6-K
TotalEnergies SE (TTE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
March 1^st^, 2023
Commission File Number 001-10888
TotalEnergies SE
(Translation of registrant’s name into English)
2, place Jean Millier
La Défense 6
92400 Courbevoie
France
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
TotalEnergies SE is providing on this Form 6-K a description of certain recent developments relating to its business.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TotalEnergies SE | |||
|---|---|---|---|
| Date: March 1^st^, 2023 | By: | /s/ MARIE-SOPHIE WOLKENSTEIN | |
| Name: | Marie-Sophie Wolkenstein | ||
| Title: | Company Treasurer |
Exhibit 99.1
| PRESS<br> RELEASE |
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TotalEnergies Starts Up its Fourth Solar PowerPlant in Japan
Paris/Tokyo, 1^st^February 2023 – TotalEnergies has started up commercial operation of a 51-megawatt (MW) solar power plant located in Tsu, Mie Prefecture, Japan.
The plant, connected to the electricity distribution grid, will supply its electricity to Chubu Electric Power Miraiz Co. Inc., a subsidiary of the regional utility company, through a power purchase agreement over a 17-year period.
Built in 2 years, the Haze power plant is operated with nearly 100,000 high-efficiency solar panels, ensuring the highest performance in mitigated weather conditions. The supports and foundations of the solar panels are designed in consideration of earthquakes and typhoons.
The Haze power plant operates on a surface of nearly 77 hectares and will provide enough clean and reliable electricity to serve nearly 20,000 households.
“We are delighted of the successful start-up of Tsu Haze, our fourth large scale solar power plant in Japan, with our partners Suzuka Group and Tohoku Electric. This marks a new milestone in the deployment of our renewable energy activities in Japan. With more than 150 MW of cumulative capacity in operation, we are proud to contribute to the country's energy transition.” said Vincent Stoquart, Senior Vice-President Renewables at TotalEnergies.
The commercial operation of Haze Solar Power Plant follows:
| · | 27MW<br> Nanao Solar Power Plant which is in operation since 2017 |
|---|---|
| · | 25MW<br> Miyako Solar Power Plant which is in operation since 2019 |
| --- | --- |
| · | 52MW<br> Osato Solar Power Plant which is in operation since 2021 |
| --- | --- |

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TotalEnergiesand renewables electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end of 2022, TotalEnergies' gross renewable electricity generation installed capacity was 17 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 producers of electricity from wind and solar energy.
AboutTotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergiesContacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company”or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectlycontrolled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to referto these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separatelegal entities. This document may contain forward-looking information and statements that are based on a number of economic data andassumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subjectto a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-lookinginformation or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recentUniversal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulatorAutorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission(SEC).
Exhibit 99.2
| PRESS RELEASE |
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ESG: TotalEnergies CAC40 transparency leadertowards investors in the annual ranking of the Forum pour l'Investissement Responsable
Paris, February 1, 2023 - TotalEnergies tops the ranking of the Forum pour l'Investissement Responsable (FIR), which on January 25 released the survey results for all CAC40 companies ahead of their 2022 Annual Shareholders' meetings: "How does the CAC 40 meet investor expectations?"
FIR is a french association representing all stakeholders in Social and Responsible Investment (SRI). Its purpose is to promote and develop responsible investment and its best practices. It promotes dialogue and involvement with listed companies on sustainable development issues.
The campaign questions focused on Environmental, Social and Governance (ESG) issues such as climate, biodiversity, the circular economy, living wages, ESG pay criteria, tax practices and the inclusion of social partners in corporate responsibility plans.
The consolidated score on all the questionsgave TotalEnergies an overall result of 2.1/3, which makes it the joint winner with Orange.
"This top place is both a welcome recognition for TotalEnergies and above all an incentive to do even better. Our company is working to continuously improve and it is this spirit that guides our corporate governance, our stakeholder relations, our transformation strategy and our ambition for 2050," says HelleKristoffersen, President Strategy & Sustainability at TotalEnergies.
These results reflect TotalEnergies' commitment to dialogue and transparency in line with its principle of action towards investors and stakeholders.
In March 2023, TotalEnergies will publish its Sustainability & Climate - 2023 progress report, which will report the progress made on the Company’s ambition with respect to sustainable development and energy transition towards carbon neutrality and its related targets by 2030.
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About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
| · | Media Relations:<br> +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR |
|---|---|
| · | Investor Relations:<br> +33 (0)1 47 44 46 46 l [email protected] |
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TotalEnergies on social media
| · | Twitter<br> : @TotalEnergies |
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| · | LinkedIn<br> : TotalEnergies |
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| · | Facebook<br> : TotalEnergies |
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| · | Instagram<br> : TotalEnergies |
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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidatedentities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our”may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly ownsa shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This documentmay contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic,competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. NeitherTotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement,objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerningrisk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document,the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des MarchésFinanciers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Exhibit 99.3

JOINT PRESS RELEASE
TotalEnergies and Air Liquide join forces todevelop anetwork of over 100 hydrogen stations for heavy dutyvehicles in Europe
Paris, February 2, 2023 - TotalEnergies and Air Liquide announce their decision to create an equally owned joint venture to develop a network of hydrogen stations, geared towards heavy duty vehicles on major European road corridors. This initiative will help facilitate access to hydrogen, enabling the development of its use for goods transportation and further strengthening the hydrogen sector.
The partners aim to deploy more than 100 hydrogen stations on major European roads - in France, Benelux and Germany - in the coming years. These stations, under the TotalEnergies brand, will be located on major strategic corridors.
This agreement will lead to the creation of a major player in hydrogen refueling solutions and contribute to the decarbonization of road transportation in Europe. The two companies will combine their know-how and expertise in infrastructure, hydrogen distribution and mobility:
| - | TotalEnergies will bring its expertise in the operation and management of stations networks and the distribution<br>of energies to BtoB customers; |
|---|---|
| - | Air Liquide will contribute with its expertise in technologies and its mastery of the entire hydrogen<br>value chain. |
| --- | --- |
The joint venture, which will be jointly managed by TotalEnergies and Air Liquide, will invest, build and operate these stations, as well as procure hydrogen from the market and dispense it to its transport customers.
"Following the recent signature of a partnershipfor the production of renewable and low-carbon hydrogen on our Grandpuits Zero Crude Platform, we are pleased to once again join forceswith Air Liquide and continue our common efforts to decarbonize mobility. As pioneers in hydrogen mobility, we are convinced of the necessityto start building now a heavy-duty network that will benefit our customers” says Thierry Pflimlin, President Marketing &Services, TotalEnergies. "This new partnership with Air Liquide will enable us to continue our development across the entirehydrogen value chain."
Matthieu Giard, Vice President and ExecutiveCommittee Member of the Air Liquide Group, supervising the Hydrogen activities, underlines: "Hydrogen offers clear benefitsfor heavy duty mobility. To promote its widespread use, it is imperative to accelerate the development of refueling infrastructures andto offer vehicle manufacturers and transport operators a sufficiently dense network of stations. It is precisely the ambition of thisjoint venture, which will benefit from the complementary expertise of Air Liquide and TotalEnergies. As a leader for over 60 years andwith unique know-how and technologies, Air Liquide is a major player to accelerate and scale up the development of hydrogen, a key elementfor the emergence of a low-carbon society."
The two partners plan to establish their joint venture in 2023, subject to the finalization of the appropriate contractual documentation and to the receipt of the necessary regulatory approvals.
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TotalEnergies Contacts
| · | Media<br> Relations: +33 1 47 44 46 99 l [email protected] l @TotalEnergiesPR |
|---|---|
| · | Investor<br>Relations: +33 (0)1 47 44 46 46 l [email protected] |
Air Liquide Contacts
| · | Corporate<br> Communications: [email protected] |
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| · | Investor<br> Relations: [email protected] |
| --- | --- |
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
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About Air Liquide
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.
Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.
Cautionary Note
The terms “TotalEnergies”, “TotalEnergiescompany” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that aredirectly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” mayalso be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholdingare separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may containforward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitiveand regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergiesSE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trendscontained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, thatmay affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-languageversion of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF),and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Exhibit 99.4
| PRESS<br> RELEASE |
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TotalEnergies’ Statement on its Investmentsin India
Paris, February 3, 2023 – Following the allegations against Adani Group published by the Hindenburg Research company on January 24, 2023, TotalEnergies wishes to bring the following information regarding its joint investments in India in partnership with Adani since 2018.
TotalEnergies’ investments in Adani’s entities were undertaken in full compliance with applicable – namely Indian – laws, and with TotalEnergies’ own internal governance processes. The due diligence, which were carried out to TotalEnergies’ satisfaction, were consistent with best practices, and all relevant material in the public domain was reviewed, including the detailed disclosures to regulators required under applicable laws. TotalEnergies welcomes the announcement by Adani to mandate one of the "big four" accounting firms to carry out a general audit.
The entities TotalEnergies has invested in with Adani are managed in accordance with applicable regulations. The day-to-day operations of the entities listed in India, Adani Total Gas Limited (ATGL) and Adani Green Energy Limited (AGEL), are managed by independent teams of professional managers, and their boards are composed of at least 50% independent and non-executive directors (5/9 for ATGL and 5/10 for AGEL). S. R. Batliboi & Co. LLP, a member company of the international financial audit firm EY is AGEL’s statutory auditor.
The following table lists TotalEnergies’ current stakes in ventures with Adani:
| Adani Total Private Limited | 50% |
|---|---|
| Adani Total Gas Limited (listed) | 37.4% |
| Adani Green Energy Limited (listed) | 19.75% |
| AGEL23 | 50% |
TotalEnergies’ exposure resulting from these stakes is limited, as it represents 2.4% ($3.1 billion at December 31, 2022) of the Company’s capital employed and only 180 M$ of net operating income in 2022. These investments being accounted for under the equity method, TotalEnergies has not performed any re-evaluation in its accounts of its stakes in the listed entities ATGL and AGEL in relation to the increase in their stock values.
About TotalEnergies’ partnerships with Adani Group
In 2018, TotalEnergies and Adani Group embarked on an energy partnership with the development of a joint LNG business, Adani Total Private Limited (ATPL). ATPL aims to develop the Dhamra LNG regasification terminal – which is expected to start operations in Q2 2023 – and to market LNG.
In 2019, TotalEnergies announced the acquisition of a 37.4% stake in the listed entity Adani Total Gas Limited, a city gas distribution business. As of end 2022, ATGL operated 33 city gas licenses and some 380 compressed natural gas (CNG) stations.
In 2020, TotalEnergies and Adani Group extended their relationship, with the acquisition by TotalEnergies of a 20% minority interest in the listed company Adani Green Energy Limited, and a 50% stake in a 2.35 GWac portfolio of operating solar assets owned by AGEL (AGEL23), for a total investment of $2.5 billion. AGEL has around 7 GWac in operation, 10 GWac in construction and 3 GWac in late development.
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About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
|---|
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company”or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectlycontrolled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to referto these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separatelegal entities. This document may contain forward-looking information and statements that are based on a number of economic data andassumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subjectto a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-lookinginformation or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recentUniversal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulatorAutorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission(SEC).
Exhibit99.5
| PRESS<br> RELEASE |
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TotalEnergies Sells Stakein Renewable Portfolioto Crédit Agricole Assurances
Paris, February 3^rd^2023 – As part of its strategy of profitable growth in renewable energies, TotalEnergies is selling to Crédit Agricole Assurances 50% of a 234 MW portfolio of renewable projects, including 23 solar power plants with a capacity of 168 MW and 6 wind farms with a capacity of 67 MW. Of the 29 power plants in the portfolio, 25 are already operational (180 MW) and the four others (54 MW) will be commissioned in the first half of 2023.
This transaction implies an enterprise value of the portfolio of $ 300 million (100%) equivalent to a multiple of 16 EBITDA.
This partial sale to Crédit Agricole Assurances allows TotalEnergies to accelerate project cash flows and improve the return on invested capital, in line with its business model for renewable energy development.
TotalEnergies’ teams will continue to ensure the asset management, operation and maintenance of the 29 power plants. They will provide enough energy for 200,000 people and will prevent the emission of some 96,000 tons of CO2 per year for thirty years.
“This partial sale demonstrates the strength of our business model, which ensures a return on invested capital in renewable energies of more than 10%. We are pleased to partner with Crédit Agricole Assurances and support its investment in the energy transition. With its strong teams and business model, TotalEnergies intends to continue its development in France where we aim to reach 4 GW of renewable generation capacity by 2025,” said VincentStoquart, Senior Vice President, Renewables at TotalEnergies.
"This transaction is in line with our strategy as a long-term institutional investor in the acceleration of renewable energies, in favor of the energy transition and a low-carbon economy. In line with the Crédit Agricole Group's climate commitments, this transaction will increase our investments in renewable energies and help us reach an installed capacity of 14 GW by 2025," said Florence Barjou, Head of Investments at Crédit AgricoleAssurances.
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TotalEnergies and renewable electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end 2022, TotalEnergies' gross renewable electricity generation installed capacity is 17 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 producers of electricity from wind and solar energy.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
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About Crédit Agricole Assurance
Crédit Agricole Assurances, France's leading insurer, brings together the insurance subsidiaries of Crédit Agricole. The Group offers a range of savings, pension, health, personal protection and property insurance products and services. They are distributed by the Crédit Agricole Group's banks in France and in eight countries around the world, by wealth management advisors and general agents. Crédit Agricole Assurances' companies cater to individuals, professionals, farmers and businesses. Crédit Agricole Assurances has 5,300 employees. Its premium income at the end of 2021 will amount to 36.5 billion euros (IFRS standards).
www.ca-assurances.com
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
Crédit Agricole Assurances Contacts
Françoise Bololanik : + 33 (0)1 57 72 46 83 / 06 25 13 73 98
Nicolas Leviaux : +33 (0)1 57 72 09 50 / 06 19 60 48 53
Cautionary Note
This press release, from which no legal consequencesmay be drawn, is for information purposes only. The entities in which TotalEnergies SE directly or indirectly owns investments are separatelegal entities. TotalEnergies SE has no liability for their acts or omissions. The terms “Company” or “TotalEnergiescompany” refer collectively to the company TotalEnergies SE and the companies it controls directly or indirectly. Such terms areused solely for the sake of convenience for purposes of the present communication. Likewise, the words “we”, “us”and “our” may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-lookinginformation and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatoryenvironment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE norany of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trendscontained in this document whether as a result of new information, future events or otherwise.
Exhibit 99.6
| PRESS RELEASE |
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Mozambique LNG: TotalEnergiesEntrusts Jean-ChristopheRufin with an Independent Mission to Assess the Humanitarian Situation in Cabo Delgado Province
Paris, February 3, 2023 – Patrick Pouyanné, Chairman and CEO of TotalEnergies, visited the Cabo Delgado province of Mozambique today to review the security and humanitarian situation. He visited the Afungi industrial site, the resettlement village of Quitunda, the towns of Palma and Mocimboa da Praia and met with President Filipe Nyusi to discuss the security and humanitarian situation in Cabo Delgado province, where the Mozambique LNG project is located.
During this visit, Patrick Pouyanné said he has entrusted Jean-Christophe Rufin, a recognized expert in humanitarian action and human rights, with an independent mission to assess the humanitarian situation in Cabo Delgado province. This mission will also evaluate the actions taken by Mozambique LNG and will propose any additional actions to be implemented, if required. The report of this mission will be delivered at the end of February and its conclusions will be shared with all Mozambique LNG's partners, who shall decide whether the conditions are met for resuming project activities.
On April 26, 2021, considering the evolution of the security situation in the north of Cabo Delgado province, Mozambique LNG had decided to withdraw all project personnel from the Afungi site. This situation also led the Mozambique LNG project partners to declare force majeure.
“Since 2021, the situation in Cabo Delgado province has improved significantly, thanks in particular to the support provided by the African countries that committed themselves to restore peace and security, said Patrick Pouyanné, CEO of TotalEnergies. The lifting of the force majeure and the resumption of activities at the Mozambique LNG project site require, in particular the restoration of security in the region, the resumption of public services and the return to normal life for the people of the region. The mission entrusted to Jean-Christophe Rufin should enable Mozambique LNG's partners to assess whether the current situation allows for a resumption of activities while respecting human rights.”
Mozambique LNG is the first onshore development of a liquefied natural gas (LNG) plant in the country. The project includes the development of the Golfinho and Atum fields located in Offshore Area 1 and the construction of two liquefaction trains with a total capacity of 13,1 million tons per annum (mtpa).
TotalEnergies EP Mozambique Area 1 Limitada, a wholly owned subsidiary of Total SE, holds a 26.5% interest alongside ENH Rovuma Área Um, S.A. (15%), Mitsui E&P Mozambique Area1 Limited (20%), ONGC Videsh Rovuma Limited (10%), Beas Rovuma Energy Mozambique Limited (10%), BPRL Ventures Mozambique B.V. (10%), and PTTEP Mozambique Area 1 Limited (8.5%).
