UBS AG LONDON BRANCH - Listing of UBS Actively Managed Certificate linked to the EFPC Local Model Portfolio

Listing of UBS Actively Managed Certificate linked to the EFPC Local Model 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 EFPC Local Model
Portfolio.

The JSE Limited has granted UBS AG approval for the listings of UBS Portfolio
Notes (the "Notes") linked to the EFPC Local Model 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

Efficient Private Clients (EFPC) is an advisor-centric, global investment
specialist firm for high net-worth individuals. Efficient Private Clients
team consists of market-, economic- and planning experts that assist clients
in making better asset allocation decisions, across different geographies,
to ultimately co-create more wealth with their clients. This is done through
high-touch, quality relationships that add to the competencies of the
advisors they partner with and the clients they serve.

The EFPC AMC's universe of investable assets will include shares listed in
Developed Markets and on the Johannesburg Stock Exchange. The portfolio will
attempt to outperform the JSE All Share index (J203) by employing a Momentum
based strategy.

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 UNIVERSE:        FX Forwards exposed to G10 currencies and
                               ZAR may be incorporated as FX Constituents
                               in the Reference Portfolio.

UNDERLYING CURRENCY ACCOUNT:   USD, EUR, GBP synthetic cash 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 34) is issued under the Information Memorandum of UBS
AG. Trading will commence on Wednesday, 20 September 2023.

INSTRUMENT NUMBER:          111363
ALPHA CODE:                 UEFPCL
ISIN:                       ZAE000326617
ISSUE SIZE (UNITS):         1,000,000
ISSUE PRICE (RAND/UNIT):    100.00

LISTING DATE:               20 September 2023
EXPIRY DATE:                19 September 2028

SECTOR:                     Specialist Securities
SUB-SECTOR:                 Actively Managed Certificates

FOREIGN STATUS:             The Note is 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
19 September 2023

Sponsor: UBS South Africa (Pty) Limited
Date: 19-09-2023 02:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.