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

UBS AG is offering $1,576,000 of 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, maturing on June 1, 2029. The Notes pay a contingent coupon of 12.25% per annum only if the closing level of each underlying asset on an observation date is at or above its coupon barrier; otherwise no coupon is paid for that date. UBS may call the Notes in whole (but not in part) on monthly observation dates beginning after six months; if called you receive principal plus any contingent coupon due on the call settlement date. If not called, principal repayment at maturity is contingent on the final levels: full principal is repaid only if each underlying asset is at or above its downside threshold; otherwise the cash payment equals $1,000 multiplied by (1 + underlying return of the least performing underlying asset), which can result in substantial principal loss, including total loss. The estimated initial value on the trade date was $986.70 versus the $1,000 issue price. Investments are subject to UBS credit risk, limited secondary market liquidity, issuer call risk, and index‑specific risks including sector and small‑cap exposure.

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. Each Note has a principal amount of $1,000, a contingent coupon paid only if both underlyings meet coupon barriers on observation dates, and a contingent principal repayment at maturity tied to the least performing underlying. The notes are callable by UBS (in whole, not in part) on monthly observation dates beginning after three months. If not called, repayment at maturity equals $1,000 if each underlying is at or above its downside threshold (70.00% of its initial level); otherwise the maturity payment equals $1,000 × (1 + underlying return of the least performing underlying asset), which could result in a substantial loss, including loss of all principal. Trade date is June 2, 2026, expected settlement June 5, 2026, final valuation May 2, 2028 and maturity May 5, 2028. The estimated initial value range is $957.70 to $987.70 per Note and the disclosed contingent coupon rate is 12.60% per annum. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index. The notes have a $1,000 principal per Note, a stated contingent coupon rate of 10.55% per annum, an expected trade date of June 12, 2026, settlement on June 17, 2026, and a maturity of June 17, 2030. Final terms will be set on the trade date and the notes are callable by UBS beginning after six months. The estimated initial value range is $960.60–$990.60 per Note; the issue price will exceed that estimated value. The notes pay contingent coupons only if each underlying meets coupon barriers on observation dates and expose holders to downside market risk of the least performing underlying asset, with principal repayment at maturity contingent on the final levels and subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of D.R. Horton, Inc. The Notes pay periodic contingent coupons only if the underlying stock meets a coupon barrier on observation dates and may be automatically called early if the stock meets a call threshold. At maturity holders receive principal in cash only if the final level is at or above the downside threshold; otherwise holders receive a share delivery amount that may be worth significantly less than principal, producing substantial loss. The trade date is May 29, 2026, settlement is June 3, 2026, and expected maturity is June 2, 2028. The issue price is $1,000 per Note and the estimated initial value range is $943.10 to $973.10. All payments depend on UBS creditworthiness.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of three indexes. The offering totals $550,000 at an issue price of $1,000.00 per Note with a contingent coupon rate of 11.45% per annum and a maturity date of June 1, 2029. The Notes pay contingent coupons only if each underlying index meets its coupon barrier on an observation date, are callable monthly by UBS beginning after approximately six months, and repay principal at maturity only if every underlying index is at or above its downside threshold; otherwise repayment is reduced pro rata to the least performing underlying asset, potentially to zero. The estimated initial value per Note at the trade date was $988.80, and payments are subject to UBS creditworthiness.

UBS AG priced a preliminary offering of Trigger Autocallable Yield Notes linked to the common stock of Oracle Corporation due on or about June 21, 2030. The Notes pay a quarterly coupon of 11.00% per annum (paid in arrears) and are callable quarterly beginning after ~12 months if the closing level of the underlying equals or exceeds a call threshold set at 100.00% of the Initial Level. If not called, principal repayment at maturity is contingent: full principal is returned if the final level is at or above the downside threshold of 50.00% of the Initial Level; otherwise holders suffer principal loss equal to the decline in the underlying, potentially losing all principal. The estimated initial value range on the trade date is $933.60 to $963.60, the issue price is $1,000.00 per Note and the underwriting discount is $31.00 per Note (proceeds to UBS $969.00 per Note). Payments are subject to UBS credit risk and the calculation agent (an affiliate) will make certain determinations and adjustments.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Boston Scientific Corporation maturing June 1, 2027. The Notes pay a periodic contingent coupon only if the underlying's 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 closes at or above the initial level on any observation date prior to the final valuation date; on an automatic call UBS pays principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent: if the final level is below the downside threshold you may receive less than principal, with losses equal to the underlying return. All payments are subject to UBS credit risk. Minimum investment is 100 Notes ($1,000); the estimated initial value on the trade date is $9.67 per Note.

