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UBS surveyed 400 investors and 100 business owners in the US with at least $1M in investable assets (for investors) or at least $250k in annual revenue and at least one employee other than themselves (for business owners), from March 10 - 14, 2019. For the 4Q18 results, UBS surveyed 506 investors and 201 business owners in the US with at least $1M in investable assets (for investors) or at least $250k in annual revenue and at least one employee other than themselves (for business owners), from November 9 - 12, 2018.

As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services, whichare separate and distinct, differ in material ways and governed by different laws and separate contracts. For more information visit our website at ubs.com/workingwithus.

ESG/Sustainable Investing Considerations: Sustainable investing strategies aim to consider and in some instances integrate the analysis of environmental, social and governance (ESG) factors into the investment process and portfolio. Strategies across geographies and styles approach ESG analysis and incorporate the findings in a variety of ways. Incorporating ESG factors or Sustainable Investing considerations may inhibit the portfolio manager's ability to participate in certain investment opportunities that otherwise would be consistent with its investment objective and other principal investment strategies. The returns on a portfolio consisting primarily of ESG or sustainable investments may be lower or higher than a portfolio where such factors are not considered by the portfolio manager. Because sustainability criteria can exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Companies may not necessarily meet high performance standards on all aspects of ESG or sustainable investing issues; there is also no guarantee that any company will meet expectations in connection with corporate responsibility, sustainability and/or impact performance.

Expiration: 5/31/20 Review Code: IS1902030 Approval date: 5/6/2019 2019-154015