Compagnie de Saint-Gobain S.A.

Thank you. Good evening, everybody. I hope that you have received our press release and you have been able to go through the highlights. So together with Chreda, our group CFO, we will present our Q3 2024 performance. As expected, we saw a sequential improvement in organ growth in Q3. The Americas, Asia-Pacific, and high-performance solutions saw good levels of activity. but sales continued to be affected by weak new construction markets in Europe. With the exception of France, however, most countries in Europe are at or near a low point. On the operational side, we continue to be disciplined in our execution and deliver well on what we can control. Our local teams are proactive, taking the right measures at the right time to deliver on their priorities, whatever their local environment. There is no one-size-fits-all mentality, but we are making the most of our local markets, focusing on cross-selling actions with solutions to outperform, tactical decisions on pricing, industrial actions to either adjust costs where we need to, or invest for growth where we need additional capacity in order to meet growing demand. On the strategic side, our recent acquisitions in North America, Asia Pacific, and construction chemicals made a good contribution to our growth in Q3 with a positive structure impact. I'm excited to say that in recent months, we have closed both Bailey, reinforcing our offer for light construction in Canada, with now a position of number one in building materials in this country and we have also closed csr establishing a leading position in light and sustainable construction in australia we are focused on the integration of all our recent acquisitions and implementing the planned synergies I'm thus very confident that we have the right action plans and the right teams in place to create value exactly like we have done, for instance, on Continental Building Products or Criso. We have also announced two important acquisitions in construction chemicals in recent months, Phosphoroc in India, the Middle East, and Asia Pacific in particular, and OVNIVERE the CENIX brand, which is their commercial brand, in Mexico and Central America. These two acquisitions will accelerate our presence in these fast-growing construction chemicals markets. Both acquisitions are expected to close in the first half of 2025, and we are excited to get started on the integrations as soon as we can. As you can see, we continue to allocate capital in a disciplined and decisive manner as part of our growth strategy as worldwide leader in light and sustainable construction. I will now hand over to Shredda, who will give you additional information about our third quarter sales. Shredda.

Thank you, Benoit, and good evening, everyone. As Benoit said, Saint-Gobain saw a sequential improvement in organic sales in Q3. with good levels of activity in the Americas, Asia-Pacific, and high-performance solutions, but continuing to be affected by the weak new construction markets in Europe, particularly in France. We had a positive structural impact of 3.4% in Q3, thanks to our recent acquisitions in our targeted growth markets like North America, Asia-Pacific, and construction chemicals. Volumes were down 1.5% in Q3 and by 3.1% over the nine months in line with our expectations for the full year of a low single-digit volume decrease. Prices were stable sequentially, down by 0.5% in the third quarter and by 0.8% over the nine-month period, generating a positive price-cost spread thanks to the robust pricing discipline and the overall tailwind from the raw material and energy costs. Looking at the Q3 trend, we are confident to deliver a positive spread for the second half, although the magnitude of the spread will be, as expected, much smaller in H2 than H1 due to the comparison basis. Now let us look by segment. Overall, in Europe, we saw a noticeable improvement in sales compared to the first half beyond the technical swing in working days, which were around plus 2% in Q3. Organic sales were down 4.5% in Q3 compared to down 7.9% in H1. We continue to see contrasted trends by end market. New construction remains significantly down, but renovation continues to remain resilient. Apart from France, most countries are at or near a low point, which is in line with what we told you previously. We have troughed in the UK with almost flat sales volume in Q3, which is a solid outperformance, and in the Nordic countries and Germany, we think we are close to a low point. Eastern Europe continued to see the volume growth we have now seen for the several quarters. Elsewhere, Spain and Italy continued to show slight growth with supportive renovation markets and market we clearly outperformed in these countries. And we saw a strong growth in the Middle East and Africa thanks to the recent investments. In France, we also continue to outperform in a new construction market which remains significantly down thanks to our strong renovation exposure and our comprehensive range of solutions. Given to the political uncertainty, we expect France to take a few more quarters to reach the low point as we told you at the end of July. Leading indicators for borrowing and market sentiments are encouraging, however, helped by falling interest rates and improved affordability. In the Americas, sales were up 0.8% like for like in Q3. North America remains stable at a good level as we continue to benefit from our comprehensive light solutions offering, bringing high value-added for customers and also the price increases that we are successfully implementing latin america returned to growth in q3 with the start of the expected recovery in brazil where we also saw share gains in the market with the opening of the third plasterboard line the asia pacific region saw good resilience in sales with a small decrease of 0.9% in Q3. India outperformed once again with continued volume growth, driven by our complete solutions and the strength of the Sangoban brand in the country. In China, the new construction market remains difficult, but we achieved market share gains thanks to our renovation exposure. Our move towards inner China and our fully digitally managed sales model is helping us. Southeast Asia saw sales led by Vietnam and Indonesia. And the last, but not the least, we began the integration of CSR in Australia during Q3, following completion of the acquisition in July. Now let us look at our global customer markets. High-performance solutions saw organic sales rise 0.7% in Q3, a clear sequential improvement. We saw a recovery in our sales of our ad-force reinforcement solutions and further growth in our construction chemicals business, with continued good trends in CREZO and GCP up around 4% like-for-like in Q3. Mobility sales stabilized. We outperformed the underlying auto market thanks to our strong technological positioning and also the innovation that we invest continuously. Our businesses serving industrial markets were slightly up despite some industrial markets remain uncertain. To sum up, Q3 saw a sequential improvement in organic growth We once again achieved market share gains in many countries thanks to our complete solutions offering and empowered local organization. We are confident to deliver a price-cost spread for the full year and for the H2 alone. I now hand over the floor back to Benoit for his concluding remarks.

Thank you, Sridhar.