AXA/2026/1Q activity indicators press release: Difference between revisions

* Gross written premiums & other revenues (1footnote: insurance premiums collected during the period (including risk premiums, premiums from pure investment contracts with no discretionary participating features, fees and revenues, net of commissions paid on assumed reinsurance business). wereOther upRevenues represent premiums and fees collected on activities other than insurance (i.e. banking, services, and asset management activities).) '''+6%''' vs. 1Q25 to '''EUR 38.0bn''' ^{p. 1}.

** Property & Casualty premiums were up '''+4%''' to '''EUR 21.5bn''' ^{p. 1}.

*** Retail premiums were up '''+7%''', with '''(+4%''' from price effect, and '''+3%''' from volumes) ^{p. 1}.

*** Commercial premiums were up '''+3%''', with (equal contributions from price effect and volumes) ^{p. 1}.

** Life & Health premiums were up '''+8%''' to '''EUR 16.5bn''' ^{p. 1}.

*** Life premiums were up '''+8%''' ^{p. 1}.

*** Health premiums were up '''+8%''' ^{p. 1}.

* Net flows were(footnote: Life & Health net flows, PVEP, NB CSM, NBV, and NBV margin include Health business predominantly written in Life entities.) '''+EUR +2.7bn''' ^{p. 1}.

* AXA is on track to achieve underlying earnings per share growth for 2026 at the upper end of the '''6-8%''' plan target range (4) ^{p. 1}.

* AXA will present its new strategic plan for 2027-2029 on September 15, 2026 ^{p. 1}.

* <blockquote> "AXA delivered a strong start to the year, with topline growth across all business lines, fully aligned with our organic growth strategy. This performance underscores the continued robust expansion of our P&C businesses in both Retail and Commercial, with growth well balanced between pricing and volumes, while Life & Health revenues reflect the continuation of last year's strong momentum." — <small>(Alban de Mailly Nesle, Chief Financial Officer of AXA ^{p. 1})</small></blockquote>

* <blockquote> "In the context of a volatile macro environment, we operate from a position of strength, supported by a robust balance sheet, a Solvency II ratio of 211% and a high-quality investment portfolio. This gives us strong resilience and flexibility. We remain confident in our ability to deliver underlying earnings per share growth for 2026 at the top end of our target range and to sustain growth beyond the current plan." <small>(Alban de Mailly Nesle, Chief Financial Officer of AXA ^{p. 1})</small></blockquote>

* <blockquote> "I would like to express my gratitude to our colleagues, agents, and partners for their dedication, as well as to our clients for their continued trust in AXA." <small>(Alban de Mailly Nesle, Chief Financial Officer of AXA ^{p. 1})</small></blockquote>

=== Press release ===

* The press release was issued in Paris on May 5, 2026, at 5:45 pm45pm CET ^{p. 1}.

* AllThe footnotesdocument forcovers this1Q26 pressActivity releaseindicators, arehighlighting onsustained pagerevenue 7momentum ^{p. 1}.

|+ AXA's1Q26 key financialhighlights: figuresgross forwritten 1Q25premiums and 1Q26other revenues. ^{p. 2}

! style="text-align:left" | Key figures (EUR billion, unless otherwise noted)

|+ AXA's1Q26 key highlights: Solvency II ratio for FY25, January 2026, and 1Q26. ^{p. 2}

! style="text-align:left" | Key figures (EUR billion, unless otherwise noted)

* Total gross written premiums & other revenues (1) were up '''+6%''' ^{p. 2}.

** Property & Casualty was up '''+4%''' ^{p. 2}.

*** Personal lines were up '''+7%''', (driven by higher volumes and favorable price effect) ^{p. 2}.

*** Commercial lines (5)footnote: wereP&C upCommercial lines excluding AXA XL Reinsurance.) '''+3%''', (from both higher volumes, (notably at AXA XL Insurance), and favorable price effect (6), mainly in the SME & Mid-market business in Europe and France) ^{p. 2}.

*** AXA XL Reinsurance was down '''-7%''', (reflecting discipline in softening market conditions) ^{p. 2}.

** Life & Health was up '''+8%''' ^{p. 2}.

*** Life premiums were up '''+8%''', (driven by strong sales in Unit-Linked ('''+16%''') and G/A (7footnote: General account.) ('''+9%''') across all geographies, and Protection ('''+4%''') from strong sales in Protection with Savings in Hong Kong and Japan) ^{p. 2}.

