Q3’2015 Results

Q3’2015 RESULTS PRESENTATION 5 November 2015

CORPORATE HIGHLIGHTS Unprecedented third Significant listing quarter of the year for operations in an cash trading volumes usually low season Achievement of the first set of mid-term objectives as an By year-end expected independent company a StéphaneBoujnahwill CAGR of 9% to 10% in year in advance commence his new CEO revenues combined with role on 16 November 2015 €80m of net efficiencies achieved (run-rate) will Revised mid-term lead to an EBITDA margin objectives to be released of around 55% for the full- post arrival of Stephane €74m of cumulated year of 2015 Boujnahand a suitable efficiencies achieved period of acclimatisation (run-rate) 2

EURONEXT BUSINESS OVERVIEW

LISTING: MOMENTUM CONTINUES FROM A SUCCESSFUL 2014
Exceptionally strong performance in listing: revenues of €19.8m, +50.2% vs Q3 2014 in a Listing Fees conventionally unfavourable season
Strong increase in listing activity: total capital raised in Q3’2015 of €21.2 billion compared €19.8m to €14.8 billion in the same period last year (+43.3%). 1,1
Listing activity across Euronext markets was driven by: 2,3 €13.2m Bond Fees
Continued vigour in the IPO market with five SME and 1 Large Cap IPOs pricing in 3,8 Other Q3’2015; 0,9 Follow on 0,4 1,8 4,1
Other Fees in 2015 include centralisation fees from massive transactions, such as 2,6 IPOs Lafarge Holcim; Fixed fees
Good performance of EnterNext: 6 new listings or €1.5 billion raised in equity and 8,5 debt 7,5
Strong listing pipeline across various segments of Euronext (ABN Amro, Amundi…) Q3'2014 Q3'2015 Listing Activity (money raised in €m) Capital Raised Q3 New listings Equity 3% FO 19.8 18% 12.7 2.1 1.4 Bonds Q3'2014 Q3'2015 79% Large Cap SME 4

EXCEPTIONAL PERFORMANCE IN CASH TRADING REVENUE
Q3 revenues up +31.4% vs Q3’2014 – with average daily volumes reaching €8.2 billion, up +43.2% compared to Q3 2014
Acute concentration and materiality of successive rounds of volatility we saw in Q3’2015 to be seen as extraordinary and not as a guideline to Q4 activity
Steady 64.6% market share in Q3 thanks to continued focus on nurturing domestic market share and new structure of SLP programme
Slight increase in revenue per trade sequentially (from €0.47 in Q2’2015 to €0.48 this quarter)
Business development efforts continue to pay off in our ETF franchise with 14 new ETF listings and volumes up +104% in Q3’2015 vs Q3’2014, new record in ETF daily transaction value of €1,870 million on 25 August 2015 Average daily turnover Q3’15/Q3’14 (€mm) Revenue per trade (in Basis Point, Total cash trading revenues divided by Value traded) +43% +41% +104% +8.8% -33% 8,190 7,485 620 5,718 5,322 Q3-2014 0.52 304 Q3-2015 0.48 56 60 36 24 Q3'2014 Q3'2015 TOTAL CASH EQUITIES ETF STRUCT. PRODS BONDS Market share Market quality 80% 70% Blue Chips Presence EBBO with Relative Displayed 60% (30 time at greatest EBBO spread market September EBBO (%) size (%) setter (%) (bps) depth (€) 50% 2015) 40% Euronext 80% 46% 67% 6.18 63,149 30% BATS EU 27% 0% 2% 10.68 16,411 20% 2 2 2 2 2 2 3 3 3 3 3 3 4 4 4 4 4 4 5 5 5 5 5 Chi-X 65% 5% 19% 6.63 30,087 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Equiduct 2% 0% 0% 37.43 19,407 / / / / / / / / / / / / / / / / / / / / / / / 1 3 5 7 9 1 1 3 5 7 9 1 1 3 5 7 9 1 1 3 5 7 9 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 Turquoise 47% 1% 8% 8.99 14,166 Euronext Market Share MTF Market Share 5

