#1UBS Sustainability at UBS This document should be read in conjunction with the UBS Group AG Sustainability Report 2021 and Annual Report 2021 ubs.com/annual reporting 11 March 2022 ( O 1/1/1 Į 1/1/1 SX 1/1/1#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. 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. Alternative Performance Measures: In addition to reporting results in accordance with International Financial Reporting Standards (IFRS), UBS reports certain measures that may qualify as Alternative Performance Measures as defined in the SIX Exchange Directive on Alternative Performance Measures, under the guidelines published the European Securities Market Authority (ESMA), or defined as Non-GAAP financial measures in regulations promulgated by the US Securities and Exchange Commission (SEC). Please refer to "Alternative Performance Measures" in UBS's 2021 Annual Report for a list of all measures UBS uses that may qualify as APMs. Disclaimer: This presentation and the information contained herein are provided solely for information purposes, and are not to be construed as a solicitation of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating to securities of or relating to UBS Group AG, UBS AG or their affiliates should be made on the basis of this document. No representation or warranty is made or implied concerning, and UBS assumes no responsibility for, the accuracy, completeness, reliability or comparability of the information contained herein relating to third parties, which is based solely on publicly available information. UBS undertakes no obligation to update the information contained herein. Available Information: UBS's Annual Report, Quarterly Reports, SEC filings on Form 20-F and Form 6-K, as well as investor presentations and other financial information are available at www.ubs.com/investors. UBS's 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 are also available at the SEC's website: www.sec.gov Basel III RWA, LRD and capital: Basel III numbers are based on the BIS Basel III framework, as applicable for Swiss Systemically relevant banks (SRB). Numbers in the presentation are based on the revised Swiss SRB rules as of 1.1.20 that became effective on 1.7.16, unless otherwise stated. Basel III risk-weighted assets in this presentation are calculated on the basis of Swiss SRB rules as of 1.1.20 unless otherwise stated. Our RWA under BIS Basel III are the same as under Swiss SRB Basel III. 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 2021 Annual 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. Rounding: Numbers presented throughout this news release may not add up precisely to the totals provided in the tables and text. Percentages and percent changes are calculated on the basis of unrounded figures. Information about absolute changes between reporting periods, which is provided in text and which can be derived from figures displayed in the tables, is calculated on a rounded basis. Tables: Within tables, blank fields generally indicate that the field is not applicable or not meaningful, or that information is not available as of the relevant date or for the relevant period. Zero values generally indicate that the respective figure is zero on an actual or rounded basis. Percentage changes are presented as a mathematical calculation of the change between periods. OUBS 2022. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved UBS 1#3A firm driven by purpose Reimagining It is about proactively finding ways to fundamentally change how the world looks at finance and investing UBS The power of investing We know finance has a powerful influence on the world. We believe it is something we can leverage as a positive force - for individuals, for society and for our planet Reimagining the power of investing. Connecting people for a better world. Connecting people It is about more than just us. It is about convening a global ecosystem that connects people and businesses to ideas, partners, opportunities - so they can achieve more together For a better world It is about contributing, in both the short and long term, to a fairer society, a more prosperous economy and a healthier environment What purpose means for our stakeholders For clients, both existing and potential, it means that our Focus is clear. They know who we are. They know what we stand for. They know what is important to us beyond traditional financing. And they know our promise: to deliver products and services that are personalized, relevant, on-time and seamless. For investors, it means there is clarity behind our decisions. All initiatives are aligned with our purpose and executed with discipline. For employees, it means that everyone - from those who advise clients, to those who research investments, to those who mange technology platforms - knows why we do what we do, and how they can contribute to our purpose and use it to drive decision making. For society, it means that our role is broader than finance. We act responsibly and are committed to our communities, to sustainability and to supporting the world in tackling its biggest challenges. 