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

UBS AG offers $350,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Valero Energy Corporation due May 14, 2027. The Notes pay contingent coupons only if the underlying meets a coupon barrier on observation dates and are automatically called early if the closing level equals 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 a downside threshold (example: $75.00, 75% of initial level); otherwise repayment is reduced pro rata and investors may lose a substantial portion or all principal. Trade date is May 12, 2026 with settlement May 14, 2026. Minimum investment is 100 Notes ($1,000). Estimated initial value per Note was $9.78 on the trade date. Payments are subject to UBS credit risk.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Valero Energy Corporation, due on or about May 14, 2027. 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 closes at or above 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 the downside threshold; otherwise repayment is reduced pro rata to the underlying return and investors can lose a significant portion or all principal. The issue size terms are set on the trade date; minimum investment is 100 Notes ($1,000). Trade and settlement are expected on May 12, 2026 and May 14, 2026, respectively. The estimated initial value range is $9.46 to $9.71 per Note as of the trade date. Investing in the Notes involves issuer credit risk of UBS and material market exposure to Valero; read the Key Risks and Product Supplement for full terms.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc. The Notes pay a periodic contingent coupon only if the underlying closes at or above the coupon barrier on observation dates and may be automatically called quarterly beginning after nine months if the underlying closes at or above the initial level. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment is reduced proportionally to the underlying return and investors can lose a significant portion or all of principal. Trade and settlement are May 12, 2026 and May 14, 2026; final valuation and maturity are November 11, 2027 and November 15, 2027. The Notes have a minimum purchase of 100 Notes ($1,000), an estimated initial value of $9.72 per Note, and all payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Amazon.com, Inc. due on or about November 15, 2027. The notes pay a contingent coupon on each coupon payment date only if the underlying closing level meets or exceeds a coupon barrier on the related observation date; otherwise no coupon is paid.

The notes are subject to an automatic call beginning after approximately nine months if the underlying closing level on any quarterly observation date is equal to or greater than the initial level, in which case UBS pays the principal plus any contingent coupon on the call settlement date. If not called, principal is protected at maturity only if the final level is at or above the disclosed downside threshold; if the final level is below that threshold, principal is repaid proportionally to the underlying return and you may lose a significant portion or all of your investment. All payments are subject to UBSs creditworthiness. Trade date is May 12, 2026 and estimated initial value per $10 note is between $9.42 and $9.67.

UBS AG issued a pricing supplement for $6,050,000 of Contingent Income Auto-Callable Securities with Memory Coupon and Daily Coupon Observation due May 11, 2029. Each $1,000 security pays a contingent payment of $30.25 (12.10% per annum) for an observation period only if all three indices stay at or above 80% of their initial levels on every trading day of that period. The securities are auto-callable early if all indices are at or above 100% on an observation end date. At maturity investors receive principal plus any due contingent payments only if all final index levels are at or above 65% of initial levels; otherwise payout tracks the worst performing index and could result in substantial loss, including total loss. Payments are unsecured obligations of UBS AG and subject to UBS credit risk. The estimated initial value at pricing was $943.90 and the issue price was $1,000.00 per security.

UBS AG is offering $5,866,000 principal amount of Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100® Technology Sector. The notes pay a contingent coupon of 13.05% per annum on observation dates only if each underlying asset is at or above its coupon barrier; otherwise no coupon is paid. UBS may call the notes monthly beginning after three months. At maturity on May 11, 2029, if any underlying asset's final level is below its 70.00% downside threshold, holders will suffer a loss linked to the least performing underlying asset and could lose all principal. Payments are subject to UBS credit risk.

UBS AG priced a capped, leveraged basket-linked medium-term note offering. The notes have a $1,000 face amount (aggregate offered $19,989,000) and pay no interest. Payout at the stated maturity depends on an unequally-weighted basket of five indices measured from the trade date May 8, 2026 to the determination date August 5, 2027. The upside participation rate is 300.00% with a cap level of 107.80% of the initial basket level and a maximum settlement amount of $1,234.00 per $1,000. If the final basket level is below the initial level, you lose 1% of face amount for every 1% negative basket return and may lose your entire investment. The estimated initial value on the trade date was $985.00 per $1,000, while the issue price was 100.00% of face. Purchases at prices other than face affect investor returns and the cap’s impact.

