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

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Accenture plc, maturing on or about May 15, 2028. The Notes pay contingent coupons only if the underlying's closing level meets the coupon barrier on observation dates and are subject to automatic early call if the underlying meets 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 70.00% downside threshold; a final level below that threshold exposes holders to the percentage decline in the underlying, including possible total loss. Trade date is May 13, 2026 with expected settlement May 15, 2026. Minimum investment is 100 Notes at $10 per Note. The estimated initial value range is $9.27 to $9.52 per Note. Example indicative terms include a hypothetical contingent coupon rate of 20.15% per annum (contingent coupon $0.5038 per $10 Note) and illustrative outcomes showing full downside exposure if final level falls below the threshold. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of ServiceNow, Inc. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates. The Notes may be automatically called quarterly beginning after 12 months if the underlying closes at or above the initial level, in which case holders receive principal plus any contingent coupon due on the call settlement date. If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold, UBS will repay the $10 principal per Note; if below, repayment will reflect the percentage decline in the underlying and could result in a loss of principal. Trade date is May 13, 2026, settlement May 15, 2026, final valuation May 11, 2028, maturity May 15, 2028. The Notes have an estimated initial value of $9.77 per Note and a minimum investment of 100 Notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to shares of the SPDR® Gold Trust with a trade date of May 13, 2026, expected settlement on May 15, 2026, a final valuation date of May 11, 2028, and maturity on May 15, 2028. The notes pay periodic contingent coupons only if the closing level of the underlying on an observation date meets or exceeds a coupon barrier and will be automatically called early if the underlying equals or exceeds the initial level on any quarterly observation date beginning after 12 months. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above an 80.00% downside threshold; if below, principal is reduced pro rata to the underlying return, potentially resulting in a total loss. The example principal amount is $10 per Note and the preliminary estimated initial value range is $9.40 to $9.65.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. The Notes mature on May 15, 2029 with a final valuation date of May 11, 2029 and an expected settlement date of May 15, 2026. The Notes pay a contingent coupon on coupon payment dates only if the underlying closing level on an observation date meets or exceeds the coupon barrier; otherwise no coupon is paid. The Notes may be automatically called on quarterly observation dates beginning about six months after issuance if the closing level is equal to or greater than the initial level; an automatic call pays principal plus any contingent coupon due on the related coupon payment date. If not called, principal repayment at maturity is contingent: if the final level is below the downside threshold, repayment can be reduced proportionally to the underlying return and investors could lose a significant portion or all of their initial investment. The Notes are unsecured obligations of UBS and any payment is subject to UBS’s creditworthiness. Minimum investment is 100 Notes at $10 per Note; the estimated initial value on the trade date was $9.72.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of ServiceNow, Inc. with a scheduled maturity of May 15, 2028. The notes pay contingent coupons only if the underlying meets a coupon barrier on observation dates and are subject to automatic quarterly calls beginning after 12 months if the underlying equals or exceeds the initial level. Principal repayment at maturity is contingent: if the final level is below the downside threshold you may suffer a loss equal to the underlying return; in extreme cases you could lose your entire investment. Trade date is May 13, 2026 with settlement on May 15, 2026. The principal amount per Note is $10, estimated initial value is between $9.39 and $9.64, and payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Chipotle Mexican Grill, Inc. common stock due May 15, 2028. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds the coupon barrier and may 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, principal repayment at maturity is contingent and can result in losses equal to the percentage decline in the underlying (potentially a total loss). The Notes are unsecured obligations of UBS and any payments are subject to UBS credit risk. The Notes have a principal amount of $10 per Note, an estimated initial value of $9.73 per Note as of the trade date, and a minimum purchase of 100 Notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation common stock due May 15, 2028. 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 any observation date. If not called, principal repayment at maturity is contingent: full principal is repaid only if the final level is at or above a disclosed downside threshold; if the final level is below that threshold, redemption will be reduced proportionally to the underlying return and could result in a complete loss of principal. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk. Trade and settlement are May 13, 2026 and May 15, 2026, respectively; final valuation and maturity dates are May 11, 2028 and May 15, 2028. The minimum purchase is 100 Notes ($1,000) and the estimated initial value per Note on the trade date is $9.75.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Snowflake Inc. common stock due May 17, 2027. The Notes pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and are automatically called early if the underlying equals or exceeds the initial level on an observation date.