About Jean-Christophe Rufin
Medical doctor, involved in the humanitarian movement since 1977, he has carried out numerous field missions in Nicaragua, Eritrea, Sudan and the Philippines. He was Vice President of Doctors Without Borders (1991-92) and President of Action Against Hunger – ACF (2003-2006). He served as advisor to France’s Secretary of State for Human Rights from 1986 to 1988, cultural and cooperation attaché in Brazil from 1988 to 1989, advisor to the French Minister of Defense, in charge of peacekeeping operations from 1993 to 1994, and French Ambassador to Senegal and Gambia from 2007 to 2010.
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About TotalEnergies in Mozambique
Present in Mozambique since 1991, the Company operates in the Exploration & Production and Marketing & Services segments. TotalEnergies Marketing Moҫambique SA is a major player in the downstream petroleum products market with a nationwide gas stations network, industrial and mining customers, lubricants and logistics. In December 2021, TotalEnergies strengthens its presence in Mozambique with the acquisition of BP's service station network, petroleum product sales business and logistics assets. TotalEnergies EP Mozambique Area 1 Limitada, a wholly owned subsidiary of TotalEnergies, operates Mozambique LNG with a 26.5% participating interest.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
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Cautionary Note
The terms “TotalEnergies”, “TotalEnergiescompany” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that aredirectly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” mayalso be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholdingare separate legal entities. This document may contain forward-looking information and statements that are based on a number of economicdata and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future andare subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publiclyany forward-looking information or statement, objectives or trends contained in this document whether as a result of new information,future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activitiesis provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE withthe French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United StatesSecurities and Exchange Commission (SEC).
Exhibit 99.7

Disclosure of Transactions in Own Shares
Paris, February 6, 2023 – In accordance with the authorization given by the ordinary shareholders’ general meeting on May 25, 2022 to trade on its shares and pursuant to applicable law on share repurchase, TotalEnergies SE (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from January 30 to February 3, 2023:
| Transaction Date | Total daily volume (number of shares) | Daily weighted average purchase price of shares (EUR/share) | Amount of transactions (EUR) | Market (MIC Code) |
|---|---|---|---|---|
| 30/01/2023 | 366,250 | 57.863863 | 21,192,639.82 | XPAR |
| 30/01/2023 | 150,000 | 57.888769 | 8,683,315.35 | CEUX |
| 30/01/2023 | 25,000 | 57.882528 | 1,447,063.20 | TQEX |
| 30/01/2023 | 10,000 | 57.878383 | 578,783.83 | AQEU |
| 31/01/2023 | 377,221 | 57.113194 | 21,544,296.15 | XPAR |
| 31/01/2023 | 150,000 | 57.095644 | 8,564,346.60 | CEUX |
| 31/01/2023 | 25,000 | 57.105106 | 1,427,627.65 | TQEX |
| 31/01/2023 | 10,000 | 57.172185 | 571,721.85 | AQEU |
| 01/02/2023 | 393,148 | 56.625166 | 22,262,070.76 | XPAR |
| 01/02/2023 | 131,317 | 56.707760 | 7,446,692.92 | CEUX |
| 01/02/2023 | 23,494 | 56.775060 | 1,333,873.26 | TQEX |
| 01/02/2023 | 15,597 | 56.776331 | 885,540.43 | AQEU |
| 02/02/2023 | 386,127 | 55.426385 | 21,401,623.76 | XPAR |
| 02/02/2023 | 150,000 | 55.420069 | 8,313,010.35 | CEUX |
| 02/02/2023 | 25,000 | 55.435284 | 1,385,882.10 | TQEX |
| 02/02/2023 | 10,000 | 55.453141 | 554,531.41 | AQEU |
| 03/02/2023 | 381,982 | 56.100909 | 21,429,537.42 | XPAR |
| 03/02/2023 | 150,000 | 56.082508 | 8,412,376.20 | CEUX |
| 03/02/2023 | 25,000 | 56.058230 | 1,401,455.75 | TQEX |
| 03/02/2023 | 10,000 | 55.931897 | 559,318.97 | AQEU |
| Total | 2,815,136 | 56.620962 | 159,395,707.80 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the TotalEnergies website: https://totalenergies.com/investors/shares-and-dividends/total-shares/info/company-share-transactions
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
* * * * *
TotalEnergies contacts
Media Relations: +33 1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l [email protected]
Exhibit 99.8
| PRESS RELEASE |
|---|
Denmark:TotalEnergies Obtains Two CO****2 Storage Licensesin the Danish North Sea
Paris, February 6, 2023 - TotalEnergies has been awarded two licenses to explore CO2 storage potential in the Danish North Sea. The licenses are located 250 kilometers off the west coast of Denmark and cover an area of 2,118 km^2^.
The acreage includes the Harald gas fields, currently operated by TotalEnergies, for which the Company is already assessing CO2 storage opportunities within the framework of the Bifrost project, as well as a saline aquifer that could increase CO2 storage volumes and bring a competitive solution to the market.
Alongside state-owned Nordsøfonden (20%), TotalEnergies (80%) will be the future operator of the offshore CO2 storage licenses. The Company will carry out evaluation and appraisal work to develop a project that could ultimately transport and permanently store more than 5 Mt CO2/year, by repurposing existing infrastructure in the Danish North Sea and building new facilities.
“TotalEnergies is pleased to have beenawarded these two CO2 storage licenses in Denmark. With its large geological storage potential andits proximity to major industrial emitters in Central Europe, Denmark can play a leading role in carbon capture and storage on the continent,” said Arnaud Le Foll, Senior Vice President New Business - Carbon Neutrality at TotalEnergies. “With the Northern Lightsproject under construction in Norway and projects under development in the Netherlands and the UK, the North Sea area will be the maincontributor to our objective of 10 Mt/y of CO2 storage by 2030 and to the decarbonization of the Europeaneconomy.”

***
About TotalEnergies in Denmark
TotalEnergies is Denmark’s leading oil and gas company, employing a diverse and international workforce of around 1,200 people. We are responsible for 85% of the oil and 97% of the national gas produced and are developing one of the leading carbon storage projects, which is expected to save millions of tons of CO2 in depleted oil and gas reservoirs in the Danish North Sea. TotalEnergies’ operations date back more than half a century, representing an important contribution to Denmark’s economy, energy supply and employment. In addition to its oil and gas activities, TotalEnergies is working on establishing new business activities in offshore wind, solar energy and other renewable energy sources.
About TotalEnergies and Carbon Capture and Storage(CCS)
TotalEnergies’ focus is first to avoid then to reduce its emissions by developing and deploying a systematic approach, asset-by-asset, to implement the best available technologies. In particular, the Company is developing industrial projects for carbon capture, transport, and storage (CCS). Backed by core competencies in large-scale project management, gas processing and geosciences, TotalEnergies is on track to achieve its ambition of developing storage capacity of 10 million metric tons of CO2 per year by 2030 through significant industrial projects such as Northern Lights in Norway and Aramis in the Netherlands. Through all its CCS projects, the Company will reduce its own emissions and those of its customers.
About the Bifrost project, a strong alliance uniting state, industryand academia
Bifrost project will be key for Denmark to meet its carbon neutrality goals and to provide employment alternatives to the work force currently related to oil and gas production.
Bifrost project builds on the learnings from the ongoing two-year studies, carried out with the support of the Danish Energy Technology Development and Demonstration Programme. The project is headed by TotalEnergies and performed together with the DUC partners (Noreco and Nordsøfonden), Ørsted and the Technical University of Denmark.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
|---|
Cautionary Note
The terms “TotalEnergies”, “TotalEnergiescompany” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that aredirectly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” mayalso be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholdingare separate legal entities. This document may contain forward-looking information and statements that are based on a number of economicdata and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future andare subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publiclyany forward-looking information or statement, objectives or trends contained in this document whether as a result of new information,future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activitiesis provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE withthe French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United StatesSecurities and Exchange Commission (SEC).
Exhibit99.9
| PRESS<br>RELEASE |
|---|
Fourth quarter and full-year2022 results
TotalEnergies leveragesglobal portfolio
to post adjusted netincome of $7.6 billion in the fourth quarter 2022
and IFRS full-year netincome of $20.5 billion
TotalEnergies confirms2023 pay-out of 35-40% for shareholders
while ensuring its employeesand customers share in value
| Change<br><br> vs 4Q21 | 2022 | Change vs 2021 | |
|---|---|---|---|
| Net<br> income (TotalEnergies share) (B) | -44% | 20.5 | +28% |
| Adjusted<br> net income (TotalEnergies share)(1) | |||
| -<br> in billions of dollars (B) | +11% | 36.2 | x2 |
| -<br> in dollars per share | +17% | 13.94 | x2.1 |
| Adjusted<br> EBITDA(1) (B) | +12% | 71.6 | +69% |
| DACF(1)<br> (B) | -4% | 47.0 | +53% |
| Cash<br> Flow from operations (B) | -52% | 47.4 | +56% |
| Net-debt-to-capital<br> ratio(2) of 7.0% at December 31, 2022 vs. 4.0% at September 30, 2022<br><br>Final 2022 dividend set at 0.74 /share |
All values are in Euros.
Paris, February 8, 2023 – The Board of Directors of TotalEnergies SE, chaired by CEO Patrick Pouyanné, met on February 7, 2023, to approve the 2022 financial statements. On the occasion, Patrick Pouyanné said:
“While down from the previousquarter highs due to uncertainties about the demand outlook, fourth quarter oil and gas prices as well as refining margins remained strongin supply-constrained markets. Benefiting from this favorable environment as well as the increase in its hydrocarbon production (+5%)and LNG sales (+22%), thanks to its unique position in Europe, TotalEnergies reported cash flow of $9.1 billion and adjusted net incomeof $7.6 billion. Including the $4.1 billion impairment related to the deconsolidation of Novatek at year-end 2022, IFRS net income was$3.3 billion.
In 2022, the Company generated $45.7billion of cash flow. IFRS net income was $20.5 billion, including nearly $15 billion in provisions related to Russia (for an adjustednet income of $36.2 billion). Return on equity was 32% and return on capital employed was 28%, demonstrating the quality of its globalportfolio.
The iGRP segment posted adjustednet operating income of $2.9 billion and cash flow of $3.1 billion, up 17% over the quarter, bringing annual results to $12 billion andcash flow to $11 billion. The Company took full advantage of its global LNG portfolio. The Integrated Power activity (covering the electricityand renewables business) generated $1 billion of cash flow over the year, with production of 33 TWh up 57%, and nearly 17 GW of grossrenewable capacity installed at the end of 2022. In order to provide shareholders with a better understanding of the growth strategyof LNG and electricity/renewables, the Board of Directors decided that from the first quarter 2023 iGRP's results will separately reportthe contributions of the Integrated LNG and Integrated Power activities.
Exploration & Production postedadjusted net operating income of $3.5 billion and cash flow of $5.0 billion in the fourth quarter, raising its strong full-year contributionto the Company's cash flow to $26 billion in 2022. Two new discoveries, in Cyprus and Brazil, add to the discoveries already made inNamibia and Suriname in 2022.
Downstream achieved historic performancein 2022 with $8.9 billion in adjusted net operating income and $10.1 billion in cash flow, supported by a refinery utilization rate of82% that fully captured high refining margins. TotalEnergies continues to grow in petrochemicals with the launch of the Amiral project,a world-class integrated complex in Saudi Arabia.
^^
In line with the policy announcedin September 2022, TotalEnergies implemented a balanced cash allocation in 2022, between shareholders (37.2% payout), investments ($16.3billion or 36% of cash flow, including $4 billion in low-carbon energies), and deleveraging (reducing net debt by $12.2 billion, or 27%of cash flow) to end 2022 with gearing of 7%. In addition, the Company has ensured balanced profit sharing with its employees (exceptionalbonus of up to one month’s salary* and wage increases taking into account the inflation rate observed in the various countries)and with its customers through rebates on various energy products to mitigate the increase in energy prices. Governments have also benefitedfrom more than $33 billion in taxes worldwide, more than double the amount in 2021, mostly paid to producing countries,
| ^(1)^ | Definition<br> on page 3. |
|---|
^^
| ^(2)^ | Excluding<br> leases. |
|---|
^^
| * | Payment,<br> capped for high salaries, to employees of all fully owned companies and of companies in which<br> TotalEnergies holds more than 50%, subject to agreement by their governing bodies. |
|---|
1
In view of the growth in structuralcash flow forecast for 2023 and the share buybacks carried out in 2022 (5% of the share capital), the Board of Directors proposes tothe Shareholders’ Meeting the distribution of a final 2022 dividend of €0.74/share, an increase of 6.5% for the ordinary 2022dividend to €2.81/share, plus the special dividend of €1/share paid in December 2022. In addition, the Board of Directors confirmeda shareholder return policy for 2023 targeting a pay-out between 35-40%, which will combine an increase in interim dividends of morethan 7% to €0.74/share and share buybacks of $2 billion in the first quarter. »
1. Highlights**^(3)^**
Social and environmental responsibility
| · | Commercial<br> rebates on electricity prices for VSEs and SMEs |
|---|---|
| · | TotalEnergies<br> ranked first in the CAC40 for investor transparency by the Forum for Responsible Investment |
| --- | --- |
Integrated LNG
| · | Commissioning<br> of the floating LNG regasification unit at the Lubmin terminal in Germany |
|---|---|
| · | Started<br> production on Block 10, and signed a long-term LNG contract for 0.8 Mt/y, in Oman |
| --- | --- |
Integrated Power
| · | Acquired<br> a stake in Brazil's leading renewable developer (Casa dos Ventos) with a portfolio of more<br> than 6 GW of onshore solar and wind projects in Brazil |
|---|---|
| · | Total<br> Eren signed an agreement for development of 1 GW wind project in Kazakhstan |
| --- | --- |
| · | Start-up<br> of 800 MW Al Kharsaah solar power plant in Qatar |
| --- | --- |
| · | 50%<br> Farm-down of a 234 MW portfolio of renewable projects, in France |
| --- | --- |
Upstream
| · | Withdrawal<br> of TotalEnergies representatives from Board of Directors of PAO Novatek and deconsolidation<br> of the Company's 19.4% stake in Novatek |
|---|---|
| · | Acquired<br> additional 4.08% interest in the Waha concessions in Libya |
| --- | --- |
| · | Divested<br> the Dunga field in Kazakhstan |
| --- | --- |
| · | Acquisition<br> by TotalEnergies EP Canada, ahead of its spin-off, of an additional interest in Fort Hills |
| --- | --- |
| · | Launched<br> Lapa South-West project in Brazil |
| --- | --- |
| · | Gas<br> discovery on the Zeus-1 well, located on Block 6 in Cyprus |
| --- | --- |
| · | Oil<br> discovery in the Sépia area, Brazil |
| --- | --- |
| · | Entry<br> to the Agua Marinha offshore exploration block in Brazil |
| --- | --- |
| · | Launched<br> exploration activities on Block 9 for drilling in 2023, in Lebanon |
| --- | --- |
Downstream and new molecules
| · | Final<br> investment decision for the Amiral Petrochemical Complex with Aramco, Saudi Arabia |
|---|---|
| · | Launch<br> with Air Liquide of a renewable and low-carbon hydrogen production project on the Grandpuits<br> platform in France |
| --- | --- |
| · | Start-up<br> of BioBéarn, the largest biogas production unit in France with a capacity of 160 GWh |
| --- | --- |
| · | Memorandum<br> of Understanding with Air France-KLM for the supply of 0.8 Mt of SAF over 10 years |
| --- | --- |
| · | Creation<br> of a joint venture with Air Liquide to develop a network of more than 100 hydrogen stations<br> for trucks in Europe |
| --- | --- |
Decarbonization
| · | Memorandum<br> of understanding with Holcim for a pilot project to decarbonize a cement plant in Belgium |
|---|---|
| · | Entry<br> on two permits for CO2 storage in the North Sea, Denmark |
| --- | --- |
| ^(3)^ | Some<br> of the transactions mentioned in the highlights remain subject to the agreement of the authorities<br> or to the fulfilment of conditions precedent under the terms of the agreements. |
| --- | --- |
2
2. Keyfigures from TotalEnergies’ consolidated financial statements**^(4)^**
| 4Q22 | 3Q22 | 4Q21 | 4Q22<br><br> vs<br> 4Q21 | In millions of dollars, except effective tax rate,<br><br> <br>**** earnings per share and number of shares | 2022 | 2021 | 2022<br><br> vs<br><br> 2021 |
|---|---|---|---|---|---|---|---|
| 15,997 | 19,420 | 14,285 | +12% | Adjusted<br> EBITDA ^(5)^ | 71,578 | 42,302 | +69% |
| 8,238 | 10,279 | 7,316 | +13% | Adjusted<br> net operating income from business segments | 38,475 | 20,209 | +90% |
| 3,528 | 4,217 | 3,525 | - | Exploration<br> & Production | 17,479 | 10,439 | +67% |
| 2,889 | 3,649 | 2,759 | +5% | Integrated<br> Gas, Renewables & Power | 12,144 | 6,243 | +95% |
| 1,487 | 1,935 | 553 | x2.7 | Refining<br> & Chemicals | 7,302 | 1,909 | x3.8 |
| 334 | 478 | 479 | -30% | Marketing<br> & Services | 1,550 | 1,618 | -4% |
| 1,873 | 2,576 | 1,787 | +5% | Contribution<br> of equity affiliates to adjusted net income | 8,254 | 4,190 | +97% |
| 41.4% | 44.1% | 40.2% | - | Effective<br> tax rate ^(6)^ | 40.9% | 37.9% | - |
| 7,561 | 9,863 | 6,825 | +11% | Adjusted<br> net income (TotalEnergies share) | 36,197 | 18,060 | x2 |
| 2.97 | 3.83 | 2.55 | +17% | Adjusted<br> fully-diluted earnings per share (dollars) ^(7)^ | 13.94 | 6.68 | x2.1 |
| 2.93 | 3.78 | 2.19 | +34% | Adjusted<br> fully-diluted earnings per share (euros)* | 13.24 | 5.65 | x2.3 |
| 2,522 | 2,560 | 2,644 | -5% | Fully-diluted<br> weighted-average shares (millions) | 2,572 | 2,647 | -3% |
| 3,264 | 6,626 | 5,837 | -44% | Net<br> income (TotalEnergies share) | 20,526 | 16,032 | +28% |
| 3,935 | 3,116 | 4,681 | -16% | Organic<br> investments ^(8)^ | 11,852 | 12,675 | -6% |
| (133) | 1,587 | (396) | ns | Net<br> acquisitions ^(9)^ | 4,451 | 632 | x7 |
| 3,802 | 4,703 | 4,285 | -11% | Net<br> investments ^(10)^ | 16,303 | 13,307 | +23% |
| 9,135 | 11,736 | 9,361 | -2% | Operating<br> cash flow before working capital changes ^(11)^ | 45,729 | 29,140 | +57% |
| 9,361 | 12,040 | 9,759 | -4% | Operating<br> cash flow before working capital changes w/o financial charges (DACF) ^(12)^ | 47,025 | 30,660 | +53% |
| 5,618 | 17,848 | 11,621 | -52% | Cash<br> flow from operations | 47,367 | 30,410 | +56% |
* Average €-$ exchange rate: 1.0205 in the fourth quarter 2022 and 1.0530 in 2022.
