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EURONEXT CSR INVESTOR TOOLBOX

June 2019

Overview

Euronext CSR Investor ToolboxJune 2019

WHAT IS EURONEXT?FAMILY OF 7 LOCAL EUROPEAN MARKETS GROWING AND THRIVING TOGETHER

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7 local markets, with CEOs of each country

seating at the Group Managing Board2)

Largest liquidity pool as #1 cash trading venue

in Continental Europe with €8.1bn traded on average /day

1,300 equity issuers - #1 listing venue in

Europe

A multi-national team in 14 countries of 848 people

€3.4tn market capitalization on our markets

#1 exchange for SMEs in Europe with 950+ SMEs listed

All data are provided at year end 2018 and thus do not include the contribution from Oslo Børs VPS1) Euronext London is recognised as a Recognised Investment Exchange (RIE) by the Financial Conduct Authority (FCA)2) Euronext completed the acquisition of 97.8% of Oslo Børs VPS on 18 June 2019, the integration is ongoing and

appointments subject to regulatory and shareholders approvals will occur in due course

Best-in-class in regulation compliance

Paris

Porto

Lisbon

Dublin

London1)

MunichZurich

Amsterdam

Brussels

Milan

Madrid

Euronext historical presence

Euronext Tech hub expansion

Regulated markets

Technology center

Sales office

Headquarters

Oslo2)


EURONEXT’S DEVELOPMENT SINCE 2000

FX trading

• US electronic communication network platform for spot FX

• Acquisition of a 90% stake in FastMatch

May 2017

September 2017

• Launch of a European Tech SME initiative beyond core domestic markets, opening offices in four new countries –Germany, Italy, Spain and Switzerland

Tech Hub InitiativeCorporate services

February 2017

• Acquisition of 51% • Comprehensive

range of webcast, webinar and conference call services for Investor Relations and corporate events

Corporate services

• Acquisition of 60%• Dematerialized

board portal solution and decision making tool for corporates and public organisations

July 2017

• Acquisition of an 11.1% stake in LCH SA

• Renewal of 10-year clearing of financial derivatives contract

August 2017

Multi-asset clearing

Recent developments

4

Corporate services

• Acquisition of 80%• Management of

insider lists

January 2018

Research services

• Acquisition of 78%• Research and

commission management for buy side/sell side

December 2018

RENEWAL OF CLEARING AGREEMENT AND 11.1% of LCH SA

MERGER OF AMSTERDAM, BRUSSELS & PARIS EXCHANGES

ACQUISITION OF LIFFEACQUISITION OF LISBON EXCHANGE

MERGER WITH NYSE GROUP

ACQUISITION BY ICE CARVE-OUTCREATION OF “NEW EURONEXT”

2000 2002 2007 2013 03/2014

« Old Euronext N.V.» NYSE Euronext ICE Group, Inc.

2001IPO

06/2014IPO

LAUNCH OF “AGILITY FOR GROWTH”

05/2016

2003

DISPOSAL OF CLEARNET DISPOSAL OF LIFFE

03/2014 2018

ACQUISITION OF THE IRISH STOCK EXCHANGE

2017

ACQUISITION OFOSLO BØRS VPS

2019


LISTING

CASH & DERIVATIVES TRADING

MARKET DATA

Equity and debt issuers (large caps, SMEs)

Brokers , traders and retail & institutional Investors1)

Index users, Data providers, banks

Single Order Book

Harmonized rule book

AMSTERDAM | BRUSSELS | DUBLIN | LISBON | LONDON | OSLO | PARISHong Kong | New-York | Porto

CAC 40

AEX

BEL20

PSI20

Home of the:

TECHNOLOGY Exchanges, banks

POST TRADEBanks (securities services),

issuers

Excluding Oslo Børs VPS1) Indirect users2) Spot FX trading on FastMatch trading platform

€1.0trnraised on our markets in 2018

Investors

Issuers

5

EURONEXT: AN OPERATING MODEL, HIGHLY SCALABLE

Optiq

SPOT FX TRADING2) Brokers, traders & institutional Investors1)

• A unique gateway for investors to access our markets

• State-of-the-art new trading platform Optiq®

• Transparent cross-border trading of securities on one single trading line

• Ability to easily integrate and support local products and specificities

• Enabling issuers to remain multi-listed more efficiently

ISEQ20

CORPORATE SERVICESListed & non-listed issuers,

corporates

INVESTOR SERVICESBroker dealers,

institutional Investors


THE LEADING PAN-EUROPEAN EXCHANGE IN THE EUROZONE

LISTING TRADING

POST-TRADEMARKET DATA & INDICES

TECHNOLOGY

Cash▪ Q1 2019 Cash Equity Market Share: 66.1%

▪ Q1 2019 Cash ADV: €7.2bn on five regulated markets

Derivatives

▪ Q1 2019 Derivatives ADV: 586k lots

▪ Large range of options on stock and derivatives on indexes such as the CAC40, AEX, BEL20 and PSI20

▪ CAC40 futures contract, Europe’s second most heavily traded index future overall

▪ Strong offer of commodity derivatives: Milling wheat contract, European benchmark for physical milling wheat

Spot FX

▪ Q1 2019 spot FX ADV: $19.8bn

▪ Leading edge technology

▪ Largest listing franchise in continental Europe, as of March 2019, with

▪ 1,300 issuers worth

▪ €3.5trn in market capitalization

▪ Largest centre for debt and funds listings in the world

▪ Over 37,000 corporate, financial and government listed securities

▪ Strong presence within the Morningstar® Eurozone 50 Index℠ , listing 24 out of 50 companies

▪ Pan European Market Data offering▪ ~120k screens ▪ >400 vendors

▪ Complete market data for over 300 real time Indices compiled by Euronext including the key national indices for the Euronext markets: AEX, CAC40, BEL 20, ISEQ 20 and PSI 20

▪ Proprietary leading-edge trading technology Optiq▪ Innovative projects:

▪ Blockchain initiative with LiquidShare▪ Big Data platform

Clearing▪ Cash equities clearing: user preferred

model with LCH S.A and EuroCCP▪ Derivatives products clearing through

LCH S.ACustody & Settlement▪ Interbolsa: the Portuguese Central

Securities Depository, connected to Target 2 Securities, and licensed to operate under new CSDR

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Excluding Oslo Børs VPS

INVESTOR SERVICES

▪ Saas provider of research evaluation and commission management solutions for financial services firms


EURONEXT IS THE LARGEST LIQUIDITY POOL IN CONTINENTAL EUROPE

• The Single Order Book, a unique gateway for investors and liquidity to access our markets

