Euronext // 2021 Universal Registration Document

Risk management & Control Structure 2 Risk Factors

2.1 Risk Factors

HIERARCHY OF RISK FACTORS

Russia / Ukraine War Risk Strategic Risks

Strategic Transformation Risk Regulatory Evolution and Enhanced Regulatory Scrutiny Risk

Global and Regional Economy Risk Competition on Capital Markets Risk Cyber Security Risk Technology Risk Change and Integration Management Risk Third Party Risk Employees Risk Regulatory and Liabilities Risk Ownership and Intellectual Property Risk

Operational Risks

Financial Risks

Credit Risk Market Risk Liquidity Risk Capital Requirements Risk

Our people

Our society

Our partners

Our market

Our environment

The risk factors annotated by a reference symbol indicate material business risks that have an ESG dimension and link to the key ESG issues as identified by the Group’s external stakeholders in the Group ESG materiality matrix (see Section 3.1 – Value Creation by Euronext for more information) labelled under 5 impact areas have been identified according to these categories.

Euronext recognises the importance of environmental, social and governance (“ESG”) related risks. Based on our 2021 risk analysis, no material residual (unmitigated) ESG core business risks have been identified as impacting the operations, revenues and stakeholders of the Group.

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2021 UNIVERSAL REGISTRATION DOCUMENT