UBS AG LONDON BRANCH - Listing of UBS Actively Managed Certificate linked to the AnBro Heritage Portfolio

Listing of UBS Actively Managed Certificate linked to the AnBro Heritage 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 AnBro Heritage
Portfolio

The JSE Limited has granted UBS AG approval for the listing of UBS Portfolio
Notes linked to the AnBro Heritage 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:

AnBro Capital Investments (Pty) Ltd ("AnBro Capital") is a boutique South
African asset management business which aims to use its investment knowledge
and experience to assist a select number of institutions, independent
financial advisors (IFAs) and ultra high net worth (UHNW) individuals manage
the long-term portion of their assets committed to equities in their overall
allocation model. More information about AnBro Capital can be found at
https://www.anbro.co. AnBro Capital is regulated by the Financial Services
Conduct Authority with licence number 48371.

The AnBro Heritage Portfolio employs an opportunistic tactical strategy
designed to capture alpha through short-term market dislocations and high-
velocity momentum trends. By identifying 'event-driven' inefficiencies—such
as irrational sell-offs in high-quality equities following earnings—the
strategy leverages mean reversion to capitalize on price-value gaps. This is
complemented by a disciplined trend-following overlay in commodities and
liquid assets, ensuring the portfolio remains agile and responsive to
shifting market sentiment. Ultimately, the goal is to exploit behavioural
overcorrections and maximize returns through precise, catalyst-driven
entries and exits.

Investment universe:

UNDERLYING STOCK UNIVERSE:     Developed Market (as defined in the most
                               recent MSCI Global Investable Market Indexes
                               Methodology) worldwide stocks; and may also
                               include stocks which are American Depository
                               Receipts   (ADRs)   and  Global   Depository
                               Receipts (GDRs). Shares listed on the Main
                               Board of the Johannesburg Stock Exchange may
                               also be incorporated.

UNDERLYING ETF UNIVERSE:       ETFs that are physically replicated, exposed
                               to Developed Market (as defined in the most
                               recent MSCI Global Investable Market Indexes
                               Methodology) worldwide stocks or benchmark
                               indices as well as ETFs listed on the Main
                               Board of the Johannesburg Stock Exchange may
                               be incorporated as ETF Constituents.

UNDERLYING FX CONSTITUENTS     Only FX Forwards exposed to G10 currencies
                               and   ZAR  may   be   incorporated   as  FX
                               Constituents in the Reference Portfolio.
UNDERLYING CURRENCY ACCOUNT    USD, EUR, and GBP synthetic cash.


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 59) is issued under the Information Memorandum of UBS
AG. Trading will commence on Friday, 13 March 2026.

INSTRUMENT NUMBER:          125795
ALPHA CODE:                 HERTGE
ISIN:                       ZAE000358230
ISSUE SIZE (UNITS):         1,000,000
ISSUE PRICE (RAND/UNIT):    100.00

LISTING DATE:               13 March 2026
EXPIRY DATE:                08 March 2033

SECTOR:                     Specialist Securities
SUB-SECTOR:                 Actively Managed Certificates

FOREIGN STATUS:             The Notes are classified as Foreign 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 / 7000
E-mail: keyinvestza@ubs.com
Web: http://keyinvest-za.ubs.com/AMC

Johannesburg
12 March 2026

Sponsor: UBS South Africa (Pty) Limited

Date: 12-03-2026 04:00:00
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