Ubs Farmland Investors Llc

Event Detail: ONE FELONY COUNT OF CONSPIRACY TO DEFRAUD THE IRS. ON FEBRUARY 18, 2009, PURSUANT TO A DEFERRED PROSECUTION AGREEMENT WITH THE U.S. DEPARTMENT OF JUSTICE, UBS AG, AN AFFILIATE OF UBS AGRIVEST LLC,CONSENTED TO THE FILING OF A ONE-COUNT INFORMATION BY THE UNITED STATES ATTORNEY IN THE SOUTHERN DISTRICT OF FLORIDA CHARGING UBS AG WITH CONSPIRACY TO DEFRAUD THE INTERNAL REVENUE SERVICE IN VIOLATION OF TITLE 18 U.S.C. SECTION 371. Status: Final Disposition: THE DEPARTMENT OF JUSTICE DISMISSED ALL CRIMINAL CHARGES FOLLOWING UBS'S COMPLIANCE WITH THE DEFERRED PROSECTION AGREEMENT. Summary: CIRCUMSTANCES LEADING TO THE CHARGES WERE PROVIDED ON THE INITIAL FILING. THE CHARGES WERE DISMISSED AFTER UBS MET ALL OBLIGATIONS UNDER THE DEFERRED PROSECUTION AGREEMENT.

Event Detail: DECISION RENDERED ON THAT DATE. DECISION HAS BEEN APPEALED. Status: On Appeal Disposition: VERDICT IS SUSPENDED PENDING THE RESOLUTION OF THE APPEAL. Summary: ALLEGED ILLICIT CROSS-BORDER BUSINESS CONDUCT OF UBS AG INTO FRANCE AND COMPLICITY OF ITS FRENCH SUBSIDIARY IN THE PERIOD 2004-2012.

Event Detail: ONE COUNT, FELONY, GUILTY, WIRE FRAUD Status: Pending Summary: ON MAY 20, 2015, THE DEPARTMENT OF JUSTICE CRIMINAL DIVISION TERMINATED A DECEMBER 19, 2012 NON-PROSECUTION AGREEMENT (THE NPA) WITH UBS AG. AS A RESULT, ON MAY 20, 2015, UBS AG ENTERED INTO A PLEA AGREEMENT WITH THE DEPARTMENT OF JUSTICE CRIMINAL DIVISION PURSUANT TO WHICH UBS AG AGREED TO AND DID PLEAD GUILTY TO A ONE-COUNT CRIMINAL INFORMATION FILED IN THE DISTRICT OF CONNECTICUT CHARGING UBS AG WITH ONE COUNT OF WIRE FRAUD IN VIOLATION OF 18 USC SECTIONS 1343 AND 1342. AS PART OF THE PLEA AGREEMENT, UBS AG AGREED TO PAY A $203 MILLION PENALTY. THE CRIMINAL INFORMATION CHARGES THAT BETWEEN APPROXIMATELY 2001 AND 2010, UBS AG ENGAGED IN SCHEME TO DEFRAUD COUNTERPARTIES TO INTEREST RATE DERIVATIVES TRANSACTIONS BY MANIPULATING BENCHMARK INTEREST RATES, INCLUDING YEN LIBOR. THE CRIMINAL DIVISION TERMINATED THE NPA BASED ON ITS DETERMINATION, IN ITS SOLE DISCRETION, THAT CERTAIN OF ITS EMPLOYEES COMMITTED CRIMINAL CONDUCT THAT VIOLATED THE NPA, INCLUDING FRAUDULENT AND DECEPTIVE CURRENCY TRADING AND SALES PRACTICES IN CONDUCTING CERTAIN FOREIGN EXCHANGE MARKET TRANSACTIONS WITH CUSTOMERS AND COLLUSION WITH OTHER PARTICIPANTS IN CERTAIN FX MARKETS.

Allegations: THE COMPLAINT IS A PUTATIVE CLASS ACTION BROUGHT ON BEHALF OF PARTICIPANTS IN THE UBS SAVINGS AND INVESTMENT PLAN AND THE UBS FINANCIAL SERVICES 401(K) PLUS PLAN. IN SUBSTANCE, THE COMPLAINT ALLEGES THAT DURING THE PERIOD BETWEEN MARCH 13, 2007 AND OCTOBER 16, 2008, UBS AG, UBS AMERICAS, INC., UBS FINANCIAL SERVICES, AND SEVERAL COMMITTEES AND CURRENT AND FORMER UBS EMPLOYEES, BREACHED FIDUCIARY DUTIES UNDER ERISA BY INCLUDING THE UBS STOCK FUND AS AN INVESTMENT OPTION UNDER THESE RETIREMENT PLANS WHEN IT WAS NO LONGER PRUDENT TO DO SO. Status: Pending Summary: THIS IS AN ERISA "STOCK DROP" ACTION THAT IS ALMOST IDENTICAL TO OTHER RECENT ERISA ACTIONS ALLEGING BREACHES OF DUTY WHERE FINANCIAL INSTITUTIONS CONTINUED TO OFFER THEIR OWN STOCK AS A RETIREMENT PLAN INVESTMENT CHOICE DURING THE FINANCIAL CRISIS. THE DEFENDANTS BELIEVE THIS ACTION IS WITHOUT MERIT AND ARE DEFENDING IT VIGOROUSLY.

Allegations: IN 2018, THE DOJ FILED A CIVIL COMPLAINT IN THE DISTRICT COURT FOR THE EASTERN DISTRICT OF NEW YORK. THE COMPLAINT SEEKS SPECIFIC CIVIL MONETARY PENALTIES UNDER THE FINANCIAL INSTITUTIONS REFORM, RECOVERY AND ENFORCEMENT ACT OF 1989RELATEDTOUBS'S ISSUANCE, UNDERWRITING AND SALE OF 40 RMBS TRANSACTIONS IN 2006 AND 2007. Status: Final Summary: THE PARTIES MUTUALLY AGREED TO SETTLE THE MATTER PER THE EXECUTED "AGREEMENT FOR SETTLEMENT AND RELEASE."

Allegations: PLAINTIFF HAD ALLEGED THAT DEFENDANTS CONSPIRED TO BLOCK THE EVOLUTION OF THE STOCK LENDING MARKET FROM AN OVER-THE-COUNTER ENVIRONMENT, IN WHICH STOCK LOANS ARE INTERMEDIATED BY PRIME BROKERS, TO A MORE EXCHANGE-LIKE ENVIRONMENT. Status: Final Summary: THE PARTIES REACHED A SETTLEMENT WHICH HAS RECEIVED PRELIMINARY APPROVAL OF THE COURT. THERE WERE NO FINDINGS ORADMISSIONS, AND DEFENDANTS AFFIRMATIVELY DENIED THE ALLEGATIONS IN THE SETTLEMENT.

Allegations: THE SEC FILED A COMPLAINT ON FEBRUARY 18, 2009 ALLEGING THAT UBS AG PROVIDED BROKER-DEALER AND INVESTMENT ADVISOR SERVICES TO CLIENTS IN THE UNITED STATES WITHOUT BEING REGISTERED WITH SEC, IN VIOLATION OF THE SECURITIES AND EXCHANGE ACT OF 1934 AND THE INVESTMENT ADVISERS ACT OF 1940. Status: Final Summary: IN CONNECTION WITH THE SEC'S INVESTIGATION OF CROSS-BORDER SERVICES PROVIDED TO U.S. CLIENTS BY UBS AG, UBS AG ENTERED INTO A CONSENT DECREE WITH THE SEC WHICH PROVIDES, IN SUMMARY, THAT: UBS AG NEITHER ADMITS NOR DENIES THE ALLEGATIONS IN THE COMPLAINT; UBS AG IS PERMANENTLY ENJOINED FROM VIOLATIONS OF THE EXCHANGE ACT AND THE ADVISERS ACT; UBS AG WILL PAY DISGORGEMENT OF $200 MILLION TO THE SEC; AND UBS AG WILL TERMINATE ITS UNREGISTERED CROSS-BORDER BUSINESS IN THE U.S.

Allegations: DURING THE MONTH OF NOVEMBER 2013, ICE CLEAR CREDIT LLC IDENTIFIED AN INSTANCE IN WHICH UBS AG, LONDON BRANCH ("UBS") FAILED TO SUBMIT NINE (9) SINGLE NAME END OF DAY PRICES IN ACCORDANCE WITH THE ICE CLEAR CREDIT RULES AND PROCEDURES, WHICH WAS IN VIOLATION OF ICE CLEAR CREDIT LLC RULE 404(B). Status: Final Sanction Detail: $10,000.00 FINE Summary: WITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE, THE FIRM IS FINED $10,000.

