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

UBS AG offers 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 when each underlying is at or above its coupon barrier on an observation date, are callable monthly by UBS beginning after ~3 months, and repay principal at maturity only if each underlying's final level is at or above its 70.00% downside threshold. Issue price is $1,000 per Note with an underwriting discount of $5.00 (proceeds to UBS: $995.00). The estimated initial value is between $959.70 and $989.70. The Notes are unsecured obligations of UBS and subject to UBS credit risk, issuer call risk, limited upside (no participation in index appreciation), potential loss of principal tied to the least performing underlying, and limited or no secondary market liquidity.

UBS AG is offering Trigger Callable Contingent Yield Notes with a total issue size of $1,119,000 (principal $1,000 per Note). The Notes pay a contingent coupon of 12.00% per annum only if each underlying (the Russell 2000®, the S&P 500®, and shares of the State Street® Technology Select Sector SPDR® ETF) meets its coupon barrier on an observation date. UBS may call the Notes in whole on monthly observation dates beginning after 6 months; if not called, repayment at maturity depends on the least performing underlying relative to its 65% downside threshold, potentially causing partial or total loss of principal. Trade date is April 28, 2026, settlement May 1, 2026, final valuation April 29, 2030, maturity May 2, 2030. The estimated initial value per Note was $980.80, below the issue price.

The issuer UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100® Technology Sector, with a total issue price of $1,176,000 and a per-Note issue price of $1,000. The Notes pay a contingent coupon of 10.10% per annum only when each underlying asset meets its coupon barrier on observation dates. UBS may call the Notes monthly beginning after three months; if not called, repayment at maturity depends on whether the final level of each underlying asset meets its downside threshold (65% of initial level). Estimated initial value per Note is $970.60. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk.

UBS AG is offering $14,544,000 of Capped GEARS linked to the Russell 2000® Index. The Securities mature on June 30, 2027 (final valuation June 28, 2027) with a term of approximately 14 months. Each Security has an issue price of $10 and an estimated initial value of $9.785. At maturity a positive underlying return is multiplied by an upside gearing of 3.00 but the investor’s return is capped at a maximum gain of 21.55% (maximum payment $12.155 per Security). If the Russell 2000 final level is below the initial level, investors suffer the full downside of the index (possible loss of some or all principal). Payments are unsecured obligations of UBS and depend on UBS’ creditworthiness.

UBS AG offers a preliminary pricing supplement for 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 only if each underlying asset meets its coupon barrier on observation dates; otherwise no coupon is paid. The preliminary contingent coupon rate is 12.10% per annum. Issue price is $1,000.00 per Note with proceeds to UBS of $995.00 per Note after a $5.00 underwriting discount. Downside thresholds are 70.00% of initial levels and coupon barriers are 75.00% of initial levels. UBS may call the Notes quarterly beginning after six months; if not called and a final level of any underlying asset is below its downside threshold, principal repayment will be reduced proportionally to the loss of the least performing underlying asset. Payments are subject to UBS credit risk. The estimated initial value range is $959.40 to $989.40 as of the trade date.

The issuer, UBS AG, is offering Trigger Callable Contingent Yield Notes linked to the least performing of three ETFs: DIA (SPDR Dow Jones Industrial Average ETF), RSP (Invesco S&P 500 Equal Weight ETF) and XLV (Health Care Select Sector SPDR ETF). The Notes have a principal amount of $1,000 per Note, a contingent coupon rate of 8.10% per annum, monthly observation dates (callable after three months), an expected trade date of May 7, 2026, expected settlement May 12, 2026, final valuation date May 8, 2028 and maturity May 11, 2028. If UBS calls the Notes on an observation date, holders receive principal plus any contingent coupon then due. If not called, repayment at maturity equals principal only if each underlying’s final level is at or above its downside threshold (each set at 70.00% of its initial level); otherwise principal is reduced pro rata to the percentage decline of the least performing underlying asset, and in extreme cases investors may lose their entire investment. Estimated initial value on the trade date is expected between $951.60 and $981.60. Payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the least performing of the Nikkei 225® and the EURO STOXX 50®. The Notes have a principal amount of $10 per Note, trade date April 29, 2026, expected settlement April 30, 2026, final valuation date May 2, 2029 and expected maturity May 8, 2029.

