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

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advance Auto Parts, Inc. (AMUB) due on or about May 21, 2029. 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. At maturity, if not called and the final level is below the downside threshold, principal repayment is reduced proportionally to the underlying return; in extreme cases you could lose your entire investment. The Notes carry issuer credit risk of UBS and an estimated initial value per Note of $9.28–$9.53 on the trade date. Trade date is May 18, 2026, settlement date May 20, 2026, final valuation date May 17, 2029.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation with an expected trade date of May 18, 2026, settlement on May 20, 2026 and maturity on May 21, 2029. Each Note has a $10 principal amount and pays contingent coupons only when the underlying closing level meets or exceeds a coupon barrier on observation dates. The Notes are automatically called early if the underlying closes at or above the initial level on any quarterly observation date (beginning after six months). If not called, principal repayment at maturity is contingent: full principal is payable only if the final level is at or above a downside threshold; otherwise repayment declines pro rata with the underlying return, potentially resulting in loss of principal. The estimated initial value range is $9.34–$9.59 per Note. All payments, including principal, are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc., maturing on May 21, 2029. The notes pay periodic contingent coupons only if the underlying meets coupon barriers on observation dates and are subject to automatic early call if the underlying reaches the initial level on any observation date.

Minimum investment is 100 Notes at $10 per Note. The preliminary document shows an estimated initial value range of $9.35 to $9.60, a hypothetical contingent coupon rate of 26.06% per annum (contingent coupon of $0.6515 per $10 Note), a coupon barrier and downside threshold of $60.00 (60.00% of the initial level). Principal repayment at maturity is contingent on the final level relative to the downside threshold; if below, repayment equals $10 x (1 + underlying return), which can result in a substantial or total loss of principal.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The notes mature on May 22, 2028 and may pay periodic contingent coupons only if the underlying stock closes at or above a stated coupon barrier on observation dates. The notes will be automatically called early if the underlying stock closes at or above the initial level on any observation date prior to the final valuation date, in which case holders receive principal plus any applicable contingent coupon on the related coupon payment date. If not called, repayment at maturity depends on the final level versus a downside threshold: if the final level is at or above the downside threshold, holders receive the principal amount; if it is below, holders receive an amount equal to $10 multiplied by (1 + underlying return), which can result in a substantial loss or a total loss of principal. Payments are subject to UBS credit risk. The trade date is May 18, 2026 and settlement is expected on May 20, 2026. The estimated initial value on the trade date is $9.79 per Note and minimum purchase is 100 Notes at $10 per Note.

UBS AG is offering $100,000 Trigger Autocallable Contingent Yield Notes linked to Boston Scientific common stock maturing May 21, 2029. Each Note has a $10 principal amount and pays contingent coupons only when the underlying closing level meets the coupon barrier on observation dates. The Notes will be automatically called early if the underlying equals or exceeds the initial level on an observation date; otherwise principal repayment at maturity is contingent on the final level relative to a downside threshold. Example terms show a contingent coupon rate of 8.46% per annum (contingent coupon $0.2115 per $10 Note), an estimated initial value of $9.54, a downside threshold of $60.00 (60.00% of the initial level), and a minimum investment of $1,000 (100 Notes). Any payments, including repayment of principal, depend on UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The preliminary pricing supplement dated May 18, 2026 sets a trade date of May 18, 2026, expected settlement on May 20, 2026, a final valuation date of May 18, 2028 and maturity on May 22, 2028.

The Notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier on observation dates and include an automatic call if the underlying equals or exceeds the initial level on any pre‑maturity observation date. Principal repayment at maturity is contingent: if the final level is below the downside threshold the repayment may be less than principal, potentially resulting in substantial or total loss. The preliminary example assumes a $10 principal per Note, a hypothetical contingent coupon rate of 20.58% per annum (contingent coupon $0.5145), an estimated initial value range of $9.44 to $9.69, and a downside threshold of $50.00 (50% of the initial level).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Boston Scientific Corporation, with a trade date of May 18, 2026, expected settlement on May 20, 2026 and expected maturity on or about May 21, 2029. The offering is subject to delivery of final Offering Documents and will not be sold where not permitted.

