ETRACS Alerian MLP Index ETN Series B due July 18, 2042 424B Filings

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation. The Notes have a trade date of February 26, 2026, settlement date of March 2, 2026, and a stated maturity on or about March 2, 2029. Each Note has a principal amount of $10 and a minimum investment of 100 Notes ($1,000). The Notes pay a contingent coupon only if the underlying closing level on an observation date meets or exceeds a coupon barrier; they are automatically called if the underlying equals or exceeds the initial level on any quarterly observation date (beginning after six months). If not called, principal is protected at maturity only if the final level is at or above the downside threshold (example: $60.00, or 60.00% of the initial level); otherwise repayment can be reduced proportionally and investors could lose a significant portion or all principal. UBS estimates the initial value per Note between $9.37 and $9.62.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation due March 2, 2029. The notes pay a contingent coupon on each coupon payment date only if the underlying closing level on the observation date is at or above the coupon barrier; otherwise no coupon is paid.

The notes are subject to an automatic call on any quarterly observation date (beginning after six months) if the closing level is at or above the initial level; on a call UBS pays principal plus any contingent coupon and the notes terminate. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment equals $10 x (1 + underlying return), which can result in a loss of part or all of principal.

Key published terms include trade date February 26, 2026, settlement March 2, 2026, final valuation date February 28, 2029, maturity March 2, 2029, minimum investment 100 notes (principal $1,000), an illustrative contingent coupon rate of 22.85% per annum (contingent coupon $0.5713 per $10 note), and an estimated initial value of $9.74 per $10 note. All payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes mature on March 2, 2029, with a trade date of February 26, 2026 and settlement on March 2, 2026. UBS will pay a contingent coupon on each coupon payment date only if the underlying’s closing level on the applicable observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes are automatically called if the underlying’s closing level on any monthly observation date (beginning after three months) is at or above the initial level, in which case holders receive principal plus any contingent coupon due on the call settlement date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if below, repayment is reduced pro rata to the underlying return, and investors could lose a significant portion or all principal. Minimum investment is 100 Notes at $1,000. The preliminary pricing shows an estimated initial value range of $9.37 to $9.62 per Note and an illustrative contingent coupon rate of 17.36% per annum in the examples. All payments are subject to UBS credit risk.

UBS AG offers a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc. due on or about March 2, 2027. The trade date is February 26, 2026 with expected settlement on March 2, 2026.

The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and are automatically called if the underlying closes at or above the initial level on any prior observation date. If not called, principal repayment at maturity depends on the final level versus a downside threshold and could result in a loss up to the full principal.

Example terms shown: principal amount $10 per Note, minimum investment $1,000, estimated initial value between $9.45 and $9.70, and a hypothetical contingent coupon rate of 11.31% (contingent coupon $0.5655 per $10 Note). All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc. due on or about March 2, 2029. The Notes pay contingent coupons only if observation-date closes meet the coupon barrier and are subject to automatic early call if the underlying equals or exceeds the initial level on an observation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise principal is reduced proportionally to the underlying return, and investors could lose a significant portion or all of their investment. Trade date is February 26, 2026 with settlement expected March 2, 2026. Minimum investment is $1,000 (100 Notes); estimated initial value range is $9.20–$9.45 per Note. All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation stock with a roughly one-year term. The Notes have a principal amount of $10 per Note, trade date February 26, 2026, settlement March 2, 2026, final valuation February 26, 2027, and maturity March 2, 2027.

The Notes may pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds the coupon barrier; they will be automatically called early if the underlying closes at or above the initial level on any observation date. If not called and the final level is below the downside threshold, repayment at maturity will be reduced proportionately to the underlying return, potentially resulting in a substantial loss or complete loss of principal. An illustrative contingent coupon rate is 17.91% per annum and the example downside threshold is $70.00 (70.00% of the initial level). All payments are subject to UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Snowflake Inc. stock due March 2, 2029. The Notes pay periodic contingent coupons only if the underlying equity closes at or above a coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on any prior observation date.

