Slides
Page 1
28 October 2026 Third quarter 2026 Financial results
Page 2
1 Important information Forward-looking statements: This presentation 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. UBS’s business and financial performance could be affected by other factors identified in our past and future filings and reports, including those filed with the US Securities and Exchange Commission (SEC). More detailed information about those factors is set forth in documents furnished by UBS and filings made by UBS with the SEC, including UBS’s Annual Report 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. Alternative Performance Measures: In addition to reporting results in accordance with International Financial Reporting Standards (IFRS), UBS reports certain measures that may qualify as Alternative Performance Measures as defined in the SIX Exchange Directive on Alternative Performance Measures, under the guidelines published by the European Securities and Markets Authority (ESMA), or defined as Non-GAAP financial measures in regulations promulgated by the SEC. Please refer to “Alternative Performance Measures” in the appendix of the UBS Group 3Q26 Report for a list of all measures UBS uses that qualify as APMs or non-GAAP measures. Disclaimer: This presentation and the information contained herein are provided solely for information purposes and are not to be construed as a solicitation of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating to securities of or relating to UBS Group AG, UBS AG, or their affiliates should be made on the basis of this document. No representation or warranty is made or implied concerning, and UBS assumes no responsibility for, the accuracy, completeness, reliability or comparability of the information contained herein relating to third parties, which is based solely on publicly available information. UBS undertakes no obligation to update the information contained herein. Available Information: UBS’s Annual Report, Interim Report, Quarterly Reports, SEC filings on Form 20-F and Form 6-K, as well as investor presentations and other financial information are available at ubs.com/investors. UBS’s Annual Report on Form 20-F, Interim Report, Quarterly Reports and other information furnished to or filed with the SEC on Form 6-K are also available at the SEC’s website: www.sec.gov. Basel III RWA, LRD and capital: Basel III RWA, LRD and capital information is based on the Swiss systemically relevant bank framework, unless otherwise stated. Refer to the “Capital management” section in the UBS Group 3Q26 Report for more information. Definitions: “Earnings per share” refers to diluted earnings per share. “Litigation” refers to net additions/releases to provisions and releases of acquisition-related contingent liabilities for litigation, regulatory and similar matters reflected in the income statement for the relevant period. “Net profit” refers to net profit attributable to shareholders. “Tangible equity” refers to tangible equity attributable to shareholders. “PPA” refers to purchase price allocation adjustments made in accordance with IFRS 3, Business Combinations, to bring the assets acquired and liabilities assumed to fair value, from the acquisition of the Credit Suisse Group. Rounding: Numbers presented throughout this presentation may not add up precisely to the totals provided in the tables 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. 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. Numbers presented in US dollars unless otherwise indicated. Currency translation of monthly income statement items of operations with a functional currency other than the US dollar are translated with month-end rates into US dollar. © UBS 2026. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.
Page 3
2 Agenda Key messages Q&AFinancial performance Sergio P . Ermotti, Group CEO Todd Tuckner, Group CFO
Page 4
3 Key messages Strong 3Q26 financial performance in a complex market environment; 3Q26 net profit 2.7bn, underlying RoCET1 16.7%; underlying cost / income ratio 68.7% Robust client momentum across our businesses; 7.3trn invested assets; GWM NNA 55bn, record client commitments in UGA 12.5bn, P&C net new loans CHF 3.3bn, Global Markets underlying revenues +17% YoY Strong capital position and balance sheet for all seasons; CET1 capital ratio 14.7%, leverage ratio 4.6%; expect to complete current 3bn share buyback program by 4Q26 results Strategically committed to our diversified, global franchise and footprint; protecting the long-term interests of our shareholders, clients and employees Integration nearing completion; ~90% of legacy applications fully decommissioned, 13.2bn gross cost saves achieved
Page 5
4 Financial performance Todd Tuckner, Group CFO
Page 6
5 3.5 3Q25 3.7 3Q26 3.6 4.1 Core: +7% +14% PBT +14% on revenue growth and positive operating leverage Refer to slide 20 for details on underlying results and reconciliation to reported results Revenues Underlying, bn Operating expenses Profit before tax 12.2 3Q25 12.6 3Q26 12.2 13.4 Core: +3% +10% 8.7 3Q25 8.8 3Q26 8.5 9.2 Core: +2% +8% Core NCL 3Q26 4.1bn 16.7% 68.7% 2.7bn 0.85 (7%) excl. litigation, variable and FA compensation, and FX PBT RoCET1 Cost / income Net profit EPS Underlying Reported (1%) excl. litigation +16% excl. litigation
Page 7
6 199 161 17 67 259 GWM P&C AM IB NCL Group Items Non- underlying expenses2 Non- underlying revenues2,3 3,590 (215) 4,077 (38) (452) 3,587 (897) 2,690 3Q26 PBT 3Q26 net profit Tax and NCI 3Q26 reported PBT 3Q25 PBT Net profit 2.7bn driven by PBT growth across our businesses Profits m o/w tax: (887m) Underlying o/w (346m) from repurchase of legacy CS debt1 ~0.5bn expected in 4Q26 1 Impact includes a loss of 587m before PPA adjustments, partly offset by a 241m gain from the release of PPA adjustments; 2 Refer to slide 20 for details on underlying results and reconciliation to reported results; 3 ~0.2bn of non-underlying revenues expected in 4Q26
Page 8
7 13.0 14.6 YE25 3Q26 ~15.1 YE26e 13.4 15.2 ~15.7 Additional efficiencies identified, ~13.7bn cumulative gross cost saves expected 1 Based on constant FX rates as of September 2023; 2 Refer to slide 25 for reconciliation of the FY22 combined baseline; 3 Does not include integration-related expenses booked in revenues Cumulative integration- related expenses3 FX impact At constant FX1 USD bn Underlying operating expenses 10.7 13.2 YE25 3Q26 YE26e ~13.7 Cumulative annualized exit rate gross cost reductions USD bn USD bn At constant FX1 ~1.1x gross cost saves FY22 combined cost baseline2 25.5 24.6 ~32.2 FY25 3Q26 LTM ~40.6 35.6 37.3 Excl. litigation, variable- and FA-compensation (~29%) / (~9.4bn) at constant FX (~1.3bn) vs. FY25 at constant FX +0.6bn in 3Q26 Increased from ~13.5bn
Page 9
8 Our balance sheet for all seasons is a key pillar of our strategy 1 Consists of Loans and advances to customers and Amounts due from banks; 2 Level 3 assets account for ~1% of total assets; 3 Consists of short-term debt issued measured at amortized cost and Amounts due to banks, which includes amounts due to central banks; 4 11.1bn of total issuances of TLAC-eligible senior unsecured debt instruments; 5 Notional amount TLAC RWA AT1 capital CET1 capital CET1 capital ratio (%) LRD CET1 leverage ratio (%) Liquidity coverage ratio (%, average) Liquidity and funding Regulatory capital Net stable funding ratio (%) 73.1 22.8 186.7 496.1 72.5 23.5 193.6 503.9 +1% (4%) 74.7 20.3 199.3 504.9 (2%) (6%) 1,591 1,650 1,640 (2%) (2%) (4%) (3%) (3%) +12% 4.6% 4.4% 4.6% +20bps +4bps 179% 177% 182% +1pp (3pp) 115% 115% 120% (0pp) (5pp) 14.7% 14.4% 14.8% +36bps (5bps) USD bn, except where indicated 3Q26 3Q25 QoQ2Q26 YoYUSD bn, except where indicated 3Q26 3Q25 QoQ2Q26 YoY Cost of credit risk Total liabilities o/w: Lending1 o/w: Short-term borrowings3 o/w: Fair value and long-term debt o/w: Customer deposits Total assets Total equity Tangible book value per share (USD) Tangible equity 679 1,566 684 1,618 (1%)666 1,542 +2% 286 300 304 (3%) +2% (4%) (6%) 63 71 57 (12%) +11% 778 785 783 (1%) (1%) 1,655 1,707 (3%)1,632 +1% 89 89 90 82 82 83 (1%) (1%) (1%) (1%) 27.00 26.89 26.54 0% +2% o/w: Cash and balances at central banks 196 216 (9%)219 (10%) o/w: Fair value assets2 548 558 490 (2%) +12% Credit risk Credit-impaired lending assets as a % of total lending assets, gross 7bps 7bps 6bps (0bps) +1bps 1.0% 1.0% 0.9% 0.0pp 0.0pp 3Q26 − Lending assets 679bn, (4bn) QoQ with +10bn net new loans across GWM and P&C more than offset by currency effects − Deposits 778bn, (6bn) QoQ with +4bn net new deposit inflows across GWM and P&C more than offset by currency effects 3Q26 − Strong liquidity position with average LCR of 179%, 324bn of high- quality liquid assets − Issued 11.0bn4 of syndicated TLAC-eligible Holdco bonds, primarily to refinance USD 9.8bn5 debt repurchased
