6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

July 27, 2023

Commission File Number 001-10888

TotalEnergies SE

(Translation of registrant’s name into English)

2, place Jean Millier

La Défense 6

92400 Courbevoie

France

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒        Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (NOS. 333-255641, 333-255641-01, 333-255641-02 AND 333-255641-03) OF TOTALENERGIES SE, TOTALENERGIES CAPITAL INTERNATIONAL, TOTALENERGIES CAPITAL CANADA LTD. AND TOTALENERGIES CAPITAL AND THE REGISTRATION STATEMENT ON FORM S-8 (NO. 333-271464) OF TOTALENERGIES SE, AND TO BE PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

TotalEnergies SE is providing on this Form 6-K its results for the second quarter of 2023 and six months ended June 30, 2023, a description of certain recent developments relating to its business, as well as a capitalization table as of June 30, 2023.

EXHIBIT INDEX

Exhibit No.	Description
Exhibit 99.1	Results for the Second Quarter of 2023 and Six Months ended June 30, 2023 (formatted as Inline XBRL)
Exhibit 99.2	Recent Developments
Exhibit 99.3	Capitalization and Indebtedness

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TotalEnergies SE
Date: July 27, 2023	By:	/s/ MARIE-SOPHIE WOLKENSTEIN
		Name:	Marie-Sophie Wolkenstein
		Title:	Company Treasurer

EX-99.1

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, 2023, unaudited statements of income, comprehensive income, cash flow and business segment information for the second quarter of 2023 and six months ended June 30, 2023 and unaudited consolidated statements of changes in shareholders’ equity for the six month ended June 30, 2023 on pages 33 et seq. of this exhibit.

The following discussion should be read in conjunction with the aforementioned financial statements and with the information, including TotalEnergies’ audited consolidated financial statements and related notes, provided in TotalEnergies’ Annual Report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on March 24, 2023.

A. KEY FIGURES

			2Q23				1H23
			vs	In millions of dollars, except effective tax rate,			vs
2Q23	1Q23	2Q22	2Q22	earnings per share and number of shares	1H23	1H22	1H22
56,271	62,603	74,774	-25%	Sales	118,874	143,380	-17%
4,088	5,557	5,692	-28%	Net income (TotalEnergies share)	9,645	10,636	-9%
267	960	(1,546)	ns	Net income (loss) from equity affiliates	1,227	(1,503)	ns
11,105	14,167	18,737	-41%	Adjusted EBITDA(1)(2)	25,272	36,161	-30%
5,582	6,993	10,500	-47%	Adjusted net operating income(3) from business segments	12,575	19,958	-37%
2,349	2,653	4,719	-50%	Exploration & Production	5,002	9,734	-49%
1,330	2,072	2,215	-40%	Integrated LNG	3,402	5,348	-36%
450	370	340	+32%	Integrated Power	820	258	x3.2
1,004	1,618	2,760	-64%	Refining & Chemicals	2,622	3,880	-32%
449	280	466	-4%	Marketing & Services	729	738	-1%
1.64	2.21	2.16	-24%	Fully-diluted earnings per share ($)	3.86	4.02	-4%
2,448	2,479	2,592	-6%	Fully-diluted weighted-average shares (millions)	2,460	2,602	-5%
4,271	3,433	2,819	+51%	Organic investments(4)	7,704	4,800	+60%
320	2,987	2,076	-85%	Net acquisitions(5)	3,307	2,998	+10%
4,591	6,420	4,895	-6%	Net investments(6)	11,011	7,798	+41%
9,900	5,133	16,284	-39%	Cash flow from operating activities(7)	15,033	23,901	-37%
				of which
2,125	(3,419)	2,498	-15%	(increase) decrease in working capital	(1,294)	(2,425)	ns
(112)	(153)	(399)	ns	financial charges	(265)	(767)	ns

(1) Adjusted results are defined as income using replacement cost, adjusted for special items, excluding the impact of changes for fair value; adjustment items are on page 22.

(2) Adjusted EBITDA is a non-GAAP measure. The definition of Adjusted EBITDA is available in the “Glossary” on page 31 et seq. of this exhibit. The reconciliation of net income (TotalEnergies share) to adjusted EBITDA is set forth under “Reconciliation of Net Income (TotalEnergies Share) To Adjusted EBITDA” on page 22 of this exhibit.

(3) Adjusted results are defined as income using replacement cost, adjusted for special items, excluding the impact of changes for fair value; adjustment items are on page 22.

(4) Organic investments = net investments excluding acquisitions, asset sales and other operations with non-controlling interests.

(5) Net acquisitions = acquisitions - asset sales - other transactions with non-controlling interests (see page 27).

(6) Net investments = organic investments + net acquisitions (see “Investments – Divestments’” on page 27).

(7) See also “C. TotalEnergies results – Cash Flow”. The reconciliation table for various cash flow figures is set forth under “Cash Flow” on page 27 of this exhibit.

1

Key figures of environment, greenhouse gas emissions (GHG) and production

Environment* – liquids and gas price realizations, refining margins

			2Q23				2H23
			vs				vs
2Q23	1Q23	2Q22	2Q22		1H23	1H22	1H22
78.1	81.2	113.9	-31%	Brent ($/b)	79.7	107.9	-26%
2.3	2.8	7.5	-69%	Henry Hub ($/Mbtu)	2.5	6.1	-58%
10.5	16.1	22.2	-53%	NBP ($/Mbtu)**	13.3	27.2	-51%
10.9	16.5	27.0	-60%	JKM ($/Mbtu)***	13.7	29.1	-53%
72.0	73.4	102.9	-30%	Average price of liquids ($/b) Consolidated subsidiaries	72.7	96.3	-25%
5.98	8.89	11.01	-46%	Average price of gas ($/Mbtu) Consolidated subsidiaries	7.48	11.65	-36%
9.84	13.27	13.96	-30%	Average price of LNG ($/Mbtu) Consolidated subsidiaries and equity affiliates	11.59	13.77	-16%
42.7	87.8	145.7	-71%	Variable cost margin – Refining Europe, VCM ($/t)****	65.0	101.0	-36%

*The indicators are shown on page 32.

** NBP (National Balancing Point) is a virtual natural gas trading point in the United Kingdom for transferring rights in respect of physical gas and which is widely used as a price benchmark for the natural gas markets in Europe. NBP is operated by National Grid Gas plc, the operator of the UK transmission network.

*** JKM (Japan-Korea Marker) measures the prices of spot LNG trades in Asia. It is based on prices reported in spot market trades and/or bids and offers collected after the close of the Asian trading day at 16:30 Singapore time.

**** This indicator represents TotalEnergies’ average margin on variable cost for refining in Europe (equal to the difference between TotalEnergies European refined product sales and crude oil purchases with associated variable costs divided by volumes refined in tons).

Greenhouse gas emissions (GHG)⁽¹⁾

2Q23	1Q23	2Q22	2Q23 vs 2Q22	Scope 1+2 emissions (MtCO2e)	1H23	1H22	1H23 vs 1H22
9.1	9.1	9.6	-6%	Scope 1+2 from operated facilities(2)	18.2	19.3	-6%
7.9	7.6	8.1	-2%	of which Oil & Gas	15.5	16.0	-3%
1.1	1.5	1.5	-27%	of which CCGT	2.6	3.3	-21%
12.5	12.8	13.4	-7%	Scope 1+2 - equity share	25.3	27.4	-8%

Estimated 2Q23 and 1Q23 emissions.

Scope 1+2 emissions from operated installations were down 6% year-on-year in the second quarter of 2023, as a result of the decrease in the use of gas-fired power plants in a context of lower demand in Europe and the continuous decline in flaring on Exploration & Production facilities.

2Q23	1Q23	2Q22	2Q23 vs 2Q22	Methane emissions (ktCH4)	1H23	1H22	1H23 vs 1H22
8	9	10	-19%	Methane emissions from operated facilities	18	20	-13%
10	11	13	-22%	Methane emissions - equity share	21	24	-15%

Estimated 2Q23 and 1Q23 emissions.

Scope 3 emissions (MtCO2e)	1H23	2022
Scope 3 from Oil, Biofuels and Gas Worldwide(3)	est. 180	389

(1) The six greenhouse gases in the Kyoto protocol, namely CO₂, CH₄, N₂O, HFCs, PFCs and SF₆, with their respective GWP (Global Warming Potential) as described in the 2007 IPCC report. HFCs, PFCs and SF₆ are virtually absent from the Company’s emissions or are considered as non-material and are therefore not counted.

(2) Scope 1+2 GHG emissions of operated facilities are defined as the sum of direct emissions of greenhouse gases from sites or activities that are included in the scope of reporting (as defined in the Company’s 2022 annual report on Form 20-F filed on March 24, 2023) and indirect emissions attributable to brought-in energy (electricity, heat, steam), excluding purchased industrial gases (H₂).

(3) TotalEnergies reports Scope 3 GHG emissions, category 11, which correspond to indirect GHG emissions related to the use by customers of energy products, i.e., combustion of the products to obtain energy. The Company follows the oil & gas industry reporting guidelines published by IPIECA, which comply with the GHG Protocol methodologies. In order to avoid double counting, this methodology accounts for the largest volume in the oil, biofuels and gas value chains, i.e., the higher of the two production volumes or sales to end customers. The highest point for each value chain for 2023 will be evaluated considering realizations over the full year, TotalEnergies gradually providing quarterly estimates.

2

Production*

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Hydrocarbon production	1H23	1H22	1H22
2,471	2,524	2,738	-10%	Hydrocarbon production (kboe/d)	2,498	2,791	-10%
1,416	1,398	1,268	+12%	Oil (including bitumen) (kb/d)	1,407	1,287	+9%
1,055	1,126	1,470	-28%	Gas (including condensates and associated NGL) (kboe/d)	1,091	1,504	-27%
2,471	2,524	2,738	-10%	Hydrocarbon production (kboe/d)	2,498	2,791	-10%
1,571	1,562	1,483	+6%	Liquids (kb/d)	1,567	1,505	+4%
4,845	5,191	6,835	-29%	Gas (Mcf/d)	5,017	6,997	-28%
2,471	2,524	2,412	+2%	Hydrocarbon production excluding Novatek (kboe/d)	2,498	2,460	+2%

*   Company production = Exploration & Production production + Integrated LNG production.

Hydrocarbon production was 2,471 thousand barrels of oil equivalent per day (kboe/d) in the second quarter of 2023, up 2% year-on-year (excluding Novatek), comprised of:

● +4% due to start-ups and ramp-ups, including Ikike in Nigeria, Mero 1 in Brazil, Johan Sverdrup Phase 2 in Norway and Block 10 in Oman,

● +1% due to the improvement of security conditions in Nigeria and Libya,

● +1% price effect,

● -1% portfolio effect, notably related to the end of the Bongkot operating licenses in Thailand, the exit from Termokarstovoye in Russia, partially offset by the entry into the producing fields of Sepia and Atapu in Brazil and SARB Umm Lulu in the United Arab Emirates,

● -3% due to natural decline of the fields.

Compared to the first quarter of 2023, production was down 2% mainly due to planned maintenance operations in the North Sea and the end of the Bongkot operating licenses in Thailand, partially offset by the full effect of entry into the producing fields of SARB Umm Lulu in the United Arab Emirates, and the ramp-up of Johan Sverdrup Phase 2 in Norway.

B.ANALYSIS OF BUSINESS SEGMENT RESULTS

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 and which is reviewed by the main operational decision-making body of TotalEnergies, namely the Executive Committee.

Management presents adjusted financial indicators to assist investors in better understanding, in conjunction with the Company’s financial results presented in accordance with IFRS, the economic performance of the Company. Adjustment items are of three types: inventory valuation effect, effect of changes in fair value, and special items.

Inventory valuation effect: in accordance with IAS 2, TotalEnergies values inventories of petroleum products in its financial statements according to the First-In, First-Out (FIFO) method and other inventories using the weighted-average cost method. Under the FIFO method, the cost of inventory is based on the historic cost of acquisition or manufacture rather than the current replacement cost. In volatile energy markets, this can have a significant distorting effect on the reported income. Accordingly, 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 its main competitors. in the replacement cost method, which approximates the Last-In, First-Out (LIFO) 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 differential 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 under the FIFO and replacement cost methods.

3

Effect of changes in fair value: the effect of changes in fair value presented as an adjustment item reflects, for trading inventories and storage contracts, differences between internal measures of performance used by TotalEnergies’ Executive Committee 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, the future effects of which are recorded at fair value in TotalEnergies’ internal economic performance. IFRS precludes recognition of this fair value effect. Furthermore, TotalEnergies 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.

Special items: due to their unusual nature or particular significance, certain transactions qualifying as “special items” are excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. In certain instances, certain transactions such as restructuring costs or asset disposals, which are not considered to be representative of the normal course of business, may qualify as special items although they may have occurred in prior years or are likely to occur again in following years.

For further information on the adjustments affecting operating income and net operating income on a segment-by-segment basis, and for a reconciliation of segment figures to figures reported in TotalEnergies’ interim consolidated financial statements, see pages 46 et seq. of this exhibit.

TotalEnergies measures performance at the segment level on the basis of performance indicators excluding the adjustment items, such as adjusted incomes and ROACE in order to facilitate the analysis of the financial performance and the comparison of income between periods. The definition of these performance indicators is available in the “Glossary” on page 31 et seq. of this exhibit.

The financial information is broken down by business segment prior to the consolidation and inter-segment adjustments.

Sales prices between business segments approximate market prices.

The profitable growth in the LNG and power integrated value chains are two of the key axes of TotalEnergies’ strategy.

In order to give more visibility to these businesses, the Board of Directors has decided that from the first quarter 2023, integrated LNG and integrated Power results, previously grouped in the integrated Gas, Renewables & Power (iGRP) segment, would be reported separately as two segments.

A new reporting structure for the business segments’ financial information has been put in place, effective January 1, 2023. It is based on the following five business segments:

- An Exploration-Production segment;

- An integrated LNG segment covering LNG production and trading activities as well as biogas, hydrogen and gas trading activities;

- An integrated Power segment covering generation, storage, electricity trading and B2B-B2C distribution of gas and electricity;

- A Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining, petrochemicals and specialty chemicals. This segment also includes the activities of Oil Supply, Trading and Marine Shipping;

- A Marketing & Services segment including the global activities of supply and marketing in the field of petroleum products;

In addition, the Corporate segment includes holdings operating and financial activities.

This new segment reporting has been prepared in accordance with IFRS 8 and according to the same principles as the internal reporting followed by TotalEnergies' Executive Committee.

4

For the integrated LNG and integrated Power segments, the principles for the preparation of this segment information are as follows:

- The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities since 2022 has been fully included in the integrated LNG segment.

- Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of integrated LNG segment.

- Effects of changes in the fair value of power positions are allocated to the operating income of integrated Power segment.

Due to the change in the Company's internal organizational structure affecting the composition of the business segments, the segment reporting data for the years 2021 and 2022 has been restated.

5

B.1   Exploration & Production

1. Production

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Hydrocarbon production	1H23	1H22	1H22
2,033	2,061	2,276	-11%	EP (kboe/d)	2,047	2,314	-12%
1,512	1,500	1,430	+6%	Liquids (kb/d)	1,506	1,449	+4%
2,778	3,012	4,602	-40%	Gas (Mcf/d)	2,895	4,706	-38%
2,033	2,061	2,007	+1%	EP excluding Novatek (kboe/d)	2,047	2,040	–

2. Results

			2Q23				1H23
			vs	In millions of dollars, except tax on net operating			vs
2Q23	1Q23	2Q22	2Q22	income and effective tax rate	1H23	1H22	1H22
1,434	1,954	2,521	-43%	External sales	3,388	4,672	-27%
4,263	5,854	8,454	-50%	Operating income	10,117	16,054	-37%
2,359	2,524	910	x2.6	Net operating income	4,883	4,889	0%
(15)	68	(3,668)	ns	Net income (loss) from equity affiliates and other items	53	(3,426)	ns
49.7%	57.1%	47.2%	–	Effective tax rate*	53.9%	47.1%	–
(1,889)	(3,398)	(3,876)	ns	Tax on net operating income	(5,287)	(7,739)	ns
(10)	129	3,809	ns	Adjustments affecting net operating income	119	4,845	ns
2,349	2,653	4,719	-50%	Adjusted net operating income**	5,002	9,734	-49%
149	135	287	-48%	including income from equity affiliates	284	642	-56%
2,424	2,134	1,873	+29%	Organic investments	4,558	3,299	+38%
176	1,938	2,225	-92%	Net acquisitions	2,114	2,541	-17%
2,600	4,072	4,098	-37%	Net investments	6,672	5,840	+14%

* Tax on adjusted net operating income / (adjusted net operating income - income from equity affiliates - dividends received from investments - impairment of goodwill + tax on adjusted net operating income).

** Detail of adjustment items shown in the business segment information starting on page 46 of this exhibit.

Exploration & Production Net operating income was:

● $2,359 million in the second quarter of 2023, down 7% quarter-on-quarter,

● $4,883 million in the first half 2023, in line with the first half 2022.

Exploration & Production adjusted net operating income was:

● $2,349 million in the second quarter of 2023, down 11% quarter-on-quarter, mainly due to lower oil and gas prices,

● $5,002 million in the first half 2023, down 49% compared to the first half 2022.

Adjusted net operating income for the Exploration & Production segment excludes special items. In the second quarter of 2023, the exclusion of special items had a negative impact of $10 million on the segment’s adjusted net operating income, compared to a positive impact of $3,809 million in the second quarter of 2022.

The segment's cash flow from operating activities was:

● $4,047 million in the second quarter of 2023, down 11% quarter-on-quarter,

● $8,583 million in the first half 2023, down 41% compared to the first half 2022.

The segment’s operating cash flow before working capital changes without financial charges except those related to leases (DACF)¹ was:

● $4,364 million in the second quarter of 2023, down 11% quarter-on-quarter, mainly due to lower gas and oil prices,

● $9,271 million in the first half 2023, down 37% compared to the first half 2022.

¹ The definition of Operating cash flow before working capital changes and Debt adjusted cash flow (DACF) are available on the “Glossary” on page 31 et seq. of this exhibit. The reconciliation of Cash flow from operating activities to Debt adjusted cash flow (DACF) is set forth under “Cash flow by Segment” on page 28 et seq. of this exhibit. For information on the replacement cost method, refer to “B. Analysis of Business Segment Results”, above.

6

B.2   Integrated LNG

1.Production

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Hydrocarbon production for LNG	1H23	1H22	1H22
438	463	462	-5%	Integrated LNG (kboe/d)	451	477	-6%
59	62	53	+11%	Liquids (kb/d)	61	56	+7%
2,067	2,179	2,233	-7%	Gas (Mcf/d)	2,122	2,291	-7%
438	463	405	+8%	Integrated LNG excluding Novatek (kboe/d)	451	419	+8%

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Liquefied Natural Gas in Mt	1H23	1H22	1H22
11.0	11.0	11.7	-6%	Overall LNG sales	22.0	24.9	-12%
3.6	4.0	4.1	-12%	Incl. Sales from equity production*	7.6	8.6	-12%
10.0	9.9	10.2	-2%	Incl. Sales by TotalEnergies from equity production and third party purchases	19.9	22.2	-10%

* The Company’s equity production may be sold by TotalEnergies or by the joint ventures.

Hydrocarbon production for LNG was up 8% year-on-year in the second quarter of 2023 and first half 2023, due to the increased supply of NLNG following improved security conditions in Nigeria and the restart of Snøhvit in Norway during the second quarter of 2022.

LNG sales decreased year-on-year due to lower demand in Europe and are stable quarter-on-quarter, benefitting from the restart of Freeport LNG.

2. Results

			2Q23				1H23
			vs	In millions of dollars, except tax on net operating			vs
2Q23	1Q23	2Q22	2Q22	income	1H23	1H22	1H22
2,020	4,872	3,901	-48%	External sales	6,892	9,408	-27%
724	1,138	1,421	-49%	Operating income	1,862	3,262	-43%
1,059	1,737	1,755	-40%	Net operating income	2,796	840	x3.3
472	804	626	-25%	Net income (loss) from equity affiliates and other items	1,276	(1,869)	ns
(137)	(205)	(292)	ns	Tax on net operating income	(342)	(553)	ns
271	335	460	-41%	Adjustments affecting net operating income	606	4,508	-87%
1,330	2,072	2,215	-40%	Adjusted net operating income*	3,402	5,348	-36%
432	786	1,192	-64%	including income from equity affiliates	1,218	2,596	-53%
382	396	171	x2.2	Organic investments	779	110	x7.1
205	759	(36)	ns	Net acquisitions	964	(56)	ns
587	1,155	135	x4.3	Net investments	1,743	54	x32.3

* Detail of adjustment items shown in the business segment information starting on page 46 of this exhibit.

7

Integrated LNG Net operating income was:

● $1,059 million in the second quarter of 2023, down 39% quarter-on-quarter,

● $2,796 million in the first half 2023, 3.3 times higher compared to the first half 2022.

Integrated LNG adjusted net operating income was:

● $1,330 million in the second quarter of 2023, down 28% year-on-year (excluding Novatek) and 36% quarter-on-quarter, mainly due to lower spot and forward LNG prices,

● $3,402 million in the first half 2023, down 26% year-on-year (excluding Novatek), due to lower prices and LNG sales, as well as exceptional trading results in the first quarter 2022.

Adjusted net operating income for the iLNG segment excludes special items and the impact of changes in fair value. In the second quarter of 2023, the exclusion of special items had a positive impact of $271 million on the segment’s adjusted net operating income, compared to a positive impact of $460 million in the second quarter of 2022.

The segment’s cash flow from operating activities was:

● $1,332 million in the second quarter of 2023 down 62% quarter-to-quarter,

● $4,868 million in the first half 2023, down 19% compared to the first half 2022.

The segment’s operating cash flow before working capital changes without financial charges except those related to leases (DACF)² was:

● $1,801 million in the second quarter of 2023, down 15% year-on-year (excluding Novatek), and 13% quarter-on-quarter due to lower LNG prices, partially offset by higher margins secured in 2022 on LNG cargoes to be delivered in 2023,

● $3,882 million in the first half 2023, down 16% year-on-year (excluding Novatek), for the same reasons.

² The definition of Operating cash flow before working capital changes and Debt adjusted cash flow (DACF) are available on the “Glossary” on page 31 et seq. of this exhibit. The reconciliation of Cash flow from operating activities to Debt adjusted cash flow (DACF) is set forth under “Cash flow by Segment” on page 28 et seq. of this exhibit. For information on the replacement cost method, refer to “B. Analysis of Business Segment Results”, above.

8

B.3   Integrated Power

1. Capacities, productions, clients and sales

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Integrated Power	1H23	1H22	1H22
74.7	70.4	50.7	+47%	Portfolio of renewable power generation gross capacity (GW) (1),(2)	74.7	50.7	+47%
19.0	17.9	11.6	+63%	o/w installed capacity	19.0	11.6	+63%
5.7	6.2	5.2	+11%	o/w capacity in construction	5.7	5.2	+11%
50.0	46.3	33.9	+47%	o/w capacity in development	50.0	33.9	+47%
46.9	44.4	38.4	+22%	Portfolio of renewable power generation net capacity (GW) (2)	46.9	38.4	+22%
8.9	8.4	5.8	+53%	o/w installed capacity	8.9	5.8	+53%
3.9	4.0	3.7	+7%	o/w capacity in construction	3.9	3.7	+7%
34.1	32.0	28.9	+18%	o/w capacity in development	34.1	28.9	+18%
5.8	5.8	5.8	–	Gas-fired power generation gross installed capacity (GW) (2)	5.8	5.8	–
4.3	4.3	4.3	–	Gas-fired power generation net installed capacity (GW) (2)	4.3	4.3	–
8.2	8.4	7.7	+8%	Net power production (TWh) (3)	16.6	15.2	+9%
4.2	3.8	2.5	+69%	Incl. power production from renewables	8.1	4.7	+70%
6.0	6.0	6.2	-3%	Clients power – BtB and BtC (Million) (2)	6.0	6.2	-3%
2.8	2.8	2.7	+1%	Clients gas – BtB and BtC (Million) (2)	2.8	2.7	+1%
11.5	15.5	12.3	-7%	Sales power – BtB and BtC (TWh)	27.0	28.6	-6%
19.2	37.3	19.1	–	Sales gas – BtB and BtC (TWh)	56.4	54.1	+4%

(1) Includes 20% of Adani Green Energy Ltd’s gross capacity effective first quarter 2021, 50% of Clearway Energy Group’s gross capacity effective third quarter 2022 and 49% of Casa dos Ventos’ gross capacity effective first quarter 2023.

(2) End of period data.

(3) Solar, wind, hydroelectric and combined-cycle gas turbine (CCGT) plants.

Net power production was:

● 8.2 TWh in the second quarter of 2023, up 8% year-on-year, as growing electricity generation from renewables was partially offset by lower generation from flexible capacity in a context of lower demand,

● 16.6 TWh in the first half 2023, up 9% year-on-year, for the same reasons.

Gross installed renewable power generation capacity was 19 GW at the end of the second quarter of 2023, up by more than 1 GW quarter-on-quarter, including 0.5 GW installed in the USA and the connection of 0.3 GW from the Seagreen offshore wind project in the UK.

2. Results

			2Q23				1H23
			vs	In millions of dollars, except tax on net operating			vs
2Q23	1Q23	2Q22	2Q22	income	1H23	1H22	1H22
6,249	8,555	6,380	-2%	External sales	14,804	13,167	12%
534	362	(575)	ns	Operating income	896	(604)	ns
243	181	(346)	ns	Net operating income	424	(413)	ns
(250)	(70)	197	ns	Net income (loss) from equity affiliates and other items	(320)	192	ns
(41)	(111)	32	ns	Tax on net operating income	(152)	(1)	ns
207	189	686	-70%	Adjustments affecting net operating income	396	671	-41%
450	370	340	+32%	Adjusted net operating income*	820	258	x3.2
23	56	27	-15%	including income from equity affiliates	79	53	+49%
753	577	170	x4.4	Organic investments	1,330	489	x2.7
(42)	519	(22)	ns	Net acquisitions	477	639	-25%
711	1,096	148	x4.8	Net investments	1,807	1,128	+60%

* Detail of adjustment items shown in the business segment information starting on page 46 of this exhibit.

9

Integrated Power Net operating income was:

● $243 million in the second quarter of 2023, up 34% quarter-on-quarter,

● $424 million in the first half 2023, compared to $(413) million in the first half 2022.

Integrated Power adjusted net operating income was $450 million, up 22% quarter-on-quarter, due to the performance of its integrated electricity portfolio.

Adjusted net operating income for the Integrated Power segment excludes special items and the impact of changes in fair value. In the second quarter of 2023, the exclusion of special items had a positive impact of $207 million on the segment’s adjusted net operating income, compared to a positive impact of $686 million in the second quarter of 2022.

The segment’s cash flow from operating activities excluding margin calls, reported in the Integrated LNG segment since the implementation in 2022 of its centralized management was:

● $2,284 million in the second quarter of 2023, compared to $(1,285) million in the first quarter 2023,

● $999 million in the first half 2023, compared to $(1,736) million in the first half 2022.

The segment’s operating cash flow before working capital changes without financial charges except those related to leases (DACF)³ was:

● $491 million in the second quarter of 2023, up 12% quarter-on-quarter,

● $931 million in the first half 2023, 2.7 times higher than the first half 2022.

³ The definition of Operating cash flow before working capital changes and Debt adjusted cash flow (DACF) are available on the “Glossary” on page 31 et seq. of this exhibit. The reconciliation of Cash flow from operating activities to Debt adjusted cash flow (DACF) is set forth under “Cash flow by Segment” on page 28 et seq. of this exhibit. For information on the replacement cost method, refer to “B. Analysis of Business Segment Results”, above.

10

B.4   Downstream (Refining & Chemicals and Marketing & Services)

1. Results

			2Q23				1H23
			vs	In millions of dollars, except tax on net operating			vs
2Q23	1Q23	2Q22	2Q22	income	1H23	1H22	1H22
46,561	47,214	61,968	-25%	External sales	93,775	116,125	-19%
1,306	1,708	4,958	-74%	Operating income	3,014	7,955	-62%
1,024	1,559	4,243	-76%	Net operating income	2,583	6,604	-61%
67	295	447	-85%	Net income (loss) from equity affiliates and other items	362	561	-35%
(349)	(444)	(1,162)	ns	Tax on net operating income	(793)	(1,912)	ns
429	339	(1,017)	ns	Adjustments affecting net operating income	768	(1,986)	ns
1,453	1,898	3,226	-55%	Adjusted net operating income*	3,351	4,618	-27%
686	290	586	+17%	Organic investments	976	878	+11%
(19)	(229)	(91)	ns	Net acquisitions	(248)	(125)	ns
667	61	495	+35%	Net investments	728	753	-3%

* Detail of adjustment items shown in the business segment information starting on page 46 of this exhibit.

B.5   Refining & Chemicals

1. Refinery and petrochemicals throughput and utilization rates

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Refinery throughput and utilization rate*	1H23	1H22	1H22
1,472	1,403	1,575	-7%	Total refinery throughput (kb/d)	1,437	1,448	-1%
364	357	395	-8%	France	360	324	+11%
601	596	648	-7%	Rest of Europe	598	627	-5%
507	450	532	-5%	Rest of world	479	497	-4%
82%	78%	88%		Utilization rate based on crude only**	80%	81%

* Includes refineries in Africa reported in the Marketing & Services segment.

** Based on distillation capacity at the beginning of the year.

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Petrochemicals production and utilization rate	1H23	1H22	1H22
1,157	1,295	1,206	-4%	Monomers* (kt)	2,452	2,611	-6%
963	1,111	1,187	-19%	Polymers (kt)	2,074	2,461	-16%
67%	75%	71%	–	Steamcracker utilization rate**	71%	78%	–

* Olefins.

** Based on olefins production from steam crackers and their treatment capacity at the start of the year.

Refining throughput was:

● down 7% year-on-year in the second quarter of 2023, notably due to planned maintenance and unplanned shutdowns at the Antwerp refinery in Belgium, and logistical limitations linked to high inventory levels at the Normandy refinery in France,

● down 1% year-on-year in the first half 2023, reflecting the restart of the Donges refinery in France in the second quarter of 2022.

The utilization rate on processed crude rose over the quarter to 82% given the end of strikes in France.

Polymer production was down year-on-year by 19% in the second quarter of 2023 and 16% in the first half 2023, due to the slowdown in global demand.

11

2. Results

			2Q23				1H23
			vs	In millions of dollars, except tax on net operating			vs
2Q23	1Q23	2Q22	2Q22	income	1H23	1H22	1H22
24,849	24,855	35,061	-29%	External sales	49,704	66,069	-25%
812	1,426	4,029	-80%	Operating income	2,238	6,331	-65%
628	1,153	3,512	-82%	Net operating income	1,781	5,445	-67%
3	52	349	-99%	Net income (loss) from equity affiliates and other items	55	505	-89%
(187)	(325)	(866)	ns	Tax on net operating income	(512)	(1,391)	ns
376	465	(752)	ns	Adjustments affecting net operating income	841	(1,565)	ns
1,004	1,618	2,760	-64%	Adjusted net operating income*	2,622	3,880	-32%
454	198	313	+45%	Organic investments	652	510	+28%
(15)	5	(34)	ns	Net acquisitions	(10)	(34)	ns
439	203	279	+57%	Net investments	642	476	+35%

* Detail of adjustment items shown in the business segment information starting on page 46 of this exhibit.

Refining & Chemicals Net operating income was:

● $628 million in the second quarter of 2023, down 46% quarter-on-quarter,

● $1,781 million in the first half 2023, down 67% compared to the first half 2022.

Refining & Chemicals adjusted net operating income was:

● $1,004 million in the second quarter of 2023, down 38% quarter-on-quarter, reflecting lower refining margins in Europe impacted at the start of the period by Chinese exports and the quicker than anticipated reorganization of Russian flows following the European embargo, although supported at the end of the quarter by higher gasoline exports to the US and lower diesel imports in Europe from China,

● $2,622 million in the first half 2023, down 32% year-on-year, for the same reasons.

Adjusted net operating income for the Refining & Chemicals segment excludes any after-tax inventory valuation effect and special items. In the second quarter of 2023, the exclusion of the inventory valuation effect had a positive impact of $332 million on the segment’s adjusted net operating income, compared to a negative impact of $752 million in the second quarter of 2022. In the second quarter of 2023, the exclusion of special items had a positive impact of $44 million on the segment’s adjusted net operating income, compared to no impact in the second quarter of 2022.

The segment’s cash flow from operating activities was:

● $1,923 million in the second quarter of 2023, compared to $(851) millions in the first quarter 2023,

● $1,072 million in the first half 2023, down 77% compared to the first half 2022.

The segment’s operating cash flow before working capital changes without financial charges except those related to leases (DACF)⁴ was:

● $1,329 million in the second quarter of 2023, down 55% year-on-year,

● $3,062 million in the first half 2023, down 30% compared to the first half 2022 as the second quarter of 2022 benefited from exceptional conditions.

⁴ The definition of Operating cash flow before working capital changes and Debt adjusted cash flow (DACF) are available on the “Glossary” on page 31 et seq. of this exhibit. The reconciliation of Cash flow from operating activities to Debt adjusted cash flow (DACF) is set forth under “Cash flow by Segment” on page 28 et seq. of this exhibit. For information on the replacement cost method, refer to “B. Analysis of Business Segment Results”, above.

12

B.6   Marketing & Services

1. Petroleum product sales

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Sales in kb/d*	1H23	1H22	1H22
1,397	1,360	1,477	-5%	Total Marketing & Services sales	1,379	1,464	-6%
799	757	817	-2%	Europe	778	804	-3%
598	602	660	-9%	Rest of world	600	661	-9%

* Excludes trading and bulk refining sales.

Sales of petroleum products were down year-on-year by 5% in the second quarter of 2023 and 6% in the first half 2023, as lower demand from commercial and industrial customers in Europe and the portfolio effect linked to the disposal of 50% of the fuel distribution business in Egypt were partially offset by the recovery in the aviation business.

