ZURICH (dpa-AFX) - Swiss banking giant UBS AG (UBS) announced Thursday its
Board of Directors has approved the execution of a merger of UBS AG and Credit
Suisse AG. Following approvals from their respective Boards, both entities have
entered into a definitive merger agreement.

This follows the merger of the holding companies UBS Group AG and CS Group AG on
June 12, 2023.

The completion of the merger is subject to regulatory approvals and is expected
to happen in 2024.

Separately, UBS continues to prepare for the planned merger of UBS Switzerland
AG and Credit Suisse (Schweiz) AG also in 2024.

In March 2023, UBS agreed to buy troubled rival Credit Suisse for 3 billion
Swiss francs or about $3.24 billion.

In connection with the planned merger, UBS AG is filing today with the US
Securities and Exchange Commission (SEC) a Form 6-K containing unaudited pro
forma condensed financial information giving effect to the merger.



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