Total Q3 Report 2023

“While implementing its balanced transition strategy that combines Oil & Gas and Integrated Power, TotalEnergies
demonstrates once again this quarter its ability to leverage a supportive price environment, generating adjusted net
income of $6.5 billion and return on average capital employed of over 20%. Cash flow from operations (CFFO)
increased to $9.3 billion in the third quarter and totaled $27.4 billion in the first nine months of 2023.

In the Oil & Gas business, production at nearly 2.5 Mboe/d is up 5% year-on-year, thanks to the start-up of several oil
projects in Brazil (Mero 1), Nigeria (Ikike) and Iraq (Ratawi) and gas projects in Oman (Block 10) and Azerbaijan
(Absheron). During the quarter, confirmation of exploration successes in Suriname and Namibia opened the way to
new oil developments contributing to future cash flow growth.

Exploration & Production delivered a strong quarter, with adjusted net operating income and cash flow both increasing
by $0.8 billion quarter-to-quarter to $3.1 billion and $5.2 billion, respectively. Integrated LNG confirms the robustness
of its global integrated portfolio, with adjusted net operating income of $1.3 billion and cash flow of $1.6 billion.
Downstream adjusted net operating income and cash flow increased sequentially to $1.8 billion and $2.2 billion,
respectively, due to good availability of European refining assets.

This quarter again demonstrates the relevance of TotalEnergies’ profitable transition strategy. For the first time,
Integrated Power adjusted net operating income and cash flow both exceed $500 million. Year-to-date cash flow at
the end of the third quarter is close to $1.5 billion, in line with Integrated Power’s objective to generate around $2 billion
of cash flow in 2023. TotalEnergies commissioned its 1 GW Seagreen offshore wind farm, which was delivered within
budget, and its 380 MW Myrtle Solar project in the US, which includes battery storage, and acquired 100% of Total
Eren.