N° 721 - JULY 2020

TOWARD SUSTAINABLE MOBILITY

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For more sustainable mobilityIn an EpE* editorial published in French newspaper Le Monde, 90 French and international business leaders, including Florent Menegaux, called for collective action to ensure that economic recovery efforts help speed up the ecological transition.To contribute to this goal, Michelin makes tires that save energy and raw materials and is developing bio-sourced materials and hydrogen-powered mobility solutions to help tackle climate change.

EpE*: Entreprises pour l’Environnement (Companies for the Environment)

Important dates coming up!

2 JULY 2020

GROUP > IN BRIEF

Our "All-Sustainable" vision includes actions to make a positive contribution to the planet. To reduce the company's carbon footprint and limit greenhouse gas emissions, Michelin is increasingly using renewable energy. Our European plants are supplied with 85% guaranteed renewable electricity and CO2 emissions from these plants have decreased by nearly 25% since 2010.

Our CO2 reduction goals for 2030 were approved by the Science Based Targets initiative (SBTi), an international collaboration between the CDP*, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. * Formely called Carbon Disclosure Project

Your voice counts! Tell us about your experience at work through the annual Moving Forward Together engagement survey.

Mercer Sirota will send you an email with a personal access link starting on August 17 or September 2, depending on the country.

Become a Michelin shareholder by subscribing to the BIB'Action plan from September 16 to October 1.

More information will be available on August 24 at www.bibaction.com.

Safer mobility is one of Michelin's top priorities During the 3rd Global Ministerial Conference on Road Safety in Stockholm, the Group's CEO, Florent Menegaux, reaffirmed Michelin's commitment: "At Michelin, safety is at the core of everything we do. We believe safe mobility is crucial, as it makes mobility better and more accessible for all.” The "Stockholm Declaration" signed at the conference emphasizes the importance of stronger international cooperation to achieve sustainable development objectives on health by 2030, with a focus on road safety.

At the Movin'On Digital Meetings in early June, Michelin and Essilor, the world's leading ophthalmic optics company, unveiled their joint awareness

campaign, "Together for safe mobility: Check your vision, check your tires." This global campaign will be deployed progressively in pilot countries via joint actions on the ground to promote safe mobility.

Because young people represent the highest number of road accident victims, the Total Foundation and the Michelin Corporate Foundation have developed a fun and interactive game for 10-18-year-olds. The VIA — Global Road Safety educational game is a quiz that can be downloaded from Google Play in French and English. The game covers five transportation methods: walking, riding a motorcycle, cycling, driving, and using public transportation. Players can test themselves and learn about the risks associated with road use.

To learn more about Sustainable Mobility and Development

You can now visit the "Corporate Social Responsibility" module in inTouch Learning. To expand your knowledge, three other e-learning courses are being prepared for 2021:

• Environment, CO2 & biodiversity• Michelin's Commitments, Ambitions & Performances• Stakeholders, Social Issues, Human Rights

CONTENTS

NEWS

02 In brief • Important dates coming up!

• Safer mobility is one of Michelin’s top priorities • For more sustainable mobility

04 Products and services • MICHELIN AGILIS 3 : For the environment and their business

• MICHELIN TRAILXBIB : Feeding the planet while preserving their soil, a daily challenge for farmers

• Fleet management for more sustainable transport

05 Motorsport From the racetrack to virtual events

06 Simply Michelin Identifying levers of simplification!

07 Movin’On Sustainable mobility for all

3JULY 2020

EDITOThe health crisis of the past months has confirmed that the “All-Sustainable” Michelin strategic vision is more than ever the path to follow to ensure the necessary economic recovery. Many of our collective actions within the Group or its ecosystem reflect the merits of a better balance between the three dimensions People / Profit / Planet.

In this issue, you will learn about our commitments in sustainable and innovative mobility with Movin’On, our products and services developed in coherence with our environment policy and an update on the SIMPLY MICHELIN project, our internal simplification plan.

Enjoy reading.

Group Internal Communication Team

GROUP > PRODUCTS AND SERVICES

4 JULY 2020

MICHELIN AGILIS 3 tire: the summer tire with a low environmental footprintfor light commercial vehicles

Fleet management for more sustainable transport Services & Solutions are one of the Group’s growth areas. They widen the range of possibilities for more connected sustainable mobility. Since 2016, Michelin has significantly expanded our range of offerings to become one of the world’s top five fleet management companies.Though transportation companies are mainly focused on efficient processes and personal safety, a majority of them see the need to take a more sustainable approach. Michelin is meeting this need with a geofencing solution that identifies precise delivery routes in a given area to optimize the number of stops. Geofencing also provides drivers with recommended speeds to reduce braking and acceleration. This results in fuel savings, less wear and tear on spare parts, and less resource consumption for optimized deliveries.

