UBS Group (AMUB) details Q1 2026 capital strength and USD 37bn extra CET1 needs

Rhea-AI Filing Summary

UBS Group provides a detailed Pillar 3 update for 31 March 2026, highlighting strong capital and liquidity alongside rising regulatory demands. Common equity tier 1 (CET1) capital rose to USD 73.3bn, lifting the CET1 ratio to 14.65%, while risk‑weighted assets increased to USD 500.4bn.

Total loss‑absorbing capacity reached USD 197.6bn, supported by USD 3.7bn of new AT1 instruments and USD 9.0bn in TLAC‑eligible senior debt, partly offset by redemptions. UBS estimates future Swiss regulatory changes could require roughly USD 22bn of extra CET1 at UBS AG standalone and reduce Group CET1 by about USD 4bn, on top of around USD 15bn tied to the Credit Suisse acquisition.

Despite these headwinds, liquidity remains robust: the liquidity coverage ratio averaged 177.8% and the net stable funding ratio was 116.9%, both above FINMA requirements. UBS also returned capital, with shareholders approving a USD 1.10 per share dividend and the Group repurchasing USD 0.9bn of shares in the quarter as part of a planned USD 3bn buyback by July 2026.

Positive

• None.

Negative

• Forthcoming Swiss regulatory changes are expected to require approximately USD 22bn of additional CET1 at UBS AG standalone and derecognize about USD 4bn of CET1 at Group level, on top of roughly USD 15bn of capital needs linked to the Credit Suisse acquisition, implying around USD 37bn of incremental CET1 demand in total.

Insights

Bank capital & regulation analyst

UBS shows strong capital and liquidity but faces sizable extra Swiss capital needs.

UBS reports a solid 14.65% CET1 ratio on USD 73.3bn CET1 and USD 500.4bn RWA. Total loss‑absorbing capacity stands at USD 197.6bn, helped by new USD 3.7bn AT1 and USD 9.0bn senior TLAC‑eligible issuance, underscoring a robust loss‑absorbing stack.

However, Swiss reforms to capitalized software, prudential valuation and, especially, deductions for foreign subsidiaries are expected to require about USD 22bn of extra CET1 at UBS AG standalone and derecognize roughly USD 4bn of CET1 at Group level. Combined with around USD 15bn tied to the Credit Suisse acquisition, UBS estimates a total of roughly USD 37bn additional CET1 needs, a material tightening of its capital constraint.

Liquidity metrics remain comfortably above requirements, with an LCR of 177.8% and NSFR of 116.9% as of 31 March 2026. Meanwhile, UBS continues shareholder returns via a USD 1.10 per share dividend and a planned USD 3bn buyback by July 2026. The balance between meeting larger future capital requirements and sustaining capital returns will be a key theme in subsequent disclosures as Swiss legislative proposals progress.

Key Figures

CET1 capital: USD 73.3bn CET1 ratio: 14.65% Risk-weighted assets: USD 500.4bn +5 more

8 metrics

CET1 capital USD 73.3bn UBS Group consolidated as of 31 March 2026

CET1 ratio 14.65% UBS Group consolidated, risk-based capital ratio

Risk-weighted assets USD 500.4bn UBS Group consolidated as of 31 March 2026

Total loss-absorbing capacity USD 197.6bn TLAC available at Group resolution level, 31 March 2026

Planned additional CET1 demand USD 37bn Estimated total incremental CET1 from Swiss changes and Credit Suisse acquisition

Liquidity coverage ratio 177.8% Average UBS Group LCR in Q1 2026

Net stable funding ratio 116.9% UBS Group NSFR as of 31 March 2026

Share repurchases Q1 2026 USD 0.9bn UBS Group buybacks under 2026 program in first quarter

Key Terms

Pillar 3, total loss-absorbing capacity (TLAC), common equity tier 1 (CET1), risk-weighted assets (RWA), +2 more

6 terms

Pillar 3 regulatory

"This report provides Pillar 3 disclosures for the UBS Group and prudential key figures"

total loss-absorbing capacity (TLAC) regulatory

"The TLAC available as of 31 March 2026 included CET1 capital, AT1 capital and non-regulatory capital elements of TLAC."

common equity tier 1 (CET1) financial

"Our common equity tier 1 (CET1) capital increased by USD 2.1bn to USD 73.3bn"

Common equity tier 1 (CET1) is the core capital of a bank made up of ordinary shares and retained profits that can absorb losses without the bank needing to borrow or cut customer services. Investors watch CET1 as a safety cushion indicator: higher CET1 means a bank is better able to withstand bad losses and maintain payouts, while a falling CET1 can signal higher risk or the need for new capital.

risk-weighted assets (RWA) financial

"During the first quarter of 2026, RWA increased by USD 7.0bn to USD 500.4bn"

liquidity coverage ratio (LCR) financial

"The quarterly average liquidity coverage ratio of the UBS Group decreased 4.8 percentage points to 177.8%"

A liquidity coverage ratio measures whether a bank holds enough cash and easily sold, high-quality assets to cover its expected net cash outflows for 30 days under stress. Think of it as a household emergency fund that proves the bank could pay its bills for a month without selling illiquid items at fire-sale prices. Investors use it to gauge short-term resilience, regulatory compliance, and the likelihood of funding strain.

net stable funding ratio (NSFR) financial

"As of 31 March 2026, the net stable funding ratio of the UBS Group increased 0.9 percentage points to 116.9%"

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

Date: April 29, 2026

UBS Group AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

(Address of principal executive office)

Commission File Number: 1-36764

UBS AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

Aeschenvorstadt 1, 4051 Basel, Switzerland

(Address of principal executive offices)

Commission File Number: 1-15060

Indicate by check mark whether the registrants file or will file annual reports under cover of Form 20-F or Form

40-

F.

Form 20-F

☒

Form 40-F

☐

This Form 6-K consists of the 31 March 2026 Pillar 3 Report of UBS Group and significant regulated subsidiaries

and sub-groups, which appears immediately following this page.

Pillar 3 Report

31 March 2026

UBS Group and significant regulated subsidiaries

and sub-groups

Terms used in this report, unless the context requires otherwise

“UBS”, “UBS Group”, “UBS Group AG consolidated”, “Group”, “the Group”, “we”, “us” and “our”

UBS Group AG and its consolidated subsidiaries

“UBS AG” and “UBS AG consolidated”

UBS AG and its consolidated subsidiaries

“Credit Suisse Group” and “Credit Suisse”

Credit Suisse Group AG and its consolidated subsidiaries, before the

acquisition by UBS

“UBS Group AG” and “UBS Group AG standalone”

UBS Group AG on a standalone basis

“UBS AG standalone”

UBS AG on a standalone basis

“UBS Switzerland AG” and “UBS Switzerland AG standalone”

UBS Switzerland AG on a standalone basis

“UBS Europe SE” and “UBS Europe SE consolidated”

UBS Europe SE and its consolidated subsidiaries

“UBS Americas Holding LLC” and “UBS Americas Holding LLC consolidated”

UBS Americas Holding LLC and its consolidated subsidiaries

“1m”

One million, i.e. 1,000,000

“1bn”

One billion, i.e. 1,000,000,000

“1trn”

One trillion, i.e. 1,000,000,000,000

In this report, unless the context requires otherwise, references to any gender shall apply to all genders.

Table of contents

UBS Group

2

Section 1

Introduction and basis for preparation

4

Section 2

Key metrics

6

Section 3

Risk-weighted assets

12

Section 4

Going and gone concern requirements

and eligible capital

13

Section 5

Leverage ratio

15

Section 6

Liquidity and funding

Significant regulated subsidiaries and sub-groups

17

Section 1

Introduction

17

Section 2

UBS AG consolidated

20

Section 3

UBS AG standalone

23

Section 4

UBS Switzerland AG standalone

27

Section 5

UBS Europe SE consolidated

28

Section 6

UBS Americas Holding LLC consolidated

Appendix

30

Abbreviations frequently used in our financial reports

32

Cautionary statement

Contacts

Switchboards

For all general inquiries

ubs.com/contact

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Investor Relations

UBS’s Investor Relations team

manages relationships with

institutional investors, research

analysts and credit rating agencies.

ubs.com/investors

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New York +1-212-882-5734

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UBS’s Media Relations team

manages relationships with global

media and journalists.

ubs.com/media

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mediarelations@ubs.com

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mediarelations@ubs.com

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sh-mediarelations-ap@ubs.com

Office of the Group Company

Secretary

The Group Company Secretary

handles inquiries directed to the

Chairman or to other members

of the Board of Directors.

UBS Group AG, Office of the

Group Company Secretary

P.O. Box, CH-8098 Zurich,

Switzerland

sh-company-secretary@ubs.com

Zurich +41-44-235-6652

Shareholder Services

UBS’s Shareholder Services team,

a unit of the Group Company

Secretary’s office, manages

relationships with shareholders and

the registration of UBS Group AG

registered shares.

UBS Group AG, Shareholder Services

P.O. Box, CH-8098 Zurich,

Switzerland

sh-shareholder-services@ubs.com

Zurich +41-44-235-6652

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For global registered share-related

inquiries in the US.

Computershare Trust Company NA

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Shareholder online inquiries:

www.computershare.com/us/

investor-inquiries

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Imprint

Publisher: UBS Group AG, Zurich, Switzerland | ubs.com

Language: English

© UBS 2026. The key symbol and UBS are among the registered and

unregistered trademarks of UBS. All rights reserved.

31 March 2026 Pillar 3 Report |

UBS Group | Introduction and basis for preparation 2

UBS Group

Introduction and basis for preparation

Scope of Basel III Pillar 3 disclosures

The Basel Committee on Banking Supervision (the BCBS) final Basel III capital adequacy framework consists of three

complementary pillars. Pillar 1 provides a framework for measuring minimum capital requirements for the credit, market

and operational risks faced by banks. Pillar 2 addresses the principles of the supervisory review process, emphasizing the

need for a qualitative approach to supervising banks. Pillar 3 requires banks to publish a range of disclosures, mainly

covering risk, capital, leverage, liquidity and remuneration.

This report provides Pillar 3 disclosures for the UBS Group and prudential key figures and regulatory information for

UBS AG consolidated and standalone, UBS Switzerland AG standalone, UBS Europe SE consolidated and UBS Americas

Holding LLC consolidated in the respective sections under “Significant regulated subsidiaries and sub-groups”.

This Pillar

3 report has been prepared in accordance with the Swiss Financial Market Supervisory Authority (FINMA)

Ordinance on the Disclosure Obligations of Banks and Securities Firms (the DisO-FINMA), the corresponding explanatory

notes, and the underlying BCBS Basel framework disclosure requirements. The revised Capital Adequacy Ordinance (the

CAO) that incorporates the final Basel III standards into Swiss law, and the five new FINMA ordinances (including the

DisO-FINMA) that contain the implementing provisions for the revised CAO, entered into force on 1 January 2025. The

DisO-FINMA replaces FINMA Circular 2016/1 “Disclosure – banks” and incorporates in particular new and revised

disclosure tables on risks and capital requirements.

›

Refer to “Changes to Pillar 3 disclosure requirements” in the “Introduction and basis for preparation” section of the 31 March

2025 Pillar 3 Report, available under “Pillar 3 disclosures” at

ubs.com/investors

, for more information about new and revised

quarterly tables as a result of the implementation of the final Basel III standards in Switzerland

As UBS is a systemically relevant bank (an SRB) under Swiss banking law, UBS Group AG and UBS AG are required to

comply with regulations based on the final Basel III framework as applicable to Swiss SRBs on a consolidated basis,

whereas UBS Switzerland AG is exempt from consolidation.

Local regulators may also require the publication of Pillar 3 information at a subsidiary or sub-group level. Where

applicable, these local disclosures are provided under “Holding company and significant regulated subsidiaries and sub-

groups” at

ubs.com/investors

.

Significant regulatory developments, disclosure requirements and other changes

Banking regulation in Switzerland

In April 2026, the Swiss Federal Council published its final amendments to the CAO specifying the regulatory capital

treatment of selected assets. Under the amended ordinance, UBS’s capitalized software will be subject to an amortization

of a maximum of three years for regulatory capital purposes, irrespective of the actual economic useful life. In addition,

prudential valuation adjustments will be revised, resulting in higher capital deductions for assets and liabilities that are

subject to valuation uncertainty. The capital treatment of deferred tax assets arising from temporary differences remains

unchanged. The amendments to the CAO will become effective on 1 January 2027, except for the revised capital

treatment of capitalized software, which will apply from 1 January 2029.

Regarding additional tier 1 (AT1) capital instruments, the Swiss Federal Council has decided not to proceed with the

adjustments proposed in June 2025. The Swiss Federal Council also finalized measures that aim to enable FINMA and

other authorities to better assess the liquidity of banks in a stressed situation.

In addition, the Swiss Federal Council submitted to the Swiss Parliament its final proposal for amendments to the Banking

Act that govern the capital treatment of systemically important banks’ investments in foreign subsidiaries. This proposal

will now be deliberated by the Swiss Parliament. Under the proposal, investments in foreign subsidiaries would be fully

deducted from UBS AG’s standalone common equity tier 1 (CET1) capital. The amendments would be phased in over

seven years, with a 65% deduction requirement in the first year and increasing to 100% by 5-percentage-point

increments each year.

For UBS AG standalone, the amendments at the ordinance level related to capitalized software and prudential valuation

adjustments, once fully implemented, are expected to have a net CET1 capital impact of approximately USD 2bn. The

proposed full deduction of investments in foreign subsidiaries would require UBS AG standalone to hold additional CET1

capital of around USD 20bn. The total incremental CET1 capital would amount to around USD 22bn required at the

UBS AG standalone level. At the Group level, the amendments at ordinance level will lead to a derecognition of around

USD 4bn of net CET1 capital. These estimates have been calculated based on UBS Group AG’s consolidated balance

sheet as of 31 December 2025, assuming that all capital measures are adopted as currently proposed and using an

assumed CET1 capital ratio of 12.5% for UBS AG and 14.0% for UBS Group.

31 March 2026 Pillar 3 Report |

UBS Group | Introduction and basis for preparation 3

The incremental capital requirement of USD 22bn mentioned above would come on top of the USD 15bn of capital

required as a result of the Credit Suisse acquisition. This includes around USD 9bn in response to the abolition of

regulatory concessions that had been granted to Credit Suisse and around USD 6bn to meet the progressive requirements

due to the increased size and higher market share of the combined business. On this basis, UBS would be required to

hold around USD 37bn of additional CET1 capital in total.

The Swiss National Bank establishes the basis for the Extended Liquidity Facility

In February 2026, the Swiss National Bank (the SNB) introduced the Extended Liquidity Facility (the ELF). The ELF extends

the existing Emergency Liquidity Assistance (the ELA) to eligible banks domiciled in Switzerland and provides access to

liquidity support from the SNB through a streamlined process. Up to the bank-specific ELF limit, no application or formal

solvency confirmation is required for liquidity drawdowns. For amounts exceeding the ELF limit, banks must submit an

application and provide evidence of solvency and viability, supported by an opinion from FINMA. All drawdowns under

the ELF must be fully collateralized. After a pilot phase in 2026, the ELF is expected to become operational in early 2027.

For drawdowns up to the ELF limit, UBS expects the ELF to reduce the operational burden for accessing liquidity support

from the SNB.

Developments related to the implementation of the final Basel III standards

In March 2026, the Federal Reserve Board, the Federal Deposit Insurance Corporation (the FDIC) and the Office of the

Comptroller of the Currency (the OCC) issued proposals with an impact on capital requirements, including proposals to

implement the remaining elements of the final Basel III guidelines, a modified standardized approach and the recalibration

of the surcharge for global systemically important banks (G-SIBs). Under the first proposal, category I banks (US G-SIBs)

and category II banks would be subject to the expanded risk-based approach (the ERBA) for calculating risk-weighted

assets. The second proposal would introduce a revised standardized approach to risk-based capital for banks not subject

to the ERBA, including UBS Americas Holding LLC. In addition, UBS Americas Holding LLC would not be required to apply

an operational risk charge. The consultation does not propose a start date or phase-in period. The proposals are open

for comment until 18 June 2026. The impact on UBS will depend on the final regulations and future business

development.

Also in the first quarter of 2026, the European Commission launched a consultation on the competitiveness of the EU

banking sector and the complexity and effectiveness of the EU prudential and macroprudential framework, and the UK

Prudential Regulation Authority (the PRA) published its final policy statements on the implementation of the Basel 3.1

standards. The implementation of these remains set for 1 January 2027, with full phase-in by 1 January 2030, except for

the implementation of the internal model approach for market risk in accordance with the Fundamental Review of the

Trading Book (the FRTB) framework, which has been postponed to 1 January 2028.

