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 Intuit Inc., due May 8, 2028. The Notes pay periodic contingent coupons only if the underlying 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 prior to the final valuation date. If not called, principal is returned at maturity only if the final level is equal to or above the downside threshold; otherwise principal is reduced in proportion to the decline in the underlying and investors could lose up to their entire investment. Trade date is May 4, 2026, expected settlement May 6, 2026, final valuation date May 4, 2028, and maturity May 8, 2028. Minimum purchase is 100 Notes at $10 per Note; the estimated initial value as of the trade date is $9.72.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Delta Air Lines common stock due May 7, 2029. 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 closes at or above the initial level on any quarterly observation date beginning after six months. If not called and the final level is below the downside threshold, principal repayment at maturity is reduced proportionally to the underlying return; in extreme cases you could lose all of your initial investment. Payments, including principal, are subject to UBS creditworthiness. Trade date: May 4, 2026; Settlement date: May 6, 2026; Final valuation date: May 3, 2029; Maturity date: May 7, 2029.

UBS AG is offering Airbag Autocallable Yield Notes linked to the common stock of Intel Corporation, with a term of approximately one year and key dates: Trade Date: May 4, 2026, Final Valuation Date: May 4, 2027, Maturity: May 6, 2027. Each Note has a principal amount of $10 and pays a coupon on each coupon payment date unless the Notes are automatically called. The Notes will be automatically called if the closing level of the underlying asset on an observation date is equal to or greater than the initial level, in which case UBS will pay principal plus the coupon then due and no further payments will be made. If not called and the final level is below the downside threshold, repayment at maturity is contingent and exposes investors to leveraged downside (approximately 1.1765% loss of principal per 1% decline beyond the threshold), potentially losing the entire investment. The estimated initial value range as of the trade date is $9.48 to $9.73. Payments depend on UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Accenture plc, with a $10 principal amount per Note and a final maturity date of May 7, 2029. The Notes may pay periodic contingent coupons only if the underlying 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 prior to final valuation. If not called, repayment of principal at maturity is contingent: full principal is returned only if the final level is at or above the downside threshold; otherwise repayment is reduced proportionally to the underlying return and investors may lose a significant portion or all of their investment. All payments depend on UBS creditworthiness. The estimated initial value is $9.64 per $10 Note. Trade date is May 4, 2026 and expected settlement is May 6, 2026. Final valuation date: May 3, 2029.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Zscaler, Inc. The preliminary pricing supplement dated May 4, 2026 sets key dates: trade date May 4, 2026, settlement May 6, 2026, final valuation date May 3, 2029 and maturity May 7, 2029. Each Note has a principal amount of $10 and pays periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates; an automatic call occurs 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, repayment at maturity may be less than principal, potentially resulting in substantial or total loss. Estimated initial value per Note is between $9.34 and $9.59 as of the trade date; all payments are subject to UBS credit risk.

UBS AG is offering Airbag Autocallable Yield Notes linked to the common stock of NVIDIA Corporation due May 6, 2027. Each Note has a principal amount of $10 and pays a periodic coupon; an estimated initial value was $9.74 on the trade date.

The Notes will be automatically called early if the underlying's closing level on any observation date is at or above the initial level, in which case UBS pays principal plus the coupon on the related coupon payment 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 you will incur leveraged downside exposure. The structure imposes a loss of approximately 1.1765% of principal for each 1% decline of the underlying beyond the threshold. All payments, including principal, are subject to UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intuit Inc. The notes have a $10 principal amount per note, a trade date of May 4, 2026, expected settlement on May 6, 2026, a final valuation date of May 4, 2028 and a maturity date of May 8, 2028. The notes pay contingent coupons only if the underlying closes at or above 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 and, if the final level is below that threshold, investors may suffer losses up to the full principal amount. Estimated initial value on the trade date is shown as between $9.42 and $9.67 per $10 note.

UBS AG is marketing a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Delta Air Lines, Inc. The notes have a trade date of May 4, 2026, expected settlement on May 6, 2026, a final valuation date of May 3, 2029, and a maturity date of May 7, 2029.

