Earnings release
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 1 of 15 Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules UBS reports 2Q26 net profit of USD 2.8bn and USD 5.8bn for 1H26 with robust momentum across businesses; Group invested assets at USD 7.3trn “Almost three years ago, we presented our first set of consolidated results. From the beginning, I made it clear that the acquisition of Credit Suisse was not a gift that we received, but rather a prize that we would all have to fight to win. As expected, the journey was not a straight line. It required a lot of hard work from my colleagues and painful decisions. Now these efforts are paying off and the extraordinary patience and support of our shareholders is starting to be rewarded. Strong results in the second quarter and healthy capital generation have further fortified our balance sheet for all seasons and allow us to continue deploying financial resources towards profitable growth opportunities to support clients and deliver on our capital return ambitions. We are well positioned to outperform our 2026 exit-rate return target and achieve our exit-rate cost/income ratio target. We remain firmly focused on staying close to our clients, completing the integration, executing our growth plans and managing risk with discipline – all while remaining a trusted partner in the communities where we live and work.” Sergio P. Ermotti, Group CEO Selected financials for 2Q26 USD 2.8bn Net profit 15.4% RoCET1 capital USD 3.6bn Profit before tax 72.9% Cost/income ratio 14.4% CET1 capital ratio USD 0.87 Diluted EPS 16.4% Underlying1 RoCET1 capital USD 3.9bn Underlying1 profit before tax 70.0% Underlying1 cost/income ratio 4.4% CET1 leverage ratio Highlights 2Q26 PBT of USD 3.6bn and underlying1 PBT of USD 3.9bn, net profit of USD 2.8bn, RoCET1 of 15.4% and underlying1 RoCET1 of 16.4%. Core businesses2 delivered 47% increase in underlying1 PBT YoY on a combined basis 1H26 PBT of USD 7.4bn and underlying1 PBT of USD 7.9bn, net profit of USD 5.8bn, RoCET1 of 16.1% and underlying1 RoCET1 of 16.7% Strong client momentum across our businesses; Global Wealth Management 2Q26 net new assets of USD 36bn and USD 73bn in 1H26, Asset Management 2Q26 net new money of USD 6bn and USD 20bn in 1H26; GWM 2Q26 underlying transaction-based income up 23% YoY and Investment Bank 2Q26 underlying revenues up 31% YoY Integration on track for completion by YE26; decommissioning plans well advanced, with more than 90% of legacy applications no longer in use and ~70% already fully decommissioned. Delivered an additional USD 1.1bn in gross cost savings in 2Q26, bringing cumulative gross savings to USD 12.6bn and on track to deliver USD ~13.5bn by YE26 A reliable partner for the Swiss economy; granted or renewed CHF ~40bn of loans to Swiss businesses and households in 2Q26 as we continue to support clients with our leading credit offering and unique global capabilities and footprint; Personal & Corporate Banking 2Q26 net new loans of CHF 2.2bn and CHF 4.6bn in 1H26; positive net new clients in P&C in 2Q26 Maintaining strong capital position and balance sheet for all seasons; CET1 capital ratio of 14.4% and CET1 leverage ratio of 4.4%; accruing for mid-teens percentage growth in dividend and completed our latest share repurchase program in July; continuing with another share repurchase program of USD 3bn which we intend to complete at the latest by the end of 2Q27 and which is already reflected in our CET1 capital. We plan to repurchase at least USD 1bn of shares over the next three months 3 Strategically in vesting in our franchise to drive long- term growth; continued investments in technology, global capabilities and talent while contributing to fact-based deliberations on the Swiss capital framework I nformation in this news release is presented for UBS Group AG on a consolidated basis unless otherwise specified. 1 Underlying results exclude items of profit or loss that management believes are not representative of the underlying performance. Underlying results are a non-GAAP financial measure and alternative performance measure (APM). Refer to “Group Performance” and “Appendix- Alternative Performance Measures” in the UBS Group 30 June 2026 Interim Report for a reconciliation of underlying to reported results and definitions of the APMs; 2 Includes Global Wealth Management, Personal & Corporate Banking, Asset Management, the Investment Bank and Group Items; 3 The amount and pace of share repurchases will remain subject to our short-term financial performance and outlook, maintaining a CET1 capital ratio of around 14% and further visibility on the deliberations by the Swiss Parliament on the capitalization of foreign subsidiaries.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 2 of 15 Second quarter 2026 performance overview Strong financial performance driven by franchise strength and robust client momentum across our businesses In 2Q26, we reported a profit before tax (PBT) of USD 3,594m and USD 3,887m on an underlying basis, up 64% YoY and 45% YoY, respectively. Our strong second quarter results underscore our earnings power, with broad-based growth across each of our core businesses, led by Global Wealth Management and the Investment Bank. This balanced performance reflects continued client momentum, the breadth of our capabilities, and the durable benefits of the integration. Reported revenues were USD 13,700m, up 13% YoY. On an underlying basis, revenues increased by 16% to USD 13,348m, driven by a 14% YoY increase in revenues in our core businesses. Global Wealth Management (GWM) underlying revenues increased 14% YoY to USD 6,997m with double -digit YoY growth across all revenue lines. The Investment Bank (IB) delivered excellent results, generating record second quarter revenues. Global Markets also delivered a record second quarter, with underlying revenues of USD 3,008m, up 31% YoY, driven by our best quarter on record in Equities, Execution Services and Financing, with strong regional contributions from APAC and the Americas. Global Banking underlying revenues increased by 33% YoY to USD 693m, driven by standout performance in Capital Markets with notable strength in LCM, where revenues more than doubled