AXA announces the Subscription Prices for its 2016 employee share offering

The Subscription Prices are based on a reference price of Euro 19.40, which is equal to the arithmetical average of the 20 daily VWAPs (volume-weighted average prices), i.e. the arithmetic average of average AXA share trading prices during a given trading day, weighted by the volume of AXA shares traded on Compartment A of Euronext Paris at each price (excluding opening and closing prices), over a period of 20 trading days between September 16, 2016 (inclusive) and October 13, 2016 (inclusive) (the “Reference Price”).

Under the classic plan, for all countries, the Subscription Price will be equal to 80% of the Reference Price,
i.e. Euro 15.53

Under the leveraged plan, for all countries, the Subscription Price will be equal to 91.37% of the Reference Price,
i.e. Euro 17.73

The following information mainly summarises the other information contained in the press
release relating to Shareplan 2016 dated August 26, 2016.