EURONEXT_Registration_Document_2017

RISKS

Strategic Risks

4

The format of Euronext’s Registration Document and the presentation of its Table of Content respect the requirements of Annex 1 of the Prospectus Directive EC 809/2004 as applicable in the Netherlands. Euronext as a leading financing centre in continental Europe is subject to risks and uncertainties that may affect its financial performance. Key risks specific to a pan-European exchange operator relate to the general economic development globally and especially in Europe, as well as increased regulation, oversight and taxation, all of which depend on policy decisions by governments and regulators and which are not controlled by the Company. As for any company, the business, results of operation or financial condition of the Company could be materially adversely affected by the risks described below. These are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently considers immaterial may also impair its business and operations. A description of the risk management system is provided in Section “Riskmanagement” (paragraph 2.2.1.1.).

Financial Risks

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Operational Risks

6

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2017 REGISTRATION DOCUMENT