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

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation common stock due February 24, 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 automatically called (quarterly observation dates beginning about six months after trade) if the underlying closes at or above the initial level, in which case holders receive principal plus any contingent coupon then due. If not called, repayment at maturity depends on the final level: the principal is returned only if the final level is at or above the downside threshold; if below, holders suffer a loss equal to the underlying return and could lose all principal. All payments are subject to the creditworthiness of UBS. Minimum investment is 100 Notes at $10 per Note; the estimated initial value on the trade date is $9.77.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation. The preliminary pricing supplement sets the trade date as February 20, 2026, settlement on February 24, 2026, final valuation date February 22, 2028, and maturity on February 24, 2028.

The Notes have a principal amount of $10 per Note and a minimum investment of 100 Notes ($1,000). UBS will pay contingent coupons only if the underlying closes at or above a coupon barrier on observation dates; the Notes autocall 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; otherwise repayment can be less than principal, exposing investors to the underlying's decline. The preliminary estimated initial value is between $9.43 and $9.68. Example illustrative terms show a hypothetical contingent coupon rate of 17.76% per annum and an example downside outcome where a Note could pay $3.00 at maturity.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation due on or about February 24, 2028. The preliminary pricing supplement dated February 20, 2026 describes contingent quarterly coupons, an automatic quarterly autocall feature beginning after six months, and a contingent repayment of principal at maturity that protects principal only if the final level is at or above a specified downside threshold.

The Notes pay contingent coupons only when the underlying closing level is at or above the coupon barrier on observation dates, will auto-call if the underlying closes at or above the initial level on an observation date, and expose holders to downside market loss at maturity if the final level is below the downside threshold; all payments remain subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc., maturing on February 26, 2029. The Notes pay contingent coupons only if the underlying meets coupon barriers on observation dates and may autocall quarterly (beginning ~6 months) if the underlying meets or exceeds the initial level.

The Notes repay principal at maturity only if the final level is at or above a downside threshold (example: $53.00, or 53.00% of the initial level). If the final level is below that threshold, repayment equals $10 x (1 + underlying return), which can produce a partial or total loss. Example terms: contingent coupon rate 11.17% per annum; contingent coupon $0.2793 per $10 Note; estimated initial value $9.75; minimum investment 100 Notes.

UBS AG priced a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc. The Notes have a trade date of February 20, 2026, expected settlement on February 24, 2026, a final valuation date of February 22, 2029 and an expected maturity of February 26, 2029.

The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates (quarterly after six months) and will be automatically called if the underlying closes at or above the initial level on any observation date. Principal is repaid at maturity only if the final level is at or above a disclosed downside threshold; otherwise repayment declines in line with the underlying return and could result in total loss. The estimated initial value range is $9.37 to $9.62 per $10 Note and the offering minimum is 100 Notes at $10 per Note.

UBS AG is offering $559,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. due February 24, 2028. The Notes pay contingent coupons only if the underlying closes at or above a stated 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 the final valuation date.

If not called, principal is repaid at maturity only if the final level is at or above the downside threshold (shown as $50.00, or 50.00% of the initial level); if the final level is below that threshold, redemption at maturity is reduced proportionally to the underlying return and you could lose a significant portion or all of your investment. Trade date is February 20, 2026, settlement is February 24, 2026, final valuation date is February 22, 2028, and estimated initial value per Note was $9.77. Minimum purchase is 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Halliburton Company, maturing on February 24, 2028. The Notes pay periodic contingent coupons only if observation-date closing levels meet the coupon barrier and may be automatically called if the underlying closes at or above the initial level on an observation date prior to the final valuation date.

The Notes have a minimum investment of $1,000 (100 Notes), an estimated initial value of $9.76 per Note, a disclosed contingent coupon rate of 14.76% per annum (example contingent coupon $0.369 per Note), and a downside threshold and coupon barrier of $70.00 (70.00% of the initial level). If not called and the final level is below the downside threshold, principal repayment is contingent and may result in losses up to the full investment; all payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. due on or about February 24, 2028. The notes pay a contingent coupon on each coupon payment date only if the underlying closing level on the corresponding observation date is at or above a coupon barrier; otherwise no coupon is paid. The notes 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; in that case investors receive principal plus any contingent coupon on the related call settlement date and the notes terminate.

