Notification of Potential Adjustment Event on UBS Long/Short Certificates on Naspers (Long) vs. Tencent (Short) UBS AG, London Branch (“UBS AG” or the “Company”) (Incorporated and domiciled in Switzerland) (Registration number: CH-270.3.004.646-4) Notification of Potential Adjustment Event on UBS Long/Short Certificates on Naspers Limited (Long) vs. Tencent Holdings Limited (Short) Certificateholders of UBS Long/Short Certificates on Naspers Limited (Long) vs. Tencent Holdings Limited (Short) are hereby advised of a Potential Adjustment Event that may have a diluting or concentrative effect on the theoretical value of the relevant Shares. In accordance with the Results of the Equity Capital Raise announcement by Naspers Limited on 04 December 2015, the Short Shares ratio will change. The Calculation Agent has determined details and effective date of the adjustment as per the following: Old Short Shares ratio = 7.579532 New Short Shares ratio = 7.262183 Effective date: 11 December 2015 The Potential Adjustment Event affects the following certificates: INSTRUMENT NUMBER: 56943 ALPHA CODE: UBNPNW ISIN: ZAE000211926 INSTRUMENT NUMBER: 56941 ALPHA CODE: UBNPNX ISIN: ZAE000211918 The Calculation Agent will determine the effect of the Potential Adjustment Event and make the corresponding adjustments as determined appropriate to account for this event. This will be communicated directly to Certificateholders. The adjustment may have an effect of the value of the certificate. For further information kindly contact: UBS KeyInvest South Africa Tel.: +27 11 322 7129 / 7317 E-mail: keyinvestza@ubs.com Web: http://keyinvest-za.ubs.com/ Johannesburg 04 December 2015 Sponsor: UBS South Africa (Pty) Limited Date: 04/12/2015 09:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.