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

UBS AG is offering Capped Buffer Securities linked to the S&P 500® Index maturing on September 16, 2027. Each Security has a $1,000 principal amount, a 10.00% downside buffer and a 20.00% maximum gain, capping the maximum payment at $1,200.00 per Security.

The trade date is expected to be March 13, 2026 with settlement on March 18, 2026, a final valuation date of September 13, 2027, and an estimated initial value range of $959.30 to $989.30 as of the trade date. Payments at maturity depend on the underlying return, UBS creditworthiness and whether the final level is below the downside threshold.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes pay a contingent coupon only if the underlying stock closing level meets or exceeds a coupon barrier on observation dates and can be automatically called early if the underlying meets the initial level on any observation date prior to maturity.

The Notes have a Final Valuation Date: February 24, 2028 and Maturity Date: February 28, 2028, a principal amount per Note of $10, an estimated initial value of $9.72, and example terms showing a 20.71% per annum contingent coupon and a $60.00 downside threshold (60.00% of the initial level). If not called and the final level is below the downside threshold, repayment can be less than principal, with losses equal to the underlying return; payments are subject to UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Amazon.com, Inc. common stock due February 28, 2028. The Notes pay periodic contingent coupons only if the underlying's closing level on observation dates meets the coupon barrier and may be automatically called quarterly beginning after six months.

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 can lose a substantial portion or all of their principal. All payments are subject to UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The preliminary pricing supplement sets the trade date as February 24, 2026, expected settlement date February 26, 2026, a final valuation date of February 24, 2028 and a maturity date of February 28, 2028.

The Notes pay a contingent coupon on each coupon payment date only if the underlying stock closing level on the related observation date is at or above the coupon barrier; otherwise no coupon is paid. UBS will automatically call the Notes early if an observation-date closing level is at or above the initial level. At maturity, if the Notes are not called and the final level is below the downside threshold, holders suffer a loss equal to the percentage decline in the underlying; examples show a 19.95% per annum contingent coupon in a hypothetical case and a downside threshold of $60.00 (60% of the initial level).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., due on or about February 28, 2028. The Notes pay a periodic contingent coupon only if the underlying closing level on specified observation dates meets or exceeds a coupon barrier; otherwise no coupon is paid.

The Notes can be automatically called quarterly (beginning after six months) if the underlying closes at or above the initial level; an automatic call results in payment of principal plus any contingent coupon due on the related coupon payment date. If not called, repayment at maturity depends on the final level versus a downside threshold (an illustrative downside threshold and coupon barrier of $70.00, or 70.00%, and a hypothetical contingent coupon rate of 11.07% per annum are shown). Any repayment is subject to UBS credit risk and investors may lose a significant portion or all of their investment.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., due February 26, 2027. The Notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier and will be automatically called early if the underlying closes at or above the initial level on an observation date. At maturity, if not called, principal is repaid only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment is reduced proportionally to the underlying return and investors could lose a significant portion or all of their principal. Trade date is February 24, 2026, settlement February 26, 2026, principal amount per Note is $10, estimated initial value is $9.81, and minimum investment is 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes mature on February 26, 2027 with a trade date of February 24, 2026 and settlement on February 26, 2026. Investors receive periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates; the Notes auto-call early if the underlying equals or exceeds the initial level on any observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold, exposing holders to potential loss of principal tied to the underlying return. Minimum investment is 100 Notes at $10 per Note; estimated initial value is between $9.49 and $9.74 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport‑McMoRan Inc., maturing on August 26, 2027. The Notes pay a periodic contingent coupon only if the underlying closing level on an observation date meets or exceeds a coupon barrier and will be automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date.

The Notes repay principal at maturity only if the final level is at or above a downside threshold; otherwise principal is reduced pro rata to the underlying return, and investors may lose a significant portion or all of their investment. Example terms include a hypothetical 13.65% contingent coupon rate, a downside threshold and coupon barrier equal to $60.00 (60.00% of the initial level), an estimated initial value of $9.71 per $10 Note, trade date February 24, 2026, and maturity mechanics tied to observation dates and market‑disruption postponement rules.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Freeport-McMoRan Inc. The preliminary pricing supplement dated February 24, 2026 sets a trade date of February 24, 2026, settlement on February 26, 2026, a final valuation date of August 24, 2027, and maturity on August 26, 2027. The Notes have a principal amount of $10 per Note, a minimum investment of 100 Notes, and an estimated initial value range of $9.41 to $9.66 per Note as of the trade date.

