Letter to SHAREHOLDERS H1 2026 RESULTS: GROWTH IN ALL REGIONS AND STRONG OUTPERFORMANCE IN THE SECOND QUARTER SALES €23.6 bn +0.7%1 EBITDA €3.6bn 15.4% of EBITDA margin RECURRING NET INCOME2 €1.7bn 1. Like-for-like structure and exchange rates 2. See 2026 Half-Year Results Press Release, page 5 SAINT-GOBAIN NEWS PAGES 6 & 7 HIGH-GROWTH MARKETS: SAINT-GOBAIN STEPS UP ITS INVESTMENTS IN INDIA PAGES 4 & 5 Navi Mumbai International Airport, India JULY 2026 No 103
2 LETTER TO SHAREHOLDER No 103 H1 2026 RESULTS “The first half of 2026 marked a return to growth across all our Regions and once again confirmed our ability to outperform our markets in a contrasted environment. Sales growth was accompanied by a very good operational performance thanks to the strength of our local organization and the commitment of our teams, who I wish to thank. With our unrivalled range of comprehensive, innovative and sustainable solutions, we have captured market share in residential and new positions in non-residential and infrastructure. Our outperformance in construction chemicals is a perfect illustration. The first half was also shaped by major transactions to optimize the Group’s profile: with the rotation of 7% of sales in just six months, we are ahead of our objective. I am confident that 2026 – the inaugural year of our ambitious “Lead & Grow” plan – will be another year of value creation for Saint-Gobain’s shareholders and all its stakeholders.” A FEW WORDS From Benoit Bazin Chairman and Chief Executive Officer of Saint-Gobain • Good organic sales growth of 3.5% in Q2 (up 0.7% in H1), driven by all Regions (Asia-Pacific up 7.0%, Europe up 4.1% and Americas up 0.9%) and by an acceleration in construction chemicals outperformance with 8.5% organic growth in Q2 (up 5.3% in H1) • Strong operational execution, with an EBITDA margin of 15.4% and a free cash flow conversion ratio of 65% • Reinforcement of the Group’s profitable growth profile, with the rotation of around €3bn of sales announced year-to-date, increasing the Group’s exposure to Asia, emerging countries and North America (14 acquisitions and 9 disposals) In a contrasted macroeconomic environment and uncertain geopolitical landscape, the Group expects an EBITDA margin of more than 15.0% in 2026
3 LETTER TO SHAREHOLDER No 103 H1 2026 RESULTS RESULTS BY REGION 1,240 1,470 21.4% 19.5% Americas Europe, Middle East & Africa Asia-Pacific SALES €14,887m +1.7%1 SALES €2,661m +7.0%1 +4.1%1 +7.0%1 IN Q2 Return to sales growth in the second quarter and over the first half Strong sales growth over the full half-year period - France: outperformance thanks to the comprehensive range of solutions and services, and to the deployment in Point.P and Cedeo branches of AI-powered tools (Artificial Intelligence) which expedite customized quotes, resulting in an enhanced basket and mix. - Nordic countries: progression in the second quarter driven by new construction and an improved mix with higher value-added solutions (fire-resistant and low-carbon plasterboards, Glasroc® X). - Spain and Italy: growth led by interior solutions and construction chemicals, which continued to capture market share. - India: further double-digit growth and market share gains, led by its comprehensive, innovative and sustainable solutions. - South-East Asia: further good momentum, driven by double-digit growth in Vietnam, Indonesia and the Philippines. The Region benefited from an expanded range of specified solutions for infrastructure projects, from the enhanced sustainability credentials of its solutions and from data centers. - Australia: accelerated growth in the second quarter in an improving new construction market. Asia-Pacific 470 18.0% 18.5% 491 Americas SALES €6,366m -3.8%1 +0.9%1 - North America: 1.2% growth in the second quarter after a first quarter that saw extreme weather conditions. Volume growth was driven by roofing, plasterboard, siding solutions and construction chemicals, where the Group delivered double-digit growth. - Latin America: slight volume growth but prices remained down on last year due to lower energy and raw material costs over the half-year period. Mexico and Central America were boosted by further double-digit growth at Cemix. Return to sales growth in the second quarter EBITDA (€m) & EBITDA MARGIN (%) 1,928 1,915 H1-2026 H1-2025 13.0% 13.0% Europe, Middle East & Africa EBITDA (€m) & EBITDA MARGIN (%) EBITDA (€m) & EBITDA MARGIN (%) 1. Like-for-like structure and exchange rates H1-2026 H1-2025 H1-2026 H1-2025 IN Q2 IN Q2
