23 AVRIL 2014 Operating

Highlights MICHELIN FIRST QUARTER 2014 01_INVESTMENTS 04_PRODUCTS 09_RACING PARTNERSHIPS INNOVATIONS SERVICES

INVESTMENTS

Michelin in the world

Michelin Canada announces it will reduce the production of small-size tires at its

Pictou County plant in Nova Scotia between now and July 2015

(March 3, 2014) – Michelin is pursuing its All impacted employees will have the possibility of: operations at the Pictou County site and continuing to invest in Nova Scotia. • Transferring to another position at the Pictou County

site or to another Michelin plant in Nova Scotia. Michelin in the world © Michelin Given declining demand for small-size car tires in North America, Michelin announced its plans • Working in the Group’s other two Canadian plants, Michelin, to reduce production at its Pictou County Nova both of which are located in the same province. a global presence: Scotia car and light truck tire plant over the next Europe, North America, 18 months, between now and June 30, 2015. • Taking early retirement. South America, Asia, Africa, India, Middle East Production to continue at Pictou County site Continued investment in Canada Hat Yai plant cuts the ribbon! Michelin has a long history of production Michelin remains the largest private manufacturer in at Pictou Country and will continue to be a Nova Scotia and has invested almost CAD (Canadian (April 2014) – Michelin has offi cially opened its signifi cant manufacturing employer. Dollar) 2 billion in its operations since its arrival in 1969. fi fth facility in Thailand. Located in Hat Yai, in Approximately 500 employees will continue to the Songkla province, it is the fi rst Group rubber work at the Pictou County plant after In the last 8 years, from 2005 to 2013, Michelin composite processing plant, and should make a July 1, 2015. invested CAD 587 million in its Nova Scotian real contribution to improving the performance of manufacturing operations. MICHELIN tires. The reduction of tire manufacturing at Michelin Pictou County will not aff ect Michelin’s other In 2014, Michelin is investing CAD 66.5 million in its “Today, it's both the end of one adventure, which two Canadian tire plants in Bridgewater and three Canadian plants. Michelin thus remains solidly included building and developing a technology, Waterville, Nova Scotia. anchored in Canada. and the beginning of a new venture, the start-up of this plant, which will make a brand new product that will contribute to the performance of Michelin All impacted employees will have the Accounting impact tires. It's the confi rmation of the importance of opportunity to continue working for Michelin Thailand to the Michelin group. We're now fi rmly To fi nance the project, the Michelin Group will book a implanted here, and it's one of our main suppliers provision of CAD 87 million in non-recurring expenses of natural rubber.” Said JEAN-CHRISTOPHE in its fi rst-half 2014 accounts. GUERIN - Director, Materials Product Line.

The ramp-up of the Hat Yai plant should last until the third quarter of 2014. The new site will ultimately employ close to two hundred people.

To fi nd out more: www.michelin.com

20140423_FM_EN WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1 PARTNERSHIPS The CEA, Michelin, Protéus and SDTech join forces to develop uses for scrap tires The Tire Recycling or TREC project, driven by Michelin, is designed to develop two innovative uses for scrap tires

(January 28, 2014) – The two innovative uses for scrap In light of the growth forecasts for the global tire market, tires: demand for raw materials will increase considerably in the coming decades. 1) TREC Regeneration involves regenerating rubber As a result, the deployment of new solutions for using compounds to make new tires, used tires comes at a particularly good time.

2) TREC Alcohol will enable the production of a chemical By reincorporating recycled materials from used tires

intermediate needed to synthesize raw materials used in in new tires on an industrial scale, the technologies tire manufacturing. developed by the TREC project will enhance levels of expertise in France by developing a circular economy in The alcohol derived from used tires will be included in TREC Regeneration & TREC Alcohol © Michelin synergy with existing channels.

the BioButterfly butadiene production project alongside *Under a specific program to encourage projects focused on waste collection, sorting, recycling

biomass alcohol from such sources as sugar, wood and TREC is backed by a €51 million budget extending and re-use. agricultural waste. over 8 years.

