_126 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 3 CORPORATE GOVERNANCE REPORT Information about the components of compensation paid or awarded to the corporate officers 3.4.3.1 Fixed compensation In application of the 2023 compensation policy, the fixed compensation received by Florent Menegaux amounted to €1,100,000.00(1). 3.4.3.2 Annual variable compensation Florent Menegaux's annual variable compensation has been determined in application of the 2023 compensation policy and the recommendation of the Supervisory Board, and is deducted in full from the General Partners' Profit Share(2). The achievement rates for the criteria that determine the amounts due in respect of annual variable compensation are as follows: Criterion Objective Measurement method(1) Min. Target Max. 2023 actual Achievement rate Quantitative criterion and objective related to the position of General Partner/ 1st component Net income Profit As a % of the Profit Share N/A N/A N/A N/A N/A Value of the indicator 4% 4% 4% 4% 4%(1) Quantitative criteria and objectives/ 2nd component (50% of the target fixed compensation) 2023 segment operating income (SOI) Profit As a % of fixed compensation 0% 25% 37.5% - 37.5% Value of the indicator €3,150m €3,400m €3,550m €3,866m - Growth in free cash flow before acquisitions Profit As a % of fixed compensation 0% 25% 37.5% - 37.5% Value of the indicator €1,400m €1,800m €2,050m €3,009m - Total quantitative/2nd component 0% 50% 75% - 75% Quantifiable qualitative criteria and objectives/ 2nd component (30% of the target fixed compensation) Implementation of the strategy (deployment of the transformations) Profit Board assessment based on implementation of the Balanced Score Card As a % of fixed compensation 0% 10% 15% - 9.5% Value of the indicator N/A N/A N/A N/A N/A Total Case Incident Rate (TCIR) People As a % of fixed compensation 0% 5% 7.5% - 7.08% Value of the indicator 1.15 1.06 1.00 1.01 - Percentage of Group management positions held by women People As a % of fixed compensation 0% 5% 7.5% - 6.75% Value of the indicator 19.8% 20.8% 21.8% 21.5% - CO2 emissions (Scopes 1 and 2) Planet As a % of fixed compensation 0% 10% 15% - 9.79% Value of the indicator 2.3mt 2.16mt 2.02mt 2.163mt - Total quantifiable qualitative/2nd component 0% 30% 45% 33.12% Total quantitative and qualitative excluding net income criterion 108.12% TOTAL VARIABLE COMPENSATION AS % OF FIXED COMPENSATION/ 1ST AND 2ND COMPONENTS (rounded to the nearest decimal) 0% N/A 150% 151.4%(2) (1) Compensation paid by Manufacture Française des Pneumatiques Michelin (MFPM) in consideration of his role as Chairman of the Company. (2) See the 2nd resolution presented to the Annual Shareholders Meeting of May 17, 2024. The Profit Share is fixed in the Company’s Bylaws and is capped at 0.6% of consolidated net income for the year (see sections 3.3.2.3 and 3.10.5 of this 2023 Universal Registration Document).
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