UBS AG - Listing of UBS Autocallable Note linked to the SX5E; NKY; SPX and the SMI Index Series 12

Listing of UBS Autocallable Note linked to the SX5E; NKY; SPX and the SMI Index – Series 12

UBS AG, London Branch
("UBS AG" or the "Company")
(Incorporated and domiciled in Switzerland)
(Registration number: CHE-101.329.561)

Listing of UBS Autocallable Note linked to the SX5E; NKY; SPX and the SMI
Index (the "Notes") – Series 12.

The JSE Limited has granted UBS approval for the listing of the Autocallable
Note linked to the EURO STOXX 50 Index, the Nikkei 225 Index, the Swiss
Market Index and the Standard & Poors 500 Index due 2031.

An autocallable is a structured product which pays investors return payments,
subject to an underlying reference asset(s) being at or above a specified
level. The products have a fixed maximum tenor; however, the tenor may be
shorter if the product is called. The product has set observation dates on
which the return payments are made, and the product can be called early. The
return paid by the product is financed by a short position in a put option.
The put option has a tenor that matches the maximum tenor of the product.

The Notes are a notional rand denominated structured product referencing
global indices. This product offers a return if on any Observation Date all
Underlyings close at or above the Contingent Coupon Level. In this case, the
investor will receive a fixed payment for every observation period that has
passed since inception. The product also allows for early redemption before
expiry, with the investor receiving back their invested capital on top of
the relevant return for the relevant period if all Underlyings close at or
above a specific Mandatory Early Termination Level on any Early Termination
Observation Date.

If no Early Termination Event occurs, the investor will receive 100% of the
Nominal on the Redemption Date provided none of the Knock-In Levels have
been breached on the Expiration Date.

If at least one of the Underlyings closes below its respective Knock-In Level
at expiry, the redemption value will reflect the performance of the worst
performing Underlying.

This listing is issued under the Information Memorandum of UBS AG. Trading
will commence on Friday, 28 February 2025.

INSTRUMENT NUMBER:          119938
ALPHA CODE:                 UBGPAI
ISIN:                       ZAE000343661
ISSUE SIZE (UNITS):         100,000 (unit quotation)
ISSUE PRICE (RAND):         1,000 per Note

UNDERLYING INDICES:         EURO STOXX 50 Index
                            (Bloomberg: SX5E Index) ("Index 1")

                            Nikkei 225 Index
                            (Bloomberg: NKY Index) ("Index 2")

                            Standard and Poor's 500 Index
                            (Bloomberg: SPX Index) ("Index 3")

                            Swiss Market Index
                            (Bloomberg: SMI Index) ("Index 4")

LISTING DATE:               28 February 2025
EXPIRY DATE:                24 February 2031

Underlyings and Levels (on Pricing Date):
 Index        Initial       Contingent    Mandatory Early        Knock-In
                Level     Coupon Level        Termination           Level
                                                    Level
        Index Closing       85% of the        100% of the      65% of the
                Level    Index Closing      Index Closing   Index Closing
                                 Level              Level           Level
 SX5E      5,493.4000       4,669.3900         5,493.4000      3,570.7100
 NKY      39,149.4300      33,277.0155        39,149.4300     25,447.1295
 SPX       6,114.6300       5,197.4355         6,114.6300      3,974.5095
 SMI      12,839.8700      10,913.8895        12,839.8700      8,345.9155

Observation Date(s):

n    Date
1    23 February 2026
2    22 February 2027
3    14 February 2028
4    26 February 2029
5    25 February 2030
6    24 February 2031

Early Termination Observation Date(s):

n    Date
1    23 February 2026
2    22 February 2027
3    14 February 2028
4    26 February 2029
5    25 February 2030

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
27 February 2025

Sponsor: UBS South Africa (Pty) Limited

Date: 27-02-2025 03:00:00
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.