Exhibit 1.3
PURCHASE
AGREEMENT
[●], [●]
TotalEnergies Capital Canada Ltd.
12220, Stony Plain Rd – Unit
Edmonton, Alberta T5N 3Y4
Canada
TotalEnergies SE
2, Place Jean Millier
La Défense 6,
92400 Courbevoie
France
Ladies and Gentlemen:
The underwriter(s) named in Schedule I hereto
(such underwriter(s) being herein called the “Reselling Purchaser(s)”) understand(s) that TotalEnergies Capital
Canada Ltd. (the “Company”) and TotalEnergies SE (the “Guarantor”) propose to issue and sell the
debt securities of the Company specified in Schedule V hereto (the “Offered Securities”). Subject to the terms and
conditions set forth or incorporated by reference herein, the Company agrees to sell, and each Reselling Purchaser(s) [severally]
agrees to purchase, the aggregate principal amount of the Offered Securities set forth opposite [its] [each Reselling Purchaser’s]
name in Schedule I hereto at [●]% of their principal amount plus accrued interest, if any, from [●], [●] to the date
of payment and delivery.
The Reselling Purchaser(s) will pay for such
Offered Securities upon delivery thereof at the offices of Latham & Watkins LLP, 885 Third Ave, New York, New York, 10022 or
through the facilities of The Depository Trust Company at 10:00 A.M. (New York time) on [●], [●] (the “Closing
Date”), or at such other time as shall be agreed upon between us.
Unless otherwise expressly specified herein, all
of the provisions contained in the document entitled TotalEnergies Capital Canada Ltd. Purchase Agreement Standard Provisions (2024 Edition)
(the “Standard Provisions”) attached as Annex A hereto are herein incorporated by reference in their entirety and shall
be deemed to be a part of this Agreement to the same extent as if such provisions had been set forth in full herein. Unless otherwise
defined herein, terms defined in the Standard Provisions are used herein as therein defined. Schedule II(a) hereto lists each Permitted
Free Writing Prospectus agreed pursuant to Article V(a) of the Standard Provisions and Schedule II(b) hereto lists any
additional documents incorporated by reference that were filed with the Commission subsequent to the Commission’s close of business
on the business day immediately prior to the date of the execution of this Agreement. Schedule III hereto lists the selling restrictions
applicable to the distribution and sale of the Offered Securities. Schedule IV lists all documents that the Company, the Guarantor and
the Reselling Purchaser(s) agree are to be included in the Pricing Disclosure Package. The final term sheet prepared in accordance
with Article V(c) of the Standard Provisions is attached hereto as Schedule V.
MiFID Product Governance:
Solely for the purposes of the requirements of
Article 9(8) of the MiFID Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance
Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules, each of the Company and [●]
(each a “Manufacturer” and together the “Manufacturers”) acknowledges to each other Manufacturer
that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval
process, the target market and the proposed distribution channels as applying to the Offered Securities and the related information set
out in the Base Prospectus in connection with the Offered Securities. The Reselling Purchasers note the application of the Product Governance
Rules and acknowledge the target market and distribution channels identified as applying to the Offered Securities by the Manufacturers
and the related information set out in the Base Prospectus in connection with the Offered Securities.
Recognition of the U.S. Special Resolution
Regimes:
| (a) | In the event that any Reselling Purchaser that is a Covered Entity becomes subject to a proceeding under
a U.S. Special Resolution Regime (as defined below), the transfer from such Reselling Purchaser of this Agreement, and any interest and
obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special
Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of
the United States. |
| (b) | In the event that any Reselling Purchaser that is a Covered Entity (as defined below) or a BHC Act Affiliate
(as defined below) of such Reselling Purchaser becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights
(as defined below) under this Agreement that may be exercised against such Agent are permitted to be exercised to no greater extent than
such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United
States or a state of the United States. |
“BHC Act Affiliate” has the
meaning assigned to the term “affiliate” in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k).
“Covered Entity” means any
of the following:
| (i) | a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
§ 252.82(b); |
| (ii) | a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
§ 47.3(b); or |
| (iii) | a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
§ 382.2(b). |
“Default Right” has the meaning
assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.
“U.S. Special Resolution Regime”
means each of (i) the Federal Deposit Insurance Act, as amended and the regulations promulgated thereunder and (ii) Title II
of the Dodd-Frank Wall Street Reform and Consumer Protection Act, as amended and the regulations promulgated thereunder.
Bail-In or Loss Absorption Powers:
Notwithstanding and to the exclusion of any other
provision of this Agreement or any other agreements, arrangements or understandings, in the event that a Reselling Purchaser (each a “BRRD
Party”, and together the “BRRD Parties”) becomes subject to the exercise of Bail-in Powers under an applicable
Bail-in Legislation, each of the other BRRD Parties, the Company and the Guarantor acknowledge and accept that a BRRD Liability arising
under this Agreement may be subject to the exercise of Bail-in Powers by the Relevant Resolution Authority, and acknowledges, accepts
and agrees to be bound by:
| (a) | the effect of the exercise of such powers in relation to any BRRD Liability of such BRRD Party arising
under this Agreement that (without limitation) may include and result in any of the following, or some combination thereof: |
| (i) | the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon; |
| (ii) | the conversion of all, or a portion, of the BRRD Liability into shares, other securities, or other obligations
of such BRRD Party or another person (and the issue to or conferral on the other BRRD Parties of such shares, securities or obligations),
including by means of an amendment, modification or variation of the terms of this Agreement; |
| (iii) | the cancellation of the BRRD Liability; |
| (iv) | the amendment or alteration of the amounts due in relation to the BRRD Liability, including any interest,
if applicable, thereon, or the dates on which any payments are due, including by suspending payment for a temporary period; |
| (b) | the variation of the terms of this Agreement, as deemed necessary by the Relevant Resolution Authority,
to give effect to the exercise of such Bail-in Powers by the Relevant Resolution Authority. |
For purposes of this Agreement:
“Bail-in Legislation” means
in relation to the UK or a member state of the EEA which has implemented, or which at any time implements, the BRRD, the relevant implementing
law, regulation, rule or requirement as described in the EU Bail-in Legislation Schedule from time to time, or Part I of the
UK Banking Act 2009 and any other law, regulation, rule or requirement applicable from time to time in the UK relating to the resolution
of unsound or failing banks, investment firms or other financial institutions or their affiliates (otherwise than through liquidation,
administration or other insolvency proceedings).
“Bail-in Powers” means any
Write-down and Conversion Powers as defined in relation to the relevant Bail-in Legislation.
“BRRD” means Directive 2014/59/EU
establishing a framework for the recovery and resolution of credit institutions and investment firms, as amended, including by Directive
2019/879/EU of May 20, 2019.
“EEA” means the European Economic
Area.
“EU Bail-in Legislation Schedule”
means the document described as such, then in effect, and published by the Loan Market Association (or any successor person) from time
to time at http://www.lma.eu.com/.
“BRRD Liability” has the same
meaning as in such laws, regulations, rules or requirements implementing the BRRD under the applicable Bail-in Legislation.
“Relevant Resolution Authority”
means the resolution authority with the ability to exercise any Bail-in Powers in relation to the Relevant BRRD Party.
“UK” means the United Kingdom.
“Write-down and Conversion Powers”
means the powers under the Bail-In Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm
or affiliate of a bank or investment firm, to cancel, reduce, modify or change the form of a liability of such a person or any contract
or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that
person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it
or to suspend any obligation in respect of that liability.
For purposes of this Agreement and the Standard
Provisions, the “Applicable Time” is [●]:[●] [A./P.]M. New York time on the date hereof.
[All provisions of this Agreement, including those
incorporated by reference, that require that notices or documents be furnished to each “Purchaser” or “Reselling Purchaser”,
or that each “Purchaser” or “Reselling Purchaser” provide its authorization or consent, shall be deemed to have
been satisfied if such notices or documents are furnished to, or such consent or authorization is provided by, [Lead Manager(s)], on behalf
of each “Purchaser” or “Reselling Purchaser”.][To be used in the event of a syndicated offering.]
This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Delivery of this Agreement
by one party to the other may be made by facsimile, electronic mail (including any electronic signature complying with the New York Electronic
Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) or other transmission
method, and the parties hereto agree that any counterpart so delivered shall be deemed to have been duly and validly delivered and be
valid and effective for all purposes.
IN WITNESS WHEREOF, the parties hereto have, by
duly authorized directors, officers or attorneys-in-fact, executed this Agreement as of the date first above written.
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TOTALENERGIES CAPITAL CANADA LTD. |
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By: |
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Name: |
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Title: |
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TOTALENERGIES SE |
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By: |
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Name: |
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Title: |
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[RESELLING PURCHASER(S)] |
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[Reselling Purchaser(s)] |
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SCHEDULE I TO PURCHASE AGREEMENT
| Reselling Purchaser | |
Principal Amount of
Offered Securities |
| [●] | |
$ |
[●] |
| Total | |
$ |
[●] |
SCHEDULE II TO PURCHASE AGREEMENT
(a) Permitted
Free Writing Prospectuses agreed pursuant to Article V(a) of the Standard Provisions
Issuer Free Writing Prospectuses
Final Term Sheet attached to the
Purchase Agreement as Schedule V
[●]
(b) Additional
documents incorporated by reference
[●]
SCHEDULE III TO PURCHASE AGREEMENT
Selling Restrictions
European Economic Area
Each Reselling Purchaser hereby represents and
agrees that it has not offered, sold or otherwise made available, and will not offer, sell or otherwise make available, any Offered Securities
to any retail investor in the European Economic Area (“EEA”). For the purposes of this provision:
| (a) | the expression “retail investor” means a person
who is one (or more) of the following: |
| (i) | a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended,
“MiFID II”); or |
| (ii) | a customer within the meaning of Directive 2016/97/EU (as amended, the “Insurance Distribution
Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of
MiFID II; or |
| (iii) | not a qualified investor as defined in Regulation (EU) 2017/1129 (as amended, the “Prospectus
Regulation”); and |
| (b) | the expression “offer” includes the communication in any form and by any means of sufficient
information on the terms of the offer and the Offered Securities so as to enable an investor to decide to purchase or subscribe the Offered
Securities. |
This EEA selling restriction is in addition to
the other selling restrictions set out below.
No key information document required by Regulation
(EU) No 1286/2014 (the “PRIIPs Regulation”) for offering or selling any in-scope instruments or otherwise making them
available to retail investors in the EEA has been prepared. Offering or selling the Offered Securities or otherwise making them available
to any retail investor in the EEA may be unlawful.
France
The Reselling Purchaser(s) agree(s) that
the Offered Securities are being issued outside of France.
Each Reselling Purchaser hereby represents, warrants
and agrees that it has not offered or sold and will not offer or sell, directly or indirectly, the Offered Securities to the public in
France (offre au public de titres financiers), and neither the prospectus supplement nor any offering or marketing materials relating
to the Offered Securities may be made available or distributed in any way that would constitute, directly or indirectly, an offer to the
public in France. The Offered Securities shall only be offered or sold in France to qualified investors (investisseurs qualifiés)
within the meaning of Article 2(e) of Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”),
and in accordance with Articles L. 411-1 and L. 411-2 of the French Code Monétaire et Financier.
