First quarter 2023 results

TotalEnergies once again demonstrates its ability to generate strong results, posting in the first quarter 2023 adjusted net income of $6.5 billion, cash flow of $9.6 billion, and retun on average capital employed of 25%, in an environment of lower oil and gas prices. IRS net income was $5.6 billion for the quarter.
In an environment with Brent prices averaging $81/b, Exploration & Production generated adjusted net operating income of $2.7 billion and cash flow of $4.9 billion with production growth of 2% compared to the previous quarter” benefiting in particular from the start-up of gas production on Block 10 in Oman and the acquisition of a 20% interest in the SARB / Umm Lulu ail fields in the United Arab Emirates.

Integrated LNG delivered adjusted net operating income and cash flow of $2.1 billion, leveraging its integrated global portfolio, in an environment of European and Asian gas prices returning to levels close to Brent parity at $16-17/Mbtu, given the mild winter and high inventories in Europe.

Downstream posted adjusted net operating income of $1.9 billion and cash flow of $2.2 billion, benefiting from strong refining margins. TotalEnergies announced the sale for €3. 1 billion to Alimentation Couche-Tard of its retail networks in Germany and the Netherlands as well as a 40%/60% partnership with them to operate the stations in Belgium
and Luxembourg.
Given these strong results, the Board of Directors confirmed the increase of 7.25% in the first interim dividend for the 2023 financial year, to €0.74 per share, as well as the repurchase of up to $2 billion of shares in the second quarter of 2023.