UBS Headquarters
STRATEGIC ANALYSIS 2025

UBS

Global Wealth Management
Leadership Through Transformation

$6.9tn Invested Assets
#1 Private Bank
160+ Years Heritage

EXECUTIVE OVERVIEW

Strategic Framework

01

Market Position & Heritage

World's largest private bank with 160+ years of Swiss banking heritage, commanding $6.9 trillion invested assets and leading global wealth management market share.

02

Financial Performance 2024/25

Strong profitability with $5.1bn net profit (2024), robust Q3 2025 results, 14.8% CET1 ratio, and disciplined capital returns supporting transformation.

03

Credit Suisse Integration

Historic transformation with $10bn cost savings achieved, 90%+ client accounts migrated, and integration one quarter ahead of schedule.

04

Strategic Transformation

Global wealth management focus with technology leadership, $5tn+ asset target by 2028, and sustainable value creation strategy.

Future Outlook

Strategic positioning for long-term value creation and global leadership

$3bn
Share Buybacks 2025
UBS Building
CHAPTER ONE

Market Position
& Heritage

World's largest private bank with 160+ years of Swiss banking heritage

$6.9tn
Invested Assets
$4.7tn
Wealth Mgmt AUM

MARKET POSITION

Global Wealth Management Leader

UBS has solidified its position as the world's leading private bank through strategic transformation

Invested Assets Growth Trajectory

$6.9tn Q3 2025

Group invested assets reached record high, solidifying global leadership position

4% sequential growth, $202bn increase in Q3

Global Wealth Management Leadership

#1 Private Bank Globally
World's largest wealth manager by invested assets
Global Footprint
Presence across Americas, EMEA, and APAC regions

Source: UBS Quarterly Reporting Q3 2025

BUSINESS DIVISIONS

Diversified Business Portfolio

Five strategic business divisions creating comprehensive financial services powerhouse

Revenue by Business Division (Q3 2025)

Strategic Focus Areas

Wealth Management
Core growth engine
Swiss Banking
Home market strength
Asset Management
$2tn+ milestone

Global Wealth Management

Q3 2025 Revenues $6.5bn
Invested Assets $4.7tn
Net New Assets YTD $92bn
YoY Revenue Growth +6%

Other Divisions

Personal & Corporate Banking
Leading Swiss retail and corporate bank
Asset Management
$2tn+ invested assets milestone reached
Investment Bank
Focused on Global Markets and Global Banking
Financial
CHAPTER TWO

Financial
Performance
2024/25

Strong profitability and capital generation supporting strategic transformation

$5.1bn
Net Profit 2024
14.8%
CET1 Ratio

FINANCIAL RESULTS

Revenue & Profitability Excellence

Strong financial performance driven by wealth management growth and operational leverage

$5.1bn
Net Profit 2024
Full Year
$2.48bn
Net Profit Q3 2025
+74% YoY
$12.76bn
Total Revenues Q3
+3% YoY

Quarterly Profit Trajectory

Key Performance Drivers

1
Wealth Management Growth
6% revenue growth YoY in Q3
2
Investment Banking Recovery
Record Q3 in Global Markets
3
Cost Discipline
Integration savings delivery

Return on CET1

13.5%
Reported RoCET1
16.3% Underlying

Source: UBS Q3 2025 Report

CAPITAL ALLOCATION

Capital Strength & Shareholder Returns

Robust capital position enabling sustainable shareholder returns and strategic investments

14.8%
CET1 Capital Ratio
Strong
$3bn
Share Buybacks 2025
$1bn H1 + $2bn H2
$0.90
Dividend per Share
+29% YoY

Capital Metrics

CET1 Leverage Ratio 4.6%
Total Loss-Absorbing Capacity Strong
Risk-Weighted Assets $505bn
Leverage Ratio Denominator $1.1tn

Capital Return Strategy

Disciplined approach balancing growth investment and shareholder returns

$1bn
H1 2025 Buybacks
$2bn
H2 2025 Buybacks

Balance Sheet Strength

High-Quality Credit Book
93% of lending positions collateralized
Mortgage Portfolio
57% of loan book, high-quality collateral
Liquidity Position
Strong liquidity coverage ratio

Dividend Policy

$0.90
Dividend per Share (2024)
+29% vs. prior year
2025
~10% growth
Target
Progressive policy
Integration
CHAPTER THREE

Credit Suisse
Integration

Historic transformation creating global banking powerhouse, one quarter ahead of schedule

$10bn
Cost Savings
77%
of $13bn Target

TRANSFORMATION

Integration Progress & Milestones

Excellent progress on historic integration, delivering synergies ahead of schedule

Cost Savings Achievement

$10bn
Cumulative Cost Savings
77% of $13bn target achieved
Target by End-2026 $13bn
Progress 77% Complete
Schedule 1 Quarter Ahead

Integration Costs

Total Planned $14bn
Spent by End-2025 $13.5bn
Remaining for 2026 $0.5bn

Key Integration Milestones

Client Account Migration
90%+ client accounts outside Switzerland migrated to UBS platforms
Legal Entity Mergers
UBS AG and Credit Suisse AG merger completed May 2024, Swiss entities July 2024
IT Decommissioning
2,875 applications to decommission, 94% of trading books wound down
Asset Management Integration
Substantially completed, $2tn+ invested assets milestone reached

Swiss Operations

Swiss Client Migration ~33% Complete
Target Completion End Q1 2026
Full Integration Target End 2026

RISK MANAGEMENT

Non-Core & Legacy Wind-Down

Systematic de-risking strategy reducing legacy exposures and optimizing balance sheet

