Notification of Adjustment Event on UBS Long/Short Certificates on Naspers and Prosus (Long) vs. Tencent (Short) UBS AG, London Branch (“UBS AG” or the “Company”) (Incorporated and domiciled in Switzerland) (Registration number: CHE-101.329.561) Notification of Adjustment Event on UBS Long/Short Certificates on Naspers Limited (Long) and Prosus NV (Long) vs. Tencent Holdings Limited (Short) – Series 88 and 90 only. Certificateholders of UBS Long/Short Certificates on Naspers Limited (Long) and Prosus NV (Long) vs. Tencent Holdings Limited (Short) are hereby advised of an Amendment Event that supersedes the Final Terms dated 19 March 2020. The purpose of this Amended and Restated Final Terms relating to Alpha Code UBNPNR (series 88) is to amend the Cash Component from 2,389.83 to 3,465.62; and the Issue Price will change from 825.25 to 1,901.04. For Alpha Code UBNPNT (series 90), the Cash Component will change from 919.07 to 1,771.37 and the Issue Price will change from 641.52 to 1,493.82. These listings are issued under the JSE Information Memorandum for the Issuance of South African Securities up to an authorised amount of ZAR 14 000 000 000. Effective date of the adjustment: Wednesday, 25 March 2020. INSTRUMENT NUMBER: 90613 ALPHA CODE: UBNPNR ISIN: ZAE000285599 ISSUE SIZE (UNITS): 1,000,000 ISSUE PRICE (RAND/UNIT): 1901.04 UNDERLYING EQUITIES: Naspers Limited Prosus NV Tencent Holdings Limited LISTING DATE: 19 March 2020 EXPIRY DATE: 08 April 2021 INSTRUMENT NUMBER: 90610 ALPHA CODE: UBNPNT ISIN: ZAE000285565 ISSUE SIZE (UNITS): 250,000 ISSUE PRICE (RAND/UNIT): 1,493.82 UNDERLYING EQUITIES: Naspers Limited Prosus NV Tencent Holdings Limited LISTING DATE: 19 March 2020 EXPIRY DATE: 08 April 2021 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 25 March 2020 Sponsor: UBS South Africa (Pty) Limited Date: 25-03-2020 10:10:00 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.