Execution of a share repurchase agreement in relation to AXA’s Shareplan and certain stock-based compensation

AXA has executed today a share repurchase agreement with an investment services provider, under which AXA will carry out a program to buy back its own shares for a maximum amount of Euro 724.6 million. In line with AXA’s current practice, the purpose of this share buy-back program is to:

• Eliminate the expected dilutive impact relating to AXA Group’s employee share offering (Shareplan 2025); and
• Cover the expected future delivery of shares under certain stock-based compensation schemes*.

The size of this share buy-back program is based on the expected number of shares to be issued under Shareplan 2025 and to be delivered under the relevant stock-based compensation schemes. The share buy-back program will be carried out in accordance with and subject to the terms of the applicable Shareholders’ Meeting authorization**.

Under the share repurchase agreement***, shares will be bought back commencing on June 3, 2025, and ending at the latest on July 11, 2025. 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.

The shares repurchased will either be canceled or delivered to the beneficiaries of the relevant stock-based compensation schemes.

* Performance shares plans.

** The Shareholders’ Meeting authorization granted on April 24, 2025.

*** This share buy-back program will be executed in addition to any other share buy-backs launched by AXA consistent with its capital management policy, including the share buy-back of Euro 3.8 billion that AXA anticipates launching following the expected closing of the sale of AXA Investment Managers to BNP Paribas.

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