Slide 1: Strategy, Sustainability & Climate 2023
we TotalEnergies — Sex! — Strategy, :Climate & Climate Global strengths, global results More energy, less emissions
Slide 2: Table of content
2023 Strategy, Sustainability & Climate Table of content Sustainab’ALL | 03 Our purpose: more energy, less emissions | 05 Taking care of biodiversity | 32 Strategy driven by demand fundamentals | 06 Preserving scarce freshwater resources | 33 Delivering superior results and returns while growing and
Slide 3: Sustainab'ALL: 10 sustainable KPIs
Sustainab’ALL 10 sustainable KPIs to measure our sustainability progress Worldwide deployment from 2023–25 1 Low-carbon energy produced, or low-carbon energy sold 2 Energy consumption and low-carbon energies consumption 3 Number of suppliers with a climate commitment 4 Number of innovative solutions
Slide 4: Building a multi-energy company
TS TotalEnergies Staying the course Building a multi-energy company
Slide 5: Our purpose: more energy, less emissions
Our purpose: more energy, less emissions Supply to as many people as possible reliable, affordable, sustainable energy Building a multi-energy company March 2023 – Strategy, Sustainability & Climate | 5
Slide 6: Strategy driven by demand fundamentals
Strategy driven by demand fundamentals Acceleration of innovation to substitute oil use Oil demand to plateau then decline from 2030+ with impact on long-term prices Low-carbon liquids: biofuels / e-fuels LNG driving growth aiming at higher living standards Back out coal and complement of intermitte
Slide 7: Delivering superior results and returns while growing and transforming the Company
Delivering superior results and returns while growing and transforming the Company % B$ 100% 15 +98% 15 75% BP Exxon Chevron 10 50% 25% Shell 5 0% 0 % GW 20 30% 25% 28.2% 15 17 20% 10 15% 10% 5 5% 0% 0 1. Net cash flow = Cash flow from operating activities – Cash flow from investing activities Build
Slide 8: Cash flow allocation priorities
Cash flow allocation priorities in 2023 Targeting for 2023 interim dividends buybacks in 1H23 5 B$ in Low-carbon Energies credit rating Building a multi-energy company March 2023 – Strategy, Sustainability & Climate | 8
Slide 9: A decade of growth and transformation to build a multi-energy company
A decade of growth and transformation to build a multi-energy company PJ/d PJ/d Low-carbon molecules Maintaining the cash flow engine 20% Aligning sales to demand and production Electricity 20 20 Low-carbon molecules 20% Electricity Growing LNG production LNG Integration along the LNG value chain LN
Slide 10: A sustainable capital investment policy supporting the transition through 2030
A sustainable capital investment policy supporting the transition through 2030 Maintenance Oil Low-carbon energies Maintenance Gas New projects Building a multi-energy company Capex = organic investments + acquisitions - asset sales March 2023 – Strategy, Sustainability & Climate | 10
Slide 11: Upstream oil: low cost, low emission
Upstream oil: low cost, low emission Maintaining the cash engine of the Company Brazil: Mero 2-3-4 (under construction), Atapu 2, Sépia 2 Angola: Blocks 20 & 21 Abu Dhabi: 20% SARB / Umm Lulu acquisition adding 50 kb/d low cost, low emission production Namibia, a potential new golden block: 300 M$,
Slide 12: Upstream oil: low cost, low emission
Upstream oil: low cost, low emission A profitable and resilient portfolio, no stranded asset Technical cost, $/b 2030 Low cost, low emission portfolio 40 Operating costs (ASC 932): 5.6 $/boe in 2022 20 Oil portfolio average Scope 1+2 O&G operated emissions: 17 kgCO2e/boe Long-plateau oil assets(2) 0
Slide 13: Oil Downstream integration: aligning sales to production
Oil Downstream integration: aligning sales to production Mboe/d 2,5 2,0 Oil product sales Converting refineries 1,5 vs 2019 to biorefineries in Europe Being selective on Marketing sales 1,0 Refining throughput Adapting European retail Oil Product sales network to lower demand Oil production 0,5 (EV…
Slide 14: Integrated LNG: new projects fueling LNG growth
Integrated LNG: new projects fueling LNG growth Mt/y 25 20 Qatar NFE North Field East & North Field South Cameron Ph. 2, ECA-1 ECA 15 NLNG T7 10 5 Russia Papua LNG Giant Area-1 resources Papua LNG 2021 2027 2030 Building a multi-energy company March 2023 – Strategy, Sustainability & Climate | 14
Slide 15: Integrated Power: capturing value from integration
Integrated Power: capturing value from integration Integrated Power segment reported from Q1 2023 Renewables Flexible Storage Trading Customers generation Generate , after CCGTs complement Manage intermittency Leverage trading capacities Develop B2B, B2C and financing and farm-down renewable product
Slide 16: Investing in low-carbon molecules for the energy transition