Allegations: ICE CLEAR CREDIT LLC ("ICE") ALLEGED THAT ON NOVEMBER 16, 2012 AND DECEMBER 12, 2012, UBS AG UNWOUND FIRM TRADES MADE ON NOVEMBER 15, 2012 AND DECEMBER 11, 2012, RESPECTIVELY, WITH THE SAME COUNTERPARTY CLEARING PARTICIPANT AT THE ORIGINAL FIRM TRADE PRICES RATHER THAN THE THEN-CURRENT MARKET PRICES, IN VIOLATION OF ICE RULE 404(B) AND ICE'S END OF DAY PRICE DISCOVERY POLICIES AND PROCEDURES. Status: Final Sanction Detail: MONETARY FINE OF $10,290 IN RELATION TO THE NOVEMBER 16, 2012 OFFSETTING TRADE AND $20,661 IN RELATION TO THE DECEMBER 12, 2012 OFFSETTING TRADE. THESE AMOUNTS WERE PAID ON OCTOBER 31, 2013. Summary: PURSUANT TO ICE RULE 404(B) "MARK-TO-MARKET PRICE" AND THE ICE "END-OF-DAY PRICE DISCOVERY POLICIES AND PROCEDURES," CLEARING PARTICIPANTS OF ICE MAY BE REQUIRED TO ENTER INTO TRANSACTIONS ("FIRM TRADES") WITH OTHER CLEARING PARTICIPANTS AS A RESULT OF ICE'S END-OF-DAY ("EOD") SETTLEMENT PRICE DISCOVERY PROCESS. ALTHOUGH ICE DOES NOT REQUIRE THAT A CLEARING PARTICIPANT MAINTAIN A FIRM TRADE AS AN OUTSTANDING POSITION FOR ANY PARTICULAR LENGTH OF TIME, IF A CLEARING PARTICIPANT ELECTS TO OFFSET A FIRM TRADE, IT MUST DO SO ON TERMS REFLECTING THE THEN-CURRENT MARKET PRICE. ON NOVEMBER 15, 2012 AND DECEMBER 11, 2012, ICE REQUIRED UBS AG, AN ICE CLEARING PARTICIPANT, TO ENTER FIRM TRADES WITH ANOTHER CLEARING PARTICIPANT, WHICH FIRM TRADES UBS AG UNWOUND ON NOVEMBER 16, 2012 AND DECEMBER 12, 2012, RESPECTIVELY, WITH THE SAME COUNTERPARTY CLEARING PARTICIPANT AT THE ORIGINAL FIRM TRADE PRICES. ICE ALLEGED THAT THE FIRM TRADE PRICES DID NOT REPRESENT THE MARKET PRICES AT THE TIME OF UBS AG'S OFFSETTING TRADES, AND THAT THE TRADES THEREFORE VIOLATED ICE RULE 404(B) AND ICE'S EOD SETTLEMENT POLICIES AND PROCEDURES. WITHOUT ADMITTING OR DENYING GUILT, AND HAVING TAKEN REASONABLE MEASURES TO ENSURE THAT UBS AG PERSONNEL IN THE PERTINENT LINE OF BUSINESS AND WITH RESPONSIBILITY FOR THE PURCHASE AND SALE OF CREDIT DEFAULT SWAPS CLEARED THROUGH ICE ARE FULLY INFORMED OF THEIR RESPONSIBILITIES UNDER ICE'S RULES AND PROCEDURES, INCLUDING ICE RULE 404(B) AND ICE'S EOD PRICE DISCOVERY POLICIES AND PROCEDURES, UBS AG COMPROMISED AND SETTLED THE MATTER AND AGREED TO THE SANCTIONS SPECIFIED ABOVE.

Allegations: DURING A REVIEW CONDUCTED BY ICE CLEAR CREDIT, IT WAS ALLEGED THAT UBS AG LONDON BRANCH WAS IN VIOLATION OF RULE 404(B). Status: Final Sanction Detail: UBS AG LONDON BRANCH WAS ASSESSED $10,000 FOR THIS RULE VIOLATION. Summary: UBS AG LONDON BRANCH WAS ASSESSED $10,000 FOR THIS RULE VIOLATION.

Allegations: THE COMEX BUSINESS CONDUCT COMMITTEE ALLEGED THAT ON TRADE DATE MAY 8, 2013, UBS AG ENTERED INTO AN EFRP TRANSACTION THAT DID NOT CONTAIN DOCUMENTATION OF THE CORRESPONDING CASH POSITION, AND THEREFORE WAS NOT A BONA FIDE EFRP. THE PANEL FOUND THAT AS A RESULT, UBS VIOLATED LEGACY RULE 538.H. THE FIRM NEITHER ADMITTED NOR DENIED THE RULE VIOLATIONS. Status: Final Sanction Detail: UBS WAS ORDERED TO PAY A FINE OF $15,000. Summary: UBS WAS ORDERED TO PAY A FINE OF $15,000.

Allegations: THE ICE FUTURES EUROPE EXCHANGE ALLEGES THAT UBS AG WERE IN BREACH OF THE FOLLOWINGEXCHANGERULES: G.17.1 - A MEMBER'S OPEN INTEREST IN ANY EXCHANGE FUTURES CONTRACT OR SERIESOF ANOPTION CONTRACT, IS THE NUMBER OF LOTS, LONG OR SHORT, WHICH THE MEMBER HOLDS EITHERFOR ITSOWN ACCOUNT OR ON BEHALF OF CLIENTS (INCLUDING GROUP AND ASSOCIATED COMPANIES)WHICH WILLEITHER BE: (A) OFFSET BY TRADING OUT IN THE MARKET; OR (B) IN THE CASE OF OPTIONSCONTRACTS,EXERCISED OR HELD TO EXPIRY; OR (C) IN THE CASE OF FUTURES CONTRACTS, OFFSET BY THEEXERCISE OF ARELEVANT OPTION CONTRACT; OR (D) IN THE CASE OF FUTURES CONTRACTS, TAKEN TODELIVERY OR CASHSETTLEMENT. G.17.4 - (A) OPEN INTEREST AT THE CLOSE OF BUSINESS ON A TRADINGDAY FOR EACH SUB-ACCOUNT WILL BE CALCULATED USING THE METHOD SET OUT ABOVE AFTER A CUT-OFFTIME ON THESUBSEQUENT TRADING DAY, AND WILL INCLUDE ANY SETTLEMENTS AND POSITIONADJUSTMENTS CARRIEDOUT BEFORE THE CUT-OFF TIME. THE CUT-OFF TIME WILL BE NOTIFIED BY THEEXCHANGE TO MEMBERS FROMTIME TO TIME. G.17.5 - IN CASES WHERE CLIENTS, INCLUDING CERTAIN IN-HOUSE DEPARTMENTS, HOLDBOTH LONG AND SHORT POSITIONS MEMBERS WILL NEED TO DETERMINE, INACCORDANCE WITH REGULATORYREQUIREMENTS OR OTHERWISE, WHETHER THESE SHOULD BE MAINTAINEDGROSS OR WHETHER, OR TO WHATEXTENT, THEY SHOULD BE SETTLED OUT Status: Final Sanction Detail: UBS WILL PAY A TOTAL SETTLEMENT AMOUNT OF £36,666,67 (APPROX. $50,000) THIS COMPRISES: (I)AFINE OF £55,000 FOR THE BREACHES OF THE RULES DESCRIBED AT SECTION 7 ABOVE; (II)ADISCRETIONARY 1/3 DISCOUNT FROM £55,000 FOR EARLY SETTLEMENT Summary: UBS AND THE SRO HAVE AGREED THE CONTENT OF A DRAFT CIRCULAR CAPTURING THE SETTLEMENT,WHICHWILL BE PUBLISHED BY THE SRO IN DUE COURSE. THIS PROVIDES FOR THE ABOVE SETTLEMENTAMOUNT ANDCONFIRMS THAT UBS DID BREACH RULES G.17.1, G17.4, AND G.17.5. THE DATE OF PAYMENTHAS NOT YET BEEN AGREED

Allegations: ON 25 MAY 2021, UBS AG INADVERTENTLY CONDUCTED PARTIALLY UNCOVERED SHORT SELLING IN KOREA.THIS IS A ONE-OFF INCIDENT INVOLVING MIS-BOOKING BY HUMAN ERROR WHICH OCCURRED AS RESULT OFA STANDARD MANUAL PROCESS REQUIRED WHEN GLOBALONE (THE GLOBAL BOOKS AND RECORDS FORSTOCK, BORROW & LENDING) WAS OFFLINE FOR ITS DAILY BATCH RUNS. THIS LED TO AN INCORRECT LEVELOF AVAILABLE INVENTORY RECORDED, RESULTING IN THE UNCOVERED TRADES. REMEDIATION ACTIONS HAVEBEEN PUT IN PLACE TO ENHANCE SYSTEMS CONFIGURATIONS TO AVOID THE MANUAL PROCESS. Status: Final Sanction Detail: THE RESTRICTION AND PRE-MARGINING REQUIREMENT IMPOSED ON UBS AG (AS DETAILED IN THERESPONSE TO ITEM 12B ABOVE) WAS COMMUNICATED BY KRX ON 28 JULY 2021, WITH THE EFFECTIVESTART DATE OF THE 80-DAY RESTRICTION OF 29 JULY 2021. Summary: UBS AG HAS REQUESTED CLIENTS THAT UTILIZE SYNTHETIC SHORT ACCESS PRODUCT RELATED TO KOREAMARKET OFFERED BY UBS AG TO TRADE THROUGH ALTERNATIVE PROVIDERS DURING THIS PERIOD.

Allegations: ON JUNE 17, 2009 UBS AG MADE A SUBSTANTIAL SHAREHOLDING DISCLOSURE IN THE ISSUER PETROLEUM GEO-SERVICES ASA 3 DAYS LATE Status: Final Sanction Detail: ACTUAL FINE WAS 200,000 NORWEGIAN KRONERS, FINE AMOUNT ABOVE IS A CONVERSION TO US DOLLARS AT THE THEN CURRENT RATE. Summary: ON JUNE 17, 2009 UBS AG MADE A SUBSTANTIAL SHAREHOLDING DISCLOSURE IN THE ISSUER PETROLEUM GEO-SERVICES ASA 3 DAYS LATE. MATT WAS CLOSED (AWC) AND A FINE.

Allegations: ON 11 NOVEMBER 2014, THE UK FINANCIAL CONDUCT AUTHORITY ISSUED A FINAL NOTICE TO UBS AG CONCERNING G10 SPOT FX TRADING IN ZURICH. THE FCA DETERMINED THAT UBS AG DID NOT HAVE ADEQUATE SYSTEMS AND CONTROLS IN PLACE IN RELATION TO ITS ZURICH VOICE TRADING OPERATIONS IN THE G10 SPOT FX MARKET AND IMPOSED A PENALTY OF GBP 334,020,000 AND GAVE A 30% DISCOUNT FOR EARLY SETTLEMENT, PRODUCING A FINAL FIGURE OF GBP 233,814,000. Status: Final Sanction Detail: PENALTY OF GBP 334,020,000 WITH A 30% DISCOUNT FOR EARLY SETTLMENT, PRODUCING A FINAL FIGURE OF GBP 233,814,000. CONVERTED TO $366,169,091.00. Summary: PENALTY OF GBP 334,020,000 WITH A 30% DISCOUNT FOR EARLY SETTLMENT, PRODUCING A FINAL FIGURE OF GBP 233,814,000. CONVERTED TO $366,169,091.00.

