UBS : Quartalsberichte

First quarter 2023

Financial results

25 April 2023

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 or intentions to achieve climate, sustainability and other social objectives. 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 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 2022. 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 Market Authority (ESMA), or defined as Non-GAAP financial measures in regulations promulgated by the US Securities and Exchange Commission (SEC). Please refer to "Alternative Performance Measures" in the appendix of UBS's Quarterly Report for the first quarter of 2023 for a list of all measures UBS uses that may qualify as APMs.

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Basel III RWA, LRD and capital: Basel III numbers are based on the BIS Basel III framework, as applicable for Swiss systemically relevant banks (SRB). Numbers in the presentation are based on the revised Swiss SRB rules as of

1.1.20 that became effective on 1.7.16, unless otherwise stated. Basel III risk-weighted assets in this presentation are calculated on the basis of Swiss SRB rules as of 1.1.20 unless otherwise stated. Our RWA under BIS Basel III are the same as under Swiss SRB Basel III. Leverage ratio and leverage ratio denominator in this presentation are calculated on the basis of Swiss SRB rules as of 1.1.20, unless otherwise stated. Refer to the "Capital management" section in the 1Q23 report for more information.

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.

Definitions: "Earnings per share" refers to diluted earnings per share. "Litigation" refers to net additions/releases to provisions for litigation regulatory and similar matters reflected in the income statement for the relevant period. "Net profit" refers to net profit attributable to shareholders. "Sustainability-focus and impact" refers to sustainability-focus and impact investing; sustainability focus refers to strategies that have sustainability as an explicit part of the investment guidelines, universe, selection, and/or investment process that drive the strategy; impact investing refers to strategies that have an explicit intention to generate measurable, verifiable, positive sustainability outcomes. "Net new fee-generating assets" exclude the effects on fee-generating assets of strategic decisions by UBS to exit markets or services.

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.

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1

Agenda

Key messages

Sergio P. Ermotti, Group CEO

Financial performance

Sarah Youngwood, Group CFO

Q&A

2

Key messages

Solid underlying results and strong liquidity and capital in uncertain market conditions

Continued client momentum with inflows in all regions

Enhancing client franchises through the announced acquisition of Credit Suisse

1Q23 - reported1Q23 - underlying1

1.0bn

9.1%

16.5%

Net	RoCET1	RoCET1
profit	capital	capital

13.9%

82.5%

72.8%

CET1 capital	Cost / income	Cost / income
ratio	ratio	ratio

1 Excluding items not representative of underlying performance; refer to slide 22 for details	3

Our clients turned to us as they searched for stability

Invested assets

GWM
	3.1trn	3.0trn
o/w:	1.4trn	1.3trn
FGA
	1Q22	1Q23

Invested assets

AM

1.2trn	1.1trn
1Q22	1Q23

Deposits
GWM + P&C
547bn	511bn
1Q22	1Q23

Loans
GWM + P&C
383bn	381bn
1Q22	1Q23

Global Markets revenues

IB

2.4bn
	2.0bn
1Q22	1Q23

+28bn NNM1,2

1Q23

+20bn	+14bn
Net new fee-	Net new money
generating assets	NNM in MM +18bn
	NNM excl. MM (4bn)

+31%(0bn)

NII, YoY, GWM + P&C	Net new loans,
Deposits (3%) QoQ	GWM + P&C

(17%)

Global Markets revenues, YoY

Balances as of quarter-end;1 Of which +7bn in the 10 business days following the announcement of the Credit Suisse acquisition; 2 Of which +9bn net deposit inflows into our platform and +19bn in net	4
investment inflows