UBS AG: Christian Bluhm to Continue as Group Chief Risk Officer

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Ad hoc announcement pursuant to article 53 of the SIX Exchange Regulation Listing Rules

Due to the planned acquisition of Credit Suisse, Christian Bluhm has agreed to remain in his role as Group Chief Risk Officer and member of the Group Executive Board for the foreseeable future, therefore delaying the handover to Damian Vogel that was originally planned for 1 May.

Damian Vogel has been appointed to the newly created role of Group Risk Control Head of Integration. In this role, he will lead risk control related integration activities and define the best possible set-up for the firm's combined Group Risk Control function.

Group Chief Executive Officer Sergio P. Ermotti: "Having both senior risk leaders actively engaged will help ensure that we're well prepared and appropriately set up in an area that is crucial for our future success. I want to thank Christian for his readiness to continue in his role as Group CRO and Damian for his significant efforts in leading our integration efforts and designing our future risk function."

Cautionary Statement Regarding Forward-Looking Statements

This media release 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. For a discussion of the risks and uncertainties that may affect UBS's future results please refer to the "Risk Factors" and other sections of UBS's most recent Annual Report on Form 20-F, quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission on Form 6-K, and the cautionary statement on the last page of this presentation. 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.

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April 24, 2023 02:00 ET (06:00 GMT)