YOUR QUESTIONS „A I€ LA…I€ € ˜ecurities ‰ccounting and Ta —anager, ˜hareholder ˜ervices at ‰ir Ši“uide “A shared-gift has É IC ­€‚€LLIƒ positive tax implications.” —anaging ‹irector at ‰ŠI‰‹ “ALIAD’s investments are THE QUESTION a part of Air Liquide’s Open Can I pass shares on to my children and continue Innovation strategy.” to receive the dividends? (for French tax residents only) Yes, this is possible with a hand-to-hand gift or shared-gift, by opting for what is known as a donation with division of share THE QUESTION ownership with usufruct reserved. It is very simple: you transmit the bare ownership value of your shares to your children while What are the latest investments in start-ups decided by retaining the usufruct. You continue to receive dividends, take part ALIA the Air Liuide roup’s venture capital arm? in general meetings and manage your share portfolio. You may sell In the five years of its eistence, ‰ŠI‰‹ has made ƒ investments all or some of shares with the agreement of the bare owners. in start-ups. The targeted sectors are linked to the maŒor trends The loyalty bonus is preserved. Concerning the formal process: identified by the Žroup as representing growth opportunities: the • The hand-to-hand gift may be made before a notary, or at energy transition, health and digital. These investments are a minimum declared to the rench ta administration using form accompanied by rolling out business or ‘esearch ’ ‹evelopment  ­. This process is associated with a ta eemption for gift partnerships with Žroup entities. ‰s part of the digital amounts up to €‚ƒƒ,ƒƒƒ every ‚­ years, per child and for each transformation, we have taken e“uity in ‡roem, a pioneer in of the parents. It is reportable with respect to the donor’s estate. semantic analysis software and online services for etracting • A shared-gift is drawn up with a notary as an authenticated relevant information from a large volume of tetual data. ‰ir Ši“uide deed. It reduces inheritance taes, based on the value of the bare uses this start-up’s solution in several ways, for eample to analy”e ownership of shares according to the legal scale and based its customers’ feedback. ‰ŠI‰‹ also invested in …bleam, a on the age of the usufructuary. …nlike the hand-to-hand gift, Toulouse-based start-up speciali”ed in the Internet of Things. the shared-gift is not reported in the inheritance. …pon the donor’s …bleam has designed a technology solution involving round and death, the beneficiary children become full owners of the property, “smart” barcodes, along with augmented reality capabilities to without taation. access the detailed characteristics of a product, or the volume ‡assing on shares taation differs country by country. ‡lease get available in a gas cylinder. In the healthcare sector, ‰ŠI‰‹ ac“uired advice from your country financial eperts. an e“uity stake in ‹ietsensor, which offers an innovative application for diabetic patients that helps them track the glucose levels of their meals, and in ‹iabeloop, an emblematic start-up working on the development of the artificial pancreas. TO VOTE FOR THE QUESTIONS YOU’D LIE OUR EERTS TO ANSER IN THE NET ISSUE visit interactions.airliquide.com INTERACTIONS AIR LIQUIDE’S LETTER TO SHAREHOLDERS  NOVEMBER  9 ALDA012_09_GB_bat.indd 9 13/10/2017 14:40