Page 10
9 0.6% 0.0% 0.1% 2Q26 Net profit1 Dividend accrual Currency effects2 RWA excl. currency effects Other3 3Q26 14.4% (0.2%) (0.1%) 14.7% Strong capital generation and discipline while funding capital return ambitions 1 Profit before tax less current tax expense; 2 0.7bn reduction in CET1 capital, offset by the effects of 4.7bn reduction in RWA; 3 Includes (0.7bn) from compensation and own-share-related capital components and movements related to other items CET1 capital ratio CET1 capital, bn 72.5 (0.9) (0.7) n/a 73.1(0.7)2.9 − RWA 496bn, (8bn) QoQ − CET1 leverage ratio 4.6%, +20bps QoQ, with LRD 1,591bn, (59bn) QoQ − Refer to slide 23 for full QoQ RWA and LRD walk − 14.5% UBS AG standalone CET1 capital ratio, fully applied as of 3Q26
Page 11
10 Global Wealth Management PBT 1,972m, +11% YoY, +25% YoY excluding litigation Credit loss expense 10m Operating expenses 4,915m, +6% YoY, (4%) excluding variable compensation, litigation and FX effects Net new assets 55bn; net new fee-generating assets 13bn Invested assets 4,977bn, +1% QoQ driven by NNA, partly offset by negative currency effects and market performance Net new deposits +1.8bn driven by inflows in fixed-term deposits, partly offset by outflows in current accounts Net new loans +5.8bn driven by securities-based lending Cost / income ratio Invested assets, bn Deposits, bn Loans, bn Other revenues Net interest income Recurring net fee income Transaction-based income Operating expenses Profit before tax Credit loss expense / (release) Total revenues USD m, except where indicated 3Q26 6,898 71% 4,915 10 4,977 476 336 1,755 3,801 1,323 18 6,410 72% 4,714 478 322 37 1,631 3,475 1,267 4,629 1,774 7 3Q25 (1%) (0pp) +1% (0%) 0% 0% +2% (12%) (2%) (1%) QoQ Underlying RWA, bn 163 170 (2%) 6,997 71% 4,942 477 335 25 1,750 3,711 1,511 5,002 1,997 (2) 2Q26 167 +8% (1pp) +6% (0%) +4% +8% +9% +4% +6% +11% YoY (4%) Profit before tax (reported) 1,919 1,354 +2%1,883 +42% Underlying 3Q26 Total revenues 6,898m, +8% YoY − NII +8%, flat QoQ reflecting increased deposit margins and loan volumes, offset by mix shift − Recurring net fee income +9% on higher fee-generating assets − Transaction-based income +4% on higher client activity, particularly in the Americas 1,972
Page 12
11 Personal & Corporate Banking (CHF) Underlying 3Q26 PBT 813m, +22% YoY Credit loss expense 27m, with net expenses of 55m on stage 3 positions, partly offset by a model overlay release Operating expenses 947m, (5%) YoY driven by integration synergies Total revenues 1,787m, +4% YoY − NII +2%, +3% QoQ driven by lending momentum − Non-interest revenue +5% on higher asset-based and credit card fees in Personal Banking Cost / income ratio Deposits, bn Loans, bn Other revenues Net interest income Recurring net fee income Transaction-based income Operating expenses Profit before tax Credit loss expense / (release) Total revenues CHF m, except where indicated Underlying RWA, bn Profit before tax (reported) 53% 813 27 1,787 947 255 256 942 381 427 38 123 915 1,741 58% 253 251 29 918 358 436 1,004 676 61 122 1,724 58% 247 247 11 919 351 443 998 668 58 120 676 507 +3% (5pp) +1% +2% +3% +6% (2%) (6%) +20% +1% +35% +4% (5pp) +4% +4% +2% +8% (4%) (5%) +22% +2% +80% 3Q26 3Q25 QoQ2Q26 YoY Net new loans +3.3bn driven by mortgages and commodity trade finance Net new deposits +1.8bn driven by inflows across Personal Banking and Corporate & Institutional Clients (56%) (53%)
Page 13
12 3Q25 QoQ2Q26 YoY Asset Management Total revenues 780m, (7%) YoY on lower performance fees mainly reflecting a business exit, partly offset by higher net management fees Operating expenses 480m, (14%) YoY mainly due to lower personnel and non-personnel expenses, and including the effects from a business exit Invested assets 2,201bn, (1%) QoQ reflecting negative currency effects and net new money outflows, partly offset by positive market performance Net new money (5.1bn), driven by outflows in institutional mandates and money market, partly offset by inflows to ETFs, SMAs and UGA PBT 300m, +6% YoY Cost / income ratio Invested assets, bn Net new money, bn Net management fees Performance fees Net gain / (loss) from disposal Operating expenses Profit before tax Credit loss expense / (release) Total revenues USD m, except where indicated Underlying Profit before tax (reported) Underlying 3Q26 62% 480 300 780 0 (5) 2,201 767 16 69% 519 237 756 6 2,228 731 25 0 66% 560 282 843 18 2,043 755 87 0 (7pp) (7%) +27% +3% (1%) +5% (37%) (5pp) (14%) +6% (7%) +8% +2% (82%) 271 214 218 +27% +24% 3Q26 (3) 1
Page 14
13 3Q26 3Q25 QoQ2Q26 YoY Global Markets revenues +17% YoY − Execution Services +18% with increases in all regions − Derivatives & Solutions +5% driven by Equity Derivatives and FX − Financing +32% on higher Prime Brokerage revenues Of which: − Equities 2,007m, +22% − FRC 541m, +1% Global Banking revenues (21%) YoY − Advisory (44%) compared with a record 3Q25, affected by deal timing − Capital Markets (6%) on lower LCM revenues, partly offset by higher ECM and DCM revenues Underlying 3Q26 Operating expenses +5% YoY reflecting higher non- personnel costs PBT 854m; revenues +6% YoY; RoAE 17.7% with RWA +3% YoY and LRD flat YoY USD m, except where indicated Underlying Investment Bank Cost / income ratio Operating expenses Profit before tax Credit loss expense / (release) Global Markets Execution Services Global Banking Advisory Capital Markets Derivatives & Solutions Financing Total revenues 3,218 30 2,334 854 73% 670 181 488 2,548 664 997 887 3,025 2,221 671 17 950 844 324 520 2,181 787 73% 560 (1pp) RWA, bn 116 112 LRD, bn 468 470 (0%) 3,701 2,494 937 45 1,329 693 184 509 3,008 1,162 67% 742 115 496 (13%) (6%) (5%) (25%) (3%) (1%) (4%) (15%) +5pp (11%) +1% (6%) (27%) Profit before tax (reported) 838 900 +6% +5% +32% +5% (21%) (44%) (6%) +17% +18% +3% +9% (7%)1,150 (27%) (33%) +80% Return on attributed equity 17.7% 17.0% +0.8pp23.5% (5.7pp)
Page 15
14 NCL wind-down almost complete 3Q26 3Q25 QoQ2Q26 YoY RWA, bn LRD, bn Operating expenses Profit before tax Credit loss expense / (release) Total revenues1 764 38 366 360 13 27 44 0 96 (52) 14 28 (3%) (1%) USD m, except where indicated Underlying (42) 6 (149) 102 26 31 (47%) (11%) Profit before tax (reported) 183 (203) (102) Underlying operating expenses excl. litigation bn +281% Operating expenses excl. litigation 91 100 291 (69%)(9%) Risk-weighted assets bn Forward-looking figures based on constant FX rates; 1 3Q26 includes 697m net gain related to settlements of certain legacy legal matters; 2 Refer to slide 25 for reconciliation of FY22 baseline; 3 Last twelve months; 4 Also including non-counterparty-related risk RWA; 5 ~10% of Operational risk RWA to roll off through 2030, with remainder to substantially roll off in 2031-2035 FY22 combined baseline2 3Q26 LTM3 2026 exit- rate ambition FY28 ambition ~6.1 0.5 ~0.5 ~0.2 (91%) 56 30 24 2Q23 3 3Q26 ~245 ~4 YE26 ambition 86 27 ~28 (68%) (94%) ex. op. risk Operational risk Credit and market risk4 Expecting ~0.3bn +255% +554%
Page 16
15 Group Items − Reported PBT (740m) driven by liability management exercise (LME) and losses related to group hedging and own debt − 9.8bn of legacy Credit Suisse debt repurchased resulting in a net reported loss of 346m1 − 265m net loss related to hedging and own credit, driven by the sharp rise in US dollar interest rates 1 9.8bn notional amount; 3Q26 impact includes a loss of 587m before PPA adjustments, partly offset by a 241m gain from the release of PPA adjustments 3Q26 (740) (403) (138) Reported PBT LME, PPA effects and other integration items Underlying PBT Group hedging and own debt Underlying PBT excluding group hedging and own debt (346m) from LME1 (265) (337)
Page 17
16 17% 3% 9% 17% FY22, reported 2H23 FY24 FY25 9M26 14%2 Well-positioned to outperform our 2026 exit rate underlying RoCET1 target of ~15% and achieve <70% underlying cost / income ratio Group underlying return on CET1 capital 1 Reported basis; 2 11.5% excluding net litigation release and applying a normalized tax rate of 23%; 3 76% excluding net litigation release Underlying cost / income ratio 80%72%1 91% 74%3 70%
Page 18
17 Appendix
Page 19
18 Our Group financial targets and ambitions ~15% Underlying RoCET1 2026 exit rate Financial targets <70% Underlying cost / income ratio 2026 exit rate Capital guidance ~14% CET1 capital ratio >4.0% CET1 leverage ratio Ambitions 2028 ~18% Reported RoCET11 ~67% Reported cost / income ratio 1 Based on 2026 capital framework and ~14% CET1 capital ratio
Page 20
