EURONEXT INVESTOR TOOLBOX

Updated on 29 July 2021

Q2 2021

EURONEXTINVESTOR TOOLBOX

│ 2

7 local markets

France, Belgium, the Netherlands, Ireland, Portugal,

Norway, Italy

€1,364 million

Pro-forma total revenue and income

in 20201)

Optiq®State-of-the-art

proprietary trading platform ensuring seamless

operational continuity during COVID 19 crisis

Delivering the leadingpan-European market

infrastructure

Completed acquisition of the Borsa Italiana

Group1)

20+ countries

Including technology centres, sales office,

matching engines

58.8%

EBITDA margin in 2020

(reported)

Single-order book

Single gateway to the largest liquidity pool

in Europe

70.4%

Cash equity market share in 2020

+2,200

Employees across the world

€9.6 billion

Market capitalization as of 23 July 2021

Let’s grow together2022

Euronext strategic plan for 2019-2022

Financial targets achieved

Continued capital deployment

Acquisition of Nord Pool, VP Securities, 3Sens and

Ticker in 2020

EURONEXT AT A GLANCE

│ 1) Please refer to: https://www.euronext.com/en/investor-relations/financial-calendar/acquisition-borsa-italiana-group

https://www.euronext.com/en/investor-relations/financial-calendar/acquisition-borsa-italiana-group

│ 3│ 1) Please refer to: https://www.euronext.com/en/investor-relations/financial-calendar/acquisition-borsa-italiana-group

EURONEXT’S DEVELOPMENT SINCE 2000

RENEWAL OF CLEARING AGREEMENT AND 11.1% of LCH SA

CARVE-OUTCREATION OF “NEW EURONEXT”

03/2014

06/2014IPO

LAUNCH OF “AGILITY FOR GROWTH”

05/2016

DISPOSAL OF LIFFE

03/20142018

ACQUISITION OF THE IRISH STOCK EXCHANGE2017

ACQUISITION OFOSLO BØRS VPS

2019

LAUNCH OF “LET’S GROW TOGETHER 2022”

10/2019

▪ 2000 – Merger of Amsterdam, Brussels and Paris exchanges

▪ 2001 – IPO

▪ 2002 – Acquisition of Liffe, acquisition of Lisbon exchange

▪ 2003 – Disposal of Clearnet

▪ 2007 – Merger with NYSE Group

▪ 2013 – Acquisition by ICE

ACQUISITION OF NORD POOL

2020

ACQUISITION OF VP SECURITIES

2020

ACQUISITION OF THE BORSA ITALIANA GROUP1

04/2021

https://www.euronext.com/en/investor-relations/financial-calendar/acquisition-borsa-italiana-group

│ 4

EURONEXT: AN OPERATING MODEL, HIGHLY SCALABLE

Euronext regulated markets

Euronext sales office / presence

Listing Equity and debt issuers (large caps, SMEs)

Corporate services Listed & non-listed issuers, corporates

Cash trading

Derivatives trading Brokers, traders and retail & institutional investors

Fixed income trading

Clearing Brokers, traders and retail & institutional investors

Custody & Settlement Banks (Securities services), issuers, retail traders1)

FX trading Brokers, traders and retail & institutional investors

Power trading Utilities & energy companies, traders

Advanced data services Index users, data providers, banks

Investor services Broker dealers, institutional investors

Technology solutions Exchanges, banks

│ Institutional investors including indirect users│ 1) Only for VP Securities in Denmark and VPS in Norway operating on individual account model

│ 5

POWERING CAPITAL MARKETS TO FINANCE THE REAL ECONOMY

▪ Largest equity listing franchise in Europe:

▪ Issuers ranging from local SMEs to global large capitalisation, including family owned business

▪ Strong sectorial expertise including tech, oil & gas, luxury, automotive, fish and shipping industries

▪ Dedicated approach for each issuer profile, including post-listing advisory

▪ Leading European marketplace in agricultural products

▪ Global and European benchmarks for Milling Wheat, Rapeseed and Corn

▪ Developing value added products and services for producers, exporters, trading houses, refiners, processors and manufacturers

▪ Largest corporate debt listing venue globally

▪ Extended debt listing offering with the acquisition of Euronext Dublin

▪ Local expertise attracting global clients

▪ Leading global exchange for price hedging of fish and seafood products Fish Pool

▪ Providing hedging tools allowing producers to invest in operational activities in a longer time perspective

▪ More than 200 registered trade members: fish farmers, exporters, VAP segment and financial investors

│ 1) As of June 2021│ 2) As of June 2021│ 3) Over 2020

>€6.4 tn1

Agg. Market Capitalisation

>52,0002

Listed fixed-income

securities

5x EU3

milling wheatproduction

traded

>65.7k ton3

open position in salmon

│ 6

STRONG FINANCIAL PERFORMANCE SINCE IPO

│ . Proforma the acquisition of the Borsa Italiana Group│ 2) On 22/06/2020, Euronext priced a tap offering of €250 million of notes, rated A- by S&P, on its outstanding June 2029 bond

▪ maturing on 18 April 2025

▪ Coupon: 1%, Re-offer Yield: 1.047%

▪ Oversubscribed 4 times

Inaugural bond€500 million, 7 years

Second bond€750 million2), 10 years

▪ maturing on 12 June 2029

▪ Coupon: 1.125%, Re-offer Yield: 1.219%

▪ Oversubscribed 6 times

EBITDA converted into net operating cash flow since IPONet debt to EBITDA as of June 2021, based on proforma

LTM EBITDA1)

May 2021Senior bond offering for a total amount of €1.8bn

▪ Maturing on 17 May 2026

▪ Coupon: 0.125%


▪ Coupon: 0.750%


▪ Coupon: 1.500%

Tranche 1

5 years

€600 million

Tranche 2

10 years

€600 million

Tranche 3

20 years

€600 million

BBB (outlook stable)

3.1x60%+

│ 7

Italy 34%

France 28%

Netherlands14%

Norway 11%

Denmark 2%Belgium 2%

Portugal 2%Ireland 3%

US 2% Other 2%

Listing14%

Cash trading exc. Fixed

income23%

Fixed income trading6%

Derivatives trading4%FX trading

2%

Power trading2%

Advanced Data Services14%

Investor Services1%

Clearing13%

Custody, Settlement and other post trade

13%

Technology and other

7%

Other income

1%Listing14%

Trading46%

Clearing8%

Custody & Settlement

5%

Technology Solutions &

Other7%


BUSINESS IS TODAY MORE DIVERSIFIED, MORE STABLE AND MORE INTERNATIONAL

France58%Netherlands

27%

Belgium6%

Portugal8%

Other1%

2014 revenue €458m

│ 1) Non-volume related revenue includes Custody & Settlement, Advanced Data Services, Technology Solutions & Other and Listing excluding IPO revenue│ 2) Other includes Finland, UK, Hong Kong│ 3) Pro forma total revenue and income, including the Borsa Italiana Group

Non-volume1)

related revenue

44%

Bu

sin

ess

lines

2)

Geo

grap

hie

s3)

New geographies

0%

2020 Pro forma Revenue €1,364m3)

Non-volume related revenue

c. 49%

New geographies

52%

EURONEXT Q2 2021 RESULTS

│ 8

│ 9Unless stated otherwise, percentages compare Q2 2021 to Q2 2020 dataNon-volume related revenue include Listing exc. IPO, Advanced Data Services, Custody Settlement and other post-trade, NTI from CC&G, Investor Services, Technology Solution, Other Income and Transitional Revenue1) Definition in appendix

Revenue and Income

EBITDA▪ Robust EBITDA margin at 58.7%, despite integration costs▪ EBITDA margin (like-for-like at constant currencies) at

59.2% ▪ VP Securities targeted synergies delivered ahead of schedule

and above expectations

▪ Solid revenue growth, resulting from strong performance in listing and post trade activities and from the consolidation of VP Securities and the Borsa Italiana Group (2 months 2 days)

▪ Revenue grew +3.5% like-for-like at constant currencies

▪ Increase in non-volume related revenue, representing 56% of total revenue and covering 137% of costs excluding D&A

Adjusted EPS1)▪ Adjusted net income up +56.6% to €134.7 million

▪ Reported net income, share of the group, up +5.6% to €86.6 million

▪ Income tax rate at 29.6% due to non-deductible exceptional items

€328.8m+€118.0m

+56.0%

€192.9m+€67.5m

+53.8%

1.43€ +26.8%

Q2 2021 STRONG PERFORMANCE RESULTING FROM ORGANIC GROWTH DRIVEN BY RECORD

LISTING AND POST-TRADE ACTIVITY, AND FROM THE BORSA ITALIANA GROUP ACQUISITION

│ 10

3.3 11.9

22.9 9.6 36.1

83.4 35.8

46.5

1.7

2.2

89.4

112.8

36.1

48.2

Q2 2020 Q2 2021

Listing

Trading

Investor Services

Advanced Data

Services

Post-trade

Net treasuryincome of CC&G

Technology

Solutions& Other revenue

Transitional

revenue and other

income

Q2 2021 REVENUE UP +56.0% DRIVEN BY A ROBUST ORGANIC GROWTH IN LISTING AND POST-

TRADE BUSINESSES AND THE FIRST CONSOLIDATION OF THE BORSA ITALIANA GROUP

‘Organic’ and ‘Like-for-like’ referring to Euronext Group perimeter, at constant currencies, excluding Ticker, 3Sens, VP Securities and the Borsa Italiana Group as well as any project cost supported by Euronext for the integration of these companiesVolume related revenue accounting for trading and clearing activities, excluding NTI from CC&G activities, and IPOs revenueOperating cost coverage equal to non-volume related revenue divided by operating expenses excluding D&AUnless stated otherwise, percentages compare Q2 2021 to Q2 2020 data