The notes pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates, are subject to automatic quarterly calls if the underlying equals or exceeds the initial level, and repay principal at maturity only if the final level is at or above the downside threshold; otherwise principal suffers the percentage loss equal to the underlying return. Estimated initial value is between $9.35 and $9.60 per $10 Note; minimum investment is 100 Notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to ServiceNow, Inc. common stock due May 7, 2029. The Notes pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold, UBS pays principal; 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. Trade date is May 4, 2026; settlement May 6, 2026; final valuation May 3, 2029; maturity May 7, 2029.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Accenture plc stock due on or about May 7, 2029. 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 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; if the final level is below that threshold, holders suffer a loss equal to the underlying return and could lose their entire investment. Payments, including principal, depend on UBS creditworthiness. The trade date and settlement dates are shown as May 4, 2026 and May 6, 2026; the final valuation date is shown as May 3, 2029.

UBS AG priced a preliminary pricing supplement for Airbag Autocallable Yield Notes linked to the common stock of NVIDIA Corporation. Trade date is May 4, 2026, expected settlement May 6, 2026, final valuation date May 4, 2027 and maturity May 6, 2027. The Notes pay a coupon each coupon date unless automatically called, may be automatically called early if the underlying closes at or above the initial level on an observation date, and at maturity either repay principal or expose holders to leveraged downside.

The illustrative coupon rate is 10.45% per annum with quarterly coupons; estimated initial value at trade date is between $9.48 and $9.73 per $10 note. Minimum investment is 100 Notes (representing $1,000). Any payment, including principal, is subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of ServiceNow, Inc. The preliminary pricing supplement dated May 4, 2026 sets the trade date as May 4, 2026, expected settlement on May 6, 2026, final valuation date May 3, 2029 and maturity on May 7, 2029. The Notes pay contingent coupons only when the underlying closing level meets or exceeds a coupon barrier on observation dates, may autocall early if the underlying reaches the initial level on an observation date, and repay contingent principal at maturity only if the final level is at or above a downside threshold. Examples show a $10 principal per Note, a hypothetical contingent coupon rate of 18.32% per annum (contingent coupon $0.458 per $10 Note), a downside threshold equal to 60.00% of the initial level, and an estimated initial value range of $9.30–$9.55 per $10 Note. Payments are subject to UBS credit risk; investors may lose a significant portion or all of their investment.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Amazon.com, Inc. common stock due May 6, 2027. The notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier; they auto-call early if the underlying closes at or above the initial level on an observation date. If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is at or above the downside threshold; otherwise repayment is reduced pro rata to the underlying return and investors could lose a substantial portion or all principal. The offering examples show a $10 principal per note, an illustrative contingent coupon rate of 9.72% per annum, an estimated initial value of $9.79, trade date May 4, 2026, settlement May 6, 2026, final valuation date May 4, 2027, and maturity May 6, 2027.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation maturing on May 6, 2027. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on scheduled 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 below the downside threshold you will receive an amount equal to $10 x (1 + underlying return), which can result in a partial or total loss of principal. All payments are subject to UBS’s creditworthiness. The Notes are offered in $10 increments with a minimum purchase of 100 Notes and an estimated initial value of $9.74 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc. The preliminary pricing supplement dated May 4, 2026 sets trade and settlement mechanics and describes contingent coupons, an automatic call feature, and contingent principal repayment at maturity. The Notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier on observation dates. The Notes will be automatically called early if the underlying closing level is at or above the initial level on any observation date before the final valuation date, in which case UBS pays principal plus any contingent coupon and no further payments are due. If not called, principal at maturity is paid only if the final level is at or above the downside threshold; if the final level is below that threshold, investors suffer a loss tied to the underlying return and could lose their entire investment. Any payments are subject to UBS's creditworthiness. The final terms (including exact barriers and observation dates) will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to MercadoLibre, Inc. common stock due May 8, 2028. The Notes pay a contingent coupon only if the underlying closing level on an observation date is at or above the coupon barrier; they are auto‑called early if the underlying closes at or above the initial level on any quarterly observation date (beginning ~6 months after issue). 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 declines proportionally to the underlying return and investors could lose all principal. Payments depend on UBS creditworthiness. Trade date is May 4, 2026, settlement May 6, 2026, final valuation May 4, 2028, maturity May 8, 2028. The Notes are offered in minimum increments of 100 Notes at $10 per Note; estimated initial value per Note is $9.78.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to Microsoft Corporation common stock due on or about May 6, 2027. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and are automatically called if the underlying closes at or above the initial level on any observation date prior to the final valuation date. Principal repayment at maturity is contingent on the final level relative to an 80.00% downside threshold; if the final level is below that threshold, repayment will decline dollar-for-dollar with the underlying return, potentially resulting in a full loss. Trade date is May 4, 2026, settlement May 6, 2026, final valuation date May 4, 2027, and maturity May 6, 2027. The Notes are unsecured obligations of UBS and subject to UBS credit risk. The estimated initial value range per Note is $9.48–$9.73 and minimum investment is 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc. The Notes have an approximately two‑year term with a trade date of May 4, 2026, an expected final valuation date of May 4, 2028 and a maturity date of May 8, 2028. The Notes pay a contingent coupon only if the underlying closing level meets or exceeds a coupon barrier on observation dates; they will be automatically called early 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 payable only if the final level is at or above the downside threshold; otherwise repayment is reduced proportionally to the underlying return and investors could lose a significant portion or all of their investment. The example terms show a $10 principal per Note, an estimated initial value between $9.42 and $9.67, a sample contingent coupon rate of 14.78% per annum and downside/coupon thresholds at 70.00% of the initial level. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation with a trade date of May 4, 2026, expected settlement May 6, 2026, final valuation date May 4, 2028 and maturity May 8, 2028. The notes pay periodic contingent coupons only when the underlying's closing level on an observation date meets or exceeds the coupon barrier; they are automatically called early if the underlying closes at or above the initial level on an observation date. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the downside threshold; otherwise repayment is reduced proportionally to the underlying return and investors could lose a significant portion or all principal. The estimated initial value on the trade date is $9.80 per $10 Note. All payments are subject to UBS credit risk.

