UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
March 1, 2022
Commission File Number 001-10888
TotalEnergies SE
(Translation of registrant’s name into English)
2, place Jean Millier
La Défense 6
92400 Courbevoie
France
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
TotalEnergies SE is providing on this Form 6-K a description of certain recent developments relating to its business.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TotalEnergies SE |
Date: March 1, 2022 | By: | /s/ Marie-Sophie Wolkenstein |
Name: | Marie-Sophie Wolkenstein | |
Title: | Company Treasurer |
EXHIBIT 99.1
PRESS RELEASE |
Uganda and Tanzania: launch of the Lake Albert Resources Development Project
Paris, February 1, 2022 – During a ceremony held in Kampala, in the presence of Yoweri Museveni, President of the Republic of Uganda, Philip Mpango, Vice-President of the United Republic of Tanzania, Patrick Pouyanné, Chairman and CEO of TotalEnergies, and representatives of the China National Offshore Oil Corporation (CNOOC), the Uganda National Oil Company (UNOC) and the Tanzania Petroleum Development Corporation (TPDC), the Lake Albert Development Project partners announced the final investment decision and the launch of this major project representing a total investment of approximately $10 billion.
The Lake Albert development encompasses the Tilenga and Kingfisher upstream oil projects in Uganda and the construction of the East African Crude Oil Pipeline (EACOP) in Uganda and Tanzania. The Tilenga project, operated by TotalEnergies, and the Kingfisher project, operated by CNOOC, are expected to start producing in 2025 and to reach a cumulative plateau production of 230,000 barrels per day. The upstream partners are TotalEnergies (56.67%), CNOOC (28.33%) and UNOC (15%). Production from the oil fields in Uganda will be transported to the port of Tanga in Tanzania through the EACOP cross-border pipeline, whose shareholders are TotalEnergies (62%), UNOC (15%), TPDC (15%) and CNOOC (8%).
All partners are committed to implementing these projects in an exemplary manner, taking into consideration the environmental and biodiversity stakes, as well as the rights of the concerned communities, in accordance with the stringent performance standards of the International Finance Corporation (IFC). In this context, the land acquisition program is currently underway, incorporating areas of improvement identified by independent third-party reviews performed after the first phase of this program led in 2018-2019.
Furthermore, TotalEnergies is committed to implementing action plans that will have a net positive impact on biodiversity as part of the implementation of these projects. In close liaison with the authorities and stakeholders concerned with nature conservation in Uganda and Tanzania, these action plans will be implemented in collaboration with neighboring communities and under the supervision of an independent institution.
" The development of Lake Albert resources is a major project for Uganda and Tanzania, and our ambition is to make it an exemplary project in terms of shared prosperity and sustainable development. We are fully aware of the important social and environmental challenges it represents. We will pay particular attention to use local skills, to develop them through training programs, to boost the local industrial sector in order to maximize the positive local return of this project," said Patrick Pouyanné, chairman and CEO of TotalEnergies. "With today's signing of a framework agreement on renewable energy, we are laying the foundation to implement our multi-energy strategy in Uganda and contribute to people's access to energy.”
This oil development is in line with TotalEnergies' strategy of only approving new projects if they are low-cost and low emissions. In particular, the design of the facilities incorporates several measures to limit greenhouse gas emissions well below 20 kg CO2eq/boe, including the extraction of Liquefied Petroleum Gas for use in regional markets as a substitute for burning biomass, and the solarization of the EACOP pipeline.
TotalEnergies and the Ugandan Ministry of Energy and Minerals also signed today a Memorandum of Understanding (MoU) for the development of renewable energy with the objectives of developing 1 GW of installed capacity, promoting access to electricity and clean energy, supporting national climate change objectives through the deployment of carbon footprint reduction projects.
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.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
EXHIBIT 99.2
PRESS RELEASE |
TotalEnergies and Veolia Join Forces to Accelerate the Development of Biomethane
Paris, February 02, 2022 – TotalEnergies and Veolia have signed an agreement to produce biomethane from Veolia waste and water treatment facilities operating in more than 15 countries.
The partners will develop and co-invest in a portfolio of international projects, with the ambition to produce up to 1.5 terawatt-hours (TWh) of biomethane per year by 2025. This production of renewable gas made from organic waste will be equivalent to the average annual natural gas consumption of 500,000 residents and will avoid some 200,000 tons of CO2 per year. TotalEnergies will market the resulting biomethane as a renewable fuel for mobility or as a substitute for natural gas in other uses.
As part of this agreement, the partners will pool their industrial know-how in biomethane production. Veolia will provide its expertise in the production and processing of biogas from its facilities, and TotalEnergies will contribute its in-depth knowledge of the entire biomethane value chain.
"We are pleased to partner with Veolia to promote the recovery of waste through the production of biomethane, and thereby the circular economy, one of the pillars of sustainable development," said Stéphane Michel, President Gas, Renewables & Power at TotalEnergies. "The development of biomethane is part of TotalEnergies' transformation into a broad energy company, and the deployment of its ambition to be a major player in renewables."
"Our partnership with TotalEnergies is in line with Veolia's strategy to develop solutions for decarbonizing the energy mix, notably with biogas, as part of an ecological transition," said Estelle Brachlianoff, Chief Operating Officer of Veolia. "At the global level, the biogas resources at our sites offer more than 6 terawatt hours of primary energy. With this biomethane production potential and our know-how in biogas management, Veolia intends to become a leading player in the value chain while developing more decentralized and local green energy production capacity."
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TotalEnergies and Biomethane
TotalEnergies is the segment leader in France, with close to 500 GWh of production capacity, and aims to become a major player in biomethane internationally by partnering with market leaders such as Clean Energy in the United States. The Company is active across the entire biomethane value chain, from project development to marketing of biomethane and its by-products (biofertilizers, bioCO2). It aims to
produce at least 2 TWh of biomethane per year by 2025 – equivalent to the annual consumption of 670,000 French consumers and a reduction in CO2 emissions of 400,000 tons.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +44 (0)207 719 7962 l ir@totalenergies.com
Veolia and biomethane
Veolia is now one of the world's largest producers of energy from biogas, with a primary energy resource of nearly 6 TWh. As a world leader in ecological transformation, Veolia aims to maximize the recovery of biogas in the form of biomethane and to expand its global resource base, in a circular economy approach. The Group's ambition is to become one of the leading players in the biomethane sector and to develop more green energy production capacity to help combat climate change.
About de Veolia
Veolia Group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 179,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2020, the Veolia group served 95 million inhabitants with drinking water and 62 million with sanitation, produced nearly 43 million megawatt hours and recycled 47 million tonnes of waste. Veolia Environment (Paris Euronext: VIE) achieved consolidated sales of 26.010 billion euros in 2020. www.veolia.com
Veolia Contacts
Group Press Relations: + 33 1 85 57 86 25 / 33 33 I presse.groupe@veolia.com
Investor Relations: + 33 1 85 57 84 76 / 84 80 I investor-relations@veolia.com
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
EXHIBIT 99.3
PRESS RELEASE |
Share capital decrease by way of treasury shares cancellation
Paris, February 9, 2022 – On February 9, 2022, the Board of Directors, under the conditions set forth at the Extraordinary Shareholders’ Meeting of May 26, 2017, decided to decrease the share capital of TotalEnergies SE by way of cancellation of 30,665,526 treasury shares representing 1.16% of the share capital. These shares were repurchased from November 8 to December 22, 2021.
After this cancellation of shares, the number of shares of TotalEnergies SE is 2,609,763,803, and the number of voting rights that can be exercised at the Shareholders’ Meeting is 2 769 135 419. The total number of voting rights attached to these 2,609,763,803 shares (referred to as ‘theoretical voting rights’) is 2 775 508 834, including the voting rights attached to the 6 373 415 treasury shares held by TotalEnergies SE, with a view to allocating them to share performance plans, and with no voting rights.
This transaction has no impact on the consolidated financial statements of TotalEnergies SE, the number of fully diluted weighted-average shares and the earnings per share.
____
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
EXHIBIT 99.4
PRESS RELEASE |
Fourth quarter and full-year 2021 results
TotalEnergies benefited from the very favorable fourth quarter environment and generated more than $15 billion of net cash flow in 2021
Paris, February 10, 2022 - The Board of Directors of TotalEnergies SE, meeting on February 9, 2022, under the Chairmanship of Chief Executive Officer Patrick Pouyanné, approved the Company's 2021 financial statements. On the occasion, Patrick Pouyanné said:
"In the fourth quarter, oil prices continued to rise, up 9% compared to the previous quarter, while gas prices in Europe and Asia, driven by increasing demand, hit all-time highs above $30/Mbtu and sent European power prices to record levels. In this context, TotalEnergies' multi-energy model demonstrated its ability to take full advantage of the very favorable environment, particularly in the LNG and electricity sectors, with adjusted net income of $6.8 billion and cash flow (DACF) of $9.8 billion.
In 2021, the Company generated cash flow of $30.7 billion, up $13 billion compared to 2020, and adjusted EBITDA of $42.3 billion. The Company reported adjusted net income of $18.1 billion, representing a return on equity of 16.9% and a return on capital employed (ROACE) of nearly 14% for 2021, which demonstrates the quality of its portfolio and operations. IFRS net income was $16 billion (€13.6 billion).