Allegations: THE REGULATOR DEEMED THE REASONING BEHIND THE TWO LATE NET SHORT SELLING DISCLOSURES AS INADEQUATE AND FOUND UBS GLOBAL ASSET MANAGEMENT (UK) IN VIOLATION OF THEIR RULES. Status: Final Sanction Detail: FINE OF 750,000 SEK CONVERTS TO $90,000 Summary: FINE OF 750,000 SEK CONVERTS TO $90,000

Allegations: UBS EXECUTED A NON BONAFIDE TRANSITORY EXCHANGE FOR RELATED POSITION (EFRP) TRANSACTION IN CONTRAVENTION OF RULE 538C. WHILE ACTING SOLELY AS A BROKER FOR A CUSTOMER, UBS ERRONEOUSLY SUBMITTED A BLOCK TRADE TO THE EXCHANGE AS AN EFRP. THE EFRP WAS NON BONAFIDE AS THERE WAS NO CORRESPONDING RELATED OTC POSITION. IN MISTAKENLY TRANSMITTING THE TRANSACTION TO THE EXCHANGE AS AN EFRP RATHER THAN A BLOCK TRADE, UBS CONTRAVENED RULE 438X. Status: Final Sanction Detail: FINE $30,000.00 Summary: FINE $30,000.00

Allegations: THE FSA HAS FOUND THAT UBS AG LONDON BRANCH FAILED TO TAKE REASONABLE CARE TO ENSURE THE SUITABILITY OF ITS ADVICE TO ITS CUSTOMERS TO INVEST IN THE FUND, AND ALSO FAILED TO PAY DUE REGARD TO THE INTERESTS OF ITS CUSTOMERS. FURTHER, THE BREACH WAS IN RELATION, AND LIMITED, TO UBS AG LONDON BRANCH'S BUSINESS IN THE UK IN THIS PARTICULAR PRODUCT. Status: Final Sanction Detail: FSA IMPOSED A FINE OF 9.45 MILLION POUNDS, WHICH CONVERTED TO $14,930,000.00 AS OF 2/8/13. Summary: FSA IMPOSED A FINE OF 9.45 MILLION POUNDS, WHICH CONVERTED TO $14,930,000.00 AS OF 2/8/13.

Allegations: THE INVESTIGATION CONCERNED WHETHER UBS AG BREACHED PROVISIONS OF THE STOCK EXCHANGE RULES ON AD HOC PUBLICITY IN THE PERIOD FROM 2007 TO THE END OF 2008 AND THE DIRECTIVE ON INFORMATION RELATING TO CORPORATE GOVERNANCE IN CONNECTION WITH UBS'S 2008 ANNUAL REPORT. Status: Final Sanction Detail: CONVERTED FROM 100,000 CHF Summary: UBS ACKNOWLEDGES THE DECISION BY THE SIX SANCTIONS COMMISSION AND WILL PAY THE FINE.

Allegations: IN SEPTEMBER 2011, THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY (FINMA) AND THE FSA JOINTLY LAUNCHED AN INDEPENDENT INVESTIGATION OF LONDON BRANCH UNAUTHORIZED TRADING INCIDENT INVOLVING ACTIVITY FROM OCTOBER 2008 TO SEPTEMBER 2011. ON 26TH NOVEMBER 2012, FINMA AND THE FSA ANNOUNCED THE FINDINGS OF THEIR INVESTIGATION. FINMA IMPOSED A RANGE OF PREVENTATIVE MEASURES ON UBS INCLUDING RESTRICTIONS ON THE SIZE OF THE RISK WEIGHTED ASSETS IN THE INVESTMENT BANK. FSA IMPOSED A FINANCIAL PENALTY OF GBP 29.7 MILLION ON UBS AG. Status: Final Sanction Detail: FSA IMPOSED A FINE GBP 29.7 MILLION. THIS CONVERTS TO $47,557,307.45 THE RATE AS OF 11/26/2012. Summary: IN SEPTEMBER 2011, FINMA AND THE FSA JOINTLY LAUNCHED AN INDEPENDENT INVESTIGATION OF LONDON BRANCH UNAUTHORIZED TRADING INCIDENT INVOLVING ACTIVITY FROM OCTOBER 2008 TO SEPTEMBER 2011. ON 26TH NOVEMBER 2012, FINMA AND THE FSA ANNOUNCED THE FINDINGS OF THEIR INVESTIGATION. FINMA IMPOSED A RANGE OF PREVENTATIVE MEASURES ON UBS INCLUDING RESTRICTIONS ON THE SIZE OF THE RISK WEIGHTED ASSETS IN THE INVESTMENT BANK. FSA IMPOSED A FINANCIAL PENALTY OF GBP 29.7 MILLION ON UBS AG.

Allegations: IN SEPTEMBER 2011, FINMA AND THE THE FINANCIAL SERVICES AUTHORITY (FSA) JOINTLY LAUNCHED AN INDEPENDENT INVESTIGATION OF LONDON BRANCH UNAUTHORIZED TRADING INCIDENT INVOLVING ACTIVITY FROM OCTOBER 2008 TO SEPTEMBER 2011. ON 26TH NOVEMBER 2012, FINMA AND THE FSA ANNOUNCED THE FINDINGS OF THEIR INVESTIGATION. FINMA IMPOSED A RANGE OF PREVENTATIVE MEASURES ON UBS INCLUDING RESTRICTIONS ON THE SIZE OF THE RISK WEIGHTED ASSETS IN THE INVESTMENT BANK. FSA IMPOSED A FINANCIAL PENALTY OF GBP 29.7 MILLION ON UBS AG. Status: Final Sanction Detail: IN NOVEMBER 2011, UPON THE COMMENCEMENT OF FINMA'S REGULATORY REVIEW, FINMA IMPOSED A RANGE OF PREVENTATIVE MEASURES ON UBS, INCLUDING RESTRICTIONS ON THE SIZE OF THE RISK WEIGHTED ASSETS IN THE INVESTMENT BANK. UPON CONCLUDING ITS INVESTIGATION IN NOVEMBER 2012, FINMA IMPOSED ADDITIONAL OVERSIGHT OF UBS, INCLUDING THE APPOINTMENT OF AN INDEPENDENT MONITOR WITH RESPECT TO UBS'S REMEDIATION PROGRAM. Summary: IN NOVEMBER 2011, UPON THE COMMENCEMENT OF FINMA'S REGULATORY REVIEW, FINMA IMPOSED A RANGE OF PREVENTATIVE MEASURES ON UBS, INCLUDING RESTRICTIONS ON THE SIZE OF THE RISK WEIGHTED ASSETS IN THE INVESTMENT BANK. UPON CONCLUDING ITS INVESTIGATION IN NOVEMBER 2012, FINMA IMPOSED ADDITIONAL OVERSIGHT OF UBS, INCLUDING THE APPOINTMENT OF AN INDEPENDENT MONITOR WITH RESPECT TO UBS'S REMEDIATION PROGRAM.

Allegations: IN OCTOBER 2014, UBS REACHED A SETTLMENT WITH THE EUROPEAN COMMISSION REGARDING ITS INVESTIGATION OF BID-ASK SPREADS IN CONNECTION WITH SWISS FRANC INTEREST RATE DERIVATIVES AND AGREED TO PAY A EURO 12.65 MILLION FINE. Status: Final Sanction Detail: FINE OF $15,753,032.30 AND UNDERTAKING. Summary: FINE OF $15,753,032.30 AND UNDERTAKING.

Allegations: STATE AGS ALLEGED THAT UBS AG'S USD LIBOR SUBMISSIONS ON OCCASION IN 2006-09 WERE INFLUENCED BY DIRECTIVES TO AVOID REPUTATIONAL HARM AND/OR ITS YEN LIBOR SUBMISSIONS AT TIMES WERE FALSE AND THAT UBS AG DID NOT DISCLOSE THIS ALLEGED CONDUCT TO GOVERNMENT AND NON-PROFIT SWAP COUNTERPARTIES. Status: Final Sanction Detail: SETTLEMENT AGREEMENT PROVIDES FOR PAYMENT OF $68 MILLION BY UBS AG BY JUNE 20, 2019. $64.6 MILLION IS RESTITUTION; NONE IS A FINE OR PENALTY. Summary: SETTLEMENT AGREEMENT EXECUTED 12/21/18. PAYMENT TO BE MADE BY UBS AG BY JUNE 20, 2019.

Allegations: THE SFC FINED AND REPRIMANDED UBS AG AND UBS SECURITIES ASIA LIMITED (COLLECTIVELY"UBS")HK$9.8M AND HK$1.75M RESPECTIVELY OVER VARIOUS REGULATORY BREACHES WHICH CONCERNEDUBS'SSYSTEMS AND CONTROLS. THE SFC FOUND THAT UBS FAILED TO: - MAKE PROPER DISCLOSURE OFITSFINANCIAL INTERESTS IN SOME HONG KONG LISTED COMPANIES COVERED IN ITS RESEARCH REPORTSDUETO MULTIPLE DATA FEED LOGIC ERROS IN A LEGACY DATA SOURCE USED BY UBS FOR TRACKINGITSSHAREHOLDING POSITIONS. - OBTAIN VALID STATNDING AUTHORITIES FROM 91 CLIENTS WHO WERENOTQUALIFIED AS PROFESSIONAL INVESTORS AND ISSUE CONTRACT NOTES TO THEM IN RESPECT OF913SECURITIES POOLED LENDING TRANSACTIONS ENTERED INTO WITH THESE CLIENTS. - RECORDCLIENTORDER INSTRUCTIONS RECEIVED THROUGH 35 TELEPHONE LINES. - FOLLOW APPLICABLE REGULATORYGUIDELINES RELATING TO ASSESSMENT OF CLIENTS' DERIVATIVES KNOWLEDGE. - DISCLOSE TO 15 CLIENTSAKEY FEATURE OF A STRUCTURED NOTE BEFORE SELLING THEM THE NOTE. Status: Final Sanction Detail: AS PART OF THE SETTLEMENT, UBS HAS AGREED TO PAY A FINE TO THE SFC IN THE AMOUNTOFHKD11.55M (~USD 1.48M). Summary: THE SFC FINED AND REPRIMANDED UBS AG AND UBS SECURITIES ASIA LIMITED (COLLECTIVELY"UBS")HK$9.8M AND HK$1.75M RESPECTIVELY OVER VARIOUS REGULATORY BREACHES WHICH CONCERNEDUBS'SSYSTEMS AND CONTROLS. THE SFC FOUND THAT UBS FAILED TO: -MAKE PROPER DISCLOSURE OFITSFINANCIAL INTERESTS IN SOME HONG KONG LISTED COMPANIES COVERED IN ITS RESEARCH REPORTSDUETO MULTIPLE DATA FEED LOGIC ERROS IN A LEGACY DATA SOURCE USED BY UBS FOR TRACKINGITSSHAREHOLDING POSITIONS. -OBTAIN VALID STATNDING AUTHORITIES FROM 91 CLIENTS WHO WERENOTQUALIFIED AS PROFESSIONAL INVESTORS AND ISSUE CONTRACT NOTES TO THEM IN RESPECT OF913SECURITIES POOLED LENDING TRANSACTIONS ENTERED INTO WITH THESE CLIENTS. -RECORD CLIENTORDERINSTRUCTIONS RECEIVED THROUGH 35 TELEPHONE LINES. -FOLLOW APPLICABLE REGULATORYGUIDELINESRELATING TO ASSESSMENT OF CLIENTS' DERIVATIVES KNOWLEDGE. -DISCLOSE TO 15 CLIENTS AKEYFEATURE OF A STRUCTURED NOTE BEFORE SELLING THEM THE NOTE.

