23, Place des Carmes-Déchaux - 63000 CLERMONT-FERRAND Information about securities repurchasing programRegulated informationIssuer social denomination: Michelin – LEI 549300SOSI58J6VIW052 Types of securities: ordinary shares – Code ISIN FR001400AJ45Date : March 26th, 2026 Issuer NameIssuer codeTransactiondateISIN CodeDaily total volume (in number of actions)Daily weighted average price of shares acquiredPlatformCompagnie Générale des Etablissements Michelin549300SOSI58J6VIW05226.03.2026<td style="width:103. ...

Group 1 - The company, Michelin, has initiated a securities repurchasing program, acquiring a total of 223,572 ordinary shares at an average price of €29.2724 per share on March 19, 2026 [1][2] - The transactions were conducted over-the-counter, indicating a direct purchase rather than through a public exchange [1] - The repurchase program is part of Michelin's strategy to manage its capital structure and enhance shareholder value [1]

Group 1 - The company, Michelin, has announced a securities repurchasing program involving the acquisition of ordinary shares [1] - On March 12, 2026, Michelin repurchased a total of 172,403 shares at an average price of €30.3684 per share [1] - The transactions were conducted over-the-counter, indicating a direct purchase rather than through a public exchange [1] Group 2 - The repurchase program is part of Michelin's strategy to manage its capital structure and enhance shareholder value [2] - The shares were acquired through multiple financial institutions, including NATIXIS, BNP Paribas, and Société Générale [1] - The ISIN code for the shares involved in the repurchase is FR001400AJ45, which identifies the specific securities being traded [1]

Core Insights - MoneyLion has launched new identity protection services for its members, enhancing its platform from cash flow management to financial protection [1][3] - The identity protection services are powered by LifeLock and integrated directly into the MoneyLion app, providing a seamless user experience [2][4] Group 1: Identity Protection Features - The new offering allows MoneyLion members to easily activate identity theft protection within the app using a single unified login [3] - Members can utilize the in-app Scam Analyzer to detect scams in real time by verifying suspicious communications without leaving the app [7] - Continuous monitoring and support are provided, including alerts for account takeovers, monitoring of personally identifiable information, and reimbursement for stolen funds [7] Group 2: Market Context and Statistics - Approximately 1 in 4 Americans are victims of identity theft, with average losses exceeding $7,500 [3] - MoneyLion aims to protect its members' financial progress by addressing the risks associated with scams and identity theft [3]

Core Viewpoint - The Michelin Group is restructuring its reporting segments by creating a new segment for Polymer Composite Solutions, previously included in RS3, and renaming existing segments to enhance clarity in financial reporting [1]. Segment Reporting Summary New Segment Structure - The new segmentation includes four reporting segments: Consumer, Transportation, Specialties, and Polymer Composite Solutions, replacing the previous three segments [1]. Financial Performance by Segment - **Consumer Segment**: - Q1 2025 Sales: 3,559 million - H1 2025 Sales: 7,111 million - 9M 2025 Sales: 10,504 million - FY 2025 Sales: 14,306 million - FY 2025 SOI: 1,677 million, SOI %: 11.7% [2] - **Transportation Segment**: - Q1 2025 Sales: 1,529 million - H1 2025 Sales: 3,007 million - 9M 2025 Sales: 4,510 million - FY 2025 Sales: 6,023 million - FY 2025 SOI: 280 million, SOI %: 4.7% [2] - **Specialties Segment**: - Q1 2025 Sales: 1,117 million - H1 2025 Sales: 2,269 million - 9M 2025 Sales: 3,318 million - FY 2025 Sales: 4,418 million - FY 2025 SOI: 577 million, SOI %: 13.1% [2] - **Polymer Composite Solutions Segment**: - Q1 2025 Sales: 310 million - H1 2025 Sales: 641 million - 9M 2025 Sales: 942 million - FY 2025 Sales: 1,245 million - FY 2025 SOI: 186 million, SOI %: 14.9% [2] Group Financial Overview - **Total Group Performance**: - Q1 2025 Sales: 6,515 million - H1 2025 Sales: 13,028 million - 9M 2025 Sales: 19,275 million - FY 2025 Sales: 25,992 million - FY 2025 SOI: 2,719 million, SOI %: 10.5% [2][4]

Core Insights - The inaugural MICHELIN Guide restaurant celebration in Saudi Arabia showcases the country's vibrant and evolving culinary scene, featuring 51 selected restaurants, including 11 recognized for exceptional value with the Bib Gourmand designation and 40 listed as selected restaurants [1][6]. Group 1: Event Highlights - The celebration marked a significant moment as the MICHELIN Guide revealed its list through a dedicated website, presenting the information in three narrative chapters that capture the essence of Saudi hospitality, women, and bread [1]. - The award ceremony, held on December 15, included the presentation of official MICHELIN plaques to each restaurant, symbolizing excellence and allowing them to proudly display their honors [2]. Group 2: Special Awards - The Young Chef Award was given to Elia Kaady from Maiz in Riyadh, recognizing his culinary journey and contributions to the region's dining scene [3]. - Il Baretto in Riyadh received the Exceptional Mocktail Award for its innovative non-alcoholic cocktails, showcasing creativity and quality under the leadership of bar manager Santiago Latorre [3]. - Yaza in Jeddah was awarded the Service Award for providing an outstanding dining experience characterized by warm hospitality and knowledgeable staff [4]. Group 3: Restaurant Overview - A total of 51 restaurants were included in the 2026 MICHELIN Guide, with 11 receiving the Bib Gourmand recommendation and 40 recognized as selected restaurants [6]. - The list includes notable restaurants such as Em Sherif Café, Fi Glbak, and KAYZŌ, all of which received the Bib Gourmand designation [9][10].

