Slide 1: Second quarter 2025 Financial results
& UBS Second quarter 2025 Financial results
Slide 2: Important information
Important information Forward-looking statements: This presentation contains statements that constitute “forward-looking statements”, induding but not limited to management's outlook for UBS's financial performance, statements relating to the anticipated effect of transactions and strategic initiati
Slide 3: Agenda
Agenda Key Financial Q&A messages performance Sergio P. Ermotti, Group CEO Todd Tuckner, Group CFO %% UBS
Slide 4: Key messages
Key messages Strong 2Q25 and 1H25 financial performance on continued client momentum and progress on integration; 2Q25 net profit 2.4bn, underlying profit before tax 2.7bn, underlying RoCET1 15.3%; 1H25 net profit 4.1bn, underlying profit before tax 5.3bn, underlying RoCET1 13.3% Franchise strength
Slide 5: Financial performance
Financial performance Todd Tuckner, Group CFO %% UBS
Slide 6: 2Q25 profitability driven by strong core revenue growth and positive jaws
2Q25 profitability driven by strong core revenue growth and positive jaws U ying, bn Revenues Operating expenses Profit before tax Un 2Q25 eS PBT 2.7bn 11.5 9/ m4 “Core: r— 8%) — t RoCET1 15.3% eee aL 48% 9.0 8.7 oy Core: fo _ He Cost/ 9 os' [ 430% income SARS 27 11.6 2.1 ; norte 107 es ecctseel - 2
Slide 7: Net profit 2.4bn while integration continues at pace
Net profit 2.4bn while integration continues at pace Profits Underlying |~0.4bn expected jin 3025! 565 +30% 1 low tax benefit: 183 2,683 Teen 81 282 4 202 2,193 (26) (12) 7: 2,060 ) (1,055) ~1.1bn expected in 3925 2924 GWM Pac AM iB NCL Group Items 2925 Non- Non- 2925 Tax 2925 PBT PBT underlying und
Slide 8: Achieved 70% of gross cost save ambition, on track to achieve end-2026 target
Achieved 70% of gross cost save ambition, on track to achieve end-2026 target Underlying operating expenses Cumulative annualized exit rate gross cost reductions USD bn (~11%) /(~4.5bn) excl. FX (~14%) / (~5.5bn) Cumulative integration- related expenses? ~13 ~40.6 ~14 law: +0.7bn |in 2925 30:4 36-1
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 2Q25. 1025 2024. QoQ YoY 2Q25. 1925 2024 «QoQ YoY Total assets 1,670 1,543 1,561 +8% + +7% Regulatory capital lw: Cash and balances at central banks 236 231248 +2% = (5%) CET! capital 727 692 761 +5% (4%) a/w: Lending assets! 668 615
Slide 10: Maintaining a strong capital position
Maintaining a strong capital position CET1 capital ratio CET capital, bn 69.2 18 (0.8) 23 na 02 72.7 0.4% (0.2%) (0196) 0.0% 14.4% 14.3% (0.1%) |+2.3bn impact on CET1 and +18.6bn impact on RWA 1Q25 Net profit’ Dividend accrual Currency effects RWA excl. Other? 2Q25 currency effects ABUBS 1 rotc boto
Slide 11: Global Wealth Management
Global Wealth Management Underlying Total revenues Net interest income Recurring net fee income Transaction-based income Other income Credit loss expense / (release) Operating expenses Profit before tax Profit before tax (reported) Cost / income ratio Invested assets, bn Deposits, bn Loans, bn RWA,
Slide 12: Personal & Corporate Banking (CHF)
Personal & Corporate Banking (CHF) Underlying Total revenues Net interest income Recurring net fee income Transaction-based income Other income Credit loss expense / (release) Operating expenses Profit before tax Profit before tax (reported) Cost / income ratio Deposits, bn Loans, bn RWA, bn %% UBS
Slide 13: Asset Management
Asset Management Underlying a 2925 1925 2924 09 YoY Underlying 2Q25 vs. 2Q24 9 9 i i Fatal eerie 772 741 5 aye 0% PBT 216m, (5%), +8% excl. 2Q24 net gain from disposals Nat enetnaaemneinetoes 8 i a iad gay Total revenues 772m, flat YoY, +4% excl. 2024 net gain Performance fees 39 30 28 +28% +36% fro
Slide 14: Investment Bank
Investment Bank Underlying here 2Q25 1925 2Q24 Q0Q YoY Underlying 2Q25 vs. 2Q24 j ey, Total revenues 2,815 3,045 2,493 (6%) 413% PBS26m; record 2a reIewes! cis Global Banking 521 564 668 (8%) (22%) Global Banking revenues (22%) Advisory 192 221 239 (13%) (19%) — Advisory (19%), driven by lower priva
Slide 15: Non-core and Legacy
Non-core and Legacy Underlying Total revenues Credit loss expense / (release) Operating expenses Profit before tax Profit before tax (reported) RWA, bn LRD, bn %% UBS (250) 33 29 284 34 35 2024 401 a) 481 (80) (405) 50 80 Q0Q (4%) (16%) YoY (34%) (63%) Underlying 2Q25 vs. 2Q24 PBT 1m Total revenues
Slide 16: NCL run-down continuing at pace
NCL run-down continuing at pace Reducing complexity 83% books closed since June 2023 Target: >95% by YE26 56% IT apps decommissioned since June 2023 100% by YE26 Underlying operating expenses excl. litigation ~6.1 2.0 ~1.6 ~0.8 FY22 2Q25 FY25 2026 combined LTM? —s updated __—exit-rate baseline! ambi
Slide 17: Continuing to make progress towards our 2026 exit rate targets
Continuing to make progress towards our 2026 exit rate targets Group underlying return on CET1 capital Capital guidance 11% excl. 1H25 litigation and 9 ee | applying a normalized tax rate? ; ~15% ee ~14% 9% CET1 capital ratio - >4.0% CET1 leverage FY22, 2H23 FY24 1H25 2026e eke reported exit rate Un
Slide 18: Appendix
Appendix
Slide 19: UBS Group results