Allegations: IN 2017, THE COMISSAO DE VALORES MOBILIARIOS (CVM), OR THE BRAZIL SECURITIES COMMISSION,REVIEWED CERTAIN TRADESOCCURRING IN APRIL 2014 BY A NUMBER OF FINANCIAL INSTITUTIONS,ALLEGING THAT SUCH TRADING WAS IN VIOLATION OF CVMINSTRUCTION 530/2012, WHICH GENERALLYPROHIBITS INVESTORS FROM SHORT SELLING SHARES IN A COMPANY DURING CERTAINDATES JUST PRIOR TOTHE COMPANY'S ANNOUNCEMENT OF A PUBLIC OFFERING OF CERTAIN SHARES AT CERTAIN PRICES. THESHARESAT ISSUE WERE OIBR3 AND OIBR4 IN BRAZILIAN COMPANY OI S.A. Status: Final Sanction Detail: ADMINISTRATIVE FINE OF 300,00 BRAZILIAN REALS (BR) (APPROXIMATELY $ 53,000) WAS PAID BY UBS AGLONDON BRANCH ONMARCH 4, 2021, WITH RECEIPT OF PAYMENT ACKNOWLEDGED BY THE CVM ONMARCH 16, 2021, AND PROOF OF SOURCE OF FUNDSUSED FOR PAYMENT OF THE FINE ESTABLISHED ONAPRIL 23, 2021. NO PORTION WAS WAIVED. Summary: UBS AG LONDON BRANCH MAINTAINED ITS POSITION THAT ITS APRIL 2014 TRADES IN OIBR3 AND OIBR4WERE TO BE DISTINGUISHEDFROM THOSE OF OTHER FINANCIAL INSTITUTIONS ACTING AS INVESTOR, ASUBS AG LONDON BRANCH ACTED EXCLUSIVELY IN THECAPACITY OF BROKER PROVIDING GLOBAL SYNTHETICPRIME BROKERAGE SERVICES. THE MATTER WITH UBS AG LONDON BRANCHSETTLED WITH ANADMINISTRATIVE FINE LEVIED IN THE AMOUNT OF 300,000 BRAZILIAN REALS (APPROXIMATELY $53,000),WITHOUTUBS AG LONDON BRANCH ADMITTING OR DENYING ANY FACTUAL FINDINGS OR ANY LIABILITY, ANDWITHOUT FURTHER PROCEEDINGS ORHEARING. UPON RECEIPT OF PROOF OF SOURCE OF FUNDS USED FORPAYMENT OF THE FINE, AS REQUIRED UNDER BRAZIL REGULATION,CVM CONFIRMED THE MATTER SATISFIED,FINAL AND CLOSED AS TO UBS AG LONDON BRANCH, ON APRIL 23, 2021, WHILE THE LARGERMATTERREMAINS OPEN AS TO ONE OR MORE OF THE OTHER FINANCIAL INSTITUTIONS.

Allegations: THE TURKISH CAPITAL MARKETS BOARD ALLEGED THAT UBS ENTERED INTO CERTAIN TRANSACTIONS ON1JULY 2020 THAT CONSTITUTED SHORT SELLING AND WERE NOT DISCLOSED AS SHORT SALES ASREQUIREDUNDER TURKISH REQUIREMENTS. Status: Final Sanction Detail: TOTAL AMOUNT OF FINE IMPOSED ON UBS AG LONDON BRANCH WAS TRY 328,706 AND WAS DUEFORPAYMENT BY 2 JULY 2021. IF THE FINE IS PAID BY 2 JULY 2021, THE FINE IS DISCOUNTED BY 25%ANDTHE AMOUNT PAYABLE IS TRY 246,529. Summary: UBS AG LONDON BRANCH HAS WRITTEN TOTHE CMB TO NOTE THAT PAYMENT OF THE FINE IS NOT TO BEINTERPRETED AS: (I) ACCEPTANCE OF THEALLEGED BREACHES; OR (II) SUBMISSION TO THE JURISDICTIONOF THE CMB. SUBJECT TO FURTHERCORRESPONDENCE FROM THE CMB, UBS CONSIDERS THIS MATTER TO BECLOSED.

Allegations: THE MAS HAS IMPOSED A CIVIL PENALTY ON UBS AG (UBS), FOR ACTS OF ITS CLIENT ADVISORS THAT CONTRAVENED SECTION 201(B) OF THE SECURITIES AND FUTURES ACT (SFA). UBS CLIENT ADVISORS HAD ENGAGED IN ACTS THAT DECEIVED OR WERE LIKELY TO DECEIVE CLIENTS ABOUT THE SPREADS AND/OR INTERBANK PRICES FOR TRANSACTIONS IN OVER-THE-COUNTER (OTC) BONDS AND STRUCTURED PRODUCTS. THE ENFORCEMENT ACTION FOLLOWED UBS'S REPORTING OF THE MISCONDUCT TO MAS, AND MAS'S SUBSEQUENT INVESTIGATIONS. THE ENFORCEMENT ACTION AND PENALTY TOOK INTO ACCOUNT THE FACT THAT UBS HAS UNDERTAKEN TO COMPENSATE AFFECTED CLIENTS AND THE FACT THAT THE BANK RENDERED FULL COOPERATION TO MAS DURING THE INVESTIGATION. Status: Final Sanction Detail: CIVIL PENALTY OF SG11.2 MILLION WAS PAID ON 14 NOVEMBER 2019 Summary: THE MAS HAS IMPOSED A CIVIL PENALTY ON UBS AG (UBS), FOR ACTS OF ITS CLIENT ADVISORS THAT CONTRAVENED SECTION 201(B) OF THE SECURITIES AND FUTURES ACT (SFA). UBS CLIENT ADVISORS HAD ENGAGED IN ACTS THAT DECEIVED OR WERE LIKELY TO DECEIVE CLIENTS ABOUT THE SPREADS AND/OR INTERBANK PRICES FOR TRANSACTIONS IN OVER-THE-COUNTER (OTC) BONDS AND STRUCTURED PRODUCTS. THE ENFORCEMENT ACTION FOLLOWED UBS'S REPORTING OF THE MISCONDUCT TO MAS, AND MAS'S SUBSEQUENT INVESTIGATIONS. THE ENFORCEMENT ACTION AND PENALTY TOOK INTO ACCOUNT THE FACT THAT UBS HAS UNDERTAKEN TO COMPENSATE AFFECTED CLIENTS AND THE FACT THAT THE BANK RENDERED FULL COOPERATION TO MAS DURING THE INVESTIGATION.

Allegations: THE SFC FINED AND REPRIMANDED UBS AG (UBS) FOR OVERCHARGING SOME CLIENTS OVER A TEN-YEAR PERIOD AND FOR RELATED SERIOUS SYSTEMIC INTERNAL CONTROL FAILURES. THE SFC'S INVESTIGATIONS REVEALED THAT BETWEEN 2008 AND 2015, THE CLIENT ADVISORS AND CLIENT ADVISORS' ASSISTANTS IN UBS'S WEALTH MANAGEMENT DIVISION HAD OVERCHARGED CLIENTS WHEN CONDUCTING BOND AND STRUCTURED NOTE TRADES BY INCREASING THE SPREAD CHARGED AFTER THE EXECUTION OF TRADES WITHOUT CLIENTS' KNOWLEDGE; BETWEEN 2008 AND 2017, UBS HAD ALSO CHARGED ITS CLIENTS FEES IN EXCESS OF ITS STANDARD DISCLOSURES OR RATES. THE ENFORCEMENT ACTIONS FOLLOWED UBS'S REPORTING TO THE RELEVANT REGULATORS IN HONG KONG IN 2016 AND SFC'S SUBSEQUENT INVESTIGATIONS. UBS HAS AGREED TO REPAY THE AFFECTED CLIENTS BY REPAYING THEM THE FULL VALUE OF THE OVERCHARGED AMOUNT TOGETHER WITH INTEREST. UBS HAS ALREADY COMMENCED THE REPAYMENT PROCESS TO AFFECTED CLIENTS ON 29 NOVEMBER 2019. Status: Final Sanction Detail: AS PART OF THE SETTLEMENT, UBS AG HAS AGREED TO REPAY THE CLIENTS ALL OVERCHARGES, INCLUDING INTEREST. AMOUNT: ~$ 51,000,000.00 (HK$400M) Summary: THE SFC FINED AND REPRIMANDED UBS AG (UBS) FOR OVERCHARGING SOME CLIENTS OVER A TEN-YEAR PERIOD AND FOR RELATED SERIOUS SYSTEMIC INTERNAL CONTROL FAILURES. THE SFC'S INVESTIGATIONS REVEALED THAT BETWEEN 2008 AND 2015, THE CLIENT ADVISORS AND CLIENT ADVISORS' ASSISTANTS IN UBS'S WEALTH MANAGEMENT DIVISION HAD OVERCHARGED CLIENTS WHEN CONDUCTING BOND AND STRUCTURED NOTE TRADES BY INCREASING THE SPREAD CHARGED AFTER THE EXECUTION OF TRADES WITHOUT CLIENTS' KNOWLEDGE; BETWEEN 2008 AND 2017, UBS HAD ALSO CHARGED ITS CLIENTS FEES IN EXCESS OF ITS STANDARD DISCLOSURES OR RATES. THE ENFORCEMENT ACTIONS FOLLOWED UBS'S REPORTING TO THE RELEVANT REGULATORS IN HONG KONG IN 2016 AND SFC'S SUBSEQUENT INVESTIGATIONS. UBS HAS AGREED TO REPAY THE AFFECTED CLIENTS BY REPAYING THEM THE FULL VALUE OF THE OVERCHARGED AMOUNT TOGETHER WITH INTEREST. UBS HAS ALREADY COMMENCED THE REPAYMENT PROCESS TO AFFECTED CLIENTS ON 29 NOVEMBER 2019.