Other developments

Credit Suisse International standalone

In agreement with FINMA, starting with the 31 March 2026 Pillar 3 Report, we have discontinued the quarterly disclosure

of prudential key figures and regulatory information for Credit Suisse International standalone.

Capital returns

On 15 April 2026, the shareholders approved a dividend of USD 1.10 per share at the Annual General Meeting. The

dividend was paid on 23 April 2026 to shareholders of record on 22 April 2026.

In the first quarter of 2026, we repurchased USD 0.9bn of shares and we are on track to repurchase USD 3bn of shares

by the end of July 2026, with an aim to do more by year-end 2026. The amount of additional repurchases is subject to

our financial performance and outlook, maintaining a CET1 capital ratio of around 14% at year-end, and visibility on

parliamentary deliberations on the treatment of foreign subsidiaries.

Frequency and comparability of Pillar 3 disclosures

The DisO-FINMA specifies the reporting frequency for each disclosure. In line with these FINMA-specified disclosure

requirements, including with regard to comparative periods, we provide quantitative comparative information as of

31 December 2025 for disclosures required on a quarterly basis. Where specifically required by FINMA and / or the BCBS,

we disclose comparative information for additional reporting dates.

›

Refer to the 31 December 2025 Pillar 3 Report, available under “Pillar 3 disclosures” at

ubs.com/investors

, for more information

about previously published quarterly movement commentary

›

Refer to the 31 March 2025 Pillar 3 Report, available under “Pillar 3 disclosures” at

ubs.com/investors

, for more information about

quarterly tables currently not applicable to UBS

31 March 2026 Pillar 3 Report |

UBS Group | Key metrics 4

Key metrics

Key metrics for the first quarter of 2026

The KM1 and KM2 tables below are based on the Swiss Financial Market Supervisory Authority (FINMA) Ordinance on

the Disclosure Obligations of Banks and Securities Firms (DisO-FINMA) rules. The KM2 table includes a reference to the

total loss-absorbing capacity (TLAC) term sheet, published by the Financial Stability Board (the FSB). The FSB provides this

term sheet at

fsb.org/2015/11/total-loss-absorbing-capacity-tlac-principles-and-term-sheet

.

Our capital ratio increased, reflecting an increase in our tier 1 capital, partly offset by an increase in risk-weighted assets

(RWA). Our leverage ratio increased, driven by an increase in our tier 1 capital, partly offset by an increase in the leverage

ratio denominator (the LRD).

Our common equity tier 1 (CET1) capital increased by USD 2.1bn to USD 73.3bn, mainly driven by operating profit before

tax of USD 3.8bn, partly offset by dividend accruals of USD 0.9bn, current tax expenses of USD 0.5bn and negative

foreign currency translation effects of USD 0.2bn. Share repurchases of USD 0.9bn made under our new, 2026 share

repurchase program in the first quarter of 2026 did not affect our CET1 capital position, as there was an identical

reduction in the capital reserve for expected future share repurchases.

Our tier 1 capital increased by USD 5.8bn to USD 97.0bn, reflecting the aforementioned USD 2.1bn increase in CET1

capital and a USD 3.7bn increase in additional tier 1 (AT1) capital. The increase in AT1 capital predominantly reflected the

issuance of new AT1 capital instruments equivalent to USD 3.7bn.

The TLAC available as of 31 March 2026 included CET1 capital, AT1 capital and non-regulatory capital elements of TLAC.

Our available TLAC increased by USD 10.2bn to USD 197.6bn, reflecting the aforementioned increase in tier 1 capital

and a USD 4.5bn increase in non-regulatory capital elements of TLAC. The increase in non-regulatory capital elements of

TLAC was mainly driven by new issuances totaling USD 9.0bn equivalent of TLAC-eligible senior unsecured debt

instruments, partly offset by the redemption of TLAC-eligible senior unsecured debt instruments for the equivalent of

USD 3.3bn and negative impacts from interest rate risk hedge, foreign currency translation and other effects.

During the first quarter of 2026, RWA increased by USD 7.0bn to USD 500.4bn, driven by a USD 7.8bn increase resulting

from asset size and other movements and a USD 1.0bn increase driven by model updates and methodology changes,

partly offset by a USD 1.9bn decrease from currency effects.

The LRD increased by USD 31.0bn to USD 1,653.5bn, driven by a USD 40.6bn increase from asset size and other

movements, partly offset by a USD 9.5bn decrease from currency effects.

The quarterly average liquidity coverage ratio of the UBS Group decreased 4.8 percentage points to 177.8%, remaining

above the prudential requirement communicated by FINMA. Average net cash outflows increased by USD 6.2bn to

USD 187.9bn, primarily reflecting higher net outflows from deposits. The effect of the increase in net cash outflows was

partly offset by a USD 2.4bn increase in average high-quality liquid assets (HQLA),

mainly reflecting

higher cash available

due to an increase in customer deposits, higher proceeds from debt issued at amortized cost and higher net brokerage

payables, partly offset by lower cash available from higher lending assets and cash collateral margin requirements, as well

as a decrease in HQLA from securities financing transactions.

As of 31 March 2026, the net stable funding ratio of the UBS Group increased 0.9 percentage points to 116.9%,

remaining above the prudential requirement communicated by FINMA. Available stable funding increased by USD 14.6bn

to USD 896.6bn, mainly driven by increases in debt issued measured at amortized cost and regulatory capital. Required

stable funding increased by USD 7.0bn to USD 766.8bn, mainly reflecting higher derivatives and cash collateral

receivables on derivative instruments, and higher lending assets, partly offset by lower trading assets.

31 March 2026 Pillar 3 Report |

UBS Group | Key metrics 5

KM1: Key metrics

USD m, except where indicated

31.3.26

31.12.25

30.9.25

30.6.25

31.3.25

Available capital (amounts)

1

Common Equity Tier 1 (CET1)

73,313

71,262

74,655

72,709

69,152

2

Tier 1

96,963

91,176

94,950

91,721

87,837

3

Total capital

96,973

91,201

94,950

91,721

87,837

Risk-weighted assets (amounts)

4

Total risk-weighted assets (RWA)

500,355

493,397

504,897

504,500

483,276

4a

Total risk-weighted assets (pre-floor)

500,355

493,397

504,897

504,500

483,276

4b

Minimum capital requirement

1

40,028

39,472

40,392

40,360

38,662

Risk-based capital ratios as a percentage of RWA

5

Common equity tier 1 ratio (%)

14.65

14.44

14.79

14.41

14.31

5b

Common equity tier 1 ratio (%) (pre-floor)

14.65

14.44

14.79

14.41

14.31

6

Tier 1 ratio (%)

19.38

18.48

18.81

18.18

18.18

6b

Tier 1 ratio (%) (pre-floor)

19.38

18.48

18.81

18.18

18.18

7

Total capital ratio (%)

19.38

18.48

18.81

18.18

18.18

7b

Total capital ratio (%) (pre-floor)

19.38

18.48

18.81

18.18

18.18

Additional CET1 buffer requirements as a percentage of RWA

8

Capital conservation buffer requirement (%)

2.50

2.50

2.50

2.50

2.50

9

Countercyclical buffer requirement (%)

0.11

0.11

0.12

0.13

0.13

9a

Additional countercyclical buffer for Swiss mortgage loans (%)

0.33

0.38

0.32

0.33

0.31

10

Bank G-SIB and / or D-SIB additional requirements (%)

1.50

1.50

1.50

1.50

1.50

11

Total of bank CET1 specific buffer requirements (%)

2

4.11

4.11

4.12

4.13

4.13

12

CET1 available after meeting the bank’s minimum capital requirements (%)

3

10.15

9.94

10.29

9.91

9.81

Basel III leverage ratio

13

Total Basel III leverage ratio exposure measure

1,653,460

1,622,438

1,640,464

1,658,089

1,561,583

14

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves)

4

5.86

5.62

5.79

5.53

5.62

14b

Basel III leverage ratio (%) (excluding the impact of any applicable

temporary exemption of central bank reserves)

5.86

5.62

5.79

5.53

5.62

14c

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves) incorporating mean values for SFT

assets

4

5.86

5.58

5.77

5.54

5.60

14d

Basel III leverage ratio (%) (excluding the impact of any applicable

temporary exemption of central bank reserves) incorporating mean values for

SFT assets

5.86

5.58

5.77

5.54

5.60

14e

Minimum capital requirements

5

49,604

48,673

49,214

49,743

46,848

Liquidity coverage ratio (LCR)

6

15

Total high-quality liquid assets (HQLA)

333,963

331,568

346,550

358,759

318,735

16

Total net cash outflow

187,869

181,693

190,359

196,846

176,190

16a

of which: cash outflows

417,159

390,134

388,343

385,105

362,013

16b

of which: cash inflows

229,290

208,441

197,984

188,259

185,823

17

LCR (%)

177.83

182.64

182.12

182.31

180.96

Net stable funding ratio (NSFR)

18

Total available stable funding

896,644

882,039

898,762

904,703

861,717

19

Total required stable funding

766,795

759,829

750,960

738,891

693,777

20

NSFR (%)

116.93

116.08

119.68

122.44

124.21

1 Calculated as 8% of total RWA, based on total capital minimum requirements, excluding CET1 buffer requirements. 2 Excludes non-BCBS capital buffer requirements for risk-weighted positions that are directly

or indirectly backed by residential properties in Switzerland. 3 Represents the CET1 ratio that is available to meet buffer requirements. Calculated as the CET1 ratio minus the BCBS CET1 capital requirement and,

where applicable, minus the BCBS tier 2 capital requirement met with CET1 capital. 4 There is currently no temporary exemption of central bank reserves for UBS. 5 The higher of capital requirements based on

8% of RWA or 3% of LRD. 6 Calculated after the application of haircuts and inflow and outflow rates, as well as, where applicable, caps on Level 2 assets and cash inflows. Calculated based on an average of

62 data points in the first quarter of 2026 and 64 data points in the fourth quarter of 2025. For the prior-quarter data points, refer to the respective Pillar 3 Report, available under “Pillar 3 disclosures” at

ubs.com/investors, for more information.

KM2: Key metrics – TLAC requirements (at resolution group level)

1

USD m, except where indicated

31.3.26

31.12.25

30.9.25

30.6.25

31.3.25

1

Total loss-absorbing capacity (TLAC) available

197,556

187,307

199,329

191,171

187,168

2

Total RWA at the level of the resolution group

500,355

493,397

504,897

504,500

483,276

3

TLAC as a percentage of RWA (%)

39.48

37.96

39.48

37.89

38.73

4

Leverage ratio exposure measure at the level of the resolution group

1,653,460

1,622,438

1,640,464

1,658,089

1,561,583

5

TLAC as a percentage of leverage ratio exposure measure (%)

11.95

11.54

12.15

11.53

11.99

6a

Does the subordination exemption in the antepenultimate paragraph of Section

11 of the FSB TLAC Term Sheet apply?

No

6b

Does the subordination exemption in the penultimate paragraph of Section 11

of the FSB TLAC Term Sheet apply?

No

6c

If the capped subordination exemption applies, the amount of funding issued

that ranks pari passu with excluded liabilities and that is recognized as external

TLAC, divided by funding issued that ranks pari passu with excluded liabilities

and that would be recognized as external TLAC if no cap was applied (%)

N/A – Refer to our response to 6b.

1 Resolution group level is defined as the UBS Group AG consolidated level.

31 March 2026 Pillar 3 Report |

UBS Group | Risk-weighted assets 6

Risk-weighted assets

Overview of risk-weighted assets and capital requirements

The OV1 table below provides an overview of our risk-weighted assets (RWA) and the related minimum capital

requirements by risk type. The table presented is based on the respective Swiss Financial Market Supervisory Authority

(FINMA) template and empty rows indicate current non-applicability to UBS.

During the first quarter of 2026, RWA increased by USD 7.0bn to USD 500.4bn, driven by a USD 7.8bn increase resulting

from asset size and other movements and a USD 1.0bn increase driven by model updates and methodology changes,

partly offset by a USD 1.9bn decrease from currency effects.

Credit and counterparty credit risk

Credit and counterparty credit risk RWA include settlement risk, credit valuation adjustments, equity and investments in

funds exposures in the banking book, and securitization exposures in the banking book but exclude non-counterparty-

related risk. Credit and counterparty credit risk RWA increased by USD 5.7bn to USD 305.7bn as of 31 March 2026,

driven by a USD 6.5bn increase resulting from asset size and other movements and a USD 1.0bn increase due to model

updates and methodology changes, partly offset by a USD 1.8bn decrease from currency effects.

Asset size and other movements by business division and Group Items

–

Investment Bank RWA increased by USD 5.1bn, mainly due to increases in loans and loan commitments, market-driven

movements and higher levels of client activity in derivatives, and increased allocation of high-quality liquid assets.

–

Global Wealth Management RWA increased by USD 1.9bn, primarily driven by increases in loans and loan

commitments, and higher levels of client activity and market-driven movements in derivatives.

–

Personal & Corporate Banking RWA increased by USD 0.5bn, mainly due to higher RWA on derivatives, partly offset

by the sale of our 50% interest in Swisscard AECS GmbH.

–

Group Items RWA increased by USD 0.1bn.

–

Non-core and Legacy RWA decreased by USD 0.7bn, primarily driven by our actions to actively unwind the portfolio,

in addition to the natural roll-off.

–

Asset Management RWA decreased by USD 0.3bn.

Model updates and methodology changes resulted in an RWA increase of USD 1.0bn, mainly reflecting higher RWA from

model harmonization of Swiss corporate exposures in Personal & Corporate Banking and updates to the methodology

for residual risk on legacy synthetic securitizations in the Investment Bank. This was partly offset by decreases in RWA on

recourse-based lending in Global Wealth Management and commodity trade finance facilities in Personal & Corporate

Banking.

Market risk

Market risk RWA increased by USD 0.8bn to USD 24.5bn in the first quarter of 2026, due to asset size and other

movements in the Investment Bank’s Global Markets business.

Operational risk

Operational risk RWA were unchanged at USD 135.4bn.

The flow tables for credit risk, counterparty credit risk (CCR) and credit valuation adjustment (CVA) RWA below provide

further details regarding the movements in RWA in the first quarter of 2026.

›

Refer to the “Introduction and basis for preparation” section of this report for more information about the regulatory standards

applied

›

Refer to the “Capital management” section of the UBS Group first quarter 2026 report, available under

“Quarterly reporting” at

ubs.com/investors

, for more information about capital management and RWA, including details regarding movements in RWA

during the first quarter of 2026

31 March 2026 Pillar 3 Report |

UBS Group | Risk-weighted assets 7

OV1: Overview of RWA

Minimum

capital

requirements

1

USD m, except where indicated

31.3.26

31.12.25

31.3.26

1

Credit risk (excluding counterparty credit risk)

259,534

257,192

20,763

2

of which: standardized approach (SA)

62,382

61,983

4,991

2a

of which: non-counterparty-related risk

2

16,222

16,144

1,298

3

of which: foundation internal ratings-based (F-IRB) approach

40,148

40,713

3,212

4

of which: supervisory slotting approach

1,360

1,417

109

5

of which: advanced internal ratings-based (A-IRB) approach

155,645

153,078

12,452

5a

of which: adjustments related to the Swiss sectoral real estate floor for exposures secured by real estate in Switzerland

3

6

Counterparty credit risk

4

35,410

33,037

2,833

7

of which: SA for counterparty credit risk (SA-CCR)

7,400

6,668

592

8

of which: internal model method (IMM)

16,152

14,623

1,292

8a

of which: value-at-risk (VaR)

7,420

6,798

594

9

of which: other CCR

4,439

4,948

355

10

Credit valuation adjustment (CVA)

10,192

8,874

815

10a

of which: full basic approach (BA-CVA)

4,898

4,274

392

10b

of which: standardized approach (SA-CVA)

5,294

4,600

423

11

Equity positions under the simple risk weight approach during the five-year transitional period

12

Equity investments in funds – look-through approach

1,482

1,797

119

13

Equity investments in funds – mandate-based approach

1,276

1,046

102

14

Equity investments in funds – fallback approach

691

781

55

15

Settlement risk

223

156

18

16

Securitization exposures in banking book

4,548

4,801

364

17

of which: securitization internal ratings-based approach (SEC-IRBA)

1,143

1,302

91

18

of which: securitization external ratings-based approach (SEC-ERBA), including internal assessment approach (IAA)

807

835

65

19

of which: securitization standardized approach (SEC-SA)

2,598

2,664

208

20

Market risk

24,549

23,756

1,964

21

of which: standardized approach (SA)

24,549

23,756

1,964

22

of which: internal models approach (IMA)

23

Capital charge for switch between trading book and banking book

24

Operational risk

135,425

135,425

10,834

25

Amounts below thresholds for deduction (250% risk weight)

5

27,025

26,534

2,162

25a

of which: deferred tax assets

18,500

18,128

1,480

26

Output floor applied (%)

6

65

60

27

Floor adjustment (before application of transitional cap)

7

28

Floor adjustment (after application of transitional cap)

8

29

Total

500,355

493,397

40,028

1 Calculated based on 8% of RWA. 2 Non-counterparty-related risk includes property, equipment, software and other items. 3 The Swiss sectoral real estate floor is not applicable at the level of UBS Group AG

consolidated. 4 Excludes settlement risk, which is separately reported in line 15 “Settlement risk”. Includes RWA with central counterparties. The split between the sub-components of counterparty credit risk refers

to the calculation of the exposure measure. 5 Includes items subject to threshold deduction treatment that do not exceed their respective threshold and are risk weighted at 250%. Items subject to threshold

deduction treatment include significant investments in common shares of non-consolidated financial institutions (banking, insurance and financial entities) and deferred tax assets arising from temporary differences.

