UBS Group (UBSG) AGM 2025 summary

Opening remarks and agenda

• AGM convened in accordance with legal and statutory requirements, with quorum confirmed and speaker registration process outlined.

• AGM scheduled for 10 April 2025 in Lucerne, with live webcast and multilingual support.

• Agenda includes 2024 performance, Credit Suisse integration, capital position, shareholder returns, compensation, sustainability, board elections, and Q&A.

• Voting procedures and recording of the meeting were explained, with emphasis on transparency and shareholder engagement.

Financial performance review

• Group invested assets reached $6.1 trillion, up 7% year-on-year, with net profit of $5.1 billion and a 14.3% CET1 capital ratio in 2024.

• Underlying return on CET1 capital was 8.7% in 2024, with targets of 15% by 2026 and 18% by 2028, and a cost-income ratio below 70%.

• Profit before tax rose to $6.8bn, with a 10-point year-on-year improvement in cost/income ratio.

• Cumulative gross cost savings of $7.5bn and non-core/legacy RWA reduced from $63bn to $41bn.

• Personnel expenses increased by just under 10% due to full-year inclusion of Credit Suisse employees.

Board and executive committee updates

• Board recognized CEO's leadership in the complex integration, with over 4,000 integration milestones completed in 2024.

• Two board members, Claudia Böckstiegel and Nathalie Rachou, stepped down; two new members, Renata Jungo Brüngger and Lila Tretikov, were elected.

• Board proposes re-election of Colm Kelleher and nine other directors for one-year terms.

• High board meeting attendance (99%) and active engagement with executive management.