Q2 2021 consolidated revenue growth

+56.0%

Borsa Italiana Group consolidated revenue for 2 months and 2 days in Q2 2021

+€89.6m

Non-volume related revenue and income, reflecting post-trade and listing activities

56%

Non-volume related revenue and income to operating cost coverage vs 122% in Q2 2020

137%Non-volume relatedrevenue

Volume relatedrevenue

+29.8%

56%49%

+29.7%

+26.1%

+33.6%

+130.9%

+92.8%

€328.8m

€210.7m

+€118.0m

▪ Revenue grew +3.5% like-for-like

▪ Post-trade revenue growth driven bythe dynamism of VP Securities and VPSand the consolidation of Monte Titoliand CC&G activities

▪ Strong listing growth resulting fromrecord new listings activity, continuedstrong performance of CorporateServices and the consolidation of theBorsa Italiana Group

▪ Advanced Data Services revenuebenefitting from a resilientperformance of the market databusiness and the consolidation of theBorsa Italiana Group

▪ Trading revenue growth resulting fromthe consolidation of Borsa Italiana andMTS trading activities offsetting softervolumes

▪ Contribution of the Borsa ItalianaGroup of €89.6m for 2 months and 2days of consolidation

│ 11

8.7 13.1

4.7

4.3 2.0

3.7 9.3

9.7 3.0

4.6 7.9

10.4

0.4

2.4

Q2 2020 Q2 2021

Equity Annual fees Follow-ons

IPOs Debt

ETFs, Funds & Warrants Corporate Services

Elite and Others

LISTING REVENUE UP +33.6% TO €48.2 MILLION IN Q2 2021

Unless stated otherwise, percentages compare Q2 2021 to Q2 2020 data

Number 1 listing venue in Europe, with 62 listings - Number 1 equity raising venue in Europe

▪ Record activity in equity and ETFs listing and positive traction of ESG bond listing

▪ Continued momentum in primary equity issuances:

– 3 large cap listings: Allfunds, Aramis and Believe

– 8 SPACs

▪ Solid secondary markets activity

▪ Strong performance of Corporate Services with revenue up +31.2%, reflecting continued commercial development and increased demand for its enhanced digital offering solutions

▪ Record listing activity for ETFs

▪ Like-for-like at constant currencies, revenue increased +9.5%

Revenue+33.6%

Corporate Services revenuemoney raisedNew equity listings

€48.2m 62 €444.5bn +31.2%

│ 12

TRADING REVENUE UP +26.1% TO €112.8 MILLION IN Q2 2021 (1/2)

Unless stated otherwise, percentages compare Q2 2021 to Q2 2020 data. Revenue as reported.1) Pro forma ADV for Euronext and Borsa Italiana in Q2 20202) Combined pro forma for Euronext and Borsa Italiana3) Excluding Borsa Italiana

Cash trading▪ Strong revenue capture with an average yield excluding Borsa

Italiana at 0.57bps

▪ Negative comparison base for volumes with an exceptionally volatile Q2 2020

▪ Like-for-like at constant currencies, revenue decreased -6.7%

52%

€70.1mrevenue+8.7%

68.3%3

market share

0.52bpsYield2

proforma

€11.3bn ADV1

-9.2%proforma

€17.3mRevenue

x28

€278bnMTS REPO

TAADV1

-26.3%

€26.5bnMTS CASH

ADV1

+97.0%

▪ MTS Cash revenue at €12.5m, for 2 months and 2 days of consolidation supported by strong Cash volumes (D2D and D2C)

▪ MTS Repo revenue at €3.2m, for 2 months and 2 days of consolidation

▪ In Q2 2021, on a like-for-like basis at constant currencies, MTS Cash revenue grew +52.2% while MTS Repo revenue decreased by -1.6%

▪ Other fixed-income trading including Euronext fixed income, MOT and EuroTLX activities

CASH TRADING

FIXED INCOME TRADING

€960mOther fixed-income

ADV1

-37.7%

€13.1mrevenue+18.3%

€0.28Rev. per lot2

proforma

691k lots Financial derivatives

ADV1

-7.9%proforma

75k lots Commodities

ADV1

+41.3%proforma

▪ Record quarter in commodities products trading, resulting from successful expansion of the franchise

▪ Equity derivatives impacted by low visibility on stock markets

▪ Excluding Borsa Italiana, average revenue per lot was €0.26

▪ Like-for-like at constant currencies, revenue was up +0.6%

DERIVATIVES TRADING

│ 13

TRADING REVENUE UP +26.1% TO €112.8 MILLION IN Q2 2021 (2/2)


Cash trading

▪ Lower trading volumes in a low volatility environment


▪ Lower power trading activity on Nord Pool markets offset by foreign exchange impact


FX TRADING

POWER TRADING

€5.7mrevenue-13.5%

$18.6bn ADV

-9.8%

€6.6mRevenue-0.4%

2.17TWh day-ahead

ADV-6.3%

0.07TWhintraday

ADV

+10.2%

│ 14

POST-TRADE REVENUE, INCLUDING NET TREASURY INCOME, UP +157.4% TO €93.0 MILLION IN Q2

2021

Unless stated otherwise, percentages compare Q2 2021 to Q2 2020 data1) Pro forma basis for the full Q2 2021, compared to pro forma for the full Q2 2020

Consolidation of VP Securities, high retail activity in Nordic CSDs and first consolidation of CC&G

Cash trading

▪ Total clearing revenue: €26.6m, +70.6%

▪ CC&G consolidated since 29 April 2021 (2 months and 2 days). Full Q2 2021 revenue stable compared to Q2 2020

▪ LCH SA clearing revenue supported by higher treasury income and higher commodities derivatives cleared

▪ Net treasury income through CCP business of CC&G at €9.6m


52%

▪ Contribution of VP Securities of €19.4 million in Q2 2021

▪ Contribution of Monte Titoli of €13.5 million for 2 months and 2 days of consolidation


CLEARING

CUSTODY, SETTLEMENT AND OTHER POST-TRADE

in €m

€18.8mClearing revenue

+20.6%

€7.8mClearing revenue

CC&G

LCH SA

1.0 3.0 1.4 2.4 Q2 2021

Derivatives Equities Bonds Other

€6.3tnAssets under

custody

33.1mSettlement

instructions1

+11.8%

€56.8mRevenue

+176.8%

│ 15

ADVANCED DATA SERVICES, INVESTOR SERVICES AND TECHNOLOGY SOLUTIONS


Cash trading

▪ Continued commercial development of the franchise


52%

▪ Consolidation of the Borsa Italiana Group technology businesses

▪ Higher SFTI / Colocation revenue


INVESTOR SERVICES

TECHNOLOGY SOLUTIONS

+€0.5mrevenue+29.8%


in €m

in €m

Cash trading

▪ Consolidation of the Borsa Italiana Group data activities and robust market data business


ADVANCED DATA SERVICES


in €m

35.8

46.5

Q2 2020

Q2 2021

11.9

22.9

Q2 2020

Q2 2021

1.7

2.2

Q2 2020

Q2 2021

│ 16

Consolidation of acquisitions and organic growth

Unless stated otherwise, percentages and variation compare Q2 2021 consolidated data to Q2 20201) at constant currencies

Q2 2021 EBITDA UP +53.8% TO €192.9 MILLION

59.2%Like for like1)

EBITDA margin

58.7%EBITDA margin

-0.8pts

in €m

125.4

192.9

7.5

89.6

20.0

1.3

Reported EBITDA Q2 2020

Revenue from rest of change

of scope

Revenue at constant perimeter

Revenue from the Borsa

Italiana Group

-46.4

Costs from change of

scope

FX impact

-4.5

Costs at constant perimeter

Reported EBITDA Q2 2021

+53.8%

▪ Staff costs ▪ System & Communications▪ Professional Services

▪ Borsa Italiana Group (acquired)

▪ Ticker (acquired)

▪ 3Sens (acquired)

▪ VP Securities (acquired)

▪ Centevo (disposed)

▪ OMS (disposed)+2.4%

Like for like1)

EBITDA growth

│ 17

67.5

Net financing income / expense

-0.782.1

EBITDA

-16.9

-9.2

Income tax Share of non controlling

interest

Q2 2021 reported

net income

0.0-10.5

Exceptional items

-25.6

D&A

86.6

Results from equity investments

Q2 2020 reported

net income

+5.6%

1) Definition in appendixUnless stated otherwise, percentages compare Q2 2021 consolidated data to Q2 2020

