UBS. AG and Credit Suisse AG are both direct wholly-owned subsidiaries of UBS Group AG.
UBS. AG knows and accepts all legal transactions entered into and all movements in assets and liabilities, as against the merger balance sheet, incurred since that date. For the avoidance of doubt, the Parties acknowledge that the transfer of the assets and liabilities of Credit Suisse AG's London branch to UBS AG's London branch and Credit Suisse AG (DIFC Branch) (DIFC registration number
UBS. AG assumes the tax base for the transferring assets and liabilities and the degree of use for the input VAT deduction of the transferring company. For the avoidance of doubt, should the Merger be recognized as being subject to any non-Swiss VAT the Parties undertake to and cooperate with, if necessary, execute any action, not lim- ited to file any VAT declarations, required under the respective VAT law of such relevant jurisdiction.