Core Insights - The MICHELIN Guide Saudi Arabia 2026 features a total of 51 restaurants, highlighting the country's evolving culinary landscape [1][13][20] - The inaugural MICHELIN Guide Restaurant Celebration showcased 11 restaurants awarded the Bib Gourmand distinction for exceptional cuisine at great value, alongside 40 establishments recognized in the Selected category [1][13] Restaurant Selection - The selection includes notable restaurants such as Em Sherif Café, Fi Glbak, and KAYZŌ, all of which received the Bib Gourmand distinction [10][14] - A detailed list of selected restaurants includes various establishments in Riyadh, Jeddah, and AlUla, with specific mentions of their distinctions [15] Special Awards - The MICHELIN Guide also presented Special Awards, including the Young Chef Award to Chef Elia Kaady from Maiz, recognizing his culinary journey and talent [6] - Il Baretto in Riyadh received the Exceptional Mocktail Award for its innovative non-alcoholic beverage offerings [7] - Yaza in Jeddah was honored with the Service Award for its exceptional hospitality and dining experience [8] Ceremony and Presentation - The announcement of the restaurant selections was uniquely staged through a dedicated website, emphasizing themes of hospitality, women, and breads in Saudi Arabia [2] - The official plaque distribution ceremony marked a significant moment for the awarded restaurants, allowing them to display their achievements [3]

Financial Performance - The company reported consolidated sales of €25.99 billion in 2025, a decline of 4.4% from €27.19 billion in 2024, with a 1.4% decrease at constant exchange rates [49][88] - Segment operating income was €2.72 billion, representing 10.5% of sales, down from €3.38 billion and 12.4% in 2024 [49][90] - Free cash flow before M&A amounted to €2.1 billion, reflecting strong operational management [9][52] Segment Analysis - The Automotive & Two-wheel segment had an operating margin of 11.7%, impacted by lower sales volumes in Original Equipment, although the sales mix improved with 68% of MICHELIN-brand tire sales being 18-inch and larger [3][56] - The Road Transportation segment's operating margin narrowed to 4.7%, primarily due to weak Original Equipment sales in North America, which saw a 20% market contraction [4][62] - The Specialties segment delivered an operating margin of 13.5%, with growth in Mining and Aircraft tires offsetting declines in Agricultural markets [5][64] Market Trends - Tire sales volumes decreased by 4.7%, with over 80% of the decline coming from Original Equipment markets, particularly for Truck and Agricultural tires in North America [8][50] - The Replacement segment saw slight growth in MICHELIN-brand tire sales year-on-year, while other brands faced challenges due to low-priced tire imports [8][61] - The non-tire businesses, including Michelin Connected Fleet and Polymer Composite Solutions, positively contributed to sales and operating income [8][49] Strategic Initiatives - The company is committed to its Michelin in Motion 2030 strategy, focusing on adapting industrial capacities and accelerating product plans [6][77] - A share buyback program of up to €2 billion is planned for 2026-2028, reflecting confidence in cash flow generation [11] - The company aims for growth in segment operating income in 2026 compared to 2025, targeting over €1.6 billion in free cash flow before M&A [11][10] Environmental and Social Governance - The company received high scores for its ESG performance, with a gold medal status from EcoVadis and a low-risk rating from Sustainalytics [74][76] - The Group's CO2 emissions were reduced by 48% compared to 2019, demonstrating progress towards carbon neutrality [96] - The percentage of renewable and recycled materials used in tires reached 32%, with a target of 40% by 2030 [99]

Core Insights - Michelin is acquiring Flexitallic to enhance its position in the sealing segment and accelerate growth in Polymer Composite Solutions [2][6] - The acquisition aligns with Michelin's "Michelin in Motion 2030" strategy, focusing on high value-added markets and innovation [2][6] Company Overview - Flexitallic, based in Houston, Texas, is a global leader in sealing solutions, providing high-performance gaskets primarily for the energy and chemical sectors [3] - The company operates 17 facilities worldwide and employs approximately 1,200 people, generating sales of around 220 million USD in 2025 [4] Strategic Fit - The acquisition is expected to broaden Michelin's sealing portfolio and market reach, particularly in the aftermarket segment [4] - Both companies share a commitment to innovation and high-quality products, creating potential synergies for future growth [2][4] Financial Details - The transaction will be financed through available cash, with the amount undisclosed, and is expected to close in the first half of 2026, pending customary adjustments and merger control clearance [4][6]

Core Insights - Michelin has successfully completed the acquisition of Cooley Group, establishing a global leader in industrial coated fabrics [1][5] - The acquisition aligns with Michelin's strategic goals, emphasizing innovation and high-quality products while enhancing geographic reach [5] Company Overview - Cooley Group, celebrating its 100th anniversary in 2026, is headquartered in Rhode Island, USA, and is recognized for its expertise in high-performance polymer coated fabrics [2] - The company is vertically integrated, with capabilities in weaving, knitting, and polymer extrusion [2] - Cooley Group employs 300 people and operates primarily in North America, with four factories (three in the USA and one in Canada) [3] - In 2025, Cooley Group reported revenue of $168 million [3] Strategic Fit - The acquisition is considered a good strategic fit as both Michelin and Cooley Group share a commitment to innovation and high-quality products [5] - The transaction was financed through available cash, which helps preserve Michelin's strong financial position [5]