AXA S.A. announces the Pricing of the sale of 40 million shares of common stock of AXA Equitable Holdings, Inc.

AXA S.A. (AXA) announces today the pricing of the sale of 40,000,000 shares of common stock of AXA Equitable Holdings, Inc. (EQH) to Morgan Stanley and Barclays, as the underwriters in a registered public offering of those shares (the Offering). AXA sold the shares of common stock of EQH at a net price* of USD 20.85 per share, corresponding to USD 834 million of net proceeds*,**. AXA has granted the underwriters a 30-day option to purchase up to an additional 6,000,000 shares of EQH’s common stock.

Upon the expected completion of the Offering on June 7, 2019, AXA’s ownership of EQH’s common stock would decrease from approximately 48.3%***,**** to approximately 40.1%***,****.

EQH’s effective registration statement, including an accompanying prospectus, relating to the Offering was previously filed by EQH with the U.S. Securities and Exchange Commission (the SEC). Investors should read the prospectus and other documents EQH has filed with the SEC before investing for more complete information about EQH and the Offering. These documents are available on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: Barclaysprospectus@broadridge.com or telephone: 888-603-5847. Lazard is acting as financial adviser to AXA in connection with the Offering.

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.

*Net of underwriting discounts and commissions.
**Not including the net proceeds from the potential exercise of the over-allotment option of 6,000,000 EQH shares granted to the underwriters.
***EQH’s issued and outstanding common stock as of May 9, 2019 comprised 491,138,042 shares.
****Including the shares to be delivered on redemption of the bonds mandatorily exchangeable into EQH shares, issued by AXA in May 2018.