AXA S.A. announces the launch of the Initial Public Offering of AXA Equitable Holdings, Inc.

AXA S.A. (AXA) announces today the launch of the initial public offering (IPO) of its wholly-owned subsidiary, AXA Equitable Holdings, Inc. (AEH) and the commencement of the roadshow for the offering.

AXA, as the selling stockholder, is offering 137,250,000 shares* of common stock of AEH, and has granted the underwriters a 30-day option to purchase up to an additional 20,587,500 shares of common stock. The IPO price is currently expected to be between USD 24 and USD 27 per share.

The shares are being offered by a group of underwriters led by Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc. and Citigroup Global Markets Inc.. Copies of the preliminary prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717 or telephone: 866-803-9204; Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: Barclaysprospectus@broadridge.com or telephone: 888-603-5847; and Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or telephone: 800-831-9146.

The shares are expected to trade on the New York Stock Exchange under the ticker symbol EQH.

A registration statement relating to the proposed IPO has been filed by AEH with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

*Out of 561,000,000 total common shares