Q1 2018 Performance – Air Liquide APPENDICES Currency, energy and significant scope impacts (Quarter) Applied method In addition to the comparison of published figures, financial information is given excluding currency, natural gas and electricity price fluctuation and significant scope impacts.  Since industrial and medical gases are rarely exported, the impact of currency fluctuations on activity levels and results is limited to euro translation impacts with respect to the financial statements of subsidiaries located outside the euro zone. The currency effect is calculated based on the aggregates for the period converted at the exchange rate for the previous period.  In addition, the Group passes on variations in the cost of energy (electricity and natural gas) to its customers via indexed invoicing integrated into their medium and long-term contracts. This indexing can lead to significant variations in sales (mainly in the Large Industries Business Line) from one period to another depending on fluctuations in prices on the energy market. An energy impact is calculated based on the sales of each of the main subsidiaries in Large Industries. Their consolidation allows the determination of the energy impact for the Group as a whole. The foreign exchange rate used is the average annual exchange rate for the year N-1. Thus, at the subsidiary level, the following formula provides the energy impact, calculated for natural gas and electricity respectively: Energy impact = Share of sales index to energy year (N-1) x (Average energy price over the year (N) - Average energy price over the year (N-1)) This indexation effect of electricity and natural gas does not impact the operating income recurring.  The significant scope effect corresponds to the impact on sales of all acquisitions or disposals of a significant size for the Group. These changes in scope of consolidation are determined: - for acquisitions during the period, by deducting from the aggregates for the period the contribution of the acquisition, - for acquisitions during the previous period, by deducting from the aggregates for the period the contribution of the acquisition between January 1 of the current period and the anniversary date of the acquisition, - for disposals during the period, by deducting from the aggregates for the previous period the contribution of the disposed entity as of the anniversary date of the disposal, - for disposals during the previous period, by deducting from the aggregates for the previous period the contribution of the disposed entity. Consolidated Q1 2018 revenue includes the following impacts: Q1 Q1 2018/2017 Significant 2018/2017 Q1 Published Currency Natural Electricity scope Comparable (in millions of euros) 2018 Growth impact gas impact impact impact Growth Revenue Group 5,010 -3.2% (422) (14) (2) (35) +6.0% Impacts in % -8.2% -0.3% -0.0% -0.7% Gas and Services 4,831 -4.3% (413) (14) (2) (35) +5.0% Impacts in % -8.3% -0.3% -0.0% -0.7% PAGE 10/11