Invitation to our General Meeting 2024

REGULAR AND SUSTAINED PERFORMANCE

STOCK MARKET PERFORMANCE

This diagram shows stock market performance.

Air Liquide

2003: approximately 30
2006: approximately 40
2009: approximately 45
2012: approximately 65
2015: approximately 80
2018: approximately 88
2021: approximately 139
2022: approximately 150
2023: approximately 175

Index based CAC 40

2003: approximately 30
2006: approximately 40
2009: approximately 35
2012: approximately 30
2015: approximately 40
2018: approximately 40
2021: approximately 60
2022: approximately 60
2023: approximately 65

DELIVERING VALUE TO SHAREHOLDERS OVER THE LONG TERM

DIVIDEND PROPOSAL

3.20euros Subject to approval at the Shareholders’ General Meeting scheduled for April 30, 2024.

STRONG INCREASE OF THE DIVIDEND PROPOSED IN 2024

+8.5% growth

NET PROFIT ALLOCATION

56%

DIVIDEND GROWTH

This graph shows the dividend growth.

More than 8.1% GAGR Compound annual growth rate. over 20 years.

Dividend Dividend Per Share paid in the year and related to previous year result. Adjusted for the 2-for-1 share split in 2007, for free share attributions and for the capital increase completed in October 2016. in euro per share

2003: approximately 0.6
2005: approximately 0.7
2007: approximately 1.0
2009: approximately 1.2
2011: approximately 1.3
2013: approximately 1.6
2015: approximately 1.8
2016: approximately 1.8
2019: approximately 2.1
2020: approximately 2.4
2021: approximately 2.4
2023: approximately 2.9

Free share attribution Subject to approval at the Shareholders’ General Meeting scheduled for April 30, 2024.

2004: approximately 0.6
2006: approximately 0.8
2008: approximately 1.1
2010: approximately 1.2
2012: approximately 1.5
2014: approximately 1.7
2017: approximately 1.9
2018: approximately 2.1
2022: approximately 2.8
2024 Subject to approval at the Shareholders’ General Meeting scheduled for April 30, 2024.: approximately 3.1