Execution of a share repurchase agreement in relation to AXA’s share buy-back program of up to Euro 0.5 billion as announced on February 24, 2022

AXA has executed today a share repurchase agreement with an investment services provider, whereby AXA will buy back its own shares for a maximum amount of Euro 0.5 billion to neutralize earnings dilution from disposals* announced after December 1, 2020**, as initially communicated on November 4, 2021 and confirmed on February 24, 2022. The share repurchase agreement will be executed in accordance with the terms of the share repurchase program authorized by the General Shareholders’ Meeting of April 29, 2021.

Under the share repurchase agreement announced today, shares will be bought back commencing on February 28, 2022 and ending at the latest on April 27, 2022. On each day during the purchase period, the price per share to be paid by AXA*** will be determined on the basis of the volume-weighted average share price.

AXA intends to cancel all repurchased shares related to the up to Euro 0.5 billion share buy-back program.

*Disposals announced after December 1, 2020 and either closed (Greece on May 31, 2021 and Singapore on February 11, 2022) or expected to be closed in 2Q22 (Malaysia, subject to closing conditions).

**As communicated during AXA’s Investor Day on December 1, 2020.

***The purchase price will not exceed the maximum purchase price approved by the General Shareholders’ Meeting of April 29, 2021.