19 UBS Group results Credit loss expense / (release) Operating expenses of which: current tax expense Tax expense / (benefit) Total revenues Operating profit / (loss) before tax Net profit / (loss) attributable to shareholders Diluted EPS (USD) Return on CET1 capital Tangible book value per share (USD) Total book value per share (USD) Cost / income ratio Return on tangible equity Reported, USD m, except where indicated 3Q25 102 9,831 335 341 12,760 2,828 2,481 0.76 13.5% 28.78 77.0% 26.54 12.0% 3Q26 114 9,648 648 887 13,350 3,587 2,690 14.8% 29.24 72.3% 27.00 13.1% 2Q26 121 9,986 545 782 13,700 3,594 2,800 0.87 15.4% 29.12 72.9% 26.89 13.4% 4Q25 159 10,286 276 495 12,145 1,700 1,199 0.37 6.6% 29.18 84.7% 26.93 5.8% 1Q26 72.5% 70 10,333 473 786 14,243 3,841 3,040 0.94 16.8% 27.50 14.4% 29.72 Effective tax rate 12.0%21.8% 29.1%20.5%24.7% Tangible book value per share (CHF) 21.1422.58 21.74 21.3522.00 0.85 Total book value per share (CHF) 22.9224.46 23.55 23.1423.78
Page 21
20 3Q26 overview of financial performance by business division 1 Includes accretion of PPA adjustments on financial instruments and other PPA effects, as well as temporary and incremental it ems directly related to the integration; 2 Includes a USD 346m net loss from the repurchase of legacy Credit Suisse debt instruments, as the repurchase price exceeded the amortized-cost carrying value (the net loss reflects a loss of USD 587m before PPA adjustments, partly offset by a USD 241m gain from the release of PPA adjustments); 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 Total revenues as reported of which: PPA effects and other integration items1 Total revenues (underlying) Credit loss expense / (release) Operating expenses as reported of which: integration-related expenses and PPA effects3 Operating expenses (underlying) Operating profit / (loss) before tax as reported Operating profit / (loss) before tax (underlying) Underlying return on CET1 capital Underlying return on tangible equity Underlying cost / income ratio GWM P&C AM IB NCL Group Items 7,002 2,360 780 3,239 764 (795) 104 174 21 (337)2 6,898 2,186 780 3,218 764 (459) 10 33 0 30 38 2 5,072 1,210 508 2,371 544 (58) 157 51 28 37 177 0 4,915 1,159 480 2,334 366 (58) 1,919 1,117 271 838 183 (740) 1,972 994 300 854 360 (403) 71.3% 53.0% 61.6% 72.5% n.m. n.m. 13,350 (38) 13,387 114 9,648 452 9,197 3,587 4,077 16.7% 14.9% 68.7% UBS GroupUSD m, except where indicated Operating profit / (loss) before tax (underlying excl. litigation) 1,974 994 300 908 635 (398)4,413 0
Page 22
21 Overview of capital requirements and ratios Refer to the “Capital Management” section of the UBS Group 3Q26 Report for more information 3Q26 186.7bn Gone concern: 90.8bn Going concern: 95.9bn o/w CET1 73.1bn 3Q26 37.6% Gone concern: 18.3% Going concern: 19.3% o/w CET1 14.7% vs. guidance: ~14% 3Q26 11.7% Gone concern: 5.7% Going concern: 6.0% o/w CET1 4.6% vs. guidance: >4% CET1: 10.8% Going concern: 15.2% Requirements Total loss-absorbing capacity: 26.1% Requirements CET1: 3.58% Going concern: 5.08% Total loss-absorbing capacity: 8.88% RWA 496.1bn LRD 1,591.2bn
Page 23
22 3Q26 Global Wealth Management results by region Table excludes divisional items. Refer to the “Global Wealth Management” section of the UBS Group 3Q26 Report for more information; 1 Excluding litigation, underlying PBT was +21% YoY in Americas, +19% YoY in APAC, +39% YoY in EMEA and +34% YoY in Switzerland; 2 The YoY decrease in advisor headcount included the impact from the reclassification of certain roles in 2Q26 to align role classifications globally; the reclassification impact primarily affected the Switzerland and EMEA regions; comparative figure s have not been restated Invested assets, bn Net new assets, bn Underlying cost / income ratio Transaction-based income, m Underlying operating expenses, m Recurring net fee income, m Net interest income, m Other revenues, m Underlying revenues, m Loans, bn Net new deposits, bn Net new loans, bn Credit loss expense / (release), m Deposits, bn Underlying PBT, m Fee-generating assets, bn Net new fee-generating assets, bn Advisors (full-time equivalents)2 16.7 2,424 2,849 2,321 3,380 1.0 125 530 7.5 1,248 5,601 Americas EMEAAPAC Switzerland (8.6) 2,284 86% 2,669 416 2,147 527 7 3,097 1.8 101 0.8 13 116 416 3Q25 84% 460 575 23 113 4.2 1 3Q26 YoY (2pp) 7% 11% 8% 9% 9% 28%1 12% 6% 8% 37.9 816 59% 614 411 280 349 (6) 1,035 (2.1) 45 0.2 (2) 120 422 3Q25 17.9 820 54% 602 421 335 359 (8) 1,107 3.5 50 0.0 3 118 503 3Q26 YoY (5pp) (2%) 2% 20% 3% 7% 19%1 10% 1% (2%) 5.6 752 58% 700 255 572 378 (2) 1,203 (4.7) 64 0.8 8 112 496 9 3Q25 8.7 807 63% 812 250 623 425 (2) 1,295 (0.7) 63 0.9 108 474 3Q26 YoY 5pp 16% (2%) 9% 13% 8% (4%)1 (1%) 7% (4%) 3.2 859 61% 634 206 465 371 2 1,045 (4.7) 110 1.8 (13) 125 423 3Q25 12.1 922 58% 648 210 509 409 (2) 1,126 (1.9) 108 0.7 (2) 121 480 3Q26 YoY (3pp) 2% 1% 9% 10% 8% 13%1 (2%) 7% (3%) (1.7) 1,175 6% 3.7 199 4.7 228 15% 5.7 434 (0.9) 491 13% 1.2 257 1.6 285 11% 5,779 (3%) 919959 4% 1,5001,396 (7%) 1,2181,090 (11%)
Page 24
23 318.5 RWA and LRD QoQ walk Risk-weighted assets bn Leverage ratio denominator bn 2Q26 Credit and counterparty credit risk Non-counterparty- related risk Market risk Operational risk Currency effects 3Q26 503.9 (2.3) 0.0 (0.8) 0.0 (4.7) 496.1 (2%) 2Q26 On-balance sheet exposures Derivatives Securities financing transactions Off-balance sheet items Currency effects 3Q26 1,649.8 (15.2) (12.5) (11.1) 0.6 (20.3) 1,591.2 (4%)
Page 25
24 PPA pull to par overview and revenue recognition 1 Excluding Non-core and Legacy, which is not excluded from underlying results as the majority of Non-core and Legacy’s assets are held at fair value; 2 Represented at acquisition date FX rates; 3 Adjusted for the early release of PPA against the derecognition loss within Group Items due to the repurchase of legacy Credit Suisse debt; 4 Represented at current FX rates and treasury allocations; 5 Does not include effects from accelerated accretion from early unwinds Recognized Estimated amortization profile5 USD bn Opening balance as of 12.6.23 (close) 2023-3Q26 Remaining balance to be recognized2,3 Expected future P&L releases at 30.9.26 FX rates4 4Q26 2027 2028 2029+ GWM ~3.0 (2.2) ~0.8 ~0.8 (~0.1) (~0.2) (~0.2) (~0.3) P&C ~4.3 (3.2) ~1.1 ~1.3 (~0.1) (~0.4) (~0.3) (~0.5) IB ~2.3 (2.3) ~0.0 ~0.0 (~0.0) (~0.0) (~0.0) (~0.0) Total1 ~9.6 (7.7) ~1.9 ~2.1 (~0.2) (~0.6) (~0.5) (~0.8) Recognized Estimated amortization profile5 USD bn NII expected to be recognized as of 12.6.23 (close) 2023-3Q26 Remaining NII expected to be recognized Expected future P&L releases at 30.9.26 FX rates4 4Q26 2027 2028 2029+ Elimination of Credit Suisse’s prior cash flow hedge ~1.2 (1.2) ~0.0 ~0.0 (~0.0) (~0.0) (~0.0) (~0.0) Accretion of PPA adjustments on financial instruments Additional PPA related benefits (5.5bn) from standard accretion and (2.2bn) from early unwinds
Page 26
25 FY22 combined cost baseline 1 UBS Group AG and consolidated subsidiaries; 2 Credit Suisse AG and its consolidated subsidiaries, also including Credit Suisse Services AG and other small former Credit Suisse Group entities now directly held by UBS Group AG; 3 CHF translated to USD using FY22 average USD / CHF rates of 0.95; 4 Excludes net expenses for litigation, regulatory and similar matters of USD 348m; 5 Excludes major litigation provisions of CHF 1,299m, restructuring expenses of CHF 533m, goodwill impairment of CHF 23m, expenses related to real estate disposals of CHF 24m, expenses related to Archegos of CHF 40m and expenses related to equity investment in Allfunds Group of CHF 2m; 6 Impact from reclassifying commission expense from operating expenses to negative revenues for the Credit Suisse sub-group based on Credit Suisse Group reported commission expenses of CHF 1,012m in FY22 USD bn Operating expenses UBS sub-group (IFRS)1 24.9 Credit Suisse sub-group (US GAAP)2,3 19.1 UBS sub-group exclusions4 (0.3) Credit Suisse sub-group exclusions3,5 (2.0) Commission expense reclassification3,6 (1.1) FY22 combined cost baseline 40.6 FY22 • of which: ~34.5bn in Core and ~6.1bn in Non-core and Legacy • of which: further excluding litigation, variable and FA compensation ~32.2bn
Page 27
26 Capturing final synergies from the integration 1 Based on constant FX rates as of September 2023 Illustrative key milestone timeline (examples) 1Q26 Client account migrations 85% migrated 100% migrated 10.7bn ~13.7bn Cost savings1 cumulative Infrastructure and legal entities Materially complete CS legacy IT infrastructure wind-down and legal entities integration Application decommissioning % decommissioned 73% NCL apps 100% NCL apps 2Q26 11.5bn 78% NCL apps 12.6bn 88% NCL apps Decoupled all legacy CS operating entities from CS infrastructure 3Q26 4Q26 96% NCL apps 13.2bn
Page 28
27 Cautionary statement regarding forward-looking statements Cautionary statement regarding forward-looking statements | This presentation 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, flood, 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. © UBS 2026. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.