*** Health premiums were up '''+8%''', (driven by favorable price effects across all geographies) ^{p. 2}.

* Solvency II ratio (2) was '''211%''' as of March 31, 2026 ^{p. 2}.

** On January 1, 2026, the Solvency II ratio was '''215%''' following the end of the grandfathering period (8)footnote: (downCapital instruments and subordinated debt subject to Solvency II transitional measures were grandfathered until January 1, 2026, at which point they ceased to qualify as capital under Solvency II, as disclosed in AXA'''s respective press releases on its 9M25 Activity Indicators and Full Year 2025 Earnings, each published on www.axa.com.) (-10 points''' vs. December 31, 2025) ^{p. 2}.

* The* Solvency II ratio was down '''-4 points''' vs. January 1, 2026, reflecting: ^{p. 2}.

*** AReflecting a strong operating return ('''+7 points'''), less accrued dividend and annual share buyback for 1Q26 ('''-6 points''') ^{p. 2}.

*** UnfavorableMore than offset by unfavorable financial market movements ('''-4 points'''), notably from higher inflation expectations and elevated equity and interest rate volatility ^{p. 2}.

|+ Property & Casualty: gross written premiums and other revenues for 1Q25 and 1Q26. ^{p. 3}

! style="text-align:left" | Key figures (EUR billion, unless otherwise noted)

* Gross written premiums & other revenues (1) for Property P& CasualtyC were up '''+4%''' to '''EUR 21.5bn''' ^{p. 3}.

** Personal lines grew by '''7%''' to '''EUR 7.0bn''', driven by: ^{p. 3}.

*** Europe ('''+7%'''), (from favorable price effects across geographies (except UK & Ireland), and higher volumes) ^{p. 3}.

*** France ('''+8%'''), (with strong volume growth from direct business and proprietary agent networks, combined with favorable price effect) ^{p. 3}.

*** Asia, Africa & EME LATAM ('''+7%'''), (mainly driven by higher average premiums in Türkiye and higher volumes in Mexico) ^{p. 3}.

** Commercial lines grew by '''3%''' to '''EUR 13.2bn''', mainly from: ^{p. 3}.

*** AXA XL Insurance ('''+2%'''), (from growth in Property and Specialty where margins remain attractive, partly offset by lower volumes in Casualty; pricing overall remains stable vs. 1Q25) ^{p. 3}.

*** France ('''+6%'''), (from both favorable price effect and higher volumes) ^{p. 3}.

*** Asia, Africa & EME-LATAM ('''+10%'''), (mainly driven by higher average premiums in Türkiye) ^{p. 3}.

** AXA XL Reinsurance decreased by '''7%''' to '''EUR 1.2bn''', reflecting lower volumes consistent with maintaining profitability in a softer market environment, with pricing down '''-4%''' ^{p. 3}.

** GroupReflects naturallower catastrophevolumes, experienceconsistent inwith 1Q26focus wason slightlymaintaining belowprofitability thein prorateda annualsofter budgetmarket environment ^{p. 3}.

|+ Life & Health: keygross figureswritten forpremiums, 1Q25PVEP, NB CSM, NBV, and 1Q26net flows. ^{p. 4}

! style="text-align:left" | Key figures (EUR billion, unless otherwise noted)

* 1Q25 PVEP, NB CSM, NBV, and NBV margin have been updated based on FY25 financial and actuarial assumptions for comparability, reflecting their contribution to FY25 figures (see Appendix 5) ^{p. 4}.

* All year-on-year changes are on a comparable basis vs.versus the updated 1Q25 figures ^{p. 4}.

* Gross written premiums & other revenues (1) for Life & Health were up '''+8%''' to '''EUR 16.5bn''' ^{p. 4}.

** Life premiums increased by '''8%''' to '''EUR 10.5bn''', driven by: ^{p. 4}.

*** Unit-Linked ('''+16%'''), (from continuedcontinuation of positive sales momentum across geographies) ^{p. 4}.

*** G/A Savings ('''+9%'''), (mainly from successful commercial campaigns in Spain, strong single-premium sales in Japan, good performance of G/A capital-light products in Italy, and positive momentum in Individual Savings in Switzerland) ^{p. 4}.

