REG-UBS AG Changes to the UBS Board of Directors

UBS AGAnnouncement

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Changes to the UBS Board of Directors


 * Lukas Gähwiler decides to retire after 45-year career in financial services;
will not stand for re-election to UBS Group AG Board of Directors

 * Markus Ronner will be nominated as Vice Chairman of UBS Group AG Board of
Directors

 

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

Lukas Gähwiler will not stand for re-election to the UBS Group AG (NYSE:UBS)
(SWX:UBSN) Board of Directors at the Annual General Meeting (AGM) in April
2026. After an exceptionally successful career spanning 45 years, he decided
to retire from his role as Vice Chairman of the Board of Directors, concluding
his long career in banking.

Lukas Gähwiler has served UBS in several leadership roles: from 2010 to 2016
as member of the Group Executive Board of UBS Group AG and President of UBS in
Switzerland, followed by his tenure as Chairman of UBS Switzerland AG. In 2022
he was appointed as Vice Chairman of the UBS Group AG Board of Directors. In
addition to his board responsibilities, he represented UBS in Switzerland’s
most important trade associations and financial industry organizations. As the
final Chairman of Credit Suisse AG, he played a pivotal role in the successful
integration of Credit Suisse into UBS.

Colm Kelleher said: “It is with great appreciation and deep regret that I
had to accept the resignation of Lukas. On behalf of all of UBS, our clients
and external partners, I want to thank him for his tremendous contributions
and unwavering commitment to UBS. Lukas is one of the most respected bankers
in Switzerland and has been a key driving force behind the success of UBS,
particularly in Switzerland. He was instrumental in preparing and executing
the Credit Suisse transaction, and served as the final Chairman of Credit
Suisse AG during an exceptionally demanding transition. Personally, Lukas has
been my closest partner since I joined UBS. His expertise, social skills,
integrity and work ethics set him apart. He will be greatly missed, and I wish
him only the very best for his new endeavors.”

Sergio P. Ermotti said: “Lukas has been a trusted partner throughout my
entire career at UBS. As President and later Chairman of UBS in Switzerland,
he fundamentally repositioned and strengthened UBS in Switzerland,
significantly contributing to the Group’s success. Over the past nearly
three years, it has been a privilege to work closely with him on the
successful integration of Credit Suisse. While I will miss him and his
invaluable contributions, I fully understand his decision to end his
outstanding career in banking and embrace new priorities.”

Markus Ronner is proposed to succeed Lukas Gähwiler and will be nominated as
new member of the Board of Directors and Vice Chairman at the AGM 2026. Markus
Ronner is a Swiss citizen and has been with UBS his entire professional career
since 1981. Over the last 25 years, he has held several global leadership
roles in business, control and audit functions. Markus Ronner became a member
of the Group Executive Board in 2018, when he took over his current role as
the Group Chief Compliance and Governance Officer, overseeing compliance,
financial crime prevention and operational risk control as well as regulatory
and governance functions at the Group level. From 2022 to 2023 Markus Ronner
also served as the chairman of UBS Switzerland AG. He is a recognized expert
in regulation, risk control and governance and well respected by Swiss and
international authorities.

Colm Kelleher said: “I congratulate Markus on his nomination. His extensive
and unique experience in financial services will provide the Board with
valuable insights. In his role as Vice Chairman, he will represent UBS across
several key industry bodies. I am looking forward to working closely with him
upon his election.”

Sergio P. Ermotti said: “Markus’s foundational work over the past 15 years
helped shape the firm’s legal structure and governance. Since joining the
Group Executive Board in 2018 as Group Chief Compliance and Governance
Officer, Markus has navigated through a demanding non-financial risk
environment, based on industry-leading compliance, financial crime prevention
and operational risk management standards and established a robust
resolvability framework for UBS. I thank Markus for his outstanding
contributions and look forward to continuing to work with him in his new
role.”

The succession of Markus Ronner will be communicated separately.

Investor contact

Switzerland: +41-44-234 41 00

Media contact

Switzerland: +41-44-234 85 00

UK: +44-207-567 47 14

Americas: +1-212-882 58 58

APAC: +852-297-1 82 00

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