# EDGAR Filing Document

**Accession Number:** 0000879764
**File Stem:** 0001410578-25-001493
**Filing Date:** 2025-7
**Character Count:** 224400
**Document Hash:** 0b0e0311fb1b8093fb4c724c3b3525bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410578-25-001493.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001410578-25-001493

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 45

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TotalEnergies SE
- **CENTRAL INDEX KEY:** 0000879764
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** I0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10888
- **FILM NUMBER:** 251144636

**BUSINESS ADDRESS:**
- **STREET 1:** 2 PLACE JEAN MILLIER
- **STREET 2:** LA DEFENSE 6
- **CITY:** COURBEVOIE
- **STATE:** I0
- **ZIP:** 92400
- **BUSINESS PHONE:** 33 (0)1 41 35 04 48

**MAIL ADDRESS:**
- **STREET 1:** 2 PLACE JEAN MILLIER
- **STREET 2:** ARCHE NORD COUPOLE/REGNAULT
- **CITY:** PARIS LA DEFENSE CEDEX
- **STATE:** I0
- **ZIP:** 92078

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TOTAL SE
- **DATE OF NAME CHANGE:** 20200717

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TOTAL S.A.
- **DATE OF NAME CHANGE:** 20121204

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TOTAL SA
- **DATE OF NAME CHANGE:** 20030508

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM 6-K**

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**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16 OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

**July 24, 2025**

**Commission File Number 001-10888**

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**TotalEnergies SE**

**(Translation of registrant's name into English)**

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**2, place Jean Millier**

**La Défense 6**

**92400 Courbevoie**

**France**

**(Address of principal executive offices)**

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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 ☒&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.

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THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (NOS. 333-278983, 333-278983-01, 333-278983-02 AND 333-278983-03) OF TOTALENERGIES SE, TOTALENERGIES CAPITAL INTERNATIONAL, TOTALENERGIES CAPITAL CANADA LTD. AND TOTALENERGIES CAPITAL AND THE REGISTRATION STATEMENT ON FORM S-8 (NOS. 333-286845 AND 333-280516) OF TOTALENERGIES SE, AND TO BE PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

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TotalEnergies SE is providing on this Form 6-K its results for the second quarter of 2025 and the six months ended June 30, 2025, a description of certain recent developments relating to its business, as well as a capitalization table as of June 30, 2025.

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**EXHIBIT INDEX**

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| | |
|:---|:---|
| <u>Exhibit No.</u> | <u>Description</u> |
| Exhibit 99.1 | [Results for the Second Quarter of 2025 and Six Months Ended June 30, 2025](tot-20250630xex99d1.htm)  |
| Exhibit 99.2 | [Recent Developments](tot-20250630xex99d2.htm) |
| Exhibit 99.3 | [Capitalization and Indebtedness](tot-20250630xex99d3.htm) |

---

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**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.

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| | | | |
|:---|:---|:---|:---|
|  | **TotalEnergies SE** | **TotalEnergies SE** | **TotalEnergies SE** |
| Date: July 24<sup>th</sup>, 2025 | By: | /s/ DENIS TOULOUSE | /s/ DENIS TOULOUSE |
|  |  | Name: | Denis Toulouse |
|  |  | Title: | Company Treasurer |

---

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## Exhibit 99.1

?xml version='1.0' encoding='ASCII'? TotalEnergies SE_2025-06-30

#### Exhibit 99.1

#### OPERATING AND FINANCIAL REVIEW AND PROSPECTS
The terms "TotalEnergies", "TotalEnergies company" and "Company" in this exhibit are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE.

The financial and extra-financial information on pages 1-24 of this exhibit relating to TotalEnergies with respect to the second quarter of 2025 and six months ended June 30, 2025 has been derived from TotalEnergies' unaudited consolidated balance sheets as of June 30, 2025, unaudited statements of income, comprehensive income, cash flow and business segment information for the second quarter of 2025 and six months ended June 30, 2025 and unaudited consolidated statements of changes in shareholders' equity for the six months ended June 30, 2025 on pages 26 et seq. of this exhibit.

The following discussion should be read in conjunction with the aforementioned financial statements and with the information, including TotalEnergies' audited consolidated financial statements and related notes, provided in TotalEnergies' Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission ("SEC") on March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;**A.** **KEY FIGURES** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars,**<br>**except earnings per share and number of shares** | <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 49627 | 52254 | *-5%* | 53743 | Sales | 101881 | 110021 | *-7%* |
| 2687 | 3851 | *-30%* | 3787 | Net income (TotalEnergies share) | 6538 | 9508 | *-31%* |
| 9690 | 10504 | *-8%* | 11073 | Adjusted EBITDA <sup>(1)</sup> | 20194 | 22566 | *-11%* |
| 4390 | 4792 | *-8%* | 5339 | Adjusted net operating income <sup>(2)</sup> from business segments | 9182 | 10939 | *-16%* |
| 1974 | 2451 | *-19%* | 2667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration & Production | 4425 | 5217 | *-15%* |
| 1041 | 1294 | *-20%* | 1152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Integrated LNG | 2335 | 2374 | *-2%* |
| 574 | 506 | *+13%* | 502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Integrated Power | 1080 | 1113 | *-3%* |
| 389 | 301 | *+29%* | 639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Refining & Chemicals | 690 | 1601 | *-57%* |
| 412 | 240 | *+72%* | 379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing & Services | 652 | 634 | *+3%* |
| 3578 | 4192 | *-15%* | 4672 | Adjusted net income <sup>(1)</sup> (TotalEnergies share) | 7770 | 9784 | *-21%* |
| 1.17 | 1.68 | *-* | 1.60 | Fully-diluted earnings per shares ($) | 2.85 | 4.02 | *-* |
| 2224 | 2246 | *-1%* | 2328 | Fully-diluted weighted-average shares (millions) | 2236 | 2333 | *-4%* |
| 6689 | 4805 | *+39%* | 4558 | Cash flow used in investing activities | 11494 | 8025 | *+43%* |
| 4819 | 4501 | *+7%* | 4410 | Organic investments <sup>(1)</sup> | 9320 | 8482 | *+10%* |
| 1813 | 420 | *x4.3* | 220 | Acquisitions net of assets sales<sup>(1)</sup> | 2233 | (280) | *ns* |
| 6632 | 4921 | *+35%* | 4630 | Net investments <sup>(1)</sup> | 11553 | 8202 | *+41%* |
| 5960 | 2563 | *x2.3* | 9007 | Cash flow from operating activities | 8523 | 11176 | *-24%* |
| 6618 | 6992 | *-5%* | 7777 | Cash flow from operations excluding working capital (CFFO) <sup>(1)</sup> | 13610 | 15945 | *-15%* |
| 6943 | 7276 | *-5%* | 7895 | Debt Adjusted Cash Flow (DACF) <sup>(1)</sup> | 14220 | 16207 | *-12%* |
| Gearing<sup>(1)</sup> of 17.9% at June 30, 2025 vs. 14.3% at March 31, 2025 and 10.2% at June 30, 2024. | Gearing<sup>(1)</sup> of 17.9% at June 30, 2025 vs. 14.3% at March 31, 2025 and 10.2% at June 30, 2024. | Gearing<sup>(1)</sup> of 17.9% at June 30, 2025 vs. 14.3% at March 31, 2025 and 10.2% at June 30, 2024. | Gearing<sup>(1)</sup> of 17.9% at June 30, 2025 vs. 14.3% at March 31, 2025 and 10.2% at June 30, 2024. | Gearing<sup>(1)</sup> of 17.9% at June 30, 2025 vs. 14.3% at March 31, 2025 and 10.2% at June 30, 2024. | Gearing<sup>(1)</sup> of 17.9% at June 30, 2025 vs. 14.3% at March 31, 2025 and 10.2% at June 30, 2024. | Gearing<sup>(1)</sup> of 17.9% at June 30, 2025 vs. 14.3% at March 31, 2025 and 10.2% at June 30, 2024. | Gearing<sup>(1)</sup> of 17.9% at June 30, 2025 vs. 14.3% at March 31, 2025 and 10.2% at June 30, 2024. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Adjusted EBITDA, adjusted net income, organic investments, acquisitions net of assets sales, net investments, cash flow from operations excluding working capital (CFFO), debt adjusted cash flow (DACF) and gearing are non-GAAP financial measures. Refer to the Glossary on page 25 for the definitions and further information on non-GAAP measures (alternative performance measures) and to pages 16 and following for reconciliation tables.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Detail of adjustment items shown in the business segment information starting on page 39.

#### Key figures of environment, greenhouse gas emissions (GHG) and production

#### Environment – liquids and gas price realizations, refining margins

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **2Q25** |  |  |  |  | **1H25** |
| **2Q25** | **1Q25** | **vs** | **2Q24** |  | **1H25** | **1H24** | **vs** |
|  |  | **1Q25** |  |  |  |  | **1H24** |
| 67.9 | 75.7 | *-10%* | 85.0 | Brent ($/b) | 71.9 | 84.1 | *-15%* |
| 3.5 | 3.9 | *-9%* | 2.3 | Henry Hub ($/Mbtu) | 3.7 | 2.2 | *+66%* |
| 11.9 | 14.4 | *-18%* | 10.0 | TTF ($/Mbtu)<sup>(1)</sup> | 13.2 | 9.4 | *+40%* |
| 12.2 | 14.1 | *-13%* | 11.2 | JKM ($/Mbtu)<sup>(2)</sup> | 13.1 | 10.3 | *+28%* |
| 65.6 | 72.2 | *-9%* | 81.0 | Average price of liquids <sup>(3), (4)</sup> ($/b) <br> Consolidated subsidiaries  | 68.7 | 79.9 | *-14%* |
| 5.63 | 6.60 | *-15%* | 5.05 | Average price of gas <sup>(3), (5)</sup> ($/Mbtu) <br> Consolidated subsidiaries  | 6.13 | 5.08 | *+21%* |
| 9.10 | 10.00 | *-9%* | 9.32 | Average price of LNG <sup>(3), (6)</sup> ($/Mbtu) <br>Consolidated subsidiaries and equity affiliates | 9.55 | 9.46 | *+1%* |
| 35.3 | 29.4 | *+20%* | 44.9 | European Refining Margin (ERM) <sup>(3), (7)</sup> ($/t) | 32.4 | 58.3 | *-44%* |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) TTF (Title Transfer Facility) is a virtual trading point in the Netherlands for transferring rights in respect of physical gas. It is the most liquid and widely used price benchmark for the natural gas markets in Europe. TTF is operated by Gasunie Transport Services (GTS), the owner and operator of the national transmission network in the Netherlands. It is traded in €/MWh.

&nbsp;&nbsp;&nbsp;&nbsp;(2) JKM (Japan-Korea Marker) measures the prices of spot liquid natural gas (LNG) trades in Asia. It is based on prices reported in spot market trades and/or bids and offers collected after the close of the Asian trading day at 16:30 Singapore time.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not include oil, gas and LNG trading activities, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Sales in $/ Sales in volume for consolidated affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Sales in $/ Sales in volume for consolidated affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Sales in $/ Sales in volume for consolidated and equity affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;(7) This market indicator for European refining, calculated based on public market prices ($/t), uses a basket of crudes, petroleum product yields and variable costs representative of the European refining system of TotalEnergies.

#### Greenhouse gas emissions (GHG) <sup>(1)</sup>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **2Q25** | **1Q25** | **2Q25vs1Q25** | **2Q24** | **Scope 1+2 emissions** <sup>(2)</sup> **(MtCO**<sub>2</sub>**e)** | **1H25** | **1H24** | **1H25vs1H24** |
| 8.0 | 8.4 | *-5%* | 7.7 | Scope 1+2 from operated facilities<sup>(3)</sup> | 16.4 | 15.9 | *+3%* |
| 7.1 | 7.2 | *-1%* | 7.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of which Oil & Gas | 14.3 | 14.1 | *+1%* |
| 0.9 | 1.2 | *-25%* | 0.7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of which CCGT | 2.1 | 1.8 | *+17%* |
| 10.6 | 11.1 | *-5%* | 10.3 | Scope 1+2 - ESRS share <sup>(3)</sup> | 21.7 | 21.2 | *+2%* |

---

Estimated quarterly emissions.

&nbsp;&nbsp;&nbsp;&nbsp;(1) The six greenhouse gases in the Kyoto protocol, namely CO <sub>2</sub> , CH <sub>4</sub> , N <sub>2</sub> O, HFCs, PFCs and SF <sub>6</sub> , with their respective 100-year time horizon GWP (Global Warming Potential) as described in the 2021 IPCC report. HFCs, PFCs and SF <sub>6</sub> are virtually absent from the Company's emissions or are considered as non-material and are therefore no longer counted with effect from 2018. In CO <sub>2</sub> equivalent terms, nitrous oxide (N <sub>2</sub> O) represents less than 1% of the Company's Scope 1+2 emissions.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Scope 1+2 GHG emissions are defined as the sum of direct emissions of GHG from sites or activities that are included in the scope of reporting and indirect emissions attributable to brought-in energy (electricity, heat, steam), net from potential energy sales, excluding purchased industrial gases (H <sub>2</sub>). Unless stated otherwise, TotalEnergies reports Scope 2 GHG emissions using the market-based method defined by the GHG Protocol.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Refer to the Glossary on page 25 for the definitions and further information on non-GAAP measures (alternative performance measures) and to pages 16 and following for reconciliation tables.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **2Q25** | **1Q25** | **2Q25**<br>**vs**<br>**1Q25** | **2Q24** | **1H25** | **1H24** | **1H25vs1H24** |
| 6 | 6 | - | 7<br> Methane emissions from operated facilities <sup>(1)</sup> | 11 | 15 | *-27%* |

---

Estimated quarterly emissions.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Refer to the Glossary on page 25 for the definitions and further information on non-GAAP measures (alternative performance measures) and to pages 16 and following for reconciliation tables.

Scope 1+2 emissions from operated installations were down 5% quarter-to-quarter given lower gas-fired power plants utilization rate.

First half 2025 Scope 3<sup>(1)</sup> Category 11 emissions are estimated to be about 170 Mt CO<sub>2</sub>e.

<sup>1</sup> If not stated otherwise, TotalEnergies reports Scope 3 GHG emissions, category 11, which correspond to indirect GHG emissions related to the direct use phase emissions of sold products over their expected lifetime (i.e., the scope 1 and scope 2 emissions of end users that occur from the combustion of fuels) in accordance with the definition of the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard Supplement. The Company follows the oil & gas industry reporting guidelines published by IPIECA, which comply with the GHG Protocol methodologies. In order to avoid double counting, this methodology accounts for the largest volume in the oil and gas value chains, i.e. the higher of the two production volumes or sales for end use. For TotalEnergies, in 2025, the calculation of Scope 3 GHG emissions for the oil value chain considers products sales (higher than production) and for the gas value chain, the marketable gas and condensates production (higher than gas sales, either as LNG or as direct sales to B2B/B2C customers). A stoichiometric emission factor (oxidation of molecules to carbon dioxide) is applied to these sales or production to obtain an emission volume. In accordance with the Technical Guidance for Calculating Scope 3 Emissions Supplement to the Corporate Value Chain (Scope 3) Accounting and Reporting Standard which defines end users as both consumers and business customers that use final products, and with IPIECA's Estimating petroleum industry value chain (Scope 3) greenhouse gas emissions guidelines, under which reporting of emissions from fuel purchased for resale to non-end users (e.g. traded) is optional, TotalEnergies does not report emissions associated with trading activities.

#### Production\*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **2Q25** |  |  |  |  | **1H25** |
| **2Q25** | **1Q25** | **vs** | **2Q24** | **Hydrocarbon production**  | **1H25** | **1H24** | **vs** |
|  |  | **1Q25** |  |  |  |  | **1H24** |
| 2503 | 2558 | *-2%* | 2441 | Hydrocarbon production (kboe/d) | 2531 | 2451 | *+3%* |
| 1343 | 1355 | *-1%* | 1318 | &nbsp;&nbsp;&nbsp;Oil (including bitumen) (kb/d) | 1349 | 1320 | *+2%* |
| 1160 | 1203 | *-4%* | 1123 | &nbsp;&nbsp;&nbsp;Gas (including condensates and associated NGL) (kboe/d) | 1182 | 1131 | *+4%* |
| 2503 | 2558 | *-2%* | 2441 | Hydrocarbon production (kboe/d) | 2531 | 2451 | *+3%* |
| 1506 | 1516 | *-1%* | 1477 | &nbsp;&nbsp;&nbsp;Liquids (kb/d) | 1511 | 1480 | *+2%* |
| 5395 | 5655 | *-5%* | 5180 | &nbsp;&nbsp;&nbsp;Gas (Mcf/d) | 5524 | 5215 | *+6%* |

---

\* Company production = Exploration & Production production + Integrated LNG production.

Hydrocarbon production was 2,503 thousand barrels of oil equivalent per day in the second quarter of 2025, up 2.5% year-on-year, and was comprised of:

● +5.5% due to start-ups and ramp-ups, including Mero-2, Mero-3 and Mero-4 in Brazil, Fenix in Argentina, Tyra in Denmark, and Anchor and Ballymore in the United States,

● -2.5% mainly due to more planned maintenance this quarter,

● +2.0% due to a portfolio effect related to the acquisitions of SapuraOMV in Malaysia and interests in the Eagle Ford shale gas plays in Texas and to a price effect,

● -2.5% due to the natural field declines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**B.** **ANALYSIS OF BUSINESS SEGMENT RESULTS**

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 and which is reviewed by the main operational decision-making body of TotalEnergies, namely the Executive Committee.

Management presents adjusted financial indicators to assist investors in better understanding, in conjunction with the Company's financial results presented in accordance with IFRS, the economic performance of the Company. Adjustment items are of three types: inventory valuation effect, effect of changes in fair value, and special items.

The inventory valuation effect: in accordance with IAS 2, TotalEnergies values inventories of petroleum products in its financial statements according to the First-In, First-Out (FIFO) method and other inventories using the weighted-average cost method. Under the FIFO method, the cost of inventory is based on the historic cost of acquisition or manufacture rather than the current replacement cost. In volatile energy markets, this can have a significant distorting effect on the reported income. Accordingly, 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 its main competitors. In the replacement cost method, which approximates the Last-In, First-Out (LIFO) 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 prices differential 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 under the FIFO and the replacement cost methods.

Effect of changes in fair value: the effect of changes in fair value presented as an adjustment item reflects, for trading inventories and storage contracts, differences between internal measures of performance used by TotalEnergies' Executive Committee 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.

Special items: due to their unusual nature or particular significance, certain transactions qualifying 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 assets disposals, which are not considered to be representative of the normal course of business, may qualify as special items although they may have occurred in prior years or are likely to occur in following years.

TotalEnergies measures performance at the segment level on the basis of Adjusted net operating income. Adjusted net operating income comprises operating income of the relevant segment after deducting the amortization and the depreciation of intangible assets other than mineral interest, translation adjustments and gains or losses on the sale of assets, as well as all other income and expenses related to capital employed (dividends from nonconsolidated companies, income from equity affiliates and capitalized interest expenses) and after income taxes applicable to the above, excluding the effect of the adjustments describe below.

The income and expenses not included in net operating income adjusted that are included in net income (TotalEnergies share) are interest expenses related to net financial debt, after applicable income taxes (net cost of net debt), non-controlling interests, and the adjusted items.

The operational profit and assets are broken down by business segment prior to the consolidation and inter-segment adjustments.

Sales prices for transactions between business segments approximate market prices.

The reporting structure for the business segments' financial information is based on the following five business segments:

- An Exploration & Production segment that encompasses the activities of exploration and production of oil and natural gas, conducted in about 50 countries;

- An Integrated LNG segment covering the integrated gas chain (including upstream and midstream LNG activities) as well as biogas, hydrogen and gas trading activities;

- An Integrated Power segment covering generation, storage, electricity trading and B2B-B2C distribution of gas and electricity;

- A Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining, petrochemicals and specialty chemicals. This segment also includes the activities of oil Supply, Trading and marine Shipping;

- A Marketing & Services segment including the global activities of supply and marketing in the field of petroleum products.

In addition, the Corporate segment includes holdings operating and financial activities.

#### B.1 Exploration & Production
1. Production

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Hydrocarbon production**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 1956 | 1976 | *-1%* | 1943 | EP (kboe/d) | 1966 | 1956 | *+1%* |
| 1437 | 1442 | *-* | 1413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liquids (kb/d) | 1440 | 1416 | *+2%* |
| 2767 | 2848 | *-3%* | 2829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gas (Mcf/d) | 2807 | 2883 | *-3%* |

---

2. Results

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars, except effective tax rate**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 1974 | 2451 | *-19%* | 2667 | Adjusted net operating income <sup>(1)</sup> | 4425 | 5217 | *-15%* |
| 176 | 150 | *+17%* | 207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;including adjusted income from equity affiliates | 326 | 352 | *-7%* |
| 50.1% | 49.4% | - | 46.9% | Effective tax rate <sup>(2)</sup> | 49.7% | 47.7% | *-* |
| 3106 | 2689 | *+16%* | 2548 | Cash flow used in investing activities | 5795 | 4536 | *+28%* |
| 3053 | 2684 | *+14%* | 2585 | Organic investments | 5737 | 4626 | *+24%* |
| 162 | 116 | *+40%* | 57 | Acquisitions net of assets sales | 278 | 93 | *x3* |
| 3215 | 2800 | *+15%* | 2642 | Net investments | 6015 | 4719 | *+27%* |
| 3675 | 3266 | *+13%* | 4535 | Cash flow from operating activities | 6941 | 8125 | *-15%* |
| 3760 | 4291 | *-12%* | 4353 | Cash flow from operations excluding working capital (CFFO) | 8051 | 8831 | *-9%* |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Detail of adjustment items shown in the business segment information starting on page 39.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Effective tax rate = (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates – dividends received from investments – impairment of goodwill + tax on adjusted net operating income).

In the second quarter of 2025, Exploration & Production:

● adjusted net operating income was $1,974 million, down $480 million quarter-to-quarter, reflecting for $400 million the sensitivities linked to the changing environment (average liquids price down 7$/b compared to the first quarter),

● cash flow from operating activities was $3,675 million, up 13% quarter-to-quarter, and

● cash flow from operations excluding working capital (CFFO) was $3,760 million, down $530 million quarter-to-quarter, reflecting the sensitivities linked to the changing environment.

#### B.2 Integrated LNG

#### 1.Production

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Hydrocarbon production for LNG**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 547 | 582 | *-6%* | 498 | Integrated LNG (kboe/d) | 565 | 495 | *+14%* |
| 69 | 74 | *-7%* | 64 | &nbsp;&nbsp;&nbsp;Liquids (kb/d) | 71 | 64 | *+12%* |
| 2628 | 2807 | *-6%* | 2351 | &nbsp;&nbsp;&nbsp;Gas (Mcf/d) | 2717 | 2332 | *+17%* |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Liquefied Natural Gas in Mt**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 10.6 | 10.6 | *-1%* | 8.8 | Overall LNG sales | 21.2 | 19.5 | *+9%* |
| 3.9 | 4.0 | *-3%* | 3.6 | &nbsp;&nbsp;&nbsp;Incl. Sales from equity production\* | 7.9 | 7.8 | *+1%* |
| 9.4 | 9.4 | *-* | 7.6 | &nbsp;&nbsp;&nbsp;Incl. Sales by TotalEnergies from equity production and third party purchases | 18.8 | 16.9 | *+11%* |

---

\* The Company's equity production may be sold by TotalEnergies or by the joint ventures.

Hydrocarbon production for LNG was down 6% in the second quarter of 2025 compared to the first quarter of 2025, notably due to scheduled maintenance at Snøhvit in Norway and Malaysia LNG, which impacted SK408 production.

Quarterly LNG sales were stable.