If not called, repayment at maturity depends on the final level relative to the downside threshold: if the final level is below that threshold, principal repayment is reduced proportionally to the underlying return, potentially resulting in total loss. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Fluor Corporation stock maturing May 15, 2028. 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 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, repayment is reduced proportionally to the underlying return and you could lose a substantial portion or all of your investment. All payments remain subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. The Notes mature on May 15, 2029 with a final valuation date of May 11, 2029. Trade date and settlement are expected on May 13, 2026 and May 15, 2026, respectively. The Notes pay quarterly contingent coupons only if the underlying stock meets the coupon barrier on each observation date and are subject to automatic early call if the underlying equals or exceeds the initial level on any quarterly observation date beginning after six months. 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; if below, repayment equals $10 x (1 + Underlying Return), potentially resulting in substantial or total loss. Minimum investment is 100 Notes ($1,000). The preliminary estimated initial value range is $9.34 to $9.59 per $10 Note. Payments are subject to the creditworthiness of UBS and the final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Chipotle Mexican Grill, Inc. The preliminary pricing supplement dated May 13, 2026 sets final terms on the trade date. Trade date is May 13, 2026, settlement is May 15, 2026, final valuation date is May 11, 2028, and maturity is May 15, 2028.

The Notes pay periodic contingent coupons only if the underlying 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. Principal is repaid at maturity only if the final level is at or above the downside threshold; if below, principal is reduced proportionally to the underlying return.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, due on or about May 15, 2028. The Notes pay contingent coupons only if the underlying closing level meets a coupon barrier on observation dates 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 on the final level relative to a downside threshold (example: $70.00, or 70.00% of the initial level); if the final level is below that threshold, investors suffer a loss tied to the underlying return and could lose all principal. Trade date is May 13, 2026 and expected settlement is May 15, 2026. Minimum purchase is 100 Notes at $10 per Note and the issuer’s estimated initial value range is $9.43 to $9.68 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Snowflake Inc. stock due on or about May 17, 2027. The notes pay contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates and include an automatic call 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; in extreme cases you could lose your entire principal. Trade and settlement are scheduled for May 13, 2026 and May 15, 2026, respectively.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation due on or about May 15, 2028. The Notes pay periodic contingent coupons only if the underlying stock 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. If not called, principal repayment at maturity is contingent: full repayment occurs if the final level is at or above a disclosed downside threshold; if below, repayment falls in direct proportion to the underlying return, potentially causing a loss of up to the entire principal. The issue is unsecured debt of UBS and payments depend on UBS creditworthiness. Key preliminary terms shown include a $10 principal per Note, trade date May 13, 2026, expected settlement May 15, 2026, final valuation date May 11, 2028, maturity May 15, 2028, an example contingent coupon rate of 16.74% per annum and an estimated initial value range of $9.38–$9.63 per Note.

UBS AG is offering $100,000 Trigger Autocallable Contingent Yield Notes linked to DexCom, Inc. stock due May 15, 2028. The Notes pay a contingent coupon on each coupon payment date only if the underlying closing level on the applicable observation date is at or above the coupon barrier; otherwise no coupon is paid. UBS will automatically call the Notes early if the underlying closes at or above the initial level on any observation date prior to final valuation, in which case holders receive principal plus any contingent coupon on the call settlement date. If not called, repayment at maturity depends on the final level versus the downside threshold: if final level is at or above the downside threshold, UBS pays the principal; if below, holders suffer a loss equal to the underlying return and could lose all principal.

The Notes have a trade date of May 13, 2026, settlement date of May 15, 2026, final valuation date of May 11, 2028, and maturity date of May 15, 2028. Minimum purchase is 100 Notes at $10 per Note. The estimated initial value as of the trade date is $9.71 per Note. All payments are subject to UBS credit risk and the Notes will not be listed on an exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of DexCom, Inc. The preliminary pricing supplement dated May 13, 2026 sets a trade date of May 13, 2026, expected settlement on May 15, 2026, a final valuation date of May 11, 2028 and maturity on May 15, 2028.

