Paris, July 1, 2025




Execution of a share repurchase agreement of
up to Euro 3.8 billion following the sale of AXA IM
AXA has executed a share repurchase agreement today with an investment services provider, whereby AXA will
carry out a program to buy back its own shares for a maximum amount of Euro 3.8 billion to offset the earnings
dilution from the sale of AXA Investment Managers (“AXA IM”) to BNP Paribas, as announced on August 1, 2024.


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


Under the share repurchase agreement, shares will be bought back commencing on July 2, 2025, and ending at
the latest on February 26, 2026. On each day during the purchase period, the price per share to be paid by AXA 1
will be determined on the basis of the volume-weighted average share price.


AXA intends to progressively cancel all shares repurchased thereunder.




1
The purchase price will not exceed the maximum purchase price approved at the applicable Shareholders’ Meeting




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ABOUT THE AXA GROUP FOR MORE INFORMATION:
The AXA Group is a worldwide leader in insurance and asset management, with 154,000 Investor Relations: +33.1.40.75.48.42
employees serving more than 95 million clients in 50 countries. In 2024, IFRS17 revenues Investor.relations@axa.com
amounted to Euro 110.3 billion and IFRS17 underlying earnings to Euro 8.1 billion. AXA
had Euro 983 billion in assets under management, including assets managed on behalf Individual Shareholder Relations: +33.1.40.75.48.43
of third parties, as of December 31, 2024.
Media Relations: +33.1.40.75.46.74
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker ziad.gebran@axa.com
symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American ahlem.girard@axa.com
Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY. Corporate Responsibility strategy:
axa.com/en/about-us/strategy-commitments
The AXA Group is included in the main international SRI indexes, such as Dow Jones
Sustainability Index (DJSI) and FTSE4GOOD. SRI ratings:
axa.com/en/investor/sri-ratings-ethical-indexes
It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP
FI) Principles for Sustainable Insurance and a signatory of the UN Principles for
Responsible Investment.

This press release and the regulated information made public by AXA pursuant to article
L. 451-1-2 of the French Monetary and Financial Code and articles 222-1 et seq. of the
Autorité des marchés financiers’ General Regulation are available on the AXA Group
website (axa.com).

THIS PRESS RELEASE IS AVAILABLE ON THE AXA GROUP WEBSITE axa.com




IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS USE OF NON-GAAP
FINANCIAL MEASURES
Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future
events, trends, plans, expectations or objectives, and other information that is not historical information. Forward-looking statements are generally
identified by words and expressions such as “expects”, “anticipates”, “may”, “plan” or any variations or similar terminology of these words and
expressions, or conditional verbs such as, without limitations, “would” and “could”. Undue reliance should not be placed on such statements because, by
their nature, they are subject to known and unknown risks and uncertainties, many of which are outside AXA’s control, and can be affected by other factors
that could cause AXA’s actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. Each
forward-looking statement speaks only at the date of this press release. Please refer to Chapter 5 - “Risk factors and Risk Management” of AXA’s Universal
Registration Document for the year ended December 31, 2024 (the “2024 Universal Registration Document”), for a description of certain important factors,
risks and uncertainties that may affect AXA’s business and/or results of operations. AXA specifically disclaims and undertakes no obligation to publicly
update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as
required by applicable laws and regulations.

This press release refers to one or more non-GAAP financial measures, or alternative performance measures (“APMs”), used by Management in analyzing
AXA’s operating trends, financial performance and financial position and providing investors with additional information that Management believes to be
useful and relevant regarding AXA’s results. These non-GAAP financial measures generally have no standardized meaning and therefore may not be
comparable to similarly labelled measures used by other companies. As a result, none of these non-GAAP financial measures should be considered in
isolation from, or as a substitute for, the Group’s consolidated financial statements and related notes prepared in accordance with IFRS. “Underlying
earnings”, “underlying earnings per share”, “underlying return on equity”, “combined ratio” and “debt gearing” are APMs as defined in ESMA’s guidelines
and the AMF’s related position statement issued in 2015. AXA defines these APMs and provides their reconciliation to the most closely related line item,
subtotal, or total in the financial statements of the corresponding period (and/or their calculation methodology, as applicable) in the Glossary of the 2024
Universal Registration Document.




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