The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates, feature an automatic call if the underlying closes at or above the initial level on an observation date, and provide contingent principal protection at maturity only if the final level is at or above a downside threshold (example: 60.00% of the initial level). If the final level is below the downside threshold, principal is reduced proportionally to the underlying return and investors could lose a substantial portion or all of their investment. All payments depend on UBS's creditworthiness.

UBS AG offers $337,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., due February 28, 2028. The Notes pay contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and will be automatically called if the underlying closes at or above the initial level on any observation date prior to the final valuation date.

If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold you receive the principal; if below, your cash payment equals $10 multiplied by (1 + the underlying return), exposing you to a percentage loss that can be total. Trade and settlement occur on February 24, 2026 and February 26, 2026, with final valuation on February 24, 2028. The estimated initial value on the trade date is $9.81 per Note and minimum purchase is 100 Notes (a $1,000 investment).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Blackstone Inc. The Notes pay a contingent coupon only if the underlying closing level meets the coupon barrier on observation dates and will auto-call early if the underlying equals or exceeds the initial level on any prior observation date. The offering term runs from trade date February 24, 2026 with expected settlement February 26, 2026 and maturity February 26, 2027. The estimated initial value is $9.84 per $10 Note and minimum purchase is 100 Notes ($1,000). Examples show a contingent coupon rate of 16.15% per annum (contingent coupon $0.4038 per $10 Note) and a downside threshold at $60.00 (60% of the initial level), where a final level below that would deliver a reduced cash payment at maturity, potentially resulting in substantial or total loss of principal. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. common stock. The preliminary pricing supplement dated February 24, 2026 describes approximately two‑year Notes due on or about February 28, 2028 with contingent periodic coupons, an automatic call if the underlying reaches or exceeds the initial level on an observation date, and contingent principal repayment at maturity that depends on the final level versus a disclosed downside threshold.

The Notes pay contingent coupons only when the closing level of the underlying is at or above the coupon barrier on observation dates. If not called, principal at maturity is repaid in cash only if the final level is at or above the downside threshold; otherwise investors suffer a loss tied to the underlying return. Coupon examples and hypothetical payouts (including a contingent coupon rate of 15.22% per annum and illustrative outcomes) are shown in the supplement. Any payments are subject to the creditworthiness of UBS AG.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Blackstone Inc. The Notes have a trade date of February 24, 2026, expected settlement on February 26, 2026, and a maturity on or about February 26, 2027. 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 stock 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 observation date prior to maturity. At maturity, if not called and the final level is below the downside threshold, repayment is reduced pro rata: cash paid per Note would equal $10 x (1 + Underlying Return), potentially resulting in complete loss of principal. UBS states the estimated initial value per Note is between $9.50 and $9.75 as of the trade date. All payments are subject to the creditworthiness of UBS.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Eli Lilly common stock due August 26, 2027. The Notes pay contingent coupons only if the underlying closing level on observation dates meets a coupon barrier and will autocall early 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; if the final level is below that threshold, principal repayment falls by the percentage decline of the underlying and you could lose a significant portion or all of your investment. Payments are subject to UBS credit risk. Trade date and settlement are February 24, 2026 and February 26, 2026, respectively.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. due February 28, 2028. The Notes have a principal amount of $10 per Note and a minimum purchase of 100 Notes. Contingent coupons are payable only when the underlying closing level on an observation date equals or exceeds the coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early if the underlying closing level on any observation date prior to the final valuation date is equal to or greater than the initial level; in that event UBS will pay principal plus any contingent coupon on the related call settlement date. If not called, repayment of principal at maturity depends on the final level relative to the downside threshold: if the final level is at or above the downside threshold, UBS will repay principal; if below, repayment will be reduced proportionally to the underlying return, and you could lose a significant portion or all of your investment. The pricing supplement shows an example contingent coupon rate of 26.57% per annum (contingent coupon $0.6643 per $10 Note), a coupon barrier and downside threshold of $50.00 (50.00% of the initial level), and an estimated initial value of $9.79 per Note as of the trade date. All payments, including any repayment of principal, are subject to UBS’s creditworthiness and the Notes will not be listed on an exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Eli Lilly common stock due on or about August 26, 2027. Each Note has a principal amount of $10 and is offered in minimum blocks of 100 Notes ($1,000). The Notes pay a contingent coupon on coupon payment dates only if the underlying stock's closing level on an observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early if the underlying's closing level on any observation date prior to the final valuation date is at or above the initial level, in which case UBS will pay principal plus any contingent coupon due on the related call settlement date. If not called and the final level is below the downside threshold, principal repayment at maturity is reduced proportionally to the underlying return; in extreme cases you could lose your entire investment. The trade date is February 24, 2026, settlement is February 26, 2026, final valuation date is August 24, 2027 and maturity is August 26, 2027. The estimated initial value range is $9.43 to $9.68 per Note and an example contingent coupon rate shown is 10.17% per annum (contingent coupon $0.2543 per $10 Note).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc., maturing on February 28, 2028. The notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates; otherwise no coupon is paid.

