_250 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 4 NON-FINANCIAL STATEMENT Sustainable Development Report United States: Ardmore, Oklahoma plant On October 26, 2023, Michelin North America announced that it would wind down tire production at its plant in Ardmore, Oklahoma, which will impact around 1,400 people. Rubbermixing operations are, however, expected to continue. This decision was informed by shifting markets and the profound transformations in the North American market, as well as by the inability of the plant to deliver tires at competitive costs to meet evolving demand. The phase out should be completed by the end of 2025. In line with its values, Michelin is committed to supporting employees, the community and its partners throughout the transition. Specific details were discussed directly with employees. Going forward, Michelin will offer retention bonuses and outplacement services to achieve a smooth transition for employees and customers. When staffing reductions begin in 2024, employees will be offered a combination of early retirement, separation benefits and financial incentives for relocation support. The Company will work closely with public and private sector partners to explore new uses for the site, in the best interests of the community and our employees. Michelin will support the creation of local jobs in the Ardmore community. 4.1.2.4 Supporting employee growth and development SDG 4.3, 4.4 and 4.5. As part of its All Sustainable strategy, the Group has to attract and retain new talent to protect its independence and continue to innovate. In response, the Corporate Personnel Department (DCP) strives to foster an environment in which employee growth and development are embedded in the heart of the Michelin saga (via the Manufacture des Talents, for example). It is tasked with ensuring that: ● the requisite skills and talents are available to the Company in the right place at the right time, ● employees have access to a full range of resources to grow professionally (a skills management system, development solutions, etc.) and boost their employability, ● the employee development process is focused on acquiring leadership and behavioral skills, ● social dialogue is consistently high-quality. The Department upholds the values of respect, diversity and inclusion and the equal treatment of all employees, in particular by ensuring compliance with the seven personnel policies: Hiring, Employee Development, Employee and Team Compensation, Diversities & Inclusion, Employee Relations, Health, Safety and Quality of Worklife, and Anti-Harassment. The front-line outcomes of these policies are primarily measured by the annual employee engagement rate, as determined by the findings of the global "Moving Forward Together" survey. With a survey response rate of 91%, the engagement rate stood at 84% in 2023, a one-point year-on-year gain that attests to the trust that has been forged between the Group and its employees over the years. The target engagement rate is 85% in 2030. Every unit has a Development Partner reporting to the Corporate Personnel Department and supported by the unit’s line managers and Competency Managers. Employee support and development processes are based on the Group-wide Workday HR information system. Workforce overview The number of employees was virtually unchanged in 2023, ending the year at 132,496 people(1). (1) Including the dealership networks and recently acquired companies.
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