#1UBS Full year and fourth quarter 2022 Financial results 31 January 2023 0 $//#2Important 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. 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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 4Q22 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. 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All rights reserved UBS 1#3Agenda Key messages Ralph Hamers, Group CEO UBS Financial performance Sarah Youngwood, Group CFO Q&A 2#4What differentiates us for our shareholders Leading and truly global wealth manager - The leading wealth manager in APAC¹, EMEA² and Switzerland², with over half of our 3trn invested assets in Americas and a strong foundation as Best Bank in Switzerland³ - Positioned to grow in the largest and fastest growing wealth markets - Capital-light investment banking and asset management capabilities in support of our core wealth and GFIW clients Disciplined risk and cost manager Carefully managed risk profile - Strong capital and liquidity position Disciplined approach to cost management and investments - - Strong returns and payouts Capital-light business model Strong return on capital Committed to distributing excess capital to shareholders UBS 1 Asian Private Banker FY21 league table, by AuM; 2 Best Bank for Wealth Management in Western Europe, Middle East and Switzerland, Euromoney, 2022; 3 Best Bank in Switzerland, Euromoney, 2022 3#5Key messages CCO ( ( UBS Strong momentum with our clients in challenging markets Executing on our strategy and achieved our Group targets in 2022 Positioned to fund growth and deliver strong capital returns in 2023 4Q22 1.7bn Net profit FY22 7.6bn Net profit 14.7% RoCET1 capital 17.0% RoCET1 capital 75.8% Cost / income ratio 72.1% Cost / income ratio 14.2% CET1 capital ratio 14.2% CET1 capital ratio 4#6Our momentum with clients is strong in challenging markets Invested assets GWM 3.3trn o/w: FGA 1.5trn FY21 4Q22 2.8trn 1.3trn FY22 FY22 +23bn +60bn Net new fee- generating assets Invested assets AM 1.2trn FY21 4Q22 1.1trn FY22 FY22 +11bn +25bn Net new money NNM excl. MM (6bn) in 4Q22 and (2bn) in FY22 Deposits GWM + P&C 548bn FY21 4Q22 529bn FY22 FY22 +29% +17% NII, YOY, GWM + P&C Net new deposits +9bn 4Q22 and (9bn) FY22 Loans GWM + P&C 387bn FY21 4Q22 380bn FY22 FY22 (2bn) +2bn Net new loans, GWM + P&C UBS Balances as of quarter-end; 1 FY21 includes USD 861m in losses related to the default of a prime brokerage client; FY22 flat YoY excl. FY21 losses Global Markets revenues IB 6.3bn¹ FY21 4Q22 7.1bn FY22 FY22 (11%) +13%¹ Global Markets revenues, YoY 5#7We are executing our strategy across the regions to drive growth and efficiency FY22 Americas PBT 2.0bn; C/1 86% GWM NII +35% YoY 10bn in net private market commitments in GWM >20% of Barron's 2022 Top 100 PWM teams 21bn NNM in AM from SMA 4Q22 4bn 1bn (2bn) FY22 17bn 9bn (21bn) NNFGA NN loans NN deposits Switzerland PBT 3.1bn; C/1 58% P&C C/1 57%, (4pp) YOY Strong net new client growth of 37k in P&C, +108% YoY Launch of fully digital key4 with strong brand recognition of 30%¹ Best Bank in Switzerland² 5bn 1bn 8bn 9bn NNFGA 7bn 9bn NN loans NN deposits EMEA PBT 2.3bn; C/I 67% GWM C/I 62% Best year on record³ for IB total revenue and PBT Completed sales of Spain WM and SFA businesses Best Bank for WM in Middle East and Western Europe² 11bn (Obn) 20bn (1bn) NNFGA NN loans (Obn) (6bn) NN deposits - - APAC PBT 1.9bn; C/1 67% #1 in APAC ECM in FY224 and best M&A year on record³ Best Investment Bank in Asia and Australia5 Launched WE.UBS, China's first digitally-led global WM platform Executed Japan real estate JV sale 3bn (4bn) 4bn 14bn (13bn) 8bn NNFGA NN loans NN deposits UBS Refer to page 32 for detail on regional accounting methodologies; 1 Survey among non-UBS retail banking clients with up to CHF 750k investable assets (100 participants per day), time period: 1.1.23- 22.1.23; 2 Euromoney, 2022; 3 2017-2022; 4 Dealogic; among non-domestic banks; 5 FinanceAsia, December 2022 6#8Making technology a differentiator UBS ~4bn technology P&L expense ~18,500 employees transitioned to Agile@UBS >600 decommissioned applications in FY22 ~200m technology gross cost savings by FY23, to be fully reinvested 68% technology team members that have transitioned to Agile@UBS are engineers, +13pp vs. pre-Agile 65% cloud ~60/40 split public vs. private cloud, respectively Launched UBS key4 Launched -O UBS CIRCLE ONE Launched 瑞富众 WE.UBS 7#9We maintain a strong balance sheet and disciplined risk management Strong capital and liquidity position Balance