TREC covers all stages of research and development France's Agency for the Environment and Energy processes, from the definition of scientific concepts to pilot Management (ADEME) will provide €13.3 million to testing and validation on an industrial demonstrator. Michelin and SDTech as part of the French government €51 million 8 YEARS “Investing in the Future” program.*

To find out more: www.michelin.com

RISK MANAGEMENT Michelin: innovating to

improve risk management Michelin receives IFACI (Internal Audit and Risk Management French Institute) award

Sustainability Yearbook 2014 © RobecoSAM (February 2014) – By merging its audit and risk management functions, Michelin has shifted the focus from internal control audits to a holistic risk management process. SUSTAINABLE DEVELOPMENT

The internal audit teams have been assigned to assess the quality of the risk management systems. Michelin, Today, internal control and risk management have become effective management tools. "Silver Class"!

(March 4, 2014) – Every year, investment specialist RobecoSAM assesses the Michelin Performance and Responsibility commitments, thereby enabling Michelin to be included in the "Dow Jones Sustainability Index" (DJSI) for the past 7 years.

The Sustainability Yearbook recognizes companies that are leaders in their respective industries in terms of their worldwide sustainable development performance.

The Group was awarded the Silver Class distinction,

which is reserved for companies whose score is within 1% to 5% of the sector leader. © Michelin Michelin, a better way forward To find out more: http://yearbook.robecosam.com/

To find out more informations about Michelin group: www.michelin.com WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1 2 MICHELIN CHALLENGE DESIGN 2014 The podium of

the 2014 Michelin Challenge Design The winners of the 2014 Michelin Challenge Design were designated and honored by the jury at the North American International Auto Show (NAIAS) © Michelin / Chris Luchowiec

(January 15, 2014) – They were chosen from the 15 finalists shortlisted from among the 900 original participants from 74 countries in Detroit. BOT Autonomous Cab - Chris Luchowiec On the podium of the 2014 Michelin Challenge Design were Chris Luchowiec from Poland in first place; Chuang Dong, Zhen Qui and Haowen Deng from China on the second step and Takbeom Heogh from South Korea in third. from900 74 countries participants “Michelin Challenge Design provides a window into the future of sustainable mobility as technical innovations, societal needs and consumer demands take us into dramatically different directions,” said Thom Roach, vice president of original equipment marketing for Michelin created the annual Michelin Challenge Design to celebrate, promote, publicize Michelin North and South America. and give visibility to original creative thinking and innovation in vehicle design.

“The scope of change and the speed at which change is taking place makes this an By embracing and supporting design, Michelin aims to establish a closer relationship exciting time for designers and technical innovators. Every year, the number of entrants in with the design community, combining technical innovation with transportation design to the Challenge is impressive, as are the quality and range of designs submitted. create vehicles that consumers want to buy and will enjoy driving. We are deeply grateful to the design leaders who comprise our jury and help us to identify and recognize creative designs from all over the world.”

To find out more: www.michelinchallengedesign.com

HISTORY 2014, the year of the Centennial

1914-1918: Michelin, an innovative force in society

Michelin’s commitment to serving soldiers and their In 1914, the French military had only 120 aircrafts. Aware of the historical importance of this tragic event, families Ever true to their convictions, the Michelin brothers the Michelin brothers also had an original idea for suggested to the French government that they transform commemorating the war. In 1917, they published a (April 2014) – In September 1914, a tire storage depot their workshops to manufacture airplanes. collection of illustrated guides to the battlefields. Totaling several stories high was entirely fitted out as a hospital that around 30 volumes, the collection constituted an would treat more than 3,000 wounded until the war was The first 100 were provided free of charge and the rest encyclopedia of events during the “Great War.” over. sold at cost. In all, nearly 2,000 airplanes were produced in The solidarity between the mobilized personnel and those Clermont-Ferrand between 1915 and 1919, including the In 2014, through its corporate foundation, Michelin is that remained in Clermont-Ferrand was evident in the celebrated Bréguet XIV, nicknamed the “victory plane.” supporting an exhibition of photographs by Michael mail and packages shipped. Thousands of letters were St. Maur Sheil called “Fields of Battle – Lands of exchanged, making it possible to stay in touch and uphold Peace 14-18” showcasing the lands where the Great the soldiers’ morale. To help mothers whose husbands War took place. were on the front, Michelin introduced a system of family The exhibition reflects the desire to keep the collective allowances in 1916. memory alive as a way to preserve the peace. The exhibition is displayed on the fence surrounding the In all, 3,405 workers and other employees would take part Luxembourg Gardens in Paris through August 4, 2014. in the fighting. Nearby, in front of the main building of the French Senate, there is a 16- x 9-meter map designed by Michelin Travel Original innovations Partner mapmakers.

