Zurich, 28 March 2024
Consent of Independent Registered
Public Accounting Firm
We consent to the incorporation by reference in each
of the following registration statements of
UBS AG:
(1)
on Form F-3 (Registration Number 333-263376),
and each related prospectus currently outstanding
under such registration statement,
(2)
the base prospectus of Corporate Asset Backed
Corporation (CABCO) dated 23 June 2004
(Registration Number 333-111572),
(3)
the Form 8-K of CABCO dated 23 June
2004 (SEC File Number 001-13444), and
(4)
the Prospectus Supplements relating to
the CABCO Series 2004-101 Trust dated 10 May 2004
(Registration Number 033-91744) and 17 May
2004 (Registration Number 033-91744-05),
of our reports dated 27 March 2024, with respect
to the consolidated financial statements
of UBS AG and the
effectiveness of internal control over financial reporting
of UBS AG, included in this Annual
Report (Form 20-
F) for the year ended 31 December 2023,
filed with the Securities and Exchange
Commission.
/s/ Ernst & Young Ltd