_244 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 4 NON-FINANCIAL STATEMENT Sustainable Development Report During the year, the Investor Relations team met with or responded to questionnaires from rating agencies, credit rating agencies and proxy advisors. In 2023, the Group posted its third ESG data report for 2022 online in a single spreadsheet to facilitate stakeholder access. Lastly, the Investor Relations team supports ongoing communication and dialogue with individual shareholders through a variety of channels, including regularly published newsletters, invitations to the Annual Shareholders Meeting, participation in specialized conferences (such as the Investir Day event in 2023) and the deliberations of the Michelin Shareholders Committee. 4.1.2.3 f) Dialogue with customers The Group pays particular attention to customers, who play a central role in realizing its strategic vision and meeting its objectives. Customer satisfaction has been steadily improving since 2020, with an NPS(1) of 42.7 in 2023, exceeding the target for the year. The Group is leading a number of initiatives to constantly enhance customer intimacy and satisfaction. For example, the Customer Centricity Board brings together the chief executives of the Group’s leading business units once a quarter, and regularly meets with customers or companies to improve our ability to satisfy increasingly demanding customers, in particular as regards sustainable development. 4.1.2.3 g) An assertive social dialogue process Michelin’s identity and philosophy have always impelled the Group to engage in an assertive social dialogue process, which it sees as a driver of sustainable performance. The Duty of Care Plan and the risk mapping exercise cover the quality of social dialogue as an issue, with the risks to the Group primarily concerning employer attractiveness, skills and employee engagement (see section 4.1.2.4 Supporting employee growth and development). Its Group Policy recognizes the positive contribution of freedom of association, collective bargaining and staff representation independent of management, which are a source of proposals, and ensures that employees’ fundamental needs are taken into account in every host community. Its application is overseen by a Group Director of Social Development, who is also tasked with improving social dialogue where it falls short of Group standards. This initiative is helping to drive steady progress, especially for production operators. In addition, managers receive training in the legal aspects of labor relations. Compliance with Policy commitments is also verified by an internal control process. In a commitment to enhancing the effectiveness of the social dialogue process in all its host communities, in line with their particular features and characteristics, Michelin has been a member of the Global Deal since 2017. It was in this same spirit that Michelin set up a Global Works Council (MWC), where it hopes to encourage, in the form of an economic, social and environmental observatory, a social dialogue process commensurate with its image and capable of driving its overall performance. Michelin is partnering with the IndustriALL Global Union, which participates in the Council. In 2023, the Global Works Council began its second three-year term (2023-2026) with a broader membership, after welcoming new representatives from India, Sri Lanka, Indonesia and Australia. The Council now comprises 49 employee representatives from 19 countries. It held its first meeting in the new term on September 27 and 28, 2023 at the Ladoux Technology Center in France, where representatives were able to see and test the latest product innovations on the testing grounds. The participants, including two Group Executive Committee members, reviewed in detail Michelin’s All Sustainable strategy focused on the People, Profit, Planet (3P) bottom lines, as well as its application in the production plants and the B2B business. Employee relations issues were addressed, particularly during question and answer sessions. In compliance with European legislation, the Group also has a European Works Council whose 32 employee representatives from 16 EU countries meet twice a year. Demonstrating the intentions of the new policy The notion of social dialogue, which implies, in particular, sharing key issues more broadly and deeply so as to encourage the entire workforce to participate in defining strategy, is gradually informing all of the Group’s management practices. The Group provides all the information stakeholders need to form an objective, reasoned opinion and express it with confidence as part of the social dialogue process. The structure and content of this information are negotiated with employee representatives and comply with legal obligations in each country. The Michelin European Works Council (CEEM) and Global Works Council (MWC) are also widely used as sharing platforms. Restructuring is a fact of business life, an exceptional, yet in certain circumstances unavoidable, event that must be undertaken to maintain the Company’s viability. It therefore has to be managed responsibly, aligned with the three pillars of the Group’s All Sustainable vision. In this regard, should restructuring be necessary, the Group takes care to ensure that all of the affected employees are accompanied in finding a new job, if they so wish, while easing the impact on local communities with, in particular, revitalization initiatives. In addition, Group policy specifies that any project must be announced as soon as possible and carried out in accordance with the procedures negotiated with employee representatives. (1) Net Promoter Score.
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