EURONEXT_Registration_Document_2017

CORPORATE GOVERNANCE

Dutch Corporate Governance Code, “Comply or Explain”

Provision of the Dutch Code regarding certain aspects of the remuneration policy of the Managing Board that Euronext did not apply in 2017:  Euronext did not apply best practice provision 3.2.3 ( “the remuneration in the event of dismissal should not exceed one year’s salary (the “fixed” remuneration component) . In the event of termination by the Company of a member of the Managing Board the Company has decided to align progressively all Managing Board members’ contracts on the same line as was decided at the time of recruitment of the Chairman of the Managing Board in September 2015, and disclosed at the Shareholders’ Meeting of 27 October 2015: the limitation to twelve months of fixed salary as provided in the Dutch Corporate Governance Code has been balanced against the French AFEP-MEDEF Corporate Governance Code recommendations, which provide for amaximum termination indemnity of twenty-four months compensation, fixed and variable remuneration. The termination indemnity has been limited to twice the annual fixed salary, which is in line with the relevant best practices in the various jurisdictions in which it is active. Managing Board members’ contracts have been amended to that effect.  Euronext did not apply best practice provision 3.4.1.iv (“the pay ratios within the Company and its affiliated enterprise and, if applicable, any changes in these ratios in comparison with the previous financial year”), due to the diversity of Euronext locations, each with different laws, regulations, best practices,

compensation practices, regulatory guidelines and views, no adequate methodology has been defined yet to report on a consistent and reliable pay ratio to be disclosed. Provision of the Dutch Code regarding meetings with analysts:  Euronext did not apply best practice provision 4.2.3 ( “meetings with analysts, presentations to analysts, presentations to investors and institutional investors and press conferences shall be announced in advance on the Company’s website and by means of press releases, enabling all shareholders to follow thesemeetings and presentations in real time,for example bymeans of webcasting or telephone” ): Euronext always ensures that all shareholders and other parties are provided with equal and simultaneous information about matters that may influence the share price through the distribution via an authorized wire. All material developments are disclosed via press releases and all presentations used during analysts and investors meetings are available on Euronext’s website at the time the presentation starts. Euronext also provides real time webcast and conference call facilities for all its results presentations and other financial presentations.

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2017 REGISTRATION DOCUMENT