| ^(4)^ | Adjusted<br> results are defined as income using replacement cost, adjusted for special items, excluding<br> the impact of changes for fair value; adjustment items are on page 18. |
|---|---|
| ^(5)^ | Adjusted<br> EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) corresponds to the<br> adjusted earnings before depreciation, depletion and impairment of tangible and intangible<br> assets and mineral interests, income tax expense and cost of net debt, i.e., all operating<br> income and contribution of equity affiliates to net income. |
| ^(6)^ | Effective<br> tax rate = (tax on adjusted net operating income) / (adjusted net operating income –<br> income from equity affiliates – dividends received from investments – impairment<br> of goodwill + tax on adjusted net operating income). |
| ^(7)^ | In<br> accordance with IFRS rules, adjusted fully-diluted earnings per share is calculated from<br> the adjusted net income less the interest on the perpetual subordinated bonds |
| ^(8)^ | Organic<br> investments = net investments excluding acquisitions, asset sales and other operations with<br> non-controlling interests. |
| ^(9)^ | Net<br> acquisitions = acquisitions – assets sales – other transactions with non-controlling<br> interests (see page 20). |
| ^(10)^ | Net<br> investments = organic investments + net acquisitions (see page 20). |
| ^(11)^ | Operating<br> cash flow before working capital changes, is defined as cash flow from operating activities<br> before changes in working capital at replacement cost, excluding the mark-to-market effect<br> of iGRP’s contracts and including capital gains from renewable projects sale. |
The inventory valuation effect is explained on page 22. The reconciliation table for different cash flow figures is on page 20.
| ^(12)^ | DACF<br> = debt adjusted cash flow, is defined as operating cash flow before working capital changes<br> and financial charges. |
|---|
3
3. Keyfigures of environment, greenhouse gas emissions and production
3.1 Environment* – liquids and gas price realizations, refining margins
| 4Q22 | 3Q22 | 4Q21 | 4Q22<br><br> vs<br> 4Q21 | 2022 | 2021 | 2022<br> <br> vs <br> 2021 | |
|---|---|---|---|---|---|---|---|
| 88.8 | 100.8 | 79.8 | +11% | Brent<br> ($/b) | 101.3 | 70.9 | +43% |
| 6.1 | 7.9 | 4.8 | +26% | Henry<br> Hub ($/Mbtu) | 6.5 | 3.7 | +76% |
| 32.3 | 42.5 | 32.8 | -2% | NBP<br> ($/Mbtu) | 32.4 | 16.4 | +97% |
| 30.5 | 46.5 | 35.0 | -13% | JKM<br> ($/Mbtu) | 33.8 | 18.5 | +83% |
| 80.6 | 93.6 | 72.6 | +11% | Average<br> price of liquids ($/b) Consolidated subsidiaries | 91.3 | 65.0 | +41% |
| 12.74 | 16.83 | 11.38 | +12% | Average<br> price of gas ($/Mbtu) Consolidated subsidiaries | 13.15 | 6.60 | +99% |
| 14.83 | 21.51 | 13.12 | +13% | Average<br> price of LNG ($/Mbtu) Consolidated subsidiaries and equity affiliates | 15.90 | 8.80 | +81% |
| 73.6 | 99.2 | 16.7 | x4.4 | Variable<br> cost margin - Refining Europe, VCM ($/t)** | 94.1 | 10.5 | x9 |
| * | The<br> indicators are shown on page 23. | ||||||
| --- | --- | ||||||
| ** | This<br> indicator represents TotalEnergies’ average margin on variable cost for refining in<br> Europe (equal to the difference between TotalEnergies European refined product sales and<br> crude oil purchases with associated variable costs divided by volumes refined in tons). | ||||||
| --- | --- |
3.2 Greenhouse gas emissions^(13)^
| 4Q22 | 3Q22 | 4Q21 | 4Q22<br><br> vs<br><br> 4Q21 | GHG<br> emissions (MtCO2e) | 2022 | 2021 | 2022<br><br> vs<br><br> 2021 |
|---|---|---|---|---|---|---|---|
| 10.1 | 10.3 | 9.9 | +2% | Scope<br> 1+2 from operated facilities ^(14)^ | 39.7 | 37.0 | +7% |
| 8.3 | 8.2 | 8.5 | -2% | of<br> which Oil & Gas | 32.5 | 33.1 | -2% |
| 1.8 | 2.1 | 1.4 | +24% | of<br> which CCGT | 7.2 | 3.8 | +86% |
| 14.7 | 14.0 | - | - | Scope<br> 1+2 - equity share | 56.1 | 53.7 | +4% |
| 107 | 90 | 108 | -1% | Scope<br> 3 from Oil, Biofuels & Gas Worldwide ^(15)^ | 389 | 400 | -3% |
| 58 | 65 | 75 | -22% | of<br> which Scope 3 Oil Worldwide ^(16)^ | 254 | 285 | -11% |
Estimated 2022 quarterly emissions. 2021 quarterly equity share data are not available.
Excluding Covid-19 effect for emissions data from 2Q20 through 2Q22.
| 4Q22 | 3Q22 | 4Q21 | 4Q22 vs 4Q21 | Methane emissions (ktCH4) | 2022 | 2021 | 2022 vs 2021 |
|---|---|---|---|---|---|---|---|
| 11 | 10 | 12 | -8% | Methane<br> emissions from operated facilities | 42 | 49 | -14% |
| 10 | 14 | - | - | Methane<br> emissions - equity share | 47 | 51 | -8% |
Estimated 2022 quarterly emissions. 2021 quarterly equity share data are not available.
The evolution of Scope 1+2 emissions of operated installations in 2022 is mainly due to the increased use of gas-fired power plants (7.2 Mt in 2022 versus 3.8 Mt in 2021), in the context of lower availability of nuclear power plants in France, as well as the start-up of the Landivisiau power plant. Conversely, emissions from Oil & Gas activities fell by 2%.
| ^(13)^ | The<br> six greenhouse gases in the Kyoto protocol, namely CO2,<br> CH4,<br> N2O,<br> HFCs, PFCs and SF6,<br> with their respective GWP (Global Warming Potential) as described in the 2007 IPCC report.<br> HFCs, PFCs and SF6<br> are virtually<br> absent from the Company’s emissions or are considered as non-material and are therefore<br> not counted. |
|---|---|
| ^(14)^ | Scope<br> 1+2 GHG emissions of operated facilities are defined as the sum of direct emissions of greenhouse<br> gases from sites or activities that are included in the scope of reporting (as defined in<br> the Company’s 2021 Universal Registration Document) and indirect emissions attributable<br> to brought-in energy (electricity, heat, steam), excluding purchased industrial gases (H2). |
| --- | --- |
| ^(15)^ | TotalEnergies<br> reports Scope 3 GHG emissions, category 11, which correspond to indirect GHG emissions related<br> to the use by customers of energy products, i.e., combustion of the products to obtain energy.<br> The Company follows the oil & gas industry reporting guidelines published by IPIECA,<br> which comply with the GHG Protocol methodologies. In order to avoid double counting, this<br> methodology accounts for the largest volume in the oil, biofuels and gas value chains, i.e.,<br> the higher of the two production volumes or sales to end customers. For TotalEnergies, in<br> 2022, the calculation of Scope 3 GHG emissions for the oil and biofuels value chains considers<br> products sales (higher than production) and for the gas value chain, marketable gas production<br> (higher than gas sales either as LNG or as part of direct sales to B2B/B2C). |
| --- | --- |
| ^(16)^ | Scope<br> 3 GHG emissions, category 11, which correspond to indirect GHG emissions related to the sale<br> of petroleum products. |
| --- | --- |
4
| 3.3 | Production* | ||||||
|---|---|---|---|---|---|---|---|
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Hydrocarbon production | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 2,812 | 2,669 | 2,852 | -1% | Hydrocarbon<br> production (kboe/d) | 2,765 | 2,819 | -2% |
| 1,357 | 1,298 | 1,278 | +6% | Oil<br> (including bitumen) (kb/d) | 1,307 | 1,274 | +3% |
| 1,455 | 1,371 | 1,574 | -8% | Gas<br> (including condensates and associated NGL) (kboe/d) | 1,458 | 1,545 | -6% |
| 2,812 | 2,669 | 2,852 | -1% | Hydrocarbon<br> production (kboe/d) | 2,765 | 2,819 | -2% |
| 1,570 | 1,494 | 1,509 | +4% | Liquids<br> (kb/d) | 1,519 | 1,500 | +1% |
| 6,681 | 6,367 | 7,328 | -9% | Gas<br> (Mcf/d) | 6,759 | 7,203 | -6% |
* Company production = E&P production + iGRP production.
Hydrocarbon production was 2,812 thousand barrels of oil equivalent per day (kboe/d) in the fourth quarter of 2022, up 5% quarter-on-quarter, benefiting from projects ramp-up (Mero 1 in Brazil, Ikike in Nigeria), resumption of production from Kashagan in Kazakhstan, lower planned maintenance (notably on Ichthys in Australia), and despite the disposal of Termokarstovoye, in Russia.
Hydrocarbon production was 2,765 kboe/d in 2022, down 2% year-on-year, comprised of:
| · | +3%<br> due to start-ups and ramp-ups, notably CLOV Phase 2 and Zinia Phase 2 in Angola, Mero 1 in<br> Brazil and Ikike in Nigeria, |
|---|---|
| · | +2%<br> due to the increase in OPEC+ production quotas, |
| --- | --- |
| · | -3%<br> portfolio effect, notably related to the end of the operating licenses for Qatargas 1 and<br> Bongkot North in Thailand, as well as the effective withdrawal from Myanmar, the exit from<br> Termokarstovoye and Kharyaga in Russia, partially offset by the entry into the Sépia<br> and Atapu producing fields in Brazil, |
| --- | --- |
| · | -1%<br> due to security-related production cuts in Libya and Nigeria, |
| --- | --- |
| · | -1%<br> due to price effect, |
| --- | --- |
| · | -2%<br> due to the natural decline of the fields. |
| --- | --- |
5
4. Analysisof business segments
4.1 IntegratedGas, Renewables & Power (iGRP)
4.1.1 iGRP Results
| **** | **** | **** | 4Q22 | **** | **** | **** | 2022 |
|---|---|---|---|---|---|---|---|
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars | 2022 | 2021 | vs |
| **** | **** | **** | 4Q21 | **** | **** | **** | 2021 |
| 2,889 | 3,649 | 2,759 | +5% | Adjusted<br> net operating income* | 12,144 | 6,243 | +95% |
| 1,301 | 1,888 | 1,321 | -2% | including<br> adjusted income from equity affiliates | 5,838 | 2,696 | x2.2 |
| 650 | 653 | 1,190 | -45% | Organic<br> investments | 1,904 | 3,341 | -43% |
| (211) | 1,718 | 47 | ns | Net<br> acquisitions | 2,089 | 1,165 | +79% |
| 439 | 2,371 | 1,237 | -65% | Net<br> investments | 3,993 | 4,506 | -11% |
| 3,127 | 2,683 | 2,440 | +28% | Operating<br> cash flow before working capital changes ** | 10,754 | 6,124 | +76% |
| 995 | 4,390 | (57) | ns | Cash<br> flow from operations *** | 9,670 | 827 | x11.7 |
| * | Detail<br> of adjustment items shown in the business segment information annex to financial statements. | ||||||
| --- | --- | ||||||
| ** | Excluding<br> financial charges, except those related to lease contracts, excluding the impact of contracts<br> recognized at fair value for the sector and including capital gains on the sale of renewable<br> projects. | ||||||
| --- | --- | ||||||
| *** | Excluding<br> financial charges, except those related to leases. | ||||||
| --- | --- |
In the fourth quarter 2022:
| · | iGRP<br> adjusted net operating income was $2,889 million, up 5% year-on-year, mainly due to the growing<br> contribution of the Integrated Power business, |
|---|---|
| · | iGRP<br> operating cash flow before working capital changes was $3,127 million, up 28% year-on-year,<br> mainly due to the performance of the Integrated LNG business, which benefited from higher<br> prices and the growing contribution of the Integrated Power business, |
| --- | --- |
| · | working<br> capital increased during the quarter, taking into account margin calls in gas and power supply<br> activities. |
| --- | --- |
Full-year 2022:
| · | iGRP's<br> adjusted net operating income was $12,144 million, up 95% year-on-year, thanks to its integrated<br> LNG portfolio, in particular its regasification capacity in Europe, which positioned it to<br> capture the benefit of the favorable pricing environment, and thanks to the growth of the<br> Integrated Power business, |
|---|---|
| · | iGRP<br> operating cash flow before working capital changes was $10,754 million in 2022, up 76% year-on-year,<br> for the same reasons. |
| --- | --- |
Starting in the first quarter of 2023, iGRP results willbe presented in two segments:
| · | Integrated LNG covering LNG production and trading activities as well as biogas and hydrogen activities, | ||||||
|---|---|---|---|---|---|---|---|
| · | Integrated Power covering electricity generation, storage, trading, and B2B B2C gas and power marketing activities. | ||||||
| --- | --- | ||||||
| 4.1.2 | Integrated<br> LNG | ||||||
| --- | --- | ||||||
| **** | **** | **** | 4Q22 | **** | **** | **** | 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Hydrocarbon production for LNG | 2022 | 2021 | vs |
| **** | **** | **** | 4Q21 | **** | **** | **** | 2021 |
| 503 | 418 | 562 | -11% | iGRP<br> (kboe/d) | 469 | 529 | -11% |
| 58 | 40 | 68 | -14% | Liquids<br> (kb/d) | 53 | 63 | -16% |
| 2,420 | 2,067 | 2,697 | -10% | Gas<br> (Mcf/d) | 2,267 | 2,541 | -11% |
| **** | **** | **** | 4Q22 | **** | **** | **** | 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Liquefied Natural Gas in Mt | 2022 | 2021 | vs |
| **** | **** | **** | 4Q21 | **** | **** | **** | 2021 |
| 12.7 | 10.4 | 11.6 | +10% | Overall<br> LNG sales | 48.1 | 42.0 | +15% |
| 4.4 | 4.0 | 4.6 | -4% | incl.<br> Sales from equity production* | 17.0 | 17.4 | -2% |
| 11.4 | 9.2 | 10.1 | +13% | incl.<br> Sales by TotalEnergies from equity production and third party purchases | 42.8 | 35.1 | +22% |
* The Company’s equity production may be sold by TotalEnergies or by the joint ventures.
6
LNG production was 4.4 Mt in the fourth quarter, up 10% from the previous quarter, benefiting from a full quarter of production from Ichthys LNG in Australia after a planned maintenance in the third quarter. Production declined by 2% over the year, despite the restart of Snøhvit, Norway, in the second quarter, due to the end of the Qatargas 1 operating license and supply issues at Nigeria LNG.
Total LNG sales were up 22% in the quarter and 15% in the year, supported by strong LNG demand in Europe.