6 The overall output floor of 72.5% is subject to a phase-in until 1 January 2028. As of 1 January 2026, the applicable overall output floor at the level of UBS Group AG consolidated increased to 65% and will

increase to 70% in 2027. 7 FINMA has not opted to implement a transitional cap that would limit the increase in RWA to 25% of a bank’s RWA before the application of the output floor. 8 The total of our actual

final Basel III RWA is higher than 65% of our final Basel III RWA calculated using the full standardized approach. Therefore, the overall output floor is not binding, and our RWA before and after the effects of the

overall output floor are equal.

Comparison of modelled and standardized RWA at risk level

The CMS1 table compares RWA determined using models approved by FINMA with RWA determined under the full

standardized approach. The table also provides the full standardized approach for RWA that are the base of the phased-

in overall output floor. The purpose of the overall output floor is to ensure that banks’ capital requirements based on

modelled approaches where permitted do not fall below a certain percentage of capital requirements based on the full

standardized approach, thereby reducing excessive variability of RWA and enhancing the comparability of risk-based

capital ratios across banks. The impact of the output floor, if applicable, will be disclosed in the “OV1: Overview of RWA”

table in rows 27 and 28. The applicable threshold pursuant to the reporting date is disclosed in row 26 of the OV1 table,

and in column e in the CMS1 table below. As of 1 January 2026, the output floor increased to 65% from 60% and will

incrementally increase to a level of 72.5% by 2028. As of 31 March 2026, the floor is not binding at the level of UBS

Group, i.e. the total of our actual RWA shown in column c in the CMS1 table below is greater than 65% of the RWA

calculated under the full standardized approach shown in column e, and therefore no adjustment is required. UBS is

undertaking mitigating actions with respect to RWA under the standardized approach to minimize a future floor

adjustment required as the level of the output floor increases.

›

Refer to “Overview of risk-weighted assets and capital requirements” in this section for information about the OV1 table

The table below provides a summary of the key conceptual differences between the internal model approach and the

standardized approach.

31 March 2026 Pillar 3 Report |

UBS Group | Risk-weighted assets 8

Key differences between the internal model approach and the standardized approach

Internal model approach

Standardized approach

Key impact

Risk weighting

Reliance on internal ratings where each

counterparty / transaction receives a rating.

Reliance on external credit assessment institutions

where permitted in the regulatory framework.

Modelled approach produces RWA that is more risk

sensitive.

Granular risk-sensitive risk weight differentiation

via individual probability of default (PD) and loss

given default (LGD) for mortgages.

Less granular risk weights based on loan-to-value

(LTV) bands for mortgages.

The Group’s residential mortgage portfolio is

focused on the Swiss market, and the Group has

robust review processes in place concerning

borrowers’ ability to repay. This results in the

Group’s residential mortgage portfolio having a low

average LTV and results in an average risk weight

of around 20% under the advanced internal

ratings-based (A-IRB) approach.

Modelled LGD captures transaction quality

features including collateralization. Under the

foundation internal ratings-based (F-IRB)

approach, the LGD values are calculated based

on the rules set by FINMA.

No differentiation for transaction features (except

where a claim is subordinated).

Impact relevant across all asset classes.

Credit risk mitigation

Credit risk mitigation recognized via risk-sensitive

LGD or exposure at default (EAD).

Limited recognition of credit risk mitigation.

Standardized approach RWA is higher than

modelled RWA for most transaction types.

Wider variety of eligible collateral.

Restricted list of eligible collateral.

Limited recognition of collateral results in higher

RWA for Lombard lending and securities financing

transactions (SFTs).

Repo value-at-risk (VaR) permits the use of VaR

models to estimate exposure and collateral for

SFTs. Approach permits full diversification and

netting across all collateral types.

Conservative and crude regulatory haircuts with

limited risk-sensitivity.

The effects of guarantees and credit derivatives

are considered through either adjusting PD

and / or LGD estimates. UBS applies the F-IRB

approach for guarantee recognition.

In case of eligible guarantees and credit derivatives,

substitution is applied and the risk weight

applicable to the protection provider can be

assigned to the protected portion of the underlying

exposure.

CCF

A credit conversion factor (CCF) is applied to

model expected future drawdowns over the 12-

month period, irrespective of the actual maturity

of a particular transaction. The CCF includes

downturn adjustments and is the result of

analysis of internal data and expert opinion.

Credit exposure equivalents are determined by

applying CCFs to off-balance sheet items. The CCFs

vary based on product type, maturity and the

underlying contractual agreements.

Modelled CCFs can be more tailored and

differentiated.

EAD for derivatives

Internal model method (IMM) facilitates the use

of a Monte Carlo simulation to estimate

exposure.

The standardized approach for CCR (SA-CCR) is

calculated as the replacement costs plus regulatory

add-ons that take into account potential future

market moves at predetermined fixed rates.

For large, diversified derivatives portfolios,

standardized EAD is higher than modelled EAD.

Application of multiplier on IMM exposure

estimate.

Differentiates add-ons by five exposure types and

three maturity buckets only.

Variability in holding period applied to

collateralized transactions, reflecting liquidity

risks.

Limited netting can be recognized.

EAD for SFTs

The repo VaR approach is a model based on a

Monte Carlo simulation and historical calibration

to estimate exposure, computed as quantile

exposure.

The comprehensive approach considers the adjusted

exposure after applicable supervisory haircuts on

both the exposure and the collateral received to

take account of possible future fluctuations in the

value of either the exposure or the collateral.

For large, diversified SFT portfolios, standardized

EAD is higher than modelled EAD.

Maturity in risk weight

Regulatory RWA function considers maturity: the

longer the maturity, the higher the risk weight.

No differentiation for maturity of transactions,

except for interbank exposures.

Model approach produces lower RWA for high-

quality, short-term transactions.

Credit valuation

adjustment

Not applicable under the final Basel III standards.

UBS calculates the CVA risk capital requirement

using both the standardized approach (SA-CVA)

and the full basic approach (BA-CVA) in line with

the final Basel III standards. The SA-CVA uses

sensitivities to market risk factors (e.g. interest rates

and credit spreads) and uses those sensitivities with

regulatory-prescribed risk weights and correlations

to arrive at a capital charge. The BA-CVA approach

is simpler and less risk sensitive.

Where the BA-CVA and the SA-CVA are applied

under the output floor calculation, the application

of internal ratings is not permitted.

Securitization exposures

in the banking book

The regulatory capital requirements are

calculated using a hierarchy of approaches. First,

the securitization internal ratings-based approach

(SEC-IRBA) is applied, if possible. If this approach

cannot be applied, one of the standardized

approaches is applied.

If the SEC-IRBA cannot be applied, the regulatory

capital requirements are calculated using the

following hierarchy of approaches: the securitization

external ratings-based approach or the

securitization standardized approach (SEC-SA).

Otherwise, a 1,250% risk weight is applied as a

fallback.

31 March 2026 Pillar 3 Report |

UBS Group | Risk-weighted assets 9

Key differences between the internal model approach and the standardized approach (continued)

Internal model approach

Standardized approach

Key impact

Market risk

UBS does not apply the internal model approach

for market risk.

UBS currently applies the standardized approach of

the Fundamental Review of the Trading Book (the

FRTB) framework, in which minimum market risk

capital requirements are computed on the basis of

three components: the sensitivities-based method

(the SBM), the default risk charge (the DRC) and

the residual risk add-on (the RRAO). The SBM

captures delta, vega and curvature risk of the

underlying trading positions, the DRC uses the

jump-to-default risk in positions subject to equity

and credit risk, and positions that may not be

adequately capitalized by the SBM and the DRC

additionally attract an RRAO charge.

Where the standardized approach is applied under

the output floor calculation, the application of

internal ratings is not permitted.

The new FRTB framework replaced the VaR - and

stressed VaR-based Basel 2.5 market risk

framework.

Operational risk

Not applicable under the final Basel III standards.

The standardized approach is based on the business

indicator component, derived from financial

statement metrics, as well as the internal loss

multiplier, derived from average historical

operational losses. The new framework replaced the

advanced measurement approach.

As of 31 March 2026, the output floor is set at USD 476.7bn, representing 65% of RWA calculated using the full

standardized approach. This floor is USD 23.6bn below the actual RWA of USD 500.4bn.

During the first quarter of 2026, the difference between RWA calculated using the full standardized approach and actual

RWA increased by USD 3.7bn, to USD 233.1bn from USD 229.3bn. This increase was primarily driven by changes in asset

size and other movements, partially offset by RWA mitigation actions undertaken during the quarter and foreign

exchange movements.

Credit risk RWA under the full standardized approach were higher than actual RWA. Under the standardized approach,

fixed risk weights are applied to residential mortgage exposures, depending on the LTV. The internal model-based

approach considers borrowers’ ability to service debt more accurately, including mortgage affordability and calibration

based on historic data. The Group’s residential mortgage portfolio is focused on the Swiss market, and the Group has

robust review processes in place concerning borrowers’ ability to repay. This results in the Group’s residential mortgage

portfolio having a low average LTV and consequently a lower average risk weight under the A-IRB approach compared

with the standardized approach. For Lombard lending the average risk weight using internal models is lower than under

the standardized approach, primarily due to differences in collateral treatment. In addition, corporate exposures have

higher risk weights under the standardized approach compared with the average risk density in the modelled approach.

CCR RWA under the full standardized approach were higher than actual RWA, primarily reflecting higher risk weights

under the standardized approach compared with the IRB risk weights mainly in the corporate asset class, especially on

managed funds. In addition to risk weights, exposures calculated under the standardized approach are higher, because

the standardized approach does not fully recognize the benefits of netting, portfolio diversification and collateral.

CVA RWA calculated using the full standardized approach were higher than actual RWA, as the application of internal

ratings is not permitted under the standardized approach for output floor calculations.

RWA on securitization exposure in the banking book calculated using the full standardized approach were higher than

actual RWA, due to more conservative assumptions and less granular risk assessments permitted under the SEC-SA when

compared with the SEC-IRBA framework.

31 March 2026 Pillar 3 Report |

UBS Group | Risk-weighted assets 10

CMS1: Comparison of modelled and standardized RWA at risk level

a

b

c

d

e

USD m

RWA for modelled

approaches that UBS has

FINMA approval to use

RWA for portfolios

where standardized

approaches are used

Total Actual RWA

(i.e. RWA which banks

report as current

requirements)

RWA calculated using

full standardized

approach

(i.e. used in the base

of the output floor)

Output floor base

(RWA calculated

using full

standardized

approach)

1

31.3.26

1

Credit risk (excluding counterparty credit risk)

197,153

62,382

259,534

376,516

244,735

2

Counterparty credit risk

29,047

6,363

35,410

142,219

92,442

3

Credit valuation adjustment (CVA)

10,192

10,192

17,795

11,567

4

Securitization exposures in banking book

1,143

3,405

4,548

5,984

3,889

5

Market risk

24,549

24,549

24,756

16,091

6

Operational risk

135,425

135,425

135,425

88,026

7

Residual RWA

2

14

30,682

30,696

30,721

19,968

8

Total

227,357

272,997

500,355

733,414

476,719

3

31.12.25

1

Credit risk (excluding counterparty credit risk)

195,209

61,983

257,192

378,379

227,028

2

Counterparty credit risk

26,465

6,572

33,037

133,981

80,389

3

Credit valuation adjustment (CVA)

8,874

8,874

13,793

8,276

4

Securitization exposures in banking book

1,302

3,499

4,801

6,072

3,643

5

Market risk

23,756

23,756

24,127

14,476

6

Operational risk

135,425

135,425

135,425

81,255

7

Residual RWA

2

1,814

28,500

30,313

30,948

18,569

8

Total

224,790

268,608

493,397

722,726

433,635

3

1 As of 1 January 2026, the output floor increased to 65% from 60% in 2025. 2 Includes settlement risk, equity investments in funds and items subject to threshold deduction treatment that do not exceed their

respective threshold and are risk weighted at 250%. 3 The output floor is applied to total RWAs and not to individual risk categories.

RWA flow statements of credit risk exposures under the internal ratings-based approach

The CR8 table below provides a breakdown of the credit risk RWA movements in the first quarter of 2026 across

movement categories defined by the Basel Committee on Banking Supervision (the BCBS).

Credit risk RWA under the IRB approach increased by USD 1.9bn to USD 197.2bn during the first quarter of 2026. This

balance reflects credit risk under the IRB approach, including the supervisory slotting approach.

Movements in asset size drove an USD 11.0bn increase in RWA, mainly driven by increases in cash and balances at central

banks in Group Treasury, and loans and loan commitments in the Investment Bank and Global Wealth Management.

Movements in asset quality decreased RWA by USD 9.7bn, mainly due to changes in the portfolio mix from an increase

in cash and balances at central banks.

Model updates increased RWA by USD 2.5bn, reflecting higher RWA from model harmonization of Swiss corporate

exposures in Personal & Corporate Banking and the application of the IRB approach for recourse-based lending in Global

Wealth Management.

Methodology and policy changes resulted in an RWA decrease of USD 0.5bn.

Currency effects, driven by the strengthening of the US dollar against other major currencies, resulted in an RWA decrease

of USD 1.4bn.

›

Refer to “Definitions of credit risk and counterparty credit risk RWA movement table components for CR8 and CCR7” in the

“Credit risk” section of the 31 December 2025 Pillar 3 Report, available under “Pillar 3 disclosures” at

ubs.com/investors

, for

definitions of credit risk RWA movement table components

31 March 2026 Pillar 3 Report |

UBS Group | Risk-weighted assets 11

CR8: RWA flow statements of credit risk exposures under IRB

USD m

For the quarter

ended 31.3.26

1

RWA as of the beginning of the quarter

195,209

2

Asset size

11,033

3

Asset quality

(9,706)

4

Model updates

2,513

5

Methodology and policy

(543)

6

Acquisitions and disposals

0

7

Foreign exchange movements

(1,353)

8

Other

9

RWA as of the end of the quarter

197,153

RWA flow statements of counterparty credit risk exposures under the internal model method and VaR

The CCR7 table below presents a flow statement explaining movements in CCR RWA determined under the IMM for

derivatives and the VaR approach for SFTs across movement categories defined by the BCBS.

During the first quarter of 2026, the increase in RWA for derivatives subjected to IMM was primarily driven by market-

driven movements and higher levels of client activity in the Investment Bank. The increase in RWA for SFTs under the VaR

approach was mainly related to higher levels of client activity in the Investment Bank.

›

Refer to “Definitions of credit risk and counterparty credit risk RWA movement table components for CR8 and CCR7” in the

“Credit risk” section of the 31 December 2025 Pillar 3 Report, available under “Pillar 3 disclosures” at

ubs.com/investors

, for

definitions of CCR RWA movement table components

CCR7: RWA flow statements of CCR exposures under the internal model method (IMM) and value-at-risk (VaR)

For the quarter ended 31.3.26

USD m

Derivatives

SFTs

Total

Subject to IMM

Subject to VaR

1

RWA as of the beginning of the quarter

14,623

6,798

21,421

2

Asset size

879

425

1,304

3

Credit quality of counterparties

758

235

994

4

Model updates

(56)

(56)

5

Methodology and policy

6

Acquisitions and disposals

7

Foreign exchange movements

(52)

(38)

(91)

8

Other

9

RWA as of the end of the quarter

16,152

7,420

23,572

RWA flow statements of CVA risk exposures under SA-CVA

The CVA4 table below shows the variations in RWA for CVA risk determined under the SA-CVA. SA-CVA RWA increased

by USD 0.7bn to USD 5.3bn during the first quarter of 2026, mainly driven by an increase in exposures across multiple

counterparties and rebalancing of index hedges over the quarter.