2#4UBS Sustainability and Impact Strategy Our sustainability commitment Planet: Taking climate action and supporting the transition to a net zero world Offsetting historical emissions back to the year 2000 Be the financial provider of choice for clients who wish to mobilize capital toward the achievement of the 17 UN Sustainable Development Goals and the orderly transition to a low-carbon economy 235bn of Asset Management AuM aligned to Net zero by 2030 Net zero energy emissions across ΙππΓΡ our own operations by 2025 ONet zero across all aspects of our business by 2050, including investments and financing UBS People: Shaping a diverse, equitable and inclusive society. Addressing inequality through our focus on health and education + Main contributor to largest dedicated impact investment fund in biotech history¹ 25 million philanthropy beneficiaries by 2025 1 UBS wealth management clients make up roughly 75% of MPM Capital's Oncology Impact Fund 2 as of 6.10.21 DEVELOPMENT GOALS Partnerships: Working with thought leaders, entrepreneurs and clients to achieve impact on a truly global scale X Working with entrepreneurs tackling the world's biggest challenges through the Global Visionaries network Through Banking for Impact, working with peers to develop a measurement framework to measure social and environmental impact Working with clients to identify new ways forward, optimizing innovation and technological progress. 3#5External ESG ratings Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA Index member of DJSI World and DJSI Europe Ranked 3rd out of 174 Diversified Financial Services and Capital Markets companies Link UBS CDP DISCLOSURE INSIGHT ACTION A LIST 2021 CLIMATE One of only 200 companies on the CDP Climate A-List - out of nearly 12'000 companies ranked Link MSCI ESG RATINGS AA CCC B BB BBB A AA AAA Top 3 among primary peer group Link SUSTAINALYTICS ESG Risk rating of 22.2 (Medium risk) Link S&P Global Ratings ESG evaluation of 77/100 (Solicited rating) Environmental profile: 70/100 Social profile: 66/100 Governance profile: 77/100 Preparedness: Strong (+5) Link 4#6UBS sustainability and climate governance. UBS External audit Internal audit BoD Risk Committee Group Chief Risk Officer Chief Risk Officer for Sustainability Climate Risk Program Global Wealth Management Personal & Corporate Banking Board of Directors (BOD) Group Executive Board (GEB) BOD Corporate Culture & Responsibility Committee Group Chief Sustainability Officer Net-zero task force GEB lead for sustainability and impact Sustainable Finance Group Asset Management Investment Bank Head Social Impact Sustainability Advisory Group Group Functions сл#7Targeting 400bn in sustainable investments by 2025 Increased invested assets in sustainable investments by 78% to USD 251 billion Group invested assets USDbn 3,262 3,090 Sustainable investments: 16bn (0.5%) 93 63 13 31.12.17 Sustainable investments: 25bn (0.8%) 3,101 2,802 50 225 20 5 31.12.18 3,607 UBS Refer to slide 30 for key terms and definitions 3,127 Sustainable investments: 372 56bn (1.5%) 52 46 9 31.12.19 Sustainable investments: 141bn (3.4%) 4,187 3,401 132 513 128 13 31.12.20 Sustainable investments: 251bn (5.5%) 4,596 3,532 255 558 29 223 31.12.21 Other Exclusion ESG integration 2021 YoY +93% +9% Impact investing Sustainability focus Sustainable investments +78% +117% +74% 2025 ambition: 400bn 2017-2021 CAGR +29% +72% +79% +104% +100% 01 6#8Sustainable finance approach and offering Investment approaches UBS's definition of sustainable investments Sustainability focus Target market-rate investment returns Have explicit sustainable intentions or objectives that drive the strategy Underlying investments may contribute to positive sustainability outcomes through products, services and / or proceeds Impact investing Target market-rate investment returns Have explicit intentions to generate measurable, verifiable, positive sustainability outcomes Impact attributable to investor action and / or contribution Expanding offering for clients in 2021 Over USD 30bn invested in discretionary offerings aligned to our SI Strategic Asset Allocation USD 11.6bn directed to SDG-related impact investments, above our commitment of USD 5bn GWM clients invested USD 650m (over 75% of the fund) in MPM Capital's Oncology Impact Fund 2, an impact investing initiative aimed at developing innovative treatments for cancer Supported clients in 103 green, social, sustainability or sustainability-linked bond transactions Expanded Vitainvest Sustainable offering with launch of passive fund range UBS AM's Climate Aware strategies reached USD 23.4bn UBS Manage SI represented almost 70% of Personal Banking's mandate sales Sustainable investments make up 47% of total custody assets in Personal Banking after repositioning funds into UBS Strategy Funds Sustainable and incorporating sustainability throughout the entire investment process Partnered with Robeco to develop and launch its Engagement Equities Fund focused on UN's SDGs Launched UBS Collectives - a philanthropy initiative to help clients address critical global issues UBS 1 Sustainability focus and Impact investing; sustainability focus is strategies where sustainability is an explicit part of the investment guidelines, universe, selection, and/or investment process; Impact