Adjusted net operating income for Integrated LNG was $11.2 billion in 2022, double the $5.6 billion contribution in 2021, as the integrated LNG portfolio, in particular its regasification capacity in Europe, was well-positioned to capture the benefit of the favorable pricing environment.
Cash flow from Integrated LNG was $9.8 billion in 2022, up nearly 80% from the $5.5 billion contribution in 2021, for the same reason.
| 4.1.3 | Integrated Power | ||||||
|---|---|---|---|---|---|---|---|
| **** | **** | **** | 4Q22 | **** | **** | **** | 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Integrated Power | 2022 | 2021 | vs |
| **** | **** | **** | 4Q21 | **** | **** | **** | 2021 |
| 69.0 | 67.8 | 43.0 | +61% | Portfolio<br> of renewable power generation gross capacity (GW) ^(1),(2),(3)^ | 69.0 | 43.0 | +61% |
| 16.8 | 16.0 | 10.3 | +64% | o/w<br> installed capacity | 16.8 | 10.3 | +64% |
| 6.1 | 5.4 | 6.5 | -6% | o/w<br> capacity in construction | 6.1 | 6.5 | -6% |
| 46.0 | 46.4 | 26.2 | +76% | o/w<br> capacity in development | 46.0 | 26.2 | +76% |
| 33.4 | 33.9 | 28.0 | +19% | Gross<br> renewables capacity with PPA (GW) ^(1),(2),(3)^ | 33.4 | 28.0 | +19% |
| 45.5 | 45.2 | 31.7 | +43% | Portfolio<br> of renewable power generation net capacity (GW) ^(3)^ | 45.5 | 31.7 | +43% |
| 7.7 | 7.4 | 5.1 | +50% | o/w<br> installed capacity | 7.7 | 5.1 | +50% |
| 4.1 | 3.5 | 4.6 | -10% | o/w<br> capacity in construction | 4.1 | 4.6 | -10% |
| 33.6 | 34.2 | 22.0 | +53% | o/w<br> capacity in development | 33.6 | 22.0 | +53% |
| 9.4 | 8.5 | 6.7 | +42% | Net<br> power production (TWh) ^(4)^ | 33.2 | 21.2 | +57% |
| 3.3 | 2.4 | 1.9 | +74% | incl.<br> power production from renewables | 10.4 | 6.8 | +53% |
| 6.1 | 6.3 | 6.1 | +1% | Clients<br> power - BtB and BtC (Million) ^(3)^ | 6.1 | 6.1 | +1% |
| 2.7 | 2.8 | 2.7 | +1% | Clients<br> gas - BtB and BtC (Million) ^(3)^ | 2.7 | 2.7 | +1% |
| 14.6 | 12.1 | 16.1 | -10% | Sales<br> power - BtB and BtC (TWh) | 55.3 | 56.6 | -2% |
| 28.1 | 14.2 | 31.2 | -10% | Sales<br> gas - BtB and BtC (TWh) | 96.3 | 101.2 | -5% |
| 767 | 460 | 447 | +72% | Proportional<br> adjusted EBITDA Integrated Power (M$) ^(5)^ | 1,864 | 1,393 | +34% |
| 223 | 120 | 84 | x2.7 | incl.<br> from renewables business | 565 | 418 | +35% |
| ^(1)^ | Includes<br> 20% of Adani Green Energy Ltd’s gross capacity effective first quarter 2021. | ||||||
| --- | --- | ||||||
| ^(2)^ | Includes<br> 50% of Clearway Energy Group’s gross capacity effective third quarter 2022. | ||||||
| ^(3)^ | End<br> of period data. | ||||||
| ^(4)^ | Solar,<br> wind, hydroelectric and combined-cycle gas turbine (CCGT) plants. | ||||||
| ^(5)^ | TotalEnergies<br> share (% interest) of EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization)<br> in Integrated Power affiliates (Electricity & Renewables until fourth quarter 2022),<br> regardless of consolidation method. |
Gross installed renewable electricity generation capacity reached 16.8 GW at year-end 2022, up 6.5 GW year-on-year, including nearly 4 GW from the acquisition of 50% of Clearway Energy Group in the United States and 0.8 GW from the start-up of the Al Kharsaah photovoltaic project in Qatar.
Net electricity generation stood at 9.4 TWh in the quarter and 33.2 TWh in 2022, up 57% year-on-year thanks to higher utilization rates of flexible power plants (CCGT) as well as a 53% increase in generation from renewable sources.
Adjusted net operating income of Integrated Power was $1.0 billion in 2022, up nearly 60% from the $0.6 billion contribution in 2021, driven by growth in power generation.
Cash flow from Integrated Power was $1.0 billion in 2022, up nearly 50% from the $0.7 billion contribution in 2021, for the same reason.
7
4.2 Exploration & Production
| 4.2.1 | Production | ||||||
|---|---|---|---|---|---|---|---|
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Hydrocarbon production | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 2,309 | 2,251 | 2,290 | +1% | EP<br> (kboe/d) | 2,296 | 2,290 | - |
| 1,512 | 1,454 | 1,441 | +5% | Liquids<br> (kb/d) | 1,466 | 1,437 | +2% |
| 4,261 | 4,300 | 4,631 | -8% | Gas<br> (Mcf/d) | 4,492 | 4,662 | -4% |
| 4.2.2 | Results | ||||||
| --- | --- | ||||||
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars, except effective tax rate | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 3,528 | 4,217 | 3,525 | - | Adjusted<br> net operating income* | 17,479 | 10,439 | +67% |
| 316 | 377 | 366 | -14% | including<br> adjusted income from equity affiliates | 1,335 | 1,230 | +9% |
| 54.4% | 55.4% | 49.7% | - | Effective<br> tax rate** | 50.8% | 45.2% | - |
| 2,219 | 1,989 | 2,196 | +1% | Organic<br> investments | 7,507 | 6,690 | +12% |
| 105 | (126) | (162) | ns | Net<br> acquisitions | 2,520 | (167) | ns |
| 2,324 | 1,863 | 2,034 | +14% | Net<br> investments | 10,027 | 6,523 | +54% |
| 4,988 | 6,406 | 5,688 | -12% | Operating<br> cash flow before working capital changes *** | 26,080 | 18,717 | +39% |
| 4,035 | 9,083 | 8,624 | -53% | Cash<br> flow from operations *** | 27,654 | 22,009 | +26% |
| * | Details<br> on adjustment items are shown in the business segment information annex to financial statements. | ||||||
| --- | --- | ||||||
| ** | Tax<br> on adjusted net operating income / (adjusted net operating income - income from equity affiliates<br> - dividends received from investments - impairment of goodwill + tax on adjusted net operating<br> income). | ||||||
| --- | --- | ||||||
| *** | Excluding<br> financial charges, except those related to leases. | ||||||
| --- | --- |
Exploration & Production adjusted net operating income was:
| · | $3,528<br> million in the fourth quarter 2022: |
|---|---|
| o | stable<br> year-on-year, thanks to the rise in oil prices, and despite the increase in taxes, particularly<br> in the United Kingdom, |
| --- | --- |
| o | down<br> 16% in the quarter, due to lower oil and gas prices, |
| --- | --- |
| · | $<br> 17,479 million in 2022, up 67% year-on-year, thanks to higher oil and gas prices. |
| --- | --- |
Operating cash flow before working capital changes was as follows:
| · | $4,988<br> million in the fourth quarter 2022: |
|---|---|
| o | down<br> 12% year-on-year, due to higher taxes, particularly in the United Kingdom, and despite rising<br> oil prices, |
| --- | --- |
| o | down<br> 22% in the quarter, due to lower oil and gas prices, and despite higher production, |
| --- | --- |
| · | $26,080<br> million in 2022, up 39% year-on-year, thanks to higher oil and gas prices. |
| --- | --- |
The impact of Energy Profit Levy (EPL) in the United Kingdom on current income was $0.4 billion in the fourth quarter, and $1.0 billion in 2022. The negative impact of EPL on deferred taxes was treated as a non-recurring item, amounting to $0.6 billion for the full-year 2022 and $0.3 billion in the fourth quarter.
8
| 4.3 | Downstream (Refining & Chemicals and Marketing & Services) | ||||||
|---|---|---|---|---|---|---|---|
| 4.3.1 | Results | ||||||
| --- | --- | ||||||
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 1,821 | 2,413 | 1,032 | +76% | Adjusted<br> net operating income* | 8,852 | 3,527 | x2.5 |
| 1,023 | 453 | 1,267 | -19% | Organic<br> investments | 2,354 | 2,576 | -9% |
| (28) | (6) | (281) | ns | Net<br> acquisitions | (159) | (368) | ns |
| 995 | 447 | 986 | +1% | Net<br> investments | 2,195 | 2,208 | -1% |
| 1,681 | 2,944 | 1,559 | +8% | Operating<br> cash flow before working capital changes ** | 10,069 | 5,502 | +83% |
| 939 | 4,737 | 2,832 | -67% | Cash<br> flow from operations ** | 11,787 | 8,806 | +34% |
| * | Detail<br> of adjustment items shown in the business segment information annex to financial statements. | ||||||
| --- | --- | ||||||
| ** | Excluding<br> financial charges, except those related to leases. | ||||||
| --- | --- | ||||||
| 4.4 | Refining & Chemicals | ||||||
| --- | --- | ||||||
| 4.4.1 | Refinery and petrochemicals<br> throughput and utilization rates | ||||||
| --- | --- | ||||||
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Refinery throughput and utilization rate* | 2022 | 2021 | vs |
| **** | **** | **** | 4Q21 | **** | **** | **** | 2021 |
| 1,389 | 1,599 | 1,279 | +9% | Total<br> refinery throughput (kb/d) | 1,472 | 1,180 | +25% |
| 312 | 431 | 223 | +40% | France | 348 | 190 | +83% |
| 580 | 656 | 612 | -5% | Rest<br> of Europe | 623 | 568 | +10% |
| 497 | 512 | 444 | +12% | Rest<br> of world | 501 | 423 | +18% |
| 77% | 88% | 73% | - | Utlization<br> rate based on crude only** | 82% | 64% | - |
| * | Includes<br> refineries in Africa reported in the Marketing & Services segment. | ||||||
| --- | --- | ||||||
| ** | Based<br> on distillation capacity at the beginning of the year, excluding Grandpuits (shut down first<br> quarter 2021) from 2021 and Lindsey refinery (divested) from second quarter 2021. | ||||||
| --- | --- | ||||||
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Petrochemicals production and utilization rate | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 1,095 | 1,299 | 1,460 | -25% | Monomers*<br> (kt) | 5,005 | 5,775 | -13% |
| 917 | 1,171 | 1,231 | -26% | Polymers (kt) | 4,549 | 4,938 | -8% |
| 66% | 80% | 90% | - | Steamcracker<br> utilization rate** | 76% | 90% | - |
| * | Olefins. | ||||||
| --- | --- | ||||||
| ** | Based<br> on olefins production from steam crackers and their treatment capacity at the start of the<br> year. |
Refinery throughput was:
| · | down<br> 13% over the quarter due to the impact of strikes on French facilities and a planned shutdown<br> at the Antwerp platform in Belgium, |
|---|---|
| · | up<br> 9% year-on-year in the fourth quarter 2022, due to the recovery in demand, particularly in<br> Europe and the United States, and the restart of the Donges refinery in France in the second<br> quarter of 2022, partially offset by the items above, |
| · | up<br> 25% in 2022, due to the increase in the utilization rate of refineries. |
| --- | --- |
Petrochemicals production was:
| · | down<br> 25% year-on-year in the fourth quarter of 2022 for monomers and 26% for polymers, due to<br> the impact of strikes on French facilities and an unplanned shutdown on the BTP platform<br> in the United States, |
|---|---|
| · | in<br> 2022 compared to 2021, down 13% for monomers and 8% for polymers, after the very strong post-Covid<br> increase observed in 2021. |
9
| 4.4.2 | Results | ||||||
|---|---|---|---|---|---|---|---|
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 1,487 | 1,935 | 553 | x2.7 | Adjusted<br> net operating income* | 7,302 | 1,909 | x3.8 |
| 585 | 224 | 680 | -14% | Organic<br> investments | 1,319 | 1,502 | -12% |
| (5) | 1 | (156) | ns | Net<br> acquisitions | (38) | (217) | ns |
| 580 | 225 | 524 | +11% | Net<br> investments | 1,281 | 1,285 | - |
| 1,144 | 2,164 | 865 | +32% | Operating<br> cash flow before working capital changes ** | 7,704 | 2,946 | x2.6 |
| 232 | 3,798 | 2,446 | -91% | Cash<br> flow from operations ** | 8,663 | 6,473 | +34% |
| * | Detail<br> of adjustment items shown in the business segment information annex to financial statements. | ||||||
| --- | --- | ||||||
| ** | Excluding<br> financial charges, except those related to leases. | ||||||
| --- | --- |
Adjusted net operating income for the Refining & Chemicals segment was:
| · | $<br> 1,487 million in the fourth quarter 2022: |
|---|---|
| o | down<br> 23% in the quarter, due to the impact of strikes in France, planned maintenance at the Antwerp<br> refinery, and less favorable market conditions in petrochemicals, |
| --- | --- |
| o | 2.7<br> times higher than in the fourth quarter 2021, driven by high refining margins, |
| --- | --- |
| · | $7,302<br> million in 2022, up 3.8 times year-on-year, due to high refining margins in Europe and the<br> United States and higher refinery utilization rates. |
| --- | --- |
Operating cash flow before working capital changes was $1,144 million in the fourth quarter 2022, down 47% on the quarter, mainly due to the impact of $719 million for the European Solidarity Contribution for 2022 refining activities. It is up 32% in the fourth quarter of 2022 year-on-year thanks to higher margins, and, for the full-year 2022 it was $7,704 million, 2.6 times higher than 2021, thanks to higher refining margins and throughput.
10
| 4.5 | Marketing & Services | ||||||
|---|---|---|---|---|---|---|---|
| 4.5.1 | Petroleum product sales | ||||||
| --- | --- | ||||||
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Sales in kb/d* | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 1,450 | 1,495 | 1,553 | -7% | Total<br> Marketing & Services sales | 1,468 | 1,503 | -2% |
| 816 | 873 | 868 | -6% | Europe | 824 | 826 | - |
| 634 | 622 | 684 | -7% | Rest<br> of world | 644 | 677 | -5% |
| * | Excludes<br> trading and bulk refining sales. | ||||||
| --- | --- |
Fourth quarter 2022 sales of petroleum products were down 3% quarter-on-quarter and 7% year-on-year, due to lower demand related to high oil product prices and above-normal temperatures in Europe for heating oil.
Full-year 2022 sales were slightly down 2% year-on-year, as lower sales to professional and industrial customers, particularly in Europe, were partially offset by the recovery of aviation and network activities worldwide.
| 4.5.2 | Results | ||||||
|---|---|---|---|---|---|---|---|
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 334 | 478 | 479 | -30% | Adjusted<br> net operating income* | 1,550 | 1,618 | -4% |
| 438 | 229 | 587 | -25% | Organic<br> investments | 1,035 | 1,074 | -4% |
| (23) | (7) | (125) | ns | Net<br> acquisitions | (121) | (151) | ns |
| 415 | 222 | 462 | -10% | Net<br> investments | 914 | 923 | -1% |
| 537 | 780 | 694 | -23% | Operating<br> cash flow before working capital changes ** | 2,365 | 2,556 | -7% |
| 707 | 939 | 386 | +83% | Cash<br> flow from operations ** | 3,124 | 2,333 | +34% |
| * | Detail<br> of adjustment items shown in the business segment information annex to financial statements. | ||||||
| --- | --- | ||||||
| ** | Excluding<br> financial charges, except those related to leases. | ||||||
| --- | --- |
Adjusted net operating income for the Marketing & Services segment was $1,550 million for the full-year 2022, down 4% year-on-year, mainly impacted by the evolution of the €-$ exchange rate.
Operating cash flow before working capital changes was $2,365 million for 2022, down 7% year-on-year.
11
| 5. | TotalEnergies results |
|---|---|
| 5.1 | Adjusted<br> net operating income from business segments |
| --- | --- |
Segment adjusted net operating income was:
| · | $8,238<br> million in the fourth quarter 2022, compared to $7,316 million a year earlier, due to higher<br> oil and gas prices and refining margins, |
|---|---|
| · | $38,475<br> million in 2022, compared to $20,209 million in 2021, for the same reasons. |
| --- | --- |
| 5.2 | Adjusted<br> net income (TotalEnergies share) |
| --- | --- |
TotalEnergies’ adjusted net income was $7,561 million in the fourth quarter 2022 compared to $6,825 million in the fourth quarter 2021, due to higher oil and gas prices and refining margins.
Adjusted net income excludes the after-tax inventory effect, non-recurring items and the impact of changes in fair value^(17)^.
