Slide 1: Third quarter 2025 Financial results
Third quarter 2025 Financial results 29 October 2025
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: Agenda
Agenda Key Financial Q&A messages performance Sergio P. Ermotti, Group CEO Todd Tuckner, Group CFO 2
Slide 4: Key messages
Key messages Net profit 2.5bn, underlying PBT 3.6bn, underlying RoCET1 16.3%; core underlying PBT 3.3bn excluding litigation, +19% YoY Our balance sheet for all seasons is a key pillar of our strategy; CET1 capital ratio of 14.8%, executing on capital return plans for 2025 Strong client activity and
Slide 5: Financial performance
Financial performance Todd Tuckner, Group CFO 4
Slide 6: 3Q25 profitability driven by strong revenue growth and positive operating leverage
3Q25 profitability driven by strong revenue growth and positive operating leverage Underlying, bn Revenues Operating expenses Profit before tax Underlying 3Q25 (7%) +5% (1%) excl. PBT 3.6bn litigation 12.2 11.7 Core: +7% 9.2 Core: +50% RoCET1 16.3%1 8.5 +1%, +26% excl. +4% excl. litigation Cost / li
Slide 7: Net profit 2.5bn with underlying PBT growth in all businesses
Net profit 2.5bn with underlying PBT growth in all businesses Profits m Underlying 561 +50% 435 3,590 410 (247) 45 o/w tax: (341m) 493 67 +86m excl. 2,828 litigation (1,323) 2,481 2,386 (347) +278m excl. litigation 3Q24 GWM P&C AM IB NCL Group Items 3Q25 Non- Non- 3Q25 Tax 3Q25 PBT PBT underlying un
Slide 8: Achieved 10bn of gross cost saves, on track to deliver ~13bn target
Achieved 10bn of gross cost saves, on track to deliver ~13bn target Cumulative annualized exit rate Underlying Cumulative integration- gross cost reductions operating expenses related expenses3 USD bn / % of expected cumulative total USD bn USD bn / % of expected cumulative total (~13%) / (~5.1bn) e
Slide 9: Our balance sheet for all seasons is a key pillar of our strategy
Our balance sheet for all seasons is a key pillar of our strategy USD bn, except where indicated USD bn, except where indicated 3Q25 2Q25 3Q24 QoQ YoY 3Q25 2Q25 3Q24 QoQ YoY Total assets 1,632 1,670 1,624 (2%) +1% Regulatory capital o/w: Cash and balances at central banks 219 236 243 (7%) (10%) CET1
Slide 10: Strong profitability reinforces our capital strength
Strong profitability reinforces our capital strength CET1 capital ratio CET1 capital, bn 72.7 2.5 (0.8) (0.1) n/a 0.3 74.7 0.5% 0.0% 0.1% 14.8% (0.2%) 0.0% − RWA 504.9bn, +0.4bn QoQ, 14.4% reflecting business-driven increases (0.1bn) impact on CET1 and (1.0bn) impact on RWA − CET1 leverage ratio 4.6
Slide 11: Global Wealth Management
Global Wealth Management Underlying USD m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 Total revenues 6,410 6,156 5,975 +4% +7% PBT 1,774m, +39% YoY, +21% YoY excluding litigation Net interest income 1,631 1,557 1,590 +5% +3% Total revenues 6,410m, +7% YoY Recurring net fee income
Slide 12: Personal & Corporate Banking (CHF)
Personal & Corporate Banking (CHF) Underlying CHF m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 Total revenues 1,724 1,696 1,818 +2% (5%) PBT 668m, +1% YoY, (3%) YoY excluding litigation Net interest income 919 907 1,008 +1% (9%) Total revenues 1,724m, (5%) YoY Recurring net fee i
Slide 13: Asset Management
Asset Management Underlying USD m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 Total revenues 843 772 873 +9% (3%) PBT 282m, +19% YoY, +70% excluding net gains from disposals Net management fees 755 733 755 +3% 0% Performance fees 87 39 46 +125% +90% Total revenues 843m, (3%) YoY,
