Euronext // 2021 Universal Registration Document

Risk management & Control Structure 2 Risk Factors

EMPLOYEES RISK

Risk Identification and Description

Potential Impact on the Group

Euronext success depends upon the experience and industry knowledge of its senior management and other key employees to operate the business and execute business plans, particularly in the area of information technology. The Covid-19 pandemic has shifted employee priorities and labour conditions, creating (high demand) for financial services, compliance and IT resources and offering improved employment opportunities. The large number of on highly technical projects push the bandwidth of certain high demand teams, and may potentially contribute to employee turnover. Euronext recognises there is a shortage in the employment market for specialists in a number of fields, such as information technology and product niches. In these areas, the Company competes for staff with a large number of other enterprises. The ability to attract and retain key personnel is dependent on many factors including market conditions, compensation and retention arrangements and Group evolution. It is expected to become increasingly dependent on the Group’s ESG strategy, with respect to the broader Group strategy, in addition to employee working conditions. Euronext operates in a highly regulated environment with multiple regulators. As a result, many aspects of Euronext’s business involve the potential risk that one or more of the Group’s entities may fail to comply with the regulatory or contractual requirements to which it is subject. Compliance risk may arise under laws and regulations relating to financial markets and services, insurance, tax, employee behaviour, misuse of data and intellectual property of others, market abuse, corruption, anti-money laundering, financial sanctions, foreign asset controls, and data privacy and foreign corrupt practices areas. This risk also includes potential liabilities from disputes over terms of a securities trade or from claims that a system or operational failure or delay caused monetary losses to a customer, claims that the Group facilitated an unauthorised transaction or that it provided materially false or misleading statements in connection with a transaction as well as employment and competition matters and other commercial disputes. REGULATORY AND LIABILITIES RISK Risk Identification and Description

The Company’s success depends in part upon its ability to continue to attract, develop and retain key staff members in a number of business areas. A loss of, or an inability to attract skilled senior management and other key staff could have a material adverse effect on the business, putting pressure on costs, impacting the delivery of projects, results of operations, financial condition and cash flows. Employee turnover is not however expected to impact the business and operational resilience of the Group. Should the Group fail to meet ESG expectations, the Group’s ability to motivate and retain existing employees in addition to attracting new employees may be adversely impacted.

Potential Impact on the Group

Euronext could be exposed to fines or sanctions from relevant regulators, authorities or a court, which could be significant and may expose the Group to significant reputational damage. In addition, Euronext could incur significant legal expenses in defending claims, even those without merit. Any adverse resolution of any lawsuit or claim against the Group may require it to pay substantial damages or impose restrictions on how it conducts its business, any of which could have an effect on both the business and financial results, and the reputation of the Group.

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2021 UNIVERSAL REGISTRATION DOCUMENT