Additional Tier 1

Contingent Write-down

Following the occurrence of a Trigger Event or a Viability Event prior to the occurrence of a Conversion Capital Availability Event, a Contingent Write-down will occur and the full principal amount of the Notes will automatically and permanently be written-down to zero on the applicable Write-down Date. If a Trigger Event or a Viability Event occurs prior to the occurrence of a Conversion Capital Availability Event, then as of the relevant Write-down Date:

(i) the full principal amount of, and any accrued and unpaid interest (whether or not due and payable) on, each Note will automatically be written down to zero and the Notes will be cancelled;

(ii) the Holders will be automatically deemed to have irrevocably waived their right to receive, and will no longer have any rights against the Issuer with respect to repayment of the aggregate principal amount of, and payment of any accrued and unpaid interest on, the Notes written down as described in subclause (a) of Condition 8 (Contingent Write-down); and

(iii) all rights of any Holder for payment of any amounts under or in respect of the Notes (including, without limitation, any amounts arising as a result of, or due and payable upon the occurrence of, an Event of Default) will become null and void, irrespective of whether such amounts have become due and payable prior to the date of the relevant Trigger Event Notice or Viability Event Notice, as the case may be, or the Write-down Date.

Conversion Capital Availability Event

Will have occurred on the first date after the Issue Date on which an amendment to the Articles of Association of UBS Group AG is registered in the main register (Hauptregister) of the Commercial Register (Handelsregister) of the Canton of Zurich as a result of which the conversion capital (Wandlungskapital) provided for in the Articles of Association meets or exceeds the Minimum Conversion Capital Availability Amount. Please see Condition 9 (Conversion) of the Terms and Conditions of the Notes set out in the Preliminary Prospectus for further details, including the definition of Minimum Conversion Capital Availability Amount . Conversion

If no Trigger Event or Viability Event has occurred prior to the occurrence of a Conversion Capital Availability Event, then, following the occurrence of a Trigger Event or a Viability Event on or after the occurrence of a Conversion Capital Availability Event, a Conversion will occur and each Note will be redeemed on the applicable Conversion Date by the delivery of new fully paid Ordinary Shares to the Settlement Share Depository on behalf of the Holders and the cancellation of any accrued and unpaid interest on the Notes (whether or not due and payable), as more particularly described in Condition 9 (Conversion).

Conversion Price

Upon the occurrence of a Conversion Event, as at the date on which the relevant Trigger Event Conversion Notice or Viability Event Conversion Notice is published, each Holder shall be deemed to have accepted, and hereby accepts and agrees, to the conversion of its holding of Notes into Ordinary Shares at the Conversion Price in effect on the date of such Trigger Event Conversion Notice or Viability Event Conversion Notice, as the case may be, as described in Condition 9(c) (Conversion – Conversion Price and determination of number of Ordinary Shares).

The Conversion Price per Ordinary Share on the Issue Date will be SGD [TBD]*, which is equivalent to a price of CHF [TBD]* per Ordinary Share translated into Singapore dollars at an exchange rate of CHF 1.00 = SGD [TBD]* [(rounded to [TBD]* decimal places)]* and then rounded to two decimal places.