• >5,000 active institutional investors

• ~180 market members,

• Powered by the most advance trading technology, Optiq®

• €8.1bn daily average value traded in 2018 on cash markets

• Ability to easily integrate and support local products and specificities

• Enabling issuers to remain multi-listed more efficiently

Easier capital increases or operations

Enhanced liquidity

Visibility to international

investors

Key benefits for issuers:

Single Order Book

Issuers

Investors

Investors

Investors

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Issuers

Access to more industry-specialised

analysts and investors

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A STRONG AND DIVERSIFIED COMPANY: AT A GLANCE

8

Revenue in 2018

€615.0m Cash trading

Derivatives trading

Client flow origins1)

(ADV as of 31/12/2018)

2018 financials are audited and include Euronext Dublin for 9 months of consolidation.Oslo Børs VPS not included in this slide 1) Both legs of the transaction are counted (double counted)2) As of 07/06/19

EBITDA MARGIN

57.6%

HEADCOUNT

848(as of 31 Dec.

2018)

EURONEXT MARKET CAP.

€4.5bn2)

NET PROFIT

€216.0m

45.4%

16.6%

10.8%

9.4%

7.9%

2.7% 2.1% 0.3%

3.9%

USA

France

Switzerland

United Kingdom

The Netherlands

Germany

Ireland

Belgium

Portugal

Others

Japan

Italy

28.0%

14.7%

5.7%12.9%

29.5%

1.7%

6.7%

0.4%0.1%

Listing 106.5

Cash trading210.9

Derivatives trading 43.9

FX Spot trading 21.7

Advanced data services

118.3

Clearing 55.3

Custody & Settlement

22.1

Euronext Technologies

and others36.1


A STRONG AND DIVERSIFIED COMPANY: REVENUE DRIVERS

9

▪ Initial admission fees based on market capitalization / money raised (capped), fees on money raised for follow-ons (capped)

▪ Annual fees based on market capitalization / outstanding securities (capped)

▪ Transaction-based fees charged per executed order and based on value traded

▪ Transaction-based fees charged per lot

▪ Fees from the settlement of trades/instructions and the custody of securities at Interbolsa (Portuguese CSD)

▪ Clearing revenue from treasury services and cleared derivatives trades cleared through LCH.Clearnet S.A

▪ Fees charged to data vendors and end users, based on the number of screens

▪ Licenses for non-display use and historic data and for the distribution to third parties.

▪ Software license fees▪ IT services provided to third-party market operators▪ Connection services and data center co-location services based on

the numbers of cabinets and technical design

LISTING

CASH TRADING

MARKET DATA

POST TRADE

DERIVATIVES TRADING

MARKET SOLUTIONS

Revenue drivers% of 2018 Group

revenue

17%

34%

7%

13%

19%

6%

% of non-vol. related

90%

0%

0%

28%

100%

100%

All proportions are based on 2018 annual audited figures.Volume-related businesses include IPO fees, cash and derivatives trading and clearing revenue. Follow-ons, bonds and other listing revenues are considered as non-volume related due to their lower volatility.Euronext Dublin contribution – consolidated from Q2 2018 (9 months in 2018), Excluding Oslo Børs VPS1) Accounting for Commcise acquired in December 2018, thus not reflected in 2018 figures

▪ Transaction-based fees charged per executed order and based on value traded

SPOT FX TRADING

4% 0%

▪ Based on recurring software licence feesINVESTOR SERVICES1) n/a 100%

Capital and Governance


15 €

20 €

25 €

30 €

35 €

40 €

45 €

50 €

55 €

60 €

65 €

70 €

Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18

ENX SBF 120 rebased

EURONEXT SHARE AND CAPITAL STRUCTURE

11

Shareholding structure (Ref Shareholders Locked up until June 2021) Reference Shareholders

▪ Market Capitalization as of 07/06/2019: €4.5bn ▪ Bloomberg / Reuters: ENX:FP / ENX.PA▪ Indices presence: SBF120, NEXT 150, CAC MID 60

Share price

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Board of Directors

▪ 8 seats o/w one third appointed by Reference Shareholders

▪ Stéphane Boujnah serves as Chairman of the Managing Board

▪ More than 63% independent members at the Supervisory Board

▪ Number of female members in line with AFEP MEDEF guidance

▪ Created on 15 March 2014

▪ Headquartered in Amsterdam, NL

▪ Listed on Euronext markets (Paris, Amsterdam, Lisbon, Belgium) in 2014

▪ Market cap. EUR 4.5bn as of 07 June 2019

Company and Share Information

€64.00+227%

+19%

Price at IPO€20.00

% ownership

Euroclear Plc 8.00%

BNP Paribas SA 2.22%

SFPI-FPIM 4.50%

Caisse Des Dépôts & Consignations 8.00%

ABN AMRO Bank NV 0.55%

Total reference shareholders 23.27%

Reference Shareholders

23.27%

Treasury shares0.52%

Employees0.21%

Free Float76.00%


EXPERIENCED MANAGEMENT TEAM

12

Stéphane BoujnahGroup Chief Executive Officer

Maurice van TilburgCEO Euronext Amsterdam,Head of Market Operations

Anthony AttiaCEO Euronext Paris,Head of Global Listing

Vincent Van DesselCEO Euronext Brussels

Giorgio ModicaChief Financial Officer

Amaury HoudartChief Talent Officer

SUPERVISORY BOARD8 seats o/w one third appointed by Reference Shareholders

MANAGING BOARDCatherine LanglaisGeneral Counsel

Alain CourbebaisseChief Information & Technology Officer

Chris ToppleCEO Euronext London,

Head of Global Sales

Daryl ByrneCEO Euronext Dublin,Head of Debt and funds listings and ETFs Simon Gallagher

Head of Cash & Derivatives

Extended Managing Board

Isabel UchaCEO of Euronext Lisbon and CEO of Interbolsa



Euronext Group N.V.

