Michelin launches a new global employee participation plan: BIB’Action 2024 Page 1

Compagnie Générale des Établissements Michelin (hereinafter the “Company”) today announced the launch of its new employee participation plan, open to 127,000 employees in 44 countries¹,2.
Since 2002, the Company has regularly offered employee share plans and confirms its intention to renew the plans every year, so that its employees are among the Group’s main shareholders.

Yves Chapot, General Manager and Chief Financial Officer of Michelin said: “Strengthening employee ownership within the Michelin Group is a priority. By increasing the percentage of capital held by employees, we emphasise the unique and crucial role of each individual in the implementation of our strategy. By becoming shareholders, employees can participate in the Group’s value creation and benefit from the advantages, both as employees and shareholders.”

The subscription period runs from September 11 to September 26, 2024.
On September 9, 2024, the Managers set the subscription price at €28.08. The subscription price is equal to 80% of the reference price (corresponding to the average of the opening prices of Michelin shares on Euronext Paris during the 20 trading days preceding the date on which the subscription price is set), i.e. the reference price reduced by a discount of 20%.².

The plan proposed by Michelin is as follows:

• Up to the first five shares subscribed, the Group will contribute two free shares for each share subscribed.
• From six to fifteen shares subscribed, the Group will contribute one free share for each share subscribed.
• From 16 to 65 shares subscribed, the Group will contribute one free share for every five shares subscribed.
• Beyond 65^and Michelin will no longer provide free shares, but the 20% discount will be maintained.

Each employee may acquire up to 2,000 Michelin shares under the plan, within the legal limit of a maximum subscription amount in accordance with local country regulations.