2. Results

			2Q23				1H23
			vs	In millions of dollars, except tax on net operating			vs
2Q23	1Q23	2Q22	2Q22	income	1H23	1H22	1H22
27,712	22,359	26,907	-3%	External sales	44,071	50,056	-12%
494	282	929	-47%	Operating income	776	1,624	-52%
396	406	731	-46%	Net operating income	802	1,159	-31%
64	243	98	-35%	Net income (loss) from equity affiliates and other items	307	56	x5.4
(162)	(119)	(296)	ns	Tax on net operating income	(281)	(521)	ns
53	(126)	(265)	ns	Adjustments affecting net operating income	(73)	(421)	ns
449	280	466	-4%	Adjusted net operating income*	729	738	-1%
232	92	273	-15%	Organic investments	324	368	-12%
(4)	(234)	(57)	ns	Net acquisitions	(238)	(91)	ns
228	(142)	216	+6%	Net investments	86	277	-69%

* Detail of adjustment items shown in the business segment information starting on page 46 of this exhibit.

Marketing & Services Net operating income was:

● $396 million in the second quarter of 2023, down 2% quarter-on-quarter,

● $802 million in the first half 2023, down 31% compared to the first half 2022.

13

Marketing & Services adjusted net operating income was:

● $449 million in the second quarter of 2023, down 4% year-on-year,

● $729 million in the first half 2023, slightly down year-on-year, in line with lower sales.

Adjusted net operating income for the Marketing & Services segment excludes any after-tax inventory valuation effect and special items. In the second quarter of 2023, the exclusion of the inventory valuation effect had a positive impact of $45 million on the segment’s adjusted net operating income, compared to a negative impact of $275 million in the second quarter of 2022. In the second quarter of 2023, the exclusion of special items had a positive impact of $8 million on the segment’s adjusted net operating income, compared to a positive impact of $10 million in the second quarter of 2022.

The segment’s cash flow from operating activities was:

● $665 million in the second quarter of 2023, up 15% quarter-on-quarter,

● $(8) million in the first half 2023, compared to $1,478 million in the first half 2022.

The segment’s operating cash flow before working capital changes without financial charges except those related to leases (DACF)⁵ was:

● $756 million in the second quarter of 2023, up 29% year-on-year,

● $1,212 million in the first half 2023, up 16% compared to the first half 2022, as 2022 was negatively impacted by the tax effect of higher prices on the valuation of petroleum product inventories.

⁵ The definition of Operating cash flow before working capital changes and Debt adjusted cash flow (DACF) are available on the “Glossary” on page 31 et seq. of this exhibit. The reconciliation of Cash flow from operating activities to Debt adjusted cash flow (DACF) is set forth under “Cash flow by Segment” on page 28 et seq. of this exhibit. For information on the replacement cost method, refer to “B. Analysis of Business Segment Results”, above.

14

C.TOTALENERGIES RESULTS

1. Net income (TotalEnergies share)

Net income (TotalEnergies share) was $4,088 million in the second quarter of 2023, 28% lower than $5,692 million in second quarter of 2022. Adjusted net income⁶ (TotalEnergies share) was $4,956 million in the second quarter of 2023 versus $9,796 million in the second quarter of 2022, due to lower gas prices and refining margins.

Adjusted net income excludes the after-tax inventory effect, special items and the impact of changes in fair value⁷. Adjustments to net income⁸ were $(868) million in the second quarter of 2023, consisting mainly of:

● $(0.5) billion related to impairments, notably on upstream assets in Kenya and the Yunlin offshore wind project in Taiwan,

● $(0.4) billion of inventory effect.

2. Fully-diluted shares and share buybacks

As of June 30, 2023, the number of diluted shares was 2,443 million.

As part of its shareholder return policy, TotalEnergies repurchased:

● 32.8 million shares for cancellation in the second quarter of 2023 for $2 billion,

● 65.0 million shares for cancellation in the first half 2023 for $4 billion.

3. Acquisitions - asset sales

Acquisitions were:

● $482 million in the second quarter of 2023, mainly related to the acquisition of a 9.375% stake in the NFS LNG project in Qatar, the renewal of the license OML 130 in Nigeria, and the acquisition of a 5.06% stake in NextDecade in line with the launch of RGLNG project in the US,

● $3,738 million in the first half 2023, mainly related to the above items, as well as the acquisition of a 20% interest in the SARB and Umm Lulu concession in the United Arab Emirates, the acquisition of a 6.25% stake in the NFE LNG project in Qatar, and a 34% stake in a joint venture with Casa dos Ventos in Brazil.

Divestments were:

● $162 million in the second quarter of 2023, notably for the sale of shares in Maxeon,

● $431 million in the first half 2023, notably for the above item as well as the sale of 50% of the Marketing & Services subsidiary in Egypt.

4. Cash flow

In the second quarter of 2023, cash flow from operating activities was $9,900 million compared to $8,485 million of operating cash flow before working capital changes⁹ in the second quarter of 2023, reflecting a $1.5 billion decrease in working capital requirements, mainly due to the effects of lower inventories, seasonality of payment of the gas and power marketing business, and despite a decrease in tax payables and the tax payment schedule notably in the Exploration & Production segment.

TotalEnergies’ cash flow from operating activities was $9,900 million in the second quarter of 2023, a decrease of 39% compared to $16,284 million in the second quarter of 2022.

⁶ Adjusted net income is a non-GAAP measure that the Company presents in order to evaluate the Company’s operating results and understanding its operating trends. The definition of Adjusted net operating income is available in the “Glossary” on page 31 of this exhibit.

⁷ Details shown on page 22 of this exhibit.

⁸ Details shown on pages 22 and 38 et seq. of this exhibit.

⁹ Operating cash flow before working capital changes is a non-GAAP measure. The definition of Operating cash flow before working capital changes is available in the “Glossary” on page 31 of this exhibit. The reconciliation of Cash flow from operating activities to Operating cash flow before working capital changes is set forth under “Cash flow” on page 27 of this exhibit. For information on the replacement cost method, refer to “B. Analysis of Business Segment Results”.

15

The change in working capital as determined using the replacement cost method excluding the mark-to-market effect of Integrated LNG and Integrated Power’s contracts, including capital gain from renewable project sales and including organic loan repayment from equity affiliates was a decrease of $1,415 million in the second quarter of 2023, compared to a decrease of $3,051 million in the second quarter of 2022.

In the second quarter of 2023, the change in working capital was a decrease of $2,125 million in accordance with IFRS. The difference of $710 million between IFRS and replacement cost method corresponds to the following adjustments: (i) the pre-tax inventory valuation effect of $252 million, (ii) plus the mark-to-market effect of Integrated LNG and Integrated Power’s contracts of $405 million, (iii) plus the capital gains from renewables project sale of $35 million and (iv) plus the organic loan repayments from equity affiliates of $18 million.

Operating cash flow before working capital changes¹⁰ was $8,485 million in the second quarter of 2023, down 36% compared to $13,233 million in the second quarter of 2022.

Operating cash flow before working capital changes without financial charges  except those related to leases (DACF)¹¹ was $8,596 million in the second quarter of 2023, down 37% compared to $13,631 million in the second quarter of 2022.

TotalEnergies’ net cash flow¹² was:

● $3,894 million in the second quarter of 2023 compared to $3,201 million in the first quarter 2023, reflecting the $1,136 million decrease in cash flow offset by the $1,829 million decrease in net investments to $4,591 million in the second quarter of 2023,

● $7,095 million in the first half 2023 compared to $17,061 million a year earlier, reflecting the $6,753 million decrease in cash flow and the $3,213 million increase in net investments to $11,011 million in the first half 2023.

D.PROFITABILITY

Return on equity was 25.2% for the twelve months ended June 30, 2023.

	July 1, 2022	April 1, 2022	July 1, 2021
In millions of dollars	June 30, 2023	March 31, 2023	June 30, 2022
Adjusted net income	29,351	34,219	30,716
Average adjusted shareholders’ equity	116,329	115,233	113,333
Return on equity (ROE)	25.2%	29.7%	27.1%

Return on average capital employed (ROACE)¹³ was 22.4% for the twelve months ended June 30, 2023.

	July 1, 2022	April 1, 2022	July 1, 2021
In millions of dollars	June 30, 2023	March 31, 2023	June 30, 2022
Adjusted net operating income	30,776	35,712	32,177
Average capital employed	137,204	140,842	139,377
ROACE	22.4%	25.4%	23.1%

¹⁰ Operating cash flow before working capital changes is a non-GAAP measure. The definition of Operating cash flow before working capital changes is available in the “Glossary” on page 31 of this exhibit. The reconciliation of Cash flow from operating activities to Operating cash flow before working capital changes is set forth under “Cash flow” on page 27 of this exhibit. For information on the replacement cost method, refer to “B. Analysis of Business Segment Results”.

¹¹ Debt adjusted cash flow (DACF) is a non-GAAP measure. The definition of Debt adjusted cash flow (DACF) is available in the “Glossary” on page 31 of this exhibit. The reconciliation of Cash flow from operating activities to Debt adjusted cash flow (DACF) is set forth under “Cash flow” on page 27 of this exhibit. For information on the replacement cost method, refer to “B. Analysis of Business Segment Results”.

¹² Net cash flow is a non-GAAP measure. The definition of Net cash flow is available in the “Glossary” on page 31 of this exhibit. The reconciliation of Cash flow from operating activities to Net cash flow is set forth under “Cash flow” on page 27 of this exhibit.

¹³ Return on Average Capital Employed (ROACE) is a non-GAAP measure. The definition of Return on Average Capital Employed (ROACE) is available in the “Glossary” on page 31 of this exhibit.

16

E.Annual 2023 Sensitivities*

			Estimated
		Estimated impact	impact on cash
		on adjusted net	flow from
	Change	operating income	operations
Dollar	+/- 0.1 $ per €	-/+ 0.1 B$	~0 B$
Average liquids price**	+/- 10$/b	+/- 2.5 B$	+/- 3.0 B$
European gas price – NBP / TTF	+/- 2 $/Mbtu	+/- 0.4 B$	+/- 0.4 B$
Variable cost margin, European refining (VCM)	+/- 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 2023. 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 a 80 $/b Brent environment.

F.SUMMARY AND OUTLOOK

Oil prices have remained buoyant at around $75/b for several months now, supported by OPEC+ actions. Demand for petroleum products should be supported as the summer driving season is ongoing and the global recovery for air travel continues.

European natural gas prices are currently around $10/Mbtu due to high inventories in Europe. Demand recovery in Asia and tension on supply capacities in Europe support forward prices above $15/Mbtu for the winter of 2023/2024.

Given the evolution of oil and gas prices in recent months and the lag effect on price formulas, TotalEnergies anticipates that its average LNG selling price should be between $9 and $10/Mbtu in the third quarter 2023.

For the third quarter 2023, TotalEnergies anticipates hydrocarbon production of around 2.5 Mboe/d, notably supported by the start-up of Absheron field in Azerbaijan. The utilization rate in refineries should remain above 80%.

The Company confirms 2023 guidance of net investments between $16 and $18 billion, including $5 billion in low-carbon energies.

17

FORWARD-LOOKING STATEMENTS

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 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 “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 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, 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.

Except for its ongoing obligations to disclose material information as required by applicable securities laws, TotalEnergies does not have any intention or obligation to update forward-looking statements after the distribution of this document, even if new information, future events or other circumstances have made them incorrect or misleading.

For additional factors, you should read the information set forth under “Item 3. -3.1 Risk Factors”, “Item 4. Information on the Company”, “Item 5. Operating and Financial Review and Prospects” and “Item 11. Quantitative and Qualitative Disclosures about Market Risk” in TotalEnergies’ Form 20-F for the year ended December 31, 2022.

18

OPERATING INFORMATION BY SEGMENT

Company’s production (Exploration & Production + Integrated LNG)

			2Q23				1H23
			vs	Combined liquids and gas			vs
2Q23	1Q23	2Q22	2Q22	production by region (kboe/d)	1H23	1H22	1H22
537	583	907	-41%	Europe	559	933	-40%
481	494	460	+5%	Africa	488	479	+2%
767	718	680	+13%	Middle East and North Africa	743	675	+10%
443	441	420	+5%	Americas	442	403	+10%
243	288	271	-10%	Asia-Pacific	266	301	-12%
2,471	2,524	2,738	-10%	Total production	2,498	2,791	-10%
338	344	690	-51%	includes equity affiliates	341	702	-51%

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Liquids production by region (kb/d)	1H23	1H22	1H22
227	235	267	-15%	Europe	231	283	-18%
359	371	351	+2%	Africa	365	362	+1%
615	578	546	+13%	Middle East and North Africa	596	542	+10%
268	263	231	+16%	Americas	266	216	+23%
102	116	88	+16%	Asia-Pacific	109	102	+6%
1,571	1,562	1,483	+6%	Total production	1,567	1,505	+4%
153	150	201	-24%	includes equity affiliates	152	206	-26%

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Gas production by region (Mcf/d)	1H23	1H22	1H22
1,671	1,879	3,440	-51%	Europe	1,774	3,498	-49%
610	615	545	+12%	Africa	612	594	+3%
834	772	742	+12%	Middle East and North Africa	803	734	+9%
976	994	1,063	-8%	Americas	985	1,052	-6%
754	931	1,045	-28%	Asia-Pacific	843	1,119	-25%
4,845	5,191	6,835	-29%	Total production	5,017	6,997	-28%
1,004	1,054	2,633	-62%	includes equity affiliates	1,029	2,673	-62%

19

Downstream (Refining & Chemicals and Marketing & Services)

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Petroleum product sales by region (kb/d)	1H23	1H22	1H22
1,709	1,600	1,814	-6%	Europe*	1,655	1,724	-4%
599	667	734	-18%	Africa	633	747	-15%
918	849	922	–	Americas	883	849	+4%
665	623	705	-6%	Rest of world	644	618	+4%
3,892	3,739	4,176	-7%	Total consolidated sales*	3,815	3,939	-3%
424	387	409	+4%	Includes bulk sales	405	409	-1%
2,070	1,992	2,290	-10%	Includes trading*	2,031	2,065	-2%

* 1Q23 data restated

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	Petrochemicals production* (kt)	1H23	1H22	1H22
1,026	1,047	1,023	–	Europe	2,073	2,282	-9%
619	607	603	+3%	Americas	1,226	1,240	-1%
475	753	768	-38%	Middle East and Asia	1,228	1,549	-21%

* Olefins, polymers.

20

INTEGRATED POWER

	2Q23					1Q23
		Onshore	Offshore				Onshore	Offshore
Installed power generation gross capacity (GW) (1),(2)	Solar	Wind	Wind	Other	Total	Solar	Wind	Wind	Other	Total
France	0.8	0.6	0.0	0.1	1.6	0.8	0.6	0.0	0.2	1.5
Rest of Europe	0.2	1.1	0.8	0.0	2.1	0.2	1.1	0.5	0.0	1.8
Africa	0.1	0.0	0.0	0.0	0.2	0.1	0.0	0.0	0.0	0.2
Middle East	1.2	0.0	0.0	0.0	1.2	1.2	0.0	0.0	0.0	1.2
North America	3.5	2.1	0.0	0.1	5.6	3.0	2.1	0.0	0.1	5.1
South America	0.4	1.0	0.0	0.0	1.4	0.4	0.9	0.0	0.0	1.3
India	5.1	0.4	0.0	0.0	5.5	5.0	0.4	0.0	0.0	5.4
Asia-Pacific	1.4	0.0	0.1	0.0	1.5	1.3	0.0	0.1	0.0	1.5
Total	12.5	5.2	1.0	0.3	19.0	12.0	5.0	0.7	0.3	17.9

	2Q23					1Q23
		Onshore	Offshore				Onshore	Offshore
Power generation gross capacity from renewables in construction (GW) (1),(2)	Solar	Wind	Wind	Other	Total	Solar	Wind	Wind	Other	Total
France	0.2	0.1	0.0	0.0	0.3	0.2	0.1	0.0	0.0	0.4
Rest of Europe	0.1	0.0	0.3	0.0	0.5	0.1	0.0	0.6	0.0	0.7
Africa	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Middle East	0.1	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.0
North America	2.8	0.1	0.0	0.5	3.4	2.7	0.1	0.0	0.5	3.4
South America	0.1	0.2	0.0	0.0	0.3	0.1	0.6	0.0	0.0	0.7
India	0.4	0.1	0.0	0.0	0.5	0.4	0.1	0.0	0.0	0.5
Asia-Pacific	0.0	0.0	0.5	0.0	0.6	0.0	0.0	0.5	0.0	0.6
Total	3.8	0.5	0.9	0.6	5.7	3.6	0.9	1.2	0.5	6.2

	2Q23					1Q23
		Onshore	Offshore				Onshore	Offshore
Power generation gross capacity from renewables in development (GW) (1),(2)	Solar	Wind	Wind	Other	Total	Solar	Wind	Wind	Other	Total
France	1.0	0.6	0.0	0.0	1.6	0.9	0.2	0.0	0.0	1.2
Rest of Europe	5.4	0.4	4.4	0.1	10.3	3.6	0.4	4.4	0.1	8.4
Africa	0.6	0.3	0.0	0.1	1.0	0.7	0.3	0.0	0.1	1.1
Middle East	0.4	0.0	0.0	0.0	0.4	0.5	0.0	0.0	0.0	0.5
North America	9.0	3.2	4.1	5.1	21.3	10.7	2.8	4.1	4.5	22.1
South America	1.6	1.6	0.0	0.4	3.6	1.3	0.5	0.0	0.0	1.8
India	4.2	0.1	0.0	0.0	4.3	4.6	0.2	0.0	0.0	4.8
Asia-Pacific	3.2	0.4	2.9	0.9	7.5	2.4	0.4	2.9	0.7	6.4
Total	25.5	6.6	11.4	6.5	50.0	24.7	4.8	11.4	5.4	46.3

(1) Includes 20% of the gross capacities of Adani Green Energy Limited, 50% of Clearway Energy Group and, from 1Q23, 49% of Casa dos Ventos.

(2) End-of-period data.

21

ADJUSTMENT ITEMS TO NET INCOME (TOTALENERGIES SHARE)

2Q23	1Q23	2Q22	In millions of dollars	1H23	1H22
(377)	(159)	(4,546)	Special items affecting net income (TotalEnergies share)	(536)	(9,539)
–	203	–	Gain (loss) on asset sales	203	–
(5)	–	(8)	Restructuring charges	(5)	(11)
(469)	(60)	(3,719)	Impairments	(529)	(8,780)
97	(302)	(819)	Other	(205)	(748)
(380)	(391)	993	After-tax inventory effect: FIFO vs. replacement cost	(771)	2,033
(111)	(434)	(551)	Effect of changes in fair value	(545)	(631)
(868)	(984)	(4,104)	Total adjustments affecting net income	(1,852)	(8,137)

RECONCILIATION OF NET INCOME (TOTALENERGIES SHARE) TO ADJUSTED EBITDA

			2Q23  vs				1H23  vs
2Q23	1Q23	2Q22	2Q22	In millions of dollars	1H23	1H22	1H22
4,088	5,557	5,692	-28%	Net income - TotalEnergies share	9,645	10,636	-9%
868	984	4,104	-79%	Less: adjustment items to net income (TotalEnergies share)	1,852	8,137	-77%
4,956	6,541	9,796	-49%	Adjusted net income - TotalEnergies share	11,497	18,773	-39%
				Adjusted items
61	74	89	-31%	Add: non-controlling interests	135	165	-18%
2,715	4,090	5,274	-49%	Add: income taxes	6,805	9,998	-32%
2,959	3,026	3,038	-3%	Add: depreciation, depletion and impairment of tangible assets and mineral interests	5,985	6,186	-3%
92	99	98	-6%	Add: amortization and impairment of intangible assets	191	194	-2%
724	710	572	+27%	Add: financial interest on debt	1,434	1,034	+39%
(402)	(373)	(130)	ns	Less: financial income and expense from cash & cash equivalents	(775)	(189)	ns
11,105	14,167	18,737	-41%	Adjusted EBITDA	25,272	36,161	-30%

22

RECONCILIATION OF NET INCOME (TOTALENERGIES SHARE) TO ADJUSTED NET OPERATING INCOME AND ADJUSTED OPERATING INCOME

2nd quarter 2023	statement
(M$)	of income	Adjustments	Adjusted
Sales	56,271	(76)	56,195
Excise taxes	(4,737)	0	(4,737)
Revenues from sales	51,534	(76)	51,458
Purchases net of inventory variation	(33,864)	485	(33,379)
Other operating expenses	(7,906)	152	(7,754)
Exploration costs	(62)	0	(62)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,106)	147	(2,959)
Operating income	6,596	708	7,304
Other income	116	0	116
Other expense	(366)	110	(256)
Other financial income	413	(12)	401
Other financial expense	(173)	0	(173)
Net income (loss) from equity affiliates	267	395	662
Income taxes	(2,487)	(228)	(2,715)
Less tax on cost of net debt	31	(36)	(5)
Net operating income	4,397	937	5,334
Financial interest on debt	(724)	0	(724)
Financial income and expense from cash & cash equivalents	510	(108)	402
Cost of net debt	(214)	(108)	(322)
Tax on cost of net debt	(31)	36	5
Net cost of net debt	(245)	(72)	(317)
Consolidated net income	4,152	865	5,017
TotalEnergies share	4,088	868	4,956
Non-controlling interests	64	(3)	61

1st quarter 2023	statement
(M$)	of income	Adjustments	Adjusted
Sales	62,603	76	62,679
Excise taxes	(4,370)	0	(4,370)
Revenues from sales	58,233	76	58,309
Purchases net of inventory variation	(38,351)	872	(37,479)
Other operating expenses	(7,785)	33	(7,752)
Exploration costs	(92)	(2)	(94)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,062)	36	(3,026)
Operating income	8,943	1,015	9,958
Other income	341	(264)	77
Other expense	(300)	163	(137)
Other financial income	258	(10)	248
Other financial expense	(183)	0	(183)
Net income (loss) from equity affiliates	960	119	1,079
Income taxes	(4,071)	(19)	(4,090)
Less tax on cost of net debt	(24)	(12)	(36)
Net operating income	5,924	992	6,916
Financial interest on debt	(710)	0	(710)
Financial income and expense from cash & cash equivalents	393	(20)	373
Cost of net debt	(317)	(20)	(337)
Tax on cost of net debt	24	12	36
Net cost of net debt	(293)	(8)	(301)
Consolidated net income	5,631	984	6,615
TotalEnergies share	5,557	984	6,541
Non-controlling interests	74	0	74

23

RECONCILIATION OF NET INCOME (TOTALENERGIES SHARE) TO ADJUSTED NET OPERATING INCOME AND ADJUSTED OPERATING INCOME (CONT.)

2nd quarter 2022	statement
(M$)	of income	Adjustments	Adjusted
Sales	74,774	15	74,789
Excise taxes	(4,329)	0	(4,329)
Revenues from sales	70,445	15	70,460
Purchases net of inventory variation	(45,443)	(580)	(46,023)
Other operating expenses	(8,041)	421	(7,620)
Exploration costs	(117)	0	(117)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,102)	64	(3,038)
Operating income	13,742	(80)	13,662
Other income	429	0	429
Other expense	(1,305)	776	(529)
Other financial income	231	0	231
Other financial expense	(136)	0	(136)
Net income (loss) from equity affiliates	(1,546)	3,490	1,944
Income taxes	(5,284)	10	(5,274)
Less tax on cost of net debt	(22)	(35)	(57)
Net operating income	6,109	4,161	10,270
Financial interest on debt	(572)	0	(572)
Financial income and expense from cash & cash equivalents	245	(115)	130
Cost of net debt	(327)	(115)	(442)
Tax on cost of net debt	22	35	57
Net cost of net debt	(305)	(80)	(385)
Consolidated net income	5,804	4,081	9,885
TotalEnergies share	5,692	4,104	9,796
Non-controlling interests	112	(23)	89

24

RECONCILIATION OF NET INCOME (TOTALENERGIES SHARE) TO ADJUSTED NET OPERATING INCOME AND ADJUSTED OPERATING INCOME (CONT.)

1st half 2023	statement
(M$)	of income	Adjustments	Adjusted
Sales	118,874	0	118,874
Excise taxes	(9,107)	0	(9,107)
Revenues from sales	109,767	0	109,767
Purchases net of inventory variation	(72,215)	1,357	(70,858)
Other operating expenses	(15,691)	185	(15,506)
Exploration costs	(154)	(2)	(156)
Depreciation, depletion and impairment of tangible assets and mineral interests	(6,168)	183	(5,985)
Operating income	15,539	1,723	17,262
Other income	457	(264)	193
Other expense	(666)	273	(393)
Other financial income	671	(22)	649
Other financial expense	(356)	0	(356)
Net income (loss) from equity affiliates	1,227	514	1,741
Income taxes	(6,558)	(247)	(6,805)
Less tax on cost of net debt	7	(48)	(41)
Net operating income	10,321	1,929	12,250
Financial interest on debt	(1,434)	0	(1,434)
Financial income and expense from cash & cash equivalents	903	(128)	775
Cost of net debt	(531)	(128)	(659)
Tax on cost of net debt	(7)	48	41
Net cost of net debt	(538)	(80)	(618)
Consolidated net income	9,783	1,849	11,632
TotalEnergies share	9,645	1,852	11,497
Non-controlling interests	138	(3)	135

1st half 2022	statement
(M$)	of income	Adjustments	Adjusted
Sales	143,380	3	143,383
Excise taxes	(8,985)	0	(8,985)
Revenues from sales	134,395	3	134,398
Purchases net of inventory variation	(85,091)	(1,694)	(86,785)
Other operating expenses	(15,664)	635	(15,029)
Exploration costs	(978)	725	(253)
Depreciation, depletion and impairment of tangible assets and mineral interests	(6,781)	595	(6,186)
Operating income	25,881	264	26,145
Other income	572	(22)	550
Other expense	(3,595)	2,797	(798)
Other financial income	434	(84)	350
Other financial expense	(271)	0	(271)
Net income (loss) from equity affiliates	(1,503)	5,308	3,805
Income taxes	(10,088)	90	(9,998)
Less tax on cost of net debt	(20)	(77)	(97)
Net operating income	11,410	8,276	19,686
Financial interest on debt	(1,034)	0	(1,034)
Financial income and expense from cash & cash equivalents	459	(270)	189
Cost of net debt	(575)	(270)	(845)
Tax on cost of net debt	20	77	97
Net cost of net debt	(555)	(193)	(748)
Consolidated net income	10,855	8,083	18,938
TotalEnergies share	10,636	8,137	18,773
Non-controlling interests	219	(54)	165

25

RECONCILIATION OF REVENUES FROM SALES TO ADJUSTED EBITDA AND NET INCOME (TOTALENERGIES SHARE)

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	In millions of dollars	1H23	1H22	1H22
				Adjusted items
51,458	58,309	70,460	-27%	Revenues from sales	109,767	134,398	-18%
(33,379)	(37,479)	(46,023)	ns	Purchases, net of inventory variation	(70,858)	(86,785)	ns
(7,754)	(7,752)	(7,620)	ns	Other operating expenses	(15,506)	(15,029)	ns
(62)	(94)	(117)	ns	Exploration costs	(156)	(253)	ns
116	77	429	-73%	Other income	193	550	-65%
(164)	(38)	(431)	ns	Other expense, excluding amortization and impairment of intangible assets	(202)	(604)	ns
401	248	231	+74%	Other financial income	649	350	+85%
(173)	(183)	(136)	ns	Other financial expense	(356)	(271)	ns
662	1,079	1,944	-66%	Net income (loss) from equity affiliates	1,741	3,805	-54%
11,105	14,167	18,737	-41%	Adjusted EBITDA	25,272	36,161	-30%
				Adjusted items
(2,959)	(3,026)	(3,038)	ns	Less: depreciation, depletion and impairment of tangible assets and mineral interests	(5,985)	(6,186)	ns
(92)	(99)	(98)	ns	Less: amortization of intangible assets	(191)	(194)	ns
(724)	(710)	(572)	ns	Less: financial interest on debt	(1,434)	(1,034)	ns
402	373	130	x3.1	Add: financial income and expense from cash & cash equivalents	775	189	x4.1
(2,715)	(4,090)	(5,274)	ns	Less: income taxes	(6,805)	(9,998)	ns
(61)	(74)	(89)	ns	Less: non-controlling interests	(135)	(165)	ns
(868)	(984)	(4,104)	ns	Add: adjustment - TotalEnergies share	(1,852)	(8,137)	ns
4,088	5,557	5,692	-28%	Net income - TotalEnergies share	9,645	10,636	-9%

26

INVESTMENTS – DIVESTMENTS

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	In millions of dollars	1H23	1H22	1H22
4,271	3,433	2,819	+51%	Organic investments (a)	7,704	4,800	+60%
328	205	98	x3.3	Capitalized exploration	533	212	x2.5
366	374	277	+32%	Increase in non-current loans	740	511	+45%
(84)	(229)	(174)	ns	Repayment of non-current loans, excluding organic loan repayment from equity affiliates	(313)	(609)	ns
–	–	(190)	-100%	Change in debt from renewable projects (TotalEnergies share)	–	(190)	-100%
482	3,256	2,464	-80%	Acquisitions (b)	3,738	3,864	-3%
162	269	388	-58%	Asset sales (c)	431	866	-50%
(35)	(3)	176	ns	Change in debt from renewable projects (partner share)	(38)	174	ns
320	2,987	2,076	-85%	Net acquisitions	3,307	2,998	+10%
4,591	6,420	4,895	-6%	Net investments (a + b - c)	11,011	7,798	+41%
–	–	–	ns	Other transactions with non-controlling interests (d)	–	–	ns
(18)	6	(238)	ns	Organic loan repayment from equity affiliates (e)	(12)	(725)	ns
(35)	(3)	366	ns	Change in debt from renewable projects financing* (f)	(38)	364	ns
64	60	37	+73%	Capex linked to capitalized leasing contracts (g)	124	73	+70%
1	1	4	-75%	Expenditures related to carbon credits ( h )	2	4	-50%
4,473	6,362	4,982	-10%	Cash flow used in investing activities (a + b - c + d + e + f - g - h)	10,835	7,360	+47%

* Change in debt from renewable projects (TotalEnergies share and partner share).

CASH FLOW

			2Q23				1H23
			vs				vs
2Q23	1Q23	2Q22	2Q22	In millions of dollars	1H23	1H22	1H22
9,900	5,133	16,284	-39%	Cash flow from operating activities	15,033	23,901	-37%
1,720	(3,989)	2,161	-20%	Less (Increase) decrease in working capital**	(2,269)	(2,614)	ns
(252)	(502)	1,151	ns	Less Inventory effect	(754)	2,406	ns
(35)	(3)	(23)	ns	Less Capital gain from renewable project sales	(38)	(25)	ns
(18)	6	(238)	ns	Less Organic loan repayments from equity affiliates	(12)	(725)	ns
8,485	9,621	13,233	-36%	Operating cash flow before working capital changes ( a )*	18,106	24,859	-27%
(112)	(153)	(399)	ns	Financial charges	(265)	(767)	ns
8,596	9,774	13,631	-37%	Operating cash flow before working capital changes w/o financial charges (DACF)	18,371	25,626	-28%
4,271	3,433	2,819	+51%	Organic investments (b)	7,704	4,800	+60%
4,214	6,188	10,414	-60%	Free cash flow after organic investments, w/o net asset sales (a - b)	10,402	20,059	-48%
4,591	6,420	4,895	-6%	Net investments (c)	11,011	7,798	+41%
3,894	3,201	8,338	-53%	Net cash flow (a - c)	7,095	17,061	-58%

* Operating cash flow before working capital changes, is defined as cash flow from operating activities before changes in working capital at replacement cost, excluding the mark-to-market effect of Integrated LNG and Integrated Power sectors’ contracts and including capital gain from renewable projects sale. Historical data have been restated to cancel the impact of fair valuation of Integrated LNG and Integrated Power sectors’ contracts.

** Changes in working capital are presented excluding the mark-to-market effect of Integrated LNG and Integrated Power sectors’ contracts.

27

CASH FLOW BY SEGMENT

Exploration & Production segment

In millions of dollars	2Q23	1Q23	2Q22	1H23	1H22
Cash flow from operating activities	4,047	4,536	8,768	8,583	14,536
Less (Increase) decrease in working capital	(317)	(371)	1,384	(688)	(127)
Less Inventory effect	–	–	–	–	–
Less Capital gain from renewable project sales	–	–	–	–	–
Less Organic loan repayments from equity affiliates	–	–	1	–	(23)
= Operating cash flow before working capital changes w/o financial charges except those related to leases (DACF)	4,364	4,907	7,383	9,271	14,686

Integrated LNG segment

In millions of dollars	2Q23	1Q23	2Q22	1H23	1H22
Cash flow from operating activities	1,332	3,536	3,802	4,868	6,021
Less (Increase) decrease in working capital*	(469)	1,456	1,926	987	2,120
Less Inventory effect	–	–	–	–	–
Less Capital gain from renewable project sales	–	–	–	–	–
Less Organic loan repayments from equity affiliates	–	(1)	(236)	(1)	(703)
= Operating cash flow before working capital changes w/o financial charges except those related to leases (DACF)	1,801	2,081	2,112	3,882	4,604

* Changes in working capital are presented excluding the mark-to-market effect of Integrated LNG and Integrated Power sectors’ contracts.

Integrated Power segment

In millions of dollars	2Q23	1Q23	2Q22	1H23	1H22
Cash flow from operating activities	2,284	(1,285)	168	999	(1,736)
Less (Increase) decrease in working capital*	1,844	(1,715)	(57)	129	(2,052)
Less Inventory effect	–	–	–	–	–
Less Capital gain from renewable project sales	(35)	(3)	(23)	(38)	(25)
Less Organic loan repayments from equity affiliates	(16)	(7)	–	(23)	–
= Operating cash flow before working capital changes w/o financial charges except those related to leases (DACF)	491	440	248	931	341

* Changes in working capital are presented excluding the mark-to-market effect of Integrated LNG and Integrated Power sectors’ contracts.

