NYSE/WFIC/NAIC-BI Webinar

Larry Leibowitz, Chief Operating Officer

©

NYSE Euronext. All Rights Reserved.

October 7, 2011

2

Legal Disclaimers

Forward-Looking Statements

This document includes forward-looking statements about NYSE Euronext, Deutsche Boerse AG, Holding, the enlarged group and other persons, which may include statements about the proposed business

combination, the likelihood that such transaction could be consummated, the effects of any transaction on the businesses of NYSE Euronext or Deutsche Boerse AG, and other statements that are not historical

facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking

statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and the development of the industries in which NYSE Euronext and Deutsche Boerse AG

operate may differ materially from those made in or suggested by the forward-looking statements contained in this document. Any forward-looking statements speak only as at the date of this document. Except

as required by applicable law, none of NYSE Euronext, Deutsche Boerse AG or Holding undertakes any obligation to update or revise publicly any forward-looking statement, whether as a result of new

information, future events or otherwise.

Non-GAAP Financial Measures

To supplement NYSE Euronext’s consolidated financial statements prepared in accordance with GAAP and to better reflect period-over-period comparisons, NYSE Euronext uses non-GAAP financial measures

of performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure, calculated and presented in

accordance with GAAP.  Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results, but are provided to (i) present the effects of certain merger expenses,

exit costs, disposal activities and discrete tax items, and (ii) improve overall understanding of NYSE Euronext’s current financial performance and its prospects for the future.  Specifically, NYSE Euronext

believes the non-GAAP financial results provide useful information to both management and investors regarding certain additional financial and business trends relating to financial condition and operating

results. In addition, management uses these measures for reviewing financial results and evaluating financial performance.  The non-GAAP adjustments for all periods presented are based upon information

and assumptions available as of the date of this release.

Safe Harbour Statement

In connection with the proposed business combination transaction between NYSE Euronext and Deutsche Boerse AG, Alpha Beta Netherlands Holding N.V. (“Holding”), a newly formed holding company, filed,

and the SEC declared effective on May 3, 2011, a Registration Statement on Form F-4 with the U.S. Securities and Exchange Commission (“SEC”) that includes (1) a proxy statement of NYSE Euronext that

also constitutes a prospectus for Holding  used in connection with NYSE Euronext special meeting of stockholders held on July 7, 2011 and (2) an offering prospectus used in connection with Holding’s offer to

acquire Deutsche Boerse AG shares held by U.S. holders. Holding has also filed an offer document with the German Federal Financial Supervisory Authority (Bundesanstalt fuer Finanzdienstleistungsaufsicht)

(“BaFin”), which was approved by the BaFin for publication pursuant to the German Takeover Act (Wertpapiererwerbs-und Übernahmegesetz), and was published on May 4, 2011.

Investors and security holders are urged to read the definitive proxy statement/prospectus, the offering prospectus, the offer document, as amended, and published additional accompanying information in

connection with the exchange offer regarding the proposed business combination transaction because they contain important information. You may obtain a free copy of the definitive proxy

statement/prospectus, the offering prospectus and other related documents filed by NYSE Euronext and Holding with the SEC on the SEC’s website at www.sec.gov. The definitive proxy statement/prospectus

and other documents relating thereto may also be obtained for free by accessing NYSE Euronext’s website at www.nyse.com. The offer document, as amended, and published additional accompanying

information in connection with the exchange offer are available at Holding’s website at www.global-exchange-operator.com.

This document is neither an offer to purchase nor a solicitation of an offer to sell shares of Holding, Deutsche Boerse AG or NYSE Euronext. The final terms and further provisions regarding the public offer are

disclosed in the offer document that has been approved by the BaFin and in documents that have been filed with the SEC.

No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and applicable European regulations. The

exchange offer and the exchange offer document as amended, shall not constitute an issuance, publication or public advertising of an offer pursuant to laws and regulations of jurisdictions other than those of

Germany, United Kingdom of Great Britain and Northern Ireland and the United States of America. The relevant final terms of the proposed business combination transaction will be disclosed in the information

documents reviewed by the competent European market authorities.

