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

UBS AG is offering $560,000 of Trigger Callable Contingent Yield Notes due March 29, 2029 linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. The Notes pay a contingent coupon of 11.45% per annum only if each underlying meets its coupon barrier on observation dates and are issuer-callable monthly beginning after three months.

The issue price is $1,000 per Note (estimated initial value $988.30), with proceeds to UBS of $556,080 and an underwriting discount of $7 per Note. Each index has a downside threshold at 60% of its initial level and a coupon barrier at 70% of its initial level; principal repayment at maturity depends on the least performing underlying and UBS creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Bank of America, Chipotle and Northrop Grumman, maturing on or about April 5, 2029. The Notes are sold in minimum units of 100 Notes at $10.00 per Note and pay contingent quarterly coupons only if observation-date closing levels meet a coupon barrier; they are automatically callable if an observation-date closing level meets the call threshold (callable beginning after six months).

Key risk features: contingent repayment of principal at maturity tied to a downside threshold (ranges disclosed per offering), potential for full loss of principal if final level falls below the downside threshold, and payments are subject to the creditworthiness of UBS. The trade date is March 30, 2026 and settlement is March 31, 2026. Estimated initial values per Note are provided as ranges and are lower than the issue price due to underwriting, hedging and issuance costs.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Generac Holdings Inc. The Notes have an expected trade date of March 26, 2026, settlement March 30, 2026, final valuation date March 28, 2029 and maturity April 2, 2029.

The Notes pay periodic contingent coupons only if the underlying closing level on an observation date is at or above the coupon barrier; they are automatically called early if the underlying closes at or above the initial level on an observation date. If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold you receive the $10 principal; if below, repayment equals $10 x (1 + Underlying Return), which can result in a substantial loss, including a complete loss of principal in extreme scenarios. The offering lists a minimum investment of 100 Notes at $10 per Note and an estimated initial value of $9.33 per Note. All payments, including contingent coupons and principal, are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Generac Holdings Inc. due on or about April 2, 2029. The Notes pay contingent coupons only if the underlying closing level meets a coupon barrier on observation dates and may be automatically called early if the underlying meets or exceeds the initial level on an observation date. The Notes have a $10 principal amount per Note with a minimum purchase of 100 Notes (representing a $1,000 minimum investment). Trade date is March 26, 2026 with expected settlement March 30, 2026 and final valuation date March 28, 2029. UBS states an estimated initial value between $8.95 and $9.20 per Note as of the trade date. Payments, including any contingent coupons or principal repayment, are subject to the creditworthiness of UBS, and investors may lose a significant portion or all of their investment if the final level is below the downside threshold.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of United Airlines Holdings, Inc., maturing on March 30, 2028. The Notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates and are automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal repayment at maturity is contingent: if the final level is below the downside threshold you may suffer a loss equal to the underlying return, potentially losing your entire investment. Example terms shown: contingent coupon rate 22.70% per annum, downside threshold and coupon barrier equal to $60.00 (60% of initial level), estimated initial value $9.79, and minimum investment $1,000 (100 Notes). All payments remain subject to UBS creditworthiness and market/disruption provisions.

UBS AG is offering $2,440,000 in Trigger Autocallable Contingent Yield Notes linked to KKR & Co. Inc. common stock due March 30, 2028. The Notes pay a contingent coupon on each coupon payment date only if the underlying closing level on the applicable observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes are automatically called if the underlying closes at or above the initial level on any quarterly observation date beginning after six months, in which case investors receive 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 the principal is repaid; if below, repayment equals $10 x (1 + underlying return), potentially resulting in substantial or total loss of principal. Key disclosed terms: contingent coupon rate example 16.69% per annum, coupon amount example $0.4173 per $10 Note, estimated initial value $9.76, minimum investment 100 Notes ($1,000). All payments are subject to UBS credit risk; the product is not FDIC insured.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Corning Incorporated common stock due March 30, 2028. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and may be automatically called early if the underlying closes at or above the initial level on any prior 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, the cash repayment equals $10 × (1 + underlying return), exposing investors to the underlying’s negative return and possible total loss of principal. Payments depend on UBS’s creditworthiness. Trade and settlement are in March 2026, with final valuation on March 28, 2028 and maturity on March 30, 2028. The estimated initial value on the trade date is $9.72 per Note.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of United Airlines Holdings, Inc. The Notes trade on March 26, 2026