The notes are subject to an automatic call if the underlying closes at or above the initial level on any observation date prior to the final valuation date, in which case UBS will pay 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 below the disclosed downside threshold (60.00% of the initial level in the examples), principal may be reduced pro rata to the underlying return, potentially causing substantial loss up to the full investment. Example terms show a 17.03% per annum contingent coupon and an estimated initial value of $9.69 per $10 note; minimum investment is 100 notes ($1,000). All payments depend on UBS creditworthiness.

UBS AG is offering preliminary Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes are due on or about February 28, 2028 with a trade date of February 24, 2026 and a settlement date of February 26, 2026.

The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on each observation date and will be automatically called early if the underlying closes at or above the initial level on any observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold; in adverse outcomes an investor could lose a significant portion or all of principal. The offering is preliminary and subject to final pricing and terms on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc. via a Preliminary Pricing Supplement dated February 24, 2026. The notes mature on February 28, 2028 with trade date February 24, 2026 and expected settlement February 26, 2026.

The notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates. They have an automatic call if the underlying closes at or above the initial level on any pre-final observation date. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at/above the downside threshold; otherwise principal is reduced pro rata by the underlying return. The preliminary supplement shows an estimated initial value range of $9.39 to $9.64 per $10 note and a minimum investment of 100 notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation due February 26, 2027. The Notes pay a contingent coupon only when the underlying closing level meets or exceeds a coupon barrier on observation dates and can be automatically called early if the underlying closes at or above the initial level on any prior observation date. If not called, principal repayment at maturity is contingent: if the final level is below the downside threshold, the cash payment may be less than principal and reflect the percentage decline in the underlying, potentially resulting in a loss of all principal. The offering references a minimum investment of 100 Notes at $10 per Note and an estimated initial value of $9.79 per Note. Payments are subject to the creditworthiness of UBS and market‑disruption postponement provisions.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to NVIDIA common stock, due about February 26, 2027. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and are automatically called early if the underlying closes at or above the initial level on any prior observation date. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above a disclosed downside threshold; otherwise repayment is reduced pro rata to the underlying return, potentially resulting in significant or total loss.

Trade date is February 24, 2026 with settlement on February 26, 2026. Minimum investment is 100 Notes (equal to $1,000). The preliminary estimated initial value per Note is between $9.47 and $9.72, determined by UBS’ internal pricing models. Payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation maturing on February 26, 2029. The Notes pay a periodic contingent coupon only if the underlying 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 repayment at maturity is contingent: full principal is paid if the final level is at or above the downside threshold; otherwise repayment equals $10 x (1 + underlying return), exposing holders to the underlying’s downside, potentially a complete loss. Payments depend on UBS creditworthiness. Example terms shown: principal $10, contingent coupon rate 14.72% per annum, contingent coupon per period $0.368, coupon barrier and downside threshold $60.00. Trade date February 24, 2026, settlement February 26, 2026, final valuation date February 22, 2029.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about February 26, 2029. The notes pay a contingent coupon only if the underlying closing level meets a coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on an observation date prior to maturity.

