Saint-Gobain // Universal Registration Document 2021

Strategy The financial approach: allocating the Group’s resources efficiently

Ensuring agile and value-creating portfolio management 4.2

Saint-Gobain pursues a strategy of managing its business portfolio that is both dynamic and value-creating.

Continuing the strategy of 4.2.1 value-creating acquisitions

Continuing a regular portfolio 4.2.2 review to focus the Group’s strengths Saint-Gobain continued its portfolio optimization strategy, aimed at enhancing the Group’s growth and profitability profile in line with the objectives of the Grow & Impact plan in the light of three decisive criteria: the strategic suitability of the activity in relation to the rest of the Group; its performance against Saint-Gobain’s own value creation criteria; and its prospects within the Group’s global organization. In 2021, Saint-Gobain completed or signed 20 disposals for €2.0 billion in sales. In the glass sector, the group announced that it had sold Saint-Gobain Glassolutions Objekt-Center, which specializes in glass processing operations as part of the Glassolutions network in Germany, to the German privately-owned Aequita group based in Munich. This disposal concerns the two sites of Döring Berlin and Radeburg, which generated €20 million in sales in 2020. Aequita had already purchased the activities of Glassolutions in the Netherlands in 2019. In September 2021, Saint-Gobain also sold Glassolutions Belgium and Deggendorf, and announced at the end of 2021 that it had sold Glassolutions Denmark. In distribution , Saint-Gobain signed agreements for the sale of Graham, its distribution activity specializing in plumbing, sanitary and heating in the United Kingdom; and also for the sale to Wolseley UK of three of its remaining four UK distribution brands specialized in plumbing, heating and sanitaryware in the United Kingdom: Neville Lumb, DHS and Bassets. The Group has also entered into exclusive negotiations with Wolseley UK for the sale of Ideal Bathrooms, the remaining distribution brand specialized in plumbing, heating and sanitaryware products in the United Kingdom. Saint-Gobain also finalized the sale of three retailers in Spain, La Plataforma de la Construccion to the BigMat group, as well as Discesur to Group Jorge Fernandez in association with Group Terrapilar, and lastly the Sanigrif and Saniplast brands. In the Netherlands, the Group completed the sale announced in early January 2021 to BME (Building Materials Europe) of Saint-Gobain Building Distribution the Netherlands (SGBD NL), an entity operating under the Raab Karcher, Tegelgroep Nederland, Galvano and Van Keulen brands, which has 38 sales outlets in seven countries. In France, announced at the end of 2020, the sale by Saint-Gobain of Lapeyre to Mutares, a company listed on the Frankfurt Stock Exchange, was completed. This transaction aims to concentrate Saint-Gobain’s resources on its strategic activities. In pipe business, Saint-Gobain announced the signing of an agreement under the terms of which the Group is disposing of 67% of its pipes business in China to a consortium led by local management. The transaction values the company at around €100 million. This transaction resulted in the sale by Saint-Gobain of control of PAM China, while maintaining its link with the pipes business in Europe, as part of a long-term industrial partnership. It is part of the strategy of continuing to optimize the Group’s portfolio, aimed at enhancing its growth and profitability profile.

In 2021, Saint-Gobain completed or signed 37 acquisitions representing almost €2.0 billion in sales. These acquisitions are perfectly aligned with the Group’s strategy formulated in the Grow & Impact plan. Saint-Gobain’s vision, to be the worldwide leader in light and sustainable construction , naturally leads to external growth that favors sectors such as construction chemicals, prefabrication and light construction methods. Such a strategy enables the Group to consolidate its leading position, particularly in North America and Asia, and to expand its offering. The acquisition of Chryso , a specialist in admixtures for concrete and additives, offering differentiated and innovative solutions and employing approximately 1,300 people, significantly strengthens Saint-Gobain’s offering for sustainable construction. This acquisition was supplemented by the announcement, in December 2021, of the signature of an agreement for the purchase of GCP Applied Technologies (the finalization of the transaction is expected to take place by the end of 2022). In the same vein, the Group made significant acquisitions in Mexico in 2021, namely Impac, a leading player in Latin America, with a plant in Monterrey (Nuevo Leon); in Romania: Duraziv , a company specializing in production of adhesives and other value-added solutions in construction chemicals ; in Peru: Z Aditivos has extensive experience in cement and asphalt additives; and in Russia: Adheziv , a company specializing in polyurethanes and epoxy products. With these acquisitions, the Group’s activities in mortars and construction chemicals represented more than €4 billion in sales in 2021. In Germany, in 2021 the Group announced that it had acquired a majority stake in Brüggemann , one of the country's leading companies in the manufacture and installation of turnkey modular timber construction solutions for new construction and renovation. In France, Saint-Gobain completed the acquisition of Panofrance , a specialist distributor of timber and panels for construction and furnishing industries, enabling the Group to strengthen its presence in the fast-growing market for timber-based building systems , providing light solutions and and rapid implementation. In Mauritius , Saint-Gobain acquired a majority stake in ABE, a major player in waterproofing, additives and mortars in the Indian Ocean. In addition, to meet the growing market demand in Sub-Saharan Africa , the Group acquired Kens Metal, enabling it to establish an industrial presence in Kenya with a gypsum production line. In India , Saint-Gobain entered into an agreement with Alghanim Group for the acquisition of its wholly-owned subsidiary, Rockwool India Pvt Ltd., a major manufacturer of stone wool in the country, which uses Saint-Gobain technology under license for this manufacture. Rockwool India has two manufacturing facilities in India, in Hyderabad and Silvassa, with a total production capacity of 50,000 tons, and benefits from a strong marketing network across the country.

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