UBS AG offers Trigger Autocallable Notes linked to the MSCI® Emerging Markets Index due on or about May 20, 2031. Each Note has a principal amount of $10, quarterly observation dates beginning after 12 months, and an automatic call if the index closing level is at or above the call threshold (set at 100.00% of the Initial Level). If called, holders receive the principal plus a call return; the call return increases the longer the Notes remain outstanding. If not called and the final level is below the downside threshold (set at 75.00% of the Initial Level), payment at maturity is reduced pro rata and holders may lose a significant portion or all of their investment. The call return rate will be set on the trade date (range disclosed 10.30% to 11.30% per annum), and the estimated initial value range is $9.399 to $9.699 per Note as of the trade date. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of The Boeing Company (BA), with a contingent coupon of 11.25% per annum and an approximate maturity date of May 24, 2029. The notes are unsubordinated, unsecured obligations of UBS and pay contingent coupons only if the underlying closes at or above a specified coupon barrier on observation dates; they may autocall quarterly beginning ~6 months after issuance if the underlying equals or exceeds a call threshold. If not called and the final level is below the downside threshold, principal repayment at maturity is reduced proportionally to the underlying return, exposing holders to potential significant or total loss. The issue price is $1,000 per Note; the estimated initial value range on the trade date is $944.50 to $974.50. All payments, including any principal at maturity, depend on UBS creditworthiness.

UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 and shares of the State Street Technology Select Sector SPDR ETF (XLK). Each Note has a principal amount of $1,000, a 20.00% buffer and a contingent coupon of 13.30% per annum if, on an observation date, the closing level of each underlying asset is at or above its coupon barrier. UBS may call the Notes in whole on any monthly observation date beginning after approximately three months. If UBS does not call the Notes and the final level of any underlying asset is below its downside threshold, principal repayment at maturity is contingent and can result in substantial or total loss; payment at maturity equals $1,000 × (1 + underlying return of the least performing underlying asset + buffer). Trade date is May 29, 2026, expected settlement June 3, 2026, final valuation date May 29, 2029 and maturity June 1, 2029. The estimated initial value range is $957.40 to $987.40 per Note. All payments are subject to UBS credit risk and there may be little or no secondary market.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000®, S&P 500® and EURO STOXX 50®. The offering totals $29,688,200 at an issue price of $10.00 per Note with an estimated initial value of $9.91. The Notes have a term of approximately three years (trade date May 11, 2026; maturity May 15, 2029) and pay contingent coupons only when each underlying index stays at or above its coupon barrier during an observation period. If UBS elects to call the Notes on an observation end date, holders receive principal plus any contingent coupon on the call settlement date. If UBS does not call the Notes and the final level of any underlying asset is below its downside threshold, the maturity payment will be reduced and may result in substantial loss, up to a total loss of principal. All payments, including repayment of principal, are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable GEARS linked to Alphabet Inc. Class A common stock. The securities are unsubordinated, unsecured debt obligations with an expected term of approximately three years and final terms set on the trade date.

Key economic features shown include a call return rate of 20.50%, an upside gearing of 1.30 to 1.50, an autocall barrier equal to 100% of the initial level and a downside threshold equal to 75% of the initial level. Minimum purchase is 100 Securities at $10 per Security ($1,000). Payments (including any principal) depend on UBS' creditworthiness and there may be little or no secondary market.

UBS AG is offering preliminary terms for Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Tesla, Inc. The Notes have a nominal principal amount of $1,000 per Note, a contingent coupon of 14.30% per annum, quarterly observation dates (callable after six months), a final valuation date of May 21, 2029 and a scheduled maturity of May 24, 2029.

The Notes will automatically call early if the underlying closing level on an observation date meets or exceeds the call threshold (set at 100.00% of the initial level). 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 (set at 50.00% of the initial level); otherwise you suffer a loss equal to the underlying return and could lose all principal. The issue price per Note is $1,000.00 with underwriting compensation of $15.00 and estimated initial values between $944.60 and $974.60 on the trade date.