Always in the forefront of technical innovation, Michelin The largest map ever made by Michelin, it shows the advocated the creation of an air force with 5,000 airplanes main battlefronts and the countries impacted by World as early as 1912. Michelin and the World War I © MIchelin War I.

To find out more informations about Michelin history: www.michelin.com WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1 3 CAR TIRES The new MICHELIN Alpin 5

The MICHELIN Alpin 5 is the fifth generation of winter tire designed for European countries in which winter roads are “black”, meaning not covered with snow and ice for several months during the season

(February 4, 2014) – Michelin presented its new winter tire This new process is called “Innovative Tread for cars. The new MICHELIN Alpin 5 delivering excellent Compound Technology”. performance on all surfaces, from October to April*. It is the MICHELIN Total Performance strategy. The new rubber is based on Michelin’s fourth-generation “Helio Compound technology”. The new MICHELIN Alpin 5 integrates 2 highly advanced technologies: It contains sunflower oil that allows the tire to function

effectively at low temperatures. 1) The new tread design, namely the patterned blocks

that comprise the part of the tire in contact with the road. * On average, compared to its predecessor, the MICHELIN Alpin 5 (205/55 R16 91 H) tires brakes

The new MICHELIN Alpin 5 tire © Michelin Compared with its predecessor, the tread band on the 5% shorter on wet pavement and 3% shorter on snowy roads. Outside tests commissioned by

MICHELIN Alpin 5 provides: Michelin, conducted by TÜV Süd and IDIADA between November 2013 and January 2014.

• A “rack-and-pinion” effect that grips the snow and 2) The composition of the rubber compound: to enhances resistance to aquaplaning. ensure grip on cold, wet roads, the rubber compound must contain a high proportion of silica. • A “claw” effect for better traction on snow. Michelin has for the first time added functional elastomers to the tread compound of a winter tire. Brakes 5% shorter on wet pavement, • A “footprint” effect for more precise steering. 3% shorter on snowy roads

To find out more: www.michelin.com

CAR TIRES MICHELIN® Premier® A/S, a self-regenerating tire

A significant technological advance ® ® MICHELIN PREMIER A/S : always safe, even when worn

www.michelinclassic.com © Michelin (January 15, 2014) – At the North American International Auto Show in Detroit, the Group debuted the MICHELIN® Premier® A/S tire, which features unique EverGripTM WEBSITE technology.

Even when worn, the tire has a shorter braking distance on wet roads than new tires A website for from most competing brands, thanks to hidden grooves that appear as the tire wears, classic tires expanding rain grooves that get wider over time, and a unique high-traction rubber (February 1, 2014) – MICHELIN is set to take the wraps off compound that improves grip on wet surfaces. an invaluable reference base for fans of classic cars and As a result, the tire provides motorists with a industry professionals that will be unique in Europe. real improvement in safety performance. In launching www.michelinclassic.com, the French This new product is fully in line with the manufacturer is not merely inaugurating a conventional MICHELIN Total Performance strategy. website to provide information on tires for historic vehicles.

The MICHELIN® Premier® A/S is produced Rather, the company is introducing an end-to-end service, and sold in North America, a market with its from MICHELIN expert advice to online sales. A database of own unique driving and weather conditions. more than 2,400 vehicles, a dedicated hotline,

TM Given the strong potential of EverGrip , 24/7 availability and online sales, all in one. Michelin may well use this technology to enhance the performance of products sold in www.michelinclassic.com is available in English, German © Michelin MICHELIN® Premier® A/S other markets. and French.