The Notes mature on March 30, 2028, can be automatically called early if the underlying closes at or above the initial level on an observation date, and pay contingent coupons only when the underlying equals or exceeds a coupon barrier. Minimum investment is 100 Notes ($1,000). The issuer’s creditworthiness governs any payment; investors may lose a significant portion or all principal if the final level is below the downside threshold. The estimated initial value range on the trade date is between $9.45 and $9.70 per Note.

UBS AG intends to offer Trigger Autocallable Contingent Yield Notes linked to the common stock of KKR & Co. Inc. The preliminary pricing supplement dated March 26, 2026 sets a trade date of March 26, 2026, settlement on March 30, 2026, final valuation on March 28, 2028 and maturity on March 30, 2028.

The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates (quarterly, beginning after six months) and will be automatically called early if the underlying closes at or above the initial level on any pre-final observation date; an automatic call pays principal plus any contingent coupon due on the call settlement date. If not called, principal is repaid at maturity only if the final level is at or above a disclosed downside threshold; otherwise repayment falls with the underlying return and investors can lose a significant portion or all principal.

Key terms disclosed here include a minimum investment of 100 Notes (representing $1,000), an estimated initial value range of $9.37 to $9.62 per Note as of the trade date, and example parameters showing a 60.00% downside threshold and a hypothetical contingent coupon near 14.17% per annum. All payments are subject to UBS credit risk.

UBS AG issues a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to Corning Incorporated due on or about March 30, 2028. The Notes pay periodic contingent coupons only if the underlying stock meets coupon barriers on observation dates and can be automatically called early if the stock reaches the initial level on an observation date. The Notes repay principal at maturity only if the final level is at or above the downside threshold; otherwise investors suffer a loss equal to the underlying return and could lose their entire investment. The offering requires a minimum purchase of 100 Notes at $10 per Note (a $1,000 minimum). The trade date is March 26, 2026, settlement is expected on March 30, 2026, and the estimated initial value range is $9.41 to $9.66 per Note. The preliminary supplement emphasizes that all payments depend on UBS creditworthiness and that the Notes are subject to substantial market and liquidity risks.

UBS AG is offering Contingent Income Auto-Callable Securities linked to the common stock of Microsoft Corporation with a stated principal amount of $1,000.00 per security. Expected pricing date is April 2, 2026, expected original issue date is April 8, 2026, and expected maturity is April 5, 2029, subject to adjustment.

The securities pay a contingent payment of $25.25 (equivalent to 10.10% per annum) on each determination date if the underlying closing price is at or above the downside threshold of 65.00% of the initial price. If the underlying closing price on a determination date (other than the final determination date) is at or above the call threshold of 100.00% of the initial price, the securities will be redeemed early for principal plus the contingent payment.

If not redeemed early and the final price is below the downside threshold, UBS has elected to deliver cash in lieu of shares and investors will receive the cash value (exchange ratio × final price), exposing holders to loss of principal, potentially up to the entire investment. All payments are subject to the credit risk of UBS AG.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Apple Inc. common stock due on or about April 5, 2029. The Notes have a term of approximately 3 years (trade date March 30, 2026; settlement April 2, 2026) and a principal amount of $1,000 per Note.

The Notes may pay quarterly contingent coupons at a per annum rate set on the trade date in the range 10.00% to 10.50% and feature an automatic call if the underlying stock closes at or above the call threshold (set at 100.00% of the initial level) on an observation date. The coupon barrier and downside threshold are each 70.00% of the initial level; if the Notes are not called and the final level is below the downside threshold, repayment at maturity can be less than principal, potentially resulting in a substantial or total loss. The estimated initial value range is $942.70 to $972.70, the issue price is $1,000 per Note, and underwriting discount is $20.00 per Note.

