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

UBS AG has published a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes have a trade date of March 23, 2026, an expected settlement date of March 25, 2026, a final valuation date of March 22, 2029 and a maturity date of March 26, 2029.

The Notes have a principal amount of $10 per Note, are available in minimum investments of 100 Notes ($1,000) and pay contingent coupons only if the underlying stock's closing level on observation dates meets or exceeds a coupon barrier; automatic quarterly calls begin after approximately six months if the underlying equals or exceeds the initial level. Example illustrative terms show a hypothetical contingent coupon of $0.379 per Note and an illustrative downside threshold at 50.00% of the initial level. The preliminary pricing supplement states an estimated initial value range of $9.37 to $9.62 per Note and emphasizes that investors may lose a significant portion or all of their investment and are exposed to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. The Notes have a $10 principal amount per Note, a minimum purchase of 100 Notes ($1,000), and an estimated initial value of $9.69 as of the trade date.

Key dates: Trade Date March 23, 2026, Settlement Date March 25, 2026, Final Valuation Date March 22, 2029, Maturity Date March 26, 2029. The Notes pay a contingent coupon only if the closing level of AMD is at or above the coupon barrier on an observation date. The Notes are automatically called early if the closing level on an observation date is at or above the initial level; if called, UBS pays principal plus any contingent coupon due. If not called and the final level is below the downside threshold, principal repayment at maturity is reduced proportionally to the underlying return (downside threshold shown as $60.00, or 60.00% of the initial level). The contingent coupon rate example is 19.17% per annum (contingent coupon example $0.4793 per $10 Note). All payments, including any principal repayment, are subject to UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Mattel, Inc. due on or about March 25, 2027. The trade date is March 23, 2026 with expected settlement on March 25, 2026.

The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates and are subject to automatic early call if the stock closes at or above the initial level on any observation date. The Notes have a minimum investment of 100 Notes at $10 per Note and an estimated initial value range of $9.44 to $9.69 as of the trade date. Principal repayment at maturity is contingent on the final level relative to a downside threshold; investors may lose a significant portion or all of their investment and are exposed to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. This is a preliminary pricing supplement dated March 23, 2026 describing notes that mature on or about March 26, 2029 with a principal amount of $10 per Note.

The Notes can pay periodic contingent coupons only if the underlying closing level meets a coupon barrier on observation dates and can 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: full principal is paid only if the final level is at or above a stated downside threshold; otherwise repayment falls in proportion to the underlying return, and investors could lose a substantial portion or all principal. The prospectus and product supplement govern final terms; estimated initial value is shown as $9.37–$9.62 and minimum investment is 100 Notes ($1,000).

UBS AG is issuing $8,020,000 of Capped Buffer GEARS linked to the S&P 500® Index maturing on March 18, 2027. Each $1,000 Security offers 1.50 upside gearing with a 10.00% buffer and a capped 11.25 maximum gain (maximum payment $1,112.50 per Security).

The Securities repay principal at maturity only if the final index level is at or above the March 15, 2027 final valuation downside threshold (90.00% of the initial level). If the final level is below that threshold, holders incur losses beyond the buffer and could lose almost all principal. Payments depend on UBS creditworthiness. The estimated initial value was $987.70 and the issue price was $1,000 per Security.

UBS AG is offering $5,540,790 of Step Down Trigger Autocallable Notes linked to the least performing of the S&P 500® Index and the EURO STOXX 50® Index. The Notes trade March 20, 2026 with expected settlement on March 25, 2026, a final valuation on March 20, 2031 and maturity on March 25, 2031.

The Notes have a minimum investment of 100 Notes at $10 per Note, an estimated initial value of $9.758, and a quoted call return rate of 10.20% per annum. They are automatically called if both indices meet call threshold levels on an observation date; otherwise repayment at maturity is contingent and can result in a loss equal to the percentage decline of the least performing underlying asset, including a possible total loss of principal. All payments are subject to UBS credit risk.

UBS AG is offering two separate series of Trigger Autocallable Contingent Yield Notes linked to the common stock of AbbVie Inc. and Air Products and Chemicals, Inc.. The offerings total $4,290,000 (AbbVie) and $1,122,000 (Air Products) with an issue price of $10.00 per Note and a contingent coupon rate of 9.00% per annum.

