World-Leading Hydrogen Supplier's Latest Commitment Further Supports Canada's 
Climate and Energy Goals and 5,000 Hydrogen Vehicle Challenge

LEHIGH VALLEY, Pa., April 23, 2024 /PRNewswire/ -- Air Products (NYSE:APD) today announced it intends to build a network of permanent, commercial-scale multi-modal hydrogen refueling stations stretching from Edmonton to Calgary, Alberta, Canada.

"With abundant resources, tremendous talent, and forward-thinking governments, Canada is driving the clean energy transition forward," said Seifi Ghasemi, Air Products' Chairman, President and Chief Executive Officer. "Last year, Air Products announced our continued investment in Western Canada with the first permanent, commercial-scale hydrogen refueling station in Alberta. Today, we build on that commitment with plans to build additional commercial-scale multi-modal hydrogen refueling stations, developing a hydrogen highway connecting Alberta's two largest cities and enabling the continued development of the region's hydrogen ecosystem."

The permanent, multi-modal hydrogen refueling stations will be equipped to serve heavy-duty vehicles, such as commercial and municipal trucks and buses, as well light-duty hydrogen fuel cell cars. The stations will be along the Queen Elizabeth II Highway that runs through Calgary and Edmonton, providing a fueling experience and speed that is similar to gasoline or diesel. This hydrogen infrastructure will help Western Canada reach a goal of 5,000 hydrogen or dual fuel vehicles on the road in five years.

"Each of our state-of-the-art, high-capacity, high-reliability stations will be able to fuel up to 200 heavy-duty trucks or 2,000 cars per day," noted Rachel Smith, vice president and general manager, Air Products Canada. "In Canada, hydrogen is essential to decarbonizing transportation where heavy-duty vehicles travel long distances in extreme temperatures. We are excited to be activating Canada's first hydrogen corridor here in Alberta."

The first of Air Products' permanent hydrogen refueling stations, located in Edmonton, near the site of the Company's landmark net-zero hydrogen energy complex that is under construction, is scheduled to be onstream in 2025. Currently, Air Products has placed a temporary, hydrogen mobile fueler on the site that is supplying customers. The permanent Edmonton hydrogen refueling station is supported in part by $1 million (CAD) in funding from Natural Resources Canada's Zero Emission Vehicle Infrastructure Program.

Hon. Jonathan Wilkinson, Minister of Energy and Natural Resources Canada, said, "The development and deployment of hydrogen presents an enormous economic and environmental opportunity for Canadians. The federal government is prepared to seize this opportunity, and today's announcement by Air Products shows that Canadian companies and innovators are also continuing to lead the way on hydrogen. I congratulate Air Products on today's exciting announcement. Together, we will continue to establish Canada as a leading producer and supplier of hydrogen on our path to net-zero by 2050."

Hon. Danielle Smith, Premier of Alberta, said, "Hydrogen is a fuel of the future and our government is fully on-board with efforts to pursue early adoption of hydrogen technology. I'm thrilled that Air Products is working toward development of a hydrogen highway between Edmonton and Calgary. This will help grow Alberta's hydrogen ecosystem and spur on additional interest, investment, and progress in the hydrogen space."

Hon. Dale Nally, Minister of Service Alberta and Red Tape Reduction, said, "This is exciting news and a great leap forward in growing the use of hydrogen as a transportation fuel in Alberta. By adding hydrogen fueling infrastructure along Alberta's busiest transportation corridor, Air Products is helping to clear the way for hydrogen-powered vehicles as a viable clean alternative to EVs. Alberta's government knows hydrogen has the potential to be a major source of clean energy here at home and around the world, and today's announcement is helping to turn that vision into reality."

Jim Wood, Mayor of Red Deer County, said, "Red Deer County takes pride in supporting trucking and logistics; we are excited that future trucks driving along the QE2 will have easy access to a clean alternative energy fuel source."

Malcolm Bruce, CEO of Edmonton Global, said, "Air Products' bold initiative to build a network of multi-modal hydrogen refueling stations between the Edmonton region and Calgary marks a significant leap forward in Canada's clean energy journey and the 5,000 Hydrogen Vehicle Challenge. Announcements like these will help us in reaching our goal of having 5,000 hydrogen or dual-fuel vehicles on the road in Western Canada in five years. By connecting our two largest cities with this hydrogen highway, we're not just fostering innovation; we're catalyzing a sustainable future. This investment underscores our shared commitment to advancing green technologies and propelling Alberta to the forefront of the hydrogen revolution. Canada's path to net-zero truly runs through the Edmonton region."

In addition, Air Products has a hydrogen mobile fueler at the Edmonton International Airport to provide hydrogen for the airport's fleet of Toyota Mirai hydrogen fuel cell vehicles as well as a mobile fueler located on Aurum Road ready to serve the broader Edmonton market.

As the world's largest supplier of hydrogen, Air Products has hands-on operating experience with over 250 hydrogen fueling station projects in 20 countries and the company's technologies are used in over 1.5 million fueling operations annually.

Air Products Canada

Air Products currently operates three hydrogen production facilities in Alberta, and a 55-kilometer hydrogen pipeline in the Alberta Industrial Heartland. The company also operates a hydrogen production facility, a 30-kilometer pipeline network and a liquefaction facility in Sarnia, Ontario.

Air Products is building a net-zero hydrogen energy complex in Edmonton using advanced process technology that enables the cost-effective capture of more than 90 percent of carbon emissions for permanent sequestration safely underground. The new complex also includes a world-scale hydrogen liquefaction facility to accelerate the use of hydrogen as an emission-free transportation fuel across western Canada. In addition, to avoid the indirect emissions associated with using grid electrical power, the project includes a 100 percent hydrogen-fueled power generation unit that has the capability to export clean power to Alberta's grid.

The complex will be integrated with neighboring Imperial Oil Limited's new renewable diesel facility. Imperial will produce renewable diesel from locally sourced non-petroleum feedstocks, using a process that produces a biogenic renewable off-gas (ROG) by-product. This ROG will be used as a feedstock within the Air Products hydrogen complex, displacing natural gas and further enhancing the overall carbon emissions profile. The combination of utilizing a renewable feedstock and power export more than offset any emissions not directly captured to produce hydrogen on a net-zero basis.

The net-zero facility also will be connected to Air Products' hydrogen pipeline network in the Alberta Heartland to support refining and petrochemical customers in reducing the carbon intensity of their operations and products.

About Air Products

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects supporting the transition to low- and zero-carbon energy in the heavy-duty transportation and industrial sectors. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and provides turbomachinery, membrane systems and cryogenic containers globally.

The Company had fiscal 2023 sales of $12.6 billion from operations in approximately 50 countries and has a current market capitalization of about $60 billion. Approximately 23,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking  statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions, or circumstances upon which any such forward-looking statements are based.

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