The integrated Gas, Renewables & Power (iGRP) segment reported adjusted net operating income of $2.8 billion and cash flow of $2.4 billion in the fourth quarter, bringing full-year results and cash flow to $6.2 billion and $6.1 billion, respectively. These historic results build on the globally integrated LNG portfolio, leveraging rising oil and gas prices and outperformance in the gas and LNG trading business. The profitable growth strategy in Renewables & Electricity continues with more than 10 GW of installed gross capacity and more than 6 million electricity customers at year-end 2021. The Renewables & Electricity business generated proportional adjusted EBITDA of $1.4 billion over the year, above the target of $0.8 billion, reflecting the last quarter’s strong electricity markets. At the start of 2022, TotalEnergies secured an additional 2 GW of offshore wind projects with the award of a concession in Scotland, as part of the Scotwind tender.
Exploration & Production benefited from higher oil and gas prices with adjusted net operating income of $10.4 billion and was a strong contributor to the Company’s net cash flow with $12.2 billion. In line with its strategy to invest in low-cost and low-emission projects, TotalEnergies increased its presence in Brazil by entering the Atapu and Sépia giant fields, launched the Lake Albert Resource Development Project in Uganda, while divesting interests in mature assets.
Downstream posted solid results with $3.5 billion in adjusted net operating income and cash flow of $5.5 billion, or more than $3 billion in net cash flow. High margins in petrochemicals and the return to pre-crisis results in Marketing & Services, despite sales volumes still impacted by Covid, offset European refining margins that remained low, due to the rise in energy costs.
The Company maintained capital discipline with net investments of $13.3 billion, of which 25% was in Renewables & Electricity. TotalEnergies reported net cash flow of $15.8 billion for the year, allowing it to continue to reduce its net debt with year-end gearing reduced to 15.3%, compared to 21.7% at year-end 2020, and buy back $1.5 billion of shares, in line with the previously announced objective.
(1) | Definition on page 4. | |
(2) | Excluding leases. |
1
In line with the policy announced in February 2021, the Board of Directors will propose at the Shareholders' Meeting to be held on May 25, 2022, the distribution of a final 2021 dividend of €0.66 per share, equal to the three 2021 interim dividends already declared.
In addition, the Board of Directors defined a return-to-shareholder policy for 2022 that will combine, on the one hand, an increase in interim dividends of 5% given the structural growth in cash flow generated by the LNG and electricity business, and, on the other hand, buybacks to share the surplus cash flow from high hydrocarbon prices. These share buybacks are expected to be $2 billion for the first half of 2022.
In accordance with the resolution approved by shareholders in May 2021 on TotalEnergies' ambitions for sustainable development and energy transition toward carbon neutrality, the Board of Directors will report on the progress made in implementing these ambitions at the Shareholders' Meeting on May 25, 2022. With this in mind, the Board of Directors will adopt a ‘Sustainability & Climate - Progress Report 2022’, which will be submitted to a shareholder advisory vote at the Annual Shareholders’ Meeting on May 25, 2022. It will be published and presented on March 24, 2022, during a Strategy, Sustainability & Climate investor meeting.”
1. | Highlights(3) |
Social and environmental responsibility
· | TotalEnergies’ withdrawal from Myanmar, as the deteriorating situation in terms of human rights and rule of law no longer allows TotalEnergies to make a sufficiently positive contribution in the country |
Multi-energy strategy
· | Signed agreements in Libya to develop gas gathering and processing projects for power generation and a 500 MW solar farm, together with the acquisition of additional interests in the Waha concession |
· | Launched the Lake Albert Resource Development Project in Uganda and Tanzania and signed a framework agreement in Uganda to develop renewable energies contributing to public access to energy |
Renewables & Electricity
· | Offshore wind: |
o | Started power generation at the Yunlin offshore wind farm (640 MW capacity), off the coast of Taiwan |
o | Awarded concession with Green Investment Group (GIG) and RIDG to develop a 2 GW offshore wind farm in Scotland |
· | Solar: |
o | Signed a 25-year renewable electricity sales contract with Prony Resources New Caledonia, thanks to the development of a 160 MW solar project in New Caledonia |
o | Strengthened TotalEnergies' leading position in the rooftop solar installation market in France with the award of 58 MW in the 13th tranche of the CRE 4 call for tenders |
· | Storage: |
o | Commissioned the largest battery electricity storage site (61 MW) in France |
· | Electric mobility: |
o | Announced a €200 million investment plan over one year to equip more than 150 highway stations with high-power charging stations for electric vehicles in France |
Upstream
· | TotalEnergies and partners' successful bids at the ToR Surplus round in Brazil for the award of production sharing contracts (PSCs) for the Atapu and Sépia pre-salt oil fields |
· | Obtained the Oman Block 10 concession with a 26.5% interest to develop integrated low-carbon gas projects |
· | Started production of the CLOV Phase 2 project on Angola Block 17 |
· | Divested TotalEnergies' stakes in mature non-operated fields on Angola Blocks 14 and 14K as well as various non-operated permits in Gabon and a minority stake in the Greater Laggan area in the UK |
(3) | Certain transactions referred to in the highlights are subject to approval by authorities or to conditions as per the agreements. |
2
Downstream
· | Acquired BP's marketing network, wholesale fuel business and logistics assets in Mozambique |
· | Circular economy: |
o | Signed agreements for chemical recycling projects in Spain with Plastic Energy and in the United States with Plastic Energy and Freepoint Eco-Systems |
o | Partnership with Plastic Omnium to accelerate the development of recycled plastic materials in the automotive industry |
Biomass
· | Launched construction, with Clean Energy, of a first biogas production unit in the United States |
· | Partnership to recover biomethane from Veolia's waste and wastewater treatment facilities in operation in more than 15 countries |
Hydrogen
· | Partnership with Daimler Truck AG to develop a hydrogen ecosystem for road transport in Europe |
· | Collaboration agreement with Masdar and Siemens Energy to co-develop a green hydrogen project to produce sustainable aviation fuel (SAF) in the United Arab Emirates |
Carbon sinks
· | Signed agreements with AgriProve to develop underground natural carbon sinks on 20,000 hectares in Australia and Corporate Carbon to contribute to the prevention of savannah fires |
· | Partnership agreement with the Government of Suriname to contribute to the preservation of the country's forests as carbon sinks |
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2. | Key figures from TotalEnergies’ consolidated financial statements(4) |
* | Average €-$ exchange rate: 1.1435 in the fourth quarter 2021 and 1.1827 in 2021. |
(4) | Adjusted results are defined as income using replacement cost, adjusted for special items, excluding the impact of changes for fair value; adjustment items are on page 17. |
(5) | Adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) corresponds to the adjusted earnings before depreciation, depletion and impairment of tangible and intangible assets and mineral interests, income tax expense and cost of net debt, i.e., all operating income and contribution of equity affiliates to net income. |
(6) | Effective tax rate = (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates – dividends received from investments – impairment of goodwill + tax on adjusted net operating income). |
(7) | In accordance with IFRS rules, adjusted fully-diluted earnings per share is calculated from the adjusted net income less the interest on the perpetual subordinated bond |
(8) | Organic investments = net investments excluding acquisitions, asset sales and other operations with non-controlling interests. |
(9) | Net acquisitions = acquisitions – assets sales – other transactions with non-controlling interests (see page 18). |
(10) | Net investments = organic investments + net acquisitions (see page 18). |
(11) | Operating cash flow before working capital changes, is defined as cash flow from operating activities before changes in working capital at replacement cost, excluding the mark-to-market effect of iGRP’s contracts and including capital gain from renewable projects sale (effective first quarter 2020). The inventory valuation effect is explained on page 20. The reconciliation table for different cash flow figures is on page 18. |
(12) | DACF = debt adjusted cash flow, is defined as operating cash flow before working capital changes and financial charges |
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3. | Key figures of environment, greenhouse gas emissions and production |
3.1 | Environment* – liquids and gas price realizations, refining margins |
* | The indicators are shown on page 21. |
** | This
indicator represents TotalEnergies’ average margin on variable cost for refining in
Europe (equal to the difference between TotalEnergies European refined product sales and
crude oil purchases with associated variable costs divided by volumes refined in tons). Data restated in 2Q21 environment for energy costs were 35.7 $/t in 4Q21 and 20.5 $/t in 3Q21. |
The average LNG selling price was $13.12/Mbtu in the fourth quarter, up 44% compared to the previous quarter, benefiting on a lagged basis from the increase in oil and gas indices on long-term contracts as well as high spot gas prices in the quarter.
