Sustainability Statement Water and marine resources (E3) 04 4.4.3.2 Increasing attention to water matters in the upstream value chain The following initiatives have been deployed to mitigate water risks in the upstream value chain: n identifying the production sites of raw material suppliers (except natural rubber) deemed most at water-related risk during a dedicated review performed in 2022 using the Water Risk Filter and Aqueduct applications. l The findings were updated in 2024 as part of the mapping of sites at physical climate risk (water stress, flooding, water levels), which includes both our own operations and the main production plants of our raw material suppliers. Projects to approve new raw material suppliers or new raw material supplier sites include an assessment of the abovementioned physical climate risks during the opportunity phase; n mapping risks in the natural rubber supply chain with RubberWay to identify the highest-risk areas among the raw rubber processing plants, brokers, large plantations and village smallholders, and to share the findings with suppliers so that they can undertake remedial action and deploy improvement plans. The application includes water-related questions, which go into greater depth for the processing plants (see sections 4.5 Biodiversity and ecosystems (E4) and 4.9 Workers in the value chain (S2)); n assessing the CSR maturity of the leading Tier 1 suppliers. These audits, which are generally desktop reviews, are conducted by a third-party, Ecovadis, and suppliers are expected to earn a minimum overall compliance score. The audits also address water-related issues. If supplier answers fall short of compliance, action plans are requested. These assessments apply to all types of inputs and are prioritized according to the sourcing country’s level of risk and the category and value of the purchases. n On-site audits of raw material suppliers conducted as part of supplier quality system assessments include questions relating to environmental policies, regulations and the use of water consumption and other metrics. n Annual or biennial audits of natural rubber processing plants performed as part of quality system assessments address environmental issues, with a particular focus on water treatment. If the findings fall short of compliance, remedial action plans are requested. n In addition, in 2024, the Group prepared a biodiversity questionnaire for its main suppliers of raw materials other than natural rubber. Scheduled for pilot-launch in 2025, the questionnaire includes a series of water-related queries that will help to gauge the assessed supplier’s water maturity. Selected suppliers will also be interviewed to explore these issues in greater depth. By 2030, 80% of suppliers will be covered by the biodiversity questionnaire. Resources primarily concern the time spent by purchasing teams, Group CSR experts and on-site auditors, as well as the costs associated with CSR assessment platforms. Note that the initiatives cut across several CSR issues and are not specific to water resources. 4.4.4 WATER METRICS AND TARGETS 4.4.4.1 Water resource targets Michelin has defined a target for reducing water withdrawals in all its production sites. It is based on withdrawals because the tire industry is not a particularly heavy user of water compared to other industries. The Group's 2030 target is to reduce withdrawals, weighted for each site’s water-stress coefficient, by 33% compared to 2019 (metric: water stress multiplied by cubic meters of water per tonne of semi-finished and finished product). It is aligned with the Group’s commitment to having “zero impact on water availability for local communities” by 2050, as affirmed in the Group's Environmental Policy. The target, which exceeds prevailing local standards, is part of an assertive initiative, with the plants enjoined to comply, at the very least, with the requirements of their operating permits. The target has been set internally, as an initial milestone towards the Group's 2050 objective. For the time being, there are no plans to change targets or metrics between now and 2030. The Group’s annual reductions in water withdrawals indicate that it is on track to reach this milestone. 236 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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