College of Regulators (COR)

REGULATION GOVERNANCE: A FEDERAL MODEL

EuronextParis

EuronextAmsterdam

EuronextBrussels

EuronextLisbon

EuronextLondon

Local RegulatorAFM

Local RegulatorFSMA

Local Regulator CMVM

Local RegulatorAMF

One Holding Company (Euronext Group N.V.), with separate legal entities in each of the jurisdictions,having a national licence to operate markets

Objectives of the MoU between the Euronext Regulators (updated MoU, June 2015)

▪ Co-ordinated supervision of the Euronext group

▪ Co-ordination with regard to approval of rules and regulations (dedicated working groups, Steering and Chairmencommittees)

▪ Co-operation between Regulators enhances harmonization in the context of the E.U. directives implementation

In addition, in the continental jurisdictions, also supervisory role and powers of the Ministries of Finance

Local Regulator FCA

13

EuronextDublin

Local Regulator CBI

This slide does not include yet the impact of the completion of the acquisition of Oslo Børs VPS

Corporate Social Responsability


EURONEXT CORPORATE RESPONSIBILITY MISSION STATEMENT

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OUR CORE VALUES

Deliver a high integrity ecosystem, for all its global stakeholders and its community, thereby contributing toenhancing the security and transparency of Euronext’s markets

Drive and facilitate sustainable finance, foster the dialogue between the various actors in the industry and contributeto the financing of the real economy in its transition to a sustainable society

Respect and develop its human capital which is critical to its business success and equip it with appropriate HumanResources policies

OUR COMMITMENT

UNITY INTEGRITY AGILITYENERGY ACCOUNTABILITY


EURONEXT COMMITMENT TO ETHICS

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▪ Reinforcing business integrity, policies and procedures.Notably around following themes:o conflicts of interesto inside information and personal tradingo confidential information and privacyo anti-money laundering, sanctions and anti-bribery o fair competition

Code of Business Conduct and Ethics Training and awareness

Euronext’s commitment to high ethical and legal standards of conduct remains a top priority, and the Groupaims to be a model for the industry by supporting the highest ethical standards in its dealings with itscolleagues, employees, business partners, customers and in its communities.

▪ Staff training and awareness sessions regularly conducted in all company locations to promote compliance and ethics standards.

▪ Training for each new employee is shortly after joining by the Euronext Compliance department.

▪ Specific training for teams identified as more exposed to certain risks.

▪ Ensuring compliance with the laws and promoting best practice as well as the higher ethical standard:

▪ anti-Money Laundering and Sanctions Policy and Guidance according to the 4th European Union AML Directive

▪ Market Abuse Regulation▪ anti-bribery policy and a conflict of interest policy

Compliance policies Whistleblowing program

▪ Whistleblowing Policy, allowing Employees to report in confidence alleged breaches of the laws or Company policies, and protects anyone who reports in good faith, ensuring that they shall in no way be put at a disadvantage by the Company as a result of the report.


COMMUNITY

17

Volunteering

Giving Visibility

Sponsoring and Donations

▪ Supporting staff to volunteer in the financial literacy field▪ Sponsorship or donations in Amsterdam, Brussels, Paris, Porto and London to support NGO,

associations and scholarships

▪ Putting Euronext resources, great visibility and business ecosystem relations to raise awarenessand promote leadership and best practices in this field.

▪ Companies, NGOs, non-profits, associations, foundations invited into Euronext’s opening and closing stock markets bell ringing events, conferences and seminars.

As a stock exchange operator, acting at the center of financial markets and communities, Euronext iscommitted to financial capability.

Euronext strives to improve financial capability far beyond its own company—seeking to reach employeesat its broad community of companies, as well as teachers, students, and people in its communities.

▪ Euronext’s employees volunteer for several organizations in all its European locations, Euronext helping to identify and select the themes and institutions with a wide offer of companysponsored initiatives, that most suit its employees wishes and abilities.


STAKEHOLDERS

18

Suppliers

Clients

Shareholders

Employees

NGOs

Regulators

Over 1,500 client meetings in 2018, over 27,000 e-mails exchanged and 10,000 calls with clients

280 investors meetings in 20188 investors conferences attented8 countries visited through roadshows

1,300 new suppliers screened in 2018, no rejectionAll subcontractor agencies in France screened

6 national regulatory authorities coordinatingtheir regulation and supervision of EuronextCoordinated approach to the exercise of their respective national supervision

UN Sustainable Stock Exchange Initiative MembershipTask Force on Climate-related Financial Disclosures

848 people in 14 countriesRegular leadership training16% of the annual salary increase budget spent on gender equality salary situations

As of 31 December 2018, excluding Oslo Børs VPS


MARKETSMATCHING BUYERS AND SELLERS IN VENUES THAT ARE TRANSPARENT, EFFICIENT AND RELIABLE

19

▪ Dedicating considerable time and resources to engaging with policymakers and regulators with a view to shaping positively the regulatory framework which governs our activities.

▪ It is also complemented by engagement of trade associations of which Euronext is a member, notably FESE at European level, as well as via various national associations

▪ Euronext Corporate Services offering assists companies and organisations in reducing their environmental impact

▪ Euronext Corporate Services supports the adoption of best practices in terms of good Corporate Governance and favors greater transparency and clarity in the way companies and organisations communicate

▪ Assisting family-owned businesses to familiarise with capital markets, both equity and bonds, giving them the information they need to bring their companies to the market.

Be the Spokesperson of the Sector

Financial and Regulatory Education of Issuers and Fostering Issuer-Investor Dialogue


ENVIRONMENTOFFERING ENVIRONMENTAL ADDED VALUE PRODUCTS…

20

28

€4.1bn

Raised in green bonds in 2018

47

▪ Partnership with the Finance For Tomorrow initiative, campaigning for the Paris ecosystem to play a leading role in the transition to a more sustainable finance

▪ Partnership with the Climate Bonds Initiative to provide support to green bond issuers.▪ More than €38 billion worth of green bonds issued from corporates through 83 deals since 2012.

▪ 15 ESG-related ETFs at the end of 2018, with the listing of 4 new ESG ETF, adding €818m in AuM▪ Recent academic research show correlation between ESG ratings and lower cost of capital, market-

based outperformance and accounting-based outperformance.