2. Results

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars, except average price of LNG**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 9.10 | 10.00 | *-9%* | 9.32 | Average price of LNG ($/Mbtu)<sup>(1)</sup><br>Consolidated subsidiaries and equity affiliates | 9.55 | 9.46 | *+1%* |
| 1041 | 1294 | *-20%* | 1152 | Adjusted net operating income<sup>(2)</sup> | 2335 | 2374 | *-2%* |
| 513 | 535 | *-4%* | 421 | &nbsp;&nbsp;&nbsp;including adjusted income from equity affiliates | 1048 | 915 | *+15%* |
| 852 | 892 | *-4%* | 815 | Cash flow used in investing activities | 1744 | 1330 | *+31%* |
| 743 | 752 | *-1%* | 624 | Organic investments | 1495 | 1164 | *+28%* |
| 110 | 140 | *-21%* | 198 | Acquisitions net of assets sales | 250 | 186 | *+34%* |
| 853 | 892 | *-4%* | 822 | Net investments | 1745 | 1350 | *+29%* |
| 539 | 1743 | *-69%* | 431 | Cash flow from operating activities | 2282 | 2141 | *+7%* |
| 1159 | 1249 | *-7%* | 1220 | Cash flow from operations excluding working capital (CFFO) | 2408 | 2568 | *-6%* |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Sales in $/ Sales in volume for consolidated and equity affiliates. Does not include LNG trading activities.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Detail of adjustment items shown in the business segment information starting on page 39.

In the second quarter of 2025, Integrated LNG:

● adjusted net operating income was $1,041 million, down 20% quarter-to-quarter, primarily due to a lower average LNG selling price reflecting oil price evolution and low market volatility for gas trading activities,

● cash flow from operating activities was $539 million, down 69% quarter-to-quarter, and

● cash flow from operations excluding working capital (CFFO) was $1,159 million, down 7% quarter-to-quarter, reflecting a lower average LNG selling price.

#### B.3 Integrated Power
1. Productions, capacities, clients and sales

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Integrated Power**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 11.6 | 11.3 | *+2%* | 9.1 | Net power production (TWh) <sup>(1)</sup> | 22.9 | 18.6 | *+23%* |
| 8.4 | 6.8 | *+23%* | 6.8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o/w power production from renewables | 15.2 | 12.8 | *+18%* |
| 3.2 | 4.5 | *-29%* | 2.2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o/w power production from gas flexible capacities | 7.7 | 5.8 | *+33%* |
| 24.0 | 22.7 | *+5%* | 19.6 | Portfolio of power generation net installed capacity (GW) <sup>(2)</sup> | 24.0 | 19.6 | *+22%* |
| 17.4 | 16.2 | *+7%* | 13.8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o/w renewables | 17.4 | 13.8 | *+26%* |
| 6.5 | 6.5 | *-* | 5.8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o/w power production from gas flexible capacities | 6.5 | 5.8 | *+13%* |
| 104.1 | 97.5 | *+7%* | 87.4 | Portfolio of renewable power generation gross capacity (GW) <sup>(2), (3)</sup> | 104.1 | 87.4 | *+19%* |
| 30.2 | 27.8 | *+9%* | 24.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o/w installed capacity | 30.2 | 24.0 | *+26%* |
| 6.0 | 6.0 | *-* | 6.0 | Clients power – BtB and BtC (Million) <sup>(2)</sup> | 6.0 | 6.0 | *+1%* |
| 2.7 | 2.8 | *-* | 2.8 | Clients gas – BtB and BtC (Million) <sup>(2)</sup> | 2.7 | 2.8 | *-* |
| 10.5 | 14.5 | *-27%* | 11.1 | Sales power – BtB and BtC (TWh) | 25.0 | 26.0 | *-4%* |
| 14.9 | 35.7 | *-58%* | 18.9 | Sales gas – BtB and BtC (TWh)  | 50.6 | 54.6 | *-7%* |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Solar, wind, hydroelectric and gas flexible capacities.

&nbsp;&nbsp;&nbsp;&nbsp;(2) End of period data *.* 

&nbsp;&nbsp;&nbsp;&nbsp;(3) Includes 19.25% of Adani Green Energy Ltd's gross capacity, 50% of Clearway Energy Group's gross capacity and 49% of Casa dos Ventos' gross capacity.

Net power production increased by 28% year-on-year to 11.6 TWh, driven by growth in renewable energy production and the acquisition of flexible gas capacities in the United Kingdom in 2024.

Gross installed renewable power generation capacity reached 30.2 GW at the end of the second quarter of 2025, up 26% year-on-year, i.e. a 6.2 GW increase.

#### Results

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 574 | 506 | *+13%* | 502 | Adjusted net operating income<sup>(1)</sup> | 1080 | 1113 | *-3%* |
| 22 | 44 | *-50%* | 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;including adjusted income from equity affiliates | 66 | (4) | *ns* |
| 2156 | 878 | *x2.5* | 508 | Cash flow used in investing activities | 3034 | 2185 | *+39%* |
| 421 | 645 | *-35%* | 596 | Organic investments | 1066 | 1539 | *-31%* |
| 1568 | 238 | *x6.6* | (88) | Acquisitions net of assets sales | 1806 | 647 | *x2.8* |
| 1989 | 883 | *x2.3* | 508 | Net investments | 2872 | 2186 | *+31%* |
| 799 | (399) | *ns* | 1647 | Cash flow from operating activities | 400 | 1398 | *-71%* |
| 562 | 597 | *-6%* | 623 | Cash flow from operations excluding working capital (CFFO) | 1159 | 1315 | *-12%* |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Detail of adjustment items shown in the business segment information starting on page 39.

In the second quarter of 2025, Integrated Power adjusted net operating income was $574 million, cash flow from operating activities was $799 million and cash flow from operations excluding working capital (CFFO) reached $562 million, leading to cash flow from operations excluding working capital (CFFO) of $1.2 billion for the first half of the year, in line with the annual guidance.

#### B.4 Downstream (Refining & Chemicals and Marketing & Services)
1. Results

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 801 | 541 | *+48%* | 1018 | Adjusted net operating income<sup>(1)</sup> | 1342 | 2235 | *-40%* |
| 505 | 311 | *+62%* | 653 | Cash flow used in investing activities | 816 | (87) | *ns* |
| 532 | 386 | *+38%* | 568 | Organic investments | 918 | 1088 | *-16%* |
| (27) | (75) | *ns* | 56 | Acquisitions net of assets sales | (102) | (1202) | *ns* |
| 505 | 311 | *+62%* | 624 | Net investments | 816 | (114) | *ns* |
| 1515 | (1415) | *ns* | 3191 | Cash flow from operating activities | 100 | 954 | *-90%* |
| 1483 | 1117 | *+33%* | 1776 | Cash flow from operations excluding working capital (CFFO) | 2600 | 3546 | *-27%* |

---

(1)Detail of adjustment items shown in the business segment information starting on page 39.

#### B.5 Refining & Chemicals
1. Refinery and petrochemicals throughput and utilization rates

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Refinery throughput and utilization rate\***<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 1589 | 1549 | *+3%* | 1511 | Total refinery throughput (kb/d) | 1569 | 1468 | *+7%* |
| 463 | 435 | *+7%* | 430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | 449 | 406 | *+11%* |
| 632 | 627 | *+1%* | 636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rest of Europe | 629 | 627 | *-* |
| 494 | 487 | *+1%* | 446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rest of world | 491 | 435 | *+13%* |
| 90% | 87% | -  | 84% | Utilization rate based on crude only\* | 89% | 82% | - |

---

\* Based on distillation capacity at the beginning of the year, excluding the African refinery SIR (divested) from the third quarter of 2024 and the African refinery Natref (divested) during the fourth quarter of 2024.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Petrochemicals production and utilization rate**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 1164 | 1250 | *-7%* | 1248 | Monomers\* (kt)  | 2414 | 2535 | *-5%* |
| 1127 | 1173 | *-4%* | 1109 | Polymers (kt) | 2300 | 2185 | *+5%* |
| 74% | 78% | - | 79% | Steam cracker utilization rate\*\* | 76% | 76% | - |

---

\* Olefins.

\*\* Based on olefins production from steam crackers and their treatment capacity at the start of the year, excluding Lavera (divested) from the second quarter of 2024.

Refinery throughput was up 3% quarter-on-quarter.

Petrochemicals output was down 7% quarter-on-quarter for monomers and down 4% quarter-on-quarter for polymers, mainly due to planned maintenance on the Normandie platform and to weak demand in Europe.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2. Results

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars, except ERM**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 35.3 | 29.4 | *+20%* | 44.9 | European Refining Margin Marker (ERM) ($/t)<sup>(1)</sup> | 32.4 | 58.3 | *-44%* |
| 389 | 301 | *+29%* | 639 | Adjusted net operating income<sup>(2)</sup> | 690 | 1601 | *-57%* |
| 309 | 236 | *+31%* | 316 | Cash flow used in investing activities | 545 | 713 | *-24%* |
| 333 | 236 | *+41%* | 382 | Organic investments | 569 | 801 | *-29%* |
| (24) | - | *ns* | (95) | Acquisitions net of assets sales | (24) | (115) | *ns* |
| 309 | 236 | *+31%* | 287 | Net investments | 545 | 686 | *-21%* |
| 887 | (1983) | *ns* | 1541 | Cash flow from operating activities | (1096) | (588) | *ns* |
| 772 | 633 | *+22%* | 1117 | Cash flow from operations excluding working capital (CFFO) | 1405 | 2408 | *-42%* |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) This market indicator for European refining, calculated based on public market prices ($/t), uses a basket of crudes, petroleum product yields and variable costs representative of the European refining system of TotalEnergies. Does not include oil trading activities.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Detail of adjustment items shown in the business segment information starting on page 39.

In the second quarter of 2025, Refining & Chemicals:

● adjusted net operating income was $389 million, up 29% quarter-to-quarter, reflecting a slightly better level of refining margins and utilization rate,

● cash flow from operating activities was $887 million, and

● cash flow from operations excluding working capital (CFFO) was $772 million, up 22% quarter-to-quarter for the same reasons stated above.

#### B.6 Marketing & Services
1. Petroleum product sales

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Sales in kb/d\***<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 1324 | 1266 | *+5%* | 1363 | Total Marketing & Services sales | 1295 | 1338 | *-3%* |
| 790 | 714 | *+11%* | 773 | &nbsp;&nbsp;&nbsp;Europe | 753 | 744 | *+1%* |
| 534 | 551 | *-3%* | 591 | &nbsp;&nbsp;&nbsp;Rest of world | 543 | 594 | *-9%* |

---

\* Excludes trading and bulk refining sales.

Sales of petroleum products were up 5% quarter-to-quarter due to the seasonality of transport markets in Europe.

2. Results

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 412 | 240 | *+72%* | 379 | Adjusted net operating income <sup>(1)</sup> | 652 | 634 | *+3%* |
| 196 | 75 | *x2.6* | 337 | Cash flow used in investing activities  | 271 | (800) | *ns* |
| 199 | 150 | *+33%* | 186 | Organic investments | 349 | 287 | *+22%* |
| (3) | (75) | *ns* | 151 | Acquisitions net of assets sales | (78) | (1087) | *ns* |
| 196 | 75 | *x2.6* | 337 | Net investments | 271 | (800) | *ns* |
| 628 | 568 | *+11%* | 1650 | Cash flow from operating activities | 1196 | 1542 | *-22%* |
| 711 | 484 | *+47%* | 659 | Cash flow from operations excluding working capital (CFFO) | 1195 | 1138 | *+5%* |

---

(1)Detail of adjustment items shown in the business segment information starting on page 39.

In the second quarter of 2025, Marketing & Services:

● adjusted net operating income was $412 million, up 72% quarter-on-quarter benefiting from a seasonal effect and the increase of unit margins,

● cash flow from operating activities was $628 million, up 11% quarter-to-quarter, and

● ca sh flow from operations excluding working capital (CFFO) was $711 million, up 47% quarter-to-quarter for the same reasons stated above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**C.** **TOTALENERGIES RESULTS**

1. Net income (TotalEnergies share)

Net income (TotalEnergies share) was $2,687 million in the second quarter of 2025 compared to $3,851 million in the first quarter of 2025 and $3,787 in the second quarter of 2024.

Adjusted net income (TotalEnergies share) was $3,578 million in the second quarter of 2025 compared to $4,192 million in the first quarter of 2025, primarily due to lower oil and gas prices.

Adjusted net income excludes the after-tax inventory effect, special items and the impact of changes in fair value.

Adjustments to net income were ($0.9) billion in the second quarter of 2025, consisting mainly of:

● ($0.6) billion of changes in fair value and stock variation,

● ($0.2) billion of exceptional provisions and depreciations, mainly linked to the Antwerp platform reconfiguration for the Refining & Chemicals business.

2. Fully-diluted shares and share buybacks

As of June 30, 2025, the number of diluted shares was 2,220 million.

TotalEnergies repurchased<sup>1</sup>:

● 28.5 million shares in the second quarter of 2025 for $1.7 billion,

● 62.3 million shares in the first half of 2025 for $3.7 billion.

3. Acquisitions - asset sales

Acquisitions were:

● $2,106 million in the second quarter of 2025, notably related to the finalization of the VSB acquisition and the acquisition of a renewable asset portfolio in the Dominican Republic, and

● $2,942 million in the first half of 2025, notably related to the above items, as well as the acquisitions of an additional 10% interest in the Moho field in Congo, of SN Power and of renewable projects in Canada.

Divestments were:

● $293 million in the second quarter of 2025, notably related to the sale of 50% of a renewable asset portfolio in Portugal, and

● $709 million in the first half of 2025, notably related to the above items, as well as the divestment of interests in the Nkossa and Nsoko II permits in Congo and fuel distribution activities in Brazil.

4. Cash flow

TotalEnergies' cash flow from operating activities was $5,960 million in the second quarter of 2025 compared to a cash flow from operations excluding working capital (CFFO)<sup>2</sup> of $6,618 million in the second quarter of 2025, and was impacted by a $0.5 billion increase in working capital requirements, mainly due to the unfavorable effect of declining prices on tax liabilities and the payment during the quarter for the capital gain tax from divesting the German distribution networks to Alimentation Couche-Tard. This was partially offset by the seasonal effect on gas and electricity supply activities in Europe.

The change in working capital was a decrease of $49 million in the second quarter of 2025 in accordance with IFRS. The difference of $707 million between IFRS and replacement cost method corresponds to the following adjustments: (i) the pre-tax inventory valuation effect of $272 million, (ii) plus the mark-to-market effect of Integrated LNG's and Integrated Power's contracts of $295 million, (iii) plus the capital gains from the renewable project sales of $86 million and (iv) plus the organic loan repayments from equity affiliates of $54 million.

The change in working capital, as determined using the replacement cost method excluding the mark-to-market effect of Integrated LNG and Integrated Power's contracts, including capital gain from renewable project sales and including organic loan repayment from equity affiliates, was an increase of $658 million in the second quarter of 2025, compared to an increase of $4,429 million in the first quarter of 2025.

TotalEnergies' net cash flow was ($14) million in the second quarter of 2025, down from $2,071 million in the previous quarter, due to a $374 million decrease in CFFO and a $1,711 million increase in net investments over the quarter, reaching $6,632 million.

<sup>1</sup> Including coverage of employees share grant plans.

<sup>2</sup> Cash flow from operations excluding working capital (CFFO) is a non-GAAP financial measure. Refer to the Glossary on page 25 for the definitions and further information on non-GAAP measures (alternative performance measures) and to pages 16 and following for reconciliation tables.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**D.** **PROFITABILITY**

Return on equity was 14.1% for the twelve months ended June 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
| <br>**In millions of dollars** | **July 1, 2024**<br>**June 30, 2025** | **April 1, 2024**<br>**March 31, 2025** | **July 1, 2023**<br>**June 30, 2024** |
| Adjusted net income (TotalEnergies share) | 16535 | 17636 | 21769 |
| Average adjusted shareholders' equity | 117441 | 116758 | 116286 |
| Return on equity (ROE) | **14.1%** | **15.1%** | **18.7%** |

---

Return on average capital employed (ROACE)<sup>3</sup> was 12.4% for the twelve months ended June 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
| <br>**In millions of dollars** | **July 1, 2024**<br>**June 30, 2025** | **April 1, 2024**<br>**March 31, 2025** | **July 1, 2023**<br>**June 30, 2024** |
| Adjusted net operating income | 18184 | 19125 | 23030 |
| Average capital employed | 146456 | 144629 | 138776 |
| ROACE | **12.4%** | **13.2%** | **16.6%** |

---

**E.** **Annual 2025 Sensitivities\***

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Change**<br>| **Estimated impact**<br>**on adjusted net**<br>**operating income** | **Estimated impact**<br>**on cash flow**<br>**from operations** |
| Dollar | +/- 0.1 $ per € | -/+ 0.1 B$ | ~0 B$ |
| Average liquids price\*\* | +/- 10$/b | +/- 2.3 B$ | +/- 2.8 B$ |
| European gas price – TTF | +/- 2 $/Mbtu | +/- 0.4 B$ | +/- 0.4 B$ |
| European Refining Margin Marker (ERM) | +/- 10 $/t | +/- 0.4 B$ | +/- 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 2025. 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 an 70-80 $/b Brent environment.

**F.** **SUMMARY AND OUTLOOK**

In an unstable geopolitical and macroeconomic environment (tariff war), oil markets remain volatile with prices fluctuating between $60 and $70/b. The market is facing an abundant supply that is fueled by OPEC+'s decision to unwind some voluntary production cuts and weak demand that is linked to the slowdown in global economic growth.

Refining and petrochemical margins are similarly facing structural overcapacity given persistently weak demand. However, due to traditionally stronger summer demand (driving season), refining margins are above $50/ton at the start of the third quarter of 2025.

Forward European gas prices are expected to remain sustained around $12/Mbtu for the third quarter of 2025 and winter 2025/26 due to European stock replenishment. Given the evolution of oil and gas prices in recent months and the lag effect on pricing formulas, TotalEnergies anticipates an average LNG selling price of $9 to $9.5/Mbtu for the third quarter of 2025.

Hydrocarbon production in the third quarter of 2025 is expected to increase by over 3% compared to the third quarter of 2024, which is in line with the Company's annual objective of over 3% production growth in 2025 compared to 2024.

Taking into account scheduled maintenance at Antwerp, Port Arthur and HTC, utilization rates should be around 80% to 85% in the third quarter.

The Company anticipates that net investments for the full year will be within the $17-17.5 billion guidance range given the disposal program planned for the second half of the year.

<sup>3</sup> ROACE is a non-GAAP financial measure. Refer to the Glossary on page 25 for the definitions and further information on Non-GAAP measures (alternative performance measures).

#### FORWARD-LOOKING STATEMENTS
*This document may contain forward-looking statements (including 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 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 "will", "should", "could", "would", "may", "likely", "might", "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, changes in the geopolitical environment, including the impact of tariffs and trade disputes, currency fluctuations, technological innovations, meteorological conditions and events, as well as socio-demographic, economic and political developments, changes in market conditions, loss of market share and changes in consumer preferences, or pandemics such as COVID-19. 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.*

*Readers are cautioned not to consider forward-looking statements as accurate, but as an expression of the Company's views only as of the date this document is published. TotalEnergies SE and its subsidiaries have no obligation, make no commitment and expressly disclaim any responsibility to investors or any stakeholder to update or revise, particularly as a result of new information or future events, any forward-looking information or statement, objectives or trends contained in this document. In addition, the Company has not verified, and is under no obligation to verify any third-party data contained in this document or used in the estimates and assumptions or, more generally, forward-looking statements published in this document.*

*For additional factors, you should read the information set forth under "Item 3. -3.1 Risk Factors", "Item 4. Information on the Company", "Item 5. Operating and Financial Review and Prospects" and "Item 11. Quantitative and Qualitative Disclosures about Market Risk" in TotalEnergies' Form 20-F for the year ended December 31, 2024.*

*Additionally, developments related to environmental and climate change-related issues in this document are based on various frameworks and the interests of various stakeholders which are subject to change and evolve independently of the Company. Moreover, the Company's disclosures on such issues, including climate-related disclosures, may include information that is not necessarily "material" under US securities laws for SEC reporting purposes or under applicable securities law.*

#### OPERATING INFORMATION BY SEGMENT

#### Company's production (Exploration & Production + Integrated LNG)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Combined liquids and gas** <br>**production by region (kboe/d)** | <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 522 | 571 | *-9%* | 561 | Europe | 547 | 566 | *-3%* |
| 424 | 424 | *-* | 449 | Africa | 424 | 456 | *-7%* |
| 850 | 849 | *-* | 825 | Middle East and North Africa | 849 | 820 | *+4%* |
| 436 | 424 | *+3%* | 358 | Americas | 430 | 355 | *+21%* |
| 271 | 290 | *-6%* | 248 | Asia-Pacific | 281 | 254 | *+10%* |
| 2503 | 2558 | *-2%* | 2441 | Total production | 2531 | 2451 | *+3%* |
| 374 | 390 | *-4%* | 359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;includes equity affiliates | 382 | 352 | *+8%* |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Liquids production by region (kb/d)**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 203 | 216 | *-6%* | 225 | Europe | 209 | 225 | *-7%* |
| 309 | 312 | *-1%* | 325 | Africa | 310 | 328 | *-5%* |
| 673 | 680 | *-1%* | 660 | Middle East and North Africa | 677 | 656 | *+3%* |
| 217 | 202 | *+8%* | 167 | Americas | 210 | 168 | *+24%* |
| 104 | 106 | *-2%* | 100 | Asia-Pacific | 105 | 103 | *+2%* |
| 1506 | 1516 | *-1%* | 1477 | Total production | 1511 | 1480 | *+2%* |
| 158 | 163 | *-3%* | 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;includes equity affiliates | 161 | 152 | *+6%* |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Gas production by region (Mcf/d)**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 1720 | 1920 | *-10%* | 1814 | Europe | 1819 | 1841 | *-1%* |
| 579 | 567 | *+2%* | 620 | Africa | 573 | 634 | *-10%* |
| 973 | 920 | *+6%* | 904 | Middle East and North Africa | 947 | 900 | *+5%* |
| 1214 | 1237 | *-2%* | 1061 | Americas | 1225 | 1032 | *+19%* |
| 909 | 1011 | *-10%* | 781 | Asia-Pacific | 960 | 808 | *+19%* |
| 5395 | 5655 | *-5%* | 5180 | Total production | 5524 | 5215 | *+6%* |
| 1173 | 1237 | *-5%* | 1127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;includes equity affiliates | 1205 | 1085 | *+11%* |

---

#### Downstream (Refining & Chemicals and Marketing & Services)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Petroleum product sales by region (kb/d)**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 1904 | 1677 | *+14%* | 1840 | Europe | 1790 | 1807 | *-1%* |
| 616 | 618 | *-* | 558 | Africa | 617 | 575 | *+7%* |
| 1057 | 1073 | *-2%* | 989 | Americas | 1065 | 1011 | *+5%* |
| 856 | 945 | *-9%* | 639 | Rest of world | 901 | 675 | *+33%* |
| 4432 | 4313 | *+3%* | 4026 | Total consolidated sales | 4373 | 4068 | *+7%* |
| 379 | 344 | *+10%* | 397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes bulk sales | 362 | 399 | *-9%* |
| 2729 | 2703 | *+1%* | 2266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes trading | 2716 | 2331 | *+16%* |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**Petrochemicals production\* (kt)**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| 832 | 984 | *-15%* | 900 | Europe | 1816 | 1890 | *-4%* |
| 750 | 694 | *+8%* | 756 | Americas | 1444 | 1401 | *+3%* |
| 709 | 745 | *-5%* | 702 | Middle East and Asia | 1454 | 1430 | *+2%* |