*** Protection ('''+4%'''), (primarily from the continued success of Protection with G/A savings in Hong-Kong and Protection with Unit-Linked in Japan, as well as Individual Protection with Savings in Switzerland) ^{p. 4}.

** Health premiums increased by '''8%''' to '''EUR 5.9bn''', (driven by favorable price effects across all geographies) ^{p. 4}.

** Life ('''+10%'''), (reflecting strong sales across geographies in both Savings ('''+14%''') and Protection ('''+6%'''), partly offset by lower Group Life sales in Switzerland) ^{p. 4}.

** Health ('''+4%'''), (mainly due to higher Group business volumes in France, partly offset by Japan) ^{p. 4}.

* NB CSM (pre-tax) (1,11) increased by '''+4%''' to '''EUR 0.6bn''', driven by strong Savings and Protection sales across most geographies, partly offset by unfavorable mix, including lower Group Life sales in Switzerland and Health sales in Japan ^{p. 4}.

** ProtectionNB ('''EURCSM +1.8bn'''),growth mainlywas inpartly Hongoffset Kongby lower sales and Switzerlanda inless Individualfavorable Life,mix andin inJoint JapanVentures in ProtectionThailand withand Unit-Linked productChina ^{p. 4}.

** G/ANet Savingsflows were ('''EUR -0+2.8bn7bn'''), reflecting(prior: inflows in capital-light G/A savings ('''EUR +02.7bn'''), more than offset by outflows5bn in traditional G/A Savings ('''EUR -1.5bn'''1Q25) ^{p. 4}.

** HealthProtection ('''EUR +1.0bn8bn'''), mostlymainly fromin Germany,Hong FranceKong and Switzerland in Individual Life, and in Japan in Protection with Unit-Linked product ^{p. 4}.

|+ Insurer financial strength and AXA's credit ratings for AXA. ^{p. 5}

! style="text-align:centerleft" | —

! style="text-align:centerright; width:9em" | —

* '''Capital-light G/A products''': encompass all products with no guarantees, with guarantees at maturity only, or with guarantees equal to or lower than 0% ^{p. 5}.

* '''Contractual service margin ('CSM')''': a component of the carrying amount of the asset or liability for a group of insurance contracts representing the unearned profit to be recognized as services are provided to policyholders ^{p. 5}.

* '''Gross written premiums and other revenues''': insurance premiums collected during the period (including risk premiums, premiums from pure investment contracts with no discretionary participating features, fees and revenues, net of commissions paid on assumed reinsurance business);. Other Revenues represent premiums and fees collected on activities other than insurance (i.e., banking, services, and asset management activities) ^{p. 5}.

* '''New business contractual service margin ('NB CSM')''': a component of the carrying amount of the asset or liability for newly issued insurance contracts during the period, representing the unearned profit to be recognized as insurance contract services are provided ^{p. 5}.

* '''New business value ('NBV')''': the value of newly issued contracts during the current year,. It consistingconsists of the sum of (i) the NB CSM, (ii) the present value of the future profits of Short-Term Business newly issued contracts during the period, (carried by Life entities, considering expected renewals), and (iii) the present value of the future profits of pure investment contracts accounted for under IFRS 9, net of (iv) the cost of reinsurance, (v) taxes, and (vi) minority interests ^{p. 5}.

* '''New business value margin ('NBV Margin')''': the ratio of (i) NBV representing the value of newly issued contracts during the current year to (ii) PVEP ^{p. 5}.

* '''Present value of expected premiums ('PVEP')''': the new business volume, equal to the present value at the time of issue of the total premiums expected to be received over the policy term;. PVEP is discounted at the reference interest rate and PVEP is Group share ^{p. 5}.

* '''AM''': A.M.AM Best

* '''GBPGWP''': PoundGross SterlingWritten Premiums

* '''France''': includes insurance activities, banking activities, and holding ^{p. 6}.

