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

UBS AG is offering Trigger Callable Contingent Yield Notes due on or about June 17, 2030. The Notes pay a contingent coupon only if each underlying (Nasdaq-100 Technology Sector, Russell 2000, Dow Jones Industrial Average) meets its coupon barrier on an observation date; UBS may call the Notes monthly beginning ~3 months after issue. Principal repayment at maturity depends on the least performing underlying relative to a 60.00% downside threshold; if that underlying finishes below its threshold you may incur a loss up to and including the full principal amount. The preliminary estimated initial value is $951.70–$981.70 and the issue price is $1,000.00 per Note. The underwriting discount is up to $9.50 per Note. These Notes are unsecured obligations of UBS and payments are subject to UBS credit risk; detailed risks and final terms will appear in the final pricing supplement.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000®, S&P 500® and EURO STOXX 50®. Trade date is June 5, 2026, settlement June 10, 2026, and maturity is December 10, 2029. The Notes pay a contingent coupon only for an observation period if each underlying index closes at or above its coupon barrier on every trading day; otherwise no coupon accrues. The Notes are issuer-callable on quarterly observation end dates; if called UBS will pay principal plus any contingent coupon due on the call settlement date. At maturity, if any underlying index is below its downside threshold the payment may be less than principal and can result in total loss tied to the least performing underlying asset. Issue price per Note is $10.00; estimated initial value range is $9.525–$9.825. Investing involves market risk of each underlying index and credit risk of UBS.

UBS AG is offering UBS AG Phoenix Autocallable Buffer Notes with Memory Interest linked to the common stock of Freeport-McMoRan Inc. The Notes are issued in $1,000 denominations and pay a contingent interest of $17.6667 per Note on each interest payment date if the underlying meets the interest barrier.

The initial price of the underlying was $69.69 (the strike date). The downside threshold and interest barrier are $48.78 (70.00% of the initial price). The Notes mature on June 9, 2027, are automatically callable monthly if the underlying equals or exceeds the initial price, and at maturity may pay a cash equivalent based on a share delivery amount formula if the final price is below the downside threshold. Payments depend on UBS creditworthiness. The issue price per Note is $1,000.00 and the estimated initial value range is $967.30–$997.30.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of XLP, the Russell 2000 Index and the Nasdaq-100 Technology Sector. The preliminary pricing supplement (dated June 5, 2026) describes Notes that pay a 13.60% per annum contingent coupon only if each underlying asset meets its coupon barrier on observation dates, are callable monthly by UBS beginning after ~6 months, and mature on or about December 17, 2030. If UBS does not call the Notes and the final level of any underlying asset is below its downside threshold (60.00% of initial level), principal repayment will be reduced proportionally to the loss of the least performing underlying asset; in extreme cases investors could lose all principal. The preliminary estimated initial value range is $958.60 to $988.60 per $1,000 Note; issue price is $1,000 with an underwriting discount of $5.00, leaving proceeds to UBS of $995.00 per Note.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100® Technology Sector, due on or about June 15, 2029. The notes pay a contingent coupon of 10.15% per annum when each underlying meets its coupon barrier on observation dates, are callable monthly by UBS beginning after ≈3 months, and repay principal at maturity only if each underlying is at or above its downside threshold. The estimated initial value is $953.00–$983.00 and the issue price is $1,000 per Note; underwriting compensation is up to $9.50 per Note and proceeds to UBS are at least $990.50. The notes are unsecured obligations of UBS and subject to UBS credit risk, market risk of the least performing underlying, limited upside (only contingent coupons), issuer call risk and potential loss of principal down to 0% tied to the least performing underlying.

