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

UBS AG is offering Step Down Trigger Autocallable Notes linked to the least performing of the Russell 2000 and the EURO STOXX 50. The Notes have a $1,000 principal per Note, a stated call return rate of 11.05% per annum and a maturity date of May 23, 2031, with quarterly observation dates beginning after the trade date. 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 call price. If not called, repayment at maturity is contingent: full principal is paid only if each final level is at or above its downside threshold (equal to 75% of initial levels); otherwise holders suffer a loss equal to the decline of the least performing underlying asset. Payments depend on UBS creditworthiness. Final terms and pricing will be set on the trade date and delivered in the final pricing supplement.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index with a term of approximately five years and a principal amount of $1,000 per Note. The Notes pay a contingent coupon at a 16.00% per annum rate only on observation dates when the index closes at or above a coupon barrier and are callable monthly beginning after 12 months.

The Notes repay principal at maturity only if the final index level is at or above a downside threshold (equal to 50.00% of the initial level); otherwise holders suffer a loss equal to the index decline. The Notes are unsecured obligations of UBS and subject to UBS credit risk. Trade and settlement are expected on May 18, 2026 and May 21, 2026, with final valuation on May 19, 2031 and maturity on May 22, 2031. The estimated initial value range is $937.20 to $967.20 per Note; the issue price includes underwriting and other costs.

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 shares of the State Street® Technology Select Sector SPDR® ETF due on or about May 20, 2031. The Notes pay a contingent coupon only when each underlying asset meets its coupon barrier on an observation date and are callable monthly by UBS beginning after approximately three months; if not called, principal repayment at maturity depends on whether the final level of each underlying asset is at or above its downside threshold. The example terms show a $1,000.00 issue price per Note, a 13.00% per annum contingent coupon rate in the examples, estimated initial value range of $957.20 to $987.20, and downside thresholds at 55.00% and coupon barriers at 70.00% of initial levels. The Notes are unsecured obligations of UBS and carry credit, market, liquidity and structural risks, including potential loss of a significant portion or all of principal if the least performing underlying asset declines below its downside threshold.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of United Airlines Holdings, Inc. The notes mature on or about November 24, 2027, pay contingent coupons only if observation-date levels meet a coupon barrier, and may be automatically called early if a call threshold is met. Principal repayment at maturity is contingent: if the final level is below the downside threshold you would suffer a loss equal to the underlying return; in extreme cases you could lose all principal. The contingent coupon rate range is 16.25% to 17.25% per annum. Payments are subject to UBS credit risk and the final terms (including the exact initial level and coupon rate) will be set on the trade date.

UBS AG is offering $2,724,000 of Enhanced Trigger Jump Securities with an auto-callable feature due May 11, 2028, linked to the common stock of Bloom Energy Corporation. Each security has a stated principal amount of $1,000.00 and an issue price of $1,000.00.

The securities pay no interest and may be automatically redeemed early if the underlying stock closes at or above the call threshold level of $261.03 on any determination date; early redemption pays the stated principal plus a predetermined premium. If not called, a final payment of $2,045.00 per security is payable at maturity only if the final price is at least $156.62 (60% of the initial price). If the final price is below $156.62, holders receive a cash value tied to the final stock price and can lose a significant portion, or all, of their principal. All payments are subject to UBS AG's credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Salesforce, Inc. common stock due May 14, 2029. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets a coupon barrier; they are automatically called early if the underlying equals or exceeds the initial level on any quarterly observation (beginning after six months). If not called, repayment at maturity is contingent: if the final level is at or above the downside threshold you receive the $10 principal; if below, you suffer a loss equal to the underlying return and could lose your entire investment. Any payments depend on UBS’s creditworthiness. Trade date is May 12, 2026 and estimated initial value per Note was $9.66.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Salesforce, Inc., with expected trade date May 12, 2026, settlement May 14, 2026, final valuation date May 10, 2029 and maturity May 14, 2029.

