MAIN DRIVERS OF EURONEXT’S TRANSACTIONAL BUSINESS Volume and yield are the main top line drivers of Euronext’s volume related business Volume impact Yield performance 7,0 5,4 5,5 6,5 8,3 8,3 0,523 0,505 0,492 0,501 0,465 0,478 Historic 68% 67% 66% 64% 64% 61% trend 2011 2012 2013 2014 2015 Q1-16 2011 2012 2013 2014 2015 Q1-16 Cash trading ADV (€bn) Market Share (%) Yield (bps) Outlook Low single digit growth per year over the period and Ongoing challenge around yield maintenance stable ~60% market share 843 653 576 565 529 563 0,424 0,369 0,332 0,322 0,328 0,314 Historic Derivatives trend 2011 2012 2013 2014 2015 Q1-16 2011 2012 2013 2014 2015 Q1-16 trading ADV (€bn) Yield (in bps per lot) Outlook Mid to high single digit growth per year over the period Pressure on revenue capture will continue but most of and slight market share recovery the fee adjustments have already been performed Base Best Base Best Impact on revenues +€35m Management +€65m -€28m Management -€14m 1 upon scenarios +€50m -€21m AGILITY FOR GROWTH 1.Excluding clearing operations 104