#12022 Strategy & Outlook Growing shareholder returns while transitioning to a multi-energy company September 28, 2022 DOHA LNG Carrier P TotalEnergies#22022 Strategy & Outlook 04 Safety: core value 01 Energy markets supported by energy transition 06 2021 economic recovery created market tensions, exacerbated in 2022 by war in Ukraine Oil market tightened by low investment and crises 07 08 Europe: end of Russian gas dependency creating tensions on LNG and gas markets 09 Growing power market supported by energy transition 02 Growing shareholder returns while transitioning to a multi-energy company TotalEnergies entering a new era: historic high cash generation and "zero" net debt Cash allocation strategy 11 Unique match between Total Energies' strategy and market trends 12 13 14 15 A decade of growth and transformation to build a multi-energy company 16 Accelerating capital investment to support the transformation Special reward to shareholders in 2023: an innovative solution to exit Canadian oil sands 03 Gas 21 A global and integrated LNG top player 22 Unique position to benefit from Europe's new gas demand 23 New opportunities fueling LNG growth without Russia 24 Profitably expanding in Qatar 25 Growing integrated LNG portfolio and cash flow 04 Oil 27 Leveraging our oil portfolio 28 Short-cycle investment capturing high prices 29 Developing new oil projects 30 Growing cash flow to 2027 31 Refining & Chemicals: delivery and transformation 32 Marketing & Services: growing value while transitioning 33 New molecules for energy transition 34 Deploying CCS strategy Table of contents Te TotalEnergies 17 Countering inflation through discipline and efficiency 18 Delivering cash flow growth supporting sustainable dividend growth 19 Significant progress toward Net Zero and clear commitment to reduce emissions over the decade 05 Electricity & Renewables 36 Creating value from integration in electricity 37 Renewables: highly valuable portfolio built through selective transactions and organic growth 38 Secured portfolio of 35 GW by 2025 39 Growing profitable Electricity & Renewables business 06 Investing in TotalEnergies 41 TotalEnergies, a compelling investment case Appendix September 2022 - Strategy and Outlook 2#3TotalEnergies' Executive Committee Patrick Pouyanné Chairman and Chief Executive Officer Bernard Pinatel President, Refining & Chemicals Executive Committee Helle Kristoffersen President, Strategy & Sustainability Jean-Pierre Sbraire Chief Financial Officer Te TotalEnergies Stéphane Michel President, Gas, Renewables & Power Namita Shah President, OneTech, People & Social Engagement Thierry Pflimlin President, Marketing & Services Nicolas Terraz President, Exploration & Production September 2022 Strategy and Outlook 3.#4Te TotalEnergies Safety: core value Objectives 0 Zero fatalities Continuously reducing the TRIR LA Preventing the occurrence of major industrial accidents Maintaining and promoting the health of our employees Total recordable injury rate per million man-hours 1.5 1.0 0.5 2018 2019 Te TotalEnergies 2020 2021 ■BP, Chevron, Exxon Mobil, Shell 3 fatalities in 2022* as of September 2022 TO Total Energies 0.73 September 2022 - Strategy and Outlook 4#5www Te TotalEnergies Energy markets supported by energy transition#62021 economic recovery created market tensions, exacerbated in 2022 by war in Ukraine Te TotalEnergies World GDP growth, energy demand growth % 7% 5% 3% +2.9% 1% -1% -3% 1% -3.1% 5.9% +6.1% +3.2% - Oil price ? -4.9% -5% 2019 2020 2021 2022 2023 Supportive macro GDP: PPP annual growth (%). 