5 Corporate governance Compensation of the management and governing bodies www.saint-gobain.com SAINT-GOBAIN UNIVERSAL REGISTRATION DOCUMENT 2021 190 In total, for the fiscal year 2021: Mr. Pierre-André de Chalendar's total compensation as ■ Chairman and Chief executive officer (fixed and variable) from January 1 to June 30, 2021, amounted to €1,612,350. On an annualized basis, this total compensation was up by 34.6% compared to 2020 (after reduction caused by Covid-19). Excluding any reduction, this total compensation would have been up by 29.9%. As a reminder, the annual variable compensation paid in 2021 for fiscal year 2020 to Mr. Pierre-André de Chalendar for his term of office as Chairman and Chief executive officer amounted to €1,283,350, as approved by the Ordinary Shareholders’ Meeting of June 3, 2021 (9th Resolution); pursuant to the Compensation policy approved by ■ the General Shareholders’ Meeting of June 3, 2021, the compensation of Mr. Pierre-André de Chalendar was set at €450,000 gross per annum for the entire duration of his term of office as Chairman of the Board of Directors. The Nomination and Remuneration Committee had noted in 2021, with the assistance of an independent recruitment firm, that this level was below the median of compensation paid to non-executive Chairmen of CAC 40 companies who previously held the position of Chairman and Chief executive officer (excluding financial companies). This amount is set for a full year and was paid pro rata temporis as from July 1, 2021 (i.e. €225,000 in total from July 1, 2021 to December 31, 2021); Mr. Benoit Bazin's total compensation (fixed and ■ variable) as Chief operating officer from January 1 to June 30, 2021, amounted to €933,281. On an annualized basis, this total compensation was up by 48% compared to 2020 (after reduction caused by Covid-19). Excluding any reduction, this total compensation would have been up by 28%. As a reminder, the annual variable compensation paid in 2021 for fiscal year 2020 to Mr. Benoit Bazin for his term of office as Chief operating officer amounted to €566,184 as approved by the Ordinary Shareholders’ Meeting of June 3, 2021 (10th Resolution); Mr. Benoit Bazin's total compensation (fixed and ■ variable) as Chief executive officer (period from July 1 to December 31, 2021) amounted to €1,343,625. Long-term compensation policy Cap on the Chief executive officer’s grants relative to his total compensation Chief executive officer's annualized maximum gross total compensation for the 2021 fiscal year (fixed plus maximum annualized variable for the 2021 fiscal year). In addition to the restrictions set out below, the Board of Directors resolved, in accordance with the AFEP-MEDEF Code, that the long-term compensation instruments that would be allocated in 2021 to Mr. Benoit Bazin could not represent, at the time of their allocation, a valuation (according to IFRS standards) greater than 85% of the In 2021, the performance shares allocated to Mr. Benoit Bazin amounted to a total value (according to IFRS), at the time of their grant, of €2,290,656, corresponding to 84.8% of his annualized maximum gross total compensation for the 2021 fiscal year. It should be noted that since the allocation of long-term compensation instruments took place in November 2021, after the separation of roles, Mr. Pierre-André de Chalendar did not receive any long-term compensation instrument during the 2021 fiscal year. No stock option or performance unit plan was implemented in 2021. Cap on the Chief executive officer’s grants relative to the overall allocation envelope The Board of Directors decided, during its meeting of February 25, 2021, as in previous years, that the Chief executive officer could not receive more than 10% of the overall grants of performance shares under the long-term compensation plan to be set up in 2021. Hedging rules The Chief executive officer formally committed not to hedge his risk either on stock options or on shares resulting from the exercise of stock options, on performance shares or on performance units he has been or will be granted during his term of office as Executive corporate officer, until the cessation of his duties. To the Company’s knowledge, the Chief executive officer has not hedged his risk. Closed periods In their capacity as Executive corporate officers and by virtue of the applicable regulations as reminded in the Board’s internal rules (see Chapter 9, Section 1.1.2), Messrs. Pierre-André de Chalendar and Benoit Bazin must refrain from carrying out any transactions on Saint-Gobain securities for thirty days prior to Board meetings during which the annual consolidated financial statements and the half-year consolidated financial statements are examined, for fifteen days prior to the release of quarterly consolidated sales and on the day following the release of the full and half-year results. Outside of these periods, they are also required, as are the other Directors, to abide by the provisions on the prevention of insider trading. Stock options The tables below present the stock options exercised by the Executive corporate officers during the 2021 fiscal year. No stock option plan was implemented in 2021.