FOREWORD

2021 will be remembered in the annals of the Group as a particularly significant year.

Firstly, full-year 2021 results were excellent.

We made some changes to our governance in order to address the challenges we face, whether economic, climate-related, social or digital. At my proposal, the Board of Directors opted to separate the functions of Chairman and Chief Executive Officer. I now serve
as Chairman, with Olivier Roussat fulfilling the role of Chief Executive Officer. He is supported by two new Deputy
Chief Executive Officers: Pascal Grangé and Edward Bouygues. The arrival of a new generation of senior executives,
acknowledged for their professional skills, trained within the Group and perfectly familiar with its culture, is
entirely consistent with the tradition at Bouygues which, since its foundation, has always chosen its managers from within its ranks in order to secure its future.

We also announced a proposed merger between TF1 and M6 to create a major
French media group and signed a purchase agreement with Engie to
acquire Equans with the ambition of creating a major global player in
multi-technical services. Both these deals, which are subject to obtaining
the necessary approvals, represent two unique opportunities to make
the Group more resilient and expand its reach.

Towards the end of 2020, we unveiled a new stage in our Climate strategy to
our stakeholders,
setting out quantified targets for reducing our greenhouse
gas emissions at a pace consistent with the Paris Agreement. And in 2021,
we accelerated the roll-out of our decarbonisation actions, in relation to
both our products and services and the internal operations of the Group’s
businesses. This initiative has already produced its first results across all
our business segments. In addition, Colas recently became the first of the
Group’s business segments to have its greenhouse gas emission reduction
targets endorsed by the Science Based Targets initiative (SBTi). We intend to
devote significant resources to rolling out our plan. And because we recognise that
protecting the planet and addressing the climate emergency require urgent action,
we will continue stepping up our efforts to meet our targets for 2030.

At Bouygues, we believe that a business is above all about human endeavour
rather than money or processes
. That is why, as we face the key challenges to
come – completing our future-shaping acquisitions and achieving the targets set
out in our Climate strategy – we know that the skill, expertise, determination
and mindset of our people will make all the difference. Drawing on its unique
culture and strong values, the Group is well-positioned for 2022 – Bouygues’
70th anniversary year.

Our external growth projects will make the Group even more resilient and expand its reach.

Martin Bouygues

CHAIRMAN

Portrait de Martin Bouygues