The issuer UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index. The Notes pay a contingent coupon of 10.90% per annum on any coupon payment date only if each underlying asset's closing level is at or above its coupon barrier on the related observation date. UBS may call the Notes in whole on any monthly observation date beginning after three months. At maturity (expected May 4, 2028), if any underlying asset's final level is below its downside threshold, payment will be reduced pro rata based on the least performing underlying asset, potentially resulting in the loss of a significant portion or all of principal. The Notes are unsubordinated unsecured obligations of UBS and are subject to UBS credit risk, limited secondary-market liquidity, estimated initial value below issue price, and uncertain U.S. federal tax treatment.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index. The notes have a principal amount of $1,000 per Note, a contingent coupon rate of 8.55% per annum, a trade date of May 26, 2026, expected settlement on May 29, 2026, a final valuation date of April 26, 2028 and a maturity date of May 1, 2028. UBS may call the Notes in whole on monthly observation dates beginning after three months. At maturity you receive principal only if each underlying asset is at or above its downside threshold (70% coupon barrier; 60% downside threshold are specified on the cover). If any underlying asset is below its downside threshold at final valuation, repayment is reduced proportionally to the percentage decline of the least performing underlying asset and you could lose all of your investment. The estimated initial value range is $937.00 to $967.00 per Note; issue price includes underwriting and hedging costs and will exceed that estimated value. All payments depend on UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the Russell 2000® Index and the S&P 500® Index. The issue size is $4,520,000 at an issue price of $1,000 per Note with a principal amount of $1,000 per Note and an estimated initial value of $977.20. The Notes pay semiannual contingent coupons at an 8.10% per annum rate (contingent coupon of $40.50 per semiannual period) if both indices meet coupon barriers on observation dates, feature a memory interest provision, and are subject to automatic call if both indices meet call threshold levels on any observation date. If not called, repayment of principal at maturity is contingent: full principal is paid only if both final levels are at or above their 70.00% downside thresholds; otherwise repayment at maturity reflects the negative return of the least performing underlying asset and could result in substantial loss. 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 shares of the State Street® Energy Select Sector SPDR® ETF, maturing May 3, 2029. Each $1,000 Note pays a contingent coupon of 11.55% per annum if both underlyings meet monthly coupon barriers; otherwise no coupon. UBS may call the Notes beginning after six months. At maturity, if any underlying is below its 65.00% downside threshold, principal is reduced pro rata to the negative return of the least performing underlying (possible total loss). The estimated initial value is $978.40 per $1,000 Note and the issue price is $1,000 per Note.

UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the Russell 2000® Index, maturing on or about February 20, 2029. The notes pay a contingent coupon (9.70% per annum) only if each underlying's closing level on an observation date meets its coupon barrier; otherwise no coupon is paid.