Refining & Chemicals segment

In millions of dollars	2Q23	1Q23	2Q22	1H23	1H22
Cash flow from operating activities	1,923	(851)	3,526	1,072	4,633
Less (Increase) decrease in working capital	788	(2,183)	(209)	(1,395)	(1,486)
Less Inventory effect	(192)	(415)	775	(607)	1,722
Less Capital gain from renewable project sales	–	–	–	–	–
Less Organic loan repayments from equity affiliates	(2)	14	(3)	12	1
= Operating cash flow before working capital changes w/o financial charges except those related to leases (DACF)	1,329	1,733	2,963	3,062	4,396

Marketing & Services segment

In millions of dollars	2Q23	1Q23	2Q22	1H23	1H22
Cash flow from operating activities	665	(673)	580	(8)	1,478
Less (Increase) decrease in working capital	(31)	(1,042)	(381)	(1,073)	(254)
Less Inventory effect	(60)	(87)	376	(147)	684
Less Capital gain from renewable project sales	–	–	–	–	–
Less Organic loan repayments from equity affiliates	–	–	–	–	–
= Operating cash flow before working capital changes w/o financial charges except those related to leases (DACF)	756	456	585	1,212	1,048

28

GEARING¹⁴ RATIO

In millions of dollars	06/30/2023	03/31/2023	06/30/2022
Current borrowings (1)	13,980	16,280	14,589
Other current financial liabilities	443	597	401
Current financial assets (1),(2)	(6,397)	(7,223)	(7,697)
Net financial assets classified as held for sale (1)	(41)	(38)	(14)
Non-current financial debt (1)	33,387	34,820	39,233
Non-current financial assets (1)	(1,264)	(1,101)	(692)
Cash and cash equivalents	(25,572)	(27,985)	(32,848)
Net debt (a)	14,536	15,350	12,972
Shareholders’ equity – TotalEnergies share	113,682	115,581	116,688
Non-controlling interests	2,770	2,863	3,309
Shareholders’ equity (b)	116,452	118,444	119,997
Net-debt-to-capital ratio = a / (a+b)	11.1%	11.5%	9.8%
Leases (c)	8,090	8,131	7,963
Net-debt-to-capital ratio including leases (a+c) / (a+b+c)	16.3%	16.5%	14.9%

(1) Excludes leases receivables and leases debts.

(2) Including initial margins held as part of the Company's activities on organized markets.

RETURN ON AVERAGE CAPITAL EMPLOYED (ROACE)¹⁵

Twelve months ended June 30, 2023

	Exploration &		Integrated	Refining &	Marketing
In millions of dollars	Production	Integrated LNG	Power	Chemicals	& Services	Company
Adjusted net operating income	12,747	9,223	1,537	6,044	1,541	30,776
Capital employed at 06/30/2022*	70,248	41,606	12,568	7,958	7,475	137,035
Capital employed at 06/30/2023*	68,530	34,598	17,804	9,698	8,796	137,372
ROACE15	18.4%	24.2%	10.1%	68.5%	18.9%	22.4%

* At replacement cost (excluding after-tax inventory effect).

Twelve months ended March 31, 2023

	Exploration &		Integrated	Refining &	Marketing
In millions of dollars	Production	Integrated LNG	Power	Chemicals	& Services	Company
Adjusted net operating income	15,117	10,108	1,427	7,800	1,558	35,712
Capital employed at 03/31/2022*	71,518	44,803	9,937	8,847	7,751	141,853
Capital employed at 03/31/2023*	67,658	34,183	18,982	10,115	8,811	139,830
ROACE15	21.7%	25.6%	9.9%	82.3%	18.8%	25.4%

* At replacement cost (excluding after-tax inventory effect).

¹⁴ Gearing is a non-GAAP measure. The definition of Gearing is available in the “Glossary” on page 31 of this exhibit.

¹⁵ Return on Average Capital Employed (ROACE) is a non-GAAP measure. The definition of Return on Average Capital Employed (ROACE) is available in the “Glossary” on page 31 of this exhibit.

29

RECONCILIATION OF ROACE

For the ended year Jun 30, 2023	For the ended year Jun 30, 2023
(M$)	(M$)
Adjusted net operating income 3rd quarter 2022	10,313
Adjusted net operating income 4th quarter 2022	8,213
Adjusted net operating income 1st quarter 2023	6,916
Adjusted net operating income 2nd quarter 2023	5,334
Adjusted net operating income	30,776
Balance sheet as of Jun 30, 2022
Property, plant and equipment, intangible assets, net	138,474
Investments & loans in equity affiliates	28,210
Other non-current assets	9,196
Working capital	2,693
Provisions and other non-current liabilities	(37,883)
Assets and liabilities classified as held for sale	243
Capital Employed (Balance sheet)	140,932
Less inventory valuation effect	(3,897)
Capital Employed (Business segment information)	137,035
Balance sheet as of Jun 30, 2023
Property, plant and equipment, intangible assets, net	135,891
Investments & loans in equity affiliates	30,425
Other non-current assets	7,412
Working capital	(7,401)
Provisions and other non-current liabilities	(34,404)
Assets and liabilities classified as held for sale	7,157
Capital Employed (Balance sheet)	139,080
Less inventory valuation effect	(1,708)
Capital Employed (Business segment information)	137,372
ROACE as a percentage	22.4%

For the ended year March 31, 2023	For the ended year March 31, 2023
(M$)	(M$)
Adjusted net operating income 2nd quarter 2022	10,270
Adjusted net operating income 3rd quarter 2022	10,313
Adjusted net operating income 4th quarter 2022	8,213
Adjusted net operating income 1st quarter 2023	6,916
Adjusted net operating income	35,712
Balance sheet as of March 31, 2022
Property, plant and equipment, intangible assets, net	136,954
Investments & loans in equity affiliates	29,334
Other non-current assets	9,822
Working capital	3,591
Provisions and other non-current liabilities	(35,540)
Assets and liabilities classified as held for sale	775
Capital Employed (Balance sheet)	144,936
Less inventory valuation effect	(3,083)
Capital Employed (Business segment information)	141,853
Balance sheet as of March 31, 2023
Property, plant and equipment, intangible assets, net	140,733
Investments & loans in equity affiliates	29,997
Other non-current assets	8,690
Working capital	(3,547)
Provisions and other non-current liabilities	(34,410)
Assets and liabilities classified as held for sale	463
Capital Employed (Balance sheet)	141,926
Less inventory valuation effect	(2,096)
Capital Employed (Business segment information)	139,830
ROACE as a percentage	25.4%

30

GLOSSARY

Adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) is a non-GAAP financial measure and its most directly comparable IFRS measure is Net income. It refers to the adjusted earnings before depreciation, depletion and impairment of tangible and intangible assets and mineral interests, income tax expense and cost of net debt, i.e., all operating income and contribution of equity affiliates to net income. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to measure and compare the Company’s profitability with utility companies.

Adjusted net income is a non-GAAP financial measure and its most directly comparable IFRS measure is Net income. Adjusted net income refers to net income less adjustment items to net income. Adjustment items are inventory valuation effect, effect of changes in fair value, and special items. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to evaluate the Company’s operating results and to understand its operating trends by removing the impact of non-operational results and special items.

Adjusted net operating income is a non-GAAP financial measure and its most directly comparable IFRS measure is Net income. Adjusted net operating income refers to Net operating income less adjustment items. Net operating income refers to Net income before net cost of net debt, i.e., cost of net debt net of its tax effects. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to evaluate the Company’s operating results and understanding its operating trends, by removing the impact of non-operational results and special items and is used to evaluate the return on capital employed (ROACE) as explained below.

Adjusted operating income is a non-GAAP financial measure and its most comparable IFRS measure is Operating income. Adjusted operating income refers to Operating income less adjustment items. Operating income refers to Net operating income before Net income (loss) from equity affiliates and other items and Tax on net operating income. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to evaluate the Company’s operating results and understand its operating trends, by removing the impact of non-operational results and special items.

Debt adjusted cash flow (DACF) is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. DACF is defined as operating cash flow before working capital changes and without financial charges. This indicator can be a valuable tool for decision makers, analysts and shareholders alike because it corresponds to the funds theoretically available to the Company for investments, debt repayment and distribution to shareholders, and therefore facilitates comparison of the Company’s results of operations with those of other registrants, independent of their capital structure and working capital requirements. By exception, DACF at segment level excludes financial charges except those related to leases. This sub-indicator can be a valuable tool for decision makers, analysts and shareholders alike because it corresponds to the funds theoretically generated by the segment once we have excluded financial charges, except those related to leases.

Free cash flow after organic investments, without net asset sales is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Free cash flow after organic investments, without net asset sales refers to Operating cash flow before working capital changes minus organic investments. Organic investments refer to net investments excluding acquisitions, asset sales and other transactions with non-controlling interests. This indicator can be a valuable tool for decision makers, analysts and shareholders alike because it illustrates operating cash flow generated by the business post allocation of cash for organic investments.

Gearing is a non-GAAP financial measure and its most directly comparable IFRS measure is the ratio of total financial liabilities to total equity. Gearing is a Net-debt-to-capital ratio, which is calculated as the ratio of Net debt excluding leases to Equity + Net debt excluding leases. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to assess the strength of the Company’s balance sheet.

Net cash flow is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Net cash flow refers to Operating cash flow before working capital changes minus net investments. Net investments is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow used in investing activities. Net investments refer to Cash flow used in investing activities including other transactions with non-controlling interests, including change in debt from renewable projects financing, including expenditures related to carbon credits, excluding organic loan repayment from equity affiliates and excluding capex linked to capitalized leasing contracts. Net cash flow can be a valuable tool for decision makers, analysts and shareholders alike because it illustrates cash flow generated by the operations of the Company post allocation of cash for organic investments and net acquisitions (acquisitions - assets sales - other operations with non-controlling interests). This performance indicator corresponds to the cash flow available to repay debt and allocate cash to shareholder distribution or share buybacks.

31

Operating cash flow before working capital changes is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Operating cash flow before working capital changes is defined as cash flow from operating activities before changes in working capital at replacement cost, excluding the mark-to-market effect of Integrated Gas and Integrated Power contracts, including capital gain from renewable projects sales and including organic loan repayments from equity affiliates. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to help understand changes in cash flow from operating activities, excluding the impact of working capital changes across periods on a consistent basis and with the performance of peer companies in a manner that, when viewed in combination with the Company’s results prepared in accordance with GAAP, provides a more complete understanding of the factors and trends affecting the Company’s business and performance. This performance indicator is used by the Company as a base for its cash flow allocation and notably to guide on the share of its cash flow to be allocated to the distribution to shareholders.

Return on Average Capital Employed (ROACE) is a non-GAAP financial measure and its most directly comparable IFRS measure is the ratio of Net operating income to average capital employed between the beginning and the end of the period. ROACE is the ratio of adjusted net operating income to average capital employed at replacement cost between the beginning and the end of the period. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to measure the profitability of the Company’s capital employed in its business operations and is used by the Company to benchmark its performance internally and externally with its peers.

MAIN INDICATORS

		2Q23	1Q23	4Q22	3Q22	2Q22
€/$		1.08	1.07	1.02	1.01	1.06
Brent	($/b)	78.1	81.2	88.8	100.8	113.9
Average liquids price*	($/b)	72.0	73.4	80.6	93.6	102.9
Average gas price* (1)	($/Mbtu)	5.98	8.89	12.74	16.83	11.01
Average LNG price** (1)	($/Mbtu)	9.84	13.27	14.83	21.51	13.96
Variable Cost Margin, European refining***	($/t)	42.7	87.8	73.6	99.2	145.7

* Sales in $ / sales in volume for consolidated affiliates.

** Sales in $ / sales in volume for consolidated and equity affiliates.

(1) Does not take into account gas and LNG trading activities, which results are expected to be significantly higher compared to the third quarter 2021, capturing optimization opportunities generated by large LNG trading portfolio in the prevailing high gas spot price environment.

*** This indicator represents the average margin on variable costs realized by TotalEnergies’ European refining business (equal to the difference between the sales of refined products realized by TotalEnergies’ European refining and the crude purchases as well as associated variable costs, divided by refinery throughput in tons).

Disclaimer: Data is based on TotalEnergies’ reporting and is not audited.

32

CONSOLIDATED STATEMENT OF INCOME

TotalEnergies

(unaudited)

	2nd quarter	1st quarter	2nd quarter
(M$)(a)	2023	2023	2022
Sales	56,271	62,603	74,774
Excise taxes	(4,737)	(4,370)	(4,329)
Revenues from sales	51,534	58,233	70,445
Purchases, net of inventory variation	(33,864)	(38,351)	(45,443)
Other operating expenses	(7,906)	(7,785)	(8,041)
Exploration costs	(62)	(92)	(117)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,106)	(3,062)	(3,102)
Other income	116	341	429
Other expense	(366)	(300)	(1,305)
Financial interest on debt	(724)	(710)	(572)
Financial income and expense from cash & cash equivalents	510	393	245
Cost of net debt	(214)	(317)	(327)
Other financial income	413	258	231
Other financial expense	(173)	(183)	(136)
Net income (loss) from equity affiliates	267	960	(1,546)
Income taxes	(2,487)	(4,071)	(5,284)
Consolidated net income	4,152	5,631	5,804
TotalEnergies share	4,088	5,557	5,692
Non-controlling interests	64	74	112
Earnings per share ($)	1.65	2.23	2.18
Fully-diluted earnings per share ($)	1.64	2.21	2.16

(a)   Except for per share amounts.

33

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

TotalEnergies

(unaudited)

	2nd quarter	1st quarter	2nd quarter
(M$)	2023	2023	2022
Consolidated net income	4,152	5,631	5,804
Other comprehensive income
Actuarial gains and losses	135	3	204
Change in fair value of investments in equity instruments	(1)	4	(20)
Tax effect	(43)	(8)	(53)
Currency translation adjustment generated by the parent company	(57)	1,466	(5,387)
Items not potentially reclassifiable to profit and loss	34	1,465	(5,256)
Currency translation adjustment	(49)	(1,250)	2,523
Cash flow hedge	689	1,202	3,222
Variation of foreign currency basis spread	11	(3)	21
share of other comprehensive income of equity affiliates, net amount	3	(98)	2,548
Other	(4)	3	(1)
Tax effect	(136)	(336)	(1,112)
Items potentially reclassifiable to profit and loss	514	(482)	7,201
Total other comprehensive income (net amount)	548	983	1,945
Comprehensive income	4,700	6,614	7,749
TotalEnergies share	4,676	6,550	7,705
Non-controlling interests	24	64	44

34

CONSOLIDATED STATEMENT OF INCOME

TotalEnergies

(unaudited)

	1st half	1st half
(M$)(a)	2023	2022
Sales	118,874	143,380
Excise taxes	(9,107)	(8,985)
Revenues from sales	109,767	134,395
Purchases, net of inventory variation	(72,215)	(85,091)
Other operating expenses	(15,691)	(15,664)
Exploration costs	(154)	(978)
Depreciation, depletion and impairment of tangible assets and mineral interests	(6,168)	(6,781)
Other income	457	572
Other expense	(666)	(3,595)
Financial interest on debt	(1,434)	(1,034)
Financial income and expense from cash & cash equivalents	903	459
Cost of net debt	(531)	(575)
Other financial income	671	434
Other financial expense	(356)	(271)
Net income (loss) from equity affiliates	1,227	(1,503)
Income taxes	(6,558)	(10,088)
Consolidated net income	9,783	10,855
TotalEnergies share	9,645	10,636
Non-controlling interests	138	219
Earnings per share ($)	3.88	4.04
Fully-diluted earnings per share ($)	3.86	4.02

(a)   Except for per share amounts.

35

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

TotalEnergies

(unaudited)

	1st half	1st half
(M$)	2023	2022
Consolidated net income	9,783	10,855
Other comprehensive income
Actuarial gains and losses	138	204
Change in fair value of investments in equity instruments	3	(17)
Tax effect	(51)	(42)
Currency translation adjustment generated by the parent company	1,409	(7,137)
Items not potentially reclassifiable to profit and loss	1,499	(6,992)
Currency translation adjustment	(1,299)	3,535
Cash flow hedge	1,891	2,959
Variation of foreign currency basis spread	8	70
share of other comprehensive income of equity affiliates, net amount	(95)	2,464
Other	(1)	(1)
Tax effect	(472)	(1,059)
Items potentially reclassifiable to profit and loss	32	7,968
Total other comprehensive income (net amount)	1,531	976
Comprehensive income	11,314	11,831
TotalEnergies share	11,226	11,658
Non-controlling interests	88	173

36

CONSOLIDATED BALANCE SHEET

TotalEnergies

	June 30,	March 31,	December 31,	June 30,
	2023	2023	2022	2022
(M$)	(unaudited)	(unaudited)		(unaudited)
ASSETS
Non-current assets
Intangible assets, net	31,717	33,234	31,931	37,020
Property, plant and equipment, net	104,174	107,499	107,101	101,454
Equity affiliates : investments and loans	30,425	29,997	27,889	28,210
Other investments	1,190	1,209	1,051	1,383
Non-current financial assets	2,494	2,357	2,731	1,612
Deferred income taxes	3,649	4,772	5,049	4,737
Other non-current assets	2,573	2,709	2,388	3,075
Total non-current assets	176,222	181,777	178,140	177,491
Current assets
Inventories, net	18,785	22,786	22,936	28,542
Accounts receivable, net	22,163	24,128	24,378	30,796
Other current assets	23,111	28,153	36,070	55,553
Current financial assets	6,725	7,535	8,746	7,863
Cash and cash equivalents	25,572	27,985	33,026	32,848
Assets classified as held for sale	8,441	668	568	313
Total current assets	104,797	111,255	125,724	155,915
Total assets	281,019	293,032	303,864	333,406
LIABILITIES & SHAREHOLDERS' EQUITY
Shareholders’ equity
Common shares	7,850	7,828	8,163	8,163
Paid-in surplus and retained earnings	123,511	123,357	123,951	125,554
Currency translation adjustment	(12,859)	(12,784)	(12,836)	(14,019)
Treasury shares	(4,820)	(2,820)	(7,554)	(3,010)
Total shareholders’ equity - TotalEnergies share	113,682	115,581	111,724	116,688
Non-controlling interests	2,770	2,863	2,846	3,309
Total shareholders’ equity	116,452	118,444	114,570	119,997
Non-current liabilities
Deferred income taxes	11,237	11,300	11,021	12,169
Employee benefits	1,872	1,840	1,829	2,341
Provisions and other non-current liabilities	21,295	21,270	21,402	23,373
Non-current financial debt	40,427	42,915	45,264	46,868
Total non-current liabilities	74,831	77,325	79,516	84,751
Current liabilities
Accounts payable	32,853	36,037	41,346	49,700
Other creditors and accrued liabilities	38,609	42,578	52,275	62,498
Current borrowings	15,542	17,884	15,502	16,003
Other current financial liabilities	443	597	488	401
Liabilities directly associated with the assets classified as held for sale	2,289	167	167	56
Total current liabilities	89,736	97,263	109,778	128,658
Total liabilities & shareholders’ equity	281,019	293,032	303,864	333,406

37

CONSOLIDATED STATEMENT OF CASH FLOW

TotalEnergies

(unaudited)

	2nd quarter	1st quarter	2nd quarter
(M$)	2023	2023	2022
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income	4,152	5,631	5,804
Depreciation, depletion, amortization and impairment	3,195	3,187	3,321
Non-current liabilities, valuation allowances and deferred taxes	81	314	1,427
(Gains) losses on disposals of assets	(70)	(252)	(165)
Undistributed affiliates’ equity earnings	383	(349)	2,999
(Increase) decrease in working capital	2,125	(3,419)	2,498
Other changes, net	34	21	400
Cash flow from operating activities	9,900	5,133	16,284
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions	(3,870)	(4,968)	(5,150)
Acquisitions of subsidiaries, net of cash acquired	(19)	(136)	(82)
Investments in equity affiliates and other securities	(522)	(1,407)	(136)
Increase in non-current loans	(366)	(389)	(278)
Total expenditures	(4,777)	(6,900)	(5,646)
Proceeds from disposals of intangible assets and property, plant and equipment	31	68	153
Proceeds from disposals of subsidiaries, net of cash sold	38	183	63
Proceeds from disposals of non-current investments	133	49	35
Repayment of non-current loans	102	238	413
Total divestments	304	538	664
Cash flow used in investing activities	(4,473)	(6,362)	(4,982)
CASH FLOW USED IN FINANCING ACTIVITIES
Issuance (repayment) of shares:
- Parent company shareholders	383	-	371
- Treasury shares	(2,002)	(2,103)	(1,988)
Dividends paid:
- Parent company shareholders	(1,842)	(1,844)	(1,825)
- Non-controlling interests	(105)	(21)	(97)
Net issuance (repayment) of perpetual subordinated notes	(1,081)	-	(1,958)
Payments on perpetual subordinated notes	(80)	(158)	(138)
Other transactions with non-controlling interests	(13)	(86)	(10)
Net issuance (repayment) of non-current debt	(14)	118	508
Increase (decrease) in current borrowings	(4,111)	(1,274)	(2,703)
Increase (decrease) in current financial assets and liabilities	990	1,394	(731)
Cash flow from (used in) financing activities	(7,875)	(3,974)	(8,571)
Net increase (decrease) in cash and cash equivalents	(2,448)	(5,203)	2,731
Effect of exchange rates	35	162	(1,159)
Cash and cash equivalents at the beginning of the period	27,985	33,026	31,276
Cash and cash equivalents at the end of the period	25,572	27,985	32,848

38

CONSOLIDATED STATEMENT OF CASH FLOW

TotalEnergies

(unaudited)

	1st half	1st half
(M$)	2023	2022
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income	9,783	10,855
Depreciation, depletion, amortization and impairment	6,382	7,899
Non-current liabilities, valuation allowances and deferred taxes	395	3,965
(Gains) losses on disposals of assets	(322)	(178)
Undistributed affiliates’ equity earnings	34	3,261
(Increase) decrease in working capital	(1,294)	(2,425)
Other changes, net	55	524
Cash flow from operating activities	15,033	23,901
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions	(8,838)	(8,607)
Acquisitions of subsidiaries, net of cash acquired	(155)	(82)
Investments in equity affiliates and other securities	(1,929)	(225)
Increase in non-current loans	(755)	(519)
Total expenditures	(11,677)	(9,433)
Proceeds from disposals of intangible assets and property, plant and equipment	99	330
Proceeds from disposals of subsidiaries, net of cash sold	221	151
Proceeds from disposals of non-current investments	182	250
Repayment of non-current loans	340	1,342
Total divestments	842	2,073
Cash flow used in investing activities	(10,835)	(7,360)
CASH FLOW USED IN FINANCING ACTIVITIES
Issuance (repayment) of shares:
- Parent company shareholders	383	371
- Treasury shares	(4,105)	(3,164)
Dividends paid:
- Parent company shareholders	(3,686)	(3,753)
- Non-controlling interests	(126)	(119)
Net issuance (repayment) of perpetual subordinated notes	(1,081)	-
Payments on perpetual subordinated notes	(238)	(274)
Other transactions with non-controlling interests	(99)	(5)
Net issuance (repayment) of non-current debt	104	542
Increase (decrease) in current borrowings	(5,385)	(2,046)
Increase (decrease) in current financial assets and liabilities	2,384	4,863
Cash flow from (used in) financing activities	(11,849)	(3,585)
Net increase (decrease) in cash and cash equivalents	(7,651)	12,956
Effect of exchange rates	197	(1,450)
Cash and cash equivalents at the beginning of the period	33,026	21,342
Cash and cash equivalents at the end of the period	25,572	32,848

39

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

TotalEnergies

(unaudited)

			Paid-in				Shareholders’
			surplus and	Currency			equity -	Non-	Total
	Common shares issued		retained	translation	Treasury shares		TotalEnergies	controlling	shareholders’
(M$)	Number	Amount	earnings	adjustment	Number	Amount	Share	interests	equity
As of January 1, 2022	2,640,429,329	8,224	117,849	(12,671)	(33,841,104)	(1,666)	111,736	3,263	114,999
Net income of the first half 2022	-	-	10,636	-	-	-	10,636	219	10,855
Other comprehensive income	-	-	2,370	(1,348)	-	-	1,022	(46)	976
Comprehensive Income	-	-	13,006	(1,348)	-	-	11,658	173	11,831
Dividend	-	-	(3,803)	-	-	-	(3,803)	(119)	(3,922)
Issuance of common shares	9,367,482	26	345	-	-	-	371	-	371
Purchase of treasury shares	-	-	-	-	(58,458,536)	(3,164)	(3,164)	-	(3,164)
Sale of treasury shares(a)	-	-	(315)	-	6,168,197	315	-	-	-
Share-based payments	-	-	157	-	-	-	157	-	157
Share cancellation	(30,665,526)	(87)	(1,418)	-	30,665,526	1,505	-	-	-
Net issuance (repayment) of perpetual subordinated notes	-	-	(44)	-	-	-	(44)	-	(44)
Payments on perpetual subordinated notes	-	-	(183)	-	-	-	(183)	-	(183)
Other operations with non-controlling interests	-	-	4	—	-	-	4	(9)	(5)
Other items	-	-	(44)	—	-	-	(44)	1	(43)
As of June 30, 2022	2,619,131,285	8,163	125,554	(14,019)	(55,465,917)	(3,010)	116,688	3,309	119,997
Net income of the second half 2022	-	-	9,890	-	-	-	9,890	299	10,189
Other comprehensive income	-	-	(5,303)	1,174	-	-	(4,129)	44	(4,085)
Comprehensive Income	-	-	4,587	1,174	-	-	5,761	343	6,104
Dividend	-	-	(6,186)	-	-	-	(6,186)	(417)	(6,603)
Issuance of common shares	-	-	(1)	-	-	-	(1)	-	(1)
Purchase of treasury shares	-	-	-	-	(81,749,207)	(4,547)	(4,547)	-	(4,547)
Sale of treasury shares(a)	-	-	(3)	-	27,457	3	-	-	-
Share-based payments	-	-	72	-	-	-	72	-	72
Share cancellation	-	-	-	-	-	-	-	-	-
Net issuance (repayment) of perpetual subordinated notes	-	-	-	-	-	-	-	-	-
Payments on perpetual subordinated notes	-	-	(148)	-	-	-	(148)	-	(148)
Other operations with non-controlling interests	-	-	41	9	-	-	50	46	96
Other items	-	-	35	-	-	-	35	(435)	(400)
As of December 31, 2022	2,619,131,285	8,163	123,951	(12,836)	(137,187,667)	(7,554)	111,724	2,846	114,570
Net income of the first half 2023	-	-	9,645	-	-	-	9,645	138	9,783
Other comprehensive income	-	-	1,576	5	-	-	1,581	(50)	1,531
Comprehensive Income	-	-	11,221	5	-	-	11,226	88	11,314
Dividend	-	-	(3,868)	-	-	-	(3,868)	(126)	(3,994)
Issuance of common shares	8,002,155	22	361	-	-	-	383	-	383
Purchase of treasury shares	-	-	-	-	(66,647,852)	(4,705)	(4,705)	-	(4,705)
Sale of treasury shares(a)	-	-	(396)	-	6,461,256	396	-	-	-
Share-based payments	-	-	172	-	-	-	172	-	172
Share cancellation	(128,869,261)	(335)	(6,708)	-	128,869,261	7,043	-	-	-
Net issuance (repayment) of perpetual subordinated notes	-	-	(1,107)	-	-	-	(1,107)	-	(1,107)
Payments on perpetual subordinated notes	-	-	(151)	-	-	-	(151)	-	(151)
Other operations with non-controlling interests	-	-	39	(28)	-	-	11	(38)	(27)
Other items	-	-	(3)	-	-	-	(3)	-	(3)
As of June 30, 2023	2,498,264,179	7,850	123,511	(12,859)	(68,505,002)	(4,820)	113,682	2,770	116,452

^(a)Treasury shares related to the performance share grants.

40

TotalEnergies

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE FIRST SIX MONTHS 2023

(unaudited)

1) Basis of preparation of the consolidated financial statements

The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and IFRS as published by the International Accounting Standards Board (IASB).

The interim consolidated financial statements of TotalEnergies SE and its subsidiaries (the Company) as of June 30, 2023, are presented in U.S. dollars and have been prepared in accordance with International Accounting Standard (IAS) 34 “Interim Financial Reporting”.

The accounting principles applied for the consolidated financial statements at June 30, 2023, are consistent with those used for the financial statements at December 31, 2022.

The preparation of financial statements in accordance with IFRS for the closing as of June 30, 2023 requires the General Management to make estimates, assumptions and judgments that affect the information reported in the Consolidated Financial Statements and the Notes thereto.

These estimates, assumptions and judgments are based on historical experience and other factors believed to be reasonable at the date of preparation of the financial statements. They are reviewed on an on-going basis by General Management and therefore could be revised as circumstances change or as a result of new information.

The main estimates, judgments and assumptions relate to the estimation of hydrocarbon reserves in application of the successful efforts method for the oil and gas activities, asset impairments, employee benefits, asset retirement obligations and income taxes. These estimates and assumptions are described in the Notes to the Consolidated Financial Statements as of December 31, 2022.

The consolidated financial statements as of December 31, 2022 were impacted by the Russian-Ukrainian conflict. The Russian assets were fully depreciated, except for those relating to Yamal LNG. As of June 30, 2023, in the absence of any new event, assessments and judgments taken into account in the valuation of assets remain in place.

Different estimates, assumptions and judgments could significantly affect the information reported, and actual results may differ from the amounts included in the Consolidated Financial Statements and the Notes thereto.

Furthermore, when the accounting treatment of a specific transaction is not addressed by any accounting standard or interpretation, the General Management of the Company applies its judgment to define and apply accounting policies that provide information consistent with the general IFRS concepts: faithful representation, relevance and materiality.

2) Changes in the Company structure

2.1) Main acquisitions and divestments

Ø Exploration & Production

● In March 2023, TotalEnergies has signed an agreement with CEPSA to acquire CEPSA’s upstream assets in the United Arab Emirates with an effective date of January 1, 2023. The assets to be acquired are:

o a 20% participating interest in the Satah Al Razboot (SARB), Umm Lulu, Bin Nasher and Al Bateel (SARB and Umm Lulu) offshore concession.

The SARB and Umm Lulu concession includes two major offshore fields. ADNOC holds a 60% interest in this concession, alongside OMV (20%). The concession is operated by ADNOC Offshore.

41

o a 12.88% indirect interest in the Mubarraz concession held by Abu Dhabi Oil Company Ltd (ADOC), through the acquisition of 20% of Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd (CEPAD), a company holding a 64.4% interest in ADOC.

The Mubarraz concession is comprised of four producing offshore fields.

The SARB and Umm Lulu transaction was completed on March 15, 2023. The Mubarraz transaction was not completed following Cosmo’s decision to exercise its right of first refusal on the proposed transaction on April 21, 2023 in accordance with the terms of the agreements.

Ø Integrated LNG

● On June 12, 2022, following the request for proposals in relation to partner selection for the North Field East (NFE) liquified natural gas project, TotalEnergies has been awarded, a 25% interest in a new joint venture (JV), alongside the national company QatarEnergy (75)%. The new JV will hold a 25% interest in the 32 million tons per annum (Mtpa) NFE project, equivalent to one 8 Mtpa LNG train. The acquisition of the interest in this project was finalized in January 2023.

Ø Integrated Power

● On October 26, 2022, TotalEnergies and Casa dos Ventos (CDV), Brazil's leading renewable energy developer, announced the creation of a 34%(TTE)/66%(CDV) joint venture to jointly develop, build and operate the renewable portfolio of Casa Dos Ventos. This portfolio includes 700 MW of onshore wind capacity in operation, 1 GW of onshore wind under construction, 2.8 GW of onshore wind and 1.6 GW of solar projects under well advanced development (COD¹ within 5 years). Besides, the newly formed JV will have the right to acquire the current and new projects that are or will be developed by CDV as they reach execution stage. The transaction amounts to a payment of $0.5 billion and an earn-out of up to $30 million for the acquisition of a 34% stake in the JV. In addition, TotalEnergies will have the option to acquire an additional 15% equity share in 2027. The transaction was completed in January 2023.

2.2) Major business combinations

Ø Exploration & Production

● Acquisition of participating interest in SARB and Umm Lulu offshore concession

In accordance with IFRS 3 “Business combinations”, TotalEnergies is assessing the fair value of identifiable acquired assets, liabilities and contingent liabilities on the basis of available information. A preliminary purchase price allocation has been done in the second quarter following the acquisition, this assessment will be finalized within 12 months following the acquisition date.

2.3) Divestment projects

Ø Exploration & Production

On April 27, 2023, TotalEnergies announced the signature of an agreement with Suncor Energy Inc. for the sale of the entirety of the shares of TotalEnergies EP Canada Ltd for a consideration including a 5.5 billion Canadian dollar cash payment at closing (about US$4.1 billion) and additional payments that could reach a maximum of 600 million Canadian dollar (about US$450 million) under specific conditions. The transaction was subject to the waiver of TotalEnergies EP Canada Ltd’s partners pre-emption rights and customary closing conditions, notably the required approval from public authorities.

¹ Commercial Operation Date

42

On May 26, 2023 ConocoPhillips has notified TotalEnergies that it is exercising its preemption right to purchase the 50% interest in the Surmont asset held by TotalEnergies EP Canada Ltd. TotalEnergies will receive from ConocoPhillips a cash payment upon closing of 4.0 billion Canadian dollar (about US$3 billion) and additional payments that could reach a maximum of 440 million Canadian dollar (about US$325 million) under specific conditions for its 50% non-operated interest in the Surmont asset and associated logistics commitments. Closing is expected in the second half year of 2023.

Following the exercise by ConocoPhillips of its preemption right, TotalEnergies and Suncor are continuing discussions regarding the sale of TotalEnergies EP Canada Ltd shares, including the Fort Hills working interest and the associated logistics.

As of June 30, 2023, the assets and liabilities have been respectively classified in the consolidated balance sheet as “assets classified as held for sale” for an amount of $5,435 million and “liabilities classified as held for sale” for an amount of $893 million. These assets mainly include tangible assets.

Ø Marketing & Services

On March 16, 2023, TotalEnergies and Alimentation Couche-Tard have signed agreements covering TotalEnergies' retail networks in four European countries. As part of this agreement, TotalEnergies will join forces with Couche-Tard in Belgium and Luxembourg and transfer its networks in Germany and the Netherlands.

This planned transaction, which is based on an enterprise value of 3.1 billion euros, is subject to the usual conditions for completion, including the consultation processes of employee representatives and securing of the mandatory authorizations from competition authorities.

As of June 30, 2023, the assets and liabilities have been respectively classified in the consolidated balance sheet as “assets classified as held for sale” for an amount of $1,901 million and “liabilities classified as held for sale” for an amount of $1,227 million. These assets mainly include tangible assets.

3) Business segment information

Description of the business segments

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 and which is reviewed by the main operational decision-making body of the Company, namely the Executive Committee.

The operational profit and assets are broken down by business segment prior to the consolidation and inter-segment adjustments.