UBS AG is offering two separate series of Trigger Autocallable Contingent Yield Notes linked to the common stock of Cisco Systems, Inc. and Diamondback Energy, Inc. The Cisco series totals $2,020,000 and the Diamondback series totals $2,330,000, each due May 11, 2029. The notes pay contingent quarterly coupons only if observed closing levels meet specified coupon barriers and may be automatically called beginning about six months after issuance. Contingent coupon rates are 9.00% p.a. for the Cisco note and 10.00% p.a. for the Diamondback note. Principal repayment at maturity is contingent: if the final closing level is below the downside threshold, holders suffer a loss equal to the underlying return and could lose all principal. The estimated initial per-note values are $9.655 (Cisco) and $9.657 (Diamondback); issue price is $10.00 per note. All payments are subject to UBS credit risk and there may be little or no secondary market.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Marvell Technology, Inc. common stock maturing on May 14, 2029. Each Note has a $10 principal amount and pays contingent coupons only when the underlying's closing level meets or exceeds 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. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the downside threshold; otherwise repayment is reduced pro rata to the underlying return and you could lose a significant portion or all of your investment. The offering specifies a minimum purchase of 100 Notes ($1,000), an estimated initial value of $9.67 per Note as of the trade date, and trade/settlement and final valuation/maturity dates of May 11, 2026/May 13, 2026 and May 10, 2029/May 14, 2029, respectively. All payments remain subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to MercadoLibre, Inc. stock due May 13, 2027. The Notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates and may be automatically called early if the underlying reaches 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, repayment falls proportionally to the underlying return, and investors could lose a significant portion or all principal. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation due May 15, 2028. Each Note has a $10 principal amount and the offering requires a minimum purchase of 100 Notes. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early if the underlying closing level on any observation date prior to the final valuation date is equal to or greater than the initial level; an automatic call triggers payment of principal plus any contingent coupon then due and ends the Notes. If not called, repayment at maturity depends on the final level: if the final level is at or above the downside threshold, UBS pays the $10 principal; if below, the cash payment equals $10 x (1 + underlying return), exposing investors to the negative return on the underlying and possible loss of all principal. Payments are subject to UBS credit risk. The estimated initial value on the trade date is $9.72.

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 closes at or above a coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, repayment at maturity depends on the final level versus a downside threshold: if the final level is below that threshold, principal is reduced pro rata and investors can lose a significant portion or all of their initial investment. Trade and settlement are May 11, 2026 and May 13, 2026; final valuation and maturity are May 11, 2028 and May 15, 2028. The estimated initial value was $9.72 and the minimum investment is 100 Notes ($1,000). All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc. with a preliminary pricing supplement dated May 11, 2026. The Notes mature on May 14, 2029 with a final valuation date of May 10, 2029.

The Notes pay periodic contingent coupons only if the underlying stock closes at or above the coupon barrier on observation dates and are automatically callable 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 at maturity is reduced proportionally to the underlying return; in extreme cases investors can lose their entire principal. Trade date is May 11, 2026 with expected settlement May 13, 2026. Minimum investment is 100 Notes at $10 per Note; estimated initial value range is $9.34 to $9.59.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to MercadoLibre, Inc. with a term of approximately one year. The Notes pay a contingent coupon on each coupon payment date only if the underlying stock's closing level on the observation date meets or exceeds the coupon barrier; otherwise no coupon is paid. The Notes are subject to automatic early call if the underlying equals or exceeds the initial level on any observation date, in which case holders receive principal plus any contingent coupon and the Notes mature early. 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, holders suffer a loss equal to the underlying return (in extreme cases, total loss). Trade date is May 11, 2026, expected settlement May 13, 2026, final valuation date May 11, 2027 and maturity May 13, 2027. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk. The minimum purchase is 100 Notes at $10 per Note.