2021 expectation and 2022/2023 forecasts. Sources: IMF January and July 2022 World Economic Outlooks, Enerdata. $/b 100 50 50 → Strong economic recovery in 2021 after 2020 recession, created tension on supply chains even before the war → Inflationary pressures driven by soaring energy prices in 2022 → IMF cautious on 2022 and 2023 Central banks countering inflation with higher interest rates September 2022 - Strategy and Outlook 6#7Oil market tightened by low investment and crises Upstream oil investment B$ Europe and North America refining capacity Additions & closures* - Mb/d Te TotalEnergies 0.5 400 200 Investment needed 0 blbil "77 Investment forecast -0.5 -1 Additions Closures 2015 2016 2017 2018 2019 2020 2021 2022e 2023e → Pandemic exacerbated low industry investment → Limited spare global capacity → ~100 B$/y additional investment needed to balance markets, rebuild spare capacity and offset natural decline (~4%/y) . OPEC+ and shale oil industry discipline maintained Developing new conventional oil supply takes years Supportive macro Source: Rystad 2015 2016 2017 2018 2019 2020 2021 2022e 2023e → Pandemic accelerated closures, mainly West of Suez → Distillate short in Atlantic Basin yielding record margins in 2022... → ...amplified by ban on Russian petroleum products from 2023 → Anticipated capacity additions post-2022 mainly East of Suez *Including conversions to biorefineries Source: Company data September 2022 - Strategy and Outlook 7#8Europe: end of Russian gas dependency creating tensions on LNG and gas markets European LNG import potential* Scenario: no Russian gas from 2023 and -3%/y European gas demand Mt 200 Global LNG supply & demand Mt 600 Te TotalEnergies Demand 100 Usable regas capacity Additional LNG imports to fill Russian gap 400 LNG imports as anticipated before crisis 0 200 2021 2022 2023 2024 2025 2026 2027 2021 2022 2023 2024 2025 2026 2027 Pre-FID Under construction Existing supply → A new ~100 Mt/y market for LNG (25% of LNG world demand) → New European LNG demand competing with Asia and driving high prices → EU call on LNG partially offset by potential demand destruction → Medium-term TTF price driven by the cost of US LNG imports → Most new LNG projects coming onstream from 2026+ (Qatar, USA) → LNG prices expected to remain high for several years due to market imbalance → European crisis emphasizes the role of natural gas as a transition fuel Supportive macro * Europe includes European Union + UK + Norway September 2022 - Strategy and Outlook 8#9Growing power market supported by energy transition Te TotalEnergies Worldwide solar and wind capacity GW 5,000 Low carbon power investment B$ 1,500 4,000 2 +3,500 GW RoW 1,000 3,000 USA 2,000 1,000 0 2021 2025 2030 Europe 500 China 2015 +3%/y Growth 2015-20 2020 x1.5-x2 Required annual investment Annual investment to 2030 → Power: the fastest growing energy market globally (+5.6% in 2021) → Europe and USA: ~40% of solar and wind capacity growth → Flexible power investments necessary to complement renewables intermittency → ~700 B$ annual investment in renewable power and electric networks at present → ~1,000-1,500 B$/y required from 2023 to achieve national carbon neutrality pledges Supportive macro Source: TEO 2022, Momentum scenario Source: IEA September 2022 - Strategy and Outlook 9#10Te TotalEnergies Growing shareholder returns while transitioning to a multi-energy company Russia excluded from outlook#11Unique match between TotalEnergies' strategy and market trends Te TotalEnergies Oil Highgraded portfolio → 50% Upstream portfolio change since 2015: accretive acquisitions (Maersk in 2018, Brazil in 2021), divestment from high-cost/high- emission assets → > 100% oil Reserves Replacement Ratio over 2015-21 (without Russia) → Stable production: 1.3-1.35 Mbopd over 2022-27 Reduced costs, breakeven and emissions LNG Built a unique globally integrated LNG position → Acquisition of Engie LNG portfolio in 2018 → Future growth opportunities: Qatar, US, PNG, Mozambique → #1 US LNG exporter → #1 Europe regas capacity holder Large portfolio to deliver LNG growth without Russia Electricity & Renewables Accelerated development of a profitable Renewable portfolio → 35 GW by 2025 fully secured → Portfolio worth > 35 B$ → Driving profitability from competitive acquisitions and integration Leveraging strong balance sheet in volatile power markets Balanced strategy between Oil, LNG & Electricity Growing returns while transitioning September 2022 - Strategy and Outlook 11#12Total Energies entering a new era: historic high cash generation and "zero" net debt Te TotalEnergies CFFO(1) B$ 50 40 40 30 20 10 10 Breakeven (3) $/boe Brent $/b 120 Gas surplus (2) 100 100 80 80 60 60 40 40 20 20 0 2004 2008 2012 2016 2020 2021 2x1H22 Excluding 2014 Russia Growing returns while transitioning 1. Before working capital variation 2. Gas surplus cash flow generated at NBP/TTF > 10 $/Mbtu 3. Pre-dividend organic cash breakeven < 25 $/boe Net debt B$ 30 20 10 0 End-2014 Mid-2022 September 2022 - Strategy and Outlook 12#13Cash allocation strategy Guidance of 35% - 40% cash payout through the cycles 1 Dividend A sustainable dividend through the cycles Dividend Increase supported by underlying cash flow growth & comforted by balance sheet and share buybacks 2 Capex Capex supporting balanced transition strategy 3 Balance sheet Grade A credit rating through the cycles Flexibility to capture counter cyclical opportunities 4 Te TotalEnergies Surplus cash-flow Sharing surplus cash flow from high oil and gas prices through buybacks + special dividends in case of very high prices 2022: +5% interim dividends (0.69 €/share) 14-18 B$/y End 2022: Gearing ~5% Growing returns while transitioning 2022 cash payout > 35% 2022: 7 B$ share buybacks +1 €/share special interim dividend September 2022 - Strategy and Outlook | 13#14Special reward to shareholders in 2023: an innovative solution to exit Canadian oil sands Te TotalEnergies Surmont & Fort Hills Spin-off solution → → SpinCo to hold Surmont + Fort Hills, plus midstream and trading-related activities Listing on TSX TotalEnergies to retain minority shareholding temporarily to smooth transition Exit rationale → Asset with growth potential not fitting with Total Energies' low- carbon strategy → 2022 CFFO > 1.5 B$ To be submitted to vote at next Annual Shareholders' Meeting → May 2023 Growing returns while transitioning Direct reward to TotalEnergies shareholders September 2022 - Strategy and Outlook 14.#15A decade of growth and transformation to build a multi-energy company Energy production PJ/d (excluding Russia) Energy sales PJ/d (excluding Russia) Te TotalEnergies 20 20 +4%/y New molecules Electricity LNG 20 20 10 10 10 Pipeline gas 10 2021 2027 2030 Growing returns while transitioning Oil 10 2021 2027 2030 New molecules Electricity LNG Gas excl. LNG Oil Maintaining the engine of the transformation → Aligning sales to demand & production Gas → Growing LNG production without Russia → Sustaining domestic production Electricity & Renewables → Creating value from integration in electricity → Renewables: 100 GW by 2030, ROE > 10% Oil products New molecules → Growing biofuels (SAF), biogas, CCS business → Launching first clean H2 projects September 2022 - Strategy and Outlook 15#16Accelerating capital investment to support the transformatione TotalEnergies Oil New greenfield & Exploration Electricity & Renewables 14-18 B$/y 33% CO. H₂ CO. New molecules LNG & Gas Growing returns while transitioning Capex = organic investments + acquisitions - asset sales → Invest in LNG to address growing demand → Accelerate in energy transition businesses: > 4 B$ in 2022 → Increasing carbon reduction program: 1 B$/y in energy efficiency, CCS, NBS, methane,... → Piloting Capex level vs. price volatility within 14-18 B$/y range September 2022 - Strategy and Outlook 16#17Countering inflation through discipline and efficiency e Keep strict investment criteria Hydrocarbon projects Profitability assessment 50 $/b environment Maintain best in class position Operating costs* $/boe 15 100 $/t carbon price Focus on low-cost projects < 20 $/boe Capex + Opex < 30 $/b or After-tax breakeven 10 10 5 сл ExxonMobil Chevron Shell BP Te TotalEnergies TotalEnergies Strong focus on energy costs Switch from natural gas to LPG > 50% natural gas reduction vs. 1H21 in our European refineries** Energy saving special program 1 B$ additional Capex in 2023 - 24 Will contribute to lower Scope 1+2 target by 2025 2014 2015 2016 2017 2018 2019 2020 2021 → Unchanged criteria to ensure profitability and sustainability through the cycles → Keep discipline through tight cost control → Targeting < 5 $/boe → Control energy costs and accelerate emissions reduction Growing returns while transitioning * ASC932 ** at