Adjusted Sales Used as a Comparison Basis (1/2) F Published growth (2) E Comparable growth As of st January 1 , 2016 A B C D Published Airgas Airgas Adjusted Published 2016 (1) consolidated divestments Air Liquide 2017 2016 (1) Excluding Air Liquide Welding and Aqua Lung (2) Excluding currency, energy price fluctuation and significant M&A impacts 15 February 2018 Full Year 2017 Results The world leader in gases, technologies and services for Industry and Health 32