Q2 2021 NET INCOME UP +5.6% TO €86.6 MILLION, ADJUSTED EPS UP +26.8% TO €1.43 PER

SHARE

€1.43Adjusted EPS1)

+26.8%

€134.7mAdjusted

Net Income1)

in €m

▪ Announced exceptional costs related to the acquisition of the BorsaItaliana Group

▪ Announced costs related to the financing of the BorsaItaliana Group and new bonds issuance

▪ Borsa ItalianaGroup D&A and PPA

▪ Impact of non-deductible exceptional items

│ 181) Based on LTM proforma EBITDA including the Borsa Italiana Group, VP SecuritiesUnless stated otherwise, percentages compare Q2 2021 to Q2 2020 data

CASH FLOW GENERATION AND LIQUIDITY POSITION

▪ Q2 2021 EBITDA to net operating cash flow conversion rate impacted by:

▪ Clearing activities of Nord Pool and CC&G negatively impacting changes in workingcapital

▪ Higher income tax paid due tax paid in Italy for the full first semester and higher tax paid due to higher tax income in 2020

▪ Net debt to EBITDA1) ratio at 3.1x(vs 1.0x in Q1 2021)

▪ Weighted average life to maturity of 9.5 years

in €m

in €m

1,285

3,133

526

2,512

Q1 2021 Q2 2021

Gross Net

DEBT AND LEVERAGE

CASHFLOW GENERATION

125.4

192.9 192.9

80.6

-1.3

61.3

Q2 2020 Q2 2021 Q2 2021

Excl. Clearing activities

of Nord Pool and CC&G

EBITDA

Net operating

cash flow

│ 19

▪ Private placement▪ Rights issue

LIQUIDITY

€400 mTargeted cash for operation

in €m

▪ Bridge loan facility▪ Newly issued debt

▪ Repayment bridge loan facility

759.2620.5

1,220.5

14.5 11.3 3.4 10.1 159.7

12.9

600.0

Net interest paid

(Acquisition, net of cash) / Proceed of subsidiaries

Share capital

repayment

3,682.9

Dividends received

Repayment of

borrowings, net of

transaction fees

Undrawn RCF

Dividends paid

4,124.6

Capex Liquidity in Q2 2021

Cash in Q2 2021

Net operating cash flow

1.3

(Purchase) / Redemption of current financial assets

Cash in Q1 2021

5,472.8

Proceeds from

borrowings, net of

transaction fees

FX impacts and others

2,373.4

‘LET’S GROW TOGETHER 2022’ EURONEXT STRATEGIC PLAN

│ 20

│ 21

LEVERAGING EURONEXT’S UNIQUE FEDERAL MODEL, CREATING A SUSTAINABLE COMPETITIVE ADVANTAGE

▪ Strong links with local regulators and efficient dialogue and coordination with the College of Regulators

▪ Ability to attract single-country exchanges to join the federal model thanks to decentralised model and strong integration track record

▪ Large investor customer base, especially in Europe, from generalists to specialists, with a strong focus on ESG

▪ Simplicity of access to European markets: single pool of liquidity, single best-in-class trading platform, single rule-book, single regulatory framework

▪ Proximity to local clients and best positioned to meet their needs

▪ Diversity of flows: global mega-flows meet local and retail flows from 6 countries

▪ 7 local markets, each with a group-wide responsibility

▪ Attractive workplace with local and global career opportunities

Paris

Porto

Lisbon

Dublin

London

MunichZurich

Amsterdam

Brussels

Milan

Madrid

Stockholm

Oslo

Euronext regulated marketsEuronext sales office / presence

HelsinkiBergen

Vilnius

Tallinn

Berlin

Copenhagen

│ 22

BUILDING ON STRONG ASSETS TO DELIVER FUTURE GROWTH

Strong listing franchise with sectorial expertise, local footprint and leading global position

Strong national and ESG indices

Comprehensive suite of Corporate and Investors Services

Cutting-edge proprietary technology platform Optiq®

Expertise in liquidity and yield management to remain the reference market with the deepest liquidity pool

Culture of efficiency

Agile capital deployment, flexibility

Premium level performance, increased stability and scalability

#1 listing venue in Europe, #1 exchange for SMEs in Europe, #1 venue globally for debt and funds listings

Home of the CAC 40, AEX-Index, BEL 20, PSI 20, ISEQ 20, OBX and Low Carbon 100 Europe

Governance, communication, compliance, advisory & investors relation solutions

Largest liquidity pool as #1 cash trading venue in Europe

Lean organisation and continuous efforts to improve assets utilisation

€5+ billion capital deployed supported by long-term financing

│ 23

Connect local economies to global capital markets, to accelerate innovation and sustainable growth

Build the leading pan-European market infrastructure

Our ambition

Our mission

│ 24

LET’S GROW TOGETHER 2022: EURONEXT STRATEGIC PLAN TO FULFILL ITS AMBITION

ENABLE SUSTAINABLE

FINANCE

DIVERSIFY LOCAL AND

GLOBAL INFRASTRUCTURES

DELIVER OPERATIONAL

EXCELLENCE

EMPOWER PEOPLE TO

GROW, PERFORM AND

INNOVATE

EXECUTE VALUE-CREATIVE

M&A PROGRAMME

ENHANCE CLIENT

CONNECTIVITY

BUILD THE LEADING PAN-EUROPEAN MARKET INFRASTRUCTURE

│ 25

INNOVATION IS AT THE HEART OF EURONEXT’S 2022 STRATEGY

Accelerate business innovation,

leveraging latest technologies

▪ Tokenisation to capture alternative

financing opportunities

▪ Bespoke trading models leveraging

new data approach

▪ Artificial intelligence to address new

data needs and opportunities

Further enrich Euronext’s core

technology capabilities:

▪ Continue building modular layers on

top of Optiq® core central order book

▪ Further deployment of cloud

▪ Fully functional distributed ledger

technology stack

Leverage digitalisation for operational

innovation, enhanced client experience

and deeper client relationships and

analytics

Empower all staff to innovate

leveraging innovative methodologies

such as design thinking and sharing

know-how across the whole group,

including key learnings from recently

acquired companies

Deepen co-operation with clients,

consistently with the Client Centricity

Programme

│ 26

ACCESS TO EURONEXT’S ECOSYSTEM THROUGH OPTIQ® DELIVERS TANGIBLE BENEFITS

Euronext Dublin Oslo Børs

+22.5%Active members

Strong local footprint retained

Optiq® platformSingle order book across

Euronext’s marketsLargest liquidity pool in

Europe

x2Market members

Increased market shareon dual listed stocks

~+14 pts of additional market sharethe year after migration1)

│ 1) Average of the last 15 trading days of 2019 vs the first 15 trading days of 2019

OUR ESG STRATEGY

│ 28

LET’S GROW TOGETHER 2022: ACCELERATING THE TRANSITION TOWARDS SUSTAINABLE FINANCE

Driving investment in innovative, sustainable products and services through secure and transparent markets, in continuous dialogue between the players of the financial community

Inspiring and promoting tangible sustainable practiceswithin the company and towards our communities, by respecting and developing our people and by supporting our ecosystem

Impact areasEuronext has a special position in the financial ecosystem. It serves the real economy by bringing together buyers and sellers in high integrity trading venues that are transparent, efficient and reliable. In this key role, Euronext has a responsibility vis-à-vis the whole finance community to contribute to the financial stability and the sustainable agenda in the countries in which it operates.

│ 29

LET’S GROW TOGETHER 2022: A CLEAR ROADMAP ALIGNED WITH THE UNITED NATIONS’ SUSTAINABLE DEVELOPMENT GOALS

▪ Organise a trusted, fair, transparent and efficient market, thereby enhancing access to capital

▪ Promote and develop sustainableand innovative products

▪ Act ethically, with integrity and the highest standards in terms of good governance

▪ Educate and engage with local communities

▪ Foster Issuer-Investor dialogue

▪ Maintain an ongoing dialogue with multi-stakeholder partnerships

▪ Educate partners on financial literacyand regulations

▪ Develop skills and retain talents in an open culture of dialogue

▪ Promote diversity▪ Promote human

rights

▪ Reduce our owncarbon footprintand contribute to the protection of the environment

│ 30

ESG | EMPOWERING SUSTAINABLE GROWTH

▪ Introducing the new Euronext ESG 80 index and derivatives and the CAC

▪ Aligning Europe’s leading Low Carbon 100 index to the Paris Agreement

▪ Expanding Euronext ESG bonds offering to other ESG bonds: Sustainability, Social, Sustainability-Linked and Blue

▪ Launching new ESG services and solutions for listed companies

▪ ESG advisory

▪ Virtual roadshow

▪ Digital corporate governance

Launch of a new suite of ESG-focused products, services and initiatives

ESG | Empowering Sustainable Growth

▪ Official Supporter of the UN Sustainable Stock Exchange initiative since 2015

▪ 1st exchange to sign the nine Ocean Principles with the ambition to take a leading role in advancing the Blue Economy