YoY, alongside strong performances in both ECM and DCM. Group invested assets reached a record USD 7.3trn at the end of the quarter. GWM net new assets (NNA) for the quarter totaled USD 36bn, representing a 3% annualized growth rate and contributing to a 6% increase in invested assets QoQ, led by robust flows i n Switzerland, EMEA and APAC. In the Americas, strong same -store performance drove NNA of USD 1bn despite approximately USD 10bn of seasonal tax -related outflows. GWM net new fee generating assets for the quarter reached USD 13bn with strong demand for our CIO-led solutions. Net new money (NNM) for the quarter in Asset Management (AM) was USD 6bn, driven by our separately managed account (SMA) and ETF offerings as well as Unified Global Alternatives. We also continued to support businesses and households in Switzerland with our global reach, advice and expertise. We granted or renewed CHF ~40bn of loans to Swiss businesses and households in 2Q26 as we remain a leading provider of credit to the Swiss economy. Integration on track to be substantially completed by the end of this year With the completion of the global migration of former Credit Suisse client accounts to UBS infrastructure in March 2026, we entered the final phase of the integration. We delivered another USD 1.1bn of gross cost reductions in 2Q26, bringing the cumulative gross cost savings since the end of 2022 to USD 12.6bn. This represents over 90% of our total gross cost savings ambition and keeps us firmly on track to achieve our USD ~13.5bn ambition by the end of 2026. As of 30 June 2026, more than 90% of legacy Credit Suisse IT applications in scope for decommissioning were no longer in use and around 70% of such applications had already been fully decommissioned. We are on track to substantially complete the integration by the end of the year and we are well positioned to outperform our 2026 exit rate return on CET1 capital target of ~15% and achieve our 2026 exit rate cost/income ratio target of <70% with potential for incremental improvement. Maintained strong capital position and balance sheet for all seasons Our financial performance in the first half of 2026 has resulted in strong capital generation, further fortifying our capital position with a CET1 capital ratio of 14.4% and a CET1 leverage ratio of 4.4%, both above our guidance of ~14% and >4.0%, respectively. Our strong capital position allows us to continue deploying resources towards profitable growth opportunities to support clients and deliver on our capital return ambitions. This includes accruing for mid-teens percentage growth in our dividend in the seco nd quarter. We also completed our latest share repurchase program in July. We are continuing with another share repurchase program under which we intend to repurchase USD 3bn of shares at the latest by the end of the second quarter of 2027, and for which a reserve for the full amount is reflected in our CET1 capital as of 30 June 2026. We plan to repurchase at least USD 1bn of shares over the next three months. The amount and pace of share repurchases will remain subject to our short-term financial performance and outlook, maintaining a CET1 capital ratio of around 14% and further visibility on the deliberations by the Swiss Parliament on the capitalization of foreign subsidiaries.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 3 of 15 Strategically investing in our franchise to drive long-term growth and position UBS for the future We remain focused on investing in technology, including AI, as well as our capabilities and talent, to position UBS for the future as we enhance our client experience, further strengthen our infrastructure and increase efficiency. We continue to progress our 9 large-scale, end-to-end transformational AI initiatives and build on our 560 live AI use cases in production (92% YoY increase, with another 920+ applications in development). We also continue to provide our employees with the AI tools necessary to successfully deliver tangible outcomes for our clients and our business on a daily basis. Today, around 18,000 of our software developers are leveraging AI across the software development lifecycle, from code generation, explanation, test automation and requirement management. Over one quarter of AI-generated suggestions are being directly used in production code, enhancing productivity and speeding up development. In addition, all UBS employees now have the ability to create their own AI agents, accelerating our ability to deploy AI safely and at scale across the firm while enabling our people to spend more time on judgement, collaboration, and delivering value for clients. To further support AI literacy and practical adoption, we recently launched AI Power Hour, an initiative that reserves one hour each week for employees to build their AI skills with a focus on continuous improvement within their day-to-day work and enhancing outcomes for our clients. At the same time, we are deepening our partnership with leading hyperscalers, frontier AI developers, FinTechs, data and platform providers as well as academia to drive innovation and develop transformative capabilities faster and more effectively. During the quarter we saw the official launch of the Oxford- UBS Centre for Applied Artificial Intelligence, a landmark partnership with the University of Oxford that reflects our commitment to innovation and responsible AI. The Centre brings together leading academic researchers and UBS practitioners to accelerate the practical application of AI while advancing understanding of its impact on businesses, economies and society. Through a combination of independent research and collaborative industry projects, the partnership will help translate cutting- edge AI advancements into real - world solutions and insights. The investments we are making to deliver differentiated, AI -driven solutions for clients continue to be recognized. Our IB Global Research team recently received the Celent 2026 Model Sell Side Award for GenAI Automation. This recognition reflects the succ essful deployment of generative AI across multiple workflows and the research value chain, resulting in enhanced productivity, new product development, and improved client