LATEST NEWS EDITORIAL Performance and anticipation In an environment that has seen the instria rotion ine imrove in a the or’s ma­or re€ions‚ ƒor Gro ahieve a soi st er„ormane in the … ha„ o„ †‡…ˆ‚ ith „rther €ro th in revene an net rofitŠ The Gas & Services business has benefited in particular from the confirmed recovery of Industrial Merchant, which today accounts for around half of our revenue. very eoraphic ones enerated rowth in the st half of the year, most notably hina, which reported doublediit sales rowth in Industrial Merchant and lectronics. e have chosen to present in this issue our activities in this country, whose we support the industrial development and the transition from “producin more” to “producin better”. With Air€as no „ƒ inte€rate an €eneratin€ to this aƒ the sƒner€ies e initiaƒ antiiate‚ Air Li‹ie is „ose on eetin€ its NEOS miŒterm strate€i an‚ Žase on stomerŒentri oen innovationŠ ‚our ƒetter reviews the latest startup investments made by „ƒI„…, the „ir ƒiquide Group’s venture capital arm. „lready ‡ˆ investments have been made in ‰ years. BENOÎT POTIER, ‘or Gro‚ hih has a on€Œterm vision‚ ommits to eveo ne Chairman and CEO mar’ets that i „e its „tre €ro thŠ Hƒro€en as an ener€ƒ arrier is one sh romisin€ mar’etŠ Šydroen can be used to store e‹cess renewable eneries, optimie enery systems and enerate clean electricity in vehicles. The industry is becomin more oranied at a lobal level and the dynamic is intensifyin with the risin influence of the Šydroen ouncil, which now federates Ž‘ lobal companies and strives to ma’e hydroen a ’ey solution for the enery transition. ‚our ƒetter ives an update on this sub“ect and I will be pleased to meet some of you at the „ctionaria fair in ”aris, where you will be able to visit an e‹hibition on hydroen enery. READ THE GROUP’S LATEST To one‚ I o i’e to reiterate ho imortant inivia an FINANCIAL PUBLICATIONS on€Œterm sharehoin€s are to ƒor Gro‚ Žease ithot them at our website airliquide.com e o not Že aŽe to eveo as e have oneŠ •urthermore, in line with our tradition of sharin our performance, we recently distributed free shares to all of our shareholders on –ctober —. Than’ ƒo „or ƒor ommitment an haƒ reain€ to a“ Data as at October 4, 2017. Published by the Air Liquide Communications Deartment, 7, quai d’Orsay 721 Paris Cede 07, rance printed in an alcohol-free rahic desi­n” Printed by€ Imprimerie La Galiote ‚ Photo credits€ Air Liquide, ranck unouau, otolia, homas LaisnéLa Compan, process using plant-derived ourad okraniCreative ­pirit, €atrick ‚ackCA€A pictures, ƒ.ƒ. inks. Ž INTER ALDA012_02-03_GB_bat2.indd 2 19/10/2017 10:44

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