Fourth Quarter 2023 Earnings Report

5-Year Total Shareholder Return() (TSR) 12/31/18 to 12/31/23 Linde +185% Competitor 1 +118% Competitor 2 +92% S&P 500 +107% 2019 LIN vs S&P500 +7.6% Index TSR (Dec. 31, 2018 = 100) 2020 +7.5% 2021 +4.7% 2022 +13.7% Linde 2023 +1.4% Linde, one of only 12 members in S&P500 (and only in sector) with positive alpha 5 consecutive years Source: Competitor filings and Factset (1) Measures change in stock price plus dividends paid A company for all seasons 5

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