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 pay a fixed contingent coupon only if each underlying asset meets 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, repayment at maturity depends on the least performing underlying asset relative to a 60.00% downside threshold, and principal may be partially or wholly lost. Trade date is June 12, 2026 with expected settlement June 17, 2026 and maturity June 17, 2031. Payments, including any principal repayment, are subject to UBS credit risk. The estimated initial value range is $957.40 to $987.40 per Note; issue price is $1,000.00 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes pay periodic contingent coupons only if the closing level of Micron meets or exceeds a coupon barrier on observation dates and may be automatically called early if Microns closing level on any prior observation date is equal to or greater than the initial level. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold; if the final level is below that threshold, repayment is reduced pro rata, and investors could lose a significant portion or all of their investment. Trade date is June 4, 2026, settlement June 8, 2026, final valuation date June 6, 2029, and maturity June 8, 2029. The Notes are unsecured obligations of UBS and any payments are subject to UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc. 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 of principal at maturity is contingent: if the final level is at or above the downside threshold the principal is repaid; if below, the cash payment at maturity will decline proportionally to the underlying return and could result in the loss of all principal. The Notes are unsecured obligations of UBS and any payment depends on UBS’s creditworthiness. Trade date is June 4, 2026, expected settlement June 8, 2026, final valuation date June 6, 2028, and maturity June 8, 2028. The estimated initial value on the trade date is $9.79 per Note and minimum investment is 100 Notes at $10 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. stock due on or about June 8, 2029. The Notes pay periodic contingent coupons only when the underlying stock closes at or above a coupon barrier on observation dates and are automatically called early if the stock 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 repaid only if the final level is at or above the downside threshold; otherwise principal is reduced pro rata to the underlying return, potentially causing substantial or total loss. Trade date is June 4, 2026 with settlement on June 8, 2026. The Notes have a $10 principal amount per Note, a minimum purchase of 100 Notes, and an estimated initial value range of $9.19 to $9.44 per Note as of the trade date. All payments are subject to UBS credit risk; the Notes will not be listed on an exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., with expected trade date June 4, 2026, settlement June 8, 2026 and maturity on or about June 8, 2028. Each Note has a principal amount of $10 and pays a contingent coupon only when the underlying closing level on observation dates is at or above the coupon barrier; otherwise no coupon is paid. The Notes may be automatically called early if the underlying closing level on an observation date is at or above the initial level, in which case UBS will pay 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, repayment at maturity will be reduced pro rata to the underlying return, and you could lose a significant portion or all of your investment. The estimated initial value range on the trade date is between $9.44 and $9.69, and any payment is subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Broadcom Inc. common stock due June 8, 2028. The Notes may pay periodic contingent coupons only if observation‑date closing levels meet a coupon barrier and may be automatically called if an observation date closing equals or exceeds the initial level. If not called, principal 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 pro rata to the underlying return, potentially resulting in significant or total loss of principal. Trade and settlement dates are June 4, 2026 and June 8, 2026. Minimum purchase is 100 Notes ($1,000). Payments and principal are subject to UBS credit risk. The estimated initial value is $9.57 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates and may be automatically called early if the stock closes at or above the initial level on any observation date. If not called, repayment of principal at maturity is contingent on the final stock level versus a downside threshold; if the final level is below that threshold, the cash payment at maturity will be reduced proportionally to the underlying return and you could lose a significant portion or all of your investment. The Notes are unsecured obligations of UBS and any payments depend on UBS's creditworthiness. Trade date: June 4, 2026; Settlement: June 8, 2026; Final Valuation Date: June 6, 2029; Maturity Date: June 8, 2029. The estimated initial value is $9.71 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates and can be automatically called early if the underlying reaches or exceeds the initial level on any observation date prior to the final valuation date. If not called and the final level is below the downside threshold, repayment at maturity may be less than the principal and can track the underlying’s negative return; in extreme cases you could lose your full principal. The Notes have a $10 principal amount per Note, an estimated initial value of $9.78, trade date June 4, 2026, settlement June 8, 2026, final valuation date June 6, 2028, and maturity June 8, 2028. All payments are subject to UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Broadcom Inc. common stock due December 8, 2027. The Notes pay periodic contingent coupons only if the underlying closing level on each 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. If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold you receive $10.00 per Note; if the final level is below the downside threshold you receive $10.00 x (1 + underlying return), which can result in a substantial loss or total loss of principal. Payments are subject to UBS credit risk. Trade date is June 4, 2026, settlement is June 8, 2026, final valuation date is December 6, 2027 and maturity is December 8, 2027. The estimated initial value per Note is $9.72 and Notes are sold in $10 increments with a minimum $1,000 investment.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc. The Notes pay a periodic contingent coupon only if the underlying closes at or above a coupon barrier on observation dates (quarterly, beginning ~6 months after trade). The Notes are automatically called if the underlying closes at or above the initial level on any observation date prior to the final valuation date; an automatic call results in a cash payment of principal plus any contingent coupon on the corresponding call settlement date. If not called, repayment at maturity is contingent: if the final level is at or above the downside threshold the principal is repaid; if the final level is below that threshold you may suffer a loss proportional to the decline in the underlying and could lose all principal. Trade date is June 4, 2026, expected settlement June 8, 2026, final valuation date June 6, 2028 and maturity June 8, 2028. The Notes have a minimum investment of 100 Notes at $10 per Note and an estimated initial value between $9.25 and $9.50 determined by UBS’ internal pricing models. Any payments are subject to UBS credit risk. This is a complex, principal-at-risk structured note; review the Key Risks and product supplement before investing.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The preliminary pricing supplement dated June 04, 2026 sets a trade date of June 4, 2026, expected settlement on June 8, 2026, a final valuation date of June 6, 2029 and a maturity date of June 8, 2029. Notes have a $10 principal amount per Note and pay contingent coupons only if the underlying stock closes at or above the coupon barrier on observation dates; they automatically call early if the underlying closes at or above the initial level on an observation date. 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 pro rata to the underlying return and you could lose a significant portion or all of your investment. The estimated initial value range on the trade date is $9.36 to $9.61, and an illustrative contingent coupon rate shown is 22.65% per annum (contingent coupon $0.5663 per $10 Note). The Notes are unsecured obligations of UBS and subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to CrowdStrike Holdings, Inc. stock due on or about June 8, 2028. The Notes pay periodic contingent coupons only if the underlying closes at or above 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. If not called, principal is protected at maturity only if the final level is at or above the stated downside threshold; otherwise repayment declines in direct proportion to the underlying return and you could lose all of your investment. The offering has a minimum investment of 100 Notes at $10 per Note; UBS estimates the initial value per Note between $9.43 and $9.68 as of the trade date. The trade date is June 4, 2026 with expected settlement on June 8, 2026. Investing involves significant credit risk of UBS and substantial market risk tied to the underlying stock.