Trade date is February 24, 2026 with settlement on February 26, 2026. Minimum investment is 100 Notes ($1,000). The preliminary estimated initial value per $10 Note is between $9.36 and $9.61. An illustrative contingent coupon rate is 12.79% per annum; a downside threshold example is $60.00 (60% of the initial level), where a final-level shortfall could reduce a $10 principal to $3.60 in the example.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Applied Materials, Inc. stock maturing on February 28, 2028. The Notes pay contingent coupons only if the underlying closing level meets a coupon barrier and may be automatically called early if the underlying closes at or above 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 of $65.00; otherwise repayment is reduced pro rata to the underlying return and investors could lose a significant portion or all of their investment. The Notes have a principal amount per Note of $10, an estimated initial value of $9.79, and a hypothetical contingent coupon rate of 18.11% per annum ($0.1509 per $10 Note per coupon event).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Applied Materials, Inc. The Notes mature on February 28, 2028 with a final valuation date of February 24, 2028 and an expected trade date of February 24, 2026.

Each Note has a principal amount of $10, a minimum order of 100 Notes ($1,000), and an estimated initial value range of $9.46 to $9.71. Example terms show a contingent coupon rate of 15.60% per annum, a coupon barrier and downside threshold at 65.00% of the initial level, and possible full loss of principal if the final level is below the downside threshold.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of Equinix, NVIDIA and Oracle due on or about March 13, 2031. The Notes pay a periodic contingent coupon of 22.00% per annum if all underlyings meet coupon barriers on observation dates, are callable beginning after six months, and repay principal at maturity only if each underlying meets its downside threshold. The Notes reference a $1,000 principal amount per Note, have a trade date of March 10, 2026 and settlement on March 13, 2026. Estimated initial value is between $946.80 and $976.80, the issue price is $1,000.00, and UBS Securities LLC receives an underwriting discount of $7.50 per Note.

UBS AG offers $4,553,000 of Trigger Autocallable Contingent Yield Notes linked to NVIDIA common stock due February 23, 2029. The Notes pay a 14.10% per annum contingent coupon if observation-date closing levels meet the coupon barrier, and feature quarterly observation dates with automatic early call after six months.

If not called, principal is repaid at maturity only if the final level is at or above the downside threshold of $113.89 (which is 60.00% of the initial level); otherwise repayment is reduced pro rata to the underlying return. The Notes are unsecured obligations of UBS and all payments depend on UBS creditworthiness. Issue price is $1,000 per Note and the estimated initial value was $976.40 as of the trade date.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, the Russell 2000 Index and the EURO STOXX 50 Index due on or about March 13, 2031. The Notes have a $1,000 principal amount per Note, quarterly observation dates beginning June 10, 2026, and an issuer call right on any observation date other than the final valuation date.

The Notes pay a fixed 11.90% per annum contingent coupon when the closing level of each underlying asset is at or above its coupon barrier on an observation date; otherwise no coupon is paid. At maturity, if any underlying asset is below its downside threshold the holder suffers a loss equal to the negative return of the least performing underlying asset; all payments are subject to UBS creditworthiness.

UBS AG is offering $4,585,000 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. The Notes pay a contingent coupon of 12.25% per annum if, on each observation date, every underlying asset is at or above its coupon barrier.

The Notes have a principal amount of $1,000 per Note, trade date February 20, 2026, settlement February 25, 2026, final valuation date January 20, 2028 and maturity January 25, 2028. If UBS calls early, holders receive principal plus any contingent coupon due on the call settlement date. If not called and any underlying asset finishes below its 70.00% downside threshold, maturity payment will be reduced proportionally to the negative return of the least performing underlying asset; losses up to 100% of principal are possible. The estimated initial value was $969.70 and the issue price per Note is $1,000.

UBS AG is offering Trigger Autocallable Contingent Yield Notes due on or about March 4, 2031. The Notes pay a 7.15% per annum contingent coupon if each underlying (the S&P 500®, Nasdaq-100® and Russell 2000®) is at or above its coupon barrier on an observation date, are callable monthly after 12 months if all underlyings meet a call threshold, and repay principal at maturity only if each underlying is at or above a 70.00% downside threshold; otherwise repayment at maturity can reflect the negative return of the least performing underlying, potentially causing substantial or total loss of principal.

The preliminary terms show an issue price of $1,000.00 per Note, an estimated initial value range of $923.90 to $953.90, an underwriting discount of up to $41.25 per Note and minimum proceeds to UBS of $958.75 per Note. The final economic terms will be set on the strike date and disclosed in the final pricing supplement.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 and the Nasdaq-100 Technology Sector, maturing on or about March 11, 2031. The Notes pay a contingent coupon of 11.75% per annum only when each underlying meets its coupon barrier on an observation date and are issuer-callable monthly beginning after six months.

