Any investment in shares carries a risk of capital loss. Past performance of the Michelin share is not indicative of future performance. This does not constitute financial investment advice.

This presentation is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, including risk factors, please consult the documents filed in France with Autorité des marchés financiers, also available on our website www.michelin.com