6 _493 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 6 INVESTOR RELATIONS Additional share information INTERIM FULFILLMENT OF PERFORMANCE CONDITIONS UNDER THE NOVEMBER 17, 2023 PERFORMANCE SHARE PLAN FOR EMPLOYEES AND THE MANAGERS Criteria Weighting Interim results 2023 vs. 2022 Share price performance Michelin share price must outperform the Stoxx Europe 600 index by at least 5 points, comparing the average closing price in 2022 and in 2025 Result calculated on a straight-line basis between the threshold of 0 and the targeted 5 points 30% -7.8% 2023 2024 2025 Corporate social responsibility performance Industrial-Michelin Environmental Performance – i-MEP(1) must be below 80 points in 2025 Result calculated on a straight-line basis between the threshold of 86 and the targeted 80 points 20% 83.9 points - - The employee engagement rate must exceed 84.5% in 2025. Result calculated on a pro rata basis between 83% and 84.5%, capped at 16% Result calculated on a pro rata basis between 83% and 84.5%, capped at 20% 20% 83.5% - - Operating performance Average annual growth in revenue, excluding tires and distribution, must exceed 12% over the 2022-2023, 2023‑2024 and 2024-2025 periods Result calculated on a straight-line basis between the threshold of 7% and the targeted 12% 15% 10% - - Total consolidated ROCE (including acquisitions, related goodwill and equity-accounted companies) must exceed 12% in 2025 Result calculated on a straight-line basis between the threshold of 10% and the targeted 12% 15% 11.4% - - (1) Annual scope based on reported figures, including acquisitions from the fourth year of consolidation in the Group’s financial statements. Performance shares vested and delivered Note that during 2023: ● the two Managers received 104,262 performance share rights (one received 65,164 and the other received 39,098); ● the two Managers did not receive any fully vested shares; ● the ten employees other than Managers who were granted the greatest number of share rights: ● received 151,090 performance share rights; ● received 61,052 fully vested performance shares. Clermont-Ferrand, February 9, 2024 Florent Menegaux Managing Chairman
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