▪ Leading Cleantech SME franchise in Europe representing a total of €6.4bn in combined market cap.▪ Dedicated initiative supporting the financing of a greener economy:

o TechShare: 23 Cleantech SMEs part of the community learning how to leverage capital marketso Tech40 Index: 20% of the index is made up Cleantech SMEs

▪ Continuous expansion of ESG indices franchise for more than a decade. ▪ Indices offering covering the full scope of ESG thanks to Euronext’s strong partners expertise: Vigeo

Eiris, CDP, Carbone 4 and Mirova/ISS-OEKOM

20

€15bn

AuM linked to ESG-related ETFs

Euronext ESG Indices

Cleantech SMEs listed



ENVIRONMENT… WHILE CONTINUOUSLY SEEKING TO IMPROVE ITS ENVIRONMENTAL FOOTPRINT

2121

Building

Green IT

Sustainability

▪ Project launched aiming to be able to move IT infrastructure in the cloud. ▪ Reducing hardware and datacenter footprints by decommissioning old hardwares and switching to new

servers consuming 50% less than before

Ethical supply chain▪ Screening of all new vendors for any past or current sanctions and request to commit to Euronext Supplier

Code of Conduct, notably including provisions for environmental protection

▪ Recycling policy across all European premises▪ Upgrade of light and emergency power supply in Amsterdam premises▪ Promotion to employees of campaigns with environmental and solidarity purposes (“Paper for Food”)

▪ Rolls out of water-saving initiatives across the Group’s locations▪ Relocations of some offices to sustainable certified premises▪ Eco-friendly initiatives such as hosting bee hives on the roof


PEOPLEEMBEDDING OUR VALUES: UNITY, INTEGRITY, AGILITY, ENERGY AND ACCOUNTABILITY

22

GENDER EQUALITY

of employees received training over 2018

70%

98%of employees received an annual performance review in 2018

4 ExchangeLabcampaigns for employees to express and develop new ideas

Roadmap composed of 4 main pillars: - Engagement - Performance - Talent- Human Resources transformation

One Euronext Team

48 work councilsover 2018 in France, the Netherlands and Portugal, supporting a culture of social dialogue

22 nationalitiesNew Diversity Policy in 2018 to ensure an inclusive work environment

26% women in Senior Leadership, 33% at Group level Dedicated envelope to gender equality salary situations

WELLNEXTEncouraging Health and Safety at Work through fitness class, free fruit and regular health assessment

HUMAN RIGHTSNo exposure material to Labor / Human right risksCode of conducts for Suppliers



RISK

23

Environmental Impact & Green IT

Improving environmental credentials Reducing footprint

•Management of greenhouse gas emissions primary arising from energy, waste and water in offices and data centres, from staff travel, and indirectly from supply chain.

•Continuously reducing hardware and datacenter footprints. •New trading platform less hardware consuming•Use of cloud capabilities to increase level of

virtualization in the future.

Social

Maintaining highest standards & integrity Ongoing training and re-assessment

•Personal trading, Confidential and Insider Information, Insider traind and Conflicts of Interest Policy; •Anti-Fraud, Anti-Bribery and Anti-Money Laundering

and Sanctions Policies•Whistleblowing policy

•Regular training session for employees•Wellness programs proposed in most locations•Succession planning•Limited exposure to labor / human rights risk•Employee and suppliers codes of conduct

Governance

Highest standards of Corporate Governance Remuneration

•Euronext’s two-tiered board structure ensures strong oversight over management.•Euronext maintains a majority independent

Supervisory Board in order to ensure all shareholders are appropriately represented

•Ensuring that executive remuneration and non-executive director remuneration are not excessive with respect to market and sector peers•For executive directors, variable compensation is

aligned with Company performance


24

Amsterdam Brussels Dublin Lisbon and Porto Paris London

2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017

Gas (m3) 124,295 123,010 5,096 14,552.7 7,954 8,314 4,543.5 42,541

Water (m3) 4,842 4,943 337 1,408 86 301 1,169 2,125 4,270 2,925.8

Frozen water (m3) 243,188 233,219

Cold water production (mWh) 860 829

Electricity (KWh) 3,330,030 3,533,369 129,465 133,277 64,386 29,570 451,105 465,133 1,881,761 1,915,119 518,938 433,044

Oil (Diesel) (L) 4,500 4,500 90 90 550 550

Amsterdam Brussels Lisbon and Porto1) Paris London

2018 2017 2018 2017 2018 2017 2018 2017 2018 2017

Recycled paper (kg) 10,138 14,200 520 1,386 208.76 238.6 11,276.1 26,080.7 480

Ink cartridges (kg) 58 136 5.9 339.23 565 3.5 5

Batteries (kg) 29 26 12 15 50

1) These figures only concern Porto. There are no available information for Lisbon but 100% of paper, cartridges and batteries are recycled.

ESG DASHBOARDENVIRONMENTAL CREDENTIALS


25

ESG DASHBOARDCLIENTS AND SUPPLIERS CREDENTIALS

Clients and suppliers 2018 2017 2016

Transactions client meetings 1,500 1,400 750

Exchange of emails with clients 27,000 e-mails 28,000 e-mails 8,500 emails

Calls with clients 10,000 calls 13,000 calls 12,000 calls

Number of new suppliers screened 1,300 900 /

Net Promoting Score 2018 2017

Issuers +15 +9

Market Data +3 +15

Interbolsa +33 +47

Members +13 -15

Agility for Growthstrategic plan


ACHIEVEMENT ONE YEAR IN ADVANCE OF MOST OF THE 2019 TARGETS

27

Enhance Agility

Strengthen resilience of the core business

Grow in selected segments

€23.8m achievedGross cost savings

>65%Average market share on cash

trading since 2017

€14.6mRestructuring costs

€17.6m incremental revenue

generated in 2018

Good progress on Corporate Services,

traction on Tech SMEs initiative,ETF MTF to be live in 2019

1) Scope used for the 61-63% EBITDA margin 2019 target of Agility for Growth strategic plan (see press release published on 13 May 2016 available on www.euronext.com). Including IFRS 15 impact

Optiq® livefor Euronext cash markets and

market data

>50%Average market share on French

equity options

+2.0%CAGR2015-18 core business growth

Deliver value to shareholders

61.6% EBITDA marginFor core business and selected

growth initiatives1)

50% pay out with a floor at €1.42/share

~€340m capital deployed since 2016

of which ~€100m for bolt-ons

Clearing optionality for cash equities with LCH SA and EuroCCPRenewed 10-year contract with

LCH SA for derivatives

Vs. €22m target Vs. €33m expected

Vs. +2.0% CAGR2015-19

targetVs >60% and 50%

targets

Vs. €55m target in 2019

Vs. 61-63% target Vs. 50% target

http://www.euronext.com/


2019 COST GUIDANCE

28

In 2019, Euronext expects to limit the growth rate of its operating costs toa low single digit, despite the consolidation of Euronext Dublin for the fullyear of 2019

In 2018, Euronext has extended its scope of activity through acquisitions (€62.9 million revenue in 2018)

Most of the 2019 targets of the Agility for Growth plan have been achieved one year in advance✓

✓

Euronext provides for 2019 a Group cost guidance

✓

To simplify and improve the tracking of its performance, Euronext will now report only group performance (including selected growth initiatives and new perimeter)

Compared to Group operating costs excluding D&A for 2018 of €260.8m. For 2018, Euronext Dublin costs wereonly consolidated for 3 quarters. As a reminder, the operating costs for Euronext Dublin for Q1 2018 were €5.8m.

