Fourth Quarter 2023 Earnings Report

Fourth-Quarter Adjusted Results() Linde ($MM) 4Q 2023 3Q 2023 Var 4Q 2022 Var YOY SEQ. Sales Growth + 5% +2% Sales $8,302 $8,155 2% $7,899 5% Volume - - 1% Operating Profit $2,272 $2,306 -1% $2,001 14% Price / Mix +4% +1% % of Sales 27.4% 28.3% 25.3% Cost pass-thru -3% +1% Currency +2% - 1% Income $1,753 $1,783 -2% $1,574 11% Acq / Div +1% -- Diluted EPS $3.59 $3.63 -1% $3.16 14% Engineering +1% Op. Cash Flow $2,727 $2,520 8% $2,095 30% +2% ■ Broad-based price attainment & continued progress on productivity initiatives ◉ Capex $1,151 $948 21% $936 23% Operating margins ex. cost pass-thru (bps) YOY Seq. Base Capex (2) $705 $597 18% $663 6% Americas +100 +30 APAC +100 +10 Project Capex(3) $446 $351 27% $273 63% EMEA +350 -60 Consolidated +130 -80 After-Tax ROC 25.4% 25.6% -20 bps 22.9% +250 bps (1) Results other than Sales, Operating Cash Flow and Capex are Non-GAAP measures - see Appendix (2) Represents capex in small growth, maintenance and other non-project capex related investments (3) Capex for projects > $5mm with a long-term customer supply agreement and incremental growth ■ ARS deval. negative impact $30mm, $20mm int. expense and $10mm operating profit ▪ EPS $3.59, YoY +14% ■ Strong operating cash, YoY +30% " $8.5 billion project backlog 6

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