AXA : Results of the AXA Group employee share offering in 2019

Paris, December 2, 2019

Results of the AXA Group employee share offering in 2019

On August 26, 2019 AXA announced the launch of its 2019 employee share offering ("SharePlan 2019"), a capital increase reserved to its employees worldwide.

Approximately 26,000 employees in 40 countries, representing nearly 24% of the eligible employees, subscribed to SharePlan 2019.

The aggregate proceeds from the offering amount to over Euro 375 million, for a total of approximately 18 million newly-issued shares1, subscribed at a price of Euro 18.30 for the classic plan and Euro 21.73 for the leveraged plan. The new shares are created with full rights as of January 1st, 2019. This offering increases the total number of outstanding AXA shares which amounts to 2,432,778,025 on November 29, 2019.

Following SharePlan 2019, AXA's employees hold 5.13% of the share capital and 6.50% of the voting rights.

1 In order to eliminate the dilutive effect of the SharePlan 2019 offering and as announced in its press release published on September 16, 2019, AXA will undertake a cancellation of its shares in the next few days in accordance with its share repurchase program as authorized by the Shareholders' Meeting of April 24, 2019.

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ABOUT THE AXA GROUP	FOR MORE INFORMATION:
The AXA Group is a worldwide leader in insurance and asset management, with 171,000 employees	Investor Relations:	+33.1.40.75.48.42
serving 105 million clients in 61 countries. In 2018, IFRS revenues amounted to Euro 102.9 billion and	Andrew Wallace-Barnett:	+33.1.40.75.46.85
underlying earnings to Euro 6.2 billion. AXA had Euro 1,424 billion in assets under management as of	François Boissin:	+33.1.40.75.39.82
December 31, 2018.	Aayush Poddar:	+33.1.40.75.59.17
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN	Mikaël Malaganne:	+33.1.40.75.73.07
FR 0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA). AXA's American Depository Share is also	Mathias Schvallinger:	+33.1.40.75.39.20
quoted on the OTC QX platform under the ticker symbol AXAHY.	Alix Sicaud:	+33.1.40.75.56.66
The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability
Index (DJSI) and FTSE4GOOD.	Individual Shareholder Relations:
It is a founding member of the UN Environment Programme's Finance Initiative (UNEP FI) Principles	+33.1.40.75.48.43
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	Media Relations:	+33.1.40.75.59.80
the French Monetary and Financial Code and articles 222-1 et seq. of the Autorité des marchés	Julien Parot:	+33.1.40.75.59.80
financiers' General Regulation are available on the AXA Group website (axa.com).	Farah El Mamoune:	+33.1.40.75.46.68
	Jonathan Deslandes:	+33.1.40.75.97.24
THIS PRESS RELEASE IS AVAILABLE ON THE AXA GROUP WEBSITE axa.com
	Corporate Responsibility strategy:
	axa.com/en/about-us/strategy-commitments

SRI ratings: axa.com/en/investor/sri-ratings-ethical-indexes

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

This release is not an offer to sell or the solicitation of an offer to buy. The offering will only be carried out in those countries in which all filing procedures and/or required notifications will have been undertaken and in which authorizations or exemptions will have been granted, and where the procedures associated with informing or consulting with employee representatives will have been completed.

This press release is not intended for, and copies thereof should thus not be distributed to, countries in which such a prospectus has not been approved or such an exemption has not been made available or in which all required filings, notifications, consultations and/or information procedures have not yet been achieved or required authorizations or exemptions have not yet been granted.

With respect to the United States in particular, the securities mentioned in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of the Securities Act. AXA does not intend to register any portion of the planned offering in the United States or to conduct a public offering of securities in the United States. The securities will only be offered in transactions benefiting from an exemption from registration.

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 or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and AXA's plans and objectives to differ materially from those expressed or implied in the forward looking statements. Please refer to Part 4 - "Risk factors and risk management" of AXA's Document de Référence (Annual Report) for the year ended December 31, 2018, for a description of certain important factors, risks and uncertainties that may affect AXA's business, and/or results of operations. AXA 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.

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