The Notes pay periodic contingent coupons only if both underlying indices are at or above their coupon barriers on each observation date; the minimum contingent coupon rate disclosed is 9.65% per annum. The Notes are callable on specified quarterly observation dates (beginning after 12 months) if both indices are at or above call threshold levels (stated as 100.00% of initial levels), and principal repayment at maturity is contingent on the final levels relative to downside thresholds (stated as 65.00% of initial levels). The estimated initial value range is $9.431 to $9.731 per Note.

UBS AG London Branch is offering Contingent Income Auto-Callable Securities linked to the Class A common stock of Alphabet Inc. (GOOGL). Each security has a stated principal amount of $1,000, an expected pricing date of April 29, 2026, an expected original issue date of May 4, 2026 and an expected maturity of November 3, 2026.

Holders may receive a $11.50 contingent payment per security on a determination date if the closing price of GOOGL is ≥ the downside threshold (80.00% of the initial price). The securities may be auto-redeemed early if the closing price on an applicable determination date (starting with the third determination date) is ≥ the call threshold (100.00% of the initial price). If not redeemed and the final price is below the downside threshold, UBS has elected to deliver cash in lieu of shares and investors will receive a cash value equal to the exchange ratio × final price, exposing holders to a potential loss of a significant portion or all of principal. The estimated initial value range at pricing is $948.90–$978.90.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Intel Corporation stock due May 1, 2028. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets or exceeds a coupon barrier and 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. If not called and the final level is below the downside threshold, principal repayment is reduced pro rata to the underlying return, and investors could lose a significant portion or all of their initial investment. Payments depend on UBS creditworthiness. Trade and settlement dates are April 28, 2026 and April 30, 2026, with final valuation date April 27, 2028 and maturity May 1, 2028. The offering size shown is $835,000 and the minimum investment is 100 Notes at $10 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the iShares® MSCI Brazil ETF maturing on April 30, 2029. The notes may pay periodic contingent coupons only if the underlying closes at or above the 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 is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment is reduced in proportion to the underlying return and investors can lose a substantial portion or all of their initial investment. All payments are subject to the creditworthiness of UBS. Trade date is April 28, 2026 and settlement is expected on April 30, 2026. The estimated initial value per $10 Note on the trade date is $9.63. The notes are not FDIC insured and will not be listed on an exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation. The trade date is April 28, 2026, settlement is April 30, 2026, the final valuation date is April 26, 2029 and maturity is April 30, 2029. The Notes pay a contingent coupon on each coupon payment date only if the closing level of the underlying equals or exceeds the coupon barrier on the applicable observation date. The Notes will be automatically called early if the closing level on any quarterly observation date (beginning after six months) is equal to or greater than the initial level; in that event UBS pays principal plus any contingent coupon on the call settlement date and no further payments are due. If not called and the final level is at or above the downside threshold, principal is repaid at maturity; if the final level is below the downside threshold, repayment at maturity is reduced pro rata to the underlying return, which can result in a substantial loss or total loss of the principal. The Notes are unsecured obligations of UBS and payments depend on UBS's creditworthiness. The estimated initial value on the trade date is $9.73 per Note and the Notes are offered in minimum increments of 100 Notes ($1,000).

UBS AG is offering Airbag Autocallable Yield Notes linked to Applied Materials common stock with a one-year structure. The Notes pay a monthly coupon and are automatically called if the underlying closes at or above the initial level on an observation date; otherwise repayment at maturity is contingent on the final level versus the conversion level. If the final level is below the conversion level, investors receive a share delivery amount that may be worth less than principal. Payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Intel Corporation stock due on or about May 1, 2028. The preliminary pricing supplement (dated April 28, 2026) sets trade and settlement expectations 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 coupon barriers on observation dates and will be automatically called if the underlying meets or exceeds the initial level on any observation date prior to the final valuation date. If not called, 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 proportional to the underlying return, potentially resulting in a total loss. The document notes an estimated initial value range of $9.44 to $9.69 per $10 Note and a minimum investment of 100 Notes ($1,000).

