UBS Announces Redemption of Ten ETNs

UBS AG announced today that it will redeem all of the outstanding securities in each of the ten series of UBS-issued exchange traded notes set forth in the following table (collectively, the “ETNs”), which are currently listed on NYSE Arca. UBS AG expects to deliver redemption notices with respect to each of the ETNs to holders of the applicable ETNs with Call Settlement Dates as set forth in the table below. With respect to BDCZ, this press release is an advance announcement of the anticipated redemption and does not constitute the call notice under the applicable prospectus supplement. UBS AG expects to issue the call notice for BDCZ on November 24, 2026.

Table-1

^[1] The table above provides a hyperlink to the relevant prospectus supplement for each of the ETNs, which are identified by their names. Each of the above ETNs are part of the UBS AG’s Medium Term Notes, Series B, on which UBS AG is sole obligor. Capitalized terms used but not defined in this press release shall have the meanings ascribed to such terms in the relevant prospectus supplement (including, as applicable, any product supplement and pricing supplement (each such supplement, a “prospectus supplement”)) for the ETNs.

^[2] The applicable prospectus addenda, each containing a link to the updated base prospectus, can be accessed here: BDCX and BDCZ, CEFD, HDLB, IFED, MLPR, MVRL, PFFL, SMHB and UCIB.

The Call Settlement Amount or Redemption Amount, as applicable, payable on the Call Settlement Date will be calculated as specified in the relevant prospectus supplement. UBS will pay the applicable Call Settlement Amount or Redemption Amount to investors holding such ETNs on the applicable Call Settlement Date.

We expect that the last day of trading for HDLB, PFFL and SMHB will be December 16, 2026, and the last day of trading for the rest the ETNs in Table-1 above will be December 17, 2026.

Additional details regarding the redemption dates and valuation dates are included in Table-2 below.

Table-2

^[3] This press release does not constitute the BDCZ call notice, and the BDCZ call notice is expected to be issued on November 24, 2026.

^[4] Valuation Date in the case of UCIB.

As disclosed in more detail in the applicable prospectus supplement(s) for the ETNs, the market value of the ETNs may be influenced by, among other things, supply and demand for the ETNs. It is possible that the discontinuance of further issuances of the ETNs by UBS AG may influence the market value of the ETNs. The suspension of new issuances of the ETNs could affect the liquidity of the market for the ETNs, potentially leading to insufficient supply and causing the ETNs to trade at a premium above their closing or intraday indicative value. Any such premium may subsequently decrease at any time and for any reason without warning, resulting in financial loss to sellers who paid this premium when they acquired their ETNs. In addition, on the applicable Call Settlement Date, holders will receive the Call Settlement Amount or Redemption Amount, as applicable, as described in each applicable prospectus supplement but will not receive any premium thereto. Accordingly, investors who purchase the ETNs at any time prior to the Call Settlement Date for an amount that is greater than the Call Settlement Amount or Redemption Amount, as applicable (including paying any premium to the indicative value of the ETNs), will suffer a loss on their investment if they hold their ETNs until the Call Settlement Date.

If investors elect to redeem any such ETNs, any redemption will be at the redemption value set forth in the applicable prospectus supplement(s) and will not include any premium above that value. Investors should always consult their financial advisors and compare the intraday indicative value of the ETNs with the ETNs’ then-prevailing market price before purchasing or selling any such ETNs, especially notes with premium characteristics. The applicable prospectus supplement(s) for the ETNs can be accessed by clicking on the name of the ETN identified in the table above as well as on the SEC’s website at sec.gov.