3.2 | Greenhouse gas emissions(13) |
* | Estimated emissions. |
(13) | The six greenhouse gases in the Kyoto protocol, namely CO2, CH4, N2O, HFCs, PFCs and SF6, with their respective GWP (Global Warming Potential) as described in the 2007 IPCC report. HFCs, PFCs and SF6 are virtually absent from the Company’s emissions or are considered as non-material and are therefore not counted. |
(14) | Scope 1+2 GHG emissions of operated facilities are defined as the sum of direct emissions of greenhouse gases from sites or activities that are included in the scope of reporting (as defined in the Company’s 2020 Universal Registration Document) and indirect emissions attributable to brought-in energy (electricity, heat, steam), excluding purchased industrial gases (H2). |
(15) | TotalEnergies reports Scope 3 GHG emissions, category 11, which correspond to indirect GHG emissions related to the use by customers of energy products, i.e., combustion of the products to obtain energy. The Company follows the oil & gas industry reporting guidelines published by IPIECA, which comply with the GHG Protocol methodologies. In order to avoid double counting, this methodology accounts for the largest volume in the oil and gas value chain, i.e., the higher of the two production volumes or sales to end customers. For TotalEnergies, in 2021, the calculation of Scope 3 GHG emissions for the oil value chain considers oil products and biofuels sales (higher than production) and for the gas value chain, marketable gas production (higher than marketing sales). |
(16) | Scope 1+2+3 GHG emissions in Europe are defined as the sum of Scope 1+2 GHG emissions of facilities operated by the Company and indirect GHG emissions related to the use by customers of energy products (Scope 3) in the EU, Norway, United Kingdom and Switzerland. |
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3.3 | Production* |
* | Company production = E&P production + iGRP production. |
Hydrocarbon production was 2,852 thousand barrels of oil equivalent per day (kboe/d) in the fourth quarter 2021, stable compared to a year ago, comprised of:
· | +2% due to start-ups and ramp-ups, including CLOV Phase 2 and Zinia Phase 2 in Angola, Yamal LNG train 4, and the resumption of production in Libya, | |
· | +3% due to the increase in OPEC+ quotas, | |
· | -1% due to portfolio effect, notably the Utica sale in the United States and the divestment of non-operated assets, particularly in Gabon, | |
· | -1% due to the price effect, | |
· | -1% due to planned maintenance and unplanned downtime, notably in Canada, Nigeria and the UK, | |
· | -2% due to natural field decline. |
Hydrocarbon production was 2,819 kboe/d in 2021, down 2% year-on-year, comprised of:
· | +3% due to start-ups and ramp-ups, including North Russkoye in Russia, Iara in Brazil and Johan Sverdrup in Norway, as well as the resumption of production in Libya, | |
· | +3% due to the increase in gas demand and OPEC+ quotas, | |
· | -1% due to portfolio effect, notably the disposals of assets in the UK and the CA1 block in Brunei, | |
· | -1% due to the price effect, | |
· | -3% due to planned maintenance and unplanned downtime, notably in the UK and Norway (Snøhvit), | |
· | -3% due to the natural field decline. |
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4. | Analysis of business segments |
4.1 | Integrated Gas, Renewables & Power (iGRP) |
4.1.1 | Production and sales of Liquefied Natural Gas (LNG) and electricity |
* | The Company’s equity production may be sold by TotalEnergies or by the joint ventures. |
Hydrocarbon production for LNG increased 6% year-on-year in the fourth quarter 2021, due to the impact of unplanned maintenance on fourth quarter 2020 production. Full-year 2021 was stable compared to 2020.
Total LNG sales increased sharply on higher production from Cameron LNG and Freeport LNG in the United States, up 16% in the fourth quarter 2021 compared to a year ago and up 10% for full-year 2021 versus 2020.
(1) | Includes 20% of Adani Green Energy Ltd gross capacity effective first quarter 2021. | |
(2) | End of period data. | |
(3) | Solar, wind, biogas, hydroelectric and combined-cycle gas turbine (CCGT) plants. | |
(4) | TotalEnergies share (% interest) of EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in Renewables & Electricity affiliates, regardless of consolidation method. |
7
Gross installed renewable power generation capacity grew to 10.3 GW at the end of the fourth quarter 2021, up 800 MW, notably thanks to continued increase in start-ups in India and the commissioning of the Dunkirk battery-powered storage site in France.
Net electricity production stood at 6.7 TWh in the fourth quarter 2021, up 57% year-on-year, thanks to strong growth in electricity production from renewable sources as well as combined cycle gas turbine (CCGT) power plants, strengthened by the acquisition of four CCGT plants in France and Spain in the fourth quarter 2020.
TotalEnergies’ adjusted EBITDA of the Renewables & Electricity business was $447 million in the fourth quarter 2021, an increase of 2.5 times year-on-year, driven by strong growth in electricity generation, and took full advantage of integration into the electricity value chain in Europe.
4.1.2 | Results |
* | Detail of adjustment items shown in the business segment information annex to financial statements. | |
** | Excluding financial charges, except those related to lease contracts, excluding the impact of contracts recognized at fair value for the sector and including capital gains on the sale of renewable projects. | |
*** | Excluding financial charges, except those related to leases. |
Adjusted net operating income from the iGRP segment was:
· | $2,759 million in the fourth quarter 2021, a 10.9-fold increase from a year ago, thanks to higher LNG prices and the very good performance of the gas, LNG and electricity trading activities, |
· | $6,243 million for the full-year 2021, a 3.5-fold increase from 2020, for the same reasons. |
Operating cash flow before working capital changes was:
· | $2,440 million in the fourth quarter 2021, a 2.3-fold increase from a year ago, thanks to higher LNG prices and the very good performance of the gas, LNG and electricity trading activities, |
· | $6,124 million in 2021, up 79% compared to 2020, for the same reasons. |
Cash flow from operations was -$57 million for the quarter and $827 million for 2021, mainly due to variations in margin calls related to hedging mechanisms in a context of high volatility in the gas and electricity markets.
8
4.2 | Exploration & Production |
4.2.1 | Production |
4.2.2 | Results |
* | Details on adjustment items are shown in the business segment information annex to financial statements. |
** | Tax on adjusted net operating income / (adjusted net operating income - income from equity affiliates - dividends received from investments - impairment of goodwill + tax on adjusted net operating income). |
*** | Excluding financial charges, except those related to leases. |
Adjusted net operating income from Exploration & Production segment was:
• | $3,525 million in the fourth quarter 2021, more than three times higher than in the fourth quarter 2020, thanks to the sharp increase in oil and gas prices, |
• | $10,439 million in 2021, more than four times higher than in 2020, for the same reasons. |
Operating cash flow before working capital changes was $5,688 million in the fourth quarter 2021, more than twice higher than in the fourth quarter 2020, and $18,717 million in 2021, more than twice higher than in 2020, in line with higher oil and gas prices.
9
4.3 | Downstream (Refining & Chemicals and Marketing & Services) |
4.3.1 | Results |
* | Detail of adjustment items shown in the business segment information annex to financial statements. |
** | Excluding financial charges, except those related to leases. |
4.4 | Refining & Chemicals |
4.4.1 | Refinery and petrochemicals throughput and utilization rates |
* | Includes refineries in Africa reported in the Marketing & Services segment. |
** | Based on distillation capacity at the beginning of the year, excluding Grandpuits (shut down first quarter 2021) from 2021 and Lindsey refinery (divested) from second quarter 2021. |
* | Olefins. |
** | Based on olefins production from steam crackers and their treatment capacity at the start of the year. |
Refinery throughput:
• | Increased by 1% year-on-year in the fourth quarter 2021, due to the demand recovery partially offset by the prolonged shutdown of the Donges refinery for economic reasons, the shutdown of the Grandpuits refinery for conversion to a zero-oil platform and the sale of the Lindsey refinery in the United Kingdom. |
• | Decreased 9% in 2021 compared to 2020 for the same reasons as well as the planned major shutdown of the Leuna refinery in Germany in the second quarter 2021. |
Monomer production:
• | Decreased by 2% year-on-year in the fourth quarter 2021, notably due to a planned maintenance shutdown on the Qapco platform in Qatar and unplanned shutdowns at several sites in Europe, partially offset by the restart of the Port Arthur steam cracker in the United States, in maintenance in 2020. |
• | Increased 5% in 2021 compared to 2020, supported by demand, and notably due to the restart of the Port Arthur steam cracker in the United States, in maintenance in 2020. |
Polymer production decreased 5% year-on-year in the fourth quarter 2021, given the decline in demand, particularly in Asia, and was stable in 2021 compared to 2020.
10
4.4.2 | Results |
* | Detail of adjustment items shown in the business segment information annex to financial statements. |
** | Excluding financial charges, except those related to leases. |
Adjusted net operating income from the Refining & Chemicals segment:
• | Increased sharply to $553 million in the fourth quarter 2021, compared to $170 million in the fourth quarter 2020. The increase is linked to the very good performance of petrochemicals and the increase in European and American refining margins, despite the increase in energy costs, |
• | Increased 84% to $1,909 million in 2021, compared to $1,039 million in 2020, for the same reasons. |
Operating cash flow before working capital changes was $865 million in the fourth quarter 2021 and $2,946 million in 2021, up 54% and 19% year-on-year, respectively, in line with the very good performance of petrochemicals and refining margins that increased, although still low, at the end of 2021.
4.5 | Marketing & Services |
4.5.1 | Petroleum product sales |
* | Excludes trading and bulk refining sales. |
Petroleum product sales showed year-on-year growth of 3% in the fourth quarter 2021 and 2% for the full-year 2021, thanks to the improvement in the health situation and the global economic rebound. This increase reflects mainly the recovery in retail activity and, at the end of 2021, of the aviation activity.
4.5.2 | Results |
* | Detail of adjustment items shown in the business segment information annex to financial statements. |
** | Excluding financial charges, except those related to leases. |
Adjusted net operating income for the Marketing & Services segment was $479 million in the fourth quarter 2021 and $1,618 million in 2021, up 44% and 32% year-on-year, respectively.