The notes are callable monthly at UBS' discretion beginning after 12 months; if not called and the final level of any underlying is below its downside threshold, holders may suffer losses equal to the shortfall in excess of the 15% buffer. The estimated initial value range is $960.40 to $990.40 and the issue price is $1,000.00 per note (proceeds to UBS $995.00 per note). The notes are unsecured obligations of UBS and are subject to UBS credit and Swiss regulatory risks.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000^® Index and the S&P 500^® Index. The notes have a principal amount of $1,000 per Note, a minimum contingent coupon of at least 7.50% per annum, are callable quarterly beginning after six months, and mature on May 18, 2029. Trade date is May 15, 2026 with expected settlement on May 20, 2026. If not called, repayment at maturity is contingent: full principal is repaid only if each underlying asset is at or above its downside threshold (70% of initial level); otherwise the payment equals $1,000 times (1 + the negative return of the least performing underlying asset), which can result in a substantial loss or total loss of principal. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100®, due on or about June 1, 2029. The notes pay a contingent coupon of 9.30% per annum only when each underlying closing level on an observation date is at or above its coupon barrier; otherwise no coupon is paid.

The notes are callable by UBS monthly beginning after six months; if called you receive principal plus any contingent coupon then due. If not called and any final level is below its downside threshold (70.00% of initial level), principal is reduced proportionally to the decline of the least performing underlying asset. The issue price is $1,000 per note and the estimated initial value range is $934.30–$964.30. These notes are unsecured obligations of UBS and subject to UBS credit risk and significant market risk.

UBS AG offers preliminary terms for Trigger Callable Contingent Yield Notes due on or about December 1, 2027, linked to the least performing of the S&P 500®, Russell 2000®, and Nasdaq-100 indices. The notes pay a contingent coupon of 8.65% per annum when each underlying index meets its coupon barrier on an observation date, are callable monthly by UBS beginning after ≈3 months, and expose holders at maturity to the downside return of the least performing underlying index if any final level is below a 70.00% downside threshold. Issue price per Note is $1,000 with an estimated initial value between $940.50 and $970.50. Payments, including any principal repayment, are subject to UBS credit risk. Key economics (coupon rate, barriers, downside threshold, final terms and CUSIP) will be set on the strike date and reflected in the final pricing supplement.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100® due on or about December 2, 2027. The notes pay a contingent coupon (11.00% per annum in the preliminary terms) only if each underlying meets its coupon barrier on an observation date; otherwise no coupon is paid. UBS may call the notes monthly beginning after ~3 months; if not called, repayment at maturity depends on the least performing underlying relative to a 70.00% downside threshold, exposing holders to partial or total loss of principal. The estimated initial value range is $956.50 to $986.50, and the issue price is $1,000 per note. Key risks include issuer credit risk, limited liquidity, issuer call and exposure to the single least performing index component.

UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the Russell 2000® Index. The notes pay a contingent coupon only if each underlying is at or above its coupon barrier on an observation date; otherwise no coupon is paid. UBS may call the notes monthly beginning after 12 months; if called you receive principal plus any contingent coupon due on the call settlement date. At maturity, if the final level of any underlying is below its downside threshold, principal is reduced by the percentage that the least performing underlying is below its initial level in excess of a 15% buffer. The estimated initial value range is $960.60 to $990.60 and the issue price is $1,000.00.

UBS AG offers Trigger Contingent Yield Notes with Memory Interest linked to the least performing common stock of JPMorgan Chase & Co., Microsoft Corporation and Oracle Corporation. The Notes have a principal amount of $1,000 per Note, monthly observation dates, a strike date expected on May 20, 2026, a final valuation date of May 21, 2029 and a maturity date of May 24, 2029. If, on an observation date, the closing level of each underlying asset is at or above its coupon barrier, UBS will pay a contingent coupon (plus previously unpaid contingent coupons under the memory feature); otherwise no coupon is paid. At maturity, if every final level is at or above its downside threshold, UBS will repay the principal; if any final level is below its downside threshold, the cash payment is reduced and tracks the percentage decline of the least performing underlying asset, potentially causing a substantial or total loss. Payments depend on UBS’ creditworthiness and the issue price exceeds the estimated initial value, which is stated between $956.00 and $986.00 as of the trade date.

