6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TORULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

Date: June 26, 2023

Commission File Number: 1-15060

UBS AG

(Registrant’s name)

Bahnhofstrasse 45, Zurich, Switzerland, and

Aeschenvorstadt 1, Basel, Switzerland

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

THIS REPORT ON FORM 6-K IS BEING FILED FOR THE PURPOSE OF ADDING EXHIBITS TO UBS AG’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-263376).  THE EXHIBITS TO THIS REPORT SHALL BE DEEMED TO BE A PART OF SUCH REGISTRATION STATEMENT FROM THE DATE ON WHICH THIS REPORT IS FILED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

EXHIBIT INDEX

Exhibit 5.5

June 26, 2023

UBS AG

Bahnhofstrasse 45

CH-8098 Zurich

Switzerland

Re: UBS AG – Medium-Term Notes, Series B

Ladies and Gentlemen:

We have acted as special U.S. counsel in connection with certain senior debt securities (the “Notes”), which will be issued from time to time by UBS AG, a corporation organized under the laws of Switzerland (the “Company”). The Notes will be a part of the Company’s series of debt securities referred to as “Medium Term Notes, Series B."

The Company has filed with the Securities and Exchange Commission (the “Commission”) a Registration Statement on Form F-3 (the “Registration Statement”) (file number 333-263376) for purposes of registering under the Securities Act of 1933, as amended (the “Securities Act”), among other securities, the Notes to be issued from time to time pursuant to the Indenture, dated as of June 12, 2015, as amended by the First Supplemental Indenture dated as of July 3, 2017 (the “Indenture”), between the Company and U.S. Bank Trust National Association (the “Trustee”).

In connection with this opinion, we have examined such documents, instruments, certificates of public officials and of the Company and such questions of law as we have deemed necessary for the purpose of rendering the opinion set forth herein.

In such examination, we have assumed the genuineness of all signatures and the authenticity of all items submitted to us as originals and the conformity with authentic originals of all items submitted to us as copies.

The opinions hereinafter expressed are subject to the following qualifications and exceptions:

Based on the foregoing, it is our opinion that when the terms of the Notes to be issued under the Indenture and their issuance and sale have been duly established in conformity with the Indenture so as not to violate any applicable law or result in a default under or breach of any agreement or instrument binding upon the Company, and so as to comply with any requirement or restriction imposed by any court or governmental body having jurisdiction over the Company, and when the Notes have been duly executed, authenticated and delivered in accordance with the Indenture and issued and sold as contemplated by the Registration Statement, and if all the foregoing actions have been duly authorized by the Company, the Notes will be valid, binding and enforceable obligations of the Company, entitled to the benefits of the Indenture.

If a pricing supplement relating to the offer and sale of any particular Note is prepared and filed by the Company with the Commission on a future date and the pricing supplement contains a reference to this firm and our opinion substantially in the form set forth below, the consent set forth below shall apply to the reference to us and our opinion in substantially the following form:

“In the opinion of Mayer Brown LLP, when the Notes offered by this pricing supplement have been executed and issued by the issuer and authenticated by the trustee pursuant to the indenture and issued and sold as contemplated herein, the Notes will be valid, binding and enforceable obligations of the issuer, entitled to the benefits of the Indenture, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally, concepts of reasonableness and equitable principles of general applicability (including, without limitation, concepts of good faith, fair dealing and the lack of bad faith). This opinion is given as of the date hereof and is limited to the laws of the State of New York. Insofar as this opinion involves matters governed by Swiss law, Mayer Brown LLP has assumed, without independent inquiry or investigation, the validity of the matters opined on by Homburger AG, Swiss legal counsel for the issuer, in its opinion dated March 8, 2022 filed on that date with the Securities and Exchange Commission as Exhibit 5.4 to the issuer’s registration statement on Form F-3. This opinion is subject to customary assumptions about the trustee’s authorization, execution and delivery of the indenture and, with respect to the Notes, authentication of the Notes and the genuineness of signatures and to such counsel’s reliance on the issuer and other sources as to certain factual matters, all as stated in the legal opinion dated June 26, 2023, which has been filed as an exhibit to a report on Form 6-K by the issuer on June 26, 2023.”

We hereby consent to the filing of this opinion as an exhibit to a report on Form 6-K to be filed by the Company with the Commission on or about the date hereof and its incorporation by reference into the Registration Statement.  In giving our consent hereunder, we do not admit hereby that we come within the category of persons whose consent is required under Section 7 of the Securities Act, or the rules and regulations of the Commission thereunder.

EXHIBIT 23.8

June 26, 2023

UBS AG

Bahnhofstrasse 45

CH-8098 Zurich

Switzerland

Re: UBS AG – Medium-Term Notes, Series B

Ladies and Gentlemen:

UBS AG, a corporation organized under the laws of Switzerland (the “Company”), has filed with the Securities and Exchange Commission (the “Commission”) a Registration Statement on Form F-3 (the “Registration Statement”)(file number 333-263376) for purposes of registering under the Securities Act of 1933, as amended (the “Securities Act”), among other securities, the Company’s Medium Term Notes, Series B (The “Notes”), to be issued from time to time pursuant to the Indenture, dated as of June 12, 2015, as amended by the First Supplemental Indenture dated as of July 3, 2017 (the “Indenture”), between the Company and U.S. Bank Trust National Association (the “Trustee”).

We hereby consent to any reference to us, in our capacity as special tax counsel to the Company, or any opinion of ours delivered in that capacity in a product supplement, product prospectus supplement or pricing supplement relating to the offer and sale of any particular Note or Notes prepared and filed by the Company with the Commission on this date or a future date.

In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.