CVA4: RWA flow statements of CVA risk exposures under SA-CVA

USD m

Total RWA

1

RWA as of 31.12.25

4,600

2

RWA as of 31.3.26

5,294

31 March 2026 Pillar 3 Report |

UBS Group | Going and gone concern requirements and eligible capital 12

Going and gone concern requirements and eligible

capital

The table below provides details of the Swiss systemically relevant bank (SRB) going and gone concern capital

requirements as required by the Swiss Financial Market Supervisory Authority (FINMA).

›

Refer to the “Capital management” section of the UBS Group first quarter 2026 report , available under “Quarterly reporting” at

ubs.com/investors

, for more information about capital management

Swiss SRB going and gone concern requirements and information

As of 31.3.26

RWA

LRD

USD m, except where indicated

in %

in %

Required going concern capital

Total going concern capital

15.17

1

75,924

5.08

1

83,913

Common equity tier 1 capital

10.81

2

54,083

3.58

3

59,111

of which: minimum capital

4.50

22,516

1.50

24,802

of which: buffer capital

5.72

28,600

2.08

34,309

of which: countercyclical buffer

0.44

2,191

Maximum additional tier 1 capital

4.37

2

21,842

1.50

24,802

of which: additional tier 1 capital

3.50

17,512

1.50

24,802

of which: additional tier 1 buffer capital

0.80

4,003

Eligible going concern capital

Total going concern capital

19.38

96,963

5.86

96,963

Common equity tier 1 capital

14.65

73,313

4.43

73,313

Total loss-absorbing additional tier 1 capital

4.73

4

23,649

1.43

23,649

of which: high-trigger loss-absorbing additional tier 1 capital

4.73

23,649

1.43

23,649

Required gone concern capital

Total gone concern loss-absorbing capacity

5,6,7

10.89

8

54,474

3.81

8

62,935

of which: base requirement including add-ons for market share and LRD

10.89

54,474

3.81

62,935

Eligible gone concern capital

Total gone concern loss-absorbing capacity

9

20.10

100,593

6.08

100,593

TLAC-eligible senior unsecured debt

20.10

100,583

6.08

100,583

Total loss-absorbing capacity

Required total loss-absorbing capacity

26.06

130,398

8.88

146,848

Eligible total loss-absorbing capacity

39.48

197,556

11.95

197,556

Risk-weighted assets / leverage ratio denominator

Risk-weighted assets

500,355

Leverage ratio denominator

1,653,460

1 Includes applicable add-ons of 1.88% for risk-weighted assets (RWA) and 0.58% for leverage ratio denominator (LRD), of which 22 basis points for RWA reflect a Pillar 2 capital add-on for the residual exposure

(after collateral mitigation) to hedge funds, private equity and family offices, effective 1 January 2025. 2 Includes the Pillar 2 add-on for the residual exposure (after collateral mitigation) to hedge funds, private

equity and family offices of 0.15% for CET1 capital and 0.07% for AT1 capital, effective 1 January 2025. For AT1 capital under Pillar 1 requirements a maximum of 4.3% of AT1 capital can be used to meet going

concern requirements; 4.37% includes the aforementioned Pillar 2 capital add-on. 3 Our CET1 leverage ratio requirement of 3.58% consists of a 1.5% base requirement, a 1.5% base buffer capital requirement,

a 0.28% LRD add-on requirement and a 0.30% market share add-on requirement based on our Swiss credit business. 4 UBS fulfills its minimum going concern capital requirements with CET1 capital and AT1 capital.

The actual available and eligible AT1 capital is above the AT1 capital used to meet the minimum requirements (which is capped at 4.37% as explained in footnote 2) as UBS exceeds its minimum going concern capital

requirements. 5 A maximum of 25% of the gone concern requirements can be met with instruments that have a remaining maturity of between one and two years. Once at least 75% of the minimum gone concern

requirement has been met with instruments that have a remaining maturity of greater than two years, all instruments that have a remaining maturity of between one and two years remain eligible to be included in

the total gone concern capital. 6 Systemically important banks (SIBs) are subject to base gone concern capital requirements equivalent to 75% of the total going concern requirements (excluding countercyclical buffer

requirements and the Pillar 2 add-on). 7 The Swiss Financial Market Supervisory Authority (FINMA) has the authority to impose a surcharge of up to 25% of the total going concern capital requirements (excluding

countercyclical buffer requirements and the Pillar 2 add-on) should obstacles to an SIB’s resolvability be identified in future resolvability assessments. 8 Includes applicable add-ons of 1.24% for RWA and 0.43% for

LRD. 9 Includes an add-back of 45% of unrealized gains from financial assets measured at fair value through other comprehensive income. Such gains do not qualify as CET1 capital, but 45% of these gains can be

recognized as gone concern capital.

31 March 2026 Pillar 3 Report |

UBS Group | Leverage ratio 13

Leverage ratio

Basel III leverage ratio

The Basel Committee on Banking Supervision (the BCBS) leverage ratio, as summarized in the “KM1: Key metrics” table

in section 2 of this report, is calculated by dividing the period-end tier 1 capital by the period-end leverage ratio

denominator (the LRD).

The LRD consists of on-balance sheet assets and off-balance sheet items based on IFRS Accounting Standards. Derivative

exposures are adjusted for netting of replacement values and eligible cash variation margin, potential future exposure,

and net notional amounts for written credit derivatives. The LRD also includes an additional charge for counterparty credit

risk related to securities financing transactions (SFTs).

On-balance sheet items (excluding derivatives and securities financing transactions (SFTs), but including collateral), as

disclosed in the LR2 table, differ from IFRS Accounting Standards total assets due to adjustments to the former for the

application of the regulatory scope of consolidation and due to the carrying amounts for derivative financial instruments

and SFTs, which are removed and replaced with exposures, as per the leverage ratio rules, in separate line items in the

LR2 table.

Difference between the Swiss systemically relevant bank leverage ratio and BCBS leverage ratio

The LRD is the same under Swiss systemically relevant bank (SRB) and BCBS rules. However, there is a difference in the

capital numerator between the two frameworks. Under BCBS rules only common equity tier 1 and additional tier 1 (AT1)

capital are included in the numerator. Under Swiss SRB rules UBS is required to meet going and gone concern leverage

ratio requirements. Therefore, depending on the requirement, the numerator includes tier 1 capital instruments, tier 2

capital instruments and / or total loss-absorbing capacity-eligible senior unsecured debt.

The difference between the total leverage ratio exposures of USD 1,653.5bn and total consolidated assets as per the

published financial statements of USD 1,686.5bn was USD 33.1bn, reflecting the sum of lines 2 to 12 in the following

table.

LR1: Summary comparison of accounting assets vs leverage ratio exposure measure

USD m

31.3.26

31.12.25

1

Total consolidated assets as per published financial statements

1,686,521

1,617,427

2

Adjustment for investments in banking, financial, insurance or commercial entities that are consolidated for accounting purposes but outside the

scope of regulatory consolidation

(20,970)

(21,907)

3

Adjustment for securitized exposures that meet the operational requirements for the recognition of risk transference

4

Adjustments for temporary exemption of central bank reserves (if applicable)

5

Adjustment for fiduciary assets recognized on the balance sheet pursuant to the operative accounting framework but excluded from the leverage

ratio exposure measure

6

Adjustments for regular-way purchases and sales of financial assets subject to trade date accounting

7

Adjustments for eligible cash pooling transactions

8

Adjustments for derivative financial instruments

1

(70,223)

(37,043)

9

Adjustment for securities financing transactions (i.e. repos and similar secured lending)

12,363

10,594

10

Adjustment for off-balance sheet items (i.e. conversion to credit equivalent amounts of off-balance sheet exposures)

58,374

64,920

11

Adjustments for prudent valuation adjustments and specific and general provisions which have reduced Tier 1 capital

2

(874)

(876)

12

Other adjustments

(11,731)

(10,676)

12a

of which: asset amounts deducted in determining Tier 1 capital

(11,454)

(11,984)

12b

of which: consolidated entities under the regulatory scope of consolidation

1,308

13

Leverage ratio exposure

1,653,460

1,622,438

1 As of 31 December 2025, initial margin posted with exchanges on derivatives was included in Derivative exposures. As of 31 March 2026, we have reclassified initial margin on derivatives under On-balance sheet

exposures. 2 Reflects the shortfall to expected losses on advanced internal ratings-based (IRB) portfolio less general provisions. Deduction items other than the IRB shortfall are disclosed in row 12a.

31 March 2026 Pillar 3 Report |

UBS Group | Leverage ratio 14

LR2: Leverage ratio common disclosure

USD m, except where indicated

31.3.26

31.12.25

On-balance sheet exposures

1

On-balance sheet items (excluding derivatives and securities financing transactions (SFTs), but including collateral)

1,336,999

1,311,429

2

Gross-up for derivatives collateral provided where deducted from balance sheet assets pursuant to the operative accounting framework

3

(Deductions of receivable assets for cash variation margin provided in derivatives transactions)

(34,540)

(40,465)

4

(Adjustment for securities received under securities financing transactions that are recognised as an asset)

5

(Specific and general provisions associated with on-balance sheet exposures that are deducted from Tier 1 capital)

(950)

(901)

6

(Asset amounts deducted in determining Tier 1 capital)

(11,454)

(11,984)

7

Total on-balance sheet exposures (excluding derivatives and SFTs)

1

1,290,056

1,258,078

Derivative Exposures

8

Replacement cost associated with all derivatives transactions (where applicable net of eligible cash variation margin and/or with bilateral netting)

52,393

52,151

9

Add-on amounts for potential future exposure associated with all derivatives transactions

111,038

118,089

10

(Exempted qualifying central counterparty (QCCP) leg of client-cleared trade exposures)

(19,000)

(20,424)

11

Adjusted effective notional amount of all written credit derivatives

2

105,049

79,218

12

(Adjusted effective notional offsets and add-on deductions for written credit derivatives)

3

(103,652)

(77,817)

13

Total derivative exposures

1

145,829

151,216

Securities financing transaction exposures

14

Gross SFT assets (with no recognition of netting), after adjusting for sale accounting transactions

262,845

247,796

15

(Netted amounts of cash payables and cash receivables of gross SFT assets)

(116,083)

(110,191)

16

Counterparty credit risk exposure for SFT assets

12,363

10,594

17

Agent transaction exposures

18

Total securities financing transaction exposures

159,125

148,199

Other off-balance sheet exposures

19

Off-balance sheet exposure at gross notional amount

199,891

265,073

20

(Adjustments for conversion to credit equivalent amounts)

(141,516)

(200,153)

21

(Specific and general provisions associated with off-balance sheet exposures deducted in determining Tier 1 capital)

76

25

22

Total off-balance sheet items

58,450

64,945

Capital and total exposures (leverage ratio denominator), phase-in

23

Tier 1 capital

96,963

91,176

24

Total exposures (leverage ratio denominator)

1,653,460

1,622,438

Leverage ratio

25

Basel III leverage ratio (%) (including the impact of any applicable temporary exemption of central bank reserves)

4

5.86

5.62

25a

Basel III leverage ratio (%) (excluding the impact of any applicable temporary exemption of central bank reserves)

4

5.86

5.62

26

Leverage ratio minimum requirement (%)

5

3.00

3.00

27

Leverage ratio buffers (%)

5

2.08

2.00

Disclosure of mean values

28

Mean value of gross SFT assets, after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash

receivables

148,078

148,140

29

Quarter-end value of gross SFT assets, after adjustment for sale accounting transactions and netted of amounts of associated cash payables and

cash receivables

146,763

137,605

30

Total exposures (including the impact of any applicable temporary exemption of central bank reserves) incorporating mean values from row 28 of

gross SFT assets (after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash receivables)

4

1,654,776

1,632,973

30a

Total exposures (excluding the impact of any applicable temporary exemption of central bank reserves) incorporating mean values from row 28

of gross SFT assets (after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash receivables)

4

1,654,776

1,632,973

31

Basel III leverage ratio (%) (including the impact of any applicable temporary exemption of central bank reserves) incorporating mean values from

row 28 of gross SFT assets (after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash

receivables)

4

5.86

5.58

31a

Basel III leverage ratio (%) (excluding the impact of any applicable temporary exemption of central bank reserves) incorporating mean values

from row 28 of gross SFT assets (after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash

receivables)

4

5.86

5.58

1 As of 31 December 2025, initial margin posted with exchanges on derivatives was included in Derivative exposures. As of 31 March 2026, we have reclassified initial margin on derivatives under On-balance sheet

exposures. 2 Includes protection sold, including agency transactions. 3 Protection sold can be offset with protection bought on the same underlying reference entity, provided that the conditions according to the

Basel III leverage ratio framework and disclosure requirements are met. 4 There is currently no temporary exemption of central bank reserves for UBS. 5 The total Swiss SRB leverage ratio requirement of 5.08%

as of 31 March 2026 (5% as of 31 December 2025) is composed of a base requirement and a buffer requirement. The total requirement is above the BCBS leverage ratio requirement, including the G-SIB buffer.

LRD development during the first quarter of 2026

During the first quarter of 2026, the LRD increased by USD 31.0bn to USD 1,653.5bn, driven by a USD 40.6bn increase

from asset size and other movements, partly offset by a USD 9.5bn decrease from currency effects.

31 March 2026 Pillar 3 Report |

UBS Group | Leverage ratio 15

On-balance sheet exposures (excluding derivatives and securities financing transactions) increased by USD 32.0bn, mainly

due to asset size and other movements of USD 39.9bn, partly offset by currency effects of USD 7.9bn. The asset size

movement was mainly due to increases in cash and balances at central banks and high-quality liquid asset portfolio

securities in Group Treasury. In addition, there was an increase in lending assets, mainly reflecting positive net new loans

in Global Wealth Management and Personal & Corporate Banking, and an increase in the Investment Bank. These

increases were partly offset by decreases in trading assets reflecting lower inventory held to hedge client positions, as

well as market-driven decreases in the Investment Bank. In addition, the initial margin on derivatives of USD 14.0bn was

reclassified from Derivative exposures to On-balance sheet exposures.

Derivative exposures decreased by USD 5.4bn, mainly due to asset size and other movements of USD 4.8bn and currency

effects of USD 0.6bn. The asset size movement was mainly due to the aforementioned reclassification of initial margin

to On-balance sheet exposures and higher netting, partly offset by increases in derivatives and cash collateral receivables

on derivative instruments, mainly in the Investment Bank, driven by equity and foreign currency contracts, mainly due to

new trades, as well as market-driven increases.

Securities financing transaction exposures increased by USD 10.9bn, mainly due to asset size and other movements of

USD 11.6bn, partly offset by currency effects of USD 0.7bn. The asset size movement was primarily due to higher levels

of client activity in the Investment Bank and cash reinvestment trades in Group Treasury.

Off-balance sheet items decreased by USD 6.5bn, mainly due to asset size and other movements of USD 6.1bn and

currency effects of USD 0.4bn. The asset size movement was primarily due to credit lines in Global Wealth Management

becoming uncommitted following changes to certain contractual terms in the course of client account migrations in the

first quarter of 2026.

›

Refer to “Leverage ratio denominator” in the “Capital management” section of the UBS Group first quarter 2026 report, available

under “Quarterly reporting” at

ubs.com/investors

, for more information

Liquidity and funding

Liquidity coverage ratio

We monitor the liquidity coverage ratio (the LCR) in all significant currencies in order to manage any currency mismatch

between high-quality liquid assets (HQLA) and the net expected cash outflows in times of stress.

Further key information

First quarter 2026 report section

Disclosure

First quarter 2026 report page number

Concentration of funding sources

Balance sheet and off-balance sheet

Customer deposits, by currency

48

High-quality liquid assets

HQLA must be easily and immediately convertible into cash at little or no loss of value, especially during a period of stress.

HQLA are assets that are of low risk and are unencumbered. Other characteristics of HQLA are ease and certainty of

valuation, low correlation with risky assets, listing of the assets on a developed and recognized exchange, existence of

an active and sizable market for the assets, and low volatility. Our HQLA predominantly consist of assets that qualify as

Level 1 in the LCR framework, including cash, central bank reserves and government bonds. In the first quarter of 2026,

our HQLA increased by USD 2.4bn to USD 334.0bn, mainly reflecting higher cash available due to an increase in customer

deposits, higher proceeds from debt issued at amortized cost and higher net brokerage payables, partly offset by lower

cash available from higher lending assets and cash collateral margin requirements, as well as a decrease in HQLA from

securities financing transactions.

