Air Liquide – Q1 2018 Performance  In March, Air Liquide inaugurated a new hydrogen station near Versailles in France. This station will fuel two hydrogen-powered buses, scheduled for rollout in 2019, and the Paris hydrogen taxi fleet “Hype” which is developing rapidly with 75 hydrogen-powered vehicles and plans to deploy a total of 200 by the end of 2018. This is the third hydrogen station that has been installed by Air Liquide in the Greater Paris Area.  Since the beginning of 2018, Air Liquide has commissioned three new biomethane production units, in the United States, in France, and in the United Kingdom. With these units, Air Liquide has doubled its biomethane production capacity, which now stands at 60 MW, the equivalent of 500 GWh for a full year of production. Over the course of the last four years, the Group has decided around 100 million euros in investments in biomethane production. Today, the Group operates 10 production units around the world, designed to purify biogas in order to transform it into biomethane and inject it into the natural gas network. BOND ISSUE  In March, Air Liquide successfully completed a first bond issuance on the Chinese mainland market (“Panda”) for an aggregate nominal amount of 2.2 billion Renminbi, approximatively 280 million euros, becoming one of the first European companies to issue on this market. This transaction bears coupons of 5.95% and 6.40% for a 3-year and a 5-year maturity respectively. The 5-year issuance, the longest maturity ever achieved by a European company on the Panda market, reflects the long-term dimension of the Group’s activities. The proceeds of this issue will be used to finance new investments in China and to refinance debt related to previous investments in China. Page 3/11