Financial performance Financial statements 05 Note 18 MANAGEMENT COMPENSATION As per its Bylaws, the Company is administered by one or several Managers. Managers who are General Partners are entitled to a share of the income distributed among all the General Partners in accordance with the provisions of the Bylaws. The General Manager is paid fixed and variable compensation. The statutory share of 2023 profit paid in 2024 to Florent Menegaux, Managing General Partner and Managing Chairman, amounted to €1,650 thousand (2023 for 2022: €906 thousand). The total compensation (fixed compensation, variable compensation payable in 2024 for 2023) paid by the Company to Yves Chapot, General Manager, amounted to €2,420 thousand (including payroll taxes) in 2024 (2023: €1,910 thousand). In addition, a €641 thousand accrual (including payroll taxes) was recorded at December 31, 2024 to cover his 2024 bonus payable in 2025. Benefits in kind amounted to €8 thousand. Note 19 FEES PAID TO THE STATUTORY AUDITORS Fees paid to the Statutory Auditors are disclosed in note 21 to the consolidated financial statements. 454 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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