The Notes pay periodic contingent coupons only if observed closing levels meet a coupon barrier and may autocall 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 a disclosed downside threshold; otherwise principal is reduced pro rata to the underlying return, potentially resulting in a full loss. Examples in the preliminary terms show a hypothetical contingent coupon rate of 8.46% per annum ($0.2115 per $10 Note) and illustrative outcomes including a payment of $3.60 per $10 Note in a stressed scenario.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Palantir Technologies Inc. common stock that mature on May 21, 2029. The notes pay contingent coupons only when the underlying closing level meets a coupon barrier and may be automatically called early if the underlying meets or exceeds 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 declines pro rata with the underlying return and you could lose a significant portion or all of your investment. Payments, including any principal repayment, are subject to UBS credit risk. The estimated initial value at trade date is $9.71 per $10 note and the notes are offered in minimum increments of 100 notes ($1,000).

UBS AG published a preliminary pricing supplement dated May 18, 2026 for $• Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., due on or about May 21, 2029. The notes pay a contingent coupon only when the underlying's closing level meets or exceeds a coupon barrier on observation dates and will automatically call early if the underlying is at or above the initial level on any observation date.

The offering sets a $10 principal amount per Note, a minimum purchase of 100 Notes (a $1,000 investment) and an estimated initial value per Note between $9.34 and $9.59. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment at maturity can be less than principal and may result in a total loss tied to the underlying return. All payments are subject to the creditworthiness of UBS. Terms are subject to completion and finalization in the Offering Documents.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc. The Notes mature on May 21, 2029 with a principal amount of $10 per Note and an estimated initial value of $9.68 as of the trade date. The Notes pay a contingent coupon on each coupon payment date only if the closing level of Snowflake on the applicable observation date is equal to or greater than the coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early if Snowflake’s 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 the Notes are not called and the final level is below the downside threshold, holders will receive at maturity a cash payment that may be less than the principal amount and could result in a loss up to the full 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 Snowflake Inc. with final valuation on May 17, 2029 and maturity on May 21, 2029. The notes pay contingent coupons only when the underlying meets a coupon barrier and feature an automatic early-call if the underlying equals or exceeds the initial level on an observation date.

The notes have a $10 principal amount per note, a minimum purchase of 100 notes ($1,000), an estimated initial value range of $9.35–$9.60, and a hypothetical contingent coupon rate shown as 25.82% per annum (contingent coupon example $0.6455 per $10 note). If not called and the final level is below the downside threshold, principal repayment is contingent and can result in losses up to 100% of the investment; all payments are subject to UBS credit risk.

UBS AG is offering $2,839,000 of Buffer Callable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the Russell 2000® Index. The Notes pay a contingent coupon of 10.55% per annum only if each underlying asset meets its coupon barrier on an observation date and are callable monthly by UBS beginning about 12 months after issuance.

The Notes include an 85% downside threshold (a 15% buffer) on each underlying asset: if UBS does not call the Notes and the final level of the least performing underlying asset is below its downside threshold, holders incur a loss equal to the underlying shortfall in excess of the buffer. The issue price is $1,000 per Note, the estimated initial value is $990.60, and proceeds to UBS are $995.00 per Note. Payments depend on UBS creditworthiness and the Notes will not be listed on an exchange.

UBS AG is offering $6,294,000 of Trigger Autocallable Notes linked to the least performing of the Russell 2000® Index and the S&P 500® Index, maturing May 20, 2030. Each Note has a principal amount of $1,000 and a call return rate of 11.20% per annum. The Notes are automatically called if both indices close at or above their call threshold on any observation date; call prices range from $1,112 (first call) to $1,448 (final). If not called, repayment at maturity is contingent: if the final level of any underlying index is below its downside threshold (70% of initial level), holders suffer a loss equal to the decline of the least performing underlying asset. Payments depend on UBS’s creditworthiness. The estimated initial value per Note is $967.30 and the issue price per Note is $1,000.

