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AXA Press release Paris , May 4 , 2021 ( 5:45 pm CET ) 1Q21 Activity Indicators ך L • Total revenues¹ + 2 % to Euro 31 billion o / w Preferred segments revenues + 3 % to Euro 20 billion • Net inflows² Euro +2 billion in Life & Savings , Euro +13 billion in Asset Management • Solvency II ratio³ at 208 % , up 8 points vs. FY20 “ AXA's total revenues grew by 2 % in the first quarter , in a context which continued to be marked by Covid- 19 related restrictions " , said Etienne Bouas - Laurent , Group Chief Financial Officer . " This good performance was underpinned by sustained growth in our preferred segments , notably with P & C Commercial lines up 4 % , Health up 5 % , and with continued positive flows and a favorable mix in L & S . " " AXA XL performed well in the quarter , pursuing its underwriting discipline , achieving significant price increases , targeted exposure reductions , and growing revenues by 4 % . AXA Investment Managers also delivered strong performance , with Euro 13 billion net inflows and revenues up 17 % . ” " AXA's balance sheet remains very strong , with a Solvency II ratio of 208 % at the end of March , up 8 points from December . This does not include the positive impacts from the issuance of the subordinated Green bond in April and the expected completion of the AXA Bank Belgium disposal . " " As a leader in the sector on climate and societal topics , AXA issued its first Green bond , has pledged to invest Euro 2 billion in SMEs impacted by the Covid - 19 crisis in France , and will act as chair of the new Net - Zero Insurance Alliance . AXA also announced that it is collaborating with Microsoft to build a digital healthcare platform , enabling a virtual healthcare system that is open to all . " " I would like to thank AXA's employees , agents and partners for their commitment especially in this prolonged challenging context , and our clients for their loyalty and continued trust . " Gross revenues ( in Euro billion ) 1Q20 1Q21 Reported change Comparable change Gross revenues¹ 31.7 30.7 -3 % + 2 % o / w Property & Casualty 18.1 17.4 -4 % + 2 % o / w Health 4.1 4.2 + 3 % + 5 % o / w Life & Savings 9.0 8.6 -4 % 0 % o / w Asset Management 0.3 0.4 + 16 % + 17 % Gross revenues for preferred segments 20.6 19.9 -3 % + 3 % All notes are on page 6 of this document . Page 1