Mr Peter A. Wuffli UBS AG Group Chief Executive Officer
Bahnhofstrasse 45,
CH-8098 Zurich

Dear Mr Wuffli,
InvestorVoice is an organisation representing individual investors in public companies. Our members are stakeholders (investors, employees, pensioners etc) in UBS AG as well as other public companies. InvestorVoice is also a direct shareholder in UBS AG. For further information regarding InvestorVoice, please visit our website investorvoice.co.uk. Our members would like the Board to explain why ................................................................................................................................... We would be grateful if you would respond to this question by replying to the above address.
Please note that you response will be made available only to individuals who have subscribed to InvestorVoice.

Yours faithfully,

Peter Dwyer InvestorVoice

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