Sales prices between business segments approximate market prices.

The profitable growth in the LNG and power integrated value chains are two of the key axes of TotalEnergies’s strategy.

In order to give more visibility to these businesses, the Board of Directors has decided that from the first quarter 2023, Integrated LNG and Integrated Power results, previously grouped in the Integrated Gas, Renewables & Power (iGRP) segment, would be reported separately as two segments.

A new reporting structure for the business segments’ financial information has been put in place, effective January 1, 2023. It is based on the following five business segments:

- An Exploration-Production segment;

- An Integrated LNG segment covering LNG production and trading activities as well as biogas, hydrogen and gas trading activities;

- An Integrated Power segment covering generation, storage, electricity trading and B2B-B2C distribution of gas and electricity;

43

- A Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining, petrochemicals and specialty chemicals. This segment also includes the activities of oil Supply, Trading and marine Shipping;

- A Marketing & Services segment including the global activities of supply and marketing in the field of petroleum products;

In addition the Corporate segment includes holdings operating and financial activities.

This new segment reporting has been prepared in accordance with IFRS 8 and according to the same principles as the internal reporting followed by the TotalEnergies's Executive Committee.

For the Integrated LNG and Integrated Power segments, the principles for the preparation of this segment information are as follows:

- The management of balance sheet positions (including margin calls) related to to centralized markets access for LNG, gas and power activities since 2022 has been fully included in the Integrated LNG segment.

- Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of Integrated LNG segment.

- Effects of changes in the fair value of power positions are allocated to the operating income of Integrated Power segment.

Due to the change in the Company's internal organizational structure affecting the composition of the business segments, the segment reporting data for the years 2021 and 2022 has been restated.

Adjustment items

Performance indicators excluding the adjustment items, such as adjusted operating income, adjusted net operating income, and adjusted net income are meant to facilitate the analysis of the financial performance and the comparison of income between periods.

Adjustment items include:

(i) Special items

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 assets 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.

(ii) The 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 its 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 prices differential 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 methods.

44

(iii) Effect of changes in fair value

The effect of changes in fair value presented as adjustment items reflects for certain transactions differences between the internal measure of performance used by TotalEnergies’s 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 the Company’s internal economic performance. IFRS precludes recognition of this fair value effect.

Furthermore, TotalEnergies 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 and the effect of changes in fair value.

45

3.1) Information by business segment

1sthalf 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	3,388	6,892	14,804	49,704	44,071	15	-	118,874
Intersegment sales	20,836	8,777	2,355	17,691	321	121	(50,101)	-
Excise taxes	-	-	-	(415)	(8,692)	-	-	(9,107)
Revenues from sales	24,224	15,669	17,159	66,980	35,700	136	(50,101)	109,767
Operating expenses	(9,924)	(13,242)	(16,165)	(63,934)	(34,459)	(437)	50,101	(88,060)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,183)	(565)	(98)	(808)	(465)	(49)	-	(6,168)
Operating income	10,117	1,862	896	2,238	776	(350)	-	15,539
Net income (loss) from equity affiliates and other items	53	1,276	(320)	55	307	(38)	-	1,333
Tax on net operating income	(5,287)	(342)	(152)	(512)	(281)	23	-	(6,551)
Net operating income	4,883	2,796	424	1,781	802	(365)	-	10,321
Net cost of net debt								(538)
Non-controlling interests								(138)
Net income - TotalEnergies share								9,645

1sthalf 2023 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	-	-	-	-	-	-	-
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	-	-	-	-	-	-	-
Operating expenses	(33)	(700)	67	(640)	(177)	(57)	-	(1,540)
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)	-	-	(36)	-	-	-	(183)
Operating income (b)	(180)	(700)	67	(676)	(177)	(57)	-	(1,723)
Net income (loss) from equity affiliates and other items	(179)	12	(457)	(96)	217	2	-	(501)
Tax on net operating income	240	82	(6)	(69)	33	15	-	295
Net operating income (b)	(119)	(606)	(396)	(841)	73	(40)	-	(1,929)
Net cost of net debt								80
Non-controlling interests								(3)
Net income - TotalEnergies share								(1,852)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	(607)	(147)	-	-	-
- On net operating income		-	-	(659)	(109)	-	-	-

1sthalf 2023 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	3,388	6,892	14,804	49,704	44,071	15	-	118,874
Intersegment sales	20,836	8,777	2,355	17,691	321	121	(50,101)	-
Excise taxes	-	-	-	(415)	(8,692)	-	-	(9,107)
Revenues from sales	24,224	15,669	17,159	66,980	35,700	136	(50,101)	109,767
Operating expenses	(9,891)	(12,542)	(16,232)	(63,294)	(34,282)	(380)	50,101	(86,520)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,036)	(565)	(98)	(772)	(465)	(49)	-	(5,985)
Adjusted operating income	10,297	2,562	829	2,914	953	(293)	-	17,262
Net income (loss) from equity affiliates and other items	232	1,264	137	151	90	(40)	-	1,834
Tax on net operating income	(5,527)	(424)	(146)	(443)	(314)	8	-	(6,846)
Adjusted net operating income	5,002	3,402	820	2,622	729	(325)	-	12,250
Net cost of net debt								(618)
Non-controlling interests								(135)
Adjusted net income - TotalEnergies share								11,497

1sthalf 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	6,621	1,821	2,041	714	415	65	-	11,677
Total divestments	57	94	298	60	329	4	-	842
Cash flow from operating activities	8,583	4,868	999	1,072	(8)	(481)	-	15,033

46

1sthalf 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	4,672	9,408	13,167	66,069	50,056	8	-	143,380
Intersegment sales	27,623	7,438	1,009	22,062	983	133	(59,248)	-
Excise taxes	-	-	-	(378)	(8,607)	-	-	(8,985)
Revenues from sales	32,295	16,846	14,176	87,753	42,432	141	(59,248)	134,395
Operating expenses	(11,468)	(13,030)	(14,686)	(80,653)	(40,294)	(850)	59,248	(101,733)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,773)	(554)	(94)	(769)	(514)	(77)	-	(6,781)
Operating income	16,054	3,262	(604)	6,331	1,624	(786)	-	25,881
Net income (loss) from equity affiliates and other items	(3,426)	(1,869)	192	505	56	179	-	(4,363)
Tax on net operating income	(7,739)	(553)	(1)	(1,391)	(521)	97	-	(10,108)
Net operating income	4,889	840	(413)	5,445	1,159	(510)	-	11,410
Net cost of net debt								(555)
Non-controlling interests								(219)
Net income - TotalEnergies share								10,636

1sthalf 2022 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	(18)	15	-	-	-	-	(3)
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	(18)	15	-	-	-	-	(3)
Operating expenses	(873)	45	(768)	1,722	641	(433)	-	334
Depreciation, depletion and impairment of tangible assets and mineral interests	(539)	(14)	-	-	(33)	(9)	-	(595)
Operating income (b)	(1,412)	13	(753)	1,722	608	(442)	-	(264)
Net income (loss) from equity affiliates and other items	(3,770)	(4,508)	11	169	(7)	106	-	(7,999)
Tax on net operating income	337	(13)	71	(326)	(180)	98	-	(13)
Net operating income (b)	(4,845)	(4,508)	(671)	1,565	421	(238)	-	(8,276)
Net cost of net debt								193
Non-controlling interests								(54)
Net income - TotalEnergies share								(8,137)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	1,722	684	-
- On net operating income		-	-	1,597	503	-

1sthalf 2022 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	4,672	9,426	13,152	66,069	50,056	8	-	143,383
Intersegment sales	27,623	7,438	1,009	22,062	983	133	(59,248)	-
Excise taxes	-	-	-	(378)	(8,607)	-	-	(8,985)
Revenues from sales	32,295	16,864	14,161	87,753	42,432	141	(59,248)	134,398
Operating expenses	(10,595)	(13,075)	(13,918)	(82,375)	(40,935)	(417)	59,248	(102,067)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,234)	(540)	(94)	(769)	(481)	(68)	-	(6,186)
Adjusted operating income	17,466	3,249	149	4,609	1,016	(344)	-	26,145
Net income (loss) from equity affiliates and other items	344	2,639	181	336	63	73	-	3,636
Tax on net operating income	(8,076)	(540)	(72)	(1,065)	(341)	(1)	-	(10,095)
Adjusted net operating income	9,734	5,348	258	3,880	738	(272)	-	19,686
Net cost of net debt								(748)
Non-controlling interests								(165)
Adjusted net income - TotalEnergies share								18,773

1sthalf 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	6,099	575	1,736	561	428	34	-	9,433
Total divestments	346	1,237	244	83	151	12	-	2,073
Cash flow from operating activities	14,536	6,021	(1,736)	4,633	1,478	(1,031)	-	23,901

47

2nd quarter 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	1,434	2,020	6,249	24,849	21,712	7	-	56,271
Intersegment sales	10,108	2,778	670	8,630	201	64	(22,451)	-
Excise taxes	-	-	-	(231)	(4,506)	-	-	(4,737)
Revenues from sales	11,542	4,798	6,919	33,248	17,407	71	(22,451)	51,534
Operating expenses	(5,162)	(3,797)	(6,334)	(32,042)	(16,672)	(276)	22,451	(41,832)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,117)	(277)	(51)	(394)	(241)	(26)	-	(3,106)
Operating income	4,263	724	534	812	494	(231)	-	6,596
Net income (loss) from equity affiliates and other items	(15)	472	(250)	3	64	(17)	-	257
Tax on net operating income	(1,889)	(137)	(41)	(187)	(162)	(40)	-	(2,456)
Net operating income	2,359	1,059	243	628	396	(288)	-	4,397
Net cost of net debt								(245)
Non-controlling interests								(64)
Net income - TotalEnergies share								4,088

2nd quarter 2023 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	76	-	-	-	-	-	76
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	76	-	-	-	-	-	76
Operating expenses	(25)	(400)	137	(216)	(76)	(57)	-	(637)
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)	-	-	-	-	-	-	(147)
Operating income (b)	(172)	(324)	137	(216)	(76)	(57)	-	(708)
Net income (loss) from equity affiliates and other items	(106)	16	(346)	(59)	-	2	-	(493)
Tax on net operating income	288	37	2	(101)	23	15	-	264
Net operating income (b)	10	(271)	(207)	(376)	(53)	(40)	-	(937)
Net cost of net debt								72
Non-controlling interests								(3)
Net income - TotalEnergies share								(868)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	(192)	(60)	-
- On net operating income		-	-	(332)	(45)	-

2nd quarter 2023 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	1,434	1,944	6,249	24,849	21,712	7	-	56,195
Intersegment sales	10,108	2,778	670	8,630	201	64	(22,451)	-
Excise taxes	-	-	-	(231)	(4,506)	-	-	(4,737)
Revenues from sales	11,542	4,722	6,919	33,248	17,407	71	(22,451)	51,458
Operating expenses	(5,137)	(3,397)	(6,471)	(31,826)	(16,596)	(219)	22,451	(41,195)
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,970)	(277)	(51)	(394)	(241)	(26)	-	(2,959)
Adjusted operating income	4,435	1,048	397	1,028	570	(174)	-	7,304
Net income (loss) from equity affiliates and other items	91	456	96	62	64	(19)	-	750
Tax on net operating income	(2,177)	(174)	(43)	(86)	(185)	(55)	-	(2,720)
Adjusted net operating income	2,349	1,330	450	1,004	449	(248)	-	5,334
Net cost of net debt								(317)
Non-controlling interests								(61)
Adjusted net income - TotalEnergies share								4,956

2nd quarter 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	2,569	626	807	489	256	30	-	4,777
Total divestments	26	45	149	52	28	4	-	304
Cash flow from operating activities	4,047	1,332	2,284	1,923	665	(351)	-	9,900

48

2nd quarter 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	2,521	3,901	6,380	35,061	26,907	4	-	74,774
Intersegment sales	13,805	3,940	488	12,785	716	70	(31,804)	-
Excise taxes	-	-	-	(186)	(4,143)	-	-	(4,329)
Revenues from sales	16,326	7,841	6,868	47,660	23,480	74	(31,804)	70,445
Operating expenses	(5,760)	(6,144)	(7,392)	(43,242)	(22,310)	(557)	31,804	(53,601)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,112)	(276)	(51)	(389)	(241)	(33)	-	(3,102)
Operating income	8,454	1,421	(575)	4,029	929	(516)	-	13,742
Net income (loss) from equity affiliates and other items	(3,668)	626	197	349	98	71	-	(2,327)
Tax on net operating income	(3,876)	(292)	32	(866)	(296)	(8)	-	(5,306)
Net operating income	910	1,755	(346)	3,512	731	(453)	-	6,109
Net cost of net debt								(305)
Non-controlling interests								(112)
Net income - TotalEnergies share								5,692

2nd quarter 2022 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	(15)	-	-	-	-	-	(15)
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	(15)	-	-	-	-	-	(15)
Operating expenses	(82)	152	(758)	775	373	(301)	-	159
Depreciation, depletion and impairment of tangible assets and mineral interests	(46)	(14)	-	-	(4)	-	-	(64)
Operating income (b)	(128)	123	(758)	775	369	(301)	-	80
Net income (loss) from equity affiliates and other items	(3,756)	(560)	2	52	(4)	-	-	(4,266)
Tax on net operating income	75	(23)	70	(75)	(100)	78	-	25
Net operating income (b)	(3,809)	(460)	(686)	752	265	(223)	-	(4,161)
Net cost of net debt								80
Non-controlling interests								(23)
Net income - TotalEnergies share								(4,104)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	775	376	-	-	-
- On net operating income		-	-	752	275	-	-	-

2nd quarter 2022 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	2,521	3,916	6,380	35,061	26,907	4	-	74,789
Intersegment sales	13,805	3,940	488	12,785	716	70	(31,804)	-
Excise taxes	-	-	-	(186)	(4,143)	-	-	(4,329)
Revenues from sales	16,326	7,856	6,868	47,660	23,480	74	(31,804)	70,460
Operating expenses	(5,678)	(6,296)	(6,634)	(44,017)	(22,683)	(256)	31,804	(53,760)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,066)	(262)	(51)	(389)	(237)	(33)	-	(3,038)
Adjusted operating income	8,582	1,298	183	3,254	560	(215)	-	13,662
Net income (loss) from equity affiliates and other items	88	1,186	195	297	102	71	-	1,939
Tax on net operating income	(3,951)	(269)	(38)	(791)	(196)	(86)	-	(5,331)
Adjusted net operating income	4,719	2,215	340	2,760	466	(230)	-	10,270
Net cost of net debt								(385)
Non-controlling interests								(89)
Adjusted net income - TotalEnergies share								9,796

2nd quarter 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	4,128	285	587	333	288	25	-	5,646
Total divestments	63	393	73	56	72	7	-	664
Cash flow from operating activities	8,768	3,802	168	3,526	580	(560)	-	16,284

49

3.2) Reconciliation of the information by business segment with consolidated financial statements

			Consolidated
1sthalf 2023			statement of
(M$)	Adjusted	Adjustments(a)	income
Sales	118,874	-	118,874
Excise taxes	(9,107)	-	(9,107)
Revenues from sales	109,767	-	109,767
Purchases net of inventory variation	(70,858)	(1,357)	(72,215)
Other operating expenses	(15,506)	(185)	(15,691)
Exploration costs	(156)	2	(154)
Depreciation, depletion and impairment of tangible assets and mineral interests	(5,985)	(183)	(6,168)
Other income	193	264	457
Other expense	(393)	(273)	(666)
Financial interest on debt	(1,434)	-	(1,434)
Financial income and expense from cash & cash equivalents	775	128	903
Cost of net debt	(659)	128	(531)
Other financial income	649	22	671
Other financial expense	(356)	-	(356)
Net income (loss) from equity affiliates	1,741	(514)	1,227
Income taxes	(6,805)	247	(6,558)
Consolidated net income	11,632	(1,849)	9,783
TotalEnergies share	11,497	(1,852)	9,645
Non-controlling interests	135	3	138

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

			Consolidated
1sthalf 2022			statement of
(M$)	Adjusted	Adjustments(a)	income
Sales	143,383	(3)	143,380
Excise taxes	(8,985)	-	(8,985)
Revenues from sales	134,398	(3)	134,395
Purchases net of inventory variation	(86,785)	1,694	(85,091)
Other operating expenses	(15,029)	(635)	(15,664)
Exploration costs	(253)	(725)	(978)
Depreciation, depletion and impairment of tangible assets and mineral interests	(6,186)	(595)	(6,781)
Other income	550	22	572
Other expense	(798)	(2,797)	(3,595)
Financial interest on debt	(1,034)	-	(1,034)
Financial income and expense from cash & cash equivalents	189	270	459
Cost of net debt	(845)	270	(575)
Other financial income	350	84	434
Other financial expense	(271)	-	(271)
Net income (loss) from equity affiliates	3,805	(5,308)	(1,503)
Income taxes	(9,998)	(90)	(10,088)
Consolidated net income	18,938	(8,083)	10,855
TotalEnergies share	18,773	(8,137)	10,636
Non-controlling interests	165	54	219

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

50

			Consolidated
2nd quarter 2023			statement
(M$)	Adjusted	Adjustments(a)	of income
Sales	56,195	76	56,271
Excise taxes	(4,737)	-	(4,737)
Revenues from sales	51,458	76	51,534
Purchases net of inventory variation	(33,379)	(485)	(33,864)
Other operating expenses	(7,754)	(152)	(7,906)
Exploration costs	(62)	-	(62)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,959)	(147)	(3,106)
Other income	116	-	116
Other expense	(256)	(110)	(366)
Financial interest on debt	(724)	-	(724)
Financial income and expense from cash & cash equivalents	402	108	510
Cost of net debt	(322)	108	(214)
Other financial income	401	12	413
Other financial expense	(173)	-	(173)
Net income (loss) from equity affiliates	662	(395)	267
Income taxes	(2,715)	228	(2,487)
Consolidated net income	5,017	(865)	4,152
TotalEnergies share	4,956	(868)	4,088
Non-controlling interests	61	3	64

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

			Consolidated
2nd quarter 2022			statement
(M$)	Adjusted	Adjustments(a)	of income
Sales	74,789	(15)	74,774
Excise taxes	(4,329)	-	(4,329)
Revenues from sales	70,460	(15)	70,445
Purchases net of inventory variation	(46,023)	580	(45,443)
Other operating expenses	(7,620)	(421)	(8,041)
Exploration costs	(117)	-	(117)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,038)	(64)	(3,102)
Other income	429	-	429
Other expense	(529)	(776)	(1,305)
Financial interest on debt	(572)	-	(572)
Financial income and expense from cash & cash equivalents	130	115	245
Cost of net debt	(442)	115	(327)
Other financial income	231	-	231
Other financial expense	(136)	-	(136)
Net income (loss) from equity affiliates	1,944	(3,490)	(1,546)
Income taxes	(5,274)	(10)	(5,284)
Consolidated net income	9,885	(4,081)	5,804
TotalEnergies share	9,796	(4,104)	5,692
Non-controlling interests	89	23	112

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

51

3.3) Adjustment items

The detail of the adjustment items is presented in the table below.

ADJUSTMENTS TO OPERATING INCOME

		Exploration			Refining	Marketing
		&	Integrated	Integrated	&	&
(M$)		Production	LNG	Power	Chemicals	Services	Corporate	Total
2nd quarter 2023	Inventory valuation effect	-	-	-	(192)	(60)	-	(252)
	Effect of changes in fair value	-	(322)	165	-	-	-	(157)
	Restructuring charges	-	-	-	-	-	-	-
	Asset impairment and provisions charges	(155)	-	-	-	-	-	(155)
	Gains (losses) on disposals of assets	–	–	–	–	–	–	–
	Other items	(17)	(2)	(28)	(24)	(16)	(57)	(144)
Total		(172)	(324)	137	(216)	(76)	(57)	(708)
2nd quarter 2022	Inventory valuation effect	-	-	-	775	376	-	1,151
	Effect of changes in fair value	-	141	(738)	-	-	-	(597)
	Restructuring charges	-	-	(17)	-	-	-	(17)
	Asset impairment and provisions charges	(46)	(18)	-	-	4	-	(60)
	Other items	(82)	-	(3)	-	(11)	(301)	(397)
Total		(128)	123	(758)	775	369	(301)	80
1st half 2023	Inventory valuation effect	-	-	-	(607)	(147)	-	(754)
	Effect of changes in fair value	-	(698)	95	-	-	-	(603)
	Restructuring charges	-	-	-	-	-	-	-
	Asset impairment and provisions charges	(155)	-	-	(45)	-	-	(200)
	Gains (losses) on disposals of assets	–	–	–	–	(14)	–	(14)
	Other items	(25)	(2)	(28)	(24)	(16)	(57)	(152)
Total		(180)	(700)	67	(676)	(177)	(57)	(1,723)
1st half 2022	Inventory valuation effect	-	-	-	1,722	684	-	2,406
	Effect of changes in fair value	-	31	(716)	-	-	-	(685)
	Restructuring charges	-	-	(22)	-	-	-	(22)
	Asset impairment and provisions charges	(1,330)	(18)	-	-	(65)	(9)	(1,422)
	Other items	(82)	-	(15)	-	(11)	(433)	(541)
Total		(1,412)	13	(753)	1,722	608	(442)	(264)

52

ADJUSTMENTS TO NET INCOME, TotalEnergies SHARE

		Exploration			Refining	Marketing
		&	Integrated	Integrated	&	&
(M$)		Production	LNG	Power	Chemicals	Services	Corporate	Total
2nd quarter 2023	Inventory valuation effect	-	-	-	(333)	(47)	-	(380)
	Effect of changes in fair value	-	(286)	175	-	-	-	(111)
	Restructuring charges	-	-	(5)	-	-	-	(5)
	Asset impairment and provisions charges	(123)	-	(346)	-	-	-	(469)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	188	15	(31)	(44)	(8)	(23)	97
Total		65	(271)	(207)	(377)	(55)	(23)	(868)
2nd quarter 2022	Inventory valuation effect	-	-	-	738	255	-	993
	Effect of changes in fair value	-	118	(669)	-	-	-	(551)
	Restructuring charges	-	-	(8)	-	-	-	(8)
	Asset impairment and provisions charges	(3,493)	(226)	-	-	-	-	(3,719)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	(286)	(352)	-	-	(8)	(173)	(819)
Total		(3,779)	(460)	(677)	738	247	(173)	(4,104)
1st half 2023	Inventory valuation effect	-	-	-	(658)	(113)	-	(771)
	Effect of changes in fair value	-	(617)	72	-	-	-	(545)
	Restructuring charges	-	-	(5)	-	-	-	(5)
	Asset impairment and provisions charges	(123)	-	(346)	(60)	-	-	(529)
	Gains (losses) on disposals of assets	-	-	-	-	203	-	203
	Other items	103	11	(117)	(122)	(21)	(59)	(205)
Total		(20)	(606)	(396)	(840)	69	(59)	(1,852)
1st half 2022	Inventory valuation effect	-	-	-	1,573	460	-	2,033
	Effect of changes in fair value	-	18	(649)	-	-	-	(631)
	Restructuring charges	-	-	(11)	-	-	-	(11)
	Asset impairment and provisions charges	(4,525)	(4,174)	-	-	(72)	(9)	(8,780)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	(272)	(352)	-	(32)	(8)	(84)	(748)
Total		(4,797)	(4,508)	(660)	1,541	380	(93)	(8,137)

53

4) Shareholders’ equity

Treasury shares (TotalEnergies shares held directly by TotalEnergies SE)

	December 31, 2022	June 30, 2023
Number of treasury shares	137,187,667	68,505,002
Percentage of share capital	5.24%	2.74%
Of which shares acquired with the intention to cancel them	128,869,261	65,043,639
Of which shares allocated to TotalEnergies share performance plans for Company employees	8,231,365	3,362,143
Of which shares intended to be allocated to new share performance or purchase options plans	87,041	99,220

Dividend

The Shareholder’s Meeting of May 26, 2023 approved the distribution of an ordinary dividend at €2.81 per share and confirmed the €1 per share exceptional dividend for the fiscal year 2022, i.e. a total amount of €3.81 per share. The final dividend (ordinary and exceptional) for fiscal year 2022 was paid according to the following timetable:

Ordinary dividend 2022	First interim	Second interim	Third interim	Final
Amount	€0.69	€0.69	€0.69	€0.74
Set date	April 27, 2022	July 27, 2022	October 26, 2022	May 26, 2023
Ex-dividend date	September 21, 2022	January 2, 2023	March 22, 2023	June 21, 2023
Payment date	October 3, 2022	January 12, 2023	April 3, 2023	July 3, 2023

Special interim dividend 2022

Amount per share	€ 1
Ex-dividend date	December 6, 2022
Payment date	December 16, 2022

The Board of Directors, during its April 26, 2023 meeting, set the first interim dividend for the fiscal year 2023 at €0.74 per share. The ex-dividend date of this intermin dividend will be September 20, 2023 and it will be paid in cash on October 2, 2023.

Furthermore, the Board of Directors, during its July 26, 2023 meeting, set the second interim dividend for the fiscal year 2023 at €0.74 per share, i.e an amount equal to the aforementioned first interim dividend. The ex-dividend date of this intermin dividend will be January 2, 2024 and it will be paid in cash on January 12, 2024.

Dividend 2023	First interim	Second interim
Amount	€ 0.74	€ 0.74
Set date	April 26, 2023	July 26, 2023
Ex-dividend date	September 20, 2023	January 2, 2024
Payment date	October 2, 2023	January 12, 2024

Earnings per share in Euro

Earnings per share in Euro, calculated from the earnings per share in U.S. dollars converted at the average Euro/USD exchange rate for the period, amounted to €1.51 per share for the 2^nd quarter 2023 (€2.08 per share for the 1^st quarter 2023 and €2.03 per share for the 2^nd quarter 2022). Diluted earnings per share calculated using the same method amounted to €1.51 per share for the 2^nd quarter 2023 (€2.06 per share for the 1^st quarter 2023 and €2.03 per share for the 2^nd quarter 2022).

Earnings per share are calculated after remuneration of perpetual subordinated notes.

54

Perpetual subordinated notes

TotalEnergies SE has not issued any perpetual subordinated notes during the first six months of 2023.

TotalEnergies SE fully reimbursed the nominal amount of €1,000 million of its perpetual subordinated notes 2.708% issued in October 2016, on their first call date, on May 5th, 2023.

Other comprehensive income

Detail of other comprehensive income is presented in the table below:

(M$)	1st half 2023	1st half 2022
Actuarial gains and losses	138	204
Change in fair value of investments in equity instruments	3	(17)
Tax effect	(51)	(42)
Currency translation adjustment generated by the parent company	1,409	(7,137)
Sub-total items not potentially reclassifiable to profit and loss	1,499	(6,992)
Currency translation adjustment	(1,299)	3,535
- unrealized gain/(loss) of the period	(1,381)	3,532
- less gain/(loss) included in net income	(82)	(3)
Cash flow hedge	1,891	2,959
- unrealized gain/(loss) of the period	1,699	2,901
- less gain/(loss) included in net income	(192)	(58)
Variation of foreign currency basis spread	8	70
- unrealized gain/(loss) of the period	(8)	49
- less gain/(loss) included in net income	(16)	(21)
Share of other comprehensive income of equity affiliates, net amount	(95)	2,464
- unrealized gain/(loss) of the period	(84)	2,427
- less gain/(loss) included in net income	11	(37)
Other	(1)	(1)
Tax effect	(472)	(1,059)
Sub-total items potentially reclassifiable to profit and loss	32	7,968
Total other comprehensive income (net amount)	1,531	976

55

Tax effects relating to each component of other comprehensive income are as follows:

	1st half 2023			1st half 2022
	Pre-tax				Pre-tax
(M$)	amount	Tax effect	Net amount		amount	Tax effect	Net amount
Actuarial gains and losses	138	(50)	88		204	(53)	151
Change in fair value of investments in equity instruments	3	(1)	2		(17)	11	(6)
Currency translation adjustment generated by the parent company	1,409	-	1,409		(7,137)	-	(7,137)
Sub-total items not potentially reclassifiable to profit and loss	1,550	(51)	1,499		(6,950)	(42)	(6,992)
Currency translation adjustment	(1,299)	-	(1,299)		3,535	-	3,535
Cash flow hedge	1,891	(470)	1,421		2,959	(1,041)	1,918
Variation of foreign currency basis spread	8	(2)	6		70	(18)	52
Share of other comprehensive income of equity affiliates, net amount	(95)	-	(95)		2,464	-	2,464
Other	(1)	-	(1)		(1)	-	(1)
Sub-total items potentially reclassifiable to profit and loss	504	(472)	32		9,027	(1,059)	7,968
Total other comprehensive income	2,054	(523)	1,531		2,077	(1,101)	976

5) Financial debt

The Company has not issued any new senior bond during the first six months of 2023.

The Company reimbursed two senior bonds during the first six months of 2023:

- Bond 2.700% issued by TotalEnergies Capital International in 2012 and maturing in January 2023 ($1,000 million);

- Bond 2.125% issued by TotalEnergies Capital International in 2012 (€500 million) and tapped in 2013 (€250 million) forming a single series (€750 million) and maturing in March 2023.

In addition, the $8 billion credit line, put in place in March 2022, has not been extended and therefore ended in March 2023.

6) Related parties

The related parties are mainly equity affiliates and non-consolidated investments.

There were no major changes concerning transactions with related parties during the first six months of 2023.

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7) Other risks and contingent liabilities

TotalEnergies is not currently aware of any exceptional event, dispute, risks or contingent liabilities that could have a material impact on the assets and liabilities, results, financial position or operations of the TotalEnergies, other than those mentioned below.

Yemen

In Yemen, the deterioration of security conditions in the vicinity of the Balhaf site caused the company Yemen LNG, in which TotalEnergies holds a stake of 39.62%, to stop its commercial production and export of LNG and to declare force majeure to its various stakeholders in 2015. The plant has been put in preservation mode.

Mozambique

Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, TotalEnergies has confirmed on April 26, 2021, the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation led TotalEnergies, as operator of Mozambique LNG project, to declare force majeure.

Disputes relating to Climate

In France, the Corporation was summoned in January 2020 before Nanterre’s Court of Justice by certain associations and local communities in order to oblige the Company to complete its Vigilance Plan, by identifying in detail risks relating to a global warming above 1.5°C, as well as indicating the expected amount of future greenhouse gas emissions related to the Company’s activities and its product utilization by third parties and in order to obtain an injunction ordering the Corporation to immediately cease exploration and exploitation of new oil or gas fields, to reduce its oil and gas production by 2030 and 2050, and to reduce its net direct and indirect CO₂ emissions by 40% in 2040 compared with 2019. A new procedural law led to the transfer of these proceedings to the Paris judicial court in February 2022. This action was declared inadmissible on July 6, 2023, by the Paris judicial court. TotalEnergies considers that it has fulfilled its obligations under the French law on the vigilance duty.

Several associations in France brought a civil action against TotalEnergies and TotalEnergies Gaz et Electricité France before the Paris judicial court, with the aim of proving that since May 2021 – after the change of name of TotalEnergies – the Company’s corporate communication and its publicity campaign contain environmental claims that are either false or misleading for the consumer. TotalEnergies considers that these accusations are unfounded.

In France, on July 4, 2023, nine shareholders (two companies and 7 individuals holding a small number of the Corporation's shares) brought an action against the Corporation before the Nanterre Commercial Court, seeking the annulment of resolution no. 3 passed by the Corporation's Annual Shareholders’ Meeting on May 26, 2023, recording the results for fiscal year 2022 and setting the amount of the dividend to be distributed for fiscal year 2022. The plaintiffs essentially allege an insufficient provision for impairment of the Company's assets in the financial statements for the fiscal year 2022, due to the insufficient consideration of future risks and costs related to the consequences of greenhouse gas emissions emitted by its customers (scope 3) and carbon cost assumptions presented as too low. The Corporation considers this action to be unfounded.

In the United States, US subsidiaries of TotalEnergies (TotalEnergies EP USA, Inc. and TotalEnergies Marketing USA, Inc.) were summoned, amongst many companies and professional associations, in a number of "climate litigation" cases, seeking to establish legal liability for past greenhouse gas emissions, and to compensate plaintiff public authorities, in particular for adaptation costs. The Corporation was summoned, along with one of its subsidiaries, in one of these litigations. The Corporation and its subsidiaries consider that the courts lack jurisdiction, and have many arguments to put forward, and consider that the past and present behavior of the Corporation and its subsidiaries does not constitute a fault susceptible to give rise to liability.

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8) Subsequent events

On June 30, 2023, TotalEnergies held an interest of 33.86% in Total Eren Holding and an interest of 5.73% in Total Eren SA.

On June 29, 2023, the Company exercised the option it had to acquire all the shares of these two companies, exercisable over a period of 3 months between April 1, 2023 and June 30, 2023.

The acquisition of the shares was finalized on July 24, 2023 for a net investment of around 1.5 billion euros.

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EX-99.2

Exhibit 99.2

RECENT DEVELOPMENTS

The term “TotalEnergies” or the “Company” in this exhibit is used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate and independent legal entities.

TotalEnergies announces the second interim dividend of €0.74/share for fiscal year 2023, an increase of 7.25%, compared to 2022

On July 27, 2023, TotalEnergies announced that the Board of Directors, meeting on July 26, 2023 under the chairmanship of Mr. Patrick Pouyanné, Chairman and Chief Executive Officer, decided the distribution of the second 2023 interim dividend of 0.74 €/share, an increase of 7.25% compared to the three interim dividends paid for fiscal year 2022 and identical to the final ordinary dividend for fiscal year 2022 and to the first 2023 interim. This increase is in line with the shareholder return policy confirmed by the Board of Directors in February 2023 and reiterated at the Annual General Meeting of May 26, 2023.

This interim dividend will be paid in cash exclusively, according to the following timetable:

	Shareholders	ADS holders
Ex-dividend date	January 2, 2024	December 28, 2023
Payment date	January 12, 2024	January 25, 2024

Electricity: TotalEnergies Fully Acquires Total Eren After a Successful Strategic Alliance of Five Years

On July 25, 2023, TotalEnergies announced that it is pursuing its profitable growth in the renewable energy sector by buying out Total Eren’s other shareholders, increasing its stake from close to 30% to 100%. The Total Eren teams are expected to be fully integrated within TotalEnergies’ Renewables business unit. The deal follows the strategic agreement signed between TotalEnergies and Total Eren in 2017, which granted TotalEnergies the right to acquire all of Total Eren (formerly EREN RE) after a five-year period.