investing is strategies where the intention is to generate measurable environmental and social impact alongside financial return 7#9Planet – our targets and progress in 2021 Our priorities Planet UBS Our targets Set decarbonization targets for 2030 for financing of the fossil fuels, power generation and real estate sectors (from 2020 levels): reduce absolute financed emissions associated with UBS loans to fossil fuel companies by 71%; reduce emissions intensity associated with UBS loans to power generation companies by 49%; reduce emissions intensity of UBS's commercial real estate lending portfolio by 44%; and reduce emissions intensity of UBS's residential real estate lending portfolio by 42%. Align USD 235 billion of invested assets to net zero by 2030 (Asset Management). Achieve net-zero emissions across discretionary client portfolios by 2050. Achieve net-zero energy emissions resulting from our own operations (scopes 1 and 2) by 2025; cut energy consumption by 15% by 2025 (compared with 2020). Offset historical emissions back to the year 2000 by sourcing carbon offsets (by end 2021) and offsetting credit delivery and full retirement in registry (by end 2025). Engage with key vendors on targeting net zero by 2035. Our progress in 2021 Estimated baselines and development of net-zero- aligned pathways for the fossil fuel, power generation and real estate (commercial and residential) sectors. Established Asset Management baseline covering the weighted average carbon intensity of the respective benchmark for each strategy and fund included in our target. Expanded discretionary offering with climate transition-focused solutions and built more detailed carbon footprint data into our research and reporting toolkits. Reduced net greenhouse gas footprint for scope 1 and 2 emissions by 75% and energy consumption by 5% (compared with 2020); continued implementation of the replacement of fossil fuel heating systems and investing in credible carbon removal projects; maintained 100% renewable electricity coverage. Completed the sourcing process for a portfolio of transparent carbon offsets from the voluntary carbon market across a range of project types and geographies. Commenced working on understanding and quantifying the scope 3 emissions in our supply chain. 8#10Climate Strategy Managing climate-related financial risks Protecting our clients' assets Managing climate-related risks and opportunities through our innovative products and services in investment, financing and research Protecting our own assets Limiting risk appetite for carbon-related assets and estimating our own firm's vulnerability to climate risks Acting on low carbon future Reducing our climate impact Driving the reduction of our direct and indirect GHG emissions Mobilizing capital From private and institutional clients toward the orderly transition to a low-carbon economy a 46 Companies in high carbon intensity sectors participating in climate engagement program 9.9%¹ Exposure to carbon-related assets as % of total customer lending exposure, from 10.4% on 31.12.20 Net zero Scope 1, 2 and 3 greenhouse gas emissions by 2050 98 Number of green, sustainability, and sustainability-linked bond deals UBS will put its climate roadmap to an advisory shareholder vote during its 2022 AGM reflecting its commitment to shareholders having their say on our firm's climate (including net-zero) strategy. UBS Refer to the Sustainability Report 2021 for detailed TCFD-aligned climate disclosures 1 Based on latest TCFD guidance encompassing additional sectors since 2020; prior years' data was restated 9#11Climate risk heatmap - transition risks 459,061 Total exposure 211,769 Non-sensitive¹ 265 High 4,741 Moderately high 32,503 Moderate 17,593 Moderately low 192,189 Low Chemicals2 2,821 Refer to slide 25 for a sector distribution of High, Moderately High, and Moderate transition risk exposures High 265 Coal 233 Shale gas 24 Oil refining 8 Moderately high 4,741 Transportation and storage (oil) 853 Car manufacturing (high-carbon) 644 Land-based shipping 500 Medium-carbon power generation (regulated) 249 | Sea-based shipping 160 Steel / iron manufacturing 76 Livestock - beef, extensive grazing 15 Conventional gas drilling 4 Transportations and storage (gas) 3 UBS Numbers in USDm unless otherwise indicated; refer to the Sustainability Report 2021 for further information 1 Non-sensitive is mostly composed of private Lombard lending; 2 Includes pharmaceuticals Integrated oil and gas companies 404 Cement or concrete manufacturing 312 Conventional oil drilling 233 Moderate 32,503 High-carbon power generation (regulated) 118 Commercial real estate management 18,029 Downstream oil and gas distribution 4,430 Construction - non-infrastructure 3,206 Mining conglomerates 2,687 Manufacturing of other metals 917 Consumer durables manufacturing 873 Airlines commercial 708 10#12Climate risk heatmap - physical risks 459,061 Total exposure 78 High 6,100 Moderately high 19,297 Moderate 185,770 Non-sensitive¹ 55,421 Moderately low 192,395 Low Refer to slide 26 for a sector distribution of High, Moderately High, and Moderate physical risk exposures Switzerland 215,560 Moderately low O East Asia and the Pacific 33,773 