A view of the future through the industrial gas “crystal ball” Bertrand Saraux, VP Industrial Merchant Eastern Europe Conference Budapest, May 12th 2015

More than 2 million customers and World leader in gases, technologies and services for Industry and Health Revenue 2014 €15.4 billion Present in +80 countries More than 50,000 employees More than 2 million customers and patients

Air Liquide presence in Europe: building the future European hub R&D Expert network Engineering and Construction Air Liquide in Europe: 27 countries, >1M Customers and patients 25 000 Employees Head Office R&D and Expert network Advanced Technologies Engineering

What can we foresee?

A vision of the future until 2050: a solid GDP growth at 3% Source PwC 2015 Growth in developping slowing down (but 75% of growth) while growth in mature recovering. GDP/Capita still significantly higher in advanced countries 6 European countries in the TOP 32 countries: Russia, Germany, United Kingdom, France, Turkey, Italy, Poland and Netherlands SUBJECT TO Demography Productivity and investment Institutional challenges in developping

How societal trends will shape Industrial and Medical Gas future Developing Economies High Tech & Urbanization Health Energy Environment Industrial Merchant Electronics Industrial Merchant Healthcare Large Industries L I Creating new opportunities….

The Future in Industrial Gas Business in Europe Western Europe Eastern Europe Mega trends Industry transformation New usages and clients New Business Models Production growth Modernization and outsourcing 10% of Europe but 20% of Growth 7

Opportunities in Industry… +4.6% Growth in pharmaceuticals +34,000 new aircrafts needed by 2031 €64bn LED lamps market in 2020 8 billion inhabitants to feed in 2025 only 64% of the global population having access to improved sanitization INVESTOR DAY // December 11, 2013 // Air Liquide, world leader in gases for industry, health and the environment

Fast ageing population Fast changing lifestyles And … Healthcare Fast ageing population Fast changing lifestyles Global population over 60 11% in 2000 22% in 2050 Global population in urban areas 47% in 2000 70% in 2050 Chronic Obstructive Pulmonary Disease (COPD) Cancer Neuro-degeneration Obesity Diabetes Sleep apnea INVESTOR DAY // December 11, 2013 // Air Liquide, world leader in gases for industry, health and the environment

Answering to simplicity and higher mobility needs In Industry And Healthcare Takeo Offer Innovation ALbeeTM for craftmens : easy to choose, to buy, to use, to exchange ALbeeTM Cool ALbeeTM Flame ALbeeTM Weld ALbeeTM Fly TakeoTM for Healthcare professionals : easy to use INVESTOR DAY // December 11, 2013 // Air Liquide, world leader in gases for industry, health and the environment

Innovative business models: H2 Energy markets

A bright future for Industrial and Medical Gases in Europe Conclusion + Innovation = A bright future for Industrial and Medical Gases in Europe

THANK YOU FOR YOUR ATTENTION !

Industrial gases: what are we talking for? For hospitals For home healthcare patients For a wide range of industrial processes for customers: Energy, metals, food, chemicals, automotive pharmaceuticals … Industry Health

Industrial gases: a few molecules with unique capabilities Separating the components of the air to take advantage of their properties Air… Helium Natural resources Krypton Argon Oxygen Nitrogen Xenon THAT Enhance productivity and efficiency Enhance product quality Increase Safety Improve or preserve environment Optimize processes and achieve more efficient use of resources: energy, raw materials Carbon Dioxyde Recovery processes Acetylene Chemical processes Hydrogen AT ALL STAGES OF INDUSTRIAL PROCESSES Production Maintenance R&D and quality control Waste management

Next 20 years CO2 emissions Striking evolutions Americas population +19% from 2010 to 2030 In Advanced economies, people aged > 60 years increase from 22% to 30% by 2050 Asian urban population +46% from 2010 to 2030 China urban private consumption from 10 in 2012 to 27 RMB in 2022 World urbanized population 70% in 2050 World middle-class from 2bn in 2009 to 5bn people in 2030 OCDE waste production x2 from 2010 to 2015 Next 20 years CO2 emissions x2 vs 200 past years

How societal trends will shape Industrial and Medical Gas future Energy Responding to the growing demand for energy by: Saving energy in industrial processes & technologies Coal conversion Innovating in alternative energies Environment Reducing emissions to preserve the environment by: Reducing industrial emissions Producing energy forms that pollute less Saving natural resources Health Anticipating rising life expectancy and demand for food preservation by: Supplying solutions and using reliable processes to ensure medicine safety & quality Providing gas & services that assure food quality and conservation Developing Economies Accompanying the growth of developing economies by: Supporting the growth of domestic industrial demand Investing in industrial infrastructure to achieve parity with developed countries High Tech & Urbanization Facilitating the development of modern cities by: Encouraging sustainable technologies in transportation Contributing to energy efficient lighting technologies Using knowledge & technologies to access new markets related to urban development June 2013

New medical gases offers for hospitals Geographic expansion Innovation Takeo Offer 2010-2013 new organizations ~100,000 cylinders in 2 years Takeo: France, Chile, Spain, Italy, Australia, Switzerland, Portugal, Germany, Brazil (in process), Argentina (in process), UK (in process), Belux (in process) We have generated growth by opening 9 divisions in Asia, Europe and South America in three years. Geographic expansion: Russia, Switzerland, Singapore, Taiwan, China, Egypt, Finland, Norway, Chile. Easy to use for healthcare professionals Global deployment ( already 12 countries) Air Liquide patents INVESTOR DAY // December 11, 2013 // Air Liquide, world leader in gases for industry, health and the environment