BRIEF-DBRS Morningstar Places UBS AG’S AA Ratings Under Review

* DBRS MORNINGSTAR PLACES UBS AG’S AA (LOW) RATINGS UNDER REVIEW WITH NEGATIVE IMPLICATIONS FOLLOWING THE ANNOUNCEMENT OF CREDIT SUISSE ACQUISITION

* DBRS MORNINGSTAR - UNDER REVIEW WITH NEGATIVE IMPLICATIONS FOR UBS CONSIDERS IT REMAINS DIFFICULT TO ASSESS FULL CAPITAL, & FINANCIAL, IMPACT OF DEAL * DBRS MORNINGSTAR - ACQUISITION CREATES POTENTIALLY SIGNIFICANT RISKS RELATED TO THE EXECUTION OF MERGING A SUBSTANTIAL BANKING INSTITUTION INTO UBS Further company coverage:

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