Investing in low-carbon molecules for the energy transition Doubling circularity within the next 10 years Biofuels Biogas 1.5 Mt/y SAF in 2030 20 TWh/y of biomethane production Targeting 10% market share by 2030 Priority to waste and residues Strong demand for bio-LNG & bio-CNG for > 75% from 2024 t
Slide 17: Deploying CCS strategy
Deploying CCS strategy Reducing emissions and developing a profitable business North America Europe Middle East Asia Pacific Norway Snøhvit Papua LNG, op. Ichthys Norway Northern Lights Qatar Cameron LNG Denmark, op. United Kingdom Netherlands, op. Antwerp Leuna Normandy CCS project (operation, cons
Slide 18: The most profitable major also investing the most for the future
The most profitable major also investing the most for the future System A: today’s energies System B: tomorrow’s energies Low cost, low emission resilient portfolio capturing Drive value from integration (ROACE >10%): low-cost upside from high energy prices renewable & flexible production, storage,
Slide 19: Less emissions
TS TotalEnergies Climz less emis
Slide 20: Strengthening the 2025 and 2030 objectives
Strengthening the 2025 and 2030 objectives In red: new targets 2022 2025 2030 Mt CO2e 40 38 25-30* Scope 1+2 emissions < 40 vs 46 Mt in 2015 -13% -17% > -40%* on operated kt CH4 42 Methane emissions -50% -80% activities vs 64 kt in 2020 -34% Routine flaring Mm3/d 0.5 < 0.1 0 Lifecycle carbon intensi
Slide 21: Emission reduction objectives in line with IEA < 2°C scenarios
Emission reduction objectives in line with IEA < 2°C scenarios Base 100 in 2015 Scope 1+2+3 (base 100 in 2015) 2015 2020 2025 2030 2035 2015 2020 2025 2030 2035 10% 10% STEPS 2022 0% 0% (2.5°C in 2100) -10% -10% -20% -20% APS 2022 STEPS 2022 (1.7°C in 2100) (2.5°C in 2100) -30% -30% -40% -40% APS 20
Slide 22: Climate transition strategy evaluated by third parties
Climate transition strategy evaluated by third parties vs 2015 > -40% Reaffirmed TotalEnergies long-term emissions reduction targets are ambitious enough to reach net zero by 2050 and to align IEA NZE scenario 2022 -35% with their 1.5°C benchmark. One of six companies (over 582) to receive the highe
Slide 23: Scope 1+2 Oil & Gas: 1 B$ energy saving plan
Scope 1+2 Oil & Gas: 1 B$ energy saving plan to accelerate emissions reduction Mt CO2e 46 EP – Gas compressor efficiency RC – Heat and steam consumption vs 2015 Conversion to electric drive Heat exchanger & furnace optimization Efficiency improvement (re-bundling) Steam network enhancement: steam 40
Slide 24: Scope 1+2: reducing CO2 emissions by 2030 using best available technologies
Scope 1+2: reducing CO2 emissions by 2030 using best available technologies Levers Mt CO2e Portfolio 46 net change CCGT vs. 2015 40 Go Green RC – Low-carbon H2 at Grandpuits Emission reduction 25-30 initiatives Cover all industrial sites’ power needs with New 20 kt H2/y production unit with (incl. C
Slide 25: Aiming for zero methane emissions
Aiming for zero methane emissions TotalEnergies at the forefront of the fight Worldwide on-site detection and measurement campaign with our AUSEA drones -34% of CH4 reduction vs 2020 < 0.1% CH4 intensity for operated gas assets Reducing our Emission Leadership in terms of reporting OGMP 2.0 Gold sta
Slide 26: Further reducing Scope 3 Oil by 2030
Further reducing Scope 3 Oil by 2030 MtCO2e 400 350 New New Proactively anticipating oil 254 demand decline in Europe with higher EV penetration -30% 200 Scaling back oil sales for applications where competitive low-carbon alternatives are available 0 2015 2022** 2025 2030 * From energy products use
Slide 27: Invest in infrastructures to promote new mobility
Invest in infrastructures to promote new mobility Financing > 2 B$ low-carbon energies for mobility over 2023-27 E-mobility Hydrogen mobility All highway service-stations equipped with fast charging 50/50 JV with Air Liquide solution by 2023: 40% market share in France Stations to be located on stra
Slide 28: Scope 3 Gas mitigated by avoided emissions
Scope 3 Gas mitigated by avoided emissions LNG reduces our clients’ emissions when displacing oil and coal for power generation Gas Oil Coal MtCO2e 2022 LNG to to to Gas Enabled Emission Country LNG displacing Power Power Power used in emission reduction Efficiency(4) Enabled sales Power reduction e
Slide 29: Scope 3: supporting our customers in their decarbonization journey
Scope 3: supporting our customers in their decarbonization journey Providing solutions for the 1st carbon-free cement Metals (steel and others) plant in Belgium Cement (construction materials) Partnership with Holcim to study: Chemicals & Industrial Gases • CCUS target of ~ Food & Beverage • Green p
Slide 30: Integrating sustainability into our strategy, projects and operations
Integrating sustainability into our strategy, projects and operations Planet People Profits March 2023 – Strategy, Sustainability & Climate | 30
Slide 31: Planet
