07 Annual Shareholders Meeting of May 16, 2025 Report of the Supervisory Board: recommendations concerning the votes on the proposed resolutions 7.2.3 APPROVAL OF THE FINANCIAL STATEMENTS, RELATED-PARTY AGREEMENTS AND FINANCIAL AUTHORIZATIONS (1ST TO 5TH AND 14TH RESOLUTIONS) Concerning the other ordinary resolutions, the accounting and financial information communicated to shareholders and the Managing Chairman’s report present the Group’s operations and results for 2024 (for the purposes of the 1st, 2nd and 3rd ordinary resolutions). We have no comments on the Statutory Auditors’ reports on the financial statements. As no new related-party agreements requiring shareholder approval were entered into in 2024, shareholders are asked to place on record that there are no such agreements to approve (4th resolution). Before asking shareholders to approve the financial statements of the Company, the consolidated financial statements and the proposed appropriation of net income, we would like to repeat our very positive assessment of the way the Group is run and to reaffirm our absolute confidence in its management. Michelin's teams have provided a compelling demonstration of their engagement and the Group's resilience in a very unstable economic and geopolitical environment. They also lead us to support the Managing Chairman’s recommendation to set the dividend at €1.38 per share (2nd resolution). The Company wishes to renew its share buyback program on similar terms as for the previous program (5th resolution). An authorization to cancel shares bought back under the program is also being sought to replace the authorization granted at the 2024 Meeting (14th extraordinary resolution). We recommend that shareholders adopt the proposals submitted by the Managing Chairman for their approval by voting in favor of the corresponding ordinary and extraordinary resolutions. February 11, 2025 The Supervisory Board 505 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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