Michelin Completes The Divestment Of Its Bias Tires And Tracks For Compact Construction Equipment Activities

COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN

Michelin completes the divestment of its bias tires and tracks for compact construction equipment activities

Michelin today completed the sale in accordance with the terms announced on December 6, 2024, after obtaining all the necessary approvals for the transaction.

This program includes two plants, Midigama Tyre Division and Casting Product Division, both based in Sri Lanka and dedicated to the bias tires and tracks for compact construction equipment, as well as the Camso brand, which will be sold at the end of a three-year licensing period.

The decision is aligned with the Michelin in Motion 2030 sustainable growth strategy, which focuses the Group's efforts where its innovations and technologies are the most valued. At the same time, the Michelin Group has planned to discontinue production of bias tires for the same equipment at its Olsztyn plant in Poland by the end of 2025. The Group will continue to offer its radial technology tires on the relevant market and its tracks for other beyond-road markets.

The divestment and discontinuation of these activities, which accounted for around 3% of the Group's third Reporting Segment (RS3) net sales in 2024, will help strengthen the financial performance of the Segment.

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This press release is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, please consult the documents filed in France with the Autorité des Marchés Financiers, which are also available from the michelin.com website.
This press release may contain a number of forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions at the time of publishing this document, they are by nature subject to risks and contingencies liable to translate into a difference between actual data and the forecasts made or inferred by these statements.

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• 20250901_PR_Michelin completes the divestment announced in December 2024

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