The notes are quarterly-observed, callable after six months, and mature on March 23, 2029. Key levels: AbbVie initial level $205.07 with downside threshold and coupon barrier $109.71 (53.50%); Air Products initial level $281.01 with downside threshold and coupon barrier $171.84 (61.15%). Estimated initial values per Note are $9.775 (AbbVie) and $9.755 (Air Products).

The notes pay contingent coupons only when observation-date closing levels meet or exceed coupon barriers; principal repayment at maturity is contingent on final level versus the downside threshold. 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 Robinhood Markets, Inc. common stock due on . Each $1,000 Note pays a 24.75% per annum contingent coupon when the underlying closing level meets or exceeds a $37.08 coupon barrier on observation dates and is callable by UBS monthly beginning after three months. At maturity, principal is returned only if the final level is at or above the $37.08 downside threshold (50.00% of the initial level); otherwise payment declines in proportion to the underlying return and investors may lose a large portion or all principal. Payments are unsecured obligations of UBS and depend on UBS creditworthiness. The issue price totals $578,000 (578 Notes at $1,000 each) and the estimated initial value per Note is $960.80, below the issue price.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the Nasdaq-100® Technology Sector. The offering covers $520,000 in principal at an issue price of $1,000 per Note with an estimated initial value of $975.60. The Notes pay a fixed contingent coupon at a rate of 11.15% per annum ($9.2917 per Note per observation date) only if each underlying asset meets its coupon barrier on an observation date. UBS may call the Notes monthly beginning after approximately nine months; if UBS does not call the Notes and the final level of any underlying asset is below its downside threshold (each set at 70.00% of the initial level), holders will suffer a loss equal to the percentage decline of the least performing underlying asset, potentially losing all principal. All payments are subject to UBS creditworthiness 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 Nasdaq-100, Russell 2000 and S&P 500 indices. Each Note has a $1,000 principal amount and a contingent coupon of 10.20% per annum ($8.50 per coupon date) payable only if all three indices meet their coupon barriers on an observation date. The Notes are callable by UBS in whole (not in part) on monthly observation dates beginning after 12 months; if called, holders receive principal plus any contingent coupon due on the related call settlement date. If not called, repayment at maturity depends on the final levels: full principal is paid only if each index is at or above its downside threshold; otherwise payment is reduced pro rata based on the percentage decline of the least performing underlying asset, and investors could lose a substantial portion or all of their investment. Trade date is March 20, 2026, settlement March 25, 2026, final valuation December 20, 2030, maturity December 26, 2030. The aggregate issue price shown is $649,000.

UBS AG is offering $11,669,000 of Trigger Callable Contingent Yield Notes due March 23, 2029. The Notes are unsecured obligations linked to the least performing of the Dow Jones Industrial Average, the Nasdaq-100 Technology Sector and the Russell 2000 Index. They pay a contingent coupon of 14.55% per annum only if each underlying asset is at or above its coupon barrier on an observation date; otherwise no coupon is paid. UBS may call the Notes in whole on any monthly observation date beginning after three months. At maturity the principal is repaid only if each underlying asset is at or above its downside threshold (70% of initial level); otherwise repayment equals $1,000 × (1 + underlying return of the least performing underlying asset), which can result in a substantial or total loss. The estimated initial value was $974.00 and the issue price is $1,000 per Note with proceeds to UBS of $11,610,655.

UBS AG offers $11,701,000 aggregate face amount of Capped Leveraged Buffered S&P 500® Index‑Linked Medium‑Term Notes due August 18, 2027, linked to the S&P 500® Index, with a trade date of March 19, 2026 and original issue date March 24, 2026.

The notes do not bear interest and pay a cash settlement at maturity based on the S&P 500 final level on the determination date August 16, 2027. Terms include a 160.00% upside participation rate, a cap level of 112.12% (maximum settlement amount $1,193.92 per $1,000 face), and an 87.50% buffer level (buffer rate ≈ 114.29%). If the final level is below the buffer, losses apply roughly 1.1429% of face per 1% drop below the buffer; you could lose your entire investment. The estimated initial value was $997.50 per $1,000 face amount as of the trade date.

