_528 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 7 ANNUAL SHAREHOLDERS MEETING OF MAY 17, 2024 Statutory Auditors’ reports 7.3.3 Statutory Auditors' report on the share capital decrease (Combined Shareholders’ Meeting held on May 17, 2024 - 26th resolution) This is a free translation into English of the Statutory Auditors’ report issued in French and it is provided solely for the convenience of English speaking users. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France. Compagnie Générale des Établissements Michelin 23 place des Carmes-Déchaux 63000 Clermont-Ferrand To the Shareholders’ Meeting, In our capacity as Statutory Auditors of your Company and pursuant to the provisions of Article L. 22-10-62 of the French Commercial Code (Code de commerce) concerning share capital reductions carried out by cancellation of shares purchased, we hereby report to you on our assessment of the reasons for and the terms and conditions of the proposed share capital decrease. Your Managing Chairman proposes that you delegate to the Managers, or anyone of them, for a period of 24 months from this Shareholders’ Meeting, the authority to cancel, up to a maximum of 10% of the share capital in any 24-month period, the shares purchased by the Company pursuant to the authorization to purchase its own shares under the provisions of the above-mentioned Article of the French Commercial Code. We performed the procedures that we considered necessary to comply with the professional guidelines of the French National Institute of Statutory Auditors (Compagnie Nationale des Commissaires aux Comptes) relating to this engagement. Those procedures consisted in examining whether the reasons for and the terms and conditions of the proposed share capital decrease, which does not interfere with the equal treatment of shareholders, are due and proper. We have no matters to report on the reasons for or terms and conditions of the proposed share capital decrease.. Neuilly-sur-Seine and Paris La Défense, March 19, 2024 The Statutory Auditors PricewaterhouseCoopers Audit Jean-Christophe Georghiou Itto El Hariri Deloitte & Associés Frédéric Gourd 7.3.4 Other Statutory Auditors’ reports The Statutory Auditors’ reports to the Annual Shareholders Meeting of May 17, 2024 that are not presented below can be found in the following sections of this Universal Registration Document: ● Report on the Company financial statements: in section 5.3.3; ● Special report on related-party agreements and commitments: in section 5.3.4; ● Report on the consolidated financial statements: in section 5.2.2; ● Report by one of the Statutory Auditors, appointed as an independent third party, on the consolidated environmental, labor and social information presented in the management report: in section 4.2.4.
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