Euronext // 2021 Universal Registration Document

Presentation of the Group

Description of the Business

1.3.6 INVESTOR SERVICES Through its subsidiary Commcise, Euronext offers independent, cloud-based, fully-integrated commission management and research valuation solutions to the buy-side, sell-side and research providers. The Commcise offer includes: n COMMCISE BUY offering automated trade reconciliation, algorithmic rules engine, invoice management, research evaluation / broker vote, consumption tracking (including an automated research valuation engine), commission budgeting, contract management, research accounting and reporting in a single fully-audited solution; n COMMCISE SELL , a cloud-based commission management platform for the sell-side. By providing a fully-audited and controlled platform that includes Commcise’s industry-leading algorithmic rules engine, invoice management, research accounting and reporting in addition to white-labelled portal, COMMCISE SELL allows brokers, research providers, custodians, fund accountants to manage commissions in any level of granularity required by their customers; n COMMCISE CS , providing research providers with a mechanism to supply cleansed research interaction data in any format to their buy-side clients. COMMCISE CS also helps research providers assess the profitability of clients by pricing, valuing and managing payments for contracted and à la carte research services to the buy-side using customised rate cards. With over 600 buy-side and sell-side clients globally, Commcise’s clients include some of the world’s largest institutional asset managers, hedge funds, brokers and research providers. POST TRADE The Euronext post-trade business is a combination of partnerships with, and minority stakes in, global market infrastructures (Euroclear S.A./N.V. and LCH SA), and local market infrastructure fully owned and operated by the Group (Euronext VPS, Interbolsa,VP Securities, Monte Titoli, all four now under the Euronext Securities brand and Euronext Clearing (formerly know as CC&G) CC&G (Euronext Clearing)). Partnerships and minority stakes The Group owns 11.1% of LCH SA and has a 10-year agreement with LCH SA for the provision of clearing services on Euronext derivatives markets Euronext also owns c.3.53% of Euroclear S.A./N.V., that provides custody and settlement services on several Euronext markets. 1.3.7

Euronext also operates and fully owns one central counterparty (“CCP”), Euronext Clearing, following the acquisition of the Borsa Italiana Group in April 2021. Euronext Clearing was incorporated in Italy in 1992, under the Supervision of Bank of Italy, and it is authorised to offer services and activities in accordance with European Market Infrastructure Regulation (“EMIR”). Euronext Clearing, Euronext’s Central Counterparty in Italy, is a multi-asset clearing house that provides proven risk management capabilities on 14 markets, across a range of trading venues including Euronext Milan, MTS, BrokerTec and Hi-mtf. Asset classes cleared include equities, exchange traded funds (“ETFs”), Closed-end Funds, Financial Derivatives, Commodities (Agricultural & Energy) and Fixed income (Cash and Repo markets). 1.3.7.1 Clearing Following the acquisition of Borsa Italiana in April 2021, Euronext does now operate a Central Counterparty (“CCP”) in Italy which clears the Borsa Italiana markets. However, on the non Italian markets, Euronext relies on strong partnership and contractual arrangements with external providers for the clearing of trades executed on its markets: n trades executed on Euronext derivatives markets are cleared by LCH SA according to a specific clearing agreement (the Derivatives Clearing Agreement); n trades executed on Euronext cash markets are cleared by LCH SA as the default CCP, according to a separate clearing agreement (the Cash Clearing Agreement), and by EuroCCP as an alternative option; n trades executed on Euronext Dublin are cleared by EuroCCP; LCH SA has also been available as an alternative option since September 2021; n trades executed on Oslo Børs cash markets are cleared by a set of three interoperable CCPs: EuroCCP, SIX x-clear and LCH Ltd. Euronext Clearing In November 2021, Euronext announced that it will grow CC&G into Euronext Clearing, making it Euronext’s CCP of choice for its cash equity, listed derivatives and commodities markets. Euronext will position Euronext Clearing as a European clearing house. This strategic ambition will allow Euronext to directly manage another core service for clients and create value through a harmonised clearing framework across Euronext venues. It will allow Euronext to align strategic priorities between trading and clearing, and significantly increase its footprint in the post-trade space. In addition, Euronext will be in an ideal position to innovate and improve time-to-market, notably on derivatives products, to serve the evolving needs of its clients. Revenue and costs contribution for this key project are part of the increased Borsa Italiana Group synergies target. Similarly, the necessary one-off costs to execute this project are included in the 2024 guidance. Euronext will continue to offer an open access CCP model for cash equity clearing, subject to regulatory approval.

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Fully owned post-trade infrastructure Euronext operates and fully owns.

Four CSDs: Euronext VPS (Euronext Securities Oslo), established in Norway, acquired in 2019 as part of the Oslo Børs VPS transaction; Interbolsa (Euronext Securities Porto), established in Portugal, VP Securities (Euronext Securities Copenhagen), established in Denmark, acquired in August 2020, and Monte Titoli (Euronext Securities Milan), that was acquired as part of the Borsa Italiana Group in April 2021;

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2021 UNIVERSAL REGISTRATION DOCUMENT