UBS AG announced today that it will redeem all of the outstanding securities in each of the seven series of UBS-issued exchange traded notes set forth in the following table (collectively, the “ETNs”). UBS AG expects to deliver redemption notices with respect to each of the ETNs to holders of the applicable ETNs with Call Settlement Dates as set forth in the table below.

Table-1

ETN Ticker

ETN Name and Prospectus Supplement [1]

CUSIP

Call Settlement Date

DJCB

ETRACS Bloomberg Commodity Index Total ReturnSM ETN Series B due October 31, 2039[2]

90269A450

12/12/2024

WUCT

ETRACS Whitney US Critical Technologies ETN due March 13, 2053

90278V222

12/12/2024

AMNA

ETRACS Alerian Midstream Energy Index ETN due June 21, 2050[3]

90269A351

12/12/2024

AMND

ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050[3]

90269A252

12/12/2024

AMTR

ETRACS Alerian Midstream Energy Total Return Index ETN due October 20, 2050[3]

90269A245

12/12/2024

ESUS

ETRACS 2x Leveraged MSCI USA ESG Focus TR ETN due September 15, 2061[4]

90278V743

12/12/2024

FEDL

ETRACS 2x Leveraged IFED Invest with the FED TR Index ETN due September 15, 2061[4]

90278V750

12/12/2024

[1] The table above provides a hyperlink to the relevant prospectus and supplements thereto for each of the ETNs, which are identified by their names. Each of the above ETNs are part of the UBS AG’s Medium Term Notes, Series B, on which UBS AG is sole obligor. Capitalized terms used but not defined in this press release shall have the meanings ascribed to such terms in the relevant prospectus supplement (including, as applicable, any product supplement and pricing supplement (each such supplement, a “prospectus supplement”)) for the ETNs.

[2] The prospectus addendum with a link to the updated base prospectus and the changes to the section entitled “Early Redemption” on page S-3 of the prospectus supplement can be accessed here.

[3] The prospectus addendum with a link to the updated base prospectus can be accessed here.

[4] The prospectus addendum with a link to the updated base prospectus can be accessed here.

With respect to the ETNs represented by tickers WUCT, AMNA, AMND, AMTR, ESUS and FEDL, the Call Settlement Amount payable on the Call Settlement Date will be calculated as specified in the relevant prospectus supplement. UBS will pay the applicable Call Settlement Amount to investors holding such ETNs on the applicable Call Settlement Date.

With respect to the ETNs represented by ticker DJCB, the Redemption Amount payable on the Call Settlement Date will be calculated as specified in the relevant prospectus supplement. UBS will pay the Redemption Amount to investors holding such ETNs on the applicable Call Settlement Date.

We expect that the last day of trading for the ETNs will be December 11, 2024.

Additional details regarding the redemption dates and valuation dates are included in Table-2 below.

Table-2

ETN Ticker

Call Measurement Period

Call Measurement Period Start Date & Call Measurement Period End Date

Call Valuation Date

Call Settlement Date

DJCB*

1 Trading Day

12/09/2024

12/09/2024

12/12/2024

WUCT

1 Index Business Day

12/09/2024

12/09/2024

12/12/2024

AMNA

1 Index Business Day

12/09/2024

12/09/2024

12/12/2024

AMND

1 Index Business Day

12/09/2024

12/09/2024

12/12/2024

AMTR

1 Index Business Day

12/09/2024

12/09/2024

12/12/2024

ESUS

1 Index Business Day

12/09/2024

12/09/2024

12/12/2024

FEDL

1 Index Business Day

12/09/2024

12/09/2024

12/12/2024

* The Call Measurement Period and Call Valuation Date in this table refers to the Valuation Date as defined in the Securities represented by ticker DJCB.