The notes feature contingent repayment of principal at maturity tied to a downside threshold; if the final level is below that threshold, principal is reduced proportionally to the underlying return (examples show a 50.00% downside threshold and a hypothetical contingent coupon rate of 16.42% per annum). Payments depend on UBS creditworthiness, and investors may lose a substantial portion or all of their investment.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to lululemon athletica inc. due February 24, 2028. The Notes pay a contingent coupon only if the underlying stock closes at or above a coupon barrier on an observation date and will be automatically called early if the stock 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 equals $10 x (1 + underlying return), exposing holders to losses up to the full principal. Payments depend on UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc. The Notes pay contingent coupons only if the underlying closing level meets a coupon barrier on observation dates and may be automatically called early if the underlying closes at or above the initial level on any observation date.

The Notes have a trade date of February 20, 2026, expected settlement on February 24, 2026, a final valuation date of February 22, 2028 and maturity on February 24, 2028. Terms shown use a $10 principal per Note, a minimum purchase of 100 Notes ($1,000), and an estimated initial value of $9.80. An illustrative contingent coupon rate is 15.42% per annum (contingent coupon $0.3855 per $10 Note). If not called and the final level is below the downside threshold (example: $50.00, 50.00% of the initial level), principal repayment at maturity may be reduced proportionally and could result in a full loss.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Halliburton Company, maturing on or about February 24, 2028. 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 stock closes at or above the initial level on any observation date prior to the final valuation date. If not called and the final level is below a downside threshold, principal repayment may be reduced, potentially to zero; all payments are subject to the creditworthiness of UBS.

Key mechanics include a trade date of February 20, 2026, settlement on February 24, 2026, final valuation date February 22, 2028, and maturity on February 24, 2028. Minimum investment is 100 Notes at $10 per Note. Example terms show a hypothetical contingent coupon rate of 12.75% per annum and an estimated initial value range of $9.39 to $9.64 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc., with a target maturity on or about February 24, 2028. The notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and can be automatically called early if the underlying closes at or above the initial level on an observation date.

The offering sets a minimum purchase of 100 Notes at $10 per Note (principal amount $1,000). The estimated initial value range on the trade date is between $9.43 and $9.68. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above a downside threshold (example shown: 70% of initial level); if below, repayment declines in line with the underlying return and you may lose a significant portion or all of your investment. Any payments are subject to the creditworthiness of UBS AG.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Marvell Technology, Inc. stock due on or about February 24, 2028. The Notes pay contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above a 50.00% downside threshold; if below, repayment falls in proportion to the underlying return and could result in a full loss of principal.

The preliminary terms include a sample contingent coupon rate of 14.08% per annum and example contingent coupon payments; trade date is February 20, 2026, settlement February 24, 2026, final valuation date February 22, 2028. Estimated initial value range is between $9.43 and $9.68 per $10 Note as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc. The notes have a Final Valuation Date of February 22, 2028 and a Maturity Date of February 24, 2028. The principal amount per Note is $10 and the estimated initial value on the trade date was $9.77.

The notes pay periodic contingent coupons only if the underlying closing level meets or exceeds the coupon barrier on observation dates; they are automatically called early if the underlying closes at or above the initial level on an observation date, in which case holders receive principal plus any contingent coupon due. If not called, principal repayment at maturity is contingent: if the final level is below the downside threshold, holders suffer a loss equal to the underlying return and could lose all principal. All payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dollar General Corporation due February 24, 2028. The Notes pay a contingent coupon on each coupon payment date only if the underlying stock closes at or above the coupon barrier on the observation date. 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; in that case investors receive principal plus any contingent coupon then due. If the Notes are not called and the final level is below the downside threshold, maturity payment will be reduced proportionally to the underlying return and could result in the loss of all principal. The Notes are unsecured obligations of UBS, not FDIC insured, offered in minimum investments of 100 Notes (representing $1,000); the estimated initial value per $10 Note was $9.78 as of the trade date. Trade date: February 20, 2026; settlement date: February 24, 2026.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Fluor Corporation stock due February 24, 2028. The Notes pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on an observation date.

