Euronext // 2021 Universal Registration Document

Financial Statements 8 Notes to the Consolidated Financial Statements

Set out below is the movement in the allowance for expected credit losses of trade and contract receivables:

2021 3,378 2,237

2020 1,618 2,133

In thousands of euros

As at 1 January

Provision for expected credit losses

Receivables written off during the year

(675)

(373)

AT 31 DECEMBER

4,940

3,378

Management considers the fair value of the trade and other receivables to approximate their carrying value. The significant changes in loss allowance provision are disclosed in Note 8.1.2. The information about the credit exposures of trade and other receivables are disclosed in Note 37.4.

NOTE 22 OTHER CURRENT ASSETS AND DISPOSAL GROUPS HELD FOR SALE

Other current assets

2021 21,573

2020 13,810

In thousands of euros

Prepayments

Other

—

—

TOTAL

21,573

13,810

The increase in prepayments is primarily due to the acquisition of Borsa Italiana Group in 2021.

Disposal groups held for sale

2021 6,436 (1,321)

2020

In thousands of euros

Assets from disposal groups

— — —

Liabilities from disposal groups

TOTAL

5,115

The Group assessed some individually immaterial investments in subsidiaries, acquired as part of the acquisition of Borsa Italiana Group, as disposal groups held for sale on acquisition (see Note 5).

The majority of the balances relate to subsidiary MTS Markets International Inc. The assets from disposal groups held for sale include cash and cash equivalents for €5.0 million.

NOTE 23 DERIVATIVES FINANCIAL INSTRUMENTS

interest rate of 1% and pays a variable rate of six-month EURIBOR, plus a weighted average spread of 0.3825%. At 31 December 2021, the rate applicable to the floating leg of the swap for the aggregated notional amount of €500.0 million was -0.141%. The swaps are being used to reduce the variability of the fair value of the 1% fixed rate Bond (Senior Unsecured note #1) attributable to the change in interest rate, allowing it to transform the fixed rate exposure to floating rate. There is an economic relationship between the hedged item and the hedging instrument as the terms of the interest rate swaps match the terms of the fixed rate Bond ( i.e. , notional amount, maturity,

The Group may use derivative instruments to manage financial risks relating to its financial positions or risks relating to its ongoing business operations. The Group’s risk management strategy and how it is applied to manage risk is further explained in Note 37.

Derivatives designed as hedging instruments

Fair value hedge At 31 December 2021, the Group had three interest rate swap agreements in place with a total notional amount of €500.0 million (2020: €500.0 million) whereby the Group receives an annual fixed

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2021 UNIVERSAL REGISTRATION DOCUMENT