UBS AG LONDON BRANCH - Listing of UBS Actively Managed Exchange Traded Notes

Listing of UBS Actively Managed Exchange Traded Notes

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 Exchange Traded Notes linked to the Reitway
Active Global Property Note – Series 15.

The JSE Limited has granted UBS approval for the listing of UBS Portfolio
Notes linked to the Reitway Active Global Property Note (the "Reference
Portfolio") due 18 March 2025.

The Reference Portfolio is a notional South African Rand denominated
reference portfolio, created, actively managed and maintained by Absa Bank
Limited (the "Reference Portfolio Advisor").

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.

The Reference Portfolio Advisor will delegate the management of the
Reference Portfolio to Reitway Global (Pty) Ltd (the "Delegated Reference
Portfolio Advisor"). More information about Reitway Global (Pty) Ltd can be
found at www.reitwayglobal.com. Reitway Global (Pty) Ltd is regulated by
the Financial Sector Conduct Authority (Licence No. 43747).

Please note that the Delegated Reference Portfolio Advisor may not only act
as Delegated Reference Portfolio Advisor with regard to the Reference
Portfolio, but may at the same time act as asset manager or financial
consultant with regard to investors in the Notes, which may induce
potential conflicts between investors' interests and Delegated Reference
Portfolio Advisor's interests. The Delegated Reference Portfolio Advisor
has implemented any measures required to fully mitigate such potential
conflict of interest.

This listing is issued under the JSE Placement Document for the Issuance of
South African Securities up to an authorised amount of ZAR 14 000 000 000.
Trading will commence on Friday, 20 March 2020.

INSTRUMENT NUMBER:               90501
ALPHA CODE:                      URETGP
ISIN:                            ZAE000285458
ISSUE SIZE (UNITS):              1,000,000
ISSUE PRICE (RAND/UNIT):         100.00

UNDERLYING STOCK UNIVERSE:       Global Property Research 250 REIT Index
                                 (Bloomberg ticker: REITGLOB Index)
                                 FTSE EPRA / NAREIT Developed Rental Index
                                 Net Total Return
                                 (Bloomberg ticker: RNGR Index)

UNDERLYING EFT UNIVERSE:         IShares S&P / TSX Capped REIT ETF
                                 (Bloomberg ticker: XRE CN Equity)

LISTING DATE:                    20 March 2020
EXPIRY DATE:                     18 March 2025

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
19 March 2020

Sponsor: UBS South Africa (Pty) Limited

Date: 19-03-2020 05:00:00
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