engagement. In addition, our US flagship platform for AI-generated insights received the Celent 2026 award for Model Wealth Manager for Data, Analytics and AI. We also continue to take a client -led approach to digital assets. Our ambition is to be a trusted, regulated gateway for clients to access on-chain money, assets and markets. We are working with peers and partners across our industry to build out capabilities, core infrastructure and targeted offerings for tokenized real -world assets and digital money. In April, we joined an initiative aimed at testing selected use cases for a Swiss franc stablecoin in a secure digital live environment in Switzerland. Most recently, we successfully executed our first cross-border stablecoin-based payments for corporate clients under real-world conditions. Consistent with our focus on innovation and leveraging data and technology to improve the client experience, we recently announced a strategic partnership between our Unified Global Alternatives unit and MSCI focused on advancing transparency and standardi zation across private markets. The collaboration combines UBS’s expertise and insights as a leading Limited Partner in Alternatives with MSCI’s capabilities in independent data, analytics, models and AI -powered technology. Together, UBS and MSCI aim to address longstanding industry challenges, including fragmented data and limited transparency, while helping transform the private markets investment decision-making process for clients. UBS will also serve as an early adopter of MSCI’s AI -powered platform and collaborate with MSCI to support broader market adoption and standardization across private markets.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 4 of 15 Outlook As we enter the third quarter, market conditions remain broadly constructive, supported by healthy client engagement, the continued broadening of market leadership and historically elevated equity dispersion. At the same time, ongoing geopolitical developments and volatile energy prices lead to high levels of uncertainty around the inflation and interest rate outlook. This could contribute to changes in macroeconomic conditions, periods of elevated volatility and more measured investor sentiment. For the third quarter, in addition to seasonal factors, we expect Global Wealth Management net interest income to increase modestly, broadly in line with the sequential uptick recorded in the second quarter of 2026. In Personal & Corporate Banking, we expect net interest income to be flat to slightly higher sequentially. We are focused on maintaining a high level of engagement with our clients as we execute on the final stages of the integration and as we continue to strategically invest in our franchise to drive long-term growth.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 5 of 15 Second quarter 2026 performance overview Group PBT USD 3,594m, underlying PBT USD 3,887m PBT of USD 3,594m included PPA effects and other integration items of USD 352m and integration- related expenses and PPA effects of USD 645m. Underlying PBT was USD 3,887m, including net credit loss expenses of USD 121m. The cost/income ratio was 72.9%, and 70.0% on an underlying basis. Net profit attributable to shareholders was USD 2,800m, with diluted earnings per share of USD 0.87. Return on CET1 capital was 15.4%, and 16.4% on an underlying basis. Global Wealth Management (GWM) PBT USD 1,883m, underlying PBT USD 1,997m Total revenues increased by USD 812m, or 13%, to USD 7,112m, driven by all revenue lines, and included a USD 39m decrease in PPA effects and other integration items. Excluding USD 114m of PPA effects and other integration items, underlying total revenues w ere USD 6,997m, an increase of 14%. Net credit loss releases were USD 2m, compared with net credit loss expenses of USD 3m in the second quarter of 2025. Operating expenses increased by USD 138m, or 3%, to USD 5,231m, and included a USD 155m decrease in integration -related expenses. Excluding USD 228m of integration- related expenses and PPA effects, underlying operating expenses were USD 5,002m, an increase of 6%, mainly driven by higher variable compensation, primarily related to an increase in financial a dvisor compensation, resulting from higher compensable revenues, partly offset by net releases in provisions for litigation, regulatory and similar matters. The cost/income ratio was 73.6%, and 71.5% on an underlying basis. Invested assets increased sequentially by USD 274bn to USD 4,942bn. Net new assets were USD 35.5bn. 11,059 11,904 11,546 12,199 12,199 13,644 13,348 (9,062) (9,218) (8,701) (8,507) (9,169) (9,583) (9,340) 1,768 2,586 2,683 3,590 2,871 3,990 3,887 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Group total revenues (underlying, USD million) Group operating expenses (underlying, USD million) Group PBT³ (underlying, USD million) 5,942 6,253 6,156 6,410 6,580 6,981 6,997 (4,808) (4,702) (4,710) (4,629) (4,989) (4,998) (5,002) 1,147 1,545 1,443 1,774 1,558 1,974 1,997 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 GWM total revenues (underlying, USD million) GWM operating expenses (underlying, USD million) GWM PBT³ (underlying, USD million)
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 6 of 15 Personal & Corporate Banking (P&C) PBT CHF 676m, underlying PBT CHF 676m Total revenues decreased by CHF 4m to CHF 1,896m, reflecting lower net interest income and transaction- based income, partly offset by higher other revenues. Excluding CHF 154m of PPA effects and other integration items, underlying total revenues were CHF 1,741m, an increase of 3%. Net credit loss expenses were CHF 61m, reflecting net expenses on credit-impaired positions from a small number of corporate counterparties. Net credit loss expenses were CHF 91m in the second quarter of 2025. Operating expenses decreased by CHF 84m, or 7%, to CHF 1,159m and included a CHF 38m decrease in integration- related expenses. Excluding CHF 155m of integration- related expenses and PPA effects, underlying operating expenses were CHF 1,004m, a decrease of 4%, mainly reflecting cost synergies. The cost/income ratio was 61.1%, and 57.7% on an underlying basis. Asset Management (AM) PBT USD 214m, underlying PBT USD 237m Total revenues decreased by USD 16m, or 2%, to USD 756m, mainly due to lower performance fees and lower net management fees. Operating expenses decreased by USD 76m, or 12%, to USD 542m and included a USD 40m decrease in integration- related expenses. Excluding integration- related expenses of USD 23m, underlying operating expenses were USD 519m, a decrease of 6%, mainly due to lower non- personnel expenses, and included the effects from the O’Connor business exit. The cost/income ratio was 71.7%, and 68.7% on an underlying basis. Invested assets increased sequentially by USD 164bn to USD 2,228bn. Net new money was USD 6.3bn, and USD 10.0bn excluding money market flows and associates. 