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

UBS AG is offering Capped Buffer GEARS linked to the S&P 500® Index due on or about March 18, 2027. Each Security has a $1,000 principal amount and provides enhanced upside participation subject to an Upside Gearing of 1.50 and a Maximum Gain of 11.05%. The Securities include a 10.00% buffer (Downside Threshold = 90.00% of the Initial Level) and pay at maturity based on the percentage change in the S&P 500 from the trade date to the final valuation date.

The trade date is expected to be March 10, 2026, settlement on March 13, 2026, final valuation date on March 15, 2027, and maturity on March 18, 2027. The issue price is $1,000 per Security, the estimated initial value range is $957.20–$987.20, and the underwriting discount is $6.50 per Security.

UBS AG is offering Contingent Income Auto-Callable Securities linked to the iShares® Expanded Tech-Software Sector ETF (ticker IGV). The securities are sold at an issue price of $1,000.00 per security with an expected pricing date of February 27, 2026, original issue date March 4, 2026 and expected maturity on or about March 2, 2029.

Each security may pay a contingent payment of $34.50 per observation period (equivalent to 13.80% per annum) only if the underlying fund's closing price is at or above the coupon barrier level (75.00% of the initial price) on each trading day during that period. The securities are auto-callable if the underlying fund is at or above the call threshold (100.00% of the initial price) on an observation end date. If not called and the final price is below the downside threshold (65.00% of the initial price), holders receive a cash value tied to the underlying fund and may lose a significant portion or all of their investment.

The estimated initial value on the pricing date is expected to be between $925.20 and $955.20. Payments on the securities are unsecured obligations of UBS AG and are subject to UBS credit risk; the securities will not be listed on an exchange and may have little or no secondary market.

UBS AG is offering Contingent Income Auto-Callable Securities linked to the common stock of Freeport-McMoRan Inc. The securities have a $1,000.00 stated principal amount per security, an expected pricing date of February 25, 2026, and an expected original issue date of March 2, 2026, with an expected maturity of about March 1, 2029. Each determination date can trigger a contingent payment of $39.625 (equivalent to 15.85% per annum) if the closing price of the underlying equity is at or above the downside threshold, set at 60.00% of the initial price; the call threshold equals 100.00% of the initial price. If the securities are not called and the final price is below the downside threshold, holders receive a cash value based on the exchange ratio and final price and may lose a significant portion or all of their initial investment. The issue price is $1,000.00 per security; UBS estimates the initial value at pricing between $930.50 and $960.50. All payments are subject to the credit risk of UBS AG.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of Apple Inc. (AAPL), the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Utilities Select Sector SPDR ETF (XLU). The Notes pay a contingent coupon of 10.35% per annum when each underlying asset meets its coupon barrier on an observation date, are callable monthly beginning after August 19, 2026 (six months after the strike), and mature on February 23, 2029. Key economics: principal amount is $1,000 per Note, estimated initial value range is $923.20 to $952.30, and the underwriting discount is $35.00 per Note (proceeds to UBS $965.00 per Note). The Notes expose holders to the market risk of the least performing underlying asset and to UBS credit risk; if not called and the final level of any underlying asset is below its downside threshold, investors may lose a significant portion or all of their principal.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the iShares Expanded Tech-Software Sector ETF (ticker IGV), maturing February 23, 2029. The notes pay a contingent coupon of 9.00% per annum only if observation-date levels meet the coupon barrier.

Key terms set on the February 19, 2026 strike date: Initial Level $81.78; Call Threshold = $81.78 (100.00% of Initial Level); Coupon Barrier and Downside Threshold = $53.16 (65.00% of Initial Level). Issue price is $1,000.00 per note, estimated initial value range $932.30–$962.30, underwriting discount $23.50 per note, proceeds to UBS $976.50 per note. Payments, including principal at maturity, are subject to UBS credit risk; if final level is below the downside threshold you may lose a significant portion or all of your investment.

UBS AG is offering $250,000 of Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index due February 24, 2031. The Notes pay a contingent coupon of 18.25% per annum only if the underlying index on each observation date is at or above the coupon barrier (190.48 initial-level equivalent). The Notes are callable monthly beginning after six months if the index reaches the call threshold (272.12, 100.00% of the initial level). At maturity holders receive principal only if the final level is at or above the downside threshold (136.06, 50.00% of the initial level); otherwise repayment is reduced pro rata and full loss is possible. All payments depend on UBS creditworthiness. Trade date: February 19, 2026; Settlement: February 24, 2026.

