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AXA Equitable Holdings, Inc. Announces Closing of Sale of Secondary Common Stock by AXA S.A.

November 13, 2019

NEW YORK--(BUSINESS WIRE)--Nov 13, 2019--

AXA Equitable Holdings, Inc. (the “Company”) announced today that AXA S.A., as selling stockholder (“AXA”), successfully completed a secondary public offering of 144,000,000 shares 1 (the “Offering”) of the Company’s common stock, which included the sale to the Company of 24,000,000 of the 144,000,000 shares (the “Share Buyback”) of the Company’s common stock at the per share price paid by the underwriters in the offering. The Offering represents the largest U.S. bought deal in recent history.

“The completion of this offering signifies a historic moment for our Company and further solidifies our position as one of the largest independent financial services companies in the U.S.,” said Mark Pearson, President and Chief Executive Officer of AXA Equitable Holdings. “Inspired by our founding 160 years ago as The Equitable Life Assurance Society, we remain dedicated to helping our clients secure their financial well-being so they can pursue long and fulfilling lives.”

Mr. Pearson continued: “As the need for our advice and retirement solutions continues to grow, our innovative capabilities, strong capital position, and diligent risk management orientation will enable us to meet the evolving needs of the millions of clients we serve and deliver on our commitments to shareholders over the long-term.”

The Company did not receive any proceeds from the Offering. Following the Offering and the Share Buyback, AXA’s ownership in the Company decreased from 39.1% to 10.1% 2. AXA’s 10.1% ownership includes up to 43,165,624 shares, or approximately 9.3% 2 of the Company’s common stock, subject to adjustment, that AXA would deliver in May 2021 upon exchange of the mandatorily exchangeable securities that AXA issued concurrently with the initial public offering of the Company’s common stock.

Goldman Sachs acted as sole lead-book running manager and underwriter for the Offering.

The Company’s effective registration statement, including a prospectus, relating to the Offering was previously filed with the U.S. Securities and Exchange Commission (the “SEC”). Investors should read the prospectus in that registration statement and other documents the Company has filed with the SEC before investing for more complete information about the Company and the Offering. These documents are available for free by searching for the Company’s public filings on the SEC’s website at www.sec.gov, or by visiting the Company’s website at https://ir.axaequitableholdings.com. Alternatively, copies of the prospectus and prospectus supplement relating to the Offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282 or by calling 1-866-471-2526 or by emailing prospectus-ny@ny.email.gs.com.

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1 Out of 489,329,559 total shares of common stock outstanding as of November 5, 2019.

2 Percentage computations after the Offering are based on approximately 465,329,559 shares outstanding giving effect to 24,000,000 shares sold to the Company in the Share Buyback.

About AXA Equitable Holdings

AXA Equitable Holdings, Inc. (NYSE: EQH) is one of the leading financial services companies in the U.S. and is comprised of two complementary and well-established principal franchises, AXA Equitable Life Insurance Company and AllianceBernstein. We have been helping clients prepare for their financial future since 1859 and have a combined total of approximately 12,200 employees and financial professionals and $701 billion of assets under management (as of 9/30/2019).

View source version on businesswire.com:https://www.businesswire.com/news/home/20191113005847/en/

CONTACT: AXA Equitable Holdings, Inc.

Investor Relations:

Jessica Baehr, +1.212.314.2893

Media Relations:

Matthew Asensio, +1.212.314.2010

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FINANCE CONSULTING BANKING PROFESSIONAL SERVICES INSURANCE

SOURCE: EQH Investor Relations

Copyright Business Wire 2019.

PUB: 11/13/2019 04:05 PM/DISC: 11/13/2019 04:05 PM

http://www.businesswire.com/news/home/20191113005847/en