If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if below, repayment declines proportionally to the underlying return, exposing investors to potential loss of principal. Trade date is February 26, 2026; settlement March 2, 2026. Minimum investment is 100 Notes at $10 per Note; estimated initial value is $9.56.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Baidu, Inc. American depositary receipts. The preliminary pricing supplement sets a trade date of February 26, 2026, expected settlement on March 2, 2026 and maturity on March 2, 2027. Each Note has a principal amount of $10 and a minimum purchase of 100 Notes ($1,000). The Notes pay periodic contingent coupons only if the underlying ADR closes at or above a coupon barrier on observation dates; they autocall early if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, principal is repaid at maturity only if the final level is at or above an 80.00% downside threshold; otherwise investors suffer a loss equal to the underlying return and could lose their entire investment. The issuer’s creditworthiness governs any payment on the Notes. The estimated initial value range is $9.26 to $9.51 per Note as of the trade date using UBS internal models.

UBS AG is offering Airbag Autocallable Yield Notes linked to the common stock of Apple Inc. due March 2, 2027. The Notes pay a quarterly coupon and may be automatically called quarterly beginning after six months if the underlying stock closes at or above its initial level on an observation date.

If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold, UBS will repay the $10 principal per Note plus the coupon; if the final level is below that threshold, repayment is reduced and investors face leveraged downside exposure—approximately 1.1236% loss of principal for each 1% decline of the underlying beyond the threshold, and could lose the entire investment. The Notes are unsecured obligations of UBS and payments depend on UBS’s creditworthiness. The estimated initial value was $9.82.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vertiv Holdings Co, with a trade date of February 26, 2026 and a settlement date of March 2, 2026. The notes mature on March 2, 2029 with a final valuation date of February 28, 2029.

The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates; they are automatically called if the underlying closes at or above the initial level on any monthly observation (beginning ~3 months). If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold (example: $10 principal, downside threshold shown as $60.00 or 60.00% of the initial level). The preliminary example lists a hypothetical contingent coupon rate of 18.54% per annum and an estimated initial value range of $9.36 to $9.61 per Note. Minimum purchase is 100 Notes ($1,000).

All payments, including any contingent coupon or principal, are subject to the creditworthiness of UBS AG. The Notes are not bank deposits, are not FDIC insured, and may result in loss of a significant portion or all of the investment if the final level is below the downside threshold or if UBS defaults.

UBS AG is offering $275,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Vertiv Holdings Co, maturing on March 2, 2029. The Notes pay contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and are automatically called if the underlying equals or exceeds the initial level on any monthly observation date after three months. If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is at or above the downside threshold; otherwise repayment declines in line with the underlying return and could result in the loss of the entire principal. Trade and settlement dates are February 26, 2026 and March 2, 2026. Minimum investment is 100 Notes at $10 per Note; the estimated initial value per Note is $9.71. All payments remain subject to UBS credit risk.

UBS AG is offering Airbag Autocallable Yield Notes linked to the common stock of Apple Inc. due on or about March 2, 2027. The trade date is February 26, 2026 with expected settlement on March 2, 2026.

The Notes pay a quarterly coupon unless automatically called. They are subject to quarterly observation dates beginning after six months; an automatic call occurs if the closing level of the underlying asset is equal to or greater than the initial level. If not called, repayment at maturity depends on the final level versus a downside threshold. The structure applies a downside leverage such that you lose approximately 1.1236% of principal for each 1% decline of the underlying beyond the threshold, and you could lose all of your investment. Minimum investment is 100 Notes at $10 per Note. The estimated initial value is between $9.49 and $9.74.

UBS AG offers $500,000 Airbag Autocallable Yield Notes linked to Alphabet Inc. Class C stock. The Notes pay a coupon on each coupon date unless automatically called; they can be called monthly beginning after 3 months. The offering has a trade date of February 26, 2026, expected settlement on March 2, 2026, a final valuation date of August 31, 2026, and maturity on September 2, 2026.

The Notes repay principal at maturity only if the final level is equal to or above the downside threshold. If the final level is below that threshold, holders face leveraged downside: approximately 1.1111% loss of principal for each 1% decline of the underlying beyond the threshold, and could lose all principal. The estimated initial value per $10 Note is $9.86. Minimum investment is 100 Notes ($1,000).