sheet for all seasons Disciplined risk management FY22 7.5bn capital generation¹ 164% liquidity coverage ratio² 95% of loans collateralized 14.2% CET1 capital ratio 5% p.a. standard interest rate for affordability calculation for Swiss real estate lending <55% average LTV on collateralized exposures 4.42% CET1 leverage ratio 99% of Swiss mortgage exposure remains covered even if property values decline by 30% 22% stage 3 coverage ratio on core loan book³ UBS 1 Includes 0.2bn increase in CET1 capital, 1.7bn dividend accruals and 5.6bn in share buybacks; 2 Average 4Q22; 3 Loans and advances to customers, Loans to financial advisors and related off-balance sheet items 8#10Committed to sustainable finance Selected 2022 achievements Planet 11% reduction achieved in scope 1&2 emissions YoY in FY22 Say on Climate advisory vote on climate roadmap at 2022 AGM Partnering with two pioneering companies on CO2 removal Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA Index member DJSI World and DJSI Europe People 28% vs. 30% 2025 target global female representation at senior levels (Director and above) Maintaining industry-leading ESG ratings 23% vs. 26% 2025 target ethnic minority representation at senior levels (Director and above) in the UK 20% vs. 26% 2025 target ethnic minority representation at senior levels (Director and above) in the US CDP BISCLOSURE INSIGHT ACTION A LIST 2022 CLIMATE Maintained position on CDP's Climate A-List UBS 1 Equal to 235bn at the time of commitment in 2021 al Partnerships Supporting clients USD 268bn invested assets in sustainability-focus and impact - — Expanded alternatives offering including energy storage, cold storage, and life sciences real estate capabilities Two new mortgage offerings with preferential interest rates to finance energy-efficient construction measures 36m of client donations to the Ukraine Relief Fund (56m total raised) MSCI ESG RATINGS CCC B BB AA A AA AAA Maintained AA rating by MSCI ESG Selected aspirations Net-Zero own operations (scope 1&2) by 2025 20%¹ of invested assets aligned to net-zero by 2030, AM 1bn philanthropy donations to reach 25m beneficiaries by 2025 400bn invested assets in sustainability-focus and impact by 2025 9#11Delivered on our ROCET1 and cost/income targets for the full year RoCET1 12.4% Cost/ income ratio 80.5% FY19 17.4% 73.3% FY20 17.5% 73.6% FY21 Target: 15-18% 17.0% Target: 70-73% 72.1% FY22 Key figures Group PBT Net profit Diluted EPS RoCET1 Cost / income GWM PBT growth NNFGA growth CET1 capital ratio CET1 leverage ratio Shares repurchased 4Q22 1,937m 1,653m 0.50 14.7% 75.8% 88% 1 7.9%³ 14.2% 4.42% 1.3bn FY22 9,604m 7,630m 2.25 17.0% 72.1% 4%² 4.1% 14.2% 4.42% 5.6bn Targets / guidance 15-18% UBS 1(13%) excl. USD 657m provision for French cross-border matter in 4Q21; 2 (8%) excl. USD 657m provision for French cross-border matter in 4Q21; 3 4Q22 NNFGA growth is annualized; 4 Over the cycle 70-73% 10-15%4 Ambition >5%4 ~13% >3.7% ~5.5bn, FY22 10#12Our financial targets remain unchanged; expecting >5bn of buybacks in 2023 Financial targets 15-18% Return on CET1 capital 70-73% cost / income ratio GWM PBT growth 10-15% over the cycle UBS Capital guidance ~13% >3.7% >5bn CET1 capital ratio CET1 leverage ratio share repurchases, FY23 Commercial selected aspirations >6trn >5% invested assets across GWM, AM, P&C NNFGA growth GWM, over the cycle 11#13Financial performance Sarah Youngwood, Group CFO UBS 12#14FY22 net profit USD 7.6bn; 17.0% ROCET1 Net profit m 7,457 (831) (2%) FY21 o/w FX: (904m) +2% (20%) underlying1 (178) 1,128 (4%) o/w FX: +755m o/w Litigation +563m 53 Total revenues Credit loss expense/release Operating expenses Tax expense and NCI UBS 1 Excluding items not representative of underlying performance; refer to slide 28 for details 7,630 FY22 FY22 9.6bn PBT, +1% YOY Underlying¹: (19%) YoY 72.1% cost / income ratio Underlying¹: 72.7% 14.2% CET1 capital ratio 17.0% ROCET1 Underlying¹: 16.1% 14.9% ROTE Underlying¹: 14.1% 4.42% CET1 leverage ratio 13#154Q22 net profit USD 1.7bn; 14.7% ROCET1 Net profit m 1,348 (676) (8%) o/w FX: (227m) 4Q21 +23% (36%) underlying¹ (34) 919 (13%) o/w FX: +202m o/w Litigation +777m 97 Total revenues Credit loss expense/release Operating expenses Tax expense and NCI UBS 1 Excluding items not representative of underlying performance; refer to slide 28 for details 1,653 4Q22 4Q22 1.9bn PBT, +12% YoY Underlying¹: (36%) YoY 75.8% cost / income ratio Underlying¹: 77.9% 14.2% CET1 capital ratio 14.7% ROCET1 Underlying¹: 12.8% 13.2% ROTE Underlying¹: 11.5% 4.42% CET1 leverage ratio 14