If not called, repayment at maturity depends on the final level relative to a downside threshold: if the final level is at or above the threshold, principal is returned; if below, investors suffer a loss proportional to the underlying return and could lose the entire principal. All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc. The Notes mature on February 26, 2029 and pay contingent coupons only when the underlying closing level on observation dates meets or exceeds the coupon barrier.

If the Notes are automatically called because the underlying closing level reaches or exceeds the initial level on an observation date, UBS will pay principal plus any contingent coupon on the related call settlement date and the Notes will terminate. If not called, repayment at maturity is contingent: full principal is paid only if the final level is at or above the downside threshold; otherwise repayment is reduced by the underlying return, and investors could lose a substantial portion or all of their investment. Payments are subject to the creditworthiness of UBS. The offering has a minimum investment of 100 Notes (principal $1,000) and an estimated initial value of $9.70 per Note as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc., due on or about February 24, 2028. 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 observation date.

The Notes feature a contingent repayment of principal at maturity: if not called and the final level is below the disclosed downside threshold, repayment at maturity may be less than the principal amount, potentially producing a loss equal to the underlying return. Trade date is February 20, 2026, settlement date is February 24, 2026. Minimum purchase is 100 Notes at $10 per Note. The preliminary estimated initial value range is $9.42 to $9.67. Example contingent coupon shown is 9.54% per annum.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dollar General Corporation due on or about February 24, 2028. The preliminary pricing supplement sets the trade date as February 20, 2026 and the expected settlement date as February 24, 2026.

The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on each observation date and are automatically called if the underlying closes at or above the initial level on an 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 a downside threshold of 70.00% of the initial level; if below that threshold, investors suffer a loss equal to the underlying return (examples show a potential payment of $4.20 per $10 Note in an adverse scenario).

UBS AG offers $500,000 Trigger Yield Notes linked to the common stock of Adobe Inc., due February 24, 2028. The notes pay a fixed coupon each payment date regardless of Adobe's performance and provide contingent repayment of principal at maturity based on the final level versus a downside threshold.

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 the downside threshold, the cash payment at maturity will equal $10 x (1 + Underlying Return), causing a loss equal to the percentage decline in the underlying asset; in extreme cases you could lose all principal. The offering term is approximately 24 months with a coupon rate illustrated at 11.09% per annum (quarterly coupon ~$0.2773 on a $10 Note). The estimated initial value is $9.88 and minimum investment is 100 Notes (representing $1,000). All payments, including any principal repayment, are subject to the creditworthiness of UBS AG.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation due on or about February 24, 2028. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates and include an automatic call if the underlying closes at or above the initial level on any observation date prior to maturity. If not called, principal is repaid at maturity only if the final level is at or above a disclosed downside threshold; otherwise repayment is reduced pro rata to the underlying return and investors could lose a significant portion or all of their investment. Trade date is February 20, 2026 with settlement on February 24, 2026. Minimum investment is 100 Notes at $10 per Note and the estimated initial value per Note is between $9.39 and $9.64. The preliminary pricing supplement gives illustrative coupon and threshold figures (example contingent coupon rate 15.95% per annum and downside threshold equal to 70.00% of initial level); final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc. with a stated maturity on February 26, 2029. The trade date is February 20, 2026 and expected settlement is February 24, 2026.

The Notes have a $10 principal amount per Note and a minimum purchase of 100 Notes ($1,000). UBS provides an estimated initial value range of $9.35 to $9.60 per Note. The preliminary materials show an example contingent coupon rate of 13.87% per annum and an example contingent coupon payment of $0.3468 per $10 Note.

Key economic features in the excerpt: automatic early call if the underlying's closing level on an observation date is at or above the initial level; contingent coupons paid only when the underlying is at or above a coupon barrier; and contingent repayment of principal at maturity subject to a downside threshold of $70.00 (stated as 70.00% of the initial level). If final level is below the downside threshold, principal repayment at maturity can be reduced pro rata, potentially to zero. Payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation stock due February 26, 2029. The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on each observation date and may be automatically called early if the underlying equals or exceeds the 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 you receive the $10 principal per Note; if the final level is below the downside threshold you receive $10 × (1 + Underlying Return), which can produce a partial or total loss of principal.

