5 _463 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 5 FINANCIAL PERFORMANCE Financial statements Note 21. FINANCIAL COMMITMENTS 21.1 Forward currency exchange contracts At December 31, 2023, the value in euros of the forward foreign exchange contracts was as follows: ● currency to be received €672 million; ● currency to be delivered €672 million. 21.2 Commitments given: Guarantees In its role as holding company, the Company may give a commitment to support certain controlled subsidiaries should the need arise. The Company is committed to paying €5.5 million to Siparex Associés over the period to 2025, corresponding to the payment in installments of the nominal amount of Siparex bonds redeemable for shares. 21.3 Commitments received On May 23, 2022, the agreement for the €2,500 million syndicated credit lines was amended. The new agreement provided for a new five-year maturity (2027) with two one-year extension options at the lenders' discretion. The first extension option was exercised in 2023, extending the maturity of substantially all the lines to 2028 (€2,454 million). Note 22. EVENTS AFTER THE REPORTING DATE Michelin is one of the European tire manufacturers under investigation by the European Commission. The Group reaffirms that it scrupulously complies with antitrust legislation in every host country. As a result, it categorically denies the existence of any anticompetitive practices, as alleged by the European Commission in its January 30, 2024 press release, much less any price coordination. No impact has been recognized in the 2023 financial statements.
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