Euronext // 2021 Universal Registration Document

Presentation of the Group

Description of the Business

1.3.1 BUSINESS OVERVIEW Euronext is a European market infrastructure offering a diverse range of products and services and combining transparent and efficient equity, fixed income securities and derivatives markets in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris. Euronext operates various businesses in 18 countries. Euronext’s businesses comprise listing, cash trading, derivatives trading, spot FX trading, fixed income trading, power trading, investor services, Advanced Data Services, post-trade, technologies & other. Euronext is the leading listing venue in Europe and attracted 212 new equity listings in 2021. Euronext markets provide the leading listing venues in continental Europe based on the number of companies listed as of 31 December 2021. Nearly 2,000 issuers representing a combined market capitalisation of approximately €6.9 trillion were admitted to trading on Euronext’s markets as at 31 December 2021. Euronext ranked first in Europe in terms of market capitalisation of listed companies and first among the largest exchange groups in Europe in terms of number of companies listed, excluding Bolsas y Mercados Españoles (on which a large proportion of listed issuers are open-ended investment companies, limiting comparability). In addition, the Company has 3,484 exchange traded funds (ETFs) and over 3,000 funds listed on its markets as of 31 December 2021. Euronext ranked first among all trading venues in Europe in terms of monthly lit order book trading volume in equities for the last 12 months ended 31 December 2021 among all trading venues in Europe (pro forma the Borsa Italiana Group cash trading volumes). Euronext’s pan-European cash equities trading venue is the market leader in cash equity trading in its seven home continental European markets of Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal, as of 31 December 2021. Euronext market share in cash equities trading of the securities listed on its markets reached 71.0% over 2021 (1) . Euronext provides multiple marketplaces including its multilateral trading facilities (“MTFs”), for investors, broker-dealers and other market participants to meet directly to buy and sell cash equities, fixed income securities and exchange traded products (“ETPs”). Euronext is also the number one venue of choice for the listing of bonds globally, with over 14,700 new bond listings in 2021 and a total number of bonds exceeding 52,000 at the end of 2021, surpassing 2020’s total of more than 48,000 bonds listed. Bond listing is an international business activity with over 4,000 issuers coming from more than 100 jurisdictions across the globe. Euronext’s derivatives trading business has a strong market position in futures and options on benchmark indices such as the CAC 40®, AEX®, BEL 20®, ISEQ®, OBX® and PSI®, single stock options and futures and commodity derivatives. It ranks second among European exchange groups in terms of open interest of derivatives traded as at 31 December 2021. Euronext offers options contracts based on all of the blue-chip equities listed on Euronext, thereby reinforcing liquidity for those equities. This includes the components of Euronext’s flagship national indices such as the CAC 40®, the second most traded national index in Europe. The commodity derivatives offered by the derivatives trading business include the milling wheat futures contract which is a world-class contract for the European Union agriculture market.

Since April 2021, Euronext is the owner of MTS, the leading European fixed income trading platform, number one in Europe for Dealer-to-Dealer (D2D) European Government bonds trading, number one in Italian repo trading and number three in Europe for Dealer-to-Client (D2C) European Government bonds trading. Euronext’s Advanced Data Services business distributes and sells real-time, historic and reference data to global data vendors, such as Reuters and Bloomberg, as well as to financial institutions and individual investors. With a portfolio of over 1,500 benchmark indices and indicative net asset values (“iNAVs”), including the CAC 40® index in France and AEX® index in the Netherlands, Euronext is a leading provider of indices and a provider of advanced analytics products. Euronext’s blue-chip index franchise was enriched in 2021 through the addition of the CAC 40 ESG® and the MIB ESG® Index (AEX ESG® and OBX ESG® are expected to be launched in the first half of 2022). Euronext is the leading ESG index issuer in Europe, with more than 20 new ESG indices launched in 2021. Post trade is an important part of the services Euronext provides to its clients. In 2013, the Company entered into a clearing agreement with LCH SA, the Paris-based clearing house of LCH Group Limited (LCH Group), forf the clearing of Euronext’s cash products. In 2017, Euronext renewed the separate derivatives clearing agreement with LCH SA that provides for a revenue sharing arrangement in respect of the clearing of Euronext listed derivatives, and became a minority shareholder with strong pre-emption rights, holding 11.1% of LCH SA capital. On 29 April 2021, Euronext acquired the multi-asset clearing house CC&G, which it will grow into Euronext Clearing, making it by 2023 and 2024 Euronext’s CCP of choice for its cash equity, listed derivatives and commodities markets. Since 2016, Euronext also offers user choice in clearing for the equity markets within the Eurozone, through the implementation of a preferred Central Counterparty (“CCP”) model followed by a fully interoperable service. Euronext will continue to offer an open access CCP model for cash equity clearing. In addition, Euronext owns and operates Interbolsa (now Euronext Securities Porto), the Portuguese national Central Securities Depository (“CSD”); VPS (now Euronext Securities Oslo), the Norwegian national CSD; VP Securities (Euronext Securities Copenhagen), the Danish national CSD; and Monte Titoli (Euronext Securities Milan), the Italian national CSD. The Group is now the third-largest CSD operator in Europe. Euronext has combined its four CSD brands into Euronext Securities, a new umbrella brand for its CSD business, while keeping a strong local presence and identity. Euronext Technology Solutions & other comprises Euronext’s commercial technology solutions and services business, and former Borsa Italiana businesses including Gatelab and Integrated Technology Solutions ‘X2M’. Euronext offers custom solutions and cost-effective services to exchanges, venue operators, and financial institutions, who require complex, functional capabilities, and low latency processing across multiple-asset classes surrounded by exchange grade business services used to operating within highly regulated environments. Euronext Technology Solutions also provides commercial services based on its Regulatory Reporting Services, registered as both an Approved Publication Arrangement (APA) and an Approved Reporting Mechanism (ARM) within the EU and the UK. The services provide Regulatory reporting facilities to investment firms.

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(1) Reported market share for 8 months of consolidation of Borsa Italiana trading volumes.

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2021 UNIVERSAL REGISTRATION DOCUMENT