Approval of ZAR 14bn program for the issuance of South African Securities UBS AG London Branch (“UBS AG” or the “Company”) (Incorporated and domiciled in Switzerland) (Registration number: CH-270.3.004.646-4) Share code: UBNPNW ISIN: ZAE000211926 Share code: UBNPNX ISIN: ZAE000211918 Approval of ZAR 14bn program for the issuance of South African Securities UBS, acting through its London Branch in its capacity as Issuer, has received approval from the JSE Limited (the "JSE") to issue securities up to an amount of ZAR 14 billion. Issuances under the amended and updated program will allow UBS to broaden its product offering in the South African market. Any securities issued in terms of the program will be listed on the JSE Main Board and will be issued in terms of the placement document dated 08 February 2016, which was approved by the JSE. The placement document is available on request or can be collected during normal office hours at 1 Finsbury Avenue, EC2M 2PP, London and 64 Wierda Road East, Sandton, 2196. For further details on this program, please contact: James Beasley-Suffolk UBS AG, London Branch +44 207 568 3835 John Slettevold UBS South Africa (Pty) Limited +27 11 322 7317 Aveshen Pillay UBS South Africa (Pty) Limited +27 11 322 7129 Johannesburg Legal Advisor to the Issuer on South African Law: Webber Wentzel Legal Advisor to the Issuer on English Law: White & Case Sponsor to the Issuer: UBS South Africa (Pty) Limited 08 February 2016 Date: 08/02/2016 05:50:00 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.