comparable run-rate September 2022 - Strategy and Outlook 17#18Delivering cash flow growth Te supporting sustainable dividend growth Total Energies Company underlying cash flow* B$ 30 +7.5 B$ at 60 $/b and 10 $/Mbtu Significant upside to oil and gas prices 25 0065 20 20 +4 B$ at 50 $/b and 8 $/Mbtu 15 2021 including Russia 2027 without Russia CFFO excluding working capital variation, restated to 50 $/b Brent, 8 $/Mbtu TTF/NBP, 3 $/Mbtu HH * Growing returns while transitioning and 35 $/t European refining margin **Including impact of UK Energy Profit Levy Tyra West, Denmark 2022 CFFO sensitivity +3.2 B$/y for +10 $/b Brent +0.5 B$/y** for +2 $/MBtu NBP/TTF September 2022 - Strategy and Outlook 18#19Significant progress toward Net Zero and clear commitment to reduce emissions over the decade 2025 Te TotalEnergies 2015 2021* 2030 Mt CO2e 46 37 Net Zero worldwide Scope 1+2 net emissions vs 2015 -20% < 40 Mt Under review > -40% kt CH4 94 49 on operated activities Methane emissions -50% -80% vs 2020 -23% Net Zero worldwide for indirect emissions(2) Growing returns while transitioning Routine flaring Mm³/d 2.3(1) 0.7 < 0.1 0 Scope 3 intensity 100 in 2015 -8% > -10% > -20% Mt CO₂e 350 285 Scope 3 worldwide Oil Under review > -30% vs 2015 -19% Scope 3 worldwide emissions Mt CO2e 410 400 Under review < 400 * Excluding Covid impact 1. Volumes estimated upon historical data 2. Related to the use by our customers of energy products September 2022 - Strategy and Outlook 19#20G SK RESOLUTE Te TotalEnergies Gas Leveraging and developing our unique integrated LNG position#21Gas A global and integrated LNG top player Te TotalEnergies Equity production (1) In construction Freeport LNG Cove Point LNG Skikda Arzew ECA LNG (1) Vista Pacifico Cameron LNG + T4 Sabine Pass LNG Corpus Christi ELNG (2) Force Majeure Equity production (subject to FID) Long-term supply Long-term sales Regasification terminals in operation or planned Bunkering hub Angola LNG Snøhvit LNG Yamal LNG Qatar Sohar LNG Qalhat LNG & Oman LNG Adnoc LNG Yemen LNG (2) Nigeria LNG + T7 (1) Mozambique LNG (1)(2) Equity production Trading & shipping Regasification & supply of gas #1 US LNG exporter > 10 Mt Ichthys LNG Papua LNG 40 Mt LNG sales in 2022 excluding Russia Gladstone LNG Development of new markets September 2022 - Strategy and Outlook 21#22Unique position to benefit from Europe's new gas demand Te TotalEnergies Upstream assets: Share of gas and oil Gas Lice Those LNG regasification capacity: Onshore FSRU project #2 producer in the North Sea Strong leverage to NBP & TTF Gas production kboe/d #1 LNG regas capacity > 18 Mt/y in Europe (15% market share) Regasification capacity and use 200 100 2021 2022 2023 Netherlands Denmark Norway UK 2026 → Short-cycle increasing 2022 production → Brownfield developments to slow decline (Denmark: Tyra, UK: Quad 9 blowdown) Mt/y 20 20 11 10 2 FSRU projects Existing capacity 2021 2022 2023 2026 → From 50% (2021) to >90% utilization (2022) → 2 Floating regas terminals (FSRU) projects with access to LNG capacity in France and Germany to potentially start by end-2023 September 2022 - Strategy and Outlook 22#23Gas New opportunities fueling LNG growth without Russia e LNG production Mt/y 25 2027+ growth drivers TotalEnergies 20 20 15 10 5 Russia 2021 including Russia +40% Qatar Qatar NFE ECA NLNG T7 North Field East & North Field South 3.5 Mt/y United States Cameron Ph. 2, ECA ~2 Mt/y 2027 2030 without without Russia Russia Papua New Guinea Papua LNG ~2 Mt/y Mozambique Giant Area-1 resources ~3 Mt/y September 2022 - Strategy and Outlook 23#24Gas Ras Laffan liquefaction terminal, Qatar 4 Profitably expanding in Qatar 2 LNG equity production in Qatar Mt/y, TotalEnergies share North Field South +3.5 Mt/y North Field East Qatargas 2 Train 5 2022 2024 2026 2028 2030 Te TotalEnergies Strengthening partnership → Longstanding partner of Qatar → Leveraging European regas capacity Low-cost and low-emission LNG → Total Capex of 3.5 B$ (estimate TotalEnergies share) → ~1.3 Bboe (TotalEnergies share over 27 years) September 2022 - Strategy and Outlook 24#25Gas SK Resolute LNG Carrier SK