UBS AG is offering Airbag Autocallable Yield Notes linked to Alphabet Inc. Class C due on or about September 2, 2026. The trade date is February 26, 2026 with expected settlement on March 2, 2026 and a final valuation date of August 31, 2026.

The Notes pay a coupon on each coupon payment date unless previously automatically called on a monthly observation date (beginning after three months) when the underlying closing level is equal to or greater than the initial level. If not called, principal repayment at maturity depends on the final level versus a downside threshold: if below the threshold, investors suffer leveraged downside (approximately 1.1111% loss of principal per 1% decline beyond the threshold) and could lose the entire principal; if at or above the threshold, principal is repaid.

Payments are unsecured obligations of UBS and subject to UBS credit risk. The preliminary estimated initial value range per Note is between $9.54 and $9.79 as of the trade date. Terms will be finalized on the trade date and the Offering Documents must be delivered in final form before any sale.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the shares of the iShares® Silver Trust, maturing March 2, 2028. The notes pay a contingent coupon on observation dates only if the underlying closes at or above a coupon barrier; otherwise no coupon is due.

The notes will be automatically called early if the underlying closes at or above the initial level on any observation date, in which case investors receive principal plus any contingent coupon on the related call settlement date. If not called, principal repayment at maturity is contingent: if the final level is at or above the disclosed downside threshold ($60.00, shown as 60.00% of the initial level in examples), UBS pays principal; if below, repayment equals $10 × (1 + underlying return), potentially producing a percentage loss up to the full principal. Trade date is February 26, 2026, settlement is March 2, 2026, final valuation date is February 29, 2028. The estimated initial value is $9.63 and minimum investment is $1,000 (100 notes). Any payment depends on UBS's creditworthiness; investors may lose a significant portion or all of their investment.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., with a stated offering amount of $431,000. The Notes pay contingent quarterly coupons only if the underlying closing level on an observation date meets or exceeds a coupon barrier; otherwise no coupon is paid. The Notes are subject to automatic early redemption (quarterly observation dates beginning about 6 months after trade) if the underlying closing level is equal to or greater than the initial level, in which case UBS pays principal plus any contingent coupon due on the call settlement date. If not called and the final level on the final valuation date is at or above the downside threshold, UBS repays principal at maturity; if the final level is below that threshold, repayment at maturity is reduced pro rata to the underlying return and investors can lose a substantial portion or all of their investment. Trade date is February 26, 2026, settlement date March 2, 2026, final valuation date February 28, 2029, and maturity date March 2, 2029. The pricing supplement shows a hypothetical contingent coupon rate of 21.99% per annum, an estimated initial value of $9.72 per Note, and illustrative principal examples on a $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the shares of the iShares® Silver Trust, due on or about March 2, 2028. The trade date is February 26, 2026 with expected settlement on March 2, 2026.

The notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates and can be automatically called early if the underlying equals or exceeds the initial level on an observation date. Example terms show a contingent coupon rate of 15.06% per annum (contingent coupon $0.753 per $10 note), a downside threshold of $60.00 (60.00% of the initial level), a minimum investment of 100 notes ($1,000), and an estimated initial value range of $9.33 to $9.58 per $10 note.

At maturity, if not previously called, principal repayment is contingent: if the final level is below the downside threshold, repayment may be less than principal and could result in a substantial or total loss; all payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation due March 2, 2029. The Notes pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and will automatically call early if the underlying reaches or exceeds the initial level on an observation date. If not called, principal is repaid at maturity only if the final level is at or above a downside threshold (example: $60.00, 60.00% of the initial level); otherwise, repayment at maturity is reduced pro rata to the underlying return and could result in complete loss of principal. Example terms show a hypothetical 23.99% per annum contingent coupon (contingent coupon per $10 Note: $0.5998), an estimated initial value of $9.75 per Note, minimum investment of 100 Notes, trade date February 26, 2026, settlement March 2, 2026, final valuation date February 28, 2029, and maturity March 2, 2029. All payments are subject to UBS credit risk.