UBS AG is offering Trigger Callable Contingent Yield Notes due on or about July 1, 2027.

The Notes pay a contingent coupon of 11.40% per annum only if each underlying (the S&P 500® and the Russell 2000®) closes at or above its coupon barrier on an observation date. UBS may call the Notes monthly beginning after six months; principal repayment at maturity is contingent on the final level of the least performing underlying relative to a 70.00% downside threshold. Estimated initial value per $1,000 Note is between $960.20 and $990.20; underwriting discount is up to $7.25 and proceeds to UBS are at least $992.75 per Note. The Notes are unsecured obligations of UBS and repayment depends on UBS creditworthiness.

UBS AG is offering $1,938,000 principal of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the Nasdaq-100 Index® and the S&P 500® Index. The Notes pay a 10.00% per annum contingent coupon when both indices meet coupon barriers on observation dates, are callable monthly beginning after six months, and mature on March 23, 2029. Each Note has a principal amount of $1,000, an estimated initial value of $991.10, and contingent repayment of principal at maturity that depends on the final performance of the least performing underlying index. Trade date is March 20, 2026 with expected settlement on March 25, 2026.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the S&P 500® Index due on or about December 30, 2027. The Notes pay a contingent coupon of 8.75% per annum on each coupon payment date only if the closing level of the S&P 500 is at or above a coupon barrier equal to 70.00% of the Initial Level. UBS may call the Notes monthly beginning after six months; if called you receive principal plus any contingent coupon then due. At maturity, if the final level is below a downside threshold of 70.00% of the Initial Level, principal repayment will be reduced proportionally to the decline in the underlying (you could lose a substantial portion or all of your investment). The estimated initial value on the trade date is between $960.00 and $990.00, the issue price is $1,000.00, and underwriting compensation is up to $7.25 per Note with per-Note proceeds to UBS of at least $992.75. Payments are subject to UBS creditworthiness and the Notes will not be listed on an exchange.

UBS AG is offering Enhanced Trigger Jump Securities with Auto-Callable Feature linked to the common stock of Western Digital Corporation, with an expected pricing date of March 23, 2026 and an expected original issue date of March 26, 2026.

The securities have a stated principal amount of $1,000.00 per security and an advertised maturity redemption payment of $1,788.00 (corresponding to approximately 39.40% per annum) if the final price is equal to or greater than 60% of the initial price. The securities will auto-redeem early if the underlying closing price on a determination date (other than the final determination date) is at least 100% of the initial price, in which case holders receive principal plus a premium that increases over successive determination dates. If the final price is below 60% of the initial price, holders receive a cash value equal to the exchange ratio times the final price and may lose a significant portion or all of their principal. All payments are subject to UBS AG credit risk.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000® Index, the S&P 500® Index and shares of the State Street® Technology Select Sector SPDR® ETF, due on or about April 4, 2031.

The Notes pay a periodic contingent coupon if each underlying asset is at or above a coupon barrier on monthly observation dates; the disclosed contingent coupon rate is 14.80% per annum (contingent coupon shown as $12.3333 in the preliminary terms). The Notes are callable by UBS on any observation date beginning after three months. At maturity the principal is repaid only if each underlying asset is at or above its downside threshold (specified as 55.00% of its initial level); otherwise repayment is reduced pro rata based on the least performing underlying asset. Trade and settlement are expected on April 1, 2026 and April 7, 2026, respectively, and the issuer’s estimated initial value range is $957.70 to $987.70.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Amazon.com, Inc. stock. The offering totals $325,000 in principal at an $1,000 per Note issue price and an estimated initial value of $979.20. The Notes pay a contingent coupon at a 13.20% per annum rate if the underlying meets the coupon barrier on monthly observation dates and are callable beginning after three months. The Initial Level was $205.37 (Trade Date: March 20, 2026), the call threshold is $205.37 (100.00%), and the downside threshold/coupon barrier is $143.76 (70.00%). Payments, including principal, are subject to UBS credit risk and the Notes may result in significant loss at maturity if the final level is below the downside threshold.

