Outlook for 2024 In this market environment, the Group expects volumes sold to end the year flat to down 2% compared to 2023. Based on this scenario, Michelin’s objective is to deliver segment operating income at constant exchange rates in excess of €3.5 billion and free cash flow before acquisitions of more than €1.5 billion This outlook has been established and prepared on a basis comparable to historical financial information and in accordance with the accounting methods described following this chapter. In 2024, tire markets are expected to remain stable overall year-on-year in each of the three reporting segments (Passenger car and Light truck tires, Truck tires and Specialty businesses). _40 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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