VOLATILITY IS AN INDICATOR FOR ADV LEVELS Macro uncertainty, alongside monetary stimulus will remain the major driver of ADV on our markets in the short to medium term Fears over EU Calmer markets. IPO window Global sell-off over fears of Volatility spikes on ECB QE Greek debt Greek crisis China, deflation fully open slowing US economic growth, Greek uncertainty stand-off resolution commodities Ukraine – Russia conflict , / EM crisis ADV commodities, Greece. 35 STOXX 50 Volatility 18 000 VIX 2014 Volatility Peaks ADV levels tend to 16 000 30 2015 Volatility Peaks be 21% higher when volatility levels peak 2014 ADV above 20 14 000 2015 ADV YTD ) 25 STOXX 50 Historic Volatility Peak Barrier s VIX Historic Volatility Peak Barrier m r 12 000 ) e n t o l i a l n l i i m 20 m o € 10 000 N ( ( V y D t i l A i t a l o 8 000 V 15 +29.6% ADV YTD 6 000 10 4 000 5 2 000 - - 2014 2015 YTD Source: Euronext, TAG Audit, Bloomberg as of October 2015 6 Note: Domestic equities (electronic order book and regulated reported deals. Scope of MTFs – Smartpool, Chi-X, BATS, Turquoise, Equiduct, TOM MTF, NYSE Arca Europe

DERIVATIVES PERFORMANCE DRIVEN BY COMMODITY FRANCHISE AND INDEX
Q3’2015 was particularly dynamic with revenues increasing by Euronext – number of contracts traded (lots in mm) +5.3% compared to Q3-2014. Index Equity Commodities
ADV on equity index derivatives: +3.4% vs Q3’2014, to 2,6 2,1 3,2 3,9 236,518 2,9 2,9 2,4 3,7 3,1 3,4 4,4 21,4 17,4 16,9 17,2 18,3 17,1 15,5 14,3 16,3
ADV on individual equity derivatives: +5.8% vs Q3’2014 15,9 15,5 to 247,725 lots
The CAC40 futures contract remains Europe’s most 16,4 17,9 14,6 14,8 17,2 14,0 15,1 17,7 16,0 16,0 15,6 heavily traded national index future and the second most heavily traded index future overall. Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15
Strong activity on commodity derivatives: Average daily volume Q3’15/Q3’14 (‘000)
+21.2% in Q3’2015 vs Q3’2014, with an ADV of 67,319 +6,3% +5,7% +7,2% -7,1% +21,2% contracts traded, boosted by the early July European heat Q3 2014 wave that produced uncertainty over the harvest 519 552 campaign and increased volatility 234 247 Q3 2015 168 180
The implementation of a new calendar of expiries, 60 56 55 67 replacing the single November expiry by two expiries, one in September and one in December contributed to a TTL DERIVS. EQUITY OPTS INDEX FUTURES INDEX OPTS COMMODITIES frontloading of volumes on a comparative basis Rapeseed meal contract
Promising start of rapeseed meal product Revenue per lot1 0.32 0.33 Q3'2014 Q3'2015 ¹ Total derivatives trading revenues divided by total derivatives number of contracts traded 7

MARKET DATA & INDICES BENEFITING FROM INDICES
Quarterly revenue up +1.2% vs Q3’2014, to €24.4 million
Promising start of our new global index server
Launched in September in Paris, London and Amsterdam
Agreements were reached in Q3 on three new custom indices, one of which will lead to a new family of indices in time
Customers continue to point Euronext service level, reaction time and time to market as differentiating factors compared to our competitors
Several index licence agreements and a number of calculation agreements were also concluded 8