Slide 14: Investment Bank
Investment Bank Underlying USD m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 Total revenues 3,025 2,815 2,461 +7% +23% PBT 787m; revenues +23% YoY Global Banking 844 521 555 +62% +52% Global Banking revenues +52% YoY Advisory 324 192 220 +68% +47% − Advisory +47% reflecting increa
Slide 15: Non-core and Legacy
Non-core and Legacy Underlying USD m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 PBT 102m Total revenues (42) (83) 262 Credit loss expense / (release) 6 (2) 28 Total revenues (42m) mainly driven by funding costs, partly offset by net gains on position exits Operating expenses (149
Slide 16: NCL run-down continuing at pace
NCL run-down continuing at pace Reducing complexity Underlying operating expenses excl. litigation Risk-weighted assets bn bn (64%) ~6.1 86 94% books closed since June 2023 Operational 30 risk Target: >95% by YE26 65% Credit and 31 IT apps decommissioned 1.7 56 ~22 market risk3 since June 2023 24 ~0
Slide 17: Continuing our progress towards our 2026 exit rate targets
Continuing our progress towards our 2026 exit rate targets Group underlying return on CET1 capital Capital guidance 11% excl. litigation and 17% applying a normalized tax rate2 14% ~15% ~14% CET1 capital 9% ratio 3% >4.0% CET1 leverage FY22, 2H23 FY24 9M25 2026e ratio reported exit rate Underlying c
Slide 18: Appendix
Appendix 17
Slide 19: UBS Group results
UBS Group results USD m, except where indicated 3Q25 2Q25 1Q25 4Q24 3Q24 Total revenues 12,760 12,112 12,557 11,635 12,334 Credit loss expense / (release) 102 163 100 229 121 Operating expenses 9,831 9,756 10,324 10,359 10,283 Operating profit / (loss) before tax 2,828 2,193 2,132 1,047 1,929 Tax ex
Slide 20: 3Q25 overview of financial performance by business division
3Q25 overview of financial performance by business division USD m, except where indicated UBS Group GWM P&C AM IB NCL Group Items Total revenues as reported 12,760 6,543 2,321 843 3,244 (40) (149) of which: PPA effects and other integration items1 701 171 276 2192 1 34 of which: loss related to an i
Slide 21: 3Q25 Global Wealth Management results by region
3Q25 Global Wealth Management results by region Americas APAC EMEA Switzerland 3Q25 3Q24 YoY 3Q25 3Q24 YoY 3Q25 3Q24 YoY 3Q25 3Q24 YoY Underlying revenues, m 3,097 2,838 9% 1,035 919 13% 1,203 1,169 3% 1,045 1,043 0% Net interest income, m 527 474 11% 349 327 7% 378 402 (6%) 371 394 (6%) Recurring n
Slide 22: Overview of capital requirements and ratios
Overview of capital requirements and ratios 199.3bn 39.5% 12.2% Gone concern: 104.4bn Gone concern: 20.7% Gone concern: 6.4% Total loss-absorbing capacity: 25.7% Total loss-absorbing capacity: 8.75% Going concern: 95.0bn Going concern: 18.8% Going concern: 5.8% o/w CET1 o/w CET1 Going concern: 15.0%
Slide 23: RWA and LRD QoQ walk
RWA and LRD QoQ walk Risk-weighted assets bn 0% 3.5 0.2 504.5 0.0 504.9 (2.3) (1.0) 2Q25 Credit and Non-counterparty- Market risk Operational risk Currency effects 3Q25 counterparty credit risk related risk Leverage ratio denominator bn (1%) 318.5 1,658.1 5.9 1,640.5 (1.8) (13.4) (3.1) (5.2) 2Q25 On
Slide 24: PPA pull to par overview and revenue recognition
PPA pull to par overview and revenue recognition Accretion of PPA adjustments on financial instruments Recognized Estimated amortization profile4 Expected future P&L Opening balance Remaining balance USD bn 2023–3Q25 releases at 30.9.25 4Q25 2026 2027 2028+ as of 12.6.23 (close) to be recognized2 FX
