Results of the vote on the Resolution to amend the Terms of the Notes linked to Absa re Efficient Portfolio UBS AG, London Branch ("UBS AG" or the "Company") (Incorporated and domiciled in Switzerland) (Registration number: CHE-101.329.561) Results of the vote on Resolution regarding the amendments to the Terms of UBS Portfolio Notes ("Notes”) linked to the actively managed Reference Portfolio issued on 26 February 2018 Alpha Code: UEFPCA ISIN: ZAE000255477 Reference Portfolio Absa re Efficient Portfolio 1 Portfolio Further to its announcement of 14 March 2023, UBS AG hereby informs that the amendments to the Terms of the Notes were approved by the 75% majority of the Noteholders voting in favour of the Resolution described below. Background of the Extraordinary Resolution: Noteholders of the above mentioned Notes issued on 26 February 2018 ("Noteholders") are referred to the announcement dated 14 March 2023 where Noteholders were requested to vote in favour of the extension of the Expiration Date of the Notes. Noteholders were requested to consider and, if deemed appropriate, to approve the following resolution in order to effect the Amendments ("Resolution"): "Extraordinary Resolution: It is hereby resolved that paragraph 9 of the amended and restated terms dated 7 May 2021 be amended, with retrospective effect from 9 February 2023, as follows: "(i) Maturity Date: The third Business Day immediately following the Expiration Date (as such date may be adjusted in accordance with the Additional Provisions in paragraph 46 (Additional Provisions) below). (ii) Expiration Date: Subject to the Notes not having already been redeemed early and/or cancelled in accordance with the Conditions, and to the Additional Provisions in paragraph 46 (Additional Provisions) below, 10 February 2023 (subject to Market Disruption Events provisions, Early Termination, Automatic Early Termination, Stop Loss Event provisions and Unwind Disruption provisions), subject to extension at the option of the Issuer on two separate occasions, on each such occasion for an additional 5 years period (from the initial scheduled Expiration Date stated above or from the extended Expiration Date when relevant, each such date the "Original Expiration Date"), with a notice period of 90 calendar days prior to the relevant Original Expiration Date. With respect to an extension of the term in accordance with the above paragraph, the Noteholder may, in respect of 100% of the Notes it owns, elect to redeem such Notes on the Redemption Date following the relevant Original Expiration Date (and the relevant Notes shall be redeemed on such date at the Optional Redemption Amount) (such option for the Investor, the "Expiration Extension Termination Option") by providing notice to the Issuer between the Last Date to Trade and the relevant Original Expiration Date. Provided in each case, that if the initial scheduled or relevant extended Expiration Date is not a Constituents Business Day, then the first following day that is a Constituents Business Day shall apply."" As a result of the adoption of the Extraordinary Resolution the following amendments are also effective with respect to the Notes: Product Long Name: UBS EFPCA 15Feb28 Expiration Date: 15 February 2028 For further information regarding the contents of this announcement, please contact: UBS KeyInvest South Africa Tel.: +27 11 322 7129 / 7317 E-mail: keyinvestza@ubs.com Web: http://keyinvest-za.ubs.com/AMC Johannesburg 09 May 2023 Sponsor: UBS South Africa (Pty) Ltd Date: 09-05-2023 03:45:00 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.