Exhibit 99.1

Praxair Reports Record Earnings and Cash Flow for Full-Year 2013

• Fourth-quarter sales of $3.0 billion, 8% above prior-year quarter; EPS $1.59; adjusted EPS of $1.55, up 12%*
• Full-year sales of $11.9 billion, up 6% from 2012; EPS $5.87; adjusted EPS of $5.93, up 6%*
• Record full-year operating cash flow of $2.9 billion
• Completed three world-scale hydrogen plants with long-term customer supply agreements, increasing global hydrogen capacity by 40% to 1.4 billion scfd
• 8% dividend increase; 21^st consecutive annual increase; new share repurchase program authorized for $1.5 billion
• Full-year 2014 EPS guidance of $6.25 to $6.55; up 5% to 10%*
• First-quarter 2014 EPS guidance of $1.48 to $1.53, up 7% to 11%*

DANBURY, Conn.--(BUSINESS WIRE)--January 29, 2014--Praxair, Inc. (NYSE:PX) reported fourth-quarter net income and diluted earnings per share of $474 million and $1.59, respectively. These results include an income tax benefit and bond redemption charge. Excluding these items, adjusted net income and diluted earnings per share were $462 million and $1.55, 12% above the prior-year quarter.*

Sales in the fourth quarter were $3,010 million, 10% above the prior-year quarter excluding currency translation effects. Organic sales increased 7% with growth across all geographic segments due primarily to energy, metals, chemicals and manufacturing markets. Acquisitions in North America and Europe contributed 3% growth in the quarter. Sales were steady sequentially from the third quarter due primarily to higher price offset by seasonally lower volumes.

Operating profit in the fourth quarter was $690 million, 12% above the prior-year quarter. The increase was driven by volume growth, higher pricing and acquisitions, partially offset by negative currency translation effects. Operating profit as a percentage of sales was a record 22.9%.

Fourth-quarter cash flow from operations was a record $964 million. Cash flow funded $516 million of capital expenditures, largely for new production plants under long-term contracts with customers, $177 million of dividends and $86 million of stock repurchases, net of issuances.

For full year 2013, reported net income was $1,755 million and reported diluted earnings per share was $5.87. On an adjusted basis, full-year net income was $1,772 million and diluted earnings per share was $5.93, 5% and 6% above the prior year, respectively.*

Full-year sales were $11,925, 8% above 2012, excluding negative currency translation. Growth was driven by stronger volumes, higher pricing and acquisitions. Reported operating profit was $2,625 million. Adjusted operating profit of $2,657 million was 8% above 2012, excluding negative currency translation.*

For the full year, cash flow from operations was a record $2,917 million, about 25% of sales. Capital expenditures were $2,020 million. The company invested $1,323 million in acquisitions, including the NuCO₂ micro-bulk carbon dioxide business in the United States, Dominion Technology Gases and several U.S. packaged gas distributors. The company paid dividends of $708 million and repurchased $436 million of stock, net of issuances. The Debt-to-capital ratio was 54.3% and debt-to-adjusted EBITDA was 2.2x. After-tax return on capital and return on equity for the year were 12.8% and 28.6%, respectively.*

Commenting on the financial results and business outlook, Chairman, President and Chief Executive Officer Steve Angel said, “In 2013, Praxair delivered record operating cash flow of $2.9 billion that represented about 25% of sales. Sales and earnings grew 8%, excluding negative currency translation effects, in a global economy that has only shown modest recovery. Operating margin was a strong 22%. We completed three world-scale steam methane reformers for hydrogen supply to refineries under long-term contracts and quickly integrated the NuCO₂ U.S. beverage carbonation business which has exceeded our expectations in all areas, including growth and operating profit.

“In 2014, we expect the global economy to continue to grow at a modest pace, in-line with recent sequential trends. In Southern Europe volumes are stabilizing and with our industry-leading position in North America we remain well positioned to continue to take advantage of the attractive fundamentals for the energy, manufacturing and materials industries. In Brazil, growth should be positive, although uneven, given ongoing macroeconomic challenges. We expect strong cash flow generation to fund new projects and return cash to shareholders in the form of dividends and share repurchases.”

For full year 2014, Praxair expects sales in the range of $12.3 billion to $12.8 billion. This sales guidance assumes a negative currency impact of about 3% versus 2013 based on current exchange rates. The company expects diluted earnings per share to be in the range of $6.25 to $6.55, up 5% to 10% from 2013.* Full-year capital expenditures are expected to be in the range of $1.8 billion to $2.0 billion, and the effective tax rate is forecasted to remain at about 28%.