1,810 1,705 1,696 1,724 1,692 1,756 1,741 (1,083) (1,060) (1,048) (998) (1,069) (990) (1,004) 572 597 557 668 543 710 676 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 P&C total revenues (underlying, CHF million) P&C operating expenses (underlying, CHF million) P&C PBT³ (underlying, CHF million) (543) (533) (555) (560) (531) (520) (519) 766 741 772 843 800 772 756 224 208 216 282 268 252 237 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 AM total revenues (underlying, USD million) AM operating expenses (underlying, USD million) AM PBT³ (underlying, USD million)
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 7 of 15 Investment Bank (IB) PBT USD 1,150m, underlying PBT USD 1,162m Total revenues increased by USD 761m, or 26%, to USD 3,727m, due to higher revenues in Global Markets and Global Banking, partly offset by a USD 126m decrease in PPA effects. Excluding USD 26m of PPA effects and other integration items, underlying total re venues were USD 3,701m, an increase of 31%. Net credit loss expenses were USD 45m, reflecting net expenses on credit -impaired positions, which primarily related to a small number of corporate counterparties. Net credit loss expenses were USD 48m in the sec ond quarter of 2025. Operating expenses increased by USD 170m, or 7%, to USD 2,531m and included an USD 84m decrease in integration- related expenses. Excluding integration- related expenses of USD 37m, underlying operating expenses were USD 2,494m, an incre ase of 11%, mainly due to higher personnel expenses. The cost/income ratio was 67.9%, and 67.4% on an underlying basis. Return on attributed equity was 23.2%, and 23.5% on an underlying basis. Non-core and Legacy (NCL) PBT USD (203m), underlying PBT USD (52m) Total revenues were USD 43m, compared with total revenues of negative USD 82m in the second quarter of 2025, mainly reflecting lower markdowns and lower liquidity and funding costs, partly offset by lower net gains from position exits and lower net interes t income from securitized and credit products, as a result of the smaller portfolio. Net credit loss expenses were USD 0m, compared with net credit loss releases of USD 2m in the second quarter of 2025. Operating expenses were USD 246m, an increase of USD 76m, or 45%, mainly due to lower net releases in provisions for litigation, regulatory and similar matters, partly offset by lower premises and facilities costs, technology costs, and professional fees, and included a USD 102m decrease in integration -related expenses. Excluding integration- related expenses of USD 150m, underlying operating expenses were USD 96m. Group Items PBT USD (307m), underlying PBT USD (314m) 3 Also accounts for credit loss expenses/releases incurred in a given period. 2,547 3,045 2,815 3,025 2,885 3,986 3,701 (2,032) (2,314) (2,241) (2,221) (2,148) (2,705) (2,494) 452 696 526 787 703 1,216 1,162 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 IB total revenues (underlying, USD million) IB operating expenses (underlying, USD million) IB PBT³ (underlying, USD million) (606) (200) 1 102 (224) (97) (52) 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 NCL PBT³ (underlying, USD million) (96) (326) (188) (187) (113) (265) (314) 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Group Items PBT³ (underlying, USD million)
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 8 of 15 UBS’s sustainability and impact highlights During the quarter, we continued to advance our sustainability and impact agenda, as acknowledged by external recognition of our progress and significant integration milestones. UBS maintained its position in the Dow Jones Best in Class Indices, while the merger of the former Credit Suisse umbrella foundations in Switzerland into the UBS Philanthropy Foundation strengthened our philanthropic platform, and broadened our capacity to support impactful philanthropy and positive social outcomes in Switzerland. Climate Week Zurich UBS was a platinum sponsor of the inaugural Climate Week Zurich in May 2026, supporting the launch of a high- profile business-driven climate and sustainability platform in Europe. Through our own flagship events, we convened clients, employees and partners, an d brought together policymakers, scientists, financial institutions, corporates, entrepreneurs and civil- society leaders to discuss ways to advance credible climate action in Switzerland and beyond. The program highlighted UBS’s ability to connect expe rtise, capital and partnerships across sectors, with the aim of seeking practical solutions for the transition to a low-carbon economy. UBS Optimus Foundation Annual Review 2025 The UBS Optimus Foundation network 4 published its 2025 Annual Review, reporting a single -year-record of USD 472m in donations, including UBS matching contributions (up from USD 366m in 2024). The Foundation also committed USD 461m in grants (up from USD 310m in 2024). By reaching 9.3 million people globally, including 3 million children, the Foundation demonstrates how innovative financing, strong partnerships and scalable solutions can help drive social and environmental impact. Future of Work Fund The UBS Optimus Foundation, both directly and through the SDG Outcomes Fund, committed additional funding to Chancen International’s Future of Work Fund. The fund uses innovative Income Share Agreements to expand access to higher education and skills training in Rwanda, Kenya and South Africa, and, to date, has already funded nearly 9,000 students 5. By helping to reduce financial barriers to education and employment, the initiative supports stronger futures for young people and reflects the UBS Optimus Foundation’s commitment to advancing education access and equity. 