▪ Endorsed the Task Force on Climate-related Financial Disclosure recommendations in 2018

▪ Engaged with the United Nations Global Compact Sustainable Oceans Business Group since 2019 and set up United Nations Blue Bond principles in April 2020

Endorsing the UN Global Compact’s Ocean principles

│ 30

│ 31│ 1) Federation of European Securities Exchanges│ 2) Source: Euronext Registration Document – 2019 – AUM: assets under management

A STRONG SUITE OF ESG PRODUCTS AND SERVICES TO ACCELERATE SUSTAINABLE INVESTMENT

2019 2020 Q1 2021

Launch of strategic plan Let’s Grow Together 2022

ESG Large 80 European Benchmark Index and Futures

ESG Bond offering #1 ESG bonds listing venue (€112 bn); Global ESG Bond issuing: €431.70;

ESG ETF offering 107 ESG ETFs listed, €36.7 bn AUM2

ESG Index offering 88 ESG indices2

Launching of the ESG reporting GuidelinesWorking with FESE1

on a common European standard

Euronext ESG Bonds platformFrom Green Bonds to ESG Bonds to include social, blue and sustainable bonds

Cleantech franchise64 cleantech companies listed on Euronext2

CAC 40 ESG Indexfirst local ESG benchmark

ESG Corporate ServicesESG Advisory SolutionsVirtual Roadshow

Euronext signs the UNGC Sustainable Ocean Principles

Euronext contributes to the UNGC Blue Bond Reference Paper

Blue Challengepan-European financial literacy programme

#1 index providerFor ESG products in EuropeOver 300 listed structured products linked to Euronext SSG indices

│ 32

BOLSTERING THE BLUE ECONOMY

Conserve and sustainably use the oceans, seas and marine resources for sustainable development

Euronext: a European player connected to the ocean

Euronext countries share:

▪ Tradition of fishing and shipping

▪ Leading ports with global position

▪ History of seafaring

▪ Current coastal and marine tourism

▪ Committed to limit climate change, protect biodiversity and fight water pollution

Developing a community action plan supporting the Blue Economy within the UN framework

▪ Official Supporter of the UN Sustainable Stock Exchange initiative since 2015.

▪ Endorsed the Task Force on Climate-related Financial Disclosure recommendations in 2018.

▪ Engaged with the UN Global Compact Sustainable Oceans Business Group since 2019.

▪ Set up UN Blue Bond principles in April 2020.

▪ Available on the new Euronext ESG Bonds offering.

▪ Adhered to the UN Global Compact Principles and the nine Ocean Principles in June 2020.

Paris

Porto

Lisbon

Dublin

London

MunichZurich

Amsterdam

Brussels

Milan

Madrid

Stockholm

Oslo

Euronext regulated markets

Euronext sales office / presence

HelsinkiBergen

Vilnius

Tallinn

Berlin

Copenhagen

EXPANSION STRATEGY

│ 34

EURONEXT CAPITAL ALLOCATION STRATEGY

RIGOROUS CAPITAL ALLOCATION POLICY

▪ Investment criteria: ROCE > WACC in year 3 to 5

▪ Optimised leverage with credit floor rating ≥ Investment grade

Corporate Services

Develop new growth and diversification initiatives

Transformational deals

FX stack

Index & data franchise

Investor services

New asset classes

Post trade solutions

Diversification of the revenue base

Expansion of the federal model

Take recent successes to the next level

│ 35

DISCIPLINED CAPITAL DEPLOYMENT TO SUPPORT EURONEXT’S EXPANSION STRATEGY

▪ Acquisition of 51% ▪ Comprehensive range of webcast,

webinar and conference call services for Investor Relations and corporate events

▪ 100% ownership▪ Dematerialized board portal solution and

decision making tool for corporates and public organisations

▪ Acquisition of 80%▪ Management of insider lists

▪ Launch of a European Tech SME initiative beyond core domestic markets, opening offices in four new countries – Germany, Italy, Spain and Switzerland –

▪ Acquisition of 78%▪ Research and commission management for

buy side/sell side

▪ 11.1% stake in LCH SA▪ 10-year agreement for the clearing of

derivatives products

▪ European post-trading blockchain infrastructure for the Small and Medium Enterprise (SME) market

▪ Acquisition of 100% of the shares▪ Expansion of Euronext federal

model and debt franchise

▪ Acquisition of 100% of the shares▪ Expansion of Euronext federal

model and post trade franchise

▪ Acquisition of a 23.5% stake▪ Compliant tokenisation platform

▪ Acquisition of a 60% stake▪ Leading fund data provider

LIQUIDSHARE

Closed in March 2018 Closed in June 2019 June 2019 July 2019

December 2017 January 2020

POST-TRADE DEVELOPMENT NEW ASSET CLASS

February 2017 July 2017 January 2018 December 2018September 2017

European Tech SMEs initiative

▪ Fastest growing electronic communication network in the spot FX market

▪ Acquisition of a 90% stake

August 2017

▪ Second largest power market in Europe▪ Acquisition of 66% of Nord Pool’s share capital

July 2017

▪ Danish domestic CSD▪ Expansion of Euronext federal model

and post trade franchise

Closed in August 2020

NEW SERVICES

EXPANSION OF THE FEDERAL MODEL INNOVATION SOLUTIONS

▪ Acquisition of the Borsa Italiana Group▪ Creation of the largest listing and

equities trading venue in Europe▪ Expansion of the post trade franchise

with CC&G, the group clearing house

Completed on 29 April 2021

Since its IPO in 2014, Euronext has continuously deployed capital in a disciplined way to enter into new geographies,new asset classes as well as expand its successful federal model

EXPANSION IN THE NORDIC REGION

│ 36

│ 37

CONTINUED SUCCESSFUL EXPANSION IN THE NORDIC REGION

€850m+Capital deployed in the

Nordic region since 2019

Paris

AmsterdamLondon

Dublin

Lisbon

Porto Madrid

Brussels

Milan

Zurich

Munich

Oslo

Bergen

Stockholm

Helsinki

Tallinn

VilniusBerlin

Copenhagen


VP Securities

│ 37

+2 CSDsStrengthening the post-

trade business

VP Securities

▪ Significant expansion of Euronext’s footprint inthe Nordic region, following acquisitions of OsloBørs VPS and Nord Pool

▪ Doubling of Euronext’s CSD business size,further improving Euronext’s revenue mix andincreasing the share of non-volume relatedrevenue

Nord Pool

▪ Diversifying Euronext revenue mix to new assetclasses not correlated with financial marketcycles

▪ Strengthening Euronext commodity franchiseby leveraging Nord Pool’s leadership positionand know-how in physical power markets

Oslo Børs VPS

▪ Develop the strong brand and franchisecapacity of Oslo Børs

▪ Leveraging Euronext’s capabilities forNorwegian ecosystem

▪ Use Oslo Børs VPS as the group launchpad forexpansion in the Nordic region

+1 asset classwith the expansion into

power trading

│ 38

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A UNIQUE TRACK RECORD IN BUILDING OPERATING LEVERAGE AND EXTRACTING SYNERGIES

ACHIEVED OBJECTIVES

Euronext Dublin

AcquisitionsSelf-efficiency programmes Acquisitions

Targ

ets

Ach

ieve

d

€85 million ▪ Delivered 1 year in

advance▪ 140% of targeted

savings ▪ 30% of the current

Group cost base

€24 million▪ Delivered 1 year in


savings

€8 million ▪ Delivered 1 year in


synergies▪ 40% of Euronext

Dublin costs base

€13.8 millionAs of 31 March 2021

▪ 115% of 2022 targeted synergies achieved 1 year in advance

€7.6 millionAs of 30 June 2021

▪ c. 109% of 2023 targeted synergies already achieved 11 months after completion

€6 million(1)

c. €131 million efficiencies delivered since IPO in June 2014

2014-2016

€60 million

2016-2018

€22 million

Oslo Børs VPS

€12 million(1)

VP Securities

€7 million(2)

│ 1) Run-rate cost synergies│ 2) Run-rate cash cost synergies│ 3) Amounting to €420.4 million

Euronext expects its operating costs excluding D&A to decrease by a mid-single digit in 2021, compared to the annualised 2020 fourth quarter operating costs excluding D&A3), on the perimeter excl. the Borsa Italiana Group

ACQUISITION OF THE BORSA ITALIANA GROUP

│ 39

│ 40

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│ Figures for pre-trade and post-trade are as at 31 December 2020, trading volumes over 2020│ 1) Of which Term Adjusted Average Daily Volume of MTS Repo (excluding reported deals) equals to €200.5bn.