UBS AG is offering Buffer Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the VanEck® Gold Miners ETF (GDX) and the State Street® Energy Select Sector SPDR® ETF (XLE). The Notes have a $1,000 principal per Note, an 11.00% per annum contingent coupon rate, a 20.00% downside buffer, monthly coupon observation dates, quarterly call observation dates (beginning after six months), an expected trade date of May 26, 2026, settlement on May 29, 2026, final valuation date of May 26, 2028, and maturity on or about June 1, 2028. If on any coupon observation date both underlying assets equal or exceed their coupon barriers, UBS will pay the contingent coupon; the Notes may be automatically called if both underlyings meet call threshold levels on a call observation date, in which case investors receive principal plus any due contingent coupons. If not called and the final level of any underlying is below its downside threshold, repayment is reduced by the least performing underlying return in excess of the 20.00% buffer, and investors could lose most or all principal. Payments are subject to UBS credit risk. The estimated initial value range is $927.60 to $957.60 and the issue price is $1,000 with an underwriting discount of $26.00 per Note.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the Nasdaq-100® Technology Sector, due on or about June 1, 2029. Each Note has a $1,000 principal amount, a contingent coupon rate of 10.80% per annum, and observation dates monthly (callable after six months). The Notes pay contingent coupons only when both underlyings meet coupon barriers and are issuer-callable monthly at UBS’s discretion; if not called and an underlying’s final level is below its downside threshold ( 70.00% of its Initial Level ), principal may be reduced pro rata to the least performing underlying and you could lose a substantial portion or all of your investment. The issue price is $1,000 per Note; estimated initial value is between $954.00 and $984.00; underwriting discount is $7.50 per Note and proceeds to UBS are $992.50 per Note.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100®. The Notes have a contingent coupon of 10.75% per annum, are callable monthly beginning about three months after issuance and mature on or about June 1, 2029. Payments depend on each underlying asset meeting its coupon barrier (75.00% of initial level) on observation dates and on the downside threshold (60.00% of initial level) at final valuation; if the final level of any underlying asset is below its downside threshold you may lose a percentage of principal equal to the decline of the least performing underlying asset, potentially all of your investment. The estimated initial value range is $954.50 to $984.50 per $1,000 Note and the issue price is $1,000 with proceeds to UBS of at least $991.00 per Note. All payments, including any repayment of principal, are subject to UBS credit risk.

UBS AG is offering Capped Buffer Contingent Absolute Return Securities linked to the least performing of the Dow Jones Industrial Average® and the S&P 500® Index, maturing on or about December 2, 2027. Each Security has a $1,000 principal amount and a 15.00% buffer and a 17.50% maximum upside gain. If the least performing underlying return is positive, payment is the principal plus the lesser of that return or the maximum upside; if zero or negative but above the downside threshold, you may receive a capped contingent absolute return (up to 15.00%). If the final level of the least performing underlying asset is below its downside threshold, you suffer losses in excess of the buffer and could lose almost all principal. Estimated initial value range is $957.00–$987.00 and the issue price is $1,000. All payments are subject to UBS credit risk and the Securities may have limited or no secondary market.

UBS AG offers preliminary pricing for Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100®, with a stated contingent coupon rate of 11.75% per annum and a maturity on or about June 1, 2029. The notes are issuer-callable monthly beginning after ~3 months; contingent coupons are paid only when each underlying meets its coupon barrier and principal repayment at maturity depends on the least performing underlying meeting its downside threshold.

The preliminary issue price is $1,000 per Note, estimated initial value ranges $953.50–$983.50, underwriting discount up to $9.00 per Note and minimum proceeds to UBS of $991.00 per Note. The notes are unsecured obligations of UBS and carry market risk tied to each underlying asset and credit risk of UBS; downside thresholds are 70% and coupon barriers are 75% of initial levels.

UBS AG is offering $4,675,000 of Trigger Jump Securities due May 5, 2031 linked to the Global X Uranium ETF (ticker URA). Each security has a $1,000 stated principal and an initial price of $56.42. The securities are auto-callable on scheduled determination dates if the closing price meets or exceeds the call threshold ($56.42), paying the stated principal plus a predetermined premium. If not called, maturity payouts depend on the final price: a fixed maturity payment of $1,937.50 if final price ≥ the threshold; return of principal if final price ≥ 80% ($45.14); otherwise a cash value based on the exchange ratio, which can result in substantial loss or total loss of principal. Payments are unsecured obligations of UBS and subject to UBS credit risk. The issue price equals $1,000 per security and the estimated initial value was $958.90.

