UBS AG

Postfach

CH-8098 Zurich

Tel +41-44-234 11 11

www.ubs.com

March 13, 2015

US Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

Re: Notice of Disclosure filed in Exchange Act Annual Report under Section 219 of the Iran Threat

Reduction and Syria Human Rights Act of 2012 and Section 13(r) of the Exchange Act

Ladies and Gentlemen:

Pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 and Section 13(r) of the Securities Exchange Act of 1934, as amended, notice is hereby provided that UBS Group AG and UBS AG have made disclosure pursuant to those provisions in their joint Annual Report on Form 20-F for the year ended December 31, 2014, which was filed with the Securities and Exchange Commission on March 13, 2015.

Respectfully submitted,

UBS AG

UBS Group AG

By:

/s/ David Kelly

David Kelly

Managing Director

/s/ Sarah M. Starkweather

Sarah Starkweather

Executive Director