EFTA00238242.pdf

Message From: Sent: To: Subject: 6/28/2016 1:43:58 PM Re: A call Perfect - will do. Thank you From: Molly Ladd Date: Tuesday, June 28, 2016 at 9:42 AM Ton Cc: Molly Ladd Subject: RE: A call That works for Lyle! I will send a calendar invite to you and Ghislaine, if you would not mind passing along to any advisors that will be joining on your end? Thank you! Molly From: [rra Sent: Tuesday, June 28, 2016 8:49 AM To: Ladd, Molly Subject: Re: A call Thank you, Molly. Ms. Maxwell's advisors are available on Friday at 11:00am ET. Does that still work? We can use the following conference line... Dial-in Number: All the best, From: Molly Ladd Dote: Monday, June 27, 2016 at 5:55 PM To: Cc: TheTerraMarProject < >, Molly Ladd Subject: RE: A call Lyle is traveling tomorrow, but does have availability Wednesday and Friday this week. Please find some times below. Wednesday, June 29: Between 10AM-11AM; 2:30PM Friday, July 1: Any time Thank you! Molly CONFIDENTIAL UBSTERRAMAR00002697 EFTA00238242 From: Stackman, Scott Sent Monday, June 27, 2016 5:31 PM To: 'G Maxwell' Cc: * ; Casriel, Lyle; Ladd, Molly Subject: RE: A call Yes. Lyle will do first call. Scott L. Stackman Managing Director - Investments Private Wealth Advisor UBS Private Wealth Management 299 Park Avenue 25th Floor New York, NY. 10171 Stackman/Casriel Group — Barron's Top 100 ---Original Message--- From: G Maxwell [ Sent: Monday, June 27, 2016 05;26 PM Eastern Standard Time To: Stackman, Scott Cc: ; Casriel, Lyle; Ladd, Molly Subject: Re: A call Let's see if we can do a call before and then another one when you are. Back Friday does that ? Thx The TerraMar Project From: Sent:June 27, 2016 5:00 PM To Subject:RE: A call I am traveling. Would it be possible to do it on Friday. If not Lyle can be in the call before. Scott L. Stackman Managing Director - Investments Private Wealth Advisor UBS Private Wealth Management 299 Park Avenue 25th Floor New York, NY. 10171 CONFIDENTIAL UBSTERRAMAR00002698 EFTA00238243 Stackman/Casriel Group — Barron's Top 100 ---Original Message From: G Maxwell [ Sent: Monday, June 27, 2016 10.44 A \ I Eastern Standard Time To: Stackman, Scott Cc: - Subject: .\ call Hi there -Hope you had a good call thank you for the bellow - want to set up a call with my lawyer today or tomorrow if that is possible can coordinate Best G From: Date:Monday, June 27, 2016 at 10:10 AM To: NY Max < Cc:Scott Stockman Subject:After the U.K. referendum: What's next? Ghi slaine, Friday's market reaction to the Brexit vote was clearly not expected by markets. With the vote as close as it was the margin of error in the polling data caught market participants off-guard. When events like this happen, we believe ifs important to pause and assess as opposed to making a quick or emotional decisions. It is impossible to discount what happens next in Europe or in financial markets. Along with the shock of Thursday's results, there is also now some sentiment that the voting process and results could be contested in a second referendum down the line. There will clearly be effects from the UK's departure but this process won't happen to overnight. It will take years to understand and work out. There will be winners and losers and markets will need time to digest that information. Additionally there will be policy responses and political posturing that surely will move markets, the challenge is knowing who might say what at any given time and how the market may respond. Below is a note and links to timely research from our Chief Investment Officer, Mike Ryan. In addition we have attached an interesting article from Ken Rogoff of Harvard along with a helpful chart of the process for the UK from here. If you'd like to set up time to discuss these events, and how they impact your portfolio please let us know. Best, Lyle & Scott U.K. voters delivered an historic decision in choosing to leave the European Union. It's a move that has reverberated around the globe, further increasing market uncertainty and investor anxiety. However, We want to help you make sense of what it all means within the context of the larger economy, global financial markets and your own portfolio. CONFIDENTIAL UBSTERRAMAR00002699 EFTA00238244 We arc committed to staying on top of this rapidly developing event and its implications. Our analysts and strategists at CIO Wealth Management Research will continue to publish ongoing updates as events unfold. Their latest insights are included below: • (1O Note: Brexit—navigatine, the aftermath Markt alert ti h referendum implications • Listen to the replay front our special June 24 call: Replay dial-in Replay code (note: please listen to the entire message) Important disclosure CIO Wealth Management Research is provided by UBS Financial Services Inc. UBS Financial Services Incorporated of Puerto Rico is a subsidiary of UBS Financial Services Inc. In Canada. CIO Wealth Management Research is provided by UBS Investment Management Canada Inc. The views expressed in the research provided do not constitute a personal recommendation or take into account the particular investment objectives, investment strategies, financial situation and needs of any specific individuals. They arc based on numerous assumptions. Different assumptions could result in materially different results. We recommend that you obtain financial and/or tax advice as to the implications (including tax) prior to investing. UBS Financial Services Inc. is registered with the U.S. Securities and Exchange Commission (SEC) as an investment adviser and a broker-duller. UBS Financial Services Incorporated of Paolo Rico is registered as a broker-dealer. As a firm providing wealth management services to clients, we offs both investment advisory and brokerage services. Advisory services and brokerage services are separate and distinct, differ in material mays and are governed by different laws and separate contracts. It is important that you carefully read the agreements and disclosures UBS provides to you about the products or seniors offered. For more information, please visit ow website at www.ubscom/oorkineoithus. CUBS 2016. All rights reserved. UBS Financial Services Inc. is a subsidiary. of UBS AG. Member FINRA/SIPC. All other trademarks, registered trademarks, service marks and registered service marks are of their respective companies. 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