The Notes pay periodic contingent coupons only when the underlying closing level meets or exceeds a coupon barrier on observation dates, are automatically callable if the underlying meets or exceeds the 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 example shows a $10 principal per Note, a hypothetical contingent coupon rate of 15.70% per annum and an estimated initial value range of $9.40 to $9.65 per Note.

Investors face both issuer credit risk of UBS and full downside market exposure to DexCom’s stock if the Notes are not called and the final level is below the downside threshold. The Notes are not bank deposits and are not FDIC insured.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to MGM Resorts International common stock. The Notes pay a contingent coupon only when the underlying closing level on an observation date meets or exceeds 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 is repaid at maturity only if the final level is at or above the downside threshold; if below, repayment at maturity will be reduced proportionally to the underlying return and you could lose a significant portion or all of your investment. The Notes trade on a minimum investment of 100 Notes at $10 per Note; key dates include trade date May 13, 2026, settlement May 15, 2026, final valuation date May 11, 2028, and maturity May 15, 2028.

The issuer UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation, maturing May 15, 2028. The Notes pay a contingent coupon on scheduled coupon 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 closes on or above the initial level on any observation date prior to the final valuation date; if called, UBS pays 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 below the downside threshold you will incur a loss equal to the underlying return and could lose all principal. Payments are subject to UBS creditworthiness. Trade date is May 13, 2026 and settlement is May 15, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Lam Research common stock due on or about May 15, 2028. 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 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 the downside threshold; otherwise repayment falls in direct proportion to the underlying return, potentially resulting in a total loss. Trade date is May 13, 2026 with settlement expected May 15, 2026. The preliminary estimated initial value per $10 Note is between $9.42 and $9.67, and the example contingent coupon shown is 19.41% per annum ($0.4853 per $10 Note per coupon period). All payments are subject to UBS creditworthiness and final terms will be set on the trade date.

UBS AG is marketing Trigger Autocallable Contingent Yield Notes linked to the common stock of MGM Resorts International with expected trade date May 13, 2026, settlement May 15, 2026 and maturity on or about May 15, 2028.

The Notes pay periodic contingent coupons only if the underlying's closing level on each observation date equals or exceeds a coupon barrier; they autocall 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, and investors may lose a substantial portion or all principal. The estimated initial value range is $9.40 to $9.65 per $10 Note and minimum investment is 100 Notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Palantir Technologies Inc. common stock due May 15, 2028. The notes pay a contingent coupon on each coupon payment date only if the underlying closing level on the applicable observation date is at or above the coupon barrier; otherwise no coupon is paid. The notes are 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 that case UBS pays principal plus any contingent coupon and the notes terminate. If not called, repayment at maturity depends on the final level relative to the downside threshold: if the final level is at or above the downside threshold you receive principal; if below, you receive an amount equal to $10 times (1 + underlying return), which can result in substantial loss or a total loss of principal. The notes are unsecured obligations of UBS and payments are subject to UBS creditworthiness. Trade date is May 13, 2026, settlement May 15, 2026, final valuation date May 11, 2028, maturity May 15, 2028. The estimated initial value on the trade date is $9.72.

The issuer UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Diamondback Energy, Inc. The Notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier on observation dates and may be automatically called early if the underlying meets 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; if the final level is below that threshold the cash payment may be less than principal and can result in full loss of principal. The Notes have trade date May 13, 2026, expected settlement May 15, 2026, final valuation date May 11, 2028 and maturity May 15, 2028. The estimated initial value was $9.68 per Note; principal amount is $10 per Note. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Intel Corporation common stock due May 15, 2028. The Notes pay a contingent coupon only when the underlying closing level on an observation date meets or exceeds a coupon barrier and will be automatically called early if the underlying closing level on any prior observation date is equal to or greater than the initial level. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the downside threshold; if below, the cash payment equals $10 x (1 + underlying return), which can result in a loss of all principal. Payments depend on UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. with a final valuation date of May 11, 2028 and a maturity date of May 15, 2028. The Notes pay periodic contingent coupons only if observation-date closing levels meet or exceed a coupon barrier and include an automatic call if the underlying equals or exceeds the initial level on an observation date. Principal repayment at maturity is contingent: if the final level is below the downside threshold, repayment is reduced and may result in a loss of principal. Trade date is May 13, 2026 with expected settlement on May 15, 2026. The Notes are unsecured obligations of UBS and any payments depend on UBS's creditworthiness. This document is a preliminary pricing supplement and final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Vistra Corp. common stock due May 15, 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 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, repayment is reduced pro rata to the underlying return and you may lose a significant portion or all of your investment. The Notes are unsecured obligations of UBS and any payments, including principal, are subject to UBS's creditworthiness.