UBS AG is offering Airbag Autocallable Yield Notes linked to Block, Inc. (the "underlying asset") due June 1, 2027. The Notes pay a coupon on each coupon payment date unless they are automatically called early. UBS will automatically call the Notes if the underlying asset's closing level on any observation date prior to the final valuation date is equal to or greater than the initial level; in that event investors receive principal plus the coupon on the related coupon payment date and no further payments will be made. If the Notes are not called and the final level is equal to or greater than the conversion level, UBS will repay principal plus the final coupon. If the Notes are not called and the final level is less than the conversion level, UBS will deliver a share delivery amount equal to the principal divided by the conversion level (with fractional shares settled in cash), which may be worth less than principal, producing a loss. Payments are subject to UBS creditworthiness. Trade date is May 27, 2026, settlement expected May 29, 2026, final valuation date is May 27, 2027.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Boston Scientific Corporation with a term of approximately one year. The Notes pay periodic contingent coupons only if the underlying's closing level meets or exceeds 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 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 the investor can lose a significant portion or all principal. Payments are subject to UBS's creditworthiness. Trade date is May 27, 2026, expected settlement May 29, 2026, final valuation date May 27, 2027, and maturity June 1, 2027. The Notes are offered in minimum blocks of 100 Notes at $10 per Note. The estimated initial value range is $9.36 to $9.61 per Note, as measured by UBS's internal pricing models.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Spotify Technology S.A. The Notes pay a contingent coupon only if the underlying's closing level on an observation date is at or above the coupon barrier; they autocall early if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment is reduced proportionally to the underlying return and you could lose a substantial portion or all of your investment. Key dates: trade date May 27, 2026, settlement May 29, 2026, final valuation date May 25, 2028, maturity May 30, 2028. The Notes have a principal amount of $10 per Note, an estimated initial value of $9.81 as of the trade date, and a minimum purchase of 100 Notes ($1,000). Any payments depend on the creditworthiness of UBS.

UBS AG is offering Airbag Autocallable Yield Notes linked to the common stock of Block, Inc.. The illustrative principal amount is $1,000 per Note; trade date is May 27, 2026, settlement is May 29, 2026, final valuation date is May 27, 2027 and expected maturity is June 1, 2027. The sample coupon rate shown is 13.05% per annum with monthly coupon installments. Notes may be automatically called early if the underlying closing level on an observation date is at or above the initial level; if not called, repayment at maturity is contingent: UBS will repay principal in cash if the final level is at or above the conversion level, but will deliver a share delivery amount if the final level is below the conversion level, which can result in a loss of some or all principal. The preliminary pricing supplement shows an estimated initial value range of $952.80 to $977.80 and emphasizes credit risk of UBS and liquidity and valuation risks.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation stock due June 1, 2027. The notes pay contingent coupons only if the underlying closing level on observation dates meets the coupon barrier and are automatically called early if the underlying closes at or above the initial level on any observation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold (example: $70.00, 70% of the initial level); otherwise the cash repayment at maturity can be less than principal, possibly resulting in total loss. Trade date is May 27, 2026, settlement May 29, 2026. The estimated initial value is $9.80 and minimum investment is 100 Notes ($1,000). Example contingent coupon rate shown: 16.54% per annum ($0.4135 per $10 Note). All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation common stock. The notes have a principal amount of $10 per Note, a minimum purchase of 100 Notes, trade/settlement dates in May 2026, a final valuation date of May 25, 2028 and maturity on May 30, 2028. Payments include periodic contingent coupons only if observation-date closes meet the coupon barrier, an automatic early call if an observation-date close is at or above the initial level, and contingent principal repayment at maturity that may expose investors to the full downside return of the underlying; repayment is subject to UBS credit risk.