The Notes pay a contingent coupon on each coupon payment date only if the underlying closing level on the applicable observation date meets or exceeds a coupon barrier; they 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 on the final level relative to a downside threshold and could result in a loss of principal equal to the underlying return. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk. The estimated initial value per Note on the trade date is expected between $9.36 and $9.61. 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 the common stock of Dow Inc. The Notes pay periodic contingent coupons only if the underlying closing level on each observation date is at or above a coupon barrier and will be automatically called early if the underlying closes at or above the initial level on any non‑final observation date.

If not called, principal repayment at maturity (May 15, 2028) 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 and could lose all principal. All payments depend on UBS's creditworthiness. Minimum purchase is 100 Notes at $10 per Note; the estimated initial value was $9.36.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc. The preliminary terms set a trade date of May 12, 2026, final valuation date May 11, 2028 and maturity on May 15, 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 are automatically called early if the underlying closes at or above the initial level on any observation date. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above a disclosed downside threshold (example: $60.00, 60% of initial level); if below, repayment declines in line with the underlying return and investors may lose a significant portion or all principal. The estimated initial value per Note on the trade date is between $9.06 and $9.31, as determined by UBS’ internal models. All payments are subject to UBS credit risk.

UBS AG is offering $1,483,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Snowflake Inc. common stock due May 11, 2029. The Notes pay a 19.80% per annum contingent coupon monthly if the underlying meets a coupon barrier and are callable quarterly beginning after six months at a call threshold equal to $152.45 (100% of the initial level). If not called and the final level is below the downside threshold of $76.23 (50% of the initial level), repayment is in shares (approximately 6.5595 shares per Note) whose value may be significantly less than principal. The issue price is $1,000 per Note and UBS reports an estimated initial value of $965.50 per Note. All payments are subject to UBS credit risk and the Notes will not be listed on an exchange.

UBS AG is offering $328,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing on May 15, 2028. The Notes pay a contingent coupon only when the underlying closing level on an observation date is equal to or above a coupon barrier and will be automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date.

If not called, repayment at maturity depends on the final level versus a downside threshold: if the final level is at or above the downside threshold you receive the $10 principal per Note; if it is below, principal is reduced pro rata to the underlying return and you could lose a significant portion or all of your investment. Trade and settlement dates are May 12, 2026 and May 14, 2026. The Notes have a minimum investment of 100 Notes ($1,000); the estimated initial value was $9.81 per Note based on UBS internal pricing.

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 12, 2026 sets trade mechanics: trade date May 12, 2026, settlement May 14, 2026, final valuation date May 11, 2028 and maturity May 15, 2028. The Notes pay periodic contingent coupons only when 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 paid if the final level is at or above the disclosed downside threshold; if below, repayment equals $10 x (1 + underlying return), which can produce substantial losses, including loss of the entire principal. The offering minimum is 100 Notes at $10 per Note and the issuer’s credit risk (UBS) applies to all payments. The document gives hypothetical terms and examples, including an illustrative contingent coupon rate of 20.60% (contingent coupon $0.515 per $10 Note) and an estimated initial value range of $9.44 to $9.69 per Note.

UBS AG offers Trigger Callable Contingent Yield Notes due on or about May 20, 2031 linked to the least performing of the S&P 500® Index, the Russell 2000® Index and shares of the State Street Utilities Select Sector SPDR® ETF (XLU). The notes reference a contingent coupon (example: 10.40% per annum) payable only if each underlying meets its coupon barrier on an observation date. The issue price is $1,000.00 per Note with underwriting compensation of $7.00 per Note and estimated initial value range of $954.10 to $984.10 as of the trade date. UBS may call the Notes monthly (beginning after three months); if not called, principal repayment at maturity depends on the final level of the least performing underlying relative to the downside threshold (example downside threshold 65.00% of initial level). Payments are subject to UBS credit risk and potential Swiss resolution powers described herein.

UBS AG offers $2,000,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company, maturing on November 15, 2027. The Notes pay a contingent coupon on each coupon payment date only if the underlying closing level on an observation date is at or above the coupon barrier. The Notes are subject to an automatic call on quarterly observation dates (beginning after six months) if the underlying closes at or above the initial level; an automatic call triggers repayment of 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 will be reduced in proportion to the underlying return and you may lose a significant portion or all of your initial investment. Payments depend on UBS creditworthiness. Trade and settlement dates are May 12, 2026 and May 14, 2026, respectively.

