TotalEnergies SE (NYSE:TTE) Q4 2023 Earnings Conference Call February 7, 2024 4:30 AM ET Company Participants Renaud Lions - Investor Relations Bernard Pinatel - President, Refining & Chemicals Jean-Pierre Sbraire - Chief Financial Officer Patrick Pouyanné - Chairman, Chief Executive Officer and President Stephane Michel - President, Gas, Renewables & Power Conference Call Participants Irene Himona - Societe Generale Oswald Clint - Bernstein Michele Vigna - Goldman Sachs Martijn Rats - Morgan Stanley Lucas ...

Patrick Pouyanne - Chairman, CEO & President Jean-Pierre Sbraire - CFO Ladies and gentlemen, welcome to the TotalEnergies Third Quarter 2023 Results Conference Call. As explained in our total strategy and outlook presentation end of September, we have stayed the course, and this quarter illustrates all the strategies in motion in all of business segments. Oil and gas first, as you know, we have developed organically a deep portfolio of projects. But our low cost and low emissions, which will offer a growth ...

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 information on pages 1-38 of this exhibit concerning TotalEnergies with respect to the third quarter of 2023 and nine months ended September 30, 2023 has been derived from TotalEnergies' unaudited consolidated balance sheets as of Sept ...

TotalEnergies SE (NYSE:TTE) Q2 2023 Earnings Conference Call July 27, 2023 6:00 AM ET Company Participants Patrick Pouyanné - Chief Executive Officer Jean-Pierre Sbraire - Chief Financial Officer Conference Call Participants Oswald Clint - Bernstein Irene Himona - Société Générale Christopher Kuplent - Bank of America Lydia Rainforth - Barclays Biraj Borkhataria - RBC Kim Fustier - HSBC Lucas Herrmann - Exane Jason Gabelman - TD Cowen Henri Patricot - UBS Paul Cheng - Scotiabank Operator Ladies and gentleme ...

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 information on pages 1-40 of this exhibit concerning TotalEnergies with respect to the second quarter of 2023 and six months ended June 30, 2023 has been derived from TotalEnergies' unaudited consolidated balance sheets as of June 30, ...

TotalEnergies SE (NYSE:TTE) Q1 2023 Earnings Conference Call April 27, 2023 7:30 AM ET Company Participants Patrick Pouyanné - Chief Executive Officer Jean-Pierre Sbraire - Chief Financial Officer Conference Call Participants Oswald Clint - Bernstein Christopher Kuplent - Bank of America Irene Himona - Société Générale Martijn Rats - Morgan Stanley Biraj Borkhataria - RBC Michele della Vigna - Goldman Sachs Lydia Rainforth - Barclays Lucas Herrmann - Exane Matt Lofting - JPMorgan Kim Fustier - HSBC Amy Wong ...

