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

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Apollo Global Management common stock due June 2, 2028. The Notes pay periodic contingent coupons only when 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, principal is repaid at maturity only if the final level is at or above the downside threshold; if below, repayment equals $10 x (1 + underlying return), exposing investors to losses up to the full principal. Payments depend on UBS’s creditworthiness. The Notes are offered in minimum increments of 100 Notes at $10 per Note; the estimated initial value on the trade date was $9.74. Key dates: trade date May 29, 2026, settlement June 2, 2026, final valuation date May 31, 2028, maturity June 2, 2028.

UBS AG priced a preliminary offering document for Trigger Autocallable Contingent Yield Notes linked to the common stock of Apollo Global Management, Inc. The notes mature on June 2, 2028, carry contingent coupons and an automatic‑call feature, and repay principal at maturity only if the final level meets the downside threshold.

The trade date is May 29, 2026 with expected settlement on June 2, 2026. Notes are offered in $10 denominations with a minimum $1,000 investment; estimated initial value is between $9.39 and $9.64 per Note. Payments, including principal, depend on UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Lam Research Corporation stock due June 2, 2028. Each Note has a $10 principal amount and may pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates. The Notes will be automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date; a call triggers payment of principal plus any contingent coupon then due. If not called, repayment at maturity depends on the final level relative to a downside threshold: if the final level is below the downside threshold you may receive less than principal, potentially losing a substantial portion or all of your investment. Payments are subject to UBS credit risk. The Notes have an estimated initial value of $9.80 and are offered in minimum increments of 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets or exceeds a coupon barrier and may be automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment is reduced proportionally to the underlying return and you could lose a significant portion or all of your investment. Trade date is May 29, 2026, expected settlement June 2, 2026, final valuation date May 28, 2027, and maturity June 2, 2027. The Notes are unsecured obligations of UBS AG, carry issuer credit risk, have a minimum purchase of 100 Notes at $10 per Note, and had an estimated initial value of $9.72 as of the trade date.

UBS AG priced a preliminary offering for Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation, with a trade date of May 29, 2026, expected settlement on June 2, 2026 and maturity on June 2, 2028. The Notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates and are automatically called if the underlying equals or exceeds the initial level on any observation date prior to maturity. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the disclosed downside threshold; otherwise repayment is reduced pro rata to the underlying return and investors can lose a substantial portion or all principal. Estimated initial value at issuance is between $9.43 and $9.68 per $10 Note; minimum investment is 100 Notes ($1,000). The Notes are unsecured obligations of UBS and any payments depend on UBS creditworthiness.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc. The trade date is May 29, 2026, expected settlement June 2, 2026, final valuation May 28, 2027 and maturity June 2, 2027.

The Notes pay a contingent coupon only if the underlying closing level on an observation date meets or exceeds the coupon barrier; they autocall early if the underlying meets or exceeds the initial level on any observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold, exposing investors to the underlying's negative return and UBS credit risk. The Notes are offered in $10 denominations with a minimum purchase of 100 Notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. common stock that mature on June 2, 2028. The Notes pay a contingent coupon on each coupon payment date only if the underlying stock's closing level on the applicable observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early if the underlying's closing level on any observation date prior to the final valuation date is at or above the initial level, in which case UBS will pay principal plus any contingent coupon due on the call settlement date. If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold you receive the $10 principal per Note; if the final level is below the downside threshold you receive $10 × (1 + Underlying Return), which can result in a substantial loss or a total loss of principal. Payments are subject to UBS credit risk. Trade date is May 29, 2026, settlement expected June 2, 2026, final valuation date May 31, 2028, maturity June 2, 2028. The estimated initial value was $9.78 per Note and minimum investment is 100 Notes at $10 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes have a principal amount of $10 per Note, a trade date of May 29, 2026, expected settlement on June 2, 2026, a final valuation date of May 31, 2028 and a maturity date of June 2, 2028. The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds the coupon barrier on observation dates; they are automatically called early if the underlying closes at or above the initial level on any prior observation date. If not called and the final level is below the downside threshold, principal repayment at maturity is contingent and may reflect the underlying return, which could result in significant loss or complete loss of principal. The estimated initial value range as of the trade date is $9.44 to $9.69 per Note and the example contingent coupon rate shown is 22.68% per annum (contingent coupon of $0.567 on a $10 Note). Any payments depend on UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Boston Scientific common stock due June 2, 2027. The Notes pay a contingent coupon only when the underlying closing level meets or exceeds a coupon barrier on observation dates and can be automatically called early if the underlying equals or exceeds the initial level on any prior observation date. If not called, principal repayment at maturity depends on the final level relative to a downside threshold; if the final level is below that threshold, investors suffer a loss equal to the underlying return and could lose their entire principal. The Notes have a principal amount of $10 per Note, an estimated initial value of $9.56 on the trade date, and are unsecured obligations of UBS subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Boston Scientific Corporation due on or about June 2, 2027. The preliminary pricing supplement dated May 29, 2026 describes notes that may pay periodic contingent coupons if the underlying stock meets barrier tests on observation dates and that may be automatically called early if the underlying equals or exceeds the initial level on an observation date. The notes repay principal at maturity only if the final level is at or above the disclosed downside threshold; otherwise principal repayment is reduced proportionally to the underlying return. Trade date is May 29, 2026 with expected settlement June 2, 2026. The notes are unsecured obligations of UBS and any payment depends on UBS creditworthiness. The preliminary document gives an estimated initial value range of $9.30 to $9.55 per $10 Note and a minimum purchase of 100 Notes.

UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. The notes have a $1,000 principal per note, an 11.50% contingent coupon rate (per annum) for the Nasdaq-100 line shown, a 15.00% buffer, monthly observation dates, and an issuer call feature beginning after three months. Trade date is expected to be June 1, 2026, settlement June 4, 2026, final valuation November 29, 2027 and maturity December 2, 2027. Contingent coupons are payable only if the closing level of each underlying asset is at or above its coupon barrier on an observation date; otherwise no coupon is paid. If UBS does not call the notes and the final level of any underlying asset is below its downside threshold, the payment at maturity will reflect the loss of the least performing underlying asset in excess of the buffer; in extreme cases an investor could lose almost all principal. The estimated initial value is between $959.00 and $989.00. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the EURO STOXX 50®, Russell 2000® and Nasdaq-100, due on or about June 10, 2031. The Notes pay a contingent coupon of 12.25% per annum on applicable coupon dates only if each underlying closing level equals or exceeds its coupon barrier; otherwise no coupon is paid. UBS may call the Notes in whole on scheduled observation dates; if not called, principal repayment at maturity depends on the final levels relative to downside thresholds (60% of initial level). The issue price is $1,000 per Note and the estimated initial value range is $961.10–$991.10 as of the trade date. These Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk. The Notes will not be listed on an exchange. Please review the "Key Risks" and product supplement for full terms.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100® with maturity June 2, 2031. The offering totals $786,000 at an issue price of $1,000 per Note and an estimated initial value of $989.20 per Note. Notes pay a monthly contingent coupon of 11.50% per annum only when each underlying index meets its coupon barrier on an observation date; UBS may call the Notes monthly beginning after ~3 months. At maturity, principal is repaid only if each final level is at or above its downside threshold (70.00% of initial level); otherwise repayment is reduced proportionally to the worst-performing index and investors may lose a significant portion or all principal. Payments are subject to UBS credit risk and the Notes are not exchange-listed.

UBS AG offers $1,758,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, the Russell 2000® and shares of the State Street® Utilities Select Sector SPDR® ETF, maturing June 2, 2031. The notes pay a contingent coupon of 10.80% per annum on scheduled coupon payment dates only if each underlying meets its coupon barrier; otherwise no coupon is paid. UBS may call the notes monthly (beginning after six months). At maturity, if any underlying’s final level is below its 70.00% downside threshold you may receive less than principal, potentially losing a significant portion or all of your investment. The estimated initial value per note was $986.80, and the issue price per note is $1,000.00, with proceeds to UBS of $995.00 per note.