United Kingdom
Each Reselling Purchaser has represented and agreed
that it has not offered, sold or otherwise made available and will not offer, sell or otherwise make available any Offered Securities
in to any retail investor in the United Kingdom. For the purposes of this provision:
| (a) | the expression “retail investor” means a
person who is one (or more) of the following: |
| (i) | a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“EUWA”); or |
| (ii) | a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the “FSMA”)
and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a
professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of UK domestic
law by virtue of the EUWA; or |
| (iii) | not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of
UK domestic law by virtue of the EUWA; and |
| (b) | the expression an “offer” includes the communication in any form and by any means of sufficient
information on the terms of the offer and the Offered Securities to be offered so as to enable an investor to decide to purchase or subscribe
for the Offered Securities. |
Each Reselling Purchaser hereby represents, warrants
and agrees that:
| (a) | it has only communicated or caused to be communicated and will only communicate or cause to be communicated
an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) received by it in connection
with the issue or sale of any Offered Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company
or the Guarantor; and |
| (b) | it has complied and will comply with all applicable provisions of the FSMA with respect to anything done
by it in relation to any Offered Securities in, from or otherwise involving the United Kingdom. |
Canada
Each Reselling Purchaser hereby represents, warrants
and agrees that:
| (a) | any offer, sale or distribution of the Offered Securities in Canada has and will be made only to only
to purchasers that are “accredited investors” (as such term is defined in section 1.1 of National Instrument 45-106 Prospectus
Exemptions (“NI 45-106”) or, in Ontario, as such term is defined in section 73.3(1) of the Securities Act
(Ontario)), that are also “permitted clients” (as such term is defined in section 1.1 of National Instrument 31-103 Registration
Requirements, Exemptions and Ongoing Registrant Obligations), that are purchasing as principal, or are deemed to be purchasing as
principal in accordance with applicable Canadian securities laws, and that are not a person created or used solely to purchase or hold
Offered Securities as an “accredited investor” as described in paragraph (m) of the definition of “accredited investor”
in section 1.1 of NI 45-106; |
| (b) | either (I) it is appropriately registered under applicable Canadian securities laws in each relevant
province or territory to sell and deliver the Offered Securities, (II) such sale and delivery will be made through an affiliate of
it that is so registered if the affiliate is registered in a category that permits such sale and has agreed to make such sale and delivery
in compliance with the representations, warranties and agreements set out herein, or (III) it is relying on an exemption from the
dealer registration requirements under applicable Canadian securities laws and has complied with the requirements of that exemption; and |
| (c) | it has not and will not distribute or deliver the prospectus supplement, or any other offering material
in connection with any offering of the Offered Securities, in Canada or to a resident of Canada or to any person subject to the securities
laws of any province or territory of Canada, other than in compliance with applicable Canadian securities laws. |
Hong Kong
Each Reselling Purchaser (i) has not offered
or sold and will not offer or sell in Hong Kong, by means of any document, any Offered Securities other than (a) to “professional
investors” as defined in the Securities and Futures Ordinance (Cap. 571) of Hong Kong (the “SFO”) and any rules made
under that Ordinance; or (b) in other circumstances which do not result in the document being a “prospectus” as defined
in the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong or which do not constitute an offer to the
public within the meaning of that Ordinance; and (ii) has not issued or had in its possession for the purposes of issue, and will
not issue or have in its possession for the purposes of issue, whether in Hong Kong or elsewhere, any advertisement, invitation or document
relating to the Offered Securities, which is directed at, or the contents of which are likely to be accessed or read by, the public of
Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to the Offered Securities which
are or are intended to be disposed of only to persons outside Hong Kong or only to “professional investors” as defined in
the SFO and any rules made under that Ordinance.
Japan
The Offered Securities have not been and will
not be registered under the Financial Instruments and Exchange Act Law of Japan (Act no. 25 of 1948, as amended, the “FIEA”),
and each Reselling Purchaser has represented and agreed that it has not, directly or indirectly, offered or sold and will not, directly
or indirectly, offer or sell the Offered Securities in Japan or to, or for the benefit of, any “resident” of Japan (as defined
under Item 5, Paragraph 1, Article 6 of the Foreign Exchange and Foreign Trade Control Law no. 228 of 1949, as amended), or to others
for re-offering or resale, directly or indirectly, in Japan or to or for the benefit of any resident in Japan, except pursuant to an exemption
from the registration requirements of, and otherwise in compliance with, the FIEA and any other applicable laws, regulations and ministerial
guidelines of Japan.
Singapore
Each Reselling Purchaser has acknowledged that
the prospectus supplement and the accompanying prospectus have not been registered as a prospectus with the Monetary Authority of Singapore.
Accordingly, each Reselling Purchaser has represented and agreed that it has not offered or sold any Offered Securities or caused the
Offered Securities to be made the subject of an invitation for subscription or purchase and will not offer or sell any Offered Securities
or cause the Offered Securities to be made the subject of an invitation for subscription or purchase, and has not circulated or distributed,
nor will it circulate or distribute, the prospectus supplement and the accompanying prospectus or any other document or material in connection
with the offer or sale, or invitation for subscription or purchase, of the Offered Securities, whether directly or indirectly, to any
person in Singapore other than (i) to an institutional investor (as defined in Section 4A of the Securities and Futures Act
2001 of Singapore, as modified or amended from time to time (the “SFA”)) pursuant to Section 274 of the SFA, (ii) to
a relevant person (as defined in Section 275(2) of the SFA) pursuant to Section 275(1) of the SFA, or any person pursuant
to Section 275(1A) of the SFA, and in accordance with the conditions specified in Section 275 of the SFA or (iii) otherwise
pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.
Where the
Offered Securities are subscribed or purchased under Section 275 of the SFA by a relevant
person which is:
| (a) | a corporation (which is not an accredited investor (as defined
in Section 4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one
or more individuals, each of whom is an accredited investor; or |
| (b) | a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and
each beneficiary of the trust is an individual who is an accredited investor, securities or securities-based derivatives contracts (each
term as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries’ rights and interest (howsoever described)
in that trust shall not be transferred within six months after that corporation or that trust has acquired the Offered Securities pursuant
to an offer made under Section 275 of the SFA except: |
| (1) | to an institutional investor or to a relevant person, or to any
person arising from an offer referred to in Section 275(1A) or Section 276(4)(c)(ii) of
the SFA; |
| (2) | where no consideration is or will be given for the transfer; |
| (3) | where the transfer is by operation of law; |
| (4) | as specified in Section 276(7) of the SFA; or |
| (5) | as specified in Regulation 37A of the Securities and Futures (Offers
of Investments (Securities and Securities-based Derivatives Contracts) Regulations 2018. |
Singapore
Securities and Futures Act Product Classification – Solely for the purposes of its obligations pursuant to sections 309B(1)(a) and
309B(1)(c) of the SFA the issuer of the Offered Securities has determined, and hereby
notifies all relevant persons (as defined in Section 309A of the SFA) that the Offered Securities are
“prescribed capital markets products” (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018)
and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16:
Notice on Recommendations on Investment Products).
Switzerland
The prospectus supplement is not intended to constitute
an offer or solicitation to purchase or invest in the Offered Securities. The Offered Securities may not be publicly offered, sold or
marketed, directly or indirectly, in or into Switzerland within the meaning of the Swiss Financial Services Act (“FinSA”),
except to any investor that qualifies as a professional client within the meaning of the FinSA, and no application has or will be made
to admit the Offered Securities to trading on any trading venue (exchange or multilateral trading facility) in Switzerland. Neither the
prospectus supplement nor any other offering or marketing material relating to the Offered Securities constitutes a prospectus or a KID
(or an equivalent document) as such terms are understood pursuant to the FinSA, and neither the prospectus supplement nor any other offering
or marketing material relating to the Offered Securities may be publicly distributed or otherwise made publicly available in Switzerland,
except to any investor that qualifies as a professional client within the meaning of the FinSA.
Neither the prospectus supplement nor any other
marketing or offering material relating to the Offered Securities has been or will be filed with, or reviewed or approved by, a Swiss
review body, and does not comply with the disclosure requirements applicable to a prospectus within the meaning of the FinSA.
Taiwan
The Offered Securities have not been and will
not be registered or filed with, or approved by, the Financial Supervisory Commission of Taiwan, the Republic of China (“Taiwan”),
pursuant to relevant securities laws and regulations and may not be offered or sold in Taiwan through a public offering or in any manner
which would constitute an offer within the meaning of the Securities and Exchange Act of Taiwan or would otherwise require registration
or filing with or the approval of the Financial Supervisory Commission of Taiwan. No person or entity in Taiwan has been authorized to
offer, sell, give advice regarding or otherwise intermediate the offering and sale of the Offered Securities in Taiwan.
Dubai International Financial Centre
Each Reselling Purchaser has represented and agreed
that it has not offered and will not offer the Offered Securities to be issued to any person in the Dubai International Financial Centre
unless such offer is:
| (a) | an “Exempt Offer” in accordance with the Markets Rules (MKT) Module of the Dubai Financial
Services Authority (the “DFSA”) rulebook; and |
| (b) | made only to persons who meet the Professional Client criteria set out in Rule 2.3.3 of the Conduct
of Business (COB) Module of the DFSA rulebook and who are not a natural person. |
Abu Dhabi Global Market
Each Reselling Purchaser has represented and agreed
that it has not offered and will not offer the Offered Securities to be issued to any person in the Abu Dhabi Global Market unless such
offer is:
| (a) | an “Exempt Offer” in accordance with the Markets Rules of the Financial Services Regulatory
Authority (the “FSRA”); |
| (b) | made only to persons who are Authorised Persons or Recognised Bodies (as such terms are defined in the
FSRA Financial Services and Markets Regulation 2015 (“FSMR”)) or persons to whom an invitation or inducement to engage
in investment activity (within the meaning of section 18 of FSMR) in connection with the issue or sale of any securities may otherwise
lawfully be communicated or caused to be communicated; and |
| (c) | made only to persons who meet the Professional Client criteria set out in Rule 2.4.1 of the FSRA
Conduct of Business Rules. |
South Korea
The Offered Securities have not been and will
not be registered for public offering under the Financial Investments Services and Capital Markets Act of Korea (the “FSCMA”).