UBS AG is offering 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 meets the coupon barrier on the observation date and are autocallable 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, principal is reduced proportionally to the underlying return, possibly to zero. Trade date is May 11, 2026 with settlement expected May 13, 2026. The notes are unsecured obligations of UBS and payments are subject to UBS credit risk. Minimum investment is 100 notes at $10 per note; estimated initial value range is $9.38–$9.63.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, with a Trade Date of May 11, 2026, expected settlement on May 13, 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 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.

The Notes repay principal at maturity only if the final level is at or above the disclosed downside threshold; if below, repayment falls in proportion to the underlying return and could result in a total loss of principal. The Notes are unsecured obligations of UBS and subject to UBS credit risk. The minimum investment is 100 Notes at $10 per Note; the estimated initial value range on the trade date is $9.39–$9.64.

The issuer is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. The Notes have a principal amount of $10 per Note, a trade date of May 11, 2026, expected settlement on May 13, 2026, a final valuation date of May 11, 2028 and a maturity date of May 15, 2028. The Notes may pay periodic contingent coupons only when the underlying 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 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 the downside threshold; otherwise repayment declines dollar-for-dollar with the underlying return, and you could lose all principal. Payments depend on UBS creditworthiness. The document states an estimated initial value of $9.79 per Note as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Snowflake Inc. common stock maturing on May 14, 2029. The Notes pay a contingent coupon on each coupon payment date only if the closing level of Snowflake on the applicable observation date is at or above the coupon barrier. UBS will automatically call the Notes early if the closing level of Snowflake on any observation date prior to the final valuation date is equal to or greater than the initial level; in that case investors receive principal plus any contingent coupon then due.

If the Notes are not called, repayment at maturity is contingent: if the final level is at or above the downside threshold, UBS pays principal; if the final level is below the downside threshold, repayment falls proportionally 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 creditworthiness. The estimated initial value was $9.70 per Note; minimum investment is 100 Notes at $10 per Note.

UBS AG is offering Airbag Autocallable Yield Notes linked to American Eagle Outfitters common stock due May 13, 2027. The Notes pay a quarterly coupon unless they are automatically called early when the underlying closing level on an observation date is equal to or greater than the initial level. If automatically called, UBS will pay principal plus the coupon on the related coupon payment date and the Notes terminate. 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, UBS will repay the $10 principal plus the final coupon; if below the downside threshold, principal is reduced and investors bear leveraged downside exposure — approximately 1.4286% of principal lost for each 1% decline of the underlying beyond the threshold, with potential loss of the entire initial investment. The estimated initial value was $9.73 per Note. The Notes are unsecured obligations of UBS and subject to UBS credit risk. The minimum investment is 100 Notes at $10 per Note.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. due on or about May 15, 2028. The Notes pay a contingent coupon only if the underlying's closing level meets the coupon barrier on observation dates and will be automatically called early if the underlying reaches the initial level on any observation date prior to final valuation. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the downside threshold; otherwise principal is reduced proportionally to the underlying return, potentially causing a large loss. Trade date is May 11, 2026 with settlement May 13, 2026. The Notes have a $10 principal amount, an estimated initial value range of $9.41 to $9.66, and are subject to UBS credit risk and the product’s stated observation, market disruption and antidilution mechanics.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc., maturing on or about May 14, 2029. The Notes pay periodic contingent coupons only when the underlying closing level meets or exceeds a coupon barrier on observation dates and can be automatically called early if the underlying equals or exceeds the initial level on 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 could result in total loss. Trade date is May 11, 2026 with settlement expected May 13, 2026. The Notes are unsecured obligations of UBS and payments depend on UBS creditworthiness. The estimated initial value range is $9.36 to $9.61 per $10 Note, and the minimum investment is 100 Notes.