Allegations: THE EUROPEAN COMMISSION ("EC") FOUND THAT UBS AG INFRINGED ARTICLE 101 OF THE TREATY ANDARTICLE 53 OF THE EUROPEAN ECONOMIC AREA AGREEMENT. THE EC FOUND THAT UBS AG ENGAGED INRESTRICTION AND/OR DISTORTION OF COMPETITION IN THE SECTOR OF FOREIGN EXCHANGE SPOT TRADINGOF G10 CURRENCIES. UBS RECEIVED FULL IMMUNITY FROM FINES FOR REPORTING THE CONDUCT TO THE EC. Status: Final Sanction Detail: UBS RECEIVED FULL IMMUNITY FROM FINES FOR REPORTING THE CONDUCT TO THE EC. Summary: UBS RECEIVED FULL IMMUNITY FROM FINES FOR REPORTING THE CONDUCT TO THE EC.

Allegations: UBS TAIPEI BRANCH (A BRANCH OF UBS AG,) WAS ALLEGED TO HAVE BREACHED PARAGRAPH 45-1 OF THE BANKING LAW, AS PERMITTED UNDER ARTICLE 123 OF THE SAME LAW, IN NOT HAVING ESTABLISHED OR NOT HAVING PROPERLY IMPLEMENTED ADEQUATE INTERNAL CONTROLS. IN ADDITION, IN ACCORDANCE WITH ARTICLE 61-1 OF THE BANKING LAW, UBS WAS ORDERED TO DISMISS A FOREIGN EXCHANGE DEALER. Status: Final Sanction Detail: UBS TAIPEI BRANCH WAS FINED TWD 5 MILLION, CONVERTED TO USD AS OF 4/28/2005 $159,250. Summary: UBS TAIPEI BRANCH WAS FINED TWD 5 MILLION, CONVERTED TO USD AS OF 4/28/2005 $159,250.

Allegations: THE FSA ALLEGED BREACH OF RULE 5.49 OF THE SECURITIES AND FUTURES ASSOCIATION ("SFA") RULES AND SUP 17.4R AND SUP 15.61R OF THE FSA RULES. Status: Final Sanction Detail: UBS WEALTH MANAGEMENT WAS FINED GBP 100,000 (USD 171,960) Summary: UBS AG HAS A WEALTH MANAGEMENT DIVISION THAT CARRIES OUT TRANSACTIONS ON BEHALF OF ITS CLIENTS WHICH ARE REQUIRED TO BE REPORTED IN ACCORDANCE WITH SUP 17.4R. SINCE OCTOBER 1999, ALL HAD BEEN INCORRECTLY HARD CODED AS PRINCIPAL WHEN THEY SHOULD HAVE BEEN REPORTED AS AGENCY.

Allegations: ON MAY 20, 2015, THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ISSUED AN ORDER TO CEASE AND DESIST AND ORDER OF ASSESSMENT OF A CIVIL MONETARY PENALTY ISSUED UPON CONSENT (THE "FEDERAL RESERVE ORDER") TO UBS AG. AS PART OF THE FEDERAL RESERVE ORDER, UBS AG AGREED TO PAY A $342 MILLION CIVIL MONETARY PENALTY. THE FEDERAL RESERVE'S ORDER IS BASED ON THE FEDERAL RESERVE'S FINDING THAT UBS AG HAD DEFICIENT POLICIES AND PROCEDURES THAT PREVENT UBS AG FROM DETECTING AND ADDRESSING UNSAFE AND UNSOUND CONDUCT BY FOREIGN EXCHANGE TRADERS AND SALESPEOPLE, INCLUDING DISCLOSURES TO TRADERS OF OTHER INSTITUTIONS OF CONFIDENTIAL CUSTOMER INFORMATION, AGREEMENTS WITH TRADERS OF OTHER INSTITUTIONS TO COORDINATE FOREIGN EXCHANGE TRADING IN A MANNER TO INFLUENCE THE WM/R AND ECB FOREIGN EXCHANGE BENCHMARKS FIXES AND MARKET PRICES, TRADING STRATEGIES THAT RAISED POTENTIAL CONFLICTS OF INTEREST, POSSIBLE AGREEMENTS WITH TRADERS OF OTHER INSTITUTIONS REGARDING BID/OFFER SPREADS OFFERED TO FOREIGN EXCHANGE CUSTOMERS, THE PROVISION OF INFORMATION TO CUSTOMERS REGARDING PRICE QUOTES, AND THE PROVISION OF INFORMATION TO CUSTOMERS ABOUT HOW A CUSTOMER'S FOREIGN EXCHANGE ORDER IS FILLED. Status: Final Sanction Detail: $342 MILLION CIVIL MONETARY PENALTY AND CEASE AND DESIST ORDER. Summary: ON MAY 20, 2015, THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ISSUED AN ORDER TO CEASE AND DESIST AND ORDER OF ASSESSMENT OF A CIVIL MONETARY PENALTY ISSUED UPON CONSENT (THE "FEDERAL RESERVE ORDER") TO UBS AG. AS PART OF THE FEDERAL RESERVE ORDER, UBS AG AGREED TO PAY A $342 MILLION CIVIL MONETARY PENALTY. THE FEDERAL RESERVE'S ORDER IS BASED ON THE FEDERAL RESERVE'S FINDING THAT UBS AG HAD DEFICIENT POLICIES AND PROCEDURES THAT PREVENT UBS AG FROM DETECTING AND ADDRESSING UNSAFE AND UNSOUND CONDUCT BY FOREIGN EXCHANGE TRADERS AND SALESPEOPLE, INCLUDING DISCLOSURES TO TRADERS OF OTHER INSTITUTIONS OF CONFIDENTIAL CUSTOMER INFORMATION, AGREEMENTS WITH TRADERS OF OTHER INSTITUTIONS TO COORDINATE FOREIGN EXCHANGE TRADING IN A MANNER TO INFLUENCE THE WM/R AND ECB FOREIGN EXCHANGE BENCHMARKS FIXES AND MARKET PRICES, TRADING STRATEGIES THAT RAISED POTENTIAL CONFLICTS OF INTEREST, POSSIBLE AGREEMENTS WITH TRADERS OF OTHER INSTITUTIONS REGARDING BID/OFFER SPREADS OFFERED TO FOREIGN EXCHANGE CUSTOMERS, THE PROVISION OF INFORMATION TO CUSTOMERS REGARDING PRICE QUOTES, AND THE PROVISION OF INFORMATION TO CUSTOMERS ABOUT HOW A CUSTOMER'S FOREIGN EXCHANGE ORDER IS FILLED.

Allegations: ON 19 DECEMBER 2012 THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY (FINMA) ANNOUNCED THAT IT CONCLUDED ITS ADMINISTRATIVE PROCEEDINGS AGAINST UBS AG IN CONNECTION WITH THE SUBMISSION OF BENCHMARK INTEREST RATES. IN ITS ORDER, FINMA ESTABLISHED THAT UBS VIOLATED SWISS FINANCIAL MARKET LEGISLATION, IMPOSED SUPERVISORY MEASURES AND DISGORGEMENT OF CHF 59 MILLION TO THE SWISS CONFEDERATION. Status: Final Sanction Detail: DISGORGEMENT OF CHF 59 MILLION TO THE SWISS CONFEDERATION PLUS CHF 1.6M IN PROCEDURAL COSTS TO FINMA. Summary: FINMA ISSUED ITS ORDER CONCLUDING ITS PROCEEDINGS ON 12/19/2012. THE ORDER BECAME FINAL ON 2/1/2013. DISGORGEMENT OF CHF 59 MILLION TO THE SWISS CONFEDERATION PLUS CHF 1.6M IN PROCEDURAL COSTS TO FINMA.

Allegations: THE OFFICE OF THE COMPTROLLER OF THE CURRENCY FOUND THAT UBS AG, NEW YORK BRANCH, UBS AG, STAMFORD BRANCH, UBS AG, MIAMI BRANCH, (COLLECTIVELY, THE "UBS BRANCHES") HAD DEFICIENCIES IN THEIR BANK SECRECY ACT AND ANTI-MONEY LAUNDERING COMPLIANCE PROGRAM THAT RESULTED IN VIOLATIONS OF 12 C.F.R. § 21.21 AND 12 C.F.R. § 21.11 AND OTHER VIOLATIONS. Status: Final Sanction Detail: ON MAY 31, 2018, THE UBS BRANCHES ENTERED INTO A CONSENT ORDER WITH THE OFFICE OF THE COMPTROLLER OF THE CURRENCY ("OCC"), WHICH FOUND DEFICIENCIES IN THE BRANCHES' BANK SECRECY ACT AND ANTI-MONEY LAUNDERING COMPLIANCE PROGRAM THAT RESULTED IN VIOLATIONS OF 12 C.F.R. § 21.21 AND 12 C.F.R. § 21.11 AND OTHER VIOLATIONS. WITHOUT ADMITTING OR DENYING THE OCC'S FINDINGS, THE UBS BRANCHES CONSENTED TO THE ENTRY OF THE CONSENT ORDER PURSUANT TO WHICH THE UBS BRANCHES SHALL COMPLY WITH THE UNDERTAKINGS SET FORTH IN THE CONSENT ORDER. Summary: PURSUANT TO THE MAY 31, 2018 CONSENT ORDER, THE UBS BRANCHES SHALL COMPLY WITH THE UNDERTAKINGS SET FORTH THEREIN, INCLUDING SUBMITTING WRITTEN PROPOSALS FOR APPROVAL BY THE OCC, COVERING THE UBS BRANCHES' BANK SECRECY ACT AND ANTI-MONEY LAUNDERING COMPLIANCE PROGRAM.