UBS AG is offering $467,000 of Trigger Autocallable Contingent Yield Notes linked to the iSharesMSCI Brazil ETF that mature on May 15, 2028. The Notes pay periodic contingent coupons only if observation-date closes meet the coupon barrier and are automatically called if quarterly observation dates reach or exceed the initial level.

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 ETFreturn, potentially wiping out the principal. All payments are subject to UBS credit risk. The Notes are offered in minimum increments of 100 Notes at $10 per Note, with an estimated initial value per Note of $9.70.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Eli Lilly common stock due on or about November 15, 2027. The Notes pay periodic contingent coupons only if the underlying stock meets a coupon barrier on observation dates and can be automatically called quarterly beginning about six months after trade date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold; a final level below that threshold exposes investors to the negative return of the underlying stock and could result in total loss. The example principal is $10 per Note; the illustrative contingent coupon rate is 7.45% per annum and the estimated initial value range is $9.40–$9.65 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Amazon.com, Inc. common stock with a stated aggregate offering of $8,987,000. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets or exceeds the coupon barrier. The Notes are autocallable quarterly beginning about six months after issue if the underlying closing level on an observation date is at or above the initial level; an automatic call settles at principal plus any contingent coupon and ends the investment. If not called, principal repayment at maturity depends on the final level versus a downside threshold; if the final level is below that threshold, the holder can suffer a loss equal to the underlying return and potentially lose the entire principal. Key dates: trade date May 12, 2026, settlement May 14, 2026, final valuation date May 10, 2029, maturity May 14, 2029. The Notes have a minimum purchase of 100 Notes at $10 per Note; estimated initial value per Note is $9.78. All payments are subject to UBS credit risk.

UBS AG dated a Preliminary Pricing Supplement for $• Trigger Autocallable Contingent Yield Notes linked to the iShares® MSCI Brazil ETF due on or about May 15, 2028. The Notes pay a contingent coupon only if the closing level of the underlying asset meets or exceeds a coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on any quarterly observation date beginning after six months. 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, repayment is reduced pro rata to the underlying return and investors could lose a substantial portion or all of their investment. Payments are subject to the creditworthiness of UBS. The trade date and settlement timetable and final terms will be set on the trade date.

UBS AG is offering $350,000 aggregate of Trigger Autocallable Contingent Yield Notes linked to the Class C capital stock of Alphabet Inc. The Notes mature on May 14, 2027 and pay contingent coupons only when the underlying's closing level on an observation date meets or exceeds a coupon barrier.

If the underlying equals or exceeds the initial level on any observation date prior to maturity, the Notes will be automatically called and investors receive principal plus any contingent coupon on the related call settlement 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 the final level is below the downside threshold, repayment is reduced proportionally and investors can lose most or all of their principal. Payments are subject to UBS credit risk. Trade date is May 12, 2026 with expected settlement May 14, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, with an indicated aggregate offering amount of $3,275,000 and a stated maturity date of May 15, 2028. The Notes pay 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 the final valuation date. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above a downside threshold; otherwise principal is reduced pro rata to the underlying return, potentially resulting in the loss of all principal. All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., as described in a preliminary pricing supplement dated May 12, 2026. The notes are unsubordinated, unsecured debt obligations due on or about May 14, 2029 and include quarterly observation dates (beginning after ~6 months) that can trigger automatic early calls.