RESOLUTE PANAMA Growing integrated LNG portfolio and cash flow Te TotalEnergies LNG sales Mt/y 40 Russia +3%/y Spot 20 20 2021 including Russia 2027 without Russia Underlying cash flow* B$ 4 Other LT supply 2 Equity production Russian 2021 including Russia * CFFO excluding working capital variation, restated to 50 $/b Brent, 8 $/Mbtu TTF/NBP, 9 $/Mbtu JKM and 3 $/Mbtu HH > +1 B$ at 50 $/b 2027 without Russia September 2022 - Strategy and Outlook 25#26Te TotalEnergies Oil Leveraging high-graded portfolio#27Oil Leveraging our oil portfolio Maersk Oil, 5 years on Accretive M&A → 5 B$ equity + 2.5 B$ debt → High quality oil assets: • North Sea (Johan Sverdrup), Algeria (Berkine), US GOM (Jack) → 2022 production: ~190 kboe/d CFFO B$ 9 B$ over 2018-22 3 2 1 Growing in Brazil Timely acquisitions of Sépia and Atapu → Successful bid in a 60 $/b environment (Dec '21) → Contributing 2022 CFFO >700 M$ (~25% of purchase price) Mero reaching plateau by 2026 → 4x 180 kb/d FPSOS (First oil 2022-25) Low-cost and low-emission production with future growth options → Lapa Southwest tie-back (FID end-2022) → 2nd FPSO on Sépia and Atapu (FIDs end-2023) → Exploration upside 2018 2019 2020 2021 2022 Production kboe/d (TotalEnergies share) 200 100 Te TotalEnergies Sépia Atapu lara Mero Lapa (op.) 2021 2022 2023 2024 2025 2026 Organic net cash flow B$ 2 1 80 $/b 50 $/b 2021 2022 2023 2024 2025 2026 September 2022 - Strategy and Outlook 27#28Short-cycle investment capturing high prices Te TotalEnergies FPSO PAZFLOR Angola Block 17* Infills and tie-backs already contributing →Block 17 CFFO • 2022: >2 B$ at 90 $/b Production kboe/d (100%) 400 200 Infills & tie-backs 2020 2021 2022 2023 2024 2025 2026 • 2023-26: ~1.5 B$/y at 80 $/b, > 1 B$/y at 50 $/b →3 FIDs in 2022: CLOV Phases 2 & 3, Begonia → Controlling costs through rig contracts extensions and subsea equipment standardization Investing to extend life of 4 FPSOS → License extension to 2045 signed in 2019 → Carbon Footprint Reduction initiatives (CFR): Maintaining GHG <18 kgCO₂e/boe despite decline Capex M$ (TotalEnergies share) 600 400 لاس 0 2020 2021 2022 2023 2024 2025 2026 200 Oil * includes Block 17/92 (Total Energies 38%, op.) and Block 17/06 (Total Energies 30%, op.) Short-cycle projects 30+ short-cycle projects to be mobilized over 2022-24, starting-up 2023-26 → ~1.5 Bboe resources → 75% oil → Average Capex < 4 $/boe → > +1 B$/y from 2024 at 50 $/b September 2022 - Strategy and Outlook 28#29Oil Developing new oil projects Te TotalEnergies Uganda-Tanzania Project sanctioned in February 2022 → Tilenga (upstream) + EACOP (pipeline) • Drilling start end-2022 ⚫ Biodiversity program in action 130 kboe/d*, > 800 M$/y CFFO* → First oil 2025 Cameia-Golfinho New hub in Angola → Blocks 20 & 21 (80% op.) → 70 kboe/d FPSO Leveraging synergies with operations in Angola Targeting FID in 2023, > 500 M$/y CFFO* → First oil from 2026 Exploration discoveries Lean exploration plan (Capex < 500 M$) yielding results for 2027+ growth → Venus (Namibia) . Giant oil and gas discovery • Appraisal and testing beginning 2023 → Block 58 (Suriname) Appraisal ongoing to confirm first development * TotalEnergies share at 50 $/b, at plateau September 2022 - Strategy and Outlook 29#30Growing cash flow to 2027 Liquids production Mboe/d E&P underlying cash flow* B$ Te TotalEnergies 1.5 Russia +1.5%/y 10 1 0.5 2021 including Russia 2027 without Russia LO 5 Russia 2021 including Russia Oil Al-Shaheen, Qatar * CFFO excluding working capital variation, restated to 50 $/b Brent, 8 $/Mbtu TTF/NBP and 3 $/Mbtu HH ~+1 B$ at 50 $/b 2027 without Russia September 2022 - Strategy and Outlook 30#31Refining & Chemicals: delivery and transition R&C contributing to +0.5 B$ CFFO by 2027 Te TotalEnergies Oil TotalEnergies Reinforce competitiveness Improve refining utilization rate From 64% to > 80%, capturing margin-high environment → Accelerate on energy efficiency → Upgrade assets Donges refinery modernization: start-up mid-2023 Grow in Petrochemicals → US ethane cracker and PE Startup in 2022, 1 Mt/y ethylene capacity, full monomer / polymer integration → Advantaged