What impact does the MICHELIN brand have on the Group’s financial performance? > Adeline Challon-Kemoun: With the MICHELIN brand, the Group enjoys a special competitive advantage that largely contributes to the value we create. Our brand is both the most recognized and the most recommended by our customers, often far ahead of other tire brands. In a highly competitive environment, it plays a key role in supporting the perceived value of our products and services and in building brand preference. How do you track the power of the MICHELIN brand? > A C‑K: Since 2020, the initiatives undertaken as part of the Brand Preference transformation program have strengthened the brand’s powerful voice far beyond the tire industry. The Brand Vitality Quotient, which compares MICHELIN to other global masterbrands, enables us to measure this progress, by tracking such key brand attributes as consumers' attachment to the brand (brand love) and innovation. In 2023, our score improved by five points year-on-year and by 13 points compared with 2020. Our efforts to improve the customer experience have also paid off in a significant increase in their satisfaction and their tendency to recommend the brand, as measured by the Net Promoter Score, which stood at 42.7 in 2023, up 1.4 points on 2022 and 2.5 points on 2020. The Michelin in Motion strategy is now well underway. What role is the brand playing in it? > A C‑K: Our brand power is a decisive success factor in the Group’s strategy, by acting as a hallmark of high quality and trust for customers and a beacon for partners and job applicants. The MICHELIN brand is also a vector of credibility and profitability as we expand into new markets. To optimize the brand’s contribution to strategy execution, our priority is to heighten the perception of Michelin’s innovation capabilities across all its business activities. Adeline Challon-Kemoun Executive Vice President, Corporate Engagement and Brands; Executive Vice President, Michelin Lifestyle Business Line Since 2020, the initiatives undertaken as part of the Brand Preference program have strengthened the brand’s powerful voice far beyond the tire industry.” The Michelin brand is a major competitive advantage 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN _29
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