UBS AG is offering $985,000 principal amount of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc. The Notes pay contingent coupons only if the underlying closes at or above the 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 only if the final level is at or above the downside threshold; otherwise repayment is reduced in proportion to the decline in the underlying, and you could lose all of your investment. Trade date is April 28, 2026, expected settlement April 30, 2026, final valuation date April 27, 2028 and maturity May 1, 2028. Any payments depend on UBS creditworthiness. The estimated initial value per Note is $9.75.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. (the underlying asset), maturing on April 30, 2027. Each Note has a principal amount of $10 and pays a contingent coupon only if the underlying's closing level on an observation date meets or exceeds the coupon barrier. The Notes will be automatically called if the underlying's closing level on any observation date prior to the final valuation date equals or exceeds the initial level; in that case UBS pays principal plus any contingent coupon on the call settlement date and the Notes terminate. If not called, repayment at maturity depends on the final level versus the downside threshold: if the final level is at or above the downside threshold you receive principal; if below, you receive $10 x (1 + Underlying Return), which can result in substantial loss up to the full investment. Estimated initial value as of the trade date is $9.76. Trade date is April 28, 2026 and expected settlement is April 30, 2026. Minimum investment is 100 Notes ($1,000). Any payments depend on UBS's creditworthiness.

UBS AG is offering $2,750,000 in Trigger Autocallable Contingent Yield Notes linked to Marvell Technology, Inc. common stock due April 30, 2029. The Notes pay a periodic contingent coupon only if the underlying closing level on an observation date is at or above a coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early if an observation-date closing level is at or above the initial level; on an automatic call UBS will pay principal plus any contingent coupon due. 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 $10 principal per Note; if the final level is below the downside threshold your cash payment equals $10 x (1 + underlying return), exposing you to the underlying’s full downside (in extreme cases you could lose all principal). Payments are subject to UBS credit risk. Trade date is April 28, 2026, settlement April 30, 2026, final valuation date April 26, 2029, maturity April 30, 2029. The estimated initial value was $9.74 per Note and minimum purchase is 100 Notes.

UBS AG priced a preliminary offer of Trigger Autocallable Contingent Yield Notes linked to the iShares MSCI Brazil ETF, with final terms to be set on the trade date. The Notes pay periodic contingent coupons only if observation-date levels meet the coupon barrier and feature an automatic call if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent: full principal is paid only if the final level is at or above the downside threshold; otherwise repayment declines in line with the underlying return, potentially resulting in a total loss. Trade date is April 28, 2026, settlement April 30, 2026, final valuation date April 26, 2029, and maturity April 30, 2029. The Notes are unsecured obligations of UBS and any payments depend on UBS creditworthiness. The offering minimum is 100 Notes at $10 per Note and the estimated initial value per Note is between $9.33 and $9.58.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Broadcom Inc. stock. The offering totals $1,295,000 with a trade date of April 28, 2026, expected settlement April 30, 2026, final valuation date April 27, 2028 and maturity May 1, 2028. The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates, are subject to an automatic call if the underlying equals or exceeds the initial level on an observation date, and repay principal at maturity only if the final level is at or above the downside threshold. If not called and the final level is below the downside threshold, principal is reduced pro rata to the underlying return and investors could lose a significant portion or all of their investment. Estimated initial value per Note is $9.81; principal amount per Note is $10. All payments are subject to UBS credit risk.

UBS AG is marketing a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, due on or about April 30, 2029. The Notes pay periodic contingent coupons only if the underlying meets specified coupon barriers on observation dates and are subject to an automatic call if the underlying meets or exceeds the initial level on any quarterly observation date beginning after six months.

If not called, principal repayment at maturity is contingent: if the final level is at or above the disclosed downside threshold, UBS will repay the $10 principal per Note; if the final level is below that threshold, repayment will be reduced pro rata to the underlying return, and investors could lose a significant portion or all of their investment. All payments are subject to UBS’s creditworthiness. The trade date is April 28, 2026 with settlement expected April 30, 2026.

