LINLinde plc

Linde has substantial international operations which are subject to risks including devaluations in currency exchange rates, transportation delays and interruptions, political and economic instability and disruptions, restrictions on the transfer of funds, trade conflicts and the imposition of duties and tariffs, import and export controls, changes in governmental policies, labor unrest, possible nationalization and/or expropriation of assets, changes in U.S. and non-U.S. tax policies and compliance with governmental regulations.

The occurrence of catastrophic These events or natural disasters such as extreme weather, including hurricanes and floods; health epidemics; pandemics, such as COVID-19; and acts of war or terrorism, could disrupt or delay Linde’s ability to produce and distribute its products to customers customers, result in asset impairments, and could potentially expose Linde to third-party liability claims.

In addition, many of Linde’s customers are in businesses that are cyclical in nature, such as the chemicals, chemicals and energy, and metals and energy industries. mining end markets.

Linde may be subject to information technology system failures, network disruptions and cybersecurity breaches in data security. or other related incidents.

Linde relies on information technology systems and networks networks, including systems that utilize advanced technologies for business and operational activities, and also stores and processes sensitive business and proprietary information in these systems and networks.

Future acquisitions or dispositions could result in the incurrence of debt, contingent liabilities or amortization expenses, or impairments of goodwill, goodwill or other intangible assets, any of which could adversely impact Linde’s financial results.

(Millions of dollars, except per share data) 2025 2024 2023 Variance Year Ended December 31, Reported Amounts Sales $33,986 $33,005 $32,854 —% 3% Cost of sales, exclusive of depreciation and amortization $17,389 $17,143 $17,492 (2)% As a percent of sales 51.9% 53.2% Selling, general and administrative $3,337 $3,295 1% As a percent of sales 51.2% 51.9% Selling, general and administrative $3,433 $3,337 3% As a percent of sales 10.1% 10.0% 10.1% Depreciation and amortization $3,763 $3,780 $3,816 (1)% —% Cost reduction program and other charges (a) $273 $145 $40 263% 88% Other income (expense) - net $(58) $185 $(41) 551% (131)% Operating profit $8,923 $8,635 $8,024 8% 3% Operating margin 26.3% 26.2% 24.4% Interest expense - net $255 $256 $200 28% —% Net pension and OPEB cost (benefit), excluding service cost $(229) $(190) $(164) 16% 21% Effective tax rate 22.4% 23.4% 22.7% Income from equity investments $150 $170 $167 2% (12)% Noncontrolling interests $(160) $(172) $(142) 21% (7)% Net Income – Linde plc $6,898 $6,565 $6,199 6% 5% Diluted earnings per share $14.61 $13.62 $12.59 8% 7% Diluted shares outstanding 472,195 482,092 492,290 (2)% Number of employees 65,177 65,289 66,323 (2)% —% Adjusted Amounts (b) Depreciation and amortization $2,986 $2,857 5% Operating profit $10,137 $9,720 $9,070 7% 4% Operating margin 29.8% 29.5% 27.6% Net Income – Linde plc $7,772 $7,475 $6,989 7% 4% Diluted earnings per share $16.46 $15.51 $14.20 9% 6% Other Financial Data (b) EBITDA $12,836 $12,585 $12,007 5% 2% As percent of sales 37.8% 38.1% 36.5% Adjusted EBITDA $13,351 $12,819 $12,133 6% 4% As percent of sales 39.3% 38.8% 36.9%

Linde plc has established a European debt issuance program on May 11, 2020, and filed a base prospectus with the Luxembourg Stock Exchange, Exchange as supplemented, subsequently updated on May 8, 2025 and supplemented by the first supplement on August 21, 2025 and the second supplement on October 31, 2025, for a €15.0 €20.0 billion debt issuance program, program (or the equivalent in other currencies), under which Linde plc may offer debt securities.