UBS AG has released a Preliminary Pricing Supplement for $• Trigger Autocallable Contingent Yield Notes linked to the common stock of Spotify Technology S.A., with trade date May 27, 2026, expected settlement May 29, 2026, final valuation date May 25, 2028, and maturity May 30, 2028. Each Note has a principal amount of $10. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and feature an automatic call if the underlying closes at or above the initial level on any observation date prior to maturity. If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is at or above a disclosed downside threshold; otherwise repayment is reduced proportionally to the underlying return, with possible total loss of principal. The estimated initial value range on the trade date is between $9.43 and $9.68 per Note, and the Notes are offered in minimum investments of 100 Notes ($1,000).

The issuer, UBS AG, offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc. The Notes pay a periodic contingent coupon only if the underlying closing level on an observation date meets or exceeds the coupon barrier, and are automatically called early if the closing level on any observation date prior to maturity is equal to or greater than the initial level. If not called, repayment at maturity is contingent: the principal is repaid in full only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment equals $10 x (1 + underlying return), exposing investors to the negative return of the underlying and potential loss of all principal. The Notes mature on May 29, 2029, with a final valuation date of May 24, 2029. The estimated initial value as of the trade date is $9.73, and the minimum investment is 100 Notes at $10 per Note. All payments, including principal, are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Corning Incorporated that mature on May 30, 2028. The Notes pay a contingent coupon only when the underlying's closing level on an observation date is at or above the coupon barrier and are subject to automatic early call if the underlying meets or exceeds the initial level on an observation date.

If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if the final level is below that threshold, payment at maturity is reduced pro rata to the underlying return and you can lose a significant portion or all of your investment. Payments are subject to the creditworthiness of UBS AG. The estimated initial value per $10 Note on the trade date is $9.69.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation with a planned term of approximately one year, maturing on June 1, 2027. The notes pay periodic contingent coupons only when observation-date closing levels meet or exceed a coupon barrier and will be automatically called early if the underlying closes at or above the initial level on any interim 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 disclosed downside threshold; if the final level is below that threshold, principal is reduced pro rata to the underlying return and investors could lose a large portion or all of their investment. Payments are subject to the creditworthiness of UBS. Trade and settlement are expected on May 27, 2026 and May 29, 2026, respectively.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc. The Notes pay a contingent coupon on specified observation dates only if the underlying stock closes at or above the coupon barrier; otherwise no coupon is paid. The Notes are subject to automatic early redemption if the underlying closes at or above the initial level on an observation date prior to the final valuation 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 the cash payment can be less than principal and may reflect the full percentage decline of the underlying, potentially resulting in a total loss.

Key terms in the excerpt include a trade date of May 27, 2026, settlement May 29, 2026, final valuation date May 24, 2029 and maturity May 29, 2029. Minimum investment is 100 Notes at $10 per Note; the estimated initial value is $9.59. Example terms show a hypothetical contingent coupon rate of 15.95% per annum and a downside threshold of $60.00 (60.00% of the initial level). Any payments depend on UBS's creditworthiness.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation with final valuation on May 25, 2028 and maturity on May 30, 2028. The Notes pay periodic contingent coupons only if the underlying closes at or above the coupon barrier on observation dates; otherwise no coupon is paid.

If the underlying equals or exceeds the initial level on an observation date prior to maturity, the Notes will be automatically called and redeemed for 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, principal is repaid in full. If not called and the final level is below the downside threshold, principal repayment is reduced pro rata to the decline in the underlying, potentially resulting in the loss of a significant portion or all of the investment. The Notes are unsecured obligations of UBS AG and repayment is subject to UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation common stock that mature on May 29, 2029. The Notes pay a contingent coupon only if the underlying closing level on an observation date meets or exceeds the coupon barrier and are automatically called if an observation date closing is equal to or greater than the initial level. The Notes have a $10 principal amount per Note, a minimum purchase of 100 Notes, an estimated initial value of $9.69 as of the trade date, and example terms showing a contingent coupon rate of 21.71% per annum. If not called, repayment at maturity is contingent: if the final level is below the downside threshold (example: $60.00, or 60.00% of the initial level), principal is reduced pro rata to the underlying return and investors can lose a significant portion or all of their investment. All payments are subject to UBS credit risk and the Notes are not FDIC insured.