Accordingly, each Reselling Purchaser represents and agrees that (i) the number of residents in Korea (as defined in the Foreign
Exchange Transactions Law of Korea (“FETL”) and its Enforcement Decree) and persons in Korea to whom the Offered Securities
have been and will be offered shall be fewer than 50 (as calculated in accordance with the Enforcement Decree of the FSCMA), and (ii) the
number of Offered Securities (where, for this purpose, the minimum specified denomination of the Offered Securities, as specified in the
Prospectus Supplement, shall constitute one Offered Security) offered in Korea or to a resident in Korea shall be fewer than 50. Furthermore,
the Offered Securities shall not be divided or redenominated within one year from the issuance. Except for the Offered Securities offered
in Korea or to a resident in Korea in accordance with the aforementioned restriction, none of the Offered Securities may be offered, sold
and delivered directly or indirectly, or offered or sold to any person for re-offering or resale, directly or indirectly, in Korea or
to any resident of Korea within one year from the issuance of the Offered Securities, except pursuant to the applicable laws and regulations
of Korea. Furthermore, the purchaser of the Offered Securities shall comply with all applicable regulatory requirements (including but
not limited to requirements under the FETL) in connection with the purchase of the Offered Securities.
[Add other selling restrictions, if appropriate.]
SCHEDULE IV TO PURCHASE AGREEMENT
Pricing Disclosure Package
Pricing Prospectus
Final Term Sheet attached to the Purchase Agreement
as Schedule V
[●]
SCHEDULE V TO PURCHASE AGREEMENT
Final Term Sheet
TotalEnergies Capital Canada Ltd.
(A wholly-owned subsidiary of TotalEnergies
SE)
$[●] [●]% Guaranteed Notes
Due [●]
Guaranteed on an unsecured, unsubordinated basis
by TotalEnergies SE
| Issuer |
TotalEnergies Capital Canada Ltd. |
| Guarantee |
Payment of the principal of, premium, if any, and interest on the notes is guaranteed by TotalEnergies SE |
| Format |
SEC-registered global notes |
| Title |
$[●] [●]% Notes Due [●] (the “Notes”) |
| Total Initial Principal Amount Being Issued |
$[●] |
| Issue Price |
[●]% |
| Pricing Date |
[●] |
| Expected Settlement Date |
[●] (T+[●]) |
| Maturity Date |
[●], unless earlier redeemed |
| Day Count |
[30/360] |
| Day Count Convention |
Following, unadjusted |
| Optional Redemption Terms |
Prior to [●] ([●] months prior to their maturity), make-whole call at any time at a discount rate of the Treasury Rate plus [●] basis points; par call at any time on or after [●]. |
| |
Tax call at par |
| Interest Rate |
[●]% per annum |
| Benchmark Treasury |
[●]% due [●] |
| Benchmark Treasury Price |
[●]-[●] |
| Benchmark Treasury Yield |
[●]% |
| Spread To Benchmark Treasury |
[●] bps |
| Yield To Maturity |
[●]% |
| Date Interest Starts Accruing |
[●] |
| Interest Payment Dates |
Each [●] and [●] |
| First Interest Payment Date |
[●] |
| Regular Record Dates For Interest |
Each [●] and [●] |
| Trustee |
The Bank of New York Mellon |
| Listing |
None |
| Denominations |
$[●] and increments of $[●] |
| Expected Ratings Of The Notes |
Moody’s: [●] |
| |
Standard & Poor’s: [●] |
| |
Ratings are not a recommendation to purchase,
hold or sell notes, inasmuch as the ratings do not comment as to market price or suitability for a particular investor.
The ratings are based upon current information
furnished to the rating agencies by
TotalEnergies Capital Canada Ltd. and TotalEnergies
SE and information obtained by the rating agencies from other sources. The ratings are only accurate as of the date thereof and may be
changed, superseded or withdrawn as a result of changes in, or unavailability of, such information, and therefore a prospective purchaser
should check the current ratings before purchasing the notes. Each rating should be evaluated independently of any other rating. |
| CUSIP / ISIN |
[●]/[●] |
| Selling Restrictions |
[European Economic Area, France, United Kingdom, Canada, Hong Kong, Japan, Singapore, Switzerland, Taiwan, Dubai International Financial Centre, Abu Dhabi Global Market [,][and] South Korea [and Other]] |
| Managers |
[●] |
[Other terms]
The issuer has filed a registration statement
including a prospectus and a prospectus supplement with the Securities and Exchange Commission (“SEC”) for the offering to
which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement
and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may obtain
these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any
dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request them by calling
[●] toll-free at +[●].
ANNEX A TO THE PURCHASE AGREEMENT
TotalEnergies Capital Canada Ltd.
PURCHASE AGREEMENT STANDARD PROVISIONS
(2024 Edition)
From time to time, TotalEnergies Capital Canada
Ltd. a corporation incorporated under the laws of Alberta, Canada (the “Company”), may enter into one or more purchase
agreements (each a “Purchase Agreement”) that provide for the sale of designated securities to the purchaser or purchasers
named therein (each a “Purchaser”). The standard provisions set forth herein may be incorporated by reference in any
such Purchase Agreement. The Purchase Agreement relating to any particular sale of Offered Securities, including the provisions incorporated
therein by reference, is herein referred to as this “Agreement”. Unless otherwise defined herein, terms defined in such Purchase
Agreement are used herein as defined in the Purchase Agreement.
I.
The Company proposes to issue debt securities
(the “Securities”) from time to time pursuant to the provisions of an Indenture to be entered into among the Company,
TotalEnergies SE (the “Guarantor”) and The Bank of New York Mellon, as trustee (the “Trustee”),
on or before the Closing Date (as defined below). Pursuant to the Indenture, the Guarantor will guarantee payment of the principal of
(and premium, if any) and interest on the Securities (the obligations of the Guarantor in respect of any Offered Securities is referred
to as the “Guarantee”). The Securities may have varying designations, maturities, rates and times of payment of interest,
selling prices and redemption and other terms.
II.
If a Purchaser advises the Company and the Guarantor
in the Purchase Agreement that it intends to resell the Offered Securities, the Company and the Guarantor will provide assistance as hereinafter
provided. The terms of any such resale will be set forth in the Prospectus. The provisions of Articles V, VII, VIII, X and XI of this
Agreement will apply only to a Purchaser advising the Company and the Guarantor in accordance with the first sentence of this Article II
(a “Reselling Purchaser”).
III.
Payment for the Offered Securities shall be made
by wire transfer or by certified or official bank check or checks payable to the order of the Company in immediately available Federal
funds or in New York Clearing House funds as agreed to by the parties and at the time and place set forth in the Purchase Agreement, upon
delivery to the Reselling Purchaser of the Offered Securities registered in such names and in such denominations as the Reselling Purchaser
shall request in writing not less than one full business day prior to the date of delivery. The time and date of such payment and delivery
with respect to the Offered Securities are herein referred to as the “Closing Date”.
IV.
The Company and the Guarantor jointly and severally
represent and warrant to, and agree with each Purchaser, as of the date of the Purchase Agreement, that:
| (a) | An “automatic shelf registration statement” as defined under Rule 405 under the Securities
Act of 1933, as amended (the “Securities Act”), on Form F-3 (File No. 333-[●]) relating to the Securities
to be issued from time to time by the Company has been filed with the U.S. Securities and Exchange Commission (the “Commission”)
not earlier than three years prior to the date of the applicable Pricing Prospectus; such registration statement and any post-effective
amendment thereto became effective on filing; no stop order suspending the effectiveness of such registration statement, any post-effective
amendment thereto or any part thereof has been issued and no proceeding for that purpose has been initiated or, to the knowledge of the
Company and the Guarantor, threatened by the Commission, and no notice of objection of the Commission to the use of such registration
statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act has been received by either
the Company or the Guarantor. For purposes of this Agreement: |
| (i) | the base prospectus filed as part of such registration statement, in the form in which it has most recently
been filed with the Commission on or prior to the date of the applicable Purchase Agreement relating to the Offered Securities, is hereinafter
referred to as the “Base Prospectus”; |
| (ii) | any preliminary form of prospectus (including any preliminary prospectus supplement) relating to the Securities
filed with the Commission pursuant to Rule 424(b) under the Securities Act is hereinafter referred to as a “Preliminary
Prospectus”; |
| (iii) | the various parts of such registration statement, including all exhibits thereto (but excluding Form T-1)
and including any prospectus supplement relating to the Securities that is filed with the Commission and deemed by virtue of Rule 430B
to be part of such registration statement, each as amended at the time such part of the registration statement became effective, are hereinafter
collectively referred to as the “Registration Statement”; |
| (iv) | the Base Prospectus, as amended and supplemented (by any Preliminary Prospectus or otherwise) immediately
prior to the Applicable Time (as defined in the applicable Purchase Agreement with respect to the Offered Securities), is hereinafter
referred to as the “Pricing Prospectus”; |
| (v) | the form of the final prospectus relating to the Offered Securities filed with the Commission pursuant
to Rule 424(b) under the Securities Act in accordance with Article VII(a) hereof, is hereinafter referred to as the
“Prospectus”; |
| (vi) | any reference in this Agreement to the Base Prospectus, the Pricing Prospectus, any Preliminary Prospectus
or the Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to the applicable form
under the Securities Act, as of the date of such prospectus; |
| (vii) | any reference to any amendment or supplement to the Base Prospectus, any Preliminary Prospectus or the
Prospectus shall be deemed to refer to and include any post-effective amendment to the Registration Statement, any prospectus supplement
relating to the Offered Securities filed with the Commission pursuant to Rule 424(b) under the Securities Act and any documents
filed under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and incorporated therein, in each
case after the date of the Base Prospectus, such Preliminary Prospectus or the Prospectus, as the case may be; |
| (viii) | any reference to any amendment to the Registration Statement shall be deemed to refer to and include any
annual report or Form 6-K of the Guarantor filed pursuant to Section 13(a) or 15(d) of the Exchange Act after the
effective date of the Registration Statement that is incorporated by reference in the Registration Statement; and |
| (ix) | the “Applicable Time” is the time specified as such in the applicable Purchase Agreement. |
| (b) | No order preventing or suspending the use of any Preliminary Prospectus or any “issuer free writing
prospectus” as defined in Rule 433 under the Securities Act relating to the Securities (an “Issuer Free Writing Prospectus”)
has been issued by the Commission, and each Preliminary Prospectus, at the time of filing thereof, conformed in all material respects
to the requirements of the Securities Act and the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”),
and the rules and regulations of the Commission thereunder, and did not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements
or omissions made in reliance upon and in conformity with information furnished in writing to the Company or the Guarantor by any Reselling
Purchaser expressly for use therein. |
| (c) | The Pricing Prospectus as supplemented by the final term sheet prepared and filed pursuant to Article V(c) hereof
and any Issuer Free Writing Prospectus listed in Schedule IV to the applicable Purchase Agreement (collectively, the “Pricing
Disclosure Package”) as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any
material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading;
and each Issuer Free Writing Prospectus agreed pursuant to Article V(a) hereof and listed on Schedule II(a) to the applicable
Purchase Agreement does not conflict with the information contained or incorporated by reference in the Registration Statement, the Pricing
Prospectus or the Prospectus, and each such Issuer Free Writing Prospectus, as supplemented by, and taken together with, the Pricing Disclosure
Package as of the Applicable Time, did not include any untrue statement of material fact or omit to state any material fact necessary
in order to make the statements therein, in light of the circumstances under which they were made, not misleading; and neither the Company
nor the Guarantor has used any Issuer Free Writing Prospectuses other than those listed on Schedule II(a) and Schedule IV to the
applicable Purchase Agreement; provided, however, that this representation and warranty shall not apply to statements or omissions
made in the Pricing Disclosure Package or an Issuer Free Writing Prospectus in reliance upon and in conformity with information furnished
in writing to the Company or the Guarantor by any Reselling Purchaser expressly for use therein. |
| (d) | The documents incorporated by reference in the Pricing Prospectus and Prospectus, when they became effective
or were filed with the Commission, as the case may be, conformed in all material respects to the requirements of the Securities Act or
the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder, and none of such documents contained
an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading; and any further documents so filed and incorporated
by reference in the Prospectus or any further amendment or supplement thereto, when such documents become effective or are filed with
the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act or the Exchange Act,
as applicable, and the rules and regulations of the Commission thereunder and will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements
or omissions made in reliance upon and in conformity with information furnished in writing to the Company or the Guarantor by any Reselling
Purchaser expressly for use therein; and no such documents were filed with the Commission since the Commission’s close of business
on the business day immediately prior to the date of the Purchase Agreement and prior to the execution of the Purchase Agreement, except
as set forth on Schedule II(b) to the Purchase Agreement. |
| (e) | The Registration Statement conforms, and the Prospectus and any further amendments or supplements to the
Registration Statement or the Prospectus will conform, in all material respects to the requirements of the Securities Act and the Trust
Indenture Act and the rules and regulations of the Commission thereunder and do not and will not, as of the applicable effective
date as to each part of the Registration Statement and as of the applicable filing date as to the Prospectus and any amendment or supplement
thereto, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to
make the statements therein not misleading; provided, however, that this representation and warranty shall not apply to any statements
or omissions made in reliance upon and in conformity with information furnished in writing to the Company or the Guarantor by any Reselling
Purchaser expressly for use therein. |
| (f) | The Company is validly existing as a corporation and is in good standing under the laws of Alberta Canada.