UBS AG offers 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 can 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 below the downside threshold, you may receive less than the principal amount, with losses equal to the percentage decline in the underlying; in extreme cases you could lose all of your investment. Trade date is June 4, 2026, settlement June 8, 2026, final valuation date December 6, 2027, maturity December 8, 2027. Minimum investment is 100 Notes at $10 per Note.

UBS AG is offering $390,000 in Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. common stock due June 8, 2028. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets 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 which case holders receive principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent on the final level relative to the downside threshold; a final level below the downside threshold results in a cash payment that can be less than principal, potentially causing losses up to the full investment. The Notes have an estimated initial value of $9.81 per $10 Note and are unsecured obligations of UBS; all payments are subject to UBS's creditworthiness.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The notes have a Trade Date of June 4, 2026, Settlement Date June 8, 2026, a Final Valuation Date of June 6, 2028 and a Maturity Date of June 8, 2028.

The notes have a principal amount of $10 per note, a minimum purchase of 100 notes (a $1,000 minimum), and an estimated initial value per note of between $9.44 and $9.69 as of the trade date. They pay a periodic contingent coupon only if the underlying closing level meets the coupon barrier on observation dates and are automatically called if the underlying equals or exceeds the initial level on an observation date. If not called and the final level is below the downside threshold, principal repayment at maturity is reduced pro rata, potentially resulting in substantial or total loss of invested principal. All payments are subject to UBS credit risk.

UBS AG is offering $1,800,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of ServiceNow, Inc. The Notes pay contingent quarterly coupons only if the underlying closes at or above the coupon barrier on observation dates, are callable quarterly beginning about six months after issuance, and mature on June 8, 2029. Principal repayment at maturity is contingent: if the final level is below the downside threshold the cash payment per Note may be less than the $10 principal, producing a loss equal to the percentage decline in the underlying; in extreme cases you could lose your entire investment. The Notes have an estimated initial value of $9.67 per $10 Note, a minimum purchase of 100 Notes ($1,000), and payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Broadcom Inc. stock. The Notes mature on June 8, 2027 (final valuation June 4, 2027) and pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates. The Notes are automatically called early if the underlying closes at or above the initial level on any interim observation date, in which case holders receive principal plus any contingent coupon due on the related call settlement 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, holders suffer a loss equal to the underlying return and could lose all principal. The Notes are unsecured obligations of UBS and any payments, including principal, are subject to UBS's creditworthiness. The estimated initial value was $9.69 and the Notes are sold in minimum increments of 100 Notes (principal $10 per Note).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Lam Research Corporation stock that mature on June 8, 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 early if the underlying closes at or above the initial level on any 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; if below, repayment declines proportionally to the underlying return, potentially causing a partial or total loss of principal. Payments depend on UBS’s creditworthiness. The notes have a $10 principal per note, minimum purchase of 100 notes, an estimated initial value of $9.79, and settlement expected on June 8, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of ServiceNow, Inc. The Notes have a trade date of June 4, 2026, expected settlement on June 8, 2026, a final valuation date of June 6, 2029, and maturity on June 8, 2029. Each Note has a principal amount of $10 and a minimum purchase of 100 Notes (a $1,000 investment).