Page 29
28 October 2026 Third quarter 2026 Fixed Income investor presentation This document should be read in conjunction with the UBS Group 3Q26 Report and earnings presentation, as well as the UBS Group Annual Report 2025
Page 30
1 Important information Forward-looking statements: This presentation 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. UBS’s business and financial performance could be affected by other factors identified in our past and future filings and reports, including those filed with the US Securities and Exchange Commission (SEC). More detailed information about those factors is set forth in documents furnished by UBS and filings made by UBS with the SEC, including UBS’s Annual Report 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. Alternative Performance Measures: In addition to reporting results in accordance with International Financial Reporting Standards (IFRS), UBS reports certain measures that may qualify as Alternative Performance Measures as defined in the SIX Exchange Directive on Alternative Performance Measures, under the guidelines published by the European Securities and Markets Authority (ESMA), or defined as Non-GAAP financial measures in regulations promulgated by the SEC. Please refer to “Alternative Performance Measures” in the appendix of the UBS Group 3Q26 Report for a list of all measures UBS uses that qualify as APMs or non-GAAP measures. Disclaimer: This presentation and the information contained herein are provided solely for information purposes and are not to be construed as a solicitation of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating to securities of or relating to UBS Group AG, UBS AG, or their affiliates should be made on the basis of this document. No representation or warranty is made or implied concerning, and UBS assumes no responsibility for, the accuracy, completeness, reliability or comparability of the information contained herein relating to third parties, which is based solely on publicly available information. UBS undertakes no obligation to update the information contained herein. Available Information: UBS’s Annual Report, Interim Report, Quarterly Reports, SEC filings on Form 20-F and Form 6-K, as well as investor presentations and other financial information are available at ubs.com/investors. UBS’s Annual Report on Form 20-F, Interim Report, Quarterly Reports and other information furnished to or filed with the SEC on Form 6-K are also available at the SEC’s website: www.sec.gov. Basel III RWA, LRD and capital: Basel III RWA, LRD and capital information is based on the Swiss systemically relevant bank framework, unless otherwise stated. Refer to the “Capital management” section in the UBS Group 3Q26 Report for more information. Definitions: “Earnings per share” refers to diluted earnings per share. “Litigation” refers to net additions/releases to provisions and releases of acquisition-related contingent liabilities for litigation, regulatory and similar matters reflected in the income statement for the relevant period. “Net profit” refers to net profit attributable to shareholders. “Tangible equity” refers to tangible equity attributable to shareholders. “PPA” refers to purchase price allocation adjustments made in accordance with IFRS 3, Business Combinations, to bring the assets acquired and liabilities assumed to fair value, from the acquisition of the Credit Suisse Group. Rounding: Numbers presented throughout this presentation may not add up precisely to the totals provided in the tables 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. 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. Numbers presented in US dollars unless otherwise indicated. Currency translation of monthly income statement items of operations with a functional currency other than the US dollar are translated with month-end rates into US dollar. © UBS 2026. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.
Page 31
2 Group balance sheet3Q26 financial performance Slides 3-7 Slides 8-16 Agenda
Page 32
3 Key messages Strong 3Q26 financial performance in a complex market environment; 3Q26 net profit 2.7bn, underlying RoCET1 16.7%; underlying cost / income ratio 68.7% Robust client momentum across our businesses; 7.3trn invested assets; GWM NNA 55bn, record client commitments in UGA 12.5bn, P&C net new loans CHF 3.3bn, Global Markets underlying revenues +17% YoY Strong capital position and balance sheet for all seasons; CET1 capital ratio 14.7%, leverage ratio 4.6%; expect to complete current 3bn share buyback program by 4Q26 results Strategically committed to our diversified, global franchise and footprint; protecting the long-term interests of our shareholders, clients and employees Integration nearing completion; ~90% of legacy applications fully decommissioned, 13.2bn gross cost saves achieved
Page 33
4 3.5 3Q25 3.7 3Q26 3.6 4.1 Core: +7% +14% PBT +14% on revenue growth and positive operating leverage Refer to slide 33 for details on underlying results and reconciliation to reported results Revenues Underlying, bn Operating expenses Profit before tax 12.2 3Q25 12.6 3Q26 12.2 13.4 Core: +3% +10% 8.7 3Q25 8.8 3Q26 8.5 9.2 Core: +2% +8% Core NCL 3Q26 4.1bn 16.7% 68.7% 2.7bn 0.85 (7%) excl. litigation, variable and FA compensation, and FX PBT RoCET1 Cost / income Net profit EPS Underlying Reported (1%) excl. litigation +16% excl. litigation
Page 34
5 13.0 14.6 YE25 3Q26 ~15.1 YE26e 13.4 15.2 ~15.7 Additional efficiencies identified, ~13.7bn cumulative gross cost saves expected 1 Based on constant FX rates as of September 2023; 2 Refer to slide 25 of the 3Q26 earnings presentation for reconciliation of the FY22 combined baseline; 3 Does not include integration-related expenses booked in revenues Cumulative integration- related expenses3 FX impact At constant FX1 USD bn Underlying operating expenses 10.7 13.2 YE25 3Q26 YE26e ~13.7 Cumulative annualized exit rate gross cost reductions USD bn USD bn At constant FX1 ~1.1x gross cost saves FY22 combined cost baseline2 25.5 24.6 ~32.2 FY25 3Q26 LTM ~40.6 35.6 37.3 Excl. litigation, variable- and FA-compensation (~29%) / (~9.4bn) at constant FX (~1.3bn) vs. FY25 at constant FX +0.6bn in 3Q26 Increased from ~13.5bn
Page 35
6 NCL wind-down almost complete 3Q26 3Q25 QoQ2Q26 YoY RWA, bn LRD, bn Operating expenses Profit before tax Credit loss expense / (release) Total revenues1 764 38 366 360 13 27 44 0 96 (52) 14 28 (3%) (1%) USD m, except where indicated Underlying (42) 6 (149) 102 26 31 (47%) (11%) Profit before tax (reported) 183 (203) (102) Underlying operating expenses excl. litigation bn +281% Operating expenses excl. litigation 91 100 291 (69%)(9%) Risk-weighted assets bn Forward-looking figures based on constant FX rates; 1 3Q26 includes 697m net gain related to settlements of certain legacy legal matters; 2 Refer to slide 25 of the 3Q26 earnings presentation for reconciliation of FY22 baseline; 3 Last twelve months; 4 Also including non-counterparty-related risk RWA; 5 ~10% of Operational risk RWA to roll off through 2030, with remainder to substantially roll off in 2031-2035 FY22 combined baseline2 3Q26 LTM3 2026 exit- rate ambition FY28 ambition ~6.1 0.5 ~0.5 ~0.2 (91%) 56 30 24 2Q23 3 3Q26 ~245 ~4 YE26 ambition 86 27 ~28 (68%) (94%) ex. op. risk Operational risk Credit and market risk4 Expecting ~0.3bn +255% +554%
Page 36
7 17% 3% 9% 17% FY22, reported 2H23 FY24 FY25 9M26 14%2 Well-positioned to outperform our 2026 exit rate underlying RoCET1 target of ~15% and achieve <70% underlying cost / income ratio Group underlying return on CET1 capital 1 Reported basis; 2 11.5% excluding net litigation release and applying a normalized tax rate of 23%; 3 76% excluding net litigation release Underlying cost / income ratio 80%72%1 91% 74%3 70%
Page 37
8 Group balance sheet
Page 38