Subject to certain exceptions, in particular with respect to qualified institutional investors (tekikaku kikan toshika) as defined in Article 2 para. 3 (i) of the Financial Instruments and Exchange Act of Japan (Law

No. 25 of 1948, as amended), the exchange offer will not be made directly or indirectly in or into Japan, or by use of the mails or by any means or instrumentality (including without limitation, facsimile

transmission, telephone and the internet) of interstate or foreign commerce or any facility of a national securities exchange of Japan. Accordingly, copies of this announcement or any accompanying documents

may not be, directly or indirectly, mailed or otherwise distributed, forwarded or transmitted in, into or from Japan.

The shares of Holding have not been, and will not be, registered under the applicable securities laws of Japan. Accordingly, subject to certain exceptions, in particular with respect to qualified institutional

investors (tekikaku kikan toshika) as defined in Article 2 para. 3 (i) of the Financial Instruments and Exchange Act of Japan (Law No. 25 of 1948, as amended), the shares of Holding may not be offered or sold

within Japan, or to or for the account or benefit of any person in Japan. 

Today’s

Discussion

–

NYSE

Euronext

•

Who we are today

•

Deutsche Boerse

•

The power of the combination

3

NYSE

Euronext

-

A

Truly

Global

Marketplace

•

Brand

•

Diversification

•

Global presence &

reach

•

Technology

•

Our people

4

Fun Facts

NYSE

lists

companies

with

total

market

capitalization

of

$12.5

trillion,

more

than

the

next

3

exchanges

combined

NYSE

lists

518

companies

from

47

countries

On

a

busy

day,

NYSE

processes

2

billion+

messages

26 domestic and international media outlets broadcast from the

NYSE trading floor

The façade of 11 Wall Street is ubiquitous with the U.S. financial

markets and is actually a registered trademark of the NYSE

5

Market

Capitalization

of

domestic

companies

excluding

investment

funds;

as

of

August

31,

2011;

Source: World Federation of Exchanges; NYSE Euronext: NYSE, Arca, Amex, Euronext (Paris,

Amsterdam, Brussels, Lisbon), Alternext; Nasdaq/OMX: Nasdaq, Stockholm, Copenhagen, Helsinki,

Riga

(Latvia),

Tallinn

(Estonia),

Vilnius

(Lithuania),

Reykjavik

(Iceland);

LSE

Group:

London,

AIM,

Borsa

Italiana

(Milan)

NYSE Euronext (Europe): $2.7

NYSE Euronext (US): $12.5

Data as of August 31, 2011

United States

•

NYSE

•

NYSE Arca

•

NYSE Amex

•

NYSE Liffe U.S

•

Stocks

•

Options

•

Futures

•

Clearing

•

Fixed Income

Europe

•

NYSE Liffe

•

Paris Bourse

•

Amsterdam SE

•

Brussels SE

•

Lisbon SE

•

Stocks

•

Futures

•

Options

•

Clearing

•

OTC Derivatives

•

Fixed Income

Asia & S. America

•

Qatar:

20% stake

in the Qatar

Exchange

•

China:

opened

Beijing office

•

India:

5% stake in 

Multi Commodity

Exchange

•

Japan:

strategic

alliance with

Tokyo Stock

Exchange

The World’s Most Diverse Exchange Group

Other

Cooperation/

Technology

Agreements:

•

Abu Dhabi

•

BM&F

Bovespa

•

Bursa

Malaysia

•

Luxembourg

•

Philippines

•

Qatar

Exchange

•

Tokyo

•

Warsaw

6

90% of the Dow Jones

Industrial Average

80% of the S&P 500

87% of the 2010

Barron’s 500

80% of the 2010

Fortune 500

7 of the 2011 Fortune

Top 10 Globally

Admired Brands

Financials

Industrials

Healthcare

Consumer

/ Services

Materials

Energy /

Utilities

Tech /

Media /

Telecom

98%

81%

94%

77%

88%

98%

51%

All the Leading Global Companies…

7

Source: NYSE Euronext

Attracting technology

companies from around the

world

NYSE share of Tech IPOs

has increased ~4x since

introduction of new listing

standard

H1 2011 NYSE Market

Share of tech IPOs was

55%

NYSE Market Share

of Tech IPOs

2000 -

2006

H1 2011

*Companies have recently been acquired; **Transfer from Nasdaq to NYSE; *** Amex listed;

SuccessFactors will complete transfer later in 2011

Market share of tech IPOs based on number of IPOs; includes deals > $40mm

Selected Tech Listings 2007-2011

…And the Increasing Destination for Technology Leaders

8

Despite this, NYSE Euronext is Dwarfed as a Company…

Why?