High-quality liquid assets (HQLA)

Average 1Q26

1

Average 4Q25

1

USD m

Level 1

weighted

liquidity

value

2

Level 2

weighted

liquidity

value

2

Total

weighted

liquidity

value

2

Level 1

weighted

liquidity

value

2

Level 2

weighted

liquidity

value

2

Total

weighted

liquidity

value

2

Cash balances

3

211,801

211,801

219,658

219,658

Securities (on- and off-balance sheet)

92,949

29,213

122,162

82,454

29,456

111,910

Total HQLA

4

304,750

29,213

333,963

302,112

29,456

331,568

1 Calculated based on an average of 62 data points in the first quarter of 2026 and 64 data points in the fourth quarter of 2025. 2 Calculated after the application of haircuts and, where applicable, caps on Level 2

assets. 3 Includes cash and balances with central banks and other eligible balances as prescribed by FINMA. 4 Calculated in accordance with FINMA requirements.

31 March 2026 Pillar 3 Report |

UBS Group | Liquidity and funding 16

Liquidity coverage ratio development during the first quarter of 2026

The quarterly average LCR of the UBS Group decreased 4.8 percentage points to 177.8%, remaining above the prudential

requirement communicated by the Swiss Financial Market Supervisory Authority (FINMA).

Average net cash outflows increased by USD 6.2bn to USD 187.9bn, primarily reflecting higher net outflows from

deposits. The effect of the increase in net cash outflows was partly offset by a USD 2.4bn increase in average

HQLA,

mainly reflecting

higher cash available due to an increase in customer deposits, higher proceeds from debt issued

at amortized cost and higher net brokerage payables, partly offset by lower cash available from higher lending assets and

cash collateral margin requirements, as well as a decrease in HQLA from securities financing transactions.

LIQ1: Liquidity coverage ratio (LCR)

Average 1Q26

1

Average 4Q25

1

USD m

Unweighted

value

Weighted

value

2

Unweighted

value

Weighted

value

2

High-quality liquid assets (HQLA)

1

Total HQLA

340,065

333,963

337,688

331,568

Cash outflows

2

Retail deposits and deposits from small business customers

391,282

45,216

389,513

44,968

3

of which: stable deposits

31,893

1,149

31,732

1,149

4

of which: less stable deposits

359,389

44,067

357,781

43,819

5

Unsecured wholesale funding

311,308

162,211

302,854

154,390

6

of which: operational deposits (all counterparties)

61,781

15,445

62,134

15,533

7

of which: non-operational deposits (all counterparties)

233,679

130,918

225,757

123,894

8

of which: unsecured debt

15,847

15,847

14,963

14,963

9

Secured wholesale funding

113,952

103,944

10

Additional requirements:

125,158

49,891

165,260

45,780

11

of which: outflows related to derivatives and other transactions

3

38,094

30,860

78,927

26,841

12

of which: outflows related to loss of funding on debt products

4

379

379

552

552

13

of which: committed credit and liquidity facilities

86,685

18,651

85,780

18,386

14

Other contractual funding obligations

31,820

29,404

28,190

25,936

15

Other contingent funding obligations

351,216

16,485

344,743

15,116

16

Total cash outflows

417,159

390,134

Cash inflows

17

Secured lending

411,535

147,849

372,511

136,266

18

Inflows from fully performing exposures

82,659

37,395

81,016

37,809

19

Other cash inflows

44,046

44,046

34,366

34,366

20

Total cash inflows

538,240

229,290

487,892

208,441

Average 1Q26

1

Average 4Q25

1

USD m, except where indicated

Total adjusted

value

5

Total adjusted

value

5

Liquidity coverage ratio (LCR)

21

Total HQLA

333,963

331,568

22

Net cash outflows

187,869

181,693

23

LCR (%)

177.83

182.64

1 Calculated based on an average of 62 data points in the first quarter of 2026 and 64 data points in the fourth quarter of 2025. 2 Calculated after the application of haircuts and inflow and outflow rates.

3 Effective from 1 January 2026, unweighted outflows from increased liquidity needs related to potential valuation changes on posted cash and level 1 collateral securing derivatives and other transactions have been

excluded from Line 11, following prospective alignment with Pillar 3 reporting requirements. This change had no impact on the disclosure of weighted amounts. 4 Includes outflows related to loss of funding on

asset-backed securities, covered bonds, other structured financing instruments, asset-backed commercial papers, structured entities (conduits), securities investment vehicles and other such financing facilities.

5 Calculated after the application of haircuts and inflow and outflow rates, as well as, where applicable, caps on Level 2 assets and cash inflows.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | Introduction 17

Significant regulated subsidiaries

and sub-groups

Introduction

Scope of disclosures in these sections

The sections below include capital and other regulatory information as of 31 March 2026 for UBS AG consolidated,

UBS AG standalone, UBS Switzerland AG standalone, UBS Europe SE consolidated and UBS Americas Holding LLC

consolidated. Capital information in the following sections is based on Pillar 1 capital requirements. Entities may be

subject to significant additional Pillar 2 requirements, which represent additional amounts of capital considered necessary

and are agreed with regulators based on the risk profile of the respective entity.

›

Refer to the “Introduction and basis for preparation” section of this report for information about the discontinuance of the

quarterly disclosure of prudential key figures and regulatory information for Credit Suisse International standalone

UBS AG consolidated

Key metrics for the first quarter of 2026

The table below is based on the Swiss Financial Market Supervisory Authority (FINMA) Ordinance on the Disclosure

Obligations of Banks and Securities Firms (DisO-FINMA) rules and IFRS Accounting Standards.

During the first quarter of 2026, tier 1 capital increased by USD 4.1bn to USD 94.1bn. Common equity tier 1 (CET1)

capital increased by USD 0.5bn to USD 70.9bn, mainly driven by operating profit before tax of USD 3.2bn, partly offset

by additional dividend accruals of USD 1.8bn, current tax expenses of USD 0.5bn and negative foreign currency

translation effects of USD 0.2bn. Additional tier 1 (AT1) capital issued by the Group and on lent to UBS AG increased by

USD 3.7bn to USD 23.3bn, reflecting the issuance of new AT1 capital instruments equivalent to USD 3.7bn.

Risk-weighted assets (RWA) increased by USD 7.7bn to USD 497.4bn, driven by an USD 8.5bn increase resulting from

asset size and other movements and a USD 1.0bn increase driven by model updates and methodology changes, partly

offset by a USD 1.8bn decrease from currency effects.

The leverage ratio denominator (the LRD) increased by USD 32.5bn to USD 1,655.4bn, mainly due to a USD 42.0bn

increase from asset size and other movements, partly offset by a USD 9.5bn decrease from currency effects. The asset

size movement was mainly due to increases in cash and balances at central banks, high-quality liquid asset (HQLA)

portfolio securities, lending assets, securities financing transactions and derivative exposures. These increases were partly

offset by decreases in trading assets and off-balance sheet exposures.

Correspondingly, the CET1 capital ratio of UBS AG consolidated decreased to 14.2% from 14.4%, reflecting the

aforementioned increase in RWA, partly offset by the aforementioned increase in CET1 capital. The Basel III leverage ratio

increased to 5.7% from 5.5%, reflecting the aforementioned increase in tier 1 capital, partly offset by the aforementioned

increase in the LRD.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS AG consolidated 18

The quarterly average liquidity coverage ratio (the LCR) of

UBS AG

consolidated

decreased 3.9 percentage points to

172.4%,

remaining

above the prudential requirement communicated by FINMA. The movement in the quarterly average

LCR was primarily driven by a USD 5.5bn increase in average net cash outflows to USD 193.9bn, reflecting higher net

outflows from deposits. The effect of the increase in net cash outflows was partly offset by a USD 2.4bn increase in

average HQLA to USD 334.1bn,

mainly reflecting

higher cash available due to an increase in customer deposits, higher

proceeds from debt issued at amortized cost and higher net brokerage payables, partly offset by lower cash available

from higher lending assets and cash collateral margin requirements, as well as a decrease in HQLA from securities

financing transactions.

As of 31 March 2026, the net stable funding ratio of UBS AG consolidated increased 0.4 percentage points to 116.1%,

remaining above the prudential requirement communicated by FINMA. Available stable funding increased by USD 13.8bn

to USD 887.3bn, mainly driven by increases in debt issued measured at amortized cost and regulatory capital. Required

stable funding increased by USD 9.0bn to USD 764.3bn, mainly reflecting higher derivatives and cash collateral

receivables on derivative instruments, and higher lending assets, partly offset by lower trading assets.

KM1: Key metrics

USD m, except where indicated

31.3.26

31.12.25

30.9.25

30.6.25

31.3.25

Available capital (amounts)

1

Common Equity Tier 1 (CET1)

70,867

70,394

71,460

69,829

70,756

2

Tier 1

94,129

89,993

91,425

88,485

89,081

3

Total capital

94,139

90,018

91,425

88,485

89,081

Risk-weighted assets (amounts)

4

Total risk-weighted assets (RWA)

497,433

489,775

502,425

498,327

481,539

4a

Total risk-weighted assets (pre-floor)

497,433

489,775

502,425

498,327

481,539

4b

Minimum capital requirement

1

39,795

39,182

40,194

39,866

38,523

Risk-based capital ratios as a percentage of RWA

5

Common equity tier 1 ratio (%)

14.25

14.37

14.22

14.01

14.69

5b

Common equity tier 1 ratio (%) (pre-floor)

14.25

14.37

14.22

14.01

14.69

6

Tier 1 ratio (%)

18.92

18.37

18.20

17.76

18.50

6b

Tier 1 ratio (%) (pre-floor)

18.92

18.37

18.20

17.76

18.50

7

Total capital ratio (%)

18.92

18.38

18.20

17.76

18.50

7b

Total capital ratio (%) (pre-floor)

18.92

18.38

18.20

17.76

18.50

Additional CET1 buffer requirements as a percentage of RWA

8

Capital conservation buffer requirement (%)

2.50

2.50

2.50

2.50

2.50

9

Countercyclical buffer requirement (%)

0.11

0.11

0.11

0.13

0.13

9a

Additional countercyclical buffer for Swiss mortgage loans (%)

0.33

0.39

0.33

0.34

0.31

10

Bank G-SIB and / or D-SIB additional requirements (%)

2

11

Total of bank CET1 specific buffer requirements (%)

3

2.61

2.61

2.61

2.63

2.63

12

CET1 available after meeting the bank’s minimum capital requirements (%)

4

9.75

9.87

9.72

9.51

10.19

Basel III leverage ratio

13

Total Basel III leverage ratio exposure measure

1,655,400

1,622,921

1,642,843

1,660,097

1,565,845

14

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves)

5

5.69

5.55

5.57

5.33

5.69

14b

Basel III leverage ratio (%) (excluding the impact of any applicable temporary

exemption of central bank reserves)

5.69

5.55

5.57

5.33

5.69

14c

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves) incorporating mean values for SFT assets

5

5.68

5.51

5.55

5.34

5.67

14d

Basel III leverage ratio (%) (excluding the impact of any applicable temporary

exemption of central bank reserves) incorporating mean values for SFT assets

5.68

5.51

5.55

5.34

5.67

14e

Minimum capital requirements

6

49,662

48,688

49,285

49,803

46,975

Liquidity coverage ratio (LCR)

7

15

Total high-quality liquid assets (HQLA)

334,144

331,745

346,734

358,940

318,893

16

Total net cash outflow

193,898

188,446

193,817

200,107

176,928

16a

of which: cash outflows

425,438

398,805

393,826

390,719

366,165

16b

of which: cash inflows

231,541

210,360

200,009

190,613

189,237

17

LCR (%)

172.39

176.24

178.96

179.45

180.28

Net stable funding ratio (NSFR)

18

Total available stable funding

887,341

873,515

887,444

892,381

853,742

19

Total required stable funding

764,273

755,278

748,303

738,056

695,201

20

NSFR (%)

116.10

115.65

118.59

120.91

122.81

1 Calculated as 8% of total RWA, based on total capital minimum requirements, excluding CET1 buffer requirements. 2 Swiss SRB going and gone concern requirements and information for UBS AG consolidated

are provided below in this section. 3 Excludes non-BCBS capital buffer requirements for risk-weighted positions that are directly or indirectly backed by residential properties in Switzerland. 4 Represents the CET1

ratio that is available to meet buffer requirements. Calculated as the CET1 ratio minus the BCBS CET1 capital requirement and, where applicable, minus the BCBS tier 2 capital requirement met with CET1 capital.

5 There is currently no temporary exemption of central bank reserves for UBS. 6 The higher of capital requirements based on 8% of RWA or 3% of LRD. 7 Calculated after the application of haircuts and inflow

and outflow rates, as well as, where applicable, caps on Level 2 assets and cash inflows. Calculated based on an average of 62 data points in the first quarter of 2026 and 64 data points in the fourth quarter of 2025.

For the prior-quarter data points, refer to the respective Pillar 3 Report, available under “Pillar 3 disclosures” at ubs.com/investors, for more information.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS AG consolidated 19

Swiss systemically relevant bank going and gone concern requirements and information

The tables below provide details of the Swiss systemically relevant bank RWA- and LRD-based going and gone concern

requirements and information as required by FINMA; details regarding eligible gone concern instruments are also provided

below.

Outstanding total loss-absorbing capacity-eligible unsecured debt instruments are eligible to meet gone concern

requirements until one year before maturity.

More information about the going and gone concern requirements is provided in the “Total loss-absorbing capacity”

section of the UBS AG Annual Report 2025, available under “Annual reporting” at

ubs.com/investors.

Swiss SRB going and gone concern requirements and information

As of 31.3.26

RWA

LRD

USD m, except where indicated

in %

in %

Required going concern capital

Total going concern capital

15.20

1

75,634

5.08

1

84,119

Common equity tier 1 capital

10.84

2

53,918

3.58

3

59,288

of which: minimum capital

4.50

22,384

1.50

24,831

of which: buffer capital

5.72

28,433

2.08

34,350

of which: countercyclical buffer

0.45

2,219

Maximum additional tier 1 capital

4.37

2

21,716

1.50

24,831

of which: additional tier 1 capital

3.50

17,410

1.50

24,831

of which: additional tier 1 buffer capital

0.80

3,979

Eligible going concern capital

Total going concern capital

18.92

94,129

5.69

94,129

Common equity tier 1 capital

14.25

70,867

4.28

70,867

Total loss-absorbing additional tier 1 capital

4.68

4

23,262

1.41

23,262

of which: high-trigger loss-absorbing additional tier 1 capital

4.68

23,262

1.41

23,262

Required gone concern capital

Total gone concern loss-absorbing capacity

5,6,7

10.89

54,156

3.81

63,009

of which: base requirement including add-ons for market share and LRD

10.89

8

54,156

3.81

8

63,009

Eligible gone concern capital

Total gone concern loss-absorbing capacity

9

19.44

96,717

5.84

96,717

TLAC-eligible unsecured debt

19.44

96,707

5.84

96,707

Total loss-absorbing capacity

Required total loss-absorbing capacity

26.09

129,790

8.89

147,127

Eligible total loss-absorbing capacity

38.37

190,846

11.53

190,846

Risk-weighted assets / leverage ratio denominator

Risk-weighted assets

497,433

Leverage ratio denominator

1,655,400

1 Includes applicable add-ons of 1.90% for risk-weighted assets (RWA) and 0.58% for leverage ratio denominator (LRD), of which 2 basis points for RWA and 1 basis point for LRD reflect a Pillar 2 capital add-on of

USD 107m related to the supply chain finance funds matter at Credit Suisse. An additional 22 basis points for RWA reflect a Pillar 2 capital add-on for the residual exposure (after collateral mitigation) to hedge funds,

private equity and family offices, effective 1 January 2025. 2 Includes the Pillar 2 add-on for the residual exposure (after collateral mitigation) to hedge funds, private equity and family offices of 0.16% for CET1

capital and 0.07% for AT1 capital, effective 1 January 2025. For AT1 capital under Pillar 1 requirements a maximum of 4.3% of AT1 capital can be used to meet going concern requirements; 4.37% includes the

aforementioned Pillar 2 capital add-on. 3 Our CET1 leverage ratio requirement of 3.58% consists of a 1.5% base requirement, a 1.5% base buffer capital requirement, a 0.28% LRD add-on requirement, a 0.30%

market share add-on requirement based on our Swiss credit business and a 0.01% Pillar 2 capital add-on related to the supply chain finance funds matter at Credit Suisse. 4 UBS fulfills its minimum going concern

capital requirements with CET1 capital and AT1 capital. The actual available and eligible AT1 capital is above the AT1 capital used to meet the minimum requirements (which is capped at 4.37% as explained in

footnote 2) as UBS exceeds its minimum going concern requirements. 5 A maximum of 25% of the gone concern requirements can be met with instruments that have a remaining maturity of between one and two

years. Once at least 75% of the minimum gone concern requirement has been met with instruments that have a remaining maturity of greater than two years, all instruments that have a remaining maturity of between

one and two years remain eligible to be included in the total gone concern capital. 6 Systemically important banks (SIBs) are subject to base gone concern capital requirements equivalent to 75% of the total going

concern requirements (excluding countercyclical buffer requirements and the Pillar 2 add-ons). 7 FINMA has the authority to impose a surcharge of up to 25% of the total going concern capital requirements

(excluding countercyclical buffer requirements and the Pillar 2 add-ons) should obstacles to an SIB’s resolvability be identified in future resolvability assessments. 8 Includes applicable add-ons of 1.24% for RWA

and 0.43% for LRD. 9 Includes an add-back of 45% of unrealized gains from financial assets measured at fair value through other comprehensive income. Such gains do not qualify as CET1 capital, but 45% of

these gains can be recognized as gone concern capital.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS AG consolidated 20

Swiss SRB going and gone concern information

USD m, except where indicated

31.3.26

31.12.25

Eligible going concern capital

Total going concern capital

94,129

89,993

Total tier 1 capital

94,129

89,993

Common equity tier 1 capital

70,867

70,394

Total loss-absorbing additional tier 1 capital

23,262

19,600

of which: high-trigger loss-absorbing additional tier 1 capital

23,262

19,600

of which: low-trigger loss-absorbing additional tier 1 capital

Eligible gone concern capital

Total gone concern loss-absorbing capacity

1

96,717

90,164

TLAC-eligible unsecured debt

96,707

90,139

Total loss-absorbing capacity

Total loss-absorbing capacity

190,846

180,157

Risk-weighted assets / leverage ratio denominator

Risk-weighted assets

497,433

489,775

Leverage ratio denominator

1,655,400

1,622,921

Capital and loss-absorbing capacity ratios (%)

Going concern capital ratio

18.9

18.4

of which: common equity tier 1 capital ratio

14.2

14.4

Gone concern loss-absorbing capacity ratio

19.4

18.4

Total loss-absorbing capacity ratio

38.4

36.8

Leverage ratios (%)

Going concern leverage ratio

5.7

5.5

of which: common equity tier 1 leverage ratio

4.3

4.3

Gone concern leverage ratio

5.8

5.6

Total loss-absorbing capacity leverage ratio

11.5

11.1

1 Includes an add-back of 45% of unrealized gains from financial assets measured at fair value through other comprehensive income. Such gains do not qualify as CET1 capital, but 45% of these gains can be

recognized as gone concern capital.

