5 _411 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 5 FINANCIAL PERFORMANCE 2023 consolidated financial statements Changes in financial liabilities and derivatives are detailed by flow in the table below: (in € millions) At January 1, 2023 Cash flows from financial liabilities Non-cash movements At December 31, 2023 Conversions Other Bonds, loans from financial institutions and other 4,691 (10) (16) 3 4,668 Lease liabilities 690 - (13) 61 738 Derivative instruments 14 (10) - - 4 Non-current financial liabilities 5,395 (20) (29) 64 5,410 Bonds, loans from financial institutions and other 1,726 (1,134) (32) 15 575 Lease liabilities 233 (279) (4) 291 241 Derivative instruments 100 (3) - (81) 16 Current financial liabilities 2,059 (1,416) (36) 225 832 TOTAL FINANCIAL LIABILITIES 7,454 (1,436) (65) 289 6,242 Derivatives recognized as assets (208) (19) - 109 (118) Net impact in the consolidated statement of cash flows (1,455) 26.1 Bonds and commercial paper The table below provides detailed information about the bonds and commercial paper issued by the Group: (in € millions) December 31, 2023 December 31, 2022 Current Non-current Current Non-current Bonds repayable by Compagnie Générale des Établissements Michelin - 313 nominal amount of €302 million issued in September 2015 and September 2016 and due in September 2045 nominal interest rate of 3.25% effective interest rate of 3.02% - 314 Bonds repayable by Compagnie Générale des Établissements Michelin nominal amount of €500 million issued in October 2020 and due in November 2040 nominal interest rate of 0.625% effective interest rate of 0.68% - 496 - 496 Bonds repayable by Compagnie Générale des Établissements Michelin - 744 nominal amount of €750 million issued in August 2018 and due in September 2038 nominal interest rate of 2.50% effective interest rate of 2.56% - 744 Bonds repayable by Campus SAS • nominal amount of €1.5 million • issued in June 2008 and due in June 2033 • nominal interest rate of 5.50% • effective interest rate of 5.50% - 2 - - Bonds repayable by Compagnie Générale des Établissements Michelin nominal amount of €500 million issued in October 2020 and due in November 2032 nominal interest rate of 0.25% effective interest rate of 0.32% - 497 - 496
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