Slide 25: FY22 combined cost baseline
FY22 combined cost baseline FY22 USD bn Operating expenses UBS sub-group (IFRS)1 24.9 Credit Suisse sub-group (US GAAP)2,3 19.1 UBS sub-group exclusions4 (0.3) Credit Suisse sub-group exclusions3,5 (2.0) Commission expense reclassification3,6 (1.1) FY22 combined cost baseline 40.6 • of which: ~34.5b
Slide 26: TBTF regulatory process
TBTF regulatory process Currently envisaged process by Swiss Federal Council Today 2H25 1H26 2H26 1H27 2H27 2028+ CAO Consul- Evaluation/ Decision Changes effective earliest in 2027 (PVA, Software, tation Federal Council Transition period TBD DTA, AT1) Law change Consul- Evaluation/ Dispatch Parliam
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
Slide 28: Third quarter 2025 Fixed Income
Third quarter 2025 Fixed Income investor presentation This document should be read in conjunction with UBS’s 3Q25 report and earnings presentation, as well as the UBS Group Annual Report 2024 29 October 2025
Slide 29: 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 30: Agenda
Agenda Key messages and Group balance sheet financial performance Slides 3-7 Slides 8-16 2
Slide 31: Key messages
Key messages Net profit 2.5bn, underlying PBT 3.6bn, underlying RoCET1 16.3%; core underlying PBT 3.3bn excluding litigation, +19% YoY Our balance sheet for all seasons is a key pillar of our strategy; CET1 capital ratio of 14.8%, executing on capital return plans for 2025 Strong client activity and
Slide 32: 3Q25 profitability driven by strong revenue growth and positive operating leverage
3Q25 profitability driven by strong revenue growth and positive operating leverage Underlying, bn Revenues Operating expenses Profit before tax Underlying 3Q25 (7%) +5% (1%) excl. PBT 3.6bn litigation 12.2 11.7 Core: +7% 9.2 Core: +50% RoCET1 16.3%1 8.5 +1%, +26% excl. +4% excl. litigation Cost / li
Slide 33: Achieved 10bn of gross cost saves, on track to deliver ~13bn target
Achieved 10bn of gross cost saves, on track to deliver ~13bn target Cumulative annualized exit rate Underlying Cumulative integration- gross cost reductions operating expenses related expenses3 USD bn / % of expected cumulative total USD bn USD bn / % of expected cumulative total (~13%) / (~5.1bn) e
Slide 34: NCL run-down continuing at pace
NCL run-down continuing at pace Reducing complexity Underlying operating expenses excl. litigation Risk-weighted assets bn bn (64%) ~6.1 86 94% books closed since June 2023 Operational 30 risk Target: >95% by YE26 65% Credit and 31 IT apps decommissioned 1.7 56 ~22 market risk3 since June 2023 24 ~0
Slide 35: Continuing our progress towards our 2026 exit rate targets
Continuing our progress towards our 2026 exit rate targets Group underlying return on CET1 capital Capital guidance 11% excl. litigation and 17% applying a normalized tax rate2 14% ~15% ~14% CET1 capital 9% ratio 3% >4.0% CET1 leverage FY22, 2H23 FY24 9M25 2026e ratio reported exit rate Underlying c
Slide 36: Group balance sheet
Group balance sheet 36 UBS
Slide 37: Our balance sheet for all seasons is a key pillar of our strategy
Our balance sheet for all seasons is a key pillar of our strategy USD bn, except where indicated USD bn, except where indicated 3Q25 2Q25 3Q24 QoQ YoY 3Q25 2Q25 3Q24 QoQ YoY Total assets 1,632 1,670 1,624 (2%) +1% Regulatory capital o/w: Cash and balances at central banks 219 236 243 (7%) (10%) CET1