UBS AG is offering preliminary terms for Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, with a trade date of May 13, 2026, expected settlement May 15, 2026 and maturity on May 15, 2028. The Notes pay contingent coupons only when the closing level of the underlying stock on an observation date meets or exceeds a coupon barrier and are automatically called if the underlying equals or exceeds the initial level on any observation date prior to the final valuation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment is reduced pro rata to the underlying return, with potential loss of the entire principal. The preliminary pricing range shows an estimated initial value between $9.38 and $9.63 per $10 note and examples use a hypothetical contingent coupon rate of 26.42% per annum (contingent coupon $0.6605). Payments are subject to UBS credit risk and final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of V.F. Corporation that mature on May 15, 2028. The notes pay a periodic contingent coupon only if the underlying stock closes at or above a coupon barrier on observation dates and will 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 is contingent: if the final level is at or above the downside threshold the principal amount is returned; 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's credit risk. Trade and settlement dates are May 13, 2026 and May 15, 2026, respectively.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp. with trade date May 13, 2026, expected settlement May 15, 2026, final valuation date May 11, 2028 and maturity May 15, 2028. The Notes pay periodic contingent coupons only if the underlying closes at or above the coupon barrier on each observation date and are subject to early automatic call if the underlying closes at or above the initial level on any observation date. If not called, principal repayment at maturity is contingent: full principal is paid 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 all principal. Estimated initial value per Note is between $9.41 and $9.66. The Notes are unsecured obligations of UBS and repayment is subject to UBS creditworthiness.

UBS AG is marketing a preliminary pricing supplement dated May 13, 2026 for Trigger Autocallable Contingent Yield Notes linked to the common stock of Diamondback Energy, Inc. The Notes pay periodic contingent coupons only if the underlying stock closes at or above the coupon barrier on observation dates and are subject to an automatic 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: if the final level is at or above the downside threshold you receive the $10 principal per Note; if below the downside threshold you receive $10 multiplied by (1 + underlying return), which can result in a substantial loss, including total loss of principal.

The trade date is May 13, 2026, settlement date is May 15, 2026, final valuation date is May 11, 2028, and maturity is May 15, 2028. The Notes are denominated at $10 per Note with a minimum investment of 100 Notes. The estimated initial value range on the trade date is between $9.36 and $9.61 per Note as determined by UBS’ internal pricing models. All payments are subject to UBS credit risk; the Notes will not be listed on an exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc. The Notes mature on May 15, 2028 with a final valuation date of May 11, 2028.

The Notes pay periodic contingent coupons only if the underlying closing level on an 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 is repaid at maturity only if the final level is at or above the downside threshold; otherwise, repayment at maturity declines in proportion to the underlying return and could result in the loss of the entire principal. Payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of V.F. Corporation due on or about May 15, 2028. The preliminary pricing supplement describes notes that pay periodic contingent coupons only if the underlying stock closes at or above a specified coupon barrier on observation dates and that are automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date.

Key timing and structural points in this excerpt: trade date May 13, 2026, settlement date May 15, 2026, final valuation date May 11, 2028, and maturity ~May 15, 2028. The offering has a $10 principal per Note, a minimum investment of 100 Notes ($1,000), an estimated initial value range of $9.35 to $9.60 per Note, a sample contingent coupon rate of 22.70% per annum (sample coupon $0.5675 per $10 Note), and a sample downside threshold of $65.00 (65.00% of the initial level). Any repayment of principal is contingent on UBS’s creditworthiness; if the final level is below the downside threshold and the Notes are not called, holders face full downside exposure and could lose a significant portion or all of their investment.