STRENGTHENED BUSINESS POSITION AND ENHANCED VALUE PROPOSITION

Listing Cash equities ETFs Fixed income(1) Clearing CSD

c. €5.1tn in combined market capitalisation

#1 cash equities trading venue in Europe

#2 ETF trading venue in Europe

Leading fixed-income trading venue in Europe

Multi-asset, and sizeable clearing offering

Large network of CSDs across Europe

Pre-trade Trading Post-trade

Listed companies Average daily traded value (in €bn)

Average daily traded value (in €m)

Average daily traded value (in €bn)

Repo cleared(in €tn)

Assets under custody(in €tn)

377

1,493

1,870

2020YE FY2020 FY2020 FY2020 FY2020 2020YE

The Borsa Italiana GroupEuronext

Equity derivatives

Reinforces derivatives trading franchise

Average daily volume (in lots)

2.4

8.8

11.2

518

500

1,018

3.5

2.5

5.9

FY2020

98

612

710

215.8

0.4

216.2

18.4

18.4

│ 41

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│ 1) Combined Average Daily Volume for FY2020│ 2) As of March 2021│ 3) Combined Assets under Custody as of YE2020│ 4) In Europe by aggregated average daily traded value and market capitalisation

TRANSFORMATIONAL COMBINATION FOR BOTH GROUPS

Reinforces

− Creates the largest cash equities & ETFs liquidity pool in Europe with €12.2 billion ADV(1)

− 1,890 companies listed and €5.6trn combined market cap(2)

− More than doubles scale of CSD franchise with €5.9 trillion of assets under custody(3)

equities

CSDs

− Leading European fixed income trading platform

− Complements Euronext’s leading bond listing business

− Potential to roll-out across Euronext markets

− Leading multi-asset clearing house

− Completes Euronext’s post-trade value chain

+

+

Diversifies

Increases scale and opens new opportunities in each business segment

Fixed income platform

European scale provider of vertically integrated post trade services

Equity trading &listing venue(4)#1

#1

− Cross-selling of complementary services across the value chain

− Product innovation

− Access to enhanced data sets

− Scaled platform for further consolidation and diversification

Organic growth M&A

✓

✓

│ 42

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35%

65%

│ 1) Total revenue and income for the financial year ended 31 December 2020, based on unaudited pro forma financial information

│ 2) On run-rate pre-tax basis

│ 3) EPS adjusted for PPA, exceptional items and tax related to those items

│ 4) The combined pro forma net debt of the Combined Group divided by the combined pro forma EBITDA of the Combined Group

FINANCIALLY COMPELLING TRANSACTION FOR EURONEXT SHAREHOLDERS

Reinforced financial profile

Mid-single digit adjusted EPS accretion before synergies and double digit accretion after run-rate synergies expected in year 3(3)

EPS accretion

Run-rate synergies of €60m in year 3(2)

▪ €45m cost synergies

▪ €15m revenue synergies

Additional unquantified opportunities

Synergies

31 December 2020 pro forma net leverage4) of 3.2x

Deleveraging to below 3.0x Net Debt / EBITDA expected by 2022YE

Deleveraging and rating

Maintained at 50% of reported net income

Dividend policy

35% of pro forma 2020 revenue

35% of pro forma 2020 EBITDA

35%

65%

35%

65%

35% of pro forma 2020 adjusted net income

58%Pro forma 2020 EBITDA margin (pre-synergies)

€1.4bn

Revenue(1)

2020PF

€790m

EBITDA2020PF

€498m

Adj. Net income

2020PF

The Borsa Italiana GroupEuronext

│ 43

Italy 34%

France 28%

Netherlands14%

Norway 11%

Denmark 2%Belgium 2%

Portugal 2%Ireland 3%

US 2%Other 2%

€884m €1,364m

Euronext FY2020 revenue1) Combined Group FY2020 revenue2)

ITALY REPRESENT 34% OF THE COMBINED GROUP REVENUE AND FURTHER EXPAND EURONEXT’S FOOTPRINT

Italy become largest contributor of the combined

group, contributing 34% of combined Group revenue

3%

2%

2%

14%

34%

11%

2%

28%

Presence since 2019

Presence since 2018

Other countries include Sweden, Finland, UK, Hong Kong. |1) Euronext and the Borsa Italiana Group 2020 financial information based on their respective accounting policies and not prepared on a pro-forma basis. Euronext 2020 information including the full-year pro forma impact of the previous acquisition of Oslo Børs VPS, Nord Pool, VP Securities, OPCVM 360, Ticker and Troisième Sens.

Presence since 2020


│ 43│ 43

France 42%

Netherlands 21%

Norway 17%

Denmark 3%

Belgium 4%Portugal 4%

Ireland 4%US 3% Other 2%

│ 44

Listing14%

Cash trading exc. Fixed income

23%

Fixed income trading6%

Derivatives trading4%FX trading

2%Power trading

2%

Advanced Data Services

14%

Investor Services1%

Clearing13%


13%

Technology and other7%

Other income1%

Listing16%

Cash trading exc. Fixed income

29%

Fixed income trading0.3%

Derivatives trading6%

FX trading3%

Power trading3%


Investor Services1%

Clearing8%


12%

Technology and other6%

Other income0%

SIGNIFICANT DIVERSIFICATION OF EURONEXT’S BUSINESS MIX WITH FIXED INCOME TRADING, CLEARING AND CSD CONSOLIDATION

€884m €1,364m

EURONEXTFY 2020 REVENUES

FY2020 PRO FORMA TOTAL REVENUE AND INCOME

Trading37%

Post Trade26%

Revenue breakdown for the Combined Group provided in this slide according to Euronext disclosure.

✓ Diversification of the revenue mix

✓ Expansion to new asset class: Fixed income trading

✓ Strengthened post trade business

Trading41%

Post Trade20%

│ 45

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17 members representing 8 nationalities

10 members representing 8 nationalities, including 3 representatives of Reference Shareholders and 7 independents

The 7 national regulators of the regulated equity markets in which Euronext operates

│ 1) La Société Fédérale de Participations et d'Investissement, Belgian Federal Holding and Investment Company│ 2) Appointment subject to regulatory approval│ 3) Appointment subject to shareholder and regulatory approval│ 4) Following completion of the private placement and of the rights issue│ 5) Subject to certain exceptions – Refer to Euronext 2020 Universal Registration Document

Caisse des Dépôts et Consignations 7.3%

CDP Equity 7.3%

Euroclear 5.6%

SFPI-FPIM(1) 3.2%

Intesa Sanpaolo 1.5%

ABN Amro Bank 0.5%

Reference Shareholders(% ownership)

Reference Shareholders: 25.4%4)

SupervisoryBoard

ExtendedManaging Board

College of Regulators

▪ Piero Novelli independent Chair of the Supervisory Board

▪ Alessandra Ferone as representative of CDP Equity(2)

▪ Borsa Italiana CEO on Managing Board(3)

▪ MTS CEO on Extended Managing Board

▪ Consob to be invited to join College of Regulators

▪ CDP Equity and Intesa Sanpaolo reference shareholders since closing of the Borsa Italiana group transaction

▪ Reference shareholders agreement renewed with lock-up period for next three years5)

EVOLUTION OF GOVERNANCE IN LINE WITH EURONEXT’S FEDERAL MODEL

+

+

+

EURONEXT BUSINESSES

│ 47

Premium level performance▪ Leverage state-of-the-art technology to ensure reliability, enhanced

throughput and predictable latency

99.99%

15µs

Unlimitedscalability

Stability on equities

Latency, compared to 132µs on UTP

Asset-classes agnostic

DEVELOPING OPTIQ®, THE NEW GENERATION TRADING PLATFORM

Increased stability▪ Enhanced efficiency and performance through improved connectivity and

protocols, and optimised messaging model

Flexibility▪ Provide customers with a simplified and flexible system allowing better time-

to-market to deliver new initiatives and implement customers’ requests

Enhancing Euronext markets for its clients and partners▪ Trading Members on Euronext Cash and Derivatives markets

▪ Technology providers offering software and access to Euronext markets

▪ Data vendors and clients consuming Euronext Market data

▪ Successful migration of Euronext Dublin market to Optiq®

Highly reliable and scalable platform to cope with further expansion and volatility

Migration timeline▪ July 2017: migration from XDP to Market

Data Gateway▪ April – June 2018: Euronext Cash markets

on Optiq®▪ February 2019: Euronext Dublin on

Optiq®▪ December 2019 – Euronext Derivatives

markets on Optiq®▪ December 2020 – Oslo Børs on Optiq®

│ 48│ As of December 2020

A STRONG AND DIVERSIFIED COMPANY: LISTING

Revenue model

▪ Initial admission fees based on market cap. / money raised, fees on money raised for follow-ons (both capped)

▪ Annual fees based on market cap. / outstanding securities (both capped)▪ Subscription based Corporate Services offering

Accelerate the growth of issuers by leveraging strong sectorial expertise and innovation▪ Leverage its leadership in listing to expand its sectoral, Tech and SME expertises▪ Attract even more international issuers▪ Be positioned upstream in the IPO process to accompany entrepreneurs and corporate leaders while getting closer to

private equity players to become the preferred exit strategy

Taking success in Corporate Services to the next level▪ Develop ESG educational materials for listed and non-listed companies ▪ Develop its innovation and sustainable offering in Corporate Services to better meet the needs of its clients.▪ Expand internationally and grow in all segments