Operating cash flow before working capital changes was $694 million in the fourth quarter 2021 and $2,556 million in 2021, up 22% and 17% year-on-year, respectively.
These results are back to levels comparable to those of the pre-crisis period, despite a 19% drop in sales in 2021 compared to 2019 (most of which is linked to the strategy to arbitrage low margin sales).
11
5. | TotalEnergies results |
5.1 | Adjusted net operating income from business segments |
Adjusted net operating income from the business segments was:
• | $7,316 million in the fourth quarter 2021, compared to $1,824 million a year ago, due to higher oil and gas prices, |
• | $20,209 million in 2021, compared to $6,404 million in 2020, for the same reason. |
5.2 | Adjusted net income (TotalEnergies share) |
Adjusted net income (TotalEnergies share) was:
• | $6,825 million in the fourth quarter 2021 compared to $1,304 million a year ago, due to higher oil and gas prices, |
• | $18,060 million in 2021, compared to $4,059 million in 2020, for the same reason. |
Adjusted net income excludes the after-tax inventory effect, special items and the impact of changes in fair value(17).
Total net income adjustments(18) were:
• | -$988 million in the fourth quarter 2021, mainly comprised of -$670 million for impairments, including -$305 million for the withdrawal of TotalEnergies from Myanmar and -$170 million for the loss on the sale of TotalEnergies' interest in Yucal Placer in Venezuela, |
• | -$2,028 million for 2021, comprised of the elements above as well as notably the -$1,379 million loss on the sale of TotalEnergies' stake in Petrocedeño to PDVSA in Venezuela and the -$177 million loss on the Utica sale in the United States, the -$89 million impairment related to the end of the Qatargas 1 contract, restructuring charges related to the voluntary departure plan in France and Belgium, and a positive inventory effect of $1,495 million for the year. |
TotalEnergies' effective tax rate was 40.2% in the fourth quarter 2021, compared to 39.6% in the previous quarter and 14.9% in the fourth quarter 2020. The exceptionally low rate in the fourth quarter 2020 reflected the impact of the Covid crisis on financial results.
5.3 | Adjusted earnings per share |
Adjusted fully-diluted earnings per share was:
• | $2.55 in the fourth quarter 2021, calculated based on 2,644 million weighted-average diluted shares, compared to $0.46 a year earlier, |
• | $6.68 in 2021, calculated based on 2,647 million weighted-average diluted shares, compared to $1.43 a year earlier. |
As of December 31, 2021, the number of fully-diluted shares was 2,626 million.
As part of its shareholder return policy, TotalEnergies repurchased 30.7 million shares for cancellation in the fourth quarter 2021 for $1.5 billion.
5.4 | Acquisitions - asset sales |
Acquisitions were:
• | $288 million in the fourth quarter 2021, including the acquisition of Blue Raven Solar by SunPower in the United States, |
• | $3,284 million in 2021, including the acquisition above as well as notably the acquisition of a 20% interest for $2 billion in Adani Green Energy Limited, the renewable project developer in India, the acquisition of Fonroche Biogaz in France, the interest in the Yunlin wind project in Taiwan and the 10% increase in the interest in the Lapa block in Brazil. |
Asset sales were:
• | $684 million in the fourth quarter 2021, including the sale of TotalEnergies' interests in 7 mature non-operated offshore fields and the Cap Lopez oil terminal in Gabon and the sale of a 30% interest in TRAPIL in France, |
(17) | These adjustment elements are explained page 20. |
(18) | The total of the adjustment items of the net income is detailed page 17 as well as in the annexes to the accounts |
12
• | $2,652 million in 2021, including the elements above as well as the payment by GIP of more than $750 million as part of the tolling agreement for the infrastructure of the Gladstone LNG project in Australia, the sale in France of a 50% interest in a portfolio of renewable projects with a total capacity of 285 MW (100%), the sale of the 10% stake in onshore block OML 17 in Nigeria, the price supplement related to the sale of Block CA1 in Brunei, the sale of the Lindsey refinery in the United Kingdom, the sale of interests in the TBG pipeline in Brazil, the sale of shares in Clean Energy Fuels Corp. and the sale of interests in Tellurian Inc. in the United States. |
5.5 | Net cash flow |
TotalEnergies’ net cash flow(19) was:
• | $5,076 million in the fourth quarter 2021 compared to -$33 million a year earlier, reflecting the $4.9 billion increase in operating cash flow before working capital changes and the $246 million decrease in net investments to $4,285 million in the fourth quarter 2021, |
• | $15,833 million in 2021 compared to $2,708 million in 2020, reflecting the $13.4 billion increase in operating cash flow before working capital changes and a $318 million increase in net investments to $13,307 million in 2021. |
Cash flow from operations of $11,621 million in the fourth quarter, compared to operating cash flow before working capital changes of $9,361 million, was positively impacted by a decrease in working capital requirements of $2.7 billion, which was driven by an increase in tax liabilities and by a reduction in net receivables, and negatively impacted by variations in margin calls, related to hedging mechanisms in a context of high volatility in the gas and electricity markets.
5.6 | Profitability |
Return on equity was 16.9% for the full-year 2021.
Return on average capital employed was 13.9% for the full-year 2021.
6. | TotalEnergies SE statutory accounts |
Net income for TotalEnergies SE, the parent company, was €6,868 million in 2021 compared to €7,238 million in 2020.
7. | 2022 Sensitivities* |
* | Sensitivities are revised once per year upon publication of the previous year’s fourth quarter results. Sensitivities are estimates based on assumptions about TotalEnergies’ portfolio in 2022. Actual results could vary significantly from estimates based on the application of these sensitivities. The impact of the $-€ sensitivity on adjusted net operating income is essentially attributable to Refining & Chemicals. Please find the indicators detailed page 21. |
** | In a 60 $/b Brent environment. |
(19) | Net cash flow = operating cash flow before working capital changes - net investments (including other transactions with non-controlling interest). |
13
8. | Summary and outlook |
The prices of oil rose above $90/b for the first time since 2014 at the beginning of 2022. This increase in price is driven by the global demand recovery and OPEC+ discipline in a context of constrained supply, given the low level of investment in hydrocarbons since 2015. It is exacerbated in the short term by low oil inventories. Prices could therefore remain at high levels, depending on the mobilization of OPEC+ production and the growth of unconventional oil production in the United States.
After reaching all-time highs in the fourth quarter 2021, gas prices have remained very high in Europe and Asia since the beginning of 2022, driven by geopolitical uncertainties in Europe despite a mild winter season. In this context, futures markets anticipate gas prices that may remain above $20/Mbtu in 2022.
TotalEnergies anticipates 2022 hydrocarbon production growth of around 2%, driven by the start-ups of Mero 1 in Brazil and Ikike in Nigeria, the entry into the Atapu and Sépia PSCs in Brazil effective May 2022 but impacted by the sales of mature assets completed in 2021 as well as the exit from Myanmar effective July 2022.
Continuing the momentum that has been underway for several years, TotalEnergies is implementing its strategy of integrated growth in LNG, which will generate structural cash flow growth of $1 billion in 2022. In addition, given the evolution of oil and gas prices in recent months and the lag effect on price formulas, TotalEnergies anticipates that its average LNG selling price should remain at a high level of at least $12/Mbtu in the first half of 2022.
In Renewables & Electricity, TotalEnergies plans to have more than 16 GW of renewable gross capacity in operation by year-end 2022. Electricity generation will increase by more than 25% in 2022, representing a proportional adjusted EBITDA(20) of at least $1.5 billion. To implement its profitable growth strategy in the electricity value chain, TotalEnergies will allocate, in 2022, $3.5 billion of net investments to Renewables & Electricity, or 25% of its net investments.
Downstream will continue to strengthen its industrial competitiveness and invest in petrochemicals and in new markets, such as biofuels and electric mobility. In 2022, as part of its diversified portfolio, it is expected to contribute more than $6 billion to the Company's cash flow, based on an assumption of $25/t refining margins.
Confident in its ability to transform itself into a sustainable multi-energy company and increase the return to shareholders, the Company confirms its cash flow allocation priorities: investing in profitable projects to implement its transformation strategy, linking dividend growth to structural cash flow growth, maintaining a strong balance sheet and a long-term debt rating with a minimum "A" level by anchoring gearing below 20%, and allocating a share of the surplus cash flow from high hydrocarbon prices to share buybacks.
In accordance with this policy, TotalEnergies expects net investments of $14-15 billion in 2022, of which 50% will be allocated to growth and 50% to maintaining the base of its activity.
* * * *
To listen to the conference call with CEO Patrick Pouyanné and CFO Jean-Pierre Sbraire today at 13:00 (Paris time) please log on to totalenergies.com or call +44 (0) 207 192 8338 in Europe or +1 (646) 7413-167 in the United States (code: 8472569). The conference replay will be available on totalenergies.com after the event.