The issuer, UBS AG, is offering Step Down Trigger Autocallable Notes linked to the least performing of the Russell 2000® and the EURO STOXX 50® with an expected term of approximately five years and quarterly observation dates. The notes pay no interest and may be automatically called on observation dates if both underlyings meet call threshold levels; call prices rise over time. If not called, principal repayment at maturity depends on the final level of the least performing underlying relative to its 75.00% downside threshold, and investors can lose a significant portion or all of their principal. Payments depend on UBS creditworthiness. The estimated initial value range is $934.20–$964.20; issue price is $1,000 per note.

UBS AG is offering $33,193,000 of Airbag Autocallable Contingent Yield Notes linked to the S&P 500® Index due May 31, 2030. The Notes pay a contingent coupon of 8.53% per annum on specified observation dates only if the index is at or above the coupon barrier and are callable semiannually beginning after 12 months.

If not called, principal repayment at maturity is contingent: full principal is returned only if the final index level is at or above the downside threshold (80.00% of the initial level). If the final level is below that threshold, investors bear leveraged downside exposure of 1.25 for each 1.00 decline beyond the 20.00% threshold and could lose all principal. Payments depend on UBS creditworthiness. The estimated initial value per Note was $981.50.

UBS AG is offering $44,792,210 in Trigger Callable Contingent Yield Notes due August 30, 2029. The Notes pay a 12.25% per annum contingent coupon for an observation period only if each of the Nasdaq-100, Russell 2000 and S&P 500 closing levels meet specified coupon barriers on every trading day of that period. UBS may call the Notes quarterly; if not called, principal repayment at maturity is contingent: if the final level of any underlying is below its downside threshold, repayment will reflect the negative return of the least performing underlying asset and could result in substantial loss or total loss of principal. The Notes have a $10 issue price per Note, an estimated initial value of $9.90 as of the trade date, and are unsecured obligations subject to UBS credit risk.

UBS AG is offering Phoenix Autocallable Buffer Notes with Memory Interest linked to the common stock of Zscaler, Inc. (ticker ZS). Each Note has a $10,000 principal amount, a contingent interest payment of $914.75 per interest payment date when specified price conditions are met, and a maturity of June 15, 2027. The notes pay contingent, non‑guaranteed interest if the underlying meets the interest barrier on observation dates, are automatically callable if the underlying equals or exceeds the initial price on any autocall observation date, and pay either cash principal at maturity if the final price is at or above the downside threshold or a pre‑calculated share delivery amount (which may be worth significantly less than principal) if the final price is below that threshold. The initial price observed on the strike date was $130.04, with a downside threshold and interest barrier equal to $104.03 (80% of the initial price). The estimated initial value range on the trade date was $9,500.00–$9,800.00, below the issue price. The notes are unsecured obligations of UBS and payments are subject to UBS credit risk.

UBS AG is offering Phoenix Autocallable Buffer Notes with Memory Interest linked to Freeport-McMoRan Inc. (FCX). Each Note has a principal amount of $1,000, a contingent interest payment of $15.80 per interest payment date if observation-date conditions are met, and a term to maturity of approximately 12 months (strike date May 28, 2026, valuation date May 28, 2027, maturity June 3, 2027).

The Notes are automatically callable if the closing price of FCX on any autocall observation date is equal to or greater than the initial price. If not called, principal repayment at maturity is contingent: if the final price is below the downside threshold ($46.11, equal to 70.00% of the initial price), holders receive a cash equivalent calculated from a share-delivery formula, which may be worth less than principal. Payments are subject to UBS credit risk. The estimated initial value range was $966.00 to $996.00.

UBS AG London Branch is offering Capped Leveraged Buffered Basket-Linked Medium-Term Notes. The notes (face amount $1,000 each; aggregate offered $1,804,000) trade on May 27, 2026, settle June 1, 2026 and mature on October 8, 2027. Payment at maturity is tied to an unequally-weighted basket of five indices with an upside participation rate of 170.00%, a cap level of 113.90% of the initial basket level and a buffer level of 87.50%. If the final basket level ≥ cap, the maximum settlement amount is $1,236.30 per $1,000 face amount. If final basket level declines by ≤12.50% you receive the face amount; declines beyond 12.50% result in leveraged losses (~1.1429% of face per 1% below the buffer). The estimated initial value on the trade date was $996.80 per $1,000 face amount. These notes do not pay interest, are unsecured obligations of UBS and involve issuer credit risk and limited liquidity.

