UBS AG - Noteholders are hereby referred to the News Release dated 17 June 2024, issued by UBS Group AG and UBS AG

Noteholders are hereby referred to the News Release dated 17 June 2024, issued by UBS Group AG and UBS AG

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

Noteholders are hereby referred to the News Release dated 17 June 2024,
issued by UBS Group AG and UBS AG as detailed below.

UBS announces voluntary redemption offer by Credit Suisse Supply Chain Funds
to its investors

•   The offer aims to give fund investors certainty, with an accelerated
    exit from their positions and a high level of financial recovery.
•   Offer to redeem fund units at 90% of the Net Asset Value.
•   No material impact on UBS Group AG financial results or CET1 capital
    expected.

Zurich, June 17, 2024 – UBS announces today that the Credit Suisse Supply
Chain Finance Funds have made an offer to redeem fund units. Fund investors
who choose to accept the offer will be redeemed at 90% of the Net Asset Value
determined on 25 February 2021, net of any payments made to the fund investors
since then, through newly established feeder subfunds. The offer commenced
on 17 June 2024 and will be open until 31 July 2024. Fund investors will
receive details of the redemption offer through their custodian and should
review the terms and the disclosures that accompany the offer.

The offer aims to give fund investors certainty, an accelerated exit from
their positions and a high level of financial recovery. It will allow an
early exit from fund investments compared to distributions under the ongoing
recovery process.

The offer will be funded by UBS through the purchase of units of the feeder
subfunds. The offer is not expected to have a material effect on the financial
results or CET1 capital of UBS Group AG, reflecting provisions recorded in
connection with the acquisition of Credit Suisse Group AG. UBS AG expects to
record a provision of around USD 0.9bn on a consolidated basis in connection
with the offer in 2Q24. No material impact is expected on UBS AG on a
standalone basis.

The investment in the Supply Chain Finance Funds will be managed as part of
UBS's Non-Core and Legacy portfolio.

UBS Group AG and UBS AG

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
05 August 2024

Sponsor: UBS South Africa (Pty) Limited

Date: 05-08-2024 10:00:00
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