Euronext - 2020 Universal Registration Document

Financial Statements 8 Notes to the Consolidated Financial Statements

2019

Range of inputs (probaility-

Relationship of unobservable inputs to fair value Increase decrease

Fair value at 31 December 2019

Unobservable inputs*

weighted average)

In thousands of euros

Return on equity 7.9%-8.9% (8.4%)

Euroclear S.A./N.V.

140,401

4,283

(5,816)

Expected dividend growth rate

0.73%-1.73% (1.23%)

Return on equity 7.9%-8.9% (8.4%)

Sicovam Holding S.A.

57,061

1,666

(2,262)

Expected dividend growth rate

0.73%-1.73% (1.23%)

* There were no significant inter-relationships between unobservable inputs that materially affect fair value

Contingent consideration payables and redemption liability The contingent consideration payables related to Company Webcast B.V. and InsiderLog AB of €5.0 million and €3.6 million respectively and the redemption liability related to Company Webcast B.V. of €22.3 million were paid in full during the year ended 31 December 2020, with any remaining revaluation result recognised in Profit or Loss (see Note 12). The acquisition of Ticker contained a contingent consideration payable, initially estimated at €1.0 million based on business assumptions and amultiple of revenue. The liability was remeasured at €0.5 million as per 31 December 2020. 35.2.5 Fair Values of Other Financial Instruments The Group also has a number of financial instruments which are not measured at fair value in the balance sheet. For these instruments the fair values approximate their carrying amounts.

The sensitivity analysis shows the impact on fair value using the most favorable combination (increase), or least favorable combination (decrease) of the unobservable inputs per investment in unlisted equity securities. Unlisted equity securities in Algomi Ltd. On 6 March 2020, the Group sold its 7.74% minority stake in Algomi Ltd. to BGC Partners for a consideration of €2.6 million, comprising €1.9 million of cash receipt and €0.7 million of deferred receivable, pending any post-transaction settlements. In Q1 2020, the investment was remeasured to fair value through Other Comprehensive Income at €2.6 million. Subsequently, the investment was derecognised and the realised portion of the historical revaluation gain (equal to the cash receipt of €1.9 million) was transferred within equity from FVOCI reserve to retained earnings.

NOTE 36 RELATED PARTIES

36.1 Transactions with Related Parties The Group has related party relationships with its associates and joint ventures (as described in Note 7). Transactions with associates and joint ventures are generally conducted with terms equivalent

to arm’s length transactions. Transactions between subsidiaries are not included in the description as these are eliminated in the Consolidated Financial Statements. The interests in Group Companies are set out in Note 4.

The transactions with related parties and outstanding year-end balances are reported in the tables below:

2020 67,433 34,767

2019 50,158 29,804

In thousands of euros

Sales to related parties

Purchases from related parties

As at 31 December 2020

As at 31 December 2019

In thousands of euros

Receivables from related parties

3,308

2,191

Payables to related parties

111

381

276

2020 UNIVERSAL REGISTRATION DOCUMENT