4 The UBS Optimus Foundation is a global network of separately organized and regulated, tax-exempt, charitable organizations, founded by UBS, that make grants and other financial contributions to implementing partner organizations aligned with their values and objectives. 5 Chancen International data as of year-end 2025, as published in the organization's 2025 Impact Report.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 9 of 15 Selected financial information of the business divisions and Group Items For the quarter ended 30.6.26 USD m Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Non-core and Legacy Group Items Total Total revenues as reported 7,112 2,399 756 3,727 43 (338) 13,700 of which: PPA effects and other integration items1 114 196 26 (1) 17 352 Total revenues (underlying) 6,997 2,204 756 3,701 44 (355) 13,348 Credit loss expense / (release) (2) 76 0 45 0 1 121 Operating expenses as reported 5,231 1,466 542 2,531 246 (31) 9,986 of which: integration-related expenses and PPA effects2 228 196 23 37 150 11 645 Operating expenses (underlying) 5,002 1,270 519 2,494 96 (42) 9,340 Operating profit / (loss) before tax as reported 1,883 857 214 1,150 (203) (307) 3,594 Operating profit / (loss) before tax (underlying) 1,997 858 237 1,162 (52) (314) 3,887 For the quarter ended 31.3.26 USD m Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Non-core and Legacy Group Items Total Total revenues as reported 7,106 2,601 772 4,054 (10) (279) 14,243 of which: PPA effects and other integration items1 125 223 68 1 55 472 of which: items related to the Swisscard transactions3 128 128 Total revenues (underlying) 6,981 2,250 772 3,986 (11) (334) 13,644 Credit loss expense / (release) 9 70 0 65 (74) 0 70 Operating expenses as reported 5,305 1,491 555 2,784 219 (21) 10,333 of which: integration-related expenses and PPA effects2 307 222 35 79 58 48 750 Operating expenses (underlying) 4,998 1,269 520 2,705 160 (69) 9,583 Operating profit / (loss) before tax as reported 1,792 1,040 217 1,205 (155) (258) 3,841 Operating profit / (loss) before tax (underlying) 1,974 911 252 1,216 (97) (265) 3,990 For the quarter ended 30.6.25 USD m Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Non-core and Legacy Group Items Total Total revenues as reported 6,300 2,336 772 2,966 (82) (180) 12,112 of which: PPA effects and other integration items1 153 274 152 1 17 596 of which: loss related to an investment in an associate (8) (23) (31) Total revenues (underlying) 6,156 2,085 772 2,815 (83) (198) 11,546 Credit loss expense / (release) 3 114 0 48 (2) 0 163 Operating expenses as reported 5,093 1,528 618 2,361 170 (13) 9,756 of which: integration-related expenses and PPA effects2 383 240 63 121 252 (4) 1,055 Operating expenses (underlying) 4,710 1,288 555 2,241 (83) (10) 8,701 Operating profit / (loss) before tax as reported 1,204 695 153 557 (250) (167) 2,193 Operating profit / (loss) before tax (underlying) 1,443 684 216 526 1 (188) 2,683 1 Includes accretion of PPA adjustments on financial instruments and other PPA effects, as well as temporary and incremental items directly related to the integration. 2 Includes temporary, incremental operating expenses directly related to the integration, as well as amortization of intangible assets resulting from the acquisition of the Credit Suisse Group. 3 Represents the gain on sale of UBS’s 50% interest in Swisscard AECS GmbH (Swisscard) that has been excluded from underlying revenues. Refer to the “Recent developments” section of the UBS Group first quarter 2026 report, available under “Quarterly reporting” at ubs.com/investors, for more information about the Swisscard transactions.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 10 of 15 Selected financial information of the business divisions and Group Items (continued) Year-to-date 30.6.26 USD m Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Non-core and Legacy Group Items Total Total revenues as reported 14,218 5,001 1,528 7,781 33 (617) 27,943 of which: PPA effects and other integration items1 240 419 94 0 72 824 of which: items related to the Swisscard transactions2 128 128 Total revenues (underlying) 13,978 4,454 1,528 7,687 33 (689) 26,991 Credit loss expense / (release) 7 147 0 110 (74) 1 191 Operating expenses as reported 10,536 2,957 1,097 5,315 465 (52) 20,319 of which: integration-related expenses and PPA effects3 536 419 58 116 208 59 1,395 Operating expenses (underlying) 10,001 2,539 1,039 5,199 257 (111) 18,923 Operating profit / (loss) before tax as reported 3,675 1,897 430 2,355 (358) (565) 7,434 Operating profit / (loss) before tax (underlying) 3,971 1,769 488 2,378 (149) (579) 7,877 Year-to-date 30.6.25 USD m Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Non-core and Legacy Group Items Total Total revenues as reported 12,722 4,547 1,513 6,149 202 (465) 24,668 of which: PPA effects and other integration items1 318 514 290 1 47 1,170 of which: loss related to an investment in an associate (5) (12) (16) of which: items related to the Swisscard transactions4 64 64 Total revenues (underlying) 12,408 3,980 1,513 5,860 201 (512) 23,450 Credit loss expense / (release) 9 167 0 83 6 (1) 263 Operating expenses as reported 10,150 3,078 1,224 4,788 838 2 20,080 of which: integration-related expenses and PPA effects3 739 432 135 233 444 (1) 1,982 of which: items related to the Swisscard transactions5 180 180 Operating expenses (underlying) 9,411 2,467 1,088 4,555 395 2 17,918 Operating profit / (loss) before tax as reported 2,563 1,302 289 1,279 (642) (465) 4,325 Operating profit / (loss) before tax (underlying) 2,988 1,347 424 1,222 (199) (513) 5,269 1 Includes accretion of PPA adjustments on financial instruments and other PPA effects, as well as temporary and incremental items directly related to the integration. 2 Represents the gain on sale of UBS’s 50% interest in Swisscard AECS GmbH (Swisscard) that has been excluded from underlying revenues. Refer to the “Recent developments” section of the UBS Group first quarter 2026 report, available under “Quarterly reporting” at ubs.com/investors, for more information about the Swisscard transactions. 