UBS AG priced a preliminary offering for Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc. The trade date is May 27, 2026 with expected settlement on May 29, 2026 and maturity on May 29, 2029.

The Notes pay periodic contingent coupons only when the underlying closing level is at or above the coupon barrier on observation dates and may be automatically called if the underlying closes at or above the initial level on an observation date. Principal repayment at maturity is contingent: if the final level is below the downside threshold, principal is reduced pro rata to the underlying return and investors could lose a significant portion or all of their investment. The offering lists a principal amount per Note of $10, a hypothetical contingent coupon rate of 19.98% per annum (contingent coupon $0.4995) and an example downside threshold and coupon barrier at $50.00 (50% of the initial level). The estimated initial value range on the trade date is $9.34 to $9.59. Minimum investment is 100 Notes (representing $1,000).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Corning Incorporated, as described in a Preliminary Pricing Supplement dated May 27, 2026.

The Notes have a trade date of May 27, 2026, expected settlement on May 29, 2026, a final valuation date of May 25, 2028, and an expected maturity date of May 30, 2028. The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds the coupon barrier on observation dates and are automatically called if the underlying closes at or above the initial level on an earlier observation date.

Key commercial terms shown include a minimum investment of 100 Notes at $10 per Note (a $1,000 minimum) and an estimated initial value range of $9.36 to $9.61 per Note. The Notes repay principal at maturity only if the final level is at or above the downside threshold; if below, principal repayment is reduced proportional to the underlying return and investors could 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 the common stock of Dow Inc. The Notes have a principal amount of $10 per Note, a trade date of May 27, 2026, expected settlement May 29, 2026, a final valuation date of May 24, 2029 and maturity on May 29, 2029. The Notes pay periodic contingent coupons only if the closing level of the underlying stock on an observation date is at or above the coupon barrier; they are automatically called if the underlying is at or above the initial level on an observation date, in which case holders receive principal plus any contingent coupon due on the 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, the cash payment at maturity can be less than principal, exposing holders to the percentage decline in the underlying and potentially a total loss. The estimated initial value range is $9.27 to $9.52 per Note and the minimum investment is 100 Notes ($1,000). Payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Intel Corporation common stock due June 1, 2027. The Notes pay 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 the final valuation date. If not called, principal repayment at maturity depends on the final level versus a downside threshold; a final level below that threshold exposes investors to a loss equal to the underlying return, possibly losing the entire principal. Payments, including any principal repayment, are subject to UBS credit risk. Trade and settlement dates are May 27, 2026 (trade) and May 29, 2026 (settlement).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Oracle common stock due on or about May 29, 2029. The Notes pay periodic contingent coupons only if 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 observation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment is reduced in proportion to the underlying return, potentially resulting in a total loss of principal. The Notes are unsecured debt of UBS and repayment is subject to UBS credit risk. Trade date and settlement are shown as May 27, 2026 and May 29, 2026. Estimated initial value per Note is shown as between $9.34 and $9.59 on the trade date. The offering has a $10 principal denomination and a minimum investment of 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of American Airlines Group Inc. 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 quarterly if the underlying closes at or above the initial level. 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 will be reduced proportionally to the underlying return, and investors could lose a significant portion or all of their principal. Trade date is May 27, 2026, expected settlement May 29, 2026, final valuation date May 24, 2029, and maturity May 29, 2029. The estimated initial value per $10 Note is $9.73. The Notes are unsecured obligations of UBS and subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advance Auto Parts, Inc. common stock due May 29, 2029. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets or exceeds the coupon barrier and may be automatically called early if the underlying equals or exceeds the initial level on any observation date. If not called, repayment of principal at maturity is contingent: if the final level is below the downside threshold you may receive less than principal, with losses equal to the underlying return and the potential to lose your entire investment. Payments are subject to UBS credit risk. The Notes are offered in minimum investments of 100 Notes at $10 per Note and the estimated initial value as of the trade date is $9.55.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to NIKE, Inc. stock maturing on November 29, 2027. The notes pay a contingent coupon only if the underlying closing level on an observation date meets or exceeds a coupon barrier; otherwise no coupon is paid. The notes are automatically called early if the underlying closing level on any quarterly observation date (beginning after ~6 months) is equal to or above the initial level, in which case holders receive principal plus any contingent coupon due on the call settlement date. If not called, repayment at maturity depends on the final level relative to a downside threshold: if final level is below that threshold, holders suffer a loss equal to the underlying return and could lose all principal. Trade and settlement dates are May 27, 2026 and May 29, 2026; final valuation and maturity dates are November 24, 2027 and November 29, 2027. The offering has a minimum investment of 100 Notes (each $10). All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, with a trade date of May 27, 2026, expected settlement on May 29, 2026, a final valuation date of May 27, 2027 and expected maturity on June 1, 2027. The Notes pay contingent coupons only if the underlying's closing level on an observation date is at or above the coupon barrier; they are automatically called if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if the final level is below that threshold, investors suffer a loss equal to the underlying return and could lose their entire investment. The Notes are unsecured obligations of UBS AG and any payments are subject to the issuer's creditworthiness. The offering is a preliminary pricing supplement and the final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advance Auto Parts common stock, due May 30, 2028. The Notes pay a contingent coupon only if the underlying stock closes at or above the coupon barrier on observation dates; they are automatically called if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise investors suffer a loss equal to the underlying return and could lose the entire investment.