---

**\*** **Olefins, polymers.**

#### INTEGRATED POWER
**Net power production**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** |
|  |  | Onshore  | Offshore |  |  |  |  | Onshore  | Offshore  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net power production (TWh)** | Solar | Wind | Wind | Gas | Others | **Total** | Solar | Wind | Wind | Gas | Others | **Total** |
| France | 0.2 | 0.2 | – | 0.5 | 0.0 | **1.0** | 0.1 | 0.2 | – | 1.9 | 0.0 | **2.2** |
| &nbsp;&nbsp;&nbsp;Rest of Europe | 0.2 | 0.5 | 0.2 | 1.0 | 0.1 | **2.0** | 0.1 | 0.6 | 0.3 | 1.6 | 0.1 | **2.6** |
| &nbsp;&nbsp;&nbsp;Africa | 0.0 | – | – | – | 0.1 | **0.1** | 0.0 | – | – | – | 0.0 | **0.1** |
| &nbsp;&nbsp;&nbsp;Middle East | 0.3 | – | – | 0.3 | – | **0.5** | 0.2 | – | – | 0.2 | – | **0.4** |
| &nbsp;&nbsp;&nbsp;North America | 1.3 | 0.6 | – | 1.4 | – | **3.3** | 0.7 | 0.5 | – | 0.9 | – | **2.1** |
| &nbsp;&nbsp;&nbsp;South America | 0.1 | 0.9 | – | – | – | **1.0** | 0.2 | 0.8 | – | – | – | **0.9** |
| &nbsp;&nbsp;&nbsp;India | 2.5 | 0.6 | – | – | – | **3.1** | 2.2 | 0.3 | – | – | – | **2.5** |
| &nbsp;&nbsp;&nbsp;Asia-Pacific | 0.4 | 0.0 | 0.1 | – | – | **0.5** | 0.3 | 0.0 | 0.2 | – | – | **0.5** |
| &nbsp;&nbsp;&nbsp;**Total**  | **5.1** | **2.8** | **0.3** | **3.2** | **0.2** | **11.6** | **3.8** | **2.4** | **0.5** | **4.5** | **0.1** | **11.3** |

---

**Installed power generation net capacity**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** |
|  |  | Onshore  | Offshore |  |  |  |  | Onshore  | Offshore  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Installed power generation net capacity (GW)** <sup>(1)</sup> | Solar | Wind | Wind | Gas | Others | **Total** | Solar | Wind | Wind | Gas | Others | **Total** |
| France | 0.8 | 0.5 | – | 2.7 | 0.2 | **4.2** | 0.8 | 0.4 | – | 2.7 | 0.2 | **4.0** |
| &nbsp;&nbsp;&nbsp;Rest of Europe | 0.5 | 1.0 | 0.3 | 2.1 | 0.2 | **4.0** | 0.6 | 1.0 | 0.3 | 2.1 | 0.2 | **4.1** |
| &nbsp;&nbsp;&nbsp;Africa | 0.0 | – | – | – | 0.1 | **0.1** | 0.0 | – | – | – | 0.1 | **0.1** |
| &nbsp;&nbsp;&nbsp;Middle East | 0.5 | – | – | 0.3 | – | **0.8** | 0.4 | – | – | 0.3 | – | **0.8** |
| &nbsp;&nbsp;&nbsp;North America | 2.8 | 0.9 | – | 1.5 | 0.4 | **5.5** | 2.5 | 0.8 | – | 1.5 | 0.3 | **5.1** |
| &nbsp;&nbsp;&nbsp;South America | 0.4 | 1.0 | – | – | – | **1.4** | 0.4 | 0.9 | – | – | – | **1.3** |
| &nbsp;&nbsp;&nbsp;India | 6.0 | 0.6 | – | – | – | **6.6** | 5.5 | 0.6 | – | – | – | **6.1** |
| &nbsp;&nbsp;&nbsp;Asia-Pacific | 1.1 | 0.0 | 0.2 | – | – | **1.3** | 1.1 | 0.0 | 0.2 | – | – | **1.3** |
| &nbsp;&nbsp;&nbsp;**Total**  | **12.2** | **4.0** | **0.5** | **6.5** | **0.8** | **24.0** | **11.2** | **3.8** | **0.5** | **6.5** | **0.7** | **22.7** |

---

**Power generation gross capacity from renewables**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** |
|  |  | Onshore  | Offshore |  |  |  | Onshore  | Offshore  |  |  |
| &nbsp;&nbsp;&nbsp;**Installed power generation gross capacity from renewables (GW)** <sup>(1), (2)</sup> | Solar | Wind | Wind | Other | **Total** | Solar | Wind | Wind | Other | **Total** |
| &nbsp;&nbsp;&nbsp;France | 1.3 | 0.9 | 0.0 | 0.2 | **2.3** | 1.2 | 0.7 | – | 0.2 | **2.1** |
| &nbsp;&nbsp;&nbsp;Rest of Europe | 0.6 | 1.5 | 1.1 | 0.3 | **3.5** | 0.6 | 1.3 | 1.1 | 0.3 | **3.2** |
| &nbsp;&nbsp;&nbsp;Africa | 0.1 | 0.0 | 0.0 | 0.3 | **0.4** | 0.1 | – | – | 0.3 | **0.4** |
| &nbsp;&nbsp;&nbsp;Middle East | 1.3 | 0.0 | 0.0 | 0.0 | **1.3** | 1.2 | – | – | – | **1.2** |
| &nbsp;&nbsp;&nbsp;North America | 6.1 | 2.3 | 0.0 | 0.8 | **9.3** | 5.6 | 2.2 | – | 0.7 | **8.4** |
| &nbsp;&nbsp;&nbsp;South America | 0.4 | 1.5 | 0.0 | 0.0 | **1.9** | 0.4 | 1.4 | – | – | **1.8** |
| &nbsp;&nbsp;&nbsp;India | 8.5 | 0.6 | 0.0 | 0.0 | **9.2** | 7.7 | 0.6 | – | – | **8.4** |
| &nbsp;&nbsp;&nbsp;Asia-Pacific | 1.7 | 0.0 | 0.6 | 0.0 | **2.4** | 1.7 | 0.0 | 0.6 | 0.0 | **2.3** |
| &nbsp;&nbsp;&nbsp;**Total**  | **20.0** | **6.8** | **1.8** | **1.6** | **30.2** | **18.4** | **6.2** | **1.8** | **1.4** | **27.8** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** |
|  |  | Onshore  | Offshore |  |  |  | Onshore  | Offshore  |  |  |
| &nbsp;&nbsp;&nbsp;**Power generation gross capacity from renewables in construction (GW)** <sup>(1), (2)</sup> | Solar | Wind | Wind | Other | **Total** | Solar | Wind | Wind | Other | **Total** |
| &nbsp;&nbsp;&nbsp;France | 0.3 | 0.1 | 0.0 | 0.0 | **0.4** | 0.3 | 0.0 | 0.0 | 0.0 | **0.3** |
| &nbsp;&nbsp;&nbsp;Rest of Europe | 0.5 | 0.2 | 0.8 | 0.3 | **1.9** | 0.5 | 0.1 | 0.8 | 0.3 | **1.8** |
| &nbsp;&nbsp;&nbsp;Africa | 0.5 | 0.1 | 0.0 | 0.1 | **0.7** | 0.4 | 0.1 | – | 0.1 | **0.7** |
| &nbsp;&nbsp;&nbsp;Middle East | 1.7 | 0.2 | 0.0 | 0.0 | **2.0** | 1.5 | 0.2 | – | – | **1.7** |
| &nbsp;&nbsp;&nbsp;North America | 1.2 | 0.0 | 0.0 | 0.5 | **1.7** | 1.3 | 0.0 | – | 0.5 | **1.9** |
| &nbsp;&nbsp;&nbsp;South America | 0.9 | 0.4 | 0.0 | 0.2 | **1.4** | 0.4 | 0.5 | – | 0.2 | **1.1** |
| &nbsp;&nbsp;&nbsp;India | 1.6 | 0.0 | 0.0 | 0.0 | **1.6** | 2.2 | 0.0 | – | – | **2.2** |
| &nbsp;&nbsp;&nbsp;Asia-Pacific | 0.1 | 0.0 | 0.0 | 0.0 | **0.1** | 0.1 | – | – | – | **0.1** |
| &nbsp;&nbsp;&nbsp;**Total** | **6.7** | **1.1** | **0.8** | **1.2** | **9.8** | **6.7** | **1.1** | **0.8** | **1.2** | **9.9** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** | **1Q25** |
|  |  | Onshore | Offshore |  |  |  | Onshore | Offshore |  |  |
| &nbsp;&nbsp;&nbsp;**Power generation gross capacity from renewables in development (GW)** <sup>(1), (2)</sup> | Solar | Wind | Wind | Other | **Total** | Solar | Wind | Wind | Other | **Total** |
| &nbsp;&nbsp;&nbsp;France | 1.0 | 0.5 | 0.0 | 0.0 | **1.6** | 0.9 | 0.3 | – | 0.1 | **1.3** |
| &nbsp;&nbsp;&nbsp;Rest of Europe | 6.4 | 1.7 | 14.3 | 2.9 | **25.3** | 4.6 | 0.6 | 13.3 | 2.5 | **20.9** |
| &nbsp;&nbsp;&nbsp;Africa | 0.5 | 0.2 | 0.0 | 0.0 | **0.7** | 0.5 | 0.2 | – | – | **0.7** |
| &nbsp;&nbsp;&nbsp;Middle East | 0.6 | 0.0 | 0.0 | 0.0 | **0.6** | 0.8 | – | – | – | **0.8** |
| &nbsp;&nbsp;&nbsp;North America | 10.9 | 3.7 | 4.1 | 4.6 | **23.3** | 10.6 | 3.0 | 4.1 | 4.4 | **22.1** |
| &nbsp;&nbsp;&nbsp;South America | 1.2 | 1.4 | 0.0 | 0.0 | **2.6** | 1.7 | 1.4 | – | 0.0 | **3.1** |
| &nbsp;&nbsp;&nbsp;India | 2.0 | 0.1 | 0.0 | 0.0 | **2.1** | 2.3 | 0.1 | – | – | **2.4** |
| &nbsp;&nbsp;&nbsp;Asia-Pacific | 3.2 | 1.1 | 2.6 | 1.1 | **7.9** | 3.4 | 1.1 | 3.0 | 1.1 | **8.5** |
| &nbsp;&nbsp;&nbsp;**Total** | **25.8** | **8.6** | **21.0** | **8.6** | **64.1** | **24.8** | **6.6** | **20.4** | **8.1** | **59.8** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) End-of-period data.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Includes 19.25% of the gross capacities of Adani Green Energy Limited, 50% of Clearway Energy Group and 49% of Casa dos Ventos.

#### ADJUSTMENT ITEMS TO NET INCOME (TOTALENERGIES SHARE)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| **1Q25** | **2Q24** | &nbsp;&nbsp;&nbsp;**In millions of dollars** | **1H25** | **1H24** |
| **2687** | **3851** | **3787** | &nbsp;&nbsp;&nbsp;**Net income (TotalEnergies share)** | **6538** | **9508** |
| (340) | (108) | (274) | &nbsp;&nbsp;&nbsp;Special items affecting net income (TotalEnergies share) | (448) | 531 |
| – | – | (110) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain (loss) on asset sales | – | 1397 |
| – | – | (11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | – | (11) |
| (209) | – | – | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairments | (209) | (644) |
| (131) | (108) | (153) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (239) | (211) |
| (268) | (78) | (320) | &nbsp;&nbsp;&nbsp;After-tax inventory effect : FIFO vs. replacement cost | (346) | (196) |
| (283) | (155) | (291) | &nbsp;&nbsp;&nbsp;Effect of changes in fair value | (438) | (611) |
| **(891)** | **(341)** | **(885)** | &nbsp;&nbsp;&nbsp;**Total adjustments affecting net income** | **(1232)** | **(276)** |
| **3578** | **4192** | **4672** | &nbsp;&nbsp;&nbsp;**Adjusted net income (TotalEnergies share)** | **7770** | **9784** |

---

#### RECONCILIATION OF NET INCOME (TOTALENERGIES SHARE) TO ADJUSTED EBITDA

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>&nbsp;&nbsp;&nbsp;**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25** <br>**vs**<br>**1H24** |
| **2687** | **3851** | ***-30%*** | **3787** | &nbsp;&nbsp;&nbsp;**Net income (TotalEnergies share)** | **6538** | **9508** | ***-31%*** |
| 891 | 341 | *x2.6* | 885 | &nbsp;&nbsp;&nbsp;Less: adjustment items to net income (TotalEnergies share) | 1232 | 276 | *x4.5* |
| **3578** | **4192** | ***-15%*** | **4672** | &nbsp;&nbsp;&nbsp;**Adjusted net income (TotalEnergies share)** | **7770** | **9784** | ***-21%*** |
|  |  |  |  | &nbsp;&nbsp;&nbsp;Adjusted items |  |  |  |
| 60 | 70 | *-14%* | 67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Add: non-controlling interests | 130 | 167 | *-22%* |
| 2328 | 2705 | *-14%* | 2977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Add: income taxes | 5033 | 5968 | *-16%* |
| 3106 | 2998 | *+4%* | 2962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Add: depreciation, depletion and impairment of tangible assets and mineral interests | 6104 | 5904 | *+3%* |
| 96 | 83 | *+16%* | 87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Add: amortization and impairment of intangible assets | 179 | 179 | *-* |
| 816 | 725 | *+13%* | 725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Add: financial interest on debt | 1541 | 1433 | *+8%* |
| (294) | (269) | *ns* | (417) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: financial income and expense from cash & cash equivalents | (563) | (869) | *ns* |
| **9690** | **10504** | ***-8%*** | **11073** | &nbsp;&nbsp;&nbsp;**Adjusted EBITDA** | **20194** | **22566** | ***-11%*** |

---

#### RECONCILIATION OF REVENUES FROM SALES TO ADJUSTED EBITDA AND NET INCOME (TOTALENERGIES SHARE)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
|  |  |  |  | *Adjusted items* |  |  |  |
| 44676 | 47899 | *-7%* | 49183 | Revenues from sales | 92575 | 101066 | *-8%* |
| (28533) | (30563) | *ns* | (31314) | Purchases, net of inventory variation | (59096) | (64839) | *ns* |
| (7588) | (7542) | *ns* | (7664) | Other operating expenses | (15130) | (15244) | *ns* |
| (97) | (81) | *ns* | (97) | Exploration costs | (178) | (185) | *ns* |
| 544 | 247 | *x2.2* | 146 | Other income | 791 | 386 | *x2* |
| (233) | (216) | *ns* | (37) | Other expense, excluding amortization and impairment of intangible assets | (449) | (162) | *ns* |
| 422 | 294 | *+44%* | 433 | Other financial income | 716 | 715 | *-* |
| (203) | (249) | *ns* | (213) | Other financial expense | (452) | (428) | *ns* |
| 702 | 715 | *-2%* | 636 | Net income (loss) from equity affiliates | 1417 | 1257 | *+13%* |
| **9690** | **10504** | ***-8%*** | **11073** | **Adjusted EBITDA** | **20194** | **22566** | ***-11%*** |
|  |  |  |  | *Adjusted items* |  |  |  |
| (3106) | (2998) | *ns* | (2962) | &nbsp;&nbsp;&nbsp;Less: depreciation, depletion and impairment of tangible assets and mineral interests | (6104) | (5904) | *ns* |
| (96) | (83) | *ns* | (87) | &nbsp;&nbsp;&nbsp;Less: amortization of intangible assets | (179) | (179) | *ns* |
| (816) | (725) | *ns* | (725) | &nbsp;&nbsp;&nbsp;Less: financial interest on debt | (1541) | (1433) | *ns* |
| 294 | 269 | *+9%* | 417 | &nbsp;&nbsp;&nbsp;Add: financial income and expense from cash & cash equivalents | 563 | 869 | *-35%* |
| (2328) | (2705) | *ns* | (2977) | &nbsp;&nbsp;&nbsp;Less: income taxes | (5033) | (5968) | *ns* |
| (60) | (70) | *ns* | (67) | &nbsp;&nbsp;&nbsp;Less: non-controlling interests | (130) | (167) | *ns* |
| (891) | (341) | *ns* | (885) | Add: adjustment - TotalEnergies share | (1232) | (276) | *ns* |
| **2687** | **3851** | ***-30%*** | **3787** | **Net income (TotalEnergies share)** | **6538** | **9508** | ***-31%*** |

---

**INVESTMENTS – DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: (TOTALENERGIES SHARE)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **6689** | **4805** | ***+39%*** | **4558** | **Cash flow used in investing activities (a)** | **11494** | **8025** | ***+43%*** |
| - | - | *ns* | - | Other transactions with non-controlling interests (b) | - | - | *ns* |
| 54 | 6 | *x9* | (29) | Organic loan repayment from equity affiliates (c) | 60 | (26) | *ns* |
| (221) | - | *ns* | - | Change in debt from renewable projects financing (d) \* | (221) | - | *ns* |
| 90 | 108 | *-17%* | 97 | Capex linked to capitalized leasing contracts (e) | 198 | 200 | *-1%* |
| 20 | 2 | *x10* | 4 | Expenditures related to carbon credits (f) | 22 | 3 | *x7.3* |
| **6632** | **4921** | ***+35%*** | **4630** | **Net investments (a + b + c + d + e + f = g - i + h)** | **11553** | **8202** | ***+41%*** |
| 1813 | 420 | *x4.3* | 220 | of which acquisitions net of assets sales (g-i) | 2233 | (280) | *ns* |
| 2106 | 836 | *x2.5* | 544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions (g) | 2942 | 1618 | *+82%* |
| 293 | 416 | *-29%* | 324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales (i) | 709 | 1898 | *-63%* |
| 67 | - | *ns* | - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (partner share)  | 67 | - | *ns* |
| **4819** | **4501** | ***+7%*** | **4410** | **of which organic investments (h)** | **9320** | **8482** | ***+10%*** |
| 37 | 111 | *-66%* | 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized exploration | 148 | 247 | *-40%* |
| 425 | 568 | *-25%* | 589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in non-current loans | 993 | 1127 | *-12%* |
| (256) | (103) | *ns* | (178) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of non-current loans, excluding organic loan repayment from equity affiliates | (359) | (324) | *ns* |
| (154) | - | *ns* | - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (TotalEnergies share) | (154) | - | *ns* |

---

\* Change in debt from renewable projects (TotalEnergies share and partner share).

**INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: EXPLORATION & PRODUCTION**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **3106** | **2689** | **2548** | ***22%*** | **Cash flow used in investing activities (a)** | **5795** | **4536** | ***28%*** |
| - | - | - | *ns* | Other transactions with non-controlling interests (b) | - | - | *ns* |
| - | - | - | *ns* | Organic loan repayment from equity affiliates (c) | - | - | *ns* |
| - | - | - | *ns* | Change in debt from renewable projects financing (d) \* | - | - | *ns* |
| 89 | 109 | 90 | *-1%* | Capex linked to capitalized leasing contracts (e) | 198 | 180 | *10%* |
| 20 | 2 | 4 | *x5* | Expenditures related to carbon credits (f) | 22 | 3 | *x7.3* |
| **3215** | **2800** | **2642** | ***22%*** | **Net investments (a + b + c + d + e + f = g - i + h)** | **6015** | **4719** | ***27%*** |
| 162 | 116 | 57 | *x2.8* | of which acquisitions net of assets sales (g-i) | 278 | 93 | *x3* |
| 193 | 445 | 160 | *21%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions (g) | 638 | 487 | *31%* |
| 31 | 329 | 103 | *-70%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales (i) | 360 | 394 | *-9%* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (partner share)  | - | - | *ns* |
| **3053** | **2684** | **2585** | ***18%*** | **of which organic investments (h)** | **5737** | **4626** | ***24%*** |
| 30 | 109 | 88 | *-66%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized exploration | 139 | 225 | *-38%* |
| 42 | 82 | 67 | *-37%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in non-current loans | 124 | 109 | *14%* |
| (49) | (29) | (46) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of non-current loans, excluding organic loan repayment from equity affiliates | (78) | (61) | *ns* |
| **-** | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (TotalEnergies share) | - | - | *ns* |

---

\* Change in debt from renewable projects (TotalEnergies share and partner share).

**INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: INTEGRATED LNG**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **852** | **892** | **815** | ***5%*** | **Cash flow used in investing activities (a)** | **1744** | **1330** | ***31%*** |
| - | - | - | *ns* | Other transactions with non-controlling interests (b) | - | - | *ns* |
| - | 1 | - | *ns* | Organic loan repayment from equity affiliates (c) | 1 | 1 | *-* |
| - | - | - | *ns* | Change in debt from renewable projects financing (d) \* | - | - | *ns* |
| 1 | (1) | 7 | *-86%* | Capex linked to capitalized leasing contracts (e) | - | 19 | *-100%* |
| - | - | - | *ns* | Expenditures related to carbon credits (f) | - | - | *ns* |
| **853** | **892** | **822** | ***4%*** | **Net investments (a + b + c + d + e + f = g - i + h)** | **1745** | **1350** | ***29%*** |
| 110 | 140 | 198 | *-44%* | of which acquisitions net of assets sales (g-i) | 250 | 186 | *34%* |
| 110 | 144 | 199 | *-45%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions (g) | 254 | 199 | *28%* |
| - | 4 | 1 | *-100%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales (i) | 4 | 13 | *-69%* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (partner share) | - | - | *ns* |
| **743** | **752** | **624** | ***19%*** | **of which organic investments (h)** | **1495** | **1164** | ***28%*** |
| 7 | 2 | 13 | *-46%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized exploration | 9 | 22 | *-59%* |
| 187 | 182 | 153 | *22%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in non-current loans | 369 | 326 | *13%* |
| (25) | (5) | (42) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of non-current loans, excluding organic loan repayment from equity affiliates | (30) | (79) | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (TotalEnergies share) | - | - | *ns* |

---

\* Change in debt from renewable projects (TotalEnergies share and partner share).

**INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: INTEGRATED POWER**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **2156** | **878** | **508** | ***x4.2*** | **Cash flow used in investing activities (a)** | **3034** | **2185** | ***39%*** |
| - | - | - | *ns* | Other transactions with non-controlling interests (b) | - | - | *ns* |
| 54 | 5 | - | *ns* | Organic loan repayment from equity affiliates (c) | 59 | - | *ns* |
| (221) | - | - | *ns* | Change in debt from renewable projects financing (d) \* | (221) | - | *ns* |
| - | - | - | *ns* | Capex linked to capitalized leasing contracts (e) | - | 1 | *-100%* |
| - | - | - | *ns* | Expenditures related to carbon credits (f) | - | - | *ns* |
| **1989** | **883** | **508** | ***x3.9*** | **Net investments (a + b + c + d + e + f = g - i + h)** | **2872** | **2186** | ***31%*** |
| 1568 | 238 | (88) | *ns* | of which acquisitions net of assets sales (g-i) | 1806 | 647 | *x2.8* |
| 1791 | 245 | 142 | *x12.6* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions (g) | 2036 | 878 | *x2.3* |
| 223 | 7 | 230 | *-3%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales (i) | 230 | 231 |  |
| 67 | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (partner share) | 67 | - | *ns* |
| **421** | **645** | **596** | ***-29%*** | **of which organic investments (h)** | **1066** | **1539** | ***-31%*** |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized exploration | - | - | *ns* |
| 150 | 268 | 239 | *-37%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in non-current loans | 418 | 544 | *-23%* |
| (137) | (46) | (31) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of non-current loans, excluding organic loan repayment from equity affiliates | (183) | (92) | *ns* |
| (154) | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (TotalEnergies share) | (154) | - | *ns* |

---

\* Change in debt from renewable projects (TotalEnergies share and partner share).

**INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: REFINING & CHEMICALS**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **309** | **236** | **316** | ***-2%*** | **Cash flow used in investing activities (a)** | **545** | **713** | ***-24%*** |
| - | - | - | *ns* | Other transactions with non-controlling interests (b) | - | - | *ns* |
| - | - | (29) | *-100%* | Organic loan repayment from equity affiliates (c) | - | (27) | *-100%* |
| - | - | - | *ns* | Change in debt from renewable projects financing (d) \* | - | - | *ns* |
| - | - | - | *ns* | Capex linked to capitalized leasing contracts (e) | - | - | *ns* |
| - | - | - | *ns* | Expenditures related to carbon credits (f) | - | - | *ns* |
| **309** | **236** | **287** | ***8%*** | **Net investments (a + b + c + d + e + f = g - i + h)** | **545** | **686** | ***-21%*** |
| (24) | - | (95) | *ns* | of which acquisitions net of assets sales (g-i) | (24) | (115) | *ns* |
| 11 | - | 26 | *-58%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions (g) | 11 | 35 | *-69%* |
| 35 | - | 121 | *-71%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales (i) | 35 | 150 | *-77%* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (partner share)  | - | - | *ns* |
| **333** | **236** | **382** | ***-13%*** | **of which organic investments (h)** | **569** | **801** | ***-29%*** |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized exploration | - | - | *ns* |
| 17 | 10 | 58 | *-71%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in non-current loans | 27 | 65 | *-58%* |
| (7) | (6) | (3) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of non-current loans, excluding organic loan repayment from equity affiliates | (13) | (10) | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (TotalEnergies share) | - | - | *ns* |

---

\* Change in debt from renewable projects (TotalEnergies share and partner share).

**INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: MARKETING & SERVICES**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **196** | **75** | **337** | ***-42%*** | **Cash flow used in investing activities (a)** | **271** | **(800)** | ***ns*** |
| - | - | - | *ns* | Other transactions with non-controlling interests (b) | - | - | *ns* |
| - | - | - | *ns* | Organic loan repayment from equity affiliates (c) | - | - | *ns* |
| - | - | - | *ns* | Change in debt from renewable projects financing (d) \* | - | - | *ns* |
| - | - | - | *ns* | Capex linked to capitalized leasing contracts (e) | - | - | *ns* |
| - | - | - | *ns* | Expenditures related to carbon credits (f) | - | - | *ns* |
| **196** | **75** | **337** | ***-42%*** | **Net investments (a + b + c + d + e + f = g - i + h)** | **271** | **(800)** | ***ns*** |
| (3) | (75) | 151 | *ns* | of which acquisitions net of assets sales (g-i) | (78) | (1087) | *ns* |
| 1 | 2 | 17 | *-94%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions (g) | 3 | 19 | *-84%* |
| 4 | 77 | (134) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales (i) | 81 | 1106 | *-93%* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (partner share)  | - | - | *ns* |
| **199** | **150** | **186** | ***7%*** | **of which organic investments (h)** | **349** | **287** | ***22%*** |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized exploration | - | - | *ns* |
| 26 | 18 | 57 | *-54%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in non-current loans | 44 | 68 | *-35%* |
| (22) | (17) | (53) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of non-current loans, excluding organic loan repayment from equity affiliates | (39) | (79) | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in debt from renewable projects (TotalEnergies share) | - | - | *ns* |

---

\* Change in debt from renewable projects (TotalEnergies share and partner share).

#### CASH FLOW (TOTALENERGIES SHARE)

#### Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO), to DACF and to Net cash flow

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| **2Q25**<br>**vs**<br>**1Q25** | <br>**2Q24**<br>| <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **5960** | **2563** | ***x2.3*** | **9007** | **Cash flow from operating activities (a)** | **8523** | **11176** | ***-24%*** |
| (246) | (4316) | *ns* | 1669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in working capital (b) \* | (4562) | (4452) | *ns* |
| (272) | (107) | *ns* | (468) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory effect (c) | (379) | (343) | *ns* |
| 86 | - | *ns* | - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain from renewable project sales (d) | 86 | - | *ns* |
| 54 | 6 | *x9* | (29) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organic loan repayments from equity affiliates (e) | 60 | (26) | *ns* |
| **6618** | **6992** | ***-5%*** | **7777** | **Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)** | **13610** | **15945** | ***-15%*** |
| (325) | (284) | *ns* | (118) | Financial charges | (610) | (262) | *ns* |
| **6943** | **7276** | ***-5%*** | **7895** | **Debt Adjusted Cash Flow (DACF)** | **14220** | **16207** | ***-12%*** |
| 4819 | 4501 | *+7%* | 4410 | Organic investments (g) | 9320 | 8482 | *+10%* |
| **1799** | **2491** | ***-28%*** | **3367** | **Free cash flow after organic investments (f - g)** | **4290** | **7463** | ***-43%*** |
| 6632 | 4921 | *+35%* | 4630 | Net investments (h) | 11553 | 8202 | *+41%* |
| **(14)** | **2071** | ***ns*** | **3147** | **Net cash flow (f - h)** | **2057** | **7743** | ***-73%*** |

---

\* Changes in working capital are presented excluding the mark-to-market effect of Integrated LNG and Integrated Power segments' contracts.

#### CASH FLOW BY SEGMENT

#### Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Exploration & Production

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **3675** | **3266** | **4535** | ***-19%*** | **Cash flow from operating activities (a)** | **6941** | **8125** | ***-15%*** |
| (85) | (1025) | 182 | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in working capital (b) | (1110) | (706) | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory effect (c) | - | - | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain from renewable project sales (d) | - | - | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organic loan repayments from equity affiliates (e) | - | - | *ns* |
| **3760** | **4291** | **4353** | ***-14%*** | **Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)** | **8051** | **8831** | ***-9%*** |

---

#### Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Integrated LNG

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **539** | **1743** | **431** | ***25%*** | **Cash flow from operating activities (a)** | **2282** | **2141** | ***7%*** |
| (620) | 495 | (789) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in working capital (b) \* | (125) | (426) | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory effect (c) | - | - | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain from renewable project sales (d) | - | - | *ns* |
| - | 1 | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organic loan repayments from equity affiliates (e) | 1 | 1 |  |
| **1159** | **1249** | **1220** | ***-5%*** | **Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)** | **2408** | **2568** | ***-6%*** |

---

\*Changes in working capital are presented excluding the mark-to-market effect of Integrated LNG sectors' contracts.

#### Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Integrated Power

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **799** | **(399)** | **1647** | ***-51%*** | **Cash flow from operating activities (a)** | **400** | **1398** | ***-71%*** |
| 377 | (991) | 1024 | *-63%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in working capital (b) \* | (614) | 83 | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory effect (c) | - | - | *ns* |
| 86 | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain from renewable project sales (d) | 86 | - | *ns* |
| 54 | 5 | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organic loan repayments from equity affiliates (e)  | 59 | - | *ns* |
| **562** | **597** | **623** | ***-10%*** | **Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)** | **1159** | **1315** | ***-12%*** |

---

\*Changes in working capital are presented excluding the mark-to-market effect of Integrated Power sectors' contracts.

#### Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Refining & Chemicals

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **2Q25**<br>**vs**<br>**2Q24** | | | | **1H25**<br>**vs**<br>**1H24** |
| <br>**2Q25**<br>**887** | <br>**1Q25**<br>**(1983)** | <br>**2Q24**<br>**1541** | ***-42%*** | <br>&nbsp;&nbsp;&nbsp;**In millions of dollars**<br>**Cash flow from operating activities (a)** | <br>**1H25**<br>**(1096)** | <br>**1H24**<br>**(588)** | ***ns*** |
| 362 | (2543) | 788 | *-54%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in working capital (b) | (2181) | (2738) | *ns* |
| (247) | (73) | (393) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory effect (c) | (320) | (285) | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain from renewable project sales (d) | - | - | *ns* |
| - | - | (29) | *-100%* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organic loan repayments from equity affiliates (e) | - | (27) | *-100%* |
| **772** | **633** | **1117** | ***-31%*** | **Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)** | **1405** | **2408** | ***-42%*** |

---

#### Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Marketing & Services

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**2Q25**<br>| <br>**1Q25**<br>| <br>**2Q24**<br>| **2Q25**<br>**vs**<br>**2Q24** | <br>**In millions of dollars**<br>| <br>**1H25**<br>| <br>**1H24**<br>| **1H25**<br>**vs**<br>**1H24** |
| **628** | **568** | **1650** | ***-62%*** | **Cash flow from operating activities (a)** | **1196** | **1542** | ***-22%*** |
| (58) | 118 | 1066 | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in working capital (b) | 60 | 462 | *-87%* |
| (25) | (34) | (75) | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory effect (c) | (59) | (58) | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain from renewable project sales (d) | - | - | *ns* |
| - | - | - | *ns* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organic loan repayments from equity affiliates (e) | - | - | *ns* |
| **711** | **484** | **659** | ***8%*** | **Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)** | **1195** | **1138** | ***5%*** |

---

#### GEARING RATIO

---

| | | | |
|:---|:---|:---|:---|
| **In millions of dollars** | **06/30/2025** | **03/31/2025** | **06/30/2024** |
| Current borrowings \* | 12570 | 10983 | 9358 |
| Other current financial liabilities | 861 | 897 | 461 |
| Current financial assets \*<sup>,</sup> \*\* | (4872) | (5892) | (6425) |
| Net financial assets classified as held for sale \* | 41 | 41 | (61) |
| Non-current financial debt \* | 39161 | 37862 | 34726 |
| Non-current financial assets \* | (1410) | (953) | (1166) |
| Cash and cash equivalents | (20424) | (22837) | (23211) |
| **Net debt (a)** | **25927** | **20101** | **13682** |
| Shareholders' equity - TotalEnergies share | 116642 | 117956 | 117379 |
| Non-controlling interests | 2360 | 2465 | 2648 |
| **Shareholders' equity (b)** | **119002** | **120421** | **120027** |
| **Gearing = a / (a+b)** | **17.9%** | **14.3%** | **10.2%** |
| *Leases (c)* | *8907* | *8533* | *8012* |
| *Gearing including leases (a+c) / (a+b+c)* | *22.6%* | *19.2%* | *15.3%* |

---

\* Excludes leases receivables and leases debts.

\*\* Including initial margins held as part of the Company's activities on organized markets.

Gearing was 17.9% at the end of June 2025 due to the seasonal effect of working capital variation and pace of investment. Normalized gearing was 15% excluding these effects.

**RETURN ON AVERAGE CAPITAL EMPLOYED (ROACE)**

Twelve months ended June 30, 2025

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**In millions of dollars** | **Exploration &**<br>**Production** | **Integrated**<br>**LNG** | **Integrated**<br>**Power** | **Refining &**<br>**Chemicals** | **Marketing**<br>**& Services** | <br>**Company** |
| Adjusted net operating income | 9212 | 4830 | 2140 | 1249 | 1378 | 18184 |
| Capital employed at 06/30/2024 | 65809 | 38708 | 21861 | 8728 | 6954 | 140180 |
| Capital employed at 06/30/2025 | 67042 | 44300 | 27033 | 8827 | 7325 | 152732 |
| **ROACE** | **13.9%** | **11.6%** | **8.8%** | **14.2%** | **19.3%** | **12.4%** |

---

**PAYOUT**<sup>1</sup>

---

| | | | |
|:---|:---|:---|:---|
| **In millions of dollars** | **1H25** | **1H24** | **2024** |
| Dividend paid (parent company shareholders) | 3745 | 3756 | 7717 |
| Repayment of treasury shares excluding fees and taxes | 3726 | 4000 | 7970 |
| **Payout ratio** | **54%** | **45%** | **50%** |

---

<sup>1</sup> Payout is a non-GAAP financial measure. Refer to the Glossary on page 25 for the definitions and further information on Non-GAAP measures (alternative performance measures).

#### RECONCILIATION OF CAPITAL EMPLOYED (BALANCE SHEET) AND CALCULATION OF ROACE

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**In millions of dollars**<br>| **Exploration**<br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&** <br>**Services** | <br>**Corporate** | <br>**Inter-**<br>**Company** | <br>**Company** |
| Adjusted net operating income 2<sup>nd</sup> quarter 2025 | 1974 | 1041 | 574 | 389 | 412 | (245) | - | 4145 |
| Adjusted net operating income 1<sup>st</sup> quarter 2025 | 2451 | 1294 | 506 | 301 | 240 | (131) | - | 4661 |
| Adjusted net operating income 4<sup>th</sup> quarter 2024 | 2305 | 1432 | 575 | 318 | 362 | (173) | - | 4819 |
| Adjusted net operating income 3<sup>rd</sup> quarter 2024  | 2482 | 1063 | 485 | 241 | 364 | (76) | - | 4559 |
| **Adjusted net operating income (a)** | **9212** | **4830** | **2140** | **1249** | **1378** | **(625)** | **-** | **18184** |
| **Balance sheet as of June 30, 2025**  |  |  |  |  |  |  |  |  |
| Property plant and equipment intangible assets net | 85970 | 29063 | 17159 | 12746 | 7139 | 763 | - | 152840 |
| Investments & loans in equity affiliates | 4349 | 16955 | 10304 | 3963 | 1086 | - | - | 36657 |
| Other non-current assets | 3685 | 2210 | 1771 | 699 | 1089 | 329 | - | 9783 |
| *Inventories, net* | *1565* | *1027* | *574* | *10773* | *3336* | - | - | *17275* |
| *Accounts receivable, net* | *5841* | *6227* | *4554* | *20019* | *8369* | *1148* | *(24904)* | *21254* |
| *Other current assets* | *6848* | *8899* | *5206* | *2723* | *2955* | *5627* | *(8098)* | *24160* |
| *Accounts payable* | *(6884)* | *(7473)* | *(6333)* | *(32438)* | *(9932)* | *(1049)* | *24821* | *(39288)* |
| *Other creditors and accrued liabilities* | *(9785)* | *(8541)* | *(4484)* | *(5171)* | *(5385)* | *(9487)* | *8181* | *(34672)* |
| Working capital | (2415) | 139 | (483) | (4094) | (657) | (3761) | - | (11271) |
| Provisions and other non-current liabilities | (25111) | (4260) | (1719) | (3577) | (1222) | 874 | - | (35015) |
| Assets and liabilities classified as held for sale | 564 | 193 | 1 | - | 84 | - | - | 842 |
| **Capital Employed (Balance sheet)**  | **67042** | **44300** | **27033** | **9737** | **7519** | **(1795)** | **-** | **153836** |
| Less inventory valuation effect  | - | - | **-** | (910) | (194) | - | - | (1104) |
| **Capital Employed at replacement cost (b)**  | **67042** | **44300** | **27033** | **8827** | **7325** | **(1795)** | **-** | **152732** |
| **Balance sheet as of June 30, 2024** |  |  |  |  |  |  |  |  |
| Property plant and equipment intangible assets net | 84754 | 24936 | 14078 | 11987 | 6476 | 649 | - | 142880 |
| Investments & loans in equity affiliates | 3463 | 15294 | 8921 | 4122 | 1000 | - | - | 32800 |
| Other non-current assets | 3803 | 2424 | 1147 | 731 | 1224 | 214 | - | 9543 |
| *Inventories, net* | *1486* | *1495* | *577* | *12822* | *3809* | *-* | *-* | *20189* |
| *Accounts receivable, net* | *6432* | *5526* | *4766* | *20755* | *8940* | *1073* | *(26845)* | *20647* |
| *Other current assets* | *6497* | *7876* | *4797* | *2146* | *3141* | *7313* | *(11756)* | *20014* |
| *Accounts payable* | *(6984)* | *(6429)* | *(5653)* | *(33025)* | *(10387)* | *(775)* | *26804* | *(36449)* |
| *Other creditors and accrued liabilities* | *(8785)* | *(8614)* | *(4989)* | *(6082)* | *(5762)* | *(11007)* | *11797* | *(33442)* |
| Working capital | (1354) | (146) | (502) | (3384) | (259) | (3396) | - | (9041) |
| Provisions and other non-current liabilities | (24947) | (3800) | (1807) | (3467) | (1207) | 653 | - | (34575) |
| Assets and liabilities classified as held for sale | 90 | - | 24 | - | - | - | - | 114 |
| **Capital Employed (Balance sheet)**  | **65809** | **38708** | **21861** | **9989** | **7234** | **(1880)** | **-** | **141721** |
| Less inventory valuation effect  | - | - | - | (1261) | (280) | - | - | (1541) |
| **Capital Employed at replacement cost (c)**  | **65809** | **38708** | **21861** | **8728** | **6954** | **(1880)** | **-** | **140180** |
| **ROACE as a percentage (a/average(b+c))**  | **13.9%** | **11.6%** | **8.8%** | **14.2%** | **19.3%** |  |  | **12.4%** |

---

#### GLOSSARY
**Acquisitions net of assets sales** is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow used in investing activities. Acquisitions net of assets sales refer to acquisitions minus assets sales (including other operations with non-controlling interests). This indicator can be a valuable tool for decision makers, analysts and shareholders alike because it illustrates the allocation of cash flow used for growing the Company's asset base via external growth opportunities.

**Adjusted EBITDA** (Earnings Before Interest, Tax, Depreciation and Amortization) is a non-GAAP financial measure and its most directly comparable IFRS measure is Net Income. It refers to the adjusted earnings before depreciation, depletion and impairment of tangible and intangible assets and mineral interests, income tax expense and cost of net debt, i.e., all operating income and contribution of equity affiliates to net income. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to measure and compare the Company's profitability with utility companies (energy sector).

**Adjusted net income (TotalEnergies share)** is a non-GAAP financial measure and its most directly comparable IFRS measure is Net Income (TotalEnergies share). Adjusted Net Income (TotalEnergies share) refers to Net Income (TotalEnergies share) less adjustment items to Net Income (TotalEnergies share). Adjustment items are inventory valuation effect, effect of changes in fair value, and special items. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to evaluate the Company's operating results and to understand its operating trends by removing the impact of non-operational results and special items.

**Capital Employed** is a non-GAAP financial measure. They are calculated at replacement cost and refer to capital employed (balance sheet) less inventory valuations effect. Capital employed (balance sheet) refers to the sum of the following items: (i) Property, plant and equipment, intangible assets, net, (ii) Investments & loans in equity affiliates, (iii) Other non-current assets, (iv) Working capital which is the sum of: Inventories, net, Accounts receivable, net, other current assets, Accounts payable, Other creditors and accrued liabilities, (v) Provisions and other non-current liabilities and (vi) Assets and liabilities classified as held for sale. Capital Employed can be a valuable tool for decision makers, analysts and shareholders alike to provide insight on the amount of capital investment used by the Company or its business segments to operate. Capital Employed is used to calculate the Return on Average Capital Employed (ROACE).

**Cash Flow From Operations excluding working capital (CFFO)** is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Cash Flow From Operations excluding working capital is defined as cash flow from operating activities before changes in working capital at replacement cost, excluding the mark-to-market effect of Integrated LNG and Integrated Power contracts, including capital gain from renewable projects sales and including organic loan repayments from equity affiliates. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to help understand changes in cash flow from operating activities, excluding the impact of working capital changes across periods on a consistent basis and with the performance of peer companies in a manner that, when viewed in combination with the Company's results prepared in accordance with GAAP, provides a more complete understanding of the factors and trends affecting the Company's business and performance. This performance indicator is used by the Company as a base for its cash flow allocation and notably to guide on the share of its cash flow to be allocated to the distribution to shareholders.

**Debt adjusted cash flow (DACF)** is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. DACF is defined as Cash Flow From Operations excluding working capital (CFFO) without financial charges. This indicator can be a valuable tool for decision makers, analysts and shareholders alike because it corresponds to the funds theoretically available to the Company for investments, debt repayment and distribution to shareholders, and therefore facilitates comparison of the Company's results of operations with those of other registrants, independent of their capital structure and working capital requirements.

**ESRS perimeter**: the GHG emissions within the ESRS perimeter correspond to 100% of the emissions from operated sites, plus the equity share of emissions from non-operated and financially consolidated assets excluding equity affiliates.

**Free cash flow after Organic Investments** is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Free cash flow after Organic Investments, refers to Cash Flow From Operations excluding working capital minus Organic Investments. Organic Investments refer to Net Investments excluding acquisitions, asset sales and other transactions with non-controlling interests. This indicator can be a valuable tool for decision makers, analysts and shareholders alike because it illustrates operating cash flow generated by the business post allocation of cash for Organic Investments.

**Gearing** is a non-GAAP financial measure and its most directly comparable IFRS measure is the ratio of total financial liabilities to total equity. Gearing is a Net-debt-to-capital ratio, which is calculated as the ratio of Net debt excluding leases to (Equity + Net debt excluding leases). This indicator can be a valuable tool for decision makers, analysts and shareholders alike to assess the strength of the Company's balance sheet.

**Normalized Gearing is an** indicator defined as the gearing excluding the impact of seasonal variations, notably on working capital.

**Net cash flow** (or **free cash flow**) is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Net cash flow refers to Cash Flow From Operations excluding working capital minus Net Investments. Net cash flow can be a valuable tool for decision makers, analysts and shareholders alike because it illustrates cash flow generated by the operations of the Company post allocation of cash for Organic Investments and Acquisitions net of assets sales (acquisitions - assets sales - other operations with non-controlling interests). This performance indicator corresponds to the cash flow available to repay debt and allocate cash to shareholder distribution or share buybacks.

**Net investments** is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow used in investing activities. Net Investments refer to Cash flow used in investing activities including other transactions with non-controlling interests, including change in debt from renewable projects financing, including expenditures related to carbon credits, including capex linked to capitalized leasing contracts and excluding organic loan repayment from equity affiliates. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to illustrate the cash directed to growth opportunities, both internal and external, thereby showing, when combined with the Company's cash flow statement prepared under IFRS, how cash is generated and allocated for uses within the organization. Net Investments are the sum of Organic Investments and Acquisitions net of assets sales each of which is described in the Glossary.

**Organic investments** is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow used in investing activities. Organic investments refers to Net Investments, excluding acquisitions, asset sales and other operations with non-controlling interests. Organic Investments can be a valuable tool for decision makers, analysts and shareholders alike because it illustrates cash flow used by the Company to grow its asset base, excluding sources of external growth.

**Operated perimeter:** activities, sites and industrial assets of which TotalEnergies SE or one of its subsidiaries has operational control, i.e. has the responsibility of the conduct of operations on behalf of all its partners. For the operated perimeter, the environmental indicators are reported 100%, regardless of the Company's equity interest in the asset.

**Payout** is a non-GAAP financial measure. Payout is defined as the ratio of the dividends and share buybacks for cancellation to the Cash Flow From Operations excluding working capital. This indicator can be a valuable tool for decision makers, analysts and shareholders as it provides the portion of the Cash Flow From Operations excluding working capital distributed to the shareholder.

**Return on Average Capital Employed (ROACE)** is a non-GAAP financial measure. ROACE is the ratio of Adjusted Net Operating Income to average Capital Employed at replacement cost between the beginning and the end of the period. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to measure the profitability of the Company's average Capital Employed in its business operations and is used by the Company to benchmark its performance internally and externally with its peers.