The offering terms show a hypothetical $10 principal per Note, an illustrative contingent coupon rate of 15.63% per annum (contingent coupon $0.3908 per $10 Note per period), a downside threshold of $65.00 (65.00% of the initial level), and key dates including trade date February 20, 2026, settlement February 24, 2026, final valuation February 22, 2029, and maturity February 26, 2029. Any payments depend on the closing level of NVIDIA stock and on UBS’s creditworthiness.

UBS AG is offering Trigger Yield Notes linked to the common stock of Adobe Inc. The Notes are unsubordinated, unsecured debt due on or about February 24, 2028 with a contingent repayment of principal at maturity tied to the final level of the underlying stock.

Terms in the excerpt: principal amount per Note is $10; expected coupon rate approximately 10.62% per annum (quarterly coupon of $0.2655); trade date February 20, 2026; settlement date February 24, 2026; final valuation date February 22, 2028. Minimum offering is 100 Notes (representing a $1,000 minimum investment). The estimated initial value range on the trade date is $9.51 to $9.76.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Caterpillar Inc., maturing on February 24, 2028. The Notes pay periodic contingent coupons only if the underlying stock closes at or above the coupon barrier on an observation date 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. If not called, repayment of principal at maturity is contingent: if the final level is at or above the downside threshold, you receive the principal; if below, repayment equals $10 x (1 + underlying return) and you may lose a significant portion or all of your investment. The example terms show a 15.80% per annum contingent coupon (example coupon $0.395 per $10 Note), a downside threshold of $70.00 (70% of initial level) and an estimated initial value of $9.81 per Note. Minimum purchase is 100 Notes (principal $1,000). Trade date and settlement are February 20, 2026 and February 24, 2026, and the final valuation date is February 22, 2028; certain dates are subject to postponement in the event of a market disruption event. All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation due on or about February 26, 2029. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on specified observation dates and may be automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold and could result in a loss up to 100% of principal tied to the underlying return. Trade date is February 20, 2026 and settlement is expected on February 24, 2026. The Notes have a minimum investment of 100 Notes at $10 per Note and an estimated initial value on the trade date between $9.36 and $9.61. All payments are subject to UBS credit risk. Investors should review the Key Risks and Product Supplement for full terms.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Caterpillar Inc., due on or about February 24, 2028. The Notes pay a contingent coupon only if the underlying closing level on an observation date is equal to or above a coupon barrier, and 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.

The Notes repay principal at maturity only if, when not previously called, the final level is equal to or above the downside threshold; if the final level is below that threshold, principal is reduced proportionally to the underlying return and investors could lose a substantial portion or all of their investment. Trade date is February 20, 2026 with expected settlement on February 24, 2026. Minimum investment is 100 Notes at $10 per Note and the estimated initial value is between $9.44 and $9.69. All payments are subject to the creditworthiness of UBS AG.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. Class C stock due February 26, 2029. The Notes pay a periodic contingent coupon only if the underlying closing level meets or exceeds a coupon barrier on observation dates; otherwise no coupon is paid.

The Notes are automatically callable on any quarterly observation date beginning ~6 months after issue if the underlying closing level is equal to or greater than the initial level; an automatic call pays principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold (example: downside threshold = $65.00, or 65.00% of initial level). If final level is below that threshold, repayment can be reduced proportionally and investors can lose a substantial portion or all principal. Trade date was February 20, 2026, settlement February 24, 2026, final valuation date February 22, 2029. Minimum investment is 100 Notes ($1,000); estimated initial value per Note was $9.68.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Class C capital stock of Alphabet Inc., due on or about February 26, 2029. The Notes have a $10 principal amount per Note and an expected trade date of February 20, 2026 with settlement on February 24, 2026.

The Notes may pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates (quarterly after six months) and will be automatically called if the underlying closes at or above the initial level on any observation date. If not called, principal repayment at maturity is contingent: if the final level is below the downside threshold you may suffer a loss equal to the underlying return, including the possibility of losing your entire investment. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes totaling $800,000 linked to the common stock of Intel Corporation, due February 26, 2029. The Notes pay periodic contingent coupons only if the closing level of Intel meets or exceeds a coupon barrier on observation dates; they are automatically called early if Intel closes at or above the initial level on any monthly observation date beginning approximately three months after issuance. At maturity, if not called, principal repayment is contingent: full principal is returned only if the final level is at or above the downside threshold; if below, principal is reduced pro rata to the underlying return and you could lose all initial investment. Key economics in the pricing supplement include a $10 principal amount per Note, an estimated initial value of $9.75 as of trade date, an illustrative contingent coupon rate of 19.42% per annum and an illustrative contingent coupon of $0.1618 per $10 Note. Observation and payment dates: trade date February 20, 2026, settlement February 24, 2026, final valuation date February 22, 2029, maturity February 26, 2029. All payments are subject to the creditworthiness of UBS AG, the Notes are not FDIC insured, and the Notes will not be listed on an exchange.

