_186 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 4 NON-FINANCIAL STATEMENT Sustainable Development Report 4.1.1.1 b) Transition plan: company strategy Offering the most efficient mobility solutions without compromising on safety is the very heart of Michelin’s past, present and future positioning, as reflected in products that lead the market in energy efficiency, CO2 emissions abatement and long-lasting performance. As part of its strategic plan, the Group is continuing to innovate to nurture the transition to low-carbon mobility for people and goods, in particular by: ● designing products that are ultra-energy efficient throughout their life cycle, from production and use to end-of-life recycling; ● developing services and solutions that optimize the use and management of vehicle fleets, while improving their fuel/energy efficiency; ● driving the emergence of new mobility solutions, led by ecosystem-driven innovation and, notably, the development of the hydrogen mobility industry. Climate change opportunities and risks in light of TCFD principles are presented in section 4.1.1.1 d) Engagement and transparency/ Applying the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Designing energy-efficient products Using a tire on a vehicle requires additional energy that entails, in an internal combustion vehicle, either the burning of fuel (and therefore the release of greenhouse gases) or the use of the car's engine battery. OUR OBJECTIVE: Improve the energy efficiency of tires by 10% in 2030 compared to 2020. Key performance indicator: improvement in tire rolling resistance compared with the 2020 baseline, weighted by sales tonnages in the reporting year. Scope of reporting: In 2023, the indicator’s scope of reporting was broadened to include the Mining, Agricultural, Aviation and Construction tire segments, in addition to the Passenger car, Light truck and Truck tire segments in the legacy scope. IMPROVING THE ENERGY EFFICIENCY OF PRODUCTS SOLD (base 100) In 2023, Michelin improved the energy efficiency of tires sold during the year by 2.9% compared with tires sold in 2020. OUR LEVERS FOR ACTION: Reducing a tire’s rolling resistance helps to improve a vehicle’s fuel efficiency, which in turn reduces both CO2 emissions during use and ambient air pollutants, such as NOx and SOx. Lower rolling resistance also increases the range of electric vehicles. Over the past 20 years or more, Michelin has improved the fuel efficiency of its tires by more than 20%, without ever compromising on safety or longevity. Between now and 2030, the Group will continue to drive progress in its tire product plan, supported and amplified by the deployment of eco-design processes in the Research and Development Department. Reducing the rolling resistance of Passenger car and Light truck tires Improvements in the rolling resistance of tires brought to market in 2023 were led by two lines, the MICHELIN e.Primacy and the MICHELIN Pilot Sport EV, both of which deliver a wide array of new technologies. On average, driving on MICHELIN e.Primacy tires reduces a vehicle’s fuel consumption by 0.2l/100km and its CO2 emissions by 5g/km, which throughout the life of the tire represents 174kg in avoided CO2 emissions. For drivers of electric vehicles, this record energy efficiency translates into 7% longer range. Additionally, the MICHELIN Pilot Sport EV, the first sport tire specifically designed for electric cars, improves range by 10% while significantly reducing CO2 emissions. Climate strategy Company’s overall strategy Transition Plan • Decarbonization • Evolving strategy Adaptation Plan for physical risks +0.5% +1.8% +2.9% +10% 2023 2030 2022 2021 2020 Baseline
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