Saint Gobain - Registration document 2016

5 2016 RESULTS AND OUTLOOK FOR 2017 1. Financial Results

price at December 30, 2016 (€44.255). The ex-dividend date June 14, 2017. has been set at June 12 and the dividend will be paid on and a dividend yield of 2.85% based on the closing share ahead. This dividend represents 50% of recurring net income context of our strong 2016 results and confidence looking demonstrating our focus on shareholder returns in the increased dividend of €1.26 per share (versus €1.24 in 2015),

number of shares outstanding to 553.4 million shares at 11 million shares for €418 million, resulting in a decrease in the 2016 the Group bought back and later canceled around Share buyback and dividend: in line with its objectives, in end-December 2015). end-December 2016 (compared to 558.6 million shares at Saint-Gobain’s Board of Directors decided to recommend to At its meeting of February 23, 2017, Compagnie de the June 8, 2017 Shareholders’ Meeting to pay in cash an industry. Our operations in Asia and emerging countries impacts of 2016, but will continue to face uncertainty in should enjoy robust growth. construction markets, excluding the exceptional weather the UK. North America should continue to advance in pursue: cash management and financial strength. In particular, it will Saint-Gobain will continue its disciplined approach towards its focus on sales prices amid an uptick in inflation; ‹ Europe should deliver organic growth, despite less visibility in in France, despite a still uncertain renovation market. Western In 2017 the Group should benefit from a gradual improvement 2017 OUTLOOK 1.3

its cost savings program , with the aim of unlocking ‹ the 2016 cost base); additional savings of around €270 million (calculated on 2017), with a focus on growth capex outside Western its capital expenditure program (around €1,600 million in ‹ Europe and also on productivity and digital transformation; differentiated, high value-added strategy; its commitment to invest in R&D to support its ‹ its focus on high levels of free cash flow generation . ‹

The Group is targeting a further like-for-like increase in operating income in 2017 .

The prospective information contained in this registration document can only be applied on the date of its publication. Section 1 of this registration document. Consequently, every precaution must be taken in using these forward-looking statements. information, future event or for any other reason. Saint-Gobain makes no commitment to supplement, update or amend these forward-looking statements as a result of any new which are difficult to anticipate and are generally outside Saint-Gobain’s control, specifically the risks described in Chapter 7, from forward-looking statements due to a number of risks, both known and unknown, uncertainties and other factors, most of document, investors are warned that they are not guarantees of future performance. Actual results may differ quite significantly Saint-Gobain believes these forward-looking statements are based on reasonable assumptions as of the date of publication of this These statements on outlook constitute either trends or objectives, and are not to be considered as projected results. Although

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SAINT-GOBAIN - REGISTRATION DOCUMENT 2016