As part of this transaction, Total Eren is valued at an Enterprise Value of €3.8 billion based on an attractive EBITDA multiple negotiated in the initial strategic agreement signed in 2017. The acquisition of 70.8% (on a fully-diluted basis) represents a net investment of around €1.5 billion for TotalEnergies.

Total Eren’s integration should result in an increase in TotalEnergies’ Integrated Power Net Operating Income of around €160 million and CFFO of around €400 million in 2024.

A global player with a 3.5 GW renewables production and a 10 GW pipeline

Total Eren has 3.5 GW of renewable capacity in operation worldwide and a solar, wind, hydroelectric and storage projects pipeline of over 10 GW in 30 countries, of which 1.2 GW are in construction or late-stage development. TotalEnergies plans to leverage Total Eren’s 2 GW assets in operation in merchant countries (notably Portugal, Greece, Australia, and Brazil) to build up its integrated power strategy. TotalEnergies also aims to benefit from Total Eren’s footprint and ability to develop projects in other countries such as India, Argentina, Kazakhstan, or Uzbekistan.

A complementary fit with TotalEnergies’ footprint and workforce

Total Eren will not only contribute high-quality operated assets, but also the expertise and skills of nearly 500 people based in more than 20 countries. Total Eren’s successful organic growth testifies to the expertise that its teams have built up internally and in connection with partners and suppliers since its creation in 2012. The teams and the quality of Total Eren’s portfolio is expected to strengthen TotalEnergies’ ability to deliver production growth while optimizing its operating costs and capex by leveraging its size and purchasing bargaining power.

A pioneer in green hydrogen

Further to its activities as a renewable energy producer, Total Eren has launched pioneering green hydrogen projects in recent years, located in various regions, such as North Africa, Latin America, and

Australia. These green hydrogen activities are expected to be pursued through a new partnership in an entity named “TEH2” (80% owned by TotalEnergies and 20% owned by EREN Group).

Turkey: TotalEnergies partners with Rönesans Holding with the aim of developing renewable energy in the country

On July 24, 2023, TotalEnergies signed an agreement with Rönesans Holding to acquire a 50% stake in Rönesans Enerji and jointly develop, through this joint-venture, renewable projects in Turkey, which is a liberalized growing electricity market. Rönesans Enerji is currently operating a portfolio of approximately 166 MW hydro assets. The company has also secured a pipeline of more than 700 MW of wind, photovoltaic, and battery storage assets. Leveraging TotalEnergies’ knowhow in onshore wind and solar development and in electricity trading and Rönesans’ deep knowledge of the local electricity market, Rönesans Enerji’s ambition is to produce 2 GW of renewable energy by 2028. The production generated by these sites is expected to be marketed primarily with direct sales in the electricity market or power purchase agreements (PPAs) with end-buyers. These projects, which aim to be cost-competitive given the quality of Turkey's renewable potential, are in line with the Company's strategy of becoming an integrated player in the electricity market, taking advantage of price volatility, and are expected to contribute to the achievement of the Integrated Power Business Unit's double-digit profitability targets. The transaction is subject to regulatory and administrative approvals.

TotalEnergies, Aramco and SABIC complete one of the MENA region’s first processing of oil from plastic waste at scale to make certified circular polymers

On July 17, 2023, TotalEnergies, Aramco and SABIC have for the first time in the Middle East and North Africa successfully converted oil derived from plastic waste into ISCC+ certified circular polymers. The plastic pyrolysis oil, also called plastic waste derived oil (PDO), was processed at the SATORP refinery jointly owned by Aramco and TotalEnergies, in Jubail, Saudi Arabia. It was then used as a feedstock by Petrokemya, a SABIC affiliate, to produce certified circular polymers.

The project aims to pave the way for the creation of a domestic value chain for the advanced recycling of plastics to circular polymers in the Kingdom of Saudi Arabia. The process allows for the use of non-sorted plastics, which can be difficult to recycle mechanically, and consequently contributes to solving the challenge of end-of-life plastics.

A first milestone for the project was obtaining ISCC+ certification to assure transparency and traceability of the recycled origin of feedstock and products. Three industrial plants were involved in the process: SATORP refinery, Aramco’s Ju'aymah NGL Fractionation Plant and Petrokemya. All successfully obtained the ISCC+ certification, enabling the production of circular materials.

SABIC and TotalEnergies are founding members of the non-profit organization Alliance to End Plastic Waste (AEPW), which aims to bring collective knowledge, resources and experience to address current waste management challenges.

United States: TotalEnergies and its Partners Make the Final Investment Decision of the RGLNG Project in Texas

On July 13, 2023, TotalEnergies, Global Infrastructure Partners (GIP) NextDecade Corporation, and their partners, GIC and Mubadala, made the final investment decision (FID) to develop phase one of Rio Grande LNG (RGLNG), a natural gas liquefaction (LNG) project in South Texas.

This first phase comprises three liquefaction trains with an estimated total capacity of 17.5 million tons per annum (Mtpa) and CAPEX of $14.8 billion. The engineering, procurement, and construction (EPC) contract has been awarded to Bechtel, and commissioning of the plant is scheduled for 2027. The project is expected to be financed by equity contributions from the partners and by a debt contribution concluded on July 13, 2023 with a consortium of international banks.

As a result of this decision, and according to the terms of the agreement signed in June, 2023, TotalEnergies:

● is expected to acquire a 16.67% stake in the joint-venture in charge of this first phase, and commits to participating in its equity contributions, for a total amount of $1.1 billion.

● is expected to hold a total 17.5% stake in NextDecade for a total amount of $219 million. A first tranche of 5.06% was acquired last June, and a second tranche is expected to be acquired in the next few days to increase this stake to 12.47% and a third tranche of 5.03 % is expected to be acquired before the end of the year.

● TotalEnergies is also expected to offtake 5.4 Mtpa of LNG from the production of this phase for 20 years.

TotalEnergies Wins Two Maritime Leases to Develop two Giga Offshore Wind Farms in Germany

On July 12, 2023, TotalEnergies has been awarded by the Bundesnetzagentur (German Federal Network Agency) two marine concessions, N-12.1 and O-2.2, at the end of the auction held in Germany.

Located in the North Sea, 170 kilometers off the coast, concession N-12.1 covers an area of around 200 square kilometers. Located in the Baltic Sea 40 kilometers from the coast, concession O-2.2 has a surface area of around 100 square kilometers.

Green electricity for over 3 million households

The concessions are forecasted to run for a term of 25 years, extendable to 35 years. With capacities of 2 GW and 1 GW respectively, these two wind farms are expected to provide a volume of electricity equivalent to the consumption of over 3,000,000 homes. Following these awards, TotalEnergies will pay the German Federal government an estimated 582 million euros, which aims to be allocated to the conservation of the marine environment and the promotion of environmentally friendly fishing. An annual contribution is also expected to be paid to the electricity transmission system operators in charge of connecting the projects for 20 years from the date of the commissioning of the sites.

The production generated by these sites are expected to be marketed by TotalEnergies, either by selling it directly on the electricity market, or by entering into Power Purchase Agreements (PPAs) with end-buyers, enabling them to reduce their carbon footprint. These projects, which are deemed to be cost-competitive given the quality of the sites, are in line with the Company's strategy of becoming an integrated player in the electricity markets, taking advantage of price volatility. They are expected to  contribute to the Integrated Power Business Unit’s objective of reaching a two-digit profitability.

Commissioning by 2030

TotalEnergies believes that these major projects are in line with the German government's objective of deploying 30 GW of offshore wind power in Germany by 2030. The next step for TotalEnergies will be to carry out the studies required to obtain the environmental permits, as well as the technical analyses on these sites, which should lead to investment decisions in 2027 and commissioning by 2030.

TotalEnergies Announces Start of Production in the Absheron Gas Field in Azerbaijan

On July 10, 2023, TotalEnergies and its partner SOCAR (State Oil Company of the Republic of Azerbaijan) announce the start of production of the first phase of development of the Absheron gas and condensate field in the Caspian Sea, around 100 km south-east of Baku.

This first phase connects a subsea production well to a new gas processing platform, itself linked to SOCAR’s existing facilities in Oil Rocks. It has an estimated production capacity of 4 million cubic meters of gas per day and 12,000 barrels a day of condensate. The gas is expected to be sold on the domestic market in Azerbaijan.

The development of the Absheron field aims to provide an additional gas supply to meet growing demand, at an expected competitive technical cost and low greenhouse gas emissions intensity, in line with TotalEnergies’ strategy.

TotalEnergies and SOCAR both hold a 50% interest in the project, which is operated by the joint company JOCAP (Joint Operating Company of Absheron Petroleum).

Algeria: TotalEnergies Strengthens its Gas Partnership with Sonatrach and Extends it to Renewables

On July 10, 2023, during a meeting held in Algiers between Patrick Pouyanné, Chairman and CEO of TotalEnergies, and Toufik Hakkar, Chief Executive Officer of Sonatrach, a series of agreements were signed to strengthen the cooperation between the two companies in the production of natural gas in Algeria, the delivery of liquefied natural gas (LNG) to Europe, and the development of renewables in Algeria.

1. Natural gas: increased production at the Tin Fouyé Tabankort fields

Under a first agreement, which remains subject to the approval of the Algerian authorities, Sonatrach and TotalEnergies have agreed to convert the production contracts for the Tin Fouyé Tabankort II (TFTII) and Tin Fouyé Tabankort Sud (TFT sud) fields in southern Algeria (Sonatrach 51%, TotalEnergies 49%) to the framework established by the new Algerian Petroleum Law enacted on December 11, 2019. These are the first conversions of contracts in Algeria under the regime of the new Petroleum Law.

In this context, Sonatrach and TotalEnergies aim to pursue the investment program already launched to increase the gas production of TFTII and TFT South, which includes the upgrade of existing facilities and the drilling of additional wells. The combined production of the two fields is expected to exceed 100,000 boe (barrel of oil equivalent) per day by 2026, versus a level of around 60,000 boe per day in 2022, thus increasing the potential export of Algerian gas to the European market.

2.European energy security: additional LNG deliveries

Under a second agreement, Sonatrach and TotalEnergies have extended for the year 2024 deliveries by Sonatrach of 2 million tons per year of LNG to TotalEnergies at the port of Fos-Cavaou, near Marseille, France. These deliveries of Algerian LNG by sea contribute directly to energy security in France and Europe.

3.Energy transition: developing renewables in Algeria

TotalEnergies and Sonatrach have also signed a third deal to examine the development of projects to produce renewable energy in Algeria, specifically:

● Renewables projects to solarize exploration and production sites for oil and gas, and to power seawater desalination plants;

● A project to produce renewable, low carbon hydrogen for the export market;

● An R&D program in low carbon energies and the energy transition.

INEOS and TotalEnergies Further Integrate their Petrochemical Assets in Eastern France

On July 5, 2023, TotalEnergies and INEOS  signed agreements to realign their respective stakes in their production assets and logistics infrastructure to better reflect the balance between their production and internal use of ethylene in eastern France. For TotalEnergies, this exchange of interests supports the integration between its petrochemical sites at Feyzin, near Lyon, and Carling in eastern France, while INEOS strengthens its operations at the Lavéra site on the Mediterranean coast.

Realigning the two companies’ interests to improve integration

The companies’ sites that produce and use ethylene in eastern France are connected by a pipeline and storage network that begins at Lavéra in south-eastern France and passes through Feyzin to Carling in the north-east.

However, TotalEnergies does not itself use its share of production from the Lavéra steam cracker, which is equally (50/50) owned with INEOS, and sells it mainly to INEOS.

In order to realign the companies’ production and internal use of ethylene, TotalEnergies is therefore expected to sell its stake in the Lavéra assets to INEOS, in addition to part of its interests in the Eastern France ethylene pipeline and storage network, which TotalEnergies aims to continue  operating.

TotalEnergies reaffirms the key role of the Feyzin petrochemical platform

Within TotalEnergies, the Company is thus consolidating the key role of the Feyzin petrochemical platform as the integrated supplier of ethylene to the Carling platform.

The agreement is expected to have no operational impact on TotalEnergies’ refining and petrochemical sites.

The implementation of this project is subject to the prior consultation process of employee representatives and the approval from the relevant authorities.

Energy transition & Renewables: TotalEnergies partners with Petronas in Asia-Pacific

On June 26, 2023, TotalEnergies announces the signature of a Strategic Collaboration Agreement with Gentari Renewables Sdn Bhd, the clean energy solutions company of Petronas, to develop renewable energy projects in the Asia Pacific region. Already collaborating in the upstream sector in eight countries around the world, this agreement further strengthens TotalEnergies’ partnership with Petronas in the energy transition.

This agreement was signed on the sidelines of the Energy Asia Conference in Kuala Lumpur by Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables, and Sushil Purohit, Chief Executive Officer of Gentari, in the presence of Patrick Pouyanné, Chairman and CEO of TotalEnergies and Tan Sri Tengku Muhammad Taufik, Gentari Chairman as well as Petronas President and Group CEO.

Under this agreement, TotalEnergies and Gentari aim to jointly develop the 100MW Pleasant Hills Solar Project in Queensland, Australia, to supply low-carbon electricity to the Roma field’s gas production and processing facilities. TotalEnergies and Gentari’s parent company, Petronas, each hold a 27.5% stake in Gladstone LNG.

TotalEnergies partners with Petronas and Mitsui on a Carbon Storage hub in Malaysia

On June 26, 2023, TotalEnergies announces the signature of an agreement with Petronas and Mitsui to develop a carbon storage project in Southeast Asia. The partners aim to evaluate several CO₂ storage sites in the Malay Basin, including both saline aquifers and depleted offshore fields. This partnership aims to develop a CO₂ merchant storage service to decarbonize industrial customers in Asia.

This agreement was signed by Patrick Pouyanné, Chairman and CEO of TotalEnergies, Tan Sri Tengku Muhammad Taufik, President and Group CEO of Petronas, and Toru Matsui, Senior Executive Managing Officer of Mitsui & Co., on the opening day of the inaugural Energy Asia event in Kuala Lumpur.

In Asia, where countries such as South Korea and Japan have pledged for Net Zero Commitment in 2050, the development of a Carbon Capture and Storage (CCS) value chain for hard-to-abate industrial emissions will require a specific regulatory framework and significant investment. Through this agreement, the partnership aims to study several potential storage sites, determine the best technical means to deliver CO₂ to Malaysia from industrial clusters in the region and develop the most appropriate business framework for commercialization of a carbon storage service in Malaysia.

Aramco and TotalEnergies award contracts for $11 billion Amiral project

On June 24, 2023, Aramco and TotalEnergies awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion "Amiral" complex, a future world scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia. A signing ceremony took place in Dhahran attended by Amin H. Nasser, Aramco President and CEO, and Patrick Pouyanné, TotalEnergies Chairman and CEO.

The award of EPC contracts for main process units and associated utilities marks the start of construction work on this joint project, following the final investment decision in December 2022. Integrated with the SATORP existing refinery in Jubail, the new petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Gulf, with a capacity to produce 1.65 million tons of ethylene and other industrial gases per year.

This expansion is expected to attract more than $4 billion in additional investment in a variety of industrial sectors (carbon fibers, lubes, drilling fluids, detergents, food additives, automotive parts and tires) and create around 7,000 direct and indirect jobs in the country.

The EPC contracts were awarded to:

● Hyundai Engineering & Construction Co., Ltd. – for a mixed feed cracker and utilities, with a nameplate capacity of 1,650 kta of ethylene and related industrial gases, and utilities, flares and interconnecting systems that support main packages within the facilities.

● Maire Tecnimont – for two polyethylene units using Advanced Dual Loop technology, with a nameplate capacity of 500 kta each, and the derivative units.

● Sinopec Engineering Group Saudi Co., Ltd. – for Tank Farm and SATORP integration.

● Gulf Consolidated Contractors Co. – for the transfer pipelines.

● Mohammed Ali Al-Suwailem Trading and Contracting Co. – for industrial support facilities.

● Mofarreh Marzouq Al Harbi and Partners Co. Ltd. – for site preparation.

● Mobarak M. AlSalomi and Partners for Contracting Co. – for temporary construction facilities.

Germany: TotalEnergies and VNG join Forces on Green Hydrogen to Decarbonize the Leuna Refinery

On June 21, 2023, TotalEnergies and VNG, a German natural gas distribution company, have signed an agreement to initiate the expected future supply of green hydrogen to the Leuna refinery operated by TotalEnergies. Under the agreement, TotalEnergies and VNG aim to produce green hydrogen  from renewable electricity with a 30 MW electrolyzer in Bad Lauchstädt, built and operated by VNG with its partner Uniper.

This agreement contributes to the decarbonization of the Leuna refinery and will reduce the site's annual CO₂ emissions by up to 80,000 tons by 2030.

Furthermore, the pipeline connection to the Bad Lauchstädt Energy Park (Energiepark Bad Lauchstädt (EBL) is a consortium to develop a green Hydrogen Hub composed of different subprojects such as renewable power generation (wind 50MWpower), H2 production, transportation H2 and storage H2) is expected to give the Leuna refinery access to the future European hydrogen infrastructure and the international markets for green hydrogen.

Decarbonizing Industry in France: TotalEnergies to Supply Certified Sustainable Biomethane to Saint-Gobain

On June 20, 2023, TotalEnergies has signed a 100 GW biomethane purchase agreement with Saint-Gobain France for a three-year period starting in 2024.

The biomethane is expected to be produced by TotalEnergies at its BioBéarn biomethane plant, which came on stream at the beginning of the year and whose production is certified sustainable by ISCC (International Sustainability & Carbon Certification) under the highest sustainability criteria of the European Union REDII Directive. TotalEnergies is one of the very first producers to obtain this certification in France.

By acquiring the Guarantees of Origin, and thanks to their sustainable certification, Saint-Gobain is expected to be able to attest, within the framework of the EU Emissions Trading Scheme, to the decarbonization of its energy consumption in France. This contract is also an example of a purely commercial sale, i.e., non-subsidized, of biomethane.

Paris Air Show: TotalEnergies Committed to the Production of Sustainable Aviation Fuel to Meet Its Aviation Customers' Needs

On June 19, 2023, TotalEnergies continued actively responding to a call from its aviation customers to increase production of sustainable aviation fuel (SAF). As of 2028, the Company expects to be in a position to produce half a million tons of SAF, enough to cover the gradual increase in the European SAF blending mandate, set at 6% for 2030.

To this end, TotalEnergies is investing and has launched multiple SAF production projects. These include:

● Grandpuits – TotalEnergies is investing €400 million to convert the site into a zero-crude platform, primarily focused on producing SAF from circular feedstock such as animal fat and used cooking oil. Grandpuits aims to produce 210,000 tons/y of SAF as of 2025, and a new investment has been announced to produce an expected further 75,000 tons/y by 2027.

● Normandy – TotalEnergies has started coprocessing SAF from used cooking oil at its Gonfreville refinery. The Company plans to increase annual production at the site to 40,000 tons as of 2025. In addition, following technical work carried out with its aeronautical partners, TotalEnergies aims to produce an additional 150,000 tons/y of SAF by coprocessing HVO biodiesel produced at La Mède as soon as this production method is approved by the ASTM (ASTM International drafts and produces technical standards for materials, products, systems and services).

● La Mède – TotalEnergies has invested €340 million to convert its refinery into a biorefinery. Biodiesel produced at La Mède is already being used to make SAF at the TotalEnergies Oudalle plant near Le Havre. TotalEnergies is studying a new investment to have the capacity to process at La Mède, by 2024, 100% waste from the circular economy (used cooking oil and animal fat) to produce biofuels and SAF by coprocessing.

Beyond France, TotalEnergies aims to produce 1.5 million tons/y of SAF by 2030 at production units in Europe, the United States, Japan and South Korea, representing 10% of the world market by that date.

United States: TotalEnergies Strengthens its Position in LNG by Partnering with GIP and NextDecade on a new LNG project in Texas

On June 14, 2023, TotalEnergies has signed a framework agreement with the US company NextDecade to participate in the development of the Rio Grande LNG (RGLNG) project, a liquefied natural gas (LNG) plant located in South Texas. Under the terms of the agreement, and subject to execution of definitive documentation and final investment decision:

● TotalEnergies shall hold a 16.7% interest in the first phase of the project, which consists of three liquefaction trains with total annual capacity of 17.5 million tons per annum (Mtpa).

● TotalEnergies shall offtake 5.4 Mtpa of LNG from this first phase for twenty years, which brings the Company’s US LNG export capacity to more than 15 Mtpa by 2030.

● TotalEnergies shall acquire a 17.5% interest in NextDecade in three tranches for a global amount of $219 million – the first tranche of 5.06% having already been acquired on June 13, 2023, for $40 million.

● TotalEnergies shall also have a right to participate in further phases of the project and in a carbon capture and storage project (CCS) planned by NextDecade to reduce the emissions generated by the project.

The first phase of RGLNG, whose final investment decision is expected in the coming weeks for start-up in 2027, is expected to be developed, besides TotalEnergies, by NextDecade as shareholder and operator and Global Infrastructure Partners (GIP) as majority shareholder. The project has already received all the necessary authorizations from FERC, the US Federal Energy Regulatory Commission.

Nigeria: TotalEnergies makes oil and gas discovery in offshore OML 102

On June 13, 2023, TotalEnergies announces the Ntokon oil and gas discovery on OML102 offshore Nigeria.

Located in shallow waters, 60 km off the southeast coast of Nigeria, the Ntokon-1AX discovery well encountered 38 meters of net oil pay and 15 meters of net gas pay, while its side-track Ntokon-1G1 encountered 73 meters of net oil pay, in well-developed and excellent quality reservoirs. Ntokon-1G1 tested successfully up to a maximum rate of about 5,000 barrels per day of 40° API oil.

Located 20 km from the Ofon field facilities on OML102, Ntokon is planned to be developed through a tie-back to these existing facilities.

OML 102 is operated by TotalEnergies EP Nigeria with a 40% interest, alongside partner NNPC Ltd with the remaining 60%.

Kazakhstan: TotalEnergies signs a 25-year PPA for a 1 GW Wind Project

On June 9, 2023, TotalEnergies confirms its commitment to the energy transition in Kazakhstan with the signature of a Power Purchase Agreement (PPA) for the Mirny project. This will be one of the first PPAs signed in the country for a wind project of such scale. Located in the Zhambyl region, the project aims to build a 1 GW onshore wind farm combined with a 600 MWh battery energy storage system for a reliable power supply. It represents an investment of about $1.4 billion. After Irak, it is another prime example of TotalEnergies’ ability to leverage its position as a major partner in the upstream sector to speed up the development of renewable energy in oil and gas countries.

The electricity aimed to be produced by the Mirny project is expected to be sold in its entirety to the Financial Settlement Center of Renewable Energy (FSC), a public entity owned by the Government of Kazakhstan, for the supply of the national grid. The project aims to provide electricity to 1 million people.

This agreement has been signed in Astana between Total Eren, an affiliate of TotalEnergies, and the FSC, in the presence of Patrick Pouyanné, Chairman and CEO of TotalEnergies and the Minister of Energy and Mineral Resources of the Republic of Kazakhstan, Almasadam Satkaliyev. TotalEnergies aims to develop the Mirny project in partnership with the National Wealth Fund Samruk-Kazyna and the National Company KazMunayGas, which is each expected to own a 20% stake in the project.

A wind project contributing to Kazakhstan’s renewable push

The Mirny project, which is expected to consist of around 200 turbines, is one of the largest wind energy initiatives ever undertaken in Kazakhstan. Supported, by both the Kazakh and French authorities, the project is expected to be a strong contributor to the Kazakh Government's target of achieving 15% of electricity from renewable sources by 2030. It is anticipated to avoid the emission of approximately 3.5 million tons of CO₂ annually over the duration of the PPA signed on June 9, 2023.

A successful renewable track-record for Total Eren in Kazakhstan

Total Eren has a proven track record of renewable energy developments in Kazakhstan. In particular, Total Eren successfully developed, financed, built, and commissioned in 2019 two solar photovoltaic farms, M-KAT and Nomad, with a combined capacity of 128 MWp. These solar farms, located in the Zhambyl and Kyzylorda regions respectively, have been instrumental in diversifying Kazakhstan's energy mix and reducing carbon emissions.

TotalEnergies Steps up Sustainable Aviation Fuel Production at Grandpuits

On June 7, 2023, ahead of the Paris Air Show held in Le Bourget, TotalEnergies is stepping up production of sustainable aviation fuel (SAF) and low carbon energies of its Grandpuits site. These investments reflect the Company’s ambition to develop low carbon energies and the circular economy, and consist of:

● The doubling of SAF production at Grandpuits, bringing the site’s annual production capacity to 285,000 tons, i.e. more than double the capacity announced in 2020. This new investment responds to the gradual increase in minimum SAF shares mandated by the EU, and set at 6% for 2030.

● The development of low carbon energies at the Grandpuits zero-crude platform, with the construction of a biomethane production unit with annual capacity of 80 gigawatthours (GWh), equivalent to the annual demand of 16,000 people. It is expected to be supplied with organic waste from the biorefinery, and aims to prevent the emission of almost 20,000 tons of CO₂ every year. The unit strengthens TotalEnergies’ position as leader in biogas production in France.

The Company has also noted the decision taken by its partner Corbion not to pursue the bioplastic production project, owing to increased costs. In the light of the new investments announced on June 7, 2023 and others to come, TotalEnergies confirms the maintenance of 250 jobs at the site, in line with the commitments it made in September 2020.

Capital increase reserved for employees of TotalEnergies in 2023

On June 1, 2023, TotalEnergies announces that, in accordance with its policy in favor of employee shareholding, the Board of Directors of TotalEnergies decided, on September 22, 2022, to carry out a capital increase reserved for eligible employees and former employees of TotalEnergies and its French and foreign subsidiaries in which the Company holds directly or indirectly more than 50% (in terms of

capital or voting rights), that are members of the PEG-A Group savings plan, in France and abroad, under the conditions set by the twenty-second resolution at the Shareholders’ Meeting of May 25, 2022.

On April 26, 2023, the Chairman and CEO set (i) the subscription period from April 28 to May 15, 2023 (included) and (ii) the subscription price at 45.60 euros per share, corresponding to the average of the closing prices of the TotalEnergies share on Euronext over the twenty trading sessions preceding the date of this decision, reduced by a 20% discount and rounded off to the highest tenth of a euro.

At the end of this period, 52,602 employees in 94 countries, representing 45.8% of the eligible employees and former employees, subscribed to this capital increase for an amount of 353.9 million euros. These results are on the rise compared to the last two years in terms of participation rate and amount subscribed.

As a result, 8,002,155 new shares will be issued on June 7, 2023. They will carry immediate dividend rights and will be fully assimilated with TotalEnergies shares already listed on Euronext.

Following this issuance, the employee shareholders in TotalEnergies’ share capital, within the meaning of Article L. 225-102 of the French Commercial Code, will represent 7.67% of the Company’s share capital as of June 7, 2023.

Jeanine Wai is appointed Vice President, Investor Relations North America of TotalEnergies

On June 1, 2023, Jeanine Wai is appointed Vice President Investor Relations for North America of TotalEnergies, effective June 1, 2023. She replaces Robert Hammond who elected to retire from the Company.

Jeanine Wai began her career in 2001 with Chevron as a process engineer in Downstream specializing in hydrocracking and base oils. From 2009, she alternatively held corporate, buy-side and sell-side positions, including Oil & Gas financial analysis and M&A at Bechtel, as an Exploration & Production analyst at Nexus Asset Management, and 13 years of Upstream Oil & Gas equity research at JPMorgan, Citi, and most recently as the Senior US Integrated Oil and Exploration & Production analyst at Barclays since 2018.

Jeanine Wai graduated with honors with a B.S. in Chemical Engineering from the University of California, Berkeley and holds an M.B.A. from the MIT Sloan School of Management.

Brazil: TotalEnergies signs Production Sharing Contract for the Agua Marinha offshore block

On May 31, 2023, TotalEnergies and its co-venturers Petrobras, QatarEnergy and PETRONAS Petróleo Brasil Ltda (PPBL) signed the Production Sharing Contract (PSC) for the Agua Marinha block, which was awarded in the Open Acreage under Production Sharing Regime – 1^st Cycle held by Brazil’s National Petroleum Agency (ANP) in December 2022.

Agua Marinha is a 1,300 sq.km exploration block located in the pre-salt Campos Basin south of the Marlim Sul field and about 140 km from shore. The work program includes drilling one firm exploration well during the exploration period.

TotalEnergies is expected to participate in the block with a 30% interest, alongside operator Petrobras (30%), QatarEnergy (20%) and PPBL (20%).

United States: TotalEnergies and TES Join Forces to Develop a Large-Scale e-NG Production Unit

On May 31, 2023, TotalEnergies announces that it is joining forces with Tree Energy Solutions (TES) to study and develop a large-scale production unit in the United States for e-natural gas (e-NG), a synthetic gas produced from renewable hydrogen and CO₂.

The project, which is expected to produce 100,000 to 200,000 metric tons of e-NG per year, is anticipated to be equally owned by the partners and operated by TotalEnergies. This partnership combines TES’ e-NG know-how with TotalEnergies’ expertise in renewable power generation, large-scale project management and natural gas liquefaction.

The e-NG is expected to be produced in two steps:

● to produce renewable hydrogen, a 1 gigawatt (GW) electrolyzer will be powered by approximately 2 GW of wind and solar energy supplied by TotalEnergies through long-term power purchase agreements (PPAs).

● this renewable hydrogen will then be combined with biogenic CO₂ to obtain the e-NG.

The resulting e-NG produced is expected to be transported and/or liquefied, then sold like natural gas, using existing infrastructure, and end customers are anticipated to be able to use it without any adaptation to their facilities.

TotalEnergies and TES aim to carry out the preliminary studies and aim to reach a Final Investment Decision (FID) in 2024. The project is expected to benefit from tax credits under the 2022 Inflation Reduction Act (IRA).

Nigeria: TotalEnergies renews the OML130 deep offshore license

On May 29, 2023, TotalEnergies, operator of OML130 in Nigeria, announces the renewal of the production license on this block for 20 years.

Located 150 kilometers off the Nigerian coast, the OML130 block contains the prolific Akpo and Egina fields which came into production in 2009 and 2018 respectively. In 2022, production amounted to 282,000 boe/d: nearly 30% was gas sent to the Nigeria LNG plant, notably contributing to Europe’s energy security. The production start-up from Akpo West, a short-cycle project, is expected by the end of 2023. In addition, OML130 contains the Preowei discovery, to be developed by tie-back to the Egina FPSO.

TotalEnergies Upstream Nigeria Limited operates OML 130 with a 24% interest, in partnership with CNOOC (45%), Sapetro (15%), Prime 130 (16%) and the Nigerian National Petroleum Company Ltd as the concessionaire of the PSC.

TotalEnergies to sell its 50% stake in Surmont oil sands asset to ConocoPhillips following exercise of its preemption right

On May 26, 2023, in connection with the sale by TotalEnergies to Suncor Energy Inc. of the entirety of the shares of TotalEnergies EP Canada Ltd announced on April 27, 2023, ConocoPhillips notified TotalEnergies that it is exercising its preemption right to purchase the 50% interest in the Surmont asset held by TotalEnergies EP Canada Ltd.

TotalEnergies will receive from ConocoPhillips a cash payment upon closing of C$4.03 billion (about US$3 billion) and additional payments that could reach a maximum of C$440 million (about US$325 million) under specific conditions for its 50% non-operated interest in the Surmont asset and associated logistics commitments. Closing, subject to regulatory approval, is expected in the third quarter 2023.

As previously announced, the transaction with Suncor is subject to the waiver of its partner ConocoPhillips’ pre-emptive right. As ConocoPhillips has exercised its preemption right, TotalEnergies will be open to complete a transaction with Suncor regarding the sale of TEPCA’s shares, comprising the Fort Hills working interest, as per the agreed value in the initial SPA.

Ordinary and extraordinary Annual Shareholders’ Meeting of May 26, 2023: Approval of resolutions approved by the Board of Directors; Very broad shareholder support (89%) for the Climate 2023; and Consultative Resolution presented by the Company

On May 26, 2023, the Combined Shareholder’s Meeting of TotalEnergies was held under the chairmanship of Mr. Patrick Pouyanné. The shareholders adopted all the resolutions approved by the Board of Directors, including:

● Approval of the 2022 financial statements and payment of a global dividend of €3.81 per share (ordinary and special dividend)

● Renewal of the three-year terms as Director of Ms. Marie-Christine Coisne-Roquette and Mr. Mark Cutifani

● Appointment for a three-year term of Mr. Dierk Paskert and Ms. Anelise Lara as Directors

● Approval of the components of the compensation paid during 2022 or allocated for that year and the compensation policy applicable in 2023 to the Chairman and Chief Executive Officer

● Various delegations of competence and financial authorizations granted to the Board of Directors

● Removal of double voting rights supported by almost all shareholders (>99%)

In addition, the Shareholder’s Meeting issued a favorable consultative opinion on the Sustainability & Climate - Progress Report 2023, reporting on the progress made in the implementation of the Company's ambition with respect to sustainable development and energy transition towards carbon neutrality and its related targets by 2030 and complementing this ambition. Shareholders thus voted in favor of the consultative resolution proposed by the Board of Directors by a very large majority, with 89% of the votes cast, confirming the vote expressed by the shareholders in 2022 and the Company's strategy. Conversely, the consultative resolution filed by a group of shareholders concerning indirect scope 3 emissions was rejected by 70% of the votes cast, following the Board's recommendation. The Board of Directors will continue its dialogue with all shareholders concerning the Company's climate strategy.

The full results of the votes as well as the presentations made to shareholders will be available on May 31, 2023, on the totalenergies.com website.

Methane Emissions Reduction:  TotalEnergies and Colorado State University collaborate to establish a protocol of qualification for methane measurement technologies

On May 24, 2023, as part of its commitment to identify, quantify and reduce methane emissions linked to its operations, TotalEnergies announced that it is partnering with Colorado State University to develop an international protocol for the qualification of methane emissions measurements.

As part of the Global Methane Pledge, the US Department of Energy (DOE) and the European Commission’s Directorate-General for Energy (DG-ENER) recognized the excellence and relevance of the Transverse Anomaly Detection Initiatives (TADI) developed by TotalEnergies’ Pôle d’Etudes et de Recherche de Lacq in France and the Methane Emission Technology Evaluation Center (METEC) of Colorado State University in the US, in order to become world references for the qualification of methane emission quantification technologies.

