UBS AG

# UBS AG

This Swiss-incorporated financial institution, listed on the NYSE, issues the ETRACS Alerian MLP Infrastructure Index ETN Series B, a senior unsecured debt security that provides investors with exposure to energy infrastructure assets. The ETN tracks the Alerian MLP Infrastructure Index, which comprises master limited partnerships and similar structures that generate cash flows primarily from midstream and logistics operations in the energy sector.

The index constituents underlying this ETN derive revenue from gathering and processing facilities, liquefaction infrastructure, midstream services, pipeline transportation systems, rail terminaling operations, and energy commodity storage. These assets form the backbone of North American energy logistics networks, moving crude oil, natural gas, and refined products from production areas to end markets and consumption centers.

As a structured product offering, the ETN functions as a debt instrument rather than a direct equity stake, with performance linked to the underlying index. The product provides exposure to the cash flow generation of energy infrastructure operators without direct ownership, serving investors seeking infrastructure-focused returns with the credit risk associated with UBS as the issuer.