The Notes pay contingent coupons only when the underlying closing level meets or exceeds a coupon barrier on observation dates and are automatically called if the underlying closes at or above the initial level on any quarterly observation (beginning ~6 months). If not called and the final level is below the downside threshold, principal repayment at maturity is reduced proportional to the underlying return; extreme loss of the entire principal is possible. The preliminary estimated initial value per Note is between $9.29 and $9.54, and an illustrative contingent coupon rate shown is 22.31% per annum.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation, with trade date June 4, 2026, expected settlement June 8, 2026 and maturity on or about June 8, 2028. The Notes pay periodic contingent coupons only if the underlying stock meets a coupon barrier on observation dates and include an automatic call if the stock is at or above the initial level on any interim observation date. If not called and the final level is below a disclosed downside threshold, principal repayment at maturity is contingent and may result in partial or total loss of principal equal to the percentage decline in the underlying stock. The Notes are unsecured obligations of UBS and subject to UBS credit risk. Final terms, including exact coupon rate, barriers and estimated initial value, will be set on the trade date and disclosed in the final pricing supplement.

UBS AG proposes a structured note offering: Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc. The Notes have a trade date of June 4, 2026, expected settlement on June 8, 2026, a final valuation date of June 4, 2027, and expected maturity on June 8, 2027. Each Note has a principal amount of $10. The offering pays a contingent coupon only if the underlying stock closes at or above a coupon barrier on observation dates and includes an automatic call 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 will be reduced proportionally to the underlying return, potentially resulting in a total loss. The preliminary pricing indicates an example contingent coupon rate of 18.65% per annum, an example contingent coupon of $0.4663 per $10 Note, an estimated initial value range of $9.36 to $9.61, and a downside threshold and coupon barrier at 70% of the initial level. Any payments, including principal repayment, depend on UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to ServiceNow, Inc. The notes pay periodic contingent coupons only if the underlying stock closes at or above a stated coupon barrier on observation dates and may be automatically called early if the stock 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 will suffer a loss equal to the underlying return and could lose all of your initial investment. The notes are unsecured obligations of UBS and any payment is subject to UBS credit risk. Trade date is June 4, 2026; settlement June 8, 2026; final valuation date June 6, 2028; maturity June 8, 2028. The notes are offered in minimum increments of 100 notes at $10 per note and had an estimated initial value of $9.72 as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to ServiceNow, Inc. common stock with expected trade date June 4, 2026 and maturity on June 8, 2028. The Notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on any observation date. 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 principal is reduced pro rata to the underlying return, and investors could lose a significant portion or all of their investment. Payments are subject to UBS credit risk. The Notes have a minimum investment of 100 Notes ($1,000) and an estimated initial value range of $9.37 to $9.62 per $10 Note on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Amazon.com, Inc. common stock due on or about June 29, 2029. The Notes pay a periodic contingent coupon (10.50% per annum as shown on the cover) only if the underlying closing level meets or exceeds a coupon barrier on observation dates, include an automatic call if the underlying meets a call threshold on an observation date, and expose holders to contingent repayment of principal at maturity if the final level is below a downside threshold. The Notes are unsecured obligations of UBS and all payments, including any repayment of principal, are subject to UBS credit risk. The final terms (including the initial level and confirmed thresholds) and the estimated initial value will be set on the trade date.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the S&P 500® Index. The Notes have a principal amount of $1,000 per Note, an expected term of approximately 18 months and monthly observation dates (callable by UBS after three months). A contingent coupon of 10.15% per annum is payable on a coupon payment date only if the closing level of each underlying asset is at or above its coupon barrier on the related observation date. If UBS calls the Notes early, holders receive principal plus any contingent coupon otherwise due on the call settlement date. If UBS does not call the Notes and any underlying asset finishes below its downside threshold (specified as 65.00% of its initial level on the cover), the maturity payment will be reduced by the negative return of the least performing underlying asset, potentially resulting in a substantial or complete loss of principal. The estimated initial value range on the trade date is $965.60–$995.60. All payments are subject to UBS credit risk.