The offering shows a minimum purchase of 100 Notes (<$1,000>), an estimated initial value of $9.73 per Note, and example terms including a 28.21% per annum contingent coupon rate and a $65.00 downside threshold (65% of initial level). Payments are subject to UBS credit risk and market disruption provisions; the Notes will not be listed on an exchange.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Micron Technology common stock due May 29, 2029. The Notes pay periodic contingent coupons only if the underlying's closing level on an observation date meets or exceeds the coupon barrier; otherwise no coupon is paid.

The Notes are subject to quarterly automatic call beginning after approximately 12 months if the underlying equals or exceeds the initial level; called notes pay principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent: if the final level is below the downside threshold, repayment is reduced proportionally to the underlying return (potentially a total loss). All payments are subject to UBS credit risk. Trade date is May 27, 2026, settlement May 29, 2026, and maturity May 29, 2029.

UBS AG has posted a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of American Airlines Group Inc. The trade date is May 27, 2026, expected settlement May 29, 2026 and maturity around May 29, 2029. The Notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier on observation dates and are 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 paid only if the final level is at or above the disclosed downside threshold; if the final level is below that threshold, repayment declines in proportion to the underlying return and investors could lose a significant portion or all principal. The document states estimated initial values between $9.36 and $9.61, a minimum investment of 100 Notes (representing $1,000), and that any payment is subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc. that mature on or about May 29, 2029. The notes pay periodic contingent coupons only if the underlying closing level meets coupon barriers on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the downside threshold; otherwise repayment declines proportionally to the underlying return and could result in a total loss. All payments are subject to the creditworthiness of UBS. Trade and settlement are expected on May 27, 2026 and May 29, 2026, respectively.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NIKE, Inc. with a maturity on or about November 29, 2027. The notes pay a contingent coupon only if the underlying meets 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, principal is repaid at maturity only if the final level is at or above a downside threshold; otherwise principal is reduced proportionally to the underlying return and investors could lose a significant portion or all of their investment. Payments depend on UBS's creditworthiness. Trade and settlement are expected on May 27, 2026 and May 29, 2026, respectively. The notes are offered in minimum increments of 100 Notes ($1,000) and the preliminary estimated initial value range is $9.39–$9.64 per $10 Note.

UBS AG priced Trigger Autocallable Contingent Yield Notes linked to ServiceNow, Inc. common stock. The Notes mature on May 30, 2028 with a final valuation date of May 25, 2028. Payments depend on observation-date levels versus an initial level, a coupon barrier and a downside threshold; principal repayment at maturity is contingent and subject to UBS credit risk.