UBS AG issues Trigger Autocallable Contingent Yield Notes linked to MercadoLibre common stock due March 2, 2027. The Notes pay contingent coupons only if the underlying closing level on observation dates meets or exceeds a coupon barrier, and will be automatically called early if the underlying equals or exceeds the initial level on any observation date prior to the final valuation date. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above the downside threshold; if below, repayment falls by the underlying return, potentially wiping out the investment. Trade date is February 26, 2026, settlement March 2, 2026. Minimum investment is 100 Notes at $10 per Note; estimated initial value per Note is $9.75. Illustrative terms show a contingent coupon rate of 22.42% per annum (contingent coupon $0.5605), a downside threshold and coupon barrier at $80.00 (80.00% of the initial level), and an example worst-case maturity payment of $4.80 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. due March 2, 2029. The Notes pay contingent coupons only when the underlying stock closes at or above a coupon barrier on observation dates and will autocall early if the underlying closes at or above the initial level on any observation date.

If not called, principal is repaid at maturity only if the final level is at or above a downside threshold; if the final level is below that threshold, principal repayment declines in direct proportion to the underlying return and you could lose all of your investment. Trade date is February 26, 2026, settlement March 2, 2026, final valuation date February 28, 2029, and maturity March 2, 2029. The estimated initial value per Note was $9.72.

UBS AG offers a preliminary pricing supplement for $• Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes pay periodic contingent coupons only if the underlying closing level meets coupon barriers and can autocall early if the underlying meets the initial level on observation dates. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise principal is reduced in proportion to the underlying return. Trade date is February 26, 2026; expected settlement is March 2, 2026, final valuation date February 28, 2029, and maturity approximately March 2, 2029.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc., maturing on March 2, 2027. The trade date is February 26, 2026 with expected settlement on March 2, 2026. Each Note has a principal amount of $10 and a minimum investment of 100 Notes ($1,000). The estimated initial value per Note is between $9.43 and $9.68 as of the trade date.

The Notes pay a contingent coupon on each coupon payment date only if the underlying closing level meets or exceeds the coupon barrier; otherwise no coupon is paid. The Notes will autocall early if the underlying closing level on an observation date is equal to or greater than the initial level; on an autocall UBS pays principal plus any contingent coupon due. If not called, at maturity principal is repaid only if the final level is at or above the downside threshold (example: 80% of the initial level). If the final level is below that threshold, investors suffer a loss equal to the underlying decline; an example shows a payout of $4.80 per Note in a severe down scenario. Payments are subject to the creditworthiness of UBS.

UBS AG is offering $20,000,000 in Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the S&P 500® Index due February 28, 2029. The Notes pay a quarterly contingent coupon of 9.60% per annum when both indices meet coupon barriers and are issuer-callable on quarterly observation dates.

The Notes repay $1,000 per Note at maturity only if both final index levels are at or above the 60.00% downside thresholds; otherwise principal is reduced in line with the negative return of the least performing underlying asset and investors can lose a significant portion or all principal. Payments are subject to UBS credit risk and limited secondary-market liquidity.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the common stock of Rocket Lab Corporation due on or about September 16, 2027. The notes pay a contingent coupon of 32.00% per annum when the underlying meets the coupon barrier on observation dates and are issuer-callable monthly beginning after three months.

If UBS does not call the notes and the closing level on the final valuation date is below the downside threshold (equal to 50.00% of the initial level), principal repayment at maturity will be reduced pro rata to the underlying return and investors could lose a significant portion or all of their investment. Secondary-market liquidity and all payments depend on UBS credit.

UBS AG is offering $1,695,000 in Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, maturing March 1, 2029. The Notes pay a contingent coupon of 9.20% per annum when each underlying asset meets its coupon barrier on an observation date, are issuer-callable beginning after six months, and repay principal at maturity only if each underlying asset is at or above its 70.00% downside threshold; otherwise principal is reduced by the negative return of the least performing underlying asset. Trade date is February 24, 2026, settlement February 27, 2026, and the estimated initial value per Note is $942.80 versus an issue price of $1,000 per Note.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to Western Digital Corporation stock, due on or about September 16, 2027. The Notes pay a 32.10% per annum contingent coupon when the underlying closing level meets or exceeds a coupon barrier, are issuer-callable monthly after ~3 months, and repay principal at maturity only if the final level is at or above a 50.00% downside threshold; otherwise principal is reduced pro rata to the underlying return. The issue price is $1,000 per Note and the estimated initial value is between $928.40 and $958.40.