UBS AG is offering 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 have a principal amount of $1,000 per Note and a term of approximately 23 months, with a trade date of February 27, 2026, settlement on March 4, 2026, a final valuation date of January 27, 2028 and a maturity date of February 1, 2028.

They pay a fixed contingent coupon at a 12.85% per annum rate only if, on an observation date, the closing level of each underlying asset is equal to or above its coupon barrier (specified as 70.00% of initial level). UBS may call the Notes in whole on monthly observation dates beginning after three months. Principal repayment at maturity is contingent: if any underlying is below its 70.00% downside threshold, payment will be reduced proportionally to the negative return of the least performing underlying, and you could lose all of your investment. The estimated initial value range is $958.30 to $988.30 per Note. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation maturing on February 23, 2028. The notes pay contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and may be automatically called if the underlying closes at or above the initial level on any prior observation 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, the cash payment equals $10 x (1 + Underlying Return), exposing you to the underlying’s downside and possible loss of all principal. Key disclosed terms include a principal amount per note of $10, a contingent coupon rate of 18.02% per annum (contingent coupon example $0.4505), a downside threshold and coupon barrier of $65.00 (65.00% of the initial level), an estimated initial value of $9.80, trade date February 19, 2026, settlement February 23, 2026, final valuation date February 18, 2028, and maturity February 23, 2028. Minimum investment is 100 Notes (representing $1,000). All payments are subject to the creditworthiness of UBS AG.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, with a trade date of February 19, 2026, expected settlement on February 23, 2026, a final valuation date of February 18, 2028 and maturity on February 23, 2028.

The Notes pay periodic contingent coupons only if the underlying closing level on an observation date is at or above the coupon barrier, and they are automatically called early if the underlying closes at or above the initial level on any prior observation date. At maturity, if not called, principal is repaid only if the final level is at or above the downside threshold; if below, repayment is reduced in proportion to the underlying return and you could lose all of your initial investment. Any payments depend on the creditworthiness of UBS. The estimated initial value was stated as $9.79 per $10 Note and the minimum purchase is 100 Notes (a $1,000 investment).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on February 23, 2028. The notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier on observation dates; they 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 repayment at maturity is contingent: full principal is paid only if the final level is at or above a downside threshold; otherwise the cash payment falls in proportion to the underlying return, and investors could lose a significant portion or all of their investment. Trade date is February 19, 2026 with settlement on February 23, 2026. Minimum investment is 100 Notes at $10 per Note. UBS states the estimated initial value range is $9.43 to $9.68 per 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 Oracle Corporation due on or about February 23, 2028. The Notes pay a contingent coupon only if the underlying stock's closing level on an observation date meets or exceeds the coupon barrier; otherwise no coupon is paid. The Notes are subject to automatic early redemption if the underlying stock on any observation date prior to the final valuation date is equal to or greater than the initial level. If not called, principal repayment at maturity is contingent: full principal is repaid only if the final level is at or above the downside threshold ($60.00, equal to 60.00% of the initial level); if the final level is below that threshold, repayment will be reduced proportionally and investors could lose all principal.

Trade and settlement are expected on February 19, 2026 and February 23, 2026, respectively; final valuation date is February 18, 2028. Notes are sold in $10 denominations with a minimum purchase of 100 Notes. The estimated initial value per Note is between $9.44 and $9.69. All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Microsoft Corporation due February 23, 2029. The notes pay a contingent coupon on each coupon payment date only if the closing level of Microsoft is at or above the coupon barrier on the corresponding observation date; otherwise no coupon is paid. The notes are automatically called early on any quarterly observation date (beginning after 6 months) if the closing level 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 repayment at maturity depends on the final level relative to the downside threshold (the example shows a $10 principal with a $75.00 downside threshold equal to 75.00% of the initial level), and holders may suffer losses up to the full principal loss if the final level is below the threshold. The estimated initial value is $9.73 per note; minimum investment is 100 notes ($1,000). All payments are subject to the creditworthiness of UBS and market disruption postponement provisions.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation, with a maturity date of February 23, 2029. This preliminary pricing supplement is subject to final terms and delivery of the Offering Documents.