The net income adjustment items^(18)^ represented -$4,297 million in the fourth quarter 2022, consisting mainly of:
| · | -$3.8<br> billion impairments and exceptional provisions, including -$4.1 billion related to Russia<br> (deconsolidation of Novatek) and a +$0.7 billion impairment reversal in Canada, |
|---|---|
| · | -$0.7<br> billion stock effect, |
| · | -$1.4<br> billion related to the impacts of the European Solidarity Contribution, of the Energy Profits<br> Levy in the United Kingdom on deferred tax, and of the electricity generation infra-marginal<br> income contribution in France, |
| · | +$2.0<br> billion of fair value change effects. |
For the full-year 2022, these items amounted to -$15,671 million, consisting mainly of:
| · | -$15.7<br> billion impairments and exceptional provisions, including -$14.8 billion related to Russia<br> and - $1.0 billion related to the withdrawal from the North Platte project in the United<br> States, |
|---|---|
| · | -$1.7<br> billion related to the impacts of the European Solidarity Contribution, of the Energy Profits<br> Levy in the United Kingdom on deferred tax, and of the electricity generation infra-marginal<br> income contribution in France, |
| · | +$1.4<br> billion capital gain on the partial sale of SunPower shares and the revaluation of the retained<br> and consolidated share using the equity method, |
| · | +$1.1<br> billion of fair value change effects. |
TotalEnergies' effective tax rate was 41.4% in the fourth quarter 2022, compared to 44.1% in the third quarter 2022, mainly due to the decline in the Exploration & Production tax rate linked to lower oil and gas prices.
In 2022, the Company’s effective tax rate was 40.9%, versus 37.9% in 2021, mainly due to the increase in the Exploration & Production tax rate, notably linked to the higher oil and gas prices. Income and production taxes amounted to $33.0 billion, versus $15.9 billion in 2021.
| 5.3 | Adjusted<br> earnings per share |
|---|
Adjusted diluted net earnings per share were:
| · | $2.97<br> in the fourth quarter 2022, calculated based on 2,522 million weighted-average diluted shares,<br> compared to $2.55 a year earlier, |
|---|---|
| · | $13.94<br> for the full-year 2022, calculated based on 2,572 million weighted-average diluted shares,<br> compared to $6.68 for the previous year. |
As of December 31, 2022, the number of diluted shares was 2,502 million.
As part of its shareholder return policy, as announced in October 2022, TotalEnergies repurchased in the fourth quarter 2022 34.7 million shares for $2 billion for their cancellation. In 2022, 128.9 million shares were repurchased for cancellation, representing 4.92% of the share capital, for $7 billion.
| ^(17)^ | These<br> adjustment elements are explained page 22. |
|---|---|
| ^(18)^ | Total<br> adjustment items in net income are detailed page 18 as well as in the annexes to the accounts. |
12
| 5.4 | Acquisitions<br> - asset sales |
|---|
Acquisitions were:
| · | $292<br> million in the fourth quarter 2022, notably for the acquisition of an additional 4.08% of<br> the Waha concessions in Libya, |
|---|---|
| · | $5,872<br> million for the full-year 2022 for the above item as well as payments related to the award<br> of the Atapu and Sépia production sharing contracts in Brazil, the acquisition of<br> an interest in Clearway Energy Group and the bonus related to the New York Bight offshore<br> wind concession in the United States. |
Asset sales were:
| · | $425<br> million in the fourth quarter 2022, notably related to farm-downs in the Integrated Power<br> business and the disposal of interests in Block 14 in Angola, |
|---|---|
| · | $1,421<br> million for the full-year 2022 related to the above items as well as SunPower's disposal<br> of its Enphase shares, the partial disposal of the Landivisiau power generation plant in<br> France, the sale of the interest in the Sarsang field in Iraq, and an additional payment<br> related to the 2020 sale of interests in the CA1 offshore block in Brunei. |
| 5.5 | Net<br> cash flow |
| --- | --- |
TotalEnergies' net cash flow^(19)^was:
| · | $5,333<br> million in the fourth quarter 2022 compared to $5,076 million a year earlier, reflecting<br> the $226 million decrease in operating cash flow before working capital changes and the $483<br> million decrease in net investments to $3,802 million in the fourth quarter 2022, |
|---|---|
| · | $29,426<br> million for 2022 compared with $15,833 million in 2021, reflecting the $16.6 billion increase<br> in operating cash flow before working capital changes and the $3.0 billion increase in net<br> investments to $16,303 million this year. |
Cash flow from operations was $5,618 million in the fourth quarter 2022, compared to operating cash flow before working capital changes of $9,135 million, reflecting the $3.1 billion increase in working capital, mainly due to:
| · | a<br> reduction in tax liabilities linked to the pace of tax payments and the fall in oil and gas<br> prices, notably in Norway and the United Kingdom, partially offset by the European Solidarity<br> Contribution, |
|---|---|
| · | the<br> increase in margin calls and the seasonality of the gas and electricity supply activity, |
| · | the<br> price and volume effect on inventories. |
| 5.6 | Profitability |
| --- | --- |
Return on equity was 32.5% for the full-year 2022.
| January 1, 2022 | October 1, 2021 | January 1, 2021 | |
|---|---|---|---|
| In millions of dollars | December 31, 2022 | September 30, 2022 | December 31, 2021 |
| Adjusted<br> net income | 36,657 | 35,790 | 18,391 |
| Average<br> adjusted shareholders' equity | 112,831 | 113,861 | 108,504 |
| Return on equity (ROE) | 32.5% | 31.4% | 16.9% |
The return on average capital employed was 28.2% for the full-year 2022.
| **** | January 1, 2022 | October 1, 2021 | January 1, 2021 |
|---|---|---|---|
| In millions of dollars | December 31, 2022 | September 30, 2022 | December 31, 2021 |
| Adjusted<br> net operating income | 38,212 | 37,239 | 19,766 |
| Average<br> capital employed | 135,312 | 136,902 | 142,215 |
| ROACE | 28.2% | 27.2% | 13.9% |
| 6. | TotalEnergies SE statutory accounts | ||
| --- | --- |
Net income for TotalEnergies SE, the parent company, was €7,835 million in 2022 compared to €6,868 million in 2021.
^(19)^ Net cash flow = cash flow – net investments (including other transactions with non-controlling interest).
13
| 7. | Annual 2023 Sensitivities* | ||
|---|---|---|---|
| Estimated impact on | Estimated impact on | ||
| --- | --- | --- | --- |
| Change | adjusted | cash flow from | |
| net operating income | operations | ||
| Dollar | +/-<br> 0.1 $ per € | -/+<br> 0.1 B$ | ~0<br> B$ |
| Average<br> liquids price** | +/-<br> 10 $/b | +/-<br> 2.5 B$ | +/-<br> 3.0 B$ |
| European<br> gas price - NBP / TTF | +/-<br> 2 $/Mbtu | +/-<br> 0.4 B$ | +/-<br> 0.4 B$ |
| Variable<br> cost margin, European refining (VCM) | +/-<br> 10 $/t | +/-<br> 0.4 B$ | +/-<br> 0.5 B$ |
* Sensitivities are revised once per year upon publication of the previous year’s fourth quarter results. Sensitivities are estimates based on assumptions about TotalEnergies’ portfolio in 2023. Actual results could vary significantly from estimates based on the application of these sensitivities. The impact of the $-€ sensitivity on adjusted net operating income is essentially attributable to Refining & Chemicals.
** In a 80 $/b Brent environment.
The revised 2023 sensitivities for adjusted net operating income and cash flow take into account, in particular, the Energy Profit Levy in the United Kingdom and the deconsolidation of the stake in PAO Novatek.
14
| 8. | 2023 outlook |
|---|
At the start of 2023, oil prices are moving between $80-90/b in an uncertain environment, where the possible worldwide economic slowdown could be counterbalanced by the recovery of China, global demand being expected to rise in 2023 to more than 100 Mb/d. In this context, OPEC+ countries have shown their willingness to keep prices above $80/b. Refining margins in Europe, particularly for distillates, are expected to remain supported by the effects of the European embargo on Russian petroleum products from February 5, 2023.
The tensions on European gas prices seen in 2022 are expected to continue into 2023, as the limited growth in global LNG production is supposed to meet both higher European LNG demand to replace Russian gas received in 2022 and higher Chinese LNG demand.
Since December 31, 2022, the production related to TotalEnergies' participation in Novatek, of 0.3 Mboe/d in 2022, is no longer consolidated. Excluding Novatek, TotalEnergies expects its hydrocarbon production to increase by approximately 2% to 2.5 Mboe/d in 2023, driven by three main start-ups planned for the year: Block 10 in Oman, Mero 2 in Brazil, and Absheron in Azerbaijan.
Continuing its growth momentum in LNG, TotalEnergies is strengthening its unique position in Europe in 2023 with the commissioning of two floating regasification terminals, the first of which, located in Lubmin, Germany, is already operational.
Having generated $1 billion in cash flow in 2022, the Integrated Power business will continue to grow in 2023 with power generation expected to reach more than 40 TWh, a 30% increase year-on-year, benefiting from the full integration of Total Eren, leading to a comparable rise in cash flow.
The implementation of an energy savings program will strengthen Downstream’s competitiveness, allowing it to benefit from a favorable European refining environment.
In 2023, TotalEnergies expects net investments of $16-18 billion, including $5 billion dedicated to low-carbon energies.
Supported by the strength of the Company's balance sheet and its cash generation potential, the Board of Directors confirmed a shareholder return policy for 2023 targeting a cash pay-out of between 35% and 40% as well as the following cash flow allocation priorities:
| · | a<br> sustainable ordinary dividend through cycles, that was not cut during the Covid crisis, and<br> whose increase is supported by underlying cash flow growth, |
|---|---|
| · | investments<br> to support of a strategy balanced between the various energies, |
| · | maintaining<br> a strong balance sheet with a target rating at an "AA" level, |
| · | buybacks<br> to share surplus cash flow generated at high prices and possibly a special dividend in the<br> event of very high prices. |
For 2023, this shareholder return policy will combine a 7.2% increase to 0.74 €/share in interim dividends and share buybacks of $2 billion planned for the first quarter.
TotalEnergies confirms its project to spin-off its affiliate, TotalEnergies EP Canada, by listing it on the Toronto stock exchange. TotalEnergies intends to retain a 30% stake in the listed entity, and to distribute 70% of the shares to TotalEnergies SE’s shareholders, through a special dividend in kind. This transaction would be subject to the approvals that will be taken by the General Assembly of TotalEnergies on May 26^th^, 2023.
* * * *
To listen to the conference call with CEO Patrick Pouyanné and CFO Jean-Pierre Sbraire today at 11:00 (Paris time), please log on to totalenergies.com or dial +44 (0) 121 281 8003 or +1 (718) 705-8794. The conference replay will be available on the Company's website totalenergies.com after the event.
* * * *
TotalEnergies contacts
| Media<br> Relations: | +33<br> (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR |
|---|---|
| Investor Relations: | +33 (0)1 47<br> 44 46 46 l [email protected] |
15
| 9. | Results from Russian assets | ||
|---|---|---|---|
| Russian Upstream Assets (M$) | 4Q22 | 3Q22 | 2022 |
| --- | --- | --- | --- |
| Net<br> income (TotalEnergies share) | (3,466) | (1,907) | (11,578) |
| Cash<br> flow from operations | 732 | 349 | 1,480 |
Capital employed by TotalEnergies in Russia as of December 31, 2022 was $2,874 million after taking into account in the fourth quarter 2022 a $4.1 billion impairment related to the decision to no longer equity account for the 19.4% stake in Novatek.
| 10. | Operating information by segment | ||||||
|---|---|---|---|---|---|---|---|
| 10.1 | Company’s<br> production (Exploration & Production + iGRP) | ||||||
| --- | --- | ||||||
| 4Q22 | 3Q22 | 4Q21 | 4Q22<br><br> <br>vs<br><br> <br>4Q21 | Combined liquids and gas<br><br> <br>production by region (kboe/d) | 2022 | 2021 | 2022<br><br> <br>vs<br><br> <br>2021 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 994 | 920 | 1,063 | -7% | Europe<br> and Central Asia | 982 | 1,022 | -4% |
| 477 | 463 | 508 | -6% | Africa | 474 | 532 | -11% |
| 703 | 692 | 682 | +3% | Middle<br> East and North Africa | 687 | 667 | +3% |
| 442 | 449 | 363 | +22% | Americas | 425 | 372 | +14% |
| 196 | 145 | 235 | -17% | Asia-Pacific | 198 | 226 | -12% |
| 2,812 | 2,669 | 2,852 | -1% | Total<br> production | 2,765 | 2,819 | -2% |
| 670 | 656 | 739 | -9% | includes<br> equity affiliates | 682 | 732 | -7% |
| 4Q22 | 3Q22 | 4Q21 | 4Q22<br><br> <br>vs<br><br> <br>4Q21 | Liquids production by region (kb/d) | 2022 | 2021 | 2022<br><br> <br>vs<br><br> <br>2021 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 348 | 302 | 378 | -8% | Europe<br> and Central Asia | 334 | 366 | -9% |
| 358 | 352 | 379 | -5% | Africa | 358 | 398 | -10% |
| 565 | 557 | 534 | +6% | Middle<br> East and North Africa | 552 | 516 | +7% |
| 259 | 260 | 174 | +48% | Americas | 238 | 179 | +33% |
| 40 | 23 | 45 | -10% | Asia-Pacific | 37 | 40 | -8% |
| 1,570 | 1,494 | 1,509 | +4% | Total<br> production | 1,519 | 1,500 | +1% |
| 199 | 202 | 205 | -3% | includes<br> equity affiliates | 203 | 206 | -2% |
| 4Q22 | 3Q22 | 4Q21 | 4Q22<br><br> <br>vs<br><br> <br>4Q21 | Gas production by region (Mcf/d) | 2022 | 2021 | 2022<br><br> <br>vs<br><br> <br>2021 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 3,460 | 3,322 | 3,683 | -6% | Europe<br> and Central Asia | 3,476 | 3,524 | -1% |
| 592 | 559 | 664 | -11% | Africa | 584 | 681 | -14% |
| 745 | 740 | 825 | -10% | Middle<br> East and North Africa | 739 | 838 | -12% |
| 1,030 | 1,061 | 1,064 | -3% | Americas | 1,049 | 1,086 | -3% |
| 854 | 685 | 1,092 | -22% | Asia-Pacific | 911 | 1,074 | -15% |
| 6,681 | 6,367 | 7,328 | -9% | Total<br> production | 6,759 | 7,203 | -6% |
| 2,535 | 2,444 | 2,889 | -12% | includes<br> equity affiliates | 2,581 | 2,842 | -9% |
16
10.2 Downstream (Refining & Chemicals and Marketing & Services)
| 4Q22 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| 4Q22 | 3Q22 | 4Q21 | vs | Petroleum<br> product sales by region (kb/d) | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 1,665 | 1,816 | 1,668 | - | Europe | 1,732 | 1,582 | +10% |
| 743 | 690 | 780 | -5% | Africa | 732 | 701 | +4% |
| 740 | 907 | 817 | -9% | Americas | 836 | 800 | +5% |
| 558 | 569 | 526 | +6% | Rest<br> of world | 591 | 500 | +18% |
| 3,706 | 3,982 | 3,791 | -2% | Total<br> consolidated sales | 3,891 | 3,581 | +9% |
| 388 | 438 | 437 | -11% | Includes<br> bulk sales | 411 | 383 | +7% |
| 1,868 | 2,049 | 1,801 | +4% | Includes<br> trading | 2,012 | 1,696 | +19% |
| 4Q22 | 2022 | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- |
| 4Q22 | 3Q22 | 4Q21 | vs | Petrochemicals<br> production* (kt) | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 835 | 1,078 | 1,249 | -33% | Europe | 4,196 | 5,069 | -17% |
| 477 | 670 | 689 | -31% | Americas | 2,387 | 2,629 | -9% |
| 700 | 722 | 753 | -7% | Middle<br> East and Asia | 2,971 | 3,014 | -1% |
* Olefins, polymers.
