Air Liquide : Interactions - June 2022

J

The rendez-vous for Air Liquide's Shareholders

ACHIEVEMENTS

ACCELERATING INDUSTRY

DECARBONIZATION p. 4

SPECIAL FEATURE

ADVANCE: FORGING AHEAD TO

THE FUTURE p. 6

AIR LIQUIDE & YOU

Reuniting at the

Annual General

Meeting p. 9

Interview

On June 1, François Jackow took over as CEO from Benoît Potier, who remains Chairman of the Board of Directors. This handover promises both continuity and renewal, and has been in the works for some time. Coupled with the launch of our new strategic plan, ADVANCE, the change in governance marks a new chapter in the Group's history.

You have just become CEO of Air Liquide. What are your thoughts on the Group's future?

First of all, I must stress how proud I am to step into Benoît Potier's shoes and how eager I am to continue the Group's transformation through ADVANCE, our new 2025 strategic plan that is working in the present to lay the groundwork for the future. ADVANCE places sustainable development among

performance to set us on the right trajectory for global performance. It also strengthens our identity as a corporate citizen, mindful of the interests of all stakeholders and, more broadly, society as a whole.

Our strategic positioning in tomorrow's markets, primarily

regarding our future prospects. I'm determined to take advantage of every opportunity for the Group to grow. We have some solid assets to help us do just that, namely our identity as

teams, the diversity of our business activities, our international presence and the stability of our business model.

Decarbonization is a true social challenge. It is central to our new strategic plan. How is the Group responding to this challenge?

I

now on. Decarbonizing industry has become a priority in the

development opportunity for the Group. For over 50 years, we

whose development potential is no longer in doubt. We are an indispensable partner to industrial customers pursuing

solutions to reduce their CO2 emissions. Of course, we also play our own active part in decarbonization. We've committed to cut our emissions by 33% by 2035 and to achieve carbon neutrality by 2050.

What roles will you and Benoît Potier, the Chairman of the Board of Directors, each have within the new governance structure?

This handover has been in the works for some time. I will have

CEO

Benoît Potier will manage the activities of the Board, give his opinion on the organization's key strategic decisions and hold discussions with certain stakeholders when the need arises.

with our Shareholders. We believe this close relationship

to be essential. It's a strength that few other groups can claim. The most recent Annual General Meeting was proof of this

- holding it in person once again was a great success.

Our Shareholders' trust in us is one of the keys to the Group's successful development. Our ambition is to ensure the Group's growth trajectory and to continue to shape the future, together.

Thank you for your loyalty and happy reading!

Complimentary copy. Published by Air Liquide SA - Company established for the study and application of processes developed by Georges Claude, 75, quai d'Orsay -

75321 Paris Cedex 07, France, represented by Benoît Potier. Publication Director: Benoît Potier. Editor: Alexandra Rocca. Graphic Design:- Date of publication: June 2022.

Photo credits: p. 1: Mourad Mokrani, p. 2: François Roelants, p. 3: Mourad Mokrani, p. 4: Olive/GettyImages, p. 5: Mourad Mokrani; Virginie de la Hija, p. 6: Betsie Van Deer Meer/

GettyImages, p. 7: Wayne Eastep/GettyImages, p. 8: Adrien Daste, p. 9-10: Mourad Mokrani, p. 10: Thomas Hensinger/Solar Impulse Foundation, p. 11: Mourad Mokrani,

p. 12: Preto_perola/GettyImages.

HIGHLIGHTS

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SHAREHOLDERS ATTENDED

E 2022 NNU ENE

MEETING

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  gathered in-person at the Palais des Congrès in Paris
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  tuned in to the live webcast

•

discussions dedicated to answering Shareholders' questions

Read more p. 9

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Europe

ACCELERATING INDUSTRY DECARBONIZATION

In Europe, Air Liquide is multiplying its projects to speed up the decarbonization of industry. Let's take a closer look at three examples that showcase the Group's expertise in renewable hydrogen and carbon management.

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Normand'Hy, a project to produce renewable hydrogen on a large scale

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the decarbonization of the Normandy industrial basin and the development

3 TRANSPORTING CO2

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solutions joint venture. Dedicated to the transportation, by boat and barge, CO2, the venture will service future carbon capture

and storage (CCS) projects in Europe. Through this initiative, the Group is bolstering its position in CSS technologies, which are essential tools for industrial decarbonization.

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to look into solutions for reducing CO2 emissions within the industries in the Mediterranean basin that are hardest to decarbonize. The two companies will

CCS

04

Japan

CRUCIAL INVESTMENTS IN ELECTRONICS

Air Liquide is investing in four cutting-edge plants in key industrial basins for electronics in Japan. These energy-ecient production plants will have the capacity to produce over 1.5 billion normal cubic meters (Nm3) per year of nitrogen and other ultra-high purity gases, which are essential for designing energy-ecient semi- conductors. The first production plant is expected to be operational by the end of 2022. The Group will thus be well positioned to meet the strong demand created by the long-term contracts signed with two world leaders in the sector.

MORE THAN

€300M

IN STAGGERED

INVESTMENTS

South Korea

WORKING

TOWARDS SUSTAINABLE AVIATION

Air Liquide, Airbus, Korean Air and Incheon International Airport Corporation have signed an agreement with two objectives. The first is to develop the use

of hydrogen at Incheon Airport and the surrounding area, to work towards an ecosystem that connects other airports in South Korea. The second is to define and build the liquid hydrogen infrastructure needed for the arrival of the first hydrogen-powered aircraft. This partnership is testimony to the shared ambition to mold a new and innovative aviation sector, in line with the South Korean government's

aim to reach carbon neutrality by 2050.

ACHIEVEMENTS

Worldwide

THE GROUP'S FIRST SUSTAINABLE DEVELOPMENT REPORT

In April, Air Liquide published its first report entirely dedicated to its sustainable development ambitions. It showcases its achievements in contributing to a low-carbon society, improving the quality of life in healthcare and engaging with employees, customers, suppliers and Shareholders to nurture a safe,

"inclusive and collaborative environment. It also reports the Group's extra-financial performance.

The Group is continuing to enhance its transparency to the market on the progress achieved toward our stated sustainability ambitions. We know where we are today and where we want to go, and this clear understanding distinguishes Air Liquide as a leader in sustainability.

FABIENNE LECORVAISIER,

EXECUTIVE VICE-PRESIDENT IN CHARGE

OF SUSTAINABLE DEVELOPMENT, PUBLIC

AND INTERNATIONAL AFFAIRS, SOCIETAL

PROGRAMS AND THE GENERAL SECRETARIAT

United States

THE WORLD'S LARGEST BIOMETHANE PRODUCTION PLANT

With a wealth of expertise across the biomethane value chain, Air Liquide is building its biggest production plant

in the world in Rockford, Illinois. Scheduled to be operational by 2023, the plant will produce up to 380 GWh of biomethane per year. The Group recently opened another production plant in Delavan, Wisconsin, which is powered by the waste from a landfill site. These two new plants are helping to establish Air Liquide as a key player in US biomethane production, enabling the Group to support its customers in transportation and industrial sectors with a global production capacity reaching 1.8 TWh per year.

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