The Notes pay periodic contingent coupons only if the closing level of the underlying stock on each observation date meets or exceeds the coupon barrier and are subject to quarterly observation dates beginning about six months after the trade date. The Notes will be automatically called if the closing level on any applicable observation date is equal to or greater than the initial level, in which case holders receive principal plus any contingent coupon on the related call settlement date. If the Notes are not called and the final level is below the downside threshold, principal repayment at maturity is contingent and may result in a loss equal to the percentage decline in the underlying; in extreme cases, the entire investment could be lost.

Key disclosed terms (illustrative): trade date February 19, 2026, settlement date February 23, 2026, final valuation date February 21, 2029, maturity February 23, 2029, minimum investment 100 Notes ($1,000), estimated initial value range $9.38 to $9.63, and a hypothetical contingent coupon rate of 9.21% per annum in examples. The offering is subject to UBS credit risk and final pricing on the trade date.

UBS AG is offering $2,340,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, due February 23, 2029. The Notes pay a contingent coupon on scheduled coupon dates only if the closing level of Intel meets or exceeds a coupon barrier on an observation date; otherwise no coupon is paid. The Notes are automatically called early if Intel closes at or above the initial level on any quarterly observation date beginning after approximately six months; an automatic call triggers payment of principal plus any contingent coupon then due.

If not called, principal repayment at maturity depends on the final level relative to a downside threshold: if the final level is at or above the downside threshold, UBS pays the principal; if below, repayment can be reduced proportionally (you could lose all principal). Illustrative terms show a 20.58% per annum contingent coupon (example contingent coupon $0.5145 per $10 Note), a downside threshold and coupon barrier of $60.00 (60% of the initial level), an estimated initial value of $9.75 per $10 Note, and a minimum investment of 100 Notes ($1,000).

The Notes are unsecured obligations of UBS and subject to UBS credit risk; investors may receive no coupons and may lose a significant portion or all of their initial investment.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation. The preliminary pricing supplement describes notes with quarterly observation dates (first after six months), a potential automatic call, contingent coupons and contingent principal repayment at maturity.

Trade date is February 19, 2026, settlement February 23, 2026, final valuation date February 21, 2029, and maturity February 23, 2029. Minimum investment is 100 Notes at $10 per Note. The estimated initial value range is $9.36 to $9.61 as of the trade date. Example terms show a hypothetical contingent coupon rate of 18.59% per annum, a coupon of $0.4648 per $10 Note, and a downside threshold and coupon barrier at $60.00 (60.00% of the initial level).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Broadcom Inc. stock due February 23, 2028. The notes pay periodic contingent coupons only if Broadcom's closing level meets the coupon barrier on observation dates and will be automatically called early if the closing level meets or exceeds 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; otherwise, principal is reduced in direct proportion to the underlying return, potentially resulting in the loss of the entire investment. Payments, including any principal repayment, are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on February 23, 2029. The Notes pay a contingent coupon on each coupon payment date only if the underlying closing level on an observation date meets or exceeds the coupon barrier; otherwise no coupon is paid. The Notes are automatically called if the underlying closing level on any quarterly observation date (beginning after six months) is equal to or greater than the initial level, in which case holders receive principal plus any contingent coupon payable on the related coupon payment date and no further payments. If not called, repayment of principal at maturity is contingent: if the final level is at or above the downside threshold the principal is returned; if the final level is below that threshold holders suffer a loss equal to the underlying return, possibly losing all principal. Minimum investment is 100 Notes at $10 per Note; the estimated initial value on the trade date is $9.74. All payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc. The Notes pay contingent coupons only if the underlying meets observation-date barriers and may be automatically called early if the underlying reaches the initial level on an observation date.

The trade date is February 19, 2026, settlement is February 23, 2026, final valuation date is February 18, 2028, and maturity is February 23, 2028. Minimum investment is 100 Notes at $10 per Note (a $1,000 minimum). The preliminary pricing shows an estimated initial value range of $9.42 to $9.67 per Note and an illustrative contingent coupon rate of 16.52% per annum (hypothetical example).

UBS AG offers a preliminary pricing supplement for $• Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc. The Notes have a trade date of February 19, 2026, expected settlement date February 23, 2026, a final valuation date of February 21, 2029 and a maturity date of February 23, 2029.