Slide 38: Strong profitability reinforces our capital strength
Strong profitability reinforces our capital strength CET1 capital ratio CET1 capital, bn 72.7 2.5 (0.8) (0.1) n/a 0.3 74.7 0.5% 0.0% 0.1% 14.8% (0.2%) 0.0% − RWA 504.9bn, +0.4bn QoQ, 14.4% reflecting business-driven increases (0.1bn) impact on CET1 and (1.0bn) impact on RWA − CET1 leverage ratio 4.6
Slide 39: Funding overview
Funding overview Group funding bn 786 1,329 1,191 1,252 3Q25, QoQ 1% 1% 1% 100% 1% 100% 90bn − +0.6bn, mainly driven net profit of +2.5bn, partly offset net treasury share activity of (1.8bn) shareholder equity 60% 63% 63% 67% 361bn − Of which short-term debt1,2: 57bn − Of which long-term debt2,3: 3
Slide 40: Capital markets issuances and redemptions
Capital markets issuances and redemptions Issuances and redemptions1 Upcoming maturities and first calls1,2 Issuances, year-to-date USD bn USD bn As of 29.10.25 9M25 AT1 HoldCo Covered bonds OpCo USD 5.0bn USD 6.8bn EUR 2.3bn 124 USD 1.3bn AUD 1.3bn EUR 6.0bn CHF 0.5bn 16 2025 funding plan 36 We man
Slide 41: Long-term wholesale funding diversification
Long-term wholesale funding diversification Group funding 3Q25 Total long-term wholesale funding: 166bn Covered Bonds Other 8% CHF 7% <1 year 5% OpCo 23% >5 years 17% 33% By By By source USD maturity1 EUR currency 55% AT1 34% 11% HoldCo 65% 1-3 years 25% 3-5 years 19% As of quarter-end, does not inc
Slide 42: Liquidity: Balancing efficiency with resiliency and safety
Liquidity: Balancing efficiency with resiliency and safety Liquidity coverage ratio1 quarterly averages Average high-quality liquid assets, bn 416 423 378 361 332 319 359 347 Net cash outflows2, bn 193 192 179 181 176 176 197 190 3 216% 220% 212% 199% 188% 181% 182% 182% 4Q23 1Q24 2Q24 3Q24 4Q24 1Q2
Slide 43: Deposits
Deposits A well diversified deposit base 3Q25 Total deposits: 783bn Other 9% Time EUR deposits Demand 10% 33% 33% USD P&C 38% 39% By By By client type currency segment GWM 61%1 Sweeps 5% CHF Retail savings 43% 28% 1 Includes customer brokerage payables which are presented in separate reporting lines
Slide 44: High-quality loan portfolio, mostly secured by real estate or securities
High-quality loan portfolio, mostly secured by real estate or securities Loans and advances to customers On-balance sheet, 3Q25 Other3 8% Corporates2 Mortgages1: 378n, ~50% LTV 8% › Swiss mortgages make up the majority of the portfolio Lombard: 163bn › Fully collateralized, with daily monitoring of
Slide 45: Appendix
Appendix 3Q25 financial results Group balance sheet and credit quality 17
Slide 46: UBS Group results
UBS Group results USD m, except where indicated 3Q25 2Q25 1Q25 4Q24 3Q24 Total revenues 12,760 12,112 12,557 11,635 12,334 Credit loss expense / (release) 102 163 100 229 121 Operating expenses 9,831 9,756 10,324 10,359 10,283 Operating profit / (loss) before tax 2,828 2,193 2,132 1,047 1,929 Tax ex
Slide 47: 3Q25 overview of financial performance by business division
3Q25 overview of financial performance by business division USD m, except where indicated UBS Group GWM P&C AM IB NCL Group Items Total revenues as reported 12,760 6,543 2,321 843 3,244 (40) (149) of which: PPA effects and other integration items1 701 171 276 2192 1 34 of which: loss related to an i
Slide 48: Net profit 2.5bn with underlying PBT growth in all businesses
