UBS AG - Listing of UBS Autocallable Note linked to the NKY, SMI, RTY and OMX Index

Listing of UBS Autocallable Note linked to the NKY, SMI, RTY and OMX Index

UBS AG, London Branch
("UBS AG" or the "Company")
(Incorporated and domiciled in Switzerland)
(Registration number: CHE-101.329.561)

Listing of UBS Autocallable Note linked to the NKY, SMI, RTY and OMX Index
due 2031 – Series 15.

The JSE Limited has granted UBS approval for the listing of the Autocallable
Note linked to the NKY, SMI, RTY and OMX Index due 23 June 2031.

An autocallable is a structured product which pays investors return payments,
subject to an underlying reference asset(s) being at or above a specified
level. The products have a fixed maximum tenor; however, the tenor may be
shorter if the product is called. The product has set observation dates on
which the return payments could be made, and the product can be called early.
The return paid by the product is financed by a short position in a put
option. The put option has a tenor that matches the maximum tenor of the
product.

The Notes are a notional rand denominated structured product referencing
South African stocks. This product offers a return if on any Observation
Date all Underlyings close at or above the Contingent Coupon Level. In this
case, the investor will receive a fixed payment for every observation period
that has passed since inception. The product also allows for early redemption
before expiry, with the investor receiving back their invested capital on
top of the relevant return for the relevant period if all Underlyings close
at or above a specific Mandatory Early Termination Level on any Early
Termination Observation Date.

If no autocall event occurs, the investor will receive 100% of the Nominal
on the Redemption Date provided none of the Knock-In Levels have been breached
on the Expiration Date or provided any Underlying closes at or above the One
Star Barrier Level on the Expiration Date.

If at least one of the Underlyings closes below its respective Knock-In Level
at expiry and none of the Underlyings closes at or above the One Star Barrier
level at expiry, the redemption value will reflect the performance of the
worst performing Underlying.

This listing is issued under the Information Memorandum of UBS AG. Trading
will commence on Monday, 07 July 2025.

INSTRUMENT NUMBER:           122113
ALPHA CODE:                  UBGPAJ
ISIN:                        ZAE000349247
ISSUE SIZE (UNITS):          100,000 (unit quotation)
ISSUE PRICE (RAND):          1,000 per Note

UNDERLYING STOCKS:           Nikkei 225 Index
                             (Bloomberg: NKY Index) (''Index1'')

                             Swiss Market Index
                             (Bloomberg: SMI Index) ''Index2'')

                             Russell 2000 Index
                             (Bloomberg: RTY Index) (''Index3'')

                             OMX Stockholm 30 Index
                             (Bloomberg: OMX Index) (''Index4'')
LISTING DATE:                 07 July 2025
EXPIRY DATE:                  23 June 2031

Underlyings and Levels (on Pricing Date in ZAc):
 Index      Initial Level      Contingent   Mandatory Early       Knock-In
                             Coupon Level        Termination         Level
                                                       Level
            Index Closing   85.00% of the    100.00% of the      65.00% of
                    Level   Index Closing     Index Closing      the Ubdex
                                    Level              Level       Closing
                                                                     Level
NKY   Index     38,354.0900    32,600.9765      38,354.0900    24,930.1585
SMI   Index     11,854.9600    10,076.7160      11,854.9600     7,705.7240
RTY   Index      2,132.6840     1,812.7814       2,132.6840     1,386.2446
OMX   Index      2,424.0390     2,060.4332       2,424.0390     1,575.6254

Observation Date(s):

n     Date
1     22 June 2026
2     21 June 2027
3     26 June 2028
4     25 June 2029
5     24 June 2030
6     23 June 2031

Early Termination Observation Date(s):

n     Date
1     22 June 2026
2     21 June 2027
3     26 June 2028
4     25 June 2029
5     24 June 2030

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

Johannesburg
04 July 2025

Sponsor: UBS South Africa (Pty) Limited

Date: 04-07-2025 03:00:00
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