* '''Europe''': includes Switzerland (insurance activities), Germany (insurance activities and holding), Belgium and Luxemburg (insurance activities and holding), United Kingdom and Ireland (insurance activities and holding), Spain (insurance activities and holding), Italy (insurance activities), Prima (13) (insurance activities), AXA Health International (insurance activities), and AXA Life Europe (insurance activities) ^{p. 6}.

* '''AXA XL''': includes insurance and reinsurance activities and holding ^{p. 6}.

* '''Asia, Africa & EME-LATAM includes''': ^{p. 6}.

** '''Asia''': Japan (insurance activities and holding), Hong Kong (insurance activities), Thailand P&C, Indonesia L&S (excludingexcl. the bancassurance entity), China P&C, South Korea, and Asia Holdings (fully consolidated); China L&S, Thailand L&S, the Philippines L&S and P&C, Indonesia L&S (the bancassurance entity) (consolidated under the equity method, contributing only to NBV, PVEP, underlying earnings, and net income) ^{p. 6}.

** EME-LATAM'''Africa''': MexicoEgypt (insurance activities), Colombiaand (insurance activitiesholding), BrazilMorocco (insurance activities and holding), and TürkiyeNigeria (insurance activities and holding) (fully consolidated); Russia (Reso) (insurance activities) (consolidated under the equity method, contributing only to net income) ^{p. 6}.

|+ End of period and average exchange rates for various currencies. ^{p. 6}

* Change in gross written premiums & other revenues, new business value ('NBV'), present value of expected premiums ('PVEP'), and new business value margin ('NBV Margin') is on a comparable basis (constant forex, scope, and methodology), unless otherwise indicated ^{p. 7}.

* These and other terms are defined in the glossary section of this press release ^{p. 7}.

* The Solvency II ratio (2) is estimated primarily using AXA's internal model calibrated based on an adverse 1/200 years shock ^{p. 7}.

* It includes a theoretical amount for dividends and share buybacks accrued for the first three months of 2026, based on the full-year dividend of '''EUR 2.32''' per share''' to be paid in 2026 for FY25 and an annual share buyback of '''EUR 1.25bn''' announced on February 26, 2026 ^{p. 7}.

* Annual share buybacks exclude anti-dilutive share buybacks related to certain disposals and in-force management transactions, as well as share buybacks to offset dilutive effects relating to employee share offerings and stock-based compensation ^{p. 7}.

* Dividends and share buybacks are proposed by the Board, at its discretion, based on a variety of factors described in AXA's 2025 Universal Registration Document and then submitted to AXA's shareholders for approval ^{p. 7}.

* This estimate should not be considered an indication of the actual dividend and share buyback amounts for the 2026 financial year ^{p. 7}.

* For further information on AXA's internal model and Solvency II disclosures, refer to AXA Group's Solvency and Financial Condition Report (SFCR) as of December 31, 2024, available on www.axa.com ^{p. 7}.

* Expected underlying earnings per share ('UEPS') growth for 2026 (4) is a forward-looking statement providingto provide one-off guidance forin the context of the last year of the Group's current strategic plan, qualified by cautionary statements in this press release ^{p. 7}.

* Price'Commercial effectlines' (6)refers isto calculatedP&C asCommercial alines percentageexcluding ofAXA totalXL gross written premiums of the prior yearReinsurance ^{p. 7}.

* CombinedThis ratiowas (10)disclosed isin aAXA's non-GAAPpress financialreleases measure,on orits alternative9M25 performanceActivity measureIndicators ('APM')and Full Year 2025 Earnings ^{p. 7}.

* LifeNatural &catastrophe Health net flows, PVEP, NB CSM, NBV, and NBV margin (11)charges include Healthnatural businesscatastrophe predominantlylosses writtenregardless inof Lifeevent entitiessize ^{p. 7}.

* RestrictedCombined Tier 1 (12)ratio is rateda 'A'non-GAAP byfinancial Standardmeasure, &or Poor'salternative andperformance 'A3measure (hyb)' by MoodyAPM's) ^{p. 7}.

* TierLife 2& (12)Health isnet ratedflows, 'A'PVEP, byNB StandardCSM, & Poor'sNBV, and 'A1NBV (hyb)'margin byinclude Moody'sHealth business predominantly written in Life entities ^{p. 7}.

