CAPITALIZING ON OUR FUNDAMENTALS Major trends The major trends reshaping a world in transition Michelin’s operating environment is being reshaped by three deep structural trends. In response, the Group intends to capitalize on its powerful innovation and its All Sustainable vision, consistent with its corporate dream of being recognized in 2050 as a leader in innovation capable of helping humanity to explore new frontiers. The environmental transition The resulting challenges for Michelin Making ecodesign standard practice and performing life cycle assessments on all our products and services. Improving our ability to safeguard natural resources by expanding the circular economy and increasing the proportion of renewable and recycled materials used in our products. Reaching net-zero carbon emissions by 2050 in Scopes 1 and 2 and in the Scope 3 categories of upstream and downstream logistics activities, suppliers, treatment of end-of-life tires and energy. Continuing to improve the energy efficiency of our products and further reducing tire and road wear particle emissions. Reducing our water withdrawals more quickly. With global warming, ecosystem degradation and biodiversity loss, humanity is facing an unprecedented challenge. Given that planetary resources are limited, the current growth model has to be reinvented to become lower carbon, more energy-efficient, more circular and more resilient. We also have to rethink the ways we produce and consume, so that resources can be better used. _8 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN The major trends reshaping a world in transition
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