4 LETTER TO SHAREHOLDER No 103 H1 2026 RESULTS 1. India’s leading English-language business daily HIGH-GROWTH MARKETS: SAINT-GOBAIN STEPS UP ITS INVESTMENTS IN INDIA On May 4, 2026, in an interview published in The Economic Times1, Benoit Bazin, Chairman and Chief Executive Officer of Saint-Gobain, the worldwide leader in sustainable construction, announced an investment of approximately €1 billion in India over the next five years. The announcement was formally confirmed during a meeting in Paris on June 18, 2026, on the sidelines of the G7 summit with Indian Prime Minister Narendra Modi. The Prime Minister highlighted Saint-Gobain’s strong presence and investments in India. Discussions focused on the opportunities offered by the construction materials sector, with particular emphasis on sustainable development and SaintGobain’s significant footprint in India, which is creating jobs for the country’s young population. “This decision to invest €1 billion in India is fully aligned with our Lead & Grow strategy,” explains Benoit Bazin. “The outlook for the coming years is unequivocal: if we look at the next decade, I believe it will be India’s decade. The main growth drivers for sustainable construction materials and solutions are population growth and increasing urbanization”. Indeed, India does have unique potential: a population of between 1.4 and 1.5 billion people, growing by 14 to 15 million annually. This demographic momentum is accompanied by rapid urbanization, the emergence of a fast-growing middle class, and the need for significant infrastructure investment across all sectors. Together, these factors are creating sustained demand for housing, infrastructure, and high-performance building solutions, making India a particularly attractive market for Saint-Gobain. “If we combine all these factors, there will be strong growth in both the residential market and infrastructure sectors, which should be particularly favorable for the Group,” emphasizes Benoit Bazin. Faced with this growing demand, SaintGobain has three major strengths: - First, in a market that remains highly fragmented, the Group stands out for its ability to address the full spectrum of construction needs with a comprehensive range of solutions and a highly recognized brand in India. “We are the only player in India able to offer a complete solution for all construction needs,” explains Sreedhar, CEO of India and the AsiaPacific Region. “From glass and plasterboard to construction chemicals and insulation, Saint-Gobain provides a comprehensive range of products and services. This integrated approach enables us to serve all segments, from residential and non-residential buildings to major infrastructure projects, while emphasizing energy performance and carbon footprint reduction: airports, tunnels, rail networks, hospitals, data centers, and more.” Benoit Bazin with Narendra Modi, Indian Prime Minister Saint-Gobain site in Vizag, India
5 LETTER TO SHAREHOLDER No 103 H1 2026 RESULTS 1. Capital Markets Day, October 6, 2025 2. 2025 sales 3. In local currencies in first-half 2026 The Group is already involved in flagship projects such as the Pune metro and the Mumbai-Ahmedabad high-speed rail corridor. It is also contributing to new developments, particularly in the airport sector, with Saint-Gobain solutions being used in the construction of Navi Mumbai International Airport, for example. Meanwhile, the Oragadam site, located near Chennai and currently under development, is set to become the Group’s largest industrial platform worldwide, bringing together multiple production lines for glass, mineral wool insulation, plasterboard, mortars, and acoustic ceilings on a single site. - Second, Saint-Gobain is a recognized leader in sustainability in India. 70% of India’s green buildings use the Group’s solutions. Saint-Gobain was the first company in Asia to launch low-carbon glass at its Chennai plant and to adopt biomassbased energy sources at its Vizag facility in Andhra Pradesh. In addition, the Group’s energy-efficient building solutions significantly reduce energy consumption and carbon emissions. - Third, after more than 40 years in India, Saint-Gobain has built a strong industrial footprint, with 82 production sites across the country, a state-of-the-art Research & Development center on the Chennai Institute of Technology campus employing around 300 researchers, and more than 22 new plants built since 2019. Supported by Accroître l’exposition aux pays à forte croissance structurelle this extensive industrial presence and strategic acquisitions such as UP Twiga (glass wool, 2022), Rockwool India Pvt Ltd. (stone wool, 2023), and FOSROC (construction chemicals, 2025), the Group’s business in India has already quadrupled over the past decade, reaching €1.7 billion in sales in 2025 and an EBITDA margin exceeding 20%. The Group now intends to build on this momentum. “We have doubled our size in India every five years, and the goal is to triple our size in the next ten years,” says Benoit Bazin. The announced €1 billion investment will focus on several priorities: building new plants, strengthening research & development, expanding digital capabilities, and pursuing targeted acquisitions in building materials to support sustainable construction. In addition, the Group aims to roughly triple its number of retail outlets, further develop its distribution network – which currently includes 21,500 points of sale1, and expand its partnership ecosystem by approximately doubling the number of key industry influencers1 by 2030. By investing in India, Saint-Gobain is continuing its strategy of strengthening its market position and increasing its exposure to highgrowth regions, particularly North America, Asia and emerging markets. These regions are expected, over time, to account for close to 60% of the Group’s sales, compared with more than 50% today, pro forma for recent changes in scope.