Such a transatlantic initiative is needed because there few agreements currently exist on how to validate methane emissions measurement methods, which is indispensable to compare reported emissions regardless of technology.

TotalEnergies and Colorado State University aim to collaborate using their platforms for this scientific partnership to:

● develop protocols to certify the accuracy, detection limits, and operational restrictions of the measurement methods used for methane accounting; and

● develop a method for estimating annual methane measurements from point measurements.

A clear ambition: Aiming for zero Methane emissions through tangible objectives

The Company already halved its methane emissions at its operated sites between 2010 and 2020 by targeting all sources (reductions in flaring, venting, fugitive emissions, etc.) and introducing stricter design criteria for new facilities.

In line with the Glasgow agreements, the Company is setting new targets for its operated methane emissions for the current decade: reduction from 2020 levels of 50% by 2025 and 80% by 2030. The Company has also undertaken to keep methane intensity below 0.1% across its operated gas facilities.

The Company is also enhancing its reporting as part of OGMP 2.0, the second phase of the United Nations Environment Programme’s Oil & Gas Methane Partnership. OGMP 2.0 outlines a reporting framework that encompasses the entire gas value chain and non-operated scope, including a breakdown of emissions by source, information on inventory methodologies and the use of airborne measurement campaigns. In 2022, TotalEnergies was awarded Gold Standard status. The Company is also a signatory of the Methane Guiding Principles.

Biogas: TotalEnergies acquires a stake in Ductor to jointly develop new projects using its innovative technology

On May 24, 2023, TotalEnergies has acquired a 20% stake in Ductor, a Finland-based start-up that has developed an innovative technology to process high-nitrogen organic waste, such as poultry manure, which is usually difficult to use for biomethane production. By allowing the treatment of new types of input, this technology is expected to help to accelerate the development of the biogas value chain, thus contributing to the energy transition. It is also expected to enable TotalEnergies to seize new market opportunities.

TotalEnergies has also formed a partnership with Ductor to develop and invest in several biomethane production projects, primarily in the United States and Europe. Ductor already has a pipeline of fifteen to twenty projects, some of which are at an advanced stage. The partners are planning to develop an initial facility in Ohio, United States. Under the terms of this joint venture, TotalEnergies aims to market the production of the biomethane, and Ductor the production of the sustainable biofertilizers.

Spain: TotalEnergies Obtains Favorable Environmental Impact Assessment for 3 GW of Solar Projects

● These 48 solar plants are expected to be able to produce more than 6,000 GWh of clean energy per year, enough to meet the annual electricity demand of nearly four million people.

● These facilities aim to avoid the emission of approximately 50 million tons of CO₂ into the atmosphere during their lifetime.

On 22 May 2023, TotalEnergies has obtained from the Spanish authorities (Ministry of Energy Transition and Autonomous Communities) a favorable Environmental Impact Assessment for an estimated 3 GW of installed capacity.

Large-scale solar projects throughout the country

This favorable result relates to the 48 power plants that TotalEnergies aims to develop in the Madrid region (installed capacity of 1.9 GW), in the Murcia region (more than 350 MW), in Castilla-La Mancha (more than 300 MW), in Andalusia (263 MW) and in Aragon (approximately 150 MW). The first projects are expected to come on stream early 2024.

The plants aim to generate about 6,000 GWh of clean energy per year, enough to meet the annual electricity demand of nearly four million people. They are also expected to avoid the emission into the atmosphere of close to 50 million tons of CO₂ during their lifetime.

Socially and environmentally responsible projects

TotalEnergies aims to promote a series of compensatory measures, including bird marking for behavior monitoring, renting 400 additional hectares for conservation efforts, and utilizing 1.5% of plant production for electricity bill discounts for local residents, while providing construction and Operation & Maintenance training to residents in surrounding municipalities.

TotalEnergies is proud to contribute to Spain's goal of obtaining 70% of its electricity from renewable sources by 2030 and 100% by mid-century.

Integrated Power & Renewables: TotalEnergies Launches in Belgium Its Largest Battery Energy Storage Project in Europe

On May 15, 2023, TotalEnergies has launched at its Antwerp refinery (Belgium), a battery farm project for energy storage with an estimated power rating of 25 MW and estimated capacity of 75 MWh, equivalent to the daily consumption of close to 10,000 households.

A First Flagship Energy Storage Project in Belgium

After commissioning four battery parks in France offering total energy storage capacity of 130 MWh, this project aims  to be the Company's largest battery installation in Europe. The batteries, 40 Intensium Max High Energy lithium-ion containers, are expected to be supplied by Saft, the battery subsidiary of

TotalEnergies, confirming its position as one of the European leaders in industrial-scale stationary storage with this project.

The installation, which aims to be operational by the end of 2024, aims to help meet the needs of the European and Belgian high-voltage transmission network 24/7 by:

● Smoothing power fluctuations in the national grid on a daily basis, particularly during peak winter periods.

● Guaranteeing grid security by participating actively in the national grid's reserve services.

● Allowing more renewable electricity to be integrated into the grid.

Essential for the Development of Renewable Energies

TotalEnergies is delighted to develop this storage project, which aims to compensate for the intermittency introduced by renewable energies and thus enable their development. Batteries are an effective response to the growing need for grid balancing. They can be deployed quickly, have a limited footprint and high reactivity. As a result, they can help meet the new challenges facing power grids today.

This project, located on the Antwerp refinery site, is expected to benefit from the available land and the site’s grid connection. It is a new step in TotalEnergies' development of battery energy storage systems (BESS) which strengthens the Company's presence across the entire electricity value chain in Belgium (production, storage, supply).

Suriname: TotalEnergies increases its presence and signs Production Sharing Contracts for shallow offshore Blocks 6 and 8

On May 15, 2023, TotalEnergies and its partners have signed Production Sharing Contracts (PSC) on Blocks 6 & 8 with Staatsolie Maatschappij Suriname (Staatsolie), the State-owned oil company of Suriname.

Blocks 6 and 8 were awarded to TotalEnergies in the Suriname Shallow Offshore Bid Round 2020/2021. TotalEnergies will operate the two blocks with a 40% interest, alongside QatarEnergy (20%) and Paradise Oil Company (POC), a subsidiary of Staatsolie (40%).

Located in the southern part of offshore Suriname, close to the border with Guyana and with depths between 30 meters and 50 meters, the shallow water Blocks 6 & 8 are immediately adjacent to the operated Block 58 where several discoveries have been made and appraisal drilling is ongoing.

Plastic Recycling: TotalEnergies Expands Activities in Europe by Acquiring Iber Resinas

On May 9, 2023, TotalEnergies announces that it has acquired Spain-based Iber Resinas, an actor in the mechanical recycling of plastics for sustainable applications. With this transaction, TotalEnergies aims to increase its production of circular polymers in Europe, extend its range of recycled products, and enhance its access to feedstock through Iber Resinas’s network of suppliers.

Combining Recycling Know-How and Polymers Expertise

Iber Resinas recycles plastics (polypropylene, polyethylene, and polystyrene) derived from household and industrial waste in its two plants near Valencia, Spain. The company also has a large network of direct customers to whom it sells its products for the manufacture of automotive parts, packaging, or building materials.

Iber Resinas aims to leverage synergies with TotalEnergies’ operations to develop quality products and will benefit from the Company’s ability to accelerate its growth.

Developing a Circular Economy for Plastics

By reducing the weight of many end-use applications, plastics improve their energy efficiency and reduce their carbon footprint. Moreover, producing them from recycled materials contributes to meeting the challenge of managing their end-of-life. Committed to promoting the circular economy in the use of plastics, TotalEnergies is working on all types of recycling:

● In mechanical recycling, its subsidiary Synova is the French leader in the production of recycled polypropylene for sustainable applications for the automotive and construction industry, with a capacity of 45,000 tons at the end of 2022. In 2022, the Company also announced the construction of a new hybrid production line of approximately 15,000-ton high-performance recycled polypropylene for automotive applications at its Carling – Saint-Avold platform in northeastern France.

● In advanced recycling, TotalEnergies announced in September 2020 the construction of one of France's first advanced recycling plants at its Grandpuits zero-crude platform southeast of Paris, in partnership with Plastic Energy. In 2022, TotalEnergies signed additional offtake agreements with Plastic Energy and Honeywell for pyrolysis oil to pursue its development in advanced recycling in Europe and the U.S.

● In bioplastics, TotalEnergies is also a world leader through its joint venture with Corbion, which operates a plant in Thailand producing an estimated 75,000 tons per year of polylactic acid (PLA), a 100% bio-based, recyclable, and biodegradable bioplastic.

Furthermore, TotalEnergies is a founding member of the Alliance to End Plastic Waste, which brings together around ninety companies, project partners, and supporters committed to implementing solutions to eliminate plastic waste in the environment, particularly in the oceans.

Ordinary and Extraordinary Shareholders’ Meeting on May 26, 2023 Conditions of availability of the preparatory documents

On May 5, 2023, Shareholders are invited to participate at the Ordinary and Extraordinary Shareholders’ Meeting of TotalEnergies which will be held on Friday May 26, 2023, at 10:00 a.m. at the salle Pleyel, 252 rue du Faubourg Saint-Honoré, 75008 Paris.

The Shareholders’ Meeting will be streamed live in full on the website www.totalenergies.com/investors/shareholders-meetings. All useful information relating to this Meeting is regularly updated on this page of the website.

Shareholders may exercise their voting rights before the holding of the Shareholders’ Meeting, either by internet via the secured Votaccess platform, or by returning their postal voting form, or also by giving proxy. The detailed procedures relating to the exercise of the right to vote are specified in the notice of the Shareholders’ Meeting.

The preliminary notice of the Shareholders’ Meeting and the convening notice were published in the French Bulletin des annonces légales obligatoires (BALO) on March 24, 2023 and on May 5, 2023 respectively.

The documents referred to in Article R. 225-83 of the French Commercial Code are made available to Shareholders as from the date of the convening notice for the Meeting in accordance with applicable regulations:

● Shareholders holding registered shares may, up to and including the fifth day prior to the Meeting, request that the Company sends these documents to them free of charge. For shareholders holding bearer shares, the exercise of this right is subject to the provision of a certificate of registration in the accounts of the bearer shares issued by the authorized intermediary;

● Shareholders may consult these documents at the Company’s registered office, 2 place Jean Millier – La Défense 6 – 92400 Courbevoie, under the conditions provided for by applicable regulations.

The documents referred to in Article R. 22-10-23 of the French Commercial Code may be consulted and downloaded on the Company’s website: totalenergies.com/Investors/Annual Shareholders’ meeting/The documents of the Meeting.

Angola: A New Milestone Towards the Development of Blocks 20 and 21

On May 2, 2023, Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), TotalEnergies EP Angola and Sonangol Pesquisa e Produção S.A. signed a heads of agreement related to the future development of the Cameia and Golfinho fields, located on Blocks 20 and 21 in the Kwanza basin.

This heads of agreement is an important milestone towards a final investment decision expected in 2023, after partners and authorities’ approval.

This future development project on Blocks 20 and 21, located around 150 km southwest of Luanda, is expected to comprise an FPSO, the seventh for TotalEnergies in Angola, connected to a subsea network. The design of this new project includes electrical generation from a combined cycle turbine and a zero flaring concept, allowing a lower carbon intensity.

TotalEnergies EP Angola Blocks 20-21 (Operator) holds an 80% interest in each block, while Sonangol Pesquisa e Produção S.A holds the remaining 20%.

Annual Shareholders’ Meeting of May 26, 2023 & Climate: TotalEnergies adds to the agenda the advisory resolution submitted by a group of shareholders representing less than 1.4% of the capital and recommends that shareholders reject it

On April 28, 2023, TotalEnergies announced that the Board of Directors, meeting on April 26, 2023 under the chairmanship of Patrick Pouyanné, Chairman and Chief Executive Officer, reviewed the documents related to the Ordinary and Extraordinary Meeting of Shareholders of TotalEnergies and particularly the request from a group of shareholders representing less than 1.4% of the Company's capital to add an advisory resolution to the agenda of the Annual Shareholders' Meeting. The draft resolution calls on the Company to set targets "aligned with the Paris Climate Agreement" for Scope 3 indirect emissions related to the use of energy products sold to its customers.

The proposed resolution does not provide a credible response to the challenges of climate change and would be contrary to the interests of the Company, its shareholders and its customers.

The indirect emissions reported by TotalEnergies under Scope 3 correspond to the direct (Scope 1) emissions of the consumers of these products: the Company's customers, who decide to use the products.

For example, emissions from jet fuel sold by the Company are first recorded in the Scope 1 emissions of the airline that uses the fuel. They are also recorded in the Scope 3 indirect emissions of the aircraft's engine manufacturer, the plane manufacturer, the airport and TotalEnergies. Scope 3 emissions are not cumulative, but overlapping. An absolute reduction target for Scope 3 for a company like TotalEnergies, without reducing the corresponding Scope 1 of energy users, is in reality not relevant in reducing global GHG emissions.

By focusing on indirect emissions of greenhouse gases related to the use of energy products that TotalEnergies sells to its customers (Scope 3), the adoption of this resolution would lead to holding the Company liable for these emissions, whereas the use of these products is the decision of its customers. TotalEnergies does not make airplanes, cars, cement or steel, but rather supplies energy products that are used or converted by other industries to make products and goods. The company therefore cannot be held responsible for the reduction of emissions related to the use of products by its customers.

Obviously, TotalEnergies acts to contribute to the transformation of energy demand and thus to help its customers reduce their Scope 1. Through its multi-energy strategy, TotalEnergies is adapting its offer to provide a wider range of energy products, including decarbonized products, for example by developing sustainable aviation fuels, and supports its customers in their decarbonization plans. But it is the concerted actions of all the players in the energy value chain that can bring a shift in the way energy is used: through public policies aimed at orienting energy consumption, sectoral initiatives of energy-consuming companies, technical and technological developments.

Drastically decreasing TotalEnergies' global Scope 3 emissions in absolute value, without an evolution of the overall structure of energy demand, would lead to a shift of this demand to other suppliers, notably the national oil companies of producing countries. This strategy would have little effect on lowering global greenhouse gas emissions, and therefore little positive impact on climate. The implementation of this strategy would be disadvantageous to shareholders as the Company would have to sell its oil and gas product marketing activities to other operators. The strategy would also be counter-productive for TotalEnergies' customers, for whom the Company must ensure a security of energy supply, while supporting them in their own decarbonization journey.

TotalEnergies has a consistent and effective strategy to be a major player in the energy transition

TotalEnergies' Board of Directors notes that it fully exercises its powers in defining the Company's priorities for the energy transition. For the third year in a row, the Board is consulting shareholders with regard to TotalEnergies' ambition for sustainability and the energy transition. The Sustainability & Climate - 2023 Progress Report, which will be submitted to an advisory vote at the next Annual Shareholders' Meeting, describes the implementation of the Company's strategy and the progress made in 2022 towards achieving its climate objectives for 2030. The report also enhances the Company's climate and sustainability ambition, notably by specifying – as pledged by the Company – the 2025 and 2030 targets for the main climate indicators and making a number of these targets more ambitious:

● Concerning its Scope 1 & 2 emissions over which it has control at its operated facilities, the Company has set a new emissions target in absolute value of below 38 Mt CO₂e (Scopes 1 & 2) by 2025 compared to 2015, thanks notably to a $1 billion worldwide energy efficiency program for 2023-2024. The Company has also pledged to reduce these emissions by more than 40% by 2030 compared to 2015, in line with the objectives set by countries committed to carbon neutrality by 2050. As a reminder, the Company has already reduced the Scope 1+2 emissions of its Oil & Gas activities by almost 30% between 2015 and 2022.

● TotalEnergies has strengthened its objective of lowering the lifecycle carbon intensity of the energy mix sold to its customers from -20% to -25% by 2030 in relation to 2015, and -15% by 2025, thereby contributing to the reduction of its customers' Scope 1 emissions while selling them the energy they need and ensuring security of energy supply. As a reminder, TotalEnergies has already reduced the carbon intensity of its sales by 12% between 2015 and 2022, thanks to the growth in its sales of electricity and gas and the drop in sales of oil products.

TotalEnergies is thus leading its peers in terms of decarbonizing its energies sales.

The proposed resolution undermines the Company’s good governance

This consultative resolution does not facially infringe on the Board of Directors' powers. However, if adopted, it would introduce some confusion in the governance of the Company since it would lead the Board of Directors to take into account a different strategy from the one it has adopted. Nevertheless, the Board of Directors has decided to add this draft resolution to the agenda of the next Annual Shareholders' Meeting, in the interest of shareholder dialogue, but not to approve it for all of the reasons set out above.

Consequently, the shareholders of TotalEnergies will be invited to vote against the resolution submitted by the above-mentioned group of shareholders and to vote in favor of the resolution relating to the Sustainability & Climate - 2023 Progress Report submitted by the Company.

The documents prepared by the Company for the upcoming Annual Shareholders' Meeting will be available on the Company's website. The notice of meeting for the Ordinary and Extraordinary Meeting of Shareholders of May 26, 2023 which will be held at 10:00 a.m. on Friday, May 26, 2023 at Salle Pleyel, 252 rue du Faubourg Saint-Honoré, 75008 Paris, France, will be published in the BALO legal gazette (Bulletin des Annonces Légales Obligatoires) on May 5, 2023.

TotalEnergies, number 2 in employee share ownership in Europe, launches its annual capital increase reserved for employees

On April 27, 2023, the Board of Directors of TotalEnergies, meeting on April 26, 2023 under the chairmanship of Patrick Pouyanné, Chairman and Chief Executive Officer, confirmed the launch of the capital increased reserved for employees and former employees of the Company for 2023.

On this occasion, the Board welcomed the recent publication of the European Federation of Employee Share Ownership, which shows that TotalEnergies ranks second among European companies for employee share ownership, in terms of the amount of capital held by employees.

The development of employee share ownership is at the heart of TotalEnergies' value share policy as it represents the best way to closely associate employees with its economic performance, strengthen their sense of belonging and align the interests of employees and shareholders. The decision taken in 2015 by the Board of Directors to conduct every year a capital increase reserved for employees with a discount, as opposed to every two years previously, demonstrates this, as does the continuous increase

in the scope of the performance share grant, which now concerns more than 11,000 employees each year worldwide.

As of March 31, 2023, more than 65% of the employees were shareholders and held together 7.4% of the Company's share capital, amounting to 10 billion euros, making them TotalEnergies’ largest group of shareholders. They received as such about 700 million euros in dividends in 2022.

FORWARD-LOOKING STATEMENTS

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 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 “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 the Group 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.

Except for its ongoing obligations to disclose material information as required by applicable securities laws, TotalEnergies does not have any intention or obligation to update forward-looking statements after the distribution of this document, even if new information, future events or other circumstances have made them incorrect or misleading.

For additional factors, you should read the information set forth under “Item 3. -3.1 Risk Factors”, “Item 4. Information on the Company”, “Item 5. Operating and Financial Review and Prospects” and “Item 11. Quantitative and Qualitative Disclosures about Market Risk” in TotalEnergies’ Form 20-F for the year ended December 31, 2022.

EX-99.3

Exhibit 99.3

CAPITALIZATION AND INDEBTEDNESS OF TOTALENERGIES

(unaudited)

The following table sets out the unaudited consolidated capitalization and long-term indebtedness, as well as short-term indebtedness, of TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE (collectively, “TotalEnergies”) as of June 30, 2023, prepared on the basis of IFRS. Currency amounts are expressed in U.S. dollars (“dollars” or “$”) or in euros (“euros” or “€”).

	At June 30,
	2023
	(in millions of dollars)
Current financial debt, including current portion of non-current financial debt
Current portion of non-current financial debt	7,323
Current financial debt	8,219
Current portion of financial instruments for interest rate swaps liabilities	298
Other current financial instruments — liabilities	145
Financial liabilities directly associated with assets held for sale	1,046
Total current financial debt	17,031
Non-current financial debt	40,427
Non-controlling interests	2,770
Shareholders’ equity
Common shares	7,850
Paid-in surplus and retained earnings	123,511
Currency translation adjustment	(12,859)
Treasury shares	(4,820)
Total shareholders’ equity — TotalEnergies share	113,682
Total capitalization and non-current indebtedness	156,879

As of June 30, 2023, TotalEnergies SE had an authorized share capital of 3,541,983,801 ordinary shares with a par value of €2.50 per share, and an issued share capital of 2,498,264,179 ordinary shares, of which 68,505,002 were treasury shares. For more information on the delegations of authority and powers granted to the Board of Directors with respect to share capital increases and authorization for share cancellation, see Exhibit 15.1 (section 4.4.2, chapter 4)  to the Annual Report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission on March 24, 2023.

As of June 30, 2023, approximately $7,553 million of TotalEnergies’ non-current financial debt was secured and $32,874 million was unsecured, and all of TotalEnergies’ current financial debt of $17,031 million was unsecured. As of June 30, 2023, TotalEnergies had no outstanding guarantees from third parties relating to its consolidated indebtedness.

For more information about TotalEnergies’ off-balance sheet commitments and contingencies, see Note 13.1 of the Notes to TotalEnergies’ audited Consolidated Financial Statements in its Annual Report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission on March 24, 2023.

Except as disclosed herein, there have been no material changes in the consolidated capitalization, indebtedness and contingent liabilities of TotalEnergies since June 30, 2023.

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Document and Entity Information	6 Months Ended
	Jun. 30, 2023
Document and Entity Information
Entity Registrant Name	TotalEnergies SE
Entity Central Index Key	0000879764
Document Type	6-K
Document Period End Date	Jun. 30, 2023
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

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CONSOLIDATED STATEMENT OF INCOME $ in Millions	3 Months Ended						6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2023 € / shares	Mar. 31, 2023 USD ($) $ / shares	Mar. 31, 2023 € / shares	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2022 € / shares	Jun. 30, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($) $ / shares
CONSOLIDATED STATEMENT OF INCOME
Sales	$ 56,271		$ 62,603		$ 74,774		$ 118,874		$ 143,380
Excise taxes	(4,737)		(4,370)		(4,329)		(9,107)		(8,985)
Revenues from sales	51,534		58,233		70,445		109,767		134,395
Purchases, net of inventory variation	(33,864)		(38,351)		(45,443)		(72,215)		(85,091)
Other operating expenses	(7,906)		(7,785)		(8,041)		(15,691)		(15,664)
Exploration costs	(62)		(92)		(117)		(154)		(978)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,106)		(3,062)		(3,102)		(6,168)		(6,781)
Other income	116		341		429		457		572
Other expense	(366)		(300)		(1,305)		(666)		(3,595)
Financial interest on debt	(724)		(710)		(572)		(1,434)		(1,034)
Financial income and expense from cash & cash equivalents	510		393		245		903		459
Cost of net debt	(214)		(317)		(327)		(531)		(575)
Other financial income	413		258		231		671		434
Other financial expense	(173)		(183)		(136)		(356)		(271)
Net income (loss) from equity affiliates	267		960		(1,546)		1,227		(1,503)
Income taxes	(2,487)		(4,071)		(5,284)		(6,558)		(10,088)
Consolidated net income	4,152		5,631		5,804		9,783	$ 10,189	10,855
TotalEnergies share	4,088		5,557		5,692		9,645		10,636
Non-controlling interests	$ 64		$ 74		$ 112		$ 138		$ 219
Earnings per share (in dollars or Euros per share) | (per share)	$ 1.65	€ 1.51	$ 2.23	€ 2.08	$ 2.18	€ 2.03	$ 3.88		$ 4.04
Fully-diluted earnings per share (in dollars or Euros per share) | (per share)	$ 1.64	€ 1.51	$ 2.21	€ 2.06	$ 2.16	€ 2.03	$ 3.86		$ 4.02

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Consolidated net income	$ 4,152	$ 5,631	$ 5,804	$ 9,783	$ 10,855
Other comprehensive income
Actuarial gains and losses	135	3	204	138	204
Change in fair value of investments in equity instruments	(1)	4	(20)	3	(17)
Tax effect	(43)	(8)	(53)	(51)	(42)
Currency translation adjustment generated by the parent company	(57)	1,466	(5,387)	1,409	(7,137)
Items not potentially reclassifiable to profit and loss	34	1,465	(5,256)	1,499	(6,992)
Currency translation adjustment	(49)	(1,250)	2,523	(1,299)	3,535
Cash flow hedge	689	1,202	3,222	1,891	2,959
Variation of foreign currency basis spread	11	(3)	21	8	70
share of other comprehensive income of equity affiliates, net amount	3	(98)	2,548	(95)	2,464
Other	(4)	3	(1)	(1)	(1)
Tax effect	(136)	(336)	(1,112)	(472)	(1,059)
Items potentially reclassifiable to profit and loss	514	(482)	7,201	32	7,968
Total other comprehensive income (net amount)	548	983	1,945	1,531	976
Comprehensive income	4,700	6,614	7,749	11,314	11,831
TotalEnergies share	4,676	6,550	7,705	11,226	11,658
Non-controlling interests	$ 24	$ 64	$ 44	$ 88	$ 173

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CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022
Non-current assets
Intangible assets, net	$ 31,717	$ 33,234	$ 31,931	$ 37,020
Property, plant and equipment, net	104,174	107,499	107,101	101,454
Equity affiliates : investments and loans	30,425	29,997	27,889	28,210
Other investments	1,190	1,209	1,051	1,383
Non-current financial assets	2,494	2,357	2,731	1,612
Deferred income taxes	3,649	4,772	5,049	4,737
Other non-current assets	2,573	2,709	2,388	3,075
Total non-current assets	176,222	181,777	178,140	177,491
Current assets
Inventories, net	18,785	22,786	22,936	28,542
Accounts receivable, net	22,163	24,128	24,378	30,796
Other current assets	23,111	28,153	36,070	55,553
Current financial assets	6,725	7,535	8,746	7,863
Cash and cash equivalents	25,572	27,985	33,026	32,848
Assets classified as held for sale	8,441	668	568	313
Total current assets	104,797	111,255	125,724	155,915
Total assets	281,019	293,032	303,864	333,406
Shareholders' equity
Common shares	7,850	7,828	8,163	8,163
Paid-in surplus and retained earnings	123,511	123,357	123,951	125,554
Currency translation adjustment	(12,859)	(12,784)	(12,836)	(14,019)
Treasury shares	(4,820)	(2,820)	(7,554)	(3,010)
Total shareholders' equity - TotalEnergies share	113,682	115,581	111,724	116,688
Non-controlling interests	2,770	2,863	2,846	3,309
Total shareholders' equity	116,452	118,444	114,570	119,997
Non-current liabilities
Deferred income taxes	11,237	11,300	11,021	12,169
Employee benefits	1,872	1,840	1,829	2,341
Provisions and other non-current liabilities	21,295	21,270	21,402	23,373
Non-current financial debt	40,427	42,915	45,264	46,868
Total non-current liabilities	74,831	77,325	79,516	84,751
Current liabilities
Accounts payable	32,853	36,037	41,346	49,700
Other creditors and accrued liabilities	38,609	42,578	52,275	62,498
Current borrowings	15,542	17,884	15,502	16,003
Other current financial liabilities	443	597	488	401
Liabilities directly associated with the assets classified as held for sale	2,289	167	167	56
Total current liabilities	89,736	97,263	109,778	128,658
Total liabilities & shareholders' equity	$ 281,019	$ 293,032	$ 303,864	$ 333,406

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CONSOLIDATED STATEMENT OF CASH FLOW - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income	$ 4,152	$ 5,631	$ 5,804	$ 9,783	$ 10,855
Depreciation, depletion, amortization and impairment	3,195	3,187	3,321	6,382	7,899
Non-current liabilities, valuation allowances and deferred taxes	81	314	1,427	395	3,965
(Gains) losses on disposals of assets	(70)	(252)	(165)	(322)	(178)
Undistributed affiliates' equity earnings	383	(349)	2,999	34	3,261
(Increase) decrease in working capital	2,125	(3,419)	2,498	(1,294)	(2,425)
Other changes, net	34	21	400	55	524
Cash flow from operating activities	9,900	5,133	16,284	15,033	23,901
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions	(3,870)	(4,968)	(5,150)	(8,838)	(8,607)
Acquisitions of subsidiaries, net of cash acquired	(19)	(136)	(82)	(155)	(82)
Investments in equity affiliates and other securities	(522)	(1,407)	(136)	(1,929)	(225)
Increase in non-current loans	(366)	(389)	(278)	(755)	(519)
Total expenditures	(4,777)	(6,900)	(5,646)	(11,677)	(9,433)
Proceeds from disposals of intangible assets and property, plant and equipment	31	68	153	99	330
Proceeds from disposals of subsidiaries, net of cash sold	38	183	63	221	151
Proceeds from disposals of non-current investments	133	49	35	182	250
Repayment of non-current loans	102	238	413	340	1,342
Total divestments	304	538	664	842	2,073
Cash flow used in investing activities	(4,473)	(6,362)	(4,982)	(10,835)	(7,360)
CASH FLOW USED IN FINANCING ACTIVITIES
Issuance (repayment) of shares: Parent company shareholders	383		371	383	371
Issuance (repayment) of shares: Treasury shares	(2,002)	(2,103)	(1,988)	(4,105)	(3,164)
Dividends paid: Parent company shareholders	(1,842)	(1,844)	(1,825)	(3,686)	(3,753)
Dividends paid: Non-controlling interests	(105)	(21)	(97)	(126)	(119)
Net issuance (repayment) of perpetual subordinated notes	(1,081)		(1,958)	(1,081)
Payments on perpetual subordinated notes	(80)	(158)	(138)	(238)	(274)
Other transactions with non-controlling interests	(13)	(86)	(10)	(99)	(5)
Net issuance (repayment) of non-current debt	(14)	118	508	104	542
Increase (decrease) in current borrowings	(4,111)	(1,274)	(2,703)	(5,385)	(2,046)
Increase (decrease) in current financial assets and liabilities	990	1,394	(731)	2,384	4,863
Cash flow from (used in) financing activities	(7,875)	(3,974)	(8,571)	(11,849)	(3,585)
Net increase (decrease) in cash and cash equivalents	(2,448)	(5,203)	2,731	(7,651)	12,956
Effect of exchange rates	35	162	(1,159)	197	(1,450)
Cash and cash equivalents at the beginning of the period	27,985	33,026	31,276	33,026	21,342
Cash and cash equivalents at the end of the period	$ 25,572	$ 27,985	$ 32,848	$ 25,572	$ 32,848

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CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions		Shareholders' equity - TotalEnergies share	Common shares issued	Paid-in surplus and retained earnings	Currency translation adjustment	Treasury shares	Non-controlling interests	Total
Equity as of the beginning of the period at Dec. 31, 2021		$ 111,736	$ 8,224	$ 117,849	$ (12,671)	$ (1,666)	$ 3,263	$ 114,999
Common shares issued as of the beginning of the period at Dec. 31, 2021			2,640,429,329			(33,841,104)
Net income		10,636		10,636			219	10,855
Other comprehensive income		1,022		2,370	(1,348)		(46)	976
Comprehensive income		11,658		13,006	(1,348)		173	11,831
Dividend		(3,803)		(3,803)			(119)	(3,922)
Issuance of common shares		371	$ 26	345				371
Issuance of common shares (in shares)			9,367,482
Purchase of treasury shares		(3,164)				$ (3,164)		(3,164)
Purchase of treasury shares (in shares)						(58,458,536)
Sale of treasury shares	[1]			(315)		$ 315
Sale of treasury shares (in shares)	[1]					6,168,197
Share-based payments		157		157				157
Share cancellation			$ (87)	(1,418)		$ 1,505
Share cancellation (in shares)			(30,665,526)			30,665,526
Net issuance (repayment) of perpetual subordinated notes		(44)		(44)				(44)
Payments on perpetual subordinated notes		(183)		(183)				(183)
Other operations with non-controlling interests		4		4			(9)	(5)
Other items		(44)		(44)			1	(43)
Equity as of the end of the period at Jun. 30, 2022		116,688	$ 8,163	125,554	(14,019)	$ (3,010)	3,309	119,997
Common shares issued as of the end of the period at Jun. 30, 2022			2,619,131,285			(55,465,917)
Net income		9,890		9,890			299	10,189
Other comprehensive income		(4,129)		(5,303)	1,174		44	(4,085)
Comprehensive income		5,761		4,587	1,174		343	6,104
Dividend		(6,186)		(6,186)			(417)	(6,603)
Issuance of common shares		(1)		(1)				(1)
Purchase of treasury shares		(4,547)				$ (4,547)		(4,547)
Purchase of treasury shares (in shares)						(81,749,207)
Sale of treasury shares	[1]			(3)		$ 3
Sale of treasury shares (in shares)	[1]					27,457
Share-based payments		72		72				72
Payments on perpetual subordinated notes		(148)		(148)				(148)
Other operations with non-controlling interests		50		41	9		46	96
Other items		35		35			(435)	(400)
Equity as of the end of the period at Dec. 31, 2022		111,724	$ 8,163	123,951	(12,836)	$ (7,554)	2,846	114,570
Common shares issued as of the end of the period at Dec. 31, 2022			2,619,131,285			(137,187,667)
Net income								5,631
Other comprehensive income								983
Comprehensive income								6,614
Equity as of the end of the period at Mar. 31, 2023								118,444
Equity as of the beginning of the period at Dec. 31, 2022		111,724	$ 8,163	123,951	(12,836)	$ (7,554)	2,846	114,570
Common shares issued as of the beginning of the period at Dec. 31, 2022			2,619,131,285			(137,187,667)
Net income		9,645		9,645			138	9,783
Other comprehensive income		1,581		1,576	5		(50)	1,531
Comprehensive income		11,226		11,221	5		88	11,314
Dividend		(3,868)		(3,868)			(126)	(3,994)
Issuance of common shares		383	$ 22	361				383
Issuance of common shares (in shares)			8,002,155
Purchase of treasury shares		(4,705)				$ (4,705)		(4,705)
Purchase of treasury shares (in shares)						(66,647,852)
Sale of treasury shares	[1]			(396)		$ 396
Sale of treasury shares (in shares)	[1]					6,461,256
Share-based payments		172		172				172
Share cancellation			$ (335)	(6,708)		$ 7,043
Share cancellation (in shares)			(128,869,261)			128,869,261
Net issuance (repayment) of perpetual subordinated notes		(1,107)		(1,107)				(1,107)
Payments on perpetual subordinated notes		(151)		(151)				(151)
Other operations with non-controlling interests		11		39	(28)		(38)	(27)
Other items		(3)		(3)				(3)
Equity as of the end of the period at Jun. 30, 2023		113,682	$ 7,850	123,511	(12,859)	$ (4,820)	2,770	116,452
Common shares issued as of the end of the period at Jun. 30, 2023			2,498,264,179			(68,505,002)
Equity as of the beginning of the period at Mar. 31, 2023								118,444
Net income								4,152
Other comprehensive income								548
Comprehensive income								4,700
Equity as of the end of the period at Jun. 30, 2023		$ 113,682	$ 7,850	$ 123,511	$ (12,859)	$ (4,820)	$ 2,770	$ 116,452
Common shares issued as of the end of the period at Jun. 30, 2023			2,498,264,179			(68,505,002)

[1] Treasury shares related to the performance share grants.