Net profit 2.5bn with underlying PBT growth in all businesses Profits m Underlying 561 +50% 435 3,590 410 (247) 45 o/w tax: (341m) 493 67 +86m excl. 2,828 litigation (1,323) 2,481 2,386 (347) +278m excl. litigation 3Q24 GWM P&C AM IB NCL Group Items 3Q25 Non- Non- 3Q25 Tax 3Q25 PBT PBT underlying un
Slide 49: Global Wealth Management
Global Wealth Management Underlying USD m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 Total revenues 6,410 6,156 5,975 +4% +7% PBT 1,774m, +39% YoY, +21% YoY excluding litigation Net interest income 1,631 1,557 1,590 +5% +3% Total revenues 6,410m, +7% YoY Recurring net fee income
Slide 50: 3Q25 Global Wealth Management results by region
3Q25 Global Wealth Management results by region Americas APAC EMEA Switzerland 3Q25 3Q24 YoY 3Q25 3Q24 YoY 3Q25 3Q24 YoY 3Q25 3Q24 YoY Underlying revenues, m 3,097 2,838 9% 1,035 919 13% 1,203 1,169 3% 1,045 1,043 0% Net interest income, m 527 474 11% 349 327 7% 378 402 (6%) 371 394 (6%) Recurring n
Slide 51: Personal & Corporate Banking (CHF)
Personal & Corporate Banking (CHF) Underlying CHF m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 Total revenues 1,724 1,696 1,818 +2% (5%) PBT 668m, +1% YoY, (3%) YoY excluding litigation Net interest income 919 907 1,008 +1% (9%) Total revenues 1,724m, (5%) YoY Recurring net fee i
Slide 52: Asset Management
Asset Management Underlying USD m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 Total revenues 843 772 873 +9% (3%) PBT 282m, +19% YoY, +70% excluding net gains from disposals Net management fees 755 733 755 +3% 0% Performance fees 87 39 46 +125% +90% Total revenues 843m, (3%) YoY,
Slide 53: Investment Bank
Investment Bank Underlying USD m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY Underlying 3Q25 Total revenues 3,025 2,815 2,461 +7% +23% PBT 787m; revenues +23% YoY Global Banking 844 521 555 +62% +52% Global Banking revenues +52% YoY Advisory 324 192 220 +68% +47% − Advisory +47% reflecting increa
Slide 54: Non-core and Legacy
Non-core and Legacy Underlying Underlying 3Q25 USD m, except where indicated 3Q25 2Q25 3Q24 QoQ YoY PBT 102m Total revenues (42) (83) 262 Credit loss expense / (release) 6 (2) 28 Total revenues (42m) mainly driven by funding costs, partly offset by net gains on position exits Operating expenses (149
Slide 55: Appendix
Appendix 3Q25 financial results Group balance sheet and credit quality 27
Slide 56: Balance sheet
Balance sheet For the quarter-end 3Q25 1,632 1,632 57 a 1. Cash and balances at central banks 19 a. Short-term borrowings2,3 and amounts due from banks 1 238 b b. Securities financing transactions 2. Loans and advances to customers at amortized cost 3. Securities financing transactions c. Customer d
Slide 57: Credit loss expense / (release) and credit-impaired exposures
Credit loss expense / (release) and credit-impaired exposures Credit loss expense / (release) ECL coverage ratio for core loan portfolio (stage 3)2 USD m On balance sheet 3Q24 4Q24 1Q25 2Q25 3Q25 GWM 2 (14) 6 3 7 27% P&C 83 175 53 114 72 27% 26% IB 9 63 35 48 17 NCL 28 6 7 (2) 6 24% Other1 0 0 (1) 0
Slide 58: Overview of capital requirements and ratios
Overview of capital requirements and ratios 199.3bn 39.5% 12.2% Gone concern: 104.4bn Gone concern: 20.7% Gone concern: 6.4% Total loss-absorbing capacity: 25.7% Total loss-absorbing capacity: 8.75% Going concern: 95.0bn Going concern: 18.8% Going concern: 5.8% o/w CET1 o/w CET1 o/w CET1 Going conce