The notes pay periodic contingent coupons only if the closing level of the underlying asset on an observation date meets or exceeds a coupon barrier; otherwise no coupon is paid. If not automatically called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the stated downside threshold; if the final level is below that threshold, repayment may be less than principal (equal to $10 x (1 + underlying return)), exposing investors to the underlying asset's downside and UBS credit risk. The document is preliminary and the final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Vistra Corp. stock due May 15, 2028. The Notes pay periodic contingent coupons only when the underlying closing level on an observation date meets or exceeds the coupon barrier and will be 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 on the final level relative to the downside threshold and, if below that threshold, investors suffer a loss equal to the underlying return (potentially losing all principal). Payments (coupons or principal) are subject to the creditworthiness of UBS. Trade and settlement dates are May 12, 2026 and May 14, 2026, respectively. The estimated initial value is $9.85 per Note and the minimum investment is 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. Class C stock due on or about May 14, 2027. The Notes pay a contingent coupon on each coupon payment date only if the underlying’s closing level on the applicable observation date meets or exceeds a coupon barrier.

If the underlying meets or exceeds the initial level on any observation date prior to maturity, the Notes will be automatically called and holders receive principal plus any contingent coupon on the related call settlement date. If not called, repayment at maturity is contingent: if the final level is at or above the downside threshold, holders receive the principal; if below, holders suffer a loss equal to the underlying return, potentially losing all principal. The Notes are unsecured obligations of UBS and repayment is subject to UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Devon Energy Corporation stock. The offering size is stated as $1,252,000. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates; otherwise no coupon is paid.

If an observation date (quarterly, beginning after six months) has the closing level at or above the initial level, the Notes will be automatically called and you will receive principal plus any contingent coupon due on the related call settlement date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment reflects the underlying return and could result in a loss of up to your entire investment. All payments are subject to the creditworthiness of UBS. Trade date is May 12, 2026, settlement May 14, 2026, final valuation date May 10, 2029, maturity May 14, 2029.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, with a trade date of May 12, 2026, expected settlement on May 14, 2026, a final valuation date of May 11, 2028, and maturity on May 15, 2028. Each Note has a principal amount of $10 and a minimum purchase of 100 Notes ($1,000).

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 if the underlying closes at or above the initial level on any prior observation date. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above the downside threshold; otherwise repayment is reduced proportionally to the underlying return, potentially causing large losses. Estimated initial value on the trade date is stated as between $9.53 and $9.78. All payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation due May 15, 2028. 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 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 (50% of the initial level). If the final level is below that threshold, principal is reduced pro rata to the underlying return and investors can incur large losses, including total loss. Trade date is May 12, 2026 and settlement is May 14, 2026. Minimum investment is 100 Notes at $10 per Note; the estimated initial value per Note is $9.74.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp. The notes mature on May 15, 2028 with a final valuation date of May 11, 2028 and an expected trade date of May 12, 2026. The notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier on observation dates; they are automatically called if the underlying equals or exceeds the initial level on a quarterly 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 disclosed downside threshold; if below, repayment falls in proportion to the underlying return and you could lose a substantial portion or all of your investment. Payments are subject to UBS credit risk. Minimum purchase is 100 Notes at $10 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Constellation Energy Corporation stock due May 15, 2028. The notes pay a contingent coupon only when the underlying closing level meets or exceeds a coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on any prior observation date. If not called, repayment at maturity depends on the final level versus a downside threshold; if the final level is below that threshold, principal repayment is reduced in direct proportion to the underlying return and investors could lose part or all of their principal. The notes are unsecured obligations of UBS and any payments are subject to UBS's creditworthiness. Trade date is May 12, 2026, settlement May 14, 2026, final valuation date May 11, 2028, and maturity May 15, 2028.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Devon Energy Corporation due on or about May 14, 2029. The preliminary pricing supplement dated May 12, 2026 describes quarterly observation dates (beginning ~6 months after trade), contingent coupons payable only if the underlying closes at or above a coupon barrier, an automatic call if the underlying closes at or above the initial level on any observation date, and contingent principal repayment at maturity that protects principal only if the final level is at or above a disclosed downside threshold.

The Notes are unsecured obligations of UBS and payments (coupons or principal) depend on both the underlying stock performance and UBS’s credit. Principal is $10 per Note; estimated initial value on the trade date is between $9.30 and $9.55. Key dates include trade date May 12, 2026, settlement May 14, 2026, final valuation date May 10, 2029 and maturity May 14, 2029. The document emphasizes material risks including potential loss of most or all principal if conditions are not met.

