4 LETTER TO SHAREHOLDERS N°97 FOCUS... On September 1, 2023, Saint-Gobain completed the acquisition announced on June 12, 2023 of Building Products of Canada (BPC), a privately owned manufacturer of residential roofing shingles and wood fiber insulation panels in Canada, for C$1,325 million (approximately €925 million) in cash. STRATEGIC BENEFITS The acquisition of Building Products of Canada, a leading roofing and exterior building products player in Canada, will add roofing materials to the range of sustainable construction solutions available to the Group’s Canadian customers. Saint-Gobain’s innovation expertise will allow the Group to develop a broader, more sustainable range of solutions in Canada. With this acquisition, Saint-Gobain takes a logical step to reinforce its leadership in light and sustainable construction in the Canadian market. VALUE CREATION & SYNERGIES to cross-selling opportunities with Kaycan (leveraging the full exterior solutions offering) and using Building Products of Canada channels to sell other Saint-Gobain product categories and expand their product range in roofing (with Landmark® shingles and GCP Ice & Water Shield® waterproofing membranes). Canada is a key growth market for Saint-Gobain’s light and sustainable construction solutions, with significant structural needs in housing, a fast-growing population driven by immigration, and a renovation market supported by ageing buildings. The Group’s pro forma sales in the country have doubled over the past two years, from C$0.9 billion to C$1.8 billion. circular economy know-how and recycle Building Products of Canada shingle waste, leveraging CertainTeed’s partnership with Asphaltica for recycling asphalt shingles used in roofing. Significant synergy opportunities are estimated at C$50 million by year 3 following the closing of the transaction. This includes cost synergies of C$40 million which are expected to be captured through the combination of Building Products of Canada’s materials procurement with that of Saint-Gobain, the implementation of Saint-Gobain’s World Class Manufacturing program leveraging best practices from its industryleading position across its 17 US roofing plants, optimization of freight and logistics costs across North America, as well as SG&A cost optimization. Sales synergies of C$10 million are expected thanks This acquisition will create value for Saint-Gobain’s shareholders by year 3 following closing and will be EPS (Earnings Per Share) accretive from year 1. It will provide an enhanced proposition for our customers thanks to a full-range offer: 1. Leverage our innovation for a unique comprehensive solutions offering: bring CertainTeed building-integrated photovoltaic (BIPV) Solstice® shingles to the Canadian market, enrich the Building Products of Canada offer with our ClimateFlex® allweather technology, our industry-leading reflective shingle Solaris®, our widest range of Landmark® premium products, and our best-in-class Roof System that utilizes all CertainTeed roofing components including GCP underlayment; 2.Drive sustainability in building materials: leverage CertainTeed’s INTERIOR SOLUTIONS EXTERIOR SOLUTIONS THE ACQUISITION OF BUILDING PRODUCTS OF CANADA REINFORCES THE GROUP’S LEADERSHIP IN CANADA