Euronext - 2020 Universal Registration Document

Financial Statements 8 Notes to the Consolidated Financial Statements

The defined benefit obligation and plan assets are composed by country as follows:

2020

Belgium

Portugal

France 10,919

Norway

Total

In thousands of euros

Present value of obligation Fair value of plan assets

30

25,501

13,021

49,471

–

(18,758)

(3,719)

(517)

(22,994) 26,477

TOTAL

30

6,743

7,200

12,504

2019

Belgium

Portugal

France 10,286

Norway

Total

In thousands of euros

Present value of obligation Fair value of plan assets

39

24,729

13,121

48,175

–

(18,107)

(3,644)

(466)

(22,217) 25,958

TOTAL

39

6,622

6,642

12,655

The significant actuarial assumptions were as follows:

2020

Belgium

Portugal

France

Norway

Discount rate

0.1%

1.3%

0.9%

1.7%

Salary growth rate

0.0%

1.7%

2.5%

0.8%

PENSION GROWTH RATE

0.0%

0.0%

0.0%

1.2%

2019

Belgium

Portugal

France

Norway

Discount rate

0.3% 0.0% 0.0%

1.5% 1.7% 0.0%

1.1% 2.5% 0.0%

2.3% 0.5% 1.7%

Salary growth rate Pension growth rate

The Group derives the discount rate used to determine the defined benefit obligation from yields on high quality corporate bonds of the duration corresponding to the liabilities. As of 31 December 2020, the sensitivity of the defined benefit obligation to changes in the weighted principal assumptions were:

Impact on defined benefit obligation

Change in assumption

Increase in assumption

Decrease in assumption

Discount rate

0.25% 0.50% 0.50%

-4.0% 1.8% 3.2%

4.4%

Salary growth rate Pension growth rate

-1.7% -2.9%

The pension plan assets allocation differs per plan. On a weighted average basis, the allocation was as follows:

2020

2019

Fair value of plan assets in thousands of euros

Fair value of plan assets in percent

Fair value of plan assets in thousands of euros

Fair value of plan assets in percent

Plan assets

Equity securities Debt securities

6,902

30.0% 62.2% 2.1% 4.9% 0.7% 100%

6,522

29.4% 61.7% 2.1% 6.0% 0.9% 100%

14,311

13,711

Property

479

470

Investment funds

1,129

1,324

Cash

173

190

TOTAL

22,994

22,217

270

2020 UNIVERSAL REGISTRATION DOCUMENT