TotalEnergies : 2024 Shareholders' Meeting presentation

Strong cash flow underpins increased returns

2023 CFFO and cash flow allocation

B$

36	Working capital*

Downstream

Debt reduction

9 B$ Buybacks

23 B$ Adj. net income, TotalEnergies share

• 19% ROACE

Integrated Power

Integrated LNG

Exploration & Production

16.5

16.8

	2023
Brent ($/b)	83
Avg LNG price ($/Mbtu)	10.8
TTF ($/Mbtu)	13.1
VCM, Eur. refining ($/t)	69

of which 1.5 B$ from Canada divestment

+

7.5 B$ Dividend

Capital investment

• 20% Return on Equity

21 B$ IFRS net income

5% gearing at end-23

46% payout in 2023

vs 37% in 2022

• Includes ~2 B$ of exceptional fiscal debt variations related to the change of the gas and power price cap compensation system in France and the disposal of our German retail network to Alimentation Couche Tard

First quarter 2024 in line with guidance

		2024	1Q24
More energy	objectives	results
	Upstream production	2.4-2.5	2.46
	+2% ex. Canada	+1.5% ex. Canada
	Upstream production costs (ASC 932)	5 $/boe	4.6 $/boe
	LNG sales	> 40 Mt	10.7 Mt
	Renewables gross installed capacity	28 GW	23.5 GW 
Less emissions
	Scope 1+2 from operated facilities	< 38.8 MtCO2e	8.2 MtCO2e
Growing cash flow
	CFFO	~34 B$*	8.2 B$*
	Net investments	17-18B$	3.6 B$
	CFFO Payout	> 40%	43%

• Objectifs 2024 : 80 $/b Brent, 10 $/Mbtu TTF, 50 $/t ERM; 1T24: 83 $/b Brent, 9 $/Mbtu TTF, 72 $/t ERM

Tyra, Danemark

2023 results supported by growth segments

Integrated LNG

LNG	LNG
& Gas
assets
trading

Integrated Power

RenewablesFlexible generation

Power	Power & Gas
trading	marketing

Sales Mt

CFFO B$

NOI B$

Average LNG Price ($/Mbtu)

20212023

4244

5.47.3

5.66.2

8.810.8

Production TWh

o/w Renewables TWh

CFFO B$

NOI B$

20212023

2133

719

0.72.2

0.71.9

18% ROACE in 2023

10% ROACE in 2023

Growing steadily shareholder distributions

while deleveraging

Quarterly dividend	Gearing ratio	Buybacks
€/share	Excluding leases, at year-end	B$

+20% 0.79

1.5 B$

from Canada

divestment

5%

Ranking on par with US majors

ROACE full-year 2023

%

19% Exxon

5-year Total shareholder return (TSR)

CAGR, 2019-2023

Exxon

12.6%

Chevron

BP Chevron Shell

Shell

BP

Proved reserves life index*			Sustainalytics rating
years
Exxon
12				27.3
			Chevron	Shell
				BP	Shell

BP Chevron

Exxon

* At end-23

2024 Shareholders' Meeting

Governance

Jacques Aschenbroich

Lead Independent Director

Chairman of the Governance and Ethics committee

Duties of the Lead Independent Director

Ensuring balanced governance

Ensures corporate governance

Code and Board rules of procedures are respected

Chairs the Governance & Ethics

committee

Can call a Board meeting to discuss a given agenda

Leads the assessment

of the functioning of the Board

Chairs the Executive sessions (without the presence of the CEO)

Ensures prevention of

Directors' conflicts of

interests

Participates in relations with shareholders (Corporate government)