Saint-Gobain // Universal Registration Document 2021

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Financial and accounting information 2021 Consolidated Financial Statements

6.3.2.2 Sensitivity to assumptions A 0.5-point decrease (increase) in the discount rate would lead to an increase (decrease) in defined benefit obligations of around €200 million for the United States plans, €180 million for the Eurozone plans and €510 million for the United Kingdom plans. A 0.5-point increase in the inflation rate would lead to an overall increase in defined benefit obligations of around €560 million. The same assumptions concerning mortality, employee turnover and interest rates are used to determine the Group’s defined benefit obligations for other long-term employee benefits. In the United States, retirees’ healthcare costs are projected to rise between 4.00% and 5.63% per year (under 65 years of age), and between 2.80% and 6.56% per year (older than 65), depending on the age of the beneficiary. A 1-point increase in this rate would lead to an increase of around €24 million in the related projected benefit obligation.

Breakdown of and changes in pension and 6.3.3 other post-employment benefit obligations 6.3.3.1 Carrying amount of provisions Provisions for pension and other employee benefit obligations consist of the following:

Provisions for all

other long-term benefits total

€135 million at December 31,

2021 (€129 million at

December 31, 2020). The following table shows net obligations under pensions and other post-employment benefit plans, excluding other long-term benefits:

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2021

Dec. 31, 2020

(in EUR millions)

(in EUR millions)

Pension obligations

1,263

1,822 400

Provisions for pensions and other post-employment benefit obligations – liabilities

Length-of-service awards

361 255

Post-employment healthcare benefits TOTAL PROVISIONS FOR PENSIONS AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS

278

1,879 2,500

Pension plan surpluses – assets NET PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS

(894)

(334)

1,879 2,500

985 2,166

Healthcare benefits

26

24

Long-term disability benefits Other long-term benefits

8

11

101

94

PROVISIONS FOR PENSIONS AND OTHER EMPLOYEE BENEFITS

2,014 2,629

6.3.3.2 Analysis of obligations At December 31, 2021, pension obligations and provisions for other post-employment benefit obligations break down by major geographic region as follows:

United Kingdom

United States

Rest of the

France Eurozone

world Net total

(in EUR millions)

AVERAGE DURATION (in years)

14

17

20

13

16

17

Defined benefit obligations – funded plans Defined benefit obligations – unfunded plans

584 294

1,496

5,471

2,941

1,029

11,521

51

220

270

835

Fair value of plan assets DEFICIT (SURPLUS)

(249)

(848)

(6,261) (790)

(2,915)

(1,129)

(11,402)

629

699

246

170

954

Asset ceiling

2

29

31

NET PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS

629

699

(788)

246

199

985

At December 31, 2020, pension obligations and provisions for other post-employment benefit obligations break down by major geographic region as follows:

United Kingdom

United States

Rest of the

France Eurozone

world Net total

(in EUR millions)

AVERAGE DURATION (in years)

14

17

20

13

17

17

Defined benefit obligations – funded plans Defined benefit obligations – unfunded plans

616 330

1,459

5,518

2,987

965 258

11,545

147

243

978

Fair value of plan assets DEFICIT (SURPLUS)

(228)

(482) 1,124

(5,810)

(2,885)

(965)

(10,370)

718

(292)

345

258

2,153

Asset ceiling

6

2

5

13

NET PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS

718

1,130

(290)

345

263

2,166

SAINT-GOBAIN UNIVERSAL REGISTRATION DOCUMENT 2021 300

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