Disclaimer

PLEASE READ CAREFULLY THE FOLLOWING IMPORTANT TERMS AND CONDITIONS THAT GOVERN YOUR ACCESS TO, AND USE OF, THIS WEBSITE AND MATERIALS MADE AVAILABLE THROUGH THIS WEBSITE, AND ACKNOWLEDGE YOUR AGREEMENT TO THEM. IF YOU AGREE TO THE TERMS, CLICK 'I AGREE' AT THE END OF THIS DOCUMENT TO ENTER THIS WEBSITE. IF YOU DO NOT AGREE YOU WILL NOT BE ABLE TO ENTER THIS WEBPAGE.

You declare that you will not engage in any activities related to content of the Website that are contrary to applicable law or regulation or the terms of any agreements between you and UBS Switzerland AG and/or any branch, subsidiary or affiliate of UBS Switzerland AG or any other entity of the UBS Group (UBS).

The Website and the information and/or materials made available on it are being made available solely for informational purposes and may not be reproduced, redistributed or passed on to any other person or published, in whole or in part, for any purpose, without the prior written consent of UBS.

In any jurisdiction or in any circumstances it may be unauthorized or unlawful to access the Website or read, download or have in your possession in any kind of way the information and/or material made available on the Website. Under no circumstances shall this Website, the information and/or material available herein constitute an offer of any securities (the Securities) for sale, a solicitation of an offer to purchase the Securities, or the provision of investment advice in any jurisdiction. There shall be no offer, solicitation, sale of the Securities or provision of investment advice in any jurisdiction (including the United States) in which such offer, solicitation, sale or investment advice provision would be unlawful prior to registration or qualification under the securities laws of such jurisdiction or is not otherwise authorized. The materials and information available on the Website have no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. They may not constitute or contain all the information necessary to make an investment decision. They should also not be regarded by recipients as a substitute for the exercise of their own judgment.

Nothing on the Website constitutes an offer of securities for sale in the United States. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended (the Securities Act). Unless otherwise stated in the documents related to and specific securities, it is not intended that the Securities will be registered under the Securities Act or any US state securities laws.

UBS does not guarantee the completeness or accuracy of the materials and information included on the Website. Moreover, the materials and information included on the Website speak only as of a certain date. They could be out of date and no longer accurate. UBS does not undertake an obligation, and disclaims any duty, to update any of the information or materials. UBS, its directors, officers and/or employees may have or have had interests or long or short positions in the Securities, and may at any time make purchases and/or sales in them as principal or agent. In addition, UBS may act or have acted as market-maker in the Securities.

UBS accepts no liability (contractual, tortious or otherwise) whatsoever and assumes no responsibility for any losses or damages (including, without limitation, any lost profits or lost opportunity, or any indirect, special, consequential, incidental or punitive damages whatsoever) incurred in connection with the use of and access to the Website nor the use of or reliance on the material or information made available pursuant to it.

By clicking on "I agree" you agree to the Terms and Conditions set out above and confirm that you are not located in or a resident of the United States of America, you are authorized and not restricted by law or regulation applicable to you in relevant jurisdictions to access the Website or any material or information made available on it.