Pierre-André de Chalendar A message from 2 WWW.SAINT-GOBAIN.COM 1 SAINT-GOBAIN TODAY 5 Group Profile 1. 6 Corporate culture 2. 11 governance General Management and 3. 16 2 THE WELL-BEING OF ALL ONE AMBITION: TO IMPROVE 23 The Group and its environment 1. 24 Creating great living places 2. 29 Solutions specifically for industrial 3. markets 35 Proximity to customers 4. 37 A Group organization to serve 5. customer and market needs 39 3 STRATEGIC DRIVERS FOR SUSTAINABLE GROWTH 49 the Group is resilient Balancing the Activities to ensure 1. 50 Continuing the Group’s digital 2. transformation 54 Sustainable differentiation through 3. innovation and R&D 59 Building closer customer relations: 4. rebranding Saint-Gobain 63 4 AN EFFICIENT AND RESPONSIBLE GROUP 65 Reference policies 1. 66 Operational excellence policies 2. 69 A Group that is committed to the 3. professional growth of its employees 80 The Group’s contribution to local 4. and societal development 88 5 2016 RESULTS AND OUTLOOK FOR 2017 93 Financial Results 1. 94 Non-financial results 2. 106 6 CORPORATE GOVERNANCE 119 Composition and operation of the 1. Board of Directors 121 Management and Directors’ 2. compensation 144 Company stock traded 3. by Directors 164 7 RISKS AND CONTROL 165 Risk factors 1. 166 Internal control 2. 175 Board of Directors on internal control and risk management procedures and corporate governance (Article L.225-37 of the French Commercial Code) Report from the Chairman of the 3. 186 Article L.225-235 of the French commercial code, on the report from the Chairman of the Board of Directors of Compagnie de Saint-Gobain Statutory Auditors’ report, 4. prepared in accordance with 187 8 STRUCTURE CAPITAL AND OWNERSHIP 189 Capital 1. 190 Ownership structure 2. 193 Stock market/securities market 3. information 196 Information policy 4. and financial calendar 201 Dividends 5. 202 9 FINANCIAL AND ACCOUNTING INFORMATION 203 2016 Consolidated Financial 1. Statements 204 Statutory Auditors’ report on the 2. consolidated financial statements 257 Compagnie de Saint-Gobain 3. annual financial statements (parent company) 260 statements Statutory Auditors’ report on the 4. parent company financial 288 Management report Compagnie de 5. Saint-Gobain annual financial statements 290 Financial summary over the past 6. five years 292 Statutory auditors' special report 7. on related party agreements and undertakings 293 10 TABLES ADDITIONAL INFORMATION AND CROSS-REFERENCES 297 Additional information 1. 298 CSR information 2. 315 Cross-reference tables 3. 322