Allegations: ON OR ABOUT JULY 24, 2023, THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY (FINMA) CONCLUDED PROCEEDINGS AGAINSTCREDITSUISSE, FINDING THAT CREDIT SUISSE HAS SERIOUSLY AND SYSTEMATICALLY VIOLATED FINANCIAL MARKET LAW IN ITS RELATIONSHIP WITH THE ARCHEGOS FAMILY OFFICE DUE TO VARIOUS ORGANIZATIONAL DEFICIENCIES AND INSUFFICIENT RISK MANAGEMENT. Status: Final Sanction Detail: FINMA IS ORDERING CORRECTIVE MEASURES DIRECTED AT CREDIT SUISSE AG AND UBS GROUP AG, AS THE LEGAL SUCCESSOR OFCREDITSUISSE GROUP AG, UPON COMPLETION OF THE MERGER BETWEEN THE TWO BANKS. FINMA REQUIRES UBS TO APPLY ITSRESTRICTIONS/LIMITSON PROPRIETARY POSITIONS RELATING TO INDIVIDUAL CLIENTS THROUGHOUT THE ENTIRE FINANCIAL GROUP.ADDITIONALY, THE COMPENSATION SYSTEM OF THE ENTIRE FINANCIAL GROUP MUST PROVIDE FOR BONUS ALLOCATION CRITERIA THATTAKE INTO ACCOUNT RISK APPETITE. UBS HAS CORRESPONDING RULES IN PLACE, WHICH FINMA ORDERS TO BE LEGALLY BINDING FORTHE ENTIRE FINANCIAL GROUP. Summary: FINMA IS ORDERING CORRECTIVE MEASURES DIRECTED AT CREDIT SUISSE AG AND UBS GROUP AG, AS THE LEGAL SUCCESSOR OFCREDITSUISSE GROUP AG, UPON COMPLETION OF THE MERGER BETWEEN THE TWO BANKS. FINMA REQUIRES UBS TO APPLY ITSRESTRICTIONS/LIMITSON PROPRIETARY POSITIONS RELATING TO INDIVIDUAL CLIENTS THROUGHOUT THE ENTIRE FINANCIAL GROUP.ADDITIONALY, THE COMPENSATION SYSTEM OF THE ENTIRE FINANCIAL GROUP MUST PROVIDE FOR BONUS ALLOCATION CRITERIA THATTAKE INTO ACCOUNT RISK APPETITE. UBS HAS CORRESPONDING RULES IN PLACE, WHICH FINMA ORDERS TO BE LEGALLY BINDING FORTHE ENTIRE FINANCIAL GROUP.

Allegations: THE FRB CONSENT ORDER, ARISING FROM RISK MANAGEMENT FAILINGS ASSOCIATED WITH THE MARCH 2021 DEFAULT OF ARCHEGOSCAPITALMANAGEMENT LP, ALLEGES VIOLATIONS UNDER SECTION 8(I)(2) OF THE FEDERAL DEPOSIT INSURANCE ACT, AS WELL AS SECTIONS252.155-157 OFREGULATION YY OF THE BOARD OF GOVERNORS; THE ALLEGATIONS ARE BASED ON FINDINGS THAT CREDIT SUISSE HAD DEFICIENCIES IN RISK MANAGEMENT, LACKING ADEQUATE GOVERNANCE; EXPERIENCED STAFF WITH SUFFICIENT STATURE, AND SUFFICIENTDATA QUALITY AND MODEL RISK MANAGEMENT TO ENSURE THAT ACTIVITIES CONDUCTED BY ARCHEGOS WERE PROPERLY RISK-MANAGED. Status: Final Sanction Detail: THE BOARD OF GOVERNORS JOINTLY ASSESSED CS AND UBS A CIVIL MONETARY IN THE AMOUNT OF $268,494,109.20, WHICH WAS PAIDON JULY24, 2023. Summary: ON JULY 21, 2023, CREDIT SUISSE AND UBS AGREED TO THE ISSUANCE OF A CEASE AND DESIST ORDER AND CIVIL MONEY PENALTYASSESSMENTISSUED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, AGREEING TO PAYMENT OF A CIVIL MONEY PENALTY INTHE AMOUNT OF$268,494,109.20; ACCOUNTABILITY FOR EMPLOYEES INVOLVED IN MISCONDUCT; AND ADOPTION OF A WRITTEN MANAGEMENTOVERSIGHT PLAN. THE AGREEMENT RESOLVED CLAIMS THAT CS FAILED TO ADDRESS IDENTIFIED RISKS ASSOCIATED WITH ARCHEGOS'PORTFOLIO.

Allegations: ON FEBRUARY 18, 2009, FINMA, THE SWISS FINANCIAL MARKETS SUPERVISORY AUTHORITY, PUBLISHED THE RESULTS OF THE INVESTIGATION OF UBS AG'S CROSS-BORDER BUSINESS IN THE U.S. BY THE SWISS FEDERAL BANKING COMMISSION ("EBK"). THE EBK CONCLUDED THAT UBS AG HAD OPERATED ITS U.S. CROSS-BORDER BUSINESS IN A MANNER THAT "VIOLATED ITS WARRANTY AND ORGANIZATION REQUIREMENTS" UNDER THE SWISS BANKING ACT. THE EBK ENJOINED UBS AG FROM FURTHER OPERATING ITS CROSS-BORDER PRIVATE BANKING BUSINESS WITH PERSONS HAVING RESIDENCE OR DOMICILE IN THE US THROUGH ANY UBS ENTITIES NOT REGISTERED WITH THE SEC. Status: Final Sanction Detail: THE EBK BARRED UBS AG FROM FURTHER OPERATING THE CROSS-BORDER PRIVATE BANKING BUSINESS WITH PERSONS HAVING RESIDENCE OR DOMICILE IN THE USA THROUGH ANY UBS ENTITIES NOT REGISTERED WITH THE SEC. Summary: ON FEBRUARY 18, 2009, FINMA, THE SWISS FINANCIAL MARKETS SUPERVISORY AUTHORITY, PUBLISHED THE RESULTS OF THE INVESTIGATION OF UBS AG'S CROSS-BORDER BUSINESS IN THE U.S. BY THE SWISS FEDERAL BANKING COMMISSION ("EBK"). THE EBK CONCLUDED THAT UBS AG HAD OPERATED ITS U.S. CROSS-BORDER BUSINESS IN A MANNER THAT "VIOLATED ITS WARRANTY AND ORGANIZATION REQUIREMENTS" UNDER THE SWISS BANKING ACT. THE EBK ENJOINED UBS AG FROM FURTHER OPERATING ITS CROSS-BORDER PRIVATE BANKING BUSINESS WITH PERSONS HAVING RESIDENCE OR DOMICILE IN THE USA THROUGH ANY UBS ENTITIES NOT REGISTERED WITH THE SEC.

Allegations: ON 12 NOVEMBER 2014, THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY ANNOUNCED THAT IT HAD ISSUED AN ORDER CONCERNING UBS AG'S FOREIGN EXCHANGE AND PRECIOUS METALS TRADING IN ZURICH, SWITZERLAND. FINMA CONCLUDED THAT UBS AG HAD VIOLATED THE REGULATORY REQUIREMENTS FOR ENSURING PROPER BUSINESS CONDUCT, IMPOSED SUPEREVISORY MEASURES, AND ORDERED DISGORGEMENT OF CHF 133.9 MILLION. Status: Final Sanction Detail: IMPOSED SUPERVISORY MEASURES, AND ORDERED DISGORGEMENT OF CHF 133.9 MILLION. Summary: IMPOSED SUPERVISORY MEASURES, AND ORDERED DISGORGEMENT OF CHF 133.9 MILLION.

Allegations: UBS AG ENGAGED IN U.S. DOLLAR BANKNOTE TRANSACTIONS WITH COUNTERPARTIES IN JURISDICTIONS SUBJECT TO U.S. SANCTIONS, AND CERTAIN FORMER OFFICERS AND EMPLOYEES OF UBS AG ENGAGED IN INTENTIONAL ACTS AIMED AT CONCEALING THOSE BANKNOTE TRANSACTIONS FROM THE FEDERAL RESERVE BANK OF NEW YORK ("FRBNY") INCLUDING FALSIFICATION OF REPORTS TO FRBNY. Status: Final Sanction Detail: WITHOUT ADMITTING TO ANY ALLEGATIONS, UBS AG CONSENTED TO THE ISSUANCE OF AN ORDER AND PAID A CIVIL MONEY PENALTY OF $100,000,000 ON MAY 10, 2004. Summary: WITHOUT ADMITTING TO ANY ALLEGATIONS, UBS AG CONSENTED TO THE ISSUANCE OF AN ORDER AND PAID A CIVIL MONEY PENALTY OF $100,000,000 ON MAY 10, 2004.

