SAINT_GOBAIN_REGISTRATION_DOCUMENT_2017

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Financial and accounting information 2017 Consolidated financial statements

Long- and short-term debt consists of the following: (inɸ€ millions)

Dec.b31, 2017

Dec.b31, 2016

Bond issues

6,757

6,089

Perpetual bonds and participating securities

203 400 295

203 350 317

Long-term securitization

Other long-term financial liabilities

NON CURRENT PORTION OF LONG-TERM DEBT CURRENT PORTION OF LONG-TERM TERM Short-term financing programs (NEU CP, US CP, Euro CP)

7,655 1,064

6,959 1,835

0

0

Short-term securitizations

174 346 520

173 415 588

Bank overdrafts and other short-term financial liabilities SHORT-TERM DEBT AND BANK OVERDRAFTS

TOTAL GROSS DEBT

9,239 (1,658) (1,626) (3,284)

9,382

Cash at banks

(1,529) (2,209) (3,738)

Mutual funds and other marketable securities

CASH AND CASH EQUIVALENTS

TOTAL NET DEBT

5,955

5,644

Changes in the Group’s long-term debt can be analyzed as follows:

Dec.b31, 2016

Cash impact

No cash impact

Dec.b31, 2017

Changes in Group structure

Translation adjustments Other

Increases

Decreases

(inɸ€ millions) Long-term debt

6,959 1,835 8,794

1,597

(73)

76 13 89

(122)

(782)

7,655 1,064 8,719

Current portion of long-term term

6

(1,582) (1,655)

(5)

797

TOTAL LONG-TERM DEBT

1,603

(127)

15

The main changes with an impact on cash are described in Note 8.3.3. The main changes with no cash impact in the “Other” column relate to the reclassification of debt maturing within 12 months in short-term debt. The fair value of gross long-term debt (including the current portion) managed by Compagnie de Saint-Gobain amounted to €8.4 billion at December 31, 2017, for a carrying amount of €7.8 billion. The fair value of bonds corresponds to the market price on the last day of the year. For other borrowings, fair value is considered as equal to the amount repayable. Debt repayment schedule 8.3.2. The schedule of the Group's gross debt as of December 31, 2017 is as follows: (inɸ€ millions) Currency Within 1 year 1 to 5 years Beyond 5 years Total Bond issues EUR 737 3,689 2,451 6,877 ɸ GBP 0 617 617 ɸ NOK 76 76 Perpetual bonds and participating securities EUR 203 203 Long-term securitization EUR 100 400 500 Other long-term financial liabilities All currencies 56 131 164 351 Accrued interest on long-term debt All currencies 95 95 TOTAL LONG-TERM DEBT 1,064 4,220 3,435 8,719 TOTAL SHORT-TERM DEBT All currencies 520 520 TOTAL GROSS DEBT 1,584 4,220 3,435 9,239 At December 31, 2017, future interest payments on gross long-term debt (including the current portion) managed by Compagnie de Saint-Gobain can be broken down as follows: (inɸ€ millions) Within 1 year 1 to 5 years Beyond 5 years Total Future interest payments on gross long-term debt 230 632 590 1,452

Interest on perpetual bonds and on participating securities is calculated up to 2049.

258 SAINT-GOBAIN - REGISTRATION DOCUMENT 2017