Exhibit 99.1

Praxair Reports Record Full-Year 2012 Earnings and Cash Flow

• Full-year sales of $11.2 billion; adjusted diluted EPS of $5.57*
• Record full-year operating cash flow of $2.8 billion
• Fourth-quarter sales of $2.8 billion; diluted EPS of $1.38
• $2.6 billion project backlog at year-end; project development activity remains solid
• 9% dividend increase; 20^th consecutive annual increase
• Full-year 2013 EPS guidance of $5.85 to $6.10; up 5% - 10%*;
  First-quarter 2013 EPS guidance of $1.35 to $1.40

DANBURY, Conn.--(BUSINESS WIRE)--January 23, 2013--Praxair, Inc. (NYSE: PX) announced full-year 2012 reported net income of $1,692 million and reported diluted earnings per share of $5.61. On an adjusted basis, full-year net income was $1,681 million and diluted earnings per share was $5.57, 3% above the prior year.*

Full-year sales were $11,224, 5% above 2011 excluding negative foreign currency translation and cost pass-through effects.

Reported operating profit was $2,437 million. Adjusted operating profit was $2,502 million, compared to $2,469 million in the prior year.* The increase was driven by higher volumes, higher pricing and productivity, partially offset by currency translation effects. Operating profit in North America grew by 10%, but was largely offset by lower operating profit in Europe and South America.

For the full year, cash flow from operations was a record $2,752 million, up 12% from 2011. Capital expenditures, primarily for new production plants under long-term contracts with customers, were $2,180 million. The company invested $280 million in acquisitions, for seventeen North American packaged gas distributors and an industrial gas business in Russia. The company paid $655 million of dividends and repurchased $459 million of stock, net of issuances.

For the fourth quarter, net income and diluted earnings per share were $414 million and $1.38, as compared to adjusted amounts of $414 million and $1.36 in the prior-year quarter, respectively.*

Sales in the fourth quarter were $2,799 million, comparable to the prior-year, as higher price and acquisitions were offset by negative currency effects. Operating profit in the fourth quarter was $616 million versus $619 million in the prior-year quarter.*

Commenting on the financial results and business outlook, chairman and chief executive officer Steve Angel said, “In 2012, Praxair delivered record operating cash flow of $2.8 billion, which represented 25% of sales. We also achieved a record operating margin of 22.3%, which we achieved through global productivity gains as well as price attainment in most operating segments. Our industry-leading North American business achieved double-digit operating profit growth with strength across most end markets. These strong results were mitigated by recessions in Brazil and Europe, moderating growth in China, and significant currency translation headwinds.

“As we enter 2013, Praxair remains committed to driving performance in an uncertain economic environment. In addition, our backlog of large projects remains strong at $2.6 billion and new proposal activity remains solid. This backlog will contribute 4% to 6% growth in 2013, as the plants start up to supply on-site customers under long-term contracts.”

For the full year of 2013, Praxair expects sales in the area of $12 billion. The company expects diluted earnings per share to be in the range of $5.85 to $6.10, up 5% to 10%.* Full-year capital expenditures are expected to be in the range of $1.8 to $2.0 billion, and the effective tax rate is forecasted to remain at about 28%.

For the first quarter of 2013, Praxair expects diluted earnings per share in the range of $1.35 to $1.40.

Following is additional detail on fourth-quarter 2012 results by segment.

In North America, fourth-quarter sales were $1,416 million, up 2% from the prior-year quarter. Sales grew to manufacturing, energy, and metals markets, partially offset by declines in electronics. Operating profit of $367 million grew 4% from the prior year due to price and productivity.

In Europe, fourth-quarter sales were $363 million, 5% below the prior-year quarter primarily due to the negative impact of currency translation. Operating profit was $60 million in the quarter, as compared to $64 million in the prior-year quarter primarily due to negative currency effects.

In South America, fourth-quarter sales were $484 million, 9% below the prior-year quarter. Operating profit was $92 million as compared to $118 million in the prior-year period. The lower sales and operating profit as compared to the prior year were due primarily to negative currency effects.

Sales in Asia were $374 million in the quarter, up 12% from the prior year, driven by strong volume growth in India, China, and Korea, including new plant start-ups. Sales growth came primarily from metals and chemicals customers. Operating profit was $69 million as compared to $60 million in the prior year, due primarily to higher volumes.

Praxair Surface Technologies had fourth-quarter sales of $162 million, compared to $160 million in the prior-year quarter. Sales grew 3%, excluding negative currency effects, primarily from higher jet-engine and energy coatings. Operating profit increased to $28 million from $24 million in the quarter due primarily to price and productivity.

Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies are making the 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 others. More information on Praxair is available on the Internet at www.praxair.com.

*See the attachments for calculations of non-GAAP measures. Full-year 2012 results are adjusted to exclude cost reduction charges, a pension settlement charge and an income tax benefit. Fourth-quarter and full-year 2011 results are adjusted to exclude the Yara acquisition net gain and restructuring charges.

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 23, at 11:00 am Eastern Time. The number is (617) 597-5346 -- Passcode: 52650064. The call also is available as a web cast at www.praxair.com/investors. Materials to be used in the teleconference are also available.

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.