UBS AG is offering unsubordinated, unsecured Tracker Notes linked to an unequally weighted basket of 27 equity securities due on or about June 10, 2027. Each Note has a $10.00 principal amount, an issue price of $10.15 (including an upfront fee of 1.50% or $0.15), and a minimum investment of 100 Notes ($1,000). The payment at maturity equals $10 × (1 + Underlying Return) and may be less than the issue price because the upfront fee is not included in the maturity calculation; in extreme cases you could lose your entire investment. The Notes pay no interest, are not listed, and repayment is subject to UBS credit risk. Trade, settlement, final valuation and maturity dates are set on the cover with an expected trade date of June 5, 2026, settlement June 9, 2026, final valuation June 7, 2027, and maturity June 10, 2027.

UBS AG is offering Tracker Notes linked to an unequally weighted basket of 30 U.S. and non-U.S. equity securities, maturing on June 10, 2027. Each Note has a $10.00 principal amount, an issue price of $10.15 (including an upfront fee of 1.50%, or $0.15) and a minimum investment of 100 Notes ($1,000).

Payment at maturity, if any, equals $10 × (1 + underlying return), where the underlying return is the net percentage change in the basket from initial level (set to 100.00 on the trade date) to the final underlying level. The upfront fee reduces return potential; holders can lose some or all of their initial investment if the underlying return is insufficient or negative. All payments are subject to UBS’s creditworthiness. Trade date, settlement date, final valuation date and expected maturity are listed in the Preliminary Terms.

UBS AG is offering unsubordinated, unsecured Tracker Notes linked to an unequally weighted basket of 45 U.S. and non-U.S. equities with a term of approximately 12 months. Each Note has a $10.00 principal and is offered at an issue price of $10.15, which includes an upfront fee of 1.50% ($0.15).

The cash payment at maturity per Note equals $10 × (1 + Underlying Return), so positive underlying returns must exceed the upfront fee for a net gain. The Notes pay no interest, are unsecured obligations of UBS and are subject to UBS credit risk; in extreme cases investors could lose their entire investment. Key dates include an expected trade date of June 5, 2026, settlement on June 9, 2026, a final valuation date of June 7, 2027 and maturity on June 10, 2027.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Arista Networks, Inc. common stock. Each Note has a principal amount of $1,000, an expected term of approximately 18 months and quarterly observation dates. Holders may receive contingent coupons only if the underlying stock meets the coupon barrier on observation dates; the Notes may be automatically called if the stock meets the call threshold on an observation date. At maturity, if the final level is below the downside threshold, holders receive a share delivery amount (shares) whose value may be significantly less than principal. Payments depend on UBS creditworthiness.

UBS AG is offering Contingent Income Auto-Callable Securities due on or about June 15, 2029, linked to the Class A common stock of Alphabet Inc. The securities pay a contingent payment of $25.625 (equivalent to 10.25% per annum) on a determination date if the closing price is at or above the downside threshold level of 60.00% of the initial price and will be automatically redeemed early if the closing price meets or exceeds the call threshold level of 100.00% of the initial price on a determination date. If not redeemed early and the final price is below the downside threshold, holders receive a cash value equal to the exchange ratio times the final price and may lose a significant portion or all of their investment. The stated principal amount per security is $1,000.00. The pricing date is expected to be June 12, 2026 and the original issue date is expected to be June 17, 2026. Payments on the securities are unsecured obligations of UBS AG and are subject to UBS credit risk.

UBS AG is offering $2,812,000 of 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 $1,000 principal amount per Note and a contingent coupon of 11.80% per annum payable only if each underlying closes at or above its coupon barrier on an observation date.

The issuer may call the Notes in whole (monthly, beginning after ~3 months). At maturity the principal is repaid only if the final level of every underlying is at or above its 60.00% downside threshold; otherwise repayment is reduced in proportion to the decline of the least performing underlying (possible loss of all principal). The estimated initial value per Note was $987.70. Payments are subject to UBS credit risk and the Notes will not be exchange‑listed.