POST TRADE & MARKET SOLUTIONS ACTIVITIES Clearing Market solutions
Q3 Revenues up +22.2% vs Q3’2014, to €14.6 million
Revenues were down -5.9% vs Q3’2014, to €7.9 million
Strong performance of our commodity franchise and buoyant
Decrease was mainly due to reduced solution revenue financial derivatives volumes fuelled the growth reflecting our intention to consolidate clients onto the new platform and reduce legacy projects Settlement & Custody
Market Solutions revenue will continue to be constrained
Q3 Revenues down -7.6% to €4.8 million while we complete our refreshed core trading infrastructure and begin to migrate clients to the new platform in 2017
Revenues were impacted by the decrease in the private and public debt assets under custody
Continue rigorous focus on Interbolsa’s development plan for TARGET2-Securities (T2S) to be maintained, ensuring the readiness of our CSD for its migration in 2016. 4.6 4.5 11.9 14.6 2.4 Q3'2014 Q3'2014 1.8 1.4 1.6 5.2 4.8 Q3'2015 Q3'2015 CLEARING SETTLEMENT & CUSTODY SOLUTIONS SFTI COLO CONNECTION FEES & OTHER 9

FINANCIALS

FINANCIAL HIGHLIGHTS st 1 set of mid-term objectives to Quarterly be achieved by year-end EBITDA MARGIN €12.6 million have been 58.0% dedicated to acquire own shares to cover the employee share st NET PROFIT CASH plans for 2014 & 2015 (1 THIRD PARTY OPERATING €47.7m POSITION tranche) REVENUE EXPENSES €160m Second tranche to be initiated ex. D&A EPS soon (to be achieved before the €133.0m th €55.8m €0.68 by 30 Sept. end of the year) +18.4% -18.5% (basic & fully 2015 diluted) €64m €64.6m of accrued of efficiencies cumulated €74m restructuring Run-rate expenses 11

STRONG GROWTH IN THIRD PARTY REVENUES Revenues (unaudited) Comments (€mm) ∆∆ Q3’15 vs Q3’15 Q3’14∆∆
Exceptionally strong performance in cash trading and listing Q3’14 revenue thanks to market volatility and a number of large Listing 19.8 13.2 50.2% listing operations: Trading revenue 61.5 49.0 25.4%
Cash trading +31.4% - volumes up +43.2% vs Q3’2014 o/w cash trading 49.6 37.7 31.4%
Listing activity benefited from continued vigor in the o/w derivatives trading 11.9 11.3 5.3% IPO market and large listing operations Market data & indices 24.4 24.1 1.2% Post-trade 19.4 17.1 13.1% o/w clearing 14.6 11.9 22.2%
Outsized volatility in derivatives impacted both trading and o/w settlement & custody 4.8 5.2 -7.6% clearing revenues: Market solutions & other 7.9 8.4 -5.9%
Derivatives trading +5.3% - strong volumes in Other income 0.0 0.5 -85.6% commodities (+21% vs Q3’2014), in individual equity Total third party revenue and options (+5.8% vs Q3’2014) and in index products other income 133.0 112.3 18.4% (+5.3% vs Q3’2014) fuelled the growth ICE transitional revenue 0.0 10.3 n/a
Clearing revenue positively impacted by the strong Total revenue 133.0 122.6 8.4% performance of our commodity franchise
Market data revenue benefited from the promising start of our new global index server
Interbolsarevenue impacted by the decrease in the private and public debt assets under custody
ICE transitional revenues terminated starting January 2015 12

SUBSTANTIAL REDUCTION IN OPERATING EXPENSES Operating expenses (unaudited) Comments (€mm) Q3’15 ∆∆ Q3’15 Q3’14 ∆∆
Decrease in most of costs items, benefiting from the vs Q3’14 strict execution of our cost reduction plan: Salaries and employee benefits (27.9) (31.3) -10.8%
Staff costs and professional services benefited System and communications (4.7) (6.8) -31.3% from the closing of IT operations in London end of Professional services (8.3) (11.4) -27.7% 2014 and the completion of Euronext Separation Clearing expenses (7.3) (6.8) 7.7% Program in H1’2015 Accommodation (2.7) (7.0) -61.5%
System and communications and professional Other expenses (4.9) (5.2) -4.3% services were reduced following the end of most Total operational expenses of the SLAs with ICE (excl. D&A) (55.8) (68.5) -18.5% Depreciation and amortisation (3.8) (4.1) -9.1%
Accommodation costs benefited from the completion of Total operational expenses (59.6) (72.7) -18.0% our Real Estate Strategy 880 160 ) 860 s n o
Depreciation & amortisation decreased in line with the 840 140 i t u rescopingof our footprint and the assets renewal cycle 820 l s 120 o e S e800 y d o780 100 n a p l S p760 80 M m E e740 , t 60 T n720 I ( e n s a700 40 r o m t r680 c e 20 a r P660 t n 640 0 o C 13