UBS AG is offering $1,269,000 of Airbag Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Sandisk Corporation. The Notes mature on September 22, 2027 (approximately 18 months) and pay a contingent coupon of 25.06% per annum when observation-date hurdles are met. The Initial Level is $709.71, the Call Threshold is $709.71 (100% of Initial Level) and the Downside Threshold and Coupon Barrier are $354.86 (50% of Initial Level). If not called and the final level is below the Downside Threshold, investors receive a share delivery amount of 2.8180 shares per Note (fractional shares paid in cash), which may be worth less than principal. The estimated initial value per Note is $967.60 versus an issue price of $1,000.00. All payments are subject to UBS credit risk.

UBS AG offers $4,815,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector and the Russell 2000® Index due March 23, 2029. The Notes pay a 12.10% per annum contingent coupon only if each underlying asset meets its coupon barrier on an 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 final level is at or above its 60% downside threshold; otherwise repayment equals $1,000 × (1 + underlying return of the least performing underlying asset), which can result in a loss up to 100%. The issue price is $1,000 per Note, estimated initial value $969.60, and the offering totals $4,815,000. All payments are subject to UBS credit risk and the Notes will not be listed on an exchange.

UBS AG is offering $295,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to CrowdStrike Holdings, Inc. common stock due March 25, 2027. The Notes pay a contingent coupon at a 20.60% per annum rate and are callable monthly beginning after three months if the underlying closes at or above the call threshold of $409.00 (the Initial Level). If not called, principal is repaid at maturity only if the final level is at or above the downside threshold of $286.30 (70.00% of the Initial Level); otherwise the principal repayment falls by the percentage decline in the underlying and you could lose all your investment. The issue price is $1,000 per Note, estimated initial value $977.10, trade date March 20, 2026, settlement March 25, 2026. All payments are subject to the creditworthiness of UBS.

UBS AG is offering $31,039,200 of Trigger Callable Contingent Yield Notes with Daily Coupon Observation linked to the least performing of the Russell 2000®, S&P 500® and EURO STOXX 50® indices. The Notes trade on March 19, 2026 with settlement March 23, 2026 and mature on June 22, 2029.

The Notes pay a quarterly contingent coupon (cover shows a per‑annum rate of 15.00% for the Russell 2000 component and per‑note contingent coupon of $0.375 at the stated rate), but a coupon for an observation period is payable only if each underlying's closing level is at or above its coupon barrier on every trading day in that period. UBS may call the Notes on observation end dates; if not called, principal repayment at maturity is contingent: if any underlying's final level is below its downside threshold you may suffer a loss equal to the negative return of the least performing underlying, potentially losing all principal. The issue price is $10.00 per Note and UBS reports an estimated initial value of $9.592 per Note.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of XLE, XLU and XLV. The Notes pay a contingent coupon of 9.10% per annum when each ETF's closing level meets its coupon barrier on an observation date. Terms: $1,000 per Note principal, monthly observation dates (callable by UBS after 6 months), final valuation date February 26, 2029, maturity March 1, 2029. If UBS does not call the Notes and the final level of any underlying asset is below its downside threshold (each set at 70.00% of initial level), repayment at maturity will be reduced and can result in substantial loss or total loss of principal tied to the least performing underlying asset. The estimated initial value on the trade date is $957.40 and the issue price is $1,000.00.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology common stock due March 24, 2027. The notes pay a quarterly contingent coupon only if the underlying closes at or above a coupon barrier on an observation date; they are automatically called if the underlying closes at or above the initial level on a quarterly observation (beginning after six months). 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, principal is reduced in proportion to the underlying return and investors could lose all principal. Trade date is March 20, 2026 with settlement March 24, 2026. Minimum investment is 100 Notes at $10 per Note (principal amount $10). The estimated initial value was $9.66. The pricing example shows a contingent coupon rate of 21.49% per annum (contingent coupon $0.5373 per $10 Note), a downside threshold and coupon barrier of $50.00 (50% of the initial level). All payments are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes mature on March 24, 2027 and may be automatically called quarterly beginning about six months after the trade date.

