Clermont-Ferrand, February 11, 2026 – 5:45pm COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN Michelin delivered segment operating income of €2.9 billion in 2025, at constant exchange rates.The Group generated high free cash flow before M&A of €2.1 billion and strengthened its financial position. Group sales and segment operating income were weighed down by lower business volumes and the stronger euro, although these effects were partly offset by a better sales mix. Sales totaled €26.0 billion, down 1.4% at ...

Clermont-Ferrand, February 3rd, 2026 COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN Michelin to acquire Flexitallic, accelerating growth in Polymer Composite Solutions Michelin announces the acquisition of Flexitallic to develop its leadership in the Sealing segment.Polymer Composite Solutions accelerates growth, will soon become a specific reporting segment in Group’s financial communication.Deal fully financed in cash, financial strength intact; closing expected in H1 2026. In line with its “Michelin in ...

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]

Core Insights - Michelin Group's preliminary financial figures for 2025 indicate a Free Cash Flow before M&A of €2.1 billion, surpassing the previously provided range of €1.5 billion to €1.8 billion [2] - The outperformance in Free Cash Flow is attributed to disciplined capital expenditure (Capex) and effective management of working capital, including inventory, accounts payable, and accounts receivable [2] - The Group confirms its Segment Operating Income for 2025 at constant exchange rates will remain within the range of €2.6 billion to €3.0 billion, as previously stated [2] Financial Performance - Free Cash Flow for 2025 is reported at €2.1 billion, exceeding the forecast range [2] - Segment Operating Income is confirmed to be between €2.6 billion and €3.0 billion [2] Future Reporting - The audited results for 2025 are scheduled to be released on February 11, 2026, after market close [3]

Core Viewpoint - Michelin has appointed Bénédicte de Bonnechose as Chief Financial Officer, effective June 1, 2026, succeeding Yves Chapot [1]. Group 1: Appointment Details - Bénédicte de Bonnechose will take over as CFO of the Michelin Group on June 1, 2026 [1]. - She has been a member of the Michelin Executive Committee since January 1, 2021, overseeing Urban and Long-Distance Transportation Business lines and the European region [2]. - Prior to her current role, she served as Deputy Group Chief Financial Officer since April 2019 [2]. Group 2: Professional Background - Bénédicte de Bonnechose has over 25 years of experience within the Lafarge Group, holding various financial and operational leadership positions [3]. - She was President of LafargeHolcim France and Belgium from 2015 to 2018 [3]. - Before joining Michelin, she worked for four years at Deloitte in the Industrial and Retail sectors [3].

Group 1 - Mr. Florent Menegaux's term as Managing General Partner of Michelin is renewed for four years, starting after the next Shareholders Meeting [1] - The Supervisory Board, chaired by Mrs. Barbara Dalibard, unanimously agreed to the renewal of Mr. Menegaux's term on January 12, 2026 [1] - SAGES has decided to propose Mr. Philippe Jacquin as General Manager, following Mr. Yves Chapot's wish not to have his term renewed [2] Group 2 - The resolution for Mr. Philippe Jacquin's nomination will be submitted at the next Shareholders Meeting scheduled for May 22, 2026 [2] - SAGES and the Supervisory Board expressed gratitude to Mr. Yves Chapot for his contributions during his two terms [2]

Core Insights - Michelin is pursuing two acquisitions, Cooley Group and Tex Tech Industries, to enhance its Polymer Composite Solutions business as part of its "Michelin in Motion 2030" strategy [2][8] - The acquisitions are expected to increase Michelin's revenue from Polymer Composite Solutions by approximately 20%, equating to around 280 million USD [5][8] - Both transactions are anticipated to close in the first half of 2026, pending regulatory approvals, and will be financed entirely in cash [5][8] Company Details - Cooley Group, celebrating its 100th anniversary in 2026, specializes in high-performance polymer coated fabrics and is vertically integrated with capabilities in weaving, knitting, and polymer extrusion [3] - Tex Tech Industries, founded in 1904, is known for its specialty textiles and coatings, serving demanding applications such as Thermal Protection Systems for space vehicles and fire-resistant materials for aircraft [4] Market Position - Michelin is already a leader in coated fabrics in Europe with established brands like Orca, and these acquisitions will significantly accelerate its market expansion [5][8] - The Polymer Composite Solutions segment is becoming increasingly significant within Michelin's overall business, prompting plans to create a dedicated reporting segment starting in 2026 [6]

Core Viewpoint - Compagnie Générale des Établissements Michelin has announced the cancellation of 22,919,400 treasury shares, which represents 3.23% of the total shares outstanding, effective December 30, 2025 [2]. Group 1: Capital Reduction Details - The decision for the capital reduction was made by the Managing Chairman on December 19, 2025, and was approved in the Shareholders Meeting on May 16, 2025 [2]. - The effective date for the capital reduction is confirmed as December 30, 2025, as per the Euronext notice dated December 24, 2025 [2].

Group 1 - The issuer, Michelin, has conducted a securities repurchasing program involving ordinary shares with ISIN code FR001400AJ45 [1] - On December 23, 2025, Michelin acquired a total of 890,932 shares at a price of €28.0605 per share through the over-the-counter platform [1] - Additionally, Michelin repurchased another 356,373 shares at the same price of €28.0605 per share on the same date [1] Group 2 - The transactions were executed by different platforms, including NATIXIS and BNP PARIBAS, indicating a diversified approach to share repurchase [1] - The total volume of shares repurchased on that date reflects Michelin's commitment to enhancing shareholder value through buybacks [1]

Core Points - Michelin has disclosed a securities repurchasing program, indicating its strategy to buy back shares to potentially enhance shareholder value [1][2] - The company executed a transaction on December 19, 2025, acquiring a total of 354,772 ordinary shares at an average price of 28.1871 euros per share [1] - The repurchase was conducted over-the-counter, reflecting Michelin's ongoing commitment to managing its capital structure effectively [1] Summary by Category Company Information - Issuer Name: Michelin - Issuer Code: 549300SOSI58J6VIW052 - ISIN Code: FR001400AJ45 - Date of Transaction: December 19, 2025 [1] Transaction Details - Total Volume of Shares Acquired: 354,772 - Average Price per Share: 28.1871 euros - Transaction Platform: Over-the-counter [1] Financial Implications - The share repurchase program is part of Michelin's broader strategy to optimize its capital allocation and return value to shareholders [1][2]