UBS AG offers capped, leveraged, buffered S&P 500® Index-linked medium-term notes with a term expected to be between 13 and 15 months. For each $1,000 face amount, investors receive no interest and a maturity cash payment tied to the S&P 500® performance, featuring a 125.00% upside participation rate, a 10.00% downside buffer (buffer level 90.00%), and a cap that will produce a maximum settlement amount expected to be between $1,117.00 and $1,137.25 per $1,000 face amount. The estimated initial value is expected to be between $957.00 and $987.00 per $1,000 face amount, and you assume UBS credit risk and limited liquidity.

UBS AG is offering $2,772,000 aggregate face amount of Capped Leveraged Buffered S&P 500® Index-Linked Medium-Term Notes due April 28, 2027. The notes reference the S&P 500® Index with an initial underlier level of 6,890.07 set on the trade date of February 24, 2026.

Key economics: an upside participation rate of 150.00%, a cap level of 109.95% (maximum settlement $1,149.25 per $1,000 face), and a buffer at 95.00% (buffer level 6,545.5665, buffer rate ~105.26%). If the final underlier level is below the buffer, holders incur leveraged downside and could lose their entire investment.

Trade date: February 24, 2026; original issue date: February 27, 2026; determination date: April 26, 2027. The notes pay no interest, will not be listed, and are unsecured obligations of UBS; estimated initial value on the trade date was $986.00 per $1,000 face, while issue price is 100.00% with an underwriting discount of 1.17%.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the MSCI EAFE, MSCI Emerging Markets and the STOXX Europe 600. The offering totals $400,000 at an issue price of $1,000 per Note with a principal amount of $1,000 per Note.

The Notes pay a contingent coupon of 9.00% per annum (equal periodic installments of $22.50 per quarter) only if on an observation date each underlying asset closes at or above its coupon barrier. The Notes are callable by UBS on quarterly observation dates beginning after 12 months. If not called, maturity occurs on February 28, 2028 with final valuation on February 23, 2028. Downside thresholds and coupon barriers are set at 75.00% of initial levels; in the event any final level is below its downside threshold, the repayment at maturity will be reduced pro rata and could result in a loss of up to the full principal. The estimated initial value as of the trade date is $975.20. Payments are subject to UBS credit risk and there may be little or no secondary market.

UBS AG is offering $575,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000® Index, the S&P 500® Index and shares of the State Street® Utilities Select Sector SPDR® ETF. The Notes pay a contingent coupon of 11.00% per annum when each underlying asset equals or exceeds a 70.00% coupon barrier on an observation date. UBS may call the Notes in whole (not in part) on monthly observation dates beginning after three months; maturity is March 1, 2029. At maturity, if any underlying asset is below its 70.00% downside threshold, repayment will be reduced pro rata and could result in a substantial loss, including total loss. Issue price is $1,000 per Note; the estimated initial value was $987.80 per Note as of the trade date. All payments remain subject to UBS creditworthiness.

UBS AG offers capped buffer GEARS linked to an equally-weighted basket of 26 equities, issuing $7,036,000 of securities at $10.00 per Security. The Securities mature on February 29, 2028 and pay at maturity based on the basket return subject to an 46.40% maximum gain and an upside gearing of 2.00.

Holders receive full principal at maturity if the final basket level is at or above a downside threshold equal to 90.00% of the initial basket level; if the final basket level is below that threshold, losses apply after a 10.00% buffer and investors could lose almost all principal. Payments depend on UBS creditworthiness.

UBS AG is offering capped, leveraged, buffered basket-linked medium-term notes tied to an unequally-weighted basket of five indices (EURO STOXX 50® 40.00%, TOPIX 25.00%, FTSE® 100 17.00%, SMI 11.00%, S&P/ASX 200 7.00%). The notes pay no interest and have an upside participation rate of 125.00% subject to a cap level expected between 112.59% and 114.78% and a maximum settlement amount expected between $1,157.375 and $1,184.750 per $1,000. A 10.00% buffer protects against declines up to that amount; losses below the buffer expose investors to approximately 1.1111% loss of face amount for each 1% negative basket return below the buffer. Term is expected between 13 and 15 months. Estimated initial value on the trade date is expected between $957.00 and $987.00 per $1,000, while the original issue price is 100.00% of face amount. The notes are unsecured obligations of UBS and carry issuer credit risk, limited liquidity, potential withholding and uncertain U.S. tax treatment.