To find out more: www.michelin.com WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1 4 TRUCK TIRES The MICHELIN X® LINETM Energy™ 80 and 65 series tires More performance in the same tire!. The new lineup of MICHELIN X® LINETM Energy™ 80 and 65 series tires provide truckers with enhanced performance by integrating the full range of Michelin’s technology

(March 21, 2014) – This new lineup provide performance This new tire range owes its efficiency to the full range of by integrating the full range of Michelin’s technology: the Michelin Group’s expertise and to an in-depth study of the road conditions faced by long-haul truckers. • Enhanced safety and mobility: Three Peak Snow Flake Mountain (3PMSF) certification. The lineup delivers its full potential when used intensively • Greater savings: a B ranking (in the European tire (more than 110,000 km a year) on trucks that make few labeling system) in rolling resistance for the 315/80 R 22.5 stops (fewer than three a day) and are driven at high

tire and an A ranking for the 385/65 R 22.5 tire. speeds (over 70 km/h). • Superior environmental performance: the quietest ® TM tire in its segment and manufactured in Michelin plants in MICHELIN X LINE Energy™ Séries 80 & 65 : Europe. All of which have been certified ISO 14001, and in More performance in the same tire © Michelin full compliance with the strictest environmental standards. • More profitable: In line with its “multi-life” strategy the MICHELIN X® LINETM Energy™ can be retreaded and regrooved. Available with MICHELIN Remix technology The new range of MICHELIN X® LINETM Energy™ in 2015, the range will deliver the performance of a new 80 and 65 series integrate the full range of innovative tire without requiring a new casing and will enable further MICHELIN Durable Technologies featured in the initial fuel-savings once it is regrooved. 70 and 55 series tires in the tractor-trailer rig offering. The69 quietest db tire in its segment (315/80 R 22.5)

To find out more: www.michelin.com

TRUCK TIRES Truck Product Line developing its intermediate brands

To strengthen its growth dynamic, Michelin is expanding the geographical footprint of its intermediate brands (Tier 2) Michelin launches Truck Care Network to offer consistent quality fleet maintenance through a network of service providers © Michelin (April 2014) – Building on its strong sales in Europe for many years, the Kormoran brand was deployed in 2013 in Colombia and the Africa-Middle East region (particularly in South MICHELIN AMERICAS TRUCK TIRES Africa, Algeria, Saudi Arabia, Morocco and Israel) to serve customers looking for tires that ® meet their specific needs (especially safety and peace of mind) at a more affordable price. MICHELIN For years, the Truck Product Line has successfully marketed its Tier-2 BFGoodrich TRUCK CARE™ lineup in North America. (April 4, 2014) – Following the Michelin Group Truck Division strategy These brands offer the Group access to new to extend its fleet service offerings, Michelin Americas Truck Tires market segments, which will provide sources launched MICHELIN® TRUCK CARE™. of growth in addition to those already being A national network of mechanical service providers with dedicated tapped in the premium segment. technicians, along with standardized services that are audited by Michelin.

The new service provides fleet managers the tools to expertly manage their maintenance, improve uptime and control costs. Whether fleets need help when equipment is away from their terminal or to supplement current workloads at home, MICHELIN® TRUCK CARE™ is the right

solution. Over 100 MICHELIN® TRUCK CARE™ service locations will be available in the U.S. by the end of the year. © Michelin Michelin, BFGoodrich, Kormoran To find out more, please visit michelintruck.com/truckcare.

