Execution of a share repurchase agreement in relation to AXA’s share buy-back program of up to Euro 1.6 billion

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 1.6 billion, reflecting:

• Euro 1.1 billion share buy-back, in line with its new capital management policy, as announced on February 22, 2024
• Euro 0.5 billion anti-dilutive share buy-back related to the reinsurance agreement for an in-force Savings portfolio at AXA France, as announced on December 20, 2023

The share repurchase agreement will be executed in accordance with the terms of the applicable Shareholders’ Annual General Meeting authorization*.

Under the share repurchase agreement** announced today, shares will be bought back commencing on February 26, 2024, and ending at the latest on August 5, 2024. 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 shares repurchased pursuant to this share buy-back program.

* The Shareholders’ Annual General Meeting authorization granted on April 27, 2023, or the authorization expected to be granted by the Shareholders’ Annual General Meeting on April 23, 2024, as applicable.

** The up to Euro 1.6 billion share buy-back program will be executed in addition to any other potential anti-dilutive share buy-back including the previously announced share buy-back to be executed following the closing of the sale of a Life & Pensions portfolio by AXA Germany.

*** The purchase price will not exceed the maximum purchase price approved at the applicable Shareholders’ Annual General Meeting.