UBS AG offers Trigger Yield Notes linked to the common stock of Apollo Global Management, Inc. The Notes pay a coupon of $0.2443 quarterly (equivalent to a 9.77% per annum coupon) on a $10 principal amount and mature on February 24, 2028. If the final level of the underlying asset on the final valuation date is equal to or above the downside threshold, UBS will repay the principal amount of $10 at maturity plus the coupon. If the final level is below the downside threshold, the cash payment at maturity will equal $10 x (1 + Underlying Return), resulting in a loss equal to the percentage decline of the underlying asset (and, in extreme cases, a total loss). The trade date is February 20, 2026 and the settlement date is February 24, 2026. Payments, including any principal repayment, are subject to the creditworthiness of UBS AG. The estimated initial value on the trade date was $9.81. The Notes are offered at a minimum investment of 100 Notes at $10 per Note.

UBS AG is offering $500,000 principal of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on February 26, 2029. The notes pay contingent coupons only if observation-date closing levels meet a coupon barrier and are subject to quarterly automatic call starting about six months post-issuance.

The notes repay principal at maturity only if the final level is at or above a disclosed downside threshold; if below, repayment is reduced in proportion to the underlying return and full loss of principal is possible. All payments depend on the creditworthiness of UBS.

UBS AG offers a preliminary pricing supplement for Trigger Yield Notes linked to the common stock of Apollo Global Management, Inc. The notes are unsubordinated, unsecured debt due on or about February 24, 2028 with a principal amount of $10 per Note and an expected term of approximately 24 months.

The structure pays a quarterly coupon (example coupon rate shown 9.14% per annum producing a hypothetical quarterly payment of $0.2285 on a $10 note). Principal repayment at maturity is contingent: if the underlying stock's final level is equal to or above a downside threshold, UBS will repay the principal in cash; if below, repayment will be reduced proportionally to the underlying return, and investors could lose a significant portion or all of their investment. Trade date is February 20, 2026 with expected settlement on February 24, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology common stock. The notes mature on February 24, 2028 with a final valuation date of February 22, 2028. The terms include periodic contingent coupons (a disclosed illustrative rate of 24.97% per annum) and an automatic call if the underlying closes at or above the initial level on an 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 (illustratively $50.00, 50.00% of the initial level); if below, repayment equals $10 x (1 + underlying return) and investors can lose a significant portion or all principal. Trade date and settlement are February 20, 2026 and February 24, 2026. The estimated initial value is $9.77, and the minimum investment is 100 Notes (principal $1,000). All payments depend on UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation with expected $10 principal per Note and a maturity date of February 26, 2029. The trade date is February 20, 2026 and settlement is expected on February 24, 2026.

The Notes pay contingent coupons only when the underlying stock's closing level on an observation date is at or above a coupon barrier; they automatically call early if the underlying equals or exceeds the initial level on any monthly observation date starting after three months. If not called, principal is repaid at maturity only if the final level is at or above a downside threshold; otherwise principal is reduced proportionally to the underlying return, possibly resulting in total loss. The preliminary estimated initial value range is $9.37 to $9.62 per Note. Minimum investment is 100 Notes (representing $1,000).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, as set forth in a Preliminary Pricing Supplement dated February 20, 2026. The Notes mature on February 26, 2029 and pay contingent coupons only if the underlying closing level meets a coupon barrier on observation dates; they are subject to automatic quarterly calls beginning about six months after the trade date.

The Notes repay principal at maturity only if the final level meets a downside threshold; if the final level is below that threshold, investors suffer a loss equal to the underlying return and could lose their entire investment. All payments are subject to the creditworthiness of UBS AG. Trade and settlement dates are February 20, 2026 and February 24, 2026, respectively; the estimated initial value per $10 Note is between $9.36 and $9.61 as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., due on or about February 24, 2028. The notes pay a contingent coupon only if the underlying closing level meets or exceeds 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. 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 and investors could lose a significant portion or all of their investment. The offering has a minimum purchase of 100 notes at $10 per note, and UBS estimates an initial value range of $9.42 to $9.67 per note as of the trade date.

