Ubs Group Ag · SIX:UBSG
Ubs — Corporate Update (January 2026)
14 slides from Ubs's corporate update, Jan 12, 2026
Slide 1: UBS's response to 26 September 2025 consultation on capitalization of foreign participations
UBS’s response to 26 September 2025 consultation on the capitalization of foreign participations by parent companies of systemically important banks This should be read in conjunction with our formal consultation response posted on our website at www.ubs.com/presentations 12 January 2026
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: Key messages in our consultation response
Key messages in our consultation response UBS supports measures to further strengthen Swiss financial stability, but opposes the proposed capital measures, both at ordinance and legislative level, because they are not proportionate, targeted or internationally aligned Switzerland already has one of
Slide 4: Proposed capital measures would create by far the strictest regime among peers
Proposed capital measures would create by far the strictest regime among peers Foreign participations Highest requirements RWA calculation / implementation of Deferred tax assets Basel III final due to temporary differences International minimum standards Leverage ratio requirements Capitalized Soft
Slide 5: Despite its low-risk business model, UBS already has the highest capital requirements
Despite its low-risk business model, UBS already has the highest capital requirements; proposed measures would make it a pronounced outlier UBS minimum CET1 ratio requirements1 Peers minimum CET1 ratio requirements4 ~21% ~19% CAO proposals ~16% ~5% would merely Peer ~14% 13.5% create the average app
Slide 6: Current regulation for foreign subsidiaries is balanced and sufficient
We consider the current regulation for the treatment of foreign subsidiaries to be balanced and sufficient; any increase makes us a further outlier internationally Capitalization of foreign subsidiaries based on cost / benefit Federal Council proposal Credit Suisse with concessions: Full CET1 deduct
Slide 7: Proposals do not adequately address lessons learned from the Credit Suisse crisis
Proposals do not adequately address lessons learned from the Credit Suisse crisis Credit Suisse’s key issue was an Aggressive valuations and regulatory concessions When the write-down of foreign subsidiaries’ unsustainable business model allowed it to avoid decisive action and postpone book values b
Slide 8: Proposals insufficiently account for loss-absorbing capacity outside of CET1
Proposals insufficiently account for loss-absorbing capacity outside of CET1 TLAC of ~200bn Going and gone concern capital overview Resolution scenario bn − FINMA determines “Point of non-viability” and orders a Going Concern Gone Concern bail-in of TLAC debt to recapitalize the Group ~200 Business
Slide 9: Extreme capital requirements would lead to substantial costs for Switzerland
Extreme capital requirements would lead to substantial costs for Switzerland The financial sector is a cornerstone …and UBS is a pillar of the financial The current proposals will have a substantial of Switzerland’s economy1… sector in Switzerland impact on Swiss clients, the economy and therefore G
Slide 10: Appendix
Appendix 9
Slide 11: Summary of CET1 impacts from foreign subsidiary and ordinance measures
Summary of CET1 impacts from foreign subsidiary and ordinance measures Estimated additional CET1 required1 UBS Group AG, UBS AG, USD consolidated standalone Not attributing any regulatory capital value to In scope of this Foreign participations treatment n/a 23.2bn foreign subsidiaries is an extreme
Slide 12: Alvarez & Marsal highlight Switzerland as a clear international outlier
Alvarez & Marsal highlight Switzerland as a clear international outlier on the trajectory of bank regulation Impact on CET1 requirement from regulatory initiatives worked on by global bank regulators1 Developments across jurisdictions2 Impact on CET1 requirements for GSIBs US banks will obtain total
Slide 13: More equity capital does not lower cost of capital
More equity capital does not lower cost of capital. Over the past twelve years the market has consistently estimated UBS’s cost of equity at ~10% UBS’s cost of equity1 and CET1 leverage ratio2 development (2012-2024) Cost of equity Despite a doubling of UBS’s leverage ratio over the last 12 years, U
Slide 14: UBS's diversified business mix is a source of strength and resilience
UBS’s attractive and diversified business mix is a source of strength and resilience Revenue mix by business vs North American and European GSIBs Revenue mix by region UBS1 North American & European GSIB average2 UBS3 APAC Americas ~60% ~20% EMEA 46bn WM + AM WM + AM Switzerland Wealth and Asset Man