Access your Shareholder Portal

I learn more about

Free Shares attribution

On June 10, 2026, Air Liquide will carry out its 33rd attribution of Free Shares. What does this operation consist of? What are my advantages? How are my fractional shares calculated? We explain it all to you.

Understanding Free Share attribution

What is the attribution of Free Shares?

Air Liquide generally carries out a Free Share attribution every two years. The next attribution will take place on June 10, 2026, and will consist of 1 Free Share allocated for every 10 shares held. These attributions are proposed by the Board of Directors and require the approval of the Shareholders at the Annual General Meeting. Free Shares receive the same rights (voting rights, dividends, and Loyalty Bonuses) as the shares held to receive them.

When does it take place?

The next attribution of Free Shares will take place on June 10, 2026.

Friday, June 5, 2026 will be the last day of execution of a buy order (stock market closing time) in order for your purchase to qualify for the Free Share attribution, which will take place on Wednesday, June 10, 2026.

Who will benefit?

All Air Liquide Shareholders, whether they hold their shares with Air Liquide (in direct registered form) or with their bank (in intermediary registered or bearer form).

How does the Loyalty Bonus apply when Free Shares are distributed?

Air Liquide's Loyalty Bonus rewards Shareholder loyalty.

To benefit from this program, all you have to do is hold Air Liquide registered shares:

either with Air Liquide (direct registered shares), or with a financial institution (intermediary registered shares)
for more than two full calendar years (from January 1 to December 31)
you are still the holder on the day the Free Shares are allocated

If these conditions are met, the shares you hold are eligible for the Loyalty Bonus which are applied to them without any action on your part. In particular, you benefit from a +10% bonus on the number of Free Shares allocated at the time of their distribution.

An example in a few figures

A shareholder holds 225 shares in his portfolio, 112 of which are eligible for the Loyalty Bonus (held in registered form for more than two full calendar years).

Free Share Allocation (1 Free Share for every 10 held)

For the 225 shares held:

Free Shares: 22 (220 ÷ 10)
+
Fractional shares: The remaining 5 shares are not enough to obtain a whole share. They generate a fractional share of 0.5 share.

The Loyalty Bonus (+10% in Free Shares on the number of Free Shares distributed)

For the 112 eligible shares:

Additional Free Share: 1 (i.e. 1 share for every 100 held)
+
Additional fractional share: The remaining 12 shares generate a fractional share of 0.12 share.

What is a fractional share?

As the attribution is based on a ratio of 1 Free Share for every 10 held, the calculation of the number of shares attributed often does not give a whole number. The value of the fraction of the share that cannot be distributed is called the "fractional share". You will receive the value of the fractional shares that cannot be distributed directly into your bank account.

How are fractional shares calculated?

Following the attribution, a balance of unallocated shares corresponding to the fractional shares remains.

These shares are sold on the market by the account holders. The result of this sale will define the average unit selling price of the shares sold. It is based on this average unit selling price that the fractional shares were paid out in June 2024 following the rules described below.

The value of fractional shares may differ from one financial institution to another.

Explanation of the calculation of the fractional share after the attribution of 1 Free Share for every 10 shares held	Explanation of the calculation of the fractional share after the attribution of 1 Free Share for every 100 shares held (loyalty bonus)
Average unit sale price of shares sold by the account holder / 10	Average unit sale price of shares sold by the account holder / 100

What is the associated taxation?

The compensation for fractional shares must be included in the total of the sales and is taxed as a total capital gain. This amount will appear as part of your sales on the tax reporting form if you hold your shares with Air Liquide (in direct registered form), which you will receive in 2026 as part of your 2025 income.

Your benefits are preserved

The Free Shares have the same characteristics as the shares from which they are issued:

Loyalty Bonus
Holding period
Voting rights
Dividend rights

Good to know The attribution of Free Shares is done on an account-by-account basis. Therefore if you own shares in an ordinary securities account and in a PEA, for example, there is no fungibility of fractional shares (you cannot add them to obtain a new free share). The attribution of Free Shares is also done account by account, so there is no fractional share fungibility for your "intermediary registered" shares and your "bearer" shares (here again, you cannot add them).

Going further

Viewing this video may result in cookies being placed by the vendor of the video platform to which you will be directed. Given the refusal of the deposit of cookies that you have expressed, in order to respect your choice, we have blocked the playback of this video. If you want to continue and play the video, you must give us your consent by clicking on the button below.

Free Share attribution helps your portfolio to grow Air Liquide has awarded free shares to all its Shareholders 10 times during the last 20 years.

Free Shares mean you have more shares and, therefore, more dividend rights. They allow your portfolio to grow over time. Each Free Share bears a dividend entitlement. This means you will receive additional dividends starting the year after the Free Share attribution. If you have held registered shares for more than two full years, they are eligible for the Loyalty Bonus.

This Loyalty Bonus entitles you to an additional 10% of free shares whenever they are awarded.

Let’s take an example.

The operation sees one Free Share attributed for every 10 held, and you own 35 shares.

Fractional shares cannot be awarded. If the number of shares you hold is not a multiple of the attribution transaction, the value of the fractional share that cannot be awarded will be paid directly into your bank account.

Free Shares have the same benefits as the shares they are derived from: Loyalty Bonus; voting rights; and dividend rights.

For more information, visit the Investors section of www.airliquide.com.

What is Free Shares allocation?

Air Liquide regularly allocates Free Shares to all its Shareholders, allowing you to increase your portfolio and your dividends. What is this allocation and how can you benefit from it? We’ll walk you throught it !
Viewing this video may result in cookies being placed by the vendor of the video platform to which you will be directed. Given the refusal of the deposit of cookies that you have expressed, in order to respect your choice, we have blocked the playback of this video. If you want to continue and play the video, you must give us your consent by clicking on the button below.

How does the Loyalty Bonus work?

Air Liquide thanks all its registered Shareholders:

those who hold direct registered shares with Air Liquide and those who go through a financial institution subject to having requested their conversion to intermediary registered shares.

How do you actually get the bonus?

Are you a registered Shareholder?

Have you held your shares for two full calendar years?

And do you still hold these shares on the dividend payment date and the day before the date of Free Share attribution in the event that they are awarded?

If so, you are eligible!

Air Liquide awards you a bonus of: 10% of the amount of dividends paid and 10% of the number of free shares in the event of attribution.

What do you need to do? Nothing.

If your securities account is with Air Liquide; you will qualify automatically!

If your securities account or share savings plan is with a bank, you must ask them to convert your securities into intermediary registered shares.

The Loyalty Bonus is not affected by gifts, hand-to-hand gifts or inheritance.

For more information, visit the Investors section of www.airliquide.com.

How does Loyalty Bonus work?

At Air Liquide, we reward the loyalty of our Shareholders who have held their registered shares for more than two full calendar years. To find out more, discover the third episode of our series "Act Now!”.