UBS AG is offering Trigger Callable Contingent Yield Notes due February 23, 2029 linked to the least performing of three underlying assets: the State Street SPDR S&P Regional Banking ETF (KRE), the Nasdaq-100 Technology Sector (NDXT) and the State Street Energy Select Sector SPDR ETF (XLE). The offering size is $2,447,000 in aggregate with a principal amount of $1,000 per Note and a contingent coupon rate of 12.70% per annum. The estimated initial value per Note is $979.10 and the issue price is $1,000 per Note; underwriting discount is $7 per Note. The Notes are issuer-callable beginning after six months on monthly observation dates. At maturity you receive principal only if each underlying asset’s final level is at or above its downside threshold; otherwise repayment is reduced proportionally to the negative return of the least performing underlying asset, and you could lose all of your investment. All payments are subject to UBS credit risk.

UBS AG is offering $500,000 of Capped GEARS linked to the Russell 2000® Index due February 25, 2027. Each Security has a $1,000 principal amount, $1,180.00 maximum payment at maturity and an 18.00% maximum gain with 3.00 upside gearing.

The payment at maturity depends on the underlying return between the strike date (February 18, 2026) and the final valuation date (February 19, 2027): investors receive principal plus capped upside if the Russell 2000® rises, full loss exposure to the index if it falls, and no interest. All payments, including any principal repayment, are subject to UBS credit risk.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing common stock of Amazon.com, Inc., The Walt Disney Company and United Parcel Service, Inc., due February 24, 2031. The offering size is $311,000.00 ( $1,000 per Note). The Notes pay a 14.75% per annum contingent coupon when each underlying asset meets its coupon barrier on an observation date; UBS may call the Notes monthly beginning after three months. At maturity, principal is repaid only if each underlying asset is at or above its downside threshold; otherwise repayment reflects the percentage decline of the least performing underlying asset. All payments are subject to the creditworthiness of UBS.

UBS AG is offering $6,790,000 in Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of MongoDB, Inc. The Notes have a $1,000 principal amount per Note, a contingent coupon rate of 19.05% per annum, an initial level of $355.89, a call threshold equal to $355.89 (100.00% of the initial level), and a downside threshold and coupon barrier equal to $177.95 (50.00% of the initial level).

The Notes are quarterly-observed, callable beginning after 12 months, mature on February 23, 2029, and pay contingent coupons only if observation-date closing levels meet the coupon barrier; principal repayment at maturity is contingent on the final level relative to the downside threshold. The estimated initial value per Note on the trade date was $994.10 and the issue price is $1,000.00. All payments depend on UBS’s creditworthiness and the Notes will not be listed on an exchange.

UBS AG is offering Digital S&P 500® Index‑Linked Medium‑Term Notes that do not bear interest and have a term expected to be between 12 and 14 months. For each $1,000 face amount, holders will receive either a maximum settlement amount expected to be between $1,079.00 and $1,092.70 if the final index level is at least 90.00% of the initial level, or a cash payment that declines pro rata if the final index level is below that buffer level (losing approximately 1.1111% of face amount per 1% index decline below the buffer). The estimated initial value on the trade date is expected to be between $956.00 and $986.00 per $1,000 face amount, and the original issue price is 100% of face amount with an underwriting discount of 1.08%.

UBS AG is offering Trigger Autocallable Notes with Contingent Accreting Return 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 have a $1,000 principal amount per note, a contingent accreting return rate shown as 8.05% per annum for the Russell 2000® example, a trade date of February 26, 2026, settlement on March 3, 2026, and a maturity date of March 3, 2031.

The notes are monthly-observed, callable beginning after 12 months and pay aggregate contingent accretions only if each underlying asset meets accretion barriers on observation dates. If not called and any underlying asset finishes below its downside threshold, repayment of principal is contingent and may reflect the negative return of the least performing underlying asset; in extreme cases you could lose all principal. Payments depend on UBS creditworthiness. The estimated initial value range is $956.80 to $986.80 per note.

