06 Investor relations Additional share information 6.5.5 EMPLOYEE SHARE OWNERSHIP Michelin regularly enables employees to purchase shares of Company stock on preferential terms through recurring employee share ownership plans. Increasing the percentage of capital held by employees enhances the unique, critical role that each one plays in implementing Michelin’s strategy. As one of the Group’s key priorities, share ownership by employees reflects their confidence in the Group’s strategy and gives them a direct stake in its financial performance. Michelin is committed to ensuring that its employee shareholders remain a loyal foundation. They currently represent 30% of all shareholders and own 2.6% of outstanding shares, in addition to former employees who hold an aggregate 1.2% stake. Employee share ownership plans have been a resounding success. The 2024 offer, for example, was taken up by more than 56% of employees, for a total of more than 66,000 investors in 46 countries. On December 18, 2024, the French Federation of Employee Shareholders (FAS) awarded Michelin its “CAC All-Tradable Grand Prize” in recognition of the Group-wide employee shareholding initiatives that have been an integral part of the Group’s valuesharing commitment for more than 20 years. 6.5.6 INFORMATION CONCERNING A SHARE BUYBACK PROGRAM CURRENTLY IN EFFECT The following information includes the disclosures reported in the Managing Chairman’s Report in compliance with Article L. 225-211 of the French Commercial Code. Authorization to buy and sell Company stock granted by shareholders at the May 12, 2023 Annual Meeting Authorization to buy and sell Company stock granted by shareholders at the May 17, 2024 Annual Meeting Resolution valid up to 18 months 18 months Maximum purchase price per share (excluding costs) €55 €55 Total purchases authorized up to 10% of issued share capital 10% of issued share capital Authorized purposes of the purchases(1) Employee share ownership Maintaining a liquid market Share grants without consideration Cancellation Acquisitions, mergers, de-mergers or asset contributions Employee share ownership Maintaining a liquid market Share grants without consideration Cancellation Acquisitions, mergers, de-mergers or asset contributions Number of shares bought back during the year 2,982,980 shares 11,493,962 shares Analysis by purpose 0 repurchased shares were allocated to employee share ownership plans 2,982,980 repurchased shares were canceled 0 repurchased shares were allocated to employee share ownership plans 11,493,962 repurchased shares were canceled Number of shares held at December 31, 2024 0 shares Average share buyback price €33.8821 €34.7078 Average exercise price N/A N/A Total cost of shares repurchased €101,069,640 €398,930,604 Transaction fees - - Use of derivative instruments None – no open positions at December 31, 2024 (1) Including any market practices that may be authorized in the future. 487 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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