Important UBS Legal Information and Disclosures

The UBS Financial Education Program (the "Program") is provided by UBS Financial Services Inc. solely for the convenience of authorized users and for educational purposes only. The Program should not be considered as professional or investment advice nor a recommendation or solicitation to buy or sell any product or service. Certain products and services described via the Program may not be available to all Program participants or in all jurisdictions.

The Program is provided only under such circumstances as may be permitted by applicable law and has not been prepared with regard to the specific investment objectives, financial situation or particular needs of any specific person. The Program is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments or to participate in any particular trading strategy. Program participants should not construe the Program offering or providing legal, tax, accounting, regulatory, or other specialist or technical advice or services or investment advice or a personal recommendation.

No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the Program or the materials provided therein except with respect to information concerning UBS, nor are they intended to be a complete statement or summary of the securities markets or developments referred to therein. The Program, including any and all information provided therein, should not be regarded by Program participants as a substitute for the exercise of their own judgment.

Any opinions expressed within the Program are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of UBS as a result of using different assumptions and criteria. UBS is under no obligation to update or keep current the information or materials contained herein, and past performance is not necessarily indicative of future results.

Neither UBS nor any of its directors, officers, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of the Program or reliance upon any information or materials provided through the Program.

The Program website is operated and provided by Everfi, Inc. ("Everfi"), a third party service provider appointed by UBS. All materials and information published, distributed or otherwise made available or accessible to Program participants via the Program website are provided by Everfi and are provided "as is" and "as available". Use of the Program website is subject to Everfi's Terms of Service and General Privacy Policy. Please note that Everfi's terms, policies and security practices may differ from the standards and policies applicable to the [UBS Retirement Plan Consulting Services (www.ubs.com/rpcs)] website. Please read Everfi's terms and policies carefully.

UBS has no control over, does not assume any responsibility for and does not make any warranties or representations as to the Program website and/or the Materials provided herein. Without limiting the foregoing, UBS does not warrant the accuracy, timeliness, completeness, reliability or availability of the Program website and the Materials, and/or the information or results obtained from use of the Program website and/or the Materials, or that the Program website and the Materials are virus-free or error-free.

The key symbol and UBS are among the registered and unregistered trademarks of UBS. UBS Financial Services is a subsidiary of UBS AG. Member FINRA. Member SIPC.

Tax/Legal Disclosure

UBS Financial Services Inc. and its affiliates do not provide legal or tax advice. Clients should consult with their legal and tax advisors regarding their personal circumstances.

Asset Allocation

Asset allocation neither assures a profit nor protects against loss in declining markets.

CDs

CDs issued by FDIC–insured institutions are generally eligible for FDIC insurance. For more information regarding FDIC coverage, please visit www.fdic.gov.

Dividend Paying Stocks

Investing in dividend paying stocks involves risks. Companies cannot assure or guarantee a certain rate of return or dividend yield; they can increase, decrease or totally eliminate their dividends without notice. A fund's investment return and principal value will fluctuate with market conditions, and it is possible to lose money.

Equity Risk

The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy.

Fixed Income Risk

The value of a portfolio will fluctuate based on the value of the underlying securities. Two main risks related to fixed income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to make principal and interest payments.

International Securities Risk

The value of a portfolio will fluctuate based on the value of the underlying securities. Foreign investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments.

Municipals

Municipal securities are subject to the risk that legislative changes and local and business developments may adversely affect the yield or value of the strategy’s investments in such securities. An investment in any municipal portfolio should be made with an understanding of the risks involved in investing in municipal bonds; such as interest rate risk, credit risk and market risk, including the possible loss of principal. The value of the portfolio will fluctuate based on the value of the underlying securities. Clients should contact their tax advisor regarding the suitability of tax-exempt investments in their portfolio. If sold prior to maturity, municipal securities are subject to gain/losses based on the level of interest rates, market conditions and the credit quality of the issuer. Income may be subject to the alternative minimum tax (AMT) and/or state and local taxes, based on state of residence.

529 Plans

All 529 Plan provisions, including plan minimums, fees, expenses, requirements, features and benefits vary by state. 529 plans are sold with program descriptions that contain details of the risks, fees and charges associated with the particular investment which you should read carefully before investing. Even though individuals are not required to invest in their in-state plan, some states do provide tax or other advantages exclusively to residents who invest in their own state’s plan. For example, many states offer a state income tax deduction for contributions and/or state income tax exemption for qualified withdrawals. States may impose state tax liability on withdrawals and/or earnings from out-of-state 529 plans. In addition, some states offer prepaid tuition plans. You should carefully review this with your tax advisor before deciding on a 529 plan. Neither UBS Financial Services Inc. nor any of its employees provide tax or legal advice. The tax implications of a 529 Plan should be discussed with your legal and/or tax advisors. Money Market Fund Past performance is not a guarantee of future results. Current and future portfolio holdings are subject to risk. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

Mutual Funds

Mutual funds are sold by prospectus. For more complete information about a fund, including the investment objectives, charges, expenses and risk factors, contact your Financial Advisor for a prospectus. The prospectus contains this and other important information that you should read carefully before investing. Investors should be aware that the value of mutual funds changes from day to day. Therefore, an investment's return and principal value will fluctuate so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost.