Ubs Group Ag · SIX:UBSG
Ubs — Shareholder Meeting (April 2024)
27 slides from Ubs's shareholder meeting presentation, April 2024
Slide 1: UBS 2024 Annual General Meeting
UBS 2024 Annual General Meeting Investor presentation Colm Kelleher Chairman of the Board of Directors This document should be read in conjunction with the UBS Group AG Annual Report 2023, including the UBS Group AG Compensation Report 2023 and the UBS Group AG Sustainability Report 2023 ubs.com/agm
Slide 2: Important information
Important information Forward Looking Statements: This presentation contains statements that constitute “Forward looking statements,” including but not limited to management’s outlook for UBS’s financial performance, statements relating to the anticipated effect of transactions and strategic initiat
Slide 3: Topics for discussion
Topics for discussion Ahead of the UBS Group AG AGM on 24 April 2024, we are looking forward to interactive discussions and feedback from investors on a range of proposed topics, including: 1. 2023 performance 2. Our strategy 3. The integration of Credit Suisse 4. Capital returns to shareholders 5.
Slide 4: 2023 performance
1 2023 performance Stabilized Credit Suisse franchise and delivered on 2023 financial priorities Franchise Funding cost Cost base Balance sheet Capital stabilization and efficiencies right-sizing optimization strength client win-back 77bn ~550m ~4bn (12bn) 14.4% Net new assets1,2, Gross funding cost
Slide 5: Attractive business model with unique global asset gathering businesses
2 Our strategy Attractive business model with unique global asset gathering businesses Revenue mix vs North American and European GSIBs UBS1 North American GSIB average2 European GSIB average 60% 26% 11% WM + AM WM + AM WM + AM Wealth and Asset Management Retail and Commercial Banking Investment Ban
Slide 6: Rebuilding profitability while restructuring for sustainable growth
The integration of 3 Credit Suisse Rebuilding profitability while restructuring for sustainable growth Group underlying return on CET1 capital Illustrative <70% underlying cost-income ratio ~18% ~15% Double digit Mid-to-high single digit Mid-single digit 3% 2H23 2024 2025 2026 2026 exit rate 2028, r
Slide 7: Proposed dividend of USD 0.70 for the financial year 2023
Capital returns to 4 shareholders Proposed dividend of USD 0.70 for the financial year 2023 Expecting total capital returns and share buybacks to exceed 2022 levels in 2026 Ordinary dividend per share (USD) Share buyback per share (USD)1 2023 capital returns − 0.70 dividend per share proposed3 for f
Slide 8: Returns to shareholders and performance award pool
Capital returns to 4 shareholders Returns to shareholders and performance award pool Shareholder returns Performance award pool o/w USD 0.7bn related to USDbn retention awards for CS 7.3 employees Performance award pool (14%) vs. 2022 (5.3bn1) on a pro-forma combined basis 4.3 4.5 3.4 3.7 3.5 3.3 3.
Slide 9: Say-on-pay: compensation-related agenda items – GEB compensation
Compensation-related 5 AGM agenda items Say-on-pay: compensation-related agenda items – GEB compensation Binding vote on GEB variable compensation Binding vote on GEB fixed compensation CHFm CHFm (6%) YoY on a per capita basis +34% 0% 108.3 33.0 33.0 81.1 2022 2023 2024 2025 approved budget proposed
Slide 10: Say-on-pay: compensation-related agenda items – BoD compensation
Compensation-related 5 AGM agenda items Say-on-pay: compensation-related agenda items – BoD compensation Binding vote on retroactive approval of an incremental amount of Binding vote on the maximum aggregate amount of compensation for the BoD compensation from the 2023 AGM to the 2024 AGM BoD from t
Slide 11: 2023 LTIP performance metrics adjusted to reflect the impact of the acquisition
Compensation-related 5 AGM agenda items 2023 LTIP performance metrics adjusted to reflect the impact of the acquisition Relative performance metric, relative Total Shareholder Return (rTSR), remains unchanged rTSR (weight: 50%) – The metric compares the total shareholder return (the TSR) of UBS with
Slide 12: Say-on-non-financial-reporting: Advisory vote on the UBS Sustainability Report
Advisory vote on the 6 Sustainability Report Say-on-non-financial-reporting: Advisory vote on the UBS Sustainability Report We have made significant progress in aligning our 2023 key highlights sustainability frameworks for the combined firm ✓ Fully integrated our performance evaluation and − 81% of
Slide 13: Elections to the Board of Directors
Other AGM items incl. 7 re-elections to the Board of Directors Elections to the Board of Directors Gail Kelly The Board of Directors proposes that Gail Kelly be elected as a member of the Board of Directors for a one-year term of office Gail Kelly (born 1956) brings more than 35 years of banking exp
