_106 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 3 CORPORATE GOVERNANCE REPORT Supervisory Board practices – Activities in 2023 3.2.7 Assessment of the Supervisory Board’s practices In 2023, the Chair of the Supervisory Board organized a self–assessment of the Board’s practices. This exercise followed an earlier self-assessment carried out in 2021 and an independent assessment performed in 2022 by a leading firm of consultants with the participation of the Senior Independent Member(1). The independent assessment included an analysis of the conspicuous contributions of the Chairs of the Board and its Committees and each Board member. Its results were set out in a detailed report prepared by the Chair of the Supervisory Board and were the subject of a specific item on the agenda of the Supervisory Board meeting of February 10, 2023. The 2023 self-assessment was based on an individual questionnaire sent to each member by the Chair of the Supervisory Board. She also met each member individually in 2023 to take stock of their expectations. Issues arising from the self-assessment of the Board’s practices(2) were also discussed by the independent members during the Executive Session organized by the Senior Independent Member in 2023. The following matters were covered by the 2023 self-assessment: ● Supervisory Board practices; ● Supervisory Board membership; ● assessment of individual members' contributions, including that of the Chair; ● experience and expertise represented on the Board; ● the Board's relations with the Managers, shareholders and other stakeholders; ● practices of the Committees of the Supervisory Board. A review of this assessment was included on the agenda of the February 9, 2024 Supervisory Board meeting. During this meeting, the findings were presented to the Supervisory Board and the Managers by the Chair of the Supervisory Board. This presentation was followed by an exchange of views and a discussion among the Supervisory Board members. The responses to the self-assessment questionnaire confirmed the conclusions of the independent assessment carried out in 2022 and the observed improvements. In particular: ● the respondents considered that the Board’s membership was appropriate, and that its members’ skills and experience were appropriate in light of the Board’s role and the Company’s businesses; ● the respondents’ assessment of the quality of the dialog between Board members and with Group management was very positive, and they were also very satisfied with the information provided to enable the Board to carry out its duties in the best possible conditions; ● the processes for preparing succession plans and assessing management performance were considered as robust, and respondents welcomed the increasing attention paid to the skills needed to deploy the Group's strategy; ● the respondents highlighted the need to further advance the work of the Board's Committees by examining certain topics in more detail, and to support the increase in the CSR Committee's activities. (1) The results of the independent assessment are presented in the 2022 Universal Registration Document, page 99. (2) Details of the issues discussed at this meeting are provided in section 3.2.5 of this document.
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