Allegations: THE FSA FOUND THAT BETWEEN JANUARY 1, 2005 AND DECEMBER 31, 2010, UBS BREACHED PRINCIPLES 3 AND 5 OF THE FSA'S PRINCIPLES FOR BUSINESSES THROUGH MISCONDUCT RELATING TO THE CALCULATION OF LIBOR AND EURIBOR. Status: Final Sanction Detail: ON DECEMBER 19, 2012, UBS ENTERED INTO A SETTLEMENT AGREEMENT WITH THE FSA PURSUANT TO WHICH UBS AGREED TO PAY A FINE OF GBP 160,000,000 TO THE FSA, CONVERTED TO $259,984,000.00 AT THE DECEMBER 19, 2012 CONVERSION RATE. Summary: THE FSA FOUND THAT BETWEEN JANUARY 1, 2005 AND DECEMBER 31, 2010, UBS BREACHED PRINCIPLES 3 AND 5 OF THE FSA'S PRINCIPLES FOR BUSINESSES THROUGH MISCONDUCT RELATING TO THE CALCULATION OF LIBOR AND EURIBOR. ON DECEMBER 19, 2012, UBS ENTERED INTO A SETTLEMENT AGREEMENT WITH THE FSA PURSUANT TO WHICH UBS AGREED TO PAY A FINE OF GBP 160,000,000 TO THE FSA, CONVERTED TO $259,984,000.00 AT THE DECEMBER 19, 2012 CONVERSION RATE.

Allegations: THE CFTC ALLEGED THAT DURING THE RELEVANT PERIOD (JULY 8, 2019 TO DECEMBER 23, 2019) UBSAGFAILED TO KEEP REQUIRED VOICE RECORDING FILES CONTAINING ORAL COMMUNICATIONS RELATEDTOREGULATED SWAP ACTIVITY AND PRE-EXECUTION TRADE INFORMATION FROM, DESPITE THE ONE-YEARRETENTION PERIOD REQUIRED UNDER REGULATION 23.203(B)(2), 17 C.F.R. § 23.203(B)(2) (2020) ANDTHATTHESE FAILURES VIOLATED SECTION 4S(G)(1) OF THE ACT AND REGULATIONS 23.201(A)(1), 23.202(A)(1)AND 23.203(B)(1). Status: Final Sanction Detail: FINE WAS PAID ON OR ABOUT NOVEMBER 10, 2021. Summary: THE ORDER FINDS THAT PRIOR TO JUNE 2019, UBS, TO COMPLY WITH ITS RECORDKEEPINGOBLIGATIONS AS ASWAP DEALER, IMPLEMENTED MULTIPLE SOFTWARE SYSTEMS TO: (1) OPERATE ITSTRADER TURRETCOMMUNICATION DEVICES; (2) RECORD CALLS OCCURRING ON THESE TRADER TURRETS;AND (3) STORE THEVOICE RECORDING FILES THAT WERE GENERATED FROM THE RECORDED CALLS. THERECORDING SYSTEM HADA KNOWN FAILURE IN WHICH, AT TIMES, THE MULTIPLE SYSTEMS FAILED TOSYNCHRONIZE CERTAIN CALLDATA, INCLUDING THE UBS TRADER'S IDENTITY, WHICH WOULD NOT TRANSFERTO UBS'S VOICE RECORDINGSYSTEM ALONG WITH THE CORRESPONDING VOICE RECORDING. THISSYNCHRONIZATION FAILURE CREATED APOPULATION OF VOICE RECORDING FILES THAT WERE NOT ASSIGNEDTO A PARTICULAR TRADER. THESEUNASSIGNED VOICE RECORDING FILES, CATEGORIZED AS "TRADER 0"RECORDINGS, WERE TRANSFERRED TOUBS AG'S LONG-TERM STORAGE SYSTEMS WHERE THEY WERE TO BERETAINED FOR FIVE YEARS. AS OF JULY 8,2019, UBS BEGAN PREMATURELY DELETING, AFTER ONLY ONE DAYOF RETENTION, VOICE RECORDING FILESWHICH INCLUDED VOICE RECORDINGS CONTAINING PRE-EXECUTION SWAPS TRADE INFORMATION THATWERE REQUIRED TO BE RETAINED FOR ONE YEAR. THIS WAS ARESULT OF A TECHNOLOGY ANALYST BELIEVINGTHAT THE VOICE RECORDINGS WERE TEST FILES THAT DIDNOT NEED TO BE RETAINED AND RE-DESIGNATINGTHOSE FILES WHICH RESET THE RETENTION PERIOD FORTHESE FILES FROM FIVE YEARS TO ONE DAY. INDECEMBER 2019, UBS INADVERTENTLY LEARNED ABOUT THEPREMATURE DELETION OF THESE AUDIO FILESFROM ITS SYSTEMS WHILE IT WAS SEARCHING FOR, BUT NOTFINDING, SPECIFIC VOICE RECORDING FILESTHAT IT KNEW SHOULD HAVE BEEN IN ITS RETENTION SYSTEMS.UPON DISCOVERY OF THE ERRONEOUSDELETIONS OF RECORDINGS, UBS DID AN INTERNAL REVIEW TODETERMINE THE UNIVERSE OF IMPACTEDVOICE RECORDING FILES. THE ANALYST'S ERROR RESULTED IN THEDELETION OF OVER 1,000 HOURS, ORROUGHLY 2.76 PERCENT OF TOTAL U.S. RECORDED VOLUME, DURINGJULY 8, 2019 THROUGH DECEMBER 23,2019. THE DELETED FILES INCLUDED VOICE RECORDINGS CONTAININGPRE-EXECUTION SWAPS INFORMATIONSUCH AS QUOTES, SOLICITATIONS, BIDS, OFFERS, INSTRUCTIONS,TRADING, AND PRICES THAT LEAD TO THEEXECUTION OF SWAPS, ALL OF WHICH ARE REQUIRED BYCOMMISSION REGULATIONS TO BE RETAINED. UPONDISCOVERING ITS POTENTIAL VIOLATION OF CFTCREGULATIONS, UBS PROMPTLY SELF-REPORTED THISVIOLATION TO CFTC STAFF VIA TELEPHONE, FOLLOWEDBY FORMALLY SUBMITTING A COMPREHENSIVEWRITTEN SELF-REPORT. UBS COOPERATED WITH CFTC STAFF INITS INVESTIGATION AND PROACTIVELYENGAGED IN REMEDIAL PROCEDURES TO ENSURE NO "TRADER 0"RECORDINGS ARE PREMATURELY DELETED IN THE FUTURE.

Allegations: UBS AG EXCEEDED THE NYMEX'S POSITION LIMITS ON CERTAIN NATURAL GAS, HEATING OIL, AND PALTINUM FUTURES CONTRACTS ON MORE THAN ONE OCCASION FROM IN OR ABOUT DECEMBER 2006 THROUGH IN OR ABOUT MARCH 2008. Status: Final Sanction Detail: CEASE AND DESIST, MONETARY FINE Summary: THIS MATTER IS FINAL

Allegations: ON 11 NOVEMBER 2014, THE CFTC ISSUED AN ORDER CONCERNING UBS AG'S FOREIGN EXCHANGE SPOT TRADING AROUND CERTAIN FOREIGN EXCHANGE BENCHMARKS. IN THE ORDER, THE CFTC FOUND THAT UBS AG VIOLATED CERTAIN SECTIONS OF THE COMMOSITY EXCHANGE ACT, IMPOSED REMEDIAL SANCTIONS, AND IMPOSED A CIVIL MONETARY PENALTY OF $290 MILLION. Status: Final Sanction Detail: REMEDIAL SANCTIONS, CIVIL MONETARY PENALTY OF $290 MILLION. Summary: REMEDIAL SANCTIONS, CIVIL MONETARY PENALTY OF $290 MILLION.

Allegations: UBS GLOBAL ASSET MANAGEMENT (AMERICAS) INC. ("UBS GLOBAL AM") MANAGED CERTAIN REGISTERED INVESTMENT COMPANIES ("FUNDS"). UBS GLOBAL AM WAS ALLEGED TO HAVE WILLFULLY AIDED AND ABETTED AND CAUSED THE FUNDS' VIOLATION, FOR SEVERAL DAYS IN 2008, OF RULE 22C-1 OF THE INVESTMENT COMPANY ACT. UBS GLOBAL AM WAS ALSO ALLEGED TO HAVE WILLFULLY AIDED AND ABETTED AND CAUSED THE FUNDS' VIOLATION OF RULE 38A-1 OF THE INVESTMENT COMPANY ACT. Status: Final Sanction Detail: UBS GLOBAL AM WAS ORDERED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF RULES 22C-1 AND 38A-1 UNDER THE INVESTMENT COMPANY ACT. UBS GLOBAL AM WAS ALSO CENSURED AND ORDERED TO PAY A CIVIL MONEY PENALTY OF $300,000. Summary: UBS GLOBAL AM MANAGED CERTAIN FUNDS AND WAS ALLEGED TO HAVE WILLFULLY AIDED AND ABETTED AND CAUSED THE FUNDS' VIOLATION OF RULE 22C-1 OF THE INVESTMENT COMPANY ACT. UBS GLOBAL AM WAS ALSO ALLEGED TO HAVE WILLFULLY AIDED AND ABETTED AND CAUSED THE FUNDS' VIOLATION OF RULE 38A-1 OF THE INVESTMENT COMPANY ACT. UBS GLOBAL AM SETTLED THE MATTER WITHOUT ADMITTING OR DENYING THE FINDINGS EXCEPT AS TO THE SEC'S JURISDICTION OVER IT AND THE SUBJECT MATTER OF THE PROCEEDINGS.

Allegations: THE CFTC ALLEGED THAT UBS AG, BY AND THROUGH THE ACTS OF CERTAIN PRECIOUS METALS SPOT TRADERS, ATTEMPTED TO MANIPULATE THE PRICE OF PRECIOUS METALS FUTURE CONTRACTS THROUGH SPOOFING AND ATTEMPTING TO MANIPULATE THE PRICE OF PRECIOUS METALS FUTURES CONTRACTS IN ORDER TO TRIGGER CUSTOMER STOP LOSS ORDERS. Status: Final Sanction Detail: $15,000,000 CIVIL MONETARY PENALTY WAS PAID BY UBS AG ON FEBRUARY 6, 2018 Summary: THE CFTC CONDUCTED AN INVESTIGATION OF UBS'S PRECIOUS METALS TRADING. AS FAR AS UBS IS AWARE, THE CFTC'S INVESTIGATION BEGAN IN 2014. IT WAS RESOLVED ON JANUARY 29,2018.