For the first quarter of 2014, Praxair expects diluted earnings per share in the range of $1.48 to $1.53, up 7% to 11%.*

Following is additional detail on fourth-quarter 2013 results by segment.

In North America, fourth-quarter sales were $1,567 million, up 11% from the prior-year quarter. Organic sales growth of 6% was driven by strong growth in the energy end market, primarily driven by hydrogen project start-ups for refinery customers. The acquisitions of NuCO₂ and packaged gas distributors contributed 5% growth. Operating profit of $393 million grew 7% from the prior year primarily due to higher volumes from project start-ups, acquisitions and higher price.

In Europe, fourth-quarter sales were $404 million, 11% above the prior-year quarter. Excluding currency, sales were 7% above prior year. Acquisitions contributed 5% growth, primarily Dominion Technology Gases. Organic sales were 2% above the prior-year quarter due to higher volumes including project start-ups and higher pricing. Operating profit of $75 million increased 25% versus the prior-year quarter, with strong operating leverage from price and cost management actions.

In South America, fourth-quarter sales were $481 million, 1% below the prior-year quarter. Underlying sales, excluding negative currency translation, grew 9%, with growth in most end markets. Operating profit was $115 million versus $92 million in the prior-year quarter due primarily to improved volumes and higher pricing.

Sales in Asia were $394 million in the quarter, 5% above the prior year, driven by strong growth in on-site and merchant volumes due to project start-ups. Operating profit was $80 million as compared to $69 million in the prior year.

Praxair Surface Technologies had fourth-quarter sales of $164 million, compared to $162 million in the prior-year quarter. Sales grew 1% as favorable pricing was partially offset by weaker volumes of aviation coatings. Operating profit was $27 million.

About Praxair

Praxair, Inc., a Fortune 250 company with 2013 sales of $12 billion, is the largest industrial gases company in North and South America and one of the largest worldwide. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and many others. More information about Praxair, Inc. is available at www.praxair.com.

*See the attachments for calculations of non-GAAP measures. Non-GAAP adjustments for 2013 relate to the impact of the first-quarter Venezuela currency devaluation charge, third-quarter pension settlement charge and fourth-quarter income tax benefit and bond redemption charge. Non-GAAP adjustments for 2012 relate to the third-quarter cost reduction charges, a pension settlement charge and an income tax benefit.

Attachments: Non-GAAP Reconciliations, Statements of Income, Balance Sheets, Statements of Cash Flows, Segment Information, Quarterly Financial Summary and Appendix: Non-GAAP Measures.

A teleconference on Praxair’s fourth-quarter results is being held this morning, January 29, at 11:00am Eastern Time. The number is (617) 399-3483 -- Passcode: 81692350. The call also is available as a web cast live and on demand at www.praxair.com/investors. Materials to be used in the teleconference are also available on the website.

This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s reasonable expectations and assumptions as of the date the statements are made but involve risks and uncertainties. These risks and uncertainties include, without limitation: the performance of stock markets generally; developments in worldwide and national economies and other international events and circumstances; changes in foreign currencies and in interest rates; the cost and availability of electric power, natural gas and other raw materials; the ability to achieve price increases to offset cost increases; catastrophic events including natural disasters, epidemics and acts of war and terrorism; the ability to attract, hire, and retain qualified personnel; the impact of changes in financial accounting standards; the impact of changes in pension plan liabilities; the impact of tax, environmental, healthcare and other legislation and government regulation in jurisdictions in which the company operates; the cost and outcomes of investigations, litigation and regulatory proceedings; continued timely development and market acceptance of new products and applications; the impact of competitive products and pricing; future financial and operating performance of major customers and industries served; the impact of information technology system failures, network disruptions and breaches in data security; and the effectiveness and speed of integrating new acquisitions into the business. These risks and uncertainties may cause actual future results or circumstances to differ materially from the projections or estimates contained in the forward-looking statements. Additionally, financial projections or estimates exclude the impact of special items which the company believes are not indicative of ongoing business performance. The company assumes no obligation to update or provide revisions to any forward-looking statement in response to changing circumstances. The above listed risks and uncertainties are further described in Item 1A (Risk Factors) in the company’s Form 10-K and 10-Q reports filed with the SEC which should be reviewed carefully. Please consider the company’s forward-looking statements in light of those risks.