UBS AG LONDON BRANCH - Listing of UBS Actively Managed Notes linked to the FNB Local Select Portfolio

Listing of UBS Actively Managed Notes linked to the FNB Local Select 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 Notes linked to the FNB Local Select
Portfolio.

The JSE Limited has granted UBS AG approval for the listing of UBS Portfolio
Notes (the "Notes") linked to the FNB Local Select 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:

FNB Private Wealth and Investments, and RMB Private Bank make up the private
banking and wealth management units of FirstRand Bank. These entities are
regulated by the Financial Services Conduct Authority with license number
624. More information about FNB Private Wealth and Investments can be found
at https://www.fnb.co.za and www.firstrand.co.za/.

The private banking and wealth management units have strong offerings for
clients seeking local and offshore exposure. These Notes are specifically
designed for use as part of the segregated model portfolio and complement
the holdings in the overall portfolio strategy. IT IS NOT INTENDED TO BE
USED AS A STANDALONE INVESTMENT PORTFOLIO OR PRODUCT.

Investment universe:

UNDERLYING STOCK UNIVERSE:     Developed Market (as defined in the most
                               recent MSCI Global Investable Market Indexes
                               Methodology) worldwide stocks and shares
                               listed on the Main Board of the Johannesburg
                               Stock Exchange.

UNDERLYING INDEX UNIVERSE:     Total Return Index Constituents include
                               indices that are exposed to Developed Market
                               (as defined in the most recent MSCI Global
                               Investable   Market   Indexes   Methodology)
                               worldwide stocks.

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.
Other:

Noteholders should be aware that the Reference Portfolio Advisor is
independent of the Issuer. The performance of the Notes 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 these Notes.
Moreover, past performance of other products managed by the Reference
Portfolio Advisor does not guarantee future positive performance of these
Notes.

Listing information:

This listing (Series 25) is issued under the Information Memorandum of UBS
AG. Trading will commence on Wednesday, 05 April 2023.

INSTRUMENT NUMBER:          108066
ALPHA CODE:                 FNBLSP
ISIN:                       ZAE000320834
ISSUE SIZE (UNITS):         6,000,000
ISSUE PRICE (RAND/UNIT):    100.00

LISTING DATE:               05 April 2023
EXPIRY DATE:                04 April 2028

SECTOR:                     Specialist Securities
SUB-SECTOR:                 Actively Managed Certificates

FOREIGN STATUS:             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
04 April 2023

Sponsor: UBS South Africa (Pty) Limited

Date: 04-04-2023 01:07:00
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