Financial Data and Key Metrics Changes - The first quarter environment was marked by a 30% drop in oil and gas prices and a 20% decrease in European refining margins, leading to a debt adjusted cash flow of $4.5 billion, down 31% year-on-year, and an adjusted net income of $1.8 billion, a decrease of 35% year-on-year [13][24][25]. Business Line Data and Key Metrics Changes - Upstream production was 3.1 million barrels of oil equivalent per day, an increase of 5% year-on-year and stable compared to the previous quarter [14]. - The Integrated Gas, Renewables and Power (IGRP) segment reported adjusted net operating income of $0.9 billion, an increase of over 50% year-on-year, driven by higher volumes and resilient LNG pricing [16]. - The Exploration & Production (E&P) segment generated adjusted net operating income of $0.7 billion, down from $1.7 billion a year ago, primarily due to the price environment [19]. - Refining and Chemicals generated $0.4 billion of adjusted net operating income, down 50% compared to the same quarter last year, impacted by a 20% decrease in refining margins [21]. - Marketing & Services generated $0.3 billion of adjusted net operating income, a decrease of 12% year-on-year, affected by low project demand, particularly in China and France [23]. Market Data and Key Metrics Changes - The Group's first quarter adjusted net income was $1.8 billion compared to $2.8 billion in the same quarter last year, reflecting the impact of lower oil prices and refining margins [24]. - The Group's debt adjusted cash flow was $4.5 billion compared to $6.4 billion in the same quarter last year, driven by the drop in oil and gas prices [25]. Company Strategy and Development Direction - The company emphasized the importance of self-help and maintaining a strong balance sheet to weather the current crisis, with a focus on cash flow management and strategic investments [8][10]. - The company is committed to high-quality growth in the IGRP segment, which is key to energy transition and diversifying into low-carbon electricity [17]. - The company plans to reduce organic CapEx by $3 billion and has implemented a working capital release action plan [69][81]. Management's Comments on Operating Environment and Future Outlook - Management anticipates that Q2 results will be much lower due to the broader impact of COVID-19, particularly in Europe and the U.S. [34][36]. - The company is facing unprecedented market conditions with significant uncertainty regarding the recovery of the economy and oil prices [36][88]. - Management expressed confidence in the company's fundamentals, including a low cash breakeven and low gearing, which positions the company well to navigate the crisis [51][85]. Other Important Information - The company has implemented measures to ensure the health and safety of employees during the COVID-19 pandemic, including remote work and strict site access controls [39][41]. - The company has decided to stop share buybacks and has proposed a limited one-shot scrip option for the final dividend [76][90]. Q&A Session Summary Question: LNG pricing divergence and exposure to U.S. LNG - Management noted that LNG activity has been resilient, with expectations for the second quarter to remain strong despite challenges in the gas markets [100][101]. Question: Breakdown of organic versus inorganic investments - Management indicated that the budget consists of approximately $10 to $11 billion for organic investments and $3 to $4 billion for inorganic investments [109]. Question: Impact of oil price fall on future results - Management acknowledged the complexities in estimating the impact of oil prices on future results but emphasized the resilience of the IGRP segment [100].

First quarter 2020 results 2020 business update at 30 $/b Integrating climate into strategy May 5, 2020 2020 business update at 30 $/b Facing the Covid-19 challenge Priority to people health & safely maintain all operations | --- | --- | --- | --- | --- | --- | --- | |-------|-------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------|-----------------|-------|-------|-------| | | | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from … to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission ...