The Guarantor is validly existing as a societas europaea and is in good standing under the laws of France. Each of the Company
and the Guarantor has all the requisite power and authority to execute, deliver and perform its obligations under the Offered Securities,
the Purchase Agreement, the Indenture, and in the case of the Guarantor, the Guarantee. |
| (g) | The Guarantor has taken all necessary corporate action required by its statuts and by the laws
of France to authorize the execution of the Purchase Agreement, the Indenture and the Guarantee. The Company has taken all necessary corporate
action required by its articles of incorporation, its by-laws and by the Business Corporations Act (Alberta) to authorize the execution
of the Purchase Agreement and the Indenture and the issuance and sale of the Offered Securities. |
| (h) | The Purchase Agreement has been duly authorized, executed and delivered by each of the Company and the
Guarantor. |
| (i) | The Indenture, when executed and delivered, will be duly authorized, executed and delivered by each of
the Company and the Guarantor and will constitute a valid and legally binding obligation of the Company and the Guarantor, and the Indenture
has been duly qualified under the Trust Indenture Act. |
| (j) | The Offered Securities to be issued by the Company and the Guarantee to be issued by the Guarantor have
been duly authorized, and when issued, delivered and authenticated, as provided in the Indenture, will be duly and validly issued and
will constitute legal, valid and binding obligations enforceable against the Company and the Guarantor in accordance with their terms,
subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally, and subject, as to enforceability,
to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law) and entitled to the
benefits of the Indenture. |
| (k) | The Offered Securities to be issued by the Company will rank at least pari passu with all of the
Company’s other unsecured and unsubordinated indebtedness. The obligations of the Guarantor in respect of the Guarantee will rank
at least pari passu with all other unsecured and unsubordinated indebtedness of the Guarantor. |
| (1) | No consent, approval, authorization or order of, or filing with, any regulatory authority in the United
States of America, France or Canada is legally required for the execution of the Indenture, the issuance and sale of the Offered Securities
to the Reselling Purchasers pursuant to the Purchase Agreement or the execution of the Guarantee by the Guarantor, other than the filings
with, and the orders of, the Commission in connection with the registration of the Offered Securities and the Guarantee under the Securities
Act and the qualification of the Indenture under the Trust Indenture Act, and a filing with, and an order from, applicable Canadian securities
regulators in respect of the qualification of the Trustee under the Indenture under the Business Corporations Act (Alberta), except that
the offer and sale of the Offered Securities in certain jurisdictions may be subject to the provisions of the securities or Blue Sky laws
of such jurisdictions. |
| (m) | Neither the execution of the Purchase Agreement and the Indenture, nor the issuance of the Offered Securities
or the Guarantee, nor the fulfillment of or compliance with the terms and provisions hereof or thereof by the Company and the Guarantor,
will (i) result in the creation or imposition of any mortgage, lien, charge or encumbrance of any nature whatsoever upon any of its
properties or assets, or (ii) violate or result in a breach or a default under any of the terms of its statuts or articles
of incorporation, as applicable, certificate of incorporation, by-laws and similar documents, any contract or instrument to which
it is a party or by which it or its property is bound, or, subject to the receipt by the Company of an order from applicable Canadian
securities regulators in respect of the qualification of the Trustee under the Indenture under the Business Corporations Act (Alberta),
any law or regulation, or any order, writ, injunction or decree of any court or government instrumentality, to which it is subject or
by which it or its property is bound, which breach or default would have a material adverse effect on its condition (financial or otherwise)
or operations or its ability to perform its obligations under the Purchase Agreement, the Offered Securities, the Indenture or the Guarantee,
or the validity of the Offered Securities. |
| (n) | Except as disclosed in the Pricing Prospectus and the Prospectus, there is no litigation or governmental
proceeding pending, or to its actual knowledge threatened, against or affecting the Guarantor or any of its subsidiaries that would result
in a material adverse change in its condition (financial or otherwise) or operations or its ability to perform its obligations under the
Purchase Agreement, the Offered Securities issued by the Company, the Indenture or, in the case of the Guarantor, the Guarantee. |
| (o) | Neither the Company nor the Guarantor is an “investment company” or an entity “controlled”
by an “investment company” within the meaning of the Investment Company Act of 1940, as amended. |
| (p) | The statements set forth in the Pricing Prospectus and the Prospectus under the heading “Tax Considerations”,
to the extent that they purport to summarize certain provisions of the United States federal income tax law and regulations the French
tax law and regulations or the Canadian federal income tax law and regulations, constitute a fair summary of such provisions in all material
respects. |
| (q) | Except as described in the Pricing Prospectus and the Prospectus, there are no stamp, registration, issuance,
transfer or other similar taxes or duties imposed or payable in France, Canada or the United States or any political subdivision or taxing
authority thereof or therein by or on behalf of the Reselling Purchasers in connection with (A) the creation, issuance, sale and
delivery of the Offered Securities to or for the account of the Reselling Purchasers in the manner contemplated in the Purchase Agreement,
(B) the sale and delivery by the Reselling Purchasers of the Offered Securities to the purchasers thereof in connection with the
distribution of the Offered Securities in the manner contemplated in the Purchase Agreement or (C) the execution and delivery of
the Purchase Agreement and the consummation of the transactions contemplated hereby and thereby (provided such sale and delivery
is not recorded in a deed registered in France). |
| (r) | Payments made by the Company in respect of the Offered Securities and by the Guarantor in respect of the
Guarantee may be made to holders of Securities that are not Shareholders of the Company without withholding or deduction for or on account
of any taxes, duties, assessments or charges of whatever nature imposed or levied by or on behalf of the French Republic or any political
subdivision or authority thereof or therein provided that they are not paid to a person incorporated, domiciled, established, acting
through a branch or to an account opened in a non-cooperative State or territory within the meaning of article 238-0 A of the French tax
code (Code général des impôts), as amended from time to time. |
| (s) | Provided that the holders of the Securities deal, at all relevant times, with the Company and the Guarantor
at arm’s length, within the meaning of the Income Tax Act (Canada), interest payments made by the Company in respect of the Offered
Securities and by the Guarantor in respect of the Guarantee may be made to holders of the Securities without withholding or deduction
for or on account of any taxes, duties, assessments or charges of whatever nature imposed or levied by or on behalf of Canada or any political
subdivision or authority thereof or therein. |
| (t) | (i) At the time of the filing of the Registration Statement, (ii) at the time of the most recent
amendment thereto for the purposes of complying with Section 10(a)(3) of the Securities Act (whether such amendment was by post-effective
amendment, incorporated report filed pursuant to Sections 13(a) or 15(d) of the Exchange Act or form of prospectus) and (iii) at
the time either of the Company or the Guarantor or any person acting on its behalf (within the meaning of, for this clause only, Rule 163(c) under
the Securities Act) made any offer relating to the Offered Securities in reliance on the exemption provided by Rule 163, each of
the Company and the Guarantor was a “well-known seasoned issuer” as defined in Rule 405 under the Securities Act, including
not having been an “ineligible issuer” as defined in Rule 405. |
| (u) | (i) At the earliest time after the filing of the Registration Statement that the Company, the Guarantor
or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Securities Act)
of the Offered Securities and (ii) at the date of the Purchase Agreement, neither the Company nor the Guarantor was, nor is, an “ineligible
issuer,” as defined in Rule 405 under the Securities Act. |
| (v) | Except as otherwise disclosed in the Pricing Prospectus and the Prospectus [or as otherwise disclosed
to the Reselling Purchasers], neither the Company nor the Guarantor nor, to the best of the knowledge of the Company or the Guarantor,
any of their respective subsidiaries or their respective directors, officers acting on behalf of the Company or the Guarantor, has engaged
in any activity or conduct which would violate in any material respect the U.S. Foreign Corrupt Practices Act or any other applicable
anti-bribery or anti-corruption law or regulation, and the Company and the Guarantor have instituted and maintain policies and procedures
reasonably designed to prevent violation of such laws, regulations and rules. |
| (w) | Except as otherwise disclosed in the Pricing Prospectus and the Prospectus [or to the Reselling Purchasers],
none of the Company, the Guarantor, or any of their respective subsidiaries or, to the best of the knowledge of the Company or the Guarantor,
any of their respective directors or officers is subject to Sanctions, and neither the Company nor the Guarantor will use the proceeds
from any offering of Offered Securities hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, or
other person or entity, for the purpose of financing the activities of any person in a manner that would result in a violation of any
Sanctions by any party to the Purchase Agreement or any subsidiary of the Company or the Guarantor, and the Company and the Guarantor
have instituted and maintain policies and procedures reasonably designed to prevent violation of such Sanctions. “Sanctions”
under this provision means any economic sanctions (i) which are administered or enforced by (a) the United States, including
the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”) or by any other U.S. state department
or agency, (b) the United Nations, (c) the European Union or any Member State thereof, or (d) the United Kingdom or His
Majesty’s Treasury, and (ii) which are applicable at the relevant time the representations and warranties under this Article IV(v) are
made. It is acknowledged and agreed that none of the representations, warranties and undertakings contained in this Article (IV)(v) are
sought or given to the extent that to do so would be impermissible pursuant to Council Regulation (EC) No. 2271/96 (as amended from
time to time) (or any law or regulation implementing such Council Regulation in any member state of the European Union) or any similar
blocking or anti-boycott law of the United Kingdom, including as it forms part of United Kingdom domestic law by virtue of the European
Union (Withdrawal Act) 2018. It is acknowledged and agreed that the representations, warranties and undertakings contained in this Article (IV)(v) are
only sought by and given to any Reselling Purchaser incorporated in or organised under the laws of the Federal Republic of Germany to
the extent that to do so would not result in a violation of or a conflict with (i) the Regulation (EC) No. 2271/96 (as amended
from time to time) and (ii) the German Foreign Trade Regulation (Außenwirtschaftsverordnung – AWV). |
| (x) | Except as otherwise disclosed in the Pricing Prospectus and the Prospectus [or to the Reselling Purchasers],
the operations of the Company, the Guarantor and their respective subsidiaries are and have been conducted in compliance with money laundering
statutes of the applicable jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines
issued, administered or enforced by any governmental entity to the extent applicable to the Company and the Guarantor (collectively, the
“Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental entity, authority
or body or any arbitrator or non-governmental authority involving the Company, the Guarantor or any of their subsidiaries with respect
to the Money Laundering Laws is pending or, to the best of the Company and the Guarantor’s knowledge and belief, threatened that
would result in a material adverse effect in the condition (financial or otherwise) or operations of the Guarantor and its consolidated
subsidiaries, taken as a whole. |
V.