The Notes pay a periodic contingent coupon only if the underlying closing level on an observation date is at or above the coupon barrier; they are automatically callable on any quarterly observation date (beginning after six months) if the closing level is at or above the initial level. If not called, principal repayment at maturity is contingent: full principal is repaid only if the final level is at or above the downside threshold; otherwise the cash payment equals $10 multiplied by (1 + underlying return), exposing investors to the negative return of the underlying asset. Minimum investment is 100 Notes ($1,000); the estimated initial value is between $9.36 and $9.61 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Blackstone Inc. The Notes pay contingent coupons only if the underlying meets a coupon barrier on observation dates and may be automatically called early if the underlying reaches the initial level. The Notes have a trade date of February 19, 2026, a settlement date of February 23, 2026, a final valuation date of February 18, 2028 and a maturity date of February 23, 2028. Minimum investment is 100 Notes at $10 per Note. The estimated initial value on the trade date is $9.76. If the Notes are not called and the final level is below the downside threshold (shown as $75.00, 75% of the initial level), principal repayment is contingent and losses may equal the percentage decline in the underlying; in extreme cases you could lose your entire investment.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., due February 23, 2028. The notes pay a periodic contingent coupon only if the underlying 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 closing level on any observation date prior to the final valuation date 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 and the final level is at or above the downside threshold, holders receive principal at maturity. If not called and the final level is below the downside threshold, holders receive a cash amount equal to $10 × (1 + underlying return) and may suffer a loss up to the full principal. The pricing example shows a contingent coupon rate of 26.23% per annum, a contingent coupon of $0.6558 per $10 note, a downside threshold of $50.00 (50.00% of the initial level) and an estimated initial value of $9.77. Minimum investment is 100 notes ($1,000). Payments are subject to UBS credit risk.

UBS AG is offering a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Blackstone Inc. The trade date is February 19, 2026 with expected settlement on February 23, 2026, a final valuation date of February 18, 2028 and maturity on February 23, 2028. The Notes pay contingent coupons only if the underlying's closing level meets or exceeds a coupon barrier on observation dates and are subject to automatic early redemption if the underlying equals or exceeds the initial level on any prior observation date. If not called and the final level is below the downside threshold, principal repayment at maturity may be reduced, potentially to zero. The Notes have a minimum investment of 100 Notes at $10 per Note and an estimated initial value range of $9.38 to $9.63 on the trade date. All payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. with an expected maturity of February 23, 2028. The notes pay periodic contingent coupons only if the underlying meets coupon barriers on observation dates and can be automatically called early if the underlying equals or exceeds the initial level on any prior observation date. Each Note has a principal amount of $10, a minimum investment of 100 Notes ($1,000) and an estimated initial value range of $9.42 to $9.67 as of the trade date. If the Notes are not called and the final level is below the downside threshold (example: $50.00, or 50.00% of the initial level in the hypothetical), repayment at maturity may be less than principal, and investors may lose a significant portion or all of their investment. All payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation stock. 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 equals or exceeds the initial level. The securities mature on February 23, 2027 with a final valuation date of February 19, 2027. Principal repayment at maturity is contingent: if the final level is below the downside threshold the cash payment may be less than principal, producing a loss equal to the underlying return; extreme losses, including total loss of principal, are possible. The notes have a principal amount of $10 per note, a minimum purchase of 100 notes, an estimated initial value of $9.86, and are unsecured obligations of UBS, subject to UBS credit risk.

UBS AG is offering $1,125,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Uber Technologies, Inc., maturing on August 23, 2027. The Notes pay a contingent coupon only if the underlying closing level on an observation date is at or above the coupon barrier; otherwise no coupon is paid for that period. The Notes are subject to automatic early call on any quarterly observation date (beginning after 6 months) if the underlying closing level is at or above the initial level, in which case UBS pays principal plus any contingent coupon on the related call settlement date. If not called, repayment at maturity depends on the final level relative to a downside threshold of 70% of the initial level; a final level below that threshold produces a pro rata loss in principal (up to a total loss). Trade and settlement dates are February 19, 2026 and February 23, 2026, respectively. All payments are subject to UBS credit risk.