The issue price is $1,000.00 per Note, with underwriting discount $7.50 and proceeds to UBS of $992.50 per Note. The estimated initial value range is $952.80 to $982.80. Principal repayment at maturity is contingent on the final levels versus downside thresholds, and investors may lose a significant portion or all of their investment. All payments are subject to UBS credit risk.

UBS AG is offering $12,301,000 of Contingent Income Auto-Callable Securities due February 23, 2029 linked to the common stock of Wells Fargo & Company. Each security has a stated principal amount of $1,000.00 and an initial price of $88.70, with a downside threshold of $66.53 (75.00% of the initial price) and a call threshold of $88.70 (100.00% of the initial price).

The securities pay a contingent payment of $27.50 per period (equivalent to 11.00% per annum) only if the closing price on a determination date is at or above the downside threshold. If a determination date meets or exceeds the call threshold (other than the final determination date), the securities are automatically redeemed early for the stated principal plus the contingent payment. If not redeemed and the final price is below the downside threshold, UBS will deliver a cash value based on the exchange ratio, exposing holders to a loss of a significant portion or all of their investment; payments are subject to UBS credit risk.

UBS AG London Branch is offering $7,365,000 aggregate face amount of Digital S&P 500® Index-Linked Medium-Term Notes due January 12, 2028. The notes do not bear interest and pay a cash settlement at maturity tied to the S&P 500® Index performance from the trade date February 20, 2026

If the final underlier level on the determination date is at or above the buffer level of 87.50% (initial underlier level 6,909.51; buffer level 6,045.82125), holders receive the maximum settlement amount of $1,163.20 per $1,000 face amount. If the final underlier level is below the buffer, losses accrue at approximately 1.1429% of face amount for each 1.00% decline below the buffer; investors could lose their entire investment. The estimated initial value on the trade date was $998.00 per $1,000 face amount and the issue price is 100.00%.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the MSCI EAFE®, MSCI Emerging Markets and STOXX Europe 600 Indices. The Notes have a principal amount of $1,000 per Note and a term of approximately two years with a contingent coupon rate of 9.00% per annum. The initial levels were set on the Strike Date: February 23, 2026 and the Notes are callable by UBS in whole beginning after 12 months on scheduled quarterly observation dates. If UBS does not call the Notes, repayment at maturity is contingent: holders receive principal only if each underlying index’s final level is at or above its downside threshold (each set at 75.00% of its initial level); otherwise the payment equals $1,000×(1 + underlying return of the least performing underlying asset), which can result in a substantial loss, including loss of all principal. The issue price is $1,000 per Note, the estimated initial value range is $945.20 to $975.20, the underwriting discount is $4.00 per Note, and proceeds to UBS are $996.00 per Note. Any payment on the Notes depends on UBS’s creditworthiness.

UBS AG is offering $846,000 of Trigger In‑Digital Securities linked to the iShares® Expanded Tech‑Software Sector ETF with a maturity date of March 29, 2027. The securities have a principal amount of $1,000 per Security and a digital return of 10.45%. If the ETF’s closing level on the final valuation date is equal to or above the digital barrier of $53.86 (70.00% of the initial level), holders receive principal plus the digital return; if below that barrier, holders suffer losses of principal equal to the underlying return, potentially up to a 100% loss.

The trade date is February 23, 2026, settlement is expected February 26, 2026, the final valuation date is March 23, 2027 and the securities are subject to UBS credit risk and limited secondary‑market liquidity. The issue price to the public is $1,000 per Security and total proceeds to UBS AG (net of underwriting compensation) are shown as $830,137.50 on the cover.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector and the Russell 2000® Index. The Notes have a stated principal amount of $1,000 per Note and a term of approximately three years, with a trade date of February 27, 2026, expected settlement on March 4, 2026, a final valuation date of February 27, 2029 and a maturity date of March 2, 2029.

The Notes pay a periodic contingent coupon only if the closing level of each underlying asset is at or above its coupon barrier on an observation date; otherwise no coupon is paid. UBS may call the Notes in whole (beginning after three months). If not called, repayment at maturity is contingent: if any underlying asset closes below its downside threshold (generally 70.00% of its initial level), the payment may be less than principal and could result in loss of a significant portion or all of the investment. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Notes linked to the least performing of the Nasdaq-100 Index and the S&P 500 Index, with final terms set on the trade date.

