AIR LIQUIDE - myAL myShare 2025 |

1. THE OFFER MYAL MYSHARE 2025⁽¹⁾⁽²⁾

(hypothetical price: the real subscription price will be determined on October 29, 2025)

Reference price

Subscription price (-15%)

(1) L'Air Liquide S.A. is listed on the Paris stock exchange and is included in the CAC 40 index. It issues its shares in euros.
(2) For information, the exchange rate set by L'Air Liquide S.A. for the conversion of the subscription price into local currency is EUR 1 = USD 1.0541.

2. MY INVESTMENT

I would like to purchase

Total amount of my investment
(based on the subscription price)

Value of my portfolio at the time of subscription
(based on the reference price)

Saving at the time of subscription
(based on the reference price)

3. MY PAYMENT

I would like to pay for my subscription in full upfront

My 2025 estimated annual gross base pay is

My investment ceiling when paying in full upfront⁽³⁾

My total subscription amount

(3) The total of your voluntary payments to the IGSPP and your myAL myShare 2025 subscription cannot exceed the lower of 25% of my estimated gross annual remuneration for 2025 or USD 25,000.

I would like to pay for my subscription in several installments (12 monthly payments)

My net monthly pay is

My monthly investment ceiling when paying over 12 months⁽⁴⁾

My subscription amount per month
This amount will be paid each month through payroll deductions with no fees.

(4) If paying by payroll deductions, the number of Shares subscribed may not exceed an amount equal in value to USD 9,500 minus the amount of any other outstanding loans from your employer. Moreover, each installment payment made by payroll deduction may not exceed 10% of your net monthly salary for the relevant pay period. This ceiling may vary according to local regulations.

Focus on the first few years of your investment

2025:

Your shares are registered in your direct registered share account

2026:

You will receive the first dividend attached to the shares to which you have subscribed⁽⁵⁾

2028:

Your shares become eligible for the loyalty bonus (as of January 1) and your shares are unlocked in December

(5) Subject to approval by the General Meeting of Shareholders.

Please note before investing

Your investment tracks the Air Liquide share price performance

There is therefore a risk of loss of capital. However, the discount reduces the share purchase price compared with the market price and therefore has an amplifying effect in the event of an increase and a cushioning effect in the event of a decrease in the share price.
Note: if you are resident in a country located outside the Euro zone, there is an exchange rate risk. As Air Liquide is listed in euros on the Paris stock exchange, the value of your investment will vary according to exchange rate fluctuations between the euro and your currency across your investment period. Thus, if the euro appreciates against your currency, the value of the shares in your currency will increase. Conversely, if the euro depreciates against your currency, the value of the shares in your currency will decrease

Your investment is locked in for three years

However, early release clauses exist and details of these can be found in your country’s local supplement which can be obtained in the “Download documents” section of this website.

The foregoing is not a complete set of important risk factors. For a more extended discussion of these and other important risk factors, please see the “Risk Factors” section of the ESPP booklet sent to your home or email address. After the three-year lock-in period, you may keep your shares in the account opened in your name at Air Liquide or sell all or some of them whenever you wish, without paying any transaction fees.

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