UBS AG offers $1,200,000 principal of Phoenix Autocallable Buffer Notes linked to Arista Networks, Inc., due June 2, 2027. These unsubordinated, unsecured notes pay a contingent interest of $719.75 per $10,000 Note on specified observation dates if the underlying stock meets the interest barrier. The Notes are automatically callable if Arista’s closing price on any autocall observation date is at or above the initial price and may be repaid in cash at call. If not called, principal is repaid at maturity only if the final price is at or above the downside threshold of $118.25 (80% of the initial price $147.81); otherwise UBS will deliver a share delivery amount (approximately 84.5666 shares per $1,000 of principal, or 125.0000 shares per $10,000 for the illustrative example) whose value can be significantly less than principal. The issue price per Note is $10,000, estimated initial value $9,815.00, and UBS bears credit risk for all payments.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of United Airlines Holdings, Inc. The Notes pay a contingent coupon of 16.75% per annum on observation dates if the underlying closes at or above the coupon barrier, are callable quarterly (first callable after six months), mature on May 24, 2029, and repay principal at maturity only if the final level is at or above a 60.00% downside threshold. If the final level is below the downside threshold, principal repayment decreases in direct proportion to the underlying return; extreme losses (including total loss) are possible. Issue price is $1,000.00 per Note; estimated initial value on the trade date is between $937.30 and $967.30. Payments depend on UBS’s creditworthiness; the Notes will not be listed on an exchange.

UBS AG is offering Trigger Autocallable Notes linked to the MSCI4 Emerging Markets. The offering totals $2,417,000 at an issue price of $10.00 per Note, with a minimum investment of 100 Notes ($1,000). The Notes pay no interest, have an 11.15% per annum call return rate and may be automatically called on specified quarterly observation dates; call prices rise over time up to $15.5750 at final valuation. Principal repayment at maturity is contingent on the final index level relative to a downside threshold equal to 75.00% of the initial level. The estimated initial value per Note is $9.699. Any payment is subject to UBS credit risk and the Notes will not be listed on an exchange.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the S&P 500® Index and the Nasdaq-100 Index® due on or about July 26, 2028. The notes pay a contingent coupon only when each underlying closing level on an observation date meets its coupon barrier and are callable monthly at UBS’s discretion beginning after three months. If UBS does not call the notes and the final level of any underlying asset is below its 70.00% downside threshold, holders will receive a reduced principal payment tied to the percentage decline of the least performing underlying asset and could lose a significant portion or all of their investment. Issue price per note is $1,000.00 with an underwriting discount of $5.00 per note; proceeds to UBS are $995.00 per note. The estimated initial value range on the trade date is $962.70 to $992.70. All payments are subject to UBS’s creditworthiness and the 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 Nasdaq-100® Technology Sector and the Russell 2000® Index. The offering size is $6,118,000 at an issue price of $1,000 per Note; the estimated initial value per Note is $986.40. The Notes pay a fixed contingent coupon of 12.50% per annum when both underlying assets meet coupon barriers on an observation date. The Notes are callable by UBS on monthly observation dates beginning after three months; final valuation is April 17, 2028 with maturity on April 20, 2028. Principal repayment at maturity is contingent: if each underlying asset’s final level is ≥ its downside threshold (70.00% of its initial level), holders receive the $1,000 principal; otherwise repayment equals $1,000 × (1 + Underlying Return of the Least Performing Underlying Asset), which can result in substantial loss, including total loss. All payments are subject to UBS credit risk.

UBS AG is offering $607,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Coherent Corp. common stock. The Notes pay a contingent coupon at a 29.30% per annum rate if observation-date conditions are met, are callable monthly after three months, and mature on November 18, 2027.

The Notes have an Initial Level of $382.45, a call threshold equal to 100.00% of the Initial Level, and a downside threshold/coupon barrier equal to 50.00% of the Initial Level ($191.23). Principal repayment at maturity is contingent on the final level and is subject to UBS credit risk.

