REG-TotalEnergies SE Trading Statement

TotalEnergies SEAnnouncement

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Trading Statement

 

The main indicators, estimated financial information and key elements
impacting TotalEnergies’ (Paris:TTE) (LSE:TTE) (NYSE:TTE) second quarter
2025 aggregates are shown below:
 Main indicators                                                                      
                                                      2Q25  1Q25   4Q24   3Q24  2Q24  
 €/$                                                  1.13  1.05   1.07   1.10  1.08  
 Brent                                      ($/b)     67.9  75.7   74.7   80.3  85.0  
 Average liquids price * ((1))              ($/b)     65.6  72.2   71.8   77.0  81.0  
 Average gas price * ((1))                  ($/Mbtu)  5.63  6.60   6.26   5.78  5.05  
 Average LNG price ** ((1))                 ($/Mbtu)  9.10  10.00  10.37  9.91  9.32  
 European Refining Margin Marker (ERM) ***  ($/t)     35.3  29.4   25.9   15.4  44.9  
 * Sales in $ / Sales in volume for consolidated affiliates.                          
 ** Sales in $ / Sales in volume for consolidated and equity affiliates.              
 *** 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.                                                                       
 ((1) )Does not include oil, gas and LNG trading activities, respectively.            


Main elements impacting the quarter aggregates


 * Hydrocarbon production of the second quarter 2025 is expected to be at the
midpoint of the quarterly guidance, around 2.5% growth compared to second
quarter 2024.

 * Exploration & Production results are expected to reflect the evolution of
the environment ($7/b average liquids price decrease vs first quarter 2025),
in line with published sensitivities while being supported by accretive
production growth both in results and cash.

 * Integrated LNG results are expected to reflect the evolution of the
environment (average LNG selling price of $9.1/Mbtu vs $10.0/Mbtu in the first
quarter of 2025, reflecting crude price evolution) and low volatility in gas
trading.

 * Integrated Power results are expected to be between $500 and 550 million, and
quarterly cash flow in line with the annual guidance.

 * Refining & Chemicals results are expected to reflect the improvement of
refining margins (ERM growing to $35.3/t vs $29.4/t in the first quarter) and
of the refining utilization rate. Downstream results will benefit from the
positive effect of seasonality in Marketing & Services, whose results are
expected to be at the same level as the second quarter 2024.
 2025 Sensitivities*                                                                                                                                         
                                        Change             Estimated impact on adjusted net operating income  Estimated impact on cash flow 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.                                                                                                                       


Disclaimer

Unless otherwise stated, the terms “TotalEnergies”, “TotalEnergies
company” and “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities directly or indirectly
controlled by TotalEnergies SE. Likewise, the words “we”, “us” and
“our” may also be used to refer to these entities or their employees. The
entities in which TotalEnergies SE directly or indirectly owns a shareholding
are separate and independent legal entities.

The data presented in this document is based on TotalEnergies’ internal
preliminary reporting and is not audited. This data is not intended to be a
comprehensive summary of all items that will affect TotalEnergies SE’s
results or to provide an estimate of 2025 quarterly results. Actual results
may vary. To the extent permitted by law, TotalEnergies SE disclaims all
liability from the use of this data.

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 annual report on Form
20-F filed with the United States Securities and Exchange Commission
(“SEC”).

Additionally, the developments of climate change and other environmental-or
social 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 disclosures on
climate change and other environmental or social-related issues, may include
information that is not necessarily "material" under US securities laws for
SEC reporting purposes or under applicable securities law.

Financial information by business segment is reported in accordance with the
internal reporting system and shows internal segment information that is used
to manage and measure the performance of TotalEnergies. In addition to IFRS
measures, certain alternative performance indicators are presented, such as
performance indicators excluding certain adjustment items described below
(adjusted operating income, adjusted net operating income, adjusted net
income), return on equity (ROE), return on average capital employed (ROACE),
gearing ratio, operating cash flow before working capital changes, the
shareholder rate of return. These indicators are meant to facilitate the
analysis of the financial performance of TotalEnergies and the comparison of
income between periods. They allow investors to track the measures used
internally to manage and measure the performance of TotalEnergies. The
adjusted results (adjusted operating income, adjusted net operating income,
adjusted net income) are defined as replacement cost results, adjusted for
special items, excluding the effect of changes in fair value. For further
details on the adjustment items, please refer to the last published earnings
statement and notes to the consolidated financial statements.

Euro amounts presented for the fully adjusted-diluted earnings per share
represent dollar amounts converted at the average euro-dollar (€-$) exchange
rate for the applicable period and are not the result of financial statements
prepared in euros.

Cautionary Note to US 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 document, such as “potential reserves” or
“resources”, that the SEC’s guidelines strictly prohibit us from
including in filings with the SEC. US 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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Ftotalenergies.com&esheet=54291269&newsitemid=20250715603542&lan=en-US&anchor=totalenergies.com&index=1&md5=a9ac8a6eb98758355e62303eb9e829d2)
. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on
the SEC’s website sec.gov
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fsec.gov&esheet=54291269&newsitemid=20250715603542&lan=en-US&anchor=sec.gov&index=2&md5=1f7110b491ed9dd0899a06b2ad07a93f)
.



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