UBS AG - Listing of UBS One Star Autocallable Note (the "Notes") due 11 February 2030 Series 11

Listing of UBS One Star Autocallable Note (the "Notes") due 11 February 2030 – Series 11

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

Listing of UBS One Star Autocallable Note (the "Notes") due 11 February 2030
– Series 11.

The JSE Limited has granted UBS approval for the listing of the Autocallable
Note due 11 February 2030.

An autocallable is a structured product which pays investors return payments,
subject to an underlying reference asset(s) being at or above a specified
level. The products have a fixed maximum tenor; however, the tenor may be
shorter if the product is called. The product has set observation dates on
which the return payments could be made, and the product can be called early.
The return paid by the product is financed by a short position in a put
option. The put option has a tenor that matches the maximum tenor of the
product.

The Notes are a notional rand denominated structured product referencing
South African stocks. This product offers a return if on any Observation
Date all Underlyings close at or above the Contingent Coupon Level. In this
case, the investor will receive a fixed payment for every observation period
that has passed since inception. The product also allows for early redemption
before expiry, with the investor receiving back their invested capital on
top of the relevant return for the relevant period if all Underlyings close
at or above a specific Mandatory Early Termination Level on any Early
Termination Observation Date.

If no autocall event occurs, the investor will receive 100% of the Nominal
on the Redemption Date provided none of the Knock-In Levels have been breached
on the Expiration Date or provided any Underlying closes at or above the One
Star Barrier Level on the Expiration Date.

If at least one of the Underlyings closes below its respective Knock-In Level
at expiry and none of the Underlyings closes at or above the One Star Barrier
level at expiry, the redemption value will reflect the performance of the
worst performing Underlying.

This listing is issued under the Information Memorandum of UBS AG. Trading
will commence on Friday, 14 February 2025.

INSTRUMENT NUMBER:           119637
ALPHA CODE:                  UBGPAH
ISIN:                        ZAE000343141
ISSUE SIZE (UNITS):          100,000 (unit quotation)
ISSUE PRICE (RAND):          1,000 per Note

UNDERLYING STOCKS:           Sibanye Stillwater Limited
                             (Bloomberg: SSW SJ Equity) ("Share 1")

                             Anglo American Platinum Limited
                             (Bloomberg: AMS SJ Equity) ("Share 2")

                             Impala Platinum Holdings Limited
                             (Bloomberg: IMP SJ Equity) ("Share 3")

                             Northam Platinnum Holdings Limited
                             (Bloomberg: NPH SJ Equity) ("Share 4")

LISTING DATE:               14 February 2025
EXPIRY DATE:                11 February 2030

Underlyings and Levels (on Pricing Date in ZAc):
 Share      Initial    Contingent   Mandatory Early      Knock-In   One Star
              Level Coupon Level        Termination         Level      Level
                                              Level
              Share     67.00% of     67.00% of the     50.00% of    100.00%
            Closing     the Share     Share Closing     the Share     of the
              Level       Closing             Level       Closing      Share
                            Level                           Level    Closing
                                                                       Level
SSW   SJ      1,913         1,282               1,282         957      1,913
AMS   SJ     68,573        45,944              45,944      34,287     68,573
IMP   SJ     10,175         6,817               6,817       5,088     10,175
NPH   SJ     12,907         8,648               8,648       6,454     12,907

Observation Date(s):

n     Date
1     09 February 2026
2     08 February 2027
3     07 February 2028
4     05 February 2029
5     11 February 2030

Early Termination Observation Date(s):

n     Date
1     09 February 2026
2     08 February 2027
3     07 February 2028
4     05 February 2029
5     11 February 2030

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/products

Johannesburg
13 February 2025

Sponsor: UBS South Africa (Pty) Limited

Date: 13-02-2025 03:00:00
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