10.3 Renewables
| **** | 4Q22 | 3Q22 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Installed power generation gross capacity (GW) ^(1),(2)^ | Solar | Onshore<br> <br> Wind | Offshore<br> <br> Wind | Other | Total | Solar | Onshore<br> <br> Wind | Offshore<br><br> Wind | Other | Total |
| France | 0.8 | 0.6 | 0.0 | 0.1 | 1.5 | 0.7 | 0.6 | 0.0 | 0.1 | 1.4 |
| Rest<br> of Europe | 0.2 | 1.1 | 0.3 | 0.0 | 1.6 | 0.2 | 1.1 | 0.2 | 0.0 | 1.4 |
| Africa | 0.1 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.1 |
| Middle<br> East | 1.2 | 0.0 | 0.0 | 0.0 | 1.2 | 0.7 | 0.0 | 0.0 | 0.0 | 0.7 |
| North<br> America | 2.9 | 2.1 | 0.0 | 0.1 | 5.1 | 2.9 | 2.1 | 0.0 | 0.0 | 5.0 |
| South<br> America | 0.4 | 0.3 | 0.0 | 0.0 | 0.7 | 0.4 | 0.3 | 0.0 | 0.0 | 0.7 |
| India | 4.9 | 0.4 | 0.0 | 0.0 | 5.3 | 4.9 | 0.3 | 0.0 | 0.0 | 5.3 |
| Asia-Pacific | 1.2 | 0.0 | 0.1 | 0.0 | 1.4 | 1.2 | 0.0 | 0.1 | 0.0 | 1.3 |
| Total | 11.7 | 4.5 | 0.4 | 0.2 | 16.8 | 11.1 | 4.4 | 0.3 | 0.2 | 16.0 |
| **** | 4Q22 | 3Q22 | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Power generation gross capacity from renewables in construction (GW) ^(1),(2)^ | Solar | Onshore<br> <br> Wind | Offshore<br> <br> Wind | Other | Total | Solar | Onshore<br> <br> Wind | Offshore<br><br> Wind | Other | Total |
| France | 0.2 | 0.1 | 0.0 | 0.1 | 0.4 | 0.2 | 0.1 | 0.0 | 0.1 | 0.5 |
| Rest<br> of Europe | 0.1 | 0.0 | 0.9 | 0.0 | 1.0 | 0.1 | 0.0 | 1.0 | 0.0 | 1.1 |
| Africa | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Middle<br> East | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.4 | 0.0 | 0.0 | 0.0 | 0.4 |
| North<br> America | 2.6 | 0.0 | 0.0 | 0.5 | 3.1 | 1.6 | 0.0 | 0.0 | 0.2 | 1.7 |
| South<br> America | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| India | 0.8 | 0.2 | 0.0 | 0.0 | 1.0 | 0.8 | 0.2 | 0.0 | 0.0 | 1.0 |
| Asia-Pacific | 0.1 | 0.0 | 0.5 | 0.0 | 0.6 | 0.1 | 0.0 | 0.5 | 0.0 | 0.7 |
| Total | 3.8 | 0.3 | 1.4 | 0.6 | 6.1 | 3.3 | 0.3 | 1.5 | 0.2 | 5.4 |
| **** | 4Q22 | 3Q22 | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Power generation gross capacity from renewables in development (GW) ^(1),(2)^ | Solar | Onshore<br> <br> Wind | Offshore<br> <br> Wind | Other | Total | Solar | Onshore<br> <br> Wind | Offshore<br><br> Wind | Other | Total |
| France | 1.6 | 0.4 | 0.0 | 0.0 | 2.0 | 2.1 | 0.4 | 0.0 | 0.0 | 2.5 |
| Rest<br> of Europe | 3.8 | 0.4 | 4.4 | 0.1 | 8.6 | 4.8 | 0.3 | 4.4 | 0.1 | 9.6 |
| Africa | 0.6 | 0.1 | 0.0 | 0.1 | 0.9 | 0.6 | 0.1 | 0.0 | 0.1 | 0.9 |
| Middle<br> East | 0.6 | 0.0 | 0.0 | 0.0 | 0.6 | 0.5 | 0.0 | 0.0 | 0.0 | 0.5 |
| North<br> America | 10.8 | 3.4 | 4.1 | 4.1 | 22.4 | 11.8 | 3.4 | 4.0 | 4.5 | 23.7 |
| South<br> America | 0.8 | 1.1 | 0.0 | 0.2 | 2.0 | 0.7 | 0.5 | 0.0 | 0.2 | 1.4 |
| India | 4.4 | 0.1 | 0.0 | 0.0 | 4.5 | 3.9 | 0.1 | 0.0 | 0.0 | 4.0 |
| Asia-Pacific | 2.2 | 0.1 | 2.3 | 0.4 | 5.0 | 2.0 | 0.3 | 1.2 | 0.3 | 3.7 |
| Total | 24.8 | 5.5 | 10.8 | 4.9 | 46.0 | 26.5 | 5.1 | 9.6 | 5.3 | 46.4 |
| ^(1)^ | Includes<br> 20% of the gross capacities of Adani Green Energy Limited and 50% of Clearway Energy Group. | |||||||||
| --- | --- | |||||||||
| ^(2)^ | End-of-period<br> data. | |||||||||
| --- | --- |
17
11. Adjustment items to net income (TotalEnergiesshare)
| 4Q22 | 3Q22 | 4Q21 | In millions of dollars | 2022 | 2021 |
|---|---|---|---|---|---|
| (5,585) | (2,186) | (1,074) | Special<br> items affecting net income (TotalEnergies share) | (17,310) | (3,329) |
| - | 1,391 | (170) | Gain<br> (loss) on asset sales | 1,391 | (1,726) |
| (14) | (17) | 6 | Restructuring<br> charges | (42) | (308) |
| (3,845) | (3,118) | (670) | Impairments | (15,743) | (910) |
| (1,726) | (442) | (240) | Other | (2,916) | (385) |
| (705) | (827) | 111 | After-tax<br> inventory effect : FIFO vs. replacement cost | 501 | 1,495 |
| 1,993 | (224) | (25) | Effect<br> of changes in fair value | 1,138 | (194) |
| (4,297) | (3,237) | (988) | Total<br> adjustments affecting net income | (15,671) | (2,028) |
18
12. Reconciliation of adjusted EBITDA with consolidatedfinancial statements
12.1 Reconciliation of net income (TotalEnergies share) to adjusted EBITDA
| **** | **** | **** | 4Q22 | **** | **** | **** | 2022 |
|---|---|---|---|---|---|---|---|
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars | 2022 | 2021 | vs |
| **** | **** | **** | 4Q21 | **** | **** | **** | 2021 |
| 3,264 | 6,626 | 5,837 | -44% | Net income - TotalEnergies share | 20,526 | 16,032 | +28% |
| 4,297 | 3,237 | 988 | x4.3 | Less:<br> adjustment items to net income (TotalEnergies share) | 15,671 | 2,028 | x7.7 |
| 7,561 | 9,863 | 6,825 | +11% | Adjusted net income - TotalEnergies share | 36,197 | 18,060 | x2 |
| Adjusted items | |||||||
| 210 | 85 | 79 | x2.7 | Add:<br> non-controlling interests | 460 | 331 | +39% |
| 4,530 | 6,037 | 3,606 | +26% | Add:<br> income taxes | 20,565 | 9,211 | x2.2 |
| 3,204 | 2,926 | 3,278 | -2% | Add:<br> depreciation, depletion and impairment of tangible assets and mineral interests | 12,316 | 12,735 | -3% |
| 111 | 95 | 119 | -7% | Add:<br> amortization and impairment of intangible assets | 400 | 401 | - |
| 719 | 633 | 483 | +49% | Add:<br> financial interest on debt | 2,386 | 1,904 | +25% |
| (338) | (219) | (105) | ns | Less:<br> financial income and expense from cash & cash equivalents | (746) | (340) | ns |
| 15,997 | 19,420 | 14,285 | +12% | Adjusted EBITDA | 71,578 | 42,302 | +69% |
12.2 Reconciliation of revenues from sales to adjusted EBITDA and net income (TotalEnergies share)
| **** | **** | **** | 4Q22 | **** | **** | **** | 2022 |
|---|---|---|---|---|---|---|---|
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars | 2022 | 2021 | vs |
| **** | **** | **** | 4Q21 | **** | **** | **** | 2021 |
| Adjusted items | |||||||
| 63,884 | 64,924 | 55,298 | +16% | Revenues<br> from sales | 263,206 | 184,678 | +43% |
| (42,755) | (41,509) | (36,189) | ns | Purchases,<br> net of inventory variation | (171,049) | (120,160) | ns |
| (7,027) | (6,689) | (6,630) | ns | Other<br> operating expenses | (28,745) | (26,754) | ns |
| (250) | (71) | (215) | ns | Exploration<br> costs | (574) | (632) | ns |
| 636 | 163 | 551 | +15% | Other<br> income | 1,349 | 1,300 | +4% |
| (480) | (58) | (374) | ns | Other<br> expense, excluding amortization and impairment of intangible assets | (1,142) | (543) | ns |
| 266 | 196 | 195 | +36% | Other<br> financial income | 812 | 762 | +7% |
| (150) | (112) | (138) | ns | Other<br> financial expense | (533) | (539) | ns |
| 1,873 | 2,576 | 1,787 | +5% | Net<br> income (loss) from equity affiliates | 8,254 | 4,190 | +97% |
| 15,997 | 19,420 | 14,285 | +12% | Adjusted EBITDA | 71,578 | 42,302 | +69% |
| Adjusted items | |||||||
| (3,204) | (2,926) | (3,278) | ns | Less:<br> depreciation, depletion and impairment of tangible assets and mineral interests | (12,316) | (12,735) | ns |
| (111) | (95) | (119) | ns | Less:<br> amortization of intangible assets | (400) | (401) | ns |
| (719) | (633) | (483) | ns | Less:<br> financial interest on debt | (2,386) | (1,904) | ns |
| 338 | 219 | 105 | x3.2 | Add:<br> financial income and expense from cash & cash equivalents | 746 | 340 | x2.2 |
| (4,530) | (6,037) | (3,606) | ns | Less:<br> income taxes | (20,565) | (9,211) | ns |
| (210) | (85) | (79) | ns | Less:<br> non-controlling interests | (460) | (331) | ns |
| (4,297) | (3,237) | (988) | ns | Add:<br> adjustment - TotalEnergies share | (15,671) | (2,028) | ns |
| 3,264 | 6,626 | 5,837 | -44% | Net income - TotalEnergies share | 20,526 | 16,032 | +28% |
19
13. Investments - Divestments
| **** | **** | **** | 4Q22 | **** | **** | **** | 2022 |
|---|---|---|---|---|---|---|---|
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars | 2022 | 2021 | vs |
| **** | **** | **** | 4Q21 | **** | **** | **** | 2021 |
| 3,935 | 3,116 | 4,681 | -16% | Organic<br> investments ( a ) | 11,852 | 12,675 | -6% |
| 287 | 169 | 182 | +58% | Capitalized<br> exploration | 669 | 841 | -21% |
| 210 | 233 | 348 | -40% | Increase<br> in non-current loans | 954 | 1,231 | -23% |
| (259) | (214) | (234) | ns | Repayment<br> of non-current loans, excluding organic loan repayment from equity affiliates | (1,082) | (531) | ns |
| (124) | 4 | (52) | ns | Change<br> in debt from renewable projects (TotalEnergies share) | (310) | (222) | ns |
| 292 | 1,716 | 288 | +1% | Acquisitions<br> ( b ) | 5,872 | 3,284 | +79% |
| 425 | 129 | 684 | -38% | Asset<br> sales ( c ) | 1,421 | 2,652 | -46% |
| 109 | (4) | 34 | x3.2 | Change<br> in debt from renewable projects (partner share) | 279 | 134 | x2.1 |
| (133) | 1,587 | (396) | ns | Net<br> acquisitions | 4,451 | 632 | x7 |
| 3,802 | 4,703 | 4,285 | -11% | Net investments ( a + b - c ) | 16,303 | 13,307 | +23% |
| 50 | - | - | ns | Other<br> transactions with non-controlling interests ( d ) | 50 | 757 | -93% |
| (335) | (570) | (398) | ns | Organic<br> loan repayment from equity affiliates ( e ) | (1,630) | (626) | ns |
| 233 | (8) | 86 | x2.7 | Change<br> in debt from renewable projects financing * ( f ) | 589 | 356 | +65% |
| 61 | 43 | 34 | +79% | Capex<br> linked to capitalized leasing contracts ( g ) | 177 | 111 | +59% |
| 8 | 7 | 27 | -70% | Expenditures<br> related to carbon credits ( h ) | 19 | 27 | -30% |
| 3,681 | 4,075 | 3,912 | -6% | Cash flow used in investing activities ( a + b - c + d + e + f - g - h ) | 15,116 | 13,656 | +11% |
* Change in debt from renewable projects (TotalEnergies share and partner share).
14. Cash flow
| 4Q22 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| 4Q22 | 3Q22 | 4Q21 | vs | In millions of dollars | 2022 | 2021 | vs |
| 4Q21 | 2021 | ||||||
| 9,361 | 12,040 | 9,759 | -4% | Operating cash flow before working capital changes w/o financial charges (DACF) | 47,025 | 30,660 | +53% |
| (226) | (304) | (398) | ns | Financial<br> charges | (1,296) | (1,520) | ns |
| 9,135 | 11,736 | 9,361 | -2% | Operating cash flow before working capital changes ( a ) * | 45,729 | 29,140 | +57% |
| (2,247) | 7,692 | 2,591 | ns | (Increase)<br> decrease in working capital ** | 2,831 | 188 | x15.1 |
| (895) | (1,010) | 85 | ns | Inventory<br> effect | 501 | 1,796 | -72% |
| (40) | 0 | (19) | ns | Capital<br> gain from renewable project sales | (64) | (89) | ns |
| (335) | (570) | (398) | ns | Organic<br> loan repayments from equity affiliates | (1,630) | (626) | ns |
| 5,618 | 17,848 | 11,621 | -52% | Cash flow from operations | 47,367 | 30,410 | +56% |
| 3,935 | 3,116 | 4,681 | -16% | Organic<br> investments ( b ) | 11,852 | 12,675 | -6% |
| 5,200 | 8,620 | 4,680 | +11% | Free cash flow after organic investments, w/o net asset sales ( a - b ) | 33,877 | 16,465 | x2.1 |
| 3,802 | 4,703 | 4,285 | -11% | Net<br> investments ( c ) | 16,303 | 13,307 | +23% |
| 5,333 | 7,033 | 5,076 | +5% | Net cash flow ( a - c ) | 29,426 | 15,833 | +86% |
| * | Operating<br> cash flow before working capital changes, is defined as cash flow from operating activities<br> before changes in working capital at replacement cost, excluding the mark-to-market effect<br> of iGRP’s contracts and including capital gain from renewable projects sale. | ||||||
| --- | --- |
Historical data have been restated to cancel the impact of fair valuation of iGRP sector’s contracts.
| ** | Changes<br> in working capital are presented excluding the mark-to-market effect of iGRP’s contracts. |
|---|
20
15. Gearing ratio
| In millions of dollars | 12/31/2022 | 09/30/2022 | 12/31/2021 |
|---|---|---|---|
| Current<br> borrowings ^(1)^ | 14,065 | 15,556 | 13,645 |
| Other<br> current financial liabilities | 488 | 861 | 372 |
| Current<br> financial assets ^(1),(2)^ | (8,556) | (11,532) | (12,183) |
| Net<br> financial assets classified as held for sale | (38) | (36) | (4) |
| Non-current<br> financial debt ^(1)^ | 36,987 | 37,506 | 41,868 |
| Non-current<br> financial assets ^(1)^ | (1,303) | (1,406) | (1,557) |
| Cash<br> and cash equivalents | (33,026) | (35,941) | (21,342) |
| Net debt (a) | 8,617 | 5,008 | 20,799 |
| Shareholders’<br> equity - TotalEnergies share | 111,724 | 117,821 | 111,736 |
| Non-controlling<br> interests | 2,846 | 2,851 | 3,263 |
| Shareholders' equity (b) | 114,570 | 120,672 | 114,999 |
| Net-debt-to-capital ratio = a / (a+b) | 7.0% | 4.0% | 15.3% |
| Leases (c) | 8,096 | 7,669 | 8,055 |
| Net-debt-to-capital ratio including leases (a+c) / (a+b+c) | 12.7% | 9.5% | 20.1% |
| ^(1)^ | Excludes<br> leases receivables and leases debts. | ||
| --- | --- | ||
| ^(2)^ | Including<br> initial margins held as part of the Company's activities on organized markets. | ||
| --- | --- |
16. Return on average capital employed
Full year 2022
| Integrated Gas, | |||||
|---|---|---|---|---|---|
| In millions of dollars | Renewables & | Exploration & | Refining & | Marketing & | Company |
| Power | Production | Chemicals | Services | ||
| Adjusted<br> net operating income | 12,144 | 17,479 | 7,302 | 1,550 | 38,212 |
| Capital<br> employed at 12/31/2021* | 55,978 | 71,675 | 8,069 | 8,783 | 141,813, |
| Capital<br> employed at 12/31/2022* | 49,896 | 65,784 | 7,438 | 7,593 | 128,811 |
| ROACE | 22.9% | 25.4% | 94.2% | 18.9% | 28.2% |
Twelve months ended September 30, 2022
| Integrated Gas, | |||||
|---|---|---|---|---|---|
| In millions of dollars | Renewables & | Exploration & | Refining & | Marketing & | Company |
| Power | Production | Chemicals | Services | ||
| Adjusted<br> net operating income | 12,014 | 17,476 | 6,368 | 1,695 | 37,239 |
| Capital<br> employed at 09/30/2021* | 52,401 | 75,499 | 9,156 | 8,281 | 143,383 |
| Capital<br> employed at 09/30/2022* | 54,923 | 65,041 | 5,801 | 7,141 | 130,420 |
| ROACE | 22.4% | 24.9% | 85.2% | 22.2% | 27.2% |
Full year 2021
| Integrated Gas, | |||||
|---|---|---|---|---|---|
| In millions of dollars | Renewables & | Exploration & | Refining & | Marketing & | Company |
| Power | Production | Chemicals | Services | ||
| Adjusted<br> net operating income | 6,243 | 10,439 | 1,909 | 1,618 | 19,766 |
| Capital<br> employed at 12/31/2020* | 45,611 | 78,928 | 11,375 | 8,793 | 142,617 |
| Capital<br> employed at 12/31/2021* | 55,978 | 71,675 | 8,069 | 8,783 | 141,813 |
| ROACE | 12.3% | 13.9% | 19.6% | 18.4% | 13.9% |
* At replacement cost (excluding after-tax inventory effect).