UBS AG offers $19,955,460 principal of Trigger Autocallable GEARS linked to the iShares® Expanded Tech-Software Sector ETF (IGV), maturing February 28, 2029. The notes pay no interest, carry a call return of 17.50% on an observation date of March 4, 2027, and an upside gearing of 1.40.

If the closing level of IGV on the observation date is at or above the autocall barrier of $80.85 (100.00% of the initial level), UBS will automatically call the Securities and pay the call price of $11.75 per $10 Security. If not called, maturity payment depends on the underlying return, with a downside threshold of $60.64 (75.00% of the initial level); holders may lose a significant portion or all principal and are exposed to UBS credit risk.

UBS AG is offering $525,000 of Capped Buffer Contingent Absolute Return Securities linked to the S&P 500® Index, maturing on March 31, 2027. Each $1,000 Security participates in positive index performance up to a 11.25% maximum upside (maximum payment $1,112.50). The Securities provide a 10.00% buffer (downside threshold equal to 6,251.52, which is 90.00% of the initial level 6,946.13) that preserves contingent absolute repayment only if the final level is at or above the threshold. If the final level is below the threshold, holders suffer losses exceeding the buffer and could lose almost all principal. The estimated initial value per Security on the trade date was $988.50. Payments are unsecured and depend on UBS creditworthiness; hold-to-maturity features and limited secondary market/liquidity are emphasized.

UBS AG offers $4,481,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and EURO STOXX 50, maturing February 28, 2031. The notes pay a quarterly 11.00% per annum contingent coupon only if each index meets its coupon barrier on an observation date; otherwise no coupon is paid.

The issuer may call the notes on any quarterly observation date (other than the final valuation date), in which case holders receive principal plus any contingent coupon due on the call settlement date. If not called, principal is repaid at maturity only if each index’s final level is at or above its downside threshold; otherwise the maturity payment equals $1,000 multiplied by (1 + underlying return of the least performing underlying asset), which can result in substantial loss or a total loss of principal. Payments depend on UBS creditworthiness.

The issuer UBS AG is offering Capped GEARS linked to the Russell 2000® Index with a $10 principal per Security and a term of approximately 14 months. The Securities pay at maturity based on the underlying return from the trade date to the final valuation date, with upside gearing 3.00, a maximum gain 20.50% (maximum payment $12.05 per Security) and full downside exposure to negative underlying returns (possible loss of all principal). Trade date is February 25, 2026, settlement February 27, 2026, final valuation date April 26, 2027, and maturity April 29, 2027. The issue price to public is $10.00 per Security, aggregate $12,167,000, and the estimated initial value is $9.785 per Security. Payments depend on UBS creditworthiness and the Securities will not be listed on an exchange.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of three underlying assets. Each Note has a principal amount of $1,000, a contingent coupon rate of 12.75% per annum (contingent coupon $10.625 per payment), and is callable by UBS beginning after 6 months. The trade date is March 4, 2026, settlement is March 9, 2026, the final valuation date is March 5, 2029 and maturity is March 8, 2029.

The Notes pay contingent coupons only if each underlying asset is at or above its coupon barrier (70.00% of initial level) on an observation date; principal at maturity is preserved only if each underlying asset is at or above its downside threshold (60.00% of initial level). If any underlying asset is below its downside threshold at the final valuation date, payment at maturity will be $1,000 × (1 + underlying return of the least performing underlying asset), potentially resulting in a loss of most or all principal. The estimated initial value range is $952.80 to $982.80. All payments are subject to UBS credit risk.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of three ETFs (iShares Expanded Tech-Software IGV, SPDR Regional Banking KRE, and Financial Select Sector XLF) maturing January 30, 2030. Each Note has a principal amount of $1,000, a contingent coupon rate of 16.60% per annum payable only when each underlying asset is at or above its coupon barrier on an observation date, and monthly observation dates (callable by UBS after three months).