feedstocks From 40% in 2017 to > 60% from 2025 Invest in low-carbon products → Biofuels - outlets and markets Priority to SAF, targeting 10% market share by 2030 (1.5 Mt/y) → Biofuels - feedstock strategy Priority to waste & residues (> 75%), securing supply → Circular polymers 1 Mt of high-value circular polymers in 2030 September 2022 - Strategy and Outlook | 31#32Oil EV Charging and new energies contributing to ~+0.3 B$ CFFO by 2027 MabalEnergies A DEFENSE Marketing & Services: growing value while transitioning Te TotalEnergies TotalEnergies Tota Energie Transition retail Increasing non-petroleum revenues > 50% of retail CFFO in Europe by 2026 → Converting service-stations ~1,000 stations converted into multi- energy sites (EV hub or HPC site) by 2026 Support our customers' energy transition → Being selective on oil sales • • No more fuel oil sold to power generation from 2025 Promoting actively SAF for airline companies → Develop low-carbon markets and new energies Build on 1M B2B customers Develop top tier positions in e-mobility Targeting 150,000 EV charging points → Leverage our network > 800 HPC sites on main corridors in Western Europe by 2026 → Take position on public concessions in large metropolitan areas 60,000 operated charging points by 2026 → Selective B2B fleet charging offer September 2022 - Strategy and Outlook 32#33New molecules for energy transition Targeting 0.5 - 1 B$ CFFO in 2027 H2 CO₂ Te TotalEnergies Biofuels Recycled & biopolymers Targeting 1 Mt/y of high value circular polymers in 2030 Mechanical recycling → Advanced recycling Ambition: become a leader in renewable diesel and SAF → 10% SAF market share in 2030 1.5 Mt/y → Priority to waste and residues > 75% from 2024 Grandpuits biojet > 70% feedstocks already secured → Biopolymers Biogas Targeting 20 TWh/y biomethane production in 2030 → Strong demand for bio-LNG bio-CNG for transportation use will drive higher value Increasing ambition in step with regulations, particularly in Europe Pipeline of projects to meet demand growth in Europe, USA, India: +300 GWh in 2023 Hydrogen & e-fuels Ambition: pioneer in mass production of clean hydrogen → Partnership with Adani to create world class producer 1 Mt/y green H₂ by 2030 Deliver clean hydrogen projects to fully cover European refining demand Partnership with Masdar and Siemens in e-fuels, to produce SAF from green H2 and CO2 New molecules Focusing on high value applications and attractive markets September 2022 Strategy and Outlook 33#34CCS Northern Lights CO2 receiving terminal, Norway Deploying CCS strategy Reducing emissions and developing profitable business Te TotalEnergies Incorporating CCS in our assets → Avoid emissions in greenfield projects • North Field East & South (Qatar) • Papua LNG Reduce emissions from existing assets • Ichthys (Australia) awarded GHG storage assessment permit • Cameron LNG (US) • Hackberry Carbon Sequestration project under development Refineries Offering Carbon Transport & Storage services → Build a profitable, scalable business and reduce Scope 3 emissions by offering CCS solutions to our customers → North Sea core area Northern Lights (up to 5 Mt/y; Total Energies, 33%) Ph 1a: 0.8 Mt/y (100%) from 2025, under construction >10 Mt/y under development for start-up by 2030 Focusing on our depleted assets and saline aquifers • • Aramis (NL, op.), Bifrost (Denmark, op.), NEP (UK) → Worldwide (US) growth options 2030 target > 10 Mt/y Growing investment to ~300 M$/y September 2022 - Strategy and Outlook 34#35Te TotalEnergies Electricity & Renewables Creating value from integration#36Creating value from integration in electricity TotalEnerg TutarEnergies Te TotalEnergies Producing at low cost Investing in cost-competitive projects worldwide with > 10% ROE → Growing portfolio with attractive M&A Enforcing cost culture, growing from 30% to 50% capacity operated → Leveraging core competencies in project management and offshore development Maximizing value through storage and trading → Targeting ~30% merchant production in deregulated markets Developing major trading capacities → Building storage capacities