To find out more: www.michelin.com WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1 5 SPECIALTY TIRES MICHELIN Earthmover

CONEXPO-CON/AGG The largest international trade fair for the infrastructure/ construction industry, with 150,000 visitors © Michelin

EARTHMOVER TIRES ON DISPLAY IN LAS VEGAS Michelin at CONEXPO-CON/AGG in Las Vegas (March 4-8,2014) – Michelin took part in CONEXPO-CON/AGG, the largest international trade fair for the infrastructure/construction industry, with 150,000 visitors and 200,000 sq.m of exhibition space

The show provided an opportunity to present the Group’s latest products for articulated and rigid-frame dump trucks and cranes as well as its services for users and dealers, led by the new Michelin OperTrak, Tire Monitoring System (TMS) and the Michelin Academy, which provides MICHELIN EARTHMOVER E-LEARNING ONLINE TRAINING online and classroom training in the correct use of Earthmover tires. TOOL RELEASED

(February 15, 2014) – The Product Line has launched a new online training tool for earthmover tires. Aimed at customers and Michelin teams, it contains 26 training modules proposed in four programs dealing with mounting, dismounting, repair and retread operations.

User-friendly and ergonomic, the Michelin Earthmover e-learning platform is accessible 24/7 worldwide.

To find out more: www.michelinearthmover.com and www.michelin.com

SPECIALTY TIRES

Agriculture conquering new markets! The aim of the Agricultural Product Line is simple: to convince emerging countries of the benefits of radialization

Michelin – the global leader in radial agricultural tires – has decided to set up real-life tests in China, Russia and Brazil

(April 3, 2014) – To achieve this, Michelin – the What is extremely important to the customer is Validated by an independent certification body, global leader in radial agricultural tires – has the impact that the tire will have on their soil. the results of these comparative tests speak for decided to set up real-life tests in China, Russia The Ladoux teams have developed what we call themselves. and Brazil, three markets with high growth the stratified ditch, which takes almost a week to potential. build and which helps the customer to see the exact effects of the tractor's passage on the soil. RADIAL TIRES CAN SAVE UP TO 30% It intends to demonstrate the added value So the tire's footprint in the field is both extremely OF FUEL COMPARED TO BIAS TIRES of radial tires as well as showcase Michelin important and extremely eloquent.” innovations, such as Ultraflex technology. AND OVERALL PRODUCTIVITY According to Pierre Caghassi, Commercial IS BOOSTED BY 3% BY USING Director Export, MICHELIN ULTRAFLEX TIRES COMPARED TO BIAS TIRES “The tests we've set up are fuel economy tests, where we have two tractors following each other. Particularly impressive results, whose impact on the Product Line's sales is already visible. We use a different tire technology on each tractor, and the results of each passage quickly show the customer – visually and to the touch

– that the Michelin tire is better in terms of fuel economy.

Effects of the tractor's passage on the soil © Michelin

To find out more: http://michelin-pneu-agricole and et www.michelin.com WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1 6 SPECIALTY TIRES The new MICHELIN Pilot Road 4 tire The new MICHELIN Pilot Road 4 lasts 20% longer and brakes 17% shorter on wet roads than its closest competitor © ERIC MALHERBE - LIBRE LATITUDE / MICHELIN

(February 2014) – The Two-Wheel Product Line is continuing to deploy a winning strategy based on the launch of dynamic products that enhance user safety and enjoyment. MICHELIN Pilot Road 4

The new MICHELIN Pilot Road 4 lasts 20% longer and brakes 17% shorter on wet roads than its closest competitor, while delivering even better grip at low temperatures and on slippery surfaces. TheLasts MICHELIN Pilot20% Road 4 tire, longer AN IMPRESSIVE MIX OF INNOVATIONS AND TECHNOLOGIES the latest Two-Wheel Product Line • MICHELIN Dual Angle Technology (2AT), a patented technology that features a Thanks to MICHELIN Total Performance, Michelin can offer more technologies and revolutionary architecture combining the advantages of cross-ply and radial tires, for big more performance in the same tire, including: GT-type motorcycles.