* * * *
TotalEnergies contacts
Media Relations: | +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPress |
Investor Relations: | +33 (0)1 47 44 46 46 l ir@totalenergies.com |
(20) | Definition on page 7. |
14
9. | Operating information by segment |
9.1 | Company’s production (Exploration & Production + iGRP) |
9.2 | Downstream (Refining & Chemicals and Marketing & Services) |
* | Olefins, polymers. |
15
9.3 | Renewables |
(1) | Includes 20% of gross capacity of Adani Green Energy Ltd effective first quarter 2021. |
(2) | End-of-period data. |
X | not specified, capacity < 0.2 GW. |
X | not specified, PPA relating to a capacity < 0.2 GW. |
16
10. | Adjustment items to net income (TotalEnergies share) |
11. | Reconciliation of adjusted EBITDA with consolidated financial statements |
11.1 | Reconciliation of net income (TotalEnergies share) to adjusted EBITDA |
11.2 | Reconciliation of revenues from sales to adjusted EBITDA and net income (TotalEnergies share) |
17
12. | Investments - Divestments |
* | Change in debt from renewable projects (TotalEnergies share and partner share). |
13. | Cash flow |
* | Operating cash flow before working capital changes, is defined as cash flow from operating activities before changes in working capital at replacement cost, excluding the mark-to-market effect of iGRP’s contracts and including capital gain from renewable projects sale (effective first quarter 2020). |
Historical data have been restated to cancel the impact of fair valuation of iGRP sector’s contracts.
** | Changes in working capital are presented excluding the mark-to-market effect of iGRP’s contracts. |
18
14. | Gearing ratio |
(1) | Excludes leases receivables and leases debts. |
(2) | Including initial margins held as part of the Company's activities on organized markets. |
15. | Return on average capital employed |
Full-year 2021
Twelve months ended September 30, 2021
Full-year 2020
* | At replacement cost (excluding after-tax inventory effect). |
19
Disclaimer:
The terms “TotalEnergies”, “TotalEnergies company” and “Company” in this document are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate and independent legal entities.
This press release presents the results for the fourth quarter 2021 and the full-year 2021 from the consolidated financial statements of TotalEnergies SE as of December 31, 2021 (unaudited). The audit procedures by the Statutory Auditors are underway. The consolidated financial statements (unaudited) are available on the website totalenergies.com. This document does not constitute the annual financial report (rapport financier annuel) within the meaning of article L.451.1.2 of the French monetary and financial code (code monétaire et financier).
This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, notably with respect to the financial condition, results of operations, business activities and industrial strategy of TotalEnergies. This document may also contain statements regarding the perspectives, objectives, areas of improvement and goals of TotalEnergies, including with respect to climate change and carbon neutrality (net zero emissions). An ambition expresses an outcome desired by TotalEnergies, it being specified that the means to be deployed do not depend solely on TotalEnergies. These forward-looking statements may generally be identified by the use of the future or conditional tense or forward-looking words such as “envisions”, “intends”, “anticipates”, “believes”, “considers”, “plans”, “expects”, “thinks”, “targets”, “aims” or similar terminology. Such forward-looking statements included in this document are based on economic data, estimates and assumptions prepared in a given economic, competitive and regulatory environment and considered to be reasonable by TotalEnergies as of the date of this document.
These forward-looking statements are not historical data and should not be interpreted as assurances that the perspectives, objectives or goals announced will be achieved. They may prove to be inaccurate in the future, and may evolve or be modified with a significant difference between the actual results and those initially estimated, due to the uncertainties notably related to the economic, financial, competitive and regulatory environment, or due to the occurrence of risk factors, such as, notably, the price fluctuations in crude oil and natural gas, the evolution of the demand and price of petroleum products, the changes in production results and reserves estimates, the ability to achieve cost reductions and operating efficiencies without unduly disrupting business operations, changes in laws and regulations including those related to the environment and climate, currency fluctuations, as well as economic and political developments, changes in market conditions, loss of market share and changes in consumer preferences, or pandemics such as the COVID-19 pandemic. Additionally, certain financial information is based on estimates particularly in the assessment of the recoverable value of assets and potential impairments of assets relating thereto.
Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. The information on risk factors that could have a significant adverse effect on TotalEnergies’ business, financial condition, including its operating income and cash flow, reputation, outlook or the value of financial instruments issued by TotalEnergies is provided in the most recent version of the Universal Registration Document which is filed by TotalEnergies SE with the French Autorité des Marchés Financiers and the annual report on Form 20-F filed with the United States Securities and Exchange Commission (“SEC”).
Financial information by business segment is reported in accordance with the internal reporting system and shows internal segment information that is used to manage and measure the performance of TotalEnergies. In addition to IFRS measures, certain alternative performance indicators are presented, such as performance indicators excluding the adjustment items described below (adjusted operating income, adjusted net operating income, adjusted net income), return on equity (ROE), return on average capital employed (ROACE), gearing ratio, operating cash flow before working capital changes, the shareholder rate of return. These indicators are meant to facilitate the analysis of the financial performance of TotalEnergies and the comparison of income between periods. They allow investors to track the measures used internally to manage and measure the performance of TotalEnergies.
These adjustment items include:
(i) Special items
Due to their unusual nature or particular significance, certain transactions qualified as "special items" are excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. However, in certain instances, transactions such as restructuring costs or asset disposals, which are not considered to be representative of the normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to occur again within the coming years.
(ii) Inventory valuation effect
The adjusted results of the Refining & Chemicals and Marketing & Services segments are presented according to the replacement cost method. This method is used to assess the segments’ performance and facilitate the comparability of the segments’ performance with those of TotalEnergies’ principal competitors.
In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the statement of income is, depending on the nature of the inventory, determined using either the month-end price differentials between one period and another or the average prices of the period rather than the historical value. The inventory valuation effect is the difference between the results according to the FIFO (First-In, First-Out) and the replacement cost.
(iii) Effect of changes in fair value
The effect of changes in fair value presented as an adjustment item reflects, for some transactions, differences between internal measures of performance used by TotalEnergies’ management and the accounting for these transactions under IFRS.
IFRS requires that trading inventories be recorded at their fair value using period-end spot prices. In order to best reflect the management of economic exposure through derivative transactions, internal indicators used to measure performance include valuations of trading inventories based on forward prices.
TotalEnergies, in its trading activities, enters into storage contracts, whose future effects are recorded at fair value in TotalEnergies’ internal economic performance. IFRS precludes recognition of this fair value effect.
Furthermore, TotalEnergies enters into derivative instruments to risk manage certain operational contracts or assets. Under IFRS, these derivatives are recorded at fair value while the underlying operational transactions are recorded as they occur. Internal indicators defer the fair value on derivatives to match with the transaction occurrence.
The adjusted results (adjusted operating income, adjusted net operating income, adjusted net income) are defined as replacement cost results, adjusted for special items, excluding the effect of changes in fair value.
Euro amounts presented for the fully adjusted-diluted earnings per share represent dollar amounts converted at the average euro-dollar (€-$) exchange rate for the applicable period and are not the result of financial statements prepared in euros.
Cautionary Note to U.S. Investors – The SEC permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with SEC rules. We may use certain terms in this press release, such as “potential reserves” or “resources”, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in the Form 20-F of TotalEnergies SE, File N° 1-10888, available from us at 2, place Jean Millier – Arche Nord Coupole/Regnault - 92078 Paris-La Défense Cedex, France, or at our website totalenergies.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website sec.gov.
20
Exhibit 99.5
PRESS RELEASE |
TotalEnergies Board of Directors decisions on 2021 dividend, 2022 shareholder returns, and 2022 Sustainability & Climate resolution
Paris, February 10, 2022 - The Board of Directors of TotalEnergies SE, meeting on February 9, 2022 under the chairmanship of Mr. Patrick Pouyanné, Chairman and Chief Executive Officer, approved the following decisions:
1. Dividend for the 2021 financial year
The Board decided to propose at the Shareholders' Meeting to be held on May 25, 2022, the distribution of a final dividend of €0.66/share for the 2021 financial year, the same amount as the three interim payments paid for the 2021 financial year.
Taking into account the three interim dividends of €0.66/share previously declared by the Board, the dividend for the 2021 financial year will amount to €2.64/share.
Subject to approval by the General Assembly, this final dividend will be paid in cash exclusively, according to the following schedule:
Shares | American Depositary Receipts | |
Ex-dividend date | June 21, 2022 | June 17, 2022 |
Payment date | July 1, 2022 | July 14, 2022 |
2. Return to shareholder policy for the 2022 financial year
The Board of Directors has defined a shareholder return policy for 2022. It will combine:
· | an increase in the interim dividends of 5% taking into account the structural growth in cash flow generated by the LNG and electricity business, and |
· | buybacks to share the surplus cash flow from high hydrocarbon prices. These share buybacks are expected to be $2 billion for the first half of 2022. |
3. Sustainability & Climate Advisory Resolution for the 2022 General Assembly
In accordance with the resolution approved by shareholders in May 2021 on TotalEnergies' ambitions for sustainable development and energy transition toward carbon neutrality, the Board of Directors will report on the progress made in implementing these ambitions at the Shareholders' Meeting on May 25, 2022. With this in mind, the Board of Directors will adopt a Sustainability & Climate - Progress Report 2022, which will be submitted to a shareholder advisory vote at the Annual Shareholders’ Meeting on May 25, 2022. It will be published and presented on March 24, 2022, during a Strategy, Sustainability & Climate investor meeting.
