_526 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 7 ANNUAL SHAREHOLDERS MEETING OF MAY 17, 2024 Statutory Auditors’ reports It is the responsibility of the Managing Chairman to prepare a report in accordance with Articles R. 225-113 et seq. of the French Commercial Code. Our responsibility is to express an opinion on the fairness of the information taken from the financial statements, on the proposed cancellation of the shareholders’ pre-emptive subscription rights, and on certain other information relating to these transactions, which is presented in this report. We performed the procedures that we considered necessary in accordance with the professional standards applicable in France to such engagements. These procedures consisted in verifying the information provided in the Managing Chairman’s report relating to these transactions and the methods used to set the issue price of the shares to be issued. Subject to a subsequent examination of the terms and conditions of the issues, we have no matters to report as regards the information provided in the Managing Chairman’s report on the methods used to set the issue price of the equity securities to be issued under the 18th, 19th and 20th resolutions. In addition, as this report does not stipulate the methods used to set the issue price of the shares to be issued under the 17th resolution, we do not express an opinion on the basis used to calculate the issue price. Since the final terms and conditions of the issues have not been set, we do not express an opinion in this respect, or, consequently, on the proposed cancellation of the shareholders’ preemptive subscription rights under the 18th and 19th resolutions. In accordance with Article R. 225-116 of the French Commercial Code, we will prepare an additional report if and when the Managers, or either of them, use the delegations of authority to issue equity securities carrying rights to other equity securities, securities carrying rights to equity securities to be issued or shares without preemptive subscription rights. Neuilly-sur-Seine and Paris La Défense, March 19, 2024 The Statutory Auditors French original signed by PricewaterhouseCoopers Audit Deloitte & Associés Jean-Christophe Georghiou Itto El Hariri Frédéric Gourd
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