Euronext - 2020 Universal Registration Document

2022 FINANCIAL TARGETS REFLECTING EURONEXT GROWTH AMBITIONS AND ACHIEVED TWO YEARS IN ADVANCE

2018

2022e TARGETS

2020

VS. PROFORMA

€ 795 m to € 826 m +2 to 3 % CAGR 2018PF-2022e

COMPARABLE PERIMETER

PROFORMA

€ 831 m

€ 734 m

Revenue

57.0 % PROFORMA

60.5 %

≥ 60%

EBITDA margin

50 % of Reported Net Income

50 % of Reported Net Income

50% of Reported Net Income Current

Dividend Policy

Proforma / comparable perimeter excludes Nord Pool, Ticker, 3Sens and VP Securities.

Significant diversification and change of perimeter since October 2019, with Nord Pool and VP Securities acquisitions in 2020.

Borsa Italiana group contemplated transformational transaction expected to be completed in H1 2021.

Euronext no longer intends to pursue its 2022 guidance which is withdrawn. Euronext will provide the market with new 2024 guidance reflecting the extended perimeter during the fourth quarter of 2021. As a result, investors should disregard the ‘Let’s Grow Together 2022’ financial targets.

EXECUTING DISCIPLINED AND VALUE ACCRETIVE M&A

Develop new growth and diversification initiatives 2 Investor services New asset classes Post trade solutions Take recent successes to the next level 1 Corporate Services FX stack Index & data franchise

Rigorous capital allocation policy

Investment criteria:

ROCE > WACC in year 3 to 5

Optimised leverage with credit floor rating ≥ Strong investment grade

Transformational deals 3 Expansion of the federal model

Diversification of the revenue base

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2020 UNIVERSAL REGISTRATION DOCUMENT