____
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Exhibit 99.6
PRESS RELEASE |
USA – Gulf of Mexico: TotalEnergies withdraws from
the North Platte Deep Water Project
Paris, February 10, 2022 – TotalEnergies, through its affiliate TotalEnergies E&P USA, Inc., announces its decision not to sanction and so to withdraw from the North Platte deepwater project in the US Gulf of Mexico.
The decision not to continue with the project was taken as the Company has better opportunities of allocation of its capital within its global portfolio.
TotalEnergies who held a 60% operated interest in North Platte, alongside its joint-interest owner Equinor (40%) has duly notified its partner and the relevant authorities of its immediate withdrawal from the project, and of its resignation as operator which will be effective following a short transition period to ensure an orderly hand-over of operatorship.
***
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
EXHIBIT 99.7
PRESS RELEASE |
United States: TotalEnergies to Acquire SunPower’s Commercial & Industrial Solar Business
Enabling TotalEnergies to expand reach in the
U.S. B2B solar distributed generation;
SunPower to focus and accelerate growth in residential solar services
Paris and San Jose, February 10, 2022 – TotalEnergies (NYSE:TTE) today announced it has signed a definitive agreement with SunPower Corp.’s (NASDAQ:SPWR) to purchase its Commercial & Industrial Solutions (CIS) business for $250 million, including $60 million of earn-out subject to regulatory evolution. TotalEnergies is the majority shareholder of SunPower, a leading solar technology and energy services provider.
This acquisition is another step in TotalEnergies’ roadmap to develop its distributed generation business, currently accounting to close to 500 MW in operation worldwide. It will allow TotalEnergies to extend its distributed generation business footprint to the U.S. and to develop over 100 MW of additional capacity per year. Beyond, this activity will also create synergies with TotalEnergies' large-scale solar energy portfolio in the U.S and enable B2B customers to benefit from more comprehensive energy solutions and new capabilities in financing and project ownership.
As for SunPower, this operation follows a previous announcement it would focus on its high-growth residential business, offering a superior customer experience with a growing ecosystem of innovative products and services, hence exploring strategic options for the CIS business.
All in all, this win-win operation fully fits TotalEnergies and SunPower’s respective strategies to better serve industrial, commercial and residential customers.
“With this acquisition, TotalEnergies is further investing to grow its distributed generation activity in the U.S. and support its B2B customers in meeting their sustainable development goals. It is a new milestone in our renewable development in the country, where we are targeting 4 gigawatts of solar capacity by 2025”, said Vincent Stoquart, senior vice president Renewables for TotalEnergies. “This will also give SunPower additional resources to focus on the growing residential market. We look forward to welcoming the Commercial & Industrial teams and ensuring the continuity of TotalEnergies’ commitment in this business as we integrate this high-quality portfolio of products and customers.”
“TotalEnergies is the ideal partner for our CIS business to take advantage of the growing commercial market and opportunities like community solar and front-of-meter storage,” said Peter Faricy, CEO of SunPower. “The sale enables SunPower to focus on creating a superior residential experience, increase our investment in product and digital innovation, and reach more homeowners. The enhanced strategic clarity created by this transaction will help SunPower lead the industry and deliver maximum value to our investors, partners and customers."
Following a thorough process involving discussions with a number of parties, and upon the unanimous recommendation of a special committee of SunPower’s independent directors, the acquisition has been approved by both companies. The transaction is expected to close early Q2 subject to the satisfaction of customary closing conditions. This operation is not expected to reduce TotalEnergies’ majority ownership stake (50.83%) in SunPower.
***
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies in the U.S.
Operating in the United States since 1957, TotalEnergies is focused on identifying opportunities in the evolving U.S. energy market to meet growing energy needs while reducing carbon emissions. The Company is developing a number of solar and energy storage projects in the U.S., targeting 4 gigawatts in cumulative capacity by 2025. It is also positioning itself in the high-potential U.S. offshore wind market. It has qualified to participate in the upcoming New York Bight offshore wind energy auction and launched a joint venture to explore floating offshore wind opportunities off the West Coast.
TotalEnergies and renewables electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in renewables and electricity. At the end of September 2021, TotalEnergies' gross renewable electricity generation capacity is 10 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 producers of electricity from wind and solar energy.
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
About SunPower
Headquartered in California's Silicon Valley, SunPower (NASDAQ:SPWR) is a leading Distributed Generation Storage and Energy Services provider in North America. SunPower offers the only solar + storage solution designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners, businesses, governments, schools and utilities. For more information, visit www.sunpower.com.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
SunPower Contacts
Media Relations: Sanah Sadaruddin, sanah.sadaruddin@sunpower.com , 832-630-3707
Investor Relations: Mike Weinstein, Mike.Weinstein@sunpower.com , 510-260-8585
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the anticipated sale of the CIS business to TotalEnergies, expected growth, market positioning, and future areas of focus. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these
forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements entered into for the sale of the CIS business; unfavorable reactions to the contemplated sale of the CIS business from customers, competitors, suppliers and employees; changes in the policy environment and the availability of economic incentives for our products; challenges in executing transactions key to our strategic plans; and potential disruptions to our operations that may result from epidemics or natural disasters, including impacts of the Covid-19 pandemic. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpower.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
EXHIBIT 99.8
PRESS RELEASE |
Indicative ex-dividend dates for 2023 dividend
Paris, February 11, 2022 - The Board of Directors met on February 9, 2022 and decided that, subject to decisions by the Board of Directors and the Shareholders’ Meeting which will approve the 2023 financial statements, allocation of earnings and final dividend, the ex-dividend dates of the interim and the final dividends for 2023 will be as follows:
Type of coupon | Ex-dividend dates |
First interim | September 20, 2023 |
Second interim | January 2, 2024 |
Third interim | March 20, 2024 |
Final | June 19, 2024 |
The above ex-dividend dates relate to the TotalEnergies shares listed on the Euronext.
____
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
EXHIBIT 99.9 |
Disclosure of Transactions in Own Shares
Paris, February 14, 2022 – In accordance with the authorization given by the ordinary shareholders’ general meeting on May 28, 2021 to trade on its shares and pursuant to applicable law on share repurchase, TotalEnergies SE (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) on February 11th, 2022:
Transaction date | Total daily volume (number of shares) |
Daily weighted average purchase price of the shares (EUR/share) |
Amount of transactions (EUR) |
Market (MIC Code) |
11.02.2022 | 300,720 | 52.0065 | 15,639,400.49 | XPAR |
11.02.2022 | 100,000 | 52.0278 | 5,202,779.85 | CEUX |
11.02.2022 | 40,000 | 51.9675 | 2,078,699.21 | TQEX |
11.02.2022 | 40,000 | 51.9781 | 2,079,122.83 | AQEU |
Total | 480,720 | 52.0053 | 24,999,987.82 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the TotalEnergies website: https://totalenergies.com/investors/shares-and-dividends/total-shares/info/company-share-transactions
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
* * * * *
TotalEnergies contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com
Exhibit 99.10
PRESS RELEASE |
Capital increase reserved for employees of TotalEnergies in 2022
Paris, February 16, 2022 - In accordance with its policy in favor of employee shareholding, TotalEnergies SE (the “Corporation”) is implementing its annual capital increase reserved for employees and former employees of the TotalEnergies company (the “Company”). Through this operation, TotalEnergies SE intends to continue involving its employees in the Company’s growth. Employee shareholders, within the meaning of Article L. 225-102 of the French Commercial Code and article 11 par. 6 of the Articles of Association of TotalEnergies SE, held 6.8% of TotalEnergies SE’s share capital as of December 31, 2021.
The seventeenth resolution of the Shareholders’ Meeting held on May 28, 2021 granted the Board of Directors (the “Board”) the authority to decide, within a maximum period of 26 months, to carry out one or more capital increases of ordinary shares without preferential subscription rights, not to exceed 1.5% of the share capital at the date of the Board meeting deciding on the operation and reserved to members of a savings plan pursuant to the provisions of Articles L. 225-129 and seq., L. 225-138-1 of the French Commercial Code and Articles L. 3332-1 to L. 3332-9 and L. 3332-18 to L. 3332 24 of the French Labor Code.
The Board, pursuant to the above-mentioned authorization, decided during its meeting on September 15, 2021 to carry out, in 2022, a new share capital increase reserved for employees and former employees of the Company pursuant to the following conditions:
ü | Maximum number of shares to be offered and total amount of the offer: 18 million shares with a nominal value of €2.50 each, representing a total nominal amount of €45 million, which is the equivalent of 0.68% of the share capital as of the date of the Board’s decision. |
ü | Description of the newly issued shares: same category as existing TotalEnergies shares with immediate dividend rights. The rights attached to the newly issued shares are the same as the rights attached to the existing shares of the Corporation, and are described in the Articles of Association of TotalEnergies SE. |
ü | Listing of the newly issued shares on Euronext: on the same line as existing TotalEnergies shares (ISIN code FR0000120271), from their issuance. American Depositary Receipts admitted to trading on the New York Stock Exchange may be issued in exchange for the new shares. |
ü | Share subscription price: equal to price corresponding to the average of the last listed prices of the TotalEnergies shares on Euronext over the 20 trading sessions preceding the date of the decision setting the opening date for the subscription period (“Reference Price”), reduced by a 20% discount, and rounded off to the highest tenth of a euro. The subscription price will be definitively fixed before the beginning of the subscription period. |
ü | Indicative timeline (subject to the Chairman and CEO’s decision): |
- | Determination of the subscription price: April 27, 2022; | |
- | Subscription period: from April 29, 2022 to May 13, 2022 (included). |
Please refer to the appendix to this press release for further information on this operation.