3 Includes temporary, incremental operating expenses directly related to the integration, as well as amortization of intangible assets resulting from the acquisition of the Credit Suisse Group. 4 Represents the gain related to UBS’s share of the income recorded by Swisscard for the sale of the Credit Suisse card portfolios to UBS. 5 Represents the expense related to the payment to Swisscard for the sale of the Credit Suisse card portfolios to UBS.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 11 of 15 Our key figures As of or for the quarter ended As of or year-to-date USD m, except where indicated 30.6.26 31.3.26 31.12.25 30.6.25 30.6.26 30.6.25 Group results Total revenues 13,700 14,243 12,145 12,112 27,943 24,668 Credit loss expense / (release) 121 70 159 163 191 263 Operating expenses 9,986 10,333 10,286 9,756 20,319 20,080 Operating profit / (loss) before tax 3,594 3,841 1,700 2,193 7,434 4,325 Net profit / (loss) attributable to shareholders 2,800 3,040 1,199 2,395 5,840 4,087 Diluted earnings per share (USD)1 0.87 0.94 0.37 0.72 1.81 1.23 Profitability and growth2 Return on equity (%)3 12.3 13.3 5.3 10.9 12.8 9.4 Return on tangible equity (%)3 13.4 14.4 5.8 11.8 13.9 10.2 Underlying return on tangible equity (%)3,4 14.3 14.6 10.5 13.4 14.4 11.7 Return on common equity tier 1 capital (%)3 15.4 16.8 6.6 13.5 16.1 11.6 Underlying return on common equity tier 1 capital (%)3,4 16.4 17.0 11.9 15.3 16.7 13.3 Cost / income ratio (%)3 72.9 72.5 84.7 80.5 72.7 81.4 Underlying cost / income ratio (%)3,4 70.0 70.2 75.2 75.4 70.1 76.4 Effective tax rate (%) 21.8 20.5 29.1 (9.5) 21.1 5.1 Net profit growth (%)3 16.9 79.7 55.6 110.9 42.9 41.4 Resources2 Total assets 1,707,284 1,686,521 1,617,427 1,669,991 1,707,284 1,669,991 Equity attributable to shareholders 89,165 92,247 90,213 89,277 89,165 89,277 Common equity tier 1 capital5 72,464 73,313 71,262 72,709 72,464 72,709 Risk-weighted assets5 503,923 500,355 493,397 504,500 503,923 504,500 Common equity tier 1 capital ratio (%)5 14.4 14.7 14.4 14.4 14.4 14.4 Going concern capital ratio (%)5 19.0 19.4 18.5 18.2 19.0 18.2 Total loss-absorbing capacity ratio (%)5 38.4 39.5 38.0 37.9 38.4 37.9 Leverage ratio denominator5 1,649,751 1,653,460 1,622,438 1,658,089 1,649,751 1,658,089 Common equity tier 1 leverage ratio (%)5 4.4 4.4 4.4 4.4 4.4 4.4 Liquidity coverage ratio (%)6 177.3 177.8 182.6 182.3 177.3 182.3 Net stable funding ratio (%) 115.1 116.9 116.1 122.4 115.1 122.4 Other Invested assets (USD bn)3,7 7,326 6,881 7,005 6,618 7,326 6,618 Internal and external personnel8 112,388 116,814 119,589 123,526 112,388 123,526 Internal personnel (full-time equivalents) 99,085 101,594 103,177 105,132 99,085 105,132 Market capitalization9 162,373 128,345 155,760 113,036 162,373 113,036 Total book value per share (USD)1 29.12 29.72 29.18 28.17 29.12 28.17 Tangible book value per share (USD)1 26.89 27.50 26.93 25.95 26.89 25.95 Credit-impaired lending assets as a percentage of total lending assets, gross (%)3 1.0 0.9 0.9 0.9 1.0 0.9 Cost of credit risk (bps)3 7 4 9 10 6 8 1 Refer to the “Share information and earnings per share” section of the UBS Group 30 June 2026 Interim Report, available under “Quarterly reporting” at ubs.com/investors, for more information. 2 Refer to the “Targets, capital guidance and ambitions” section of the UBS Group Annual Report 2025, available under “Annual reporting” at ubs.com/investors, for more information about our performance targets. 3 Refer to “Alternative performance measures” in the appendix to the UBS Group 30 June 2026 Interim Report, available under “Quarterly reporting” at ubs.com/investors, for the relevant definition and calculation method. Each alternative performance measure (APM) that qualifies as a non-GAAP measure as defined by US Securities and Exchange Commission (SEC) regulations is designated as such in the table of APMs in the appendix to the UBS Group 30 June 2026 Interim Report, available under “Quarterly reporting” at ubs.com/investors. 4 Refer to the “Group performance” section of the UBS Group 30 June 2026 Interim Report, available under “Quarterly reporting” at ubs.com/investors, for more information about underlying results. 5 Based on the Swiss systemically relevant bank framework. Refer to the “Capital management” section of the UBS Group 30 June 2026 Interim Report, available under “Quarterly reporting” at ubs.com/investors, for more information. 6 The disclosed ratios represent quarterly averages for each of the quarters presented and have been calculated based on an average of 60 data points in the second quarter of 2026, 62 data points in the first quarter of 2026, 64 data points in the fourth quarter of 2025 and 61 data points in the second quarter of 2025. Refer to the “Liquidity and funding management” section of the UBS Group 30 June 2026 Interim Report, available under “Quarterly reporting” at ubs.com/investors, for more information. 7 Consists of invested assets for Global Wealth Management, Asset Management (including invested assets from associates) and Personal & Corporate Banking. Refer to “Note 30 Invested assets and net new money” in the “Consolidated financial statements” section of the UBS Group Annual Report 2025, available under “Annual reporting” at ubs.com/ investors, for more information. 8 Represents full-time equivalents for internal personnel and workforce count for external personnel. 9 The calculation of market capitalization reflects total shares issued multiplied by the share price at the end of the period.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 12 of 15 Income statement For the quarter ended % change from Year-to-date USD m 30.6.26 31.3.26 30.6.25 1Q26 2Q25 30.6.26 30.6.25 Net interest income 2,398 2,320 1,965 3 22 4,718 3,595 Other net income from financial instruments measured at fair value through profit or loss 3,696 3,949 3,408 (6) 8 7,645 7,346 Net fee and commission income 7,582 7,728 6,708 (2) 13 15,310 13,485 Other income 24 247 30 (90) (20) 271 243 Total revenues 13,700 14,243 12,112 (4) 13 27,943 24,668 Credit loss expense / (release) 121 70 163 72 (26) 191 263 Personnel expenses 7,380 7,584 6,976 (3) 6 14,963 14,008 General and administrative expenses 1,804 2,011 1,881 (10) (4) 3,815 4,312 Depreciation, amortization and impairment of non-financial assets 802 738 898 9 (11) 1,540 1,759 Operating expenses 9,986 10,333 9,756 (3) 2 20,319 20,080 Operating profit / (loss) before tax 3,594 3,841 2,193 (6) 64 7,434 4,325 Tax expense / (benefit) 782 786 (209) (1) 1,568 221 Net profit / (loss) 2,811 3,054 2,402 (8) 17 5,866 4,105 Net profit / (loss) attributable to non-controlling interests 11 14 7 (22) 53 26 18 Net profit / (loss) attributable to shareholders 2,800 3,040 2,395 (8) 17 5,840 4,087 Comprehensive income Total comprehensive income 1,697 3,177 5,357 (47) (68) 4,874 8,703 Total comprehensive income attributable to non-controlling interests 10 26 22 (63) (57) 35 48 Total comprehensive income attributable to shareholders 1,687 3,152 5,335 (46) (68) 4,839 8,655