UBS AG offers $1,590,000 in Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500, Nasdaq-100 and Russell 2000. The Notes pay a contingent coupon of 9.15% per annum only if each underlying index meets its coupon barrier on an observation date. UBS may call the Notes monthly (beginning ~3 months after issuance); if not called and any final index level is below its 70.00% downside threshold, principal repayment at maturity will be reduced pro rata to the decline of the least performing underlying asset. The estimated initial value on the trade date was $974.90, and the issue price per Note is $1,000.00. Purchases are unsecured obligations of UBS and subject to UBS credit risk and product-specific market risks described in the supplement.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000® and the S&P 500®. The offering totals $500,000 at an issue price of $1,000 per Note with an estimated initial value of $972.80. Each Note pays a contingent coupon of 7.80% per annum when both indices meet coupon barriers on observation dates. The Notes are callable quarterly (first callable after ~6 months) and mature on May 18, 2029. At maturity, if the final level of any underlying index is below its 70.00% downside threshold, principal repayment will be reduced proportionally to the negative return of the least performing underlying asset; in extreme cases an investor could lose the entire investment. Payments are subject to UBS creditworthiness and there may be little or no secondary market.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000®, the S&P 500® and shares of the State Street® Utilities Select Sector SPDR® ETF. The offering totals $953,000 at an issue price of $1,000 per Note with a term of approximately five years unless called. The Notes pay a contingent coupon of 9.45% per annum on each coupon date only if the closing level of each underlying asset meets its coupon barrier; UBS may call the Notes in whole on monthly observation dates beginning after 12 months. At maturity investors receive principal only if every underlying asset’s final level is at or above its downside threshold (each set at 70.00% of initial levels); otherwise repayment is reduced pro rata by the negative return of the least performing underlying asset and investors could lose a significant portion or all of principal. The estimated initial value as of the trade date was $975.30. All payments, including any repayment of principal, are subject to UBS’s creditworthiness.

UBS AG offers $16,140,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the S&P 500® Index, XLK and XLU. The Notes pay a 13.00% per annum contingent coupon if all three underlyings meet coupon barriers on an observation date and are callable monthly beginning after three months. The Notes mature on May 17, 2029, repay principal at maturity only if each underlying meets its downside threshold, otherwise repayment equals $1,000 times (1 + return of the least performing underlying), potentially resulting in substantial or total loss of principal. The estimated initial value per Note was $992.00 and the issue price per Note is $1,000.00.

UBS AG offers Digital MSCI EAFE® Index‑Linked medium‑term notes. Each note has a $1,000 face amount and a term expected to be between 24 and 27 months. The notes provide a capped positive payoff if the final index level is at or above a buffer level of 87.50% of the initial level and a capped maximum settlement (expected between $1,152.60 and $1,179.50 per $1,000 face amount). If the final index level declines below the buffer, losses accrue at approximately 1.1429% of face amount for every 1% decline below the buffer; you could lose your entire investment. The estimated initial value on the trade date is expected to be between $964.90 and $994.90 per $1,000 face amount. The notes are unsecured obligations of UBS and involve issuer credit risk; they are not FDIC insured.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the VanEck® Semiconductor ETF maturing May 19, 2027. The Notes pay a contingent coupon only if the closing level of the ETF on an observation date meets or exceeds a coupon barrier; otherwise no coupon is paid. UBS will automatically call the Notes early if the ETF closing level on any observation date (before the final valuation date) is equal to or greater than the initial level, in which case holders receive principal plus any contingent coupon due on the related call settlement date. If not called, repayment at maturity depends on the final level: holders receive full principal if the final level is at or above the downside threshold; if the final level is below that threshold, principal is reduced proportionally to the ETF’s decline and investors may lose a significant portion or all of their investment. The Notes are unsecured obligations of UBS and any payment is subject to UBS’s credit risk. Minimum purchase is 100 Notes ($1,000); the estimated initial value on the trade date is $9.79.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Take-Two Interactive common stock with final maturity on November 19, 2027. The Notes pay contingent quarterly coupons only if the underlying's closing level on an observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early if the underlying closes at or above the initial level on any quarterly observation date beginning after 6 months, in which case investors receive 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 the cash pay‑out is reduced pro rata to the underlying return, and investors can lose a significant portion or all of their principal. The Terms include a minimum investment of 100 Notes at $10 per Note, an estimated initial value of $9.78, and trade/settlement and valuation dates shown in the supplement. All payments, including principal, are subject to the creditworthiness of UBS AG.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation stock due May 19, 2027. The Notes pay periodic contingent coupons only when the underlying closing level meets or exceeds a coupon barrier and may be automatically called if the underlying closes at or above 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 will suffer a loss equal to the underlying return, potentially losing your entire investment. Payments, including any contingent coupons and principal, depend on UBS's creditworthiness. The Notes are issued in minimum blocks of 100 Notes at $10 per Note with an estimated initial value of $9.89 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the VanEck® Semiconductor ETF. The preliminary pricing supplement dated May 15, 2026 describes notes that pay contingent coupons only when the underlying closes at or above a coupon barrier on observation dates and that may be automatically called prior to maturity if the underlying equals or exceeds the initial level on an observation date. The trade date is May 15, 2026, settlement is expected May 19, 2026, the final valuation date is May 17, 2027 and scheduled maturity is May 19, 2027. The notes are unsecured obligations of UBS AG, expose investors to downside market risk at maturity if certain thresholds are breached, and are subject to UBS credit risk. The offering has a minimum purchase of 100 notes (principal $1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation common stock due May 19, 2028. The Notes pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on any observation date prior to maturity.