The issuer UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. Class C capital stock, maturing May 15, 2028. The Notes pay 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 quarterly observation (beginning ~6 months after trade). If not called, principal is repaid at maturity only if the final level is at or above a disclosed downside threshold; otherwise principal is reduced in direct proportion to the underlying return, and in extreme cases investors could lose all principal. Payments are subject to UBS credit risk. Trade date is May 12, 2026 and settlement is expected May 14, 2026. Minimum investment is 100 Notes at $10 per Note. The document states an estimated initial value of $9.82 per Note as of the trade date.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation due on or about 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 meets or exceeds a specified coupon barrier; otherwise no coupon is paid.

The Notes include an automatic call if the underlying closing level on any observation date before the final valuation date equals or exceeds the initial level; an automatic call pays principal plus any contingent coupon then due. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if below, repayment is reduced pro rata and investors can lose a substantial portion or all principal. Trade date is May 12, 2026, settlement May 14, 2026, final valuation date May 11, 2028. Minimum investment is 100 Notes at $10 per Note and the estimated initial value range is $9.38–$9.63 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Delta Air Lines common stock due May 14, 2027. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds a coupon barrier and will be automatically called early if the underlying closes at or above the initial level on any observation date prior to maturity. 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, holders suffer a loss equal to the underlying return and could lose their entire investment. The Notes are unsecured obligations of UBS and any payment depends on UBS’s creditworthiness. Trade and settlement are expected on May 12, 2026 and May 14, 2026, with final valuation and maturity in May 2027. The estimated initial value per $10 Note is $9.83.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Constellation Energy Corporation due on or about May 15, 2028. This preliminary pricing supplement (dated May 12, 2026) describes notes that pay a contingent coupon only if the underlying stock closes at or above a coupon barrier on observation dates and that may 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 a stated downside threshold; if the final level is below that threshold, holders suffer a loss tied to the percentage decline in the underlying and could lose their entire investment. Payments remain subject to the creditworthiness of UBS. The notes have a $10 principal amount per note, a minimum purchase of 100 notes ($1,000), and an estimated initial value range of $9.43–$9.68 as of the trade date. Trade and settlement timing, observation dates, coupon mechanics, and all final terms will be set on the trade date; this document is subject to the accompanying product supplement and prospectus.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of the underlying asset, maturing May 15, 2028. The Notes pay a contingent coupon on each coupon payment date only if the closing level of the underlying asset on the applicable observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes can be automatically called quarterly beginning after six 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, repayment at maturity depends on the final level relative to the downside threshold: if the final level is below that threshold, holders suffer a percentage loss equal to the underlying return and could lose their entire initial investment. Payments are subject to the creditworthiness of UBS. The Notes have a minimum purchase of 100 Notes at $10 per Note and an estimated initial value of $9.76 as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Class C capital stock of Alphabet Inc., with final terms set on the trade date. The Notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates; they are autocallable quarterly if the underlying equals or exceeds the initial level. If not called, principal repayment at maturity is contingent: if the final level is at or above a stated downside threshold, UBS will repay principal; if the final level is below that threshold, repayment will be reduced in proportion to the underlying return, and investors could lose a significant portion or all of principal. Payments depend on UBS creditworthiness. Key dates include trade date May 12, 2026, settlement May 14, 2026, final valuation date May 11, 2028, and maturity May 15, 2028. The Notes have a $10 principal denomination and an estimated initial value range of $9.44–$9.69 per Note as of the trade date.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Delta Air Lines, Inc. The preliminary pricing supplement dated May 12, 2026 sets a trade date of May 12, 2026, settlement on May 14, 2026, a final valuation date of May 12, 2027, and maturity on or about May 14, 2027.