NCL Risk-Weighted Assets Reduction

NCL Progress Metrics

Current RWA $30.7bn
Q2 2025 RWA $32.6bn
Original Book Closed 83%
Target by End-2026 95%

De-Risking Strategy

Position Exits
Active unwinding of legacy positions
Cost Reduction
Lower liquidity and funding costs
Risk Mitigation
Reduced credit and market risk exposure

Source: UBS Q3 2025 Report

Strategy
CHAPTER FOUR

Strategic
Transformation

Global wealth management focus with technology leadership and innovation

$5tn+
Asset Target 2028
50,000
Copilot Licenses

STRATEGIC FOCUS

Global Wealth Management Growth

Leading wealth franchise driving client momentum and asset growth across all regions

Net New Assets Momentum

$92bn
Net New Assets YTD 2025
vs. $100bn full-year target
$38bn
Q3 2025 NNA
$97bn
Full Year 2024

Regional Performance

Americas Strong Inflows
EMEA Positive
APAC Strong

Wealth Management Metrics

$
Invested Assets
$4.7 trillion, +$202bn sequential growth in Q3
%
Revenue Growth
6% YoY growth in Q3 2025, driven by recurring fees and transactions
+
Ultra-High-Net-Worth Focus
New UHNW+ segment for clients with $50m+ assets

Growth Targets

$5tn+
Invested Assets by 2028
Ambitious growth target
$100bn
2025 NNA Target
$200bn
Annual NNA by 2028

US Market Expansion

Reorganized into regional units, international client team, and advice center

Focus
Enhanced profitability in US wealth management

INNOVATION

Technology & Innovation Leadership

Future-ready infrastructure and GenAI integration driving productivity and client experience

Digital Transformation

50,000
Copilot Licenses
75%
Cloud Usage
Microsoft Copilot Deployment
Completed rollout to 50,000 employees for productivity enhancement
Cloud Infrastructure
75% cloud usage enabling secure, scalable delivery

Strategic Partnerships

360 ONE Collaboration
Exclusive strategic partnership for wealth management in India and international markets
India Expansion
Strategic entry into high-growth Indian wealth management market

Technology Investment Areas

AI
Generative AI Integration
Boosting productivity across operations and client services
⚡
Scalable Infrastructure
Cloud-first approach for secure, scalable delivery
🔒
Cybersecurity
Continuous investment in robust security measures

Innovation Focus

AI & Machine Learning
Enhanced decision-making
Data Analytics
Client insights & personalization
Digital Platforms
Enhanced client experience
Process Automation
Operational efficiency

Future-Ready Infrastructure

Investing in technology to enable secure, scalable delivery and boost productivity

Group CTO
Focus on innovation and technological changes
Future
CHAPTER FIVE

Future
Outlook

Strategic positioning for long-term value creation and global leadership

$5tn+
Assets by 2028
$200bn
Annual NNA by 2028

STRATEGIC OUTLOOK

Growth Ambitions & Strategic Priorities

Ambitious growth targets through 2028, supported by technology and global expansion

Wealth Management Growth Targets

$5tn+
Invested Assets by 2028
Ambitious growth from current $4.7tn
Net New Assets Growth
$100bn (2025) → $200bn annually (2028)
Market Leadership
Consolidate #1 position in global wealth management

Investment Banking Focus

Global Banking Q3 Growth +52% YoY
Global Markets Q3 Growth +14% YoY
Strategic Focus Market Share Gains

Strategic Priorities

1
US Wealth Management Expansion

Regional units, international client team, advice center for enhanced profitability

2
Ultra-High-Net-Worth Segment

New UHNW+ segment for clients with $50m+ assets, enhanced services

3
Technology Investment

GenAI, cloud infrastructure, cybersecurity, and digital transformation

4
Emerging Markets

Strategic collaboration with 360 ONE in India, APAC expansion

Market Conditions & Outlook

Constructive Environment
Positive investor sentiment, greater optimism regarding US growth
Key Risks
Clouded macro outlook outside US, geopolitical uncertainties

RISK & SUSTAINABILITY

Risk Management & Sustainability

Comprehensive risk framework and commitment to sustainable finance leadership

Risk Framework Excellence

High-Quality Credit Book
93% of lending positions collateralized, demonstrating strong risk management
Mortgage Portfolio
57% of loan book, high-quality collateral with conservative LTV ratios
Balance Sheet for All Seasons
Robust capital ratios and liquidity position for market volatility

Credit Risk Management

Cost of Credit Risk (Q3) 6.6bps
Net Credit Loss Expense $7m
Credit Loss Releases Selective

Sustainability Leadership

🌱
Net Zero by 2050
Committed to net zero emissions across operations and financing
💚
Sustainable Finance
Leading provider of sustainable investment solutions and ESG integration
👥
Social Impact
Community investment and financial inclusion initiatives

Regulatory Compliance

Basel III Compliance Fully Compliant
Swiss Regulatory Engagement Active
Global Standards Leading

Sustainability & Impact

Leading sustainable finance and responsible investment practices

GEB Lead
Beatriz Martin - Sustainability and Impact
UBS
YOU & US

Positioned for Sustainable
Value Creation

UBS's transformation into the world's leading wealth manager, underpinned by Swiss banking heritage, technological innovation, and strategic execution, positions the bank to deliver sustainable value for clients, shareholders, and society.

$6.9tn
Invested Assets
$5.1bn
Net Profit 2024
$92bn
Net New Assets YTD
2050
Net Zero Target