AXA Life Insurance Co.,Ltd.

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<h3 class="smt_head2">3 [Dividend Policy]</h3>
<p class="smt_text2" style="line-height:12pt;">Our basic policy is to strengthen the management foundation of our company and group subsidiaries and secure necessary retained earnings for future group business development, while providing stable dividends to shareholders.<br/>
  In implementing dividends, our basic policy is to pay dividends once per year with the reference date being March 31, the fiscal year-end. Regarding the decision-making body for dividends, we have established in our articles of incorporation that dividend distributions may be executed by board of directors resolution without requiring shareholder approval, in accordance with Article 459, Paragraph 1 of the Companies Act.<br/>
　Additionally, we have established in our articles of incorporation that dividends may be paid by board of directors resolution with each quarter-end as the reference date, in accordance with Article 459, Paragraph 1 of the Companies Act. When implementing such dividends, we determine them in consideration of projected annual performance.<br/>
　In the current period, we were able to implement a dividend of 2,170 yen per share.<br/>
  Going forward, our basic approach will be to continue implementing stable dividends, determined by comprehensively considering each fiscal year's performance, financial condition, and future business development.<br/>
　The dividend distribution for the 19th fiscal period is as follows.</p>
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<p class="smt_tblC">Resolution Date</p>
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<p class="smt_tblC">Total Dividend Amount (Millions of Yen)</p>
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<p class="smt_tblC">Dividend per Share (Yen)</p>
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<p class="smt_tblC" style="padding-left:0pt;padding-right:0pt;margin-top:0pt;letter-spacing:0pt;line-height:10pt;">June 12, 2018</p>
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<p class="smt_tblR">20,980</p>
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<p class="smt_tblR">2,690</p>
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<p class="smt_tblC" style="padding-left:9pt;">Board of Directors Resolution</p>
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<p class="smt_text6" style="line-height:12pt;">　</p>

<p>Our basic policy is to secure internal reserves necessary for strengthening our management foundation and business development, while providing stable dividends to shareholders. Dividends are paid once per year as a general rule, with March 31 as the standard date, and are determined by resolution of the Board of Directors. We will implement dividends on a continuous basis, taking into comprehensive consideration each fiscal year's business performance, financial condition, and future business development plans.</p>

AXA Life Insurance Co.,Ltd. (E03845) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)