Allegations: THE COMMODITY FUTURES TRADING COMMISSION ("COMMISSION") FOUND THAT FROM 2018 TO SEPTEMBER2022 ("RELEVANT PERIOD") UBS FINANCIAL SERVICES INC., UBS SECURITIES LLC, AND UBS AG(COLLECTIVELY "UBS" OR "RESPONDENTS") VIOLATED SECTIONS 4G,4S(F)(1)(C), 4S(G)(1) AND (3), AND4S(H)(1)(B) OF THE COMMODITY EXCHANGE ACT ("ACT"), 7 U.S.C. §§ 6G,6S(F)(1)(C), 6S(G)(1), (3), 6S(H)(1)(B), AND COMMISSION REGULATIONS ("REGULATIONS") 1.31, 1.35,23.201(A), 23.202(A)(1) AND (B)(1),23.602(A), AND 166.3, 17 C.F.R. §§ 1.31, 1.35, 23.201(A), 23.202(A)(1),(B)(1), 23.602(A), 166.3 (2021). THECOMMISSION FOUND THAT DURING THE RELEVANT PERIOD, UBS EMPLOYEES, INCLUDING THOSE AT SENIORLEVELS, COMMUNICATED BOTH INTERNALLY AND EXTERNALLY USING UNAPPROVED METHODS, INCLUDING VIAPERSONAL TEXT MESSAGES AND WHATSAPP MESSAGES. THE COMMISSION FOUND THAT THESE WRITTENCOMMUNICATIONS WERE BOTH SENT TO AND RECEIVED BY UBS EMPLOYEES, INCLUDING MESSAGES RELATEDTO RESPONDENTS' BUSINESS AS COMMISSION REGISTRANTS, THAT WERE REQUIRED TO BE MAINTAINEDUNDER COMMISSION-MANDATED RECORDKEEPING REQUIREMENTS, BUT THAT GENERALLY WERE NOTMAINTAINED AND PRESERVED BY UBS, AND THAT UBS GENERALLY WOULD NOT HAVE BEEN ABLE TO FURNISHPROMPTLY TO THE COMMISSION IF AND WHEN REQUESTED. THE COMMISSION ALSO FOUND THAT, AS ARESULT OF THE WIDESPREAD USE OF UNAPPROVED METHODS OF COMMUNICATION BY UBS EMPLOYEES, ANDUBS'S FAILURE TO MAINTAIN AND PRESERVE THOSE COMMUNICATIONS, UBS ALSO FAILED TO KEEP FULL,COMPLETE AND SYSTEMATIC RECORDS OF ALL TRANSACTIONS RELATING TO ITS BUSINESS OF DEALING INCOMMODITY INTERESTS, IN VIOLATION OF SECTION 4G OF THE ACT, AND REGULATION 1.35. BY FAILING TOKEEP ALL COMMISSION-REQUIRED RECORDS IN SUCH A MANNER AS TO MAKE THEM "READILY ACCESSIBLE,"UBS VIOLATED REGULATION 1.31. IN ADDITION, THE COMMISSION FOUND THAT THE CONDUCT DESCRIBEDABOVE VIOLATED UBS'S OWN POLICIES AND PROCEDURES, WHICH PROHIBITED SUCH COMMUNICATIONS,AND THAT UBS DID NOT MAINTAIN ADEQUATE INTERNAL CONTROLS OVER THE USE OF UNAPPROVEDCOMMUNICATION METHODS FOR BUSINESS-RELATED WRITTEN ELECTRONIC COMMUNICATIONS AND FAILEDTO IMPLEMENT A DILIGENT SUPERVISORY SYSTEM TO ENSURE COMPLIANCE WITH BOTH COMMISSIONRECORDKEEPING REQUIREMENTS AND THE FIRM'S OWN POLICIES AND PROCEDURES. ACCORDINGLY, THE COMMISSION FOUND THAT UBS FAILED TO DILIGENTLY SUPERVISE MATTERS RELATED TO ITS BUSINESS AS A COMMISSION REGISTRANT AND FAILED TO SUPERVISE DILIGENTLY ITS OFFICERS, EMPLOYEES, AND AGENTS,IN VIOLATION OF REGULATION 166.3. Status: Final Sanction Detail: THE FIRM SHALL CEASE AND DESIST FROM VIOLATING SECTION 4G OF THE ACT, 7 U.S.C. § 6G, ANDREGULATIONS 1.31, 1.35, AND 166.3, 17 C.F.R. §§ 1.31, 1.35, 166.3 (2021); SHALL PAY, JOINTLYANDSEVERALLY, A CIVIL MONETARY PENALTY IN THE AMOUNT OF $75,000,000 ("CMP OBLIGATION"),WITHIN FOURTEEN DAYS OF THE DATE OF THE ENTRY OF THIS ORDER; AND SHALL COMPLY WITH THECONDITIONS AND UNDERTAKINGS SET FORTH IN THE OFFER. RESPONDENTS TIMELY PAID, IN FULL, THECIVIL MONETARY PENALTY ON OCTOBER 7, 2022. Summary: RESPONDENTS SUBMITTED AN OFFER OF SETTLEMENT, WHICH THE COMMISSION ACCEPTED. THE FIRM FAILEDTO SUPERVISE DILIGENTLY ITS OFFICERS, EMPLOYEES, AND AGENTS IN VIOLATION OF REGULATION 166.3.ACCORDINGLY THE COMMISSION ORDERED THAT RESPONDENTS (I) CEASE AND DESIST FROM VIOLATINGSECTION 4G OF THE ACT, 7 U.S.C. § 6G, AND REGULATIONS 1.31, 1.35, AND 166.3, 17 C.F.R. §§ 1.31, 1.35,166.3 (2021); (II) PAY, JOINTLY AND SEVERALLY, A CIVIL MONETARY PENALTY IN THE AMOUNT OF$75,000,000, WITHIN 14 DAYS OF THE DATE OF ENTRY OF THE ORDER. RESPONDENTS TIMELY PAID, IN FULL,THE CIVIL MONETARY PENALTY ON OCTOBER 7, 2022. RESPONDENTS ARE ALSO ORDERED TO COMPLY WITHTHE UNDERTAKINGS SET FORTH IN THE OFFER.

Allegations: THE SECURITIES AND EXCHANGE COMMISSION ALLEGED THAT UBS NEGLIGENTLY MADE MISLEADING STATEMENTS AND OMISSIONS IN THE OFFER OR SALE OF SECURITIES, WHICH VIOLATED SECTION 17(A)(2)OF THE SECURITIES ACT. UBS HAS NEITHER ADMITTED OR DENIED THESE FINDINGS. Status: Final Sanction Detail: CEASE AND DESIST ORDER, (1) $10,000,000 IN DISGORGEMENT, (2) $1.5 MILLION IN PREJUDGMENT INTEREST; AND (3) $8,000,000 CIVIL MONETARY PENALTY. Summary: CEASE AND DESIST ORDER, (1) $10,000,000 IN DISGORGEMENT, (2) $1.5 MILLION IN PREJUDGMENT INTEREST; AND (3) $8,000,000 CIVIL MONETARY PENALTY.

Allegations: WITHOUT ADMITTING OR DENYING THE FINDINGS OR CONCLUSIONS THEREIN, UBS AG AND UBS SECURITIES JAPAN LTD. CONSENTED TO THE ENTRY OF THE CFTC ORDER MAKING FINDINGS THAT CERTAIN UBS PERSONNEL ENGAGED IN EFFORTS TO MANIPULATE SUBMISSIONS FOR CERTAIN BENCHMARK RATES TO BENEFIT TRADING POSITIONS; CERTAIN EMPLOYEES AT THE BANK COLLUDED WITH EMPLOYEES AT OTHER BANKS AND CASH BROKERS TO INFLUENCE CERTAIN BENCHMARK RATES TO BENEFIT THEIR TRADING POSITIONS; AND CERTAIN PERSONNEL GAVE INAPPROPRIATE DIRECTIONS TO UBS SUBMITTERS THAT WERE IN PART MOTIVATED BY A DESIRE TO AVOID UNFAIR AND NEGATIVE MARKET AND MEDIA PERCEPTIONS DURING THE FINANCIAL CRISIS. THE CONDUCT ENCOMPASSED BY THE SETTLEMENT INCLUDES YEN LIBOR, GBP LIBOR, CHF LIBOR, EURO LIBOR, USD LIBOR, EURIBOR AND EUROYEN TIBOR, ALTHOUGH THE NATURE AND EXTENT OF THE CONDUCT IN QUESTION VARIED SIGNIFICANTLY FROM ONE CURRENCY TO ANOTHER. Status: Final Sanction Detail: ON 19 DECEMBER 2012, THE COMMODITY FUTURES TRADING COMMISSION (CFTC) ENTERED AN ORDER AGAINST UBS AG AND UBS SECURITIES JAPAN CO. LTD IN CONNECTION WITH THEIR INVESTIGATION OF LIBOR AND OTHER BENCHMARK INTEREST RATES. UBS AGREED TO PAY A TOTAL OF USD 700 MILLION TO THE CFTC, TO CEASE AND DESIST FROM FURTHER VIOLATIONS AS CHARGED, AND TAKE SPECIFIED STEPS TO ENSURE THE INTEGRITY AND RELIABILITY OF ITS LIBOR AND OTHER BENCHMARK INTEREST RATE SUBMISSIONS AND IMPROVE RELATED INTERNAL CONTROLS. Summary: ON 19 DECEMBER 2012, THE COMMODITY FUTURES TRADING COMMISSION (CFTC) ENTERED AN ORDER AGAINST UBS AG AND UBS SECURITIES JAPAN CO. LTD IN CONNECTION WITH THEIR INVESTIGATION OF LIBOR AND OTHER BENCHMARK INTEREST RATES. UBS AGREED TO PAY A TOTAL OF USD 700 MILLION TO THE CFTC, TO CEASE AND DESIST FROM FURTHER VIOLATIONS AS CHARGED, AND TAKE SPECIFIED STEPS TO ENSURE THE INTEGRITY AND RELIABILITY OF ITS LIBOR AND OTHER BENCHMARK INTEREST RATE SUBMISSIONS AND IMPROVE RELATED INTERNAL CONTROLS.