9 Our balance sheet for all seasons is a key pillar of our strategy 1 Consists of Loans and advances to customers and Amounts due from banks; 2 Level 3 assets account for ~1% of total assets; 3 Consists of short-term debt issued measured at amortized cost and Amounts due to banks, which includes amounts due to central banks; 4 11.1bn of total issuances of TLAC-eligible senior unsecured debt instruments; 5 Notional amount TLAC RWA AT1 capital CET1 capital CET1 capital ratio (%) LRD CET1 leverage ratio (%) Liquidity coverage ratio (%, average) Liquidity and funding Regulatory capital Net stable funding ratio (%) 73.1 22.8 186.7 496.1 72.5 23.5 193.6 503.9 +1% (4%) 74.7 20.3 199.3 504.9 (2%) (6%) 1,591 1,650 1,640 (2%) (2%) (4%) (3%) (3%) +12% 4.6% 4.4% 4.6% +20bps +4bps 179% 177% 182% +1pp (3pp) 115% 115% 120% (0pp) (5pp) 14.7% 14.4% 14.8% +36bps (5bps) USD bn, except where indicated 3Q26 3Q25 QoQ2Q26 YoYUSD bn, except where indicated 3Q26 3Q25 QoQ2Q26 YoY Cost of credit risk Total liabilities o/w: Lending1 o/w: Short-term borrowings3 o/w: Fair value and long-term debt o/w: Customer deposits Total assets Total equity Tangible book value per share (USD) Tangible equity 679 1,566 684 1,618 (1%)666 1,542 +2% 286 300 304 (3%) +2% (4%) (6%) 63 71 57 (12%) +11% 778 785 783 (1%) (1%) 1,655 1,707 (3%)1,632 +1% 89 89 90 82 82 83 (1%) (1%) (1%) (1%) 27.00 26.89 26.54 0% +2% o/w: Cash and balances at central banks 196 216 (9%)219 (10%) o/w: Fair value assets2 548 558 490 (2%) +12% Credit risk Credit-impaired lending assets as a % of total lending assets, gross 7bps 7bps 6bps (0bps) +1bps 1.0% 1.0% 0.9% 0.0pp 0.0pp 3Q26 − Lending assets 679bn, (4bn) QoQ with +10bn net new loans across GWM and P&C more than offset by currency effects − Deposits 778bn, (6bn) QoQ with +4bn net new deposit inflows across GWM and P&C more than offset by currency effects 3Q26 − Strong liquidity position with average LCR of 179%, 324bn of high- quality liquid assets − Issued 11.0bn4 of syndicated TLAC-eligible Holdco bonds, primarily to refinance USD 9.8bn5 debt repurchased
Page 39
10 0.6% 0.0% 0.1% 2Q26 Net profit1 Dividend accrual Currency effects2 RWA excl. currency effects Other3 3Q26 14.4% (0.2%) (0.1%) 14.7% Strong capital generation and discipline while funding capital return ambitions 1 Profit before tax less current tax expense; 2 0.7bn reduction in CET1 capital, offset by the effects of 4.7bn reduction in RWA; 3 Includes (0.7bn) from compensation and own-share-related capital components and movements related to other items CET1 capital ratio CET1 capital, bn 72.5 (0.9) (0.7) n/a 73.1(0.7)2.9 − RWA 496bn, (8bn) QoQ − CET1 leverage ratio 4.6%, +20bps QoQ, with LRD 1,591bn, (59bn) QoQ − Refer to slide 21 for full QoQ RWA and LRD walk − 14.5% UBS AG standalone CET1 capital ratio, fully applied as of 3Q26
Page 40
11 Funding overview 1 Consists of short-term debt issued measured at amortized cost and amounts due to banks, which includes amounts due to central banks; 2 The classification of debt issued measured at amortized cost into short-term and long-term is based on original contractual maturity and therefore long-term debt also includes debt with a remaining time to maturity of less than one year. This classification does not consider any early redemption features; 3 Debt issued designated at fair value and long-term debt issued at amortized cost 89bn shareholder equity − (0.6bn), predominantly due to share repurchases under our 2026 share repurchase programs 349bn debt − Of which short-term debt1,2: 63bn − Of which long-term debt2,3: 286bn 779bn customer deposits − GWM deposits (0.6bn); with net new deposits of +1.8bn − P&C deposits in CHF +2.8bnwith net new deposits of CHF +1.8bn − Coverage ratio at 118% 3Q26, QoQ 6% 7% 7% 25% 24% 24% 8% 5% 5% 60% 63% 63% 1% 2023 2024 1% 2025 100% 1,329 1,191 1,248 Securities financing transactions Customer deposits Short-term borrowings1,2 Fair value and long-term debt2,3 Shareholder equity Group funding USD bn, as of period-end 7% 23% 5% 63% 2% 3Q26 100% 1,237
Page 41
12 Capital markets issuances and redemptions Upcoming maturities and first calls1,2Issuances and redemptions USD bn USD bn, as of 30.9.26 Figures refer to notional values at current FX; Does not include TLAC special feature notes and structured notes. For further information on our benchmark issuance please refer to Benchmark bonds; 1 Based on outstanding issuances of UBS Group AG, UBS AG and UBS Switzerland AG; 2 Maturities and first calls reflect instruments maturing on their next call date for illustrative purposes only. UBS makes no representation on its intention to call the instruments; 3 Against maturities and first calls of ~20bn for HoldCo and maturities of ~14bn for OpCo in FY26; 4 Does not include the 9.8bn HoldCo issued in the context of the 9.7bn liability management exercise completed in September 2026 − Net negative issuer of OpCo3 − Continue to access the Covered Bond market subject to issuance conditions being constructive 2026 issuances, year-to-date AT1 USD 4.5bn AUD 1.0bn HoldCo USD 11.3bn EUR 5.0bn CHF 0.6bn GBP 1.0bn JPY 110.0bn Covered bonds EUR 2.3bn CHF 0.7bn 2026 funding plan2 5 20 27 10 133 Issuances Redemptions 38 42 2012 19 12 1 2 2026 2 3 2 2027 82 2028 and beyond 3 19 1329M26 AT1 Senior bonds (HoldCo) Senior bonds (OpCo) Covered bonds As of 28.10.26 OpCo USD 6.6bn EUR 1.3bn AUD 2.8bn CNY 2.0bn − 2026 AT1 plan completed; executed opportunistic pre- funding of 2027 plan − 2026 HoldCo plan completed, net negative issuer of HoldCo with 10bn3,4 syndicated issuance (excluding replacement issuance related to the LME) We manage our funding resources prudently, leveragingmarket options across all currencies to maintain a balance sheet for all seasons Other funding Regulatory capital
Page 42
13 Long-term wholesale funding diversification As of quarter-end, does not include TLAC special feature notes and structured notes. Issuance view. 1 Redemptions reflect instruments maturing on their next call date for illustrative purposes only. UBS makes no representation on its intention to call the instruments By currency USD 58% EUR 30% CHF 5% Other 8% HoldCo 62%AT1 14% OpCo 15% Covered Bonds 9% By source Group funding 3Q26 <1 year 13% 1-3 years 26% 3-5 years 25% >5 years 36% By maturity1 Total long-term wholesale funding: 155bn
Page 43
14 Liquidity: Balancing efficiency with resiliency and safety Refer to the “Liquidity and funding management” section of the UBS Group 3Q26 Report. 1 Represents the ratio between average HQLA and net cash outflows expected over a stress period of 30 calendar days; Calculated after the application of haircuts and inflow and outflow rates, as well as, where applicable, caps on Level 2 assets and cash inflows; Looking ahead, we expect our LCR to remain around the 4Q25 level, reflecting both the prudent buffers we have long maintained and the more stringent Swiss liquidity requirements, which were fully phased in by the end of 2024, and which are more onerous than those in other jurisdictions; 2 Represents the net cash outflows expected over a stress period of 30 calendar days 3 Liquidity coverage ratio1 quarterly averages 188% 181% 182% 182% 183% 178% 177% 179% 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Average high-quality liquid assets, bn 319 347 332359332 342334 324 Net cash outflows2, bn 176 190 182197176 193188 182
Page 44
15 Deposits A well diversified deposit base 3Q26 GWM 61%1 P&C 39% Demand 32% Retail savings 30% Sweeps 5% Time deposits 33% By type USD 39% CHF 43% EUR 9% Other 9% By currency By client segment 1 Includes customer brokerage payables which are presented in separate reporting lines on the balance sheet Total deposits: 779bn
Page 45
16 High-quality loan portfolio, mostly secured by real estate or securities Mortgages 57%1 Lombard 25% Corporates2 7% Other3 11% − Mortgages have average LTV of ~50% with strict affordability criteria and with a majority in Switzerland − Lombard / securities-based lending is fully collateralized with daily monitoring of margin requirements − Corporate exposure predominantly in Switzerland Loans and advances to customers On-balance sheet, 3Q26 1 Mortgages consists of Private clients with mortgages and Real estate financing; 2 Consists of large corporate clients and SME clients; 3 Includes ship / aircraft financing, commodity trade finance, credit cards, consumer financing and other 658bn
Page 46
17 Appendix Group balance sheet and credit quality 3Q26 financial results
