UBS ETRACS Alerian MLP Index ETN Series B SEC Filings

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector (NDXT), the Russell 2000® Index (RTY) and shares of the State Street® Energy Select Sector SPDR® ETF (XLE), due on or about May 25, 2029. The preliminary pricing supplement dated May 18, 2026 sets a per-Note issue price of $1,000.00 and discloses an estimated initial value range of $951.70 to $981.70. The Notes pay a contingent coupon only when all underlying assets meet coupon barriers on observation dates, are callable monthly at UBS’s discretion beginning after six months, and expose holders to downside principal loss tied to the least performing underlying asset and to UBS credit risk.

UBS AG is offering Capped Buffer Securities linked to the S&P 500® Index with a principal amount of $1,000 per Security and a term of approximately 18 months. The offering totals $1,032,000 and limits upside to a 15.65% maximum gain while providing a 10.00% downside buffer. At maturity holders receive either principal plus a capped positive return, full principal if the final level is at or above the 90.00% downside threshold, or a reduced payment that reflects losses beyond the buffer. Payments depend on UBS creditworthiness and the Securities are not listed on an exchange.

UBS AG offers $1,002,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the State Street ETFs XLF, XLI, and XLK, maturing May 18, 2029. The Notes pay a contingent coupon of 11.90% per annum on an observation date only if each underlying ETF closes at or above its coupon barrier on that date.

The Notes are callable monthly beginning after 12 months if each underlying ETF equals or exceeds its call threshold (each equal to 100% of its initial level). If not called, principal repayment at maturity is contingent: full principal is returned only if each final level is at or above its downside threshold (70% of initial); otherwise repayment equals $1,000 × (1 + underlying return of the least performing underlying asset), which can result in a significant loss or total loss of principal. All payments are subject to UBS credit risk and secondary market liquidity may be limited.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100® Technology Sector with maturity May 18, 2029. The offering totals $2,819,000 at an issue price of $1,000 per Note. Notes pay a contingent coupon of 10.00% per annum only when each underlying closes at or above its coupon barrier on an observation date; otherwise no coupon will be paid. UBS may call the Notes monthly beginning after three months; if called you receive principal plus any contingent coupon due on the call settlement date. If not called and the final level of any underlying is below its downside threshold (65% of initial level), principal repayment at maturity will be reduced pro rata to the percentage decline of the least performing underlying asset, potentially resulting in a total loss. The estimated initial value per Note was $974.10, and proceeds to UBS per Note are shown as $975.00. All payments are subject to UBS credit risk and secondary market liquidity may be limited.

UBS AG is offering $18,359,500 of Trigger Autocallable GEARS linked to Alphabet Inc. Class A common stock at $10 per Security. The trade date is May 15, 2026, observation date is May 24, 2027, and maturity is May 23, 2029. If the underlying closing level on the observation date is at or above the autocall barrier of $396.78 (100% of the initial level), UBS will automatically call the Securities and pay a 20.50% call return (call price $12.05 per Security). If not called, positive underlying returns are amplified by an upside gearing of 1.4725; negative final levels below the downside threshold of $297.59 (75.00% of initial) can cause losses of principal up to 100%. The estimated initial value determined by UBS’ internal models is $9.703 per Security. All payments, including any principal repayment, depend on UBS’s creditworthiness and market performance of the underlying asset.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, the Nasdaq-100 Technology Sector and the Russell 2000, due on or about June 1, 2029. The notes pay a contingent coupon only when each underlying asset meets its coupon barrier on observation dates; otherwise no coupon is paid. UBS may call the notes monthly beginning after six months; if called you receive principal plus any contingent coupon due on the call settlement date. If not called and any final level is below its downside threshold, principal repayment may be reduced proportionally to the loss of the least performing underlying asset, and you could lose all of your initial investment. The preliminary issue price is $1,000.00 per note; the estimated initial value is between $956.70 and $986.70 as of the trade date. The notes are unsecured obligations of UBS and subject to UBS credit risk. Review the Key Risks and Product Supplement for full details.

UBS AG is offering preliminary terms for Buffer Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500, with a contingent coupon rate of 12.45% per annum and a 15% buffer. The notes are callable monthly beginning after ~3 months and mature on or about May 26, 2027. Payments of contingent coupons occur only if each underlying meets its coupon barrier on an observation date; principal repayment at maturity is subject to the buffer and UBS credit risk. Issue price per Note is $1,000.00 with an underwriting discount of $6.50 per Note; estimated initial value range is $961.50–$991.50 as of the trade date. These are preliminary terms and the final terms will be set on the strike date and shown in the final pricing supplement.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Intuit Inc. due May 21, 2029. The Notes pay contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and may be automatically called early if the underlying meets or exceeds the initial level on any observation date. If not called and the final level is below the downside threshold, principal repayment at maturity is contingent and may result in a loss equal to the underlying return, including total loss in extreme cases. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk. The offering shows a principal amount per Note of $10 with an estimated initial value of $9.59 and illustrative contingent coupon rate of 18.09% per annum.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Intuit Inc. due on or about May 21, 2029. The notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates and are subject to an automatic call if the underlying equals or exceeds the initial level on an observation date prior to maturity. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold; a final level below that threshold produces a pro rata loss equal to the underlying return, and in extreme cases you could lose all of your investment. All payments are subject to UBS credit risk. Trade date is May 18, 2026, expected settlement May 20, 2026, final valuation date May 17, 2029, and maturity May 21, 2029. The notes are offered in minimum increments of 100 notes at $10 per note; the estimated initial value range is $9.28 to $9.53 per note as determined by UBS’ internal pricing models.