UBS AG offers a preliminary pricing supplement for Airbag Autocallable Yield Notes linked to Applied Materials, Inc. stock, due on or about April 30, 2027. The trade date is April 28, 2026 with expected settlement on April 30, 2026. These unsubordinated, unsecured notes pay a coupon on each coupon payment date unless automatically called following certain observation-date tests. If an automatic call occurs, UBS will pay principal plus the coupon due on the related coupon payment date and the Notes will terminate. If not called, repayment at maturity is contingent: UBS will repay principal in cash only if the final level is at or above the conversion level; otherwise investors will receive a share delivery amount of Applied Materials stock (with cash for any fractional share), which could be worth less than principal and result in a partial or total loss of initial investment. The preliminary estimated initial value range is $953.40 to $978.40 per $1,000 Note and example coupon rates shown are approximately 12.39% per annum (monthly coupon ~$10.325). All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc., due on or about May 1, 2028. The Notes pay a periodic contingent coupon only if the underlying closing level on an observation date is ≥ the coupon barrier and are automatically called early if the underlying closes ≥ the initial level on any observation date. If not called, principal repayment at maturity is contingent: if the final level is ≥ the downside threshold, UBS will repay the $10 principal; if the final level is below the downside threshold, repayment may be less, equal to $10 × (1 + Underlying Return), exposing investors to the full downside of the underlying. Trade date is April 28, 2026 with expected settlement April 30, 2026. Minimum investment is 100 Notes ($1,000); the estimated initial value range is $9.37 to $9.62 per Note. Any amounts payable depend on UBS’s creditworthiness.

UBS AG is offering $985,000 in Trigger Autocallable Contingent Yield Notes linked to Vertiv Holdings Co, maturing May 1, 2028. The notes pay a periodic contingent coupon only if the underlying stock closes at or above a coupon barrier on observation dates; otherwise no coupon is paid. The notes are automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date, in which case holders receive principal plus any contingent coupon due on that call settlement date. If not called, repayment at maturity depends on the final level relative to a specified downside threshold: if the final level is below that threshold, principal is reduced proportionally to the underlying return and investors may lose a substantial part or all of their investment. Trade date is April 28, 2026, settlement expected April 30, 2026, final valuation date April 27, 2028. The estimated initial value per $10 note was $9.81. These notes are unsecured obligations of UBS and are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes pay periodic contingent coupons only if the underlying's closing level meets a coupon barrier on observation dates and may be automatically called if the underlying equals or exceeds the initial level on any observation date. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above the downside threshold; otherwise repayment is reduced pro rata to the underlying return, possibly to zero. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk. Trade date is April 28, 2026 with expected settlement on April 30, 2026 and maturity on April 30, 2027. The preliminary estimated initial value per $10 Note is between $9.45 and $9.70, and the minimum investment is 100 Notes.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to ConocoPhillips common stock maturing April 30, 2029. The Notes pay a periodic contingent coupon only if the underlying closes at or above the coupon barrier on observation dates; they are automatically called early if the underlying is at or above the initial level on any quarterly observation date beginning after six months. At maturity the principal ($10 per Note) is repaid only if the final level is at or above the downside threshold; if the final level is below that threshold, principal repayment is reduced proportionally and you can lose a large portion or all of your investment. Trade date is April 28, 2026 with expected settlement April 30, 2026; final valuation date is April 26, 2029. The estimated initial value per Note on the trade date is $9.74. Minimum purchase is 100 Notes ($1,000). All payments, including principal, are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., due on or about April 30, 2029. The preliminary pricing supplement sets final terms on the trade date and cites an estimated initial value range of $9.36 to $9.61 per $10 Note and a $1,000 minimum investment (100 Notes).