UBS AG priced a preliminary offering of Airbag Autocallable Yield Notes linked to the common stock of American Eagle Outfitters, Inc. The trade date is May 11, 2026, settlement May 13, 2026, final valuation May 11, 2027 and maturity May 13, 2027. The Notes pay a periodic coupon unless automatically called; an automatic call occurs if the underlying’s closing level on an observation date is equal to or greater than the initial level. If not called, principal repayment at maturity is contingent: full principal is repaid only if the final level is at or above the downside threshold; otherwise repayment is reduced with leveraged downside exposure (approximate downside sensitivity: 1.4286% principal loss per 1% decline beyond the threshold). Example coupon assumptions show a coupon rate of 12.18% per annum (quarterly coupon of $0.3045 on a $10 note) and an illustrative estimated initial value range between $9.43 and $9.68. 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 Advanced Micro Devices, Inc., with a stated offering amount of $400,000 and a maturity date of May 15, 2028. The Notes pay 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 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 in direct proportion to the underlying return, and investors could lose a significant portion or all of their investment. Payments are subject to the issuer’s creditworthiness; the estimated initial value per $10 Note on the trade date is $9.81 and the minimum investment is 100 Notes (principal amount $1,000).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes pay contingent coupons only if observation-date closing levels meet 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 and the final level is below the downside threshold, principal repayment at maturity is reduced proportionally to the underlying return; investors may lose a significant portion or all of their investment. Trade date is May 11, 2026, expected settlement May 13, 2026, final valuation date May 11, 2028 and maturity May 15, 2028. Principal amount examples use $10 per Note and a minimum purchase of 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation maturing on May 15, 2028. The Notes pay a contingent coupon only when the underlying stock's 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 and the final level is at or above the downside threshold, principal ($10 per Note) is repaid at maturity; if the final level is below the downside threshold the cash payment may be less than principal, with losses equal to the underlying return (in extreme cases, a total loss). Trade date is May 11, 2026, settlement date May 13, 2026, final valuation date May 11, 2028.

The offering carries issuer credit risk of UBS and liquidity/secondary market limitations; the estimated initial value per Note on the trade date is $9.72. Example terms shown: contingent coupon rate 29.97% per annum, contingent coupon per $10 Note $0.7493, downside threshold and coupon barrier shown as $50.00 (50% of initial level).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Marvell Technology, Inc. stock due May 15, 2028. 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 equals or exceeds the initial level. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the disclosed downside threshold; otherwise investors suffer losses equal to the percentage decline in the underlying and could lose their entire investment. The Notes are unsecured obligations of UBS and any payments depend on UBS creditworthiness. The Notes trade with a principal amount of $10 per Note, an estimated initial value of $9.72 as of the trade date, and example terms showing a contingent coupon rate of 28.58% per annum (contingent coupon $1.429 on a $10 Note). Trade and settlement dates and final valuation and maturity dates are disclosed in the terms.

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

The Notes pay periodic contingent coupons only if an observation-date closing level meets or exceeds a coupon barrier; they are automatically called early if an observation-date closing level is at or above the initial level. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold and is subject to UBS credit risk.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, 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 stock meets a coupon barrier on observation dates and will 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 stated downside threshold; otherwise repayment at maturity declines proportionately to the underlying return, with potential for complete loss of principal. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk. The trade date is May 11, 2026 with expected settlement on May 13, 2026. The Notes are offered in minimum increments of 100 Notes at a $10 principal amount per Note; the estimated initial value range is $9.38 to $9.63.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Shopify Inc. The notes have a principal amount of $1,000 per Note, a contingent coupon rate of 19.90% per annum, an expected term of approximately 18 months with a trade date of May 18, 2026 and a maturity date of November 23, 2027. The notes are callable monthly (beginning after six months) if the underlying equals or exceeds a call threshold equal to 100.00% of the initial level. If not called, principal is repayable at maturity only if the final level is at or above a downside threshold equal to 50.00% of the initial level; otherwise repayment at maturity reflects the negative underlying return and could result in substantial loss, up to the entire principal. Payments depend on UBS creditworthiness. The estimated initial value range is $948.20 to $978.20 per Note and the issue price will include underwriting and issuance costs.

