EURONEXT_Registration_Document_2017

FINANCIAL STATEMENTS

Notes to the Consolidated Financial Statements

The significant actuarial assumptions were as follows:

2017 BELGIUM PORTUGAL

FRANCE

Discount rate

0.5%

2.2%

1.9%

Salary growth rate

0.0%

2.0%

1.8%

Pension growth rate

0.0%

2.0%

0.0%

2016 BELGIUM PORTUGAL

FRANCE

Discount rate

0.3%

1.9%

1.4%

Salary growth rate

0.0%

2.0%

2.5%

Pension growth rate

0.0%

2.0%

0.0%

The Group derives the discount rate used to determine the defined benefit obligation from yields on high quality corporate bonds of the duration corresponding to the liabilities. As of 31 December 2017, the sensitivity of the defined benefit obligation to changes in the weighted principal assumptions were:

IMPACT ON DEFINED BENEFIT OBLIGATION CHANGE IN ASSUMPTION INCREASE IN ASSUMPTION

DECREASE IN ASSUMPTION

Discount rate

0.25%

-4.7%

5.0%

Salary growth rate

0.50%

2.0%

-1.8%

Pension growth rate

0.50%

4.2%

-3.9%

The pension plan assets allocation differs per plan. On a weighted average basis, the allocation was as follows:

2017

2016

FAIR VALUE OF PLAN ASSETS in thousands of euros

FAIR VALUE OF PLAN ASSETS in percent

FAIR VALUE OF PLAN ASSETS in thousands of euros

FAIR VALUE OF PLAN ASSETS in percent

PLAN ASSETS Equity securities

6,005

28.4%

5,611

27.8%

Debt securities

12,487

59.0%

11,737

58.1%

Property

648

3.1%

672

3.3%

6

Investment funds

1,694

8.0%

1,606

7.9%

Cash

329

1.5%

587

2.9%

TOTAL

21,163

100%

20,213

100%

The maturity of expected benefit payments over the next ten years is as follows:

AS AT 31 DECEMBER 2017

LESS THAN A YEAR BETWEEN 1-2 YEAR BETWEEN 2-5 YEARS BETWEEN 5-10 YEARS

TOTAL

Pension benefits

181

267

1,666

4,567

6,681

The weighted average duration of the defined benefit obligation for retirement plans is twenty years at 31 December 2017. For 2018, the expected obligations contributions are approximately €0.1 million.

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2017 REGISTRATION DOCUMENT