Société anonyme and

Société d'investissement à capital variable

49, Avenue J.F. Kennedy L-1855 Luxembourg

RCS Luxembourg Nr. B 83.626 www.ubs.com/etf

Notice to the shareholders of

UBS (Lux) Fund Solutions
(the "Company")

Dear Shareholder,

We are writing to you as a shareholder of the Company ("Shareholder") to inform you of the following upcoming changes to the sub-fund of the Company.

Capitalised terms used herein, unless otherwise defined, shall have the same meaning as given to them in the prospectus of the Company (the "Prospectus").

Change of the investment objective and investment policy of UBS EUR AAA CLO UCITS ETF (the "Sub-Fund"):

The investment policy of the Sub-Fund will be updated in order to (i) promote certain environmental, social and governance (ESG) characteristics as further described below and (ii) allow more flexibility in the management of the collateralized loan obligations.

Consequently, the prospectus will include disclosures under Article 8 of the Regulation 2019/2088 on sustainability‐related disclosures in the financial services sector ("SFDR").

The changes are driven by the formal recognition of ESG factors that have been imbedded in the Sub-Fund's investment approach. It aims to (i) reflect the fact that the Sub-Fund integrates ESG characteristics and (ii) formalizes the commitment of the Sub-Fund to transparency and sustainability, in line with Article 8 SFDR requirements.

The investment objective and investment policy of the Sub-Fund shall be amended as follows (new wording underlined):

"Investment Objective

The UBS EUR AAA CLO UCITS ETF sub-fund aims to provide investors with a total return, taking into account both capital appreciation and income returns by investing at least 80% of its assets in AAA-rated collateralized loan obligations ("CLOs") and investing up to 20% of its assets in CLOs of investment grade tranches. […]

Investment Policy

The sub-fund will predominantly invest its net assets in Euro-denominated AAA-rated CLOs collateralized loan obligations ("CLOs"). and may invest up to 20% of its assets in CLOs denominated in a currency other than the Euro. The sub-fund seeks to invest at least 80% of its assets in Euro-denominated CLOs that are, at the time of purchase, rated AAA (or equivalent by a nationally recognised ratings agency). while up to 20% may consist of investment grade tranches (or equivalent by a nationally recognised ratings agency).

If any securities in the portfolio are downgraded below an long terms rating of AAA investment grade (or equivalent by a nationally recognised ratings agency), the Investment Manager will aim to sell those securities as soon as reasonably possible, provided that doing so is deemed to be in the best interests of the investors.

Moreover, the sub-fund may enter into derivative transactions as described under chapter C "Investment objectives and investment policy of the sub-funds".

This sub-fund complies with Article 6 of SFDR.

The sub-fund considers principal adverse impacts on sustainability factors due to its investment strategy and the nature of underlying investments.

Principal adverse impacts (the "PAI") are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti‐corruption, and anti‐bribery matters. The Investment Manager integrates PAI indicators in its decision-making process.

- At present, the following PAI indicator is considered by means of exclusions from the investment universe:

1.14 "Exposure to controversial weapons (anti-personnel mines, cluster munitions, chemical weapons and biological weapons)":

The Investment Manager does not invest in companies involved in cluster munitions, anti-personnel mines or chemical and biological weapons, nor does it invest in companies in breach of the Treaty on the Non- Proliferation of Nuclear Weapons. The Investment Manager considers a company to be involved in controversial weapons if the company is involved in development, production, storage, maintenance or transport of controversial weapons, or is a majority shareholder (>50% ownership stake) of such a company.

The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities (TR Art. 7).

This sub-fund promotes environmental and/or social characteristics and complies with Article 8 of SFDR.  

Information related to environmental and/or social characteristics is available in annex 26 to this document (SFDR RTS Art. 14(2)).

This product is a complex product and is not available to retail "Basic investors Investors" and "Informed Investors" as prescribed in the European MiFID template, as further described in the section "Eligibility Criteria and Target Market"."

Furthermore the eligibility criteria and target market of the Sub-Fund shall be amended as follows (new wording underlined):

"Eligibility Criteria and Target Market

[...] Accordingly, the shares are not suitable for "Basic Investors" and "Informed Investors" as prescribed in the European MiFID template, being investors who have a basic knowledge of relevant financial instruments and no financial industry experience, and shall not be offered to retail investors on an execution only basis. Share classes shall not be offered on the secondary market to retail Investors who are basic Basic Investors or Informed Investors or to retail investors on an execution only basis, in each case as prescribed in the European MiFID Template. Additional information to that contained in this prospectus may be provided to third parties (i.e. stockbrokers/intermediaries) as to the investor profile to enable these third parties to comply with their legal or regulatory obligations.

The target market for the shares are "Informed Investors", "Advanced Investors", "Professional Investors" and "Eligible Counterparties", each as prescribed in the European MiFID template. "Informed Investors" have one, or more, of the following characteristics: (i) average knowledge of relevant financial products (an informed investor can make an informed investment decision based on the regulated and authorised offering documentation, together with knowledge and understanding of the specific factors/risks highlighted within them only) and/or (ii) some financial industry experience within the meaning of the European MiFID Template (as may be amended from time to time). "Advanced Investors" have a good knowledge of relevant financial products and transactions or financial industry experience or are in receipt of professional investment advice or gaining access through a discretionary portfolio service."

Information for shareholders of the Company

Should you disagree with the planned changes mentioned above, you may redeem your shares, free of redemption charge until 12 January 2026 in accordance with the redemption procedure set out in the prospectus.

The abovementioned changes will become effective as of 13 January 2026 and will be reflected in the next version of the Prospectus.

The prospectus and key information documents of the SICAV are available free of charge at the SICAV's management company, UBS Asset Management (Europe) S.A., having its registered office at 33A, Avenue J.F. Kennedy, L-1855, Kirchberg, Luxembourg, Grand Duchy of Luxembourg, or online at www.ubs.com/etf.

If you have any queries in relation to the above, please seek advice from your stockbroker, bank manager, legal adviser, accountant or other independent financial advisor.

Luxembourg, 12 December 2025