Q4 -Accelerating Americas,Sustained IM in Europe +31% FY as published AMERICAS EUROPE FY 2017 FY 2017 €8,150m €6,776m G&S Comparable Sales Growth Excluding the impact of the one–off in Q4 2016 Strong IM and LI in Americas Improved underlying activity • LI: rebounding after hurricanes • LI: solid H2 demand; high comparison effect • IM: growth accelerating to >+6% • IM: sustained growth above +3%; bulk and • EL: dynamic Advanced Materials, low E&I cylinder volumes up • StrongHCin Latin America and Canada • Solid HC, still low contribution from acquisitions 16 15 February 2018 Full Year 2017 Results The world leader in gases, technologies and services for Industry and Health

Air Liquide Full Year 2017 Results - Page 16 Air Liquide Full Year 2017 Results Page 15 Page 17