Geofencing: an offer to better serve transportation companies

Feeding the planet while preserving their soil: a daily challenge for farmers What farmers need most for their tractors is a sturdy, long-lasting tire. Michelin has met this challenge by working with them to co-design the new MICHELIN TRAILXBIB line, a global range to be launched by the end of July 2020.

By combining MICHELIN ULTRAFLEX1 technology with the VF2 standard and ensuring compatibility with ZEN@TERRA remote inflation systems, MICHELIN TRAILXBIB allows users to optimize load, increase productivity, and reduce soil compaction.

MICHELIN TRAILXBIB tires are manufactured at the Valladolid plant in Spain and are designed for trailers, spreaders, or liquid manure tankers. 1 Thanks to significant sidewall flex, MICHELIN ULTRAFLEX tires can be used at low pressure. The increased footprint

better distributes the load, reduces soil compaction, and increases agronomic yield and profitability.2 The VF (Very High Flexion) standard allows 40% more load to be carried than a standard tire at ISO pressure.

MICHELIN TRAILXBIB: an optimum tire for agricultural trailers

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For delivery drivers, tradespeople, and fleet managers, the business is their top priority. They must be able to choose the right tires for their light-duty vehicle according to their uses (urban or regional deliveries, work on construction sites) and in all seasons and weather conditions. To ensure they have a solution that meets the needs of their business, we have expanded our range for light commercial vehicles with the MICHELIN AGILIS 3 summer tire.This tire, produced in the Cholet (France), Cuneo (Italy), and Olsztyn (Poland) plants, offers four main benefits: • a low environmental footprint with 0.2 l/100 km less fuel consumption and

reduced CO₂ emissions equivalent to what around three trees would store• a high level of safety, particularly for braking on wet surfaces, with the A label

for the entire range• excellent longevity • excellent robustness and better protection in urban environments thanks to an

extra layer in the sidewall that shields the tire from scrubbingThe MICHELIN AGILIS 3 tire will be available in Europe in 24 sizes by the end of July 2020.

For the environment and their business

GROUP > MOTORSPORT

From the racetrack to virtual events The health crisis has given rise to new forms of motorsport events: 100% virtual races. This has offered Michelin an original way to build the brand with a new audience while continuing our commitment to more sustainable racing.

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5JULY 2020

Michelin has always viewed motorsports as an extraordinary laboratory for developing, testing, innovating, incubating, and simulating new expertise and solutions in extreme user conditions, to ultimately benefit all drivers. Michelin’s goal is the same on racetracks as it is on roads: design tires that maintain their long-lasting performances.

By participating in virtual racing, the Group is focusing on disciplines that promote sustainable mobility and highlight our tire’s performances. Through simulations, our partners, video game fans who are not generally interested in motor racing, can discover the important role the tire plays.

For Michelin, eSports also provides support to event promoters and their partner manufacturers, who have become more involved in virtual activities since the temporary suspension of real-world motorsports. Porsche is one of the automakers relying heavily on sim racing.*

*Sim racing is all the software used to simulate car racing.

DID YOU KNOW?

Great drivers like Fernando Alonso have already launched their own eSport teams.

“eSports are a reality. They are no longer a fantasy or a game. It is a platform that works for players and professional racers alike. We have been using simulators for several years now to learn circuits and develop cars. Today, we have a fantastic fan base from outside the world of motorsport.” Fernando Alonso, two-time F1 world champion with Michelin

Marc Marquez, Valentino Rossi, Maverick Vinales, and Fabio Quartararo have also exchanged their handlebars for game controllers.While waiting for racing to begin again, most of the world’s topflight championships have either launched or stepped up their own eSport series: MotoGP™ Virtual Race, F1 Virtual Grand Prix, Formula E Race at Home Challenge, IMSA iRacing, Porsche Supercup Virtual Edition, Le Mans eSport Series, etc.

MICHELIN, PARTNER OF THE FIRST LE MANS 24 HOURS VIRTUAL

“Le Mans 24 Hours Virtual is a great example! The gaming platform offers an authentic driving experience that showcases the essential role of tires in terms of performance, longevity, and versatility during the race.” Matthieu Bonardel, Head of Michelin Motorsport.

The first Virtual 24 Hours of Le Mans held on June 13 and 14 was an unprecedented event. 50 teams made up of professional drivers and sim racers took part with virtual prototypes and GTs, all using Michelin tires, for a 24-hour race with varying weather conditions and tire changes as part of a strategy created by the teams just like in the real world. Nick Tandy is now the first driver to win the 24 Hours of Le Mans in both the real-world (2015) and virtually (in the GT category) with Porsche and Michelin.

A live broadcast of the event in 30 countries on the Michelin and Michelin Motorsport Facebook pages captivated millions of fans around the world.

