• Combined entity now operates as consolidated banking group
• Today marks last trading day of Credit Suisse shares on SIX Swiss Exchange
• Shareholders to receive 1 UBS share for every 22.48 Credit Suisse shares
• Board of Directors nominations announced for certain Credit Suisse entities, including Credit Suisse AG
• UBS expects its CET1 capital ratio throughout 2023 to be around 14%

Today marks the last trading day of Credit Suisse Group AG shares on the SIX Swiss Exchange. Credit Suisse Group AG ADS will no longer be traded on the New York Stock Exchange. As announced on 19 March 2023, Credit Suisse shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held.

As previously announced, UBS will operate the following governance model pending further integration:
• UBS Group AG will manage two separate parent banks – UBS AG and Credit Suisse AG. Each institution will continue to have its own subsidiaries and branches, serve its clients and deal with counterparties.
• The Board of Directors and Group Executive Board of UBS Group AG will hold overall responsibility for the consolidated group.

Upon completion of the acquisition, UBS announced appointments to the boards of directors of several Credit Suisse entities. Subject to regulatory approval, Credit Suisse AG’s Board of Directors will include Lukas Gähwiler (Chairman), Jeremy Anderson (Vice President), Christian Gellerstad (Vice President), Michelle Bereaux, Mirko Bianchi (until 30th). June 2023), Clare Brady, Mark Hughes, Amanda Norton and Stefan Seiler.

“I‘m pleased that we’ve successfully closed this crucial transaction in less than three months, bringing together two global systemically important banks for the first time. We are now one Swiss global firm and, together, we are stronger. As we start to operate the consolidated banking group, we’ll continue to be guided by the best interests of all our stakeholders, including investors. Our top priority remains the same: to serve our clients with excellence.”

Colm Kelleher, UBS Group AG Chairman.

“Today we welcome our new colleagues from Credit Suisse to UBS. Instead of competing, we’ll now unite as we embark on the next chapter of our joint journey. Together, we’ll present our clients an enhanced global offering, broader geographic reach and access to even greater expertise. We’ll create a bank that our clients, employees, investors and Switzerland can be proud of.”

Sergio P. Ermotti, CEO of UBS Group AG.

UBS expects its CET1 capital ratio to be around 14% in Q2 2023 and to stay around this level through 2023. UBS expects Credit’s significant restructuring and operating losses Suisse will be offset by a reduction in RWA.

In the future, UBS will present the consolidated financial results of the combined group under IFRS in USD. Results for Q2 2023 will be announced on August 31, 2023.

The summary presentation of the pro forma financial information contained in the F-4 registration statement has been updated to reflect the most recent and definitive revision to the registration statement.