Process of the Merger of UBS Green Property and UBS Direct Urban

As previously announced, on 29 October 2025 the regulatory authority approved the merger of UBS (CH) Property Fund – Direct Green Property and UBS (CH) Property Fund – Direct Urban. The amalgamation of both portfolios will be implemented as follows:

In the first step, UBS (CH) Property Fund – Direct Green Property will be renamed UBS (CH) Property Fund – Direct Mixed Urban (short: UBS Mixed Urban) as of 31 December 2025. The chosen name highlights the continuity of the fund and its focus on a diversified urban property portfolio.

It is planned that UBS Direct Urban will pay a special distribution from the results of the first six months of the financial year (1 July to 31 December 2025). UBS Mixed Urban (formerly UBS Green Property) will pay a regular dividend. The payment is scheduled to take place after the audit of the half-yearly or annual report and is planned for 20 March 2026.

As part of the transition, UBS Direct Urban and UBS Mixed Urban will be traded in parallel on the SIX Swiss Exchange until 31 March 2026. The merger will take place on 1 April 2026, during which the shares of UBS Direct Urban will be exchanged for shares in the merged fund UBS Mixed Urban. The calculation of the exchange ratio is based on the net asset value of both funds as of the end of 2025, taking into account the planned distributions. This ensures the value of the newly allocated shares corresponds to the adjusted total value of the shares of the discontinued UBS Direct Urban fund.

Following the merger, the new UBS Mixed Urban fund will rank among the largest real estate funds with mixed uses in Switzerland. The broadly diversified portfolio comprises 77 properties with an estimated market value of over CHF 4 billion and focuses on sustainable, mixed-use properties in urban locations throughout Switzerland. In the medium term, the fund aims for a residential quota of more than 50%.

This does not constitute a guarantee by UBS Asset Management.

Source: UBS Asset Management, Global Real Assets (GRA); data based on the last published annual financial statements (UBS Direct Urban as at 30.06.2025 and UBS Green Property as at 31.12.2024)