Slide 1: Euronext Q2 2026 results
Euronext Q2 2026 results 31 July 2026
Slide 2: Agenda
Agenda 01 02 03 Q2 2026 Q2 2026 business Q2 2026 financial highlights review review Stéphane Boujnah CEO and Chairman of Giorgio Modica Giorgio Modica the Managing Board CFO CFO Q&A │2
Slide 3: Q2 2026 highlights
& EURONEXT 02 2026 highlights
Slide 4: Ninth consecutive quarter of double-digit growth driving record results
Ninth consecutive quarter of double-digit growth driving record results €544.4m €360.0m €2.42 Underlying revenue and income Adjusted EBITDA Adjusted(2) EPS +16.9% +21.1% +19.8% 58% 66.1% €185.5m Non-volume driven(1) revenue Adjusted EBITDA margin Net operating cash flow +2.3pts €184.4m €245.0m 1.3x
Slide 5: Euronext is on track to achieve 'Innovate for Growth 2027' targets
Euronext is on track to achieve ‘Innovate for Growth 2027’ targets Revenue and income growth target Above +5% CAGR ‘23-’27e Adjusted EBITDA growth target Above +5% CAGR ‘23-’27e Capex / Sales target 4-6% investments in growth Targeted long-term leverage Net debt / Adjusted EBITDA: targeted range of
Slide 6: Q2 2026 business review
& EURONEXT Q2 2026 business review
Slide 7: Euronext recorded double-digit growth in all five reporting segments
Euronext recorded double-digit growth in all five reporting segments Non-volume-related revenue and income Q2 2026 Underlying revenue and income Securities €96.9m Services +12.5% Capital Markets FICC Markets 18% Capital Markets €193.8m and Data and Data Solutions +17.2% Solutions 36% €544.4m Net Tre
Slide 8: Revenue and income of non-volume-related businesses reached a new record (1/2)
Revenue and income of non-volume-related businesses reached a new record (+15.2%), driven by strategic execution (1/2) Securities Services in €m +12.5% 96.9 Custody and Settlement (€88.1m, +13.7%) 86.2 Strong performance was supported by record levels of assets under custody and growing demand for
Slide 9: Revenue and income of non-volume-related businesses reached a new record (2/2)
Revenue and income of non-volume-related businesses reached a new record (+15.2%), driven by strategic execution (2/2) Capital Markets and Data Solutions in €m Primary Markets (€54.2m, +16.4%) +17.2% Strong growth in primary markets was driven by the strongest 193.8 admission and follow-on activit
Slide 10: Sustained double-digit growth in volume-related revenue (1/2)
Sustained double-digit growth in volume-related revenue (+19.2%), driven by broader product and geographic footprint (1/2) FICC Markets in €m +12.3% 98.4 Fixed income trading and clearing (€55.9m, +8.2%) 87.7 MTS Cash trading reached record ADV of €64.9 billion (+9.7%) MTS Repo reached €574.5 bi
Slide 11: Sustained double-digit growth in volume-related revenue (2/2)
Sustained double-digit growth in volume-related revenue (+19.2%), driven by broader product and geographic footprint (2/2) Equity Markets in €m +24.9% 132.7 Cash equity trading and clearing (€118.5m, +26.9%) Strong performance reflects continued market volatility, strong growth in ETFs and the con
Slide 12: Q2 2026 financial review
& EURONEXT Q2 2026 financial review
Slide 13: Q2 2026 adjusted EBITDA grew +21.1% to €360.0 million
Q2 2026 adjusted EBITDA grew +21.1% to €360.0 million in €m +20.6% 354.5 360.0 12.1 1.0 2.2 5.5 5.4 33.3 66.1% 45.9 Adjusted EBITDA 293.9 margin +2.3pts Underlying costs up +9.5%, including acquisitions €360.0m Adjusted EBITDA +21.1% Q2 2025 Revenue Cost Revenue Costs FX impact Non- Q2 2026 Non- Q2
Slide 14: Q2 2026 adjusted net income grew +19.9%, to €245.0 million
Q2 2026 adjusted net income grew +19.9%, to €245.0 million in €m +19.1% 245.0 5.1 1.8 2.6 16.6 218.8 26.2 €218.8m 4.6 60.5 Reported net income 183.8 +19.1% €245.0m Adjusted net income1) +19.9% €2.42 Adjusted EPS1) +19.8% Q2 2025 EBITDA Variation Variation of Variation of Variation of Variation Q2 20