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Slide 32: Taking care of biodiversity
Taking care of biodiversity Case study Poaching affecting Murchison Falls National Park’s biodiversity Uganda Wildlife Authority (UWA) has limited financial and material resources Promoting a collaborative management model for the park between UWA, the Public Authority in Uganda and an experienced c
Slide 33: Preserving scarce freshwater resources
Preserving scarce freshwater resources Case study -20% freshwater withdrawals by 2030 TotalEnergies’ largest refining & petrochemicals vs 2021 at our sites located in water complex in Europe stressed areas Water stressed urban area, with 620,000 inhabitants, regularly subject to droughts <1 mg/l hyd
Slide 34: People
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Slide 35: Caring for our employees
Caring for our employees Listening our people and promoting their well-being TotalEnergies’ TotalEnergies’ Protecting the physical and mental health engagement score well-being score of our worldwide employees 80.3 76.4 78.6 Providing decent remuneration 73 87% 73% and social protection Promoting a
Slide 36: Promoting a diverse and inclusive workplace
Caring for our employees Promoting a diverse and inclusive workplace 45% 40% 37% 34% 6% of the workforce in France* 32% 32% 30% 30% 27% Launch of a new specific training: 24% 80 managers received 22% 19% the “handimanagers” label executives executives managers managers Development of an internal gui
Slide 37: Respect of Human Rights
Respect of Human Rights Our values and our Code of conduct United Nations Guiding Principles on business and human rights and OECD rules Human rights Human rights Human rights in security- EXCOM member, President in the workplace of local communities related activities Strategy and Sustainability He
Slide 38: Engaging our suppliers
Engaging our suppliers Promoting sustainability across the supply chain Climate stewardship Duty of care Mobilization & Training Ensuring that, by 2025, our 400 suppliers 200 suppliers audited on human rights Organization of a Suppliers Day Event representing 70% of our Scope 3 upstream dedicated to
Slide 39: Resilience vs climate risks
TS TotalEnergies Resilience vs climate risks
Slide 40: Portfolio resilience to climate-related risks
Portfolio resilience to climate-related risks Technical cost, $/b 2030 40 Oil portfolio average -15% NPV7(4) 20 Long-plateau oil assets(2) vs internal price criteria, using IEA 2022 NZE 0 NZE 1.5°C APS 1.7°C STEPS 2.5°C scenario prices(5) 00 50 50 100 100 World oil demand, IEA scenarios, Mb/d 2040 4
Slide 41: Investing in resilient new hydrocarbon projects
Investing in resilient new hydrocarbon projects 2022 approved oil & gas projects 30 $/boe 20 Operating costs (ASC 932): 5.6 $/boe in 2022 Scope 1+2 O&G operated emissions: 17 kgCO2e/boe 1 2 3 4 5 6 7 8 9 10 11* 12* * After-tax breakeven < 30 $/b Profitability evaluated using % vs. portfolio average
Slide 42: Integrating climate in financial statements
Integrating climate in financial statements Financial Statements aligned with our Sustainability Price scenarios converging to IEA NZE price & Climate Commitments deck in 2050 for both Oil & Gas CO2 assumption at 100 $/t* for all assets Comprehensive Climate Sensitivity analysis on impairment tests
Slide 43: Pioneering TCFD reporting since 2017
Pioneering TCFD reporting since 2017 Identifying, assessing and managing climate-related risks Transition risks Physical risks Transition risks Physical risks Policy and Technology Market Reputation Acute Chronic legal risks risk risk risk risk risk Pace of the energy transition deployment, evolutio
Slide 44: EU Taxonomy – a company in transition
EU Taxonomy – a company in transition Reporting under proportional view is more relevant for the energy industry Other activities Increased eligibility/alignment Biofuels supported by investment in & Chemicals Integrated Power Electricity & Renewables Strong case for inclusion into SFDR article 8 fu
Slide 45: Upcoming events and useful links
Upcoming events and useful links March 21st Reference documents available at TotalEnergies.com Publication of the 2023 Sustainability & Climate Progress Report Sustainability & Climate 2023 Progress Report April 27th ESG Data book 1Q 2023 results Annual results Tax transparency report May 26th Unive
Slide 46: Cautionary note and adjustment items
These adjustment items include: 1. Special items Due to their unusual nature or particular significance, certain transactions qualified as “special items” are excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. How
Slide 47: For more information go to
Corporate Communications TotalEnergies SE 2, place Jean-Millier 92400 Courbevoie, France Tel.: +33 (0)1 47 44 45 46 Share capital: €6,225,655,060.00 Registered in Nanterre: RCS 542 051 180 For more information go to