Saras S p A : Air Liquide and Saras launch a study to decarbonise the Sarroch refinery through Carbon Capture and Storage

PRESS RELEASE

Milan, September 15th, 2021

Air Liquide and Saras launch a study to decarbonise the Sarroch refinery through Carbon Capture and Storage (CCS)

Air Liquide and Saras, one of the leading independent players in the European energy and oil refining industry, signed a memorandum of understanding (MoU) aimed at exploring the solutions to reduce the carbon footprint of the Sarroch refinery, one of the most important refineries in Europe. As part of this agreement, the two companies will assess the technical and economical feasibility to realize new solutions for the capture and storage of CO2 emissions related to the Sarroch refinery processes. This initiative is in line with the respective Sustainable Development Objectives of both the companies.

The Memorandum of Understanding signed by the two companies provides for a first-phase study aimed at assessing different carbon capture solutions, among which Air Liquide's proven and patented solution CryocapTM, and their applicability. In a second phase, the two partners plan to conduct a more extensive feasibility study that will also include CO2 transport and storage solutions.

A carbon capture and storage (CCS) solution at the Sarroch site would enable a reduction in the carbon footprint of the refinery and of the process of electricity supply to the surrounding community. The Sarroch site is in fact equipped with an IGCC plant (Integrated Gasification Combined Cycle), an integrated combined cycle plant that uses heavy products of the refinery to produce electricity intended to supply both industrial customers and domestic use in Sardinia.

As part of this MoU, Air Liquide will also explore the possibility of reducing the carbon footprint of its existing oxygen and nitrogen production capacity on the site, using renewable electricity in the context of long-term energy purchase agreements.

This agreement is in line with Air Liquide's Sustainable Development Objectives, which include the target to reach carbon neutrality by 2050. In this context, the Group aims not only to reduce the carbon footprint of its activities, but also to work with its customers for a sustainable industry and contribute to the development of a low-carbonsociety.

As part of its strategy for the energy transition, Saras has defined a series of projects that include, alongside the development of new capacity from renewable sources, the reduction of CO2 emissions using low-carbonhydrogen, the production of low carbon fuels that can meet the specific needs of the market, and the energy efficiency of its production processes.

Bruno Ponson, General Manager of Air Liquide Italia, declared: "We are pleased to accompany Saras in its project to decarbonise the Sarroch site, making available our expertise in CO2 capture and storage technologies. Through this initiative, both companies will strengthen a partnership that has existed for over 30 years by extending it to the fight against climate change. Supporting the decarbonisation of the industry is one of the

Joint press release Air Liquide - SARAS

strategic pillars of the Air Liquide Group, which is committed to address the urgency of climate change and the challenge of the energy transition aiming to achieve carbon neutrality by 2050."

Dario Scaffardi, CEO of Saras, declared: "This agreement is an important step in Saras's commitment to address the challenge of the energy transition by ensuring the sustainability of our production site in the medium to long term. The capture and storage of CO2 is a cutting-edge technology with a significant potential, and it is recognized as a fundamental technology to achieve the goal of climate neutrality. Air Liquide has been one of Saras' main suppliers for decades. We are pleased and proud to develop this study with a partner of excellence, with extensive and recognized experience and who has already developed important similar projects, in the certainty that this collaboration will help in defining solutions to effectively address the challenges for the sustainable development of our Group".

AIR LIQUIDE CONTACTS

Communications Air Liquide Italia

Cecilia De Guarinoni

[phone]

[e-mail]

Francesca Ficca

[phone] [e-mail]

SARAS CONTACTS

Saras Investor Relations

Tel + 39 02 7737642 [e-mail]

Contatti per i media: Comin & Partners Lelio Alfonso

Tel [phone] [e-mail] Giuseppe Stamegna

Tel [phone]

giuseppe.stamegna @cominandpartners.com

About Air Liquide

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 78 countries with approximately 64,500 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide's scientific territory and have been at the core of the company's activities since its creation in 1902.

Air Liquide's ambition is to be a leader in its industry, deliver long term performance and contribute to sustainability - with a strong commitment to climate change and energy transition at the heart of its strategy. The company's customer-centric transformation strategy aims at profitable, regular and responsible growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.

Air Liquide's revenue amounted to more than 20 billion euros in 2020. Air Liquide is listed on the Euronext Paris stock exchange (Compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes

For more infowww.airliquide.com

About Saras

The Saras Group founded by Angelo Moratti in 1962 is one of the leading independent players in the European energy and refining industry. Through the parent Compay Saras SpA, and its subsidiaries, Saras Trading SA, based in Geneva, and Saras Energia SAU, based in Madrid, the Group sells and distributes oil products in the domestic and international markets. The Group also operates in the production and sale of electricity, through its subsidiaries Sarlux Srl (IGCC plant) and Sardeolica Srl (Wind plant). Moreover, the Group provides industrial engineering and research services to the oil, energy and environment sectors through its subsidiary Sartec Srl. The Group has about 1,690 employees and total revenues of about 5.3 billion Euros as of 31st December 2020 (about 9.6 billion Euros as of 31st December 2019).

Joint press release Air Liquide - SARAS