Page 47
18 89 126 70 67 239 229 176 58 71 286 658 778 217 63 Liabilities & Equity 1 2 3 4 5 6 7 8 9 a 42 55 c d e f g h Assets i 21 j 1,655 1,655 1946 b Coverage ratio: 118% Loan-to-deposit ratio: 85% Balance sheet Refer to the “Balance sheet” section of the UBS Group 3Q26 Report for more information; 1 Consists of financial assets at fair value not held for trading and financial assets measured at fair value through other comprehensive income; 2 Consists of short-term debt issued measured at amortized cost and amounts due to banks, which includes amounts due to central banks; 3 The classification of debt issued measured at amortized cost into short-term and long-term is based on original contractual maturity and therefore long-term debt also includes debt with a remaining time to maturity of less than one year. This classification does not consider any early redemption features 1. Cash and balances at central banks and amounts due from banks 2. Loans and advances to customers 3. Securities financing transactions at amortized cost 4. Trading assets 5. Derivatives and cash collateral receivables on derivative instruments 6. Brokerage receivables 7. Other financial assets measured at amortized cost 8. Other financial assets measured at fair value1 9. Non-financial assets a. Short-term borrowings2,3 b. Securities financing transactions at amortized cost c. Customer deposits d. Debt issued designated at fair value and long-term debt issued measured at amortized cost3 e. Trading liabilities f. Derivatives and cash collateral payables on derivative instruments g. Brokerage payables h. Other financial liabilities i. Non-financial liabilities j. Equity 3Q26
Page 48
19 Credit loss expense / (release) and credit-impaired exposures 1 Other includes Asset Management and Group Items; 2 IFRS 9 gross exposure for banking products includes the following financial instruments within the scope of expected credit loss measurement: balances at central banks, amounts due from banks, loans and advances to customers, other financial assets at amortized cost, guarantees and irrevocable loan commitments Total credit-impaired exposure, gross (stage 3/PCI)2 USD bn 3Q25 4Q25 1Q26 2Q26 3Q26 GWM 1,766 1,748 2,108 2,162 1,956 P&C 3,965 4,112 4,049 4,253 4,436 IB 648 641 631 754 895 NCL 955 863 437 520 482 Other1 0 0 0 0 0 Total 7,334 7,363 7,226 7,689 7,770 Credit loss expense / (release) USD m 3Q25 4Q25 1Q26 2Q26 3Q26 GWM 7 32 9 (2) 10 P&C 72 101 70 76 33 IB 17 34 65 45 30 NCL 6 (12) (74) 0 38 Other1 0 4 0 1 2 Total 102 159 70 121 114 ECL coverage ratio for core loan portfolio (stage 3) On balance sheet 3Q25 4Q25 1Q26 2Q26 3Q26 27.3% 29.1% 29.0% 28.1% 26.7%
Page 49
20 Overview of capital requirements and ratios Refer to the “Capital Management” section of the UBS Group 3Q26 Report for more information 3Q26 186.7bn Gone concern: 90.8bn Going concern: 95.9bn o/w CET1 73.1bn 3Q26 37.6% Gone concern: 18.3% Going concern: 19.3% o/w CET1 14.7% vs. guidance: ~14% 3Q26 11.7% Gone concern: 5.7% Going concern: 6.0% o/w CET1 4.6% vs. guidance: >4% CET1: 10.8% Going concern: 15.2% Requirements Total loss-absorbing capacity: 26.1% Requirements CET1: 3.58% Going concern: 5.08% Total loss-absorbing capacity: 8.88% RWA 496.1bn LRD 1,591.2bn
Page 50
21 318.5 RWA and LRD QoQ walk Risk-weighted assets bn Leverage ratio denominator bn 2Q26 Credit and counterparty credit risk Non-counterparty- related risk Market risk Operational risk Currency effects 3Q26 503.9 (2.3) 0.0 (0.8) 0.0 (4.7) 496.1 (2%) 2Q26 On-balance sheet exposures Derivatives Securities financing transactions Off-balance sheet items Currency effects 3Q26 1,649.8 (15.2) (12.5) (11.1) 0.6 (20.3) 1,591.2 (4%)
Page 51
22 Issuances – 2026 year-to-date ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/ Maturity US902613BV99 AT1 USD 1.500 6.625% 08.01.26 08.01.31 US902613BW72 AT1 USD 1.500 7.000% 08.01.26 08.01.36 CH1512676888 HoldCo EUR 1.500 3.125% 13.01.26 13.02.30 CH1512676896 HoldCo EUR 1.500 3.875% 13.01.26 13.01.36 CH1512676912 Covered Bond CHF 0.150 0.435% 15.01.26 15.01.29 CH1512676920 Covered Bond CHF 0.190 0.745% 15.01.26 15.01.32 CH1512676938 Covered Bond CHF 0.345 1.023% 15.01.26 15.01.36 US225401BQ07 HoldCo USD 0.500 SOFR + 84bps 10.02.26 10.04.29 US225401BR89 HoldCo USD 2.000 4.214% 10.02.26 10.04.29 US225401BS62 HoldCo USD 1.250 4.588% 10.02.26 10.08.31 US225401BT46 HoldCo USD 1.500 5.199% 10.02.26 10.08.36 CH1522231294 AT1 AUD 1.000 7.125% 13.02.26 13.08.32 CH1522231302 Covered Bond EUR 0.750 2.560% 18.02.26 18.08.29 CH1522231310 Covered Bond EUR 0.750 3.012% 18.02.26 18.02.33 US90261AAF93 OpCo USD 0.500 SOFR + 81bps 16.03.26 16.03.28 US90261AAG76 OpCo USD 1.300 4.302% 16.03.26 16.03.28 US90261AAH59 OpCo USD 1.250 4.632% 16.03.26 16.02.31 AU3FN0109021 OpCo AUD 1.400 BBSW + 73bps 14.04.26 14.04.29 As of 28.10.26; Does not include TLAC special feature notes and structured notes. For further information on our benchmark issuance please refer to Benchmark bonds ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/ Maturity AU3FN0109039 OpCo AUD 1.150 BBSW + 86bps 14.04.26 14.04.31 AU3CB0333680 OpCo AUD 0.200 5.518% 14.04.26 14.04.31 US90261AAJ16 OpCo USD 1.500 4.678% 29.05.26 29.11.29 XS3393866259 OpCo EUR 1.250 3.422% 01.06.26 01.08.31 CH1331113469 Covered Bond EUR 0.750 3.304% 03.06.26 05.03.29 US902613BX55 AT1 USD 1.500 6.875% 05.06.26 05.06.32 CH1571219364 HoldCo JPY 65.600 2.362% 02.07.26 02.07.29 CH1571219372 HoldCo JPY 35.600 2.759% 02.07.26 02.07.31 CH1571219380 HoldCo JPY 8.800 3.427% 02.07.26 02.07.36 US90261AAL61 OpCo USD 0.750 SOFR + 62.5bps 07.08.26 07.08.29 US90261AAK88 OpCo USD 1.250 5.053% 07.08.26 07.08.32 CH1593190999 HoldCo CHF 0.265 1.125% 12.08.26 12.08.31 CH1593191005 HoldCo CHF 0.285 1.491% 12.08.26 14.02.35 CND1000BH8R6 OpCo CNY 2.000 1.780% 27.08.26 27.08.31 CH1598620016 HoldCo EUR 2.000 4.521% 08.09.26 08.09.37 CH1598620024 HoldCo GBP 1.000 5.697% 08.09.26 08.09.32 US902613BY39 HoldCo USD 2.250 5.379% 11.09.26 11.10.31 US902613BZ04 HoldCo USD 2.000 5.714% 11.09.26 11.09.34 US902613CA44 HoldCo USD 1.750 6.293% 11.09.26 11.09.47
Page 52
23 Redemptions – 2026 year-to-date (1/2) ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/ Maturity XS2345982362 OpCo EUR 1.328 0.250% 21.05.21 05.01.26 US902613AU26 HoldCo USD 1.750 5.711% 12.01.23 12.01.26 US902613AC28 HoldCo USD 1.300 1.364% 30.07.20 30.01.26 US225401AT54 HoldCo USD 2.000 1.305% 02.02.21 02.02.26 CH0310451858 HoldCo CHF 0.150 1.250% 22.02.16 23.02.26 AU3CB0278174 OpCo AUD 0.300 1.100% 26.02.21 26.02.26 AU3FN0058608 OpCo AUD 0.700 BBSW + 50bps 26.02.21 26.02.26 XS2575155671 OpCo GBP 0.500 7.750% 10.01.23 10.03.26 XS2326546434 OpCo EUR 1.500 0.010% 31.03.21 31.03.26 XS1392459381 OpCo EUR 1.496 1.500% 11.04.16 10.04.26 XS2800795291 OpCo EUR 1.500 3mEuribor + 35bps 12.04.24 13.04.26 US90351DAF42 HoldCo USD 2.000 4.125% 05.04.16 15.04.26 US90351DAF42 HoldCo USD 2.000 4.125% 05.04.16 15.04.26 US902613BA52 HoldCo USD 2.000 4.550% 18.04.16 17.04.26 AU3FN0077962 OpCo AUD 0.600 BBSW + 130bps 12.05.23 12.05.26 ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/ Maturity CH0336602930 HoldCo EUR 1.250 1.250% 01.09.16 01.06.26 US902674ZZ69 OpCo USD 1.000 1.250% 01.06.21 01.06.26 US902613AG32 AT1 USD 0.750 3.875% 02.06.21 02.06.26 CH1194000340 HoldCo EUR 1.000 2.750% 15.06.22 15.06.26 CH0483180946 HoldCo EUR 1.000 1.000% 24.06.19 24.06.26 CH0483180946 HoldCo EUR 0.500 1.000% 23.07.19 24.06.26 XS2358287238 OpCo EUR 0.500 0.010% 29.06.21 29.06.26 CH1194355082 Covered Bond CHF 0.210 1.875% 29.06.22 29.06.26 XS2860945893 OpCo JPY 20.000 0.603% 16.07.24 16.07.26 XS2860945893 OpCo JPY 20.000 0.603% 16.07.24 16.07.26 CH0558521263 AT1 USD 0.750 5.125% 29.07.20 29.07.26 CH0558521263 AT1 USD 0.750 5.125% 29.07.20 29.07.26 US902613AS79 HoldCo USD 1.750 4.703% 05.08.22 05.08.26 US22550L2G55 OpCo USD 1.631 1.250% 09.08.21 07.08.26 As of 28.10.26; Does not include TLAC special feature notes and structured notes. For further information on our benchmark issuance please refer to Benchmark bonds
Page 53
