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This document does not constitute and should not be construed as an offer, recommendation or solicitation to conclude a transaction or contract nor should it be treated as an advice. The terms of any transaction or contract for services relating to wealth planning advisory services and possible solutions will be exclusively subject to the detailed provisions, including any risk, tax or legal considerations, contained in the appropriate definitive documentation. Any investment or any other decisions should not be made based solely on this document. Neither UBS AG ("UBS") nor any of its affiliates, directors, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of this document.

The general explanations included in this document cannot address your personal wealth planning and/or investment objectives, your financial situation or needs (inter alias, e.g. succession or wealth preservation needs).

As a consequence of constantly and rapidly changing market conditions, the information, data, values and analyses contained in this document can become out of date even after only a short time. UBS is under no obligation to update or keep current the information contained in this document. This document is therefore no substitute for your own assessments and analysis of risks prior to taking any decision.

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