Commentary & Deal Flow

Launched: Mar-29: €750m @ MS+22bp
Spread Set: Mar-29: MS+22bp

• Issuer: UBS Switzerland AG
• Guarantor: UBS Hypotheken Schweiz AG
• Form of the Notes: Uncertificated securities (einfache Wertrechte) constituting intermediated securities (Bucheffekten)
• Status of the Notes: Direct, unconditional, unsubordinated and (other than in relation to the Guarantee) unsecured obligations of the Issuer ranking pari passu without preference among themselves.
• Instrument Rating: AAA (Fitch)
• Original Tranche Size: €1bn
• Size: €750m
• Settlement: 03-Jun-26 (T+5)
• Maturity Date: 05-Mar-29
• Maturity Type: Soft Bullet
• Coupon: 3.304%
• Benchmark: DBR 0.25 Feb-29
• Interest Payment Dates: Payable annually in arrear on 5 March in each year, (and including) the Final Maturity Date
• Listing/Law/Denoms: SIX Swiss Exchange / Swiss Law / 100k+1k
• Clearing: SIX SIS Ltd. (CSD), Euroclear, Clearstream
• ISIN: CH1564488679 (Temporary). Will be consolidated and form a single series with the Existing Notes (ISIN: CH1331113469) on the Fungibility Date.
• Fungibility Date: 04-Jun-26
• Day Count Basis: Act/Act (ICMA), following, unadjusted
• Documentation: Covered Bond Programme
• FinSA prospectus: Base prospectus approved by the SIX Exchange Regulation Ltd in its capacity as review body pursuant to article 52 of the FinSA as of 12-Nov-25 as supplemented by the supplement thereto dated 4-Feb-26, 30-Mar-26 and 29-Apr-26 (together, the Prospectus)
• Target Market: The manufacturer target markets (MIFID II product governance) for the bonds are eligible counterparties and professional clients (all channels for distribution of the bonds are appropriate).
• Selling Restrictions: Reg S, TEFRA D as further specified in the Base Prospectus
• Swiss Withholding Tax: Applicable
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities. Details of the fee may be made available on request to investors participating in the transaction
• Global Coordinator and Joint Lead Manager: UBS Investment Bank
• Joint Lead Managers: Commerzbank and Natixis
• Billing & Delivery: UBS Investment Bank
• Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended). It is not a prospectus. The Prospectus (including the supplements thereto) and the Final Terms, when published, can be obtained in electronic or printed form, free of charge, during normal business hours from the Issuer at UBS AG, Investment Bank, Swiss Prospectus Switzerland, P.O. Box, 8098 Zurich, Switzerland (voicemail: +41 44 239 47 03, fax: +41 44 239 69 14, email: swiss-prospectus@ubs.com)