Adjustment Event on UBS Certificates linked to the Absa Global Equity Multi-Factor Risk-Controlled (13%) ETN UBS AG, London Branch (“UBS AG” or the “Company”) (Incorporated and domiciled in Switzerland) (Registration number: CHE-101.329.561) Notification of an Adjustment Event on UBS Certificates linked to the Absa Global Equity Multi-Factor Risk-Controlled (13%) ETN (the "Notes")– Series 3. Certificateholders of UBS Certificates linked to the Absa Global Equity Multi-Factor Risk-Controlled (13%) ETN (the "Notes") are hereby advised of an adjustment event that may have an effect on the theoretical value of the notes. The amendment relates specifically to the replacement of interest rate used in the base calculation detailed in the termsheet and final terms of the abovementioned certificate. With immediate effect, the interest rate namely LIBOR (London Interbank Offered Rate) will be replaced by the SOFR (Secured Overnight Financing Rate). Recently supervisory guidance has been provided by regulators globally, including US, UK, Australia, and Hong Kong, that the ‘new use’ of USD LIBOR should stop from 1 January 2022 except for a very limited set of use cases. Furthermore, on 16 November 2021, FCA confirmed its rules under the UK Benchmarks Regulation that, after the end of 2021, will prohibit new use of the continuing overnight, 1-, 3-, 6- and 12-month USD LIBOR settings, in line with US guidance and existing FCA and PRA supervisory expectations. The FCA has also confirmed the exceptions to this prohibition are in line with these limited set of use cases. Regulators identify the new use of USD LIBOR referred to in agreements or transactions as that which (1) creates additional LIBOR exposure for a supervised institution; or (2) extends the term of an existing LIBOR contract. UBS supports the regulatory intent to transition the market away from USD LIBOR. Our preference is that any USD interest rate risk be transacted in SOFR going forward. Further information on the LIBOR transition and FAQs, please visit: https://www.ubs.com/global/en/investment-bank/libor- transition/overview.html INSTRUMENT NUMBER: 84424 ALPHA CODE: ABSGEA ISIN: ZAE000272753 ISSUE SIZE (UNITS): 2,000,000 ISSUE PRICE (RAND/ UNIT): 100.00 EXPIRY DATE: 11 June 2024 REFERENCE INDEX: MSCI World Diversified Multi-Factor USD Net Total Return Index (Bloomberg code: M1WODMF Index) The ETN references the Absa Global Equity Multi-Factor Risk-Controlled (13%) Strategy ("Strategy"). The Strategy utilises a methodology that encompasses two modern approaches of investment and risk management, namely risk-premia investing and volatility targeting. The ETN provides an investor access to a pay-off that aims to: 1) reduce downside risk through a volatility target mechanism and 2) gain multi-factor (value, momentum, quality, and size) global equity exposure via the reference index For further information kindly contact: UBS KeyInvest South Africa Tel.: +27 11 322 7129 / 7317 E-mail: keyinvestza@ubs.com Web: http://keyinvest-za.ubs.com/products Absa Index & Structured Solutions Tel: +27 86 134 5223 Email: aiss@absa.co.za Website: www.absa.co.za/ss Johannesburg 21 April 2022 Sponsor: UBS South Africa (Pty) Limited Date: 21-04-2022 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.