Emerging markets

Strong derivatives

players

Clearing

Hyper-competitive

landscape in U.S.

$16.8

$9.5

$9.3

$8.8

$6.1

$5.4

$5.2

$4.1

$3.5

$2.9

$2.2

$15.9

CME

Hong

Kong

DB

BM&F B

ICE

NYX

SGX

ASX

NDAQ

LSE

TMX

CBOE

9

Market Capitalization of Global

Exchange Peers as of 9/30/11

($ in Billions)

Source: NYSE Euronext

…Threatening Our Long-Term Positioning

28.1%

15.7%

11.3%

9.9%

5.8%

3.2%

2.4%

2.4%

1.0%

0.5%

0.4%

0.1%

19.0%

NYSE Group

NDAQ

Internalization

Dark Pools

BATS

EDGX

EDGA

BYX

BX

PSX

NSX

Chicago

CBSX

10

$59.0

$44.2

$38.8

$24.8

$15.0

$14.0

$10.5

$9.0

$8.0

$45.3

Hong Kong

Shenzhen

NYX

Shanghai

Toronto

LSE

Tokyo

NDAQ

ASX

Bombay

% Market Share of U.S.

Stock Market-August 2011

FY2010 IPO Total Proceeds of Global

Exchange Peers

($ in Billions)

Source: NYSE Euronext

Source: NYSE Euronext

Deutsche Börse

-

Who are They?

Some Basics…

Leadership positions in derivatives trading, clearing and risk

management

Second largest exchange in terms of net revenue based on

FY 2010 net revenue

Third-largest derivatives exchange

Clearstream-world-class settlement & custody services

Frankfurt Stock Exchange-$1.4 trillion in listings

5

th

largest U.S. equity options exchange

11

•

•

•

•

•

•

Merger with Deutsche Börse-Creating a Truly Global Market Place

12

Iconic global brand

Premier global listing venue and world leading

cash equities venue

Strong derivatives trading presence in US and

EU

Fast-growing information services and

technology solutions franchise

World class technology and proven ability to

integrate

Leader in derivatives trading and clearing

Unique clearing and risk management expertise

across major asset classes (on-exchange / OTC)

Strong suite of world class settlement and

custody services

Attractive market data & analytics offering

including strong index portfolio

World class technology and proven ability to

realize cost efficiencies

The

world

leader

in

derivatives

and

risk

management

The largest, most recognized capital

raising venue in the world

The most compelling exchange

provider of technology services and

information content

The

global

pioneer

in

international

post-

trade infrastructure and settlement

NewCo Group

Clear Management and Leadership Structure

Title

Name

Prior Company

Group Chief Executive Officer

Duncan Niederauer

NYSE Euronext

President & Deputy CEO / Head of Derivatives

Andreas Preuss

Deutsche Börse

President / Head of Technology Services/IT

Dominique Cerutti

NYSE Euronext

Chief Financial Officer

Gregor Pottmeyer

Deutsche Börse

Chief Operating Officer / Head of Cash Trading & Listings

Lawrence Leibowitz

NYSE Euronext

Head of Market Data & Analytics

Frank Gerstenschläger

Deutsche Börse

General Counsel

John Halvey

NYSE Euronext

Head of Settlement & Custody

Jeffrey Tessler

Deutsche Börse

13

Executive committee

Board

of

directors

–

Comprised

of

17

members

Group Chairman – Reto Francioni, formerly CEO of Deutsche Börse

CEO – Duncan Niederauer, formerly CEO of NYSE Euronext

9 independent members appointed by Deutsche Börse

6 independent members appointed by NYSE Euronext

Committees will be split 60 / 40 between Deutsche Börse and NYSE Euronext designees

Board meetings will alternate among key group locations

Roadmap to Completion

14

Transaction expected to close at the end of 2011

Deutsche Börse tender process to close in November

Surpassed initial 75% acceptance condition with 82.4%

Acceptance rate now over 95%

Competition filing

Currently in Phase II review with European Commission with Statement of

Objections expected shortly-Next step in process

Department of Justice review in U.S. ongoing

On track

with

relevant

regulators;

German

BaFin

approval

already

received

CFIUS approval in U.S. received

NYSE Euronext shareholders have approved

Over 96% of shares voted were in favor of the merger

NYSE Euronext

Shareholder

Approval

Deutsche Börse

Shareholder

Approval

Regulatory process