2024 Shareholder’s Practical Guide

In a world facing multiple crises, our Group has once again demonstrated exceptional resilience. This has enabled it to distinguish itself through remarkable performance and social commitment. This resilience is built on the many qualities of our business model. It relies above all on the people who make up Air Liquide. I would like to express my immense pride to each and every one of them.

The individual and collective contributions of our employees are all the more admirable given the simultaneous challenges facing our environment, and thus the Group, such as climate change, geopolitical tensions, inflation and rising energy prices. Their commitment has helped us move forward and, thanks to unique innovation capacities, lead the way in many areas, from the energy transition – particularly in the fields of hydrogen and carbon capture – to creating value in healthcare with more personalized solutions, and bolstering our leadership in electronics.

At the same time, we have continued to support progress in a wide range of industrial sectors, such as chemicals, glass and food, where our low-carbon solutions are making a difference. We have also paved the way for new markets, such as metal 3D printing or electric batteries.

Another reason for our satisfaction is the efficient and fully operational collaboration between the Board of Directors and the Executive Committee since our new governance structure was introduced in 2022. The partial replacement of the Board of Directors through the appointment of new independent directors strengthened our Group’s positive momentum. With the wide-ranging expertise of its members, the collegial nature of its deliberations, and the diverse views and opinions it represents, the Board provides the Group’s executive management and Executive Committee with an enlightened and informed view of the economy, the world and its prospects.

The future will undoubtedly be full of challenges as well as unprecedented opportunities. I firmly believe that our Group will seize these opportunities with determination and boldness. Our ability to plan for the future, the commitment of our teams around the world, our close relationship with our customers and patients, and the full confidence of our shareholders make me more confident than ever. The Board of Directors and I have faith in the Group’s ability to grow and progress every day, thanks to the commitment of each and every employee, as we continue to invent the future.