_222 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 4 NON-FINANCIAL STATEMENT Sustainable Development Report Joint ventures and associates Because disclosures must be aligned with IFRS financial ratios, companies in which the Group exercises joint control or significant influence are excluded from the calculation of the KPIs defined by the Delegated Act of the Taxonomy Regulation. As a result, only fully consolidated subsidiaries of the Michelin Group are included in the calculation of the sales, capital expenditure and operating expense indicators. On the other hand, the Delegated Act provides for the possibility of reporting additional ratios that would include joint ventures and associates. Partnerships with joint ventures are an integral part of the Group’s All Sustainable growth strategy with, around and beyond tires. As such, their relationship with taxonomy-eligible activities is discussed even though their activity is excluded from the disclosed indicators. For example, Symbio, a joint venture owned equally by Michelin and Forvia, is dedicated to designing, manufacturing and marketing hydrogen fuel cell systems for all types of electric vehicles. Its business therefore falls within the scope of activity 3.2 “Manufacture of equipment for the production and use of hydrogen” and contributes to the environmental objective of mitigating climate risk. Methodology for assessing eligible and aligned activities. To assess the contribution of its activities to the environmental objectives, the Group has followed a four-step process: 4.1.1.7 a) Identifying eligible activities The following table shows all of the Michelin Group’s activities identified as eligible (excluding the activities of joint ventures and associates): European Taxonomy Corresponding Michelin Group activity Substantial contribution to one of the environmental objectives Reported KPIs Economic activity Description Michelin activity Mitigation Adaptation Circular economy Net sales CapEx OpEx 3.6 Manufacture of other lowcarbon technologies Manufacture of technologies aimed at substantial GHG emission reductions Passenger car, Light truck and Truck tire manufacturing X X X X 8.2 Data-driven solutions for GHG emission reductions Development or use of ICT solutions that are aimed at collecting, transmitting and storing data and at its modeling and use where those activities are predominantly aimed at the provision of data and analytics enabling GHG emission reductions Development of fleet management telematics solutions to improve fleet fuel efficiency X X X X 5.1 Repair, refurbishment and remanufacturing Repair, refurbishment and remanufacturing of goods that have been used for their intended purpose before by a customer Truck tire retreading (replacing worn tread with new tread) X X X X List defined in the delegated acts To one or more environmental objectives Do not cause any significant harm to any of the other objectives Human Rights & Fundamental Principles and Rights at Work Identification of eligible activities substantial contribution DNSH Do no significant harm compliance with minimum safeguards
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