Corporate governance report Financial authorizations 02 Issuance of shares and share equivalents without pre-emptive subscription rights Corporate action Resolution Duration (expiration date) Maximum issue amount, based on a share price of €32(1) (in €) Maximum aggregate par value of shares (in €) Utilization during the year Issuance of shares and/or securities carrying rights to shares 20th 26 months (July 2024) n €2.240 billion (ordinary shares) n €2.50 billion(4) (securities carrying rights to shares) €35 million(2)(3) (less than 10% of issued capital) None Issuance of shares and/or securities carrying rights to shares through an offer governed by Article L. 411-2 of the French Monetary and Financial Code (Code monétaire et financier) 21st 26 months (July 2024) n €2.240 billion (ordinary shares) n €2.50 billion(4) (securities carrying rights to shares) €35 million(2)(3)(5) (less than 10% of issued capital) None Determination of the issue price 22nd 26 months (July 2024) n €2.240 billion (ordinary shares) n €2.50 billion(4) (securities carrying rights to shares) €35 million(2)(3)(5) (less than 10% of issued capital) None Issuance of ordinary shares in connection with a stockfor-stock offer or in payment of contributed assets 25th 26 months (July 2024) €2.240 billion €35 million(5) None (1) CGEM share price at December 31, 2024, rounded up to the nearest whole number. (2) With the aggregate par value of shares issued in connection with all of the authorized transactions not to exceed €125 million, excluding any shares issued under the 24th and 26th resolutions (27th resolution). (3) This amount may be raised by up to 15% if the issue is oversubscribed, subject to the ceilings set respectively in the 19th, 20th and 21st resolutions (23rd resolution). (4) With the aggregate nominal amount of all debt securities, with or without rights to shares, authorized by the 19th, 20th, 21st and 23rd resolutions not to exceed €2.5 billion (27th resolution). (5) Amount to be included in the maximum total capital increase authorized under the 20th resolution. Employee share issues and/or issue of shares to the Managers and the Chair of the Supervisory Board Corporate action Resolution Duration (expiration date) Comments Utilization during the year Issuance of new ordinary shares 26th 26 months (July 2024) Less than 2% of issued capital None Share buyback program Corporate action Resolution Duration (expiration date) Limitations Utilization during the year Share cancellations 28th 24 months (May 2024) 10% of the current capital None 148 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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