Financial Performance - In 2022, TotalEnergies generated cash flow from operating activities of $47.4 billion and reported IFRS net income of $20.5 billion, with an adjusted net income of $36.2 billion, representing a return on equity of 32% and a return on capital employed of 28%[34]. - TotalEnergies reported sales of $280,999 million in 2022, a 36% increase compared to $205,863 million in 2021[68]. - Adjusted EBITDA for 2022 was $71,578 million, up 69% from $42,302 million in 2021[66]. - Net income attributable to TotalEnergies was $20,526 million in 2022, compared to $16,032 million in 2021, reflecting a 28% increase[66]. - Cash flow from operating activities reached $47,367 million in 2022, compared to $30,410 million in 2021[65]. - TotalEnergies' cash flow before working capital changes was $45,729 million in 2022, a 57% increase from $29,140 million in 2021[73]. - The company reported a net cash flow of $29,426 million in 2022, up from $15,833 million in 2021, driven by increased operating cash flow[77]. - TotalEnergies' average daily production in Russia for 2022 included 65 kb/d of liquids and 2,165 Mcf/d of natural gas, accounting for approximately 17% of its total hydrocarbon production[212][214]. Segment Performance - The integrated Gas, Renewables & Power segment reported IFRS net income of $9.6 billion and cash flow from operating activities of $9.7 billion, with nearly 17 GW of gross renewable capacity installed by the end of 2022[35]. - The Exploration & Production segment achieved IFRS net income of $5.1 billion and cash flow from operating activities of $27.7 billion, contributing $26.0 billion to the Company's net cash flow in 2022[36]. - Downstream reported IFRS net income of $8.2 billion and cash flow from operating activities of $11.8 billion, supported by a refinery utilization rate of 82%[37]. - The integrated Gas, Renewables & Power (iGRP) segment's external sales in 2022 were $48,753 million, a 59% increase from $30,704 million in 2021[105]. - The Exploration & Production (EP) segment's external sales in 2022 were $9,942 million, a 37% increase from $7,246 million in 2021, while net operating income decreased by 36% to $5,108 million[122]. - The Downstream segment's external sales reached $222,279 million in 2022, up 32% from $167,888 million in 2021, with adjusted net operating income increasing to $8,852 million[130]. - Total refinery throughput in 2022 was 1,472 kb/d, up from 1,180 kb/d in 2021, with a utilization rate of 82%[135]. Investments and Capital Expenditures - TotalEnergies plans to allocate net investments of $16-18 billion in 2023, including $5 billion dedicated to low-carbon energies[50]. - Total expenditures in 2022 were $19,802 million, with 54% allocated to the Exploration & Production segment, 33% to integrated Gas, Power & Renewables, 7% to Refining & Chemicals, and 6% to Marketing & Services[172]. - TotalEnergies' capital expenditures in 2022 included approximately 60% for additions to intangible assets and property, plant, and equipment[185]. Shareholder Returns - TotalEnergies confirmed a shareholder return policy for 2023 targeting a cash payout of between 35% and 40%, including a 7.2% increase in interim dividends to €0.74/share and share buybacks of $2 billion[51]. - Fully-diluted earnings per share rose to $7.85 in 2022 from $5.92 in 2021, indicating improved shareholder returns[71]. - TotalEnergies bought back 140,207,743 shares in 2022, representing 5.35% of the share capital, compared to 1.4% in 2021[71]. Market Conditions and Pricing - The average Brent price increased by 43% to $101.3/b in 2022 from $70.9/b in 2021[67]. - TotalEnergies' average gas price realization rose by 99% to $13.15/Mbtu in 2022 from $6.60/Mbtu in 2021[67]. - The variable cost margin for Refining Europe was $94.1/t in 2022, significantly higher than $10.5/t in 2021[67]. - The company anticipates refining margins in Europe to remain supported by the effects of the European embargo on Russian petroleum products[46]. Strategic Initiatives - TotalEnergies intends to spin off its affiliate, TotalEnergies EP Canada, by listing it on the Toronto stock exchange, retaining a 30% stake and distributing 70% of shares to shareholders[52]. - TotalEnergies has committed to halting all purchases of Russian oil and petroleum products by the end of 2022[204]. - The company has gradually suspended its activities in Russia that do not contribute to the security of Europe's energy supply[203]. Impairments and Financial Adjustments - The company recorded an impairment of $4.1 billion related to the Arctic LNG 2 project as of March 31, 2022, due to risks from international sanctions[197]. - TotalEnergies recorded a $3.1 billion impairment charge in Q3 2022 primarily due to the impact of international sanctions on its Novatek stake[205]. - For the full year 2022, TotalEnergies reported a total impairment charge of $14.8 billion related to its operations in Russia[209]. - The company’s total adjustments to net income in 2022 amounted to ($15,671) million, primarily due to impairments related to Russia and other exceptional provisions[69]. Balance Sheet and Debt Management - The company's cash and cash equivalents at the end of 2022 were $33,026 million, an increase from $21,342 million at the end of 2021[170]. - TotalEnergies' non-current financial debt decreased to $45,264 million at year-end 2022 from $49,512 million at year-end 2021[176]. - The net-debt-to-capital ratio was 7.0% as of December 31, 2022, a decrease from 15.3% at year-end 2021[183]. - Shareholders' equity at year-end 2022 was $114,570 million, slightly down from $114,999 million at year-end 2021[178].

TotalEnergies SE (NYSE:TTE) Q4 2022 Earnings Conference Call February 8, 2023 5:00 AM ET Company Participants Renaud Lions - SVP, IR Thierry Pflimlin - President, Marketing & Services Patrick Pouyanne - Chairman, CEO & President Jean-Pierre Sbraire - CFO Conference Call Participants Oswald Clint - Sanford C. Bernstein & Co. Christyan Malek - JPMorgan Chase & Co. Irene Himona - Societe Generale Amy Wong - Crédit Suisse Christopher Kuplent - Bank of America Merrill Lynch Lucas Herrmann - BNP Paribas Exane Hen ...

TotalEnergies SE (NYSE:TTE) Q3 2022 Earnings Conference Call October 27, 2022 7:30 AM ET Company Participants | --- | --- | |----------------------------|-----------------------------------------------| | | | | | Jean-Pierre Sbraire - Chief Financial Officer | | | Conference Call Participants | | | Irene Himona - Societe Generale | | | Michele Della Vigna - Goldman Sachs | | | Martijn Rats - Morgan Stanley | | | Christopher Kuplent - Bank of America | | Oswald Clint - Bernstein | | | Lydia Rainforth - Barcl ...

TotalEnergies TotalEnergies Energy Outlook 2022 Energy trends since 2000: transition has started GDP growth decoupled from total energy demand and CO2 emissions growth CAGR 2000/2019 CO2 emissions Total energy demand Natural gas demand Renewables demand Coal demand Electricity demand GDP 3,5% 3,2% 2,7% 2,5% 2,6% 2,0% 1,9% 1,1% Oil demand Energy int. gains 1,5% 100 110 120 130 140 150 160 170 180 190 200 90 Index of key indicators 2000=100 Power fastest growing energy, oil slowest one Coal growth, triggered ...