UBS Group results 2925 1925 4Q24 3Q24 2024 Total revenues 12,112 12,557 11,635 12,334 11,904 Credit loss expense / (release) 163 100 229 121 95 Operating expenses 9,756 10,324 10,359 10,283 10,340 Operating profit / (loss) before tax 2,193 2,132 1,047 1,929 1,469 Tax expense/ (benefit) (209) 430 268
Slide 20: 2Q25 overview of financial performance by business division
2Q25 overview of financial performance by business division UBS Group GWM P&C AM B NCL Group Items 12,112 6,300 2,336 772 2,966 (82) (180) Total revenues (underlying) 11,546 6,156 772 2,815 (83) (198) Credit loss expense / (release) 163 3 14 0 48 @ 0 Operating expenses as reported 5,093 618 2,361 17
Slide 21: 2Q25 Global Wealth Management results by region
2Q25 Global Wealth Management results by region Underlying revenues, m Net interest income, m Recurring net fee income, m Transaction-based income, m Other income, m Credit loss expense / (release), m Underlying operating expenses, m Underlying PBT, m Underlying cost/ income ratio Net new fee-genera
Slide 22: Overview of capital requirements and ratios
Overview of capital requirements and ratios Gone concern: 19.7% x2 x x a S 2 8 oS > S < € | & = 9 = \s | oo “Be ae a is 4 9 Se fe ie x 9 2 vs. guidance 6 2 a vs. guidance o 2 8 ~14% ei 2 >4% a le 2 “Li we is 8 ei ee oe e 66 2 2Q25 2Q25 Requirements 2Q25 Requirements RWA LRD 504.5bn 1,658.1bn SR UBS
Slide 23: RWA and LRD QoQ walk
RWA and LRD QoQ walk Risk weighted assets on +4% + 18.6 i 483.3 32 0.4 0.0 504.5 “ | 1Q25 Credit and Non-counterparty- Market risk Operational risk Currency effects 2925 counterparty credit risk related risk Leverage ratio denominator bn l +6% + 88.1 1,658.1 1,561.6 67 29 (0.2) (1.1) | 1925 On-balan
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 profile* Expected future P&L Opening balance Remaining balance USD bn eeae os Gen 2023-2925 Toberecognized? —-CleaSES at 306.25 39-4925 2026 2027+ FX rates cw ~3.0
Slide 25: FY22 combined cost baseline
FY22 combined cost baseline FY22 USD bn Operating expenses UBS sub-group (IFRS) 24.9 Credit Suisse sub-group (US GAAP)? 19.1 UBS sub-group exclusions* (0.3) Credit Suisse sub-group exclusions?* (2.0) Commission expense reclassification? ® (1.1) FY22 combined cost baseline 40.6 + of which: ~34.5bn in
Slide 26: Underlying revenue and expense currency mix
Underlying revenue and expense currency mix Underlying revenues! Underlying operating expenses!2 % % = 4 7 16 oh 2 a 31 a= 20 82 68 a 50 53 GWM AM 1B Group GWM _ AM 1B NCE Group Mi usp Mi cor Ml cep EUR Other &% UBS _ 1 Based on estimated currency splits as of 125; 2 Also includes updated methodolog
Slide 27: Proposals would make UBS a pronounced outlier among G-SIBs
Proposals would make UBS a pronounced outlier among G-SIBs Minimum CET1 ratio requirements' UBS de-facto minimum of ~19% based on current proposal, or ~17% after proposed DTA, software and PVA deductions from regulatory capital? ~19% ~11.5% reflecting market share add-on as indicated in the 6 June 2
Slide 28: Proposed rules are not internationally aligned
Proposed rules are not internationally aligned Deferred tax assets on temporary differences (TD DTAs) Capitalized software Prudential valuation adjustments (PVAs) Foreign participations Basel 3 standards Recognized up toa threshold of 10% of CET1 and risk-weighted at 250%. Deduction above this thres
Slide 29: Cautionary statement regarding forward-looking statements
Cautionary statement regarding forward-looking statements regarding forward-looking statemerts | This presentation contains statements that consi “including but net limized to management's outlock for UBS's financial performance, statements relating to the antkipated effec: of transactions and strat
Slide 30: Key messages
Key messages Strong 2Q25 and 1H25 financial performance on continued client momentum and progress on integration; 2Q25 net profit 2.4bn, underlying profit before tax 2.7bn, underlying RoCET1 15.3%; 1H25 net profit 4.1bn, underlying profit before tax 5.3bn, underlying RoCET1 13.3% GWM NNA 55bn, 2Q25
Slide 31: We continue to be a reliable partner for the Swiss economy
31 We continue to be a reliable partner for the Swiss economy, supporting communities, families and businesses to achieve their goals, granting or renewing 40 billion Swiss francs of loans in the quarter. And we are further reducing the execution risk of the integration. We finalized the migration o
Slide 32: The proposals only partially reflect the true lessons learned from Credit Suisse
32 In addition, the proposals only partially reflect the true lessons learned from Credit Suisse’s collapse. Credit Suisse didn't fail due to inadequate capital requirements. The real problem was that the rules were not implemented consistently and coherently. Credit Suisse benefited from regulatory
Slide 33: This slide shows how extreme this proposal is
33 This slide shows how extreme this proposal is, comparing it to our current requirement and those of our peers. As you can see, the de-facto minimum CET1 ratio requirements for UBS would be at least 50% higher than the average across global systemically important banks. This is the ultimate proof