Air Liquide Finance Announces Pricing of Cash Tender Offers for Two Series of USD Notes

Regulatory News:

Air Liquide (Paris:AI):

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT

Air Liquide Finance (the "Offeror") announces today the pricing of its previously announced offers to purchase for cash: (i) its outstanding 2.500% Notes due 2026; and (ii) its outstanding 3.500% Notes due 2046 (collectively, the "Notes" and such offers, the "Tender Offers", and each, a "Tender Offer").

The Offeror is making two separate Tender Offers, each on the terms and subject to the Conditions set forth in the offer to purchase dated March 15, 2023 (the "Offer to Purchase"), as amended by the early results announcement dated March 29, 2023. The Offer to Purchase is available, subject to eligibility confirmation and registration, from the Tender Offers Website: https://www.gbsc-usa.com/airliquide/. Capitalized terms used in this announcement and not otherwise defined have the meanings ascribed to them in the Offer to Purchase.

The "Total Consideration" for each $1,000 principal amount of Notes tendered and accepted for purchase pursuant to the applicable Tender Offers was determined in the manner described in the Offer to Purchase by reference to the sum of (i) the applicable Reference Yield on the Reference U.S. Treasury Security and (ii) the applicable Fixed Spread for each series of Notes, all as set out in the table below and as further described in the Offer to Purchase. The Reference Yield for each series of Notes was calculated at 10:00 a.m., New York City time, today, March 29, 2023.

Holders of Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Time and accepted for purchase by the Offeror will receive the Total Consideration, which (when calculated from the applicable Reference Yield and Fixed Spread) already includes an Early Tender Payment of $50 per $1,000 principal amount of such Notes, together with accrued and unpaid interest from the last interest payment date for the Notes up to, but excluding, the Early Settlement Date, which is currently anticipated to be March 31, 2023.

Additionally, the Offeror has announced today that the Early Tender Payment of $50 per $1,000 principal amount of Notes shall apply to Notes validly tendered from the date hereof to at or before the Expiration Time of 11:59 p.m., New York City time, on April 11, 2023.

The following table sets forth certain pricing information for the Tender Offers:

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