UBS AG standalone

Key metrics for the first quarter of 2026

The table below is based on the Swiss Financial Market Supervisory Authority (FINMA) Ordinance on the Disclosure

Obligations of Banks and Securities Firms (DisO-FINMA) rules and IFRS Accounting Standards.

During the first quarter of 2026, tier 1 capital increased by USD 3.0bn to USD 96.7bn. Common equity tier 1 (CET1)

capital decreased by USD 0.6bn to USD 73.5bn, mainly as operating profit before tax of USD 1.0bn was more than offset

by additional dividend accruals of USD 1.8bn. Additional tier 1 (AT1) capital issued by the Group and on lent to UBS AG

increased by USD 3.7bn to USD 23.3bn, reflecting the issuance of new AT1 capital instruments equivalent to USD 3.7bn.

Risk-weighted assets (RWA) increased by USD 16.5bn to USD 508.1bn, driven by a USD 9.2bn increase in RWA on

investments in Swiss and foreign-domiciled subsidiaries, predominantly due to the phased increase of risk weights in

accordance with the relevant FINMA decree. In addition, there were increases of USD 6.5bn in credit and counterparty

credit risk RWA and USD 1.8bn in market risk RWA, partly offset by a decrease of USD 1.3bn in operational risk RWA.

The leverage ratio denominator (the LRD) decreased by USD 2.5bn to USD 927.5bn, driven by a USD 4.2bn decrease

from currency effects, partly offset by a USD 1.8bn increase from asset size and other movements. The asset size

movement was mainly driven by increases in securities financing transactions, cash and balances at central banks, and

derivatives exposures, partly offset by decreases in trading portfolio assets and off-balance sheet exposures.

Correspondingly, the CET1 capital ratio of UBS AG standalone decreased to 14.5% from 15.1%, reflecting the

aforementioned increase in RWA and the aforementioned decrease in CET1 capital. The Basel III leverage ratio increased

to 10.4% from 10.1%, reflecting the aforementioned increase in tier 1 capital and the aforementioned decrease in the

LRD.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS AG standalone 21

The quarterly average liquidity coverage ratio (the LCR) of UBS AG standalone decreased 3.7 percentage points to

231.2%,

remaining

above the prudential requirement communicated by FINMA. The movement in the quarterly average

LCR was primarily driven by a USD 3.7bn increase in average net cash outflows to USD 67.4bn, mainly reflecting

lower

inflows from

intercompany loans. The effect of the increase in net cash outflows was partly offset by a USD 6.5bn increase

in average high-quality liquid assets to USD 155.8bn,

mainly reflecting

higher cash available from funding from UBS

Group AG and capital repatriations, and higher net brokerage payables, partly offset by lower cash available from lower

customer deposits.

As of 31 March 2026, the net stable funding ratio of UBS AG standalone increased 0.8 percentage points to 91.5%,

remaining above the prudential requirement communicated by FINMA. Available stable funding decreased by USD 7.3bn

to USD 397.5bn, mainly driven by lower customer deposits, partly offset by higher debt issued measured at amortized

cost and funding from UBS Group AG. Required stable funding decreased by USD 12.0bn to USD 434.5bn, primarily

reflecting lower lending assets and trading assets, partly offset by higher derivatives and cash collaterals receivables on

derivative instruments.

KM1: Key metrics

USD m, except where indicated

31.3.26

31.12.25

30.9.25

30.6.25

31.3.25

Available capital (amounts)

1

Common Equity Tier 1 (CET1)

73,478

74,108

73,384

73,178

70,980

2

Tier 1

96,741

93,707

93,349

91,834

89,305

3

Total capital

96,750

93,731

93,349

91,834

89,305

Risk-weighted assets (amounts)

1

4

Total risk-weighted assets (RWA)

508,053

491,583

517,929

516,479

514,897

4a

Total risk-weighted assets (pre-floor)

508,053

491,583

517,929

516,479

514,897

4b

Minimum capital requirement

2

40,644

39,327

41,434

41,318

41,192

Risk-based capital ratios as a percentage of RWA

1

5

Common equity tier 1 ratio (%)

14.46

15.08

14.17

14.17

13.79

5b

Common equity tier 1 ratio (%) (pre-floor)

14.46

15.08

14.17

14.17

13.79

6

Tier 1 ratio (%)

19.04

19.06

18.02

17.78

17.34

6b

Tier 1 ratio (%) (pre-floor)

19.04

19.06

18.02

17.78

17.34

7

Total capital ratio (%)

19.04

19.07

18.02

17.78

17.34

7b

Total capital ratio (%) (pre-floor)

19.04

19.07

18.02

17.78

17.34

Additional CET1 buffer requirements as a percentage of RWA

8

Capital conservation buffer requirement (%)

2.50

2.50

2.50

2.50

2.50

9

Countercyclical buffer requirement (%)

0.11

0.12

0.14

0.15

0.15

9a

Additional countercyclical buffer for Swiss mortgage loans (%)

0.00

0.00

0.00

0.00

10

Bank G-SIB and / or D-SIB additional requirements (%)

3

11

Total of bank CET1 specific buffer requirements (%)

4

2.61

2.62

2.64

2.65

2.65

12

CET1 available after meeting the bank’s minimum capital requirements (%)

5

9.96

10.58

9.67

9.67

9.29

Basel III leverage ratio

13

Total Basel III leverage ratio exposure measure

927,504

929,979

952,112

964,000

935,496

14

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves)

6

10.43

10.08

9.80

9.53

9.55

14b

Basel III leverage ratio (%) (excluding the impact of any applicable

temporary exemption of central bank reserves)

10.43

10.08

9.80

9.53

9.55

14c

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves) incorporating mean values for SFT

assets

6

10.37

9.96

9.72

9.56

9.52

14d

Basel III leverage ratio (%) (excluding the impact of any applicable

temporary exemption of central bank reserves) incorporating mean values for

SFT assets

10.37

9.96

9.72

9.56

9.52

14e

Minimum capital requirements

7

40,644

39,327

41,434

41,318

41,192

Liquidity coverage ratio (LCR)

8

15

Total high-quality liquid assets (HQLA)

155,764

149,309

162,513

177,434

150,544

16

Total net cash outflow

67,431

63,723

67,644

75,720

65,962

16a

of which: cash outflows

264,467

249,107

244,306

248,255

238,931

16b

of which: cash inflows

197,036

185,384

176,662

172,535

172,969

17

LCR (%)

231.18

234.90

240.93

235.52

229.18

Net stable funding ratio (NSFR)

9

18

Total available stable funding

397,527

404,842

419,024

421,323

410,507

19

Total required stable funding

434,500

446,475

435,582

435,547

418,661

20

NSFR (%)

91.49

90.68

96.20

96.73

98.05

1 Based on phase-in rules for RWA. Refer to “Swiss systemically relevant bank going and gone concern requirements and information” below for more information. 2 Calculated as 8% of total RWA, based on total

capital minimum requirements, excluding CET1 buffer requirements. 3 Swiss SRB going and gone concern requirements and information for UBS AG standalone are provided below in this section. 4 Excludes non-

BCBS capital buffer requirements for risk-weighted positions that are directly or indirectly backed by residential properties in Switzerland. 5 Represents the CET1 ratio that is available to meet buffer requirements.

Calculated as the CET1 ratio minus the BCBS CET1 capital requirement and, where applicable, minus the BCBS tier 2 capital requirement met with CET1 capital. 6 There is currently no temporary exemption of

central bank reserves for UBS. 7 The higher of capital requirements based on 8% of RWA or 3% of LRD. 8 Calculated after the application of haircuts and inflow and outflow rates, as well as, where applicable,

caps on Level 2 assets and cash inflows. Calculated based on an average of 62 data points in the first quarter of 2026 and 64 data points in the fourth quarter of 2025. For the prior-quarter data points, refer to the

respective Pillar 3 Report, available under “Pillar 3 disclosures” at ubs.com/investors, for more information. 9 In accordance with Art. 17h para. 3 and 4 of the Liquidity Ordinance, UBS AG standalone is required to

maintain a minimum NSFR of at least 80% without taking into account excess funding of UBS Switzerland AG and 100% after taking into account such excess funding.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS AG standalone 22

Swiss systemically relevant bank going and gone concern requirements and information

The tables below provide details of the Swiss systemically relevant bank RWA- and LRD-based going and gone concern

requirements and information as required by FINMA; details regarding eligible gone concern instruments are also provided

below.

UBS AG standalone is subject to a gone concern capital requirement based on the sum of: (i) the nominal value of the

gone concern instruments issued by UBS entities and held by the parent firm; (ii) 75% of the going concern capital

requirements resulting from third-party exposure on a standalone basis; and (iii) a buffer requirement equal to 30% of

the Group’s gone concern capital requirement on UBS AG’s consolidated exposure. The gone concern capital requirement

is the higher of the RWA- and LRD-based requirements, calculated separately. The gone concern capital coverage ratio

reflects how much gone concern capital is available to meet the gone concern requirement. Outstanding total loss-

absorbing capacity-eligible unsecured debt instruments are eligible to meet gone concern requirements until one year

before maturity.

More information about the going and gone concern requirements is provided in the “UBS AG standalone” section of

the 31 December 2025 Pillar 3 Report, available under “Pillar 3 disclosures” at

ubs.com/investors.

Swiss SRB going and gone concern requirements and information

As of 31.3.26

RWA, phase-in

RWA, fully applied as of 1.1.28

1

LRD

USD m, except where indicated

in %

in %

in %

Required going concern capital

Total going concern capital

14.85

2

75,432

14.84

2

78,453

5.09

2

47,178

Common equity tier 1 capital

10.49

3

53,280

10.48

3

55,413

3.59

33,265

of which: minimum capital

4.50

22,862

4.50

23,792

1.50

13,913

of which: buffer capital

5.72

29,040

5.72

30,221

2.08

19,246

of which: countercyclical buffer

0.11

543

0.11

565

Maximum additional tier 1 capital

4.36

3

22,152

4.36

3

23,041

1.50

13,913

of which: additional tier 1 capital

3.50

17,782

3.50

18,505

1.50

13,913

of which: additional tier 1 buffer capital

0.80

4,064

0.80

4,230

Eligible going concern capital

Total going concern capital

19.04

96,741

18.30

96,741

10.43

96,741

Common equity tier 1 capital

14.46

73,478

13.90

73,478

7.92

73,478

Total loss-absorbing additional tier 1 capital

4.58

4

23,262

4.40

23,262

2.51

23,262

of which: high-trigger loss-absorbing additional tier 1 capital

4.58

23,262

4.40

23,262

2.51

23,262

Risk-weighted assets / leverage ratio denominator

Risk-weighted assets

508,053

528,712

Leverage ratio denominator

927,504

Required gone concern capital

5

Higher of RWA- or LRD-based

Total gone concern loss-absorbing capacity

79,095

Eligible gone concern capital

Total gone concern loss-absorbing capacity

6

96,717

TLAC-eligible unsecured debt

96,707

Gone concern capital coverage ratio

122.28

1 Fully applied relates to participation RWA. Direct and indirect investments including holding of regulatory capital instruments in Switzerland-domiciled subsidiaries and for direct and indirect investments including

holding of regulatory capital instruments in foreign-domiciled subsidiaries are risk weighted at 240% and 360%, respectively, for the current year. As per current rules, risk weights will gradually increase by 5 percentage

points per year for Switzerland-domiciled investments and 20 percentage points per year for foreign-domiciled investments until the fully applied risk weights of 250% and 400%, respectively, are applied. 2 Includes

applicable add-ons of 1.88% for risk-weighted assets (RWA, phase-in), 1.87% for risk-weighted assets (RWA, fully applied) and 0.59% for leverage ratio denominator (LRD), of which 2 basis points for RWA phase-

in, 2 basis points for RWA fully applied and 1 basis point for LRD reflect a Pillar 2 capital add-on of USD 107m related to the supply chain finance funds matter at Credit Suisse. An additional 20 basis points for RWA

phase-in and 20 basis points for RWA fully applied reflect a Pillar 2 capital add-on for the residual exposure (after collateral mitigation) to hedge funds, private equity and family offices, effective 1 January 2025.

3 Includes the Pillar 2 add-on for the residual exposure (after collateral mitigation) to hedge funds, private equity and family offices of 0.14% for CET1 capital and 0.06% for AT1 capital for RWA phase-in and 0.14%

for CET1 capital and 0.06% for AT1 capital for RWA fully applied, effective 1 January 2025. For AT1 capital under Pillar 1 requirements a maximum of 4.3% of AT1 capital can be used to meet going concern

requirements; 4.36% for RWA phase-in and 4.36% for RWA fully applied include the aforementioned Pillar 2 capital add-on. 4 UBS fulfills its minimum going concern capital requirements with CET1 capital and

AT1 capital. The actual available and eligible AT1 capital is above the AT1 capital used to meet the minimum requirements (which is capped at 4.36% as explained in footnote 3) as UBS exceeds its minimum going

concern requirements . 5 A maximum of 25% of the gone concern requirements can be met with instruments that have a remaining maturity of between one and two years. Once at least 75% of the minimum gone

concern requirement has been met with instruments that have a remaining maturity of greater than two years, all instruments that have a remaining maturity of between one and two years remain eligible to be

included in the total gone concern capital. 6 Includes an add-back of 45% of unrealized gains from financial assets measured at fair value through other comprehensive income. Such gains do not qualify as CET1

capital, but 45% of these gains can be recognized as gone concern capital.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS AG standalone 23

Swiss SRB going and gone concern information

USD m, except where indicated

31.3.26

31.12.25

Eligible going concern capital

Total going concern capital

96,741

93,707

Total tier 1 capital

96,741

93,707

Common equity tier 1 capital

73,478

74,108

Total loss-absorbing additional tier 1 capital

23,262

19,600

of which: high-trigger loss-absorbing additional tier 1 capital

23,262

19,600

Eligible gone concern capital

Total gone concern loss-absorbing capacity

1

96,717

90,163

TLAC-eligible unsecured debt

96,707

90,139

Total loss-absorbing capacity

Total loss-absorbing capacity

193,458

183,870

Denominators for going and gone concern ratios

Risk-weighted assets, phase-in

508,053

491,583

of which: investments in Switzerland-domiciled subsidiaries

2

94,561

91,598

of which: investments in foreign-domiciled subsidiaries

2

150,476

144,200

Risk-weighted assets, fully applied as of 1.1.28

528,712

522,876

of which: investments in Switzerland-domiciled subsidiaries

2

98,501

97,444

of which: investments in foreign-domiciled subsidiaries

2

167,196

169,647

Leverage ratio denominator

927,504

929,979

Capital and loss-absorbing capacity ratios (%)

Going concern capital ratio, phase-in

19.0

19.1

of which: common equity tier 1 capital ratio, phase-in

14.5

15.1

Going concern capital ratio, fully applied as of 1.1.28

18.3

17.9

of which: common equity tier 1 capital ratio, fully applied as of 1.1.28

13.9

14.2

Leverage ratios (%)

Going concern leverage ratio

10.4

10.1

of which: common equity tier 1 leverage ratio

7.9

8.0

Capital coverage ratio (%)

Gone concern capital coverage ratio

122.3

115.4

1 Includes an add-back of 45% of unrealized gains from financial assets measured at fair value through other comprehensive income. Such gains do not qualify as CET1 capital, but 45% of these gains can be

recognized as gone concern capital. 2 Fully applied relates to participation RWA. Direct and indirect investments including holding of regulatory capital instruments in Switzerland-domiciled subsidiaries and for direct

and indirect investments including holding of regulatory capital instruments in foreign-domiciled subsidiaries are risk weighted at 240% and 360%, respectively, for the current year. As per current rules, risk weights

will gradually increase by 5 percentage points per year for Switzerland-domiciled investments and 20 percentage points per year for foreign-domiciled investments until the fully applied risk weights of 250% and

400%, respectively, are applied.