#### CONSOLIDATED STATEMENT OF INCOME

#### TotalEnergies
*(unaudited)*

---

| | | | |
|:---|:---|:---|:---|
| <br>**(M$)**<sup>(a)</sup> | **2**<sup>nd</sup> **quarter**<br>**2025** | **1**<sup>st</sup> **quarter**<br>**2025** | **2**<sup>nd</sup> **quarter**<br>**2024** |
| **Sales** | **49627** | **52254** | **53743** |
| Excise taxes | (4951) | (4355) | (4560) |
| &nbsp;&nbsp;Revenues from sales | 44676 | 47899 | 49183 |
| Purchases, net of inventory variation | (29158) | (30855) | (32117) |
| Other operating expenses | (7834) | (7564) | (7729) |
| Exploration costs | (97) | (81) | (97) |
| Depreciation, depletion and impairment of tangible assets and mineral interests | (3258) | (2998) | (2976) |
| Other income | 544 | 247 | 3 |
| Other expense | (287) | (291) | (251) |
| Financial interest on debt | (816) | (725) | (725) |
| Financial income and expense from cash & cash equivalents | 327 | 290 | 408 |
| &nbsp;&nbsp;Cost of net debt | (489) | (435) | (317) |
| Other financial income | 429 | 318 | 459 |
| Other financial expense | (203) | (249) | (213) |
| Net income (loss) from equity affiliates | 529 | 663 | 627 |
| Income taxes | (2106) | (2733) | (2725) |
| **Consolidated net income** | **2746** | **3921** | **3847** |
| TotalEnergies share | 2687 | 3851 | 3787 |
| Non-controlling interests | 59 | 70 | 60 |
| Earnings per share ($) | 1.18 | 1.69 | 1.61 |
| Fully-diluted earnings per share ($) | 1.17 | 1.68 | 1.60 |

---

*(a) Except for per share amounts.*

#### CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

#### TotalEnergies
*(unaudited)*

---

| | | | |
|:---|:---|:---|:---|
| <br>**(M$)** | **2**<sup>nd</sup> **quarter**<br>**2025** | **1**<sup>st</sup> **quarter**<br>**2025** | **2**<sup>nd</sup> **quarter**<br>**2024** |
| **Consolidated net income** | **2746** | **3921** | **3847** |
| **Other comprehensive income** |  |  |  |
| Actuarial gains and losses | 16 | - | 22 |
| Change in fair value of investments in equity instruments | 52 | 12 | 103 |
| Tax effect | (20) | 1 | (11) |
| Currency translation adjustment generated by the parent company | 5808 | 2882 | (683) |
| **Items not potentially reclassifiable to profit and loss** | **5856** | **2895** | **(569)** |
| Currency translation adjustment | (4692) | (2017) | 523 |
| Cash flow hedge | 165 | (833) | 593 |
| Variation of foreign currency basis spread | 4 | 15 | - |
| Share of other comprehensive income of equity affiliates, net amount | (174) | (100) | (38) |
| Other | – | 7 | (2) |
| Tax effect | (49) | 205 | (153) |
| **Items potentially reclassifiable to profit and loss** | **(4746)** | **(2723)** | **923** |
| **Total other comprehensive income (net amount)** | **1110** | **172** | **354** |
| **Comprehensive income** | **3856** | **4093** | **4201** |
| *TotalEnergies share* | *3752* | *4007* | *4134* |
| *Non-controlling interests* | *104* | *86* | *67* |

---

#### CONSOLIDATED STATEMENT OF INCOME

#### TotalEnergies
*(unaudited)*

---

| | | |
|:---|:---|:---|
| <br>**(M$)**<sup>(a)</sup> | **1**<sup>st</sup> **half**<br>**2025** | **1**<sup>st</sup> **half**<br>**2024** |
| **Sales** | **101881** | **110021** |
| Excise taxes | (9306) | (8955) |
| &nbsp;&nbsp;Revenues from sales | 92575 | 101066 |
| Purchases, net of inventory variation | (60013) | (65897) |
| Other operating expenses | (15398) | (15372) |
| Exploration costs | (178) | (185) |
| Depreciation, depletion and impairment of tangible assets and mineral interests | (6256) | (5918) |
| Other income | 791 | 1761 |
| Other expense | (578) | (566) |
| Financial interest on debt | (1541) | (1433) |
| Financial income and expense from cash & cash equivalents | 617 | 880 |
| &nbsp;&nbsp;Cost of net debt | (924) | (553) |
| Other financial income | 747 | 765 |
| Other financial expense | (452) | (428) |
| Net income (loss) from equity affiliates | 1192 | 645 |
| Income taxes | (4839) | (5667) |
| **Consolidated net income** | **6667** | **9651** |
| TotalEnergies share | 6538 | 9508 |
| Non-controlling interests | 129 | 143 |
| Earnings per share ($) | 2.88 | 4.04 |
| Fully-diluted earnings per share ($) | 2.85 | 4.02 |

---

*(a) Except for per share amounts.*

#### CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

#### TotalEnergies
*(unaudited)*

---

| | | |
|:---|:---|:---|
| <br>**(M$)** | **1**<sup>st</sup> **half**<br>**2025** | **1**<sup>st</sup> **half**<br>**2024** |
| **Consolidated net income** | **6667** | **9651** |
| **Other comprehensive income** |  |  |
| Actuarial gains and losses | 16 | 20 |
| Change in fair value of investments in equity instruments | 64 | 143 |
| Tax effect | (19) | (19) |
| Currency translation adjustment generated by the parent company | 8690 | (2189) |
| **Items not potentially reclassifiable to profit and loss** | **8751** | **(2045)** |
| Currency translation adjustment | (6709) | 1622 |
| Cash flow hedge | (668) | 1400 |
| Variation of foreign currency basis spread | 19 | (15) |
| share of other comprehensive income of equity affiliates, net amount | (274) | (114) |
| Other | 7 | - |
| Tax effect | 156 | (372) |
| **Items potentially reclassifiable to profit and loss** | **(7469)** | **2521** |
| **Total other comprehensive income (net amount)** | **1282** | **476** |
| **Comprehensive income** | **7949** | **10127** |
| *TotalEnergies share* | *7759* | *10004* |
| *Non-controlling interests* | *190* | *123* |

---

#### CONSOLIDATED BALANCE SHEET

#### TotalEnergies

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **June 30,** | **March 31,** | **December 31,** | **June 30,** |
|  | **2025** | **2025** | **2024** | **2024** |
| (M$) | *(unaudited)* | *(unaudited)* |  | *(unaudited)* |
| **ASSETS** |  |  |  |  |
| **Non-current assets** |  |  |  |  |
| Intangible assets, net | 36687 | 34543 | 34238 | 33477 |
| Property, plant and equipment, net | 116153 | 112249 | 109095 | 109403 |
| Equity affiliates : investments and loans | 36657 | 35687 | 34405 | 32800 |
| Other investments | 2176 | 1860 | 1665 | 1740 |
| Non-current financial assets | 2691 | 2231 | 2305 | 2469 |
| Deferred income taxes | 3550 | 3360 | 3202 | 3568 |
| Other non-current assets | 4057 | 4000 | 4006 | 4235 |
| **Total non-current assets** | **201971** | **193930** | **188916** | **187692** |
| **Current assets** |  |  |  |  |
| Inventories, net | 17275 | 19037 | 18868 | 20189 |
| Accounts receivable, net | 21254 | 24882 | 19281 | 20647 |
| Other current assets | 24160 | 22423 | 23687 | 20014 |
| Current financial assets | 5183 | 6237 | 6914 | 6823 |
| Cash and cash equivalents | 20424 | 22837 | 25844 | 23211 |
| Assets classified as held for sale | 2550 | 1711 | 1977 | 912 |
| **Total current assets** | **90846** | **97127** | **96571** | **91796** |
| **Total assets** | **292817** | **291057** | **285487** | **279488** |
| **LIABILITIES & SHAREHOLDERS' EQUITY** |  |  |  |  |
| **Shareholders' equity** |  |  |  |  |
| Common shares | 7262 | 7231 | 7577 | 7577 |
| Paid-in surplus and retained earnings | 128103 | 128787 | 135496 | 130688 |
| Currency translation adjustment | (13564) | (14508) | (15259) | (14415) |
| Treasury shares | (5159) | (3554) | (9956) | (6471) |
| **Total shareholders' equity - TotalEnergies share** | **116642** | **117956** | **117858** | **117379** |
| **Non-controlling interests** | **2360** | **2465** | **2397** | **2648** |
| **Total shareholders' equity** | **119002** | **120421** | **120255** | **120027** |
| **Non-current liabilities** |  |  |  |  |
| Deferred income taxes | 12729 | 12621 | 12114 | 12461 |
| Employee benefits | 1974 | 1824 | 1753 | 1819 |
| Provisions and other non-current liabilities | 20312 | 19872 | 19872 | 20295 |
| Non-current financial debt | 47584 | 45858 | 43533 | 42526 |
| **Total non-current liabilities** | **82599** | **80175** | **77272** | **77101** |
| **Current liabilities** |  |  |  |  |
| Accounts payable | 39288 | 42554 | 39932 | 36449 |
| Other creditors and accrued liabilities | 34672 | 32505 | 35961 | 33442 |
| Current borrowings | 14637 | 13134 | 10024 | 11271 |
| Other current financial liabilities | 861 | 897 | 664 | 461 |
| Liabilities directly associated with the assets classified as held for sale | 1758 | 1371 | 1379 | 737 |
| **Total current liabilities** | **91216** | **90461** | **87960** | **82360** |
| **Total liabilities & shareholders' equity** | **292817** | **291057** | **285487** | **279488** |

---

#### CONSOLIDATED STATEMENT OF CASH FLOW

#### TotalEnergies
*(unaudited)*

---

| | | | |
|:---|:---|:---|:---|
| <br>**(M$)** | **2**<sup>nd</sup> **quarter**<br>**2025** | **1**<sup>st</sup> **quarter**<br>**2025** | **2**<sup>nd</sup> **quarter**<br>**2024** |
| **CASH FLOW FROM OPERATING ACTIVITIES** |  |  |  |
| Consolidated net income | 2746 | 3921 | 3847 |
| Depreciation, depletion, amortization and impairment | 3360 | 3086 | 3080 |
| Non-current liabilities, valuation allowances and deferred taxes | 127 | 209 | (53) |
| (Gains) losses on disposals of assets | (335) | 25 | 182 |
| Undistributed affiliates' equity earnings | (102) | (423) | (250) |
| (Increase) decrease in working capital | 49 | (4232) | 2013 |
| Other changes, net | 115 | (23) | 188 |
| **Cash flow from operating activities** | **5960** | **2563** | **9007** |
| **CASH FLOW USED IN INVESTING ACTIVITIES** |  |  |  |
| Intangible assets and property, plant and equipment additions | (4766) | (4222) | (3699) |
| Acquisitions of subsidiaries, net of cash acquired | (1627) | (232) | (251) |
| Investments in equity affiliates and other securities | (419) | (311) | (481) |
| Increase in non-current loans | (425) | (568) | (621) |
| **Total expenditures** | **(7237)** | **(5333)** | **(5052)** |
| Proceeds from disposals of intangible assets and property, plant and equipment | 69 | 301 | 44 |
| Proceeds from disposals of subsidiaries, net of cash sold | 154 | 117 | 213 |
| Proceeds from disposals of non-current investments | 15 | 1 | 56 |
| Repayment of non-current loans | 310 | 109 | 181 |
| **Total divestments** | **548** | **528** | **494** |
| **Cash flow used in investing activities** | **(6689)** | **(4805)** | **(4558)** |
| **CASH FLOW FROM FINANCING ACTIVITIES** |  |  |  |
| Issuance (repayment) of shares: |  |  |  |
| &nbsp;&nbsp;- Parent company shareholders | 492 | - | 521 |
| &nbsp;&nbsp;- Treasury shares | (1707) | (2152) | (2007) |
| Dividends paid: |  |  |  |
| &nbsp;&nbsp;- Parent company shareholders | (1894) | (1851) | (1853) |
| &nbsp;&nbsp;- Non-controlling interests | (173) | (139) | (127) |
| Net issuance (repayment) of perpetual subordinated notes | - | (1139) | (1622) |
| Payments on perpetual subordinated notes | (27) | (128) | (50) |
| Other transactions with non-controlling interests | (31) | (20) | (19) |
| Net issuance (repayment) of non-current debt | 257 | 3431 | 4319 |
| Increase (decrease) in current borrowings | (356) | 150 | (5453) |
| Increase (decrease) in current financial assets and liabilities | 1287 | 718 | (530) |
| **Cash flow from / (used in) financing activities** | **(2152)** | **(1130)** | **(6821)** |
| **Net increase (decrease) in cash and cash equivalents** | **(2881)** | **(3372)** | **(2372)** |
| Effect of exchange rates | 468 | 365 | (57) |
| Cash and cash equivalents at the beginning of the period | 22837 | 25844 | 25640 |
| **Cash and cash equivalents at the end of the period** | **20424** | **22837** | **23211** |

---

#### CONSOLIDATED STATEMENT OF CASH FLOW

#### TotalEnergies
*(unaudited)*

---

| | | |
|:---|:---|:---|
| <br>**(M$)** | **1**<sup>st</sup> **half**<br>**2025** | **1**<sup>st</sup> **half**<br>**2024** |
| **CASH FLOW FROM OPERATING ACTIVITIES** |  |  |
| Consolidated net income | 6667 | 9651 |
| Depreciation, depletion, amortization and impairment | 6446 | 6116 |
| Non-current liabilities, valuation allowances and deferred taxes | 336 | 239 |
| (Gains) losses on disposals of assets | (310) | (1428) |
| Undistributed affiliates' equity earnings | (525) | 38 |
| (Increase) decrease in working capital | (4183) | (3673) |
| Other changes, net | 92 | 233 |
| **Cash flow from operating activities** | **8523** | **11176** |
| **CASH FLOW USED IN INVESTING ACTIVITIES** |  |  |
| Intangible assets and property, plant and equipment additions | (8988) | (7119) |
| Acquisitions of subsidiaries, net of cash acquired | (1859) | (1010) |
| Investments in equity affiliates and other securities | (730) | (969) |
| Increase in non-current loans | (993) | (1159) |
| **Total expenditures** | **(12570)** | **(10257)** |
| Proceeds from disposals of intangible assets and property, plant and equipment | 370 | 381 |
| Proceeds from disposals of subsidiaries, net of cash sold | 271 | 1431 |
| Proceeds from disposals of non-current investments | 16 | 90 |
| Repayment of non-current loans | 419 | 330 |
| **Total divestments** | **1076** | **2232** |
| **Cash flow used in investing activities** | **(11494)** | **(8025)** |
| **CASH FLOW FROM FINANCING ACTIVITIES** |  |  |
| Issuance (repayment) of shares: |  |  |
| &nbsp;&nbsp;- Parent company shareholders | 492 | 521 |
| &nbsp;&nbsp;- Treasury shares | (3859) | (4013) |
| Dividends paid: |  |  |
| &nbsp;&nbsp;- Parent company shareholders | (3745) | (3756) |
| &nbsp;&nbsp;- Non-controlling interests | (312) | (133) |
| Net issuance (repayment) of perpetual subordinated notes | (1139) | (1622) |
| Payments on perpetual subordinated notes | (155) | (209) |
| Other transactions with non-controlling interests | (51) | (36) |
| Net issuance (repayment) of non-current debt | 3688 | 4361 |
| Increase (decrease) in current borrowings | (206) | (1917) |
| Increase (decrease) in current financial assets and liabilities | 2005 | (259) |
| **Cash flow from / (used in) financing activities** | **(3282)** | **(7063)** |
| **Net increase (decrease) in cash and cash equivalents** | **(6253)** | **(3912)** |
| Effect of exchange rates | 833 | (140) |
| Cash and cash equivalents at the beginning of the period | 25844 | 27263 |
| **Cash and cash equivalents at the end of the period** | **20424** | **23211** |

---

#### CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
**TotalEnergies**

*(unaudited)*

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common shares issued** | **Common shares issued** | | | **Treasury shares** | **Treasury shares** | | | |
| <br>(M$) | **Number** | **Amount** | **Paid-in**<br>**surplus and**<br>**retained**<br>**earnings** | <br>**Currency**<br>**translation**<br>**adjustment** | **Number** | **Amount** | **Shareholders'**<br>**equity -**<br>**TotalEnergies**<br>**Share** | <br>**Non-**<br>**controlling**<br>**interests** | <br>**Total**<br>**shareholders'**<br>**equity** |
| **As of January 1, 2024** | **2412251835** | **7616** | **126857** | **(13701)** | **(60543213)**  | **(4019)** | **116753** | **2700** | **119453** |
| Net income of the first half 2024 | - | - | 9508 | - | - | - | 9508 | 143 | 9651 |
| Other comprehensive income | - | - | 1210 | (714) | - | - | 496 | (20) | 476 |
| **Comprehensive Income** | - | - | **10718** | **(714)** | - | - | **10004** | **123** | **10127** |
| Dividend | - | - | (3929) | - | - | - | (3929) | (133) | (4062) |
| Issuance of common shares | 10833187 | 29 | 492 | - | - | - | 521 | - | 521 |
| Purchase of treasury shares | - | - | - | - | (58719028) | (4513) | (4513) | - | (4513) |
| Sale of treasury shares<sup>(a)</sup> | - | - | (397) | - | 6065491 | 397 | - | - | - |
| Share-based payments | - | - | 356 | - | - | - | 356 | - | 356 |
| Share cancellation | (25405361) | (68) | (1596) | - | 25405361 | 1664 | - | - | - |
| Net issuance (repayment) of perpetual subordinated notes | - | - | (1679) | - | - | - | (1679) | - | (1679) |
| Payments on perpetual subordinated notes | - | - | (135) | - | - | - | (135) | - | (135) |
| Other operations with non-controlling interests | - | - | - | - | - | - | - | (36) | (36) |
| Other items | - | - | 1 | - | - | - | 1 | (6) | (5) |
| **As of June 30, 2024** | **2397679661**  | **7577** | **130688** | **(14415)** | **(87791389)**  | **(6471)** | **117379** | **2648** | **120027** |
| Net income of the second half 2024 | - | - | 6250 | - | - | - | 6250 | 130 | 6380 |
| Other comprehensive income | - | - | 1226 | (844) | - | - | 382 | (24) | 358 |
| **Comprehensive Income** | - | - | **7476** | **(844)** | - | - | **6632** | **106** | **6738** |
| Dividend | - | - | (3827) | - | - | - | (3827) | (322) | (4149) |
| Issuance of common shares | - | - | - | - | - | - | - | - | - |
| Purchase of treasury shares | - | - | - | - | (61744204) | (3482) | (3482) | - | (3482) |
| Sale of treasury shares<sup>(a)</sup> | - | - | 2 | - | 5775 | (2) | - | - | - |
| Share-based payments | - | - | 200 | - | - | - | 200 | - | 200 |
| Share cancellation | - | - | 1 | - | - | (1) | - | - | - |
| Net issuance (repayment) of perpetual subordinated notes | - | - | 1103 | - | - | - | 1103 | - | 1103 |
| Payments on perpetual subordinated notes | - | - | (137) | - | - | - | (137) | - | (137) |
| Other operations with non-controlling interests | - | - | - | - | - | - | – | (31) | (31) |
| Other items | - | - | (10) | - | - | - | (10) | (4) | (14) |
| **As of December 31, 2024** | **2397679661**  | **7577** | **135496** | **(15259)** | **(149529818)**  | **(9956)** | **117858** | **2397** | **120255** |
| Net income of the first half 2025 | - | - | 6538 | - | - | - | 6538 | 129 | 6667 |
| Other comprehensive income | - | - | (474) | 1695 | - | - | 1221 | 61 | 1282 |
| **Comprehensive Income** | - | - | **6064** | **1695** | - | - | **7759** | **190** | **7949** |
| Dividend | - | - | (4072) | - | - | - | (4072) | (178) | (4250) |
| Issuance of common shares | 11149053 | 30 | 462 | - | - | - | 492 | - | 492 |
| Purchase of treasury shares | - | - | - | - | (62261210) | (4239) | (4239) | - | (4239) |
| Sale of treasury shares<sup>(a)</sup> | - | - | (414) | - | 6214595 | 414 | - | - | - |
| Share-based payments | - | - | 340 | - | - | - | 340 | - | 340 |
| Share cancellation | (127622460) | (345) | (8397) | - | 127622460 | 8622 | (120) | - | (120) |
| Net issuance (repayment) of perpetual subordinated notes | - | - | (1219) | - | - | - | (1219) | - | (1219) |
| Payments on perpetual subordinated notes | - | - | (156) | - | - | - | (156) | - | (156) |
| Other operations with non-controlling interests | - | - | - | - | - | - | - | (51) | (51) |
| Other items | - | - | (1) | - | - | - | (1) | 2 | 1 |
| **As of June 30, 2025** | **2281206254**  | **7262** | **128103** | **(13564)** | **(77953973)**  | **(5159)** | **116642** | **2360** | **119002** |

---

<sup>(a)</sup>*Treasury shares related to the performance share grants.*

#### TotalEnergies

#### NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

#### FOR THE FIRST SIX MONTHS 2025
*(unaudited)*

------

#### 1) Basis of preparation of the consolidated financial statements
The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and IFRS as published by the International Accounting Standards Board (IASB).

The interim consolidated financial statements of TotalEnergies SE and its subsidiaries (the Company) as of June 30, 2025, are presented in U.S. dollars and have been prepared in accordance with International Accounting Standard (IAS) 34 "Interim Financial Reporting".

The accounting principles applied for the consolidated financial statements at June 30, 2025, are consistent with those used for the financial statements at December 31, 2024.

The preparation of financial statements in accordance with IFRS for the closing as of June 30, 2025 requires the General Management to make estimates, assumptions and judgments that affect the information reported in the Consolidated Financial Statements and the Notes thereto.

These estimates, assumptions and judgments are based on historical experience and other factors believed to be reasonable at the date of preparation of the financial statements. They are reviewed on an on-going basis by General Management and therefore could be revised as circumstances change or as a result of new information.

The main estimates, judgments and assumptions relate to the estimation of hydrocarbon reserves in application of the successful efforts method for the oil and gas activities, asset impairments, employee benefits, asset retirement obligations and income taxes. These estimates and assumptions are described in the Notes to the Consolidated Financial Statements as of December 31, 2024.

Different estimates, assumptions and judgments could significantly affect the information reported, and actual results may differ from the amounts included in the Consolidated Financial Statements and the Notes thereto.

Furthermore, when the accounting treatment of a specific transaction is not addressed by any accounting standard or interpretation, the General Management of the Company applies its judgment to define and apply accounting policies that provide information consistent with the general IFRS concepts: faithful representation, relevance and materiality.

#### 2) Changes in the Company structure
***2.1) Main acquisitions and divestments***

**Integrated Power**

● In April 2, 2025, following the agreements signed in 2024, TotalEnergies finalized the acquisition of VSB Group, a European wind and solar developer with extensive operations in Germany, for a consideration of €1.57 billion. VSB has built a recognized expertise and notable track record in the development of onshore wind power farms across Europe (more than 2 GW of developed capacity). VSB has 500 MW of renewable capacity in operation or under construction mainly in Germany and France, and a pipeline of more than 15 GW of wind, solar and battery storage technologies mainly across Germany, Poland and France.

***2.2) Major business combinations***

**Integrated LNG**

● **Acquisition of the Upstream Gas Assets of SapuraOMV** 

In December 2024, TotalEnergies has finalized the acquisition of the interests of OMV (50%) and Sapura Upstream Assets (50%) in SapuraOMV Upstream (SapuraOMV), an independent gas producer and operator in Malaisia. In accordance with IFRS 3 "Business combinations", TotalEnergies is assessing the fair value of identifiable acquired assets, liabilities and contingent liabilities on the basis of available information. The preliminary purchase price allocation is shown below:

---

| | |
|:---|:---|
| (M$) | At the acquisition date |
| Goodwill | 440 |
| Intangible assets | 437 |
| Tangible assets | 1022 |
| Other assets and liabilities | (486) |
| Net debt of the acquired treasury | (224) |
| **Fair value of the consideration transferred** | **1189** |

---

**Integrated Power**

● **Acquisition of VSB Group** 

TotalEnergies finalized the acquisition of VSB Group, a European wind and solar developer with extensive operations in Germany. In accordance with IFRS 3, TotalEnergies is assessing the fair value of identifiable acquired assets, liabilities and contingent liabilities on the basis of available information. This assessment will be finalized within 12 months following the acquisition date.

***2.3) Major divestment projects***

**Exploration & Production**

● On July 17, 2024, TotalEnergies announced that its subsidiary TotalEnergies EP Nigeria signed a sale and purchase agreement (SPA) with Chappal Energies for the sale of its 10% interest in the SPDC JV licenses in Nigeria.