6 LETTER TO SHAREHOLDER No 103 H1 2026 RESULTS 1. To learn more: www.isover.co.uk, www.british-gypsum.com, www.fr.weber/en 2. Article in French: www.batiweb.com/actualites/isolation/confort-ete-climatisation-dernier-recours-saint-gobain-49024 3. Solar control glass, www.saint-gobain-glass.co.uk/our-glassolutions-product-range: COOL-LITE® range, ECLAZ® ZEN and ECLAZ® SUN glazing solutions 4. Up to 70% reduction in energy bills with a rapid return on investment SAINT-GOBAIN NEWS To tackle poorly insulated buildings, reduce energy consumption and preserve occupant comfort both in summer and winter, Saint-Gobain recommends focusing first on insulation1 before resorting to air conditioning. “If we only address the symptom by adding cooling capacity without improving the building envelope, we end up with an over-sized air-conditioning system that operates five times longer than it would in an energy-efficient building, resulting in much higher energy consumption,” explains Olivier Servant, Director of Construction Solutions at SaintGobain France2. The first step is to improve the building envelope. “The purpose of insulation is to limit heat transfer through walls and roofs,” explains Claude Da Silva, Construction Solutions Research & Development Director. High-performance insulation for facades and roofs helps limit overheating and can reduce indoor temperatures by up to 10°C during periods of extreme heat. The second approach is to reduce heat gain through glazed surfaces while preserving natural daylight. One of Saint-Gobain’s flagship solutions is solar control glass3. Thanks to a specific coating applied to the glass, it reflects up to 70% of infrared radiation while still allowing 70% to 75% of natural light to enter. “The magic of solar control glass is providing access to natural light while blocking heat,” summarizes Emmanuel Valentin, International Market Manager Glass Windows. This technology can reduce peak overheating by 3°C to 6°C. Finally, night-time ventilation and light-colored or reflective coatings complement these measures by limiting heat accumulation and storage within buildings. These proven solutions improve comfort, reduce energy bills4, and enhance the longterm value of real estate assets. Challenges SAINT-GOBAIN SOLUTIONS TO COMBAT EXTREME HEAT SOME FLAGSHIP PROJECTS
7 LETTER TO SHAREHOLDER No 103 H1 2026 RESULTS Strategy ACQUISITION OF XYPEX, A LEADER IN WATERPROOFING SOLUTIONS Saint-Gobain has entered into a definitive agreement to acquire Xypex, a global leader in crystalline waterproofing admixtures and coatings. Headquartered in Vancouver, Canada, the company operates in more than 100 countries, employs approximately 170 people and is expected to generate sales of CAD 110 million in 2026. Thanks to its cutting-edge technology, Xypex has established itself as the benchmark in crystalline waterproofing. Its solutions enhance the durability and service life of concrete structures, particularly in transportation infrastructure, water management facilities, and underground construction projects. This acquisition will enable Saint-Gobain to strengthen its presence in the attractive nonresidential and infrastructure markets, while creating commercial and operational synergies by combining Xypex’s specification-driven model with Saint-Gobain’s global footprint, distribution network and construction chemicals platform. The transaction, which is expected to be completed in the fourth quarter of 2026, is fully aligned with Saint-Gobain’s “Lead & Grow” strategic plan. It also reflects Saint-Gobain’s continued expansion in construction chemicals, with 14 acquisitions completed in the first half of 2026, including 9 in this segment, as well as 14 new production lines or plants opened, 13 of which are located in high-growth regions, particularly North America and Asia-Pacific. ZERO-CARBON CEMENT BOARD PRODUCTION