to capture value from intermittency → Benefiting from flexible power plants Developing customer portfolio → Addressing customer green electricity needs with Corporate PPAs → Expanding distributed generation → Directly supplying ~10 million retail customers in Europe →Targeting 150,000 EV operated charging points ~130 TWh production in 2030 ~5 GW storage in 2030 Electricity & Renewables ~130 TWh sales in 2030 September 2022 - Strategy and Outlook | 36#37Renewables: highly valuable portfolio built through selective transactions and organic growth Te TotalEnergies adani Renewables India 20% in 2021 2 B$ paid in 2021 worth ~10 B$* Clearway TOTAL eren USA 50% in 2022 Worldwide Option to acquire 100% in 2023 1.6 B$ cash payment while leveraging partial sale of Sunpower → 9x EBITDA net valuation for the 2 listed entities Exercising call option at multiples negotiated in 2016 re Worldwide Organic platform > 10% ROE after financing and farm-down TotalEnergies Electricity & Renewables *Based on share price as of end of August, 2022 September 2022 - Strategy and Outlook 37#38Electricity & Renewables Champagne Conlinoise wind farm, France TO Secured portfolio of 35 GW by 2025 e Gross installed capacity GW TotalEnergies 2025 gross capacity breakdown GW 40 20 20 35 GW Non- 40 operated 16 GW 20 20 Storage ROW India Solar Operated Offshore wind 2022 In construction In late development 2025 Europe USA Onshore wind By technology By geography 35 GW renewables portfolio in 2025 worth > 35 B$ September 2022 - Strategy and Outlook 38#39Growing profitable Electricity & Renewables business e TotalEnergies Electricity production Company share, TWh 80 60 60 40 40 20 20 21 24 2021 Electricity & Renewables 27 > 50 80 2022 2025 2027 Renewables Flexible generation Electricity & Renewables EBITDA Company proportional share, B$ 5 > 1.5 1.4 3.5 > 5 2021 2022 2025 2027 In 2027: → > 2 B$ CFFO (>+1.5 B$ vs 2021) -> > 10% ROE for Renewables September 2022 - Strategy and Outlook 39#40Te TotalEnergies Investing in TotalEnergies#41Growing shareholder returns while transitioning to a multi-energy company Low cost, low emission oil & gas portfolio capturing upside from high energy prices → Lowest cost producer - breakeven < 25 $/boe → #2 player in LNG - global LNG portfolio leveraged to oil and spot gas markets → Absolute reduction targets on CO2 and methane Multi-energy integrated model to take advantage of energy market transition → Transition is a matter of molecules (bio, H2, CO₂) core competencies of O&G companies... and electrons: growing power, a secondary energy, increasing markets interconnection & complexity → Underpinning our multi-energy and integrated strategy → Management of complexity: DNA of large integrated company e TotalEnergies Compelling investment case Increasing attractive and sustainable return to shareholders → 35%-40% payout through the cycles → Cash flow growth will support dividend increase over next 5 years, comforted by balance sheet and share buybacks → Accelerating capital investment strategy: 14-18 B$/y → Leader in extra-financial ESG reporting & progress Competitive advantages to profitably grow along electricity value chain → Drive value from integration: production, storage, trading, supply Strong balance sheet enhancing ability to capture value from volatility in electricity markets Leveraging global footprint, project management and offshore expertise → Selecting projects with > 10% return on equity September 2022 Strategy and Outlook 41#42Appendix TotalEnergies#43TotalEnergies shareholding structure Shareholding structure by shareholder type % Treasury shares 1.5% 5% 14% Company employees 7% 42% 19% 78% Institutional shareholders by area % Individual shareholders 13% Shareholders Data as of 30 June 2022 20% Since 2000, French State has no stake or golden share in TotalEnergies Te TotalEnergies September 2022 - Strategy and Outlook 43.