The Notes pay a contingent coupon only when the underlying closes at or above a coupon barrier on an observation date; otherwise no coupon is paid. At maturity, if not called, principal repayment depends on the final level versus a 50.00% downside threshold — investors can lose a significant portion or all of principal. The preliminary trade date and settlement dates are March 20, 2026 and March 24, 2026, respectively. Example indicative terms show a $10 principal per Note, an illustrative contingent coupon rate of 18.37% per annum, and an estimated initial value range of $9.36 to $9.61 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. stock due March 26, 2029. The Notes pay a contingent coupon on each coupon payment date only if the closing level of AMD is at or above a coupon barrier on the applicable observation date; otherwise no coupon is paid. The Notes are subject to an automatic call on any quarterly observation date (beginning after six months) if the closing level is at or above the initial level, in which case UBS pays principal plus any contingent coupon and the Notes terminate.

If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold (65.00% of the initial level in the examples), UBS will repay the $10 principal; if the final level is below the downside threshold, the repayment equals $10 × (1 + underlying return), potentially resulting in a substantial loss or total loss of principal. Trade and settlement dates are March 20, 2026 and March 24, 2026; final valuation and maturity dates are March 22, 2029 and March 26, 2029. The estimated initial value on the trade date is $9.69. Minimum investment is 100 Notes ($1,000). Any payments depend on UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. due on or about March 26, 2029. The notes pay a contingent coupon only when the underlying closes at or above a coupon barrier on observation dates (quarterly, beginning after six months) and are automatically called if the underlying closes at or above the initial level on any non‑final observation date.

The notes feature contingent repayment of principal at maturity: if the final level is at or above a downside threshold (example: 65.00% of the initial level), principal is repaid; if below, investors suffer a loss equal to the underlying return (examples show a $10 principal and a hypothetical contingent coupon rate of 20.55% per annum). Trade date is March 20, 2026, settlement March 24, 2026, final valuation March 22, 2029. Minimum investment is 100 Notes (representing $1,000). Estimated initial value range is $9.37 to $9.62 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of United Rentals, Inc., maturing March 24, 2028. The Notes have a $10 principal per Note, a minimum purchase of 100 Notes, and an estimated initial value of $9.69 as of the trade date.

The Notes pay periodic contingent coupons only if the underlying closing level on each observation date is at or above the coupon barrier. The Notes are automatically called early if the underlying closing level on any observation date prior to the final valuation date is at or above the initial level; an automatic call results in payment of principal plus any contingent coupon due.

If not called, principal repayment at maturity is contingent: if the final level is at or above the downside threshold (stated as 75.00% of the initial level), UBS will repay principal in cash; if the final level is below that threshold you will incur a loss equal to the percentage decline in the underlying, and could lose all of your investment. All payments are subject to UBS's creditworthiness and the Notes are not FDIC insured.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of United Rentals, Inc. with a trade date of March 20, 2026, expected settlement on March 24, 2026 and maturity on or about March 24, 2028. The notes pay 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 an observation date prior to maturity. Principal is repaid at maturity only if the final level is at or above a downside threshold; otherwise principal repayment is reduced proportionally to the underlying decline. Minimum investment is 100 notes at $1,000. The estimated initial value range on the trade date is between $9.37 and $9.62, and all payments are subject to UBS credit risk. The preliminary terms are subject to completion and final terms will be set on the trade date.