The Notes pay contingent coupons only if the closing level of the underlying meets or exceeds a coupon barrier on observation dates and are automatically called if the underlying equals or exceeds the initial level on any observation date prior to maturity. If not called, repayment of principal at maturity is contingent: if the final level is below the downside threshold, holders suffer a loss equal to the underlying return and could lose all principal. The Notes are unsecured obligations of UBS and any payments depend on UBS creditworthiness. Minimum purchase is 100 Notes ($1,000); the estimated initial value range is $9.52–$9.77 per Note as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation due May 14, 2029. The Notes pay a contingent coupon only when the underlying closing level on an observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early if the underlying closing level on any observation date prior to the final valuation date is at or above the initial level; in that case UBS pays the principal plus any contingent coupon on the related coupon payment date and the Notes terminate. If the Notes are not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold you receive the principal amount, but if the final level is below the downside threshold you receive an amount that reflects the percentage decline in the underlying (the underlying return), potentially resulting in a substantial loss or complete loss of principal. All payments, including any repayment of principal, are subject to UBS’s creditworthiness. Trade date is May 12, 2026, settlement May 14, 2026, final valuation date May 10, 2029 and maturity May 14, 2029. The estimated initial value per Note is $9.66 and the Notes are offered in minimum increments of 100 Notes (a $1,000 minimum purchase). The Notes are not listed and carry significant liquidity and credit risks; consult the product supplement and prospectus for full terms and risks.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of the referenced underlying asset, with final terms set on the trade date. The Notes pay a contingent coupon only when the underlying 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 quarterly observation date (beginning after six months). If not called, principal repayment at maturity depends on the final level versus the downside threshold and could result in full loss of principal. Payments are subject to UBS credit risk. Trade date: May 12, 2026; settlement: May 14, 2026; final valuation date: May 11, 2028; maturity: May 15, 2028. Minimum investment: $1,000 (100 Notes).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to ServiceNow, Inc. common stock due May 14, 2029. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on specified observation dates and may be automatically called quarterly beginning after six months if the stock closes at or above the initial level. 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 that threshold, the cash payment at maturity declines in direct proportion to the underlying return and may result in a total loss of principal. All payments, including any contingent coupons and any principal repayment, depend on UBS’s creditworthiness. The Notes have a minimum investment of 100 Notes ($1,000), an estimated initial value of $9.58 per $10 Note as of the trade date, and settlement and maturity dates of May 14, 2026 and May 14, 2029, respectively.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, with a trade date of May 12, 2026, expected settlement on May 14, 2026 and maturity on May 14, 2029. The Notes pay periodic contingent coupons only if the underlying's closing level meets the coupon barrier on observation dates and will be automatically called early if the underlying equals or exceeds the initial level on any observation date prior to the final valuation date. If 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 holders suffer a principal loss equal to the underlying return, up to a total loss. The preliminary pricing supplement shows a hypothetical contingent coupon rate of 11.13% per annum, a principal amount of $10 per Note, a downside threshold and coupon barrier of $60.00 (60.00% of the initial level), and an estimated initial value range of $9.37 to $9.62 per Note. Minimum investment is 100 Notes ($1,000). All payments remain subject to UBS credit risk; 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 ServiceNow, Inc. The preliminary pricing supplement dated May 12, 2026 describes quarterly observation dates (beginning ~6 months after trade), a final valuation date of May 10, 2029, and a scheduled maturity of May 14, 2029.

The Notes pay contingent coupons only if the underlying closes at or above a coupon barrier on each observation date and will be automatically called early if the underlying closes at or above the initial level on any quarterly observation date; if called, investors receive principal plus any contingent coupon due. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if below, repayment equals $10 x (1 + underlying return), which can result in a substantial loss, including total loss. The preliminary terms show a minimum investment of 100 Notes ($1,000) and an estimated initial value range of $9.30 to $9.55 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes pay a contingent coupon only when the underlying stock closes at or above a coupon barrier on observation dates and may be automatically called early if the underlying closes at or above the initial level on any observation date.

If not called, principal repayment at maturity depends on the final level relative to a downside threshold: if the final level is below that threshold, repayment may be less than principal and could result in substantial loss, including total loss. Payments are subject to UBS credit risk. Trade date is May 12, 2026, expected settlement May 14, 2026, final valuation date May 11, 2028, maturity May 15, 2028. The Notes are offered in minimum investments of 100 Notes at $10 per Note.