The Notes offer periodic contingent coupons paid only when the underlying closing level meets or exceeds the coupon barrier, an automatic early-call if the underlying meets or exceeds the initial level on an observation date, and potential full downside market exposure at maturity if the final level is below the downside threshold.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation common stock due June 1, 2027. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets the 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: if the final level is at or above the downside threshold you receive the principal; if below, you receive an amount equal to $10 x (1 + underlying return), which can result in a substantial loss or complete loss of principal. Payments depend on UBS's creditworthiness. Trade date is May 27, 2026, settlement May 29, 2026, final valuation date May 27, 2027, and maturity June 1, 2027. The estimated initial value per Note is $9.88. Minimum investment is 100 Notes at $10 per Note.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation stock due June 1, 2027. The notes pay a contingent coupon only if the underlying closes at or above a coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on any 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; if the final level is below that threshold, holders will suffer a loss equal to the underlying return and could lose all principal. The notes have a $10 principal per note, an estimated initial value of $9.81, and are offered in minimum investments of 100 notes.

UBS AG priced Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation stock due May 29, 2029. The Notes pay a contingent quarterly coupon only if the underlying closes at or above a coupon barrier on an observation date; they are automatically called if the underlying closes at or above the initial level on a quarterly observation (beginning ~12 months after issue). At maturity, if not called, principal repayment is contingent: full principal is paid only if the final level is at or above the downside threshold; otherwise principal is reduced pro rata to the underlying return, with the potential loss of the entire principal. The Notes are unsecured obligations of UBS and payments depend on UBS creditworthiness. Trade date is May 27, 2026, settlement May 29, 2026, final valuation date May 24, 2029, maturity May 29, 2029. Minimum purchase is 100 Notes ($1,000).

UBS AG proposes a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc. The Notes pay periodic contingent coupons only if the underlying stock meets a coupon barrier on observation dates and are subject to automatic early call 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; otherwise repayment is reduced pro rata to the underlying return, producing potential for substantial loss, including total loss. Trade date is May 27, 2026, settlement May 29, 2026, final valuation date May 25, 2028, and maturity May 30, 2028. Minimum investment is 100 Notes at $10 per Note; the estimated initial value per Note is between $9.35 and $9.60 as of the trade date. The Notes are unsecured obligations of UBS and any payments depend on UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. common stock due June 1, 2027. The Notes pay a contingent coupon on coupon dates 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 UBS pays principal plus any contingent coupon on the related call settlement date. If not called and the final level is below the downside threshold, repayment at maturity will be reduced pro rata to the underlying return, potentially resulting in a total loss of principal. Payments are subject to the creditworthiness of UBS. Trade date is May 27, 2026 and expected settlement May 29, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc. The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds 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 final valuation. If not called, principal repayment at maturity depends on the final level versus a downside threshold; if the final level is below that threshold, principal is reduced pro rata to the underlying return and investors could lose a significant portion or all of their investment. The Notes have a trade date of May 27, 2026, expected settlement May 29, 2026, final valuation date May 25, 2028, and maturity date May 30, 2028. The Notes are offered in $10 increments (minimum 100 Notes), with an estimated initial value of $9.79 per Note as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, with a trade date of May 27, 2026, expected settlement May 29, 2026, final valuation date May 27, 2027 and maturity on June 1, 2027. The notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates; they are automatically called early if the underlying closes at or above the initial level on an observation date.