• MICHELIN 2CT (Dual Compound Technology) The MICHELIN Pilot Road 4 endorsed by BMW! The MICHELIN Pilot Road 4 tire’s excellent performance has also proved irresistible to • Sipes that proved their worth on the MICHELIN Pilot Road 3 (MICHELIN X-Sipe motorcycle manufacturers, including BMW, which has certified the GT version for its new Technology). Michelin is still the only tiremaker to offer this feature on a motorcycle tire. R1200RT touring bike. Available in standard, GT and trail versions, the Michelin Pilot Road 4 is the latest • The MICHELIN XST+, which enables front-tire sipes to last significantly longer. addition to the lineup of motorcycle tires

To find out more: http://moto.michelin.fr and http://velo.michelin.fr

SPECIALTY TIRES Aircraft tires: a new contract with Michelin awarded Boeing 737 MAX 7 & 8 Original Equipment tire supply contract

(March 10, 2014) – Michelin has been selected The tires will also be certified for sale to airline Proven in service, the NZG radial technology as an original equipment tire supplier for the operators in the aftermarket. promises the following competitive advantages to Boeing 737 MAX, the new version of the world’s operators of the Boeing 737 MAX 7 and 8: top selling commercial airplane. Current combined orders for the 737 MAX 7 and 8 stand at more than 1,300 airplanes. • Up to 50% more FOD (Foreign Object Michelin will equip the 737 MAX 7 and 737 MAX Damage) resistance through NZG patented 8 with its industry leading radial aircraft tires with technology. NZG (Near Zero Growth) technology. • More than 20% reduction in weight compared Boeing Commercial Airplanes confirmed the with a Bias cross-ply tire, which translates into selection of Michelin as the production tire significant fuel savings for airlines. supplier for the two 737 MAX family members, which will be equipped with new engines • Up to a 100% increase in the number of and other enhancements. The 737 MAX 8 is landings compared with a Bias cross-ply tire scheduled to enter service in 2017 and the 737 which means less maintenance downtime for MAX 7 will follow in 2019. aircraft operators.

Under this contract, Michelin will develop and certify its latest generation radial tires with NZG

technology for exclusive supply to 737 MAX final assembly.

MICHELIN NZG technology © Michelin

To find out more: www.michelin.com WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1 7 MICHELIN TRAVEL PARTNER

The new MICHELIN guides 2014

The MICHELIN guide Nordic Countries 2014, "Le Chemin des Dames" and the Michelin Green Guide to the D-Day Beaches and the Battle of Normandy

THE NEW MICHELIN GUIDE NORDIC World War I battlefields. It indicates 150 memorials and COUNTRIES 2014 contains historical and tourist information, as well as a list of useful addresses. (March 12, 2014) – With the release of the MICHELIN The 31 battlefield guides that were published between guide Main Cities of Europe 2014, Michelin also 1917 and 1921 have been digitized and enhanced with presented the new Nordic Countries 2014 guide. It video content. They are now on sale as e-books in the features excerpts from the MICHELIN guide Main Cities digital stores.

of Europe 2014 focused on five cities – Copenhagen, The Michelin Green Guide to the D-Day Beaches Helsinki, Oslo, Stockholm and Goteborg – with a and the Battle of Normandy was released today. Its selection of 204 restaurants and 108 hotels. introduction was written by a historian and the content MICHELIN guides © Michelin includes excerpts from MICHELIN guides published The layout is particularly innovative, with two photos on just after World War II, as well as photographs of historic the cover and two restaurants per page illustrated by two THE GROWING POPULARITY OF interest. photos each. MEMORIAL TOURISM (March 14, 2014) – In 2014, the centennial of World War I This guide has been available since April 21 in both B2B and the 70th anniversary of the D-Day landings will both be and B2C channels. commemorated in France. Michelin Travel Partner has released "Le Chemin des people20 visitmillion the former battlefields Dames", the latest addition to its collection of guides to in remembrance

To find out more: www.michelin.com

MICHELIN TRAVEL PARTNER Bibendum hooks up

with R’Link

R’Link is an integrated, online multimedia system designed specifically for automobile environments by the Michelin Travel Partner automotive teams The New MICHELIN foot pump © Michelin (February 2014) – It currently equips the new Renault Clio Berline/Estate/R.S., ZOE, Captur and Megane Scenic. MICHELIN LIFESTYLE LIMITED

Michelin and Renault are offering three new useful community applications: The New

• MICHELIN guide restaurants. MICHELIN foot

• MICHELIN guide hotels. (January 2014) – New MICHELIN foot pump wins first award The new MICHELIN digital double barrel foot-pump was • MICHELIN Travel. recently named as one of Auto Express Magazine’s top 20 car products of 2013. These are all packed with useful information on the tourist sites nearby or at the destination IN REFERENCE TO THE 20 WINNERS, THE with photos, descriptions, prices, Michelin UK PUBLICATION SAID, “THESE ARE THE ratings, opening hours, etc. PRODUCTS WE JUST CAN’T LIVE WITHOUT”.

