A FEWWORDS FROM BENOIT BAZIN Chief Executive Officer of Saint-Gobain 2 LETTER TO SHAREHOLDERS N°97 H1 2023 RESULTS “In a difficult macroeconomic environment, the Group once again demonstrated its strategic positioning as worldwide leader in light and sustainable construction and the relevance of its “Grow & Impact” strategy. Thanks to our teams’ agility, entrepreneurial spirit and dedication, we once again delivered record earnings, margins, and value creation in the first half of 2023. Our organization by country has enabled the Group to outperform, both by proactively adapting our operations on the ground but also by making selective growth investments, including in additional production capacity and with acquisitions such as Building Products of Canada. Over 60% of our earnings are now generated in North America, Asia and emerging countries, where trends are improving and the growth outlook is supported by demographics and rapid urbanization. In Western Europe, renovation – our biggest market – continues to show good resilience as expected, with stimulus measures and regulations aimed at accelerating the path to carbon neutrality; structural demand for new construction is growing, even though additional financing costs are temporarily impacting the sector. Despite a moderate slowdown in its markets in the short-term, in 2023 Saint-Gobain will deliver a double-digit operating margin for the third consecutive year. Over the medium term, I am confident that the Group’s new profile places it firmly on a sustainable profitable growth trajectory.” • Like-for-like sales up 1.6% • Record margin of 11.3% and record operating income of €2,813m despite a difficult environment • Significant operating income growth in North America, Asia and emerging countries, which represent over 60% of the Group’s earnings • Strong increase in free cash flow, up 30% at €2,192m • Double-digit operating margin expected in full-year 2023 for the third consecutive year, demonstrating the Group’s resilience A GROWTH STRATEGY BUILT ON SUSTAINABLE SOLUTIONS AND INNOVATION Saint-Gobain continues to outperform its markets thanks to the pertinence of its strategic positioning at the heart of energy and decarbonization challenges, and to the strength of its local organization by country, which enables it to offer comprehensive solutions to its customers: ►A comprehensive range of solutions accelerating growth Saint-Gobain’s solutions for renovation, the building envelope and innovative new light construction methods drastically reduce CO2 emissions while increasing user wellbeing (thermal and acoustic comfort, light, air quality and hygiene). Each country CEO has adopted a specific local approach. ►A sustainable, innovative offer Innovation at Saint-Gobain follows various transversal axes: • Light construction systems; • Sustainable solutions protecting natural resources; • Materials and solutions to conquer new markets; • Decarbonizing production processes. In a difficult macroeconomic environment, the Group continues to demonstrate its resilience and its strong operating performance, thanks to its focused strategy and its proactive commercial and industrial initiatives. The Group continues to focus on developing sustainable and innovative solutions with a positive impact, supported by strong innovation and investments for growth. 2023 will therefore mark another successful year for Saint-Gobain, with the continued implementation of its “Grow & Impact” priorities. The Group confirms its assumptions for its markets in 2023 with contrasting trends: a marked decline in new construction in certain regions but good resilience overall in renovation, and is raising its operating margin guidance. Amid a moderate market slowdown, Saint-Gobain is now targeting for full-year 2023 a double-digit operating margin, for the third consecutive year. For second-half 2023, the Group is targeting an operating margin of between 9% and 11%, in line with the “Grow & Impact” strategic plan target.