The Notes pay periodic contingent coupons only if the underlying closing level on an observation date is at or above a coupon barrier; they will be automatically called early if the underlying closes at or above the initial level on any observation date. Principal repayment at maturity is contingent: if the final level is below the downside threshold, repayment will be reduced proportionally (you may lose a significant portion or all of your investment). All payments are subject to UBS' creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc. The notes mature on May 1, 2028 with a final valuation date of April 27, 2028. The notes pay periodic contingent coupons only if the underlying's closing level on an observation date meets or exceeds the coupon barrier; they are 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: investors receive the $10 principal only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment is reduced proportionally to the underlying return and investors could lose a significant portion or all of their investment. Trade date is April 28, 2026 and settlement is expected on April 30, 2026. Minimum initial investment is 100 notes (representing $1,000); the estimated initial value range is $9.42 to $9.67.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Dell Technologies Inc. common stock, due April 30, 2029. The Notes pay periodic contingent coupons only when the underlying closing level is 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 is repaid at maturity only if the final level is at or above the downside threshold (stated as $50.00, or 50.00% of the initial level); otherwise investors suffer downside exposure and could lose a significant portion or all principal. The Notes have a $10 principal amount per Note, minimum purchase of 100 Notes ($1,000), estimated initial value $9.72, trade date April 28, 2026, settlement April 30, 2026, final valuation date April 26, 2029, and maturity April 30, 2029. All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds a coupon barrier and may be automatically called early if the underlying meets or exceeds the initial level on any observation date prior to maturity. If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is at or above the downside threshold; otherwise repayment is reduced pro rata to the underlying return and you could lose a significant portion or all of your investment. The Notes mature on April 30, 2029, have an estimated initial value of $9.70 per $10 Note as of the trade date, are offered in minimum blocks of 100 Notes ($1,000), and are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Vertiv Holdings Co with final valuation on April 27, 2028 and maturity on May 1, 2028. The Notes pay periodic contingent coupons only if the underlying meets the coupon barrier on observation dates and are automatically called early if the underlying equals or exceeds the initial level on any observation date. If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment is reduced pro rata to the underlying return and you could lose a substantial portion or all of your investment. Trade date is April 28, 2026 with settlement expected April 30, 2026. Minimum investment is 100 Notes at $10 per Note; estimated initial value is between $9.43 and $9.68 per Note. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of ConocoPhillips due on or about April 30, 2029. The Notes pay a periodic contingent coupon only if the underlying closing level meets the coupon barrier on observation dates and are subject to quarterly automatic early call if the underlyingreaches or exceeds the initial level.

If not called, principal is repaid at maturity only if the final level is at or above a disclosed downside threshold; if the final level is below that threshold the repayment will decline in direct proportion to the underlying return, and investors could lose a significant portion or all of their principal. Trade and settlement are expected on April 28, 2026 and April 30, 2026, respectively. Minimum purchase is 100 Notes ($1,000). The estimated initial value range is $9.38 to $9.63 per Note as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc. The notes mature on April 30, 2029 and include periodic contingent coupons paid only if the underlying's closing level meets a coupon barrier on observation dates. The notes feature an automatic call if the underlying equals or exceeds the initial level on any observation date prior to the final valuation date; a called note pays principal plus any contingent coupon 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; if below, repayment equals $10 × (1 + underlying return), which can result in a significant loss or a total loss of principal. Trade date is April 28, 2026 with expected settlement on April 30, 2026. The notes are unsecured obligations of UBS and any payments depend on UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. with final maturity on April 30, 2029. The notes pay periodic contingent coupons only if the underlying meets coupon barriers on observation dates and may be automatically called early.

Principal repayment at maturity is contingent: if the final level is below the downside threshold, investors suffer a loss equal to the underlying return; payments are subject to UBS credit risk. Trade and settlement are expected on April 28, 2026 and April 30, 2026, respectively.

UBS AG issued Trigger Autocallable Contingent Yield Notes linked to Microsoft common stock due May 1, 2028. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and will autocall quarterly (beginning ~12 months) if the underlying equals or exceeds the initial level. At maturity, if not called, principal is repaid only if the final level is at or above an 80.00% downside threshold; otherwise principal is reduced pro rata to the underlying return (losses, including total loss, are possible). Estimated initial value was $9.71 per $10 Note. 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 Microsoft Corporation due on or about May 1, 2028. The Notes pay a contingent coupon 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 date beginning after 12 months. If not called, repayment at maturity depends on the final level relative to a downside threshold; if the final level is below that threshold, principal will be reduced pro rata to the underlying return. The offering sets a minimum purchase of $1,000 (100 Notes at $10 per Note). The preliminary terms show an example contingent coupon rate of 11.52% per annum and an estimated initial value range of $9.41 to $9.66 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. stock due May 1, 2028. The $295,000 issuance pays contingent coupons only if the underlying's closing level on observation dates meets the coupon barrier and may be automatically called early if the underlying equals or exceeds the initial level on any prior 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, potentially resulting in a total loss. Payments depend on UBS's creditworthiness. Trade date is April 28, 2026, settlement April 30, 2026, final valuation date April 27, 2028, and maturity May 1, 2028.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Western Digital Corporation stock due April 30, 2029. The Notes pay a contingent coupon only when the underlying closing level on an observation date meets or exceeds a coupon barrier. The Notes are subject to an automatic call on quarterly observation dates beginning about nine months after issue if the underlying closing level is at or above the initial level; an automatic call results in payment of principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold you receive $10 per Note; if below, repayment equals $10 x (1 + underlying return), which can result in substantial loss, including total loss. Payments are unsecured obligations of UBS and depend on UBS creditworthiness. Trade date is April 28, 2026, settlement April 30, 2026, final valuation date April 26, 2029, and maturity April 30, 2029. Minimum initial purchase is 100 Notes ($1,000). The estimated initial value on the trade date was $9.58.

