UBS resolves RMBS matter with US Department of Justice

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

ZURICH & BASEL, Switzerland--(BUSINESS WIRE)-- Regulatory News:

UBS (NYSE:UBS) (SWX:UBSN) has reached an agreement with the United States Department of Justice (DOJ) to settle a legacy matter from 2006-2007, related to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS). Under the terms of the settlement, UBS will pay USD 1.435bn to resolve all civil claims by the DOJ in connection with UBS’s legacy RMBS business in the US. The settlement has been fully provisioned in prior periods.

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Cautionary statement regarding forward-looking statements

This document contains statements that constitute forward-looking statements. While these statements represent UBS’s judgments and expectations concerning the matters described, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from UBS’s expectations. Additional information about those factors is set forth in documents furnished and filings made by UBS with the US Securities and Exchange Commission, including the filings on Form 6-K dated 20 March 2023 and the Annual Report on Form 20-F for the year ended 31 December 2022. UBS undertakes no obligation to update the information contained herein.

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Source: UBS Group AG