UBS AG is offering $1,220,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, due March 24, 2028. The Notes pay periodic contingent coupons only if the underlying closing level on an observation date equals or exceeds a coupon barrier; otherwise no coupon is paid. The Notes are autocallable if the underlying closing level on any observation date prior to the final valuation date equals or exceeds the initial level, in which case investors receive principal plus any contingent coupon on the related call settlement date and the Notes terminate. 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 the final level is below the downside threshold you receive $10 multiplied by (1 + underlying return), which can produce a substantial loss or a total loss of principal. The Notes are unsecured obligations of UBS and payments depend on UBS creditworthiness. Trade Date is March 20, 2026, settlement is March 24, 2026, final valuation date is March 22, 2028, and maturity is March 24, 2028. The estimated initial value as of the trade date is $9.82. Minimum purchase is 100 Notes at $10 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, due on or about March 24, 2028. The notes pay a periodic contingent coupon only if the underlying closes at or above a coupon barrier on observation dates and feature an automatic call if the underlying closes at or above the initial level on any observation date prior to maturity. If not called, principal repayment at maturity is contingent: full principal is repaid only if the final level is at or above a downside threshold; if the final level is below that threshold, repayment is reduced proportionately to the underlying return, potentially resulting in loss of principal. Trade date is March 20, 2026 with expected settlement on March 24, 2026. The offering is unsecured and subject to UBS credit risk; the estimated initial value range per $10 Note is $9.44–$9.69.

UBS AG offers $310,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Rivian Automotive, Inc., maturing on September 24, 2027. The Notes pay a contingent coupon only when the underlying closing level meets or exceeds a coupon barrier on observation dates and are subject to automatic quarterly calls beginning ~6 months after issuance.

If not called, principal repayment at maturity is contingent: full principal is returned only if the final level is at or above a downside threshold; otherwise, repayment falls by the underlying return and you could lose part or all of your investment. Payments are subject to the creditworthiness of UBS. Minimum investment is $1,000 and the estimated initial value was $9.61 per $10 Note as of the trade date.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. The Notes pay contingent coupons only if the underlying's 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 any observation date prior to final valuation.

The Notes mature on March 26, 2029 (final valuation March 22, 2029), have a minimum investment of 100 Notes at $10 per Note, an estimated initial value of $9.64 per Note, and expose investors to full principal loss if the final level is below the downside threshold. All payments are subject to UBS credit risk.

UBS AG proposes an offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Rivian Automotive, Inc., due on or about September 24, 2027. The Notes pay a contingent coupon on scheduled coupon dates only if the underlying's closing level is at or above a coupon barrier; otherwise no coupon is paid. The Notes feature an automatic call on quarterly observation dates (beginning ~6 months after trade) if the closing level is at or above the initial level, in which case holders receive principal plus any contingent coupon on the related call settlement date and the Notes terminate. If not called, principal repayment at maturity is contingent: if the final level is equal to or above a disclosed downside threshold, holders receive the $10 principal per Note; if below that threshold, repayment is reduced pro rata to the underlying return, potentially resulting in a complete loss. Trade date is March 20, 2026, settlement March 24, 2026. Minimum purchase is 100 Notes at $10 per Note (minimum $1,000); the issuer estimates an initial value range of $9.25 to $9.50 per Note. Any payments depend on UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes have a trade date of March 20, 2026, expected settlement on March 24, 2026, a final valuation date of March 22, 2029 and a maturity date of March 26, 2029. The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and will be automatically called early if the underlying closes at or above the initial level on an observation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if below, repayment is reduced proportionally to the underlying return and you could lose all principal. Minimum investment is 100 Notes (representing $1,000). UBS estimates the initial value range at $9.28 to $9.53 per Note as of the trade date. The offering materials emphasize credit risk of UBS and significant market risk tied to Micron.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® and the S&P 500®. The issue aggregates $2,577,000 at an issue price of $1,000 per Note and has a principal amount of $1,000 per Note. The Notes have a contingent coupon of 13.60% per annum and monthly observation dates; contingent coupons are payable 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 monthly observation dates beginning after three months; if called, holders receive principal plus any contingent coupon otherwise due. If not called, repayment at maturity on February 25, 2028 will be the principal amount only if the final level of each underlying asset is at or above its downside threshold (70.00% of initial levels); otherwise principal repayment will be reduced in proportion to the percentage decline of the least performing underlying asset, and investors could lose a substantial portion or all of their investment. The estimated initial value on the trade date was $986.80. All payments are subject to UBS credit risk.