UBS AG priced a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock due on or about May 1, 2028. The Notes pay contingent coupons only when the underlying meets a 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: 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 most or all of their principal. The Notes are unsecured obligations of UBS AG and subject to UBS credit risk. Trade and settlement are expected on April 28, 2026 and April 30, 2026, with the final valuation date of April 27, 2028. The Notes have a $10 principal amount per Note and an estimated initial value range of $9.42–$9.67 as of the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Western Digital Corporation due on or about April 30, 2029. This is a preliminary pricing supplement dated April 28, 2026 and the final terms will be set on the trade date.

The Notes pay periodic contingent coupons only if the underlying closing level on an observation date equals or exceeds the coupon barrier; they are automatically called if the underlying closes at or above the initial level on any quarterly observation date beginning after nine 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 up to the full principal. The offering has a minimum purchase of 100 Notes at $10 per Note; the estimated initial value range is $9.24 to $9.49 per Note as of the trade date. All payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing May 1, 2028. The notes pay periodic contingent coupons only if the underlying closes at or above the 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: you receive $10 per Note if the final level is at or above the downside threshold; if the final level is below the downside threshold, repayment equals $10 x (1 + underlying return), exposing holders to downside market loss (potentially 100%). Trade date is April 28, 2026, expected settlement April 30, 2026, final valuation date April 27, 2028 and maturity May 1, 2028. Minimum investment is 100 Notes ($1,000). Estimated initial value on the trade date was $9.82. All payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation with an expected trade date of April 28, 2026, settlement on April 30, 2026, a final valuation date of April 27, 2028 and a maturity of May 1, 2028. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates, are subject to automatic early call if the underlying closes at or above the initial level on an observation date, and repay principal at maturity only if the final level is at or above a stated downside threshold (example: 50.00%). The Notes have a $10 principal amount per Note, a minimum purchase of 100 Notes ($1,000), an example contingent coupon rate of 8.70% per annum and an estimated initial value range of $9.45 to $9.70 per Note. Any payments depend on UBS’s creditworthiness and investors may lose a significant portion or all of their investment.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Devon Energy Corporation common stock due May 1, 2028. The Notes pay a contingent coupon on each coupon payment date only if the underlying closing level on the applicable observation date is at or above the coupon barrier. The Notes will be automatically called early on any quarterly observation date (beginning after six months) if the underlying closing level is at or above the initial level; called Notes pay principal plus any contingent coupon due on the corresponding call settlement date. If not called, principal repayment at maturity depends on the final level relative to the downside threshold: if the final level is below the downside threshold you can suffer a loss equal to the percentage decline in the underlying, potentially losing your entire investment. Payments are subject to UBS credit risk. Trade and settlement dates, observation schedule, estimated initial value and other final terms are set in the pricing supplement and product supplement.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock due April 30, 2029. The notes pay contingent coupons only if observed closing levels meet a coupon barrier and are automatically called early if the underlying equals or exceeds the initial level on any observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold; if the final level is below that threshold you could lose a portion or all of your investment. Trade date is April 28, 2026, settlement April 30, 2026, final valuation date April 26, 2029, and maturity April 30, 2029. The estimated initial value was $9.66 per $10 note and payments remain subject to UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Devon Energy Corporation, with final terms set on the trade date. The Notes pay periodic contingent coupons only if the underlying closes at or above the coupon barrier on observation dates and can be automatically called quarterly (beginning after six months) if the underlying equals or exceeds the initial level on an observation date. If not called, repayment at maturity depends on whether the final level is at or above the downside threshold; if below, the cash payment may be less than principal, exposing investors to full downside market loss tied to the underlying return. Trade date is April 28, 2026, settlement April 30, 2026, final valuation date April 27, 2028, and maturity about May 1, 2028. The Notes have a principal amount of $10 per Note, minimum investment 100 Notes ($1,000), and an estimated initial value range of $9.36 to $9.61.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The notes have an expected trade date of April 28, 2026, a final valuation date of April 26, 2029 and a maturity date of April 30, 2029. Each Note has a principal amount of $10 and a minimum purchase of 100 Notes.

