UBS AG LONDON BRANCH - Listing of UBS Actively Managed Certificates linked to the AnBro Dynamic Compound Portfolio

Listing of UBS Actively Managed Certificates linked to the AnBro Dynamic Compound 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 Certificates linked to the AnBro Dynamic
Compound Portfolio.

The JSE Limited has granted UBS AG approval for the listing of UBS Portfolio
Notes linked to the AnBro Dynamic Compound 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:

AnBro Capital Investments (Pty) Ltd (“Anbro Capital”) is a boutique South
African asset management business which aims to use its investment knowledge
and experience to assist a select number of institutions, independent
financial advisors (IFAs) and ultra high net worth (UHNW) individuals manage
the long-term portion of their assets committed to equities in their overall
allocation model. More information about AnBro Capital can be found at
https://www.anbro.co. AnBro Capital is regulated by the Financial Services
Conduct Authority with license number 48371.

The primary aim of the AnBro Dynamic Compound Portfolio (JSE Code: ANCOMP)
is to invest in companies that pay dividends which are higher than the average
of the S&P500. The portfolio yield before costs is targeted as 4% or greater
per annum in the currency of investment. These cash flows are then reinvested
back into high yielding equities with the aim of compounding growth and
income. This portfolio is aimed at long term investors that are interested
in investments which generate and return significant amounts of cash flow
via dividends, which can in turn be used for reinvestment and compounding
over long periods of time.

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).

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.

UNDERLYING CURRENCY ACCOUNT:   USD, EUR, GBP and CAD synthetic cash
                               accounts.
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 19) is issued under the Information Memorandum of UBS
AG for the Issuance of Notes up to an authorised amount of ZAR 14,000,000,000.
Trading will commence on Tuesday, 29 November 2022.

INSTRUMENT NUMBER:          105710
ALPHA CODE:                 ANCOMP
ISIN:                       ZAE000316311
ISSUE SIZE (UNITS):         1,000,000
ISSUE PRICE (RAND/UNIT):    100.00

LISTING DATE:               29 November 2022
EXPIRY DATE:                30 November 2027

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
28 November 2022

Sponsor: UBS South Africa (Pty) Limited

Date: 28-11-2022 04:10:00
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.