Euronext // 2021 Universal Registration Document

Risk management & Control Structure

Mitigation Measures

2.2 Mitigation Measures

Global and Regional Economy Risk Euronext considers international institutions’ economic outlooks and analyst forecasts to assess the level of this risk. For example, the COVID-19 crisis Euronext has demonstrated the resilience of its business model (diverse asset classes, geographic regions and other sources of income). Competition on Capital Markets Risk Innovation in the equity sector and movements in the competitive landscape are closely monitored and actions are taken to protect market share and develop new offerings to attract trading. Euronext is focused on delivering the highest quality liquiditymanagement with the aim of providing a deep pool of liquidity and best bid and offer. Euronext is subject to competition from peers in our local markets however; it equally competes with peers on their home markets. Euronext identifies unlisted companies andmaintains targeted pre-IPO educational programmes regarding themechanics of capital markets. Cybersecurity Risk The Group makes significant efforts to mitigate cybersecurity risks, whether from threat actors or vulnerabilities, frommaterialising by making targeted investments in people, processes and technology. The Group has a specific cybersecurity strategy, roadmap, and a Group-wide established governance model supported by dedicated resources. The roadmap and strategy are challenged by internal audits, external auditors and regulators from all countries where Euronext operates regulated markets. Euronext implements a security strategy and best practices aligned and certified in recognised global standards ( e.g. ISO9001, ISO 27001, NIST) and seek to ensure a high level of cybersecurity maturity. Despite the Group’s efforts, cybersecurity threats continue to grow in sophistication and thus the risk cannot be eliminated. Technology Risk The performance and availability of the Group’s systems are reviewed continuously and monitored to prevent problems when possible and responding, in a timely and efficient manner, when problems do occur. Euronext continuously invests in the development of its technology in order to maintain and ensure best in class service and capacity. Change and Integration Management Risk Euronext seeks tomanage the risks related to change and integration management by implementing an effective project management team that works with all relevant stakeholders to monitor and implement projects. Governance is an important control and is determined by scale, complexity and level of impact of the change. The risk management team actively follows projects to monitor and escalate risk when necessary. OPERATIONAL RISKS

The measures described in this section are presented to provide additional information on the Group’s efforts to seek to manage the likelihood, frequency, or impact of certain risks. Despite the measures noted, the Group’s efforts may not be successful in limiting or preventing these risks from materialising or may not achieve the intended benefits, therefore risks in Section 2.1 – Risk Factors remain material risks for the Group. Refer to Section 2.1 – Risk Factors for a discussion of the Risk Factors that may negatively impact the Group. RUSSIA / UKRAINE WAR RISK The Group has identified exposures to Russia in terms of business dealing, which are negligible, and is continuously monitoring sanctions to ensure compliance where appropriate. The Group has heightened cyber security and on-premise security monitoring to reduce the likelihood and impact of a successful attack. The Group is reinforcing business continuity plans to ensure the fair and orderly operations of its markets and the whole of its business in light of rapidly changing events. The Group has measures to ensure credit risk is managed while maintaining actiivty, Euronext has a revolving credit facility for general corporate purposes as well as a strong credit rating and high availability of liquid resources, thus the impact from liquidity risk is considered low. The Group’s CCP has multiple layers of defense against liquidity shortfalls including: minimum cash balances, collateral posting from members, access to contingent liquidity arrangements and access to intraday central bank liquidity. Strategic Transformation Risk Euronext closely monitors its transformation programs, which include formal frameworks that establish governance bodies to organize, implement and follow the integration of recently acquired entities. Group knowledge and expertise is increasing as the Group gains capacity, competence and experience in integrating new companies into the Group and delivering synergies. Regulatory Evolution and Enhanced Regulatory Scrutiny Risk Euronext actively monitors all relevant European and national legislative and regulatory policy developments and engages in regular discussions with issuers and trading members, European and national policy-makers, and regulators to provide input and respond to developments and consultations attempting to ensure an acceptable impact on our markets. However, Euronext remains subject to all applicable regulations and directives signed into law whether they be detrimental to Euronext’s business or not and may translate into an additional regulatory burden for the Group or its entities. STRATEGIC RISKS

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2021 UNIVERSAL REGISTRATION DOCUMENT