Euronext - 2020 Universal Registration Document

General Description of the Company and its Share Capital

Share Capital

On 14May 2020, the general meeting designated the Managing Board as per 14 May 2020 for a period of eighteen months or until the date on which the meeting again extends the designation, if earlier, as the competent body to, subject to the approval of the Supervisory Board, restrict or exclude the preemptive rights of shareholders pertaining to (the right to subscribe for) ordinary shares upon any issuance of ordinary shares (as referred to in Item 9a of the agenda of the meeting). The Company has an agreement with its Reference Shareholders ( see section 6.4.1 – Reference Shareholders ) to give reasonable prior notice if Euronext uses this authority for share issuances in case of a merger or acquisition transaction. On 20 November 2020, the Extraordinary general meeting designated the Managing Board as the corporate body authorized to exclude or limit related preemptive rights in connection with the acquisition of the entire issued share capital of London Stock Exchange Group Holdings Italia S.p.A. (private placement and rights offer). Euronext may acquire fully paid shares at any time for no consideration ( om niet ), or, subject to the following provisions of Dutch law and its Articles of Association, Euronext may acquire fully paid shares for consideration, namely if (i) its shareholders’ equity, less the payment required to make the acquisition, does not fall below the sum of paid-in and called-up share capital and any statutory reserves, (ii) Euronext and its subsidiaries would thereafter not hold shares or hold a pledge over Euronext shares with an aggregate nominal value exceeding 50% of its issued share capital, and (iii) the Managing Board has been authorised by the general meeting, with the prior approval of the Supervisory Board. Authorisation from the general meeting to acquire Euronext shares must specify the number and class of shares that may be acquired, the manner in which shares may be acquired and the price range within which shares may be acquired. Such authorisation will be valid for no more than eighteen months. Any shares Euronext holds may not be voted or counted for voting quorum purposes. On 14 May 2020, the general meeting designated the Managing Board as per 14 May 2020 for a period of eighteen months or until the date on which the meeting again extends the authorisation, if earlier, to, subject to the approval of the Supervisory Board, have the Company acquire ordinary shares in the share capital of the Company through purchase on a stock exchange or otherwise. The authorisation is given for the purchase of up to 10% of the issued ordinary shares at the time of the purchase, for a purchase price between (a) the par value of the ordinary shares at the time of the purchase and (b) the average closing price of the ordinary shares on Euronext Paris, Euronext Amsterdam, Euronext Brussels and Euronext Lisbon, during the five trading days preceding the day of purchase within a margin of 10% of that purchase price. Under the Facilities Agreement (see section 7.1.11 – Facilities Agreement) , Euronext’s ability to acquire its shares is restricted, subject to certain exceptions. 6.2.4 ACQUISITION OF SHARES IN EURONEXT’S CAPITAL

proposal has been approved by the Supervisory Board. Pursuant to the Dutch Civil Code and Euronext’s Articles of Association, the period of designation may not exceed five years. Such designation may be renewed by a resolution of the general meeting for a subsequent period of up to five years each time. Unless the resolution determines otherwise, the designation is irrevocable. At the designation, the number of shares which may be issued by the Managing Board must be determined. On 14 May 2020, the general meeting designated the Managing Board as per 14 May 2020 for a period of eighteen months or until the date on which the meeting again extends the designation, if earlier, as the competent body to, subject to the approval of the Supervisory Board, issue ordinary shares and to grant rights to subscribe for ordinary shares up to a total of 10% of the currently issued ordinary share capital. As set out in the IPO prospectus of 10 June 2014, Euronext has an agreement with its Reference Shareholders to give reasonable prior notice if it uses this authority for share issuances in case of a merger or acquisition transaction. By supplemental letter agreement dated 17 June 2019 Euronext has, in addition, undertaken towards its Reference Shareholders that it will not use this authority for any share issuances, if and to the extent pursuant to such issuance the joint shareholding of the Reference Shareholders in Euronext N.V. would dilute to below 19.09%. On 20 November 2020, the Extraordinary General Meeting designated the Managing Board as the corporate body authorised to issue shares and/or to grant rights to subscribe for shares in connection with the acquisition of the entire issued share capital of London Stock Exchange Group Holdings Italia S.p.A. (private placement and rights offer). PRE-EMPTION RIGHTS Dutch company law and Euronext’s Articles of Association in most cases give shareholders preemption rights to subscribe on a pro rata basis for any issue of new shares or upon a grant of rights to subscribe for shares. Exceptions to these preemption rights include the issue of shares and the grant of rights to subscribe for shares (i) to Euronext’s employees, (ii) in return for non-cash consideration, or (iii) the issue of shares to persons exercising a previously granted right to subscribe for shares. A shareholder may exercise preemption rights during a period of two weeks from the date of the announcement of the issue or grant. The general meeting or the Managing Board, if so designated by the general meeting, may restrict the right or exclude shareholder preemption rights. A resolution by the general meeting to designate the authority to exclude or limit preemption rights to the Managing Board requires a majority of at least two-thirds of the votes cast if less than 50% of Euronext’s issued share capital is represented and can only be taken upon proposal of the Supervisory Board or upon proposal of the Managing Board, which proposal has been approved by the Supervisory Board. If the general meeting has not designated this authority to the Managing Board, the general meeting may itself vote to limit or exclude preemption rights and will also require a majority of at least two-thirds of the votes cast, if less than 50% of Euronext’s issued share capital is represented at the general meeting. 6.2.3

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2020 UNIVERSAL REGISTRATION DOCUMENT