____
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
Cautionary Note
The program, reserved to eligible employees and retirees of the Company, will be implemented in France as well as in certain foreign countries, including the United States, where the shares offered in the United States will be registered with the Securities and Exchange Commission (SEC). Shares and FCPE units offered outside the United States will not be registered with the SEC. In particular, the units of the below-mentioned FCPEs cannot be offered or sold in the United States directly or indirectly (or in its territories or possessions), or for the benefit of a "U.S. Person", as defined in American regulations. Persons wishing to subscribe to units in these FCPEs, will have to certify, when subscribing, that they are not "U.S. Persons". The definition of "U.S. Person" is available on the FCPE Management Company's website (www.amundi.com).
This press release is produced for information purposes only and does not constitute an offer for the sale or the subscription of securities. Moreover, this press release should not be distributed in the countries where the offering remains subject to approval of the local authorities.
The offer will be issued only in the countries where the local administrative and regulatory procedures have been implemented (in particular, the registration procedures, notification, granting of authorizations and/or applicable exemptions and the information or the consultation of the representatives of the employees).
This press release represents the document required to qualify for the exemption from the requirement to publish a prospectus as defined in Articles 1 4°i) and 5°h) of the Regulation (UE) 2017/1129 of June 14, 2017.
Appendix to the press release on February 16, 2022
Issuer: TotalEnergies SE
Information related to TotalEnergies SE is available on its website (www.totalenergies.com) and more specifically in its 2020 Universal Registration Document, the French version of which was filed with the Autorité des marchés financiers (“AMF”) on March 31, 2021 under the registration number D. 21-0232 and is also available free of charge at the head office of TotalEnergies SE.
Scope of the reserved offering: corporations and Beneficiaries
Approximately 115,000 beneficiaries are eligible to participate in the 2022 capital increase.
Subject to compliance with regulations and required administrative approvals being obtained in the different countries, this capital increase will be reserved to employees and former employees of the Corporation and its French and non-French subsidiaries, the capital or voting rights of which, as of the opening date for the subscription period, are directly or indirectly held at more than 50% by TotalEnergies SE (the “Subsidiaries”), members of the PEG-A:
- | employees of TotalEnergies SE and its Subsidiaries: |
§ | who have at least 3 months of employment with the Company as of the last day of the subscription period; and |
- | former employees of TotalEnergies SE or the Subsidiaries, if they: |
§ | have left the Company due to retirement or early retirement; |
§ | had made at least one payment in the PEG-A before termination of their employment; |
§ | still have assets invested in the PEG-A, and, thus, are members of the plan. |
Matching contribution
Employees subscribing to the offering will benefit from a matching contribution in the form of a free allotment of additional shares, determined based on the amount of the personal contribution and within the limits of five free shares per employee and within the maximum amount of the offering set by the Board at its meeting on September 15, 2021.
Subscription terms and conditions
The beneficiaries will have the opportunity to subscribe via employee shareholding funds (“FCPEs”) created for the needs of this offering and which have been approved by the AMF. In the countries where this option is not available the shares will be directly subscribed.
Voting rights attached to the shares subscribed through an FCPE will be exercised by the Supervisory Board of such FCPE. With respect to the shares subscribed directly by employees, the voting rights will be exercised by the subscribers individually.
Maximum subscription
Pursuant to Article L. 3332-10 of the French Labor Code, the amount of the payments made each year by an employee as part of a savings plan (excluding matching contribution and profit-sharing schemes, i.e., intéressement and participation) cannot exceed one quarter of the employee’s gross annual salary.
Lock-up period for the units or shares
Pursuant to Article L. 3332-25 of the French Labor Code, shares or FCPE units subscribed in this offering must be held during a lock-up period of five years, except for certain early release cases provided for by Articles L. 3324-10 et R. 3324-22 of the French Labor Code. For beneficiaries who are not French tax residents, the list of early release cases may be adapted due to legal provisions applicable locally.
Rule for reduction of subscription requests
The capital increase will be fulfilled by the total number of shares subscribed directly by employees and via the FCPEs. If the total number of subscribed shares exceeds the maximum number of shares offered by the Board of Directors at its meeting on September 15, 2021 (18 million shares, including additional shares of the matching contribution), the subscriptions will be cut back in the following manner:
- | all subscription undertakings will be fully honored up to the subscription average, defined as the quotient between the maximum number of shares offered by the Board and the number of subscribers, |
- | subscriptions undertakings that exceed the subscription average will be fulfilled in proportion to the number of subscription undertakings not yet fulfilled with the reduction being made as follows: |
§ | the reduction will be carried out on a pro rata basis according to the subscription undertakings; and |
§ | the reduction will be carried out first on the portion of the offer paid with salary advance, then on the portion paid in cash. |
EXHIBIT 99.11
PRESS RELEASE |
TotalEnergies and Honeywell sign a strategic agreement to promote the development of advanced plastic recycling
Paris and Houston, February 17, 2022 – TotalEnergies and Honeywell today announced a strategic agreement to promote the development of advanced plastic recycling. Under this agreement, Honeywell will agree to supply TotalEnergies with Recycled Polymer Feedstock (RPF) using Honeywell’s UpCycle Process Technology at the recently announced Honeywell and Sacyr advanced recycling plant, intended to be built in Andalucía, Spain. TotalEnergies will purchase and convert this raw material into virgin-quality polymers, which could be used for food-grade packaging and other high demanding applications.
The UpCycle plant, which will be owned by a joint venture between Honeywell and Sacyr, is planned to process and convert yearly 30,000 tons of mixed plastic waste into RFP, that may otherwise be destined for landfill or incineration. The projected startup of the UpCycle plant is expected in 2023, with RPF to be used for the manufacturing of high-quality polymers in TotalEnergies’ European-based production units. With identical properties to virgin polymers, the recycled polymers are expected to be suitable for a wide range of applications including food-grade applications, such as flexible and rigid food packaging containers.
This first planned project represents the start of the collaboration between TotalEnergies and Honeywell in the field of advanced recycling. Both parties are committed to addressing the issue of plastic waste and helping to build a more circular and sustainable economy in Europe, and the rest of the world.
"We are pleased to partner with Honeywell to tackle the issue of plastic waste through the development of advanced plastic recycling, and thereby the circular economy, one of the pillars of sustainable development. This project, with a 2023 targeted startup, will contribute to meet our ambition of producing 30% recycled and renewable polymers by 2030 “said Valérie Goff, Senior Vice President, Polymers at TotalEnergies.
“Plastics demand will continue to grow, so it’s critical to create a linkage between waste management and plastics production to strengthen a circular flow of plastics,” said Ben Owens, vice president and general manager, Honeywell Sustainable Technology Solutions. “The relationship with TotalEnergies will provide a strong recycled polymer feedstock offtake partner and coupled with our recently announced advanced recycling plant with Sacyr, Honeywell is leading the drive toward a more circular plastics economy.”
***
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
About Honeywell
Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.
TotalEnergies Contacts
· | Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR |
· | Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com |
Honeywell contact
· | Media Relations: Mike Hockey +1 832 285 4933 l mike.hockey@honeywell.com |
· | Investor Relations: Sean Meakim +1 704 627 6200 l sean.meakim@honeywell.com |
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
EXHIBIT 99.12
PRESS RELEASE
Suriname: TotalEnergies announces
another significant discovery in Block 58
Paris, February 21, 2022 – TotalEnergies and APA Corporation have made a significant new oil and associated gas discovery at the Krabdagu-1 well, in the central area of Block 58, offshore Suriname. This follows previous discoveries at Maka, Sapakara, Kwaskwasi and Keskesi, and the successfully tested Sapakara South-1 appraisal well.
Located 18 kilometers south-east of Sapakara South, Krabdagu-1 was drilled at a water depth of 780 meters and encountered approximately 90 meters of net oil pay in good quality Maastrichtian and Campanian reservoirs.
“This successful exploration well at Krabdagu-1 is a significant addition to the discovered resources in the central area of Block 58. This result encourages us to continue our exploration and appraisal strategy of this prolific Block 58 in order to identify sufficient resources by year end 2022 for a first oil development” said Kevin McLachlan, Senior Vice President, Exploration at TotalEnergies.
Drilling and logging operations will continue, using the Maersk Valiant drillship. DST operations will be carried out on Krabdagu-1 to appraise the resources and productivity, and at least three further exploration and appraisal wells are planned to be drilled in 2022 on the block.
TotalEnergies is the operator of Block 58, with a 50% working interest, while APA Corporation holds the remaining 50%.
***
About TotalEnergies
TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TotalEnergies SE directly or indirectly owns investments are separate legal entities. TotalEnergies SE has no liability for their acts or omissions. The terms “Company” or “TotalEnergies company” refer collectively to the company TotalEnergies SE and the companies it controls directly or indirectly. Such terms are used solely for the sake of convenience for purposes of the present communication. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Cautionary Note to U.S. Investors — The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this press release, such as resources or net pay, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-10888 available from us at TotalEnergies SE — Tour Coupole — 2, place Jean Millier — Arche Nord Coupole/Regnault — 92078 Paris La Défense Cedex — France, or at our website: www.totalenergies.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website: www.sec.gov.