UBS AG is offering Capped GEARS linked to the Russell 2000® Index with a total issue price of $9,068,050 at $10.00 per Security. The Securities mature on July 29, 2027 and pay at maturity based on the underlying return multiplied by an upside gearing of 3.00, capped at a maximum gain of 22.05% (maximum payment per Security $12.205). If the underlying return is negative, holders suffer the full downside of the Russell 2000® Index; the principal is repaid only at maturity and is subject to UBS credit risk. The estimated initial value was $9.794 per Security as of the trade date.

UBS AG is offering $3,990,000 in Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. The Notes have a principal amount of $1,000 per Note and mature on June 1, 2029 unless UBS elects to call them earlier.

The Notes pay periodic contingent coupons only if each underlying index closes at or above its coupon barrier on each coupon observation date; otherwise no coupon is paid. If not called, principal is repaid at maturity only if each final level is at or above its 70% downside threshold; otherwise repayment is reduced in proportion to the decline of the least performing underlying asset. Payments are unsecured obligations of UBS and depend on UBS creditworthiness. The estimated initial value per Note on the trade date was $989.40.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the ordinary shares of Nu Holdings Ltd. that mature on June 1, 2028. The notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates; otherwise no coupon is paid.

The notes are subject to an automatic call on quarterly observation dates beginning about 12 months after issuance; an automatic call results in payment of the $10 principal per note plus any contingent coupon then due. If not called, repayment at maturity depends on the final level versus a downside threshold (example: $70.00, 70% of initial level), and principal may be reduced proportionally to the underlying return. All payments are subject to the creditworthiness of UBS. The offering notes an estimated initial value of $9.75 per note and a minimum purchase of 100 notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Constellation Energy Corporation stock. Each Note has a $10 principal amount, a trade date of May 28, 2026, expected settlement June 1, 2026, final valuation date May 30, 2028 and maturity June 1, 2028.

The Notes pay periodic contingent coupons only if the underlying closing level on observation dates is at or above a specified coupon barrier. 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 the applicable contingent coupon on the call settlement date. If not called, repayment at maturity depends on the final level relative to a downside threshold: holders receive full principal only if the final level is at or above that threshold; otherwise, principal is reduced proportionally and a total loss of principal is possible. The estimated initial value as of the trade date was $9.80 and the Notes are sold in minimum increments of 100 Notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Spotify Technology S.A. The offering lists an aggregate reference of $220,000 for these structured notes with a principal amount of $10 per Note. Trade Date is May 28, 2026, Settlement Date June 1, 2026, Final Valuation Date May 30, 2029 and Maturity Date June 1, 2029.

The Notes pay periodic contingent coupons only if the underlying closing level on each observation date is at or above the coupon barrier; they are 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 returned if the final level is at or above the downside threshold; otherwise repayment is reduced in proportion to the underlying return and you could lose a significant portion or all of your investment. The estimated initial value on the trade date is $9.71 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Corning Incorporated common stock due June 1, 2029. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds a coupon barrier and are automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, principal is repaid at maturity only if the final level is equal to or greater than the downside threshold; if the final level is below the downside threshold, repayment is reduced in proportion to the underlying return and investors could lose a significant portion or all of their principal. The Notes are unsecured obligations of UBS and any payments depend on UBS’s creditworthiness. Trade date and settlement dates are May 28, 2026 and June 1, 2026; final valuation and maturity dates are May 30, 2029 and June 1, 2029. The minimum investment is 100 Notes at $10 per Note and the estimated initial value was $9.68 as of the trade date.

UBS AG priced a preliminary offering for Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation due on or about June 1, 2028. The notes pay contingent coupons only if the underlying stock meets coupon barriers on observation dates and may autocall early if the underlying equals or exceeds the initial level on an observation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if below, investors suffer a loss equal to the underlying return and could lose their entire investment. Trade date is May 28, 2026 with expected settlement on June 1, 2026. The notes are offered in $10 denominations with a minimum purchase of 100 notes and an estimated initial value range of $9.43 to $9.68 per note as of the trade date. All payments are subject to UBS credit risk.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the ordinary shares of Nu Holdings Ltd. The Trade Date is May 28, 2026, Settlement Date is June 1, 2026, Final Valuation Date is May 30, 2028 and Maturity Date is June 1, 2028.