UBS Switzerland AG standalone

Key metrics for the first quarter of 2026

The table below is based on the Swiss Financial Market Supervisory Authority (FINMA) Ordinance on the Disclosure

Obligations of Banks and Securities Firms (DisO-FINMA) rules and IFRS Accounting Standards.

During the first quarter of 2026, common equity tier 1 capital increased by CHF 0.2bn to CHF 21.4bn, mainly driven by

operating profit, largely offset by additional dividend accruals.

Total risk-weighted assets (RWA) increased by CHF 7.7bn to CHF 171.8bn, mainly driven by an increase in credit risk and

operational risk RWA.

The leverage ratio denominator (the LRD) increased by CHF 26.1bn to CHF 564.4bn, primarily reflecting higher lending

exposures and higher cash and balances at central banks, as well as an increase in derivative exposures. This was partly

offset by lower off-balance-sheet exposures and securities financing transactions.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS Switzerland AG standalone 24

The quarterly average liquidity coverage ratio (the LCR) of UBS Switzerland AG decreased 1.0 percentage point to

131.0%,

remaining

above the prudential requirement communicated by FINMA. The movement in the quarterly average

LCR was primarily driven by a CHF 4.7bn decrease in average high-quality liquid assets to CHF 110.5bn,

mainly

reflecting

lower cash available from higher lending assets and lower funding from UBS AG, partly offset by higher cash

available from an increase in customer deposits. Average net cash outflows decreased by CHF 2.9bn to

CHF 84.4bn,

mainly due to

lower

net outflows from intercompany

funding from UBS AG, partly offset by an increase in

customer deposits.

As of 31 March 2026, the net stable funding ratio decreased 0.9 percentage points to 124.3%, remaining above the

prudential requirement communicated by FINMA. Available stable funding increased by CHF 10.8bn to CHF 367.8bn,

mainly driven by increases in customer deposits, covered bonds issued and regulatory capital. Required stable funding

increased by CHF 10.9bn to CHF 295.9bn, primarily reflecting higher lending assets and higher derivatives and cash

collateral receivables on derivative instruments.

KM1: Key metrics

CHF m, except where indicated

31.3.26

31.12.25

30.9.25

30.6.25

31.3.25

Available capital (amounts)

1

Common Equity Tier 1 (CET1)

21,393

21,188

21,527

21,470

21,596

2

Tier 1

29,887

29,182

29,520

29,463

29,590

3

Total capital

29,887

29,182

29,520

29,463

29,590

Risk-weighted assets (amounts)

4

Total risk-weighted assets (RWA)

171,755

164,062

168,223

168,701

174,610

4a

Total risk-weighted assets (pre-floor)

164,327

152,624

154,370

151,470

153,743

4b

Minimum capital requirement

1

13,740

13,125

13,458

13,496

13,969

Risk-based capital ratios as a percentage of RWA

5

Common equity tier 1 ratio (%)

12.46

12.91

12.80

12.73

12.37

5b

Common equity tier 1 ratio (%) (pre-floor)

13.02

13.88

13.95

14.17

14.05

6

Tier 1 ratio (%)

17.40

17.79

17.55

17.46

16.95

6b

Tier 1 ratio (%) (pre-floor)

18.19

19.12

19.12

19.45

19.25

7

Total capital ratio (%)

17.40

17.79

17.55

17.46

16.95

7b

Total capital ratio (%) (pre-floor)

18.19

19.12

19.12

19.45

19.25

Additional CET1 buffer requirements as a percentage of RWA

8

Capital conservation buffer requirement (%)

2.50

2.50

2.50

2.50

2.50

9

Countercyclical buffer requirement (%)

0.05

0.05

0.06

0.07

0.06

9a

Additional countercyclical buffer for Swiss mortgage loans (%)

0.80

0.91

0.82

0.83

0.80

10

Bank G-SIB and / or D-SIB additional requirements (%)

11

Total of bank CET1 specific buffer requirements (%)

2

2.55

2.55

2.56

2.57

2.56

12

CET1 available after meeting the bank’s minimum capital requirements (%)

3

7.96

8.41

8.30

8.23

7.87

Basel III leverage ratio

13

Total Basel III leverage ratio exposure measure

564,403

538,262

547,805

549,690

551,716

14

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves)

4

5.30

5.42

5.39

5.36

5.36

14b

Basel III leverage ratio (%) (excluding the impact of any applicable temporary

exemption of central bank reserves)

5.30

5.42

5.39

5.36

5.36

14c

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves) incorporating mean values for SFT assets

4

5.29

5.41

5.39

5.34

5.34

14d

Basel III leverage ratio (%) (excluding the impact of any applicable temporary

exemption of central bank reserves) incorporating mean values for SFT assets

5.29

5.41

5.39

5.34

5.34

14e

Minimum capital requirements

5

16,932

16,148

16,434

16,491

16,551

Liquidity coverage ratio (LCR)

6

15

Total high-quality liquid assets (HQLA)

110,485

115,181

116,430

111,945

111,231

16

Total net cash outflow

84,375

87,315

83,009

81,142

81,164

16a

of which: cash outflows

118,652

119,321

113,942

110,217

110,357

16b

of which: cash inflows

34,277

32,006

30,933

29,074

29,193

17

LCR (%)

130.97

132.00

140.37

138.05

137.08

Net stable funding ratio (NSFR)

7

18

Total available stable funding

367,805

356,977

351,349

354,633

355,035

19

Total required stable funding

295,923

285,045

278,806

275,862

276,279

20

NSFR (%)

124.29

125.24

126.02

128.55

128.51

1 Calculated as 8% of total RWA, based on total capital minimum requirements, excluding CET1 buffer requirements. 2 Excludes non-BCBS capital buffer requirements for risk-weighted positions that are directly

or indirectly backed by residential properties in Switzerland. 3 Represents the CET1 ratio that is available to meet buffer requirements. Calculated as the CET1 ratio minus the BCBS CET1 capital requirement and,

where applicable, minus the BCBS tier 2 capital requirement met with CET1 capital. 4 There is currently no temporary exemption of central bank reserves for UBS. 5 The higher of capital requirements based on

8% of RWA or 3% of LRD. 6 Calculated after the application of haircuts and inflow and outflow rates, as well as, where applicable, caps on Level 2 assets and cash inflows. Calculated based on an average of

62 data points in the first quarter of 2026 and 64 data points in the fourth quarter of 2025. For the prior-quarter data points, refer to the respective Pillar 3 Report, available under “Pillar 3 disclosures” at

ubs.com/investors, for more information. 7 UBS Switzerland AG is required to maintain a minimum NSFR of at least 100% on an ongoing basis, as set out in Art. 17h para. 1 of the Liquidity Ordinance. A portion

of the excess funding is used to fulfill the NSFR requirement of UBS AG standalone.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS Switzerland AG standalone 25

Swiss systemically relevant bank going and gone concern requirements and information

The tables below provide details of the Swiss systemically relevant bank (SRB) RWA- and LRD-based going and gone

concern requirements and information as required by FINMA; details regarding eligible gone concern instruments are

also provided below.

UBS Switzerland AG is considered an SRB under Swiss banking law and is subject to capital regulations on a standalone

basis. As of 31 March 2026, the going concern capital and leverage ratio requirements for UBS Switzerland AG

standalone were 15.36% (including a countercyclical buffer of 0.85%) and 5.08%, respectively.

The Swiss SRB framework and going concern requirements applicable to UBS Switzerland AG standalone are the same

as those applicable to UBS Group AG consolidated. The gone concern requirement corresponds to 62% of the Group’s

going concern requirements, excluding the countercyclical buffer requirements and Pillar 2 add-ons. Outstanding total

loss-absorbing capacity-eligible unsecured debt instruments are eligible to meet gone concern requirements until one

year before maturity.

The gone concern requirements were 9.00% for the RWA-based requirement and 3.15% for the LRD-based requirement.

›

Refer to “Capital and capital ratios of our significant regulated subsidiaries” in the “Capital management” section of the UBS

Group Annual Report 2025, available under “Annual reporting” at

ubs.com/investors

, for more information about the joint

liability of UBS AG and UBS Switzerland AG

Swiss SRB going and gone concern requirements and information

As of 31.3.26

RWA

LRD

CHF m, except where indicated

in %

in %

Required going concern capital

Total going concern capital

15.36

1

26,385

5.08

1

28,643

Common equity tier 1 capital

11.06

19,000

3.58

20,177

of which: minimum capital

4.50

7,729

1.50

8,466

of which: buffer capital

5.72

9,817

2.08

11,711

of which: countercyclical buffer

0.85

1,454

Maximum additional tier 1 capital

4.30

7,385

1.50

8,466

of which: additional tier 1 capital

3.50

6,011

1.50

8,466

of which: additional tier 1 buffer capital

0.80

1,374

Eligible going concern capital

Total going concern capital

17.40

29,887

5.30

29,887

Common equity tier 1 capital

12.46

21,393

3.79

21,393

Total loss-absorbing additional tier 1 capital

4.95

2

8,494

1.50

8,494

of which: high-trigger loss-absorbing additional tier 1 capital

4.95

8,494

1.50

8,494

Required gone concern capital

3

Total gone concern loss-absorbing capacity

9.00

15,458

3.15

17,759

of which: base requirement including add-ons for market share and LRD

9.00

4

15,458

3.15

4

17,759

Eligible gone concern capital

Total gone concern loss-absorbing capacity

11.33

19,455

3.45

19,455

TLAC-eligible unsecured debt

11.33

19,455

3.45

19,455

Total loss-absorbing capacity

Required total loss-absorbing capacity

24.36

41,843

8.22

46,402

Eligible total loss-absorbing capacity

28.73

49,342

8.74

49,342

Risk-weighted assets / leverage ratio denominator

Risk-weighted assets

171,755

Leverage ratio denominator

564,403

1 Includes applicable add-ons of 1.66% for risk-weighted assets (RWA) and 0.58% for leverage ratio denominator (LRD). 2 UBS fulfills its minimum going concern capital requirements with CET1 capital and AT1

capital. The actual available and eligible AT1 capital is above the AT1 capital used to meet the minimum requirements (which is capped at 4.3%) as UBS exceeds its minimum going concern requirements. 3 A

maximum of 25% of the gone concern requirements can be met with instruments that have a remaining maturity of between one and two years. Once at least 75% of the minimum gone concern requirement has

been met with instruments that have a remaining maturity of greater than two years, all instruments that have a remaining maturity of between one and two years remain eligible to be included in the total gone

concern capital. 4 Includes applicable add-ons of 1.03% for RWA and 0.36% for LRD.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS Switzerland AG standalone 26

Swiss SRB going and gone concern information

CHF m, except where indicated

31.3.26

31.12.25

Eligible going concern capital

Total going concern capital

29,887

29,182

Total tier 1 capital

29,887

29,182

Common equity tier 1 capital

21,393

21,188

Total loss-absorbing additional tier 1 capital

8,494

7,994

of which: high-trigger loss-absorbing additional tier 1 capital

8,494

7,994

Eligible gone concern capital

Total gone concern loss-absorbing capacity

19,455

19,147

TLAC-eligible unsecured debt

19,455

19,147

Total loss-absorbing capacity

Total loss-absorbing capacity

49,342

48,329

Risk-weighted assets / leverage ratio denominator

Risk-weighted assets

171,755

164,062

Leverage ratio denominator

564,403

538,262

Capital and loss-absorbing capacity ratios (%)

Going concern capital ratio

17.4

17.8

of which: common equity tier 1 capital ratio

12.5

12.9

Gone concern loss-absorbing capacity ratio

11.3

11.7

Total loss-absorbing capacity ratio

28.7

29.5

Leverage ratios (%)

Going concern leverage ratio

5.3

5.4

of which: common equity tier 1 leverage ratio

3.8

3.9

Gone concern leverage ratio

3.4

3.6

Total loss-absorbing capacity leverage ratio

8.7

9.0

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS Europe SE consolidated 27

UBS Europe SE consolidated

Key metrics for the first quarter of 2026

The table below provides information about the regulatory capital components, capital ratios, leverage ratio and liquidity

of UBS Europe SE consolidated based on Basel Committee on Banking Supervision (BCBS) Pillar 1 requirements and in

accordance with EU regulatory rules and IFRS Accounting Standards.

During the first quarter of 2026, available capital remained stable and risk-weighted assets increased slightly, to

EUR 16.4bn, mainly driven by higher exposures in cash and securities financing transactions (SFTs), and new over-the-

counter derivative exposures, partly offset by a decrease in loan facilities. The leverage ratio exposure increased by

EUR 8.0bn to EUR 63.9bn, mainly driven by increases in cyclical trading volume, derivatives, SFTs and other assets,

including multiple drivers, such as cash at central banks.

The average liquidity coverage ratio (the LCR) remained well above the regulatory requirement of 100%, at 137.5%. The

decrease in the LCR was driven by an increase of EUR 0.7bn in total net cash outflows, partly offset by an increase of

EUR 0.3bn in high-quality liquid assets (HQLA). Higher HQLA and net outflows were mainly due to an increase in UBS

Group euro-clearing activities. The net stable funding ratio (the NSFR) remained well above the regulatory requirements

of 100%, at 135.2%. The decrease in the NSFR was due to a EUR 0.7bn increase in required stable funding, reflecting

higher client-driven activity levels in the Investment Bank, including positive replacement values related to the growth in

the Asian market. This was partly offset by a EUR 0.6bn increase in available stable funding, driven by higher

intercompany funding.

