CAPITALIZING ON OUR FUNDAMENTALS High-Tech Materials High-Tech Materials With FCG, Michelin has consolidated a leader in high-tech fabrics and films In September 2023, Michelin announced that it had acquired Flex Composite Group, marking a significant step forward in the development of its high-tech materials business in perfect alignment with the Michelin in Motion 2030 strategy. The new combination is a leader in high-tech fabrics and films, leveraging Michelin’s unrivaled innovation and R&D capabilities and FCG’s advanced customer intimacy and industrial process expertise. FCG offers very high value-added applications in extremely technical markets, such as superyachts, supercars and EVs, sports and infrastructure. The transaction will increase sales of Michelin’s High-Tech Materials business by around 20%, positioning the Group as the go-to source of composite solutions. 400 employees €200m in sales in 2023 9% organic growth from 2015 to 2023 22% EBIT margin 6 production plants in Europe 15% of the patents filed by Michelin in 2023 concerned high-tech materials. Carbon-fiber engineered fabrics _22 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN High-Tech Materials
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