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Europe Except as otherwise specified herein, these materials are distributed by UBS Europe SE, a subsidiary of UBS AG, to persons who are eligible counterparties or professional clients (as detailed in the Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin) Rules and according to MIFID) and are only available to such persons. The information does not apply to, and should not be relied upon by, retail clients. UBS Europe SE is a Societas Europaea registered with the commercial register (Handelsregister) of the local court (Amtsgericht) of Frankfurt am Main under HRB 107046. Registered office: Bockenheimer Landstraße 2-4, OpernTurm, 60306 Frankfurt am Main. UBS Europe SE is authorised and regulated by the German federal financial supervisory authority (Bundesanstalt für Finanzdienstleistungaufsicht) and the European Central Bank (ECB). France Prepared by UBS Europe SE and distributed by UBS Europe SE and UBS Securities France S.A. UBS Securities France S.A. is regulated by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF). Where an analyst of UBS Securities France S.A.. has contributed to this document and/or these materials, they are also deemed to have been prepared by UBS Securities France S.A.. Spain Prepared by UBS Europe SE and distributed by UBS Europe SE and UBS Securities España SV, SA. UBS Securities España SV, SA is regulated by the Comisión Nacional del Mercado de Valores (CNMV). United Kingdom Prepared and distributed by UBS AG London Branch. UBS AG London Branch is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. Germany, Luxembourg, the Netherlands, Belgium and Ireland To the extent these materials relate to products other than cash equities or cash bond trading, prepared and distributed by UBS AG London Branch. Poland These materials are distributed by UBS Europe SE (spółka europejska) Oddział w Polsce regulated by the Polish Financial Supervision Authority only to institutional investors in Poland. The information contained herein does not apply to, and should not be relied upon by retail clients. Switzerland These materials are intended for distribution in Switzerland by UBS AG to qualified investors pursuant to Art.10 of the Swiss Federal Act on Collective Investment Schemes (CISA) as, for example, institutional investors only. Turkey Prepared and distributed by UBS AG London Branch. Russia Prepared and distributed by UBS Bank (OOO). No non-Russian securities or derivatives are offered within Russia to anybody except for investors qualified under Russian law. South Africa UBS South Africa (Pty) Limited (Registration No. 1995/011140/07) is an authorised user of the Johannesburg Stock Exchange (JSE) and an authorised Financial Services Provider (FSP 7328). UAE / Dubai These materials are distributed by UBS AG Dubai Branch and are only intended for Professional Clients and/or Market Counterparties, as classified under the DFSA rulebook. No other person should act upon these materials. These materials are not for further distribution within the United Arab Emirates. UBS AG Dubai Branch is regulated by the DFSA in the DIFC. UBS is not licensed to provide banking services in the UAE by the Central Bank of the UAE, nor is it licensed by the UAE Securities and Commodities Authority. Saudi Arabia These materials have been issued by UBS AG (and/or any of its subsidiaries, branches or affiliates), a public company limited by shares, incorporated in Switzerland with its registered offices at Aeschenvorstadt 1, CH-4051 Basel and Bahnhofstrasse 45, CH-8001 Zurich. This publication has been approved by UBS Saudi Arabia (a subsidiary of UBS AG), a Saudi closed joint stock company incorporated in the Kingdom of Saudi Arabia under commercial register number 1010257812 having its registered office at Tatweer Towers, P.O. Box 75724, Riyadh 11588, Kingdom of Saudi Arabia. UBS Saudi Arabia is authorized and regulated by the Capital Market Authority to conduct securities business under license number 08113-37. Israel UBS AG and its affiliates incorporated outside Israel are not licensed under the Investment Advice Law. These materials are being issued only to and/or are directed only at persons who are Sophisticated Investors within the meaning of the Israeli Securities Law and these materials must not be relied or acted upon by any other persons.
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