UBS AG - Notification Redemption of Early Termination Event for UBS Autocallable Note - UBS001

Notification Redemption of Early Termination Event for UBS Autocallable Note - UBS001

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

ISIN:             ZAE000322582
Alpha code:       UBS001

Notification Redemption of Early Termination Event for UBS Autocallable Note
linked to the SPX and UKX Indices – 90% barrier (the "Notes")

UBS AG, as Issuer of the UBS Autocallable Note linked to the SPX and UKX
Indices – 90% barrier (the "Notes"), hereby notifies holders of an Early
Termination event for the above Autocallable Note which will occur on
Observation Date Tuesday,28 May 2024.

On Tuesday, 28 May 2024 (Early Termination Observation Date), the conditions
for early exercise will be observed.

An Early Termination Event will be deemed to have occurred if the Calculation
Agent determines that on the Early Termination Observation Date the Index
Closing Level of each of the Indices listed below, is equal to or greater
than its respective Mandatory Early Termination Level.

If an Early Termination Event occurs with respect to an Early Termination
Observation Date, the Notes will redeem early; the Early Termination Amount
will be paid in respect of each Note of a nominal amount equal to the
Calculation Amount.

Should the above conditions be met, the Note will automatically exercise and
terminate. The Note would be suspended from trading effective, Friday, 31
May 2024.

Underlyings and Levels (on the Pricing Date):

 Index   Weight     Initial        Contingent   Mandatory Early      Knock-In
                      Level      Coupon Level       Termination         Level
                                                          Level
                      Index      90% of the          90% of the    60% of the
                    Closing   Index Closing       Index Closing         Index
                      Level           Level               Level       Closing
                                                                        Level
 SPX        50%    4,179.83         3,761.847         3,761.847     2,507.898
 UKX        50%    7,446.14         6,701.526         6,701.526     4,467.684

Important information relating to the Early Termination and payment:

Rate of Interest:                                     13.00%
Contingent Interest Amount:                           13000 cents
Capital payment (Calculation Amount):                 100000 cents
Total Cash Redemption Amount:                         113000 cents
Update announcement published on SENS by 11:00        Thursday, 30 May 2024
Last Day to Trade:                                    Thursday, 30 May 2024
Suspension Date:                                      Friday, 31 May 2024
Record Date:                                          Tuesday, 04 June 2024
Payment Date:                                         Wednesday, 05 June 2024
Autocall Early Termination Date:                      Thursday, 06 June 2024

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/products

Johannesburg
14 May 2024

Sponsor: UBS South Africa (Pty) Limited

Date: 14-05-2024 11:00:00
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