UBS AG is offering $2,438,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, the VanEck Semiconductor ETF and the S&P 500 Index. The Notes pay a periodic contingent coupon of 10.75% per annum if on each observation date every underlying is at or above its coupon barrier; otherwise no coupon is paid. The Notes are callable by UBS beginning after 12 months; if called you receive principal plus any contingent coupon due on the call settlement date. If not called, at maturity you receive $1,000 per Note if each final level is at or above its downside threshold (each downside threshold = 50.00% of the initial level); otherwise your payment equals $1,000 × (1 + underlying return of the least performing underlying asset), which can result in a significant loss or a total loss of principal. Payments depend on UBS' creditworthiness. Key dates: trade date May 8, 2026, settlement May 13, 2026, final valuation date May 8, 2028, maturity May 11, 2028.

UBS AG London Branch is offering $50,893,000 of Digital S&P 500® Index-Linked Medium-Term Notes with a face amount of $1,000 per note. The notes have trade date May 7, 2026, original issue (settlement) date May 12, 2026, determination date May 22, 2028 and stated maturity date May 24, 2028.

The notes pay no interest and return is linked to the S&P 500® Index performance from an initial level of 7,337.11. There is an 85.00% buffer level (6,236.5435) and a cap level of 118.18%, with a maximum settlement amount of $1,181.80 per $1,000 face amount. If the final underlier level falls below the buffer, losses accrue at approximately 1.1765% of face amount per 1% decline below the buffer, and you could lose your entire investment. The estimated initial value on the trade date was $999.00 per $1,000 face amount. The notes are unsecured obligations of UBS and are not FDIC insured.

UBS AG London Branch is offering Capped Leveraged Buffered S&P 500® Index‑Linked Medium‑Term Notes with an aggregate face amount of $24,834,000 due January 26, 2028. The notes reference the S&P 500® Index, have an upside participation rate of 130.00%, a cap level of 119.00% (maximum settlement amount of $1,247.00 per $1,000 face), and a buffer equal to 87.50% of the initial underlier level (initial underlier level 7,337.11). If the final underlier level on the determination date is below the buffer, holders incur leveraged downside (approximately 1.1429% loss of face amount per 1% underlier decline below the buffer) and could lose their entire investment. The notes do not pay interest, are unsecured obligations of UBS, and the estimated initial value on the trade date was $999.00 per $1,000 face amount as determined by UBS’ internal models.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average® and the S&P 500®. The Notes have a $1,000 principal amount, a contingent coupon rate of 7.40% per annum (contingent coupon $18.50 per quarter if conditions are met), a trade date of May 15, 2026, an expected settlement date of May 20, 2026, a final valuation date of May 15, 2029 and a maturity date of May 18, 2029. Coupon payments are made only when the closing level of each underlying asset meets or exceeds its coupon barrier (each set at 55.00% of its initial level) on an observation date. UBS may call the Notes in whole on any observation date (other than the final valuation date), in which case holders receive principal plus any contingent coupon due on the call settlement date and no further payments.

The repayment of principal at maturity is contingent: if the final level of any underlying asset is below its downside threshold (also set at 55.00% of its initial level), holders will receive an amount equal to $1,000 × (1 + underlying return of the least performing underlying asset), which can result in substantial loss or total loss of principal. The estimated initial value range is $962.10 to $992.10 per Note as of the trade date; the issue price exceeds that estimate. All payments are subject to UBS credit risk and there may be little or no secondary market.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000®, S&P 500® and EURO STOXX 50®. The Notes have a principal amount of $10 per Note, trade date May 11, 2026, expected settlement May 13, 2026 and maturity May 15, 2029. The Notes pay a contingent coupon of 12.60% per annum (stated) when each underlying asset meets its coupon barrier during an observation period; otherwise no coupon accrues. UBS may call the Notes on quarterly observation end dates; if not called, principal repayment at maturity is contingent on the final levels of the underlying assets relative to downside thresholds (70% coupon barriers; 60% downside thresholds shown). Estimated initial value range is $9.61–$9.91 per Note; issue price is $10.00 per Note. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk.

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 totals $2,029,000 at an issue price of $1,000 per Note with a term of approximately 23 months (maturing April 13, 2028). The Notes pay a contingent coupon of 12.60% per annum ($10.50 per coupon) only when both underlying assets meet coupon barriers on observation dates. UBS may call the Notes on monthly observation dates beginning after three months; if not called, principal repayment at maturity is contingent: full principal is returned only if each underlying asset is at or above its 70.00% downside threshold, otherwise repayment (if any) is reduced pro rata by the negative return of the least performing underlying asset, potentially resulting in substantial loss or total loss. All payments are subject to UBS credit risk and limited secondary-market liquidity.