UBS AG is offering Contingent Income Auto-Callable Securities with Memory Coupon due on or about April 7, 2027, linked to the ADRs of Taiwan Semiconductor Manufacturing Company Limited ("TSM"). These securities have a $1,000 stated principal amount per security and pay a contingent payment of $33.00 (equivalent to 13.20% per annum) on each contingent payment date only if the closing price of the underlying ADR on the related determination date is at least 60.00% of the initial price (the downside threshold). If the closing price meets the call threshold (equal to 100.00% of the initial price) on an early determination date, the securities are automatically redeemed for the stated principal plus the contingent payment(s). If not redeemed and the final price is below the downside threshold, investors receive a cash value equal to the exchange ratio multiplied by the final price and may lose a significant portion, or all, of their investment. Pricing date is expected to be April 2, 2026 and the original issue date is expected to be April 8, 2026. All payments are subject to the credit risk of UBS AG.

UBS AG is offering Contingent Income Auto-Callable Securities linked to the common stock of Apple Inc. The securities have a $1,000.00 stated principal amount per security, an expected pricing date of April 2, 2026, and an expected maturity date of about April 5, 2029.

Holders may receive a contingent payment of $26.00 (10.40% per annum) on specified determination dates if the closing price of Apple is at or above the downside threshold level (equal to 70.00% of the initial price). The notes are auto-callable if Apple’s closing price meets or exceeds the call threshold (equal to 100.00% of the initial price) on a determination date; otherwise holders face downside exposure and may receive a cash value at maturity that could be substantially less than principal. All payments are subject to UBS AG credit risk.

UBS AG is offering Airbag Autocallable Yield Notes linked to the least performing of Alphabet Class C (GOOG), NVIDIA (NVDA) and TSMC ADRs (TSM). Each Note has a principal amount of $1,000, a coupon rate of 12.25% per annum and a term of approximately two years unless automatically called.

The strike date is March 25, 2026, trade date March 26, 2026, final valuation date March 27, 2028 and maturity March 30, 2028. Call threshold levels equal 100.00% of initial levels; conversion levels equal 66.75% of initial levels. Initial levels are GOOG $289.59, NVDA $178.68, and TSM $347.75. If not called and any final level is below its conversion level, holders receive a share delivery amount of the least performing underlying asset, which may be worth less than principal.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the Swiss Market Index and the S&P 500® Index with a term of approximately three years and a principal amount of $10 per Note. The securities pay periodic contingent coupons only if both underlyings meet coupon barriers on observation dates; they are callable quarterly beginning after six months and repay principal at maturity only if both underlyings are at or above their downside thresholds. The contingent coupon rate range is 8.40% to 9.00% per annum; the estimated initial value range is $9.273 to $9.573 per Note. Trade date is March 27, 2026, settlement March 31, 2026, final valuation date March 27, 2029, and maturity March 29, 2029. All payments are unsecured obligations of UBS and subject to UBS credit risk; investors may lose a significant portion or all of their investment if the Notes are not called and a least performing underlying is below its downside threshold.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation due March 27, 2028. The notes pay contingent quarterly coupons only if the underlying closes at or above a coupon barrier and are automatically called if the underlying closes at or above the initial level on quarterly observation dates beginning after 12 months.

If not called, principal is repaid at maturity only if the final level is at or above an 80.00% downside threshold; if the final level is below that threshold you incur a loss equal to the underlying return, and could lose all principal. The notes are unsecured obligations of UBS and are subject to UBS credit risk. The estimated initial value on the trade date was $9.79 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation due on or about March 27, 2028. The notes pay periodic contingent coupons only if the underlying stock meets the coupon barrier on observation dates and will be automatically called early if the stock reaches or exceeds the initial level on any quarterly observation date after 12 months. If not called, principal is repaid at maturity only if the final level is at or above an 80.00% downside threshold; otherwise, repayment falls with the underlying return and investors can lose a substantial portion or all principal. Trade date is March 25, 2026 with settlement March 27, 2026. Minimum investment is 100 notes ($1,000). UBS states an estimated initial value range of $9.43 to $9.68 per $10 note and provides a hypothetical contingent coupon rate of 12.22% per annum in examples.

