5 _469 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 5 FINANCIAL PERFORMANCE Financial statements 5.3.5 Statement of changes in equity (in € thousands and € per share) 2023 2022 NET INCOME Accounting profit Total: Net income/(loss) 272,053 544,575 Per share: Net income/(loss) 0.38 0.76 RECOMMENDED TOTAL DIVIDEND PAYOUT 965,194(1) 892,647 Recommended dividend per share 1.35(1) 1.25 (1) Subject to approval by shareholders at the Annual Meeting on May 17, 2024. STATEMENT OF CHANGES IN EQUITY (in € thousands) 2023 2022 A) 1. Equity at prior year-end before dividends 7,808,429 8,116,140 2. Dividend approved by the Annual Shareholders Meeting (894,459) (807,879) B) Equity at January 1, 2023 after dividends 6,913,970 7,308,261 C) Movements for the year: 1. Change in capital 420 (2) 2. Change in paid-in capital in excess of par (129) (44,180) 3. Change in reserves and retained earnings(1) (420) (225) 4. Net income 272,053 544,575 D) Equity at December 31, 2023 before dividends 7,185,894 7,808,429 E) TOTAL CHANGES IN EQUITY DURING THE YEAR 271,924 500,168 F) of which changes due to changes in Group structure 0 0 G) TOTAL CHANGES IN EQUITY DURING THE YEAR EXCLUDING CHANGES IN GROUP STRUCTURE 271,924 500,168 (1) Excluding appropriation of net income. 5.3.6 Appropriation of 2023 net income (in € thousands) AMOUNT TO BE APPROPRIATED Retained earnings brought forward from prior year 1,885,645 Net income 272,053 RECOMMENDED APPROPRIATIONS Dividend 965,194(1) Statutory share of income attributed to the General Partners 3,300 Retained earnings 1,189,204 AVAILABLE AT DECEMBER 31 2,157,698 2,157,698 (1) Subject to approval by shareholders at the Annual Meeting on May 17, 2024.
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