New mid-term targets will be presented in October 2019 as a part of the new strategic plan✓


Next stepsQ1 2019

SUCCESSFUL MIGRATION OF EURONEXT CASH MARKET TO OPTIQ®

29

Market Data Gateway for Cash and Derivatives

July 2017

Migration to Order Entry Gateway and matchingengine for fixed-incomeproducts

April 2018 June 2018

Migration to Order Entry Gateway and matching engine for all Cash markets

▪ Planned migration of Euronext Derivativesmarkets

▪ ETF MTF

H1 2018

▪ Operational cutting-edge proprietary technology with immediate benefits on performance, capacity and scalability

• Order roundtrip latency as low as 15 micro-seconds• Capacity multiplied by 10 vs. UTP

▪ Co-designed with market participants, harmonized access through all asset classes, supporting rich market models

▪ Agility and time-to-market for the launch of new products and new services

▪ Enhanced clients interaction capabilities, enhanced resilience, particularly during high volatility periods

Optiq® reinforces Euronext as an industry technology leader, and creates long-term and sustainable value…

H2 2017

▪ Reinforcing Euronext as an industry technology leader

▪ Enhanced value proposition to new exchanges joining Euronext and/or using Optiq®

▪ Optimized hardware footprint

… and

Shareholders

… for our

Clients

February 2019

Migration ofEuronext Dublin


WHAT IS OPTIQ AND WHO BENEFITS FROM OPTIQ?

30

PREMIUM LEVEL PERFORMANCE

FLEXIBILITY

INCREASED STABILITY

Leverage state-of-the-art technology toensure reliability, enhanced throughputand predictable latency.

Enhanced efficiency and performancethrough improved connectivity andprotocols, and optimised messagingmodel.

Euronext has launched Optiq, its new generation trading platform across Cash and Derivatives markets

Trading Members on Euronext Cash and Derivatives markets

Technology providers offering software and access to Euronext markets

Data vendors consuming Euronext Market data

Optimised order entry protocols, higherthroughput through new connectivitymodels and more transparency

Harmonised and faster market dataacross Cash and Derivatives markets

One single way to access Euronextmarkets, flexibility in developments fornew Euronext services depending oncustomers’ needs

50% Hardware footprint reduction

CAPACITY

99% on Equities

MARKET STABILITY

15 µsvs. 132µs on UTP

LATENCY

0 impacton optional

changes

CLIENT

DEVELOPMENT

45 minvs. 96 hours on

UTP

DEPLOYMENT

Unlimited scalability

CAPACITY

Expansion strategy


EURONEXT CAPITAL ALLOCATION POLICY

Disciplined approach to capital management

Key principles of capital allocation

▪ Preserve Euronext financial and strategic agility and create value for investors

▪ Disciplined and focused approach to capital allocation

▪ Flexibility to take advantage from selected strategic opportunities

▪ Proactive and periodic re-assessment of Euronext financial structure

Targets

▪ Investment grade profile

▪ Investments / M&A thresholds:

• ROCE > WACC in year 3

▪ Capital return to shareholders:

• Dividend payout: 50% of reported net earnings or floor as in 2017

• Possibility to consider extraordinary capital return to shareholders should material M&A not materialise

32


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EURONEXT, A GROUP IN TRANSFORMATION

1) Euronext London is recognised as a Recognised Investment Exchange (RIE) by the Financial Conduct Authority (FCA)

FX trading

• Fastest growing electronic communication network in the spot FX market

• Acquisition of a 90% stake

August 2017

Deployment of Agility for

Growth initiatives

Post-trade development

Asset class diversification

Corporate services

February 2017

• Acquisition of 51% • Comprehensive range of

webcast, webinar and conference call services for Investor Relations and corporate events

Corporate services

• Acquisition of 60%• Dematerialized board

portal solution and decision making tool for corporates and public organisations

July 2017

• Acquisition of a 20% stake in EuroCCP

• User Choice Clearing Model for Equity Markets

December 2016

Equity clearing

• 11.1% minority stake in LCH SA

December 2017

Multi-asset clearing

• 10-year agreement for the clearing of derivatives products

• Acquisition of 100% of the shares

• Expansion of Euronext federal model and debt franchise

Closed in March 2018

Irish Stock Exchange

Corporate services

• Acquisition of 80%• Management of insider

lists

January 2018

Expansion of the federal model

• European post-trading blockchaininfrastructure for the Small and Medium Enterprise (SME) market

July 2017

Blockchain

LIQUIDSHARE

Tech Hub Initiative

September 2017

• Launch of a European Tech SME initiative beyond core domestic markets, opening offices in four new countries – Germany, Italy, Spain and Switzerland –

Research services

• Acquisition of 78%• Research and

commission management for buy side/sell side

December 2018

Paris

Porto

Lisbon

Dublin

London*

MunichZurich

Amsterdam

Brussels

Milan

Madrid

Euronext historical presence

Euronext Tech hub expansion

Regulated markets

Technology center

Sales office

Stockholm

Headquarters

Oslo

• Acquisition of 98% of the shares

• Expansion of Euronext federal model and post trade franchise

Closed in June 2019

Oslo Børs VPS

2018 Financials


STRONG INCREASE OF EURONEXT PERFORMANCE THROUGH 2018

35

In 2018, Euronext has adopted IFRS 15. Unless stated otherwise, percentages compare FY 2018 and Q4 2018 data including IFRS 15 to respectively reported FY 2017 and Q4 2017 data (excluding IFRS 15). For further details, please refer to the appendix1) Formerly called Market Data and Indices2) Scope used for the 61-63% EBITDA margin 2019 target of Agility for Growth strategic plan (see press release published on 13

May 2016 available on www.euronext.com). Including IFRS 15 impact3) Definition in Appendix4) To be proposed to the 16 May 2019 General Meeting of Shareholders

+15.5%+€83m

€615.0m

+19.0%+€56m

€354.3m

ProposedDividend4)

€1.54/Share

€3.44+11.2%

+1.7 pts57.6%

Strong revenue growth thanks to good performance of core businesses notably cash trading and advanced data services1), recent acquisitions and growth initiativesQ4 revenue of €157.3m (+12.6% vs. Q4 2017)

Core business costs down (-4.3%) while Group costs up (+11.2%) mainly due to change of perimeter (Euronext Dublin, FastMatch and InsiderLog) EBITDA to cash flow conversion rate at 63%Q4 EBITDA of €86.9m (+10.5% vs. Q4 2017)

Core business and selected growth initiatives, excluding clearing, EBITDA margin2) at 61.6%€23.8m costs savings Q4 2018 Group EBITDA margin at 55.3% (-1.1pts vs. Q4 2017)

Double digit increase in Adjusted EPS3) of €3.44, up +11.2%Reported net income impacted by exceptional items and net financing expenses, and negative base effect due to 2017 positive one-offsQ4 adjusted EPS of €0.81 (-16.6% vs. Q4 2017)

Revenue

EBITDA

EBITDA Margin

AdjustedEPS

http://www.euronext.com/


Euronext Technologies & Other revenue also include €0.2m of other income in 2018 and €0.4m in 20171) Volume-related businesses include IPO revenue, cash, derivatives and Spot FX trading and clearing revenues.