21
Disclaimer:
The terms “TotalEnergies”, “TotalEnergies company” and “Company” in this document are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate and independent legal entities.
This press release presents the results for the fourth quarter 2022 and the full-year 2022 from the consolidated financial statements of TotalEnergies SE as of December 31, 2022 (unaudited). The audit procedures by the Statutory Auditors are underway. The consolidated financial statements (unaudited) are available on the website totalenergies.com. This document does not constitute the annual financial report (rapport financier annuel) within the meaning of article L.451.1.2 of the French monetary and financial code (code monétaire et financier).
This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, notably with respect to the financial condition, results of operations, business activities and industrial strategy of TotalEnergies. This document may also contain statements regarding the perspectives, objectives, areas of improvement and goals of TotalEnergies, including with respect to climate change and carbon neutrality (net zero emissions). An ambition expresses an outcome desired by TotalEnergies, it being specified that the means to be deployed do not depend solely on TotalEnergies. These forward-looking statements may generally be identified by the use of the future or conditional tense or forward-looking words such as “envisions”, “intends”, “anticipates”, “believes”, “considers”, “plans”, “expects”, “thinks”, “targets”, “aims” or similar terminology. Such forward-looking statements included in this document are based on economic data, estimates and assumptions prepared in a given economic, competitive and regulatory environment and considered to be reasonable by TotalEnergies as of the date of this document.
These forward-looking statements are not historical data and should not be interpreted as assurances that the perspectives, objectives or goals announced will be achieved. They may prove to be inaccurate in the future, and may evolve or be modified with a significant difference between the actual results and those initially estimated, due to the uncertainties notably related to the economic, financial, competitive and regulatory environment, or due to the occurrence of risk factors, such as, notably, the price fluctuations in crude oil and natural gas, the evolution of the demand and price of petroleum products, the changes in production results and reserves estimates, the ability to achieve cost reductions and operating efficiencies without unduly disrupting business operations, changes in laws and regulations including those related to the environment and climate, currency fluctuations, as well as economic and political developments, changes in market conditions, loss of market share and changes in consumer preferences, or pandemics such as the COVID-19 pandemic. Additionally, certain financial information is based on estimates particularly in the assessment of the recoverable value of assets and potential impairments of assets relating thereto.
Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. The information on risk factors that could have a significant adverse effect on TotalEnergies’ business, financial condition, including its operating income and cash flow, reputation, outlook or the value of financial instruments issued by TotalEnergies is provided in the most recent version of the Universal Registration Document which is filed by TotalEnergies SE with the French Autorité des Marchés Financiers and the annual report on Form 20-F filed with the United States
Securities and Exchange Commission (“SEC”).
Financial information by business segment is reported in accordance with the internal reporting system and shows internal segment information that is used to manage and measure the performance of TotalEnergies. In addition to IFRS measures, certain alternative performance indicators are presented, such as performance indicators excluding the adjustment items described below (adjusted operating income, adjusted net operating income, adjusted net income), return on equity (ROE), return on average capital employed (ROACE), gearing ratio, operating cash flow before working capital changes, the shareholder rate of return. These indicators are meant to facilitate the analysis of the financial performance of TotalEnergies and the comparison of income between periods. They allow investors to track the measures used internally to manage and measure the performance of TotalEnergies.
These adjustment items include:
(i) 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. However, in certain instances, transactions such as restructuring costs or asset disposals, which are not considered to be representative of the normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to occur again within the coming years.
(ii) Inventory valuation effect
The adjusted results of the Refining & Chemicals and Marketing & Services segments are presented according to the replacement cost method. This method is used to assess the segments’ performance and facilitate the comparability of the segments’ performance with those of TotalEnergies’ principal competitors.
In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the statement of income is, depending on the nature of the inventory, determined using either the month-end price differentials between one period and another or the average prices of the period rather than the historical value. The inventory valuation effect is the difference between the results according to the FIFO (First-In, First-Out) and the replacement cost.
(iii) Effect of changes in fair value
The effect of changes in fair value presented as an adjustment item reflects, for some transactions, differences between internal measures of performance used by TotalEnergies’ management and the accounting for these transactions under IFRS.
IFRS requires that trading inventories be recorded at their fair value using period-end spot prices. In order to best reflect the management of economic exposure through derivative transactions, internal indicators used to measure performance include valuations of trading inventories based on forward prices.
TotalEnergies, in its trading activities, enters into storage contracts, whose future effects are recorded at fair value in TotalEnergies’ internal economic performance. IFRS precludes recognition of this fair value effect.
Furthermore, TotalEnergies enters into derivative instruments to risk manage certain operational contracts or assets. Under IFRS, these derivatives are recorded at fair value while the underlying operational transactions are recorded as they occur. Internal indicators defer the fair value on derivatives to match with the transaction occurrence.
The adjusted results (adjusted operating income, adjusted net operating income, adjusted net income) are defined as replacement cost results, adjusted for special items, excluding the effect of changes in fair value.
Euro amounts presented for the fully adjusted-diluted earnings per share represent dollar amounts converted at the average euro-dollar (€-$) exchange rate for the applicable period and are not the result of financial statements prepared in euros.
Cautionary Note to U.S. Investors – The SEC permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with SEC rules. We may use certain terms in this press release, such as “potential reserves” or “resources”, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in the Form 20-F of TotalEnergies SE, File N° 1-10888, available from us at 2, place Jean Millier – Arche Nord Coupole/Regnault - 92078 Paris-La Défense Cedex, France, or at our website totalenergies.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website sec.gov.
22
Exhibit99.10
| PRESS RELEASE |
|---|
Share capital decreaseby way of treasury shares cancellation
Paris, February 8, 2023 – On February 7, 2023, the Board of Directors, under the conditions set forth at the Extraordinary Shareholders’ Meeting of May 25, 2022, decided to decrease the share capital of TotalEnergies SE by way of cancellation of 128,869,261 treasury shares representing 4,92% of the share capital. These shares were repurchased from February 11 to December 15, 2022.
After this cancellation of shares, the number of shares of TotalEnergies SE is 2,490,262,024, and the number of voting rights that can be exercised at the Shareholders’ Meeting is 2,655,005,180. The total number of voting rights attached to these 2,490,262,024 shares (referred to as ‘theoretical voting rights’) is 2,680,013,644, including the voting rights attached to the 25,008,464 treasury shares held by TotalEnergies SE, with a view to cancelling them and allocating them to share performance plans, and with no voting rights.
This transaction has no impact on the consolidated financial statements of TotalEnergies SE, the number of fully diluted weighted-average shares and the earnings per share.
_ _ _ _
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
|---|
Cautionary Note
The terms “TotalEnergies”, “TotalEnergiescompany” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that aredirectly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” mayalso be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholdingare separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may containforward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitiveand regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergiesSE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives ortrends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors,that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-languageversion of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF),and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Exhibit 99.11
| PRESS<br> RELEASE |
|---|
TotalEnergies proposes an ordinary dividend of2.81 €/sharefor fiscal year 2022, a 6.4% increase,and the confirmation of the 1 €/share special dividend
Paris, February 8,2023 – The Board of Directors met on February 7, 2023, and decided to propose to the Shareholders’ Meeting on May 26, 2023, the distribution of an ordinary dividend of 2.81 €/share for fiscal year 2022, versus 2.64 €/share for fiscal year 2021, a 6.4% increase.
Consequently, taking into account the three ordinary interim dividends of 0.69 €/share previously decided by the Board of Directors, the final ordinary dividend for fiscal year 2022 will be 0.74 €/share, a 7.25% increase compared to the ordinary interim dividends.
In addition, the Board of directors decided to propose the confirmation of the 1 €/share special dividend for fiscal year 2022, that was paid on December 16, 2022.
As proposed, TotalEnergies’shareholders would benefit from a 3.81 €/share dividend (ordinary plus special) for fiscal year 2022.
Subject to approval at the Shareholders’ Meeting, the final ordinary dividend will be paid in cash, according to the following timetable:
| Shareholders | ADS holders | |
|---|---|---|
| Ex-dividend date | June 21, 2023 | June 16, 2023 |
| Payment date | July 3, 2023 | July 17, 2023 |
______
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergiesContacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
|---|
Cautionary Note
The terms “TotalEnergies”, “TotalEnergiescompany” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that aredirectly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” mayalso be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholdingare separate legal entities. This
document may containforward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitiveand regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergiesSE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives ortrends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors,that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document,the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des MarchésFinanciers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Exhibit99.12
| PRESS RELEASE |
|---|
Indicative ex-dividenddates for 2024 dividend
Paris, February 8, 2023 – The Board of Directors met on February 7, 2023 and decided that, subject to decisions by the Board of Directors and the Shareholders’ Meeting which will approve the 2024 financial statements, allocation of earnings and final dividend, the ex-dividend dates of the interim and the final dividends for 2024 will be as follows:
| Type of coupon | Ex-dividend dates |
|---|---|
| First interim | September 25, 2024 |
| Second interim | January 2, 2025 |
| Third interim | March 26, 2025 |
| Final | June 19, 2025 |
The above ex-dividend dates relate to the TotalEnergies shares listed on the Euronext**.**
_ _ _ _
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
|---|
Cautionary Note
The terms “TotalEnergies”, “TotalEnergiescompany” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that aredirectly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” mayalso be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholdingare separate legal entities. This document may contain forward-looking information and statements that are based on a number of economicdata and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future andare subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publiclyany forward-looking information or statement, objectives or trends contained in this document whether as a result of new information,future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activitiesis provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE withthe French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United StatesSecurities and Exchange Commission (SEC).
Exhibit 99.13

Disclosure of Transactions in Own Shares
Paris, February 13, 2023 – In accordance with the authorization given by the ordinary shareholders’ general meeting on May 25, 2022 to trade on its shares and pursuant to applicable law on share repurchase, TotalEnergies SE (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from February 6 to February 10, 2023:
| Transaction Date | Total daily volume (number of shares) | Daily weighted average purchase price of shares (EUR/share) | Amount of transactions (EUR) | Market (MIC Code) |
|---|---|---|---|---|
| 06/02/2023 | 390,653 | 56.062775 | 21,901,091.24 | XPAR |
| 06/02/2023 | 150,000 | 56.090339 | 8,413,550.85 | CEUX |
| 06/02/2023 | 25,000 | 56.086070 | 1,402,151.75 | TQEX |
| 06/02/2023 | 10,000 | 56.101378 | 561,013.78 | AQEU |
| 0702/2023 | 385,576 | 56.976332 | 21,968,706.19 | XPAR |
| 0702/2023 | 150,000 | 56.964357 | 8,544,653.55 | CEUX |
| 0702/2023 | 25,000 | 56.966998 | 1,424,174.95 | TQEX |
| 0702/2023 | 10,000 | 56.956196 | 569,561.96 | AQEU |
| 08/02/2023 | 385,164 | 56.827828 | 21,888,033.54 | XPAR |
| 08/02/2023 | 150,000 | 56.824782 | 8,523,717.30 | CEUX |
| 08/02/2023 | 25,000 | 56.838932 | 1,420,973.30 | TQEX |
| 08/02/2023 | 10,000 | 56.847877 | 568,478.77 | AQEU |
| 09/02/2023 | 384,911 | 57.497385 | 22,131,375.96 | XPAR |
| 09/02/2023 | 150,000 | 57.492173 | 8,623,825.95 | CEUX |
| 09/02/2023 | 25,000 | 57.497366 | 1,437,434.15 | TQEX |
| 09/02/2023 | 10,000 | 57.504758 | 575,047.58 | AQEU |
| 10/02/2023 | 299,344 | 59.051762 | 17,676,790.64 | XPAR |
| 10/02/2023 | 110,000 | 59.036470 | 6,494,011.70 | CEUX |
| 10/02/2023 | 15,000 | 58.979032 | 884,685.48 | TQEX |
| 10/02/2023 | 10,000 | 59.025841 | 590,258.41 | AQEU |
| Total | 2,720,648 | 57.192087 | 155,599,537.05 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the TotalEnergies website:
https://totalenergies.com/investors/shares-and-dividends/total-shares/info/company-share-transactions
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
* * * * *
TotalEnergies contacts
Media Relations: +33 1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l [email protected]
Exhibit99.14
| PRESS RELEASE |
|---|
Capital increase reserved for employees ofTotalEnergies in 2023
Paris, February 15, 2023 - In accordance with its policy in favor of employee shareholding, TotalEnergies SE (the “Corporation”) is implementing its annual capital increase reserved for employees and former employees of the TotalEnergies company (the “Company”). Through this operation, TotalEnergies SE intends to continue involving its employees in the Company’s growth. Employee shareholders, within the meaning of Article L. 225-102 of the French Commercial Code and article 11 par. 6 of the Articles of Association of TotalEnergies SE, held 6.8% of TotalEnergies SE’s share capital as of December 31, 2022.
The twenty-second resolution of the Shareholders’ Meeting held on May 25, 2022 granted the Board of Directors (the “Board”) the authority to decide, within a maximum period of 26 months, to carry out one or more capital increases of ordinary shares without preferential subscription rights, not to exceed 1.5% of the share capital at the date of the Board meeting deciding on the operation and reserved to members of a savings plan pursuant to the provisions of Articles L. 225-129 et seq., L. 225-138 and L. 225-138-1 of the French Commercial Code and Articles L. 3332-1 to L. 3332-9 and L. 3332-18 to L. 3332-24 of the French Labor Code.
The Board, pursuant to the above-mentioned authorization, approved the principle during its meeting on September 22, 2022, to carry out, in 2023, a new share capital increase reserved for employees and former employees of the Company pursuant to the following conditions:
' Maximum number of shares to be offered and total amount of the offer: 18 million shares with a nominal value of €2.50 each, representing a total nominal amount of €45 million, which is the equivalent of 0.69% of the share capital as of the date of the Board’s decision.
' Share subscription price: equal to price corresponding to the average of the closing prices of the TotalEnergies shares on Euronext over the 20 trading sessions preceding the date of the decision setting the opening date for the subscription period, reduced by a 20% discount, and rounded off to the highest tenth of a euro. The subscription price will be definitively fixed before the beginning of the subscription period.
Acting by virtue of the powers subdelegated to him by the Board on September 22, 2022, Patrick Pouyanné, Chairman and CEO of TotalEnergies, set the following terms and conditions on October 11, 2022:
' Description of the newly issued shares: same category as existing TotalEnergies shares with immediate dividend rights. The rights attached to the newly issued shares are the same as the rights attached to the existing shares of the Corporation, and are described in the Articles of Association of TotalEnergies SE.
' Listing of the newly issued shares on Euronext: on the same line as existing TotalEnergies shares (ISIN code FR0000120271), from their issuance. American Depositary Receipts admitted to trading on the New York Stock Exchange may be issued in exchange for the new shares.
y" Indicative timeline(subject to the Chairman and CEO’s final confirmation):
- Determination of the subscription price: April 26, 2023;
- Subscription period: from April 28, 2022 to May 15, 2023 (included).
Please refer to the appendix to this press release for further information on this operation.
_ _ _ _
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
|---|
Cautionary Note
The program, reserved to eligible employeesand retirees of the Company, will be implemented in France as well as in certain foreign countries, including the United States, wherethe shares offered in the United States will be registered with the Securities and Exchange Commission (SEC). Shares and FCPE units offeredoutside the United States will not be registered with the SEC. In particular, the units of the below-mentioned FCPEs cannot be offeredor sold in the United States directly or indirectly (or in its territories or possessions), or for the benefit of a "U.S. Person",as defined in American regulations. Persons wishing to subscribe to units in these FCPEs, will have to certify, when subscribing, thatthey are not "U.S. Persons". The definition of "U.S. Person" is available on the FCPE Management Company's website(www.amundi.com).
This press release is produced for informationpurposes only and does not constitute an offer for the sale or the subscription of securities. Moreover, this press release should notbe distributed in the countries where the offering remains subject to approval of the local authorities.
The offer will be issued only in the countrieswhere the local administrative and regulatory procedures have been implemented (in particular, the registration procedures, notification,granting of authorizations and/or applicable exemptions and the information or the consultation of the representatives of the employees).
This press release represents the document requiredto qualify for the exemption from the requirement to publish a prospectus as defined in Articles 1 4°i) and 5°h) of the Regulation(UE) 2017/1129 of June 14, 2017.
A****PPENDIXTO THE PRESS RELEASE ON FEBRUARY 15, 2023
ISSUER:TotalEnergies SE
Information related to TotalEnergies SE is available on its website (www.totalenergies.com) and more specifically in its 2020 Universal Registration Document, the French version of which was filed with the Autorité des marchés financiers (“AMF”) on March 25, 2022 under the registration number D. 22-0158 and is also available free of charge at the head office of TotalEnergies SE.