WITH THESE APPS, THE USER The double barrel foot pump is part of a range of new ALWAYS HAS THE INFORMATION inflation products that were launched in the UK in 2013. Auto

NEEDED TO MAKE THE RIGHT Express commented that the MICHELIN foot pump is “really CHOICE AND ENJOY A PLEASANT accurate and easy to use” and it “stays incredibly stable JOURNEY under foot”. © Michelin R-Link

To find out more: www.michelin.com WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1 8 RACING FINANCIAL AGENDA MICHELIN Total Performance Award The 2014 Le Mans 24 Hours will see Michelin introduce the MICHELIN Total Performance Award €1 M to speed up innovation in favor of sustainable

(February 17, 2014) – The award coincides with the turn This sort of award is something of a tradition at taken by the discipline’s technical regulations from this MICHELIN. As long ago as 1908, the company proposed © Michelin year. a prize of 100,000 francs to the first pilot who succeeded in The grant will be awarded to the first team that succeeds taking off from Paris and landing at the summit of the Puy in fulfilling five criteria relating to performance, longevity and de Dôme mountain in France’s Auvergne region. energy efficiency. May 16, 2014 The prize-money – equivalent to €400,000 in today’s 2014 Annual General Meeting of WHEN THESE FIVE CONDITIONS ARE money – was won three years later by the aviator Eugène Shareholders MET, €1 MILLION WILL BE PLOUGHED Renaux. INTO THE FINANCING OF RESEARCH INTO SUSTAINABLE MOBILITY BY AN Today’s MICHELIN Total Performance Award is a May 20, 2014 INDEPENDENT ACADEMIC INSTITUTE further sign of the company’s commitment to sustainable Ex dividend date mobility, which also takes the form of ongoing research The five criteria that will need to be met to be able to claim and a history of initiatives such as the Michelin Challenge the MICHELIN Total Performance Award consequently Bibendum which will this year be organized in China. May 22, 2014 focus on these notions: victory, performance over a single Record date lap, new distance record (since 2011, it has stood at 5,410 km), improved fuel efficiency and the use of fewer tires. May 23, 2014 Perhaps the all five criteria won’t be met this year. If that is Payment date the case, the MICHELIN Total Performance Award will be up for grabs again in 2015 and, if necessary, in the years after that until it is won. July 29, 2014 First half 2014 results The MICHELIN Total Performance Award will go to (before market hours) the most efficient competitor, irrespective of the tire brand

they use.

October 22, 2014 Quaterly financial information at September

MICHELIN Total Performance Award © Michelin 30, 2014 (after market hours)

RACING November 10, 2014 Michelin Runners Monopolise Investor Day in Shenyang (China) th February 10, 2015 36 Dakar Podiums 2014 Annual results A year after making its return to the world’s most popular and gruelling cross-country rally,

MICHELIN dominated the 36th running of the celebrated Dakar (January 18, 2014) – Partners of the French firm The MICHELIN LATITUDE C (Cars), MICHELIN claimed one-two-three finishes in the event’s DESERT Race and Bib Mousse (Bikes) Tire Maket Data Car, Bike and Truck classes to showcase both and MICHELIN XZL+ (Trucks) allowed the the qualities of their tires and the expertise of company’s partner teams to control this year’s Generally on line between the 15 and the 20 MICHELIN’s engineers. rally which was considered to have been one of of the next month the toughest ever seen since the competition first moved to South America.

© Michelin 36th Dakar Rally

To find out more: www.michelin.com

Operating Highlights - First Quarter 2014

Investor Relations Department WorldReginfo - 2b12273e-80ed-44d7-9fb8-89de2ec48fb1