Ubs Group Ag · SIX:UBSG
Ubs — Corporate Update (September 2025)
15 slides from Ubs's corporate update, Sep 30, 2025
Slide 1: UBS's response to 6 June 2025 Capital Adequacy Ordinance (CAO) consultation
&% UBS UBS's response to 6 June 2025 Capital Adequacy Ordinance (CAO) consultation This should be read in conjunction with our formal consultation response posted on our website at www.ubs.com/presentations 30 September 2025
Slide 2: Important information
Important information Forward-looking statements: This presentation contans statevents that constitute “forwarctlooking statemenss”, including but not limited to management's outlook for UBS's finan staterienss reletng to the anticpated effect of trensactions and stratecic initiat wes on UBS's busin
Slide 3: Key messages
Key messages UBS backs the goal to enhance regulation post-Credit Suisse, but opposes the proposed capital measures, both at ordinance and legislative level, because they are not proportionate, targeted or internationally aligned The proposals represent a series of "worst of" measures, picking the m
Slide 4: UBS supports in principle enhancing regulation
UBS supports in principle enhancing regulation Key lessons learned from the Credit Suisse crisis Credit Suisse failed due to lack of a sustainable strategy, inadequate culture, and poor risk management and governance which ultimately resulted in the loss of its clients’ trust Expert reports have con
Slide 5: Sum of proposed capital measures is by far the strictest regime among peers
Sum of proposed capital measures is by far the strictest regime among peers RWA calculation / implementation of Basel Ill final Leverage ratio requirements — Switzerland - proposed TBTF regime -— EM Switzerland-current TBTF regime —- EU — SB uK — Bus prop g! 9 Foreign participations Highest requirem
Slide 6: Proposed capital measures are extreme and would make UBS a pronounced outlier
Proposed capital measures are extreme and would make UBS a pronounced outlier, while also understating its stated CET1 ratio UBS minimum CET1 ratio requirements! 12.6% 12.5% 12.4% 12.2 Peers minimum CET1 ratio requirements zs 11.8% 11.8% 11.6% 11.6% 11.5% 11.5% 11.5% 14.0% --40:9%- / 1 average Peer
Slide 7: CAO proposals would unduly eliminate ~11bn of CET1 capital at Group level
CAO proposals would unduly eliminate ~11bn of CET1 capital at Group level Estimated additional CET1 required! UBS Group AG, USD consolidated Foreign participations treatment Capitalized software UBS AG, standalone 0.3bn CAO proposals would eliminate UBS Group AG's CET1 capital, reducing its CET1 rat
Slide 8: Full deduction of capitalized software lacks regulatory and economic justification
Full deduction of capitalized software lacks regulatory and economic justification Credit Suisse’s capitalized software Software in recovery vs. resolution in USDm Despite the multi-year crisis, The software — Even in the event of a crisis, software (without which banks would not iesdighIRGARE extra
Slide 9: Deduction of temporary difference DTAs would be misaligned with all other major jurisdictions
Deduction of temporary difference DTAs (TD DTAs) would be misaligned with all other major jurisdictions and would not reflect realizable asset value Deferred tax assets from temporary differences International alignment Different jurisdictions have different rules on when an expense recorded in the
Slide 10: PVA-related measures should not be based on business combination accounting
PVA-related measures should not be based on business combination accounting Prudent valuation adjustments (PVA) and level 3 assets Credit Suisse PPAs were part of UBS's standard business combination accounting and as such should not be linked to the purpose of PVAs Level 3 assets are assets whose va
Slide 11: TBTF regulatory process
TBTF regulatory process Currently envisaged process by Swiss Federal Council CAO (PVA, Software, DTA, AT-1) Law change (Foreign Participations) Law change (Governance, Liquidity, RRP, PLB) Ordinance (Liquidity) 2H25 Consul- tation Consul- tation 6 June 2025 Announcement of Comerstones 1H26 2H26 Eval
Slide 12: Appendix
Appendix
Slide 13: UBS's attractive and 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 UBs' North American & European GSIB average? UBS? APAC Americas ~60% WM + AM ~20% EMEA A6bn WM + AM Switzerland GM Wealth and Asset
Slide 14: Over the past twelve years the market has consistently estimated UBS's cost of equity at ~10%
Over the past twelve years the market has consistently estimated UBS’s cost of equity at ~10% UBS's cost of equity! and CET1 leverage ratio? development (2012-2024) 10.7% 10.7% 10.5% 4 o % 10.3% 9 10.4% UBS's cost of equity! ee ame Ee —_ — % 4.7% aay 49% 42% 3.8% 38% 39% 38% 3.3% 3.5% 2.8% 3.0% CET1
Slide 15: Signatures
15 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized. UBS Group AG By: /s/ David Kelly _ Name: David Kelly Title: Managing Director By: /s/ Ella Copet