The Notes have a $10 principal amount per Note, pay a contingent coupon only if the underlying closing level on an observation date is at or above a coupon barrier, and are automatically called if the underlying closes at or above the initial level on a quarterly observation date beginning after 12 months. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold and could result in loss of principal tied to the underlying return. Estimated initial value is between $9.45 and $9.70 per Note and the offering is subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Accenture plc due June 1, 2028. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and are automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, repayment at maturity is contingent: if the final level is at or above the downside threshold, principal ($10 per Note) is repaid; if below, repayment declines in proportion to the underlying return and investors may lose a significant portion or all of principal. The Notes are unsecured obligations of UBS and any payment depends on UBS’s creditworthiness. Trade Date is May 28, 2026, settlement June 1, 2026, final valuation date May 30, 2028, and maturity June 1, 2028. The estimated initial value on the trade date was $9.56.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Meta Platforms common stock due June 1, 2028. The Notes can 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 prior to maturity. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise principal is reduced proportionally to the decline in the underlying and you could lose all of your investment. Payments (including any principal) are subject to UBS credit risk. The Notes are offered in minimum increments of 100 Notes at $10 per Note and the estimated initial value per Note on the trade date was $9.79.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Spotify Technology S.A. The preliminary pricing supplement dated May 28, 2026 sets a $10 principal amount per Note, a trade date of May 28, 2026, settlement on June 1, 2026, a final valuation date of May 30, 2029 and a maturity date of June 1, 2029. The Notes pay periodic contingent coupons only if observation-date closing levels meet or exceed a coupon barrier and will be automatically called early if an observation-date closing level is at or above 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 you may suffer a loss of principal, potentially losing your entire investment. The preliminary range for the estimated initial value is $9.36–$9.61 per $10 Note and an illustrative contingent coupon rate shown is 17.64% per annum (contingent coupon of $0.441 per $10 under the hypothetical). All payments are subject to UBS credit risk.

UBS AG priced a preliminary prospectus supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Corning Incorporated, due on or about June 1, 2029. The notes pay a contingent coupon only if the underlying equity closes at or above a coupon barrier on observation dates and are automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is at or above the downside threshold; otherwise repayment is reduced pro rata to the underlying return, potentially resulting in total loss. Trade date is May 28, 2026 with settlement expected June 1, 2026. The notes are unsecured obligations of UBS and any payments depend on UBS creditworthiness. The document shows an illustrative contingent coupon rate of 21.26% per annum, a principal denomination of $10 per note, an estimated initial value range of $9.31–$9.56, and a minimum purchase of 100 notes ($1,000).

UBS AG is offering $710,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation due June 1, 2028. The Notes pay a contingent coupon only when the underlying closing level on an observation date is at or above the coupon barrier and will be automatically called early if the underlying closes at or above the initial level on any pre-maturity observation date.

If not called, repayment at maturity depends on the final level versus a downside threshold: if the final level is below the downside threshold, principal repayment is reduced proportionally to the underlying return and you may lose a significant portion or all of your investment. All payments are subject to UBS credit risk. Trade date is May 28, 2026, final valuation date is May 30, 2028 and maturity is June 1, 2028.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Accenture plc, with a trade date of May 28, 2026, expected settlement on June 1, 2026 and scheduled maturity on June 1, 2028. The Notes pay contingent coupons only when the underlying stock 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 an observation date. At maturity, if not called, principal repayment is contingent on the final level relative to a downside threshold, exposing holders to the underlying's negative return and possible loss of principal. The principal amount for examples is $10 per Note; an illustrative contingent coupon rate is 15.78% per annum and an illustrative downside threshold and coupon barrier are $60.00 (60.00% of initial level). Any payments depend on UBS’s creditworthiness. The document is a preliminary pricing supplement; final terms will be set on the trade date and the Offering Documents must be delivered in final form before any sale.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Meta Platforms, Inc. The preliminary pricing supplement sets key dates: Trade Date: May 28, 2026, Settlement Date: June 1, 2026, Final Valuation Date: May 30, 2028, and Maturity Date: June 1, 2028. The Notes pay periodic contingent coupons only if observation-date levels meet the coupon barrier, include an automatic call if the underlying equals or exceeds the initial level on an observation date, and feature contingent principal repayment at maturity tied to the final level versus a downside threshold. Minimum investment is 100 Notes ($1,000). The issuer’s credit risk applies to all payments. The estimated initial value on the trade date is shown as $9.45–$9.70 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to V.F. Corporation stock maturing June 1, 2027. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and will be automatically called early if the underlying equals or exceeds the initial level on any prior observation date. If not called, principal is repaid at maturity only if the final level is at or above a stated downside threshold; otherwise repayment at maturity is reduced proportionally to the underlying return and investors can lose a significant portion or all of principal. Payments depend on UBS's creditworthiness. Trade and settlement dates begin May 28, 2026 and June 1, 2026; final valuation and maturity fall in May–June 2027. The document discloses an estimated initial value of $9.68 per Note and a minimum investment of 100 Notes ($1,000).

