Investor Presentaiton

AXA's business mix largely accounted for under the simplified model Changes in Technical Assumptions CSM Measurement Model Financial Assumptions PAA or Simplified model Optional model for short-term business OCI P&L incl. 99% P&C and short-term Protection and Health Compulsory model for BBA or long-term non-participating business General model → incl. non-participating Protection and Health ☑ OCI CSM Compulsory model for long-term participating business VFA model → incl. G/A Savings, Unit-Linked and participating Protection and Health ☑ CSM CSM Asset Management ca. 5% VFA model ca. 24% BBA model Estimated pre-tax UE¹ ca. 11% PAA model ca. 60% ca. 65% unaffected or with limited impact at transition Discounting of Best Estimate reserves and Risk Adjustment applied to all models PAA 'Premium Allocation Approach' | BBA 'Building Block Approach' also referred to as GMM 'General Measurement Model' | VFA 'Variable Fee Approach' 12 IFRS17 Presentation | November 3, 2022 All notes are on pages 38-41 Back to Agenda AYA

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