Core Viewpoint - TotalEnergies is addressing shareholder concerns regarding its exposure to the Middle East by shutting down or in the process of shutting down production in Qatar, Iraq, and UAE offshore, which represents approximately 15% of its total output [1] Production Impact - The production shutdown in the Middle East accounts for about 15% of TotalEnergies' total output, with these volumes contributing to 10% of the company's Upstream cash flow [1] - Onshore UAE production remains unaffected as it is exported through the Fujairah terminal [1] Financial Implications - The barrels from the Middle East have a lower cash flow from operations (CFFO) compared to the portfolio average due to higher taxation [1] - TotalEnergies anticipates that growth in its accretive barrels will primarily come from outside the Middle East by 2026 [1] - An increase of $8 per barrel in Brent crude prices is projected to offset the expected 2026 CFFO loss from the Iraq, Qatar, and UAE offshore assets at a price of $60 per barrel [1]