September 2022 - Strategy and Outlook
Growing 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 41View entire presentation