If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above a disclosed downside threshold; if below, repayment equals $10 x (1 + underlying return), exposing investors to the underlying's downside (including loss of principal). The preliminary pricing shows an estimated initial value range of $9.56 to $9.81 per note and a minimum investment of 100 notes ($1,000). Example hypothetical terms include a sample contingent coupon rate of 11.15% per annum and a downside threshold equal to $60.00 (60.00% of initial level). All 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 ServiceNow, Inc. with an expected trade date of May 27, 2026, settlement on May 29, 2026, final valuation on May 25, 2028, and maturity on May 30, 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. At maturity, principal is repaid only if the final level is at or above the disclosed downside threshold; otherwise repayment declines with the underlying, and principal can be fully lost. The preliminary example shows a hypothetical contingent coupon rate of 22.76% per annum and a downside threshold of 60.00% of the initial level. The estimated initial value range is between $9.34 and $9.59 per $10 Note and minimum investment is $1,000.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. due on or about May 29, 2029. The Notes pay periodic contingent coupons only if observation‑date closes meet a coupon barrier and can be automatically called quarterly beginning after May 2027. At maturity the Notes repay principal only if the final level meets a downside threshold; if final level is below that threshold the investor bears downside market exposure and may lose a significant portion or all of principal. The illustrative principal amount per Note is $10, with a minimum purchase of 100 Notes ($1,000), and an example contingent coupon rate shown of 28.75% per annum.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation with an expected trade date of May 27, 2026, settlement on May 29, 2026, a final valuation date of May 27, 2027, and maturity on June 1, 2027. Each Note has a principal amount of $10 and will pay contingent coupons only when the underlying closing level on an observation date is equal to or above the coupon barrier. The Notes are subject to automatic early call 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 investors suffer a loss equal to the underlying return, potentially losing all principal. The estimated initial value per Note is between $9.48 and $9.73, and the offering is subject to UBS credit risk and the final pricing supplement.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Ovintiv Inc., maturing May 30, 2028. The notes pay a contingent coupon only when the underlying closing level on an observation date meets or exceeds a coupon barrier; otherwise no coupon is paid. The notes are automatically called on any quarterly observation date (beginning ~6 months after trade) if the closing level is at or above the initial level, in which case UBS pays principal plus any contingent coupon due on the 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, repayment at maturity is reduced proportionally to the underlying return and investors could lose a substantial amount, including all principal. Payments depend on UBS creditworthiness. Trade date is May 27, 2026, settlement expected May 29, 2026. Final valuation date is May 25, 2028 and maturity is May 30, 2028. The estimated initial value on the trade date was $9.67 per $10 note. Minimum purchase 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. (preliminary pricing supplement dated May 27, 2026). The Notes mature on June 1, 2027 with a final valuation date of May 27, 2027 and may be automatically called early if the underlying meets the initial-level trigger on an observation date. The offering has a minimum investment of 100 Notes at $10 per Note (a $1,000 minimum). Example terms show a hypothetical contingent coupon rate of 21.20% per annum (contingent coupon $0.53 per $10 Note), an estimated initial value range of $9.48 to $9.73, and a downside threshold of $50.00 (50.00% of the initial level). Payments, including any contingent coupons or principal at maturity, are subject to the creditworthiness of UBS; if UBS defaults you could lose some or all of your investment. The final terms will be set on the trade date and the document is preliminary, subject to delivery of final Offering Documents.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc. The preliminary pricing supplement dated May 27, 2026 sets a trade date of May 27, 2026, settlement on May 29, 2026, a final valuation date of May 25, 2028, and a maturity date of May 30, 2028.

The notes pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds the coupon barrier; they are automatically called if the underlying closing level on any observation date prior to maturity is equal to or above the initial level. If not called, repayment at maturity is contingent: if the final level is below the downside threshold the cash payment per $10 note will be reduced proportionally to the underlying return, potentially resulting in substantial loss or complete loss of principal. The offering is subject to UBS credit risk. Example terms show a principal amount of $10, a hypothetical contingent coupon rate of 24.05% per annum (contingent coupon of $0.6013 per $10 note), a downside threshold of $55.00 (55.00% of the initial level), and an estimated initial value range of $9.42–$9.67. Minimum investment is 100 notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Ovintiv Inc. The preliminary pricing supplement dated May 27, 2026 sets key trade terms: trade date May 27, 2026, settlement date May 29, 2026, final valuation date May 25, 2028 and maturity date May 30, 2028. The Notes pay periodic contingent coupons only if the underlying stock 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 quarterly observation date after six months.

If the Notes are not called, repayment at maturity is contingent: if the final level is at or above the downside threshold, UBS pays the principal amount; if below, the cash payment can be less than principal and may reflect the percentage decline in the underlying, potentially resulting in a total loss. The Notes are unsecured obligations of UBS and all payments are subject to the creditworthiness of UBS. The minimum investment is 100 Notes at $10 per Note; the estimated initial value range on the trade date is $9.36 to $9.61.