UBS AG: Changes to UBS's Group Executive Board

• Mike Dargan, Group Chief Operations and Technology Officer, will step down from his role
• Group Technology function to report into Group Chief Operating Officer Beatriz Martin

Regulatory News:

As Mike Dargan has decided to step down as Group Chief Operations and Technology Officer at the end of December to pursue an opportunity outside of UBS, the Group Technology function will report into Beatriz Martin as she takes up her new role as Group Chief Operating Officer on 1 January 2026. Pending the appointment of a permanent successor, Chris Gelvin will act as interim Head Group Technology, in addition to his current role of Chief Operating Officer, Group Technology.

Adding Group Technology to the Group COO portfolio will support smooth end-to-end operations, prioritize initiatives related to technology and artificial intelligence, and ensure a smooth completion of the remaining technology integration process.¹

Commenting on the appointments, Group CEO Sergio P. Ermotti said: "Mike has been instrumental in positioning our technology as a driver of business growth and resilience and progressing the firm's strategic shift towards AI and digitization. I would like to thank Mike for his significant contributions to UBS and wish him all the best for this future. I also congratulate Bea on her expanded responsibilities and thank her for her ongoing leadership."

¹ Changes to the Group Executive Board are subject to regulatory approval.

(NYSE:UBS) (SWX:UBSN)

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