This announcement does not affect the terms of the outstanding ETNs, including the right of holders to require UBS AG to redeem their ETNs on the terms and at the redemption price set forth in the applicable prospectus supplement(s). This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these ETNs in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” that are subject to risks and uncertainties, and actual results may differ materially. These statements could contain words such as “possible,” “intend,” “will,” “may,” “intends,” “would,” “if,” “expect,” “potentially” or other similar expressions. Forward-looking statements, including those relating to UBS AG’s plans for the ETNs, are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. While these forward-looking statements represent UBS’s judgments, expectations and objectives concerning the matters described, a number of risks, uncertainties and other important factors, including whether UBS AG will actually complete the redemption of the ETNs, could cause actual developments and results to differ materially from UBS’s expectations. For a discussion of the risks and uncertainties that may affect the ETNs please refer to the “Risk Factors” in the applicable prospectus supplement(s) relating to the ETNs referenced in Table-1. UBS is not under any obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

About ETRACS ETNs

ETRACS ETNs are senior unsecured notes issued by UBS AG, are traded on NYSE Arca or NASDAQ, and can be bought and sold through a broker or financial advisor. An investment in ETRACS ETNs is subject to a number of risks, including the risk of loss of some or all of the investor’s principal, and is subject to the creditworthiness of UBS AG. Investors are not guaranteed any coupon or distribution amount under the ETRACS ETNs. Prior to making an investment in the ETRACS ETNs, investors should take into account whether or not the market price is tracking the intraday indicative value of the ETRACS ETNs. We urge you to read the more detailed explanation of risks described under “Risk Factors” in the applicable prospectus supplement for each ETRACS ETN.

UBS AG has filed a registration statement (including a prospectus and supplements thereto) with the Securities and Exchange Commission, or SEC, for the offerings of securities to which this communication relates. Before you invest, you should read the relevant prospectus, along with the applicable prospectus supplement(s) and/or pricing supplement(s) to understand fully the terms of the ETNs and other considerations that are important in making a decision about investing in the ETNs. The applicable offering document for each ETN may be obtained by clicking on the name of each ETN identified above. You may also get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. The securities related to the offerings are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency of the United States, Switzerland or any other jurisdiction.

About UBS

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. UBS manages 7.3 trillion dollars of invested assets as per the third quarter 2026. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

In the US, securities underwriting, trading and brokerage activities and M&A advisor activities are provided by UBS Securities LLC, a registered broker/dealer that is a wholly owned subsidiary of UBS AG, a member of the New York Stock Exchange and other principal exchanges, and a member of SIPC (http://www.sipc.org/). UBS Financial Services Inc. is a registered broker/dealer and affiliate of UBS Securities LLC.

This material is issued by UBS AG and/or any of its subsidiaries and/or any of its affiliates (“UBS”). This document was produced by and the opinions expressed are those of UBS as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of UBS to any person to buy or sell any security. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but UBS does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof. Products and services mentioned in this material may not be available for residents of certain jurisdictions. Past performance is not necessarily indicative of future results. Please consult the restrictions relating to the product or service in question for further information.

The ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN, the ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN and the ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN (“HDLB, PFFL and SMHB ETNs”) are not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade mark or the Index Price at any time or in any other respect.

Alerian MLP Index and AMZ are trademarks of Alerian and their use is granted under a license from Alerian.

The S-Network Composite Closed-End Fund Index is a service mark of S-Network Global Indexes, Inc. (“S-Network”) and its use is granted under a license from S-Network. S-Network does not guarantee the accuracy and/or completeness of the S-Network Composite Closed-End Fund Index or any data included therein, and S-Network shall have no liability for any errors, omissions, interruptions, or defects therein. S-Network makes no warranty, express or implied, representations or promises, as to results to be obtained by UBS AG, or any other person or entity from the use of the S-Network Composite Closed-End Fund Index or any data included therein. S-Network makes no express or implied warranties, representations or promises, regarding the originality, merchantability, suitability, non-infringement, or fitness for a particular purpose or use with respect to the S-Network Composite Closed-End Fund Index or any data included therein. Without limiting any of the foregoing, in no event shall S-Network have any liability for any direct, indirect, special, incidental, punitive, consequential, or other damages (including lost profits), even if notified of the possibility of such damages.

The ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (“MVRL ETN”) is not sponsored, endorsed, sold or promoted by MarketVector Indexes GmbH (“Licensor”) and Licensor makes no representation or warranty, express or implied, to the owners of the MVRL ETN or any member of the public regarding the advisability of investing in securities generally or in the MVRL ETN particularly or the ability of the Market Vectors^® MVIS US Mortgage REITs Index to track the performance of the US mortgage REIT market.

The ETRACS MarketVector Business Development Companies Liquid Index ETN and the ETRACS Quarterly Pay 1.5x Leveraged MarketVector BDC Liquid Index ETN (“BDC ETNs”) are not sponsored, endorsed, sold or promoted by MarketVector Indexes GmbH (“Licensor”) and Licensor makes no representation or warranty, express or implied, to the owners of the BDC ETNs or any member of the public regarding the advisability of investing in securities generally or in the BDC ETNs particularly or the ability of the MarketVector US Business Development Companies Liquid Index to track the performance of the US BDC market.

Bloomberg is not affiliated with UBS. UBS assumes sole responsibility for this marketing material, which has not been reviewed by Bloomberg. None of Bloomberg, UBS AG, UBS Securities LLC or any of their subsidiaries or affiliates (collectively, “Bloomberg or UBS”) guarantees the accuracy and/or the completeness of the UBS Bloomberg Constant Maturity Commodity Index (CMCI) or any data related thereto and neither of Bloomberg or UBS shall have any liability for any errors, omissions or interruptions therein. Neither of Bloomberg or UBS makes any warranty, express or implied, as to results to be obtained by owners of the securities or any other person or entity from the use of the UBS Bloomberg Constant Maturity Commodity Index (CMCI) or any data related thereto. Neither of Bloomberg or UBS makes any express or implied warranties and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the UBS Bloomberg Constant Maturity Commodity Index (CMCI) or any data related thereto. Without limiting any of the foregoing, to the maximum extent allowed by law, Bloomberg, its licensors (including UBS), and its and their respective employees, contractors, agents, suppliers and vendors shall have no liability or responsibility whatsoever for any injury or damages— whether direct, indirect, consequential, incidental, punitive or otherwise—arising in connection with the UBS Bloomberg Constant Maturity Commodity Index (CMCI) or any data or values relating thereto—whether arising from their negligence or otherwise, even if notified of the possibility thereof. There are no third-party beneficiaries of any agreements or arrangements among Bloomberg and UBS Securities LLC, other than UBS AG.

The ETRACS IFED Invest with the Fed TR Index ETN (“IFED ETN”) is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates or Economic Index Associates LLC (Nasdaq and EIA, together with their affiliates, are referred to as the “Corporations”). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the IFED ETN. The Corporations make no representation or warranty, express or implied to the owners of the IFED ETN or any member of the public regarding the advisability of investing in securities generally or in the IFED ETN particularly, or the ability of the Nasdaq IFED US Large-Cap Index™ to track general stock market performance. The Corporations’ only relationship to UBS AG (“Licensee”) is in the licensing of the Nasdaq^®, IFED Large-Cap US Equity Index™, Economic Index Associates™, Economic Indexing™, Invest with the Fed™, IFED™, and certain trade names of the Corporations and the use of the Nasdaq IFED US Large-Cap Index™ which is determined, composed and calculated by Nasdaq without regard to Licensee or the IFED ETN. Nasdaq has no obligation to take the needs of the Licensee or the owners of the IFED ETN into consideration in determining, composing or calculating the Nasdaq IFED US Large-Cap Index. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the IFED ETN to be issued or in the determination or calculation of the equation by which the IFED ETN is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the IFED ETN.

UBS specifically prohibits the redistribution or reproduction of this communication in whole or in part without the prior written permission of UBS and UBS accepts no liability whatsoever for the actions of third parties in this respect.

© UBS 2026. The key symbol, UBS and ETRACS are among the registered and unregistered trademarks of UBS. Other marks may be trademarks of their respective owners. All rights reserved.

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¹ Individual investors should instruct their broker/advisor/custodian to call us or should call together with their broker/advisor/custodian.

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