Follow-ons, bonds and other listing revenues are considered as non-volume related due to their lower volatility2) Non-volume related businesses revenue divided by operating costs (excluding D&A)

2018

106.5

7.2Clearing

2017

Advanced Data Services

Derivatives trading

Custody, Settlement and other post-trade

Listing

FX trading

Euronext Technologies & Other revenue

21.7

Cash trading

532.3

615.0

33.8

104.7

20.6

51.1

40.3

36.3

190.3

118.3

22.1

55.3

43.9

210.9

84.2

+15.5%

+26.4%

+10.9%

+8.9%

+8.2%

+7.2%

+13.0%

+7.3%

2018 revenue up 15.5% to €615.0m (+€82.7m)

▪ Strong increase in listing revenue thanks to theconsolidation of Euronext Dublin and the goodperformance of Corporate Services

▪ Good trading performance across asset classes:

▪ Cash trading revenue +€20.7m

▪ Derivatives trading revenue +€3.6m

▪ 1st full year contribution of spot FX trading revenuefor €21.7m

▪ Strong post trade revenue up +€5.7m resultingfrom increased settlement and custody activityand good performance of the clearing business

▪ Strong performance of advanced data serviceswith revenue up +€13.6m thanks to new marketdata agreement

▪ Stable non-volume related revenue at 44%, in anenvironment of increased trading volumes

▪ Operating cost coverage ratio2) at 104% in Q4 2018

56%56%

Vol Related1)

2018 REVENUE UP 15.5% TO €615.0MSTRONG PERFORMANCE AND SUCCESSFUL INTEGRATION OF HIGHLY ACCRETIVE ACQUISITIONS

36


LISTING REVENUE UP 26.4% TO €106.5M IN 2018CONTRIBUTION OF EURONEXT DUBLIN AND CORPORATE SERVICES

Money raised

▪ Contribution of Euronext Dublin +€16.7m

▪ Continued clients traction from Corporate Servicesrecording €16.6m of revenue

▪ Lower primary market activity in a toughenvironment

▪ 33 new listings (29 in 2017)

▪ Strong traction from SME deals

▪ Stable secondary market activity supported by:

▪ SME projects raising financing for theirdevelopment

▪ Large M&A activities in Europe (UnibailRodamco, Essilor, Worldine)

# of listings

In €bn

Listing revenueIn €m

+4.1%

-14.4%

+35.5%

+18.7%

-21.8%

29 33

7.8

4.4

6.8

21.5

5.6

2017

Follow-ons

IPOs

106.5

Debt

ETFs, Funds & Warrants

Corporate Services

EquityAnnual fees

16.6Others

12.6

2018

10.6

84.2

10.69.1

22.8

20.1

18.4

23.7

+26.4%

9.5

2017

SMEs

7.1

789.4

Large Caps

2018

1,000.3

779.9993.2

+26.71%

37

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwiP8-u4t5zcAhWFY1AKHbXdAAQQjRx6BAgBEAU&url=https://www.easy-delivery.com/fr/livraison/roche-bobois-meubles-et-canapes-design/chili/&psig=AOvVaw1fidC0u8yxKlgjSI1kPmg2&ust=1531583349353231


CASH TRADING REVENUE UP 10.9% TO €210.9M IN 2018IMPROVED REVENUE CAPTURE AND VOLUMES

38

Average daily turnover2)

Cash trading: revenue up +10.9% to €210.9m

▪ Strengthened cash equity market share at 66.1%

▪ Cash ADV up +5.7%, supported by volatility peaksthrough the year

▪ Strengthened yield at 0.51bps, up +4.9% compared to2017, in an improved volumes environment, thanks toeffective yield management

▪ 1,150 ETFs listed at end of December 2018

▪ ETFs on-exchange volumes up +7.0% to €266m in 2018,supported by market volatility

Revenue per trade1)

Cash tradingMarket share for Q4 2018

In €m, single counted

In bps, single counted

66.1%

Vs. 64.4% in Q4 2017

473

323

2640

ETF

2018

7,132

2017

23 42

7,722

Bonds

Structured Products

Equities

7,671

8,109

+5.7%

0.49

2017 2018

0.51

+4.9%

1) 2017 revenue per trade excluding Euronext Dublin2) On and off book transactions, 2017 restated to include Euronext Dublin ADV


STRONG DERIVATIVES TRADING AND SPOT FX TRADING REVENUE IN 2018

Average daily volume Revenue per lot

Derivatives trading: revenue up +8.9% to €43.9m

Financial derivatives

▪ Volumes supported by volatility

▪ Increased revenue capture

Commodities

▪ New Market Participant programme continuing toattract new flows and fuel volumes

Derivatives trading

Spot FX trading

Average daily volume

In ‘000 lots, single counted In €, double counted

In $bn, single counted

Revenue contribution1)

In €m

75

164 156

275 293

2018

2

52

585

58

4

2017

57

EQUITY OPTS.

