Euronext // 2021 Universal Registration Document

Other Information

Our audit response related to going concern As disclosed in the “In Control Statement” as part of Section 4.2 in the universal registration document, management assessed Euronext N.V.’s ability to continue as a going concern and to continue its operations for at least the next twelve months. We discussed and evaluated this specific assessment with the managing board exercising professional judgment and maintaining professional skepticism. We considered whether the managing board’s going concern assessment, based on our knowledge and understanding obtained through our audit of the financial statement and otherwise, contains all events or conditions that may cast significant doubt on the company’s ability to continue as a going concern and whether the company will continue to comply with regulatory liquidity ans solvency requirements. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Based on our procedures performed, we did not identify serious doubts on the company’s ability to continue as a going concern for the next twelve months. Our conclusions are based on the audit

evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause a company to cease to continue as a going concern. Our key audit matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements. We have communicated the key audit matters to the supervisory board. The key audit matters are not a comprehensive reflection of all matters discussed. Following the acquisitions in Italy, Euronext N.V. is now owner of central counter party clearing activities in Rome and a new key audit matters has been identified regarding the accounting for the related clearing assets, liabilities and revenues. Compared to the last year the key audit matter on the impact of the COVID-19 pandemic is not included anymore. While the pandemic continues to impact normal operations and we continued to pay attention to this in our audit, including related fraud risk factors, we do no longer consider this as a key audit matter as uncertainties around this topic have diminished for Euronext N.V.

ACCOUNTING FOR ACQUIRED BUSINESSES Risk

During 2021 Euronext N.V. acquired all shares of London Stock Exchange Group Holdings Italia S.p.A. (Borsa Italiana Group). As disclosed in notes 2 and 5 to the financial statements considerations paid amounted to EUR 4,447 million. The acquisition has been included in the consolidated financial position and results of Euronext N.V. from29 April 2021, themoment control was obtained. Based on the purchase price allocations performed by management, with the support of external valuation experts, separately identifiable intangible assets of €1,844 million and goodwill of €2,815 million have been recognized. Accounting for business combinations involves a number of judgments, such as the identification of intangible assets, the choice of valuation techniques and underlying assumptions, as well as the allocation to cash generating units. The use of different techniques and assumptions could produce significantly different estimates. Given the size of the amounts involved and the inherent complexity, we consider this as a key audit matter. Our audit approach We gained an understanding of the business acquisition and made an assessment of the process that management has undertaken to determine the allocation of the purchase price, including understanding the scope of work, assessing the qualifications and competence of the external valuation experts and evaluating whether the correct accounting treatment has been applied in accordance with IFRS 3 “Business Combinations”. We tested the consideration paid and the related financing obtained through the incremental bond and share issues. Also we evaluated the identification and valuation of the identifiable tangible and intangible assets acquired, in particular the customer relations, software and brand names. We have audited the fair value measurements prepared by management and their valuation experts including assessing the key valuation assumptions used and engaged our own valuation specialists to evaluate the methodology and assumptions applied by Euronext N.V. Furthermore, we benchmarked key data inputs used in the valuation model such as the EBIT margin, longevity of acquired customer relationships and reviewed the reasonableness of the amortization period applied. Finally, we have evaluated the appropriateness of the disclosures related to business combinations. In particular we evaluated the disclosures on provisional amounts for the items for which the accounting may be adjusted retrospectively. We found the identification and measurement of the goodwill, identifiable assets and liabilities related to the acquisition of Borsa Italiana Group reasonable. The disclosures of the business combination is in accordance with the requirements under EU-IFRS. Key observations

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2021 UNIVERSAL REGISTRATION DOCUMENT