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Basis of preparation of the consolidated financial statements

6 Months Ended

Jun. 30, 2023

Basis of preparation of the consolidated financial statements

Basis of preparation of the consolidated financial statements

1) Basis of preparation of the consolidated financial statements

The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and IFRS as published by the International Accounting Standards Board (IASB).

The interim consolidated financial statements of TotalEnergies SE and its subsidiaries (the Company) as of June 30, 2023, are presented in U.S. dollars and have been prepared in accordance with International Accounting Standard (IAS) 34 “Interim Financial Reporting”.

The accounting principles applied for the consolidated financial statements at June 30, 2023, are consistent with those used for the financial statements at December 31, 2022.

The preparation of financial statements in accordance with IFRS for the closing as of June 30, 2023 requires the General Management to make estimates, assumptions and judgments that affect the information reported in the Consolidated Financial Statements and the Notes thereto.

These estimates, assumptions and judgments are based on historical experience and other factors believed to be reasonable at the date of preparation of the financial statements. They are reviewed on an on-going basis by General Management and therefore could be revised as circumstances change or as a result of new information.

The main estimates, judgments and assumptions relate to the estimation of hydrocarbon reserves in application of the successful efforts method for the oil and gas activities, asset impairments, employee benefits, asset retirement obligations and income taxes. These estimates and assumptions are described in the Notes to the Consolidated Financial Statements as of December 31, 2022.

The consolidated financial statements as of December 31, 2022 were impacted by the Russian-Ukrainian conflict. The Russian assets were fully depreciated, except for those relating to Yamal LNG. As of June 30, 2023, in the absence of any new event, assessments and judgments taken into account in the valuation of assets remain in place.

Different estimates, assumptions and judgments could significantly affect the information reported, and actual results may differ from the amounts included in the Consolidated Financial Statements and the Notes thereto.

Furthermore, when the accounting treatment of a specific transaction is not addressed by any accounting standard or interpretation, the General Management of the Company applies its judgment to define and apply accounting policies that provide information consistent with the general IFRS concepts: faithful representation, relevance and materiality.

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Changes in the Company structure

6 Months Ended

Jun. 30, 2023

Changes in the Company structure

Changes in the Company structure

2) Changes in the Company structure

2.1) Main acquisitions and divestments

Ø Exploration & Production

● In March 2023, TotalEnergies has signed an agreement with CEPSA to acquire CEPSA’s upstream assets in the United Arab Emirates with an effective date of January 1, 2023. The assets to be acquired are:

o a 20% participating interest in the Satah Al Razboot (SARB), Umm Lulu, Bin Nasher and Al Bateel (SARB and Umm Lulu) offshore concession.

The SARB and Umm Lulu concession includes two major offshore fields. ADNOC holds a 60% interest in this concession, alongside OMV (20%). The concession is operated by ADNOC Offshore.

o a 12.88% indirect interest in the Mubarraz concession held by Abu Dhabi Oil Company Ltd (ADOC), through the acquisition of 20% of Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd (CEPAD), a company holding a 64.4% interest in ADOC.

The Mubarraz concession is comprised of four producing offshore fields.

The SARB and Umm Lulu transaction was completed on March 15, 2023. The Mubarraz transaction was not completed following Cosmo’s decision to exercise its right of first refusal on the proposed transaction on April 21, 2023 in accordance with the terms of the agreements.

Ø Integrated LNG

● On June 12, 2022, following the request for proposals in relation to partner selection for the North Field East (NFE) liquified natural gas project, TotalEnergies has been awarded, a 25% interest in a new joint venture (JV), alongside the national company QatarEnergy (75)%. The new JV will hold a 25% interest in the 32 million tons per annum (Mtpa) NFE project, equivalent to one 8 Mtpa LNG train. The acquisition of the interest in this project was finalized in January 2023.

Ø Integrated Power

● On October 26, 2022, TotalEnergies and Casa dos Ventos (CDV), Brazil's leading renewable energy developer, announced the creation of a 34%(TTE)/66%(CDV) joint venture to jointly develop, build and operate the renewable portfolio of Casa Dos Ventos. This portfolio includes 700 MW of onshore wind capacity in operation, 1 GW of onshore wind under construction, 2.8 GW of onshore wind and 1.6 GW of solar projects under well advanced development (COD¹ within 5 years). Besides, the newly formed JV will have the right to acquire the current and new projects that are or will be developed by CDV as they reach execution stage. The transaction amounts to a payment of $0.5 billion and an earn-out of up to $30 million for the acquisition of a 34% stake in the JV. In addition, TotalEnergies will have the option to acquire an additional 15% equity share in 2027. The transaction was completed in January 2023.

2.2) Major business combinations

Ø Exploration & Production

● Acquisition of participating interest in SARB and Umm Lulu offshore concession

In accordance with IFRS 3 “Business combinations”, TotalEnergies is assessing the fair value of identifiable acquired assets, liabilities and contingent liabilities on the basis of available information. A preliminary purchase price allocation has been done in the second quarter following the acquisition, this assessment will be finalized within 12 months following the acquisition date.

2.3) Divestment projects

Ø Exploration & Production

On April 27, 2023, TotalEnergies announced the signature of an agreement with Suncor Energy Inc. for the sale of the entirety of the shares of TotalEnergies EP Canada Ltd for a consideration including a 5.5 billion Canadian dollar cash payment at closing (about US$4.1 billion) and additional payments that could reach a maximum of 600 million Canadian dollar (about US$450 million) under specific conditions. The transaction was subject to the waiver of TotalEnergies EP Canada Ltd’s partners pre-emption rights and customary closing conditions, notably the required approval from public authorities.

¹ Commercial Operation Date

On May 26, 2023 ConocoPhillips has notified TotalEnergies that it is exercising its preemption right to purchase the 50% interest in the Surmont asset held by TotalEnergies EP Canada Ltd. TotalEnergies will receive from ConocoPhillips a cash payment upon closing of 4.0 billion Canadian dollar (about US$3 billion) and additional payments that could reach a maximum of 440 million Canadian dollar (about US$325 million) under specific conditions for its 50% non-operated interest in the Surmont asset and associated logistics commitments. Closing is expected in the second half year of 2023.

Following the exercise by ConocoPhillips of its preemption right, TotalEnergies and Suncor are continuing discussions regarding the sale of TotalEnergies EP Canada Ltd shares, including the Fort Hills working interest and the associated logistics.

As of June 30, 2023, the assets and liabilities have been respectively classified in the consolidated balance sheet as “assets classified as held for sale” for an amount of $5,435 million and “liabilities classified as held for sale” for an amount of $893 million. These assets mainly include tangible assets.

Ø Marketing & Services

On March 16, 2023, TotalEnergies and Alimentation Couche-Tard have signed agreements covering TotalEnergies' retail networks in four European countries. As part of this agreement, TotalEnergies will join forces with Couche-Tard in Belgium and Luxembourg and transfer its networks in Germany and the Netherlands.

This planned transaction, which is based on an enterprise value of 3.1 billion euros, is subject to the usual conditions for completion, including the consultation processes of employee representatives and securing of the mandatory authorizations from competition authorities.

As of June 30, 2023, the assets and liabilities have been respectively classified in the consolidated balance sheet as “assets classified as held for sale” for an amount of $1,901 million and “liabilities classified as held for sale” for an amount of $1,227 million. These assets mainly include tangible assets.

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Business segment information

6 Months Ended

Jun. 30, 2023

Business segment information

Business segment information

3) Business segment information

Description of the business segments

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 and which is reviewed by the main operational decision-making body of the Company, namely the Executive Committee.

The operational profit and assets are broken down by business segment prior to the consolidation and inter-segment adjustments.

Sales prices between business segments approximate market prices.

The profitable growth in the LNG and power integrated value chains are two of the key axes of TotalEnergies’s strategy.

In order to give more visibility to these businesses, the Board of Directors has decided that from the first quarter 2023, Integrated LNG and Integrated Power results, previously grouped in the Integrated Gas, Renewables & Power (iGRP) segment, would be reported separately as two segments.

A new reporting structure for the business segments’ financial information has been put in place, effective January 1, 2023. It is based on the following five business segments:

- An Exploration-Production segment;

- An Integrated LNG segment covering LNG production and trading activities as well as biogas, hydrogen and gas trading activities;

- An Integrated Power segment covering generation, storage, electricity trading and B2B-B2C distribution of gas and electricity;

- A Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining, petrochemicals and specialty chemicals. This segment also includes the activities of oil Supply, Trading and marine Shipping;

- A Marketing & Services segment including the global activities of supply and marketing in the field of petroleum products;

In addition the Corporate segment includes holdings operating and financial activities.

This new segment reporting has been prepared in accordance with IFRS 8 and according to the same principles as the internal reporting followed by the TotalEnergies's Executive Committee.

For the Integrated LNG and Integrated Power segments, the principles for the preparation of this segment information are as follows:

- The management of balance sheet positions (including margin calls) related to to centralized markets access for LNG, gas and power activities since 2022 has been fully included in the Integrated LNG segment.

- Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of Integrated LNG segment.

- Effects of changes in the fair value of power positions are allocated to the operating income of Integrated Power segment.

Due to the change in the Company's internal organizational structure affecting the composition of the business segments, the segment reporting data for the years 2021 and 2022 has been restated.

Adjustment items

Performance indicators excluding the adjustment items, such as adjusted operating income, adjusted net operating income, and adjusted net income are meant to facilitate the analysis of the financial performance and the comparison of income between periods.

Adjustment items include:

(i) Special items

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 assets 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.

(ii) The 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 its 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 prices differential 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 methods.

(iii) Effect of changes in fair value

The effect of changes in fair value presented as adjustment items reflects for certain transactions differences between the internal measure of performance used by TotalEnergies’s 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 the Company’s internal economic performance. IFRS precludes recognition of this fair value effect.

Furthermore, TotalEnergies 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 and the effect of changes in fair value.

3.1) Information by business segment

1sthalf 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	3,388	6,892	14,804	49,704	44,071	15	-	118,874
Intersegment sales	20,836	8,777	2,355	17,691	321	121	(50,101)	-
Excise taxes	-	-	-	(415)	(8,692)	-	-	(9,107)
Revenues from sales	24,224	15,669	17,159	66,980	35,700	136	(50,101)	109,767
Operating expenses	(9,924)	(13,242)	(16,165)	(63,934)	(34,459)	(437)	50,101	(88,060)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,183)	(565)	(98)	(808)	(465)	(49)	-	(6,168)
Operating income	10,117	1,862	896	2,238	776	(350)	-	15,539
Net income (loss) from equity affiliates and other items	53	1,276	(320)	55	307	(38)	-	1,333
Tax on net operating income	(5,287)	(342)	(152)	(512)	(281)	23	-	(6,551)
Net operating income	4,883	2,796	424	1,781	802	(365)	-	10,321
Net cost of net debt								(538)
Non-controlling interests								(138)
Net income - TotalEnergies share								9,645

1sthalf 2023 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	-	-	-	-	-	-	-
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	-	-	-	-	-	-	-
Operating expenses	(33)	(700)	67	(640)	(177)	(57)	-	(1,540)
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)	-	-	(36)	-	-	-	(183)
Operating income (b)	(180)	(700)	67	(676)	(177)	(57)	-	(1,723)
Net income (loss) from equity affiliates and other items	(179)	12	(457)	(96)	217	2	-	(501)
Tax on net operating income	240	82	(6)	(69)	33	15	-	295
Net operating income (b)	(119)	(606)	(396)	(841)	73	(40)	-	(1,929)
Net cost of net debt								80
Non-controlling interests								(3)
Net income - TotalEnergies share								(1,852)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	(607)	(147)	-	-	-
- On net operating income		-	-	(659)	(109)	-	-	-

1sthalf 2023 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	3,388	6,892	14,804	49,704	44,071	15	-	118,874
Intersegment sales	20,836	8,777	2,355	17,691	321	121	(50,101)	-
Excise taxes	-	-	-	(415)	(8,692)	-	-	(9,107)
Revenues from sales	24,224	15,669	17,159	66,980	35,700	136	(50,101)	109,767
Operating expenses	(9,891)	(12,542)	(16,232)	(63,294)	(34,282)	(380)	50,101	(86,520)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,036)	(565)	(98)	(772)	(465)	(49)	-	(5,985)
Adjusted operating income	10,297	2,562	829	2,914	953	(293)	-	17,262
Net income (loss) from equity affiliates and other items	232	1,264	137	151	90	(40)	-	1,834
Tax on net operating income	(5,527)	(424)	(146)	(443)	(314)	8	-	(6,846)
Adjusted net operating income	5,002	3,402	820	2,622	729	(325)	-	12,250
Net cost of net debt								(618)
Non-controlling interests								(135)
Adjusted net income - TotalEnergies share								11,497

1sthalf 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	6,621	1,821	2,041	714	415	65	-	11,677
Total divestments	57	94	298	60	329	4	-	842
Cash flow from operating activities	8,583	4,868	999	1,072	(8)	(481)	-	15,033

1sthalf 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	4,672	9,408	13,167	66,069	50,056	8	-	143,380
Intersegment sales	27,623	7,438	1,009	22,062	983	133	(59,248)	-
Excise taxes	-	-	-	(378)	(8,607)	-	-	(8,985)
Revenues from sales	32,295	16,846	14,176	87,753	42,432	141	(59,248)	134,395
Operating expenses	(11,468)	(13,030)	(14,686)	(80,653)	(40,294)	(850)	59,248	(101,733)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,773)	(554)	(94)	(769)	(514)	(77)	-	(6,781)
Operating income	16,054	3,262	(604)	6,331	1,624	(786)	-	25,881
Net income (loss) from equity affiliates and other items	(3,426)	(1,869)	192	505	56	179	-	(4,363)
Tax on net operating income	(7,739)	(553)	(1)	(1,391)	(521)	97	-	(10,108)
Net operating income	4,889	840	(413)	5,445	1,159	(510)	-	11,410
Net cost of net debt								(555)
Non-controlling interests								(219)
Net income - TotalEnergies share								10,636

1sthalf 2022 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	(18)	15	-	-	-	-	(3)
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	(18)	15	-	-	-	-	(3)
Operating expenses	(873)	45	(768)	1,722	641	(433)	-	334
Depreciation, depletion and impairment of tangible assets and mineral interests	(539)	(14)	-	-	(33)	(9)	-	(595)
Operating income (b)	(1,412)	13	(753)	1,722	608	(442)	-	(264)
Net income (loss) from equity affiliates and other items	(3,770)	(4,508)	11	169	(7)	106	-	(7,999)
Tax on net operating income	337	(13)	71	(326)	(180)	98	-	(13)
Net operating income (b)	(4,845)	(4,508)	(671)	1,565	421	(238)	-	(8,276)
Net cost of net debt								193
Non-controlling interests								(54)
Net income - TotalEnergies share								(8,137)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	1,722	684	-
- On net operating income		-	-	1,597	503	-

1sthalf 2022 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	4,672	9,426	13,152	66,069	50,056	8	-	143,383
Intersegment sales	27,623	7,438	1,009	22,062	983	133	(59,248)	-
Excise taxes	-	-	-	(378)	(8,607)	-	-	(8,985)
Revenues from sales	32,295	16,864	14,161	87,753	42,432	141	(59,248)	134,398
Operating expenses	(10,595)	(13,075)	(13,918)	(82,375)	(40,935)	(417)	59,248	(102,067)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,234)	(540)	(94)	(769)	(481)	(68)	-	(6,186)
Adjusted operating income	17,466	3,249	149	4,609	1,016	(344)	-	26,145
Net income (loss) from equity affiliates and other items	344	2,639	181	336	63	73	-	3,636
Tax on net operating income	(8,076)	(540)	(72)	(1,065)	(341)	(1)	-	(10,095)
Adjusted net operating income	9,734	5,348	258	3,880	738	(272)	-	19,686
Net cost of net debt								(748)
Non-controlling interests								(165)
Adjusted net income - TotalEnergies share								18,773

1sthalf 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	6,099	575	1,736	561	428	34	-	9,433
Total divestments	346	1,237	244	83	151	12	-	2,073
Cash flow from operating activities	14,536	6,021	(1,736)	4,633	1,478	(1,031)	-	23,901

2nd quarter 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	1,434	2,020	6,249	24,849	21,712	7	-	56,271
Intersegment sales	10,108	2,778	670	8,630	201	64	(22,451)	-
Excise taxes	-	-	-	(231)	(4,506)	-	-	(4,737)
Revenues from sales	11,542	4,798	6,919	33,248	17,407	71	(22,451)	51,534
Operating expenses	(5,162)	(3,797)	(6,334)	(32,042)	(16,672)	(276)	22,451	(41,832)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,117)	(277)	(51)	(394)	(241)	(26)	-	(3,106)
Operating income	4,263	724	534	812	494	(231)	-	6,596
Net income (loss) from equity affiliates and other items	(15)	472	(250)	3	64	(17)	-	257
Tax on net operating income	(1,889)	(137)	(41)	(187)	(162)	(40)	-	(2,456)
Net operating income	2,359	1,059	243	628	396	(288)	-	4,397
Net cost of net debt								(245)
Non-controlling interests								(64)
Net income - TotalEnergies share								4,088

2nd quarter 2023 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	76	-	-	-	-	-	76
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	76	-	-	-	-	-	76
Operating expenses	(25)	(400)	137	(216)	(76)	(57)	-	(637)
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)	-	-	-	-	-	-	(147)
Operating income (b)	(172)	(324)	137	(216)	(76)	(57)	-	(708)
Net income (loss) from equity affiliates and other items	(106)	16	(346)	(59)	-	2	-	(493)
Tax on net operating income	288	37	2	(101)	23	15	-	264
Net operating income (b)	10	(271)	(207)	(376)	(53)	(40)	-	(937)
Net cost of net debt								72
Non-controlling interests								(3)
Net income - TotalEnergies share								(868)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	(192)	(60)	-
- On net operating income		-	-	(332)	(45)	-

2nd quarter 2023 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	1,434	1,944	6,249	24,849	21,712	7	-	56,195
Intersegment sales	10,108	2,778	670	8,630	201	64	(22,451)	-
Excise taxes	-	-	-	(231)	(4,506)	-	-	(4,737)
Revenues from sales	11,542	4,722	6,919	33,248	17,407	71	(22,451)	51,458
Operating expenses	(5,137)	(3,397)	(6,471)	(31,826)	(16,596)	(219)	22,451	(41,195)
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,970)	(277)	(51)	(394)	(241)	(26)	-	(2,959)
Adjusted operating income	4,435	1,048	397	1,028	570	(174)	-	7,304
Net income (loss) from equity affiliates and other items	91	456	96	62	64	(19)	-	750
Tax on net operating income	(2,177)	(174)	(43)	(86)	(185)	(55)	-	(2,720)
Adjusted net operating income	2,349	1,330	450	1,004	449	(248)	-	5,334
Net cost of net debt								(317)
Non-controlling interests								(61)
Adjusted net income - TotalEnergies share								4,956

2nd quarter 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	2,569	626	807	489	256	30	-	4,777
Total divestments	26	45	149	52	28	4	-	304
Cash flow from operating activities	4,047	1,332	2,284	1,923	665	(351)	-	9,900

2nd quarter 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	2,521	3,901	6,380	35,061	26,907	4	-	74,774
Intersegment sales	13,805	3,940	488	12,785	716	70	(31,804)	-
Excise taxes	-	-	-	(186)	(4,143)	-	-	(4,329)
Revenues from sales	16,326	7,841	6,868	47,660	23,480	74	(31,804)	70,445
Operating expenses	(5,760)	(6,144)	(7,392)	(43,242)	(22,310)	(557)	31,804	(53,601)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,112)	(276)	(51)	(389)	(241)	(33)	-	(3,102)
Operating income	8,454	1,421	(575)	4,029	929	(516)	-	13,742
Net income (loss) from equity affiliates and other items	(3,668)	626	197	349	98	71	-	(2,327)
Tax on net operating income	(3,876)	(292)	32	(866)	(296)	(8)	-	(5,306)
Net operating income	910	1,755	(346)	3,512	731	(453)	-	6,109
Net cost of net debt								(305)
Non-controlling interests								(112)
Net income - TotalEnergies share								5,692

2nd quarter 2022 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	(15)	-	-	-	-	-	(15)
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	(15)	-	-	-	-	-	(15)
Operating expenses	(82)	152	(758)	775	373	(301)	-	159
Depreciation, depletion and impairment of tangible assets and mineral interests	(46)	(14)	-	-	(4)	-	-	(64)
Operating income (b)	(128)	123	(758)	775	369	(301)	-	80
Net income (loss) from equity affiliates and other items	(3,756)	(560)	2	52	(4)	-	-	(4,266)
Tax on net operating income	75	(23)	70	(75)	(100)	78	-	25
Net operating income (b)	(3,809)	(460)	(686)	752	265	(223)	-	(4,161)
Net cost of net debt								80
Non-controlling interests								(23)
Net income - TotalEnergies share								(4,104)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	775	376	-	-	-
- On net operating income		-	-	752	275	-	-	-

2nd quarter 2022 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	2,521	3,916	6,380	35,061	26,907	4	-	74,789
Intersegment sales	13,805	3,940	488	12,785	716	70	(31,804)	-
Excise taxes	-	-	-	(186)	(4,143)	-	-	(4,329)
Revenues from sales	16,326	7,856	6,868	47,660	23,480	74	(31,804)	70,460
Operating expenses	(5,678)	(6,296)	(6,634)	(44,017)	(22,683)	(256)	31,804	(53,760)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,066)	(262)	(51)	(389)	(237)	(33)	-	(3,038)
Adjusted operating income	8,582	1,298	183	3,254	560	(215)	-	13,662
Net income (loss) from equity affiliates and other items	88	1,186	195	297	102	71	-	1,939
Tax on net operating income	(3,951)	(269)	(38)	(791)	(196)	(86)	-	(5,331)
Adjusted net operating income	4,719	2,215	340	2,760	466	(230)	-	10,270
Net cost of net debt								(385)
Non-controlling interests								(89)
Adjusted net income - TotalEnergies share								9,796

2nd quarter 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	4,128	285	587	333	288	25	-	5,646
Total divestments	63	393	73	56	72	7	-	664
Cash flow from operating activities	8,768	3,802	168	3,526	580	(560)	-	16,284

3.2) Reconciliation of the information by business segment with consolidated financial statements

			Consolidated
1sthalf 2023			statement of
(M$)	Adjusted	Adjustments(a)	income
Sales	118,874	-	118,874
Excise taxes	(9,107)	-	(9,107)
Revenues from sales	109,767	-	109,767
Purchases net of inventory variation	(70,858)	(1,357)	(72,215)
Other operating expenses	(15,506)	(185)	(15,691)
Exploration costs	(156)	2	(154)
Depreciation, depletion and impairment of tangible assets and mineral interests	(5,985)	(183)	(6,168)
Other income	193	264	457
Other expense	(393)	(273)	(666)
Financial interest on debt	(1,434)	-	(1,434)
Financial income and expense from cash & cash equivalents	775	128	903
Cost of net debt	(659)	128	(531)
Other financial income	649	22	671
Other financial expense	(356)	-	(356)
Net income (loss) from equity affiliates	1,741	(514)	1,227
Income taxes	(6,805)	247	(6,558)
Consolidated net income	11,632	(1,849)	9,783
TotalEnergies share	11,497	(1,852)	9,645
Non-controlling interests	135	3	138

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

			Consolidated
1sthalf 2022			statement of
(M$)	Adjusted	Adjustments(a)	income
Sales	143,383	(3)	143,380
Excise taxes	(8,985)	-	(8,985)
Revenues from sales	134,398	(3)	134,395
Purchases net of inventory variation	(86,785)	1,694	(85,091)
Other operating expenses	(15,029)	(635)	(15,664)
Exploration costs	(253)	(725)	(978)
Depreciation, depletion and impairment of tangible assets and mineral interests	(6,186)	(595)	(6,781)
Other income	550	22	572
Other expense	(798)	(2,797)	(3,595)
Financial interest on debt	(1,034)	-	(1,034)
Financial income and expense from cash & cash equivalents	189	270	459
Cost of net debt	(845)	270	(575)
Other financial income	350	84	434
Other financial expense	(271)	-	(271)
Net income (loss) from equity affiliates	3,805	(5,308)	(1,503)
Income taxes	(9,998)	(90)	(10,088)
Consolidated net income	18,938	(8,083)	10,855
TotalEnergies share	18,773	(8,137)	10,636
Non-controlling interests	165	54	219

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

			Consolidated
2nd quarter 2023			statement
(M$)	Adjusted	Adjustments(a)	of income
Sales	56,195	76	56,271
Excise taxes	(4,737)	-	(4,737)
Revenues from sales	51,458	76	51,534
Purchases net of inventory variation	(33,379)	(485)	(33,864)
Other operating expenses	(7,754)	(152)	(7,906)
Exploration costs	(62)	-	(62)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,959)	(147)	(3,106)
Other income	116	-	116
Other expense	(256)	(110)	(366)
Financial interest on debt	(724)	-	(724)
Financial income and expense from cash & cash equivalents	402	108	510
Cost of net debt	(322)	108	(214)
Other financial income	401	12	413
Other financial expense	(173)	-	(173)
Net income (loss) from equity affiliates	662	(395)	267
Income taxes	(2,715)	228	(2,487)
Consolidated net income	5,017	(865)	4,152
TotalEnergies share	4,956	(868)	4,088
Non-controlling interests	61	3	64

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

			Consolidated
2nd quarter 2022			statement
(M$)	Adjusted	Adjustments(a)	of income
Sales	74,789	(15)	74,774
Excise taxes	(4,329)	-	(4,329)
Revenues from sales	70,460	(15)	70,445
Purchases net of inventory variation	(46,023)	580	(45,443)
Other operating expenses	(7,620)	(421)	(8,041)
Exploration costs	(117)	-	(117)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,038)	(64)	(3,102)
Other income	429	-	429
Other expense	(529)	(776)	(1,305)
Financial interest on debt	(572)	-	(572)
Financial income and expense from cash & cash equivalents	130	115	245
Cost of net debt	(442)	115	(327)
Other financial income	231	-	231
Other financial expense	(136)	-	(136)
Net income (loss) from equity affiliates	1,944	(3,490)	(1,546)
Income taxes	(5,274)	(10)	(5,284)
Consolidated net income	9,885	(4,081)	5,804
TotalEnergies share	9,796	(4,104)	5,692
Non-controlling interests	89	23	112

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

3.3) Adjustment items

The detail of the adjustment items is presented in the table below.

ADJUSTMENTS TO OPERATING INCOME

		Exploration			Refining	Marketing
		&	Integrated	Integrated	&	&
(M$)		Production	LNG	Power	Chemicals	Services	Corporate	Total
2nd quarter 2023	Inventory valuation effect	-	-	-	(192)	(60)	-	(252)
	Effect of changes in fair value	-	(322)	165	-	-	-	(157)
	Restructuring charges	-	-	-	-	-	-	-
	Asset impairment and provisions charges	(155)	-	-	-	-	-	(155)
	Gains (losses) on disposals of assets	–	–	–	–	–	–	–
	Other items	(17)	(2)	(28)	(24)	(16)	(57)	(144)
Total		(172)	(324)	137	(216)	(76)	(57)	(708)
2nd quarter 2022	Inventory valuation effect	-	-	-	775	376	-	1,151
	Effect of changes in fair value	-	141	(738)	-	-	-	(597)
	Restructuring charges	-	-	(17)	-	-	-	(17)
	Asset impairment and provisions charges	(46)	(18)	-	-	4	-	(60)
	Other items	(82)	-	(3)	-	(11)	(301)	(397)
Total		(128)	123	(758)	775	369	(301)	80
1st half 2023	Inventory valuation effect	-	-	-	(607)	(147)	-	(754)
	Effect of changes in fair value	-	(698)	95	-	-	-	(603)
	Restructuring charges	-	-	-	-	-	-	-
	Asset impairment and provisions charges	(155)	-	-	(45)	-	-	(200)
	Gains (losses) on disposals of assets	–	–	–	–	(14)	–	(14)
	Other items	(25)	(2)	(28)	(24)	(16)	(57)	(152)
Total		(180)	(700)	67	(676)	(177)	(57)	(1,723)
1st half 2022	Inventory valuation effect	-	-	-	1,722	684	-	2,406
	Effect of changes in fair value	-	31	(716)	-	-	-	(685)
	Restructuring charges	-	-	(22)	-	-	-	(22)
	Asset impairment and provisions charges	(1,330)	(18)	-	-	(65)	(9)	(1,422)
	Other items	(82)	-	(15)	-	(11)	(433)	(541)
Total		(1,412)	13	(753)	1,722	608	(442)	(264)

ADJUSTMENTS TO NET INCOME, TotalEnergies SHARE

		Exploration			Refining	Marketing
		&	Integrated	Integrated	&	&
(M$)		Production	LNG	Power	Chemicals	Services	Corporate	Total
2nd quarter 2023	Inventory valuation effect	-	-	-	(333)	(47)	-	(380)
	Effect of changes in fair value	-	(286)	175	-	-	-	(111)
	Restructuring charges	-	-	(5)	-	-	-	(5)
	Asset impairment and provisions charges	(123)	-	(346)	-	-	-	(469)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	188	15	(31)	(44)	(8)	(23)	97
Total		65	(271)	(207)	(377)	(55)	(23)	(868)
2nd quarter 2022	Inventory valuation effect	-	-	-	738	255	-	993
	Effect of changes in fair value	-	118	(669)	-	-	-	(551)
	Restructuring charges	-	-	(8)	-	-	-	(8)
	Asset impairment and provisions charges	(3,493)	(226)	-	-	-	-	(3,719)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	(286)	(352)	-	-	(8)	(173)	(819)
Total		(3,779)	(460)	(677)	738	247	(173)	(4,104)
1st half 2023	Inventory valuation effect	-	-	-	(658)	(113)	-	(771)
	Effect of changes in fair value	-	(617)	72	-	-	-	(545)
	Restructuring charges	-	-	(5)	-	-	-	(5)
	Asset impairment and provisions charges	(123)	-	(346)	(60)	-	-	(529)
	Gains (losses) on disposals of assets	-	-	-	-	203	-	203
	Other items	103	11	(117)	(122)	(21)	(59)	(205)
Total		(20)	(606)	(396)	(840)	69	(59)	(1,852)
1st half 2022	Inventory valuation effect	-	-	-	1,573	460	-	2,033
	Effect of changes in fair value	-	18	(649)	-	-	-	(631)
	Restructuring charges	-	-	(11)	-	-	-	(11)
	Asset impairment and provisions charges	(4,525)	(4,174)	-	-	(72)	(9)	(8,780)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	(272)	(352)	-	(32)	(8)	(84)	(748)
Total		(4,797)	(4,508)	(660)	1,541	380	(93)	(8,137)

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Shareholders' equity

6 Months Ended

Jun. 30, 2023

Shareholders' equity

Shareholders' equity

4) Shareholders’ equity

Treasury shares (TotalEnergies shares held directly by TotalEnergies SE)

	December 31, 2022	June 30, 2023
Number of treasury shares	137,187,667	68,505,002
Percentage of share capital	5.24%	2.74%
Of which shares acquired with the intention to cancel them	128,869,261	65,043,639
Of which shares allocated to TotalEnergies share performance plans for Company employees	8,231,365	3,362,143
Of which shares intended to be allocated to new share performance or purchase options plans	87,041	99,220

Dividend

The Shareholder’s Meeting of May 26, 2023 approved the distribution of an ordinary dividend at €2.81 per share and confirmed the €1 per share exceptional dividend for the fiscal year 2022, i.e. a total amount of €3.81 per share. The final dividend (ordinary and exceptional) for fiscal year 2022 was paid according to the following timetable:

Ordinary dividend 2022	First interim	Second interim	Third interim	Final
Amount	€0.69	€0.69	€0.69	€0.74
Set date	April 27, 2022	July 27, 2022	October 26, 2022	May 26, 2023
Ex-dividend date	September 21, 2022	January 2, 2023	March 22, 2023	June 21, 2023
Payment date	October 3, 2022	January 12, 2023	April 3, 2023	July 3, 2023

Special interim dividend 2022

Amount per share	€ 1
Ex-dividend date	December 6, 2022
Payment date	December 16, 2022

The Board of Directors, during its April 26, 2023 meeting, set the first interim dividend for the fiscal year 2023 at €0.74 per share. The ex-dividend date of this intermin dividend will be September 20, 2023 and it will be paid in cash on October 2, 2023.

Furthermore, the Board of Directors, during its July 26, 2023 meeting, set the second interim dividend for the fiscal year 2023 at €0.74 per share, i.e an amount equal to the aforementioned first interim dividend. The ex-dividend date of this intermin dividend will be January 2, 2024 and it will be paid in cash on January 12, 2024.

Dividend 2023	First interim	Second interim
Amount	€ 0.74	€ 0.74
Set date	April 26, 2023	July 26, 2023
Ex-dividend date	September 20, 2023	January 2, 2024
Payment date	October 2, 2023	January 12, 2024

Earnings per share in Euro

Earnings per share in Euro, calculated from the earnings per share in U.S. dollars converted at the average Euro/USD exchange rate for the period, amounted to €1.51 per share for the 2^nd quarter 2023 (€2.08 per share for the 1^st quarter 2023 and €2.03 per share for the 2^nd quarter 2022). Diluted earnings per share calculated using the same method amounted to €1.51 per share for the 2^nd quarter 2023 (€2.06 per share for the 1^st quarter 2023 and €2.03 per share for the 2^nd quarter 2022).

