2025 Shareholder's Practical Guide

As the world grapples with demographic, climate, political, and technological changes, the ability to innovate and adapt is critical to both performance and durability.
Air Liquide is strategically positioned to act in this environment. Our global presence and solid bases in key industrial regions are structural strengths that enable us to serve a broad spectrum of sectors, underpinning the Group’s growth and resilience. By leveraging our deep understanding of industrial environments, Air Liquide is increasingly working within coalitions or acting as a facilitator in multi-player ecosystems – a role that showcases our expertise and capacity to work confidently with customers and partners. This kind of collaboration is becoming more vital than ever and will allow us to step up the pace as we develop solutions to the complex challenges facing us, which transcend corporate and national boundaries.

In decarbonization, we continue to roll out technological solutions for sustainable industry. In health, the Group is expanding its solutions to tackle the challenges posed by the rise of chronic diseases and the far-reaching changes affecting healthcare systems. Air Liquide is also supporting the development of new technologies, including in semi-conductors, artificial intelligence, and biotech. The Group’s recent successes in these areas illustrate not only the relevance of our useful and practical solutions, but also the ability of our teams to generate value for customers and create a positive impact for society.

Acting in the common interest also means leading by example. That’s why we have made serious environmental commitments as part of our determination to lower our CO₂ emissions by 33% by 2035. To do that, we continue to develop the use of low-carbon hydrogen, CO₂ capture, and renewable electricity to run our factories. In fact, thanks to these steps, we have already cut emissions by 11%⁽¹⁾ relative to 2020. These commitments are upheld at every level of the company, beginning with the Board of Directors, which keeps a close watch to ensure that our financial and extra-financial goals are aligned, to support responsible and sustainable growth.

Our strong governance, commitment to financial and extra-financial performance, capacity for innovation, and trusted relationship with stakeholders will stand us in good stead to take on the many challenges ahead while seizing opportunities as they arise. Being agile, anticipating changes, and staying true to our values — attention to the needs of our customers and patients, respect for our employees, long-term vision — will be keys to our success. I have every confidence in our employees, who are committed to achieving our aspirations. Similarly, I know that your Group can count on the support of our 900,000 individual Shareholders.

Together with our employees and customers, it is thanks to you, our valued Shareholders, that Air Liquide can act impactfully today to build a sustainable tomorrow.