Euronext - 2020 Universal Registration Document

GLOSSARY, CONCORDANCE TABLES & ANNEX

The directors consider there to be no material uncertainties that may cast significant doubt on the Group and Parent Company’s ability to continue to operate as a going concern. The directors have a reasonable expectation that the Group and the Parent Company have adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from the date of signing of these Consolidated Financial Statements. Accordingly, they continue to adopt the going concern basis in the preparation of these Consolidated Financial Statements.

Management monitors forecasts of the Group’s cash flow and overlays sensitivities to these forecasts to reflect assumptions about more difficult market conditions or stress events. The forecasts reflect the outcomes that the directors consider most likely, based on the information available at the date of signing of these Financial Statements. To assess the Group’s resilience to more adverse outcomes, its forecast performancewas sensitised to reflect a reasonableworstcase downside scenario, causing a significant market dislocation and included the observed impact of the Covid pandemic on the business.

2.5

Recent Accounting Developments

New standards applicable to financial period ended 31 st December 2020 In compliance with IAS 8, the following table shows the new international accounting standards, or the amendments to the standards already in force, and the related homologation Regulations whose application has become mandatory from the 2020 financial year.

IFRS APPROVED AT 31.12.2020 AND IN FORCE SINCE 2020

Rule/Approval

Title

Date of entry in force

2075/2019 2014/2019

Changes to references to the conceptual framework*

01/01/2020 first year start on 01/01/2020 or later

Changes to IAS 1 Presentation of the financial statements - Relevant definition 01/01/2020 first year start on 01/01/2020 or later Changes to IAS 8 accounting principles, change in accounting estimates - Relevant definition 01/01/2020 first year start on 01/01/2020 or later

34/2020

Change to IFRS 9 financial instruments - Reform of the reference indices for determing interest rates** Change to IAS 39 financial instruments: detection and evaluation - Reform of the reference indices for determing interest rates** Changes to IFRS 7 financial instruments: additional information - Reform of the reference indices for determing interest rates**

01/01/2020 first year start on 01/01/2020 or later

01/01/2020 first year start on 01/01/2020 or later

01/01/2020 first year start on 01/01/2020 or later

551/2020

Change to IFRS 3 Business combinations: definition of a business activity

01/01/2020 first year start on 01/01/2020 or later

1434/2020 01/01/2020 first year start on 01/01/2020 or later * The document updates the references to the conceptual framework in: IFRS 2, IFRS 3, IFRS 6, IFRS 14, IAS 1, IAS 8, IAS 34, IAS 37, IAS 38, IFRIC 12, IFRIC 19, IFRIC 20, IFRIC 22, SIC 32. ** The rules n. 34/2020, approved on 15.01.2020, is mandatory and applicable from 1 st january 2020, except for the possibility of early application for the financial statement 2019. Changes to IFRS 16 Leasing - Concessions onrelated fees to COVID-19

The amendments approved above have not had a significant impact on the Group’s consolidated financial statements.

New accounting standards and interpretations already issued but not yet effective The following table, on the other hand, shows the new international accounting standards or the amendments to the accounting standards already in force, with the related Regulations approved

by the European Commission, the mandatory application of which starts from 1 st January 2021 - in the case of financial statements coinciding with the calendar year - or from a later date.

IFRS APPROVED AT 31.12.2020 AND APPLICATION AFTER 31.12.2020

Rule/Approval

Title

Date of entry in force

2097/2020

Changes of IFRS 4 Insurance contracts - Extension of the temporary exemption from application of IFRS 9 Reform of the reference indices for the determination of interest rates — fase 2 changes of IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16

01/01/2021 first year start on 01/01/2021 or later

25/2021*

01/01/2021 first year start on 01/01/2021 or later

* The regulation n. 25/2021 has been approved on 13.01.2021.

G

327

2020 UNIVERSAL REGISTRATION DOCUMENT