Financial performance 2024 consolidated financial statements 05 Note 18 RELATED-PARTY TRANSACTIONS Management and Supervisory Bodies In 2024, Florent Menegaux, Managing Chairman and Managing General Partner of Compagnie Générale des Établissements Michelin, received a statutory distribution of €1.7 million in 2023 based on 2023 net income (2023 based on 2022 net income: €0.9 million). He was also awarded compensation of €1.5 million (payroll taxes included) as Chairman of Manufacture Française des Pneumatiques Michelin (2023: €1.5 million). The benefits that vested during the period in respect of a post-employment defined benefit plan amounted to €0.3 million (2023: €0.4 million). In addition, an expense of €1.1 million (2023: €0.8 million) was recognized in the Company’s financial statements, corresponding to performance shares granted to Florent Menegaux in respect of years after 2019. Yves Chapot received compensation of €2.4 million (payroll taxes included) in 2023 as General Manager of Compagnie Générale des Établissements Michelin (2023: €1.9 million). The benefits that vested during the period in respect of a post-employment defined benefit plan amounted to €0.5 million (2023: €0.6 million). A provision of €0.6 million (including payroll taxes) was recognized based on vested rights under the annual variable compensation plan. In addition, an expense of €0.7 million (2023: €0.5 million) was recorded in the Company's financial statements, corresponding to performance shares granted to Yves Chapot in respect of years after 2019. At December 31, 2024, the Group Executive Committee had nine members (2023: nine members). Employee benefits costs for members of the Group Executive Committee break down as follows: (in € millions) 2024 2023 Short-term and termination benefits 14.2 9.2 Post-employment benefits 2.2 1.5 Other long-term benefits - - Share-based payments 1.8 1.5 COMPENSATION GRANTED TO MEMBERS OF THE GROUP EXECUTIVE COMMITTEE 18.1 12.2 The compensation paid in 2024 to the members of the Supervisory Board for their services in 2023 amounted to €0.9 million. Note 19 EVENTS AFTER THE REPORTING DATE No material events occurred between the reporting date and the date when the consolidated financial statements were authorized for issue by the Managing Chairman. 426 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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