AXA — M&A Activity 2016

Sep 30, 2016

AXA PRESS RELEASE

PARIS, SEPTEMBER 30, 2016

AXA has completed the acquisition of Liberty Ubezpieczenia in Poland

AXA announced today that it had completed the acquisition of Liberty Ubezpieczenia, the Polish Property & Casualty operations of Liberty Mutual Insurance Group for a total consideration of PLN 101.3 million¹ (or Euro 23.5 million² ).

This transaction allows AXA to further strengthen its presence in Poland, which is one of the most attractive insurance markets in Central and Eastern Europe.

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	Julien Parot :	+33.1.40.75.59.80
François Boissin :	+33.1.40.75.39.82		Jean-Baptiste Mounier:	+33.1.40.75.46.68
Ghizlane de Casamayor :	+33.1.40.75.57.59
Aurore Chaussec :	+33.1.40.75.96.20
Mathias Schvallinger :	+33.1.40.75.39.20

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

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 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.

¹ Subject to purchase price adjustment

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² 1 EUR = 4.3056 PLN as of September 29, 2016 (Source: Bloomberg)