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; if below, repayment falls in proportion to the underlying return and investors can lose a significant portion or all of their investment. All payments are subject to UBS credit risk. Trade date is May 15, 2026 with expected settlement on May 19, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation with expected trade date May 15, 2026 and expected maturity on or about May 19, 2027. The Notes pay periodic contingent coupons only if the underlying meets coupon barrier levels on observation dates and include an automatic 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, principal is reduced proportionally to the underlying return, and investors could lose a substantial portion or all of their investment. The Notes are unsecured obligations of UBS AG and subject to UBS credit risk. The offering is preliminary and final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock. The Notes mature on May 19, 2028 and include quarterly observation dates beginning after 12 months, an automatic call if the underlying stock equals or exceeds the initial level on an observation date, and contingent coupons payable only when the underlying's closing level meets the coupon barrier.

The offering size shown is $1,905,000 and the Notes are sold in minimum increments of 100 Notes at $10 per Note; the estimated initial value per Note is $9.70. If not called, principal repayment at maturity is contingent on the final level relative to the downside threshold; if the final level is below that threshold, investors can suffer losses equal to the underlying return, up to a total loss. All payments depend on UBS's creditworthiness.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation due on or about May 19, 2028. The Notes pay a contingent coupon only when the underlying meets the coupon barrier on observation dates, include an automatic call if the underlying equals or exceeds the initial level on any observation date, and repay principal at maturity only if the final level is at or above the downside threshold; otherwise investors absorb the underlying's negative return. Trade date is May 15, 2026 with expected settlement on May 19, 2026. Principal is denominated as $10 per Note; the estimated initial value range is $9.39 to $9.64 as of the trade date. All payments, including contingent coupons and any principal repayment, are subject to UBS's creditworthiness. The final terms will be set on the trade date and the Offering Documents must be delivered in final form before sales.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to CrowdStrike common stock due May 19, 2028. The Notes pay a contingent coupon only if 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 prior observation date. If not called, principal repayment at maturity depends on the final level relative to a downside threshold; a final level below that threshold exposes investors to the underlying’s percentage decline and possible loss of all principal. Payments are subject to UBS credit risk. Trade date is May 15, 2026 and settlement is May 19, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and can be automatically called early if the underlying closes at or above the initial level on 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 stated downside threshold, UBS will repay principal; if below, repayment will decline proportionally to the underlying return, and investors can lose a substantial portion or all principal. Trade and settlement dates are May 15, 2026 and May 19, 2026. Final valuation and maturity dates are May 17, 2028 and May 19, 2028. The Notes are unsecured obligations of UBS and any payments, including principal, depend on UBS creditworthiness. The estimated initial value per Note is $9.75 and the minimum investment is 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. The Notes pay contingent coupons only if the underlying stock meets coupon barriers on specified observation dates, are callable quarterly after the first year if the underlying reaches the initial level, and return principal at maturity only if the final level is at or above the downside threshold. Trade date is May 15, 2026, settlement May 19, 2026, final valuation date May 17, 2028, and maturity May 19, 2028. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk. The estimated initial value per $10 Note is between $9.31 and $9.56.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc. The preliminary pricing supplement dated May 15, 2026 sets trade and settlement mechanics and describes contingent coupons, an automatic call feature and contingent principal repayment at maturity.