| (a) | Each of the Company and the Guarantor represents and agrees that, unless it obtains the prior consent
of the Reselling Purchasers, and each Reselling Purchaser represents and agrees that, unless it obtains the prior consent of the Company
and the Guarantor, in each case except for the final term sheet prepared and filed pursuant to Article V(c) hereof, it has not
made and will not make any offer relating to the Offered Securities that would constitute an Issuer Free Writing Prospectus or that would
otherwise constitute a “free writing prospectus,” as defined in Rule 405 under the Securities Act. Any such free writing
prospectus consented to by the Company, the Guarantor and the Reselling Purchasers is hereinafter referred to as a “Permitted
Free Writing Prospectus” and, if prior to the date of the Purchase Agreement, is listed on Schedule II (a) to the Purchase
Agreement. |
| (b) | Each of the Company and the Guarantor represents that it has complied and will comply with the requirements
of Rules 164 and 433 under the Securities Act applicable to any Issuer Free Writing Prospectus, including timely filing with the
Commission (or retention where required) and legending. |
| (c) | The Company and the Guarantor will prepare a final term sheet relating to the Offered Securities (attached
to the Purchase Agreement as Schedule V), containing only information that describes the final terms of the Offered Securities and otherwise
in a form consented to by the Reselling Purchasers, and will file such final term sheet within the period required by Rule 433(d)(5)(ii) under
the Securities Act following the date such final terms have been established for the offering of the Offered Securities. Any such final
term sheet is an Issuer Free Writing Prospectus and a Permitted Free Writing Prospectus for purposes of this Agreement. Each of the Company
and the Guarantor consents to the use by any Reselling Purchaser of a free writing prospectus that contains substantially only (i) information
describing the preliminary terms of the Offered Securities or their offering or (ii) information that describes the final terms of
the Offered Securities or their offering and that is included in the final term sheet of the Company and the Guarantor contemplated in
the first sentence of this subsection (including, for purposes of subsections (i) and (ii), any such information that is transmitted
via Bloomberg screen notice). |
| (d) | If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event
or development as a result of which such Issuer Free Writing Prospectus conflicted or would conflict with the information then contained
in the Registration Statement, the Pricing Prospectus or the Prospectus or included or would include an untrue statement of a material
fact or omitted or would omit to state a material fact necessary in order to make the statements therein, in light of the circumstances
then prevailing, not misleading, (i) the Company or the Guarantor has promptly notified or will promptly notify the Reselling Purchasers
and (ii) the Company or the Guarantor has promptly amended or will promptly amend or supplement such Issuer Free Writing Prospectus
to eliminate or correct such conflict, untrue statement or omission; provided, however, that this provision shall not apply to
statements in or omissions from any Issuer Free Writing Prospectus in reliance upon and in conformity with information furnished to the
Company or the Guarantor in writing by any Reselling Purchaser expressly for use therein. |
VI.
The obligations of each Purchaser hereunder are
subject to the following conditions:
| (a) | No stop order suspending the effectiveness of the Registration Statement or of any part thereof shall
be in effect, and no proceedings for such purpose shall be pending before or threatened by the Commission; no notice of objection of the
Commission to the use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under
the Securities Act shall have been received; there shall have been no material adverse change in the condition of the Guarantor and its
subsidiaries taken as a whole, except as set forth in the Registration Statement, the Pricing Prospectus and the Prospectus; and the Reselling
Purchaser shall have received, on the Closing Date, certificates dated the Closing Date and signed by officers of the Company and the
Guarantor or other duly authorized persons, to the foregoing effect and to the effect that the representations and warranties of the Company
and the Guarantor are true and correct as of the Closing Date. The officers or other persons making such certificates may each rely upon
the best of their knowledge as to proceedings pending or threatened. The final term sheet contemplated by Article V(c) hereof,
and any other material required to be filed by the Company and/or the Guarantor pursuant to Rule 433(d) under the Securities
Act, shall have been filed with the Commission within the applicable time periods prescribed for such filings by Rule 433 under the
Securities Act. |
| (b) | The Reselling Purchaser shall have received on the Closing Date an opinion or opinions of the General
Counsel or Associate General Counsel of the Guarantor or other counsel reasonably satisfactory to the Reselling Purchaser, as to certain
matters of French, New York and United States federal law, dated the Closing Date, to the effect set forth in Exhibit A hereto. |
| (c) | The Reselling Purchaser shall have received on the Closing Date an opinion in respect of Canadian counsel
reasonably satisfactory to the Reselling Purchaser, dated the Closing Date, to the effect set forth in Exhibit B hereto. |
| (d) | The Reselling Purchaser shall have received on the Closing Date an opinion of counsel and disclosure letter
from counsel for the Reselling Purchaser, dated the Closing Date, in form and substance reasonably satisfactory to the Reselling Purchaser. |
| (e) | The Reselling Purchaser shall have received on each of the date of pricing of Offered Securities and the
Closing Date a letter from the independent auditors for the Guarantor, dated the date of pricing of Offered Securities and the Closing
Date, respectively, to the effect set forth in Exhibit C hereto. |
| (f) | Since the date of the Purchase Agreement, no downgrading shall have occurred in the rating accorded the
Company’s debt securities by any “nationally recognized statistical rating organization” as that term is defined by
the Commission for purposes of Rule 436(g)(2) under the Securities Act, and no such organization shall have publicly announced
that it has under surveillance or review, with possible negative implications, its rating of any of the Company’s debt securities. |
| (g) | On or prior to the Closing Date, the Company shall have furnished to the Reselling Purchaser such further
available information and certificates as the Reselling Purchaser may reasonably request. |
VII.
In further consideration of the agreements contained
herein of any Reselling Purchaser, the Company and the Guarantor covenant to such Reselling Purchaser as follows:
| (a) | To prepare and file the Prospectus with the Commission pursuant to and in accordance with Rule 424(b) under
the Securities Act not later than the Commission’s close of business on the second business day following the date of the Purchase
Agreement or, if applicable, such earlier time as may be required by Rule 424(b); to make no further amendment or any supplement
to the Registration Statement, the Base Prospectus, the Pricing Prospectus or the Prospectus after the date of the applicable Purchase
Agreement and prior to the Closing Date which shall have been reasonably disapproved by the Reselling Purchasers promptly after reasonable
notice thereof (which notice the Company and the Guarantor undertake to provide); to advise the Reselling Purchasers, promptly after they
receive notice thereof, of the time when any amendment to the Registration Statement has been filed or becomes effective or any amendment
or supplement to the Prospectus has been filed and to furnish to any Reselling Purchaser with copies thereof; to file promptly all reports
required to be filed by the Company or the Guarantor with the Commission pursuant to Sections 13(a) or 15(d) of the Exchange
Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus (or in lieu thereof, the notice referred
to in Rule 173(a) under the Securities Act) is required in connection with the offering or sale of the Offered Securities, and
during such same period to advise the Reselling Purchasers, promptly after the Company or the Guarantor receives notice thereof, of the
time when any amendment to the Registration Statement has been filed or becomes effective or any amendment or supplement to the Prospectus
has been filed with the Commission, of the issuance by the Commission of any stop order or of any order preventing or suspending the use
of any prospectus or free writing prospectus relating to the Offered Securities, of the suspension of the qualification of such Offered
Securities for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of any
request by the Commission for the amending or supplementing of the Registration Statement or Prospectus or for additional information,
and in the event of the issuance of any such stop order or of any such order preventing or suspending the use of any prospectus or free
writing prospectus relating to the Offered Securities or suspending any such qualification, to promptly use its best efforts to obtain
the withdrawal of such order. |
| (b) | To furnish the Reselling Purchasers with copies of the Prospectus, as amended or supplemented, in such
quantities as the Reselling Purchasers may reasonably request, and, if the delivery of a prospectus (or in lieu thereof, the notice referred
to in Rule 173(a) under the Securities Act) is required at any time in connection with the offering or sale of the Offered Securities
and if at such time any event shall have occurred as a result of which the Prospectus as then amended or supplemented would include an
untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of
the circumstances under which they were made when such Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under
the Securities Act) is delivered, not misleading, or, if for any other reason it shall be necessary during such same period to amend or
supplement the Prospectus or to file under the Exchange Act any document incorporated by reference in the Prospectus in order to comply
with the Securities Act, the Exchange Act and the Trust Indenture Act, to notify the Reselling Purchasers and upon their request to file
such document and to prepare and furnish to each Reselling Purchaser and to any dealer in securities as many copies as the Reselling Purchasers
may from time to time reasonably request of an amended Prospectus or a supplement to the Prospectus which will correct such statement
or omission or effect such compliance. |
| (c) | To qualify the Offered Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions
in the United States of America as the Reselling Purchaser shall reasonably request and to pay all expenses (including fees and disbursements
of counsel) in connection with such qualification and in connection with the determination of the eligibility of the Offered Securities
for investment under the laws of such jurisdictions in the United States of America as the Reselling Purchaser may designate. |
| (d) | During the period beginning on the date of this Agreement and terminating after the number of days, if
any, indicated under “Restriction on Additional Sales” in the Purchase Agreement, not to offer, sell, contract to sell or
otherwise dispose of any debt securities of the Company substantially similar to the Offered Securities, without the prior written consent
of the Reselling Purchaser. |
| (e) | If there occurs an event or development as a result of which the Pricing Disclosure Package would include
an untrue statement of a material fact or would omit to state a material fact necessary in order to make the statements therein, in light
of the circumstances then prevailing, not misleading, to notify promptly the Reselling Purchaser so that any use of the Pricing Disclosure
Package may cease until it is amended or supplemented. |
VIII.