UBS AG is offering Capped Leveraged Buffered S&P 500® Index-Linked medium-term notes with a face amount of $1,000 per note and a term expected to be between 24 and 27 months. The notes pay no interest and are unsecured obligations of UBS. The notes provide an upside participation rate of 170.00% subject to a cap level expected to be between 112.70% and 114.93% of the initial underlier level and a maximum settlement amount expected to be between $1,215.90 and $1,253.81 per $1,000 face amount. A buffer of 15.00% (buffer level = 85.00%) protects against declines up to that amount; declines beyond the buffer result in leveraged losses of approximately 117.65% of the shortfall. The estimated initial value is expected to be between $967.00 and $997.00 per $1,000 face amount, below the issue price. The notes are not listed, may have little or no secondary market, and holders bear UBS credit risk and tax uncertainties including potential Section 871(m) and FATCA effects.

UBS AG offers Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector (NDXT), the Russell 2000® Index (RTY) and shares of the State Street® Utilities Select Sector SPDR® ETF (XLU), due on or about April 4, 2030. The Notes pay a contingent coupon of 11.00% per annum only if each underlying asset meets its coupon barrier on an observation date; UBS may call the Notes monthly beginning after 12 months. At maturity, principal is repaid only if the final level of each underlying asset is equal to or greater than its 60.00% downside threshold; otherwise loss equals the percentage decline of the least performing underlying asset, potentially up to a total loss. The estimated initial value range is $947.80 to $977.80; issue price is $1,000.00 with underwriting compensation up to $9.50 per Note and proceeds to UBS of at least $990.50.

UBS AG is offering Digital S&P 500® Index-Linked medium-term notes (face amount $1,000 each) due August 20, 2027. The notes pay no interest; final cash payment depends on the S&P 500 closing level on the determination date (August 18, 2027) versus the initial level (6,624.70 on March 18, 2026). If the final level is ≥85.00% of the initial level, holders receive a capped $1,113.30 per $1,000 face amount. If below 85.00%, losses apply: holders lose ~1.1765% of face amount for each 1% drop below the buffer, with potential loss of the entire investment. Issue price was 100.00% with underwriting discount 1.23% and estimated initial value of $986.00 per $1,000 face amount based on UBS internal models.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the Nasdaq-100 Technology Sector. The Notes pay a contingent coupon only when each underlying asset meets its coupon barrier on an observation date and are callable monthly by UBS beginning about six months after issuance. The preliminary terms show a contingent coupon rate of 13.90% per annum (for the Dow Jones line) and downside thresholds equal to 60.00% of initial levels with coupon barriers at 75.00% of initial levels. If UBS does not call the Notes and the final level of any underlying asset is below its downside threshold, principal will be reduced proportionally to the decline of the least performing underlying asset; in extreme cases investors could lose all principal. Issue price per Note is $1,000.00 with proceeds to UBS of $995.00 per Note and an underwriting discount of $5.00 per Note. The estimated initial value range is $959.00 to $989.00 per Note according to UBS’ internal models.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, the Nasdaq-100 Technology Sector and the Russell 2000. The offering size is $380,000 with a $1,000 principal per Note. The Notes carry a contingent coupon of 12.80% per annum and are callable by UBS on monthly observation dates beginning after three months. Key dates: trade date March 19, 2026, settlement March 24, 2026, final valuation March 19, 2029, maturity March 22, 2029. Coupon barriers are set at 70.00% of initial levels and downside thresholds at 60.00% of initial levels for each index. If the issuer does not call the Notes and the final level of any underlying is below its downside threshold, repayment at maturity may be less than principal, potentially resulting in partial or total loss. The estimated initial value per Note is $986.60, below the issue price. All payments are subject to UBS credit risk.

UBS AG is offering $5,138,000 of 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 term of approximately 23 months, and are callable by UBS beginning after three months. Investors may receive a contingent coupon of 12.00% per annum on an observation date only if each underlying asset closes at or above its coupon barrier. If not called and any final underlying level is below its downside threshold (each set at 70.00% of the initial level), principal repayment at maturity will be reduced pro rata to the negative return of the least performing underlying asset, potentially resulting in substantial loss or total loss of principal. The estimated initial value was $970.60 and the issue price is $1,000.00 per Note. All payments are subject to UBS credit risk.