Slide 59: RWA and LRD QoQ walk
RWA and LRD QoQ walk Risk-weighted assets bn 0% 3.5 0.2 504.5 0.0 504.9 (2.3) (1.0) 2Q25 Credit and Non-counterparty- Market risk Operational risk Currency effects 3Q25 counterparty credit risk related risk Leverage ratio denominator bn (1%) 318.5 1,658.1 5.9 1,640.5 (1.8) (13.4) (3.1) (5.2) 2Q25 On
Slide 60: TBTF regulatory process
TBTF regulatory process Currently envisaged process by Swiss Federal Council Today 2H25 1H26 2H26 1H27 2H27 2028+ CAO Consul- Evaluation/ Decision Changes effective earliest in 2027 (PVA, Software, tation Federal Council Transition period TBD DTA, AT1) Law change Consul- Evaluation/ Dispatch Parliam
Slide 61: UBS Liquidity & Funding (Risk Management) Framework
UBS Liquidity & Funding (Risk Management) Framework Liquidity coverage ratio Net stable funding ratio Group Treasury • Proposes the liquidity and funding (L&F) strategy • Maintains the UBS L&F risk management framework, 100% 100% together with the 2nd line of defence, including the BCBS REQUIREMENT
Slide 62: YTD 2025 issuances
YTD 2025 issuances ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/Maturity US90261AAD46 OpCo USD 1.250 4.864% 10.01.25 10.01.27 US225401BH08 AT1 USD 1.500 7.000% 10.02.25 10.02.30 US225401BJ63 AT1 USD 1.500 7.125% 10.02.25 10.08.34 CH1414003454 HoldCo EUR 1.250 2.875% 12.02.25
Slide 63: YTD 2025 redemptions (1/2)
YTD 2025 redemptions (1/2) ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/Maturity US22550L2L411 OpCo USD 1.250 7.950% 09.01.23 09.01.25 US902674YU81 OpCo USD 1.000 1.375% 13.01.22 13.01.25 CH05919796352 HoldCo EUR 1.500 3mEURIBOR+100bps 18.01.21 16.01.25 CH0520042489 HoldCo E
Slide 64: YTD 2025 redemptions (2/2)
YTD 2025 redemptions (2/2) ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/Maturity CH05206635811 Covered Bond CHF 0.350 0.000% 31.01.20 31.07.25 CH0286864027 AT1 USD 1.575 6.875% 07.08.15 07.08.25 CH0330938876 HoldCo GBP 0.500 2.750% 08.08.16 08.08.25 US902674ZV55 OpCo USD 1.0
Slide 65: Credit ratings peer comparison (holding company)
Credit ratings peer comparison Long-term senior unsecured debt – holding company, as of 28.10.25 MOODY’S S&P FITCH Ba1 Baa3 Baa2 Baa1 A3 A2 A1 Aa3 BB+ BBB- BBB BBB+ A- A A+ AA- BB+ BBB- BBB BBB+ A- A A+ AA- UBS Barclays BNP1 BoA Citi DB1 GS HSBC JPM MS SocGen1 [No arrow] Review for downgrade Outlook
Slide 66: Credit ratings peer comparison (operating company)
Credit ratings peer comparison Long-term senior unsecured debt – operating company, as of 28.10.25 MOODY’S S&P FITCH Baa2 Baa1 A3 A2 A1 Aa3 Aa2 Aa1 BBB- BBB BBB+ A- A A+ AA- AA BBB- BBB BBB+ A- A A+ AA- AA UBS Barclays BNP BoA Citi DB GS HSBC JPM MS SocGen [No arrow] Review for downgrade Outlook neg
Slide 67: Ratings on main UBS entities
Ratings on main UBS entities MOODY’S S&P FITCH UBS Group AG Long-term A2/Stable A-/Stable A/Positive Long-term Aa2/Stable A+/Stable A+/ Positive UBS AG Short-term P-1 A-1 F1 Long-term A+/Stable A+/ Positive UBS Switzerland AG Short-term A-1 F1 Long-term Aa3/Stable A+/Stable A+/ Positive UBS Europe S
Slide 68: Legal structure of the UBS Group
Legal structure of the UBS Group 1 Other non-US subsidiaries are held either directly or indirectly by UBS AG; 2 Of which 98% held by UBS AG and 2% held by UBS Group AG; 3 Merged with Credit Suisse Holdings (USA), Inc. on 30 May 40 2025; 4 Of which 99% directly held by UBS Americas Inc. and 1% held
Slide 69: 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