UBS AG offers $1,150,000 of Trigger Autocallable Notes with Contingent Accreting Return linked to the least performing of the Russell 2000® and S&P 500® Indices due February 21, 2031.

The Notes pay no current income and may be automatically called on monthly observation dates after one year. If called, investors receive principal plus any aggregate accreted return. If not called, repayment at maturity depends on the final levels versus specified accretion barriers, call thresholds and downside thresholds; principal can be partially or fully lost if the least performing index falls below its downside threshold.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing common stock of Amazon.com, Inc. and Palantir Technologies Inc.

The Notes have a principal amount of $1,000 per Note, a contingent coupon rate of 21.55% per annum, monthly observation dates (callable after six months), a final valuation date of February 28, 2028 and a maturity date of March 2, 2028. The coupon barrier and downside threshold are each 50.00% of the Initial Level for each underlying asset. If UBS elects to call the Notes on an observation date, holders receive principal plus any contingent coupon then due. If UBS does not call the Notes and the final level of any underlying asset is below its downside threshold, holders will receive a reduced cash payment tied to the negative return of the least performing underlying asset and could lose a significant portion or all of their investment. The issuer will receive net proceeds after an underwriting discount of $6.50 per Note, and the estimated initial value is expected to be between $947.00 and $977.00 per Note on the trade date.

UBS AG is offering $7,577,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the SPDR S&P Regional Banking ETF (KRE), the Nasdaq-100 Technology Sector (NDXT) and the Utilities Select Sector SPDR Fund (XLU), with maturity on July 20, 2028.

The notes pay a fixed contingent coupon of 11.35% per annum if, on an observation date, the closing level of each underlying is at or above its coupon barrier (each coupon barrier equals 60.00% of the initial level). UBS may call the notes on monthly observation dates beginning after three months; if not called, repayment at maturity is principal-only if every final level is at or above its downside threshold (60.00% of initial levels), otherwise repayment exposes holders to the negative return of the least performing underlying asset (potentially a total loss).

UBS AG offers $1,499,000 in Digital EURO STOXX 50® Index-Linked Medium-Term Notes due August 20, 2027. The notes pay no interest and settle in cash based on the EURO STOXX 50® Index performance from the trade date February 18, 2026 to the determination date August 18, 2027.

Holders receive $1,118.00 per $1,000 face amount if the final underlier level is ≥ the buffer level (85.00% of the initial level 6,103.37). If the final level is below the buffer, losses apply at approximately 1.1765% of face amount per 1.00% negative underlier return below the buffer; total loss of principal is possible. The estimated initial value on the trade date was $994.50 per $1,000 face amount.

UBS AG is offering preliminary terms for Capped Buffer GEARS linked to the iShares® MSCI EAFE ETF (ticker EFA), with a principal amount of $1,000 per Security and an expected term of approximately 12 months. The product provides upside exposure at an upside gearing of 1.50 capped by a maximum gain of 11.10 (maximum payment at maturity $1,111.00), and a downside buffer of 10.00 (downside threshold equal to 90.00 of the initial level).

The trade date is set as March 10, 2026, settlement March 13, 2026, final valuation date March 15, 2027 and maturity March 18, 2027. The estimated initial value range is $959.10 to $989.10; the issue price is $1,000 with underwriting discount $6.00 and proceeds to UBS of $994.00 per Security. Payments and any repayment of principal are subject to UBS credit risk.

UBS AG is offering Capped Buffer GEARS linked to the State Street® SPDR® S&P MIDCAP 400® ETF Trust (MDY), due on or about March 18, 2027. Each Security has a principal amount of $1,000, an upside gearing of 1.50, a maximum gain of 13.00 (maximum payment at maturity $1,130.00) and a buffer of 10.00 (downside threshold equal to 90.00 of the initial level).

Key dates in the preliminary terms include a trade date of March 10, 2026, expected settlement on March 13, 2026, a final valuation date of March 15, 2027, and maturity on March 18, 2027. UBS estimates the initial value range as $958.70 to $988.70 and the issue price is $1,000 per Security with an underwriting discount of $6.00.

The Securities do not pay interest, are unsecured obligations of UBS, and any repayment is subject to UBS’ creditworthiness; investors may lose some or almost all of their principal if the final level is below the downside threshold or if UBS defaults.