Financial information at March 31, 2021

With the strong upturn in global demand, which offset major supply chain disruptions and persistent health-related restrictions:

• Passenger car/Light truck and Truck tire markets rose by 9% and 20%, respectively,

• Specialty markets saw a rebound, impelled by the Agricultural, Construction and Two-wheel tire businesses,

• Demand rebounded sharply in China across every market, returning to near-2019 levels.

€5,448 million in first-quarter sales, up a reported 2.3% after a negative 6% currency effect:

• 5% growth in tire volumes with, in particular, consolidation of the Group’s positions in Passenger car/Light truck Replacement markets and gains in the Specialty businesses,

• A 0.3% increase from tire prices, as firm price discipline in response to higher raw materials and logistics costs offset the negative impact of indexation clauses,

• A 0.6% increase from the tire mix, as the sustained shift upmarket in the product mix, with market share gains in MICHELIN-branded 18-inch and larger tires, more than made up for the unfavorable business mix,

• Stable sales in the non-tire businesses, which were adversely impacted by the fall-off in demand in the restaurant and travel guides segments.

Michelin is opening up the capital of Solesis to Altaris Capital Partners to step up its expansion in healthcare markets:

• Demonstrates the Group’s ability to capture the value of its High-Tech Materials businesses,

• The disposal gain added around €130 million[1] to consolidated net income.

[1]Without any impact on segment operating income or guidance