UBS AG LONDON BRANCH - Listing of UBS Actively Managed Notes linked to the SBT Global Flexible Portfolio

Listing of UBS Actively Managed Notes linked to the SBT Global Flexible 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 SBT Global Flexible
Portfolio.

The JSE Limited has granted UBS AG approval for the listing of UBS Portfolio
Notes (the "Notes") linked to the SBT Global Flexible 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. More information about Numoro can be found at
https://www.numoro.co.za/. Numoro is regulated by the Financial Services
Conduct Authority with license number 52670.

The AMC 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 potential for future growth.

By employing a set of objective, quantitative criteria, the approach
eliminates emotional biases from the investment process, ultimately enhancing
decision-making. Investors obtain exposure to a global and local portfolio
of high-quality, undervalued companies that are likely to deliver superior
returns to investors over the long term, listed on the JSE.

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 SYNTHETIC CURRENCY   USD, EUR, and GBP
ACCOUNTS:

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 24) is issued under the Information Memorandum of UBS
AG. Trading will commence on Wednesday, 05 April 2023.

INSTRUMENT NUMBER:          108062
ALPHA CODE:                 SBTGFP
ISIN:                       ZAE000320818
ISSUE SIZE (UNITS):         1,000,000
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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