06 Investor relations Additional share information Fulfillment of performance conditions under performance share plans in effect in 2024 Fulfillment of performance conditions under the November 17, 2021 performance share plan for employees and the Managers Criteria Weighti ng Results Achievemen t rate 2023 vs. 2020 Share price performance n Michelin share price must outperform the Stoxx Europe 600 index by at least 5 points, comparing the average closing price in 2020 and in 2023 n Vesting prorated to the achievement rate between the trigger point of 0 and the targeted 5 points 30% -4.6 points 0% 2021 2022 2023 Average Corporate social responsibility performance n Industrial-Michelin Environmental Performance – i-MEP(1) must be below 88 points in 2023 n Result calculated on a straight-line basis between the threshold of 92 and the targeted 88 points 20% 92.6 points 88.8 points 83.9 points 20% n Change in average employee engagement rate must exceed 1 point a year on a like-for-like consolidated basis over the 2021-2023 period n Vesting prorated to the achievement rate between the trigger point of 0.0 and the targeted 1.0 point 20% -2.0 points +2.8 points +1.0 point 0.6 points(1) 11.7% Operating performance n Average annual growth in revenue, like-for like excluding tires and distribution, must be at least 8% over the 2020‑2021, 2021-2022 and 20222023 periods n Result calculated on a straight-line basis between the threshold of 3% and the targeted 8% 15% +7.7% +22.0% 10% 13.2% 15% n Total consolidated ROCE (including acquisitions, related goodwill and equity-accounted companies) must be at least 11% in 2023 n Result calculated on a straight-line basis between the threshold of 10% and the targeted 11% 15% 10.3% 10.8% 11.4% 15% TOTAL 62% (1) Calculation based on unrounded figures. Given that the performance conditions were partially met, no more than 62% of the performance shares will vest. Note that in accordance with the approved “say on pay” policy, the vesting period will end for all grantees in November 2025 and the Managers must retain 40% of the vested shares for as long as they remain in office. 483 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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