KM1: Key metrics

1,2

EUR m, except where indicated

31.3.26

31.12.25

30.9.25

30.6.25

31.3.25

Available capital (amounts)

1

Common Equity Tier 1 (CET1)

3,097

3,109

2,973

2,995

3,424

2

Tier 1

3,697

3,709

3,573

3,595

4,024

3

Total capital

3,697

3,709

3,573

3,595

4,024

Risk-weighted assets (amounts)

4

Total risk-weighted assets (RWA)

16,448

15,926

15,917

14,625

14,387

4a

Total risk-weighted assets (RWA) (pre-floor)

16,448

15,926

15,917

14,625

14,387

4b

Minimum capital requirement

3

1,316

1,274

1,273

1,170

1,151

Risk-based capital ratios as a percentage of RWA

5

CET1 ratio (%)

18.8

19.5

18.7

20.5

23.8

5b

CET1 ratio (%) (pre-floor)

18.8

19.5

18.7

20.5

23.8

6

Tier 1 ratio (%)

22.5

23.3

22.4

24.6

28.0

6b

Tier 1 ratio (%) (pre-floor)

22.5

23.3

22.4

24.6

28.0

7

Total capital ratio (%)

22.5

23.3

22.4

24.6

28.0

7b

Total capital ratio (%) (pre-floor)

22.5

23.3

22.4

24.6

28.0

Additional CET1 buffer requirements as a percentage of RWA

8

Capital conservation buffer requirement (%)

2.5

2.5

2.5

2.5

2.5

9

Countercyclical buffer requirement (%)

0.7

0.7

0.7

0.7

0.7

10

Bank G-SIB and / or D-SIB additional requirements (%)

11

Total of bank CET1 specific buffer requirements (%)

3.2

3.2

3.2

3.2

3.2

12

CET1 available after meeting the bank’s minimum capital requirements (%)

4

14.3

15.0

14.2

16.0

19.3

Basel III leverage ratio

13

Total Basel III leverage ratio exposure measure

63,909

55,952

55,681

61,706

55,615

14

Basel III leverage ratio (%) (including the impact of any applicable temporary

exemption of central bank reserves)

5,6

5.8

6.6

6.4

5.8

7.2

14b

Basel III leverage ratio (%) (excluding the impact of any applicable

temporary exemption of central bank reserves)

5.8

6.6

6.4

5.8

7.2

14e

Minimum capital requirements

7

1,917

1,679

1,670

1,851

1,668

Liquidity coverage ratio (LCR)

8

15

Total high-quality liquid assets (HQLA)

21,321

21,013

21,360

20,038

18,664

16

Total net cash outflow

15,539

14,883

15,155

14,469

13,355

17

LCR (%)

137.5

141.5

141.5

138.9

140.4

Net stable funding ratio (NSFR)

18

Total available stable funding

21,116

20,534

19,252

17,830

18,580

19

Total required stable funding

15,614

14,959

14,182

13,716

13,222

20

NSFR (%)

135.2

137.3

135.8

130.0

140.5

1 Based on applicable EU regulatory rules. 2 Row 9a of the FINMA template is applicable to the FINMA-regulated scope only and rows 14c and 14d have been removed because the EU does not require the disclosure

of mean values for SFTs. 3 Calculated as 8% of total RWA, based on total capital minimum requirements, excluding CET1 buffer requirements. 4 Represents the CET1 ratio that is available for meeting buffer

requirements. Calculated as the CET1 ratio minus the BCBS CET1 capital requirement and after considering, where applicable, CET1 capital that has been used to meet tier 1 and / or total capital ratio requirements

under Pillar 1. 5 Calculated on the basis of tier 1 capital. 6 There is currently no temporary exemption of central bank reserves for UBS Europe SE. 7 The higher of capital requirements based on 8% of RWA or

3% of LRD. 8 Figures are calculated based on a 12

‑

month average.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS Americas Holding LLC consolidated 28

UBS Americas Holding LLC consolidated

Key metrics for the first quarter of 2026

The table below is based on Basel Committee on Banking Supervision (BCBS) Pillar 1 requirements and in accordance

with US Basel III rules and generally accepted accounting principles in the US (US GAAP).

Effective 1 October 2025 until 2027, UBS Americas Holding LLC is subject to a stress capital buffer (an SCB) of 5.2%, in

addition to the minimum risk-based capital requirements. The SCB, subject to a floor of 2.5%, was determined by the

Federal Reserve Board following the completion of the 2025 Comprehensive Capital Analysis and Review (the CCAR)

based on Dodd–Frank Act Stress Test (DFAST) results and planned future dividends.

During the first quarter of 2026, the common equity tier 1 (CET1) capital ratio increased 0.1 percentage points to 18.2%

and the tier 1 capital ratio increased 0.1 percentage points to 21.9%. Both CET1 capital and tier 1 capital increased by

USD 0.3bn, driven primarily by net profit. Risk-weighted assets (RWA) increased by USD 1.4bn to USD 77.1bn, driven by

a USD 1.8bn increase in credit risk RWA, mainly in derivatives, loans and securities financing transactions, partly offset by

a USD 0.4bn decrease in market risk specific risk exposure.

The tier 1 leverage ratio increased 0.1 percentage points to 8.4%, primarily driven by the aforementioned capital

movements, partly offset by a USD 1.8bn increase in leverage exposure. Similarly, the tier 1 supplementary leverage ratio

(the SLR) increased 0.3 percentage points to 7.4%, primarily driven by the aforementioned capital movements and a

USD 4.9bn decrease in the SLR exposure, mainly in margin receivables.

The average liquidity coverage ratio decreased 6.5 percentage points to 120.9%, as high-quality liquid assets increased

by USD 0.8bn and net cash outflow increased by USD 1.8bn. The average net stable funding ratio decreased

0.9 percentage points to 126.4% in the first quarter of 2026, driven by a USD 0.6bn increase in required stable funding,

primarily as there was an increase in required operational balances and the exchange-traded derivatives initial margin.

31 March 2026 Pillar 3 Report |

Significant regulated subsidiaries and sub-groups | UBS Americas Holding LLC consolidated 29

KM1: Key metrics

1

USD m, except where indicated

31.3.26

31.12.25

30.9.25

30.6.25

31.3.25

Available capital (amounts)

1

Common Equity Tier 1 (CET1)

14,021

13,696

17,161

16,152

16,236

2

Tier 1

16,855

16,521

19,984

18,974

19,053

3

Total capital

17,064

16,723

20,185

19,164

19,258

Risk-weighted assets (amounts)

4

Total risk-weighted assets (RWA)

77,052

75,654

81,477

77,244

78,830

4b

Minimum capital requirement

2

6,164

6,052

6,518

6,180

6,306

Risk-based capital ratios as a percentage of RWA

5

CET1 ratio (%)

18.2

18.1

21.1

20.9

20.6

6

Tier 1 ratio (%)

21.9

21.8

24.5

24.6

24.2

7

Total capital ratio (%)

22.1

22.1

24.8

24.8

24.4

Additional CET1 buffer requirements as a percentage of RWA

8

BCBS capital conservation buffer requirement (%)

2.5

2.5

2.5

2.5

2.5

8a

US stress capital buffer requirement (%)

5.2

5.2

9.3

9.3

9.3

9

Countercyclical buffer requirement (%)

10

Bank G-SIB and / or D-SIB additional requirements (%)

11

BCBS total of bank CET1 specific buffer requirements (%)

2.5

2.5

2.5

2.5

2.5

11a

US total bank specific capital buffer requirements (%)

5.2

5.2

9.3

9.3

9.3

12

CET1 available after meeting the bank’s minimum capital requirements (%)

3

13.7

13.6

16.6

16.4

16.1

Basel III leverage ratio

13

Total Basel III leverage ratio exposure measure

4

199,896

198,104

195,030

199,196

204,960

14

Basel III leverage ratio (%)

5

8.4

8.3

10.2

9.5

9.3

14a

Total Basel III supplementary leverage ratio exposure measure

4

227,971

232,902

229,768

231,603

234,346

14b

Basel III supplementary leverage ratio (%)

5

7.4

7.1

8.7

8.2

8.1

Liquidity coverage ratio (LCR)

15

Total high-quality liquid assets (HQLA)

4

28,660

27,879

27,496

28,951

28,182

16

Total net cash outflow

4,6

23,710

21,883

21,365

22,639

21,213

17

LCR (%)

120.9

127.4

128.7

127.9

132.9

Net stable funding ratio (NSFR)

18

Total available stable funding

4

102,609

102,550

102,169

104,867

107,920

19

Total required stable funding

4,6

81,173

80,535

79,425

78,978

80,532

20

NSFR (%)

126.4

127.3

128.6

132.8

134.0

1 As the final Basel III standards have not been implemented in the US, rows that are not applicable have been removed from the FINMA template. 2 Calculated as 8% of total RWA, based on total minimum capital

requirements, excluding CET1 buffer requirements. 3 Represents the CET1 ratio that is available to meet buffer requirements. Calculated as the CET1 ratio minus the BCBS CET1 capital requirement and, where

applicable, minus the BCBS additional tier 1 and tier 2 capital requirements met with CET1 capital. 4 Figures are calculated on a quarterly average. 5 Calculated on the basis of tier 1 capital. 6 Reflected at 85%

of the full amount in accordance with the Federal Reserve tailoring rule.

31 March 2026 Pillar 3 Report |

Appendix 30

Appendix

Abbreviations frequently used in our financial reports

A

ABS asset-backed securities

AG Aktiengesellschaft

AGM Annual General Meeting of

shareholders

AI artificial intelligence

A-IRB advanced internal ratings-

based

ALCO Asset and Liability

Committee

AMA advanced measurement

approach

AML anti-money laundering

AoA Articles of Association

APM alternative performance

measure

ARR alternative reference rate

ARS auction rate securities

ASF available stable funding

AT1 additional tier 1

AuM assets under management

B

BCBS Basel Committee on

Banking Supervision

BIS Bank for International

Settlements

BoD Board of Directors

C

CAO Capital Adequacy

Ordinance

CCAR Comprehensive Capital

Analysis and Review

CCF credit conversion factor

CCP central counterparty

CCR counterparty credit risk

CCRC Corporate Culture and

Responsibility Committee

CDS credit default swap

CEO Chief Executive Officer

CET1 common equity tier 1

CFO Chief Financial Officer

CGU cash-generating unit

CHF Swiss franc

CIO Chief Investment Office

C&ORC Compliance & Operational

Risk Control

CRM credit risk mitigation

CRO Chief Risk Officer

CST combined stress test

CUSIP Committee on Uniform

Security Identification

Procedures

CVA credit valuation adjustment

D

DBO defined benefit obligation

DCCP Deferred Contingent

Capital Plan

DFAST Dodd–Frank Act Stress Test

DisO-FINMA FINMA Ordinance on the

Disclosure Obligations of

Banks and Securities Firms

DM discount margin

DOJ US Department of Justice

DTA deferred tax asset

DVA debit valuation adjustment

E

EAD exposure at default

EB Executive Board

EC European Commission

ECB European Central Bank

ECL expected credit loss

EGM Extraordinary General

Meeting of shareholders

EIR effective interest rate

EL expected loss

EMEA Europe, Middle East and

Africa

EOP Equity Ownership Plan

EPS earnings per share

ESG environmental, social and

governance

ETD exchange-traded derivatives

ETF exchange-traded fund

EU European Union

EUR euro

EURIBOR Euro Interbank Offered Rate

EVE economic value of equity

EY Ernst & Young Ltd

F

FCA UK Financial Conduct

Authority

FDIC Federal Deposit Insurance

Corporation

FINMA Swiss Financial Market

Supervisory Authority

FMIA Swiss Financial Market

Infrastructure Act

FRTB Fundamental Review of the

Trading Book

FSB Financial Stability Board

FTA Swiss Federal Tax

Administration

FVA funding valuation

adjustment

FVOCI fair value through other

comprehensive income

FVTPL fair value through profit or

loss

FX foreign exchange

G

GAAP generally accepted

accounting principles

GBP pound sterling

GCRG Group Compliance,

Regulatory and Governance

GDP gross domestic product

GEB Group Executive Board

GHG greenhouse gas

GIA Group Internal Audit

GRI Global Reporting Initiative

G-SIB global systemically

important bank

H

HQLA

high-quality liquid assets

I

IA Internal Audit

IAS International Accounting

Standards

IASB International Accounting

Standards Board

IBOR interbank offered rate

IFRIC International Financial

Reporting Interpretations

Committee

IFRS accounting standards

Accounting issued by the IASB

Standards

IRB internal ratings-based

IRRBB interest rate risk in the

banking book

ISDA International Swaps and

Derivatives Association

ISIN International Securities

Identification Number

31 March 2026 Pillar 3 Report |

Appendix 31

Abbreviations frequently used in our financial reports (continued)

K

KRT Key Risk Taker

L

LAS liquidity-adjusted stress

LCR liquidity coverage ratio

LGD loss given default

LIBOR London Interbank Offered

Rate

LLC limited liability company

LoD lines of defense

LRD leverage ratio denominator

LTIP Long-Term Incentive Plan

LTV loan-to-value

M

M&A mergers and acquisitions

MRT Material Risk Taker

N

NII net interest income

NSFR net stable funding ratio

NYSE New York Stock Exchange

O

OCA own credit adjustment

OCI other comprehensive

income

OECD Organisation for Economic

Co-operation and

Development

OTC over-the-counter

P

PCI purchased credit impaired

PD probability of default

PIT point in time

PPA purchase price allocation

Q

QCCP qualifying central

counterparty

R

RBC risk-based capital

RbM risk-based monitoring

REIT real estate investment trust

RMBS residential mortgage-

backed securities

RniV risks not in VaR

RoCET1 return on CET1 capital

RoU right-of-use

rTSR relative total shareholder

return

RWA risk-weighted assets

S

SA standardized approach or

société anonyme

SA-CCR standardized approach for

counterparty credit risk

SAR Special Administrative

Region of the People’s

Republic of China

SDG Sustainable Development

Goal

SEC US Securities and Exchange

Commission

SFT securities financing

transaction

SIBOR Singapore Interbank

Offered Rate

SICR significant increase in credit

risk

SIX SIX Swiss Exchange

SME small and medium-sized

entities

SMF Senior Management

Function

SNB Swiss National Bank

SOR Singapore Swap Offer Rate

SPPI solely payments of principal

and interest

SRB systemically relevant bank

SVaR stressed value-at-risk

T

TBTF too big to fail

TCFD Task Force on Climate-

related Financial Disclosures

TIBOR Tokyo Interbank Offered

Rate

TLAC total loss-absorbing capacity

TTC through the cycle

U

USD US dollar

V

VaR value-at-risk

VAT

value added tax

This is a general list of the abbreviations frequently used in our financial reporting. Not all of the listed abbreviations may

appear in this particular report.

31 March 2026 Pillar 3 Report |

Appendix 32

Cautionary statement |

This report and the information contained herein are provided solely for information purposes, and are not to be construed as solicitation

of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating

to securities of or relating to UBS Group AG, UBS AG or their affiliates should be made on the basis of this report. Refer to UBS’s most recent annual report on

Form 20-

F,

quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission (the SEC) on Form 6-K, available at

ubs.com/investors

, for additional information.

Rounding |

Numbers presented throughout this report may not add up precisely to the totals provided in the tables and text. Percentages and percent changes

disclosed in text and tables are calculated on the basis of unrounded figures. Absolute changes between reporting periods disclosed in the text, which can be

derived from numbers presented in related tables, are calculated on a rounded basis.

Tables |

Within tables, blank fields generally indicate non-applicability or that presentation of any content would not be meaningful, or that information is not

available as of the relevant date or for the relevant period. Zero values generally indicate that the respective figure is zero on an actual or rounded basis. Values

that are zero on a rounded basis can be either negative or positive on an actual basis.

Websites |

In this report, any website addresses are provided solely for information and are not intended to be active links. UBS does not incorporate the contents

of any such websites into this report.

UBS Group AG

P.O. Box

CH-8098 Zurich

ubs.com

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this

report to be signed on their behalf by the undersigned, thereunto duly authorized.

UBS Group AG

By: /s/ David Kelly

Name: David Kelly

Title: Managing Director

By: /s/ Ella Copetti-Campi

Name: Ella Copetti-Campi

Title: Executive Director

UBS AG

By: /s/ David Kelly

Name: David Kelly

Title: Managing Director

By: /s/ Ella Copetti-Campi

Name: Ella Copetti-Campi

Title: Executive Director

Date: April 29, 2026

FAQ

How strong is UBS Group (AMUB) capital position as of 31 March 2026?

UBS shows a solid capital position, with common equity tier 1 (CET1) capital of USD 73.3bn and a CET1 ratio of 14.65%. Total tier 1 capital reached USD 97.0bn on risk‑weighted assets of USD 500.4bn, supporting strong loss‑absorbing capacity.

What additional capital could UBS Group (AMUB) need under Swiss proposals?

UBS estimates new Swiss rules on capitalized software, prudential valuation and foreign subsidiaries would require about USD 22bn extra CET1 at UBS AG standalone and reduce Group CET1 by roughly USD 4bn. Together with around USD 15bn from the Credit Suisse acquisition, total incremental CET1 demand is about USD 37bn.

How much total loss-absorbing capacity (TLAC) does UBS Group (AMUB) report?

UBS reports total loss‑absorbing capacity of USD 197.6bn at Group level. This includes CET1 and AT1 capital plus TLAC‑eligible senior unsecured debt, with TLAC equal to 39.48% of risk‑weighted assets and 11.95% of the leverage exposure measure.

What are UBS Group (AMUB) key leverage and liquidity metrics for Q1 2026?

UBS’s Basel III leverage ratio was 5.86% on a leverage exposure of USD 1,653.5bn. Liquidity remained robust, with an average liquidity coverage ratio of 177.8% and a net stable funding ratio of 116.9%, both above FINMA’s prudential thresholds.

How is UBS Group (AMUB) returning capital to shareholders in 2026?

Shareholders approved a cash dividend of USD 1.10 per share, paid in April 2026. UBS also repurchased USD 0.9bn of shares in the first quarter and targets USD 3bn of buybacks by end‑July 2026, with potential for more depending on capital and outlook.

How did UBS Group (AMUB) risk-weighted assets change in Q1 2026?

Risk‑weighted assets increased by USD 7.0bn to USD 500.4bn. The rise mainly reflected USD 7.8bn from asset size and other movements and USD 1.0bn from model updates and methodology changes, partly offset by a USD 1.9bn reduction from currency effects.