As of June 30, 2025, the assets and liabilities are respectively classified in the consolidated balance sheet as "Assets classified as held for sale" for an amount of $1,224 million and "Liabilities classified as held for sale" for an amount of $1,068 million. These assets mainly include tangible assets.

● On May 29, 2025, TotalEnergies announced that its subsidiary TotalEnergies EP Nigeria (TEPNG) signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo) for the sale of its non-operated 12.5% interest in the OML118 Production Sharing Contract (PSC).

As of June 30, 2025, the assets and liabilities are respectively classified in the consolidated balance sheet as "Assets classified as held for sale" for an amount of $605 million and "Liabilities classified as held for sale" for an amount of $233 million. These assets mainly include tangible assets.

#### 3) Business segment information

#### Description of the business segments
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 and which is reviewed by the main operational decision-making body of TotalEnergies, namely the Executive Committee.

The operational profit and assets are broken down by business segment prior to the consolidation and inter-segment adjustments.

Sales prices for transactions between business segments approximate market prices.

The reporting structure for the business segments' financial information is based on the following five business segments:

- An Exploration & Production segment that encompasses the activities of exploration and production of oil and natural gas, conducted in about 50 countries;

- An Integrated LNG segment covering the integrated gas chain (including upstream and midstream LNG activities) as well as biogas, hydrogen and gas trading activities;

- An Integrated Power segment covering generation, storage, electricity trading and B2B-B2C distribution of gas and electricity;

- A Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining, petrochemicals and specialty chemicals. This segment also includes the activities of oil Supply, Trading and marine Shipping;

- A Marketing & Services segment including the global activities of supply and marketing in the field of petroleum products;

In addition the Corporate segment includes holdings operating and financial activities.

**Definition of the indicators**

Adjusted Net Operating Income

TotalEnergies measures performance at the segment level on the basis of adjusted net operating income. Adjusted net operating income comprises operating income of the relevant segment after deducting the amortization and the depreciation of intangible assets other than mineral interest, translation adjustments and gains or losses on the sale of assets, as well as all other income and expenses related to capital employed (dividends from non-consolidated companies, income from equity affiliates and capitalized interest expenses) and after income taxes applicable to the above, excluding the effect of the adjustments describe below.

The income and expenses not included in net operating income adjusted that are included in net income TotalEnergies share are interest expenses related to net financial debt, after applicable income taxes (net cost of net debt), non-controlling interests, and the adjusted items.

Adjustment items include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Special items

Due to their unusual nature or particular significance, certain transactions qualifying 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 assets disposals, which are not considered to be representative of the normal course of business, may qualify as special items although they may have occurred in prior years or are likely to occur in following years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The inventory valuation effect

In accordance with IAS 2, TotalEnergies values inventories of petroleum products in its financial statements according to the First-in, First-Out (FIFO) method and other inventories using the weighted-average cost method. Under the FIFO method, the cost of inventory is based on the historic cost of acquisition or manufacture rather than the current replacement cost. In volatile energy markets, this can have a significant distorting effect on the reported income. Accordingly, 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 its main competitors.

In the replacement cost method, which approximates the Last-In, First-Out (LIFO) 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 prices differential 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 under the FIFO and the replacement cost method.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Effect of changes in fair value

The effect of changes in fair value presented as an adjustment item reflects for trading inventories and storage contracts, differences between internal measures of performance used by TotalEnergies' Executive Committee 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.

#### 3.1) Information by business segment

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **1**<sup>st</sup> **half 2025**<br>(M$) | **Exploration**<br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&**<br>**Services** | <br>**Corporate** | <br>**Intercompany** | <br>**Total** |
| External sales | 2938 | 5674 | 9925 | 44386 | 38945 | 13 | - | 101881 |
| Intersegment sales | 17589 | 5121 | 1385 | 13817 | 333 | 57 | (38302) | - |
| Excise taxes | - | - | - | (366) | (8940) | - | - | (9306) |
| **Revenues from sales** | **20527** | **10795** | **11310** | **57837** | **30338** | **70** | **(38302)** | **92575** |
| Operating expenses | (8377) | (8588) | (10664) | (56643) | (29125) | (494) | 38302 | (75589) |
| Depreciation, depletion and impairment of tangible assets and mineral interests | (3928) | (788) | (183) | (859) | (441) | (57) | - | (6256) |
| Net income (loss) from equity affiliates and other items | 191 | 1143 | 384 | (50) | 103 | (71) | - | 1700 |
| Tax on net operating income | (4121) | (441) | (100) | (95) | (266) | 131 | - | (4892) |
| Adjustments <sup>(a)</sup> | (133) | (214) | (333) | (500) | (43) | (45) | - | (1268) |
| **Adjusted net operating income** | **4425** | **2335** | **1080** | **690** | **652** | **(376)** | **-** | **8806** |
| Adjustments <sup>(a)</sup> |  |  |  |  |  |  |  | (1268) |
| Net cost of net debt |  |  |  |  |  |  |  | (871) |
| Non-controlling interests |  |  |  |  |  |  |  | (129) |
| **Net income - TotalEnergies share** |  |  |  |  |  |  |  | **6538** |

---

<sup>(a)</sup> *Adjustments include special items, inventory valuation effect and the effect of changes in fair value.*

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the Integrated LNG segment.

Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of Integrated LNG segment.

Effects of changes in the fair value of power positions are allocated to the operating income of Integrated Power segment.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **1**<sup>st</sup> **half 2025**<br>(M$) | **Exploration**<br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&**<br>**Services** | <br>**Corporate** | <br>**Intercompany** | <br>**Total** |
| Total expenditures | 6233 | 1779 | 3439 | 593 | 406 | 120 | - | 12570 |
| Total divestments | 438 | 35 | 405 | 48 | 135 | 15 | - | 1076 |
| Cash flow from operating activities  | 6941 | 2282 | 400 | (1096) | 1196 | (1200) | - | 8523 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **1**<sup>st</sup> **half 2024**<br>(M$) | **Exploration** <br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&**<br>**Services** | <br>**Corporate** | <br>**Intercompany** | <br>**Total** |
| External sales | 2734 | 4645 | 11546 | 49049 | 42029 | 18 | - | 110021 |
| Intersegment sales | 19531 | 5606 | 1159 | 16346 | 433 | 140 | (43215) | - |
| Excise taxes | - | - | - | (378) | (8577) | - | - | (8955) |
| **Revenues from sales** | **22265** | **10251** | **12705** | **65017** | **33885** | **158** | **(43215)** | **101066** |
| Operating expenses | (9113) | (7706) | (12071) | (62535) | (32697) | (547) | 43215 | (81454) |
| Depreciation, depletion and impairment of tangible assets and mineral interests | (3824) | (631) | (202) | (792) | (414) | (55) | - | (5918) |
| Net income (loss) from equity affiliates and other items | 238 | 1021 | (589) | 55 | 1396 | 56 | - | 2177 |
| Tax on net operating income | (4424) | (535) | (119) | (315) | (209) | 32 | - | (5570) |
| Adjustments <sup>(a)</sup> | (75) | 26 | (1389) | (171) | 1327 | (13) | - | (295) |
| **Adjusted net operating income**  | **5217** | **2374** | **1113** | **1601** | **634** | **(343)** | **-** | **10596** |
| Adjustments <sup>(a)</sup> |  |  |  |  |  |  |  | (295) |
| Net cost of net debt |  |  |  |  |  |  |  | (650) |
| Non-controlling interests |  |  |  |  |  |  |  | (143) |
| **Net income - TotalEnergies share** |  |  |  |  |  |  |  | **9508** |

---

<sup>(a)</sup> *Adjustments include special items, inventory valuation effect and the effect of changes in fair value.*

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the Integrated LNG segment.

Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of Integrated LNG segment.

Effects of changes in the fair value of power positions are allocated to the operating income of Integrated Power segment.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **1**<sup>st</sup> **half 2024**<br>(M$) | **Exploration**<br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&**<br>**Services** | <br>**Corporate** | <br>**Intercompany** | <br>**Total** |
| Total expenditures | 4991 | 1409 | 2508 | 878 | 403 | 68 | - | 10257 |
| Total divestments | 455 | 79 | 323 | 165 | 1203 | 7 | - | 2232 |
| Cash flow from operating activities  | 8125 | 2141 | 1398 | (588) | 1542 | (1442) | - | 11176 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **2**<sup>nd</sup> **quarter 2025**<br>(M$) | **Exploration**<br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&**<br>**Services** | <br>**Corporate** | <br>**Intercompany** | <br>**Total** |
| External sales | 1369 | 2586 | 3958 | 21759 | 19944 | 11 | - | 49627 |
| Intersegment sales | 8862 | 1869 | 701 | 7006 | 177 | 32 | (18647) | - |
| Excise taxes | - | - | - | (254) | (4697) | - | - | (4951) |
| **Revenues from sales** | **10231** | **4455** | **4659** | **28511** | **15424** | **43** | **(18647)** | **44676** |
| Operating expenses | (4577) | (3632) | (4479) | (27995) | (14751) | (302) | 18647 | (37089) |
| Depreciation, depletion and impairment of tangible assets and mineral interests | (1978) | (397) | (108) | (520) | (224) | (31) | - | (3258) |
| Net income (loss) from equity affiliates and other items | 58 | 578 | 340 | (42) | 113 | (35) | - | 1012 |
| Tax on net operating income | (1793) | (166) | (27) | (12) | (168) | 57 | - | (2109) |
| Adjustments <sup>(a)</sup> | (33) | (203) | (189) | (447) | (18) | (23) | - | (913) |
| **Adjusted net operating income**  | **1974** | **1041** | **574** | **389** | **412** | **(245)** | **-** | **4145** |
| Adjustments <sup>(a)</sup> |  |  |  |  |  |  |  | (913) |
| Net cost of net debt |  |  |  |  |  |  |  | (486) |
| Non-controlling interests |  |  |  |  |  |  |  | (59) |
| **Net income - TotalEnergies share** |  |  |  |  |  |  |  | **2687** |

---

<sup>(a)</sup> *Adjustments include special items, inventory valuation effect and the effect of changes in fair value.*

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the Integrated LNG segment.

Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of Integrated LNG segment.

Effects of changes in the fair value of power positions are allocated to the operating income of Integrated Power segment.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **2**<sup>nd</sup> **quarter 2025**<br>(M$) | **Exploration**<br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&**<br>**Services** | <br>**Corporate** | <br>**Intercompany** | <br>**Total** |
| Total expenditures | 3186 | 877 | 2503 | 351 | 234 | 86 | - | 7237 |
| Total divestments | 80 | 25 | 347 | 42 | 38 | 16 | - | 548 |
| Cash flow from operating activities  | 3675 | 539 | 799 | 887 | 628 | (568) | - | 5960 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **2**<sup>nd</sup> **quarter 2024**<br>(M$) | **Exploration**<br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&**<br>**Services** | <br>**Corporate** | <br>**Intercompany** | <br>**Total** |
| External sales | 1416 | 1986 | 4464 | 24516 | 21358 | 3 | - | 53743 |
| Intersegment sales | 9796 | 2111 | 369 | 8203 | 164 | 77 | (20720) | - |
| Excise taxes | - | - | - | (208) | (4352) | - | - | (4560) |
| **Revenues from sales** | **11212** | **4097** | **4833** | **32511** | **17170** | **80** | **(20720)** | **49183** |
| Operating expenses | (4669) | (2922) | (4506) | (31647) | (16601) | (318) | 20720 | (39943) |
| Depreciation, depletion and impairment of tangible assets and mineral interests | (1907) | (310) | (105) | (416) | (208) | (30) | - | (2976) |
| Net income (loss) from equity affiliates and other items | 141 | 526 | 26 | (13) | (84) | 29 | - | 625 |
| Tax on net operating income | (2163) | (251) | (79) | (60) | (101) | (23) | - | (2677) |
| Adjustments <sup>(a)</sup> | (53) | (12) | (333) | (264) | (203) | (9) | - | (874) |
| **Adjusted net operating income**  | **2667** | **1152** | **502** | **639** | **379** | **(253)** | **-** | **5086** |
| Adjustments <sup>(a)</sup> |  |  |  |  |  |  |  | (874) |
| Net cost of net debt |  |  |  |  |  |  |  | (365) |
| Non-controlling interests |  |  |  |  |  |  |  | (60) |
| **Net income - TotalEnergies share** |  |  |  |  |  |  |  | **3787** |

---

<sup>(a)</sup> *Adjustments include special items, inventory valuation effect and the effect of changes in fair value.*

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the Integrated LNG segment.

Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of Integrated LNG segment.

Effects of changes in the fair value of power positions are allocated to the operating income of Integrated Power segment.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **2**<sup>nd</sup> **quarter 2024**<br>(M$) | **Exploration**<br>**&**<br>**Production** | <br>**Integrated**<br>**LNG** | <br>**Integrated**<br>**Power** | **Refining**<br>**&**<br>**Chemicals** | **Marketing**<br>**&**<br>**Services** | <br>**Corporate** | <br>**Intercompany** | <br>**Total** |
| Total expenditures | 2697 | 844 | 769 | 443 | 259 | 40 | - | 5052 |
| Total divestments | 149 | 29 | 261 | 127 | (78) | 6 | - | 494 |
| Cash flow from operating activities  | 4535 | 431 | 1647 | 1541 | 1650 | (797) | - | 9007 |

---

#### 3.2) Adjustment items
The main adjustement items for 2025 are the following:

1) An "Inventory valuation effect" amounting to $(347) million in net operating income for the Refining & Chemicals and Marketing & Services segments;

2) An "Effect of changes in fair value" amounting to $(438) million in net operating income for the Integrated LNG and Integrated Power segments;

3) "Asset impairment and provisions charges" of $(209) million in net operating income mainly consisting of impairment and provision related to the adaptation project of the Antwerp platform for the Refining & Chemicals segment;

4) "Other items" amounted to $(274) million in net operating income notably related to the impacts of the Energy Profits Levy in the United Kingdom on deferred tax.

The detail of the adjustment items is presented in the table below.

**ADJUSTMENTS TO NET OPERATING INCOME**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Exploration** |  |  | **Refining** | **Marketing** |  |  |
|  |  | **&** | **Integrated** | **Integrated** | **&** | **&** |  |  |
| (M$) |  | **Production** | **LNG** | **Power** | **Chemicals** | **Services** | **Corporate** | **Total** |
| **2**<sup>nd</sup> **quarter 2025** | Inventory valuation effect | - | – | – | (251) | (18) | – | (269) |
|  | Effect of changes in fair value | - | (107) | (176) | – | – | – | (283) |
|  | Restructuring charges | - | – | – | – | – | – | – |
|  | Asset impairment and provisions charges | - | – | (13) | (196) | – | – | (209) |
|  | Gains (losses) on disposals of assets | - | – | – | – | – | – | – |
|  | Other items | (33) | (96) | – | – | – | (23) | (152) |
| **Total** |  | **(33)** | **(203)** | **(189)** | **(447)** | **(18)** | **(23)** | **(913)** |
| **2**<sup>nd</sup> **quarter 2024** | Inventory valuation effect | - | – | – | (263) | (64) | – | (327) |
|  | Effect of changes in fair value | - | (12) | (279) | – | – | – | (291) |
|  | Restructuring charges | - | – | (11) | – | – | – | (11) |
|  | Asset impairment and provisions charges | - | – | – | – | – | – | – |
|  | Gains (losses) on disposals of assets | - | – | 29 | – | (139) | – | (110) |
|  | Other items | (53) | – | (72) | (1) | – | (9) | (135) |
| **Total** |  | **(53)** | **(12)** | **(333)** | **(264)** | **(203)** | **(9)** | **(874)** |
| **1**<sup>st</sup> **half 2025** | Inventory valuation effect | - | – | – | (304) | (43) | – | (347) |
|  | Effect of changes in fair value | - | (118) | (320) | – | – | – | (438) |
|  | Restructuring charges | - | – | – | – | – | – | – |
|  | Asset impairment and provisions charges | - | – | (13) | (196) | – | – | (209) |
|  | Gains (losses) on disposals of assets | - | – | – | – | – | – | – |
|  | Other items | (133) | (96) | – | – | – | (45) | (274) |
| **Total** |  | **(133)** | **(214)** | **(333)** | **(500)** | **(43)** | **(45)** | **(1268)** |
| **1**<sup>st</sup> **half 2024** | Inventory valuation effect | - | – | – | (170) | (50) | – | (220) |
|  | Effect of changes in fair value | - | 26 | (637) | – | – | – | (611) |
|  | Restructuring charges | - | – | (11) | – | – | – | (11) |
|  | Asset impairment and provisions charges | - | – | (644) | – | – | – | (644) |
|  | Gains (losses) on disposals of assets | (9) | – | 29 | – | 1377 | – | 1397 |
|  | Other items | (66) | – | (126) | (1) | – | (13) | (206) |
| **Total** |  | **(75)** | **26** | **(1389)** | **(171)** | **1327** | **(13)** | **(295)** |

---

#### 4) Shareholders' equity

#### Treasury shares (TotalEnergies shares held directly by TotalEnergies SE)

---

| | | |
|:---|:---|:---|
|  | **December 31, 2024** | **June 30, 2025** |
| **Number of treasury shares** | **149529818** | **77953973** |
| Percentage of share capital | 6.24% | 3.42% |

---

At its meeting on February 4, 2025, the Board of Directors decided, following the authorization of the Extraordinary Shareholder's Meeting held on May 25, 2022, to cancel 127,622,460 treasury shares bought back between October 27, 2023 and November 19, 2024.

#### Dividend
The Shareholder's Meeting of May 23, 2025 approved the distribution of an ordinary dividend at €3.22 per share. The final dividend for fiscal year 2024 was paid according to the following timetable :

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Dividend 2024** | **First interim** | **Second interim** | **Third interim** | **Final** |
| Amount | €0.79 | €0.79 | €0.79 | €0.85 |
| Set date  | April 25, 2024 | July 24, 2024 | October 30, 2024 | May 23, 2025 |
| Ex-dividend date | September 25, 2024 | January 2, 2025 | March 26, 2025 | June 19, 2025 |
| Payment date | October 1, 2024 | January 6, 2025 | April 1, 2025 | July 1, 2025 |

---

The Board of Directors, at its meeting on April 29, 2025, set the first interim dividend for the fiscal year 2025 at €0.85 per share. The ex-dividend date of this interim dividend will be October 1, 2025 and it will be paid in cash on October 3, 2025.

Furthermore, the Board of Directors, at its meeting on July 23, 2025, set the second interim dividend for the fiscal year 2025 at €0.85 per share, i.e. an amount equal to the aforementioned first interim dividend. The ex-dividend date of this interim dividend will be December 31, 2025 and it will be paid in cash on January 5, 2026.

---

| | | |
|:---|:---|:---|
| **Dividend 2025** | **First interim** | **Second interim** |
| Amount | €0.85 | €0.85 |
| Set date  | April 29, 2025 | July 23, 2025 |
| Ex-dividend date | October 1, 2025 | December 31, 2025 |
| Payment date | October 3, 2025 | January 5, 2026 |

---

#### Earnings per share in Euro
Earnings per share in Euro, calculated from the earnings per share in U.S. dollars converted at the average Euro/USD exchange rate for the period, amounted to €1.03 per share for the 2<sup>nd</sup> quarter 2025 (€1.61 per share for the 1<sup>st</sup> quarter 2025 and €1.51 per share for the 2<sup>nd</sup> quarter 2024). Diluted earnings per share calculated using the same method amounted to €1.01 per share for the 2<sup>nd</sup> quarter 2025 (€1.60 per share for the 1<sup>st</sup> quarter 2025 and €1.51 per share for the 2<sup>nd</sup> quarter 2024).

Earnings per share are calculated after remuneration of perpetual subordinated notes.

#### Perpetual subordinated notes
TotalEnergies SE has not issued any perpetual subordinated notes during the first six months of 2025.

In February 2025, TotalEnergies SE has redeemed the outstanding nominal amount of €1,082 million of perpetual subordinated notes carrying a coupon of 2.625%, issued in February 2015, on their first call date.

#### Other comprehensive income
Detail of other comprehensive income is presented in the table below:

---

| | | |
|:---|:---|:---|
| **(M$)** | **1**<sup>st</sup> **half 2025** | **1**<sup>st</sup> **half 2024** |
| Actuarial gains and losses | 16 | 20 |
| Change in fair value of investments in equity instruments | 64 | 143 |
| Tax effect | (19) | (19) |
| Currency translation adjustment generated by the parent company | 8690 | (2189) |
| **Sub-total items not potentially reclassifiable to profit and loss** | **8751** | **(2045)** |
| **Currency translation adjustment** | **(6709)** | **1622** |
| - unrealized gain/(loss) of the period | (6708) | 1634 |
| - less gain/(loss) included in net income | 1 | 12 |
| **Cash flow hedge** | **(668)** | **1400** |
| - unrealized gain/(loss) of the period | (1000) | 1346 |
| - less gain/(loss) included in net income | (332) | (54) |
| **Variation of foreign currency basis spread** | **19** | **(15)** |
| - unrealized gain/(loss) of the period | 12 | (6) |
| - less gain/(loss) included in net income | (7) | 9 |
| **Share of other comprehensive income of equity affiliates, net amount** | **(274)** | **(114)** |
| - unrealized gain/(loss) of the period | (268) | (103) |
| - less gain/(loss) included in net income | 6 | 11 |
| **Other** | **7** | **-** |
| **Tax effect** | **156** | **(372)** |
| **Sub-total items potentially reclassifiable to profit and loss** | **(7469)** | **2521** |
| **Total other comprehensive income (net amount)** | **1282** | **476** |

---

Tax effects relating to each component of other comprehensive income are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **1**<sup>st</sup> **half 2025** | **1**<sup>st</sup> **half 2025** | **1**<sup>st</sup> **half 2025** | **1**<sup>st</sup> **half 2024** | **1**<sup>st</sup> **half 2024** | **1**<sup>st</sup> **half 2024** |
| <br>&nbsp;&nbsp;(M$) | **Pre-tax**<br>**amount** | <br>**Tax effect** | <br>**Net amount** | **Pre-tax**<br>**amount** | <br>**Tax effect** | <br>**Net amount** |
| &nbsp;&nbsp;Actuarial gains and losses | 16 | (5) | 11 | 20 | 12 | 32 |
| &nbsp;&nbsp;Change in fair value of investments in equity instruments  | 64 | (14) | 50 | 143 | (31) | 112 |
| &nbsp;&nbsp;Currency translation adjustment generated by the parent company | 8690 | - | 8690 | (2189) | - | (2189) |
| &nbsp;&nbsp;**Sub-total items not potentially reclassifiable to profit and loss** | **8770** | **(19)** | **8751** | **(2026)** | **(19)** | **(2045)** |
| &nbsp;&nbsp;Currency translation adjustment | (6709) | - | (6709) | 1622 | - | 1622 |
| &nbsp;&nbsp;Cash flow hedge | (668) | 163 | (505) | 1400 | (376) | 1024 |
| &nbsp;&nbsp;Variation of foreign currency basis spread | 19 | (7) | 12 | (15) | 4 | (11) |
| &nbsp;&nbsp;Share of other comprehensive income of equity affiliates, net amount | (274) | - | (274) | (114) | - | (114) |
| &nbsp;&nbsp;Other | 7 | - | 7 | - | - | - |
| &nbsp;&nbsp;**Sub-total items potentially reclassifiable to profit and loss** | **(7625)** | **156** | **(7469)** | **2893** | **(372)** | **2521** |
| &nbsp;&nbsp;**Total other comprehensive income** | **1145** | **137** | **1282** | **867** | **(391)** | **476** |

---

#### 5) Financial debt
The Company has issued senior bonds across three tranches in the Euro markets on February 24<sup>th</sup>, 2025 with a settlement date on March 3<sup>rd</sup>, 2025:

-1,000 million euros at 3.160% issued by TotalEnergies Capital International and maturing in March 2033;

-850 million euros at 3.499% issued by TotalEnergies Capital International and maturing in March 2037;

-1,300 million euros at 3.852% issued by TotalEnergies Capital International and maturing in March 2045.

