Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules

Key highlights

Consolidated financials for 2Q23 and 1H23 include results for the former Credit Suisse business from 1 June 2023

  • 2Q23 net profit of USD 29bn including USD 29bn of negative goodwill from CS acquisition to sustain USD 238bn assumed RWA; underlying1 PBT of USD 1.1bn, of which USD 2.0bn from the UBS sub-group
  • Strong capital position maintained with CET1 capital ratio of 14.4% and CET1 leverage ratio of 4.8%
  • Credit Suisse (Schweiz) AG to be fully integrated following a thorough evaluation focused on creating lasting value
    for all stakeholders; closing of legal entity merger expected in 2024
  • Credit Suisse AG reports a 2Q23 US GAAP pre-tax loss of CHF 8.9bn; CHF 4.3bn excluding acquisition-related effects;
    adjusted pre-tax loss of CHF 2.1bn1
  • Credit Suisse franchise broadly stabilized with net deposit inflows of USD 18bn in 2Q23, momentum continuing into 3Q23
  • UBS Global Wealth Management recorded highest second-quarter net new money in over a decade at
    USD 16bn, momentum continuing into 3Q23
  • Non-core and Legacy perimeter defined with clear plans to substantially reduce capital consumption by year-end 2026
    with USD 9bn in RWAs exited in 2Q23
  • Plans to achieve greater than USD 10bn gross cost reductions, C/I ratio of <70%, and RoCET1 of around 15% exit-rate 2026