Leverage global position in debt, funds and ETFs and develop ancillary services▪ Launch the trading of Euronext Dublin listed bonds▪ Expand ancillary services ▪ Expand its leading green bond offering with a dedicated listing segment

€1.2 trilliontotal money raised over 2020

>50,000 equity and debt

securities listed

2,500+Corporates Services clients

#1 European listing venue for Tech companies

LISTING ACTIVITY DRIVEN BY MONEY RAISED, NEW SERVICES AND FRANCH ISE EXPANSION

Largest equity issuers pool in Europe

€187m, 2020 pro-forma revenue

94% non-volume related

14% of total Group revenue

│ 491) As of December 2020, excluding Borsa Italiana2) Pro forma Borsa Italiana, over 2020

A STRONG AND DIVERSIFIED COMPANY: CASH TRADING

Revenue model

▪ Transaction-based fees charged per executed order and based on value traded

Capitalise on federal model

▪ Prioritise ‘natural’ flow: retail and institutional

▪ Develop services for local brokers and buy- sides in each market

Leverage the value chain

▪ Maximize touch points with buying centers

▪ Reach more end clients with tailored fee schemes and service offers

▪ Create alignment and partnership with global banks

Expand market models

▪ Euronext’s core franchise to remain lit, including some traditional multilateral markets

▪ Study the extension to other models

7 local markets

180+ cash equity trading members 1

€11.2bn cash equities ADV2

65%+ market share on cash equity trading

THE MARKET OF REFERENCE FOR LIT CASH EQUITY TRADING




│ 50│ 1) In 2019

A STRONG AND DIVERSIFIED COMPANY: DERIVATIVES TRADING

Revenue model

▪ Transaction fee charged per lot traded

Financial derivatives

▪ Strengthen the core franchise, improving client experience with Optiq® for Derivatives and optimizing pricing and market making schemes

▪ Diversify the offering, by developing pan-European options, growing products aiming at generating clearing efficiencies and securing retail flow with competitive market structure

Commodities

▪ Focus on the core commodities franchise, allowing for new products and extended delivery network

▪ Intensify the client approach by targeting new geographies and expanding outside of core customers

▪ Diversify the product offering outside of agricultural products, integration Oslo Børs commodity products, developing cash settled products and the launch of Paris Real Estate futures

CAC 40® contractthe second most traded national

index future in Europe

684k ADV on Euronext over 2020, in lots

5x EU milling wheat production traded

Benchmark agricultural contracts

EURONEXT DERIVATIVES MARKETS: A LEADING PAN -EUROPEAN TRADING VENUE




│ 51

FIXED INCOME TRADING

Revenue diversification▪ #1 European Government Bond electronic trading platform▪ Cash Dealer to Dealer and Dealer to Client, repo Dealer to Dealer▪ Provide the Group with a strong fixed income trading offering▪ Complements Euronext’s leading bond listing business▪ Potential to roll-out across Euronext markets

Exposure to new growth drivers▪ Monetary policy supporting accelerated debt issuance▪ Buy side▪ Electronification▪ Regulation▪ Potential to expand across Euronext geographies

THE LEADING EUROPEAN FIXED INCOME PLATFORM

│ 1) Of which Term Adjusted Average Daily Volume of MTS Repo (excluding reported deals) equals to €200.5 billion│ MTS joined Euronext group as of 29 April 2021

fixed income ADV1

€216bn

European government bonds trading platform in Europe (D2D)

#1

Repo trading platform in Italy#1

largest fixed income market in Europe for European government bonds (D2C)

#3

Revenue model

▪ Transaction-based fees




│ 52

A STRONG AND DIVERSIFIED COMPANY: FX TRADING

Revenue model

▪ Transaction-based fees charged per executed order and based on value traded

Diversification opportunities

▪ Launch derivatives products

▪ Go-live for Singapore matching engine

▪ Expand market data offering

▪ Capitalise on leading technology solution

Continued consolidation of core FX trading platform

▪ Accelerate growth in client acquisition

▪ Client base diversification with increased participation from buy-side, broker-dealers and regional banks

#1 FX pure spot venue globally

$21.4 billiontraded daily over 2020

€26.4 millionrevenue in 2020

4 matching enginesin Singapore, New-York,

London and Tokyo

NEW ENTRANTS AS EURONEXT FX DISPLACING TRADITIONAL PLAYERS - CONTINUED SHIFT TO ECNS FROM DIRECT PLATFORMS




│ 53

A STRONG AND DIVERSIFIED COMPANY: POWER TRADING

Revenue model

▪ Transaction-based fees

Diversification opportunities

▪ Strengthening Euronext commodity franchise by leveraging Nord Pool’s leadership position and know-how in physical power markets

▪ Nord Pool will benefit from Euronext’s extended footprint and commercial efforts in continental Europe to expand the reach of its leading technology

Continued expansion of Euronext Nordic footprint

▪ Nord Pool is the second largest power market in Europe, offering trading, clearing, settlement and associated services in both intraday and day-ahead physical markets across 14 European countries, notably in the Nordic and Baltic regions

CONTINUE REVENUE DIVERSIFICATION AND GEOGRAPHIC EXPANSION

360 customers

2.59 TWh of power traded daily in 2020

20 countries




│ 54

A STRONG AND DIVERSIFIED COMPANY: ADVANCED DATA SERVICES

Revenue model

▪ Fees charged to data vendors and end users, based on screens▪ Licenses for non-display use and historic data and for the distribution to

third parties ▪ On demand indices structuration and computation

Capture value from Market Data

▪ Continue investment to deliver low latency market data feeds

▪ Ease customer burden to comply with rules

▪ Continue development of analytic products based on proprietary data

Build a growing, agile and cost-effective index provider

▪ Expand geographical scope to provide Benchmark Regulation (BMR) compliant investable products to European and global clients

▪ Accelerate the development of ESG based indices

▪ Further enhance technology to gain scale, agility and reach new type of clients

122k+ screens in over 110 countries

400+ data vendors redistributing data

80+ family of indices

€7.4bn ETF AUM on Euronext indices

A WIDE RANGE OF DATA PRODUCTS AND A LEADING INDEX FRANCHISE TO T HE GLOBAL INVESTMENT COMMUNITY




│ 55

A STRONG AND DIVERSIFIED COMPANY: POST-TRADE

Revenue model▪ Clearing fees from cleared volumes ▪ Treasury income

− Leading multi-asset clearing house

− Completes Euronext’s post-trade value chain


100% volume related

8% of total Group revenue1)

LCH SACCP – Equity & Derivatives, Repos, CDS

▪ Minority owner since 2017 ▪ 11% stake, 10 year agreement for

derivatives clearing

CLEARING

Initial margin depositedin FY 2020

€13.3bnRepos cleared

in FY 2020

€18.4tnEquity and derivatives

contracts cleared in FY 2020

121.4m

A FULLY OWNED AND OPERATED CLEARING HOUSEMinority stake

│ 56

A STRONG AND DIVERSIFIED COMPANY: POST-TRADE

Revenue model▪ Issuance fees▪ Settlement fees▪ Custody fees▪ Ancillary services

Transforming post trade assets from core infrastructure to value-added & innovative solutions

▪ Deliver efficient CSD services to local ecosystems

▪ Leverage on client relationship and technology to deliver a range of post trade solutions

▪ Capture opportunities arising from digital assets

▪ Play an active role in global CSD and CCP in a direction that supports overall Euronext targets



13% of total Group revenueassets under custody at

Euronext CSDs at the end of 2020

€5.9tn

equity, debt and other products issuers served by Euronext CSDs1)

3,900+

of settlement instructionsprocessed over 20201)

50 million

CSD – Portugal CSD – EU

▪ Operated, 100% owned by Euronext

▪ Minority owner since 2002 ▪ c.5% stake


CSD – Norway


CSD – Denmark


CSD – Italy

CUSTODY AND SETTLEMENT

OWNING AND OPERATING SEVERAL LOCAL CSDs Minority stake in global operator

│ 57

A STRONG AND DIVERSIFIED COMPANY: TECHNOLOGY SOLUTIONS

Revenue model▪ Software license fees▪ IT services provided to third-party market operators▪ Connection services and data center co-location services based on the

numbers of cabinets and technical design

Euronext Technology Solutions

▪ Optiq® - Powering Business Change: Highly performing flexible technology with 15μs latency, reduced cost of ownership and agile implementation of new business models with unlimited scalability

▪ Leveraging cloud capabilities to accelerate on delivery

▪ Continue to extend ability of Optiq® to address various and innovative assets

▪ Working with sales and delivery partners that have deep resource pools and clients portfolios and can provide fast and cost effective customisation for clients integrating Optiq®