UBS AG offers Trigger Autocallable Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500, with an aggregate offering of $873,000. The Notes have a principal amount of $1,000 per Note, an expected maturity date of May 13, 2031, and observation dates monthly 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 a call price that equals principal plus a call return; the stated call return rate is 9.55% per annum and the call price grows over time. If not called, repayment at maturity is contingent: investors receive principal if every underlying asset is at or above its downside threshold (each downside threshold = 70% of initial level), but if any underlying asset ends below its downside threshold the cash payment equals $1,000 × (1 + underlying return of the least performing underlying asset), which can produce a substantial loss, including a total loss. Payments are unsecured obligations of UBS and depend on UBS creditworthiness. The estimated initial value per Note on the trade date was $951.50, while the issue price is $1,000.00.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Broadcom Inc. stock due May 12, 2028. The Notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier and will be automatically called early if the underlying closes at or above the initial level on any observation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise, principal is reduced proportionally to the underlying return, and investors can lose a significant portion or all of their investment. Payments depend on UBS creditworthiness. Trade date is May 8, 2026, settlement May 12, 2026, final valuation date May 10, 2028, and maturity May 12, 2028. The estimated initial value was $9.80 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc. The Notes pay a periodic contingent coupon only if the underlying's 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; otherwise principal is reduced in proportion to the underlying return, which could result in a total loss of principal. Key dates: Trade Date May 8, 2026, Settlement Date May 12, 2026, Final Valuation Date May 10, 2029, Maturity Date May 14, 2029. Minimum investment: 100 Notes at $10 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc. The preliminary pricing supplement dated May 08, 2026 sets trade and settlement timing and describes contingent coupons, an automatic call feature, and contingent principal repayment at maturity.

The Notes pay a contingent coupon only if the underlying closes at or above a coupon barrier on an observation date; they auto-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 can be less than the principal amount, potentially resulting in substantial or total loss. The offering minimum is 100 Notes at $10 per Note and the estimated initial value range is $9.43–$9.68 per Note.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to First Solar, Inc. stock. The Notes mature on May 12, 2028 with a final valuation date of May 10, 2028 and have a principal amount of $10 per Note. The offering includes an automatic call feature, periodic contingent coupons payable only if the underlying closing level meets a coupon barrier, and contingent principal repayment at maturity that may expose investors to the full downside of the underlying stock. The notes are unsecured obligations of UBS and any payments depend on UBS’s creditworthiness. Trade date is May 8, 2026 and settlement is expected May 12, 2026. The minimum purchase is 100 Notes ($1,000) and the issuer’s estimated initial value was $9.71.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to United Airlines common stock due May 12, 2028. The Notes pay 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 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 principal; if below, your cash payment may be reduced proportionally to the underlying return and you could lose all of your investment. Payments depend on UBS’s creditworthiness. Trade date is May 8, 2026, settlement May 12, 2026, final valuation date May 10, 2028, and maturity May 12, 2028. The estimated initial value was $9.74 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Royal Caribbean Cruises Ltd. 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 closes at or above the initial level on any observation date prior to final valuation. At maturity, if not called and the final level is at or above the downside threshold, UBS will repay the principal amount; if the final level is below the downside threshold, repayment will be reduced proportionally to the underlying return and investors could lose a significant portion or all of their investment. Payments, including principal, are subject to UBS creditworthiness.

UBS AG is marketing Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc. The commercial terms will be set on the trade date; the offering includes an automatic call feature, periodic contingent coupons if the underlying meets coupon barriers, and contingent repayment of principal at maturity that can expose investors to the full downside of the underlying. Key dates include a trade date of May 8, 2026, settlement May 12, 2026, final valuation date May 10, 2029, and maturity May 14, 2029. Minimum investment is 100 Notes at $10 per Note and UBS discloses an estimated initial value range of $9.37 to $9.62.