UBS AG is offering preliminary pricing for 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, due on or about May 12, 2028. The notes pay a contingent coupon only when each underlying asset meets its coupon barrier on an observation date and are callable monthly by UBS beginning after six months. At maturity, if any underlying asset’s final level is below its downside threshold (65% of initial level), principal repayment will be reduced pro rata to the decline of the least performing underlying asset; in extreme cases, investors can lose their entire principal. The preliminary estimated initial value range is $955.10–$985.10 and the example contingent coupon shown is 11.15% per annum. Underwriting compensation may be up to $7.25 per Note, and proceeds to UBS are shown as at least $992.75 per Note. The notes are unsecured obligations subject to UBS credit risk; they will not be listed on an exchange and secondary market liquidity may be limited.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector and the Russell 2000® Index, with monthly observation dates, an issuer call beginning after three months and an expected maturity on or about May 11, 2028. The notes pay a contingent coupon only when each underlying's closing level meets its coupon barrier; principal repayment at maturity is conditional on the final level of each underlying being at or above its downside threshold (70% of initial level). The preliminary contingent coupon rate shown is 12.85% per annum and the issue price is $1,000.00 per note. The estimated initial value range is $957.50 to $987.50. The notes are unsecured obligations of UBS, not FDIC insured, and subject to UBS credit and FINMA restructuring risks.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Nasdaq-100® and Russell 2000® indices, due on or about June 9, 2028. The notes pay a 13.00% per annum contingent coupon (payable only if each underlying meets its coupon barrier on an observation date) and are issuer-callable monthly beginning after three months. If not called, principal is repaid at maturity only if each final level is at or above its downside threshold (each set at 70.00% of its initial level); otherwise repayment at maturity will be reduced proportionally to the decline of the least performing underlying asset and could result in total loss. Issue price is $1,000.00 per note with an estimated initial value between $965.00 and $995.00. All payments are subject to UBS credit risk and the notes will not be listed on an exchange.

UBS AG offers $1,880,000 of 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 11.40% per annum only if each underlying asset meets its coupon barrier on an observation date. UBS may call the Notes monthly beginning after three months; if not called, principal is repaid at maturity only if each underlying asset is at or above its 65.00% downside threshold. If any underlying asset finishes below its downside threshold, holders suffer a principal decline equal to the percentage decline of the least performing underlying asset, possibly losing the entire investment. The estimated initial value per Note on the trade date was $988.00 and the issue price is $1,000.00 per Note. All payments depend on UBS creditworthiness and the Notes will not be listed on an exchange.

UBS AG offers $3,339,000 of Trigger Callable Contingent Yield Notes due May 8, 2028, linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and shares of the State Street Technology Select Sector SPDR ETF. The Notes pay a contingent coupon of 13.85% per annum only when each underlying asset meets its coupon barrier on an observation date. UBS may call the Notes monthly beginning after three months. If not called, principal is repaid at maturity only if each final level is at or above its downside thresholds (70% of initial levels); otherwise repayment is reduced pro rata by the percentage decline of the least performing underlying asset. The estimated initial value on the trade date was $983.80 per $1,000 Note. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk.

UBS AG is offering Buffer Callable Contingent Yield Notes due June 8, 2029, linked to the least performing of the Russell 2000® Index and the S&P 500® Index. Each $1,000 Note pays a contingent quarterly coupon of $20.75 (an 8.30% per annum rate) only if both indices meet coupon barriers on each observation date. The Notes feature a 30.00% buffer and downside thresholds equal to 70.00% of the initial levels (Russell 2000 initial 2,931.963; S&P 500 initial 7,609.78). UBS may call the Notes on any observation date (other than the final valuation date); if not called, repayment at maturity can be less than principal when the least performing index falls below its downside threshold. Payments (including principal) are unsecured obligations of UBS and depend on UBS creditworthiness.

UBS AG is offering Capped Market-Linked Notes linked to the S&P 500® Index with a maximum gain of 6.45% and a maximum payment at maturity of $1,064.50 per $1,000 Note. The preliminary terms set the principal at $1,000 per Note, an expected term of approximately 13 months, an expected trade date of June 5, 2026, settlement on June 10, 2026, final valuation on July 6, 2027 and maturity on July 9, 2027.

The payment at maturity equals principal plus the lesser of the underlying return and the maximum gain if the S&P 500® Index return is positive; if the underlying return is zero or negative, holders receive only principal at maturity. Payments are subject to UBS credit risk. The issue price includes an underwriting discount of $6.00 per Note, with proceeds to UBS shown as $994.00 per Note. The estimated initial value range is $961.00 to $991.00 as of the trade date per UBS’ internal pricing models. This document is a preliminary pricing supplement and the final terms will be set on the trade date.