UBS AG proposes $• Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc. The Notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates, may be automatically called early if the underlying equals or exceeds the initial level, and repay principal at maturity only if the final level is at or above a stated downside threshold. Trade date is May 13, 2026 with expected settlement on May 15, 2026, final valuation date May 11, 2028 and maturity May 15, 2028. Principal amount per Note is $10. The document warns investors they may lose a significant portion or all of their investment if the Notes are not called and the final level falls below the downside threshold; payments are subject to UBS credit risk.

UBS AG is marketing Capped Leveraged Buffered S&P 500® Index-Linked Medium-Term Notes with a face amount of $1,000 per note and a term expected to be between 20 and 23 months. The notes pay no interest; final cash payment at maturity depends on the S&P 500® closing level on a determination date and is subject to a cap and a 12.50% buffer. Investors participate in 130.00% of positive underlier returns up to a maximum settlement amount expected to be between $1,214.11 and $1,251.81 per $1,000. If the final underlier level declines by more than 12.50% below the initial level, investors incur leveraged losses (about 1.1429% loss of face per 1% decline below the buffer) and could lose their entire investment. The estimated initial value on the trade date is expected to be between $966.30 and $996.30 per $1,000, reflecting hedging and issuance costs above the issue price.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000® and the S&P 500®. The notes have an expected term of approximately 12 months, quarterly observation dates and a contingent coupon rate of 9.50% per annum (contingent coupon of $23.75 per quarter per $1,000 note). The notes may be automatically called if both indices meet a call threshold of 100.00% of their initial levels on an observation date. Principal repayment at maturity is contingent: if a trigger event occurs (an index falls below its downside threshold of 60.00% during the observation period), final repayment may be reduced pro rata to the negative return of the least performing index, potentially resulting in a total loss of principal. Key trade and lifecycle dates include trade date May 19, 2026, settlement May 22, 2026, final valuation May 19, 2027 and maturity May 24, 2027. Estimated initial value range is $961.30 to $991.30 and the issue price is $1,000.00 per note. The notes are unsecured obligations of UBS and subject to its credit risk.

UBS AG is offering Trigger Autocallable Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 and the S&P 500. Each Note has a $1,000 principal amount; quarterly observation dates beginning ~12 months after issue, a final valuation date of May 29, 2031 and maturity on June 3, 2031.

The Notes pay no interest and are automatically called if on any observation date the closing level of each underlying asset is at or above its call threshold (90% of its initial level). If called, holders receive a call price equal to principal plus a call return based on an annual call return rate shown on the cover (example here: 8.25% per annum). If not called and any underlying asset closes below its downside threshold (75% of initial level) on the final valuation date, payment at maturity is reduced pro rata by the percentage decline of the least performing underlying asset, possibly resulting in a substantial or total loss. Payments are unsecured obligations of UBS and depend on UBS creditworthiness.

UBS AG is offering Trigger Callable Contingent Yield Notes due May 17, 2029 linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. The issue price is $1,000 per Note and the aggregate offering is $936,000. The Notes pay a periodic contingent coupon of 10.00% per annum only if each underlying index is at or above its coupon barrier on an observation date; otherwise no coupon is paid for that period. UBS may call the Notes in whole on monthly observation dates beginning after six months; if called the holder receives principal plus any contingent coupon then due. If not called, at maturity holders receive $1,000 if each final index level is at or above its downside threshold, but if any final index level is below its downside threshold the redemption equals $1,000 × (1 + underlying return of the least performing underlying asset), which can result in substantial loss up to a total loss of principal. Payments on the Notes are subject to UBS credit risk.