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 13 of 15 Information about results materials and the earnings call UBS’s second quarter 2026 report, news release and slide presentation are available from 06:45 CEST on Wednesday, 29 July 2026, at ubs.com/quarterlyreporting. UBS will hold a presentation of its second quarter 2026 results on Wednesday, 29 July 2026. The results will be presented by Sergio P. Ermotti (Group Chief Executive Officer), Todd Tuckner (Group Chief Financial Officer) and Sarah Mackey (Head of Investor Relations). UBS Group AG and UBS AG Investor contact Switzerland: +41-44-234 41 00 Americas: +1-212-882 57 34 Media contact Switzerland: +41-44-234 85 00 UK: +44-207-567 47 14 Americas: +1-212-882 58 58 APAC: +852-297-1 82 00 ubs.com Time 09:00 CEST 08:00 BST 03:00 US EDT Audio webcast The presentation for analysts can be followed live on ubs.com/quarterlyreporting with a simultaneous slide show. Webcast playback An audio playback of the results presentation will be made available at ubs.com/investors later in the day.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 14 of 15 Cautionary statement regarding forward-looking statements This news release contains statements that constitute “forward-looking statements”, including but not limited to management’s outlook for UBS’s financial performance, statements relating to the anticipated effect of transactions and strategic initiatives on UBS’s business and future development and goals. 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 could cause actual developments and results to differ materially from UBS’s expectations. In particular, the global economy may suffer significant adverse effects from increasing political tensions between world powers, changes to international trade policies, including those related to tariffs and trade barriers, and evolving armed conflicts. UBS’s acquisition of the Credit Suisse Group materially changed its outlook and strategic direction and introduced new operational challenges. The integration of the Credit Suisse entities into the UBS structure is expected to continue through 2026 and presents significant operational and execution risk, including the risks that UBS may be unable to achieve the cost reductions and business benefits contemplated by the transaction, that it may incur higher costs to execute the integration of Credit Suisse and that the acquired business may have greater risks or liabilities, including those related to litigation, than expected. In response to the failure of Credit Suisse, Switzerland has amended its Capital Adequacy Ordinance and is considering changes to its Banking Act, which, if enacted as proposed, would substantially increase capital requirements for UBS in relation to its foreign subsidiaries. These factors create greater uncertainty about forward-looking statements. Other factors that may affect UBS’s performance and ability to achieve its plans, outlook and other objectives also include, but are not limited to: (i) the degree to which UBS is successful in the execution of its strategic plans, including its cost reduction and efficiency initiatives and its ability to manage its levels of risk-weighted assets (RWA) and leverage ratio denominator (LRD), liquidity coverage ratio and other financial resources, including changes in RWA assets and liabilities arising from higher market volatility and the size of the combined Group; (ii) the degree to which UBS is successful in implementing changes to its businesses to meet changing market, regulatory and other conditions, including any potential changes to banking examination and oversight practices and standards as a result of executive branch orders or staff interpretations of law in the US; (iii) inflation and interest rate volatility in major markets; (iv) developments in the macroeconomic climate and in the markets in which UBS operates or to which it is exposed, including movements in securities prices or liquidity, credit spreads, currency exchange rates, residential and commercial real estate markets, general economic conditions, and changes to national trade policies on the financial position or creditworthiness of UBS’s clients and counterparties, as well as on client sentiment and levels of activity; (v) changes in the availability of capital and funding, including any adverse changes in UBS’s credit spreads and credit ratings of UBS, as well as availability and cost of funding, including as affected by the marketability of additional tier one debt instruments, to meet requirements for debt eligible for total loss-absorbing capacity (TLAC); (vi) changes in and potential divergence between central bank policies or the implementation of financial legislation and regulation in Switzerland, the US, the UK, the EU and other financial centers that have imposed, or resulted in, or may do so in the future, more stringent or entity-specific capital, TLAC, leverage ratio, net stable funding ratio, liquidity and funding requirements, heightened operational resilience requirements, incremental tax requirements, additional levies, limitations on permitted activities, constraints on remuneration, constraints on transfers of capital and liquidity and sharing of operational costs across the Group or other measures, and the effect these will or would have on UBS’s business activities; (vii) UBS’s ability to successfully implement resolvability and related regulatory