The event marked the promotion's 16th overall trip to Australia, returning to the country for the first time since
UFC 243 in
Melbourne in October 2019. A
UFC Lightweight Championship bout between current champion
Islam Makhachev and current
UFC Featherweight Champion Alexander Volkanovski headlined the event. This was the eighth time in UFC history that champions in different divisions fought for the same title, following
UFC 94,
UFC 205,
UFC 226,
UFC 232,
UFC Fight Night: Cejudo vs. Dillashaw,
UFC 259, and
UFC 277. If successful, Volkanovski would have become the fourth man to be champion in two divisions simultaneously and fifth fighter overall (after
Conor McGregor at
UFC 205,
Daniel Cormier at
UFC 226,
Amanda Nunes at
UFC 232 and
UFC 277, and
Henry Cejudo at
UFC 238), as well as the eighth person overall to win a title in different divisions. It was also the first time in the organization's history that the number 1 pound-for-pound fighter (Volkanovski) faced the number 2 fighter (Makhachev) for a championship. An interim
UFC Featherweight Championship bout between
The Ultimate Fighter: Latin America featherweight winner
Yair Rodríguez and
Josh Emmett took place at the event. A middleweight bout between former
UFC Middleweight Champion (also
The Ultimate Fighter: The Smashes welterweight winner)
Robert Whittaker and former title challenger
Paulo Costa was linked to this event. However, Costa disputed the official announcement by the promotion indicating he had never signed a contract and the fight would not take place. The pair was previously expected to headline
UFC on ESPN: Whittaker vs. Gastelum in April 2021, but Costa withdrew due to illness. A flyweight bout between former
UFC Flyweight Championship challengers
Alex Perez and
Kai Kara-France (the latter for the interim title) was scheduled for this event. They were once booked for an event at
San Diego on May 16, 2020, but the card was moved to a different location due to the
COVID-19 pandemic and the bout eventually never took place. In turn, the bout was canceled in late December as Kara-France suffered an undisclosed injury. Perez was rescheduled for a bout against former
Rizin Bantamweight Champion Manel Kape at
UFC on ESPN: Vera vs. Sandhagen on March 25. A women's strawweight bout between
Loma Lookboonmee and
Elise Reed was scheduled for
UFC Fight Night: Lewis vs. Spivak. However, the pair was moved to this event for undisclosed reasons. A lightweight bout between
Nasrat Haqparast and
Jamie Mullarkey was expected to take place at the event. However, Haqparast withdrew due to undisclosed reasons and was replaced by promotional newcomer Francisco Prado. A lightweight bout between
Joel Álvarez and
Zubaira Tukhugov was scheduled for the event. However, Alvarez withrew from the event for undisclosed reasons and was replaced by promotional newcomer Elves Brenner. At the weigh-ins, Tukhugov weighed in at 157.5 pounds, one and a half pound over the lightweight non-title fight limit. The bout proceeded at catchweight and Tukhugov was fined 30% of his purse, which went to Brenner. A heavyweight bout between promotional newcomer
Junior Tafa and
Austen Lane was scheduled for this event. However, Lane withdrew due to undisclosed reasons and was replaced by
Waldo Cortes-Acosta. In turn, it was announced a few days later that Tafa withdrew due to injury and the bout was scrapped. A light heavyweight bout between
Tyson Pedro and
Zhang Mingyang was expected to take place at the event. However, Zhang withdrew for unknown reasons and was replaced by
Modestas Bukauskas. Also at the weigh-ins, Kleydson Rodrigues missed weight. He weighed in at 127 pounds, one pound over the flyweight non-title fight limit. The bout proceeded at catchweight with Rodrigues being fined 20% of his purse, which went to his opponent Shannon Ross. ==Results==