Sustainability Statement Business conduct (G1) 04 GOVERNANCE MATTERS 4.11 BUSINESS CONDUCT (G1) Three questions for Charlotte Grass, Chief Compliance Officer “Today, ethical business practices are indispensable if we want to build trust and act as an agent of all-sustainability.” What is the Group’s commitment with regard to ethical business practices? As day by day, we build the Michelin of tomorrow, the concern for ensuring that individual and collective conduct remains consistent with its values and ethical principles is always top of mind. More than ever, our goal is to make these values and principles a single, clearly identifiable foundation on which every Group employee can stand, wherever they are and whatever their responsibilities. Among other things, this means that the Group pays particular attention to deploying a wide range of compliance-related prevention and detection programs in all its units and Business Lines. What is at stake for the Michelin Group in its business conduct? Trust – that’s what ethical business conduct is all about for Michelin. The trust of its employees, the trust of its customers, the trust of its shareholders and, more generally, the trust of all its internal and external stakeholders. This trust, which is more vital but harder to build than ever in this time of quickening technological, climate and social change, undeniably stems from the Group’s ability to conduct its business ethically. What sets the Michelin Group apart in its business conduct? Since its founding, Michelin’s employees have embraced the values of respect that are the building blocks of its corporate DNA. Embodied in guiding principles, these values inspire employees as they conduct the Group’s business ethically and in compliance with applicable regulations. The Group has deployed an organization and a governance structure dedicated to addressing current and emerging ethics and compliance issues, both at corporate level and in the Regions and the Business Lines. The Group’s cross-cutting, multi-disciplinary approach gives it a granular vision of its risk picture. What underpins all this is the empowerment of the various stakeholders in every aspect of the business and with it, a shared commitment to living our ethical principles. The Group attaches particular importance to a culture of speaking up, particularly with regard to any breaches of its ethical principles, so that compliance with them is always the norm. 286 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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