SCOPE OF THE RESERVED OFFERING:CORPORATIONS AND BENEFICIARIES
Approximately 115,000 beneficiaries are eligible to participate in the 2022 capital increase. Subject to compliance with regulations and required administrative approvals being obtained in the different countries, this capital increase will be reserved to employees and former employees of the Corporation and its French and non-French subsidiaries, the capital or voting rights of which, as of the opening date for the subscription period, are directly or indirectly held at more than 50% by TotalEnergies SE (the “Subsidiaries”), members of the PEG-A:
| - | employees of TotalEnergies SE and its Subsidiaries: |
|---|---|
| · | who have at least 3 months of employment with<br>the Company as of the last day of the subscription period; and |
| --- | --- |
| - | former employees of TotalEnergies SE or the Subsidiaries, if<br>they: |
| --- | --- |
| · | have left the Company due to retirement or early retirement; |
| --- | --- |
| · | had made at least one payment in the PEG-A before termination of their employment; |
| --- | --- |
| · | still have assets invested in the PEG-A, and, thus, are members of the plan. |
| --- | --- |
MATCHING CONTRIBUTION
Employees subscribing to the offering will benefit from a matching contribution in the form of a free allotment of additional shares, determined based on the amount of the personal contribution and within the limits of five free shares per employee and within the maximum amount of the offering set by the Board at its meeting on September 22, 2022.
SUBSCRIPTION TERMS AND CONDITIONS
The beneficiaries will have the opportunity to subscribe via employee shareholding funds (“FCPEs”) created for the needs of this offering and which have been approved by the AMF. In the countries where this option is not available the shares will be directly subscribed.
Voting rights attached to the shares subscribed through an FCPE will be exercised by the Supervisory Board of such FCPE. With respect to the shares subscribed directly by employees, the voting rights will be exercised by the subscribers individually.
MAXIMUM SUBSCRIPTION
Pursuant to Article L. 3332-10 of the French Labor Code, the amount of the payments made each year by an employee as part of a savings plan (excluding matching contribution and profit-sharing schemes, i.e., intéressement and participation) cannot exceed one quarter of the employee’s gross annual salary.
LOCK-UPPERIOD FOR THE UNITS OR SHARES
Pursuant to Article L. 3332-25 of the French Labor Code, shares or FCPE units subscribed in this offering must be held during a lock-up period of five years, except for certain early release cases provided for by Articles L. 3324-10 et R. 3324-22 of the French Labor Code. For beneficiaries who are not French tax residents, the list of early release cases may be adapted due to legal provisions applicable locally.
RULE FOR REDUCTION OF SUBSCRIPTION REQUESTS
The capital increase will be fulfilled by the total number of shares subscribed directly by employees and via the FCPEs. If the total number of subscribed shares exceeds the maximum number of shares offered by the Board of Directors at its meeting on September 22, 2022 (18
million shares, including shares allotted as an immediate employer contribution), the subscriptions will be cut back in the following manner:
| - | all subscription undertakings will be fully honored up to the subscription average, defined as the quotient<br>between the maximum number of shares offered by the Board and the number of subscribers, |
|---|---|
| - | subscriptions undertakings that exceed the subscription average will be fulfilled in proportion to the<br>number of subscription undertakings not yet fulfilled with the reduction being made as follows: |
| --- | --- |
| · | the reduction will be carried out on a pro rata basis according to the subscription<br>undertakings; and |
| --- | --- |
| · | the reduction will be carried out first on the portion of the offer paid with<br>salary advance, then on the portion paid in cash. |
| --- | --- |
Exhibit99.15
| PRESS RELEASE |
|---|
TotalEnergies and Corio join forces to develop offshore wind in
Taiwan
| · | TotalEnergies and Corio will take forward Taiwan’sFormosa 3 offshore windproject |
|---|---|
| · | Formosa 3’s Haiding 2 windfarmwas awarded 600 MW in grid capacity in December by the Bureau of Energy, as part of Taiwan’s Round 3 offshore wind auction. |
| --- | --- |
| · | TheFormosa 3 project comprises three proposed windfarms – Haiding 1, 2 and 3 – in Changhua county on the central-western coastof Taiwan. |
| --- | --- |
Paris, February 16^th^,2023 –TotalEnergies and Corio Generation, two of the world’s leading offshore wind and renewable energy developers, have signed a joint venture partnership to develop the Formosa 3 offshore windfarms in Taiwan. Under this agreement, Corio will remain the majority shareholder and lead developer with 50% plus 10 shares overall in project.
The announcement comes after Taiwan’s Bureau of Energy confirmed in late December 2022 that Formosa 3’s Haiding 2 windfarm had been successfully awarded 600 MW grid capacity following the first phase of Taiwan’s Round 3 auctions.
The Formosa 3 project comprises three proposed windfarms – Haiding 1, 2 and 3 – in Changhua county on the central-western coast of Taiwan. The project received Environmental Impact Assessment (EIA) approvals in 2018, with an EIA-approved capacity of around 2 GW.
The windfarm development is expected to contribute to Taiwan’s ambitious plans for the green energy transition and represents a multi-billion investment from the partners and project lenders up to the end of construction. Future investments will be made in proportion to the partners’ project shareholdings.
“We are very pleased to team up again with our strategic partner Corio, this time to develop offshore wind in Taiwan. This marks a new step toward supporting Taiwan’s energy transition, bringing sustainable, low-cost energy to the country. It also demonstrates our dedication to build up our global multi-energy business model through a series of investments to grow our worldwide renewable portfolio from 17 GW in 2022 to 35 GW in 2025, in line with our ambition to be one of the top 5 renewables developers by 2030.” said Vincent Stoquart, Senior Vice-President Renewablesat TotalEnergies.
“We are thrilled to welcome TotalEnergies as our partner in building offshore windfarms in Taiwan. Our two companies have a longstanding relationship and strong track record in developing projects across Europe and Asia-Pacific and so we are absolutely delighted to be working together again in Taiwan” said Jonathan Cole, CEO of Corio Generation. “Corio has one of the largest offshore wind project portfolios worldwide with more than 20 GW in development. As a transformative source of clean and reliable energy, we believe offshore wind offers huge benefits to Taiwan’s communities and economy. The Formosa 3 windfarms will support job creation and provide many opportunities for local businesses to participate in the green energy transition.”
The partnership announced today in Taiwan is the latest example of TotalEnergies and Corio, combining their leading industrial, technical, and financial expertise to pursue offshore wind opportunities across the world.
Other projects developed by TotalEnergies and Corio include:
| · | The<br>2 GW West of Orkney Windfarm project in Scotland, UK |
|---|---|
| · | The<br>1.5 GW Outer Dowsing Offshore Wind project in England, UK |
| --- | --- |
| · | Over<br>2 GW of floating wind projects in South Korea |
| --- | --- |
| · | The<br>250 MW floating windfarm tender in France’s South Brittany region |
| --- | --- |
| · | The<br>500 MW floating windfarm tender in France’s Mediterranean region |
| --- | --- |
This agreement is subject to the receipt of applicable regulatory approvals from relevant authorities.
***
TotalEnergies and renewable electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end 2022, TotalEnergies' gross renewable electricity generation installed capacity is 17 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 producers of electricity from wind and solar energy.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
|---|
About Corio Generation
Corio Generation is a Green Investment Group (GIG) portfolio company, operating on a standalone basis. GIG is a specialist green investor within Macquarie Asset Management, part of Macquarie Group.
Corio is a specialist offshore wind business dedicated to harnessing renewable energy worldwide. With a unique blend of sector-leading expertise and deep access to long-term capital, we work closely with our partners in the creation and management of projects from origination, development and construction, and into operations.
Corio’s global 20+ GW offshore wind development portfolio is one of the largest in the world, spanning established and emerging markets, as well as floating and traditional fixed-bottom technologies. These next generation offshore wind projects will help form the backbone of the net-zero global energy system while meeting the energy needs of communities and corporate offtakers sustainably, reliably, safely and responsibly.
Prior to the launch of Corio in April 2022 as a specialist offshore wind developer, the Taipei-based team played a pioneering role in helping to establish Taiwan’s offshore wind sector. The team was instrumental in delivering Formosa 1, Taiwan’s first offshore windfarm, and has in addition supported the development of Formosa 2, now under construction.
Agreement
Under the terms of the joint venture agreement between TotalEnergies and Corio Generation, shareholdings in the Formosa 3 windfarms are as follows:
| Formosa 3 windfarms | Corio Generation | TotalEnergies |
|---|---|---|
| Haiding 1 | 50.0000366% | 49.9999634% |
| Haiding 2 | 50.0000481% | 49.9999519% |
| Haiding 3 | 50.0000508% | 49.9999491% |
Corio’s lead shareholding in Formosa 3 is supported by its development partner Ontario Teachers’ Pension Plan Board.
Media Contacts
TotalEnergies
Media Relations: +33 1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
Corio Generation
Will Henley, Head of Communications
Phone: +44 7840 850 183
Email: [email protected]
Cautionary Note
This press release, from which no legal consequencesmay be drawn, is for information purposes only. The entities in which TotalEnergies SE directly or indirectly owns investments are separatelegal entities. TotalEnergies SE has no liability for their acts or omissions. The terms “Company” or “TotalEnergiescompany” refer collectively to the company TotalEnergies SE and the companies it controls directly or indirectly. Such terms areused solely for the sake of convenience for purposes of the present communication. Likewise, the words “we”, “us”and “our” may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-lookinginformation and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatoryenvironment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor anyof its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends containedin this document whether as a result of new information, future events or otherwise.
Exhibit 99.16

Disclosure of Transactions in Own Shares
Paris, February 20, 2023 – In accordance with the authorization given by the ordinary shareholders’ general meeting on May 25, 2022 to trade on its shares and pursuant to applicable law on share repurchase, TotalEnergies SE (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from February 13 to February 17, 2023:
| Transaction Date | Total daily volume (number of shares) | Daily weighted average purchase price of shares (EUR/share) | Amount of transactions (EUR) | Market (MIC Code) |
|---|---|---|---|---|
| 13/02/2023 | 297,121 | 59.386015 | 17,644,832.16 | XPAR |
| 13/02/2023 | 110,000 | 59.338198 | 6,527,201.78 | CEUX |
| 13/02/2023 | 15,000 | 59.308536 | 889,628.04 | TQEX |
| 13/02/2023 | 10,000 | 59.370398 | 593,703.98 | AQEU |
| 14/02/2023 | 289,022 | 60.096429 | 17,369,190.10 | XPAR |
| 14/02/2023 | 110,000 | 60.088648 | 6,609,751.28 | CEUX |
| 14/02/2023 | 15,000 | 60.086308 | 901,294.62 | TQEX |
| 14/02/2023 | 10,000 | 60.102581 | 601,025.81 | AQEU |
| 15/02/2023 | 292,164 | 59.985100 | 17,525,486.76 | XPAR |
| 15/02/2023 | 110,000 | 59.972387 | 6,596,962.57 | CEUX |
| 15/02/2023 | 15,000 | 59.974919 | 899,623.79 | TQEX |
| 15/02/2023 | 10,000 | 59.973219 | 599,732.19 | AQEU |
| 16/02/2023 | 292,627 | 59.914185 | 17,532,508.21 | XPAR |
| 16/02/2023 | 110,000 | 59.922263 | 6,591,448.93 | CEUX |
| 16/02/2023 | 15,000 | 59.907077 | 898,606.16 | TQEX |
| 16/02/2023 | 10,000 | 59.919478 | 599,194.78 | AQEU |
| 17/02/2023 | 302,193 | 59.009280 | 17,832,191.35 | XPAR |
| 17/02/2023 | 110,000 | 59.042588 | 6,494,684.68 | CEUX |
| 17/02/2023 | 15,000 | 59.034440 | 885,516.60 | TQEX |
| 17/02/2023 | 10,000 | 59.024037 | 590,240.37 | AQEU |
| Total | 2,148,127 | 59.671902 | 128,182,824.16 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the TotalEnergies website:
https://totalenergies.com/investors/shares-and-dividends/total-shares/info/company-share-transactions
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
* * * * *
TotalEnergies contacts
Media Relations: +33 1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l [email protected]
Exhibit 99.17
| PRESS RELEASE |
|---|
South Africa: TotalEnergiessigns Renewable PowerPurchase Agreements with Sasol and Air Liquide
**Paris, 23 February 2023 –**TotalEnergies has signed Corporate Power Purchase Agreements (CPPA) with Sasol South Africa and Air Liquide Large Industries South Africa for the supply of 260 MW capacity of renewable electricity over 20 years.
TotalEnergies will develop a 120 MW solar plant and a 140 MW windfarm in the Western Cape province to supply around 850 GWh of green electricity per year to the Sasol’s Secunda site, located 700 kilometers further North-East, where Air Liquide operates the biggest oxygen production site in the world.
The two projects will provide competitive and available renewable electricity to decarbonize Sasol and Air Liquide’s production. These agreements demonstrate TotalEnergies’ positioning to contribute to the evolution of the energy mix in South Africa. The projects will have a direct impact on the local community through job creations.
“Power generation in South Africa is still 80% based on coal and power cuts occur daily. With these developments we are proud to support Air Liquide and Sasol for their supply of green electricity. Meanwhile, we are pleased to contribute to South Africa’s energy transition which consists of increasing its share of renewables and gas as an alternative to coal” said Vincent Stoquart, Senior Vice President, Renewables at TotalEnergies.“There is a dynamic market for corporate PPAs in South Africa and we want TotalEnergies to take a strong leadership position.”
The two projects are expected to be operational in 2025. The CPPAs with SASOL and Air Liquide were signed with a consortium of TotalEnergies Marketing South Africa^1^(70%), its partner Mulilo (17%) and a to-be-announced B-BBEE partner (13%).
These projects are subject to regulatory approvals.
***
TotalEnergies and renewables electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end of 2022, TotalEnergies' gross renewable electricity generation installed capacity was 17 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 producers of electricity from wind and solar energy.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
1 TotalEnergies Marketing South Africa is a South African registered company of TotalEnergies (50.1%) and a number of South african BBBEE investors (49.9%).
| @TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies |
|---|
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company”or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectlycontrolled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to referto these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separatelegal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptionsmade in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a numberof risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking informationor statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Informationconcerning risk factors, that may affect Total Energies’ financial results or activities is provided in the most recent UniversalRegistration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autoritédes Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Exhibit 99.18

Disclosure of Transactions in Own Shares
Paris, February 27, 2023 – In accordance with the authorization given by the ordinary shareholders’ general meeting on May 25, 2022 to trade on its shares and pursuant to applicable law on share repurchase, TotalEnergies SE (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from February 20 to February 24, 2023:
| Transaction Date | Total daily volume (number of shares) | Daily weighted average purchase price of shares (EUR/share) | Amount of transactions (EUR) | Market (MIC Code) |
|---|---|---|---|---|
| 20/02/2023 | 300,695 | 58.946782 | 17,725,002.61 | XPAR |
| 20/02/2023 | 110,000 | 58.957137 | 6,485,285.07 | CEUX |
| 20/02/2023 | 15,000 | 58.955419 | 884,331.29 | TQEX |
| 20/02/2023 | 10,000 | 58.955558 | 589,555.58 | AQEU |
| 21/02/2023 | 292,758 | 58.727275 | 17,192,879.57 | XPAR |
| 21/02/2023 | 120,000 | 58.726365 | 7,047,163.80 | CEUX |
| 21/02/2023 | 15,000 | 58.728402 | 880,926.03 | TQEX |
| 21/02/2023 | 10,000 | 58.729494 | 587,294.94 | AQEU |
| 22/02/2023 | 296,816 | 58.295751 | 17,303,111.63 | XPAR |
| 22/02/2023 | 120,000 | 58.299668 | 6,995,960.16 | CEUX |
| 22/02/2023 | 15,000 | 58.303129 | 874,546.94 | TQEX |
| 22/02/2023 | 10,000 | 58.298236 | 582,982.36 | AQEU |
| 23/02/2023 | 292,978 | 58.961127 | 17,274,313.07 | XPAR |
| 23/02/2023 | 120,000 | 58.966015 | 7,075,921.80 | CEUX |
| 23/02/2023 | 15,000 | 58.974516 | 884,617.74 | TQEX |
| 23/02/2023 | 10,000 | 58.966994 | 589,669.94 | AQEU |
| 24/02/2023 | 294,523 | 59.011440 | 17,380,226.34 | XPAR |
| 24/02/2023 | 120,000 | 59.011942 | 7,081,433.04 | CEUX |
| 24/02/2023 | 15,000 | 59.010712 | 885,160.68 | TQEX |
| 24/02/2023 | 10,000 | 59.010340 | 590,103.40 | AQEU |
| Total | 2,192,770 | 58.788877 | 128,910,485.99 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the TotalEnergies website:
https://totalenergies.com/investors/shares-and-dividends/total-shares/info/company-share-transactions
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
* * * * *
TotalEnergies contacts
Media Relations: +33 1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 1 47 44 46 46 l [email protected]