Q4 - IM Driving Growth, LI Outlook Positive +22% FY as published INDUSTRIAL LARGE MERCHANT INDUSTRIES FY 2017 FY 2017 €9,261m €5,336m G&S Comparable Sales Growth Continued increase in IM High volumes offset by Q4 2016 one-off • Accelerating in North America • Highair gases and H2 volumes • Very strong China, dynamic in Americas developing economies • Ramp-upsin China • All end-markets up • Major start-up in South Africa • Firming pricing, +1.7% • Europe: sales slightly up excl. exceptionals 15 February 2018 Full Year 2017 Results The world leader in gases, technologies and services for Industry and Health 18