UBS AG LONDON BRANCH - Listing of UBS Actively Managed Certificate linked to the Maven Endeavour Portfolio

Listing of UBS Actively Managed Certificate linked to the Maven Endeavour 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 Maven Endeavour
Portfolio

The JSE Limited has granted UBS AG approval for the listing of UBS Portfolio
Notes linked to the Maven Endeavour 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:

Maven Insight Capital (Pty) Ltd is a private investment firm offering global
wealth investment solutions and niche investment products.    The investment
strategy is a high conviction South African equity strategy, which targets
absolute net returns of 25% per annum over a five-year investment period.
Performance is benchmarked against the FTSE/JSE Africa All Share Index.


Investment universe:

UNDERLYING STOCK UNIVERSE:     Shares listed on the Main Board of the
                               Johannesburg Stock Exchange.

UNDERLYING ETF UNIVERSE:       ETFs listed on the Main Board of the
                               Johannesburg Stock Exchange that are
                               treated as Domestic as per the SARB
                               Classification.


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 56) is issued under the Information Memorandum of UBS
AG. Trading will commence on Friday, 05 December 2025.

INSTRUMENT NUMBER:           124356
ALPHA CODE:                  MAVEND
ISIN:                        ZAE000354965
ISSUE SIZE (UNITS):          1,000,000
ISSUE PRICE (RAND/UNIT):     100.00

LISTING DATE:                05 December 2025
EXPIRY DATE:                 30 November 2032

SECTOR:                      Specialist Securities
SUB-SECTOR:                  Actively Managed Certificates

FOREIGN STATUS:              The Notes are classified as Domestic 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
04 December 2025

Sponsor: UBS South Africa (Pty) Limited

Date: 04-12-2025 04:00:00
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