UBS is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes trade March 25, 2026, settle March 27, 2026, have a final valuation date of March 23, 2028 and mature on March 27, 2028. Each Note has a Principal Amount of $10, a minimum investment of 100 Notes, and an estimated initial value of $9.82 as of the trade date.

The Notes pay a periodic contingent coupon 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 maturity is at or above the initial level, in which case holders receive principal plus any contingent coupon then due. If not called, repayment at maturity depends on the final level relative to the downside threshold (example downside threshold shown as $50.00, or 50.00% of the initial level); if the final level is below that threshold, holders suffer a loss equal to the underlying return and could lose the entire principal. Any payment is subject to the creditworthiness of UBS AG.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. common stock due on or about March 27, 2028. The preliminary pricing supplement dated March 25, 2026 sets the trade date as March 25, 2026 and expected settlement on March 27, 2026.

Each Note has a principal amount of $10, a minimum purchase of 100 Notes ($1,000), and an estimated initial value between $9.44 and $9.69. The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier (example coupon barrier and downside threshold shown as $50.00, equal to 50.00% of the initial level). The Notes may autocall early if the underlying closes at or above the initial level on an observation date; otherwise repayment at maturity is contingent on the final level and could result in a loss equal to the underlying return, including a total loss of principal. All payments are subject to UBS's creditworthiness and the final terms will be set on the trade date.

UBS AG offers $600,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of ServiceNow, Inc., due March 27, 2028. The Notes pay periodic contingent coupons only if the underlying closing level meets a coupon barrier on observation dates and are automatically called if the underlying closes at or above the initial level on a quarterly observation (beginning after six months).

If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold the principal amount is paid; if below, holders suffer a loss equal to the percentage decline in the underlying and could lose all principal. Payments depend on UBS creditworthiness.

UBS AG is offering $810,000 in Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. Class C stock, due March 27, 2029. The Notes pay contingent coupons only if observation-date closing levels meet a coupon barrier, can be autocalled early if the underlying meets the initial level, and repay principal at maturity only if the final level is at or above a downside threshold; otherwise investors suffer a loss equal to the underlying return and could lose their entire investment. The Notes are unsecured obligations of UBS and subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation due March 27, 2029. The Notes pay contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and can be automatically called early if the underlying meets or exceeds the initial level on any prior observation date. The Notes repay principal at maturity only if the final level is at or above a 70.00% downside threshold; if below, principal repayment is reduced pro rata to the underlying return and investors could lose a significant portion or all of their investment. Trade and settlement dates are March 25, 2026 and March 27, 2026; final valuation and maturity dates are March 23, 2029 and March 27, 2029. Minimum investment is 100 Notes at $10 per Note; the estimated initial value is $9.69. An illustrative contingent coupon rate shown is 15.08% per annum and the downside threshold and coupon barrier example are $70.00 (70.00% of the initial level). Any payments are subject to UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology common stock due March 29, 2027. The Notes pay a contingent coupon only if the underlying closes at or above a coupon barrier on observation dates and may be automatically called quarterly beginning after nine months if the underlying equals or exceeds the initial level. If not called, principal is repayable at maturity only if the final level is at or above a downside threshold; otherwise principal is reduced pro rata to the underlying return and could result in total loss. Payments depend on UBS creditworthiness. Trade and settlement dates are March 25, 2026 and March 27, 2026. The estimated initial value was $9.67 per Note; minimum investment is 100 Notes ($1,000). Example terms show a 28.04% per annum contingent coupon rate, a downside threshold of $65.00 (65% of initial level), and illustrative outcomes including a potential payment of $3.90 per Note in a negative scenario.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Class C capital stock of Alphabet Inc. The trade date is March 25, 2026, settlement is March 27, 2026, final valuation date is March 23, 2029, and expected maturity is March 27, 2029. The Notes are sold in $10 denominations with a minimum purchase of 100 Notes ($1,000).