The Company has issued senior bonds across three tranches in the Euro markets on June 24<sup>th</sup>, 2025 with a settlement date on July 1<sup>st</sup>, 2025:

1,000 million euros at 3.075% issued by TotalEnergies Capital International and maturing in July 2031;<br>

1,100 million euros at 3.647% issued by TotalEnergies Capital International and maturing in July 2035; <br>

900 million euros at 4.060% issued by TotalEnergies Capital International and maturing in July 2040.<br>

The Company has redeemed three senior bonds during the first six months of 2025:

1,000 million dollars at 2.434% bond issued by TotalEnergies Capital International in 2019 and maturing in January 2025;<br>

850 million euros at 1.375% bond issued by TotalEnergies Capital International in 2014 and maturing in March 2025;<br>

1,000 million Hong Kong dollars at 2.920% bond issued by TotalEnergies Capital International in 2014 and maturing in April 2025.<br>

#### 6) Related parties
The related parties are mainly equity affiliates and non-consolidated investments.

There were no major changes concerning transactions with related parties during the first six months of 2025.

#### 7) Other risks and contingent liabilities
TotalEnergies is not currently aware of any exceptional event, dispute, risks or contingent liabilities that could have a material impact on the assets and liabilities, results, financial position or operations of the TotalEnergies company, other than those mentioned below.

#### Yemen
In Yemen, the deterioration of security conditions in the vicinity of the Balhaf site caused the company Yemen LNG, in which the TotalEnergies company holds a stake of 39.62%, to stop its commercial production and export of LNG and to declare force majeure to its various stakeholders in 2015. The plant has been put in preservation mode.

#### Mozambique
Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, the TotalEnergies company has confirmed on April 26, 2021, the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation led the Company, as operator of Mozambique LNG project, to declare force majeure.

**Legal and arbitration proceedings**

- Disputes relating to Climate

In France, TotalEnergies SE was summoned in January 2020 before Nanterre's Civil Court of Justice by certain associations and local communities in order to oblige the Company to complete its Vigilance Plan, by identifying in detail risks relating to a global warming above 1.5 °C, as well as indicating the expected amount of future greenhouse gas emissions related to the Company's activities and its product utilization by third parties and in order to obtain an injunction ordering the Corporation to cease exploration and exploitation of new oil or gas fields, to reduce its oil and gas production by 2030 and 2050, and to reduce its net direct and indirect CO2 emissions by 40% in 2040 compared with 2019. This action was declared inadmissible on July 6, 2023, by the Paris Civil Court of Justice to which the case was transferred following a new procedural law. Following the appeal filed by the claimants, the Paris Court of Appeal, in a judgment of June 18, 2024, considered the action initiated admissible in particular on the basis of the law on the duty of vigilance transferring the case for trial on the merits before the Paris Civil Court of Justice, while strucking out 17 of the 22 applicants as well as declining to awards any provisional measures. TotalEnergies SE considers that it has fulfilled its obligations under the French law on the vigilance duty. A new action against the Corporation, with similar requests for injunction, has started in March 2024 before the commercial court of Tournai in Belgium.

Some associations in France brought civil and criminal actions against TotalEnergies SE, with the purpose of proving that since May 2021 – after the change of name of TotalEnergies – the Corporation's corporate communication and its publicity campaign contain environmental claims that are either false or misleading for the consumer. TotalEnergies considers that these accusations are unfounded.

In France, on July 4, 2023, nine shareholders (two companies and 7 individuals holding a small number of the Corporation's shares) brought an action against the Corporation before the Nanterre Commercial Court, seeking the annulment of resolution no. 3 passed by the Corporation's Annual Shareholders' Meeting on May 26, 2023, recording the results for fiscal year 2022 and setting the amount of the dividend to be distributed for fiscal year 2022. The plaintiffs essentially allege an insufficient provision for impairment of TotalEnergies's assets in the financial statements for the fiscal year 2022, due to the insufficient consideration of future risks and costs related to the consequences of greenhouse gas emissions emitted by its customers (scope 3) and carbon cost assumptions presented as too low. The Corporation considers this action to be unfounded.

In the United States, several US subsidiaries of TotalEnergies were summoned, amongst many companies and professional associations, in several "climate litigation" cases, seeking to establish legal liability for past greenhouse gas emissions, and to compensate plaintiff public authorities, in particular for resulting adaptation costs. The Corporation, which was initially summoned in some of these claims along with these subsidiaries, is no longer named in these proceedings. The Company considers that the courts lack jurisdiction, that it has many arguments to put forward, and considers also that the past and present behavior of the Company does not constitute a fault susceptible to give rise to liability.

-Mozambique

In France, victims and heirs of deceased persons filed a complaint against TotalEnergies SE in October 2023 with the Nanterre Prosecutor, following the events perpetrated by terrorists in the city of Palma in March 2021. This complaint would allege that the Corporation is liable for "unvoluntary manslaughter" and "failure to assist people in danger". The Corporation considers these accusations as unfounded in both law and fact<sup>1</sup>.

<sup>1</sup> Refer to the press release published by the Company on October 11, 2023 contesting the accusations.

-Kazakhstan

On April 1st, 2024, the Republic of Kazakhstan filed a Statement of Claims in the context of an arbitration involving TotalEnergies EP Kazakhstan and its partners under the production sharing contract related to the North Caspian Sea. TotalEnergies EP Kazakhstan and its partners consider this action to be unfounded. Therefore, it is not possible at this date to reliably assess the potential consequences of this claim, particularly financial ones, nor the date of their implementation.

#### 8) Subsequent events
There are no post-balance sheet events that could have a material impact on the Company's financial statements.

## Exhibit 99.2

**EXHIBIT 99.2**

**RECENT DEVELOPMENTS**

*The term "TotalEnergies" or the "Company" in this exhibit is used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate and independent legal entities.*

**TotalEnergies confirms the second interim dividend of €0.85/share for fiscal year 2025, an increase of 7.6% compared to 2024**

On July 23, 2025, the Board of Directors of the Company (the "Board of Directors") met, under the chairmanship of Mr. Patrick Pouyanné, Chairman and Chief Executive Officer, and decided on the distribution of a second interim dividend of 0.85 €/share for fiscal year 2025, an increase of 7.6% compared to the three interim dividends paid for fiscal year 2024 and identical to the final ordinary dividend for fiscal year 2024 and to the first 2025 interim. This increase is in line with the shareholder return policy announced by the Board of Directors in February 2025.

This interim dividend will be paid in cash exclusively, according to the following timetable:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Shareholders** |  | **American Depositary Shares<br>holders** |
| Ex-dividend date |  | December 31, 2025 |  | December 31, 2025 |
| Payment date |  | January 5, 2026 |  | January 23, 2026 |

---

**Angola: Start-up of BEGONIA and CLOV Phase 3 Offshore Projects**

On July 23, 2025, TotalEnergies announced the start of production from the BEGONIA and CLOV Phase 3 offshore projects, leveraging ullage in the PAZFLOR and CLOV floating production, storage and offloading units (FPSO) to add a total of 60,000 barrels a day of new production.

These two subsea tie-back projects deliver additional production leveraging available capacity on existing FPSO's and as such have low marginal costs and low carbon intensities.

*BEGONIA, the first development on Block 17/06*

TotalEnergies (30%, operator) announced the start of production from BEGONIA, the first inter-block development in Angola. A project made possible thanks to good cooperation between the Angolan concession holder Agencia Nacional de Petróleo, Gás e Biocombustíveis (ANPG), the partners of the block 17/06, Sonangol E&P (30%), SSI (27,5%), ETU Energias (7.5%), Falcon Oil (5%), and the partners of block 17 also operated by TotalEnergies.

Located 150 kilometers off the Angolan coast, BEGONIA is a 30,000 barrels per day project consisting of five wells subsea tied back to the PAZFLOR FPSO.

*CLOV Phase 3, continued upsides on Block 17*

TotalEnergies (38%, operator) also announced the first oil from CLOV Phase 3 in Block 17, in agreement with ANPG and its partners Equinor (22,16%), ExxonMobil (19%), Azule Energy (15.84%) and Sonangol E&P (5%).

Located 140 kilometers from the Angolan coast, CLOV Phase 3 is a 30,000 barrels per day project consisting of four wells subsea tie-back to the CLOV FPSO.

**TotalEnergies and CMA CGM to Launch LNG Bunkering Logistics Joint Venture to Accelerate Maritime Decarbonization**

On July 23, 2025, TotalEnergies, a global integrated energy company, and CMA CGM Group, a global player in sea, land, air and logistics solutions, entered into an agreement to develop a 50/50 logistics joint venture dedicated to the implementation and operation of a liquefied natural gas (LNG) bunker supply solution at the port of Rotterdam, in the Netherlands. This strategic partnership reflects the shared ambition of both French companies to work jointly towards the acceleration of the energy transition in the maritime sector.

*Expanding LNG Infrastructure in Europe*

As part of this new logistics joint venture, a new 20,000 cubic-meter LNG bunker vessel is expected to be positioned in Rotterdam by the end of 2028 and jointly operated. The CMA CGM-TotalEnergies JV is expected to offer a complete logistics service, from reload access at Gate terminal facilities to LNG bunker delivery to a wide range of vessels operating in the Amsterdam-Rotterdam-Antwerp (ARA) region, including those of CMA CGM as well as other shipping operators.

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The joint venture is expected to capitalize on TotalEnergies' established logistics infrastructure in the ARA region, where the 18,600 m<sup>3</sup> LNG bunker vessel *Gas Agility* has been in operation since 2020. By integrating the JV's future LNG bunker vessel with *Gas Agility*, the partnership aims to create synergies that enhance delivery flexibility and boost operational efficiency across the region.

*A Long-Term LNG Supply Agreement*

To support CMA CGM's goal of reaching Net Zero Carbon by 2050 and ensure the supply of its dual-fuel LNG-powered fleet, which is expected to grow to 123 vessels by 2029, TotalEnergies is expected to supply CMA CGM with up to 360,000 tons of LNG annually, from 2028 onwards and until 2040.

The creation of the joint venture is subject to applicable regulatory approvals.

**United States: TotalEnergies Expands Its Investments in Sustainable Forestry Operations to Preserve Carbon Sinks** 

On July 22, 2025, TotalEnergies signed an agreement with NativState, an Arkansas-based forest carbon project developer, to conserve forests from land conversion and heavy timber harvesting.

The transaction includes 13 Improved Forest Management (IFM) projects located in Arkansas, Louisiana, Mississippi and Tennessee, U.S.A, covering 100,000 hectares (247,000 acres) owned by more than 280 private family forest landowners. The carbon program managed by NativState offers landowners a sustainable income alternative to this region's common practice of heavy timber harvesting while restoring forest health and improving carbon stocks.

This investment is expected to support sustainable forest practices, such as identifying and preserving high conservation value forests, implementing best management practices for streamside management zones, improving forest species diversity, and conserving wildlife corridors. It is also expected to generate social benefits to small landowners such as forestry management education and technical support, as well as financial benefits by giving them access to voluntary carbon markets.

All carbon credits generated by the project are expected to be certified by the ACR, an internationally recognized carbon crediting program, and is expected to be acquired by TotalEnergies. After prioritizing emission avoidance and reduction, the Company is expected to use these credits from 2030 onwards to voluntarily offset part of its remaining direct Scope 1 & 2 emissions.

**Data & Digital: TotalEnergies and Emerson Sign a Strategic Collaboration to Boost the Value of Industrial Data**

On July 22, 2025, TotalEnergies and Emerson's Aspen Technology business announced a strategic collaboration to deploy advanced digital technologies for the continuous, real-time collection of data from TotalEnergies' industrial sites. The objective is to harness the value of that data to enhance decision-making, specifically through the use of artificial intelligence (AI), and optimize operational efficiency, energy use and environmental performance at TotalEnergies sites worldwide, thereby continuing to supply more reliable and sustainable energy.

*Leveraging data in real time...*

Under the terms of the deal, TotalEnergies is expected to roll out Emerson's AspenTech InmationTM across its industrial sites worldwide. This industrial data fabric is expected to continuously collect and centralize millions of real-time data points from TotalEnergies' facilities, providing secure and unified access to data across the organization.

The digital infrastructure, which also includes Emerson's advanced process control solutions, is expected to subsequently allow TotalEnergies to deploy AI use cases.

*...to improve industrial performance*

This rollout is planned over a two-year period and is expected to ultimately enable TotalEnergies to extract more value from its data by:

● Accelerating the detection of anomalies and performance degradation;

● Optimizing energy consumption;

● Enhancing operational safety;

● Speeding up the integration of AI into industrial processes.

**Caribbean: TotalEnergies Expands its Partnership with AES from LNG to Renewable Energy**

On July 2, 2025, TotalEnergies announced the closing of its acquisition of a 50% stake in the solar, wind and Battery Energy Storage Systems (BESS) portfolio of AES Dominicana Renewables Energy. This deal follows TotalEnergies' 2024 acquisition of a 30% share in AES solar and battery assets currently under construction in Puerto Rico. The combined portfolio now exceeds 1.5 GW of renewable energy and BESS capacity across the Caribbean.

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These transactions advance TotalEnergies' multi-energy strategy in a region where it is a key player in the liquefied natural gas (LNG) value chain.

*Dominican Republic: TotalEnergies acquires 50% of AES renewables portfolio*

AES' renewables portfolio includes over 1 GW of contracted wind, solar, and BESS projects, of which 410 MW is already operational or under construction, supplying electricity under long-term Power Purchase Agreements (PPAs). The portfolio also includes over 500 MW of solar and wind capacity in development, alongside BESS projects, which are expected to be integrated into solar plants to mitigate intermittency and enhance grid stability.

This acquisition is expected to allow TotalEnergies to expand its renewables business in the Dominican Republic, where the Company already has a partially solarized network of 184 service stations, natural gas distribution and a 103 MW solar plant under construction.

*Puerto Rico: TotalEnergies already holds 30% of a portfolio of AES renewables*

The AES' renewables portfolio includes 485 MW of contracted solar and BESS projects, comprising 200 MW of solar and 285 MW/1,140 MWh of BESS projects currently under construction.

After acquiring 30% of these assets in 2024, TotalEnergies is pursuing deployment of its multi-energy strategy on the island, where it is already active in the fuel, lubricants, and aviation sectors, and operates a network of 200 service stations between Puerto Rico and the island of St Thomas.

**In Line With its Business Model, TotalEnergies is Selling 50% of a Portfolio of Renewable Assets in Portugal**

On July 2, 2025, in line with its renewables business model, TotalEnergies announced the completion of the sale of 50% of its 604 MW wind, solar and hydro portfolio in Portugal to the Consortium composed of MM Capital Partners 2 Co., Ltd., Daiwa Energy & Infrastructure Co. Ltd., and Mizuho Leasing Co., Ltd. for a consideration of €178.5 million, equivalent to an enterprise value of €550M.

Following this transaction, TotalEnergies is expected to retain a 50% stake and continue to operate the assets. Additionally, once the regulated tariffs they benefit from expire, TotalEnergies is expected to purchase the production of these assets, which have an average age of 16 years, and it is expected to handle their commercialization.

**Suriname: TotalEnergies acquires 25% interest in Block 53**

On June 27, 2025, TotalEnergies signed an agreement to acquire the 25% interest held by Moeve (formerly known as CEPSA) in Block 53, offshore Suriname, joining APA (45%, operator) and Petronas (30%) as partner in this license.

Block 53 lies directly east of Block 58, where TotalEnergies (40%<sup>1</sup>, operator) and its partners announced the Final Investment Decision for the GranMorgu development in October 2024. Block 53 contains the Baja-1 discovery, drilled near the border of Block 58.

**TotalEnergies becomes Official Partner of the Tour de France and specifies its cycling partnerships**

On June 26, 2025, TotalEnergies announced the signing of an official Tour de France partnership in the Energy category for seasons 2026 to 2028. On the sporting front, the company is delighted that Team TotalEnergies, led by Jean-René Bernaudeau, will take part in the Tour de France 2025.TotalEnergies has also finalized a jersey sponsorship deal with INEOS Grenadiers.

*TotalEnergies becomes a new partner of the Tour, one of the French people's favorite sporting events*

Starting with the 113th Tour de France, in 2026, and for three seasons, TotalEnergies is expected to be the Official Partner to the Tour de France and the Women's Tour de France, alongside Zwift in the Energies category.

For a popular brand like TotalEnergies, the Tour de France represents an outstanding opportunity to get close to the French people who share a passion for cycling. The Company has deep roots in the French regions, with its 3,300 service stations that welcome 1 million customers every day and 6 million electricity and gas customers. Employees, customers, partners, fans: TotalEnergies wants to involve everyone in this partnership to share in the joy of this event.

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<sup>1</sup> After 20% Staatsolie (NOC) back-in

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Starting in 2026, TotalEnergies is expected to put on a major promotional campaign and activities in the Tour de France's publicity caravan for the 21 stages of the Grande Boucle and the 9 stages of the women's race. Every summer, over 12 million people line the French roads to wait for the caravan, including many TotalEnergies customers.

*Team TotalEnergies at the start of the Tour de France 2025*

The TotalEnergies Team adventure continues at the 2025 Tour de France. For the 26th consecutive year, Jean-René Bernaudeau's team is expected to take part in the Grande Boucle, which kicks off in Lille on July 5. TotalEnergies is expected to remain the title sponsor of the Vendée-based team for the upcoming season.

*Visibility on the INEOS Grenadiers' jersey in the 2025 Tour de France*

Building on the strong existing industrial relationship between INEOS and TotalEnergies, on a global scale, and in particular in the framework of the Amiral project in Saudi Arabia, TotalEnergies has finalized a sponsorship deal for the INEOS Grenadiers' jersey, starting at this year's Tour de France.

TotalEnergies confirms that its agreements with these two cycling teams are strictly commercial and exclude any influence and/or interference in sporting matters and race strategies. The Company is implementing internal rules to ensure this separation and the full independence of both teams. A principle the UCI is expected to monitor in accordance with its regulation.

**Algeria: TotalEnergies is Granted a New Exploration License**

On June 17, 2025, TotalEnergies, jointly with QatarEnergy, was awarded the Ahara license following the *"*Algeria Bid Round 2024*",* launched by The National Agency for the Valorization of Hydrocarbon Resources (ALNAFT), the first call for tender conducted under the hydrocarbon law No.19-13.

Ahara is a large license covering an area of approximately 14,900 km<sup>2</sup>, located at the intersection of the prolific Berkine and Illizi Basins. TotalEnergies is expected to serve as the operator during the Exploration and Appraisal phases of this license with a 24.5% effective interest, the same share as QatarEnergy (24.5%). The national company SONATRACH is expected to retain a majority interest of 51%, in accordance with Algerian law.

**Paris Air Show: TotalEnergies Signs a Deal with Quatra to Secure Feedstock for its Biorefineries**

On June 17, 2025, TotalEnergies and Quatra, the European market leader in the collection and recycling of used cooking oil, signed a 15-year agreement beginning in 2026, for the supply of 60,000 tons a year of European used cooking oil to TotalEnergies' biorefineries. This deal contributes to secure the feedstock to produce biodiesel and sustainable aviation fuel (SAF).

*From the collection of used cooking oil to the production of biofuels in France*

Under the terms of the agreement, Quatra is expected to collect used cooking oil directly from restaurants, restaurant chains and industry in France and the rest of Europe. The oil is expected to then be delivered to Quatra sites for filtering before being shipped to TotalEnergies' biorefineries to produce road biofuels and SAF.

TotalEnergies has converted its refineries at La Mède in the south of France and Grandpuits near Paris into biorefineries.

● La Mède: The biorefinery at La Mède, launched in 2019, has an annual production capacity of 500,000 tons of biofuel. Through this site, TotalEnergies is the only producer of HVO biodiesel in France. This year, La Mède is expected to also produce sustainable aviation fuel for airports in the south of France.

● Grandpuits: the site's conversion into a zero-crude complex includes a biorefinery with an annual production capacity of 230,000 tons of sustainable aviation fuel. Commissioning is planned for 2026. TotalEnergies has partnered with SARIA, the European leader in the collection and reuse of organic waste in the form of sustainable products, which is expected to supply most of the site's feedstock.

**Germany: TotalEnergies Awarded an Offshore Wind Concession in the North Sea**

On June 17, 2025, TotalEnergies, as a shareholder of North Sea OFW One GmbH, was awarded the N-9.4 offshore concession by the Federal Network Agency. Located in the North Sea, approximately 150 kilometers northwest of the German island of Heligoland, the N-9.4 concession covers an area of around 141 square kilometers and is expected to enable the development of 1GW of offshore wind capacity. The concession is granted for a period of 25 years, extendable to 35 years.

This N-9.4 concession is located in very close proximity to the N-9.1 and N-9.2 sites, jointly owned by RWE and TotalEnergies, TotalEnergies' intending to prioritize the development of this cluster and leverage synergies to optimize construction and operating costs for the benefit of its customers.

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As part of this award, Offshore Wind One GmbH is expected to pay €18 million to the German federal government in 2026, which is expected to be allocated to marine conservation and the promotion of environmentally friendly fishing practices. In addition, an annual contribution of €8.1 million is expected to be paid for 20 years to the electricity transmission system operator responsible for connecting the project, starting from the commissioning of the site.

Furthermore, considering the longer delays in the connection timelines announced by the German transmission system operators (TSOs), TotalEnergies has launched a strategic review of the various concessions obtained since 2023, with a view to engaging in dialogue with the German authorities to explore the conditions of their possible developments.

**TotalEnergies Expands Malaysia's Portfolio Strengthening its Strategic Partnership with PETRONAS**

On June 16, 2025, on the occasion of Energy Asia 2025 in Kuala Lumpur, TotalEnergies announced the acquisition from PETRONAS of interests in multiple blocks offshore Malaysia and in one block offshore Indonesia, where exploration, appraisal and development programs are expected to progressed. The licenses, which are all in different maturation stages, cover more than 100,000 km<sup>2</sup>.

TotalEnergies is expected to notably hold, alongside PETRONAS through its wholly-owned subsidiary Petronas Carigali Sdn Bhd, a 50% operated working interest in Blocks SK301b and SK313, where significant gas discoveries (more than 4 Tcf) were made and are expected to be developed to support gas supply to Malaysia LNG from 2030. TotalEnergies is expected to also hold, alongside PETRONAS, interests in several exploration blocks offshore Malaysia. The transaction is subject to customary conditions, including regulatory approvals.

Following the SapuraOMV's acquisition in December 2024, this transaction is expected to strengthen TotalEnergies' position in South-East Asia with Malaysia as an anchor point, in partnership with PETRONAS.

Building on the successful and long-standing collaboration between the two companies in the upstream business across several countries, Patrick Pouyanné, Chairman and CEO of TotalEnergies and Tan Sri Tengku Muhammad Taufik, President and Group CEO of PETRONAS, also signed a strategic cooperation agreement to deepen their partnership in exploration and production businesses globally.

*Broadening our global strategic collaboration with PETRONAS to Indonesia*

TotalEnergies signed an agreement to acquire a 24.5% interest from PETRONAS in the Bobara block, offshore Indonesia, to carry out an exploration work program targeting oil prospects. After completion, TotalEnergies is expected to hold 24.5% working interest in the Production Sharing Contract while PETRONAS is expected to retain the remainder of the working interest and operatorship in the block.

**Paris Air Show: TotalEnergies, a pioneer in sustainable aviation fuels and committed to the decarbonization of air transport**

On June 16, 2025, TotalEnergies provided an update on its work towards the decarbonization of air transportation, with the production and distribution to its customers of sustainable aviation fuel (SAF). As from 2028, the Company is expected to be able to produce more than half a million tons of SAF a year to cover the increase in the European SAF blending mandate, set at 6% for 2030. TotalEnergies is expected to be able to supply SAF more than 10% of the jet fuel volumes it is expected to market in Europe, ahead of the European mandate set at 6% in 2030.