The Notes have a principal amount of $1,000 per Note, a term of approximately 3 years, a 9.05% per annum call return rate, quarterly observation dates, a final valuation date of February 27, 2029 and a maturity date of March 2, 2029. The Notes will be automatically called if on any observation date the closing level of each underlying asset equals or exceeds its call threshold (100% of initial level). If not called, repayment at maturity is contingent: if each final level is at or above its downside threshold (70% of initial level) you receive the principal; if the final level of any underlying asset is below its downside threshold you receive an amount reduced in proportion to the decline of the least performing underlying asset, potentially resulting in the loss of a significant portion or all of your investment. All payments are subject to UBS credit risk and the Notes are not FDIC insured.

UBS AG is offering Trigger Autocallable Notes linked to the S&P 500® Index due on or about March 6, 2031. The Notes have a principal amount of $1,000 per Note, a stated call return rate of 9.20% per annum and observation dates semiannually beginning after 12 months. The Notes will be automatically called if the closing level of the S&P 500® Index on any observation date is at or above a call threshold equal to 100% of the initial level; the downside threshold is 70% of the initial level. Payments at maturity depend on the final level: full principal is returned if the final level is at or above the downside threshold, otherwise holders suffer a loss equal to the index decline (potentially a total loss). Trade date is March 3, 2026 with expected settlement March 6, 2026. All payments are subject to UBS credit risk and the estimated initial value is shown as a range in the supplement.

UBS AG is offering 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 (XLU). Trade date is February 27, 2026 with expected settlement on March 4, 2026 and maturity on March 4, 2031.

The notes pay a contingent coupon of 10.20% per annum when each underlying asset is at or above its coupon barrier on an observation date; UBS may call the notes in whole on monthly observation dates beginning after six months. Principal is contingently repayable: if the final level of any underlying asset is below its downside threshold, repayment at maturity will be reduced pro rata to the negative return of the least performing underlying asset. The estimated initial value range is $953.70 to $983.70 per $1,000 note; issue price is $1,000.00 with proceeds to UBS of $997.50 per note.

UBS AG is offering Capped Performance Leveraged Upside Securities ("Capped PLUS") linked to the Russell 2000® Index with a stated principal amount of $1,000.00 per Capped PLUS. The expected pricing date is February 27, 2026, original issue date March 4, 2026, valuation date April 27, 2027 and expected maturity April 30, 2027.

The product provides 3.0x leverage on positive underlying returns up to a 20.46% maximum gain, producing a maximum payment at maturity of $1,204.60 per Capped PLUS. There is no periodic interest and investors bear full downside risk of the index and UBS credit risk; holders may lose some or all principal.

UBS AG offers 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 have a $1,000 principal amount per note, a contingent coupon of 9.60% per annum (contingent coupon $24.00), and downside thresholds set at 60.00% of each initial level. The estimated initial value range is $965.00 to $995.00 and the issue price is $1,000.00 per note; proceeds to UBS are $997.50 per note. The notes are issuer-callable on quarterly observation dates, pay contingent coupons only if both underlyings meet coupon barriers on an observation date, and at maturity principal repayment is contingent on the least performing underlying relative to its downside threshold. All payments are subject to UBS credit risk.

UBS AG is offering Capped Market-Linked Notes due March 4, 2027 linked to the least performing of the Russell 2000® Index and the S&P 500® Index. The Notes pay at maturity either the principal or principal plus a capped upside: $1,074.00 maximum payment per $1,000 Note (7.40% maximum gain).

Terms set on the strike date (February 23, 2026); final payoff depends on the least performing underlying return on the final valuation date (March 1, 2027). Payments and any principal repayment are subject to UBS credit risk and the Notes are not exchange-listed.

UBS is offering Phoenix Autocallable Buffer Notes with Memory Interest linked to the common stock of The Boeing Company. The Notes have a $1,000 principal amount per Note, trade date February 27, 2026, expected settlement March 4, 2026, and scheduled maturity March 17, 2027. The terms include quarterly interest observation and autocall dates, an interest barrier equal to 85.00% of the initial price, a downside threshold equal to 85.00% of the initial price, and a minimum contingent interest payment of $40.40 per Note when conditions are met. If not called and the final price is below the downside threshold, payment at maturity is a cash equivalent based on a share delivery amount and may be worth less than principal. Estimated initial value range is $956.40 to $986.40. Payments depend on UBS creditworthiness; holders may lose some or all of their investment.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Micron Technology common stock, due February 25, 2027.

