Americas Q4 Gas & Services Sales: €1,931m INDUSTRIAL MERCHANT LARGE INDUSTRIES HEALTHCARE ELECTRONICS • IM accelerating in U.S. • Back to growth following • Dynamic South America: • Very Strong Advanced • Bulk and cylinder volumes up hurricanes Brazil and Argentina Materials • Positive pricing • High air gases and H2 • Canada: solid growth • Lower E&I sales vs. • All end-markets positive volumes high Q4 2016 • Hardgoods significantly up • Very strong growth in South America and Canada (1) (1) Refer to appendix for definitions (2) Excluding impact of energy and compared to the adjusted 2016 operating margin 15 February 2018 Full Year 2017 Results The world leader in gases, technologies and services for Industry and Health 43