* AXARestricted completedTier its1 acquisitionis ofrated a'A' majorityby stakeStandard in& PrimaPoor's inand Italy'A3 on(hyb)' Novemberby 28, 2025 (13)Moody's ^{p. 7}.

* AllTier comments2 andis changesrated are'A' onby aStandard comparable& basisPoor's forand activity indicators'A (constanthyb)' forex,by scope, and methodology)Moody's ^{p. 7}.

* ActuarialAXA andcompleted financialits assumptionsacquisition forof NBVa andmajority PVEPstake calculationin arePrima updatedin semi-annuallyItaly aton halfNovember year28, and full year2025 ^{p. 7}.

* FinancialAll figurescomments and informationchanges inare thison pressa releasecomparable havebasis notfor beenactivity auditedindicators or(constant subjectforex, toscope limitedand review by AXA's statutory auditorsmethodology) ^{p. 7}.

* The AXA Group is a worldwide leader in insurance, with '''156,000''' employees serving over '''92 million''' clients in '''52''' countries ^{p. 8}.

* In 2025, revenuesAXA's amountedrevenues towere '''EUR 115.5bn''' and underlying earnings towere '''EUR 8.4bn''' ^{p. 8}.

* The AXA ordinary share is listed on compartment A of Euronext Paris under ticker symbol '''CS''' (ISN '''FR 0000120628 -'''; Bloomberg: '''CS FP -'''; Reuters: '''AXAF.PA''') ^{p. 8}.

* AXA's American Depository Share is quoted on the OTC QX platform under ticker symbol '''AXAHY''' ^{p. 8}.

* The AXA Group is included in main international SRI indexes, such asincluding Dow Jones Sustainability Index (DJSI) and FTSE4GOOD ^{p. 8}.

* ItAXA 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 ^{p. 8}.

* ThisPress press releasereleases and regulated information are available on the AXA Group website (axa.com) ^{p. 8}.

* CertainForward-looking statements in thisthe press release are forward-looking, including those regarding expected underlying earnings per share ('UEPS') growth for 2026, are based on Management's current views and intentions and are subject to change ^{p. 8}.

* TheseUndue forward-lookingreliance statementsshould arenot basedbe placed on Management'sforward-looking current views andstatements intentions and are subjectdue to change, known and unknown risks, and uncertainties, many outside AXA's control, which could cause actual results to differ materially ^{p. 8}.

* This press release refers to nonNon-GAAP financial measures, or alternative performance measures ('APMs'), are used by Management for analyzing operating trends, financial performance, and position, and may not be comparable to similarly labeled measures from other companies ^{p. 8}.

* These nonNon-GAAP financial measures generallyshould havenot nobe standardizedconsidered meaningin andisolation mayfrom, notor beas comparablea tosubstitute similarlyfor, labeledthe measuresGroup's consolidated financial statements prepared usedin byaccordance otherwith companiesIFRS ^{p. 8}.

* None"Underlying ofearnings", theseUEPS, non-GAAP"underlying financialreturn measureson shouldequity", be"combined consideredratio", inand isolation"debt from,gearing" orare APMs as adefined substituteby for, the GroupESMA's consolidated financial statementsguidelines and AMF's related notesposition preparedstatement issued in accordance with IFRS2015 ^{p. 8}.

| |-

* Banking revenues were '''EUR 26m''' in 1Q26 and '''EUR 25m''' in 1Q25 ^{p. 9}.

* Portfolio of lifestyle and income protection (CLP) premiums were reallocated from France to Transversal ^{p. 9}.:

** CLP premiums in* 1Q25: were '''EUR 198m,''' (of withwhich '''EUR 68m''' in P&C and '''EUR 130m''' in Life & Health) ^{p. 9}.

** CLP premiums in* 1Q26: were '''EUR 201m,''' (of withwhich '''EUR 68m''' in P&C and '''EUR 132m''' in Life & Health) ^{p. 9}.

*** These premiums were1Q25: '''EUR 319m''' in 1Q25,(of withwhich '''EUR 104m''' in Life and '''EUR 215m''' in Health) ^{p. 9}.