*TotalEnergies, pioneering SAF production*

● The Grandpuits biorefinery: Thanks to a €500 million investment, TotalEnergies transforms its site into a zero-crude platform, including a biorefinery with a production capacity of 230,000 tons a year of SAF in 2026. TotalEnergies has joined force with SARIA, the European leader in the collection and recovery of organic materials, which is expected to supply the majority of the feedstock supply.

● The La Mède biorefinery: This year, La Mède is expected to produce 15,000 tons of SAF for distribution to airports in the south of France.

● The Normandy refinery: TotalEnergies has begun coprocessing SAF at its Normandy platform. Coprocessing involves the treatment of both fossil jet fuel and biomass in a standard refining unit. The site's annual production capacity is 160,000 tons.

● The Antwerp refinery in Belgium: An initial project to coprocess 50,000 tons a year of SAF was launched this year. Annual production capacity is expected to be subsequently increased to 80,000 tons a year.

● The Leuna refinery in Germany: A coprocessing project for 50,000 tons a year is planned for 2026.

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*TotalEnergies, supplying SAF to customers in the air industry*

TotalEnergies supplies aviation fuels including SAF, in line with blending mandates and the needs of its customers. Those customers include several airlines:

● Air France-KLM, with whom the Company signed a major deal to deliver up to 1.5 million tons of SAF over ten years. This is one of the Group's largest SAF supply contracts.

● Volotea, which has also signed to buy SAF from TotalEnergies until 2029, in order to reduce the emissions of its flights out of several French airports.

TotalEnergies also supplies SAF-blended aviation fuel to several French airports, including Bordeaux, Toulouse, Paris-Le Bourget, Clermont-Ferrand and Saint-Nazaire.

*TotalEnergies, a partner committed to SAF research*

TotalEnergies is also forging partnerships with aerospace groups to accelerate the sector's decarbonization. Those partnerships are playing a critical role in understanding the impact of sustainable aviation fuel composition on aircraft, especially for blends of over 50%. They include:

● A partnership with Airbus, signed in 2024, to supply over half the company's needs in Europe, and conduct a shared R&D program to develop fully sustainable fuels.

● A partnership with Safran, begun in 2021, that led to the formulation of a SAF that was completely compatible with current aircraft and was used to power a flight by a military helicopter in February 2023.

TotalEnergies is also stepping up its R&D effort, especially in feedstock, which remains one of the challenges to increasing SAF production. The Solaize research center in Lyon has specialist teams coordinating this work.

**United States: TotalEnergies enters 40 Chevron-operated exploration blocks, building on a successful U.S. offshore partnership between both Companies**

On June 16, 2025, TotalEnergies announced the acquisition of a 25% working interest in a portfolio of exploration leases Offshore U.S. from Chevron (operator).

The 40 Outer Continental Shelf (OCS) federal leases, spanning approximately 1,000 km<sup>2</sup> and located 175 to 330 km from shore, include 13 blocks located in the Walker Ridge area, 9 blocks in the Mississippi Canyon area and 18 blocks in the East Breaks area.

The transaction provides access to multiple offshore Exploration plays and prospects, strengthening the successful U.S. offshore collaboration with Chevron beyond the existing partnerships in Ballymore (40% TotalEnergies) which achieved first production this year, Anchor (37.14%) where production started-up last year, and the Jack (25%) and Tahiti (17%) producing assets.

**TotalEnergies to Collaborate with Mistral AI to Increase the Application of Artificial Intelligence in its Multi-Energy Strategy**

On June 12, 2025, TotalEnergies and the French company Mistral AI announced a collaboration to accelerate artificial intelligence (AI) innovation in support of the Company's multi-energy strategy, especially in low-carbon energies.

*A shared AI innovation lab*

Under the terms of the partnership, a joint innovation lab is expected to be set up, staffed by teams from both companies. Mistral AI is expected to contribute its AI technologies and TotalEnergies is expected to contribute its expertise in the production of energy, particularly renewable, low carbon energy, in order to test and design advanced digital solutions. The first use cases is expected to allow the Company to:

● design an assistant for its 1,000 researchers to support them in their mission to develop new energies and reduce the Company's environmental footprint;

● develop decision-support solutions to enhance the performance of its industrial assets and lower its CO <sub>2</sub> emissions.

● implement support solutions aimed at improving the customer experience and helping them save energy.

The lab is expected to also test digital solutions for other use cases, especially renewable energy production.

In view of the issue of digital sovereignty in Europe, the partners are expected to jointly examine opportunities for TotalEnergies to adopt AI infrastructure.

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*TotalEnergies and AI, a major pillar of its technological ambition*

The deal reflects TotalEnergies' decision to leverage digital technology and artificial intelligence to improve performance at its industrial facilities and support its transition.

In the past, TotalEnergies has mainly used artificial intelligence in earth science and to improve predictive maintenance or detect any issues with the machinery in its facilities. AI now plays a vital role for the Company, helping develop new opportunities, especially in the production of renewables, reduction of CO<sub>2</sub> emissions and the development of innovative services that allow its customers to control and optimize their energy use.

TotalEnergies' Digital Factory, which is celebrating its fifth anniversary this year, has 300 developers, data scientists and other digital experts, and has already developed over a hundred solutions, sixty of which harness technologies ranging from machine learning to generative AI.

**Gurīn Energy selects Saft's battery energy storage system for first Japanese project**

On June 12, 2025, Saft, a subsidiary of TotalEnergies, was selected by leading Asian renewable energy developer Gurīn Energy to supply a battery energy storage system (BESS) for the latter's major energy storage project being developed in Fukushima, Japan.

Saft is expected to deliver a fully integrated lithium-ion (Li-ion) battery system with a total of over 1 gigawatt-hours (GWh) of storage, together with power conversion and power management systems from its partners, as well as Saft's I-Sight cloud supervision and data management systems featuring AI-based functionalities. The BESS is expected to also be installed, commissioned and serviced by Saft.

The BESS is expected to be deployed in Gurīn Energy's stand-alone energy storage project to be built in Soma City, Fukushima Prefecture. The project is expected to be capable of providing over 240 megawatts (MW) of power for four hours and construction is expected to begin in 2026.

Large-scale energy storage systems store and discharge electricity when there is a need for energy, enabling grid operators to balance energy demand and generation more quickly and cleanly than conventional methods.

Adding energy storage capacity is expected to allow Japan to ensure a stable and sustainable supply of energy and avoid curtailment of renewable energy. This is expected to help Japan progress towards national renewable energy targets of 40-50 percent of the generation mix by 2040, up from 27 percent today, as well as the country's goal of achieving carbon neutrality by 2050.

**Capital increase reserved for employees of TotalEnergies in 2025**

On June 10, 2025, TotalEnergies announced the results of its capital increase reserved for employees of TotalEnergies. In accordance with its policy in favour of employee shareholding, that the Board of Directors of TotalEnergies SE decided, on October 30, 2024, to carry out a capital increase reserved for eligible employees and former employees of TotalEnergies SE and its French and foreign subsidiaries in which the Company holds directly or indirectly more than 50% (in terms of capital or voting rights), that are members of the PEG-A Group savings plan, in France and abroad, under the conditions set by the twenty-second resolution at the Shareholders' Meeting of May 24, 2024.

On April 29, 2025, the Chairman and CEO set (i) the subscription period from May 2 to May 15, 2025 (included) and (ii) the subscription price at 42.50 euros per share, corresponding to the average of the closing prices of the TotalEnergies share on Euronext over the twenty trading sessions preceding the date of this decision, reduced by a 20% discount and rounded off to the highest tenth of a euro.

At the end of this period, 62,796 employees in 97 countries, representing 53% of the eligible employees and former employees, subscribed to this capital increase for an amount of 449.3 million euros. The 2025 results are close to those of 2024, a record year, and significantly higher than in previous years, both in terms of participation and amounts subscribed.

As a result, 11,149,053 new shares are being issued on June 10, 2025. They are expected to carry immediate dividend rights and expected to be fully assimilated with TotalEnergies shares already listed on Euronext.

Following this issuance, the employee shareholders in TotalEnergies SE's share capital, within the meaning of Article L. 225-102 of the French Commercial Code, is estimated at 8.8% of the Company's share capital as of June 10, 2025.

**Brazil: TotalEnergies Increases its Interest in Lapa**

On June 4, 2025, TotalEnergies announced the signature of an agreement with Shell Brasil Petróleo Ltda to exchange its 20% non-operated interest in the Gato do Mato project for an additional 3% interest in Lapa, a producing offshore oil field. Upon closing, TotalEnergies is expected to increase its stake in Lapa to 48% (Operator), alongside Shell (27%) and Repsol Sinopec (25%).

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Located in the Santos Basin, 270 kilometers off the coast of Brazil, Lapa is a deep-offshore field operated by TotalEnergies. The Lapa South-West tie-back development, approved in 2023, is expected to increase production by 25,000 barrels per day upon start-up by year-end, bringing total output of the field to 60,000 barrels per day.

This agreement is subject to customary conditions precedent, notably regulatory approvals.

**UK: TotalEnergies acquires a pipeline of solar and battery projects**

On June 3, 2025, TotalEnergies announced the acquisition from Low Carbon, a leading renewable energy company, of a pipeline of 8 solar projects with a capacity of 350 MW and 2 battery storage projects with a capacity of 85 MW.

As the solar projects are at an advanced stage of development, the target is that they could be operational by 2028. They are expected to produce more than 350 GWh/year of renewable electricity, equivalent to the electricity consumption of around 100,000 UK households.

**Indonesia-Singapore: TotalEnergies and RGE Reach New Milestone in Large-Scale Solar and Battery Storage Project**

On May 30, 2025, TotalEnergies and RGE, a group operating in the bio-based resources and energy sectors, announced that Singapore's Energy Market Authority (EMA) has awarded their equally-owned joint venture Singa Renewables ("Singa") a conditional licence to import 1 GW of renewable power from Indonesia. Today, the partners also signed a Memorandum of Understanding with Singapore Energy Interconnections (SGEI) to jointly develop a subsea interconnector, enabling electricity imports from Indonesia to Singapore.

The partners had previously signed a Co-Investment Agreement to develop, build and operate a hybrid renewable power plant comprising a solar farm, Battery Energy Storage System (BESS), and a subsea cable in Riau Province, Indonesia, during an official ceremony in Jakarta on May 28<sup>th</sup>, 2025, in the presence of French President Emmanuel Macron and Indonesian President Prabowo Subianto.

*A flagship initiative for the decarbonization of local industries*

The project is expected to supply Clean Firm Power to energy-intensive consumers in Singapore and to industrial complexes near the solar site in Riau Province, Indonesia. Throughout the project's development, the partners are expected to harness TotalEnergies' global expertise in large-scale energy projects while leveraging RGE's wide footprint in Indonesia and Singapore.

**Nigeria: TotalEnergies Divests its Non-Operated Interest in the Bonga Field**

On May 29, 2025, TotalEnergies announced that its subsidiary TotalEnergies EP Nigeria (TEPNG) signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo) for the sale of its non-operated 12.5% interest in the OML118 Production Sharing Contract (PSC) for an amount of $510 million.

OML118 PSC is operated by SNEPCo (55%), in partnership with Esso Exploration and Production Nigeria (20%), TotalEnergies EP Nigeria (12.5%), and Nigerian Agip Exploration (12.5%). Located deep offshore at 120 km south of the Niger Delta in Nigeria, it contains the Bonga field, which started production in 2005, as well as the Bonga North field, the development of which started in 2024. Production from the OML 118 PSC, which is mainly oil, represents approximately 11,000 boe/d in Company share in 2024.

Completion of the transaction is subject to customary conditions, including regulatory approvals.

**Brazil: First oil of Mero-4**

On May 26, 2025, TotalEnergies announced first oil from the fourth development phase of the Mero field on the Libra block, located 180 kilometers off the coast of Rio de Janeiro, Brazil, in the pre-salt area of the Santos Basin.

Launched in August 2021, this new phase called "Mero-4" is expected to connect 12 wells to the new Alexandre de Gusmão FPSO (Floating Production, Storage and Offloading) unit, with a production capacity of 180,000 barrels of oil per day (b/d). This project has been designed to minimize greenhouse gas emissions, with reinjection of the associated gas into the reservoir and zero routine flaring.

This startup brings Mero's total production capacity to 770,000 b/d through five FPSOs. This is expected to represent around 100,000 boe/d in TotalEnergies share at full capacity.

Mero is a unitized field, operated by Petrobras (38.6%), in partnership with TotalEnergies (19.3%), Shell Brasil (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal Petróleo S.A (PPSA) (3.5%) representing the Government in the non-contracted area.

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**Ordinary and Extraordinary Shareholders' Meeting on May 23, 2025 - Approval of the resolutions supported by the Board of Directors**

On May 23, 2025, the Combined Shareholders' Meeting of TotalEnergies SE was held under the chairmanship of Mr. Patrick Pouyanné. The shareholders adopted all the resolutions supported by the Board of Directors, including in particular:

● Approval of the 2024 financial statements and payment of a dividend of €3.22 per share for that fiscal year,

● Renewal of a three-year term as Director for Ms. Lise Croteau,

● Appointment of a three-year term for Ms. Helen Lee Bouygues and Mr. Laurent Mignon as Directors, as well as for Ms. Valérie Della Puppa-Tibi, as Director representing employee shareholders,

● Setting of the aggregate annual compensation amount for directors and approval of the compensation policy applicable to directors,

● Approval of the compensation components paid during 2024 or allocated for that year and of the compensation policy applicable in 2025 to the Chairman and Chief Executive Officer,

● Various delegations of competence and financial authorizations granted to the Board of Directors.

In addition, as part of a formal item put on the agenda, the Shareholders' Meeting discussed the Sustainability & Climate - Progress Report 2025, reporting on the progress made in the implementation of the Corporation's ambition with respect to sustainable development and the energy transition towards carbon neutrality and its related targets by 2030.

The full results of the votes as well as the presentations made to shareholders is available starting on May 30, 2025 on the totalenergies.com website.

**Renewables in Spain: TotalEnergies Inaugurates its Largest Solar Field in Europe**

On May 22, 2025, TotalEnergies inaugurated its largest solar power plant cluster in Europe, near Sevilla in Spain. It consists of five solar projects with a total installed capacity of 263 MW. This solar field is expected to produce 515 GWh per year of renewable electricity, equivalent to the consumption of over 150,000 Spanish households, and is expected to avoid 245,000 tons of CO<sub>2</sub> emissions per year. Most of the electricity produced is expected to be sold through long-term power purchase agreements (PPAs) and the rest is expected to be sold on the wholesale market.

Declared of strategic interest by the Junta de Andalucía, the installation of the 400,000 bifacial solar panels with trackers has provided a significant economic boost to the local economy, involving 14 companies of which more than a half are Sevillian and generating 800 direct and indirect jobs.

**Canada: TotalEnergies Signs an Agreement to Export 2 Mtpa of LNG for 20 years from the Ksi Lisims LNG Project**

On May 19, 2025, TotalEnergies signed a Sales and Purchase Agreement (SPA) with Ksi Lisims LNG for the purchase of 2 Mtpa of LNG for 20 years from the future liquefaction plant, subject to the final investment decision of the project.

In parallel, TotalEnergies acquired a 5% stake in Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project. This acquisition grants TotalEnergies the option to increase its stake in Western LNG and/or take a direct stake in the plant up to approximately 10% when the final investment decision is made.

**Biogas: TotalEnergies and HitecVision Partner to Pursue the Development of Polska Grupa Biogazowa in Poland**

On May 14, 2025, TotalEnergies signed a Sale and Purchase Agreement (SPA) with HitecVision, a Norwegian investment company specializing in energy, for the sale of 50% of Polska Grupa Biogazowa ("PGB") for an enterprise value of €190 million.

With 20 units in operation and a production capacity of over 450 GWh of equivalent biomethane, PGB is the leader in biogas in Poland. Founded in 2007 and acquired by TotalEnergies in 2023, PGB operates biogas production units that generate electricity and heat through cogeneration (CHP). PGB currently has 2 plants under construction in Poland and aims to diversify into biomethane production. PGB's goal is to reach 2 TWh of equivalent biomethane production capacity by 2030.

The completion of the transaction is subject to obtaining applicable governmental and regulatory approvals.

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**Oman: TotalEnergies and OQEP break ground at Marsa LNG**

On May 1, 2025, under the patronage of His Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy & Minerals of the Sultanate of Oman, Patrick Pouyanné, Chairman and CEO of TotalEnergies, and Ahmed Al Azkawi, OQ Exploration and Production CEO, celebrated the ground-breaking of the Marsa LNG plant, in the port of Sohar, northern Oman, one year after the final investment decision.

The 1 million ton per year (Mt/y) liquefaction plant is being built by Marsa LNG LLC, a joint company between TotalEnergies (80%) and OQEP (20%). The LNG production, which is expected to start in the first quarter of 2028, is primarily intended to serve the marine fuel market (LNG bunkering) in the Gulf.

*One of the lowest carbon intensity LNG plants in the world*

The Marsa LNG plant is fully electrified and combined with a 300 megawatt-peak (MWp) photovoltaic solar farm that is expected to supply the equivalent of the plant's annual energy needs. Marsa LNG is expected to therefore be one of the lowest carbon intensity LNG plants in the world, with less than 3 kg CO<sub>2</sub>e/boe of scope 1 and 2 emissions. For reference, this is 90% lower than the average carbon intensity of LNG plants in the world, which stands around 35 kg CO<sub>2</sub>e/boe<sup>2</sup>.

*The first marine LNG bunkering hub in the Middle East*

Ideally located at the entrance to the Gulf, the Marsa LNG site has been selected to establish the first LNG bunkering hub in the Middle East.

A charter contract for a new LNG bunkering vessel has been signed by Marsa LNG LLC. This vessel, named Monte Shams in reference to the Jabal Shams or the "Mountain of the Sun" in north-eastern Oman, is under construction and is expected to be stationed in Sohar from 2028, where it is expected to supply LNG to a wide range of vessels (container ships, tankers, large cruise ships).

In the maritime industry, LNG is an immediately available transition fuel allowing a reduction of greenhouse gas (GHG) emissions by approximately 20% compared to fuel oil. Ships using LNG in Sohar, is expected to further reduce their GHG emissions thanks to the low carbon intensity of the LNG production in Marsa LNG, and local bunkering without the need to transport LNG to a distant bunkering port.

**Capital increase reserved for employees of TotalEnergies in 2025**

On April 30, 2025, in accordance with its policy in favor of employee shareholding, TotalEnergies SE (the "Corporation") announced the implementation of 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 8.4% of TotalEnergies SE's share capital as of March 31, 2025.

The twenty-second resolution of the Shareholders' Meeting held on May 24, 2024 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.

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<sup>2</sup> Source IEA: The Oil and Gas Industry in Net Zero Transitions report from Nov 2023.

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The Board, pursuant to the above-mentioned authorization, decided during its meeting on October 30, 2024, to carry out, in 2025, 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 0.75% of the share capital as of the date of the Board's decision.

● 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.

● 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.

By delegation of the Board of directors, the Chairman and CEO, on April 29, 2025:

● confirmed the subscription period as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o opening on May 2, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o closing on May 15, 2025 (included)

● fixed the subscription price to 42.50 € per share, corresponding to the arithmetic average of the closing prices of the TotalEnergies shares on Euronext Paris over the 20 trading sessions preceding April 29, 2025, reduced by a 20% discount, and rounded off to the highest tenth of a euro.

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**FORWARD-LOOKING STATEMENTS**

*This document may contain forward-looking statements (including 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 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 "will", "should", "could", "would", "may", "likely", "might", "envisions", "intends", "anticipates", "believes", "considers", "plans", "expects", "thinks", "targets", "commits," "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, technological innovations, meteorological conditions and events, as well as socio-demographic, 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.*

*Readers are cautioned not to consider forward-looking statements as accurate, but as an expression of the Company's views only as of the date this document is published. TotalEnergies SE and its subsidiaries have no obligation, make no commitment and expressly disclaim any responsibility to investors or any stakeholder to update or revise, particularly as a result of new information or future events, any forward-looking information or statement, objectives or trends contained in this document. In addition, the Company has not verified, and is under no obligation to verify any third-party data contained in this document or used in the estimates and assumptions or, more generally, forward-looking statements published in this document.*

*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 latest annual report on Form 20-F filed with the SEC.*

*Additionally, the developments of environmental and climate change-related issues in this document are based on various frameworks and the interests of various stakeholders which are subject to evolve independently of our will. Moreover, our disclosures on such issues, including climate-related disclosures, may include information that is not necessarily "material" under US securities laws for SEC reporting purposes or under applicable securities law.*

*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 the Company 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.*

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## Exhibit 99.3

**Exhibit 99.3**

**CAPITALIZATION AND INDEBTEDNESS OF TOTALENERGIES**

**(unaudited)**

The following table sets out the unaudited consolidated capitalization and long-term indebtedness, as well as short-term indebtedness, of TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE (collectively, "TotalEnergies") as of June 30, 2025, prepared on the basis of IFRS. Currency amounts are expressed in U.S. dollars ("dollars" or "$") or in euros ("euros" or "€").

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| | |
|:---|:---|
|  | **At June 30, 2025** |
|  | **(in millions of dollars)** |
| **Current financial debt, including current portion of non-current financial debt** |  |
| Current portion of non-current financial debt | 4881 |
| Current financial debt | 9756 |
| Current portion of financial instruments for interest rate swaps liabilities | 346 |
| Other current financial instruments — liabilities | 515 |
| Financial liabilities directly associated with assets held for sale | 67 |
| **Total current financial debt** | 15565 |
| **Non-current financial debt** | 47584 |
| **Non-controlling interests** | 2360 |
| **Shareholders' equity** |  |
| Common shares | 7262 |
| Paid-in surplus and retained earnings | 128103 |
| Currency translation adjustment | (13564) |
| Treasury shares | (5159) |
| **Total shareholders' equity — TotalEnergies share** | 116642 |
| **Total capitalization and non-current indebtedness** | 166586 |

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As of June 30, 2025, TotalEnergies SE had an issued share capital of 2,281,206,254 ordinary shares with a par value of €2.50 per share, of which 77,953,973 were treasury shares. For more information on the delegations of authority and powers granted to the Board of Directors with respect to share capital increases and authorization for share cancellation, see Exhibit 15.1 (section 4.4.2, chapter 4) to the Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission on March 31, 2025.

As of June 30, 2025, approximately $9,111 million of TotalEnergies' non-current financial debt was secured and $38,474 million was unsecured, and all of TotalEnergies' current financial debt of $15,565 million was unsecured. As of June 30, 2025, TotalEnergies had no outstanding guarantees from third parties relating to its consolidated indebtedness. On July 1, 2025, TotalEnergies Capital International issued three series of notes, guaranteed by TotalEnergies SE, under its Euro Medium Term Note Program in aggregate principal amount of €3 billion (or approximately $3.5 billion using the €/$ exchange rate on July 18, 2025 of €1=$1.1645, as released by the Board of Governors of the Federal Reserve System on July 18, 2025), comprising €1,000,000,000 principal amount of 3.075% notes maturing in July 2031, €1,100,000,000 principal amount of 3.647% Notes maturing in July 2035 and €900,000,000 principal amount of 4.060% notes maturing in July 2040.

For more information about TotalEnergies' off-balance sheet commitments and contingencies, see Note 13.1 of the Notes to TotalEnergies' audited Consolidated Financial Statements in its Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission on March 31, 2025.

Except as disclosed herein, there have been no material changes in the consolidated capitalization, indebtedness and contingent liabilities of TotalEnergies since June 30, 2025.

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