Financial Data and Key Metrics Changes - The company faced a weaker environment in 2019, with average oil prices down by approximately 20%, gas prices down by about 10%, and refining margins down by around 40% [15][66] - Despite this, the company demonstrated resilience, with net adjusted results down by only 14% and cash flow increasing by $2 billion to over $26 billion, marking an 8% increase [15][66] - Adjusted net income was reported at $11.8 billion, with a return on equity of 10.4%, the highest among peers [71][94] Business Line Data and Key Metrics Changes - Upstream generated $18 billion in cash flow, up 1% year-over-year, while iGRP saw an impressive 8% growth to $3.7 billion, driven by a 60% increase in LNG sales [67][68] - Downstream maintained stable cash flow at $6.6 billion despite a 10% decrease in refinery margins [68][82] - Refining & Chemicals net operating result was $3.0 billion, reflecting lower margins, while Marketing & Services contributed $1.7 billion [74][82] Market Data and Key Metrics Changes - Oil demand grew by 1 million barrels per day in 2019, slightly below the three-year average of 1.5 million barrels per day [41][42] - LNG market growth accelerated to 13% in 2019, driven by lower prices and favorable local climate policies [52][54] - European gas demand for power generation saw significant growth, with a notable increase in gas power plant load factors due to cheaper LNG [59][60] Company Strategy and Development Direction - The company focuses on operational excellence and cost control as key pillars of its strategy, aiming to deliver the most from its assets [17][20] - The strategy includes being countercyclical, taking advantage of market opportunities, and enhancing LNG production capabilities [20][22] - The company aims to reduce its breakeven point below $25 per barrel and has set ambitious targets for greenhouse gas emissions reduction [70][98] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a weaker commodity price environment but emphasized the company's ability to maintain cash flow and operational performance [63][66] - The outlook for 2020 includes cautious optimism regarding demand growth, despite uncertainties related to the virus outbreak in China [44][45] - The company remains committed to its strategic goals, including production growth and cost discipline, with expectations of 2% to 4% production growth in 2020 [103] Other Important Information - The company reported a total recordable injury rate of 0.8, indicating ongoing improvements in safety, although four fatalities were noted, prompting a renewed focus on zero fatal accidents [26][28] - The company achieved significant cost savings of $4.7 billion in 2019 and targets an additional $5 billion in 2020 [75][90] - The company maintains a strong balance sheet with a gearing ratio of 20.7%, aiming to keep it below 20% [86][87] Q&A Session Summary Question: How does the company plan to manage the impact of the virus outbreak in China on demand? - Management indicated that while there is immediate demand disruption, it is too early to quantify the long-term impact, and they are cautious not to overreact [45] Question: What are the expectations for LNG production growth in 2020? - The company expects LNG production to continue growing, supported by new field startups and a strong market demand [102][103] Question: How is the company addressing safety concerns following recent incidents? - Management emphasized the importance of safety as a core value and is implementing measures to ensure zero fatal accidents, including working closely with contractors [28][10]

Results and Outlook February 2020 Safety, Total's core value Cornerstone of operational efficiency & sustainability Total Recordable Injury Rate for Total and peers* Per million man-hours 1 2 | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | 0.8 | | | | | | | Staff | | | | 5 | 2014 2019 Deploring 4 fatalities in 2019 * Group TRIR excl. Specialty Chemicals Peers: BP, Chevron, ExxonMobil, Shell 2019 average age of ...

TOTAL S.A. (TOT) Q3 2019 Earnings Conference Call October 30, 2019 9:00 AM ET Company Participants Jean-Pierre Sbraire - Chief Financial Officer Conference Call Participants Lydia Rainforth - Barclays Biraj Borkhataria - RBC Oswald Clint - Bernstein Thomas Adolff - Credit Suisse Irene Himona - Société Générale Jon Rigby - UBS Jason Gammel - Jefferies Lucas Herrmann - Exane Christopher Kuplent - Bank of America Bertrand Hodee - Kepler Cheuvreux Henry Tarr - Berenberg Michele Della Vigna - Goldman Sachs Chris ...

TOTAL S.A. (TOT) Q2 2019 Earnings Conference Call July 25, 2019 8:00 AM ET Company Participants Patrick Pouyanné - Chairman and Chief Executive Officer Patrick de La Chevardière - Chief Financial Officer Jean-Pierre Gerard Claude Sbraire - Deputy Chief Financial Officer Conference Call Participants Irene Himona - Société Générale SA Oswald Clint - Sanford C. Bernstein Thomas Adolff - Credit Suisse Group AG Lydia Rainforth - Barclays Plc Christyan Malek - JPMorgan Chase & Co. Alastair Syme - Citigroup Michel ...

Total S.A. (TOT) Q1 2019 Earnings Conference Call April 26, 2019 8:00 AM ET Company Participants Patrick de La Chevardière - Chief Financial Officer Conference Call Participants Alastair Syme - Citi Oswald Clint - Bernstein Biraj Borkhataria - RBC Thomas Adolff - Crédit Suisse Jon Rigby - UBS Lydia Rainforth - Barclays Irene Himona - Societe Generale Christopher Kuplent - Bank of America Lucas Herrmann - Deutsche Bank Jason Gabelman - Cowen Operator Good afternoon, ladies and gentlemen. Thank you for standi ...

20-F 1 total-form20f.htm FORM 20-F UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ OR SHELL CO ...

Total S.A. (TOT) Q4 2018 Earnings Conference Call February 7, 2019 9:00 AM ET Company Participants Patrick Pouyanne – Chairman and Chief Executive Officer Patrick de La Chevardière – Chief Financial Officer Brendan Warn – Senior Vice President, Investor Relations Philippe Sauquet – President of Gas, Renewables & Power and President of Strategy-Innovation Arnaud Breuillac – President of Exploration & Production Conference Call Participants Oswald Clint – Bernstein Michele Della Vigna – Goldman Sachs Thomas A ...