UBS AG LONDON BRANCH - Listing of UBS Actively Managed Certificate linked to the Ordian Global Multi-Asset Portfolio

Listing of UBS Actively Managed Certificate linked to the Ordian Global Multi-Asset Portfolio

UBS AG, London Branch
("UBS AG" or the "Company")
(Incorporated and domiciled in Switzerland)
(Registration number: CHE-101.329.561)

Listing of UBS Actively Managed Certificate linked to the Ordian Global
Multi-Asset Portfolio

The JSE Limited has granted UBS AG approval for the listing of UBS Portfolio
Notes linked to the Ordian Global Multi-Asset Portfolio (the "Reference
Portfolio").

The Reference Portfolio, whose composition may vary from time to time, is
actively managed by the Reference Portfolio Advisor and represents a notional
investment in the Reference Portfolio Components as described in detail
below.

Background:

Numoro (Pty) Ltd is a leading Cape Town based boutique asset manager providing
investment solutions to Independent Financial Advisors. More information
about Numoro (Pty) Ltd can be found at https://www.numoro.co.za. Numoro (Pty)
Ltd is a Private Company registered in South Africa under registration
number: 2022/433381/07 and is regulated as a Financial Services Provider
with the Financial Sector Conduct Authority (FSCA No. 52670) and holds a Cat
II licence.

The Note aims to deliver a systematic, data-driven investment strategy that
combines fundamental analysis with value investing principles. This
methodology aims to identify undervalued stocks with strong financial
performance and meaningful potential for future growth.

By employing a set of objectives, quantitative criteria, the approach seeks
to eliminate emotional biases from the investment process, thereby enhancing
decision-making. Investors obtain exposure to a global portfolio, primarily
offshore with the option to include local equities if deemed appropriate,
that exhibit high-quality with the potential to deliver superior long-term
returns. To complement individual stock selection and broaden overall market
exposure, the Note may also invest in a select range of exchange-traded funds
(ETFs).

Investment universe:

UNDERLYING STOCK UNIVERSE:     Developed Market (as defined in the most
                               recent MSCI Global Investable Market Indexes
                               Methodology) worldwide stocks; and may also
                               include stocks which are American Depository
                               Receipts   (ADRs)   and  Global   Depository
                               Receipts (GDRs). Shares listed on the Main
                               Board of the Johannesburg Stock Exchange may
                               also be incorporated.

UNDERLYING ETF UNIVERSE:       ETFs that are physically replicated, exposed
                               to Developed Market (as defined in the most
                               recent MSCI Global Investable Market Indexes
                               Methodology) worldwide stocks or benchmark
                               indices as well as ETFs listed on the Main
                               Board of the Johannesburg Stock Exchange may
                               be incorporated as ETF Constituents.

UNDERLYING FX CONSTITUENTS     Only FX Forwards exposed to G10 currencies
                               and   ZAR  may   be   incorporated   as  FX
                               Constituents in the Reference Portfolio.

UNDERLYING CURRENCY ACCOUNT    USD, EUR, and GBP synthetic cash.


Other:

Noteholders should be aware that the Reference Portfolio Advisor is
independent of the Issuer. The performance of the Product is largely
dependent on the skill and decisions made by the Reference Portfolio Advisor.
Decisions made by the Reference Portfolio Advisor may not always be
profitable and therefore may have a material adverse impact on the value of
this Product. Moreover, past performance of other products managed by the
Reference Portfolio Advisor does not guarantee future positive performance
of this Product.

Listing information:

This listing (Series 50) is issued under the Information Memorandum of UBS
AG. Trading will commence on Thursday, 15 May 2025.

INSTRUMENT NUMBER:           121428
ALPHA CODE:                  ORDGMU
ISIN:                        ZAE000347480
ISSUE SIZE (UNITS):          1,000,000
ISSUE PRICE (RAND/UNIT):     100.00

LISTING DATE:                15 May 2025
EXPIRY DATE:                 14 May 2032

SECTOR:                      Specialist Securities
SUB-SECTOR:                  Actively Managed Certificates

FOREIGN STATUS:              The Notes are classified as Foreign for purposes
                             of the South African Reserve Bank Exchange
                             Control Regulations.

For further information kindly contact:
UBS KeyInvest South Africa
Tel.: +27 11 322 7129 / 7317
E-mail: keyinvestza@ubs.com
Web: http://keyinvest-za.ubs.com/AMC

Johannesburg
14 May 2025

Sponsor: UBS South Africa (Pty) Limited

Date: 14-05-2025 03:00:00
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