UBS AG offers $100,000 Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. Class C stock. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates, are automatically callable quarterly beginning ~9 months after issuance, and mature on November 15, 2027.

If not called, principal is repaid at maturity only if the final level is at or above a downside threshold; if the final level is below that threshold, repayment declines pro rata with the underlying return and you can lose a substantial portion or all of your investment. Payments are subject to UBS credit risk. Trade and settlement dates are May 12, 2026 and May 14, 2026.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Intel Corporation common stock due May 14, 2027. The Notes pay contingent coupons only if observation‑date closing levels meet the coupon barrier and can be automatically called quarterly after six months if the closing level meets or exceeds the initial level. At maturity, principal is repaid only if the final level is at or above the downside threshold; otherwise repayment falls proportionally with the underlying return and you could lose all of your investment. Payments are subject to UBS credit risk. Trade date is May 12, 2026, settlement on May 14, 2026, final valuation date May 12, 2027 and maturity May 14, 2027.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Class C capital stock of Alphabet Inc., due on or about November 15, 2027. The Notes pay periodic contingent coupons only when the underlying meets a coupon barrier on observation dates and are automatically called early if the underlying closes at or above the initial level on any quarterly observation date (beginning after ~9 months). 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, principal repayment falls proportionally to the underlying return and could result in total loss. The Notes are unsecured obligations of UBS and payments depend on UBS's creditworthiness. Trade and settlement are expected on May 12, 2026 and May 14, 2026, respectively. The preliminary pricing supplement shows a $10 principal amount per Note, minimum investment of 100 Notes, an estimated initial value range of $9.42–$9.67, and illustrative contingent coupon metrics used for examples.

UBS AG is offering preliminary Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, with trade date May 12, 2026, settlement May 14, 2026 and maturity about May 14, 2027. The Notes are principal‑at‑risk instruments with a principal amount of $10 per Note and a minimum investment of 100 Notes ($1,000).

The Notes pay periodic contingent coupons only if the underlying stock closes at or above the coupon barrier on observation dates; they are autocallable quarterly if the underlying closes at or above the initial level. If not called and the final level is below the downside threshold, principal repayment at maturity is reduced pro rata to the underlying return. Estimated initial value is between $9.39 and $9.64 per Note and an example contingent coupon rate shown is 25.90% per annum.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Palantir Technologies Inc. common stock due May 14, 2029. The Notes pay contingent coupons only if the underlying closes at or above a coupon barrier on observation dates; they auto-call quarterly if the underlying closes at or above the initial level. If not called, repayment at maturity is contingent: full principal is paid 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 their entire investment. Payments depend on UBS’s creditworthiness. Trade date is May 12, 2026, settlement May 14, 2026, final valuation date May 10, 2029, and maturity May 14, 2029. Estimated initial value per Note as of the trade date is $9.65 and the Notes are offered in $10 increments.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc. The Notes mature on May 14, 2029 and pay contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates; otherwise no coupon is paid. The Notes may be automatically called on quarterly observation dates (beginning after six months) if the underlying closing level is at or above the initial level, in which case holders receive principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above the downside threshold; if below, holders suffer a loss equal to the underlying return, potentially losing all principal. Payments are subject to the creditworthiness of UBS. Trade date is May 12, 2026, settlement May 14, 2026, final valuation date May 10, 2029.

UBS AG published a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. The notes have a trade date of May 12, 2026, expected settlement May 14, 2026, final valuation date May 10, 2029 and maturity May 14, 2029.

The notes pay periodic contingent coupons only if the underlying closing level meets or exceeds specified barriers on observation dates; they feature an automatic call on quarterly observation dates beginning after ~6 months if the underlying equals or exceeds the initial level. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment reflects the percentage decline in the underlying and you may lose a substantial portion or all principal. The preliminary supplement states an example contingent coupon rate of 14.01% per annum and an example estimated initial value range of $9.35–$9.60 per $10 Note.