The Company and the Guarantor jointly and severally
agree to indemnify and hold harmless each Reselling Purchaser and each person, if any, who controls such Reselling Purchaser within the
meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims,
damages and liabilities caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement,
the Base Prospectus, any Preliminary Prospectus, the Pricing Prospectus, the Prospectus and any Issuer Free Writing Prospectus (if used
within the period set forth in paragraph (c) of Article VII hereof and as amended or supplemented if the Company or the Guarantor
shall have furnished any amendments or supplements thereto), or caused by any omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims,
damages or liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission based upon information
furnished in writing to the Company or the Guarantor by any Reselling Purchaser expressly for use therein.
Each Reselling Purchaser severally agrees to indemnify
and hold harmless the Company and the Guarantor, their directors, their officers who sign the Registration Statement and any person controlling
the Company or the Guarantor to the same extent as the foregoing indemnity from the Company and the Guarantor to each Reselling Purchaser,
but only with reference to information relating to such Reselling Purchaser furnished in writing by such Reselling Purchaser expressly
for use in the Registration Statement, the Base Prospectus, any Preliminary Prospectus, the Pricing Prospectus, the Prospectus or any
Issuer Free Writing Prospectus.
In case any proceeding (including any governmental
investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to either of the two preceding
paragraphs, such other person (the “indemnified party”) shall promptly notify the person or persons against whom such
indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party, upon request of the indemnified
party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying
party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. In any such
proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at
the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the
retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying
party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential
differing interests between them. It is understood that the indemnifying party shall not, in connection with any proceeding or related
proceedings in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm for all such indemnified
parties. Such firm shall be designated in writing by the Reselling Purchaser in the case of parties indemnified pursuant to the second
preceding paragraph and by the Company or the Guarantor in the case of parties indemnified pursuant to the first preceding paragraph.
The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent but if settled with
such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from
and against any loss or liability by reason of such settlement or judgment.
If the indemnification provided for in this Article VIII
is unavailable to an indemnified party other than as a result of the proviso to the first paragraph of Article VIII or insufficient
in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages
or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantor
on the one hand and the Reselling Purchaser on the other from the offering of the Offered Securities or (ii) if the allocation provided
by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) above but also the relative fault of the Company and the Guarantor on the one hand and of the Reselling
Purchaser on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as
well as any other relevant equitable considerations. The relative benefits received by the Company and the Guarantor on the one hand and
the Reselling Purchaser on the other in connection with the offering of the Offered Securities shall be deemed to be in the same proportion
as the total net proceeds from the offering of such Offered Securities (before deducting expenses) received by the Company bear to the
total commissions, if any, received by the Reselling Purchaser in respect thereof. If there are no commissions allowed or paid by the
Company or the Guarantor to the Reselling Purchaser in respect of the Offered Securities, the relative benefits received by the Reselling
Purchaser in the preceding sentence shall be the difference between the price received by such Reselling Purchaser upon resale of the
Offered Securities and the price paid for such Offered Securities pursuant to the Purchase Agreement. The relative fault of the Company
and the Guarantor on the one hand and of the Reselling Purchaser on the other shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates
to information supplied by the Company or the Guarantor or by the Reselling Purchaser and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or omission.
The Company, the Guarantor and the Reselling Purchaser
agree that it would not be just and equitable if contribution pursuant to this Article VIII were determined by pro rata allocation
or by any other method of allocation which does not take account of the considerations referred to in the immediately preceding paragraph.
The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred
by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this
Article VIII, no Reselling Purchaser shall be required to contribute any amount in excess of the amount by which the total price
at which the Offered Securities resold to the public by such Reselling Purchaser were offered to the public exceeds the amount of any
damages which such Reselling Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission
or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.
The indemnity and contribution agreements contained
in this Article VIII and the representations and warranties of the Company and the Guarantor in this Agreement shall remain operative
and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by any Reselling
Purchaser or on behalf of any Reselling Purchaser or any person controlling any Reselling Purchaser and (iii) acceptance of and payment
for any of the Offered Securities.
Each of the Company and the Guarantor agrees that
any legal suit, action or proceeding brought by any Reselling Purchaser to enforce the indemnity and contribution agreements contained
in this Article VIII (or otherwise to enforce this Agreement in respect of a matter resulting from a third-party claim), may be instituted
in any state or Federal court in the Borough of Manhattan, The City of New York, New York, United States of America, waives, to the extent
it may effectively do so, any objection which it may have now or hereafter to the laying of the venue of any such suit, action or proceeding,
and irrevocably submits to the jurisdiction of any such court in any such suit, action or proceeding. Each of the Company and the Guarantor
has designated and appointed Corporation Service Company (or any successor corporation) as the authorized agent of each of the Company
and the Guarantor to accept and acknowledge on its behalf service of any and all process which may be served in any such suit, action
or proceeding in any such court and agrees that service of process upon said agent at its office at 1180 Avenue of the Americas, Suite 210,
New York, NY 10036 (or such other address in the Borough of Manhattan, The City of New York, as the Company or the Guarantor, as applicable,
may designate by written notice to you), shall be deemed in every respect effective service of process upon the Company or the Guarantor,
as applicable, in any such suit, action or proceeding and shall be taken and held to be valid personal service upon the Company or the
Guarantor, as applicable, whether or not the Company or the Guarantor, as applicable, shall then be doing, or at any time shall have done,
business within the State of New York, and any such service of process shall be of the same force and validity as if service were made
upon it according to the laws governing the validity and requirements of such service in such State, and waives all claim of error by
reason of any such service. Said designation and appointment shall be irrevocable until the principal of and interest on the Offered Securities
and all other sums owing by the Company or the Guarantor to holders of the Offered Securities in accordance with the provisions of the
Offered Securities and the Indenture have been paid in full by the Company or the Guarantor in accordance with the provisions thereof.
Each of the Company and the Guarantor agrees to take all action as may be necessary to continue the designation and appointment of Corporation
Service Company or any successor corporation in full force and effect so that the Guarantor shall at all times have an agent for service
of process for the above purposes in the Borough of Manhattan, The City of New York, New York, United States of America.
IX.
Any payments to any Purchaser hereunder (each
Purchaser is hereinafter referred to in this Article IX as a “Payee”) shall be in United States dollars and shall
be payable free and clear of, and without deduction or withholding for, or on account of, any and all present or future taxes, duties,
assessments, levies and other governmental charges of any nature whatsoever now or hereafter imposed, levied, collected, withheld or assessed
by or on behalf of France, Canada or any other jurisdiction from which such payments are made, or any territory or political subdivision
thereof, unless such deduction or withholding is required by law (“Foreign Taxes”). If by operation of law or otherwise,
Foreign Taxes are required to be deducted or withheld from any amounts payable to a Payee, the Company or the Guarantor, as the case may
be, agrees to pay such additional amounts to each Payee (the “Additional Amounts”) as may be necessary to ensure that
the net amount actually received by the Payee, after deduction of any Foreign Taxes imposed with respect to the payment of such Additional
Amounts, shall equal the amount the Payee would have received if Foreign Taxes had not been deducted or withheld from such payment and
to the extent that such payments (i) are made to non-French tax resident persons that (x) are resident of a jurisdiction that
has entered into a tax treaty with France containing a “Business Profits” clause similar to the “Business Profits”
clause contained in the OECD Model Tax Convention on Income and on Capital and are fully entitled to the benefits of such treaty and (y) are
neither incorporated, domiciled or, acting through a branch in a non-cooperative State or territory within the meaning of article 238-0
A of the French tax code (Code général des impôts) as amended from time to time (a “Non-Cooperative
State”) and (ii) are not made and will not be made to an account held with a financial institution established in a Non-Cooperative
State; provided, however, that no Additional Amounts shall be so payable for or on account of: (i) any Foreign
Taxes which would not have been imposed but for the fact that any Payee had a present or former personal or business connection with France,
Canada or any other jurisdiction from which payments are made, or any territory or political subdivision thereof other than the mere ownership
of, or receipt of payment under, the Offered Securities; (ii) any Foreign Taxes which would not have been imposed if the Payee dealt
at arm’s length, within the meaning of the applicable taxing legislation, with the Company and the Guarantor; (iii) any estate,
inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental charge; or (iv) any Foreign
Taxes which are payable otherwise than by withholding or deduction. Any payments to any Payee shall be considered exclusive of any value
added or similar taxes. Where the Company is obliged to pay value added or similar tax on any amount payable hereunder to a Payee, the
Company shall in addition to the sum payable hereunder pay an amount equal to any applicable value added or similar tax.
The Company and the Guarantor, jointly and severally,
agree to indemnify each Purchaser against any loss incurred by any such Purchaser as a result of any judgment or order being given or
made for any amount due hereunder and such judgment or order being expressed and paid in a currency (the “Judgment Currency”)
other than United States dollars and as a result of any variation as between (i) the rate of exchange at which the United States
dollar amount is converted into the Judgment Currency for the purpose of such judgment or order, and (ii) the rate of exchange at
which such Payee upon receipt of the Judgment Currency could have purchased United States dollars with the amount of Judgment Currency
actually received by such Payee. The foregoing indemnity shall constitute a separate and independent obligation of the Company and the
Guarantor, and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term “rate of
exchange” shall include any premiums and costs of exchange payable in connection with the purchase of, or conversion into, the relevant
currency.
X.
This Agreement shall be subject to termination
in the absolute discretion of any Reselling Purchaser, by notice given to the Company and the Guarantor, if prior to the Closing Date
(i) trading in securities generally or trading in the Guarantor’s securities on either Euronext Paris or the New York Stock
Exchange shall have been suspended or materially limited, (ii) a general moratorium on commercial banking activities in New York,
Canada or France shall have been declared by either Federal, New York State, Canadian or French authorities or a material disruption in
commercial banking or securities settlement or clearance services within the United States, Canada or the European Union shall have occurred
or (iii) there shall have occurred any material outbreak or escalation of hostilities or other calamity or crisis the effect of which
on the financial markets of the United States or the European Union is such as to make it, in the judgment of such Reselling Purchaser,
impracticable to resell the Offered Securities.
XI.
Without prejudice to the provisions of Article VII(d) and
Article XIII hereof, the Reselling Purchasers jointly agree to pay all expenses incident to the issuance of the Offered Securities
(other than fees of counsel to and the independent auditors of the Company and Guarantor related to such issuance), including but not
limited to:
| (a) | the fees and disbursements of the counsel to the Reselling Purchasers in connection with the issuance
of the Offered Securities; |
| (b) | the fees and expenses incurred in connection with the approval by The Depository Trust Company and other
clearing and settlement organizations for the clearance through their respective systems; and |
| (c) | all documented out-of-pocket expenses incurred by the Reselling Purchasers. |
XII.
