UBS Results Presentation Deck

Executing our cost strategy Operating expenses bn Cost/income ratio³ 18.1 9M20 72.7% 0.0 Costs excluding variable and FA compensation, litigation, restructuring and FX 0.5 Variable and FA compensation¹ 0.1 Litigation and restructuring² (1.3ppts) 0.4 FX 19.1 9M21 71.4% UBS 13020 includes 359m from the acceleration of expenses in relation to outstanding deferred compensation awards; 2 9M20 includes net restructuring costs of 107m and litigation expenses of 49m; 9M21 includes net restructuring costs of 156m, of which 66m in 3Q21, and litigation expenses of 84m, of which 12m in 3Q21; 3 Defined as operating expenses divided by income, which is operating income excluding credit loss expenses / releases 15

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