The Notes pay periodic contingent coupons only if the underlying closing level on each observation date is at or above the coupon barrier; otherwise no coupon is paid. The Notes are automatically called if the underlying closes at or above the initial level on any observation date prior to maturity. If not called, principal repayment at maturity is contingent: full principal is repaid if the final level is at or above the downside threshold (70% of the initial level); otherwise repayment is reduced pro rata to the underlying return and investors may lose a significant portion or all of their investment. Estimated initial value range is $9.36 to $9.61 per Note as of the trade date. All payments are subject to UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of ServiceNow, Inc. The preliminary pricing supplement dated March 25, 2026 sets trade and settlement dates of March 25, 2026 and March 27, 2026, with a final valuation date of March 23, 2028 and maturity on March 27, 2028.

The Notes pay periodic contingent coupons only if the underlying closing level meets or exceeds a coupon barrier on observation dates and are automatically called if the underlying equals or exceeds the initial level on any quarterly observation (beginning ~6 months). If not called, principal is returned at maturity only if the final level is at or above the downside threshold; otherwise principal is reduced pro rata to the underlying return, with potential for total loss. Examples show a $10 principal, an illustrative contingent coupon of $0.3595 per $10 Note (a 14.38% per annum rate in the example), and a sample downside outcome paying $3.00 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation stock due on or about March 27, 2029. The notes pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on an observation date and are automatically called 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, UBS will repay the $10 principal; if the final level is below that threshold, repayment will be reduced proportionally to the underlying return, potentially resulting in a total loss of principal. Any payments depend on UBS’s creditworthiness. Trade date is March 25, 2026, settlement is March 27, 2026, final valuation date is March 23, 2029, and the notes are offered in minimum denominations of 100 notes at $10 per note. The preliminary pricing range for the estimated initial value on the trade date is between $9.36 and $9.61.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. stock due on or about March 29, 2027. The Notes pay a contingent coupon only when the underlying closing level meets or exceeds a coupon barrier on observation dates; they are auto‑callable quarterly beginning after nine months if the underlying closes at or above the initial level. At maturity, if not called and the final level is below the downside threshold, repayment may be reduced pro rata to the underlying return and you could lose a significant portion or all of your investment. Trade date is March 25, 2026, settlement date is March 27, 2026, final valuation date is March 24, 2027. Minimum investment is 100 Notes at $10 per Note; estimated initial value range is between $9.41 and $9.66 per Note as of the trade date.

UBS AG is offering $1,245,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company due March 27, 2029. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and are automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date.

If not called, repayment at maturity depends on the final level relative to a downside threshold (60.00% of the initial level in the examples). If the final level is below that threshold, principal is reduced pro rata to the underlying return and you could lose a significant portion or all of your investment. Principal repayment and any coupons are subject to UBS credit risk. Trade date is March 25, 2026, settlement March 27, 2026, final valuation date March 23, 2029, and maturity March 27, 2029. Minimum investment is 100 Notes at $10 per Note; 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 Marvell Technology, Inc. due March 27, 2028. The Notes pay contingent coupons only if the underlying's closing level on observation dates meets the coupon barrier and can be automatically called early if the underlying reaches the initial level.

The offering lists a nominal size of $750,000. Key dates: trade date March 25, 2026, expected settlement March 27, 2026, final valuation date March 23, 2028. Minimum purchase is 100 Notes at $10 per Note (a $1,000 investment); the estimated initial value as of the trade date is $9.80 per Note. Payments, including principal, depend on (1) observation/final levels relative to the coupon barrier and downside threshold and (2) UBS's creditworthiness. The Notes are not exchange listed and carry significant risk of loss of principal if the final level is below the downside threshold.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Hewlett Packard Enterprise Company maturing on March 29, 2027. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets or exceeds a coupon barrier; otherwise no coupon is paid. The Notes are automatically called early if the underlying closing level on any observation date prior to the final valuation date is equal to or greater than the initial level, in which case holders receive principal plus any contingent coupon on the related call settlement date. If the Notes reach maturity without an automatic call and the final level is below the downside threshold, principal repayment is reduced pro rata to the underlying return and investors can lose a substantial portion or all of their investment. The Notes are unsecured obligations of UBS and any payment is subject to UBS's creditworthiness. Trade and settlement dates are March 25, 2026 and March 27, 2026, respectively; final valuation and maturity dates are March 24, 2027 and March 29, 2027.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company due on or about March 27, 2029. The Notes feature periodic contingent coupons payable only if the underlying stock closes at or above a coupon barrier on observation dates, an automatic call if the underlying equals or exceeds the initial level on an observation date, and contingent repayment of principal at maturity that can expose holders to full downside market loss if the final level is below the downside threshold.