#44Improving ESG performance through benchmarks MSCI ESG rating AAA AA A A CCC Sustainalytics ESG Risk rating ISS ESG Corporate rating S&P Global ESG CDP Refinitiv Climate Change CDP Water Negligible risk A+ 100 100 A A Medium risk 25 Medium risk 30 High risk 33 Severe risk TCFD Te TotalEnergies 86 83 81 79 A- A- A- Te 70 B- B- Prime 49 $ TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES D- ACCOUNTIN INABILITY SUSTAINABI SASB STANDARDS BOARD 0 WORLD ECONOMIC FORUM Appendix 1 Peers O&G: Shell, BP, ExxonMobil, Chevron, Equinor, Eni, Repsol 2 Peers Utilities: Enel, Iberdrola, Engie, RWE, NextEra Data as of July 20, 2022 GRI UN GLOBAL 0 COMPACT United Nations Global Compact B D-/ F CDP TotalEnergies B- Average Utilities² Average peers D O&G¹ D-/F September 2022 Strategy and Outlook 44#45Disclaimer The terms "Total Energies", "TotalEnergies company" and "Company" in this document are used to designate Total Energies SE and the consolidated entities directly or indirectly controlled by Total Energies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or their employees. The entities in which Total Energies SE directly or indirectly owns a shareholding are separate and independent legal entities. This document may contain 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 industrial strategy of Total Energies. 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 Total Energies, it being specified that the means to be deployed do not depend solely on Total Energies. These forward-looking statements may generally be identified by the use of the future or conditional tense or forward-looking words such as "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 Total Energies 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, as well as 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. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. The information on risk factors that could have a significant adverse effect on Total Energies' 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"). 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 Total Energies. In addition to IFRS measures, certain alternative performance indicators are presented, such as performance indicators excluding the 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 Total Energies and the comparison of income between periods. They allow investors to track the measures used internally to manage and measure the performance of TotalEnergies. These adjustment items include: 1. Special items Te TotalEnergies Due to their unusual nature or particular significance, certain transactions qualified 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 asset disposals, which are not considered to be representative of the normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to occur again within the coming years. 2. Inventory valuation effect 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 TotalEnergies' principal competitors. In the replacement cost method, which approximates the LIFO (Last-In, First-Out) 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 price differentials 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 according to the FIFO (First-In, First-Out) and the replacement cost. 3. Effect of changes in fair value The effect of changes in fair value presented as an adjustment item reflects, for some transactions, differences between internal measures of performance used by Total Energies' management 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, Total Energies 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. 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. 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. This document is not, does not contain and may not be deemed to constitute an offer for the sale or the subscription of securities. 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", "future 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 Total Energies 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 our 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. 45#46Corporate Communications TotalEnergies SE 2, place Jean-Millier 92400 Courbevoie, France Tel.: +33 (0)1 47 44 45 46 Share capital: €6,547,828,212.50 Registered in Nanterre: RCS 542 051 180 Te TotalEnergies For more information go to totalenergies.com D H₂ 8 ar