Update UBS - Response received from UBS

Dear participants in the lawsuit against UBS

We informed you that the Zurich Commercial Court had been served with UBS's statement of defence and that we were waiting for it to be forwarded. On 16 February 2024, our law firm was served with the comprehensive response. This comprises almost 150 pages plus extensive annexes. We will study these documents with our legal advisors in the coming days and send you a summary. This will take some time.

We will inform you again by newsletter. It is therefore not necessary for you to write or call us to request a copy of the documents or news. We will endeavour to inform you as soon as possible.

In addition, the court has also decided

• to consolidate all exchange ratio review proceedings (FusG 105) initiated against UBS into a single proceeding (i.e. over 30 additional plaintiffs);

• to set a deadline of 20 days for UBS to inform the court of all other proceedings with a similar legal basis that have been opened against UBS worldwide.

We wish you a pleasant weekend and remain with best regards,

Schweizerischer Anlegerschutzverein (SASV)