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 pay a contingent coupon of 10.00% per annum on a coupon date only if each underlying asset is at or above its coupon barrier on the related observation date. UBS may call the Notes in whole on any observation date beginning after six months. At maturity, principal repayment is contingent: if every underlying asset is at or above its downside threshold you receive $1,000 per Note; if any underlying asset is below its downside threshold repayment is reduced according to the least performing underlying asset subject to a 15.00% buffer. The estimated initial value range is $961.60–$991.60. All payments are subject to UBS credit risk 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 S&P 500® Index and the Russell 2000® Index due on or about May 28, 2031. The Notes pay a 10.15% per annum contingent coupon only when each underlying asset meets its coupon barrier on an observation date; otherwise no coupon is paid. UBS may call the Notes monthly (beginning after ~3 months). At maturity, if any final level is below its downside threshold (60.00% of initial level), principal is reduced proportionally to the loss of the least performing underlying asset; in extreme cases you could lose all principal. Payments depend on UBS creditworthiness. The issue price is $1,000.00 per Note; estimated initial value range is $961.70 to $991.70 per Note.

UBS AG is offering Step Down Trigger Autocallable Notes linked to the least performing of the Russell 2000®, the S&P 500® and the EURO STOXX 50®, due on or about May 16, 2031. The Notes have an expected issue price of $10.00 per Note (minimum investment $1,000) and quarterly observation dates beginning after 12 months. If on any observation date the closing level of each underlying asset is at or above its call threshold, UBS will automatically call the Notes and pay the applicable call price (principal plus a call return that increases with term). If not called, repayment at maturity is contingent: holders receive $10 × (1 + underlying return of the least performing underlying asset), which can result in substantial principal loss, including a total loss. Payments are subject to UBS creditworthiness. Trade and settlement dates shown are May 13, 2026 and May 18, 2026, respectively.

UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100® with a scheduled maturity on or about June 1, 2029. The notes pay a contingent coupon of 8.50% per annum only when each underlying's closing level on an observation date is at or above its coupon barrier (85% of initial level). UBS may call the notes in whole on quarterly observation dates beginning after six months; if not called, repayment at maturity depends on whether the final level of the least performing underlying asset is below its downside threshold (70% of initial level), subject to a 15% buffer. The issue price is $1,000.00 per note, underwriting discount is $15.00 per note, and proceeds to UBS are $985.00 per note. The estimated initial value range is $946.80 to $976.80 as of the trade date.

The prospectus warns of significant risks: potential loss of some or almost all principal if the final level of any underlying asset is below its downside threshold; contingent coupons may not be paid; secondary market liquidity may be limited; and credit risk of UBS applies to all payments. Investors should review the accompanying product supplement, index supplement and prospectus for full terms and tax considerations.

UBS AG is offering Trigger Callable Yield Notes with Daily Close Monitoring Knock-In linked to the least performing of the Nasdaq-100, Russell 2000 and EURO STOXX 50 indices, with monthly coupons and an issuer call feature.

The Notes pay a fixed coupon of 13.65% per annum (coupon = $11.375 per monthly payment on a $1,000 principal), are callable monthly beginning after five months, have an observation period from the strike date to the final valuation date, a downside threshold equal to 70.00% of each Initial Level, an estimated initial value range of $966.40–$996.40 and an expected maturity of November 18, 2027. At maturity holders face contingent repayment of principal tied to the least performing underlying asset and are exposed to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the Nasdaq-100® Technology Sector. The Notes pay a contingent coupon of 9.55% per annum only when both underlyings meet coupon barriers on observation dates, are callable monthly beginning after six months, and mature on May 23, 2029. If not called, principal is repaid at maturity only if each underlying is at or above its downside threshold (60.00% of initial level); otherwise repayment falls with the least performing underlying (possibly to zero). Issue price is $1,000 per Note; estimated initial value range is $961.60–$991.60. Payments are subject to UBS credit risk and the final terms will be set on the strike date.

UBS AG offers Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the Russell 2000® Index and the S&P 500® Index, due on or about June 1, 2029. The notes pay a periodic contingent coupon only if both underlyings meet coupon barriers on observation dates and are subject to an automatic call if both underlyings meet call thresholds on an observation date. Trade date is May 29, 2026 with expected settlement on June 3, 2026. Principal is $1,000 per note and any repayment of principal at maturity is contingent on the final performance of the least performing underlying asset; if that underlying is below its downside threshold at maturity, investors will suffer a loss equal to that underlying's decline. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to American Airlines Group Inc. common stock due on or about November 18, 2027. The Notes pay a contingent coupon of 15.45% per annum on scheduled coupon dates only if the underlying closing level meets the coupon barrier, and include a memory feature that can carry unpaid coupons forward. The Notes are callable quarterly (beginning after six months) if the underlying meets the call threshold; if not called, principal repayment at maturity depends on the final level relative to a downside threshold (50% of the initial level), exposing holders to full downside market risk. Payments are subject to UBS credit risk. The issue price per Note is stated as $1,000 with an estimated initial value range of $946.70–$976.70.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the Nasdaq-100® Technology Sector due on or about April 24, 2028. The notes pay a contingent coupon (stated example 12.80% per annum) only when each underlying closes at or above its coupon barrier on observation dates; otherwise no coupon is paid.