UBS AG offers $100,000 Trigger Autocallable Contingent Yield Notes linked to Micron Technology common stock due February 23, 2028. The Notes pay a contingent coupon only if the underlying closing level on an observation date meets or exceeds the coupon barrier; otherwise no coupon is paid. The Notes are automatically called if the underlying closes at or above the initial level on any quarterly observation date beginning approximately 9 months after the trade date; a call results in payment of principal plus any contingent coupon then due. 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; if the final level is below that threshold, repayment is reduced pro rata to the underlying return and could result in a total loss. The Notes have a principal amount per Note of $10, an illustrative contingent coupon rate of 23.70% per annum (contingent coupon $0.5925 per quarter on a $10 Note), an estimated initial value of $9.68 and are unsecured obligations subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, subject to completion and final Offering Documents. The Notes have a $10 principal amount per Note, trade date February 19, 2026, expected settlement February 23, 2026, final valuation date February 19, 2027 and maturity February 23, 2027.

The Notes pay contingent coupons only if the underlying closing level equals or exceeds a coupon barrier on observation dates and are automatically called if the underlying equals or exceeds the initial level on an observation date prior to maturity. If not called, repayment at maturity is contingent: full principal is repaid only if the final level is at or above a downside threshold; otherwise principal is reduced pro rata to the underlying return, potentially resulting in loss of the entire investment. The preliminary estimated initial value range is $9.50 to $9.75. Minimum purchase is 100 Notes (representing a $1,000 investment).

UBS AG offers preliminary Trigger Autocallable Contingent Yield Notes linked to the common stock of Uber Technologies, Inc. The trade date is February 19, 2026, settlement is February 23, 2026, the final valuation date is August 19, 2027 and expected maturity is August 23, 2027.

The Notes have a $10 principal amount per Note, a minimum purchase of 100 Notes (a $1,000 investment) and an estimated initial value range of $9.41 to $9.66 as of the trade date. UBS will pay contingent coupons only when the underlying closing level meets or exceeds a coupon barrier on observation dates, and the Notes will autocall early if the underlying closes at or above the initial level on any quarterly observation date beginning after six months. If not called and the final level is below the downside threshold, principal repayment at maturity may be less than the principal amount, potentially resulting in a loss up to the full investment. Any payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. due on or about February 23, 2028. The trade date is February 19, 2026 with expected settlement on February 23, 2026 and a final valuation date of February 18, 2028.

The Notes pay contingent quarterly coupons only if the underlying closing level is at or above a coupon barrier on an observation date and are subject to automatic early call if the underlying closes at or above the initial level on any qualifying observation date (quarterly, beginning after nine months). If not called and the final level is below the downside threshold, principal repayment at maturity may be reduced in proportion to the underlying return, potentially resulting in a total loss. Minimum investment is 100 Notes at $10 per Note. The estimated initial value is between $9.38 and $9.63 per Note.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000®, EURO STOXX 50® and the State Street® Utilities Select Sector SPDR® ETF. The Notes have a principal amount of $1,000 per Note, an expected term of approximately three years, a contingent coupon rate shown as 10.30% per annum for the Russell 2000® leg, quarterly observation dates beginning May 26, 2026, an expected trade date of February 24, 2026 and an expected maturity of March 1, 2029.

The Notes pay contingent coupons only if each underlying asset meets its coupon barrier on an observation date; UBS may call the Notes in whole (beginning after six months). Principal repayment at maturity is contingent: if any underlying asset finishes below its downside threshold, repayment may be reduced proportionally to the loss of the least performing underlying asset. Payments are subject to UBS credit risk. The estimated initial value range is stated between $957.10 and $987.10 per Note.

UBS AG is offering Capped Buffer GEARS linked to an equally-weighted basket of 26 selected equities with an expected term of approximately 24 months. The Securities are issued at $10.00 per Security with a minimum investment of 100 Securities and provide upside exposure with 2.00 upside gearing and a buffer of 10.00.

At maturity, a positive basket return pays principal plus the lesser of (a) basket return × upside gearing or (b) the maximum gain (42.00–46.40); if final basket level is below the downside threshold (90.00 of initial), investors suffer losses beyond the buffer and could lose almost all principal. Payments are subject to UBS credit risk. Estimated initial value range is $9.436–$9.736 as of the trade date.

UBS AG London Branch is offering Digital S&P 500® Index‑Linked medium‑term notes that do not bear interest and have a face amount of $1,000 per note. The notes measure S&P 500 performance from the trade date to a determination date expected 20 to 23 months later.