Optiq® - Powering Business Change

10+ trading platform clients

100+ clients of APA/ARM services

Optiq® already selected by 7 clients

GOVERNANCE AND CAPITAL STRUCTURE

│ 58

│ 59│ 1) As of June 2021

EURONEXT SHARE AND CAPITAL STRUCTURE

Ownership

Caisse Des Dépôts & Consignations 7.32%

CDP Equity 7.32%

Euroclear Plc 5.63%

SFPI-FPIM 3.17%

Intesa Sanpaolo 1.50%

ABN AMRO Bank NV 0.50%

Total reference shareholders 25.44%

Capital structure1)

Reference shareholders

▪ Market Capitalization as of 23 July 2021: €9.6bn ▪ Bloomberg / Reuters: ENX:FP / ENX.PA▪ Indices presence: SBF120, NEXT 150, CAC MID 60, CAC NEXT 20

Reference Shareholders

25.44%

Treasury Shares0.18%

Employees0.11%

Free Float74.27%

15 €20 €25 €30 €35 €40 €45 €50 €55 €60 €65 €70 €75 €80 €85 €90 €95 €

100 €105 €110 €

ENX SBF 120 rebased

│ 60

EXPERIENCED MANAGEMENT TEAM

10 Supervisory Board members, of which 3 appointed by Euronext Reference Shareholders and 7 independent members

TWO TIERS BOARD STRUCTURE

Managing Board

Supervisory Board

Chris ToppleCEO Euronext London

Simone Huis in ’t VeldCEO Euronext Amsterdam

Øivind AmundsenCEO Oslo Børs VPS

Isabel UchaCEO Euronext Lisbon

CEO Interbolsa

Daryl ByrneCEO Euronext Dublin

Vincent Van DesselCEO Euronext Brussels

Extended Managing Board

Sylvia AndriessenGeneral Counsel

Giorgio ModicaChief Financial Officer

Amaury HoudartChief Talent Officer

Stéphane BoujnahChief Executive Officer,

Chairman of the Managing Board

Delphine d’AmarzitCEO Euronext Paris

Georges LauchardChief Operating Officer

Camille BeudinHead of Strategic Development and Mergers & Acquisitions

Anthony AttiaGlobal head of Primary Markets & Post-trade

│ Raffaele Jerusalmi, CEO of Borsa Italiana attends as a guest to the Managing Board sessions, his appointment to the Managing Board will be subject to shareholders and regulatory approvals

Fabrizio TestaCEO of MTS

Simon GallagherHead of Cash & Derivatives

│ 61

EURONEXT N.V. IS A DUTCH PUBLIC COMPANY WITH A TWO -TIER GOVERNAN CE (SUPERVISORY BOARD AND MANAGING BOARD)

│ Raffaele Jerusalmi, CEO of Borsa Italiana attends as a guest to the Managing Board sessions, his appointment to the Managing Board will be subject to shareholders and regulatory approvals│ 1) Subject regulatory approvals

OPEN FEDERAL GOVERNANCE MODEL

Stéphane Boujnah CEO and Chairman of the Managing BoardChris Topple CEO of Euronext London and Head Global Sales Øivind Amundsen CEO of Oslo Børs VPS Daryl Byrne CEO of Euronext Dublin and Head of Debt, Funds & ETFs listingDelphine d’Amarzit CEO of Euronext ParisSimone Huis in ’t Veld CEO of Euronext Amsterdam, Head of Market OperationIsabel Ucha CEO of Euronext Lisbon and InterbolsaVincent Van Dessel CEO of Euronext Brussels, Chairman of the Group Indices Oversight CommitteeFabrizio Testa CEO of MTSGeorges Lauchard COOSylvia Andriessen General CounselGiorgio Modica CFOSimon Gallagher Head of Cash and DerivativesAnthony Attia Global head of Primary Markets & Post-tradeCamille Beudin Head of Strategic Development and Mergers & Acquisitions Amaury Houdart Chief Talent Officer

Dick Sluimers Chairman (independent)Piero Novelli IndependentAlessandra Ferone1 Representative of the reference shareholdersDiana Chan1 Representative of the reference shareholdersOlivier Sichel1 Representative of the reference shareholdersManuel Ferreira da Silva Independent Padraic O’Connor Independent Rika Coppens1 Independent Nathalie Rachou Independent Morten Thorsrud Independent

Euronext extended Managing Board

Euronext Supervisory Board

▪ Prior to the IPO in 2014, a group of European institutions (who now own 23.27%) acquired shares in Euronext. These are known as the “ReferenceShareholders”

▪ The agreement of Euronext Reference Shareholders has been renewed in June 2019 for a period of 2 years

▪ Each local exchange has its own Board of Directors

APPENDIX

│ 62

│ 63

CASH AND DERIVATIVES TRADING PERFORMANCE (Reported)

Cash trading

ADV(in €m)

2016 2017

8,109

20192018

9,780

2020

7,671 8,1967,012

+9.4% +5.7% +1.1%+19.3%

Yield

Market Share

66.1%

201920182016 2017 2020

60.9% 64.4% 68.5% 70.4%

0.50 0.50 0.51 0.52

2016 20192017 2018 2020

0.52

Derivatives trading

ADV(in ‘000

lots)

Yield

491 550 585 596 684

20202016 2017 2018 2019

+12.0% +6.4% +1.9% +14.6%

0.32 0.29 0.29 0.30 0.29

20192016 2017 2018 2020

▪ Improved fee schemes:

▪ Best of Book ▪ Non-member

Omega pack▪ Optimisation

of the SLP programme

▪ Efficient yield management

▪ Market share > 60% on equity

▪ Improved competitive landscape

▪ Products launch

▪ Improved yield management

│ 64│ 1) 2020 dividend based on the total number of shares following the rights issue, corresponding to a 50% payout ratio

FINANCIAL PERFORMANCE SINCE IPO (Reported)

54.7%57.2%

55.9%

Reported earnings and dividend per share1)

EBITDA (in €m, based on 3rd party revenue)

Revenue (in €m, 3rd party revenue only)

2016 2018

532

2014 2015 2017

615

2019 2020

458 496

679

884

519

191

284 284 298354

399

520

2017 20182014 2015 2016 2019 2020

57.6% 58.8%

41.7%

1.69

2.472.83

3.473.10 3.19

4.53

0.841.24 1.42

1.73 1.54 1.59 1.47

2015 20162014 20192017 2018 2020

58.8%

in €m (REPORTED) 2014 2015 2016 2017 2018 2019 2020

Listing 61.7 70.5 68.7 84.2 106.5 129 145.5

Trading 212 241.7 220.8 237.9 276.6 272.8 365.1

of which Cash trading 165.6 197.2 180.7 190.3 210.9 205.6 262.2

of which Derivatives trading 46.4 44.5 40.1 40.3 43.9 44.3 49.2

of which Spot FX trading 7.2 21.7 22.9 26.4

of whic Power trading 27.3

Advanced Data Services 93.3 99.8 105.7 104.7 118.3 128.8 7.6

Investor Service 5.7 139

Post trade 57.3 71.7 67.6 71.7 77.4 104.8 177.2

Euronext Technologies and other revenue 33.4 34.1 33 33.5 36.1 37.8 49.7

Other income 0.6 0.7 0.6 0.4 0.2 0.2 0.2

Total revenue and other income 458.5 518.5 496.4 532.3 615 679.1 884.3

Staff expenses -124 -112.2 -99.8 -104.4 -118.5 -153.1 -199

Other operating expenses -143.1 -122.5 -112.8 -130.1 -142.3 -126.5 -165.3

EBITDA 191.4 283.8 283.9 297.8 354.3 399.4 520

EBITDA margin 41.70% 54.70% 57.20% 55.90% 57.60% 58.80% 58.80%

Depreciation and amortisation -16.6 -17.1 -15.1 -16.9 -23.4 -43.7 -57.8

Operating profit before exceptional items 208.8 266.8 268.8 280.9 330.9 355.7 462.3

Exceptional items -44.6 -28.7 -10 -14.8 -21.5 -21.9 -17.3

Other items -1.9 0.5 5.2 45 2.3 8.2 -2.2

Profit before income tax 162.3 238.6 264 311.1 311.7 325.6 442.7

Income tax expense -44.1 -65.9 -67 -68.9 -94.1 -100.3 -122.2

Non-controlling interests 0 0 0 0.9 1.7 -3.3 -5.1

Profit for the year 118.2 172.7 197 241.3 216 222 315.5

│ 65

BALANCE SHEET (Reported)

Dividend paid (with regards to fiscal year, in €m)

Cash and cash equivalents (in €m)

Total equity (in €m)

Total debt (in €m)

342 447 548729 802

934

2019201820152014 20202016 2017

1,089

248108 69 165

505

2014 20182015

1,018

2016 2017 2019 2020

1,281

59

20202016 20192014 2015

121108 111

158

20182017

8699

242159 175 188

398 370

20162014

630

2015 2017 2018 2019 2020

in €m 2014 2015 2016 2017 2018 2019 2020

Assets

Goodwill and other intangible asset 321.3 321.4 321.2 515.1 705.6 1,458.80 1,536.10

Other non-current assets 151 163.2 172.6 266.2 360.4 399.5 405

Total non-current assets 472.2 484.6 493.8 781.4 1,066.10 1,858.30 1,941.10

Other current assets 143.2 106.7 89.2 96.4 134.4 170,3 314

Cash and cash equivalent 241.6 158.6 174.5 187.8 398 369.8 629.5

Total current assets 384.8 265.3 263.7 284.2 532.4 540.1 943.5

Total assets 857.1 749.9 757.5 1,065.60 1,598.50 2,407.20 2,884.60

Equity and liabilities

Total equity 341.8 447.2 548 729.5 802.3 933.8 1089

Borrowings 248.4 108.2 69 164.7 504.9 1,011.50 1,272.50

Other non-current liabilities 49.3 15.8 20.3 46.6 97 206.9 213.6

Total non-current liabilities 297.7 124 89.3 211.3 601.9 1,218.30 1,486.10

Total current liabilities 217.6 178.7 120.2 124.8 194.2 255.1 309.3

Total equity and liabilities 857.1 749.9 757.5 1,065.60 1,598.50 2,407.20 2,884.60

│ 66

VP SECURITIES: FROM 2019 REPORTED COSTS TO CASH COSTS

│ Source : 2019 Annual report VP Securities

The €7 million costs synergies will also include capitalised costs and thus be communicated as « cash costs », as described below, in orderto fully reflect the synergy effort.

