Saint-Gobain // Universal Registration Document 2021

4 2021 results and outlook for 2022 Financial results SAINT-GOBAIN UNIVERSAL REGISTRATION DOCUMENT 2021 133 Outlook and strategic priorities 1.5 2022 outlook In 2022 the Group should continue to benefit from good momentum in its main markets – especially renovation in Europe, as well as construction in the Americas and in Asia – and reaffirm its excellent operating performance thanks to a solid and well-aligned organization. In this environment, and provided there is no new major impact related to the coronavirus pandemic and the geopolitical situation, Saint-Gobain expects the following trends for its segments: Europe: supportive renovation market, requiring ■ comprehensive solutions that increase efficiency and save time for customers, albeit with a high comparison basis in the first half; Americas: upbeat market trends, particularly in ■ residential construction in North America and in Latin America overall, despite a less dynamic environment in Brazil; Asia-Pacific: market growth with continued good ■ momentum in China and India, and a gradual recovery in South-East Asia with fewer pandemic-related restrictions; High Performance Solutions: growth in industrial ■ markets, with supportive long-term trends in sustainable construction and a demand for innovation and new materials for industry decarbonization and green mobility, despite uncertainties as to the recovery of the automotive market in Europe. Strategic priorities In this supportive environment, our strategic priorities for 2022 are fully aligned with the medium and long-term structural growth scenario in the “Grow & Impact” plan: Accelerate the Group’s growth and impact: 1. outperformance versus our markets, as ■ demonstrated by the good volume momentum throughout 2021, thanks notably to our comprehensive range of integrated, differentiated and innovative solutions offering sustainability and performance for our customers, developed within the scope of an organization as close to the ground as possible in each country or market; determined deployment of our ESG initiatives in line ■ with our 2030 roadmap towards carbon neutrality in 2050; ongoing optimization of the Group’s profile, with the ■ full effect of the Chryso integration and preparation for the GCP acquisition in the second half, as part of a vigorous dynamic of targeted and value-creating acquisitions and divestments. Continue our initiatives focused on profitability and 2. performance: maintain a robust margin and strong free cash flow generation: constant focus on the price-cost spread, with, as ■ in 2021, strong pricing agility and discipline capitalizing on a significant carry-over price effect amid inflation in raw material and energy costs of the same order of magnitude as in 2021; disciplined continuation of our operational ■ excellence program; maintaining the structural improvement in operating ■ working capital requirement while maintaining a good level of inventories to best serve customers; capital expenditure of around €1.8 billion, in line with ■ the Group’s objective of between 3.5% and 4.5% of sales, with strict allocation to high-growth markets and digital transformation. In a structurally supportive market environment, Saint-Gobain is targeting a further increase in operating income in 2022 compared to 2021 at constant exchange rates. This document contains forward-looking statements with respect to Saint-Gobain’s financial condition, results, business, strategy, plans and outlook. Forward-looking statements are generally identified by the use of the words “expect”, “anticipate”, “believe”, “intend”, “estimate”, “plan” and similar expressions. Although Saint-Gobain believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of its future performance. Actual results may differ materially from the forward-looking statements as a result of a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and are generally beyond the control of Saint-Gobain, including but not limited to the risks described in this document. Accordingly, readers of this document are cautioned against relying on these forward-looking statements. These forward-looking statements are made as of the date of this document. Saint-Gobain disclaims any intention or obligation to complete, update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. This presentation does not constitute any offer to purchase or exchange, nor any solicitation of an offer to sell or exchange securities of Saint-Gobain. No representation or warranty, express or implied, is made by Saint-Gobain or its managers, corporate officers, employees, contractors, representatives or advisors as to the accuracy or completeness of the information or opinions contained in this document.