4 2021 results and outlook for 2022 Financial results www.saint-gobain.com SAINT-GOBAIN UNIVERSAL REGISTRATION DOCUMENT 2021 128 The Asia-Pacific Region reported 28.5% growth versus 2020 and 17.0% growth versus 2019, including 17.8% in the second half versus second-half 2019. The operating margin for 2021 came in at an annual record high of 11.8% (versus 10.7% in 2020 and 10.6% in 2019), supported by good momentum in volumes. expected to be completed by the end of first-quarter 2022, will help continue this overall dynamic. China enjoyed very strong growth in 2021, benefiting from market share gains thanks to its positioning on high value-added segments, in an upbeat market. Several development projects will help accelerate growth in light and sustainable construction, including new gypsum lines India delivered a strong performance in 2021, despite an and waterproofing solutions. Although South-East Asia unstable health situation throughout the year. The Group returned to growth overall at the end of the year captured market share in the country, thanks to its compared to 2019, driven by Vietnam where the Group leadership in promoting energy- and resource-efficient continued to capture market share, its 2021 performance buildings, an integrated and innovative range of solutions was affected by the numerous health restrictions imposed for the residential market (Home & Hospitality), and the in light of the coronavirus pandemic. introduction of new ranges of construction chemicals. The integration of Rockwool India in stone wool insulation, e. High Performance Solutions (HPS): good growth in sales versus 2019 excluding Mobility Exchange rates Structure Price Volumes 2020 sales Sales (€m) Operating income (€m) and margin (%) 2021 sales 6,544 7,511 -1.4% +1.7% +0.7% +13.8% +14.8% 2021/2019 +3.3% like-for-like 2018 Launch of transformation 2021 -100 bps 986 931 12.4% 13.4% 2021/2020 +14.5% like-for-like HPS sales were up by 14.5% year-on-year and by 3.3% compared to 2019, with a stronger 4.6% increase in the second half versus second-half 2019 thanks to upbeat industrial markets in the fourth quarter, with the exception of automotive in Europe. Against this backdrop, the operating margin came in at 12.4% for the year (versus 9.4% in 2020 and 12.7% in 2019), continuing to be affected by Mobility in Europe. Businesses serving the Construction Industry ■ outperformed the market with 11.8% growth versus 2019, continuing to benefit from upbeat trends in textile solutions for external thermal insulation systems (ETICS) thanks to good momentum in sustainable construction. This growth was supported by the increase in production capacities for textile solutions. The integration of Chryso got off to a very good start: the company is consolidated as from fourth-quarter 2021 and sales trends are very positive, ahead of the expectations set at the time of the acquisition. quarter (up 1.7%) driven by a progression in sales to the Americas and China, particularly in electric vehicles, which now represent around 20% of our automotive sales. Europe remained down, as the shortage of semi-conductors weighed on automotive manufacturers’ production capacities. However, thanks to its very strong positioning in electric vehicles and high value-added products, the Mobility Business continued to significantly outperform the automotive market. The Mobility business remained slightly below 2019 ■ levels (down 3.1%), but returned to growth in the fourth Businesses serving Industry progressed 6.4% on 2019, ■ supported by positive trends in surface finishing solutions and innovation in decarbonization technologies for our customers, such as Saint-Gobain’s expertise in specialty materials that help significantly reduce CO2 emissions from many different industrial processes and applications (e.g., ceramic refractories for glass manufacturers). Although the year-on-year rebound in activities relating to investment cycles intensified throughout the year, these activities remain slightly down on 2019.