UBS AG LONDON BRANCH - Listing of UBS Actively Managed Certificates linked to the Denker Global Opportunities Portfolio

Listing of UBS Actively Managed Certificates linked to the Denker Global Opportunities Portfolio

UBS AG, London Branch
("UBS AG" or the "Company")
(Incorporated and domiciled in Switzerland)
(Registration number: CHE-101.329.561)

Listing of UBS Actively Managed Certificates linked to the Denker Global
Opportunities Portfolio.

The JSE Limited has granted UBS AG approval for the listing of UBS Portfolio
Notes linked to the Denker Global Opportunities Portfolio (the "Reference
Portfolio").

The Reference Portfolio, whose composition may vary from time to time, is
actively managed by the Reference Portfolio Advisor and represents a notional
investment in the Reference Portfolio Components as described in detail
below.

Background:

Denker Capital (Pty) Ltd ("Denker") is a leading Cape Town based investment
manager focused on the active management of client assets in a range of local
and global funds. More information about Denker can be found at
https://www.denkercapital.com. Denker is regulated by the Financial Services
Conduct Authority with license number 47075.

The investment strategy aims to deliver attractive real returns to investors
in the medium to long-term by investing in the equity of small and medium
sized companies, predominantly based in global developed markets, which trade
at attractive valuations relative to their long-term intrinsic value. The
investment opportunities in the portfolio are identified through in-depth
research on fundamentals, and the portfolio is constructed with a strong
focus on risk management.

Investment universe:

UNDERLYING STOCK UNIVERSE:     Developed Market (as defined in the most
                               recent MSCI Global Investable Market Indexes
                               Methodology) worldwide stocks; and may also
                               include stocks which are American Depository
                               Receipts   (ADRs)   and  Global   Depository
                               Receipts (GDRs). Shares listed on the Main
                               Board of the Johannesburg Stock Exchange may
                               also be incorporated.

UNDERLYING INDEX UNIVERSE:     Total Return Index Constituents include
                               indices that are exposed to Developed Market
                               (as defined in the most recent MSCI Global
                               Investable   Market   Indexes   Methodology)
                               worldwide stocks.

UNDERLYING ETF UNIVERSE:       ETFs that are physically replicated, exposed
                               to Developed Market (as defined in the most
                               recent MSCI Global Investable Market Indexes
                               Methodology) worldwide stocks or benchmark
                               indices as well as ETFs listed on the Main
                               Board of the Johannesburg Stock Exchange may
                               be incorporated as ETF Constituents.

UNDERLYING FX CONSTITUENTS:    Only FX Forwards exposed to G10 currencies
                               and   ZAR  may   be   incorporated   as  FX
                               Constituents in the Reference Portfolio.

UNDERLYING CURRENCY ACCOUNT:   USD, EUR, GBP, and CHF synthetic cash.


Other:

Noteholders should be aware that the Reference Portfolio Advisor is
independent of the Issuer. The performance of the Product is largely
dependent on the skill and decisions made by the Reference Portfolio Advisor.
Decisions made by the Reference Portfolio Advisor may not always be
profitable and therefore may have a material adverse impact on the value of
this Product. Moreover, past performance of other products managed by the
Reference Portfolio Advisor does not guarantee future positive performance
of this Product.

Listing information:

This listing (Series 38) is issued under the Information Memorandum of UBS
AG. Trading will commence on Wednesday, 07 August 2024.

INSTRUMENT NUMBER:          116856
ALPHA CODE:                 DNKGLO
ISIN:                       ZAE000337614
ISSUE SIZE (UNITS):         1,000,000
ISSUE PRICE (RAND/UNIT):    100.00

LISTING DATE:               07 August 2024
EXPIRY DATE:                12 August 2031

SECTOR:                     Specialist Securities
SUB-SECTOR:                 Actively Managed Certificates

FOREIGN STATUS:             The Notes are classified as Foreign for purposes
                            of the South African Reserve Bank Exchange
                            Control Regulations.

For further information kindly contact:
UBS KeyInvest South Africa
Tel.: +27 11 322 7129 / 7317
E-mail: keyinvestza@ubs.com
Web: http://keyinvest-za.ubs.com/AMC

Johannesburg
06 August 2024

Sponsor: UBS South Africa (Pty) Limited
Date: 06-08-2024 02:00:00
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