requirements and the potential need to make further changes to the legal structure or booking model of UBS in response to legal and regulatory requirements including heightened requirements and expectations due to its acquisition of the Credit Suisse Group; (viii) UBS’s ability to maintain and improve its systems and controls for complying with sanctions in a timely manner and for the detection and prevention of money laundering to meet evolving regulatory requirements and expectations, in particular in the current geopolitical turmoil; (ix) the uncertainty arising from domestic stresses in certain major economies; (x) changes in UBS’s competitive position, including whether differences in regulatory capital and other requirements among the major financial centers adversely affect UBS’s ability to compete in certain lines of business; (xi) changes in the standards of conduct applicable to its businesses that may result from new regulations or new enforcement of existing standards, including measures to impose new and enhanced duties when interacting with customers and in the execution and handling of customer transactions; (xii) the liability to which UBS may be exposed, or possible constraints or sanctions that regulatory authorities might impose on UBS, due to litigation, including litigation it has inherited by virtue of the acquisition of Credit Suisse, contractual claims and regulatory investigations, including the potential for disqualification from certain businesses, potentially large fines or monetary penalties, or the loss of licenses or privileges as a result of regulatory or other governmental sanctions, as well as the effect that litigation, regulatory and similar matters have on the operational risk component of its RWA; (xiii) UBS’s ability to retain and attract the employees necessary to generate revenues and to manage, support and control its businesses, which may be affected by competitive factors; (xiv) changes in accounting or tax standards or policies, and determinations or interpretations affecting the recognition of gain or loss, the valuation of goodwill, the recognition of deferred tax assets and other matters; (xv) UBS’s ability to implement new technologies and business methods, including digital services, artificial intelligence and other technologies, and ability to successfully compete with both existing and new financial service providers, some of which may not be regulated to the same extent; (xvi) limitations on the effectiveness of UBS’s internal processes for risk management, risk control, measurement and modeling, and of financial models generally; (xvii) the occurrence of operational failures, such as fraud, misconduct, unauthorized trading, financial crime, cyberattacks, data leakage and systems failures, the risk of which is increased with persistently high levels of cyberattack threats; (xviii) restrictions on the ability of UBS Group AG, UBS AG and regulated subsidiaries of UBS AG to make payments or distributions, including due to restrictions on the ability of its subsidiaries to make loans or distributions, directly or indirectly, or, in the case of financial difficulties, due to the exercise by FINMA or the regulators of UBS’s operations in other countries of their broad statutory powers in relation to protective measures, restructuring and liquidation proceedings; (xix) the degree to which changes in regulation, capital or legal structure, financial results or other factors may affect UBS’s ability to maintain its stated capital return objective; (xx) uncertainty over the scope of actions that may be required by UBS, governments and others for UBS to achieve goals relating to climate, environmental and social matters, as well as the evolving nature of underlying science and industry and the increasing divergence among regulatory regimes; (xxi) the ability of UBS to access capital markets; (xxii) the ability of UBS to successfully recover from a disaster or other business continuity problem due to a hurricane, fl ood, earthquake, terrorist attack, war, conflict, pandemic, security breach, cyberattack, power loss, telecommunications failure or other natural or man-made event; and (xxiii) the effect that these or other factors or unanticipated events, including media reports and speculations, may have on its reputation and the additional consequences that this may have on its business and performance. The sequence in which the factors above are presented is not indicative of their likelihood of occurrence or the potential magnitude of their consequences. UBS’s business and financial performance could be affected by other factors identified in its past and future filings and reports, including those filed with the US Securities and Exchange Commission (the SEC). More detailed information about those factors is set forth in documents furnished by UBS and filings made by UBS with the SEC, including the UBS Group AG and UBS AG Annual Reports on Form 20-F for the year ended 31 December 2025. 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. Rounding Numbers presented throughout this new release may not add up precisely to the totals provided in the tables, infographics and text. Percentages and percent changes disclosed in text and tables are calculated on the basis of unrounded figures. Absolute changes between reporting periods disclosed in the text, which can be derived from numbers presented in related tables, are calculated on a rounded basis.
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Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG and UBS AG, Media Release, 29 July 2026 Page 15 of 15 Tables Within tables, blank fields generally indicate non-applicability or that presentation of any content would not be meaningful, or that information is not available as of the relevant date or for the relevant period. Zero values generally indicate that the respective figure is zero on an actual or rounded basis. Values that are zero on a rounded basis can be either negative or positive on an actual basis. Websites In this news release, any website addresses are provided solely for information and are not intended to be active links. UBS is not incorporating the contents of any such websites into this news release.