The Notes pay a contingent coupon on coupon dates only if the underlying closing level meets or exceeds a coupon barrier; they are automatically callable on quarterly observation dates (beginning after 6 months) if the underlying equals or exceeds the initial level. If not called and the final level is below the downside threshold, principal repayment at maturity is contingent and may reflect the percentage decline in the underlying, potentially causing substantial or total loss.

Key disclosed terms: principal $10 per Note, example contingent coupon rate 28.00% per annum (contingent coupon $0.70), example downside threshold and coupon barrier shown at $57.00 (57.00% of initial level), estimated initial value $9.72, minimum investment 100 Notes ($1,000). All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Salesforce, Inc. The document describes a structured note with a stated header amount of $300,000, a Trade Date of February 23, 2026, Settlement Date February 25, 2026, Final Valuation Date February 23, 2027 and Maturity Date February 25, 2027. The Notes pay a contingent coupon only when the underlying closing level meets or exceeds a coupon barrier on an observation date; otherwise no coupon is paid. The Notes are subject to an automatic call if the underlying closing level on any observation date prior to maturity is equal to or greater than the initial level, in which case holders receive principal plus any contingent coupon then due. If not called, repayment of principal at maturity is contingent on the final level being at or above a downside threshold of 75.00% of the initial level; if below that threshold, investors suffer principal loss equal to the underlying return. Minimum investment is 100 Notes at $10 per Note; the estimated initial value was $9.80. Any payments depend on UBS's creditworthiness.

UBS AG published a preliminary pricing supplement for $• Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., due on or about February 25, 2027. The trade date is February 23, 2026 with settlement on February 25, 2026.

The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates (quarterly, beginning after six months). The Notes have an automatic call if the underlying closes at or above the initial level on any observation date prior to maturity. If not called, principal repayment at maturity is contingent: full principal if the final level is at/above the downside threshold; otherwise repayment declines in proportion to the underlying return, potentially to zero. Estimated initial value at trade date is between $9.42 and $9.67 per $10 Note. Minimum investment: 100 Notes ($1,000). Payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Salesforce, Inc., due on or about February 25, 2027. The trade date is February 23, 2026 with expected settlement on February 25, 2026. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and will be automatically called if the underlying closes at or above the initial level on any prior observation date. If not called, repayment at maturity depends on the final level versus a downside threshold; principal can be lost if the final level is below that threshold. Minimum investment is 100 Notes at $10 per Note. The preliminary estimated initial value range is $9.48 to $9.73. Example contingent coupon shown is 22.36% per annum (yielding $0.559 per $10 Note in a sample period). All payments are subject to the creditworthiness of UBS AG.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the shares of the Invesco QQQ, Series 1, maturing on February 25, 2027. The notes pay a contingent coupon only if the underlying closes at or above the coupon barrier on an observation date; otherwise no coupon is paid. UBS will automatically call the notes early if the underlying closes at or above the initial level on any observation date prior to the final valuation date; called notes pay principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent: if the final level is below the downside threshold (example: $80.00, or 80% of initial level), redemption may be less than principal and could result in a loss up to 100% of principal. Terms shown: trade date February 23, 2026, settlement February 25, 2026, final valuation date February 23, 2027, maturity February 25, 2027. Notes are sold in minimum increments of 100 notes at $10 per note; the estimated initial value is $9.83. Any payment depends on UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Invesco QQQ ETF. The notes have a $10 principal amount per note, expected trade date February 23, 2026, expected settlement February 25, 2026, final valuation date February 23, 2027, and maturity February 25, 2027.

The notes pay periodic contingent coupons only if the closing level of the underlying asset on an observation date is at or above the coupon barrier. They are subject to an automatic call if the underlying equals or exceeds the initial level on any observation date, in which case holders receive principal plus any contingent coupon on the related call settlement date. 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 (example: $80.00, or 80.00% of the initial level); otherwise repayment declines pro rata with the underlying, potentially resulting in the loss of most or all principal.

Minimum investment is 100 Notes ($1,000). UBS estimates the initial value range at $9.59 to $9.84 per note. Any payments depend on UBS's creditworthiness.