Saint-Gobain in advanced talks to acquire CSR

Saint-Gobain confirms that it has approached the Board of CSR Limited, a leading Australian building materials company listed on the Australian Securities Exchange, with a non-binding indicative offer to acquire all of CSR's issued share capital by way of a scheme of arrangement at an offer price of A$9.00 cash per share ⁽¹⁾.

Saint-Gobain's offer is subject to confirmatory due diligence, and the entry into binding transaction documents.  Any agreed transaction will also be subject to the satisfaction of customary conditions, including regulatory approvals and CSR shareholders' approval.

Saint-Gobain believes that the combination is an attractive opportunity for both companies leveraging our long-term partnership with similar business models, cultural fit and development opportunities. This acquisition would be fully aligned with Saint-Gobain's strategy as a worldwide leader in light and sustainable construction and an opportunity to enter the Australian market.

The Board of CSR has announced that it has unanimously resolved to pursue the offer at an agreed price of A$9.00 per share subject to entry into binding transaction documents. Saint-Gobain is currently completing its final confirmatory due diligence. No transaction is assured at this stage and Saint-Gobain will keep the market informed on the progress of the transaction as required under applicable rules.

(1) Under Saint-Gobain's proposal, CSR would be entitled to pay a final dividend of up to A$0.25 per share for its financial year ending 31 March 2024, which would be deducted from the cash offer price

About Saint-Gobain

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group's commitment is guided by its purpose, "MAKING THE WORLD A BETTER HOME".

€51.2 billion in sales in 2022

168,000 employees, locations in 75 countries

Committed to achieving Carbon Neutrality by 2050

For more information about Saint-Gobain, visit www.saint-gobain.com and follow us on  X @saintgobain