EQUITY FUTURE

INDEX OPTS

INDEX FUTURES

COMMODITIES

550

+6.4%

2017 2018

0.290.29

+2.3%

20.1

2017 2018

18.4

+9.3%

20182017

21.7

7.2

1) The planned non-recurring migration of open interest from TOM to Euronext over June 2017 took place at marginal rates due to the exceptional circumstances of the TOM closure

1) FastMatch consolidated for 1.6 months in 2017

FastMatch: €21.7m revenue from spot FX trading in2018

▪ Spot FX ADV up +9.3% to $20.1bn supported bycontinuing markets volatility through the year

39


OTHER BUSINESSESGOOD PERFORMANCE OF ADVANCED DATA SERVICES AND NON TRANSACTIONAL BUSINESSES

▪ Continued delivery of the first commercial releases ofOptiq® for international clients

▪ Increased activity from Managed Services solutions

▪ Increased activity from SFTI/Colocation services

▪ Positive impact of new market data agreements in 2018

▪ Good traction from indices business

▪ Incremental contribution from Euronext Dublin activities

▪ Increased clearing revenues resulting from dynamiccommodities activity during the year and higher treasuryincome

▪ Interbolsa benefiting from increased equities and publicdebt under custody and settlement activity in 2018

Advanced data servicesIn €m

Euronext technologies & Other revenueIn €m

Post tradeIn €m

20.6

51.1

Custody, Settlement &

other post-trade

Clearing

55.3

22.1

+8.2%

+7.2%

2018

2017

118.3

2017 2018

104.7

+13.0%

2017

33.5

2018

36.1

+7.8%

40


2018 EBITDA UP 19.0% TO €354.3MINCREMENTAL REVENUE FROM ACQUISITIONS COMBINED WITH CONTINUED COST DISCIPLINE

Other expensesEBITDA 2017 Revenue

-14.1

Staff

-3.9

Systems & Coms

-2.4

EBITDA 2018

-4.4

OtherProfessional Services

-1.5

297.8

354.3

82.7

+19.0%

EBITDA up +19.0% to €354.3m (57.6% margin), due to the consolidation of new businesses

▪ Impact of consolidation of Euronext Dublin, combined with the development of selected growth initiatives

▪ Cumulated Core costs savings: €23.8m (vs. 2019 target of €22.0m)

In €m

55.9%EBITDA margin

57.6%

41


-6.5

EBITDANet Income 2017

Equity Inv.D&A

56.5-6.7

Share of non controlling interests

Net Income 2018

-41.0

Net financing exp.

-1.7

Exceptional items

241.3

216.0

Income tax

-0.8

-25.2

-10.5%In €m

Net income down -10.5% to €216m, impacted by higher exceptional items, financing expenses and negative2017 base effect

▪ Exceptional items increased mainly due to contract terminations, restructuring costs and impairments

▪ Net financing expenses up, at €5.3m, primarily impacted by revaluation of some earn-outs

▪ Equity investments down mainly due to the 2017 one-off LCH stake swap capital gain (€40.5m)

▪ Income tax rate at 30.1%, increasing from 2017 marked by the release of a tax provision (€20.4m due to thelapse of the statute of limitations)

NET INCOME DOWN -10.5% IN 2018IMPACT FROM HIGHER EXCEPTIONAL ITEMS AND NEGATIVE 2017 BASE EFFECT

42


Appendix

43


CASH AND DERIVATIVES TRADING PERFORMANCE

Cash trading

ADV(in €m)

2015 2016 2017

20182015 2016 2017

8,1098,282

7,0127,671

-15.3%+9.4%

+5.7%

Yield

Market Share

66.1%

20182015 2016 2017

63.6% 60.9% 64.4%

20182015

0.510.50

2016 2017

0.47 0.50

Derivatives trading

ADV(in ‘000

lots)

Yield

491

2015

585529 550

20182016 2017

-7.2%+12.0% +6.3%

20172015

0.33

2016

0.29

2018

0.32 0.29

▪ Improved volumes:

▪ Best of Book▪ Non-member

Omega pack▪ Optimisation of

the SLP programme

▪ Efficient yield management

▪ Market share > 60% on equity

▪ Improved competitive landscape

44

2018


CASH – MARKET SHARE

45

2018 market share: 66.1% / Q1 2019 market share: 66.1%

20%

30%

40%

50%

60%

70%

80%

Euronext MTFs


SUMMARISED P&L

46

Unaudited, In €m Q1 2019 Q1 2018 % varOrganic growth

(like for like)

Revenue 152.6 150.5 +1.4% -4.7%

Listing 28.0 21.8 +28.1% +2.7%

Trading revenue 64.5 71.5 -9.8% -11.2%

Cash Trading 48.3 55.7 -13.3% -15.1%

Derivatives Trading 10.4 10.6 -1.5% -1.5%

Spot FX Trading 5.8 5.2 +10.4% +10.4%

Investor Services 1.1 - N/A N/A

Advanced Data Services 30.8 29.7 +3.8% +0.6%

Post-trade 18.7 18.5 +0.9% +0.9%

Clearing 13.2 13.0 +1.4% +1.4%

Custody, Settlement and other post-trade 5.5 5.5 -0.1% -0.1%

Euronext Technology Solutions & other revenue 9.3 8.9 +4.4% +0.2%

Other income 0.2 0.1 +279.6% -4.2%

Operational expenses excluding D&A -63.3 -58.5 +8.2% -2.1%

Salaries and employee benefits -33.1 -24.4 +35.6% +20.5%

Other Operational Expenses -30.3 -34.2 -11.4% -18.1%

System & Communication -6.3 -6.1 +4.1% -5.9%

Professional Services -9.2 -11.8 -21.5% -30.4%

Clearing expense -7.2 -7.2 +0.8% +0.7%

Accommodation -1.0 -2.6 -61.1% -65.9%

Other Operational Expenses -6.5 -6.6 -1.4% -9.1%

EBITDA 89.3 92.0 -3.0% -6.4%

EBITDA margin 58.5% 61.1% -2.6 pts -1.1 pts

Depreciation & Amortisation -8.8 -5.2 +69.0% +53.4%

Operating Profit before Exceptional items 80.4 86.8 -7.3% -10.0%

Exceptional items -3.3 -1.0 +227.8%

Operating Profit 77.1 85.7 -10.1%

Net financing income / (expense) 0.8 -0.4 N/A

Results from equity investments 2.0 1.5 +40.1%

Profit before income tax 80.0 86.8 -7.8%

Income tax expense -23.2 -26.3 -11.8%

Share of non-controlling interests -0.7 -0.4 +68.9%

Profit for the period 56.1 60.0 -6.6%

EPS Reported (in € per share) € 0.81 € 0.86 -6.6%

EPS Diluted (in € per share) € 0.80 € 0.86 -6.6%


FINANCIAL PERFORMANCE SINCE IPO

2018 figures are unaudited and include 9 months of consolidated revenue from Euronext Dublin2014 Total revenue and other income do not include ICE transitional revenue for an amount of €34m

41.7% 54.7% 57.2%

Reported earnings and dividend per share

EBITDA (in €m, based on 3rd party revenue)

Revenue (in €m, 3rd party revenue only)

