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
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