Euronext // 2021 Universal Registration Document

Operating and Financial Review 7 Insurance

Euronext has lodged an appeal in Cassation before the Supreme Court on 23 October 2020. On 18 December 2020 the counterparty submitted its statement of defence including appeal in Cassation. Euronext submitted its final statement of defence on 30 April 2021. On 29 October 2021 the Advocaat-Generaal advised the Supreme Court to annul the decision of the Higher Court and to reject the cross-appeal filed by VPGE. The Supreme Court will decide on 8 April 2022. No provision has been booked in connection with this case.

judge did hold that there has been an attributable breach by Euronext Amsterdam in the performance of the pension agreements with the members of the association. Euronext Amsterdam is ordered to pay for damages resulting from the loss of indexation perspective incurred by the claimants other than the association. The association is not eligible to claim damages. The amount of the damages needs to be determined in a separate procedure (a schadestaatprocedure ). On 28 July 2020 the Higher Court ordered Euronext: 1. to restore the pension reduction of 1.55% to the Vereniging Pensioengerechtigden Euronext Amsterdam (“VPGE”) members; and 2. to pay for indexation of the VPGE member’s pensions. However, the premium is limited to 49% (42/85.2) of 8.52% of the annual pension premium. The cost that have been paid already for indexation and the missed interest (2014-2019) must be settled.

7.4 Insurance

Euronext maintains a comprehensive insurance programme with the assistance of an insurance broker allowing Euronext to make an assessment of its risks, take out the proper insurance policies and deal with insurance management as smoothly as possible. The main characteristics of the insurance programme are the following: n the main insurance policies are consolidated at the Euronext group level in order to ensure consistency of coverage across the Euronext group and to benefit from lower premiums; n the scope of risks covered is determined by reference to Euronext’s activities (listing, trading, market data, post-trade and technologies & other); and n all insurance carriers are analysed from a credit rating perspective. The main risks covered by Euronext’s insurance programme are the following: n directors’ & officers’ liability: this policy covers losses related to an alleged wrongful Act committed by members of Euronext Managing Board, Euronext Supervisory Board and other senior management. Under this policy, any of Euronext past, present or future directors or officers will be insured against liability for negligence, default or breach of duty or other liability, other than cases of wilful misconduct or gross negligence ( opzet of grove nalatigheid ); n professional indemnity & crime: this policy provides first party coverage and indemnification against third-party claims arising out of negligence, errors or omissions in connection with professional services or failure to meet contractual obligations in the conduct of exchange activities and exchange related activities. This policy also covers first party losses resulting directly from dishonest or fraudulent acts committed by Euronext employees or third parties working with Euronext employees;

n cyber: this policy provides coverage for an Euronext’s business interruption following malicious action on an IT system. Coverage is provided for claims arising from the interruption of systems or other failures of IT Security caused by damage to computer programs or data that results from a computer attack or unauthorised access or use of system. This policy also covers claims for the failure to protect personality identifiable information or unauthorised disclosure of confidential corporate information in any form; n property damage & business interruption: this policy provides first party coverage for losses to Euronext’s property or business interruption. The coverage includes tenant’s liability and liability to third parties; n terrorism; and n commercial general liability: this policy provides coverage for negligent acts and/or omissions resulting in bodily injury, property damage, consequential losses and pure financial losses to third parties, their reputation, or their property as a result of using Euronext products and services. In addition to the insurance program, risk management and business continuity plan policy and procedures are implemented in a complementary manner. Euronext believes that its existing insurance coverage, including the amounts of coverage and the conditions, provides reasonable protection, taking into account the costs for the insurance coverage and the potential risks to business operations. As from closing date of the Borsa Italiana Group transaction, Borsa Italiana Group has been fully integrated into the global Euronext Insurance programme.

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2021 UNIVERSAL REGISTRATION DOCUMENT