As disclosed in more detail in the applicable prospectus supplement(s) for the ETNs, the market value of the ETNs may be influenced by, among other things, supply and demand for the ETNs. It is possible that the discontinuance of further issuances of the ETNs by UBS AG may influence the market value of the ETNs. The suspension of new issuances of the ETNs could affect the liquidity of the market for the ETNs, potentially leading to insufficient supply and causing the ETNs to trade at a premium above their closing or intraday indicative value. Any such premium may subsequently decrease at any time and for any reason without warning, resulting in financial loss to sellers who paid this premium when they acquired their ETNs. In addition, on the applicable Call Settlement Date, holders will receive the Call Settlement Amount or Redemption Amount, as applicable, as described in each applicable prospectus supplement but will not receive any premium thereto. Accordingly, investors who purchase the ETNs at any time prior to the Call Settlement Date for an amount that is greater than the Call Settlement Amount or Redemption Amount, as applicable (including paying any premium to the indicative value of the ETNs), will suffer a loss on their investment if they hold their ETNs until the Call Settlement Date.

If investors elect to redeem any such ETNs, any redemption will be at the redemption value set forth in the applicable prospectus supplement(s) and will not include any premium above that value. Investors should always consult their financial advisors and compare the intraday indicative value of the ETNs with the ETNs’ then-prevailing market price before purchasing or selling any such ETNs, especially notes with premium characteristics. The applicable prospectus supplement(s) for the ETNs can be accessed by clicking on the name of the ETN identified in the table above as well as on the SEC's website at sec.gov.

This announcement does not affect the terms of the outstanding ETNs, including the right of holders to require UBS AG to redeem their ETNs on the terms and at the redemption price set forth in the applicable prospectus supplement(s). This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these ETNs in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” that are subject to risks and uncertainties, and actual results may differ materially. These statements could contain words such as “possible,” “intend,” “will,” “may,” “intends,” “would,” “if,” “expect,” “potentially” or other similar expressions. Forward-looking statements, including those relating to UBS AG’s plans for the ETNs, are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. While these forward-looking statements represent UBS’s judgments, expectations and objectives concerning the matters described, a number of risks, uncertainties and other important factors, including whether UBS AG will actually complete the redemption of the ETNs, could cause actual developments and results to differ materially from UBS’s expectations. For a discussion of the risks and uncertainties that may affect the ETNs please refer to the "Risk Factors" in the applicable prospectus supplement(s) relating to the ETNs referenced in Table-1. UBS is not under any obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

About ETRACS ETNs

ETRACS ETNs are senior unsecured notes issued by UBS AG, are traded on NYSE Arca, and can be bought and sold through a broker or financial advisor. An investment in ETRACS ETNs is subject to a number of risks, including the risk of loss of some or all of the investor’s principal, and is subject to the creditworthiness of UBS AG. Investors are not guaranteed any coupon or distribution amount under the ETRACS ETNs. Prior to making an investment in the ETRACS ETNs, investors should take into account whether or not the market price is tracking the intraday indicative value of the ETRACS ETNs. We urge you to read the more detailed explanation of risks described under “Risk Factors” in the applicable prospectus supplement for each ETRACS ETN.

UBS AG has filed a registration statement (including a prospectus and supplements thereto) with the Securities and Exchange Commission, or SEC, for the offerings of securities to which this communication relates. Before you invest, you should read the prospectus, along with the applicable prospectus supplement(s) to understand fully the terms of the ETNs and other considerations that are important in making a decision about investing in the ETNs. The applicable offering document for each ETN may be obtained by clicking on the name of each ETNs identified above. You may also get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. The securities related to the offerings are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency of the United States, Switzerland or any other jurisdiction.

About UBS

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages $5.7 trillion of invested assets as per fourth quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

In the US, securities underwriting, trading and brokerage activities and M&A advisor activities are provided by UBS Securities LLC, a registered broker/dealer that is a wholly owned subsidiary of UBS AG, a member of the New York Stock Exchange and other principal exchanges, and a member of SIPC (http://www.sipc.org/). UBS Financial Services Inc. is a registered broker/dealer and affiliate of UBS Securities LLC.

This material is issued by UBS AG and/or any of its subsidiaries and/or any of its affiliates ("UBS"). This document was produced by and the opinions expressed are those of UBS as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of UBS to any person to buy or sell any security. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but UBS does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof. Products and services mentioned in this material may not be available for residents of certain jurisdictions. Past performance is not necessarily indicative of future results. Please consult the restrictions relating to the product or service in question for further information.