The question of Michelin’s competitiveness remains question, and is mainly limited by our internal complexity. In order to significantly reduce this complexity, we designed the SIMPLY MICHELIN project. The goal is to clearly identify our complexities and figure out how to do things more simply. SIMPLY MICHELIN aims to remove barriers to growth, improve the employee experience, and increase the productivity of our tertiary activities.

GROUP > SIMPLY MICHELIN

6 JULY 2020

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The project was put on hold on March 18 due to the health crisis, but work resumed at the end of May and the schedule was adjusted: the diagnostic phase was completed at the end of June, and the identification of the simplification levers in underway from July to October 2020.

One of SIMPLY MICHELIN’s unique aspects is its co-development approach involving all the Group’s employees. During the diagnostic phase in February-March, an online questionnaire was sent out to 25 000 Group employees and 7,875 of you responded.

During the same period, 1,470 people participated in the SIMPLY MICHELIN Forums held in-person at the tertiary sites in Clermont-Ferrand and Greenville. More than 450 complex work situations were identified and analyzed by a dedicated team. These contributions revealed 4 major themes the program will address: leadership & culture, business processes, technologies & data, and structures & responsibilities.

We recently invited you to complete this diagnostic on a digital platform and give feedback on cross-functional complexity topics and specific areas of the Company identified during the Forums. The significant interest in this phase confirmed that the everyday complexity topics you identified, which the team is already working on, are the right issues to address.

Simplify! The SIMPLY MICHELIN diagnostic confirmed that the Group’s employees are looking for simplification, as expressed through the “Us Tomorrow” and “Moving Forward Together” surveys.

The project will now begin identifying levers of simplification in major areas. The project team is currently defining the process through which the co-construction process will occur.

For more information, visit the SIMPLY intranet page often.

SIMPLY MICHELIN : identifying levers of simplification!

GROUP > MOVIN’ON

Sustainable mobility for allMovin’On, created and inspired by Michelin in 2017, is the world’s top co-innovation ecosystem. It brings together big companies, startups, cities, civil society, NGOs, and international organizations to take on the challenges of sustainable mobility.

“At a time when there is a temptation to retreat, we believe the need for mobility will continue, encouraged by major social changes and because mobility is critical to human evolution.” Florent Menegaux, CEO of Michelin and Movin’On.

In response to the climate crisis and social tensions, mobility must become safer, more sustainable, more efficient, and accessible to everyone. How can we do this?• Develop mobility that doesn’t compromise safety• Incorporate environmental issues into all discussions and identify concrete solutions to extend their life cycles• Accelerate the implementation of technologies to foster transportation that respects the environment, the city, and people• Ensure that mobility serves everyone, particularly those who are the most economically or geographically isolated

Opening up the world to each of us, while protecting it for allMovin’On works year-round to offer concrete solutions and innovations to meet everyone’s mobility needs so we can help move society forward all while protecting the planet:• By implementing diverse and complementary mobility solutions that meet three criteria: efficiency, ethics, and inclusion• By fighting climate change, air pollution, and resource depletion

A closer look at the initiatives and key events taking us from ambition to action

The next Movin’On events• Participation in the “Entretiens Jacques Cartier” - The 2020 Virtual Summit from 2 to 6 November 2020• In Montreal, at McGill University, June 1-3, 2021

7JULY 2020

Movin’On LAB is a Think and Do Tank that promotes ecosystem-based innovation. Throughout the year, this open innovation lab coordinates communities of interest

around specific topics to anticipate and invent the mobility of the future. For example, the Urban Transportation Business Line is currently leading a community of interest with seven other partner companies on the challenges of the electric bus and possible future business models to propose solutions to cities. To learn more: movinon-lab.michelin.com

Movin’On Design ChallengeThis global competition was created in 2001 to honor innovative projects focused on tomorrow’s sustainable mobility. The 2020 theme challenges

designers from all over the world to take inspiration from previous award-winning projects to create a design with added environmental, social, or economic value.

Digital Meetings In response to the health crisis and the cancellation of the 2020 Summit in Montreal, the

Movin’On teams launched the Digital Meetings, attended by more than 5,000 participants in early June. Given this success, the Digital Meetings will now be included in the Movin’On event agenda. Relive the Digital Meetings on movinonconnect.com

Find all the information on: www.movinonconnect.com

@movinonconnect

linkedin.com/company/movin-on-connect

The Movin’On SummitThis annual event brings together members of the Movin’On ecosystem from

all over the world. The Movin’On Summit offers the conditions required for disruption, connection, and action. Michelin has presented our major innovations during this summit, such as the Vision concept in 2017 and the MICHELIN Uptis prototype in 2019.

Movin’On Startup ChallengeThis international challenge launched by Michelin’s Europe Incubator (IPO) teams offers startups the opportunity to present their innovative technologies. This year, the startup challenge final was

held online during the Digital Meetings, with voting from both the jury and participants. Relive the 2020 final on movinonconnect.com

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