The notes pay a contingent coupon only if the underlying closing level meets the coupon barrier on observation dates; they will be automatically called 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, principal repayment at maturity may be reduced proportionally to the underlying return. Payments depend on UBS's creditworthiness. Trade date is May 15, 2026, expected settlement May 19, 2026, final valuation date May 17, 2028, and maturity May 19, 2028.

UBS AG published a preliminary pricing supplement for $• Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc., due on or about May 19, 2028, subject to completion. The Notes pay contingent periodic coupons only if the underlying's closing level meets the coupon barrier on observation dates and may be automatically called early if the underlying's closing level meets or exceeds the initial level on any observation date prior to the final valuation date. If not called, principal is repaid at maturity only if the final level is equal to or greater than the downside threshold; otherwise repayment at maturity is reduced proportionally to the underlying return, potentially resulting in substantial loss of principal.

The trade date is May 15, 2026 with expected settlement on May 19, 2026. Notes are offered in minimum increments of 100 Notes at $10 per Note (a $1,000 minimum investment). UBS provides an estimated initial value range of $9.44 to $9.69 per Note; final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Constellation Energy Corporation stock due May 19, 2028. Each Note has a principal amount of $10 and may pay periodic contingent coupons only if the underlying stock closes at or above a stated coupon barrier on observation dates. The Notes are automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date, in which case investors receive principal plus any contingent coupon due on the related coupon payment date. If not called, repayment of principal at maturity is contingent: if the final level is at or above the downside threshold you receive $10; if below, repayment equals $10 x (1 + Underlying Return), which can result in a substantial loss or a complete loss of principal. All payments are subject to the creditworthiness of UBS. Trade date was May 15, 2026, settlement expected May 19, 2026, final valuation date May 17, 2028, and maturity May 19, 2028. The estimated initial value on the trade date is $9.72. Read the Key Risks and Product Supplement for full terms.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Freeport-McMoRan Inc. common stock due May 19, 2028. The Notes pay periodic contingent coupons only if the underlying stock closes at or above the coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on any observation date. If the Notes are not called and the final level is below the downside threshold, principal repayment at maturity is contingent and can result in a loss equal to the percentage decline in the underlying, potentially a total loss. Payments are subject to UBS credit risk. Trade date is May 15, 2026, settlement May 19, 2026, final valuation date May 17, 2028, maturity May 19, 2028. The estimated initial value on the trade date was $9.71 per $10 Note.

UBS AG offers a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, due on or about May 19, 2028. The final terms will be set on the trade date and the offering is subject to delivery of the pricing supplement, product supplement and prospectus.

The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on each observation date and feature an automatic call if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent: investors receive full principal only if the final level is at or above a stated downside threshold; otherwise repayment is reduced pro rata to the underlying return, potentially resulting in a complete loss. All payments are subject to UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc., due on or about May 19, 2028. The notes pay contingent coupons only if the underlying meets coupon barriers on observation dates, are automatically called if the underlying meets an initial level on an observation date, and repay principal at maturity only if the final level is at or above a downside threshold.

The preliminary terms show a trade date of May 15, 2026, settlement on May 19, 2026, an estimated initial value range of $9.41–$9.66 per $10 note, a minimum investment of 100 notes ($1,000), a hypothetical contingent coupon rate of 20.94% per annum (contingent coupon $0.5235 per $10 note) and a downside threshold of $70.00 (70.00% of the initial level). The notes are unsecured obligations of UBS and any payments depend on UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation due May 19, 2028. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets or exceeds the coupon barrier and will be automatically called early if the underlying closing level on any interim observation date is 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; otherwise principal is reduced in proportion to the underlying return and investors can lose a large portion or all of their investment. The Notes are unsecured obligations of UBS and any payments depend on UBS creditworthiness. Trade and settlement dates are May 15, 2026 and May 19, 2026, respectively; final valuation and maturity are May 17, 2028 and May 19, 2028. The estimated initial value per Note as of the trade date is $9.81.