The Notes repay $1,000 at maturity only if each final level is at or above its downside threshold (generally 60% of initial level); otherwise repayment at maturity equals $1,000×(1 + underlying return of the least performing underlying asset), potentially resulting in a substantial or total loss. Estimated initial value range on the trade date is $943.70 to $973.70. Payments are subject to UBS credit risk. Strike date: February 25, 2026; Trade date: March 2, 2026; Settlement date: March 5, 2026.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the EURO STOXX 50® Index. The Notes have a $10 principal amount per Note, an expected trade date of February 26, 2026, settlement on February 27, 2026, a final valuation date of November 26, 2029 and expected maturity of November 28, 2029.

The Notes pay a fixed 11.75% per annum contingent coupon for an observation period only if each underlying asset closes at or above its coupon barrier on every trading day in that period. Coupon barriers are set at 70.00% of initial levels and downside thresholds at 60.00% of initial levels. UBS may call the Notes quarterly; if not called, principal repayment at maturity is contingent: full principal if every final level is at or above downside thresholds, otherwise the payoff equals $10 × (1 + underlying return of the least performing underlying asset), which can result in large principal losses, including loss of all principal.

UBS AG is offering Buffer GEARS securities linked to the least performing of the MSCI EAFE® Index and the EURO STOXX 50® Index, due on or about September 14, 2027. The securities have a principal amount of $1,000 per Security, an upside gearing of 1.2015 and a buffer of 20.00% (downside thresholds equal to 80.00% of initial levels). Key dates include trade date March 9, 2026 and settlement date March 12, 2026. If the least performing underlying return is positive, payment at maturity equals principal plus that return times the upside gearing; if negative and below the downside threshold, principal is reduced by the amount the final level is below the initial level in excess of the buffer (in extreme cases you could lose almost all of your investment). The estimated initial value range is $950.90 to $980.90 and the issue price is $1,000.00 with an underwriting discount of $7.50 ($992.50 proceeds to UBS per Security).

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of three ETFs: iShares Expanded Tech-Software (IGV), State Street SPDR S&P Regional Banking (KRE) and State Street Energy Select Sector (XLE). Each Note has a principal amount of $1,000, a contingent coupon rate of 19.75% per annum and an approximate term to maturity of approximately 47 months with a January 30, 2030 maturity date.

The Notes pay a contingent coupon on each coupon payment date only if the closing level of each underlying asset is at or above its coupon barrier on the related observation date. UBS may call the Notes in whole on monthly observation dates beginning after three months. If not called, repayment at maturity is contingent: if every underlying asset is at or above its downside threshold the principal is returned; if any underlying asset is below its downside threshold the payment equals $1,000 × (1 + underlying return of the least performing underlying asset), which can result in a substantial loss or total loss of principal. All payments are subject to UBS credit risk.

UBS AG is offering Airbag Callable Contingent Yield Notes linked to the least performing of three ETFs (IWM, XLI, XLU). The Notes pay a 13.15% per annum contingent coupon if each underlying is at or above its coupon barrier on an observation date. The term is approximately 9 months (strike February 25, 2026; trade February 26, 2026; settlement March 3, 2026; final valuation November 25, 2026; maturity December 1, 2026).

The Notes are issuer-callable on monthly observation dates (UBS may call regardless of performance). Principal is contingent at maturity: if every underlying is at or above its downside threshold (85.00% of initial levels; 15.00% threshold), you receive $1,000 per Note; otherwise repayment is reduced with a downside leverage of approximately 1.1765, exposing holders to leveraged losses and potential full loss. All payments are subject to UBS credit risk. The issue price per Note is $1,000 and the estimated initial value range is $959.90 to $989.90.

UBS AG offers a preliminary pricing supplement for Contingent Income Callable Securities linked to the S&P 500® Index due on or about March 9, 2028. Each security has a stated principal amount of $1,000.00 and a contingent payment of $22.375 (equivalent to 8.95% per annum) payable on each determination date if the index closing level is at or above 80.00% of the initial index level. The expected pricing date is March 6, 2026 and the issue price is $1,000.00 per security; the estimated initial value range is $953 to $983. The securities are unsecured obligations of UBS AG, subject to UBS credit risk, are callable by UBS on specified determination dates, do not participate in upside beyond the contingent payments, and may pay less than principal at maturity if the final index level is below the 80.00% downside threshold level.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of three ETFs: IGV (iShares Expanded Tech-Software), KRE (SPDR Regional Banking) and XLY (Consumer Discretionary Select Sector). Each Note has a principal amount of $1,000 and a contingent coupon rate of 17.80% per annum payable only when the closing level of each underlying asset is at or above its coupon barrier on an observation date.

