AXA — Capital/Financing Update 2016

May 11, 2016

AXA PRESS RELEASE

PARIS, MAY 11, 2016

AXA announces the successful placement of EUR 500 million senior notes due 2028.

AXA announces today the successful placement of EUR 500 million of Reg S senior notes due 2028 to institutional investors to refinance, in advance, part of its outstanding debt. The spread over swap is 55 basis points, corresponding to a fixed coupon of 1.125% per annum.

Settlement of the notes is expected to take place on May 13, 2016.

ABOUT THE AXA GROUP

The AXA Group is a worldwide leader in insurance and asset management, with 166,000 employees serving 103 million clients in 64 countries. In 2015, IFRS revenues amounted to Euro 99.0 billion and IFRS underlying earnings to Euro 5.6 billion. AXA had Euro 1,363 billion assets under management as of December 31, 2015.

The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA's American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.

The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.

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 (www.axa.com).

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

Investor Relations:	+33.1.40.75.46.85	Individual Shareholder Relations:	Media Relations:	+33.1.40.75.46.74
Andrew Wallace-Barnett:	+33.1.40.75.46.85	+33.1.40.75.48.43	Hélène Caillet:	+33.1.40.75.55.51
Florian Bezault:	+33.1.40.75.59.17		Jean-Baptiste Mounier:	+33.1.40.75.46.68
François Boissin:	+33.1.40.75.39.82
Ghizlane de Casamayor:	+33.1.40.75.57.59
Aurore Chaussec:	+33.1.40.75.96.20

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein are 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 they are by nature 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 (or from past results). These risks and uncertainties include, without limitation, the risk of future catastrophic events including possible future weather related catastrophic events or terrorist related incidents. Please refer to the section "Cautionary statements" in page 2 of AXA's Document de Référence for the year ended December 31, 2015, 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.

This announcement is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities in any jurisdiction. The securities referred to in this press release will not be offered to the public.

This press release is not an offer for sale within the United States of any security of AXA or any of its affiliates. Securities of AXA or any of its affiliates may not be offered or sold in the United States absent registration under U.S. securities laws or unless exempt from registration under such laws.

Release, publication or distribution of this press release is forbidden in any jurisdiction where such release, publication or distribution would violate applicable laws or regulations. This press release shall not be distributed or published, directly or indirectly, in or into the United States, Canada, Australia or Japan.

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