UBS Results Presentation Deck

Executing our cost strategy Operating expenses bn Cost/income ratio² 11.7 1H20 74.0% 0.1 Costs excluding variable and FA compensation, litigation, restructuring and FX 0.6 Variable and FA compensation 0.0 Litigation and restructuring¹ (1.2) ppts 0.4 FX 12.8 1H21 72.8% UBS 11H20 includes net restructuring costs of 107m and litigation expenses of 8m; 1H21 includes net restructuring costs of 90m (149m restructuring costs partly offset by 59m curtailment gains) and litigation expenses of 72m; 2 Defined as operating expenses divided by income, which excludes credit loss expenses / releases 9

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