UBS AG is offering $5,600,000 of Barrier Market Linked Notes with Daily Barrier Observation linked to the spot price of gold. The Notes pay no interest, have a $1,000 principal per Note and mature on December 7, 2027. Payouts depend on whether the spot price of gold breaches an upper barrier equal to the initial price plus 30.00%. If a barrier event occurs on any trading day during the observation period, holders receive principal plus a 5.00% conditional return. If no barrier event occurs, upside is limited to a 30.00% maximum gain, and holders receive either the underlying return (capped) or only principal if the final price is at or below the initial price. All payments, including principal, are subject to UBS’s creditworthiness. The estimated initial value per Note on the trade date was $976.50.

UBS AG is offering $3,289,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and Dow Jones Industrial Average, due May 8, 2028. The Notes pay a contingent coupon of 10.90% per annum on coupon payment dates only if each underlying closes at or above its coupon barrier on the applicable observation date. UBS may call the Notes monthly beginning after six months; if called you receive principal plus any contingent coupon then due. If not called and any underlying’s final level is below its downside threshold (70.00% of its initial level), maturity payment will be reduced in proportion to the percentage decline of the least performing underlying asset, and you could lose a significant portion or all of your investment. The estimated initial value as of the trade date is $988.00 and the issue price is $1,000.00 per Note. All payments are subject to UBS’s creditworthiness; the Notes will not be listed on an exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Meta Platforms, Inc. stock, with a contingent coupon of 12.65% per annum and a term to approximately June 15, 2029. The notes are callable quarterly beginning after six months if the underlying meets the call threshold; otherwise principal repayment at maturity is contingent on the final closing level relative to a 70.00% downside threshold. The issue price is $1,000.00 per Note and the estimated initial value is stated between $946.00 and $976.00. Payments, including contingent coupons and any principal, are subject to UBS credit risk. The final terms will be set on the strike date and reflected in the final pricing supplement.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500 Index, the Russell 2000 Index and the Nasdaq-100 Technology Sector. The notes pay a contingent coupon only when each underlying meets its coupon barrier on observation dates, are issuer-callable monthly beginning after ~3 months and mature on or about May 17, 2028. The notes repay principal at maturity only if every underlying is at or above its downside threshold; otherwise repayment is reduced in line with the percentage decline of the least performing underlying asset. The preliminary contingent coupon rate shown is 12.30% per annum, the hypothetical per-note principal is $1,000, and the estimated initial value range is $956.70 to $986.70 as of the trade date. The offering includes underwriting compensation (up to $7.25 per note) and indicates minimum proceeds to UBS of at least $992.75 per note. The notes are unsecured obligations of UBS and are subject to UBS credit risk, limited liquidity (not exchange-listed) and material downside exposure tied to the least performing underlying asset.

UBS AG assumed Credit Suisse’s obligations under a class of exchange‑traded notes (ETNs) following the December 7, 2023 merger agreement and the May 31, 2024 registration of the Merger. UBS expressly assumed Credit Suisse’s rights and obligations under the Senior Indenture, renamed the notes “ETRACS Silver Shares Covered Call ETNs due April 21, 2033,” and designated its London Branch to act under the ETNs. The pricing supplement describes 4,000,000 ETNs (stated principal amount denomination now $400.00 each after a prior 1‑for‑20 reverse split), a maturity date of April 21, 2033, an Investor Fee Rate of 0.65% (Daily Investor Fee), an Early Redemption Charge of 0.125%, and that the Index Sponsor/Calculation Agent is Nasdaq, Inc.

UBS AG offers Airbag Autocallable Yield Notes linked to Take-Two Interactive common stock with a final maturity of June 7, 2027. The Notes pay a stated coupon each payment date unless automatically called and are unsecured obligations of UBS.

The Notes are subject to an automatic call if the underlying's closing level on any observation date before the final valuation date is equal to or greater than the initial level. If called, UBS will pay principal plus the coupon on the related coupon payment date. If not called, repayment at maturity depends on the final level relative to a conversion level: UBS will repay principal in cash if the final level is at or above the conversion level; otherwise investors receive a share delivery amount of Take-Two stock (plus cash for fractional shares), which may be worth less than principal. Trade and settlement dates are June 3, 2026 and June 5, 2026, respectively; the final valuation date is June 3, 2027.