The Notes pay periodic contingent coupons only if the underlying closing level is at or above a coupon barrier on observation dates, and are autocallable 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 will be reduced proportionally to the underlying return, potentially causing a substantial or total loss. Estimated initial value is between $9.35 and $9.60 per Note. All payments are subject to UBS credit risk.

UBS AG is offering $11,824,000 in Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000®, S&P 500® and EURO STOXX 50® indices. The Notes pay quarterly contingent coupons only if each index stays at-or-above its coupon barrier during an observation period. UBS may call the Notes quarterly prior to the final valuation date; if not called, principal repayment at maturity depends on whether each index is at-or-above its 60% downside threshold. Trade Date is April 24, 2026, Final Valuation Date is January 24, 2030, and Maturity Date is January 28, 2030. The estimated initial value was $9.885 per Note; Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Yield Notes linked to Applied Materials, Inc. common stock with a coupon of 10.50% per annum. The notes are callable quarterly beginning after ~12 months and mature on May 2, 2030. Principal repayment at maturity is contingent: if the final closing level of the underlying is at or above the downside threshold (50.00% of the initial level), UBS will repay principal; if below, repayment will decline in proportion to the underlying return, potentially causing loss of most or all principal. The call threshold is 100.00% of the initial level. Issue price is $1,000.00 per Note; UBS Securities LLC will receive an underwriting discount of $31.00 per Note, leaving proceeds to UBS of $969.00 per Note. The estimated initial value range is $933.60 to $963.60 as of the trade date. All payments depend on UBS creditworthiness; the Notes are unsecured, unlisted, and subject to liquidity, pricing-model, hedging and conflict-of-interest risks.

UBS AG is offering Buffer Autocallable Contingent Yield Notes (the "Notes") linked to the least performing of the VanEck® Gold Miners ETF (GDX) and the State Street® Energy Select Sector SPDR® ETF (XLE). The Notes pay a contingent coupon of 12.35% per annum when, on monthly coupon observation dates, the closing level of each underlying asset is at or above its coupon barrier; unpaid coupons may be paid later under a memory interest feature. The Notes are subject to quarterly automatic calls (beginning after six months) if both underlying assets meet their call thresholds, in which case holders receive principal plus due coupons on the related coupon payment date.

If not called, principal repayment at maturity depends on the least performing underlying asset: if each final level is at or above its downside threshold the full principal of $1,000 per Note is repaid; if the least performing underlying asset declines below its downside threshold, repayment is reduced by that asset’s loss in excess of the 20.00% buffer, and holders can lose a substantial portion or nearly all of their investment. All payments are subject to UBS credit risk; the estimated initial value per Note on the trade date was $956.30 while the issue price was $1,000 per Note.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. The Notes pay a contingent coupon of 10.45% per annum on any coupon payment date only if each underlying index is at or above its coupon barrier on the related observation date. UBS may call the Notes in whole on monthly observation dates beginning after six months; if called you receive principal plus any contingent coupon due. If not called, principal is repaid at maturity only if each index is at or above its downside threshold; otherwise repayment equals $1,000 × (1 + underlying return of the least performing underlying asset), which can result in significant loss or total loss of principal. Trade date is April 27, 2026, final valuation date is April 27, 2029, and maturity is May 2, 2029. Payments are unsecured obligations of UBS and depend on UBS creditworthiness. The estimated initial value per Note on the trade date was $965.90, below the issue price.

UBS AG is offering Trigger Autocallable Notes linked to the least performing of the Russell 2000® Index, the EURO STOXX 50® Index and shares of the State Street® Utilities Select Sector SPDR® ETF. The Notes have a principal amount of $1,000 per Note, an expected term of approximately 5 years, and a 15.60% per annum call return rate. UBS will automatically call the Notes on any observation date (quarterly, beginning after 12 months) if each underlying asset’s closing level is at or above its call threshold (100% of initial level). If not called, repayment at maturity depends on the least performing underlying asset relative to its 70.00% downside threshold, which can result in a significant loss or total loss of principal. Trade date is April 29, 2026, expected settlement May 4, 2026, and maturity May 2, 2031. The estimated initial value range is $908.50–$938.50 and the issue price is $1,000 per Note. Payments are subject to UBS credit risk.