UBS Group AG Concludes 2022 Share Repurchase Program, Announces 2024 Program

UBS Group AG Concludes 2022 Share Repurchase Program, Announces 2024 Program

(IN BRIEF) UBS Group AG has successfully completed its 2022 share repurchase program, repurchasing 298,537,950 shares via a separate trading line on the SIX Swiss Exchange, totaling CHF 5,009,665,264 (USD 5,244,697,247). A portion of the repurchased shares, approved by the Swiss Takeover Board, was intended for the acquisition of Credit Suisse Group. Following this, UBS plans to initiate a new 2024 share repurchase program of up to USD 2 billion, aiming to surpass pre-acquisition levels by 2026. The announcement comes amidst preparations for the merger of UBS AG and Credit Suisse AG, expected to conclude by the end of the second quarter of 2024.

(PRESS RELEASE) ZURICH, 2-Apr-2024 — /EuropaWire/ — In total, 298,537,950 UBS Group AG shares were repurchased via a separate trading line on the SIX Swiss Exchange as part of the 2022 share repurchase program, launched on 31 March 2022, representing 8.62% of the current registered share capital of UBS Group AG. The total repurchase volume amounted to CHF 5,009,665,264 (USD 5,244,697,247), of which CHF 1,181,782,165 in 2023 prior to the announcement of the acquisition of Credit Suisse. On 12 April 2023, the Swiss Takeover Board had approved the use of up to 178,031,942 shares repurchased under the 2022 program, and originally intended for cancellation, for the acquisition of the Credit Suisse Group.

On 3 April 2024, we intend to commence a new 2024 share repurchase program of up to USD 2bn. As previously communicated, in 2024 we expect to repurchase up to USD 1bn of our shares, commencing after the completion of the merger of UBS AG and Credit Suisse AG which is expected to occur by the end of the second quarter. Our ambition is for share repurchases to exceed our pre-acquisition level by 2026.

Further information on both the concluded and the new share repurchase programs is available at the following webpage: https://www.ubs.com/global/en/investor-relations/investors/shareholder-information/share-repurchase-program.html

UBS Group AG

Notice to investors
This document and the information contained herein is provided solely for information purposes, and is 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. For additional information, refer to the documents furnished by or filed with the United States Securities and Exchange Commission, including the Form 20-F for the year ended 31 December 2023. These reports are available at www.ubs.com/investors.

Cautionary statement regarding forward-looking statements
This document contains statements that may constitute forward-looking statements. While these statements represent UBS’s judgments and expectations 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. Additional information about those factors is set forth in documents furnished and filings made by UBS with the US Securities and Exchange Commission, including the Annual Report on Form 20-F for the year ended 31 December 2023. UBS undertakes no obligation to update the information contained herein.

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SOURCE: UBS