UBS AG LONDON BRANCH - Listing of UBS Actively Managed Certificate linked to the Boutique Hummingbird Portfolio

Listing of UBS Actively Managed Certificate linked to the Boutique Hummingbird Portfolio

UBS AG, London Branch
("UBS AG" or the "Company")
(Incorporated and domiciled in Switzerland)
(Registration number: CHE-101.329.561)

Listing of UBS Actively Managed Certificate linked to the Boutique
Hummingbird Portfolio

The JSE Limited has granted UBS AG approval for the listing of UBS Portfolio
Notes linked to the Boutique Hummingbird Portfolio (the "Reference
Portfolio").

The Reference Portfolio, whose composition may vary from time to time, is
actively managed by the Reference Portfolio Advisor and represents a notional
investment in the Reference Portfolio Components as described in detail
below.

Background:

Boutique Asset Management (Pty) Ltd is a Johannesburg-based investment and
wealth management firm, offering tailored portfolio construction and
management services. The company specialises in managing client funds by
delivering comprehensive, personalised investment solutions. With a focus on
risk management and precision execution, Boutique Asset Management develops
customised strategies designed to meet individual client needs and achieve
superior investment outcomes. "Boutique Asset Management" is regulated by
the Financial Sector Conduct Authority with license number 53523.

The investment strategy seeks to achieve capital growth over the long term
while managing risk through a disciplined process. The portfolio is made up
of investments in underlying assets that are considered deeply undervalued
and poised for a significant rerating in value. The approach targets
exceptional compounded returns that outpace the broad equity market while
emphasising risk management through strategic diversification across
sectors, industries, and companies. The portfolio is managed through a
concentrated, high conviction, pure-equity strategy with an objective to
always remain fully invested, offering exposure to the South African stock
market. The strategy focuses on mid- and small-sized companies that are
established and profitable but meaningfully mispriced; large-cap stocks can
be included in the portfolio in instances where substantial investment return
is offered. Performance is benchmarked against the FTSE/JSE Africa All Share
Index.


Investment universe:

UNDERLYING STOCK UNIVERSE:     Shares listed on the Main Board of the
                               Johannesburg Stock Exchange.

UNDERLYING ETF UNIVERSE:       ETFs listed on the Main Board of the
                               Johannesburg Stock Exchange.


Other:

Noteholders should be aware that the Reference Portfolio Advisor is
independent of the Issuer. The performance of the Product is largely
dependent on the skill and decisions made by the Reference Portfolio Advisor.
Decisions made by the Reference Portfolio Advisor may not always be
profitable and therefore may have a material adverse impact on the value of
this Product. Moreover, past performance of other products managed by the
Reference Portfolio Advisor does not guarantee future positive performance
of this Product.

Listing information:

This listing (Series 43) is issued under the Information Memorandum of UBS
AG. Trading will commence on Wednesday, 20 November 2024.

INSTRUMENT NUMBER:         118744
ALPHA CODE:                BAMHUM
ISIN:                      ZAE000341624
ISSUE SIZE (UNITS):        1,000,000
ISSUE PRICE (RAND/UNIT):   100.00

LISTING DATE:              20 November 2024
EXPIRY DATE:               18 November 2031

SECTOR:                    Specialist Securities
SUB-SECTOR:                Actively Managed Certificates

FOREIGN STATUS:            The Notes are classified as Domestic for purposes
                           of the South African Reserve Bank Exchange
                           Control Regulations.

For further information kindly contact:
UBS KeyInvest South Africa
Tel.: +27 11 322 7129 / 7317
E-mail: keyinvestza@ubs.com
Web: http://keyinvest-za.ubs.com/AMC

Johannesburg
19 November 2024

Sponsor: UBS South Africa (Pty) Limited

Date: 19-11-2024 02:30:00
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