Notwithstanding the provisions of Article XI
hereof, the Company and the Guarantor jointly agree to pay the following expenses incident to the issuance of the Offered Securities:
| (a) | the Commission filing fees; |
| (b) | the fees and disbursements of counsel to and the independent auditors of the Company and the Guarantor
in connection with the issuance of the Offered Securities; |
| (c) | the printing and delivery to the Reselling Purchasers of copies of the Prospectus and any amendment or
supplement thereto, and the preparing, printing and distributing of any Issuer Free Writing Prospectus to investors or prospective investors;
and |
| (d) | the costs of the Trustee in connection with the issuance of the Offered Securities including the reasonable
fees and disbursements of counsel for the Trustee. |
XIII.
If this Agreement shall be terminated by the Reselling
Purchaser(s) because of any failure or refusal on the part of the Company or the Guarantor to comply with the terms or to fulfill
any of the conditions of this Agreement, or if for any reason the Company or the Guarantor shall be unable to perform its obligations
under this Agreement, the Company or the Guarantor will reimburse the Reselling Purchaser(s) for all out-of-pocket expenses (including
the fees and disbursements of counsel) reasonably incurred by such Purchaser(s) in connection with the Offered Securities.
This Agreement may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.
This Agreement shall be governed by and construed
in accordance with the laws of the State of New York.
The Company and the Guarantor each acknowledge
and agree that (a) the purchase and sale of the Offered Securities pursuant to this Agreement is an arm’s-length commercial
transaction between the Company and the Guarantor, on the one hand, and the several Reselling Purchasers, on the other, (b) in connection
therewith and with the process leading to such transaction each Reselling Purchaser is acting solely as a principal and not the agent
or fiduciary of the Company or the Guarantor and (c) no Reselling Purchaser has assumed a fiduciary responsibility in favor of the
Company or the Guarantor with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether such
Reselling Purchaser has advised or is currently advising the Company or the Guarantor on other matters) or any other obligation to the
Company or the Guarantor except the obligations expressly set forth in this Agreement. The Company and the Guarantor each agree that it
will not claim that the Reselling Purchasers, or any of them, owes a fiduciary or similar duty to the Company or the Guarantor in connection
with such transaction or the process leading thereto.
EXHIBIT A
OPINION OF GUARANTOR COUNSEL
You shall have received on and as of the Closing
Date an opinion or opinions of the General Counsel or Associate General Counsel of the Guarantor, or other counsel reasonably satisfactory
to you, subject to customary assumptions and qualifications, to the effect that:
| (1) | The Guarantor is validly existing as a societas europaea each under the laws of France and each
has all the requisite corporate power and authority to execute, deliver and perform its obligations under the Offered Securities, the
Purchase Agreement, the Indenture and the Guarantee. |
| (2) | The Purchase Agreement has been duly authorized, executed and delivered the Guarantor. |
| (3) | The Indenture has been duly authorized, executed and delivered by the Guarantor and constitutes a valid
and legally binding obligation of the Guarantor enforceable against the Guarantor in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’
rights and to general equity principles, and the Indenture has been duly qualified under the Trust Indenture Act of 1939, as amended by
the Trust Indenture Reform Act of 1990 (hereinafter called the “Trust Indenture Act”). |
| (4) | Upon due execution, authentication and delivery of the Offered Securities, upon which the text of the
Guarantee has been endorsed as contemplated in the Indenture, the Guarantee will constitute a valid and legally binding obligation of
the Guarantor with respect to the Offered Securities, enforceable against the Guarantor in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’
rights and to general equity principles. |
| (5) | All regulatory consents, authorizations, approvals and filings required to be obtained or made by the
Company or the Guarantor under the Federal laws of the United Sates, the laws of the State of New York or the laws of the French Republic
for the issuance, sale and delivery of the Offered Securities by the Company to the Reselling Purchasers have been obtained or made. |
| (6) | Neither the Company nor the Guarantor is, or after giving effect to the offering and sale of the Offered
Securities and the application of the proceeds thereof as described in the Pricing Prospectus and the Prospectus, will be, an “investment
company” or an entity “controlled” by an “investment company” within the meaning of the Investment Company
Act of 1940, as amended. |
| (7) | There are no stamp, registration, issuance, transfer or other similar taxes or duties imposed or payable
in France or the United States or any political subdivision or taxing authority thereof or therein by or on behalf of the Reselling Purchasers
in connection with (A) the creation, issuance, sale and delivery of the Offered Securities to or for the account of the Reselling
Purchasers in the manner contemplated in the Purchase Agreement, (B) the sale and delivery by the Reselling Purchasers of the Offered
Securities to the purchasers thereof in connection with the distribution of the Offered Securities in the manner contemplated in the Purchase
Agreement or (C) the execution and delivery of the Purchase Agreement and the consummation of the transactions contemplated hereby
and thereby (provided such sale and delivery is not recorded in a deed registered in France). |
| (8) | The choice of the laws of the State of New York to govern the Purchase Agreement, the Indenture, the Offered
Securities and the Guarantee is a valid choice of law, and a French court would uphold such choice of law in any proceeding on the Purchase
Agreement, the Indenture, the Offered Securities or the Guarantee brought before it, provided that the relevant content of New
York law is duly proved in any such proceedings and that the application of New York law (i) is not found to be contrary to mandatory
provisions of the law of any jurisdiction presenting a close connection with the transaction, which under the laws of such jurisdiction
are applicable irrespective of the law governing the Purchase Agreement, the Indenture, the Offered Securities or the Guarantee, as the
case may be, (ii) is not found to be contrary to a provision of French law whose application to the situation is found mandatory
irrespective of the law governing the Purchase Agreement, the Indenture, the Offered Securities or the Guarantee (lois de police) and
(iii) is not found to be manifestly contrary to a provision of French international public policy (ordre public international),
and provided further that in original actions brought in French courts certain questions of procedural law and public policy
would be governed by French law and a French court could set aside the choice of New York law if such choice was held to have been intended
to avoid a provision of French law which otherwise would have been mandatorily applicable. |
| (9) | Under the laws of the State of New York relating to personal jurisdiction, the Guarantor has, pursuant
to Section VIII of the Purchase Agreement and Section 114 of the Indenture, validly and irrevocably submitted to the personal
jurisdiction of any state or federal court located in the Borough of Manhattan, The City of New York, New York (each a “New York
Court”) in any action arising out of or relating to this Purchase Agreement or the transactions contemplated hereby. |
| (10) | Any final judgment for a sum of money against the Guarantor in relation to the Purchase Agreement, the
Indenture, the Offered Securities or the Guarantee rendered by a competent New York court, applying New York law, would be recognized
and enforced by competent French courts without a review of the merits, provided that (i) the court rendering the judgment
had proper jurisdiction; (ii) fundamental procedural rights were duly complied with by the court rendering the judgment; (iii) the
court rendering the judgment applied New York law as the law expressed to be governing the Purchase Agreement, the Indenture, the Offered
Securities and the Guarantee, as the case may be; and (iv) the judgment is not (a) contrary to French public policy (ordre
public) as applicable in the context of enforcement of foreign judgments or (b) tainted by fraud. |
| (11) | Such counsel shall also state that they have reviewed the Registration Statement relating to the Securities
(File No. 333-[●]) (the “Registration Statement”), the Prospectus included in the Registration Statement
(the “Base Prospectus”), the Prospectus Supplement dated [●] (the “Prospectus Supplement”)
and documents listed in Schedule [●] (those listed documents, taken together with the Base Prospectus, being referred to as the
“Pricing Disclosure Package”) and participated in discussions with representatives of the Company and the Guarantor
and their independent accountants and representatives of the Reselling Purchasers and their counsel. Between the date of the Prospectus
Supplement and the time of the delivery of this letter, such counsel participated in further discussions with representatives of the Reselling
Purchasers and those of the Company and the Guarantor and their independent accountants, concerning certain matters relating to the Company
and the Guarantor and reviewed certificates of certain officers of the Company and the Guarantor, letters addressed to the Reselling Purchasers
from the Company’s independent accountants and legal opinions addressed to the Reselling Purchasers from the Guarantor’s group
general counsel. On the basis of the information that they gained in the course of the performance of such services, considered in light
of their understanding of the applicable law (including the requirements of Form F-3 and the character of the prospectus contemplated
thereby) and the experience they have gained through their practice under the Securities Act, such counsel shall confirm to the Reselling
Purchasers that, in their opinion, the Registration Statement [as of the date of the Prospectus Supplement], and the Base Prospectus,
as supplemented by the Prospectus Supplement, as of the date of the Prospectus Supplement, appeared on their face to be appropriately
responsive, in all material respects relevant to the offering of the Securities to the requirements of the Securities Act, the Trust Indenture
Act of 1939 and the applicable rules and regulations of the Securities and Exchange Commission thereunder. Such counsel shall confirm
to the Reselling Purchasers that the statements made under the captions “Description of Debt Securities and Guarantee”, “Plan
of Distribution” and “Tax Considerations” in the Base Prospectus and under the caption “Description of Notes”
and “Underwriting” in the Prospectus Supplement, insofar as they relate to the provisions of documents or of French or United
States federal tax law therein described, constitute a fair and accurate summary of such provisions in all material respects. Such counsel
shall further state that nothing that came to the attention of such counsel in the course of such review has caused them to believe that,
insofar as relevant to the offering of the Securities (i) the Registration Statement, [as of the time of the Prospectus Supplement],
contained any untrue statement of a material fact or omitted to state any material fact required to be stated therein or necessary to
make the statements therein not misleading, (ii) the Pricing Disclosure Package, as of [●] [A/P].M. on [●],[●]
[the Applicable Time set forth in the Purchase Agreement], [when considered together with the price to the public and underwriting discount
for the Securities set forth on the cover of the Prospectus Supplement and the statements made under caption “Description of Notes”
in the Prospectus Supplement,] contained any untrue statement of a material fact or omitted to state any material fact necessary in order
to make the statements therein, in light of the circumstances under which they were made, not misleading, or (iii) the Base Prospectus,
as supplemented by the Prospectus Supplement, as of the date of the Prospectus Supplement, contained any untrue statement of a material
fact or omitted to state any material fact necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading. |
Such counsel shall also advise the Reselling
Purchasers that nothing came to the attention of such counsel in the course of the procedures described in the second sentence in the
preceding paragraph that has caused them to believe that, the Base Prospectus, as supplemented by the Prospectus Supplement, as of the
date and time of delivery of such counsel’s letter, contained any untrue statement of a material fact or omitted to state any material
fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.