The notes are callable monthly by UBS beginning after ~3 months; if not called, principal repayment at maturity depends on the final level of the least performing underlying asset relative to a 70.00% downside threshold, and a decline below that threshold can result in principal loss up to the full investment. Payments are subject to UBS credit risk and the estimated initial value is shown between $959.00 and $989.00 per $1,000 issue price in the preliminary terms.

UBS AG offers Trigger Autocallable Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 and S&P 500. The Notes have a principal amount of $1,000 per Note, a term of approximately 5 years, quarterly observation dates beginning after 12 months, a trade date of May 29, 2026, and a maturity date of June 3, 2031. The Notes will automatically call if the closing level of each underlying asset on an observation date is equal to or above its call threshold (90.00% of its initial level). If called, investors receive the principal plus a pre-specified call return (10.25% per annum, increasing on later observation dates). If not called and the final level of any underlying asset is below its downside threshold (75.00% of initial level), repayment at maturity will be reduced pro rata based on the percentage decline of the least performing underlying asset; in extreme cases investors could lose all principal. Payments are subject to UBS credit risk. The estimated initial value range is $956.10–$986.10 per Note; issue price includes underwriting, hedging and other costs.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the S&P 500® Index, the State Street® Technology Select Sector SPDR® ETF (XLK) and the State Street® Utilities Select Sector SPDR® ETF (XLU). The notes have a contingent coupon rate of $13.00% per annum and are callable monthly beginning after three months. Key dates: strike May 13, 2026, trade May 14, 2026, settlement May 19, 2026, final valuation May 14, 2029, maturity May 17, 2029. Payments depend on observed closing levels relative to call threshold, coupon barrier and downside threshold percentages (100%, 80%, 65% of initial levels respectively). Issue price per note is $1,000.00; UBS discloses an estimated initial value range of $962.00 to $992.00 per note. The notes are unsecured obligations of UBS and repayment is subject to UBS credit risk; if not called and the least performing underlying is below its downside threshold, holders may suffer substantial or total loss of principal.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. The Notes pay a contingent coupon (13.60% per annum) only if each index closes at or above its coupon barrier on every trading day in an observation period. The Notes have a $10 principal per Note, are callable by UBS on quarterly observation end dates, and mature on May 16, 2029. Initial levels (strike date May 12, 2026) are NDX 29,064.80, RTY 2,842.831, and SPX 7,400.96, with coupon barriers at 70% and downside thresholds at 60% of those initial levels. The estimated initial value range is $9.60–$9.90 and the issue price is $10.00 (underwriting discount $0.05, proceeds to UBS $9.95 per Note). Payments (including any principal repayment) are subject to UBS creditworthiness; if the final level of the least performing underlying is below its downside threshold, maturity repayment may be substantially less than principal, up to a total loss.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of Tesla, Inc. and NVIDIA Corporation, due on or about May 18, 2028. The notes pay a contingent coupon (example: 25.25% per annum) only if each underlying meets its coupon barrier on observation dates; otherwise no coupon is paid. UBS may call the notes monthly beginning roughly three months after issuance. If not called and any underlying's final level is below a downside threshold (example: 60.00% of its initial level), repayment at maturity will reflect the percentage decline of the least performing underlying and could result in a substantial loss, including total loss of principal. The issue price per note is $1,000.00 with an example underwriting discount of $6.50 and estimated initial value range of $935.60 to $965.60. The notes are unsecured obligations of UBS and are subject to UBS credit risk, limited liquidity, potential conflicts of interest, and uncertain U.S. federal income tax treatment.