Most preferred Least preferred Portfolio weights ° US e . eucoRs Real ue auidity ® Western winners from EM Hedge Fundss | 5% 10% igh Grade eage Funds ‘i Bonds g rowth Private Patty Y 6% Ld High quality dividend yields LF Inv Grade e Event-driven and relative value cauities USA | Soper es hedge funds 10% Vie “ e Natural gas growth gainers Re orcs 6% Emerging Eaves Markets Bonds e US high yield © Developed market 20% EmMa Equities EUities Other © Global investment grade credit government bonds 6% ” Fixed income © Event-driven and relative value hedge funds Note: Portfolio weights are for an advisory e EM corporate bonds client with a "EUR moderate" profile. For aa oT portfolio weights related to other risk profiles e USD e CHF please contact your client advisor. © GBP © EUR ° CAD e Agriculture Commodities Etre A Recent upgrades yy Recent downgrades 2 UBS Please see important disclaimer and disclosures at the end of the document. HOUSE_OVERSIGHT_024139