European capital market infrastructure Euronext today announced the success of the voluntary share exchange tender offer for HELLENIC EXCHANGES-ATHEX STOCK EXCHANGE S.A. (“ATHEX”), the parent company of ATHEX Group.

During the Acceptance Period, which lasted six weeks and ended on 17 November 2025, shareholders lawfully and validly tendered, in aggregate, 42,953,405 ATHEX Shares corresponding to approximately 74.25% of the voting rights of ATHEX. The minimum number of shares prerequisite of 28,925,001 ATHEX Shares, corresponding to 50% plus one share of ATHEX’s voting rights whose exercise is not subject to suspension, to be lawfully and validly tendered, has been satisfied.

On 14 November 2025, Euronext announced that all necessary regulatory approvals for the transaction have been received. As a result, all Conditions to the Tender Offer described in the Information Circular published on 6 October have been fulfilled.

Euronext expects to deliver significant synergies from the integration of ATHEX into its European market infrastructure. €12 million annual run-rate cash synergies are targeted by the end of 2028, notably through the migration of Greek trading to Optiq®, and harmonisation of central functions. Implementation costs to deliver those synergies are expected to amount to €25 million. The transaction is expected to be accretive for Euronext shareholders within the first year following the delivery of synergies.

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext, said:

“The integration of ATHEX into Euronext marks a significant milestone for both Greece and the broader European financial landscape. By joining Euronext, ATHEX will become part of a strong and integrated European network focused on connecting local economies with global markets. Greek issuers, brokers and investors will benefit from advanced trading and post-trade technologies that will enhance the global positioning and competitiveness of the Greek capital market. We look forward to soon welcoming our new Greek colleagues who are joining the Euronext family.

This acquisition further consolidates Euronext’s role as Europe’s leading diversified market infrastructure and establishes a solid foundation for the Group’s development in Southeastern Europe, a region with strong growth prospects. In parallel, I am pleased to confirm our intention to establish a new Group-level support and technology centre in Athens, which will provide dedicated support to the Euronext Group’s business lines. This important initiative reflects our commitment to invest in Greek talent and create valuable opportunities for professional development, innovation and long-term success. We would like to sincerely thank the shareholders for their strong support in this pivotal moment, as we move forward together to build a more efficient, strong and integrated European capital market.”

Euronext will issue the new ordinary shares (“Consideration Shares”) on 21 November 2025. On 24 November 2025, Euronext will settle the Tender Offer by procuring the exchange of ATHEX Shares lawfully and validly tendered in the Tender Offer for Consideration Shares. The Consideration Shares will be admitted to listing and trading on Euronext’s regulated market on the same day.

The former holders of ATHEX Shares who have lawfully and validly offered them in the Tender Offer are expected to receive the Consideration Shares to which they are entitled, on 24 November 2025.

The Offeror reserves the right to use any legally permitted method to acquire up to all of the ATHEX Shares. With less than 90% of ATHEX voting rights tendered, the Offeror will consider its options to achieve that goal and optimise the structure of the ATHEX Group within the Euronext Group.