Key disclosed mechanics: trade date March 25, 2026; settlement date March 27, 2026; final valuation date March 23, 2029; minimum investment 100 Notes at $10 per Note; estimated initial value range $9.34–$9.59. The offering is subject to delivery of final Offering Documents and is payable only to the extent of UBS’s creditworthiness.

UBS AG priced $2,935,500 Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation, due March 27, 2029. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on specified observation dates and are automatically called if the underlying closes at or above the initial level on any quarterly observation date beginning after six months. If not called, principal is repaid at maturity only if the final level is at or above a downside threshold (example: $10 principal, downside threshold $60.00, coupon barrier $60.00). If the final level is below the downside threshold, repayment may be less than principal (example shows $3.60 per Note). The Notes carry issuer credit risk of UBS; estimated initial value is $9.72 per Note and minimum purchase is 100 Notes ($1,000).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., due on or about March 27, 2028. The Notes have a principal amount of $10 per Note and are sold in minimum increments of 100 Notes ($1,000).

The Notes may pay periodic contingent coupons only if the underlying stock closes at or above a specified coupon barrier on observation dates; they will be automatically called if the underlying closes at or above the initial level on any pre-maturity observation date. At maturity the principal is repaid in full only if the final level is at or above the downside threshold (70% of initial level); if below that threshold, principal is reduced pro rata to the underlying return and you could lose most or all principal.

The preliminary pricing supplement shows an illustrative contingent coupon rate of 24.90% per annum (illustrative contingent coupon $0.6225 per $10 Note) and an estimated initial value range of $9.41 to $9.66. All payments are subject to UBS credit risk; the final terms will be set on the trade date.

UBS AG is offering a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Hewlett Packard Enterprise Company, with expected trade date March 25, 2026, settlement March 27, 2026, final valuation date March 24, 2027 and maturity about March 29, 2027. The Notes pay periodic contingent coupons only if the underlying closing level on each observation date meets or exceeds a coupon barrier; they are automatically called 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 returned only if the final level is at or above the downside threshold; otherwise repayment is reduced pro rata by the underlying return, and investors could lose a significant portion or all principal. The Notes are unsecured obligations of UBS and payments depend on UBS's creditworthiness. The offering is preliminary and the final terms will be set on the trade date.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation with an expected term to March 27, 2029. The Notes pay a contingent coupon only when the underlying closing level meets or exceeds a coupon barrier on an observation date and are subject to automatic early redemption (quarterly observation dates beginning after six months) if the underlying closing level is equal to or greater than the initial level on an observation date.

The Notes have a principal amount of $10 per Note, a minimum investment of 100 Notes (representing a $1,000 minimum), and an estimated initial value range of $9.33 to $9.58 as of the trade date. If not auto‑called, repayment at maturity depends on the final level relative to a downside threshold (example: downside threshold = $60.00, equal to 60.00% of the initial level); if the final level is below that threshold, the cash payment may be less than principal and could result in a total loss.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of MGM Resorts International due March 29, 2027. The notes pay contingent coupons only if the underlying meets the coupon barrier on observation dates and may autocall early if the underlying reaches the initial level on any observation date prior to the final valuation date.

If the notes do not autocall, repayment of principal at maturity is contingent: if the final level is at or above the downside threshold the principal is returned, but if it is below, the principal is reduced pro rata to the underlying return and could result in a total loss. Payments are subject to the creditworthiness of UBS. Trade and settlement dates are March 25, 2026 and March 27, 2026, with final valuation on March 24, 2027. The notes have a minimum investment of 100 notes ($1,000) and an estimated initial value of $9.71 per note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of MGM Resorts International, with final terms set on the trade date.

