11 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH Austin, Texas • 28th of October 2019Veronika Gronemann, Jason Holland • Global Syngas and Technology Conference

THIS DOCUMENT IS PUBLIC

Synergies in Air Liquide’s Syngas Technologies & Low Carbon Syngas Offer

22 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Agenda

1. Air Liquide Overview2. Syngas Technology Overview3. Syngas utilization: HP ATR based methanol4. Syngas utilization: OTF Gas Supply5. Conclusion

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1.Air Liquide Overview

44 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Air Liquide - One business, several activitiesThe Air Liquide business is founded on technical and scientific expertise in essential small molecules for life, matter and energy, as well as on recognized operational know-how. Today, around 67,000 employees are working toward the shared goal of the Group’s sustainable development, driven by a true entrepreneurial spirit and the unrelenting desire for innovation that better serves our customers.

Air Liquide’s value creation model works by integrating and sharing our industrial assets.

This efficient industrial system brings Air Liquide closer to its customers so that it can anticipate their needs and offer them innovative solutions. The Group currently serves more than 3 million customers and patients from a wide range of sectors.

Refining/Steel/Chemicals/Energy Refining Steel Chemicals

Materials& Energy

Automotive & Manufacturing

Food & Pharmaceuticals

Professionals& Retail

Technology& Research

Specialtyingredients

Hygiene

Homehealthcare

Medicalgases

Flat panels

Photovoltaic

Semi-conductors

Maritime

Advanced technologies

Energytransition

~67,000

EMPLOYEES (1)

Revenue€ 18.1

BILLION (2)

Net profit€ 1.844

BILLION

More than3 MILLION

CUSTOMERS& PATIENTS

Present in80

COUNTRIES

~67,000

EMPLOYEES (1)

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Air Liquide climate objectives

A globalapproach

Reduce our carbon intensity in 2025 vs. 2015 by

Act for clean industry by developing low-carbon solutions

Contribute to a new low-carbon society

CUSTOMERS

ASSETS

ECOSYSTEMS

-30%

A

C

E

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2.Syngas Technology Overview

77 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Air Liquide Hydrogen and Syngas Techno Portfolio

CO2

COCold Box

Membrane

H2 Liquifier

& O2

88 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Superior Syngas Solutions - Track Record

8

Lurgi Steam Reformer

● More than 145 Steam Reformer plants built

Lurgi Autothermal Reforming

● More than 30 Autothermal Reformer built

Lurgi POX Plants

● More than 30 POX plants built with more that 100 reactors (1)

The complete choice

● With GasPOX, Steam Reforming, Autothermal Reforming and combinations thereof we can offer ALL S/C ratios and ALL capacities

Feed

O2/Steam ↓

↓

Sat. HP-Steam

➔

➔

Syngas

Burner

Syngas

Natural Gas

1) Includes Lurgi MPG®, Lurgi Gas POx , Shell licensed references

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3.Syngas utilization: HP ATR based methanol

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Today: Lurgi MegaMethanol™ 10,000 mtpd methanol capacity at the US Gulf Coast

Texas: Natgasoline - October 2018 Louisiana: YCI-M1 - January 2019ASUAir Liquide

Air Liquide: Technology Licensor, Engineering Partner and ASU Investor

ASUAir Liquide

ASUAir Liquide

1111 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Purification

Steam Reforming

Autothermal Reforming

Methanol Reactors

Methanol Distillation

Air Separation

Natural Gas

Pure Methanol

Air

Oxy

gen

Purge Gas

Process Steam

Purification

Autothermal Reforming

Methanol Reactors

Methanol Distillation

Air Separation

Natural Gas

Pure Methanol

Air

Oxy

gen

Purge Gas

Process Steam

Flue Gas Duct Fired Heaters

PSA PSA

Tomorrow: HP ATR based MegaMethanol Plant 10,000 mtpd methanol capacity in a single train

1212 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Combined Reforming based MegaMethanol Plant

HP ATR based MegaMethanol Plant

Production MTPD 5 000 5 000

Specific NG ConsumptionGJ/MT (mmBTU/MT) - LHV 30.1 (28.7) 30.1 (28.7)

Number of Reformer Tubes# 288 (1) -

Amount of Oxygen FlowMTPD 2 200 (1) 3 350 (1)

Synthesis Compression DutyMW 29.6 (2 compressors) 8.9 (1 compressor)

Utility concept Self sufficient Self sufficient

CAPEX 100% 90-95%

Comparison of Combined Reforming and HP ATR based MegaMethanol Plant

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4.Syngas Utilization:OTF Gas Supply

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Air Liquide Global Footprint

14

● Global Owner Operator ○ Air Liquide Group operates more than 90 Hydrogen, Syngas and CO Production Plants

● Markets catered to include,○ Refineries, Chemicals (Isocyanates, acetic acid, oxo-alcohols, polycarbonate, nylons, H2O2, NH3 and

others), Metals, Electronics

Singapore

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What outsourcing means...

H2/CO/Syngas/Steam

Feedstock/Utilities Supplied by 3rd party or customers

Feedstock

Utilities

Electricity or O2 / N2

CUSTOMERAIR LIQUIDE

Air Liquide will ● build, own, operate and maintain the plants, and ● sign a long-term contract (15-20 yrs) to supply products to customer through pipelines

1616 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Avoided CO2 emissions A new driver for Syngas/H2 production costs? “ ”

Steam Reforming

Biogas

Water + Renewable Electricity

Electrolysis

COS*Fossil Feed

Air Liquide is committed to

produce at least 50% of its

Hydrogen for energy

markets without CO2

emissions by 2020. This is

the Group’s “Blue Hydrogen”

initiative.

16

*CO Shift

1717 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Air Liquide Low Carbon Offering Cryocap (HYCO Only) Up to a 60% reduction in CO2 emissions

Absorption Systems (Amine)

Retrofit SMRs to SyngasUp to 60% emissions reduction

CO Coldbox (HYCO Only) ~40-90% footprint reduction

Power Purchase Agreement Menard County Wind Farm

1818 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

Carbon Capture on Syngas/H2 Production Unit

PSA

ShiftNatural Gas

H2/SYG/CO

Fuel Gas System ~60% of CO2

emissions

Solution 1: Amine Unit

(aMDEA)

Solution 2: Cryocap™

Solution 3: Amine Unit

(MEA)~100% of CO2 emissions

CO+ H2O-> CO2+H2

Steam Methane Reformer

Shift

~40% of CO2 emissions

18

1919 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

5.Conclusion

2020 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH 20

Conclusion

Technology+

Operations

reliableefficient

cost-effective

Solutions

Customer

Low Carbon World

2121 October 2019 AIR LIQUIDE, A WORLD LEADER IN GASES, TECHNOLOGIES AND SERVICES FOR INDUSTRY AND HEALTH

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