UBS AG is offering $100,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., due May 19, 2027. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds a coupon barrier; they are automatically called early if the closing level on an observation date before the final valuation date is equal to or greater than the initial level. If not called, repayment at maturity is contingent: if the final level is at or above the downside threshold UBS will repay the $10 principal per Note, but if the final level is below the downside threshold repayment will be reduced pro rata to the underlying return and you could lose a significant portion or all of your investment. The Notes are unsecured obligations of UBS and all payments are subject to UBS's creditworthiness. The trade date is May 15, 2026, settlement is May 19, 2026, final valuation date is May 17, 2027, and maturity is May 19, 2027. The Notes are offered in minimum increments of 100 Notes (representing a $1,000 minimum investment) and the estimated initial value was $9.74 per Note as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of the underlying entity with final valuation on May 17, 2027 and maturity on May 19, 2027. The Notes pay a contingent coupon on coupon dates only when the underlying closing level meets or exceeds the 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 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 of their principal. The Notes are unsecured obligations of UBS and all payments, including any repayment of principal, depend on the creditworthiness of UBS. Trade date is May 15, 2026 and settlement is May 19, 2026. Minimum investment is 100 Notes ($1,000) and the estimated initial value on the trade date was $9.76 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Taiwan Semiconductor Manufacturing Company Limited ADRs maturing November 19, 2027. Each Note has a $10 principal amount and pays contingent coupons only if the underlying ADR closes at or above the coupon barrier on observation dates. The Notes will be automatically called early if the ADR closes at or above the initial level on any observation date prior to the final valuation date; upon an automatic call UBS pays principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent: if the final ADR level is below the downside threshold you can suffer a loss equal to the ADR’s percentage decline from the initial level and could lose all your investment. The Notes are unsecured obligations of UBS and any payment is subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Eli Lilly common stock due May 19, 2028. Each Note has a $10 principal amount and pays a contingent coupon only when the underlying stock closes at or above a coupon barrier on observation dates; otherwise no coupon is paid. If the Notes are automatically called early after an observation date where the underlying closes at or above the initial level, UBS will pay principal plus any contingent coupon then due. If not called and the final level is below the downside threshold, principal repayment at maturity is reduced pro rata to the underlying return, and investors can lose a substantial portion or all of their investment. The estimated initial value on the trade date is $9.72. The Notes are unsecured obligations of UBS and repayment depends on UBS's creditworthiness.

UBS AG offers preliminary pricing for Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about May 19, 2028. The notes pay periodic contingent coupons only if the underlying meets coupon barriers on observation dates and may be automatically called early if the underlying reaches or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent: full principal is repaid only if the final level is at or above a disclosed downside threshold; if below, repayment falls by the percentage decline in the underlying and you could lose a significant portion or all of your investment. Payments depend on UBS creditworthiness. Trade date is May 15, 2026 and settlement is expected on May 19, 2026. Minimum initial investment is $1,000 (100 Notes).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of the referenced underlying asset, with a trade date of May 15, 2026 and a maturity on or about May 19, 2027. The Notes pay periodic contingent coupons only if the underlying's closing level meets or exceeds a coupon barrier on observation dates and are automatically called early if the underlying equals or exceeds the initial level on any observation date prior to the final valuation date.

The offering has a minimum investment of 100 Notes ($1,000). UBS discloses an estimated initial value range of $9.45 to $9.70 per $10 Note and shows a hypothetical contingent coupon rate of 17.35% per annum (contingent coupon $0.4338 per $10 Note in examples). If not called and the final level is below the downside threshold (shown as $60.00, or 60.00% of the initial level), principal repayment at maturity may be reduced pro rata and investors could lose a significant portion or all of their investment. All payments are subject to UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to ADRs of Taiwan Semiconductor Manufacturing Company Limited with expected trade and settlement dates of May 15, 2026 and May 19, 2026, and a final valuation and maturity around November 17, 2027 and November 19, 2027.

The notes pay a periodic contingent coupon only if the underlying ADR closes at or above the coupon barrier on observation dates and will be automatically called early if the ADR closes at or above the initial level on any pre-final observation date. If not called, repayment at maturity is contingent: full principal is returned only if the final level is at or above the downside threshold; if below, principal is reduced pro rata to the underlying return and investors may lose a significant portion or all of their investment. The notes are unsecured debt of UBS and any payments are subject to UBS's credit risk.