Slide 15: A strong financial position at end of June 2026
A strong financial position at end of June 2026 CASH FLOW GENERATION in €m Q2 2026 EBITDA to net operating cash flow conversion rate 354.5 impacted by: 293.9 Reported EBITDA Impact of changes in working capital related to Nord Pool 185.5 203.3 and Euronext Clearing CCP activities of -€17.8 million
Slide 16: Q&A - Speakers
Q&A - Speakers Stéphane Boujnah Giorgio Modica Chief Executive Officer, Chairman Chief Financial Officer of the Managing Board │ 16
Slide 17: Appendix
& EURONEXT Appendix
Slide 18: Euronext is today stronger and more diversified than ever
Euronext is today stronger and more diversified than ever Non-volume-related revenue and income Last twelve months underlying revenue and Securities income Services €349.6m Capital Markets FICC Markets and Data 18% Solutions Capital Markets €358.4m 37% and Data Solutions €726.3m €726.3m €1,971.8m Ne
Slide 19: Liquidity at end of Q2 2026
Liquidity at end of Q2 2026 in €m 39.7 36.2 26.7 185.5 1,735.3 349.2 1,683.2 19.0 4.0 76.6 39.7 600.0 385.5 1,083.2 6.1 €415m Regulatory capital requirements Cash in Net Exc. Impact Net Capex Dividends Dividends Net interests Payment Asset Transactions Redemption Other, Cash in Undrawn Liquidity Q1
Slide 20: Number of outstanding shares used for EPS computation
Number of outstanding shares used for EPS computation For comparative purposes, average numbers of outstanding shares (basic) for previous comparative periods were restated using the bonus fraction. For the first semester of 2026, the average number of outstanding shares (basic) is 101,318,098 F
Slide 21: Adjusted EPS for Q2 2026
Adjusted EPS for Q2 2026 in €m unless specified otherwise Q2 2026 Q2 2025 Net income reported 218.8 183.8 EPS reported (€) 2.16 1.81 Adjustments for non-underlying items included in : Revenue and income (0.9) - Operating expenses excl. D&A (4.6) (3.4) Depreciation and amortisation (30.8) (25.6) Non-
Slide 22: Q2 2026 income statement
Q2 2026 income statement % var In €m, unless stated otherwise Q2 2026 Q2 2025 % var (like-for-like, The figures in this document have not been audited or reviewed by our external auditor. constant currencies) Underlying revenue and income 544.4 465.8 +16.9% +9.9% Reported revenue and income 543.5 46
Slide 23: Last twelve month income statement
Last twelve month income statement in €m unless specified otherwise Q3 2025 Q4 2025 Q1 2026 Q2 2026 LTM Underlying revenue and income 438.1 460.8 528.5 544.4 1,971.8 Reported revenue and income 438.1 456.4 526.7 543.5 1,964.7 Securities services 77.3 83.9 91.6 96.9 349.6 Custody and Settlement 70.6
Slide 24: Balance sheet as of June 2026
Balance sheet as of 30 June 2026 In €million 30 June 2026 31 March 2026* Non-current assets Property, plant and equipment 119.3 121.4 unaudited, in € million As of 30/06/2026 Right-of-use assets 90.7 75.1 Investment property 6.3 6.3 CCP clearing business assets Goodwill and other intangible assets 6
Slide 25: Q2 2026 cash flow statement
Q2 2026 cash flow statement in €m Q2 2026 Q2 2025 Profit before tax 320.8 264.5 Adjustments for: - Depreciation and amortisation 53.3 48.2 - Share-based payments 4.9 5.6 - Results from equity investments (26.7) (24.5) - Share of profit from associates and joint ventures (0.3) - - Changes in working
Slide 26: Disclaimer
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 as to the accuracy, adequacy or completeness of the informatio
Slide 27: Investor Relations
Investor Relations Judith Stein, Head of Investor Relations Margaux Kurver, Investor Relations Manager www.euronext.com/en/investor-relations +33 6 15 23 91 97 ir@euronext.com