UBS AG is marketing Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, due on or about June 1, 2028. The Notes pay contingent coupons only when the underlying closes at or above the coupon barrier on observation dates and are automatically called if the underlying closes at or above the initial level on any observation date prior to maturity. The Notes have a principal amount of $10 per Note, a minimum purchase of 100 Notes ($1,000), and an estimated initial value on the trade date of $9.44 to $9.69. Trade date and settlement are shown as May 28, 2026 and June 1, 2026, respectively. If the Notes are not called and the final level is below the downside threshold, investors will suffer a loss in principal equal to the underlying return and could lose their entire investment; all payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Microsoft Corporation common stock due June 1, 2027. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds the coupon barrier. The Notes are automatically called early if the underlying closes at or above the initial level on any quarterly observation date beginning about six months after issuance; on an automatic call UBS pays principal plus any contingent coupon then due. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment at maturity may be less than principal, with losses equal to the underlying return (including possible total loss). Payments are subject to UBS credit risk. Key dates: trade date May 28, 2026, settlement June 1, 2026, final valuation May 27, 2027, maturity June 1, 2027. Minimum investment is 100 Notes ($1,000). The estimated initial value per Note is $9.71 as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of V.F. Corporation, with a trade date of May 28, 2026, expected settlement on June 1, 2026 and maturity on June 1, 2027. The Notes pay a periodic contingent coupon only if the closing level of the underlying meets or exceeds a coupon barrier on each observation date and will be automatically called early if the underlying equals or exceeds the initial level on any observation date prior to the final valuation date.

If the Notes are not called, principal is repaid at maturity only if the final level is at or above the disclosed downside threshold; otherwise, repayment at maturity is reduced pro rata by the underlying return and investors could lose a significant portion or all of their investment. Payments are subject to UBS creditworthiness. The preliminary estimated initial value range is $9.42 to $9.67 per Note and minimum purchase is 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation, maturing on or about June 1, 2027. The Notes pay periodic contingent coupons only if observation-date closing levels meet the coupon barrier and may be automatically called quarterly beginning after six months if the underlying closes 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 principal repayment declines pro rata with the underlying return, potentially producing significant losses. The Notes are unsecured obligations of UBS AG, not FDIC insured, and any payment depends on UBS creditworthiness. Trade date and settlement are expected to be May 28, 2026 and June 1, 2026, respectively.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc. The Notes mature on June 1, 2028 with a final valuation date of May 30, 2028 and are issued in minimum increments of 100 Notes at $10 per Note. The offering size shown is $300,000. The Notes pay a contingent coupon on scheduled coupon payment dates 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 underlying closing level on any observation date prior to the final valuation date is at or above the initial level, in which case investors receive principal plus any contingent coupon due on the related call settlement date. If not called and the final level is below the downside threshold, principal repayment at maturity is reduced proportionally to the underlying return and investors could lose a substantial portion or all of their investment. Payments are subject to the creditworthiness of UBS. The estimated initial value as of the trade date is $9.80.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Freeport-McMoRan Inc. stock due June 1, 2029. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates; otherwise no coupon is paid.