The trade date is March 25, 2026, settlement is March 27, 2026, the final valuation date is March 24, 2027, and maturity is March 29, 2027. Notes are sold in minimum increments of 100 Notes at $10 per Note ($1,000). The estimated initial value is stated between $9.45 and $9.70 per Note.

Payments are contingent: periodic coupons are paid only if the underlying closing level meets or exceeds the coupon barrier on observation dates; automatic early call and full principal repayment occur if the underlying closes at or above the initial level on an observation date. If not called and the final level is below the downside threshold, principal repayment at maturity may be reduced proportionally to the underlying return, potentially resulting in a substantial loss or total loss of principal. All payments are subject to the creditworthiness of UBS AG.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation. The Notes pay a contingent coupon on each coupon payment date only if the underlying closing level on the observation date is at or above the coupon barrier; otherwise no coupon is paid. UBS will automatically call the Notes early if the underlying closing level on any observation date before the final valuation date is at or above the initial level, in which case holders receive principal plus any contingent coupon due on the related coupon payment date.

The Notes mature on March 29, 2027 with a final valuation date of March 24, 2027. Example economics for a $10 Note show a contingent coupon rate of 10.28% per annum (contingent coupon $0.257) and a downside threshold and coupon barrier at $75.00 (75.00% of the initial level). The estimated initial value is $9.74. Minimum investment: 100 Notes (representing $1,000).

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Microsoft Corporation stock due March 29, 2027. 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 meets or exceeds the initial level on any observation date. Trade date is March 25, 2026, settlement is March 27, 2026, final valuation date is March 24, 2027, and maturity is March 29, 2027.

The Notes repay principal at maturity only if the final level is at or above the downside threshold; if the final level is below that threshold, principal is reduced pro rata to the underlying return and investors could lose most or all of their investment. Minimum investment is 100 Notes ($1,000); estimated initial value range is $9.48–$9.73 per $10 Note. Example contingent coupon shown: $0.2303 per $10 Note (annualized 9.21% in the hypothetical).

UBS AG is offering $750,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Applied Materials, Inc. The Notes mature on March 27, 2028 and may be automatically called early if the underlying stock closes at or above the initial level on an observation date.

The Notes pay periodic contingent coupons only when the closing level of the underlying equals or exceeds a coupon barrier on an observation date; otherwise no coupon is paid. If not called and the final level is below the downside threshold, principal repayment at maturity is contingent and can result in a loss equal to the underlying return, potentially losing all principal. The estimated initial value per $10 Note is $9.81, minimum purchase is 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates and may be automatically called quarterly beginning about six months after trade.

If not called, principal repayment at maturity depends on the final stock level relative to a downside threshold; if the final level is below that threshold, principal is reduced pro rata to the underlying return and investors could lose a significant portion or all of their investment. Key dates: trade date March 25, 2026, settlement March 27, 2026, final valuation March 23, 2029, maturity March 27, 2029. Minimum investment is 100 notes at $10 per note; the estimated initial value per note is $9.79.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The preliminary pricing supplement dated March 25, 2026 sets a approximately three‑year term maturing on March 27, 2029. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date meets or exceeds a coupon barrier; otherwise no coupon is paid. The Notes will be automatically called early (quarterly observations beginning after six months) if the closing level on an observation date is equal to or greater than the initial level, in which case holders receive principal plus any contingent coupon then due. If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is equal to or greater than the downside threshold; if the final level is below that threshold, holders suffer a loss equal to the underlying return and could lose all principal. Payments are subject to UBS credit risk. Trade and settlement dates are March 25, 2026 and March 27, 2026, respectively. The Notes are offered in minimum increments of 100 Notes at $10 per Note; estimated initial value is between $9.40 and $9.65.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Applied Materials, Inc.. The trade date is March 25, 2026, settlement March 27, 2026, final valuation date March 23, 2028, and maturity March 27, 2028. The Notes pay a contingent coupon only when the underlying's closing level on an observation date meets or exceeds the coupon barrier; otherwise no coupon is paid. The Notes are subject to an automatic call if the underlying equals or exceeds the initial level on an observation date prior to maturity. If not called, repayment at maturity is contingent: full principal is repaid only if the final level is at or above the downside threshold; if below, repayment declines in line with the underlying return and could result in a total loss. Minimum investment is 100 Notes at $10 per Note. The estimated initial value range is $9.43 to $9.68. All payments are subject to UBS credit risk.