SIMPLIFIED INCOME STATEMENT Income statement (unaudited) Comments (€mm) Q3’15 Q3’14
EBITDA margin of 58.0% benefited from the EBITDA 77.1 54.1 combination of strong revenue increase and cost Margin 58.0% 44.1% reduction Depreciation and amortisation (3.8) (4.1) Total expenses (59.6) (72.7) Operating profit (before exceptional items) 73.4 50.0
Exceptional items limited to €1.8 million for the Margin 55.2% 40.7% quarter (mainly redundancies) Exceptional items (1.8) (5.7) Operating profit 71.6 44.2 Net financing income/(expense) 0.6 (0.7)
Net financing income thanks to positive impact Results from equity investments and other income 0.0 0.0 of change in Forex methodology (from average Profit before income tax 72.2 43.5 quarterly rate to spot one) Income tax expense (24.4) 6.0 Tax rate -33.9% 13.8% Profit for the quarter 47.7 49.6
Income tax of 33.9% in Q3 2015 due to recognition of discrete items in Q3 2015
Tax benefit in Q3 2014 was due to a net release of tax provisions
Q3 2015 EPS of €0.68 (both basic & diluted) vs €0.71 basic & €0.70 diluted in Q3 2014 14

BALANCE SHEET Balance sheet summary (unaudited) Comments (€mm) 30 Sep 2015 30 Jun 2015 Non-current assets
Cash and cash equivalent of €160m at the end of the Property, plant and equipment 30 29 period thanks to strong operational performance. Goodwill and other intangibles 321 321
Increase in other current liabilities, as the income tax Equity investments 114 114 payable increased with the tax on Q3’15 profit. Other non-current assets 22 20
Net tangible equity of -€33m Current assets Cash and cash equivalents 160 128 Other current assets 117 116 Total assets 764 728 Non-current liabilities Borrowings 108 108 Other non-current liabilities 19 18 Current liabilities Trade and other payables 108 119 Other current liabilities 127 113 Total liabilities 362 358 Total equity 402 370 Total equity and liabilities 764 728 15

REPORTED CASH FLOW STATEMENT Cash flow statement (unaudited) (€mm) Q3’15 Q3’14 Net cash provided by/(used in) operating activities 52.8 59.4 Net cash provided by/(used in) investing activities (4.5) (7.1) o/w capital expenditures (4.5) (2.1) Net cash provided by/(used in) financing activities (13.3) (0.8) Net increase/(decrease) in cash and cash equivalents 35.0 51.5 Cash and cash equivalents – beginning of period 128.4 186.5 Cash and cash equivalents – end of period 160.0 238.0
Operating cash-flow - Higher profit before tax - Negative impact of the decrease in working capital (-€9.3 million vs +€22.9 million in Q3 2014), mainly due to the accelerated payment process anticipating the ERP implementation
Investing cash flow - Capital expenditure of €4.5 million over the period related to the new DR site close to Paris
Financing cash flow - Consisting mainly in the €12.6 million spent for the acquisition of our own shares (1st tranche)
Significant cash outflow for tax payment expected in Q4 2015 due to the reconciliation between provisional payments from Q1 to Q3 and estimated taxable income for the current year (in France). 16

