Euronext // 2021 Universal Registration Document

Presentation of the Group 1 Description of the Business

1.3.4.3 Fixed Income trading Euronext Fixed Income trading is made up of two parts: 1) MTS (1) (wholesale) and 2) retail. MTS MTS is the leading regulated electronic platform for European wholesale government bonds and other types of fixed income securities, with over 500 unique counterparties trading over €140 billion (notional) per day. MTS Cash is a comprehensive and professional cash securities trading environment for the interdealer marketplace. MTS Repo is a venue for professional repo trading. MTS Bondvision is a trusted and efficient multi-Dealer-to-Client electronic cash bond and repo trading platform, providing institutional investors with real-time pricing and the ability to trade with the major dealers. Notional volume traded in MTS Cash hit all-time record levels in 2021, increasing by 72% to €23.9 billion per day in 2021 (2020: €13.9 billion per day) as markets were buoyed by steady government bond issuance and improved investor confidence which has been supportive of peripheral debt in particular. MTS Repo notional volume ended the year down -3% to €117 billion per day (2020: €121 billion per day).Throughout 2021, MTS continued to grow and develop its business. It recently launched MTS Alpha, a real-time unnetted and ultra-low latency tick-by-tick price feed for bond future deliverables that are traded on the MTS Cash markets for France, Germany, Italy and Spain. It also recently rolled out BV Composite, an offering derived from the latest real-time quotes received from the extensive network of BondVision dealers on the trading platform, which is designed to provide an accurate indication of market level for European Government Bonds (“EGBs”), Gilts, Sovereign, Supranational and Agency Bonds (“SSAs”), and covered bond sectors. MTS also continued to invest in BondVision, with consistent front-end improvements delivered with specific focus on Credit as well as sustained client acquisition. 2021 saw the launch of NGEU (NextGenerationEU) Bonds, and MTS is supporting this initiative by making these bonds available via a number of protocols, as well as real-time and end of day pricing information. Retail Euronext operates bond trading on its regulated market with a particular focus on the retail market. 104 (2) members trade 9,594 corporate, financial institutions and government listed bonds, representing a monthly turnover of approximately €14.5 billion. Euronext. Euronext also operates an Off-book On-Exchange (OBOE) reporting business in Oslo with 13 members reporting a monthly average of €9.2 billion. The new Liquidity Distributor scheme has been designed for specific members to publish marked up/aggregated liquidity of Euronext order book on their trading systems and distribution networks in order to increase matching opportunities on Euronext markets. Launched in 2020, it has proven to be successful and has become a permanent scheme. This scheme was given the green light by Euronext’s College of Regulators and was successfully implemented

in May 2020 with an initial pilot member that has ranked amongst Euronext’s top five members since that date, thanks to this scheme. In Milan, the successful public distribution/offering of 9 bonds (7 corporate and 9 Italian government bonds) led to a total of €9.6 billion raised. In the post-MiFID II environment, Fixed Income regulated markets remain active despite the low interest rate environment and the still on-going launch of the Pandemic Emergency Purchase Programme drying up liquidity on secondary markets. 1.3.4.4 FX trading In 2021, Euronext FX – Euronext’s Electronic Communication Network (“ECN”) for spot foreign exchange (“FX”), precious metals, and its ECN for non-deliverable forwards (“NDFs”) through Euronext FX’s Euronext Markets Singapore subsidiary – continued to grow its business successfully despite the unprecedented circumstances of the pandemic, as a result of continued growth in client acquisition and effective liquidity management for existing clients. Euronext FX also continued to develop and expand its market data offerings, with the launch of several new products. 1.3.4.5 Power trading Euronext operates power markets through Nord Pool, of which it owns 66%. Nord Pool operates the leading power market in Europe and operates across 16 European countries including the Nordics, Baltics, the UK and Ireland in addition to France, Germany, Austria, Belgium, the Netherlands, Luxembourg and Poland, while also servicing power markets in Croatia and Bulgaria. Nord Pool offers platforms for power trading – day-ahead and intraday (continuous trading) – and clearing and settlement, compliance, transparency and data services, under one roof. Nord Pool delivers simple, efficient and secure multi-market power trading. Nord Pool operates the physical power market, a short-term market where financial settlement takes place at the same time as physical delivery, a day after the trade has been made. As the central counterpart for all trades, Nord Pool ensures that all members are secured via bank guarantees or pledged cash and follows up, on a daily basis, to ensure that all members’ payments are executed in accordance with the settlement schedule. Nord Pool has more than 25 years of power market experience built on off ering flexibility, transparency, innovation, greater choice and participation to our customers. Today 360 companies from 20 countries trade on Nord Pool’s markets. During 2021, a total of 963 TWh (3) of power was traded through Nord Pool (made up of buy volume of 462 TWh and sell volume of 501 TWh). The Nordic and Baltic day-ahead market traded 722.5 TWh and the UK day-ahead market 147.3 TWh, while Nord Pool’s central European (CE) day-ahead market (covering Austria, Belgium, France, Germany, Luxembourg, the Netherlands and Poland) achieved 68.2 TWh of power traded by year end. Total intraday trading for the year, across all markets, stood at 25.18 TWh.

(1) MTS is 62.52% owned by Euronext. (2) This figure does not include Oslo members. (3) Trading volume quoted for Nord Pool’s markets comprises all buy volume (total volume bought per hour by market participants) plus all sell volume (total volume sold per hour by market participants) within each bidding zone.

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2021 UNIVERSAL REGISTRATION DOCUMENT