_160 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 4 NON-FINANCIAL STATEMENT Introduction INTRODUCTION Global awareness of the systemic nature of sustainable development issues (planet-wide challenges, social fracturing, etc.) rose considerably over the course of 2023. This is why our response is consistently guided by a commitment to striking the right balance between People, Profit and Planet, the three pillars of our All-Sustainable vision. One of the critical drivers moving this transformation forward may be summed up in one word: engagement. In this respect, 2023 was a pivotal year, when the engagement of our employees strengthened our process and prepared us for the milestones ahead, in particular the new sustainability reporting standards. During this year of transition, the Michelin Group intensified programs to enable every employee to ramp up their skills in addressing sustainable development issues. As part of this process, the new Talent Campus for Sustainability was opened, with job family-specific modules designed not only to give employees greater insights into the issues, but also to help them take action to meet their sustainability challenges. The Group has undertaken powerful commitments across a full range of sustainable development issues, from environmental stewardship to social responsibility, with the following highlights during the year concerning: ● Biodiversity: the Michelin Group pledged to apply the recommendations of the Task Force on Nature-related Financial Information (TNFD) in 2026, with respect to the 2025 reporting year. ● The circular economy: in July, a Michelin car tire containing 45% renewable or recyclable materials won an award in Frankfurt, attesting to the ambitious objectives in the Group’s roadmap. ● The climate strategy: the Group is still aligned with its netzero emissions targets for 2050, which are being pursued without using any carbon credits to offset emissions from its direct or indirect activities, in accordance with SBTi standards. ● Employee relations: Michelin earned certification for all its member companies(1) for ensuring that their employees are paid at least the equivalent of the Fair Wage Network’s living wage benchmark. ● Human rights: the Group rolled out its human rights policy in the operating regions during the year. This corporate transformation is also being built as part of a holistic ecosystemic approach, supported by collaborative projects with the world’s leading sustainable development institutions. In this regard, it is worth noting that in June 2023, Florent Menegaux was elected to a three-year term as President of the United Nations Global Compact France Network. The Michelin Group is deeply dedicated to playing a key role in pursuing sustainable development objectives in local communities and in supporting their economic actors, from small businesses to major corporations. (1) 100% of Group companies, representing 100% of Group employees, except for companies either acquired in 2023 (plus the four RLU companies) or in the process of being sold.
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