UBS AG is offering Buffer Autocallable Notes linked to the least performing of the Dow Jones Industrial Average® and the Russell 2000® Index with expected term of approximately five years and a principal amount of $1,000 per Note. The Notes pay a conditional "call price" if both indices meet call thresholds on quarterly observation dates; otherwise repayment at maturity is contingent and may be less than principal depending on the least performing underlying asset after a 15.00% buffer. The published call return rate is 7.60% per annum (call price schedule provided). The estimated initial value range is $924.40 to $954.40 and the issue price is $1,000 per Note; underwriting discount is $36.00 and proceeds to UBS are $964.00 per Note. Investments are unsecured obligations of UBS and subject to UBS credit risk; investors may lose some or almost all of their investment if final index levels fall below downside thresholds.

UBS AG is offering Capped Buffer Contingent Absolute Return Securities linked to the least performing of the Dow Jones Industrial Average and the S&P 500. Each Security has a $1,000 principal amount and an expected term of approximately 18 months. Key economic terms set on the cover: maximum upside gain 12.00%, buffer 15.00%, maximum upside payment $1,120.00 and maximum contingent payment $1,150.00. If the least performing underlying return is positive, payment at maturity equals principal plus the lesser of that return and the 12.00% cap. If the least performing return is zero or negative but at or above its downside threshold (85.00% of initial level), you receive a contingent absolute return (capped at 15.00%). If the least performing underlying final level is below its downside threshold, you suffer losses in excess of the 15.00% buffer and could lose almost all principal. Trade Date is May 26, 2026, Settlement May 29, 2026, Final Valuation Date November 26, 2027, Maturity December 1, 2027. Issue price per Security is $1,000; underwriting compensation is $22.25 and proceeds to UBS AG are $977.75. Estimated initial value range: $941.60–$971.60.

UBS AG offers preliminary terms for Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100® Technology Sector, due on or about May 4, 2028. The notes pay a 12.00% per annum contingent coupon when each underlying meets its coupon barrier, are issuer-callable monthly beginning ~3 months after issuance, and return principal at maturity only if each underlying is at or above its 70.00% downside threshold. The issue price per note is $1,000.00; UBS estimates an initial theoretical value range of $952.80–$982.80 and expects per-note proceeds to UBS of at least $992.75, with an underwriting discount of up to $7.25.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and the Nasdaq-100® Technology Sector, due on or about May 1, 2028. The Notes pay a contingent coupon of 9.80% per annum only if each underlying asset meets its coupon barrier on observation dates. UBS may call the Notes monthly (beginning after ~3 months). If UBS does not call the Notes and the final level of any underlying asset is below its 70.00% downside threshold, principal repayment at maturity will be reduced proportionally to the loss in the least performing underlying asset; extreme outcomes could result in a total loss of principal. Estimated initial value is between $937.00 and $967.00 per $1,000 Note and the issue price will exceed that estimated value. The Notes are unsecured obligations of UBS and are not FDIC insured.

UBS AG is offering Contingent Income Auto-Callable Securities with Memory Coupon and Daily Coupon Observation due on or about May 11, 2029. Each security has a $1,000 stated principal amount and a contingent payment equal to $30.25 (equivalent to 12.10% per annum) for an observation period in which all three underlying indices close at or above 80% of their initial levels on every trading day. The securities reference the Nikkei 225®, the Russell 2000® and the S&P 500® and pay based on the worst performing underlying index. Early automatic redemption occurs if all indices equal or exceed their 100% call thresholds on an observation end date. At maturity, if any underlying index is below its 65% downside threshold, investors suffer a loss tied to the worst performing index; principal is not guaranteed. The estimated initial value at pricing is between $915 and $945, and total fees equal 2.25% of the issue price.

UBS AG is offering Trigger Autocallable Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index with total issue size of $1,843,000. Each Note has a principal amount of $1,000 and a term of approximately five years, subject to annual observation dates and potential automatic calls.

If all three underlying assets meet or exceed their call thresholds on any observation date, UBS will automatically call the Notes and pay a call price equal to principal plus a call return (13.30% per annum on the cover). If not called and any final level is below its 60.00% downside threshold, the payment at maturity will decline pro rata to the percentage loss of the least performing underlying asset; in an extreme outcome you could lose your entire principal. All payments depend on UBS creditworthiness.

UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the Russell 2000® Index, due on or about March 5, 2029. The Notes pay a contingent coupon (11.45% per annum in the preliminary terms) only if each underlying's closing level meets its coupon barrier on an observation date; otherwise no coupon is paid. UBS may call the Notes monthly beginning after six months; if called you receive principal plus any contingent coupon due on the call settlement date. If not called, principal is repaid at maturity only if each final level is at or above its downside threshold (85% of initial level); if the least performing underlying is below that threshold you bear losses in excess of a 15% buffer, potentially losing most of your investment. Issue price is $1,000 per Note; estimated initial value range is $959.50–$989.50. All payments depend on UBS creditworthiness.

UBS AG is offering Capped Performance Leveraged Upside Securities (Capped PLUS) linked to the State Street Financial Select Sector SPDR ETF (ticker XLF) with an aggregate principal amount of $2,778,000. Each Capped PLUS has a stated principal of $1,000, a 3.0 leverage factor and a maximum payment at maturity of $1,182.50 (maximum gain 18.25%). The securities pay no interest or dividends, are unsecured obligations of UBS and mature on August 4, 2027 (valuation date July 30, 2027). At maturity investors receive the stated principal plus a leveraged upside up to the cap if the final price of the underlying exceeds the initial price; if the final price is lower, investors suffer a loss equal to the underlying return and could lose all principal. These Capped PLUS are not listed and secondary-market liquidity may be limited.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Eaton Corporation plc that mature on May 5, 2027. The Notes pay periodic contingent coupons only when the underlying stock 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 is repaid at maturity only if the final level is at or above a downside threshold; if the final level is below that threshold, principal repayment is reduced in proportion to the underlying return, possibly to zero. Payments are subject to UBS credit risk. Trade date is May 1, 2026, expected settlement May 5, 2026, final valuation date May 3, 2027, and estimated initial value per Note is $9.75. Minimum purchase is 100 Notes at $10 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Eaton Corporation plc. The Notes have a principal amount of $10 per Note, a trade date of May 1, 2026, settlement on May 5, 2026, a final valuation date of May 3, 2027 and a maturity date of May 5, 2027. The Notes pay a contingent coupon only if the underlying stock is at or above the coupon barrier on observation dates and are automatically called if the underlying is at or above the initial level on any observation date prior to the final valuation date. The Notes repay principal at maturity only if the final level is at or above the disclosed downside threshold; if below, repayment is reduced proportionally and investors could lose all principal. Minimum purchase is 100 Notes ($1,000). The estimated initial value range is $9.49 to $9.74 per Note. Investing involves significant market risk and is subject to UBS credit risk.

UBS AG offers $3,000,000 aggregate principal amount of Contingent Income Auto-Callable Securities due November 3, 2026 linked to the Class A common stock of Alphabet Inc.

Each $1,000 security pays a contingent payment of $11.50 on a determination date if Alphabet's closing price is >= $279.95 (80% of the initial price). Securities may auto-redeem early if the closing price meets the $349.94 call threshold on eligible determination dates; if not redeemed and the final price is below the downside threshold, holders receive a cash value and may lose a substantial portion or all principal. Payments are unsecured and subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Arm Holdings plc due May 5, 2028. The Notes pay a contingent coupon only when the underlying ADR closing level on an observation date is at or above the coupon barrier; otherwise no coupon is paid.

If the underlying ADR closes at or above the initial level on any observation date prior to the final valuation date, the Notes are automatically called and investors receive principal plus any contingent coupon on the corresponding call settlement date. If not called, repayment at maturity is contingent: the full principal is returned only if the final level is at or above the downside threshold; if final level is below that threshold, principal is reduced pro rata to the underlying return and could result in loss of all principal.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. common stock due May 5, 2028. The offering references $421,000 and sets a principal amount of $10 per Note with an estimated initial value of $9.81 as of the trade date. The Notes may pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and may be automatically called early if the underlying closes at or above the initial level on an observation date. If not called, repayment of principal at maturity is contingent on the final level relative to a downside threshold; if the final level is below the downside threshold, investors face a loss equal to the underlying return and could lose all of their investment. Trade date is May 1, 2026, settlement is May 5, 2026, final valuation date is May 3, 2028, and maturity is May 5, 2028. All payments are subject to the creditworthiness of UBS and the Notes will not be listed on an exchange.