The Notes are callable by UBS beginning after three months, with a Final Valuation Date of January 25, 2030 and a Maturity Date of January 30, 2030. Coupon barriers are set at 70% of initial levels and downside thresholds at 60%. If not called and any final level is below its downside threshold, the maturity payment exposes holders to the negative return of the least performing underlying asset and could result in loss of some or all principal. Payments are subject to UBS creditworthiness.

UBS AG offers Trigger Autocallable Notes with Contingent Accreting Return linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, with expected term of approximately three years. The notes pay no current income and may be automatically called monthly beginning after 12 months if each underlying asset meets its call threshold. If not called, repayment at maturity depends on the least performing underlying asset relative to a 60% downside threshold; in the worst case you could lose all principal. The contingent accreting return rate cited is 9.75% per annum for the Nasdaq-100® Technology Sector reference line and the estimated initial value range is $957.60–$987.60 per $1,000 note.

UBS AG is offering Trigger Autocallable Yield Notes linked to the common stock of Zscaler, Inc. Each Note has a $1,000 principal amount, a fixed coupon rate of 11.50% per annum, an expected trade date of March 13, 2026, an expected settlement date of March 18, 2026, a final valuation date of March 13, 2029 and a maturity date of March 16, 2029.

The Notes pay quarterly coupons unless automatically called. They are automatically callable on quarterly observation dates beginning after 12 months if the closing level of Zscaler's stock is at or above the call threshold (set at 100.00% of the initial level). If not called, principal is contingent at maturity: full principal is returned if the final level is at or above the downside threshold (set at 50.00% of the initial level); if below, repayment falls in proportion to the underlying return and could result in a substantial or complete loss of principal. The estimated initial value range on the trade date is $932.90 to $962.90, and the underwriting discount is $28.50 per Note.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Amazon.com, Inc. Each Note has a principal amount of $1,000, a contingent coupon rate of at least 10.00% per annum and a term of approximately two years, with the trade date of February 27, 2026 and expected settlement on March 4, 2026.

The Notes pay contingent quarterly coupons only if the underlying closing level meets the coupon barrier; they are automatically called if the underlying meets the call threshold on an observation date. At maturity, principal is repaid in cash only if the final level is at or above the downside threshold; otherwise holders receive a share delivery amount (principal divided by the initial level), which can result in substantial or total loss of principal. All payments are subject to UBS credit risk and the final economic terms will be set on the trade date.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of three ETFs: the iShares Expanded Tech-Software ETF (IGV), the SPDR S&P Regional Banking ETF (KRE) and the Communication Services Select Sector SPDR ETF (XLC).

The Notes pay a contingent coupon of 17.25% per annum when, on an observation date, the closing level of each underlying asset is at or above its coupon barrier. The Notes are issuer-callable beginning after three months, have a strike date of February 25, 2026, a final valuation date of January 25, 2030, and a maturity date of January 30, 2030. The issue price is $1,000.00 per Note; UBS states estimated initial values between $943.70 and $973.70. If not called, repayment at maturity is contingent: investors receive principal only if each underlying is at or above its downside threshold; otherwise repayment declines with the percentage loss of the least performing underlying asset.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to CrowdStrike Holdings, Inc. (CRWD) due on or about March 2, 2028. Each Note has a principal amount of $1,000, a minimum contingent coupon rate of 15.05% per annum (fixed periodic installments), and quarterly observation dates beginning May 27, 2026.

The Notes are automatically called if the closing level of the underlying stock on an observation date is at or above the call threshold (set at 100% of the initial level on the cover). If not called and the final level is below the downside threshold (50% of the initial level), repayment is in shares equal to $1,000 divided by the initial level, potentially resulting in a significant loss. The estimated initial value range is $949.10 to $979.10 as of the trade date.