Bloomberg is not affiliated with UBS. UBS assumes sole responsibility for this press release, which has not been reviewed by Bloomberg. None of Bloomberg, UBS AG, UBS Securities LLC or any of their subsidiaries or affiliates (collectively, "Bloomberg or UBS") guarantees the accuracy and/or the completeness of the Bloomberg Commodity Indexsm or any data related thereto and neither of Bloomberg or UBS shall have any liability for any errors, omissions or interruptions therein. Neither of Bloomberg or UBS makes any warranty, express or implied, as to results to be obtained by owners of the securities or any other person or entity from the use of the Bloomberg Commodity Index sm or any data related thereto. Neither of Bloomberg or UBS makes any express or implied warranties and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Bloomberg Commodity Indexsm or any data related thereto. Without limiting any of the foregoing, to the maximum extent allowed by law, Bloomberg, its licensors (including UBS), and its and their respective employees, contractors, agents, suppliers and vendors shall have no liability or responsibility whatsoever for any injury or damages— whether direct, indirect, consequential, incidental, punitive or otherwise—arising in connection with the Bloomberg Commodity Indexsm or any data or values relating thereto—whether arising from their negligence or otherwise, even if notified of the possibility thereof. There are no third-party beneficiaries of any agreements or arrangements among Bloomberg and UBS Securities LLC, other than UBS AG.

The securities referred to herein are not sponsored, endorsed, issued, sold or promoted by MSCI, and MSCI bears no liability with respect to any such securities or any index on which such securities are based. The respective ETN prospectus contains a more detailed description of the limited relationship MSCI has with UBS.

Alerian Midstream Energy Index, Alerian Midstream Energy Dividend Index, AMNA, AMNTR and AEDW are trademarks of VettaFi and their use is granted under a license from VettaFi. VetttaFi owns and administers the Alerian Index Series.

Solactive AG (“Solactive”) is the licensor of Solactive Whitney U.S. Critical Technologies CNTR Index (the “Index”). The Index has been developed in cooperation with J.H. Whitney Data Services, LLC (“J.H. Whitney”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive or J.H. Whitney in any way and Solactive or J.H. Whitney make no express or implied representation, guarantee or assurance with regard to: (a) the advisability of investing in the financial instruments; (b) the quality, accuracy and/or completeness of the Index; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index. Solactive or J.H. Whitney do not guarantee the accuracy and/or the completeness of the Index and shall not have any liability for any errors or omissions with respect thereto. The Index has not been designed to achieve positive returns and neither Solactive nor J.H. Whitney is acting as a fiduciary or investment adviser for any user of the Index or investor in any financial instrument based on the Index. Notwithstanding Solactive’s obligations to its licensees, Solactive reserves the right to change the methods of calculation or publication with respect to the Index and Solactive or J.H. Whitney shall not be liable for any miscalculation of or any incorrect, delayed or interrupted publication with respect to the Index. Solactive or J.H. Whitney shall not be liable for any damages, including, without limitation, any loss of profits or business, or any special, incidental, punitive, indirect or consequential damages suffered or incurred as a result of the use of (or inability to use) the Index.

Economic Index Associates, LLC (“EIA”) outsources the end-of-day and real-time calculation of its IFED™ indexes that serve as the basis for investment products. Third party index calculators that publish and distribute EIA indexes strive to the best of their ability to ensure the correctness of the calculations. There is no obligation for EIA—irrespective of possible obligations to issuers—to advise third parties, including investors and/or financial intermediaries, of any errors in any of the indexes that are calculated on a real-time basis. The publication and distribution of any IFED™ indexes that are calculated on a real-time basis and that serve as the basis for products licensed by EIA are not intended as a recommendation for capital investment and does not contain any assurance or opinion of EIA regarding a possible investment in a financial instrument based on an Index.

UBS specifically prohibits the redistribution or reproduction of this communication in whole or in part without the prior written permission of UBS and UBS accepts no liability whatsoever for the actions of third parties in this respect.

© UBS 2024. The key symbol, UBS and ETRACS are among the registered and unregistered trademarks of UBS. Other marks may be trademarks of their respective owners. All rights reserved.

1 Individual investors should instruct their broker/advisor/custodian to call us or should call together with their broker/advisor/custodian.

Media contact Alison Keunen +1 212 713 2296 alison.keunen@ubs.com

Institutional Investor contact1 +1-877-387 2275

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