WASHINGTON (dpa-AFX) - Swiss banking major UBS Group AG (UBS) announced
Monday that the Credit Suisse Supply Chain Finance Funds have made an offer to
redeem fund units.

Fund investors who choose to accept the offer will be redeemed at 90% of the Net
Asset Value determined on February 25, 2021, net of any payments made to the
fund investors since then, through newly established feeder subfunds.

UBS said the offer commenced on June 17, 2024 and will be open until July 31,
2024. Fund investors, who will receive details of the redemption offer through
their custodian, are asked to review the terms and the disclosures that
accompany the offer.

According to the firm, the offer aims to give fund investors certainty, an
accelerated exit from their positions and a high level of financial recovery. It
will allow an early exit from fund investments compared to distributions under
the ongoing recovery process.

The offer will be funded by UBS through the purchase of units of the feeder
subfunds.

UBS Group further said the offer is not expected to have a material effect on
its financial results or CET1 capital.

UBS AG expects to record a provision of around $0.9 billion on a consolidated
basis in connection with the offer in the second quarter. No material impact is
expected on UBS AG on a standalone basis.

The investment in the Supply Chain Finance Funds will be managed as part of
UBS's Non-Core and Legacy portfolio.



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