Euronext // 2021 Universal Registration Document

Financial Statements 8 Notes to the Consolidated Financial Statements

n €8.8 million of costs incurred for contemplated acquisitions of major significance to the Group, potentially changing the Group’s form or character (transformational acquisitions), which primarily relate to the acquisition of Borsa Italiana Group; n €1.5 million of claims provision related to the trading platform outage on 19 October 2020; n €1.5 million of impact from the write-off / impairment of software; n €0.2 million of costs related to termination of contracts in Oslo Børs VPS;

n €0.8 million of litigation provisions attributable to individual legal cases; n €0.2 million of costs related to onerous commercial contracts. If the exceptional items were presented by nature, salaries and employee benefits would increase by €11.1 million (2020: €4.3 million), depreciation and amortszation would increase by €9.0 million (2020: €1.5 million) and other operational expenses would increase by €27.7 million (2020: €11.5 million). They relate to both income and expenses.

NOTE 13 NET FINANCING INCOME / (EXPENSE)

Year ended 31 December 2021 31 December 2020

In thousands of euros

Interest expense (effective interest method)

(40,295)

(17,043)

Interest in respect of lease liabilities

(718)

(525)

Other finance costs

309

306

Finance costs

(40,704)

(17,262)

Contingent consideration payables

—

394

Redemption liabilities

—

(131)

Change in fair value of financial liabilities Interest income (effective interest method)

—

263

1,479

1,029

Interest income from interest rate swaps

5,004

4,949

Hedging result

(698)

(27)

Gain / (loss) on disposal of treasury investments

(711)

84

Net foreign exchange gain/(loss)

1,238

(1,836)

Other net financing income/(expense)

6,312

4,199

TOTAL

(34,392)

(12,800)

The variance in other net financing income is primarily explained by foreign currency translation effects due to fluctuations in NOK. Hedging result consists of gains or losses resulting from the ineffective part of the fair value hedge (see Note 23). The interest income and interest expenses from CCP clearing business assets and liabilities are shown in net treasury income through CCP business (see Note 8.2).

When compared to prior period, interest expense for the year ended 31 December 2021 included i) the interest expense on the Bonds issued in May 2021 for the purpose of repayment of the drawdown of the bridge loan facility, which was used to finance the acquisition of Borsa Italiana Group (see Note 2 and 29), and ii) the accelerated amortisation of the bridge loan facility costs following repayment of the facility.

NOTE 14 RESULTS FROM EQUITY INVESTMENTS AND GAIN ON DISPOSAL OF SUBSIDIARIES

Result from equity investments

Year ended 31 December 2021 31 December 2020

In thousands of euros

Dividend income

25,712

1,646

TOTAL

25,712

1,646

252

2021 UNIVERSAL REGISTRATION DOCUMENT