Low North America 107,940 Low Middle East and North Africa 11,511 Low Europe and Central Asia 49,757 Low Sub-Saharan Africa 1,332 Low UBS Numbers in USDm unless otherwise indicated; refer to the Sustainability Report 2021 for further information 1 Non-sensitive is mostly composed of private Lombard lending Latin America and the Caribbean 38,502 Low South Asia 687 Moderately low 11#13Climate roadmap Commitment to net zero by 2050 and founding member of the Net-Zero Banking Alliance (NZBA) and the Glasgow Financial Alliance for Net Zero (GFANZ) 2020 Founding member of Net Zero Asset Managers initiative UBS 1 Relative to 2020 levels 2021 Addressing our own emissions > > > Addressing the emissions of our business activities > Reduce absolute financed emissions associated with UBS loans to fossil fuel companies by 71% ¹ > Reduce emissions intensity associated with UBS loans to power generation companies by 49%¹ Reduce emissions intensity of UBS's commercial real estate lending portfolio by 44%¹ > > Reduce emissions intensity of UBS's residential real estate lending portfolio by 42%¹ by 2025 by 2030 Achieve net zero scope 1 and 2 emissions Reduce our own energy consumption by 15% from 2020 levels Offset historical emissions from own operations back to 2000 by 2035 Addressing our supply chain Aim for net-zero GHG emissions by our key vendors Net-zero across all of our activities (scope 1, 2, 3) by 2050 12#14Our plan for addressing emissions in our lending book Emissions associated with financing of fossil fuels, power generation and real estate (commercial and residential) and targets we have set for 2030 Power generation financing Residential real estate lending Fossil fuel financing kt CO₂e (base: 100) 100 80 60 40 20 0 2020 -71% 2025 2030 Fossil fuels 2035 IEA Net Zero Emissions by 2050 Roadmap, World - Fossil Fuels UBS Power generation Residential real estate 2040 Commercial real estate 2045 2050 Lending volume 2020 USD 1.2 billion USD 0.9 billion USD 151.1 billion USD 43.7 billion kg CO,e/MWh 600 500 400 300 200 100 0 2020 -49% 2025 2030 Lending volume 2021 IEA Net Zero Emissions by 2050 Roadmap, World Power Generation. UBS USD 0.7 billion USD 1.2 billion USD 155.9 billion 2035 USD 44.7 billion 2040 2045 2050 Emissions baseline 2020 3,781 kt CO2e 238 kg CO2e/MWh 30 kg CO2e/m2 32 kg CO2e/m2 kg CO₂e / m² 40 35 30 25 20 15 10 5 0 2020 42% 2025 2030 2035 2040 IEA Net Zero Emissions by 2050 Roadmap, World Residential Real Estate UBS Emissions target 2030 versus baseline 2020 (71%) (49%) (42%) (44%) 2045 Notes 2050 Commercial real estate lending kg CO₂e/m² 80 70 60 50 40 30 20 10 0 2020 -44% 2025 2030 2035 2040 IEA Net Zero Emissions by 2050 Roadmap, World Commercial Real Estate UBS 2045 2050 Reduction of absolute emissions (scopes 1, 2 and 3) Reduction of emissions intensity (scopes 1, 2 and 3) Reduction of emissions intensity (scopes 1 and 2) Reduction of emissions intensity (scopes 1 and 2) UBS These priority sectors represent both a substantial share of UBS's loan book and our overall financed emissions. UBS is committed to net zero and is setting ambitious targets for each of the sectors above. At the same time, meeting the ambition of the Paris Agreement with a 1.5°C limit in global warming will require regulatory frameworks that support the transition to a low-carbon economy. As the world drives toward a low-carbon future, we will adjust our ambition where warranted in response to new regulatory and technological developments. 13#15Progress on our direct environmental footprint GHG footprint (scope 1 and 2) Kilotonnes CO₂e 132 59% 104 Renewable electricity sourcing FY18 72% 75 FY19 85% FY20 30 100% FY21 Environmental performance and 2025 targets Energy reduction¹ Peo 2021 2025 target Waste reduction¹ 2021 2025 target UBS 1 All reduction targets relate to 2020 baseline; 2 Per full-time employee; 3 Due to the impact of COVID-19 -> -5% > -15% > 2,3 -31% -10%² 2 Paper from sustainable sources 2021 2025 target Water reduction¹ 2021 2025 target 80% > 100% > -23%² > -5% 14#16People - our targets and progress in 2021 Our priorities People UBS Our targets 30% global female representation at Director level and above by 2025. 26% US ethnic minority representation at Director level and above by 2025. 26% UK ethnic minority representation at Director level and above by 2025. Raise USD 1 billion in donations to our client philanthropy foundations and funds and reach 25 million beneficiaries by 2025 (cumulative for years 2021-2025). Support one million beneficiaries through our community impact activities by 2025 (cumulative for years 2020-2024). Our progress in 2021 Increased to 26.7% (2020: 26.0%) female representation at Director level and above. Increased to 20.1% (2020: 19.5%) ethnic minority representation at Director level and above in the US. Increased to 21.3% (2020: 20.7%) ethnic minority representation at Director level and above in the UK. Achieved UBS Optimus Foundation donations volume of USD 161 million (including UBS matching contributions) and reached 4.6 million beneficiaries. Reached 1.199 million beneficiaries through strategic community impact activities cumulatively during 2020 and 2021, surpassing our 2025 target in two years. 15