According to this Armor & Armor Mitigation thread
Ive tested low armor with battleaxe (my armor 4.1k)
battleaxe provide 25% armor mitigation and somehow the result is the same incoming damage, PvE and PvP.
Edit:
Did some research again and noticed sts removed armor mitigation on skull aegis
make sense why the value on aegis same however still broken on battleaxe,
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