IN VIETNAM Saint-Gobain Vietnam has reached a major milestone by becoming the first company in the country to achieve net-zerocarbon production (scopes 1 and 2) for its DURAflex® cement boards. Located in Quang Tri Province, this pioneering facility positions the Group at the forefront of sustainable construction in Asia and contributes directly to Vietnam’s objective of achieving carbon neutrality by 2050. This achievement is the result of a profound transformation of the plant’s industrial operations. The facility has replaced its diesel-fired boiler with biomass-powered equipment, using locally-sourced agricultural residues such as rice husks and wood chips. At the same time, the site is now supplied with electricity generated entirely from renewable sources. These changes have reduced scope 1 CO2 emissions by approximately 2,000 tons per year, notably through the elimination of fossil fuels and the full electrification of forklift trucks. Scope 2 emissions have been reduced by a further 2,800 tons per year through the use of renewable electricity. As a further step, scope 3 emissions are also being reduced through the partial substitution of cement in the products. Beyond its environmental impact, this project demonstrates Saint-Gobain’s ability to turn its climate commitments into tangible results and to play a leading role in low-carbon innovation across Asia. Innovation Markets & Customers RIGIMOVE®: THE PARTITION WALL WITH ENDLESS POSSIBILITIES RigiMove®, developed by Rigips® (Saint-Gobain Germany), is revolutionizing interior partitioning through a system that is able to be fully disassembled and reused. Unlike traditional partitions designed for a single use, RigiMove® enables spaces to be assembled, disassembled and reconfigured without complicated construction work or significant waste generation. The system is based on telescopic studs installed without permanent fixings on panels secured using hook-and-loop fastening strips. This design eliminates the need for jointing, plastering, drying, sanding and painting, significantly reducing installation times and on-site disruption. Designed for multiple reuse cycles, RigiMove® improves its environmental footprint with each use. Launched in Germany in 2025, it addresses growing demand for flexibility in offices, retail spaces and adaptable residential buildings.
8 H1 2026 RESULTS High: €105.9(1) 03/06/2025 €84.92(1) 08/04/2026 SHAREHOLDER’S NOTEBOOK SAINT-GOBAIN SHARE PERFORMANCE FROM 01/01/2021 TO 08/04/26 NO. OF SHARES OUTSTANDING (at 06/30/2026) ~489 million shares OWNERSHIP STRUCTURE (at 06/30/2026 – %, estimated) 8.4% Group Savings Plan (employee shareholders) 35.4% Institutional investors Americas-Asia 8.5% Private shareholders 1.0% Treasury shares DATES FOR YOUR DIARY FINANCIAL CALENDAR Nine-month sales October 27, 2026 (after market close) ONLINE DOCUMENTATION 2025 Universal Registration Document 2026 Sustainable Construction Magazine 14.3% Institutional investors France 32.4% Institutional investors Other Europe CONTACTS Managing Editor: Vivien Dardel Manager, Individual Shareholders: Blandine Ruesch ISSN No. 1245-3978 Design: Cédric Bertandeau Photo credits: Saint-Gobain photo library Saint-Gobain’s Shareholder Relations Department will be pleased to answer any enquiries. Please feel free to contact them: • By dialing: (from France) 0 800 32 33 33 or +33 1 88 54 05 05 (from outside France) • Online, at: www.saint-gobain.com • By e-mail, at: actionnaires@saint-gobain.com • Via the Saint-Gobain Shareholder App • By post: Saint-Gobain Service Actionnaires Tour Saint-Gobain 12 place de l’Iris 92400 Courbevoie France — (1) Saint-Gobain share — CAC 40 Recent performance at 08/04/2026 (%) Saint-Gobain share CAC 40 +126.5% +27.4% +14.9% +56.1% Performance since 01/01/2021 (%) Performance since 01/01/2024 (%)
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