_354 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 5 FINANCIAL PERFORMANCE Report of the Managers November 9, 2023 [Planet] – Michelin and Bridgestone have published a white paper to share the results of their joint initiative to increase the reuse in new tires of carbon black recovered from end-of-life tires, as part of their journey to material circularity. The paper follows on from the joint call to action around recovered carbon black at the 2021 Smithers rCB conference. November 9, 2023 [Tires] – Michelin and Lilium have signed an agreement covering the design and serial production of tires for the Lilium all-electric vertical take-off and landing (eVTOL) jet. The partnership, which leverages Michelin’s 100 plus years of experience working with the aerospace industry, is a perfect illustration of the Group's commitment to supporting the transformation of aviation to make it more sustainable. November 16, 2023 [Connected Mobility Solutions] – At the 2023 Solutrans trade fair, Michelin presents its range of transportation-related mobility solutions, while demonstrating its commitment to enabling carbon-free mobility. The new MICHELIN Connected Mobility solution brings together all of Michelin’s unique capabilities to ensure that fleet management operations are safer, more efficient and more sustainable. As well, Watèa by Michelin, a mobility operator specialized in the energy transition of professional fleets, has now integrated hydrogen vehicles into its offering. November 28, 2023 [Group] – Michelin announces its decision to restructure operations in Germany, with the gradual shutdown of production operations at its Karlsruhe and Trier plants and of new tire and semi-finished product manufacturing in Homburg, and the transfer of the Customer Service Center from Karlsruhe to Poland. A total of 1,532 employees will be impacted by these operations, which are meant to be completed by the end of 2025. December 5, 2023 [High-Tech Materials] – Symbio, an equally owned joint venture between Michelin, Forvia and Stellantis, inaugurates SymphonHy, comprising both the venture’s first gigafactory and its center of technological and industrial excellence. Located in Saint-Fons, in the Auvergne-Rhône-Alpes region in France, SymphonHy will be the largest integrated fuel cell production site in Europe. Symbio has strengthened its technological and industrial leadership, while reaching a new milestone on the road to zero-emission mobility. December 6, 2023 [Planet] – Michelin, the French national research institute CNRS and the University of Clermont Auvergne have combined their expertise as part of the new BioDLab joint research laboratory, dedicated to studying the degradation and biodegradation of tire wear particles resulting from contact between road and tire. December 22, 2023 [Group] – Michelin marks its e-commerce presence in Australia and Asia Pacific with the acquisition of Tyroola, Australia’s third largest online player for tires and fitting services. The acquisition will enable the Group to offer customers the best possible experience, from online information seeking to tire fitting. January 16, 2024 [Planet] – The Group announces its intention to apply the recommendations of the Task Force on Nature‑related Financial Disclosures (TNFD), in alignment with the targets defined at COP15 in Montreal. The announcement expands on Michelin’s commitments to biodiversity already expressed in 2018 through the act4nature international initiative. January 20-25, 2024 [People] – The Michelin Volunteers program encourages employees to get involved in local community engagement initiatives addressing a broad array of issues, including health, education, emergency relief, safe mobility, the environment, diversity and inclusion. In 2023, 15.7% of Group employees, or 19,700 people, took part in a volunteer program, with a target of 20% set for 2030. Their engagement is helping to support the Group’s deeply held social responsibility commitment to acting in the common good. January 19, 2024 [Group] – Michelin, IFPEN and Axens inaugurate the first industrial-scale demonstrator unit capable of producing bio-based butadiene, representing a major milestone in the creation of a new industry. Built on the Michelin site in Bassens, France, the demonstrator is part of the BioButterfly project, which aims to develop and bring to market butadiene using ethanol derived from plant biomass to replace butadiene made from petrochemical feedstocks. Fourth-quarter 2023 [Planet] – To test the Science-Based Targets for Nature (SBTN) methodology, which enables companies to identify biodiversity issues and prioritize their initiatives, Michelin joined the Natural Capital Lab initiative founded by WWF France and the Environmental Accounting Chair at AgroParisTech in 2020. In 2024, three Group facilities will pilot the methodology in assessing their water use. Fourth-quarter 2023 [People] – Through the Michelin One Care program being gradually rolled out worldwide through 2025, the Group is committed to offering social protection benefits to every employee at important moments in their lives. In 2023, for example, paternity leave was extended, death coverage was improved and healthcare support was broadened in a number of countries. In all, 92% of Group employees benefit from healthcare insurance in compliance with defined standards. Fourth-quarter 2023 [People] – In 2023, Michelin stepped up deployment of its Diversity and Inclusion process, significantly improving the percentage of women employees and the recognition of all forms of diversity. Michelin measures the program’s progress using a composite indicator tracking five metrics: gender diversity, identity, multi-national management, disability and equal opportunity in promotions. In 2023 the indicator improved by two points from the prior year, and now stands at 72, with a target of 80 in 2030.
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