Such opinion may state (1) that
the limitations inherent in the independent verification of factual matters and the character of determinations involved in the registration
process are such, however, that such counsel do not assume any responsibility for the accuracy, completeness or fairness of the statements
contained in the Registration Statement, any post-effective amendment thereto, the Base Prospectus, the Prospectus Supplement or the Pricing
Disclosure Package, except to the extent specifically noted in the fourth sentence of the second preceding paragraph, and (2) that
they do not express any opinion or belief as to the financial statements or other financial data derived from the accounting records contained
in the Registration Statement, any post-effective amendment thereto, the Base Prospectus, the Prospectus Supplement or the Pricing Disclosure
Package, as to management’s report of its assessment of the effectiveness of the internal control over financial reporting or the
auditors’ report as to the internal control over financial reporting, each as included in the Registration Statement, any post-effective
amendment thereto, the Base Prospectus, the Prospectus Supplement or the Pricing Disclosure Package, or as to the statement of the eligibility
and qualification of the Trustee under the Indenture under which the Securities are being issued.
| (12) | Neither the execution of the Purchase Agreement and the Indenture, nor the issuance of the Offered Securities
or the Guarantee, nor the fulfilment of or compliance with the terms and provisions hereof or thereof by the Guarantor, will violate or
result in a breach or a default under any of the terms of its statuts, or, to the best of such counsel’s knowledge, any contract
or instrument to which it is a party or by which it or its property is bound or any law or regulation, or any order, writ, injunction
or decree of any court or government instrumentality to which it is subject or by which it or its property is bound, which violation,
breach or default would have a material adverse effect on the condition (financial or otherwise) or operations of the Guarantor and its
consolidated subsidiaries, taken as a whole, or its ability to perform its obligations under the Purchase Agreement, the Offered Securities,
the Indenture or the Guarantee, or the validity of the Offered Securities. |
| (13) | To the best of such counsel’s knowledge and except as disclosed in the Prospectus, there is no litigation
or governmental proceeding pending, or to such counsel’s knowledge threatened, against or affecting the Guarantor, the Company or
any of their subsidiaries that would result in a material adverse change in the condition (financial or otherwise) or operations of the
Guarantor and its consolidated subsidiaries, taken as a whole, or of the Company and its consolidated subsidiaries, taken as a whole,
or the ability of the Guarantor or of the Company to perform its obligations under the Purchase Agreement, the Offered Securities issued
by the Company, the Indenture or the Guarantee. |
| (14) | Neither the execution of the Purchase Agreement and the Indenture, nor the issuance of the Offered Securities,
nor the fulfilment of or compliance with the terms and provisions hereof or thereof by the Company, will violate or result in a breach
or a default under any of the terms of any contract or instrument to which it is a party or by which it or its property is bound. |
EXHIBIT B
OPINION OF COUNSEL TO THE COMPANY
You shall have received on and as of the Closing
Date an opinion of Canadian counsel reasonably satisfactory to you, subject to customary assumptions and qualifications, to the effect
that:
| (1) | The Company is a valid and subsisting corporation under the Business Corporations Act (Alberta) and has
the corporate power and capacity to execute, deliver and perform its obligations under the Offered Securities, the Purchase Agreement
and the Indenture. |
| (2) | The Purchase Agreement has been duly authorized and, to the extent execution and delivery are matters
governed by the laws of the Province of Alberta and the federal laws of Canada applicable therein (“Alberta Law”),
executed and delivered by the Company. |
| (3) | The Indenture has been duly authorized and, to the extent execution and delivery are matters governed
by Alberta Law, executed and delivered by the Company. |
| (4) | The Offered Securities to be issued by the Company have been duly authorized and, to the extent issue,
delivery and authentication are matters governed by Alberta Law, when issued, delivered, and authenticated as provided in the Indenture,
will be duly and validly issued. |
| (5) | All regulatory consents, authorizations, approvals and filings required to be obtained or made by the
Company or the Guarantor under Alberta Law for the issuance, sale and delivery of the Offered Securities by the Company to the Reselling
Purchasers have been obtained or made, other than the exemption that will be required to be obtained under the Business Corporations Act
(Alberta) prior to the appointment of the trustee under the Indenture to exempt the Indenture from the relevant provisions thereof. |
| (6) | No stamp or other transfer tax, duties or issuance tax imposed under Alberta Law or by any Canadian federal
or Alberta political subdivision or taxing authority are or will be payable by or on behalf of the Reselling Purchasers in connection
with (A) the issuance, sale and delivery of the Offered Securities to or for the account of the Reselling Purchasers in the manner
contemplated in the Purchase Agreement or (B) the sale and delivery by the Reselling Purchasers of the Offered Securities to the
purchasers thereof in connection with the distribution of the Offered Securities in the manner contemplated in the Purchase Agreement. |
| (7) | In any proceeding in a court of competent jurisdiction in the Province of Alberta (an “Alberta
Court”) for the enforcement of the Purchase Agreement, the Indenture, the Offered Securities or the Guarantee as the case may
be, the Alberta Court would apply the laws of the State of New York (“New York Law”), in accordance with the parties’
choice of New York Law in the Purchase Agreement, the Indenture, the Offered Securities and the Guarantee, as the case may be, to all
issues which under Alberta Law are to be determined in accordance with the chosen law of the contract, provided that: |
| (a) | the parties’ choice of New York Law is bona fide and legal and there is no reason for avoiding the
choice on the grounds of Alberta public policy, as such term is interpreted under Alberta Law (“Public Policy”), and |
| (b) | in any such proceeding, and notwithstanding the parties’ choice of law, the Alberta Court: |
| (i) | will not take judicial notice of the provisions of New York Law but will only apply such provisions if
they are pleaded and proven by expert testimony; |
| (ii) | will not apply any New York Law and will apply Alberta Law to matters which would be characterized under
Alberta Law as procedural; |
| (iii) | will apply provisions of Alberta Law that have overriding effect; |
| (iv) | will not apply any New York Law if such application would be characterized under Alberta Law as the direct
or indirect enforcement of a foreign revenue, expropriatory, penal or other public law or if its application would be contrary to Public
Policy; and |
| (v) | will not enforce the performance of any obligation that is illegal under the laws of any jurisdiction
in which the obligation is to be performed. |
| (8) | An Alberta Court would give a judgment based upon a final and conclusive in personam judgment of a court
exercising jurisdiction in any state or federal court in the Borough of Manhattan, the City of New York, New York, United States of America
for a sum certain, obtained against the Company or the Guarantor with respect to a claim arising out of the Purchase Agreement, the Indenture,
the Offered Securities or the Guarantee, as applicable (a “New York Judgment”), without reconsideration of the merits: |
(a) provided
that:
| (i) | the provisions of the Purchase Agreement, the Indenture, the Offered Securities and the Guarantee, as
the case may be, respecting service of process on the Company or the Guarantor, as applicable, were complied with when obtaining the New
York Judgment; |
| (ii) | an action to enforce the New York Judgment must be commenced in the Alberta Court within the shorter of
the applicable Alberta limitation period or the applicable New York limitation period; |
| (iii) | the Alberta Court has discretion to stay or decline to hear an action on the New York Judgment if the
New York Judgment is under appeal or there is another subsisting judgment in any jurisdiction relating to the same cause of action; |
| (iv) | the Alberta Court will render judgment only in Canadian dollars; and |
| (v) | an action in the Alberta Court on the New York Judgment may be affected by bankruptcy, insolvency or other
laws affecting the enforcement of creditors’ rights generally; and |
(b) subject
to the following defenses:
| (i) | the New York Judgment was obtained by fraud or in a manner contrary to the principles of natural justice
but the New York Judgment would not be contrary to natural justice by reason only that service of process was effected on the agent for
service of process appointed by the Company or the Guarantor pursuant to Section 114 of the Indenture or Article VIII of the
Purchase Agreement; |
| (ii) | the New York Judgment is for a claim which under Alberta Law would be characterized as based on a foreign
revenue, expropriatory, penal law or other public law; |
| (iii) | the New York Judgment is contrary to Public Policy or to an order made by the Attorney General of Canada
under the Foreign Extraterritorial Measures Act (Canada) or by the Competition Tribunal under the Competition Act (Canada) in respect
of certain judgments referred to in these statutes; and |
| (iv) | the New York Judgment has been satisfied or is void under New York Law. |
| (9) | Neither the execution of the Purchase Agreement and the Indenture, nor the issuance of the Offered Securities,
nor the fulfillment of or compliance with the terms and provisions hereof or thereof by the Company, will violate or result in a breach
or a default under any of the terms of its articles of incorporation and by-laws, any Alberta Law, or, to the best of such counsel’s
knowledge, any order, writ, injunction or decree of any court or government instrumentality in the Province of Alberta to which the Company
is subject or by which it or its property is bound, which violation, breach or default would have a material adverse effect on its condition
(financial or otherwise) or operations or its ability to perform its obligations under the Purchase Agreement, the Offered Securities
or the Indenture, or the validity of the Offered Securities. |
EXHIBIT C
LETTER OF INDEPENDENT AUDITORS
The letter of the independent auditors for the
Company, to be delivered pursuant to Article VI, paragraph (e) of the document entitled Purchase Agreement Standard Provisions
(2024 Edition) (the “Standard Provisions”) shall be to the effect that:
| (i) | Such auditors are independent registered public accounting firms with respect to the Company within the
meaning of the Securities Act of 1933, as amended, and the applicable rules and regulations thereunder adopted by the Securities
and Exchange Commission (“SEC”) and the Public Company Accounting Oversight Board (United States) (“PCAOB”). |
| (ii) | In the opinion of such auditors, the consolidated financial statements included in the Annual Report on
Form 20-F of the Company most recently filed with the SEC comply as to form in all material respects with the applicable accounting
requirements of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the published rules and
regulations thereunder. |
| (iii) | If applicable, nothing came to the attention of such auditors, as a result of performing the procedures
specified by the PCAOB for a review of interim financial information as described in PCAOB AS 4105 Review of Interim Financial Information,
and other specified procedures not constituting an audit, that caused them to believe that the unaudited interim condensed consolidated
financial statements of the Company, if any, incorporated by reference into the Registration Statement, do not comply as to form in all
material respects with the applicable accounting requirements of the Securities Act of 1933, as amended, and the applicable published
rules and regulations thereunder, or that any material modifications should be made to such unaudited interim condensed consolidated
financial statements, for them to be in conformity with International Accounting Standard 34 as issued by the International Accounting
Standards Board, the standard of IFRS applicable to interim financial reporting. |
| (iv) | Nothing came to the attention of such auditors, as a result of making certain inquiries of Company officials,
and conducting certain other procedures referred to in the letter, that caused them to believe that there was any increase or decrease
in certain financial statement items of the Company, except in all instances for increases or decreases that the Registration Statement
discloses have occurred or may occur, as compared to the amounts shown on the consolidated financial statements mentioned in (ii) or
(iii) above (as applicable), provided the letter is issued less than 135 days from the date of such financial statements. |
If 135 days or more have elapsed from
the date of the most recent audited consolidated financial statements or the most recent unaudited condensed consolidated financial statements
with respect to which the auditors have performed the procedures specified by the PCAOB for a review of interim financial information,
the letter of the independent auditors shall refer to statements made by the Company’s management as to item (iv) above.
| (v) | Such auditors have performed other procedures that are customary for auditors’ comfort letters in
registered debt offerings as required by the Reselling Purchaser(s). |
