Pricing Mechanism at UBS Europe SE, Luxembourg Branch (UBS)

A review of the manner in which fees are applied by Nordea and UBS has revealed certain differences which we would like to bring to your attention. At UBS, we apply our fees as follows:

• Custody fees are charged quarterly in advance and are based on the asset value on the date of calculation.
• Management fees are charged quarterly in advance and are based on the asset value on the date of calculation.
• Account maintenance fees are charged quarterly in advance.
• Interest calculation for current accounts is based on a UBS internal rate for certain currencies.
• Interest calculation for term deposits and investment loans is based on a UBS internal rate.