Michelin announces that it has completed a euro-denominated bond issue for a total amount of one billion euros in two tranches of seven and 12 years, with coupons of 3.125% and 3.375% respectively.

The net proceeds of this issue will be used for general corporate purposes. The bonds have been placed with qualified investors and application will be made for their admission to listing on Euronext Paris.

The bonds are expected to be rated A- by Standard & Poor's and Fitch Ratings. This issue was carried out under the EMTN program set up in December 2023 by the tire manufacturer with the AMF.

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