If the final underlier level is at or above a buffer set at 87.50% of the initial underlier level, holders receive a capped maximum settlement amount expected to be between $1,129.30 and $1,152.10 per $1,000 face amount. If the final level falls below the buffer, losses accrue at approximately 1.1429% of face amount for each 1.00% decline below the buffer; holders can lose their entire investment. The estimated initial value on the trade date is expected to be between $967.50 and $997.50, and the stated issue price is 100.00% of face amount.

UBS AG is offering Capped GEARS linked to the Russell 2000® Index, a ~12-month unsecured note that pays at maturity based on the percentage change in the Russell 2000 from the Strike Date to the Final Valuation Date. Each Security has a $1,000 principal amount, Upside Gearing of 3.00%, a Maximum Gain of 18.00% and a maximum payment at maturity of $1,180.00. Key dates include Strike Date: February 18, 2026, Trade Date: February 19, 2026 and Maturity Date: February 25, 2027.

The payment profile: if the underlying return is positive, maturity payment = $1,000 × (1 + the lesser of (Underlying Return × Upside Gearing) and the Maximum Gain); if zero, you receive principal; if negative, you suffer losses proportionate to the underlying return and could lose all principal. The estimated initial value range on the trade date is between $943.10 and $973.10; the underwriting discount is $17.50 per Security and proceeds to UBS are $982.50 per Security. Purchasers bear both market exposure to the Russell 2000 and UBS credit risk, limited upside and no interest or dividend benefits.

UBS AG is offering $500,000 of Trigger Callable Contingent Yield Notes due February 23, 2029. The Notes pay a 10.17% per annum contingent coupon if, on each monthly observation date, the closing level of the Russell 2000, S&P 500 and XLU is at or above its coupon barrier.

If UBS elects to call the Notes (first callable after three months), holders receive principal plus any contingent coupon on the call settlement date. If not called, principal is repaid at maturity only if each underlying’s final level is at or above its downside threshold (each set at 70.00% of initial levels). If the least performing underlying is below its downside threshold, maturity payment = $1,000×(1 + underlying return of the least performing underlying), which can result in substantial or total loss. All payments remain subject to UBS credit risk.

UBS AG is offering $435,000 of Buffer Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the State Street® Utilities Select Sector SPDR® ETF. Each Note has a $1,000 principal amount, a contingent coupon rate of 6.50% per annum, a 15.00% buffer, monthly observation dates (callable after 12 months), an estimated initial value of $948.30, a final valuation date of February 18, 2031, and maturity on February 21, 2031.

The Notes pay contingent coupons only if both underlying assets meet coupon barriers on an observation date, are automatically called if both meet call thresholds on an observation date, and repay principal at maturity only if the least performing underlying asset is not below its downside threshold; otherwise principal is reduced by the loss of the least performing underlying asset in excess of the buffer. Payments are subject to UBS credit risk.

UBS AG offers $500,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Invesco S&P 500® Equal Weight ETF (RSP), the Russell 2000® Index (RTY) and the State Street® Utilities Select Sector SPDR® ETF (XLU). The Notes have a principal amount of $1,000 per Note, a contingent coupon rate of 9.25% per annum, a strike date of February 17, 2026, trade and settlement dates in February 2026, and a final valuation and maturity in February 2031.

The Notes pay periodic contingent coupons only if 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. If not called, principal is repaid at maturity only if each underlying asset is at or above its downside threshold; otherwise repayment is reduced by the negative return of the least performing underlying asset. Payments are unsecured obligations of UBS and depend on UBS creditworthiness. The issue price totals $500,000.00 and the estimated initial value per Note was $986.60 on the trade date.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the State Street SPDR ETFs KRE, XBI and XLF, due on or about February 28, 2030. The notes pay a 18.70% per annum contingent coupon when each underlying is at or above its coupon barrier on observation dates; otherwise no coupon is paid.

The notes are issuer-callable beginning after three months on monthly observation dates; if called UBS will pay principal plus any contingent coupon on the corresponding call settlement date. If not called, principal repayment at maturity is contingent: full principal is returned only if each underlying's final level is at or above its downside threshold (70% of initial level); otherwise repayment falls proportional to the negative return of the least performing underlying asset. Trade date is February 24, 2026 and settlement is February 27, 2026. Estimated initial value range is $952.60 to $982.60 per note; issue price is $1,000.00 per note.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, the Russell 2000 Index and shares of the VanEck Semiconductor ETF. The Notes have a principal amount of $1,000 per Note, an expected term of approximately 3 years, a contingent coupon rate of 10.90% per annum and are callable by UBS beginning after six months.

