Fourth Quarter 2023 Earnings Report

2023 Capital Management Operating Cash Flow Trend ($B) ■ 2022 ■ 2023 $2.6 $2.7 $2.5 $2.0 $2.1 $2.2 $1.9 $2.1 1Q 2Q 3Q 4Q 2023 full-year $9B+ (YoY +5%) Business Investment $4.7B Linde Cash Outflows ~$11B Base Capex(1) $2.5B Secured Growth (2) $2.2B Net Share Buybacks $3.9B Dividends $2.5B Reinvesting in the business & rewarding shareholders (1) Represents capex in small growth, maintenance and other non-project capex related investments (2) Represents project capex plus acquisitions Return to Shareholders $6.4B 7

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