Starting point costs base for the €7 million run-rate cash costs synergies by 2023:

CASH COSTS – ACTIVITY BASED COSTS = €43.4 MILLION

2019A(DKK’000)

2019A (€m)

Revenue 425,841 57.2

Operating costs - 300,418

Capex - 48,950

Cash costs (Opex + Capex) - 349,368 - 46.9

o/w activity based costs - 26,372 - 3.5

Cash EBIT (Revenue - Cash costs) 76,473 10.3

│ 67

ADJUSTED EPS

In €m unless stated otherwise Q2 2021 Q2 2020

Net income reported 86.6 82.1

EPS Reported (€ per share) 0.88 1.08

Intangible assets adj. related to acquisitions (PPA) (15.7) (4.8)

Exceptional items (26.0) (0.3)

Impairment (4.3) -

Exceptional financing expense (8.9) -

Tax related to those items 6.9 1.1

Adj. net income 134.7 86.0

Adj. EPS (€ per share) 1.43 1.13

│ 68

Q2 2021 INCOME STATEMENT (Reported)unaudited, in €m Q2 2021 Q2 2020 % var % var l-f-l

Total Revenues and income 328.8 210.7 +56.0% +3.5%Listing 48.2 36.1 +33.6% +9.5%Trading revenue, of which 112.8 89.4 +26.1% -6.0%Cash Trading 70.1 64.5 +8.7% -6.7%Derivatives Trading 13.1 11.0 +18.3% +0.6%Fixed income trading 17.3 0.6 +2672.1% -28.8%FX Trading 5.7 6.6 -13.5% -5.3%Power trading 6.6 6.7 -0.4% -8.8%

Investor Services 2.2 1.7 +29.8% +36.9%Market Data & indices 46.5 35.8 +29.7% +1.4%Post-trade, of which 83.4 36.1 +130.9% +18.5%Clearing 26.6 15.6 +70.6% +20.6%Custody and Settlement 56.8 20.5 +176.8% +16.9%

Market Solutions & other revenue 22.9 11.9 +92.8% +4.2%NTI through CCP business 9.6 - n/a n/a

Other income 1.4 (0.2) -735.7% -568.8%Transitional revenues 1.9 - n/a n/a

Operating expenses exc. D&A (135.9) (85.3) +59.3% +5.3%

Salaries and employee benefits (69.4) (47.8) +45.1% +7.6%Other Operational Expenses, of which (66.5) (37.5) +77.3% +2.5%

System & Communication (22.8) (8.5) +168.1% +17.6%

Professional Services (20.3) (12.4) +64.0% -2.6%

Clearing expense (8.7) (8.1) +6.8% +6.7%

Accommodation (2.4) (1.3) +79.3% +18.1%

Other Operational Expenses (12.4) (7.2) +72.1% -13.8%

EBITDA 192.9 125.4 +53.8% +2.4%EBITDA margin 58.7% 59.5% -0.8pt -0.7pt

Depreciation & Amortisation (30.5) (13.6) +123.7% +1.0%

Total Expenses (166.4) (99.0) +68.1% +4.7%

Operating Profit before Exceptional items 162.4 111.8 +45.3% +2.5%Exceptional items (26.0) (0.3) +7462.1%

Operating Profit 136.4 111.4 +22.4%

Net financing income / (expense) (13.0) (2.5) +414.5%Results from equity investments 2.3 2.3 +1.6%

Profit before income tax 125.7 111.2 +13.1%

Income tax expense (37.2) (27.9) +33.1%

Minority interests (1.9) (1.2) +59.4%

Profit for the period 86.6 82.1 +5.6%

EPS (basic, reported, in €) 0.88 1.08 -18.2%EPS (diluted, reported, in €) 0.88 1.08 -18.3%EPS (basic, adjusted, in €) 1.43 1.13 +26.8%

│ 69

BALANCE SHEET AS AT 30 JUNE 2021

unaudited, in €m As at 30/06/21 As at 31/03/21

Non-current assets

Property, plant and equipment 78.7 56.4

Right-of-use assets 72.5 43.0

Goodwill and other intangible assets 6,125.0 1,568.4

Deferred income tax assets 33.1 21.5

Investments in associates and JV 71.8 70.7

Financial assets at fair value through OCI 258.4 204.5

Other non current assets 3.8 7.5

Total non-current assets 6,643.2 1,972.0

Current assets

Trade and other receivables 381.4 299.0

Income tax receivable 11.1 2.9

Derivative financial instruments 18.3 23.7

CCP clearing business assets 132,243.9 -

Other short-term financial assets 161.4 104.0

Cash & cash equivalents 620.5 759.2

Total current assets 133,436.6 1,188.8

Total assets 140,079.7 3,160.7

unaudited, in €mEquity

As at 30/06/21 As at 31/03/21

Shareholders' equity 3,441.8 1,148.4

Non-controlling interests 81.1 21.6

Total Equity 3,522.8 1,170.0

Non-current liabilities

Borrowings 3,049.2 1,272.6

Lease liabilities 53.5 31.9

Deferred income tax liabilities 534.1 99.8

Post employment benefits 31.0 27.2

Contract liabilities 64.2 48.5

Other provisions 10.5 13.0

Other non-current liabilities - 0.0

Total Non-current liabilities 3,742.6 1,493.0

Current liabilities

Borrowings 83.4 12.6

Lease liabilities 24.2 16.3

Derivative financial instruments 0.0 0.0

CCP clearing business liabilities 132,219.1 -

Income tax payable 51.3 44.8

Trade and other payables 323.4 308.0

Contract liabilities 108.3 111.8

Other provisions 4.6 4.1

Total Current liabilities 132,814.3 497.7

Total equity and liabilities 140,079.7 3,160.7

│ 70

Q2 2021 CASH FLOWS AND OUTSTANDING DEBT

unaudited, in €m Q2 2021 Q2 2020

Profit before tax 125.7 111.2 Adjustments for:- Depreciation and amortization 30.5 13.6 - Share based payments 2.5 2.5

- Share of profit from associates and joint ventures 1.1 (2.3)- Changes in working capital (83.5) (19.0)

Cash flow from operating activities 76.2 106.0 Income tax paid (77.5) (25.4)

Net cash flows from operating activities (1.3) 80.6

Cash flow from investing activities

Acquisition of subsidiaries, net of cash acquired (4,127.2) (1.5)Proceeds from disposal of subsidiary 2.6 -Purchase of current financial assets (17.4) (13.9)Redemption of current financial assets 31.9 3.0

Purchase of property, plant and equipment (2.3) (0.7)

Purchase of intangible assets (8.9) (1.2)

Proceeds from sale of Property, plant, equipment and intangible assets (0.1) 0.0 Dividends received from equity investments 3.4 -

Net cash flow from investing activities (4,118.0) (14.4)

Cash flow from financing activitiesProceeds from borrowings, net of transaction fees 5,472.8 255.7

Repayment of borrowings, net of transaction fees (3,682.9) -Interest paid (15.1) (10.7)Interest received 5.0 4.9 Share capital repayment 2,373.4 -

Payment of lease liabilities (5.7) (5.1)

Acquisition of own shares (0.1) 0.6

Employee Share transactions (3.8) (1.8)Dividends paid to the company's shareholders (157.2) (110.6)

Dividends paid to non-controlling interests (2.5) (4.4)

Net cash flow from financing activities 3,984.0 128.5

Total cash flow over the period (135.3) 194.8 Cash and cash equivalents - Beginning of period 759.2 418.8

Non Cash exchange gains/(losses) on cash and cash equivalents (3.3) 8.8

Cash and cash equivalents - End of period 620.5 622.3

Outstanding debt issued

Amount Maturity Interest

€500 million 2025 Swap-to-floating

€750 million 2029 Fixed




│ 71

DISCLAIMER

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