Key dates in the excerpt: trade date February 27, 2026, expected settlement March 4, 2026, final valuation date February 27, 2029 and maturity March 2, 2029. The estimated initial value range is $952.90 to $982.90; issue price per Note is $1,000 with underwriting compensation up to $9.50 and minimum proceeds to UBS of $990.50. The Notes repay principal at maturity only if each underlying asset is at or above its downside threshold; otherwise repayment will be reduced based on the least performing underlying asset and credit exposure is to UBS.

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. The notes have a principal amount of $1,000 per note and a term of approximately three years.

The notes pay a contingent coupon of 12.15% per annum if, on each observation date, the closing level of each underlying asset is at or above its coupon barrier (each barrier is 70.00% of the initial level). The notes are callable by UBS beginning after six months. If not called, repayment at maturity is contingent: full principal is paid only if each final level is at or above its downside threshold (70.00%); otherwise payment equals $1,000 times (1 + underlying return of the least performing underlying asset), which can result in a total loss.

Key dates: trade date March 6, 2026, expected settlement March 11, 2026, final valuation date March 6, 2029, maturity March 9, 2029. The estimated initial value range on the trade date is $961.40 to $991.40. All payments depend on UBS creditworthiness and the notes are not FDIC insured; secondary market liquidity may be limited.

UBS AG is offering $5,697,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the State Street SPDR S&P Regional Banking ETF (KRE), the VanEck Semiconductor ETF (SMH) and the State Street Energy Select Sector SPDR ETF (XLE), maturing February 22, 2030.

The notes pay a contingent coupon of 17.35% per annum on each coupon payment date only if every underlying asset is at or above its coupon barrier on the related observation date; otherwise no coupon is paid. UBS may call the notes in whole on monthly observation dates beginning after nine months. If not called, principal repayment at maturity is contingent: full principal is returned only if each underlying asset is at or above its downside threshold (60% of initial level); otherwise repayment is reduced pro rata by the negative return of the least performing underlying asset, potentially resulting in substantial loss or total loss of principal. Estimated initial value per note is $976.00 and issue price is $1,000.00.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. Class C stock due February 22, 2028. The notes pay a contingent coupon only if the underlying's closing level on an observation date is at or above the coupon barrier; otherwise no coupon is paid. The notes are automatically called early if the underlying closes at or above the initial level on any observation date before the final valuation date; on a call UBS pays principal plus any contingent coupon due. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold (example: $65.00, or 65.00% of the initial level); if the final level is below that threshold, repayment equals $10×(1+Underlying Return) and may result in full loss of principal. Trade and settlement dates are February 18, 2026 and February 20, 2026; final valuation and maturity dates are February 17, 2028 and February 22, 2028. The estimated initial value was $9.74, minimum investment is 100 notes ($1,000), and an example contingent coupon rate is 8.46% per annum (contingent coupon $0.2115 per $10 note). All payments are subject to UBS's creditworthiness.

UBS AG offers Trigger Autocallable GEARS linked to the iShares Expanded Tech-Software Sector ETF (IGV), maturing on February 28, 2029. The securities pay no interest and may be automatically called on the observation date if the underlying reaches the autocall barrier. Key economic terms shown include a 17.50% call return rate, upside gearing of 1.30 to 1.50, an autocall barrier equal to 100.00% of the initial level and a downside threshold equal to 75.00% of the initial level. Trade date and settlement are expected on February 25, 2026 and February 27, 2026, with an observation date of March 4, 2027 and final valuation on February 26, 2029. Minimum purchase is $1,000 (100 securities at $10 each). Any payments, including repayment of principal, depend on UBS creditworthiness and holders may lose a significant portion or all of their investment.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and shares of the VanEck® Semiconductor ETF. The Notes have a $1,000 principal amount, a contingent coupon rate of 18.30% per annum and an expected term of approximately 4.5 years, with a trade date of February 27, 2026, settlement on March 4, 2026, final valuation on August 27, 2030 and maturity on August 30, 2030. UBS may call the Notes in whole on monthly observation dates beginning after six months; contingent coupons are paid only if every underlying asset meets its coupon barrier on an observation date. At maturity, principal is repaid only if each underlying asset is at or above its downside threshold; otherwise repayment reflects the negative return of the least performing underlying asset, and investors could lose a significant portion or all of their investment. The estimated initial value range is $960.80 to $990.80 and the issue price is $1,000 per Note with a $5 underwriting discount.