2017

519

615

2014 2015 2016 2018

458

496

532

20162014

284

354

2015 2017 2018

191

284298

55.9%

201620152014 2017 2018

2.47

0.84

1.69

1.24

2.83

1.42

3.47

1.73

3.10

1.54

47

in €m 2014 2015 2016 2017 2018

Listing 61.7 70.5 68.7 84.2 106.5

Trading 212.0 241.7 220.8 237.9 276.6

of which Cash trading 165.6 197.2 180.7 190.3 210.9

of which Derivatives trading 46.4 44.5 40.1 40.3 43.9

of which Spot FX trading 7.2 21.7

Advanced Data Services 93.3 99.8 105.7 104.7 118.3

Post trade 57.3 71.7 67.6 71.7 77.4

Euronext Technologies and other revenue 33.4 34.1 33.0 33.5 36.1

Other income 0.6 0.7 0.6 0.4 0.2

Total revenue and other income 458.5 518.5 496.4 532.3 615.0

Staff expenses -124.0 -112.2 -99.8 -104.4 -118.5

Other operating expenses -143.1 -122.5 -112.8 -130.1 -142.3

EBITDA margin 191.4 283.8 283.9 297.8 354.3

EBITDA margin 41.7% 54.7% 57.2% 55.9% 57.6%

Depreciation and amortisatio -16.6 -17.1 -15.1 -16.9 -23.4

Operating profit before exceptional items 208.8 266.8 268.8 280.9 330.9

Exceptional items -44.6 -28.7 -10.0 -14.8 -21.5

Other items -1.9 0.5 5.2 45.0 2.3

Profit before income tax 162.3 238.6 264.0 311.1 311.7

Income tax expense -44.1 -65.9 -67.0 -68.9 -94.1

Non-controlling interests 0.0 0.0 0.0 0.9 1.7

Profit for the year 118.2 172.7 197.0 241.3 216.0

57.6%


BALANCE SHEET

Dividend paid (with regards to fiscal year, in €m)

Cash and cash equivalents (in €m)

Total equity (in €m)

Total debt (in €m)

342447

548729 802

2014 20182015 2016 2017

248

108 69165

505

20152014 2016 20182017

2014 2015 2016 2017 2018

59

8699

121

108

175

398

2014 2015 2016 2017 2018

242

159188

48

in €m 2014 2015 2016 2017 2018

Assets

Goodwill and other intangible asset 321.3 321.4 321.2 515.1 705.6

Other non-current assets 151.0 163.2 172.6 266.2 360.4

Total non-current assets 472.2 484.6 493.8 781.4 1,066.1

Other current assets 143.2 106.7 89.2 96.4 134.4

Cash and cash equivalent 241.6 158.6 174.5 187.8 398.0

Total current assets 384.8 265.3 263.7 284.2 532.4

Total assets 857.1 749.9 757.5 1,065.6 1,598.5

Equity and liabilities

Total equity 341.8 447.2 548.0 729.5 802.3

Borrowings 248.4 108.2 69.0 164.7 504.9

Other non-current liabilities 49.3 15.8 20.3 46.6 97.0

Total non-current liabilities 297.7 124.0 89.3 211.3 601.9

Total current liabilities 217.6 178.7 120.2 124.8 194.2

Total equity and liabilities 857.1 749.9 757.5 1,065.6 1,598.5


ADJUSTED EPS DEFINITION

49

In €m unless stated otherwise Q1 2019 Q1 2018 FY 2018 FY 2017

Net Income Reported 56.1 60.0 216.0 241.3

EPS Reported (€ per share) 0.81 0.86 3.10 3.47

Intangible assets adj. related to acquisitions (PPA) - 2.2 - 1.5 - 7.4 - 2.4

Exceptional items - 3.3 - 1.0 - 21.5 - 14.8

Results from Equity Investments (LCH swap capital gain) - - - 40.6

Tax related to those items 0.8 0.7 5.6 2.7

Adjusted for intangible assets related to acquisitions, capital gains or losses and exceptional items, incl. tax

Adj. Net Income 60.8 61.9 239.3 215.2

Adj. EPS (€ per share) 0.87 0.89 3.44 3.09


DISCLAIMER AND CONTACTS

This presentation is for information purposes only and is not a recommendation to engage in investment activities. The information and materials contained inthis presentation are provided ‘as is’ and Euronext does not warrant as to the accuracy, adequacy or completeness of the information and materials andexpressly disclaims liability for any errors or omissions. This presentation contains materials (including videos) produced by third parties and this content hasbeen created solely by such third parties with no creative input from Euronext. It is not intended to be, and shall not constitute in any way a binding or legalagreement, or impose any legal obligation on Euronext. All proprietary rights and interest in or connected with this publication shall vest in Euronext. No part ofit may be redistributed or reproduced without the prior written permission of Euronext.This presentation may include forward-looking statements, which are based on Euronext’s current expectations and projections about future events. By theirnature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and dependon circumstances that will occur in the future whether or not outside the control of Euronext. Such factors may cause actual results, performance ordevelopments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no undue reliance should be placed on anyforward-looking statements. Forward-looking statements speak only as at the date at which they are made. Euronext expressly disclaims any obligation orundertaking to update, review or revise any forward-looking statements contained in this presentation to reflect any change in its expectations or any change inevents, conditions or circumstances on which such statements are based unless required to do so by applicable law.Financial objectives are internal objectives of the Company to measure its operational performance and should not be read as indicating that the Company istargeting such metrics for any particular fiscal year. The Company’s ability to achieve these financial objectives is inherently subject to significant business,economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control, and upon assumptions with respect to futurebusiness decisions that are subject to change. As a result, the Company’s actual results may vary from these financial objectives, and those variations may bematerial.Efficiencies are net, before tax and on a run-rate basis, ie taking into account the full-year impact of any measure to be undertaken before the end of the periodmentioned. The expected operating efficiencies and cost savings were prepared on the basis of a number of assumptions, projections and estimates, many ofwhich depend on factors that are beyond the Company’s control. These assumptions, projections and estimates are inherently subject to significant uncertaintiesand actual results may differ, perhaps materially, from those projected. The Company cannot provide any assurance that these assumptions are correct and thatthese projections and estimates will reflect the Company's actual results of operations

Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located athttps://www.euronext.com/terms-use.© 2018, Euronext N.V. - All rights reserved.

Website: www.euronext.com/en/investors

Contact: Aurélie Cohen, Euronext Head of Investor Relations - [email protected] - +33 1 70 48 24 17

50

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