Slide 14: Re-elections to the Board of Directors
Other AGM items incl. 7 re-elections to the Board of Directors Re-elections to the Board of Directors Re-elections of the members of the Board of Directors Re-elections of the members of the Compensation Committee – The Board of Directors proposes that Colm Kelleher, Lukas Gähwiler, Jeremy Anderson,
Slide 15: Motion to discharge the BoD and GEB for financial year 2023
Other AGM items incl. 7 re-elections to the Board of Directors Motion to discharge the BoD and GEB for financial year 2023 We request that discharge for the financial year 2023 be granted, including the French cross-border matter, but excluding all members of the Board of Directors and the Executive
Slide 16: Creation of conversion capital and amendments to the Articles of Association
Other AGM items incl. 7 re-elections to the Board of Directors Creation of conversion capital and amendments to the Articles of Association UBS Group AG capital development 2023-2026 We intend to meet increased going concern and TLAC requirements in part by bn, illustrative building-out AT1 capital
Slide 17: Appendix: Supporting materials
17 Appendix Supporting materials Appendix Supporting materials 16
Slide 18: FY23 underlying PBT of 4.0bn
FY23 underlying PBT of 4.0bn Profits1 FY231 m 2,280 Underlying 27,748 (508) 28,739 27,849 28.7bn 4.0bn (4,745) (873) PBT PBT, underlying 5,603 (4,536) 27.8bn 0.1bn Net profit Net profit, excluding (1,008) negative goodwill 8,500 3,963 (9,131) FY22 Revenues CLE Opex FY23 Negative Pull to par Losses I
Slide 19: Capital and leverage ratios
Capital and leverage ratios Total TLAC1 199bn 36.5% 11.8% 107bn HoldCo 19.6% 6.3% TLAC: 25.64% TLAC: 8.80% Total T1 capital1 92bn 14bn AT1 16.9% 2.5% 5.4% 0.8% Going concern: 14.92% Going concern: 5.05% CET1 capital ratio CET1 leverage ratio CET1: 10.62% CET1: 3.55% 78bn CET1 guidance: ~14% 14.4% 4.
Slide 20: Group CEOs performance assessment
Group CEOs performance assessment Refer to pages 245 and 246 of the 2023 Annual Report for the full details of the Group CEOs performance assessment 2023 Results Performance Weighted Weight Achievement1 2023 commentary measures UBS Group UBS sub-group assessment (underlying) (reported) Group Profit
Slide 21: Pay for performance
Pay for performance Profit before tax Return on CET1 capital1 Cost / income ratio USDbn in % in % +22.9 +15.1 +199% +25.3ppts ppts ppts 28.7 42.3 95.0 87.2 86.2 (59%) (12.8ppts) 72.1 9.6 17.0 4.0 4.5 7.6 4.2 2022 Group 2023 Group 2023 Group 2023 UBS 2022 Group 2023 Group 2023 Group 2023 UBS 2022 Gro
Slide 22: Compensation framework for the GEB is unchanged in 2024
Compensation framework for the GEB is unchanged in 2024 Illustrative example: GEB1 Key features − Notional additional tier 1 (AT1) instruments Deferred − Award vests in year 5 after grant year, subject to a write-down if a viability event occurs or the CET1 capital contingent ratio falls below 10% (
Slide 23: Performance achievement for the 2020 LTIP awarded in 2021
Performance achievement for the 2020 LTIP awarded in 2021 – We believe alignment of our senior leadership with our shareholders is important for long-term success. The achievement level of this 2020 LTIP award (granted in 2021) applies to 13 current GEB members and 68 other plan participants – Our L
Slide 24: Climate roadmap
Climate roadmap − Minimize our scope 1 and 2 emissions through energy efficiencies and by switching to more sustainable energy sources. After which, procure credible Aspiration to Ambition to be net zero by 2050 and founding carbon removal credits to neutralize any Engage with our achieve net-zero r
Slide 25: UBS Annual General Meeting 2024
UBS Annual General Meeting 2024 Date, time and location – Wednesday, 24 April 2024 at 10:30am CEST – St. Jakobshalle, Basel Live webcast – The AGM will be held in English and German. Simultaneous interpretations into German, English and French will be available at the meeting. The AGM will be broadc
Slide 26: Footnotes on Climate roadmap
Footnotes on Climate roadmap 1. Scope 2 emissions are market-based emissions. The remaining scope 1 and 2 emissions may be in excess of the approximately 5-10% residuals required for net zero (per the definition of a “net-zero target” by the ESRS E1 Climate Change per delegated act, adopted on 31 Ju
Slide 27: Cautionary statement regarding Forward looking statements
Cautionary statement regarding Forward looking statements Cautionary Statement Regarding Forward looking Statements | This presentation contains statements that constitute “forward-looking statements,” including but not limited to management’s outlook for UBS’s financial performance, statements rela