UBS AG offers $2,675,000 in Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000^® Index and the S&P 500^® Index. The Notes pay a contingent coupon of 10.55% per annum on each coupon date only if both underlyings meet coupon barriers; UBS may call the Notes monthly beginning after three months. The Notes have an initial estimated value of $984.10 per Note, an issue price of $1,000 per Note, a strike date of February 17, 2026, and maturity on August 20, 2027. At maturity, if any underlying is below its downside threshold (65.00% of its initial level), repayment may be reduced pro rata to the negative return of the least performing underlying, potentially resulting in a total loss. Payments are subject to UBS credit risk.

UBS AG is offering $2,001,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the State Street Communication Services Select Sector SPDR ETF (XLC) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY). The Notes have a principal amount of $1,000 per Note, a contingent coupon rate of 7.75% per annum, an estimated initial value of $982.10, and an issue price of $1,000 per Note. The strike date is February 17, 2026, the final valuation date is February 17, 2028, and the maturity date is February 23, 2028. The Notes are callable monthly beginning after 12 months if both underlying assets meet their call threshold (100% of initial levels). Coupon barriers are set at 70% of initial levels and downside thresholds at 60%. If not called and the least performing underlying asset finishes below its downside threshold, principal repayment is contingent and may result in substantial loss, including loss of all principal. All payments are subject to UBS credit risk.

UBS AG is offering $1,000,000 of Buffer Callable Contingent Yield Notes due February 19, 2027 linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. The Notes pay a 6.75% per annum contingent coupon on any coupon date only if each underlying index 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. At maturity, principal is repaid only if each final index level is at or above a 70.00% downside threshold (a 30.00% buffer); otherwise repayment is reduced based on the loss of the least performing index. Payments are unsecured obligations of UBS and depend on UBS creditworthiness. The estimated initial value on the trade date was $989.80 and the issue price was $1,000 per Note.

UBS AG is offering UBS AG Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of MongoDB, Inc., due on or about February 23, 2029. The Notes have a principal amount of $1,000 per Note and a contingent coupon rate of 19.05% per annum. The Notes are callable on quarterly observation dates beginning after 12 months if the closing level of the underlying is at or above the call threshold (set at 100.00% of the initial level). The coupon barrier and downside threshold are each 50.00% of the initial level. Trade date is February 19, 2026 with expected settlement on February 24, 2026. UBS cites an estimated initial value range of $953.40 to $983.40 per Note as of the trade date. All payments, including any contingent coupons or repayment of principal, are subject to the creditworthiness of UBS.

UBS AG is offering Capped Buffer Contingent Absolute Return Securities linked to the S&P 500® Index with an issue price of $1,000 per Security. The notes feature a Maximum Upside Gain of 11.25%, a Buffer of 10.00%, trade date February 25, 2026, expected settlement March 2, 2026, final valuation date March 25, 2027 and maturity on or about March 31, 2027.

The payout at maturity depends on the underlying return: positive returns pay up to the 11.25% cap; zero or negative returns at or above the 90% downside threshold produce a contingent absolute return (capped at 10.00%); returns below the downside threshold result in principal losses beyond the 10% buffer. The estimated initial value range is $958.90 to $988.90 as of the trade date.

UBS AG London Branch priced a preliminary pricing supplement, dated February 19, 2026, for Digital S&P 500® Index-Linked medium-term notes with a face amount of $1,000 per note and an expected term of 22 to 25 months. The notes pay no interest and have a buffer level equal to 87.50% of the initial S&P 500 level and an expected cap level between 114.17% and 116.67% of the initial level. If the final level is at or above the buffer, holders receive a maximum settlement amount expected between $1,141.70 and $1,166.70 per $1,000 face amount. If the final level is below the buffer, holders lose exposure below the buffer at approximately 1.1429% of face for each 1% decline below the buffer and could lose their entire investment. The estimated initial value on the trade date is expected to be between $968.00 and $998.00 per $1,000 face amount; the issue price will exceed that estimated value. Terms and all numeric levels will be set on the trade date and are subject to completion and adjustment.