*** These premiums were1Q26: '''EUR 336m''' in 1Q26,(of withwhich '''EUR 103m''' in Life and '''EUR 233m''' in Health) ^{p. 9}.

|+ P&C gross written premiumsCommercial and otherpersonal revenueslines by business line and region. ^{p. 10}

! style="text-align:centerleft" | EUR million

! style="text-align:left" | in Euro million—

! style="text-align:right; width:6em" | Change LFLChangeⁱ

! style="text-align:right; width:6em" | Change LFLChangeⁱ

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|+ ExchangeCurrency exchange rates for various currencies in FY25 and 1Q26. ^{p. 10}

|+ Life & Health grossbusiness writtenby premiumsregion and otherproduct revenues by regiontype. ^{p. 12}

! style="text-align:centerleft" | GrossEUR written premiums & other revenuesmillion

! style="text-align:left" | in Euro million—

! style="text-align:right; width:6em" | Change LFLii

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|+ 1Q25 updated figures for Lifelife &and Healthhealth by regionbusiness. ^{p. 13}

! style="text-align:centerleft" | EUR million

! style="text-align:left" | in Euro million—

| style="text-align:left" | FranceⁱⁱFrance ii,ⁱⁱⁱiii

| style="text-align:left" | EuropeⁱⁱⁱEurope iii

| style="text-align:left" | TransversalⁱⁱTransversal ii

|+ 1H25 updated figures for Lifelife &and Healthhealth by regionbusiness. ^{p. 13}

! style="text-align:centerleft" | EUR million

! colspan="4" style="text-align:center" | HealthⁱHealthᶦ

! colspan="4" style="text-align:center" | TotalⁱTotalᶦ

! style="text-align:left" | in Euro million—

|+ 9M25 updated figures for LifePVEP, &NB HealthCSM, byNBV, regionand NBV margin. ^{p. 13}

! style="text-align:centerleft" | EUR million

| style="text-align:left" | FranceⁱⁱFranceᶦᶦ,ⁱⁱⁱᶦᶦᶦ

| style="text-align:left" | EuropeⁱⁱⁱEuropeᶦᶦᶦ

| style="text-align:left" | TransversalⁱⁱTransversalᶦᶦ

|+ NB1Q25 CSMupdated to NBVfigures for LifeNB andCSM Healthto NBV. ^{p. 13}

! style="text-align:right; width:6em" | HealthⁱHealth i

! style="text-align:right; width:6em" | TotalⁱTotal i

|+ NB1H25 CSMupdated to NBVfigures for LifeNB andCSM Healthto NBV. ^{p. 13}

! style="text-align:right; width:6em" | HealthⁱHealth i

! style="text-align:right; width:6em" | TotalⁱTotal i

|+ NB9M25 CSMupdated to NBVfigures for LifeNB andCSM Healthto NBV. ^{p. 13}

* Changes are compared againstto 1Q25 updated figures, which are based on FY25 financial and actuarial assumptions ^{p. 14}.

|+ Life and Health1Q26 new business metrics for 1Q26life and health by region. ^{p. 14}

! style="text-align:centerleft" | EUR million

! colspan="8" style="text-align:center" | Health iHealthⁱ New Business Metrics 1Q26

! colspan="8" style="text-align:center" | Total iTotalⁱ New Business Metrics 1Q26

! style="text-align:left" | in Euro million—

! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

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! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

! style="text-align:right; width:6em" | Change iiChangeⁱⁱ

| style="text-align:left" | France iiiFranceⁱⁱⁱ,ivⁱᵛ

| style="text-align:left" | Europe ivEuropeⁱᵛ

| style="text-align:left" | Transversal iiiTransversalⁱⁱⁱ

|+ NB CSM to NBV for Lifelife and Healthhealth. ^{p. 14}

|+ Life & Health netNet flows by business line for 1Q25 and 1Q26. ^{p. 15}

* Main transactions in 2026 include the announced execution of aA share repurchase agreement for AXA's share buyback program of up to '''EUR 1.25bn''' was announced on (February 27, 2026) ^{p. 16}.

* Next main investor events are:

*** HY26 Earnings Release (on July 31, 2026) ^{p. 16}.

*** AXA Investor Day (on September 15, 2026) ^{p. 16}.

*** AXA Investor roundtable on the strategy for AXA key markets (on September 21, 2026) ^{p. 16}.

*** 9M26 Activity Indicators (on October 29, 2026) ^{p. 16}.