EXHIBIT 99.13
Disclosure of Transactions in Own Shares
Paris, February 21, 2022 – In accordance with the authorization given by the ordinary shareholders’ general meeting on May 28, 2021 to trade on its shares and pursuant to applicable law on share repurchase, TotalEnergies SE (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from February 14 to February 18, 2022:
Transaction date | Total daily volume (number of shares) |
Daily weighted average purchase price of the shares (EUR/share) |
Amount of transactions (EUR) |
Market (MIC Code) |
14.02.2022 | 338,259 | 51.5544 | 17,438,751.97 | XPAR |
14.02.2022 | 135,000 | 51.5192 | 6,955,095.51 | CEUX |
14.02.2022 | 35,000 | 51.5141 | 1,802,992.63 | TQEX |
14.02.2022 | 35,000 | 51.5188 | 1,803,158.74 | AQEU |
15.02.2022 | 378,938 | 51.0023 | 19,326,723.58 | XPAR |
15.02.2022 | 120,000 | 50.9948 | 6,119,371.32 | CEUX |
15.02.2022 | 25,000 | 51.0827 | 1,277,066.93 | TQEX |
15.02.2022 | 25,000 | 51.0726 | 1,276,814.18 | AQEU |
16.02.2022 | 362,258 | 51.1831 | 18,541,484.18 | XPAR |
16.02.2022 | 115,000 | 51.1783 | 5,885,498.87 | CEUX |
16.02.2022 | 31,000 | 51.1783 | 1,586,527.77 | TQEX |
16.02.2022 | 31,000 | 51.1760 | 1,586,457.09 | AQEU |
17.02.2022 | 561,519 | 50.7551 | 28,499,961.98 | XPAR |
17.02.2022 | - | - | - | CEUX |
17.02.2022 | - | - | - | TQEX |
17.02.2022 | - | - | - | AQEU |
18.02.2022 | 363,311 | 50.6210 | 18,391,161.77 | XPAR |
18.02.2022 | 120,000 | 50.6134 | 6,073,603.80 | CEUX |
18.02.2022 | 30,000 | 50.5830 | 1,517,488.59 | TQEX |
18.02.2022 | 30,000 | 50.5907 | 1,517,719.74 | AQEU |
Total | 2,736,285 | 51.0180 | 139,599,878.61 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the TotalEnergies website: https://totalenergies.com/investors/shares-and-dividends/total-shares/info/company-share-transactions
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
* * * * *
TotalEnergies contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com
EXHIBIT 99.14
PRESS RELEASE
Namibia: TotalEnergies
makes a significant discovery
in offshore Block 2913B
Paris, February 24, 2022 – TotalEnergies has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia.
The Venus 1-X well encountered approximately 84 meters of net oil pay in a good quality Lower Cretaceous reservoir.
“This discovery offshore Namibia and the very promising initial results prove the potential of this play in the Orange Basin, on which TotalEnergies owns an important position both in Namibia and South Africa” said Kevin McLachlan, Senior Vice President Exploration at TotalEnergies. “A comprehensive coring and logging program has been completed. This will enable the preparation of appraisal operations designed to assess the commerciality of this discovery.”
Block 2913B covers approximately 8,215 km² in deep offshore Namibia. TotalEnergies is the operator with a 40% working interest, alongside QatarEnergy (30%), Impact Oil and Gas (20%) and NAMCOR (10%).
***
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Cautionary Note to U.S. Investors — The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this press release, such as resources or net pay, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-10888 available from us at TotalEnergies SE — Tour Coupole — 2, place Jean Millier — Arche Nord Coupole/Regnault — 92078 Paris La Défense Cedex — France, or at our website: www.totalenergies.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website: www.sec.gov.
EXHIBIT 99.15 |
PRESS RELEASE
United-States:
TotalEnergies Wins Maritime Lease
to Develop a 3 GW+ Offshore Wind Farm
on the East Coast of New York and New Jersey
Paris, February 28, 2022 – TotalEnergies has successfully been named a winner of maritime lease area OCS-A 0538 by the BOEM (Bureau of Ocean Energy Management) in the New York Bight auction held end of last week.
This bid for the development of an offshore wind farm off the U.S. East Coast was won for a consideration of US$ 795 million (100%) by both TotalEnergies and EnBW.
Located up to 47 nautical miles (87 kilometers) from the coast, the lease covers a 132 square miles (341 square kilometer) area that could accommodate a generation capacity of at least 3 GW, enough to provide power to about one million homes. The project is expected to come online by 2028.
In addition, EnBW informed TotalEnergies of its strategic decision to refocus its activity on Europe. In this context, TotalEnergies and EnBW have agreed that TotalEnergies will acquire EnBW's interest in this New York Bight concession and will welcome within its own staff the EnBW North America team who has forged strong relationships with local communities in the past few years and will therefore continue to develop this project. In addition, TotalEnergies will acquire from EnBW the predevelopment work undertaken for the upcoming auction off the coast of Central California (Castle Wind project).
“This grand entrance into offshore wind in the U.S. is a major step toward our goal of reaching 100 GW of renewable electricity generation capacity worldwide by 2030. This development adds another dimension to our renewable business in the U.S., currently representing 4 GW of solar farms under development. This is the largest renewable energy project TotalEnergies has ever undertaken and we now have a portfolio of over 10 GW of offshore wind projects, a technology in which we aim to be a world leader by leveraging our offshore expertise." said Patrick Pouyanné, chairman and CEO of TotalEnergies.
The New York Bight project is part of the U.S. government's goal to deploy 30 GW of offshore wind in the U.S. by 2030, in response to the global climate challenge. Locally, it provides a concrete answer to the growing demand for clean energy in New York and New Jersey. Furthermore, TotalEnergies is committed to developing the project in a way that creates local jobs and economic benefits for the local communities.
***
TotalEnergies and offshore wind
TotalEnergies is already developing a portfolio of offshore wind projects with a total capacity of more than 10 GW, of which 2/3 are bottom-fixed and 1/3 are floating. These projects are located in the United Kingdom (Seagreen project, Outer Dowsing, Erebus, ScotWind), South Korea (Bada project), Taiwan (Yunlin project), France (Eolmed project) and the United States (New York Bight project). The Company has also been qualified to participate in competitive tenders in the US, UK and France, and will also participate in a tender in Norway.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
@TotalEnergies TotalEnergies TotalEnergies TotalEnergies
TotalEnergies and renewable electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in renewables and electricity. At the end of 2021, TotalEnergies' gross renewable electricity generation capacity is more than 10 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 producers of electricity from wind and solar energy.
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +44 (0)207 719 7962 l ir@totalenergies.com
Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TotalEnergies SE directly or indirectly owns investments are separate legal entities. TotalEnergies SE has no liability for their acts or omissions. The terms “Company” or “TotalEnergies company” refer collectively to the company TotalEnergies SE and the companies it controls directly or indirectly. Such terms are used solely for the sake of convenience for purposes of the present communication. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
EXHIBIT 99.16
|
Disclosure of Transactions in Own Shares
Paris, February 28, 2022 – In accordance with the authorization given by the ordinary shareholders’ general meeting on May 28, 2021 to trade on its shares and pursuant to applicable law on share repurchase, TotalEnergies SE (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from February 21 to February 25, 2022:
Transaction date | Total
daily volume (number of shares) |
Daily
weighted average purchase price of the shares (EUR/share) |
Amount
of transactions (EUR) |
Market (MIC Code) |
21.02.2022 | 487,009 | 50.2703 | 24,482,094.38 | XPAR |
21.02.2022 | 49,938 | 50.1726 | 2,505,521.15 | CEUX |
21.02.2022 | 25,000 | 50.2449 | 1,256,121.95 | TQEX |
21.02.2022 | 25,000 | 50.2482 | 1,256,204.18 | AQEU |
22.02.2022 | 547,899 | 50.1917 | 27,499,957.58 | XPAR |
22.02.2022 | - | - | - | CEUX |
22.02.2022 | - | - | - | TQEX |
22.02.2022 | - | - | - | AQEU |
23.02.2022 | 551,791 | 49.8376 | 27,499,964.52 | XPAR |
23.02.2022 | - | - | - | CEUX |
23.02.2022 | - | - | - | TQEX |
23.02.2022 | - | - | - | AQEU |
24.02.2022 | 655,026 | 48.0896 | 31,499,944.22 | XPAR |
24.02.2022 | - | - | - | CEUX |
24.02.2022 | - | - | - | TQEX |
24.02.2022 | - | - | - | AQEU |
25.02.2022 | 171,473 | 47.7741 | 8,191,976.31 | XPAR |
25.02.2022 | - | - | - | CEUX |
25.02.2022 | - | - | - | TQEX |
25.02.2022 | - | - | - | AQEU |
Total | 2,513,136 | 49.4171 | 124,191,784.29 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the TotalEnergies website: https://totalenergies.com/investors/shares-and-dividends/total-shares/info/company-share-transactions
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
* * * * *
TotalEnergies contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com
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