OUTLOOK FOR THE REMAINING OF 2015 2016 9m 2015 FY2015 2013 TARGET REAL OUTLOOK (in € million) Third party 387 9% to 10% revenue +46 (clearing) 5% CAGR over 2013-2016 ~€500m €393m 2-year (adjusted) = €433 million CAGR Q4’2014: €124m EBITDA margin ~ 53% 54.7% ~55% Cost base 302 -€80m net, run-rate (adjusted) +27 (clearing) ~€250m €191m €80m net Incl. D&A =€329 million by the end of 2016 efficiencies run-rate Q3’2015 €60m
Activity for October:
Listing: five new listings (AroundTownProperty Holding on Euronext Paris and Intertrust NV on Euronext Amsterdam), of which three EnterNext SMEs (Showroomprivé, Technofirstand KKO International) raised €719 million. €2.8 billion was raised in corporate bonds and €2.8 billion of follow- on equity.
Cash trading: ADV of €7,735 million, down –4.8% compared to €8,124 million in October 2014 (Q4 2014 of €7,256 million)
Derivatives trading: Index products ADV of 201,379 lots (Q4 2014: 276,280 lots) – Individual Equity Products ADV of 233,314 lots (ADV Q4 2014: 267,953 lots) – Commodity Products ADV of 57,163 lots (ADV Q4 2014: 61,601 lots)
Cumulated restructuring expenses to achieve these €80 million of net efficiencies should not exceed €70 million by the end of 2015. Some additional restructuring expenses will be spent in the following years. 17

FINANCIAL MANAGEMENT DASHBOARD New mid-termobjectives to be releasedin due course following Stephane Boujnaharrival FY2015 2016 H1 Q3 Q4 Q1 Q2 Q3 TARGET ‘14 ‘14 ‘14 ‘15 ‘15 ‘15 Third party 5% revenue growth +6.9% +10.3% +12.0% +9.6% +11.9% +18.4% 9% to 10% 3-year (adjusted) 2-year CAGR Cumulated CAGR efficiencies €22m €29m €38m €44m €51m €64m (accrued basis) Run rate €64m €74m €80m €80m savings IT London €20m Simplification €20m Restructuring: real-estate reduction, restructuring, refresh of core trading infrastructure €40m EBITDA margin 46.1% 44.1% 46.7% 52.2% 53.9% 58.0% ~55% ~ 53% Cumulated restructuring €20m €26m €45m €38m €63m €65m €70m* €90m expenses *Some additional restructuring expenses will be spent in the following years. 18 | 18

CONCLUSION

EXECUTIVE SUMMARY An unprecedented third quarter 1 • Strong third party revenue performance (+18.4% vs Q3 2014) • Strict cost discipline resulted in a -18.5% decrease in operational expenses • The strong favorable revenue and expenses variations resulted in a quarterly EBITDA margin up to 58.0% st Achievement of the 1 set of mid-term objectives as an independent company • Leveraging the supportive economic backdrop, Management prioritized the right-sizing of the 2 cost structure • €80m of cost efficiencies to be achieved on an run-rate basis by the end of 2015, one year in advance • Combined with the anticipated 2-year CAGR of 9% to 10% the EBITDA margin for the year will stand at around 55% Stephane Boujnahto commence his CEO role on 16 November 2015 3 • The selection process concluded in September, the EGM approved his appointment on 27 October 2015 and all regulatory approvals have now been received • His international background and energicambition will help take Euronext to the next level 20

DISCLAIMER This presentation is for information purposes only and is not a recommendation to engage in investment activities. The information and materials contained in this presentation are provided ‘as is’ and Euronext does not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaims liability for any errors or omissions. This presentation is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Euronext. All proprietary rights and interest in or connected with this publication shall vest in Euronext. No part of it 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 their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of Euronext. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no undue reliance should be placed on any forward-looking statements. Forward-looking statements speak only as at the date at which they are made. Euronext expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this presentation to reflect any change in its expectations or any change in events, 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 is targeting 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 future business decisions that are subject to change. As a result, the Company’s actual results may vary from these financial objectives, and those variations may be material. 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 period mentioned. The expected operating efficiencies and cost savings were prepared on the basis of a number of assumptions, projections and estimates, many of which dependonfactorsthatarebeyondtheCompany’scontrol.Theseassumptions,projectionsandestimatesareinherently subject to significantuncertainties and actual results may differ, perhaps materially, from those projected. The Company cannot provide any assurance that these assumptions are correct and that these 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 at https://www.euronext.com/terms-use. © 2015, Euronext N.V. - All rights reserved. 21