Debt issued measured at amortized cost (Tables)	6 Months Ended
Jun. 30, 2025
Disclosure Of Financial Liabilities [Line Items]
Debt issued measured at amortized cost	Debt issued measured at amortized cost USD m 30.6.25 31.3.25 31.12.24 Short-term debt 1 35,299 30,572 30,509 Senior unsecured debt 131,022 130,323 133,159 of which: contributes to total loss-absorbing capacity 93,503 93,863 92,515 of which: issued by UBS AG standalone with original maturity greater than one year 29,407 30,112 32,664 Covered bonds 11,432 9,044 8,762 Subordinated debt 17,291 17,038 15,030 of which: eligible as high-trigger loss-absorbing additional tier 1 capital instruments 2 16,608 16,352 13,084 of which: eligible as low-trigger loss-absorbing additional tier 1 capital instruments 1,245 of which: eligible as non-Basel III-compliant tier 2 capital instruments 196 205 207 Debt issued through the Swiss central mortgage institutions 29,190 26,474 26,335 Other long-term debt 476 429 424 Long-term debt 3 189,411 183,308 183,709 Total debt issued measured at amortized cost 4,5 224,709 213,880 214,219 1 Debt with an original contractual maturity of less than one year, includes mainly certificates of deposit and commercial paper. 2 For 30 June 2025, includes USD 10.2 bn (31 March 2025: USD 10.1 bn and 31 December 2024: USD 6.9 bn) that are, upon the occurrence of a trigger event or a viability event, subject to conversion into ordinary UBS shares. 3 Debt with an original contractual maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. 5 Except for Covered bonds ( 100 % secured), Debt issued through the Swiss central mortgage institutions ( 100 % secured) and Other long-term debt ( 93 % secured), 100 % of the balance was unsecured as of 30 June 2025.

Debt issued measured at amortized cost

USD m

30.6.25

31.3.25

31.12.24

Short-term debt

35,299

30,572

30,509

Senior unsecured debt

131,022

130,323

133,159

of which: contributes to total loss-absorbing capacity

93,503

93,863

92,515

of which: issued by UBS AG standalone with original maturity greater

than one year

29,407

30,112

32,664

Covered bonds

11,432

9,044

8,762

Subordinated debt

17,291

17,038

15,030

of which: eligible as high-trigger loss-absorbing additional

tier 1 capital instruments

16,608

16,352

13,084

of which: eligible as low-trigger loss-absorbing additional

tier 1 capital instruments

1,245

of which: eligible as non-Basel III-compliant tier 2 capital

instruments

196

205

207

Debt issued through the Swiss central mortgage institutions

29,190

26,474

26,335

Other long-term debt

476

429

424

Long-term debt

189,411

183,308

183,709

Total debt issued measured at amortized cost

4,5

224,709

213,880

214,219

1 Debt with

an original

contractual maturity

of less

than one

year,

includes mainly

certificates of

deposit and

commercial paper.

2 For 30 June

2025, includes

USD

10.2

bn (31 March

2025: USD

10.1

bn and

31 December 2024: USD

6.9

bn) that are, upon the occurrence of a trigger event or a viability event, subject to conversion into ordinary UBS shares.

3 Debt with an original contractual maturity greater than or equal

to one year. The

classification of debt issued into short-term

and long-term does not consider any early

redemption features.

4 Net of bifurcated embedded derivatives,

the fair value of which was

not material for

the periods presented.

5 Except for Covered bonds (

100

% secured), Debt issued through the Swiss central mortgage institutions (

100

% secured) and Other long-term debt (

% secured),

100

% of the balance was

unsecured as of 30 June 2025.