24 Redemptions – 2026 year-to-date (2/2) ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/ Maturity US902613AH15 HoldCo USD 2.000 1.494% 10.08.21 10.08.26 XS2589907653 OpCo EUR 0.500 5.500% 20.02.23 20.08.26 XS2589907653 OpCo EUR 0.250 5.500% 21.02.23 20.08.26 US870845AC84 Legacy Capital USD 0.218 7.750% 03.09.96 01.09.26 CH1211713198 HoldCo GBP 0.634 7.375% 07.09.22 14.09.26 US225401AV01 HoldCo USD 0.186 6.442% 12.08.22 14.09.26 US225401AC20 HoldCo USD 1.073 4.282% 09.01.17 14.09.26 US225401BB38 HoldCo USD 0.101 9.016% 14.11.22 14.09.26 US225401AZ15 HoldCo USD 0.234 6.537% 12.08.22 14.09.26 CH1214797172 HoldCo EUR 1.384 7.750% 14.11.22 14.09.26 US225401AF50 HoldCo USD 1.573 3.869% 12.01.18 14.09.26 CH1142754311 HoldCo GBP 0.310 2.125% 15.11.21 14.09.26 US225401AP33 HoldCo USD 1.884 4.194% 01.04.20 14.09.26 US225401AC20 HoldCo USD 2.250 4.282% 09.01.17 17.09.26 US225401AV01 HoldCo USD 1.750 6.442% 12.08.22 17.09.26 ISIN Instrument Currency Notional (bn) Coupon Rate Issuance Date Call/ Maturity CH1211713198 HoldCo GBP 0.750 7.375% 07.09.22 17.09.26 US225401AV01 HoldCo USD 1.053 6.442% 07.11.25 17.09.26 CH1211713180 HoldCo GBP 0.750 7.000% 07.09.22 30.09.26 CH1300277717 Covered Bond CHF 0.350 1.820% 18.10.23 18.10.26 CH0385997058 HoldCo JPY 8.300 0.904% 27.10.17 27.10.26 As of 28.10.26; Does not include TLAC special feature notes and structured notes. For further information on our benchmark issuance please refer to Benchmark bonds
Page 54
25 Source: Moody’s, S&P and Fitch’s websites; Holding companies: JPMorgan Chase & Co.; Bank of America Corporation; Citigroup Inc.; The Goldman Sachs Group, Inc.; Morgan Stanley; UBS Group AG; HSBC Holdings PLC; Barclays Plc; 1 BNP (BNP Paribas), SocGen (Société Générale) and Deutsche Bank (Deutsche Bank AG) have no holding company, but Moody's classifies certain parent company issuances as "junior senior unsecured“, S&P classifies certain parent company issuances as "senior subordinated“ and Fitch classifies certain parent company issuances as "senior non-preferred“ Credit ratings peer comparison MOODY’S S&P FITCH Long-term senior unsecured debt – holding company, as of 27.10.26 Aa3Baa3 Baa2 Baa1 A3 A2 A1Ba1 AA-BBB- BBB BBB+ A- A A+BB+ AA-BBB- BBB BBB+ A- A A+BB+ JPM Citi GS MS BoA Barclays HSBC BNP1 SocGen1 DB1 UBS Review for upgradeReview for downgrade Outlook stable [No arrow] Outlook positiveOutlook negative
Page 55
26 Source: Moody’s, S&P and Fitch’s websites; Operating companies: JPMorgan Chase Bank, N.A.; Bank of America, N.A.; Citibank, N.A.; Goldman Sachs Bank USA; Morgan Stanley Bank, N.A.; UBS AG; Hongkong and Shanghai Banking Corp. Ltd ; Barclays Bank PLC; BNP Paribas; Societe Generale; Deutsche Bank AG Credit ratings peer comparison MOODY’S S&P FITCH Long-term senior unsecured debt – operating company, as of 27.10.26 Aa1Baa2 A3 A2 A1 Aa3 Aa2Baa1 BBB A- A A+ AA- AABBB- BBB+ BBB A- A A+ AA- AABBB- BBB+ Citi GS MS BNP HSBC Barclays DB UBS BoA SocGen JPM Review for upgradeReview for downgrade Outlook stable [No arrow] Outlook positiveOutlook negative
Page 56
27 Ratings on main UBS entities A list of solicited ratings for UBS’s issuing entities can be accessed via www.ubs.com/ratings MOODY’S S&P FITCH A+/Stable AA/ Stable Aa3/Stable A+/Stable AA/ Stable Aa2/Stable A+/Stable AA/ Stable A+/Stable AA/ StableAa2/Stable A-/Stable A+/StableA2/Stable UBS Switzerland AG UBS Europe SE UBS AG Credit Suisse International UBS Group AG Long-term Short-term Long-term Short-term Long-term Short-term Long-term Short-term Long-term P-1 A-1 F1+ A-1 F1+ P-1 A-1 F1+ P-1 A-1 F1+
Page 57
28 Legal structure of the UBS Group 1 Other non-US subsidiaries are held either directly or indirectly by UBS AG; 2 Name has been changed in connection with the conversion to a US national bank on 20 March 2026; 3 Of which 99% directly held by UBS Americas Inc. and 1% held by UBS Americas Holding LLC; 4 Typically held either directly or indirectly by UBS Americas Inc.; 5 And other small former Credit Suisse Group entities now directly held by UBS Group AG As of 30.9.26
Page 58
29 Appendix Group balance sheet and credit quality 3Q26 financial results
Page 59
30 Our Group financial targets and ambitions ~15% Underlying RoCET1 2026 exit rate Financial targets <70% Underlying cost / income ratio 2026 exit rate Capital guidance ~14% CET1 capital ratio >4.0% CET1 leverage ratio Ambitions 2028 ~18% Reported RoCET11 ~67% Reported cost / income ratio 1 Based on 2026 capital framework and ~14% CET1 capital ratio
Page 60
31 199 161 17 67 259 GWM P&C AM IB NCL Group Items Non- underlying expenses2 Non- underlying revenues2,3 3,590 (215) 4,077 (38) (452) 3,587 (897) 2,690 3Q26 PBT 3Q26 net profit Tax and NCI 3Q26 reported PBT 3Q25 PBT Net profit 2.7bn driven by PBT growth across our businesses Profits m o/w tax: (887m) Underlying o/w (346m) from repurchase of legacy CS debt1 ~0.5bn expected in 4Q26 1 Impact includes a loss of 587m before PPA adjustments, partly offset by a 241m gain from the release of PPA adjustments; 2 Refer to slide 33 for details on underlying results and reconciliation to reported results; 3 ~0.2bn of non-underlying revenues expected in 4Q26
Page 61
32 UBS Group results Credit loss expense / (release) Operating expenses of which: current tax expense Tax expense / (benefit) Total revenues Operating profit / (loss) before tax Net profit / (loss) attributable to shareholders Diluted EPS (USD) Return on CET1 capital Tangible book value per share (USD) Total book value per share (USD) Cost / income ratio Return on tangible equity Reported, USD m, except where indicated 3Q25 102 9,831 335 341 12,760 2,828 2,481 0.76 13.5% 28.78 77.0% 26.54 12.0% 3Q26 114 9,648 648 887 13,350 3,587 2,690 14.8% 29.24 72.3% 27.00 13.1% 2Q26 121 9,986 545 782 13,700 3,594 2,800 0.87 15.4% 29.12 72.9% 26.89 13.4% 4Q25 159 10,286 276 495 12,145 1,700 1,199 0.37 6.6% 29.18 84.7% 26.93 5.8% 1Q26 72.5% 70 10,333 473 786 14,243 3,841 3,040 0.94 16.8% 27.50 14.4% 29.72 Effective tax rate 12.0%21.8% 29.1%20.5%24.7% Tangible book value per share (CHF) 21.1422.58 21.74 21.3522.00 0.85 Total book value per share (CHF) 22.9224.46 23.55 23.1423.78
Page 62
33 3Q26 overview of financial performance by business division 1 Includes accretion of PPA adjustments on financial instruments and other PPA effects, as well as temporary and incremental it ems directly related to the integration; 2 Includes a USD 346m net loss from the repurchase of legacy Credit Suisse debt instruments, as the repurchase price exceeded the amortized-cost carrying value (the net loss reflects a loss of USD 587m before PPA adjustments, partly offset by a USD 241m gain from the release of PPA adjustments); 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 Total revenues as reported of which: PPA effects and other integration items1 Total revenues (underlying) Credit loss expense / (release) Operating expenses as reported of which: integration-related expenses and PPA effects3 Operating expenses (underlying) Operating profit / (loss) before tax as reported Operating profit / (loss) before tax (underlying) Underlying return on CET1 capital Underlying return on tangible equity Underlying cost / income ratio GWM P&C AM IB NCL Group Items 7,002 2,360 780 3,239 764 (795) 104 174 21 (337)2 6,898 2,186 780 3,218 764 (459) 10 33 0 30 38 2 5,072 1,210 508 2,371 544 (58) 157 51 28 37 177 0 4,915 1,159 480 2,334 366 (58) 1,919 1,117 271 838 183 (740) 1,972 994 300 854 360 (403) 71.3% 53.0% 61.6% 72.5% n.m. n.m. 13,350 (38) 13,387 114 9,648 452 9,197 3,587 4,077 16.7% 14.9% 68.7% UBS GroupUSD m, except where indicated Operating profit / (loss) before tax (underlying excl. litigation) 1,974 994 300 908 635 (398)4,413 0
Page 63
