Michelin URD 2020 Michelin at a glance A Global Footprint Michelin heritage The Covid-19 Crisis Trends & Issues The All Sustainable Michelin Our Creation Model Four Areas of Growth Tires Mobility Experiences Services & Solutions High-Tech Materials Six Pathways to Success Our Organization Ethics Risk Management 2020 Financial Performance Our Organization Michelin’s governance is a solid, stable process focused on the long-term responsibility of its executives, with a clear separation of management and supervisory powers. THE MICHELIN PARTNERSHIP LIMITED BY SHARES Compagnie Générale des Établissements Michelin, the Group's parent company, is organized as a partnership limited by shares. This form of corporate organization ensures that the deployment of a long-term strategy is fully aligned with shareholder interests. The company is administered and managed by the Managers, who are elected by shareholders at the Annual Meeting for renewable four-year terms. As a General Partner, the Managing Chairman is personally liable for Michelin's debts. The Supervisory Board exercises permanent oversight of Michelin's management and assesses its quality every year on behalf of the shareholders. The Managing Chairman and the Executive Committee at January 1, 2021 The Managers are assisted by a nine-member Executive Committee. Left to right: Jean-Claude Pats Executive Vice President, Personnel / Éric Philippe Vinesse Executive Vice President, Research & Development / Bénédicte de Bonnechose, Executive Vice President, Urban and Long-Distance Transportation and European Regions / Lorraine Frega, Executive Vice President, Distribution, Services & Solutions, Stratégy, Innovation & Partnerships / Florent Menegaux Managing Chairman / Sonia Artinian-Fredou* Executive Vice President High-Tech Materials, H2 Mobility, Symio JV and AddUp / Yves Chapot General Manager and Chief Financial Officer / Scott Clark Executive Vice President, Automotive, Motorsports, Experiences and Americas Regions / Serge Lafon Executive Vice President Specialities and Africa/India/Middle East, China, East Asia & Australia Regions / Adeline Challon-Kemoun, Executive Vice President, Engagement and Brands / Jean-Christophe Guérin Executive Vice President, Manufacturing. *Since July 1, 2021, Maude Portigliatti has served as Executive Vice President, High Tech Materials and will join the Group Executive Committee. She will replace Ms. Sonia Artinian-Fredou, who will leave the Group on July 31, 2021. THE SUPERVISORY BOARD The Supervisory Board has 11 members, including seven independent members, two employee representatives, five women and two non-French people. It met 9 times in 2020, with an attendance rate of 100%. A Corporate Social Responsibility Committee was created, in addition to the Audit Committee and the Compensation and Appointments Committee. All three Committees are chaired by independent members. 11 members 1 senior independent member 2 members representing employees 3 Board Committees 45 % are women* 78 % are independent* 22 % are non-French nationals* * excluding the employee representatives A Customer-Centric Organization Focused on identifying and meeting customer needs, the Group’s organization is supported by an employee empowerment process embraced at every level. 6 Operating Units provide their expertise and support. 10 Regions are responsible for managing customer relationships and increasing sales. 19 Global Business Lines design solutions to meet the expectations of customers with similar characteristics. 1 Lean Corporate Unit comprising departments focused on their strategic missions. THE GROUP MANAGEMENT COMMITTEE It cross-functionally manages transformation, competitiveness and diversity programs and the integration of acquisitions. It also manages the development of the Corporate & Business Services unit and the internal control, quality and risk management processes. In addition, it supports the development of senior high potential employees. It forms a panel of Business Lines and Regions to ensure that its decisions are widely embraced across the organization. Constructive stakeholder dialogue By providing deeper insight into expectations and how they are changing, stakeholder dialogue helps Michelin to make better decisions. Michelin actively encourages and practices such dialogue locally, nationally and globally. At the Group Executive level, a Corporate Stakeholder Committee meets with the Executive Committee for a full day at least once a year.