Euronext // 2021 Universal Registration Document

Operating and Financial Review 7 Overview

Total Revenue and income Euronext’s total revenue and income for the year ended 31 December 2021 was €1,298.7 million, an increase of €414.3 million compared to €884.3 million for the year ended 31 December 2020. The table below sets forth Euronext’s revenue and income for the years ended 31 December 2021, 2020 and 2019.

2021

2020

2019

In thousands of euros

Listing

189,689

145,473

128,951

Trading revenue

465,265

365,100

272,810

of which

n Cash trading

293,684

259,606

202,975

n Derivatives trading

52,458

49,206

44,324

n Fixed income trading

65,783

2,620

2,590

n FX trading

23,479

26,352

22,921

n Power trading

29,861

27,316

—

Investor Services

8,894

7,584

5,735

Advanced Data Services

183,607

139,036

128,756

Post-trade

320,570

177,228

104,831

of which

n Clearing

101,376

67,056

55,237

n Custody & Settlement and other

219,194

110,172

49,594

Euronext Technology Solutions & other revenue

85,498

49,725

37,805

NTI through CCP business

35,432

—

—

Other income

3,455

172

220

Transitional income

6,245

—

—

TOTAL REVENUE AND INCOME

1,298,655

884,318

679,108

position as the leading European venue for SPAC listings, as well as 109 new Tech company listings, positioning Euronext as the leading venue for Tech issuers in Europe. Secondary markets reported increased activity supported by large capitalisation deals, with €92.9 billion raised in secondary equity issues compared to €56.2 billion raised in 2020. Euronext reinforced its position as the leading exchange in Europe for the listing of ETFs in 2021. Euronext confirmed its leading position worldwide in debt listing, recording an all-time high in new debt listings in 2021. This performance results from the favourable market conditions across Euronext listing venues, continued traction of ESG bonds as well as the benefits from Borsa Italiana debt listing capabilities. In 2021, €1.5 trillion in debt was raised on Euronext markets, compared to €1.2 trillion in 2020. In total, €1.6 trillion in equity and debt was raised on Euronext markets in 2021, compared to €1.3 trillion in 2020. Euronext Corporate Services reported a strong performance, generating €37.1 million in revenue in 2021, up +14.6% compared to 2020, capitalising on supportive trends towards further digitalisation and on an enhanced offering in 2021.

The like-for-like measure in the operating results review below is used by the Group to improve comparability with the impact generated in the comparative period. It comprises the consolidated impact of the specific revenue or expense category for the year minus the impact of the specific revenue or expense category from newly acquired subsidiaries during the year.

Listing For the year ended 31 December 2021 (1) :

Listing revenue was €189.7 million in 2021, an increase of +30.4% compared to 2020, driven by record equity and debt listing activities, and the dynamism of Euronext Corporate Services. On a like-for-like basis at constant currencies, listing revenue increased by +8.0% compared to 2020. In 2021, Euronext reported an all-time record of 212 new equity listings (2) . This performance confirmed Euronext’s leadership as the leading European equity listing venue thanks to its attractive value proposition for issuers, fromEurope and abroad. Euronext welcomed 18 large capitalisation listings in 2021, including international blue chip issuers such as Allfunds (Spain), CTP (Czech Republic), InPost (Poland), Majorel (Luxembourg) and Universal Music Group (US). In 2021, Euronext also recorded 22 SPAC listings, confirming its

(1) 2020 data differs from what was published in 2021 due to the inclusion pro forma of Borsa Italiana listing volumes statistics. (2) Pro forma Borsa Italiana for the full year 2021.

188

2021 UNIVERSAL REGISTRATION DOCUMENT