UBS AG is offering $500,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing common stock of Micron Technology, Inc. and NVIDIA Corporation, maturing on March 22, 2029. The notes pay a periodic contingent coupon of 28.00% per annum when both underlyings meet coupon barriers on an observation date and are callable monthly beginning after six months if both underlyings meet call thresholds.

If not called, principal is repaid in cash at maturity only if both final levels are at or above their downside thresholds (each 60.00% of initial level); otherwise holders receive the share delivery amount of the least performing underlying (2.1658 shares for Micron; 5.5432 shares for NVIDIA) or cash for any fractional share. The issue price is $1,000 per note, estimated initial value $940.30, and payments are subject to UBS credit risk. Investing may result in loss of a significant portion or all of principal.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Corning Incorporated common stock that mature on March 23, 2029. The Notes pay contingent coupons only if the underlying closing level on observation dates meets the coupon barrier and 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 is repaid at maturity only if the final level is at or above the downside threshold; if the final level is below the downside threshold, principal is reduced proportionally to the underlying return, potentially causing total loss. Trade date is March 19, 2026 and settlement is March 23, 2026. Minimum investment is 100 Notes at $10 per Note; the estimated initial value on the trade date is $9.72. All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Corning Incorporated, due March 23, 2029. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on each observation date and are subject to automatic early redemption if the stock closes at or above the initial level on any observation date prior to maturity. If not automatically 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. The Notes are unsecured obligations of UBS and any payment is subject to UBS creditworthiness. Example terms shown: $10 principal per Note, 25.38% per annum contingent coupon rate, contingent coupon $0.6345, coupon barrier and downside threshold $60.00 (60.00% of the initial level). Trade date is March 19, 2026 and settlement is expected March 23, 2026.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation due March 23, 2028. The Notes pay contingent coupons only if observation-date closing levels meet a coupon barrier, can be automatically called on quarterly observation dates after 12 months, and repay principal at maturity only if the final level is at or above the downside threshold.

The Notes have a $10 principal per Note example, an estimated initial value of $9.74 as of the trade date, and expose investors to full downside market risk of the underlying plus UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Corning Incorporated, with a trade date of March 19, 2026, expected settlement on March 23, 2026 and maturity on March 23, 2029. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates. The Notes are automatically called early if the underlying closes at or above the initial level on any quarterly observation date beginning after six months, in which case holders receive principal plus any contingent coupon due on the related coupon payment date. If not called, principal repayment at maturity is contingent: full principal is repaid only if the final level is at or above a downside threshold; if below that threshold repayment is reduced pro rata to the underlying return, potentially resulting in substantial loss or total loss of principal. The Notes are unsecured obligations of UBS and subject to UBS credit risk. Minimum investment is 100 Notes ($1,000). The preliminary estimated initial value per Note is between $9.34 and $9.59 as of the trade date. Hypothetical example shows a contingent coupon rate of 18.92% per annum and a downside threshold at 50.00% of the initial level.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Broadcom Inc. with final maturity on March 23, 2027. The notes pay periodic contingent coupons only if 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 prior observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold; a final level below that threshold exposes holders to the underlying’s negative return, potentially resulting in loss of a significant portion or all of principal. Trade and settlement dates are March 19, 2026 and March 23, 2026, respectively. Example terms shown: a hypothetical contingent coupon rate of 15.88% per annum, downside threshold and coupon barrier at $60.00 (60% of initial level), estimated initial value of $9.77 per $10 note, and a minimum investment of 100 notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company. The Notes pay a contingent coupon only if the underlying closing level on an observation date meets or exceeds a coupon barrier; otherwise no coupon is paid. The Notes may be automatically called quarterly (beginning ~12 months after the trade date) if the underlying closes at or above the initial level, in which case holders receive principal plus any contingent coupon on the related call settlement date. If not called, repayment at maturity on June 23, 2027 depends on the final level versus a downside threshold; if the final level is below that threshold, holders incur a loss equal to the underlying return and could lose all principal. Trade/settlement dates are March 19, 2026/March 23, 2026. Minimum investment is 100 Notes ($1,000). The estimated initial value is $9.67 per Note and an illustrative contingent coupon rate shown is 8.04% per annum. All payments are subject to UBS credit risk.