34 Global Wealth Management PBT 1,972m, +11% YoY, +25% YoY excluding litigation Credit loss expense 10m Operating expenses 4,915m, +6% YoY, (4%) excluding variable compensation, litigation and FX effects Net new assets 55bn; net new fee-generating assets 13bn Invested assets 4,977bn, +1% QoQ driven by NNA, partly offset by negative currency effects and market performance Net new deposits +1.8bn driven by inflows in fixed-term deposits, partly offset by outflows in current accounts Net new loans +5.8bn driven by securities-based lending Cost / income ratio Invested assets, bn Deposits, bn Loans, bn Other revenues Net interest income Recurring net fee income Transaction-based income Operating expenses Profit before tax Credit loss expense / (release) Total revenues USD m, except where indicated 3Q26 6,898 71% 4,915 10 4,977 476 336 1,755 3,801 1,323 18 6,410 72% 4,714 478 322 37 1,631 3,475 1,267 4,629 1,774 7 3Q25 (1%) (0pp) +1% (0%) 0% 0% +2% (12%) (2%) (1%) QoQ Underlying RWA, bn 163 170 (2%) 6,997 71% 4,942 477 335 25 1,750 3,711 1,511 5,002 1,997 (2) 2Q26 167 +8% (1pp) +6% (0%) +4% +8% +9% +4% +6% +11% YoY (4%) Profit before tax (reported) 1,919 1,354 +2%1,883 +42% Underlying 3Q26 Total revenues 6,898m, +8% YoY − NII +8%, flat QoQ reflecting increased deposit margins and loan volumes, offset by mix shift − Recurring net fee income +9% on higher fee-generating assets − Transaction-based income +4% on higher client activity, particularly in the Americas 1,972
Page 64
35 3Q26 Global Wealth Management results by region Table excludes divisional items. Refer to the “Global Wealth Management” section of the UBS Group 3Q26 Report for more information; 1 Excluding litigation, underlying PBT was +21% YoY in Americas, +19% YoY in APAC, +39% YoY in EMEA and +34% YoY in Switzerland; 2 The YoY decrease in advisor headcount included the impact from the reclassification of certain roles in 2Q26 to align role classifications globally; the reclassification impact primarily affected the Switzerland and EMEA regions; comparative figure s have not been restated Invested assets, bn Net new assets, bn Underlying cost / income ratio Transaction-based income, m Underlying operating expenses, m Recurring net fee income, m Net interest income, m Other revenues, m Underlying revenues, m Loans, bn Net new deposits, bn Net new loans, bn Credit loss expense / (release), m Deposits, bn Underlying PBT, m Fee-generating assets, bn Net new fee-generating assets, bn Advisors (full-time equivalents)2 16.7 2,424 2,849 2,321 3,380 1.0 125 530 7.5 1,248 5,601 Americas EMEAAPAC Switzerland (8.6) 2,284 86% 2,669 416 2,147 527 7 3,097 1.8 101 0.8 13 116 416 3Q25 84% 460 575 23 113 4.2 1 3Q26 YoY (2pp) 7% 11% 8% 9% 9% 28%1 12% 6% 8% 37.9 816 59% 614 411 280 349 (6) 1,035 (2.1) 45 0.2 (2) 120 422 3Q25 17.9 820 54% 602 421 335 359 (8) 1,107 3.5 50 0.0 3 118 503 3Q26 YoY (5pp) (2%) 2% 20% 3% 7% 19%1 10% 1% (2%) 5.6 752 58% 700 255 572 378 (2) 1,203 (4.7) 64 0.8 8 112 496 9 3Q25 8.7 807 63% 812 250 623 425 (2) 1,295 (0.7) 63 0.9 108 474 3Q26 YoY 5pp 16% (2%) 9% 13% 8% (4%)1 (1%) 7% (4%) 3.2 859 61% 634 206 465 371 2 1,045 (4.7) 110 1.8 (13) 125 423 3Q25 12.1 922 58% 648 210 509 409 (2) 1,126 (1.9) 108 0.7 (2) 121 480 3Q26 YoY (3pp) 2% 1% 9% 10% 8% 13%1 (2%) 7% (3%) (1.7) 1,175 6% 3.7 199 4.7 228 15% 5.7 434 (0.9) 491 13% 1.2 257 1.6 285 11% 5,779 (3%) 919959 4% 1,5001,396 (7%) 1,2181,090 (11%)
Page 65
36 Personal & Corporate Banking (CHF) Underlying 3Q26 PBT 813m, +22% YoY Credit loss expense 27m, with net expenses of 55m on stage 3 positions, partly offset by a model overlay release Operating expenses 947m, (5%) YoY driven by integration synergies Total revenues 1,787m, +4% YoY − NII +2%, +3% QoQ driven by lending momentum − Non-interest revenue +5% on higher asset-based and credit card fees in Personal Banking Cost / income ratio Deposits, bn Loans, bn Other revenues Net interest income Recurring net fee income Transaction-based income Operating expenses Profit before tax Credit loss expense / (release) Total revenues CHF m, except where indicated Underlying RWA, bn Profit before tax (reported) 53% 813 27 1,787 947 255 256 942 381 427 38 123 915 1,741 58% 253 251 29 918 358 436 1,004 676 61 122 1,724 58% 247 247 11 919 351 443 998 668 58 120 676 507 +3% (5pp) +1% +2% +3% +6% (2%) (6%) +20% +1% +35% +4% (5pp) +4% +4% +2% +8% (4%) (5%) +22% +2% +80% 3Q26 3Q25 QoQ2Q26 YoY Net new loans +3.3bn driven by mortgages and commodity trade finance Net new deposits +1.8bn driven by inflows across Personal Banking and Corporate & Institutional Clients (56%) (53%)
Page 66
37 3Q25 QoQ2Q26 YoY Asset Management Total revenues 780m, (7%) YoY on lower performance fees mainly reflecting a business exit, partly offset by higher net management fees Operating expenses 480m, (14%) YoY mainly due to lower personnel and non-personnel expenses, and including the effects from a business exit Invested assets 2,201bn, (1%) QoQ reflecting negative currency effects and net new money outflows, partly offset by positive market performance Net new money (5.1bn), driven by outflows in institutional mandates and money market, partly offset by inflows to ETFs, SMAs and UGA PBT 300m, +6% YoY Cost / income ratio Invested assets, bn Net new money, bn Net management fees Performance fees Net gain / (loss) from disposal Operating expenses Profit before tax Credit loss expense / (release) Total revenues USD m, except where indicated Underlying Profit before tax (reported) Underlying 3Q26 62% 480 300 780 0 (5) 2,201 767 16 69% 519 237 756 6 2,228 731 25 0 66% 560 282 843 18 2,043 755 87 0 (7pp) (7%) +27% +3% (1%) +5% (37%) (5pp) (14%) +6% (7%) +8% +2% (82%) 271 214 218 +27% +24% 3Q26 (3) 1
Page 67
38 3Q26 3Q25 QoQ2Q26 YoY Global Markets revenues +17% YoY − Execution Services +18% with increases in all regions − Derivatives & Solutions +5% driven by Equity Derivatives and FX − Financing +32% on higher Prime Brokerage revenues Of which: − Equities 2,007m, +22% − FRC 541m, +1% Global Banking revenues (21%) YoY − Advisory (44%) compared with a record 3Q25, affected by deal timing − Capital Markets (6%) on lower LCM revenues, partly offset by higher ECM and DCM revenues Underlying 3Q26 Operating expenses +5% YoY reflecting higher non- personnel costs PBT 854m; revenues +6% YoY; RoAE 17.7% with RWA +3% YoY and LRD flat YoY USD m, except where indicated Underlying Investment Bank Cost / income ratio Operating expenses Profit before tax Credit loss expense / (release) Global Markets Execution Services Global Banking Advisory Capital Markets Derivatives & Solutions Financing Total revenues 3,218 30 2,334 854 73% 670 181 488 2,548 664 997 887 3,025 2,221 671 17 950 844 324 520 2,181 787 73% 560 (1pp) RWA, bn 116 112 LRD, bn 468 470 (0%) 3,701 2,494 937 45 1,329 693 184 509 3,008 1,162 67% 742 115 496 (13%) (6%) (5%) (25%) (3%) (1%) (4%) (15%) +5pp (11%) +1% (6%) (27%) Profit before tax (reported) 838 900 +6% +5% +32% +5% (21%) (44%) (6%) +17% +18% +3% +9% (7%)1,150 (27%) (33%) +80% Return on attributed equity 17.7% 17.0% +0.8pp23.5% (5.7pp)
Page 68
39 Group Items − Reported PBT (740m) driven by liability management exercise (LME) and losses related to group hedging and own debt − 9.8bn of legacy Credit Suisse debt repurchased resulting in a net reported loss of 346m1 − 265m net loss related to hedging and own credit, driven by the sharp rise in US dollar interest rates 1 9.8bn notional amount; 3Q26 impact includes a loss of 587m before PPA adjustments, partly offset by a 241m gain from the release of PPA adjustments 3Q26 (740) (403) (138) Reported PBT LME, PPA effects and other integration items Underlying PBT Group hedging and own debt Underlying PBT excluding group hedging and own debt (346m) from LME1 (265) (337)
Page 69
40 Capturing final synergies from the integration 1 Based on constant FX rates as of September 2023 Illustrative key milestone timeline (examples) 1Q26 Client account migrations 85% migrated 100% migrated 10.7bn ~13.7bn Cost savings1 cumulative Infrastructure and legal entities Materially complete CS legacy IT infrastructure wind-down and legal entities integration Application decommissioning % decommissioned 73% NCL apps 100% NCL apps 2Q26 11.5bn 78% NCL apps 12.6bn 88% NCL apps Decoupled all legacy CS operating entities from CS infrastructure 3Q26 4Q26 96% NCL apps 13.2bn
Page 70
41 Cautionary statement regarding forward-looking statements Cautionary statement regarding forward-looking statements | This presentation 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, flood, 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. © UBS 2026. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.