The Notes feature an automatic call if the underlying closes at or above the initial level on any observation date, in which case UBS will repay 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, and investors may suffer losses up to the full principal; all payments are subject to UBS credit risk.

UBS AG offers Airbag Autocallable Yield Notes linked to NVIDIA common stock due December 1, 2026. Each Note has a $1,000 principal amount and pays a coupon on each coupon payment date unless the Notes are automatically called. The issuer will automatically call the Notes early if the closing level of NVIDIA on any observation date is equal to or greater than the initial level; in that case investors receive the principal plus the coupon on the corresponding coupon payment date. If not automatically called, repayment at maturity depends on the final level relative to a conversion level: if the final level is at or above the conversion level, UBS will repay principal plus coupon; if below, UBS will deliver a share delivery amount (principal divided by the conversion level) of NVIDIA shares per Note, potentially resulting in a loss of some or all principal. All payments are subject to UBS credit risk. Trade date is May 28, 2026, settlement June 1, 2026, final valuation date November 27, 2026 and maturity December 1, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Vistra Corp. common stock due June 1, 2029. The Notes pay periodic contingent coupons only when the underlying closing level meets the coupon barrier and may be automatically called quarterly if the underlying equals or exceeds 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, investors can suffer a loss equal to the underlying return, including the possibility of losing the entire principal. Payments are subject to UBS credit risk. The Notes are offered in $10 increments with an estimated initial value of $9.70 per Note and a minimum purchase of 100 Notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc. The preliminary pricing supplement dated May 28, 2026 sets a trade date of May 28, 2026, expected settlement June 1, 2026, final valuation date May 30, 2028 and maturity June 1, 2028. Each Note has a principal amount of $10. The Notes may pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on an observation date. If not called and the final level is below the downside threshold, repayment at maturity may be less than principal, potentially resulting in substantial loss or total loss of the investment. Estimated initial value as of the trade date is between $9.44 and $9.69. Minimum investment is 100 Notes ($1,000).

UBS AG offers $400,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company due June 1, 2027. 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 an observation date.

If the Notes are 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 the cash payment at maturity will be reduced proportionally to the underlying return and could result in a substantial or total loss of principal. Payments are subject to UBS credit risk. Trade date is May 28, 2026, settlement June 1, 2026, final valuation date May 27, 2027, and maturity June 1, 2027.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc. The preliminary pricing supplement dated May 28, 2026 sets a trade date of May 28, 2026, expected settlement on June 1, 2026, a final valuation date of May 30, 2029, and maturity on June 1, 2029.

The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates; they are automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold, with the potential for partial or total loss of principal. The examples show a $10 principal, a hypothetical 20.05% contingent coupon rate (contingent coupon $0.5013 per $10 note) and a downside threshold of $70.00 (70% of the initial level). The estimated initial value is between $9.33 and $9.58 per Note. Payments are subject to the creditworthiness of UBS and the final terms will be set on the trade date.

UBS AG priced a preliminary pricing supplement for Airbag Autocallable Yield Notes linked to the common stock of NVIDIA Corporation due on or about December 1, 2026. The notes pay a coupon on each coupon payment date unless the notes are automatically called following an observation date. If automatically called, holders receive principal plus coupon on the related coupon payment date. If not called, maturity payment depends on the final level versus the conversion level: either cash principal plus coupon or delivery of shares (the share delivery amount), which can result in a loss of some or all principal. Trade date and settlement are May 28, 2026 and June 1, 2026. The document discloses an illustrative principal amount per note of $1,000, an illustrative coupon example of 11.86% per annum (approximately $29.65 quarterly), and an estimated initial value range of $959.60 to $984.60. Payments and deliveries are subject to UBS creditworthiness. The final terms, including conversion level and exact coupon, will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp. The preliminary pricing supplement dated May 28, 2026 sets a trade date of May 28, 2026, expected settlement on June 1, 2026, a final valuation date of May 30, 2029, and a maturity date of June 1, 2029.

The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates and are subject to an automatic call if the underlying equals or exceeds 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 is reduced pro rata and could result in a full loss of principal. The Notes have a principal amount of $10 per Note and an estimated initial value range of $9.33 to $9.58 on the trade date as calculated by UBS’ internal models.