UBS AG assumed Credit Suisse’s ETNs and renamed them ETRACS Gold Shares Covered Call ETNs (ticker GLDI). The ETNs link returns to the NASDAQ Gold (Formula-Linked OverWrite Strategy) 103 Index and mature February 2, 2033 unless extended. UBS designated its London Branch as issuer under the Senior Indenture and expressly assumed Credit Suisse’s obligations by supplemental indenture. The structure pays a variable monthly coupon derived from notional call premiums on SPDR® Gold Trust shares and charges a 0.65% annual Investor Fee. The Index’s notional transaction costs are approximately 0.84% annually. As of March 24, 2026, 1,000,000 ETNs were registered; additional ETNs may be issued at UBS’s discretion. The ETNs are senior unsecured obligations of UBS AG (London Branch) and carry issuer credit risk; investors can lose up to 100% of their investment.

UBS AG is offering Trigger In‑Digital Securities linked to the relevant nearby ICE‑traded Brent crude oil futures contract. The securities have a $10 per security issue price (minimum investment $1,000) and a digital return to be set on the trade date in the 11.00% to 14.80% range. Key dates in the excerpt: trade date March 27, 2026, settlement date March 31, 2026, final valuation date June 28, 2027, and maturity date June 30, 2027. The digital barrier (downside threshold) is 55.00% of the initial price. If the final price is at or above that barrier, payment at maturity equals $10 × (1 + Digital Return). If the final price is below the downside threshold, the payment equals $10 × (1 + Underlying Return) and could result in substantial loss, including loss of the entire investment; payments are subject to UBS credit risk. The estimated initial value range is stated as $9.473 to $9.773 per security; underwriting discount is $0.20 per security and proceeds to UBS are $9.80 per security.

UBS AG offers Capped Buffer Securities linked to the S&P 500® Index with a 10.00% buffer, a 22.60% maximum gain and a principal amount of $1,000 per Security. Expected trade date is April 17, 2026, settlement April 22, 2026, final valuation October 18, 2027 and maturity October 21, 2027.

At maturity, if the underlying return is positive you receive principal plus the lesser of the underlying return and the maximum gain (capped at a $1,226.00 payment). If the underlying return is negative but the final level is ≥ the downside threshold (90.00% of the initial level), you receive principal. If the final level is below the downside threshold, you incur losses beyond the 10.00% buffer and could lose most or all principal. Payments are subject to UBS credit risk. The issue price is $1,000 and estimated initial value was between $954.00 and $984.00 per Security.

UBS AG London Branch offers Digital S&P 500® Index-Linked medium-term notes with a buffer feature and a capped payout. The notes pay no interest and have a term expected to be between 15 and 17 months, with cash settlement linked to the S&P 500® Index performance from the trade date to the determination date.

If the final underlier level is equal to or above the buffer level (87.50% of the initial level), holders receive a maximum settlement amount (expected to be between $1,116.60 and $1,137.10 per $1,000 face amount). If the final underlier level is below the buffer level, losses apply at approximately 1.1429% of face amount per 1.00% negative underlier return below the buffer, and investors could lose their entire investment.

UBS AG is offering Trigger In‑Digital Securities linked to the least performing of the Russell 2000® and the S&P 500® due on or about October 21, 2027. Each Security has a $1,000 principal amount and a 18.50% digital return if the least performing underlying asset's final level is equal to or above its 80.00% digital barrier/downside threshold.

If the least performing underlying asset finishes below its 80.00% downside threshold, the payment at maturity will equal $1,000×(1 + least performing underlying return), which can result in a substantial loss or total loss of principal. Estimated initial value on the trade date is between $957.00 and $987.00. Trade, settlement and valuation dates are set in the preliminary terms.