Earnings per share are calculated after remuneration of perpetual subordinated notes.

Perpetual subordinated notes

TotalEnergies SE has not issued any perpetual subordinated notes during the first six months of 2023.

TotalEnergies SE fully reimbursed the nominal amount of €1,000 million of its perpetual subordinated notes 2.708% issued in October 2016, on their first call date, on May 5th, 2023.

Other comprehensive income

Detail of other comprehensive income is presented in the table below:

(M$)	1st half 2023	1st half 2022
Actuarial gains and losses	138	204
Change in fair value of investments in equity instruments	3	(17)
Tax effect	(51)	(42)
Currency translation adjustment generated by the parent company	1,409	(7,137)
Sub-total items not potentially reclassifiable to profit and loss	1,499	(6,992)
Currency translation adjustment	(1,299)	3,535
- unrealized gain/(loss) of the period	(1,381)	3,532
- less gain/(loss) included in net income	(82)	(3)
Cash flow hedge	1,891	2,959
- unrealized gain/(loss) of the period	1,699	2,901
- less gain/(loss) included in net income	(192)	(58)
Variation of foreign currency basis spread	8	70
- unrealized gain/(loss) of the period	(8)	49
- less gain/(loss) included in net income	(16)	(21)
Share of other comprehensive income of equity affiliates, net amount	(95)	2,464
- unrealized gain/(loss) of the period	(84)	2,427
- less gain/(loss) included in net income	11	(37)
Other	(1)	(1)
Tax effect	(472)	(1,059)
Sub-total items potentially reclassifiable to profit and loss	32	7,968
Total other comprehensive income (net amount)	1,531	976

Tax effects relating to each component of other comprehensive income are as follows:

	1st half 2023			1st half 2022
	Pre-tax				Pre-tax
(M$)	amount	Tax effect	Net amount		amount	Tax effect	Net amount
Actuarial gains and losses	138	(50)	88		204	(53)	151
Change in fair value of investments in equity instruments	3	(1)	2		(17)	11	(6)
Currency translation adjustment generated by the parent company	1,409	-	1,409		(7,137)	-	(7,137)
Sub-total items not potentially reclassifiable to profit and loss	1,550	(51)	1,499		(6,950)	(42)	(6,992)
Currency translation adjustment	(1,299)	-	(1,299)		3,535	-	3,535
Cash flow hedge	1,891	(470)	1,421		2,959	(1,041)	1,918
Variation of foreign currency basis spread	8	(2)	6		70	(18)	52
Share of other comprehensive income of equity affiliates, net amount	(95)	-	(95)		2,464	-	2,464
Other	(1)	-	(1)		(1)	-	(1)
Sub-total items potentially reclassifiable to profit and loss	504	(472)	32		9,027	(1,059)	7,968
Total other comprehensive income	2,054	(523)	1,531		2,077	(1,101)	976

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Financial debt

6 Months Ended

Jun. 30, 2023

Financial debt

Financial debt

5) Financial debt

The Company has not issued any new senior bond during the first six months of 2023.

The Company reimbursed two senior bonds during the first six months of 2023:

- Bond 2.700% issued by TotalEnergies Capital International in 2012 and maturing in January 2023 ($1,000 million);

- Bond 2.125% issued by TotalEnergies Capital International in 2012 (€500 million) and tapped in 2013 (€250 million) forming a single series (€750 million) and maturing in March 2023.

In addition, the $8 billion credit line, put in place in March 2022, has not been extended and therefore ended in March 2023.

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Related parties

6 Months Ended

Jun. 30, 2023

Related parties

Related parties

6) Related parties

The related parties are mainly equity affiliates and non-consolidated investments.

There were no major changes concerning transactions with related parties during the first six months of 2023.

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Other risks and contingent liabilities

6 Months Ended

Jun. 30, 2023

Other risks and contingent liabilities

Other risks and contingent liabilities

7) Other risks and contingent liabilities

TotalEnergies is not currently aware of any exceptional event, dispute, risks or contingent liabilities that could have a material impact on the assets and liabilities, results, financial position or operations of the TotalEnergies, other than those mentioned below.

Yemen

In Yemen, the deterioration of security conditions in the vicinity of the Balhaf site caused the company Yemen LNG, in which TotalEnergies holds a stake of 39.62%, to stop its commercial production and export of LNG and to declare force majeure to its various stakeholders in 2015. The plant has been put in preservation mode.

Mozambique

Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, TotalEnergies has confirmed on April 26, 2021, the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation led TotalEnergies, as operator of Mozambique LNG project, to declare force majeure.

Disputes relating to Climate

In France, the Corporation was summoned in January 2020 before Nanterre’s Court of Justice by certain associations and local communities in order to oblige the Company to complete its Vigilance Plan, by identifying in detail risks relating to a global warming above 1.5°C, as well as indicating the expected amount of future greenhouse gas emissions related to the Company’s activities and its product utilization by third parties and in order to obtain an injunction ordering the Corporation to immediately cease exploration and exploitation of new oil or gas fields, to reduce its oil and gas production by 2030 and 2050, and to reduce its net direct and indirect CO₂ emissions by 40% in 2040 compared with 2019. A new procedural law led to the transfer of these proceedings to the Paris judicial court in February 2022. This action was declared inadmissible on July 6, 2023, by the Paris judicial court. TotalEnergies considers that it has fulfilled its obligations under the French law on the vigilance duty.

Several associations in France brought a civil action against TotalEnergies and TotalEnergies Gaz et Electricité France before the Paris judicial court, with the aim of proving that since May 2021 – after the change of name of TotalEnergies – the Company’s corporate communication and its publicity campaign contain environmental claims that are either false or misleading for the consumer. TotalEnergies considers that these accusations are unfounded.

In France, on July 4, 2023, nine shareholders (two companies and 7 individuals holding a small number of the Corporation's shares) brought an action against the Corporation before the Nanterre Commercial Court, seeking the annulment of resolution no. 3 passed by the Corporation's Annual Shareholders’ Meeting on May 26, 2023, recording the results for fiscal year 2022 and setting the amount of the dividend to be distributed for fiscal year 2022. The plaintiffs essentially allege an insufficient provision for impairment of the Company's assets in the financial statements for the fiscal year 2022, due to the insufficient consideration of future risks and costs related to the consequences of greenhouse gas emissions emitted by its customers (scope 3) and carbon cost assumptions presented as too low. The Corporation considers this action to be unfounded.

In the United States, US subsidiaries of TotalEnergies (TotalEnergies EP USA, Inc. and TotalEnergies Marketing USA, Inc.) were summoned, amongst many companies and professional associations, in a number of "climate litigation" cases, seeking to establish legal liability for past greenhouse gas emissions, and to compensate plaintiff public authorities, in particular for adaptation costs. The Corporation was summoned, along with one of its subsidiaries, in one of these litigations. The Corporation and its subsidiaries consider that the courts lack jurisdiction, and have many arguments to put forward, and consider that the past and present behavior of the Corporation and its subsidiaries does not constitute a fault susceptible to give rise to liability.

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Subsequent events

6 Months Ended

Jun. 30, 2023

Subsequent events

Subsequent events

8) Subsequent events

On June 30, 2023, TotalEnergies held an interest of 33.86% in Total Eren Holding and an interest of 5.73% in Total Eren SA.

On June 29, 2023, the Company exercised the option it had to acquire all the shares of these two companies, exercisable over a period of 3 months between April 1, 2023 and June 30, 2023.

The acquisition of the shares was finalized on July 24, 2023 for a net investment of around 1.5 billion euros.

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Basis of preparation of the consolidated financial statements (Policies)

6 Months Ended

Jun. 30, 2023

Basis of preparation of the consolidated financial statements

Accounting principles applied in the interim financial statements

The accounting principles applied for the consolidated financial statements at June 30, 2023, are consistent with those used for the financial statements at December 31, 2022.

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Business segment information (Tables)

6 Months Ended

Jun. 30, 2023

Business segment information

Schedule of information by business segment

1sthalf 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	3,388	6,892	14,804	49,704	44,071	15	-	118,874
Intersegment sales	20,836	8,777	2,355	17,691	321	121	(50,101)	-
Excise taxes	-	-	-	(415)	(8,692)	-	-	(9,107)
Revenues from sales	24,224	15,669	17,159	66,980	35,700	136	(50,101)	109,767
Operating expenses	(9,924)	(13,242)	(16,165)	(63,934)	(34,459)	(437)	50,101	(88,060)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,183)	(565)	(98)	(808)	(465)	(49)	-	(6,168)
Operating income	10,117	1,862	896	2,238	776	(350)	-	15,539
Net income (loss) from equity affiliates and other items	53	1,276	(320)	55	307	(38)	-	1,333
Tax on net operating income	(5,287)	(342)	(152)	(512)	(281)	23	-	(6,551)
Net operating income	4,883	2,796	424	1,781	802	(365)	-	10,321
Net cost of net debt								(538)
Non-controlling interests								(138)
Net income - TotalEnergies share								9,645

1sthalf 2023 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	-	-	-	-	-	-	-
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	-	-	-	-	-	-	-
Operating expenses	(33)	(700)	67	(640)	(177)	(57)	-	(1,540)
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)	-	-	(36)	-	-	-	(183)
Operating income (b)	(180)	(700)	67	(676)	(177)	(57)	-	(1,723)
Net income (loss) from equity affiliates and other items	(179)	12	(457)	(96)	217	2	-	(501)
Tax on net operating income	240	82	(6)	(69)	33	15	-	295
Net operating income (b)	(119)	(606)	(396)	(841)	73	(40)	-	(1,929)
Net cost of net debt								80
Non-controlling interests								(3)
Net income - TotalEnergies share								(1,852)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	(607)	(147)	-	-	-
- On net operating income		-	-	(659)	(109)	-	-	-

1sthalf 2023 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	3,388	6,892	14,804	49,704	44,071	15	-	118,874
Intersegment sales	20,836	8,777	2,355	17,691	321	121	(50,101)	-
Excise taxes	-	-	-	(415)	(8,692)	-	-	(9,107)
Revenues from sales	24,224	15,669	17,159	66,980	35,700	136	(50,101)	109,767
Operating expenses	(9,891)	(12,542)	(16,232)	(63,294)	(34,282)	(380)	50,101	(86,520)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,036)	(565)	(98)	(772)	(465)	(49)	-	(5,985)
Adjusted operating income	10,297	2,562	829	2,914	953	(293)	-	17,262
Net income (loss) from equity affiliates and other items	232	1,264	137	151	90	(40)	-	1,834
Tax on net operating income	(5,527)	(424)	(146)	(443)	(314)	8	-	(6,846)
Adjusted net operating income	5,002	3,402	820	2,622	729	(325)	-	12,250
Net cost of net debt								(618)
Non-controlling interests								(135)
Adjusted net income - TotalEnergies share								11,497

1sthalf 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	6,621	1,821	2,041	714	415	65	-	11,677
Total divestments	57	94	298	60	329	4	-	842
Cash flow from operating activities	8,583	4,868	999	1,072	(8)	(481)	-	15,033

1sthalf 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	4,672	9,408	13,167	66,069	50,056	8	-	143,380
Intersegment sales	27,623	7,438	1,009	22,062	983	133	(59,248)	-
Excise taxes	-	-	-	(378)	(8,607)	-	-	(8,985)
Revenues from sales	32,295	16,846	14,176	87,753	42,432	141	(59,248)	134,395
Operating expenses	(11,468)	(13,030)	(14,686)	(80,653)	(40,294)	(850)	59,248	(101,733)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,773)	(554)	(94)	(769)	(514)	(77)	-	(6,781)
Operating income	16,054	3,262	(604)	6,331	1,624	(786)	-	25,881
Net income (loss) from equity affiliates and other items	(3,426)	(1,869)	192	505	56	179	-	(4,363)
Tax on net operating income	(7,739)	(553)	(1)	(1,391)	(521)	97	-	(10,108)
Net operating income	4,889	840	(413)	5,445	1,159	(510)	-	11,410
Net cost of net debt								(555)
Non-controlling interests								(219)
Net income - TotalEnergies share								10,636

1sthalf 2022 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	(18)	15	-	-	-	-	(3)
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	(18)	15	-	-	-	-	(3)
Operating expenses	(873)	45	(768)	1,722	641	(433)	-	334
Depreciation, depletion and impairment of tangible assets and mineral interests	(539)	(14)	-	-	(33)	(9)	-	(595)
Operating income (b)	(1,412)	13	(753)	1,722	608	(442)	-	(264)
Net income (loss) from equity affiliates and other items	(3,770)	(4,508)	11	169	(7)	106	-	(7,999)
Tax on net operating income	337	(13)	71	(326)	(180)	98	-	(13)
Net operating income (b)	(4,845)	(4,508)	(671)	1,565	421	(238)	-	(8,276)
Net cost of net debt								193
Non-controlling interests								(54)
Net income - TotalEnergies share								(8,137)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	1,722	684	-
- On net operating income		-	-	1,597	503	-

1sthalf 2022 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	4,672	9,426	13,152	66,069	50,056	8	-	143,383
Intersegment sales	27,623	7,438	1,009	22,062	983	133	(59,248)	-
Excise taxes	-	-	-	(378)	(8,607)	-	-	(8,985)
Revenues from sales	32,295	16,864	14,161	87,753	42,432	141	(59,248)	134,398
Operating expenses	(10,595)	(13,075)	(13,918)	(82,375)	(40,935)	(417)	59,248	(102,067)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,234)	(540)	(94)	(769)	(481)	(68)	-	(6,186)
Adjusted operating income	17,466	3,249	149	4,609	1,016	(344)	-	26,145
Net income (loss) from equity affiliates and other items	344	2,639	181	336	63	73	-	3,636
Tax on net operating income	(8,076)	(540)	(72)	(1,065)	(341)	(1)	-	(10,095)
Adjusted net operating income	9,734	5,348	258	3,880	738	(272)	-	19,686
Net cost of net debt								(748)
Non-controlling interests								(165)
Adjusted net income - TotalEnergies share								18,773

1sthalf 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	6,099	575	1,736	561	428	34	-	9,433
Total divestments	346	1,237	244	83	151	12	-	2,073
Cash flow from operating activities	14,536	6,021	(1,736)	4,633	1,478	(1,031)	-	23,901

2nd quarter 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	1,434	2,020	6,249	24,849	21,712	7	-	56,271
Intersegment sales	10,108	2,778	670	8,630	201	64	(22,451)	-
Excise taxes	-	-	-	(231)	(4,506)	-	-	(4,737)
Revenues from sales	11,542	4,798	6,919	33,248	17,407	71	(22,451)	51,534
Operating expenses	(5,162)	(3,797)	(6,334)	(32,042)	(16,672)	(276)	22,451	(41,832)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,117)	(277)	(51)	(394)	(241)	(26)	-	(3,106)
Operating income	4,263	724	534	812	494	(231)	-	6,596
Net income (loss) from equity affiliates and other items	(15)	472	(250)	3	64	(17)	-	257
Tax on net operating income	(1,889)	(137)	(41)	(187)	(162)	(40)	-	(2,456)
Net operating income	2,359	1,059	243	628	396	(288)	-	4,397
Net cost of net debt								(245)
Non-controlling interests								(64)
Net income - TotalEnergies share								4,088

2nd quarter 2023 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	76	-	-	-	-	-	76
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	76	-	-	-	-	-	76
Operating expenses	(25)	(400)	137	(216)	(76)	(57)	-	(637)
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)	-	-	-	-	-	-	(147)
Operating income (b)	(172)	(324)	137	(216)	(76)	(57)	-	(708)
Net income (loss) from equity affiliates and other items	(106)	16	(346)	(59)	-	2	-	(493)
Tax on net operating income	288	37	2	(101)	23	15	-	264
Net operating income (b)	10	(271)	(207)	(376)	(53)	(40)	-	(937)
Net cost of net debt								72
Non-controlling interests								(3)
Net income - TotalEnergies share								(868)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	(192)	(60)	-
- On net operating income		-	-	(332)	(45)	-

2nd quarter 2023 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	1,434	1,944	6,249	24,849	21,712	7	-	56,195
Intersegment sales	10,108	2,778	670	8,630	201	64	(22,451)	-
Excise taxes	-	-	-	(231)	(4,506)	-	-	(4,737)
Revenues from sales	11,542	4,722	6,919	33,248	17,407	71	(22,451)	51,458
Operating expenses	(5,137)	(3,397)	(6,471)	(31,826)	(16,596)	(219)	22,451	(41,195)
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,970)	(277)	(51)	(394)	(241)	(26)	-	(2,959)
Adjusted operating income	4,435	1,048	397	1,028	570	(174)	-	7,304
Net income (loss) from equity affiliates and other items	91	456	96	62	64	(19)	-	750
Tax on net operating income	(2,177)	(174)	(43)	(86)	(185)	(55)	-	(2,720)
Adjusted net operating income	2,349	1,330	450	1,004	449	(248)	-	5,334
Net cost of net debt								(317)
Non-controlling interests								(61)
Adjusted net income - TotalEnergies share								4,956

2nd quarter 2023	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	2,569	626	807	489	256	30	-	4,777
Total divestments	26	45	149	52	28	4	-	304
Cash flow from operating activities	4,047	1,332	2,284	1,923	665	(351)	-	9,900

2nd quarter 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	2,521	3,901	6,380	35,061	26,907	4	-	74,774
Intersegment sales	13,805	3,940	488	12,785	716	70	(31,804)	-
Excise taxes	-	-	-	(186)	(4,143)	-	-	(4,329)
Revenues from sales	16,326	7,841	6,868	47,660	23,480	74	(31,804)	70,445
Operating expenses	(5,760)	(6,144)	(7,392)	(43,242)	(22,310)	(557)	31,804	(53,601)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,112)	(276)	(51)	(389)	(241)	(33)	-	(3,102)
Operating income	8,454	1,421	(575)	4,029	929	(516)	-	13,742
Net income (loss) from equity affiliates and other items	(3,668)	626	197	349	98	71	-	(2,327)
Tax on net operating income	(3,876)	(292)	32	(866)	(296)	(8)	-	(5,306)
Net operating income	910	1,755	(346)	3,512	731	(453)	-	6,109
Net cost of net debt								(305)
Non-controlling interests								(112)
Net income - TotalEnergies share								5,692

2nd quarter 2022 (adjustments)(a)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	-	(15)	-	-	-	-	-	(15)
Intersegment sales	-	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-	-
Revenues from sales	-	(15)	-	-	-	-	-	(15)
Operating expenses	(82)	152	(758)	775	373	(301)	-	159
Depreciation, depletion and impairment of tangible assets and mineral interests	(46)	(14)	-	-	(4)	-	-	(64)
Operating income (b)	(128)	123	(758)	775	369	(301)	-	80
Net income (loss) from equity affiliates and other items	(3,756)	(560)	2	52	(4)	-	-	(4,266)
Tax on net operating income	75	(23)	70	(75)	(100)	78	-	25
Net operating income (b)	(3,809)	(460)	(686)	752	265	(223)	-	(4,161)
Net cost of net debt								80
Non-controlling interests								(23)
Net income - TotalEnergies share								(4,104)
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
(b) Of which inventory valuation effect
- On operating income		-	-	775	376	-	-	-
- On net operating income		-	-	752	275	-	-	-

2nd quarter 2022 (adjusted)	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
External sales	2,521	3,916	6,380	35,061	26,907	4	-	74,789
Intersegment sales	13,805	3,940	488	12,785	716	70	(31,804)	-
Excise taxes	-	-	-	(186)	(4,143)	-	-	(4,329)
Revenues from sales	16,326	7,856	6,868	47,660	23,480	74	(31,804)	70,460
Operating expenses	(5,678)	(6,296)	(6,634)	(44,017)	(22,683)	(256)	31,804	(53,760)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,066)	(262)	(51)	(389)	(237)	(33)	-	(3,038)
Adjusted operating income	8,582	1,298	183	3,254	560	(215)	-	13,662
Net income (loss) from equity affiliates and other items	88	1,186	195	297	102	71	-	1,939
Tax on net operating income	(3,951)	(269)	(38)	(791)	(196)	(86)	-	(5,331)
Adjusted net operating income	4,719	2,215	340	2,760	466	(230)	-	10,270
Net cost of net debt								(385)
Non-controlling interests								(89)
Adjusted net income - TotalEnergies share								9,796

2nd quarter 2022	Exploration			Refining	Marketing
	&	Integrated	Integrated	&	&
(M$)	Production	LNG	Power	Chemicals	Services	Corporate	Intercompany	Total
Total expenditures	4,128	285	587	333	288	25	-	5,646
Total divestments	63	393	73	56	72	7	-	664
Cash flow from operating activities	8,768	3,802	168	3,526	580	(560)	-	16,284

Schedule of reconciliation of the information by business segment with consolidated financial statements

			Consolidated
1sthalf 2023			statement of
(M$)	Adjusted	Adjustments(a)	income
Sales	118,874	-	118,874
Excise taxes	(9,107)	-	(9,107)
Revenues from sales	109,767	-	109,767
Purchases net of inventory variation	(70,858)	(1,357)	(72,215)
Other operating expenses	(15,506)	(185)	(15,691)
Exploration costs	(156)	2	(154)
Depreciation, depletion and impairment of tangible assets and mineral interests	(5,985)	(183)	(6,168)
Other income	193	264	457
Other expense	(393)	(273)	(666)
Financial interest on debt	(1,434)	-	(1,434)
Financial income and expense from cash & cash equivalents	775	128	903
Cost of net debt	(659)	128	(531)
Other financial income	649	22	671
Other financial expense	(356)	-	(356)
Net income (loss) from equity affiliates	1,741	(514)	1,227
Income taxes	(6,805)	247	(6,558)
Consolidated net income	11,632	(1,849)	9,783
TotalEnergies share	11,497	(1,852)	9,645
Non-controlling interests	135	3	138

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

			Consolidated
1sthalf 2022			statement of
(M$)	Adjusted	Adjustments(a)	income
Sales	143,383	(3)	143,380
Excise taxes	(8,985)	-	(8,985)
Revenues from sales	134,398	(3)	134,395
Purchases net of inventory variation	(86,785)	1,694	(85,091)
Other operating expenses	(15,029)	(635)	(15,664)
Exploration costs	(253)	(725)	(978)
Depreciation, depletion and impairment of tangible assets and mineral interests	(6,186)	(595)	(6,781)
Other income	550	22	572
Other expense	(798)	(2,797)	(3,595)
Financial interest on debt	(1,034)	-	(1,034)
Financial income and expense from cash & cash equivalents	189	270	459
Cost of net debt	(845)	270	(575)
Other financial income	350	84	434
Other financial expense	(271)	-	(271)
Net income (loss) from equity affiliates	3,805	(5,308)	(1,503)
Income taxes	(9,998)	(90)	(10,088)
Consolidated net income	18,938	(8,083)	10,855
TotalEnergies share	18,773	(8,137)	10,636
Non-controlling interests	165	54	219

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

			Consolidated
2nd quarter 2023			statement
(M$)	Adjusted	Adjustments(a)	of income
Sales	56,195	76	56,271
Excise taxes	(4,737)	-	(4,737)
Revenues from sales	51,458	76	51,534
Purchases net of inventory variation	(33,379)	(485)	(33,864)
Other operating expenses	(7,754)	(152)	(7,906)
Exploration costs	(62)	-	(62)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,959)	(147)	(3,106)
Other income	116	-	116
Other expense	(256)	(110)	(366)
Financial interest on debt	(724)	-	(724)
Financial income and expense from cash & cash equivalents	402	108	510
Cost of net debt	(322)	108	(214)
Other financial income	401	12	413
Other financial expense	(173)	-	(173)
Net income (loss) from equity affiliates	662	(395)	267
Income taxes	(2,715)	228	(2,487)
Consolidated net income	5,017	(865)	4,152
TotalEnergies share	4,956	(868)	4,088
Non-controlling interests	61	3	64

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

			Consolidated
2nd quarter 2022			statement
(M$)	Adjusted	Adjustments(a)	of income
Sales	74,789	(15)	74,774
Excise taxes	(4,329)	-	(4,329)
Revenues from sales	70,460	(15)	70,445
Purchases net of inventory variation	(46,023)	580	(45,443)
Other operating expenses	(7,620)	(421)	(8,041)
Exploration costs	(117)	-	(117)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,038)	(64)	(3,102)
Other income	429	-	429
Other expense	(529)	(776)	(1,305)
Financial interest on debt	(572)	-	(572)
Financial income and expense from cash & cash equivalents	130	115	245
Cost of net debt	(442)	115	(327)
Other financial income	231	-	231
Other financial expense	(136)	-	(136)
Net income (loss) from equity affiliates	1,944	(3,490)	(1,546)
Income taxes	(5,274)	(10)	(5,284)
Consolidated net income	9,885	(4,081)	5,804
TotalEnergies share	9,796	(4,104)	5,692
Non-controlling interests	89	23	112

(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

Schedule of detail of the adjustment items

		Exploration			Refining	Marketing
		&	Integrated	Integrated	&	&
(M$)		Production	LNG	Power	Chemicals	Services	Corporate	Total
2nd quarter 2023	Inventory valuation effect	-	-	-	(192)	(60)	-	(252)
	Effect of changes in fair value	-	(322)	165	-	-	-	(157)
	Restructuring charges	-	-	-	-	-	-	-
	Asset impairment and provisions charges	(155)	-	-	-	-	-	(155)
	Gains (losses) on disposals of assets	–	–	–	–	–	–	–
	Other items	(17)	(2)	(28)	(24)	(16)	(57)	(144)
Total		(172)	(324)	137	(216)	(76)	(57)	(708)
2nd quarter 2022	Inventory valuation effect	-	-	-	775	376	-	1,151
	Effect of changes in fair value	-	141	(738)	-	-	-	(597)
	Restructuring charges	-	-	(17)	-	-	-	(17)
	Asset impairment and provisions charges	(46)	(18)	-	-	4	-	(60)
	Other items	(82)	-	(3)	-	(11)	(301)	(397)
Total		(128)	123	(758)	775	369	(301)	80
1st half 2023	Inventory valuation effect	-	-	-	(607)	(147)	-	(754)
	Effect of changes in fair value	-	(698)	95	-	-	-	(603)
	Restructuring charges	-	-	-	-	-	-	-
	Asset impairment and provisions charges	(155)	-	-	(45)	-	-	(200)
	Gains (losses) on disposals of assets	–	–	–	–	(14)	–	(14)
	Other items	(25)	(2)	(28)	(24)	(16)	(57)	(152)
Total		(180)	(700)	67	(676)	(177)	(57)	(1,723)
1st half 2022	Inventory valuation effect	-	-	-	1,722	684	-	2,406
	Effect of changes in fair value	-	31	(716)	-	-	-	(685)
	Restructuring charges	-	-	(22)	-	-	-	(22)
	Asset impairment and provisions charges	(1,330)	(18)	-	-	(65)	(9)	(1,422)
	Other items	(82)	-	(15)	-	(11)	(433)	(541)
Total		(1,412)	13	(753)	1,722	608	(442)	(264)

ADJUSTMENTS TO NET INCOME, TotalEnergies SHARE

		Exploration			Refining	Marketing
		&	Integrated	Integrated	&	&
(M$)		Production	LNG	Power	Chemicals	Services	Corporate	Total
2nd quarter 2023	Inventory valuation effect	-	-	-	(333)	(47)	-	(380)
	Effect of changes in fair value	-	(286)	175	-	-	-	(111)
	Restructuring charges	-	-	(5)	-	-	-	(5)
	Asset impairment and provisions charges	(123)	-	(346)	-	-	-	(469)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	188	15	(31)	(44)	(8)	(23)	97
Total		65	(271)	(207)	(377)	(55)	(23)	(868)
2nd quarter 2022	Inventory valuation effect	-	-	-	738	255	-	993
	Effect of changes in fair value	-	118	(669)	-	-	-	(551)
	Restructuring charges	-	-	(8)	-	-	-	(8)
	Asset impairment and provisions charges	(3,493)	(226)	-	-	-	-	(3,719)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	(286)	(352)	-	-	(8)	(173)	(819)
Total		(3,779)	(460)	(677)	738	247	(173)	(4,104)
1st half 2023	Inventory valuation effect	-	-	-	(658)	(113)	-	(771)
	Effect of changes in fair value	-	(617)	72	-	-	-	(545)
	Restructuring charges	-	-	(5)	-	-	-	(5)
	Asset impairment and provisions charges	(123)	-	(346)	(60)	-	-	(529)
	Gains (losses) on disposals of assets	-	-	-	-	203	-	203
	Other items	103	11	(117)	(122)	(21)	(59)	(205)
Total		(20)	(606)	(396)	(840)	69	(59)	(1,852)
1st half 2022	Inventory valuation effect	-	-	-	1,573	460	-	2,033
	Effect of changes in fair value	-	18	(649)	-	-	-	(631)
	Restructuring charges	-	-	(11)	-	-	-	(11)
	Asset impairment and provisions charges	(4,525)	(4,174)	-	-	(72)	(9)	(8,780)
	Gains (losses) on disposals of assets	-	-	-	-	-	-	-
	Other items	(272)	(352)	-	(32)	(8)	(84)	(748)
Total		(4,797)	(4,508)	(660)	1,541	380	(93)	(8,137)

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Shareholders' equity (Tables)

6 Months Ended

Jun. 30, 2023

Shareholders' equity

Schedule of treasury shares held

	December 31, 2022	June 30, 2023
Number of treasury shares	137,187,667	68,505,002
Percentage of share capital	5.24%	2.74%
Of which shares acquired with the intention to cancel them	128,869,261	65,043,639
Of which shares allocated to TotalEnergies share performance plans for Company employees	8,231,365	3,362,143
Of which shares intended to be allocated to new share performance or purchase options plans	87,041	99,220

Schedule of information about dividends paid

Ordinary dividend 2022	First interim	Second interim	Third interim	Final
Amount	€0.69	€0.69	€0.69	€0.74
Set date	April 27, 2022	July 27, 2022	October 26, 2022	May 26, 2023
Ex-dividend date	September 21, 2022	January 2, 2023	March 22, 2023	June 21, 2023
Payment date	October 3, 2022	January 12, 2023	April 3, 2023	July 3, 2023

Amount per share	€ 1
Ex-dividend date	December 6, 2022
Payment date	December 16, 2022

Dividend 2023	First interim	Second interim
Amount	€ 0.74	€ 0.74
Set date	April 26, 2023	July 26, 2023
Ex-dividend date	September 20, 2023	January 2, 2024
Payment date	October 2, 2023	January 12, 2024

Schedule of other comprehensive income

(M$)	1st half 2023	1st half 2022
Actuarial gains and losses	138	204
Change in fair value of investments in equity instruments	3	(17)
Tax effect	(51)	(42)
Currency translation adjustment generated by the parent company	1,409	(7,137)
Sub-total items not potentially reclassifiable to profit and loss	1,499	(6,992)
Currency translation adjustment	(1,299)	3,535
- unrealized gain/(loss) of the period	(1,381)	3,532
- less gain/(loss) included in net income	(82)	(3)
Cash flow hedge	1,891	2,959
- unrealized gain/(loss) of the period	1,699	2,901
- less gain/(loss) included in net income	(192)	(58)
Variation of foreign currency basis spread	8	70
- unrealized gain/(loss) of the period	(8)	49
- less gain/(loss) included in net income	(16)	(21)
Share of other comprehensive income of equity affiliates, net amount	(95)	2,464
- unrealized gain/(loss) of the period	(84)	2,427
- less gain/(loss) included in net income	11	(37)
Other	(1)	(1)
Tax effect	(472)	(1,059)
Sub-total items potentially reclassifiable to profit and loss	32	7,968
Total other comprehensive income (net amount)	1,531	976

Tax effects relating to each component of other comprehensive income are as follows:

	1st half 2023			1st half 2022
	Pre-tax				Pre-tax
(M$)	amount	Tax effect	Net amount		amount	Tax effect	Net amount
Actuarial gains and losses	138	(50)	88		204	(53)	151
Change in fair value of investments in equity instruments	3	(1)	2		(17)	11	(6)
Currency translation adjustment generated by the parent company	1,409	-	1,409		(7,137)	-	(7,137)
Sub-total items not potentially reclassifiable to profit and loss	1,550	(51)	1,499		(6,950)	(42)	(6,992)
Currency translation adjustment	(1,299)	-	(1,299)		3,535	-	3,535
Cash flow hedge	1,891	(470)	1,421		2,959	(1,041)	1,918
Variation of foreign currency basis spread	8	(2)	6		70	(18)	52
Share of other comprehensive income of equity affiliates, net amount	(95)	-	(95)		2,464	-	2,464
Other	(1)	-	(1)		(1)	-	(1)
Sub-total items potentially reclassifiable to profit and loss	504	(472)	32		9,027	(1,059)	7,968
Total other comprehensive income	2,054	(523)	1,531		2,077	(1,101)	976

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Changes in the Company structure - Main acquisitions and divestments, Exploration & Production (Details) - item	Mar. 31, 2023	Mar. 15, 2023
SARB and Umm Lulu offshore concession
Changes in the Company structure
Percentage of interest to be acquired		20.00%
Number of offshore fields		2
SARB and Umm Lulu offshore concession | ADNOC
Changes in the Company structure
Proportion of ownership interest in concession		60.00%
SARB and Umm Lulu offshore concession | OMV
Changes in the Company structure
Proportion of ownership interest in concession		20.00%
Mubarraz concession
Changes in the Company structure
Percentage of interest to be acquired	12.88%
Number of offshore fields	4
CEPAD
Changes in the Company structure
Percentage of interest to be acquired	20.00%
ADOC | CEPAD
Changes in the Company structure
Proportion of ownership interest in subsidiary	64.40%

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Changes in the Company structure - Main acquisitions and divestments, Integrated LNG (Details)	Jun. 12, 2022 MT / yr item
North Field East (NFE) LNG Project
Changes in the Company structure
Production of project	32
North Field East (NFE) JV
Changes in the Company structure
Proportion of ownership interest in joint venture	25.00%
QatarEnergy | North Field East (NFE) JV
Changes in the Company structure
Proportion of ownership interest in joint venture	75.00%
North Field East (NFE) JV | North Field East (NFE) LNG Project
Changes in the Company structure
Proportion of ownership interest in project	25.00%
Number of production equivalent LNG trains | item	1
Production of LNG train	8

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Changes in the Company structure - Main acquisitions and divestments, Integrated Power (Details) $ in Millions	Oct. 26, 2022 USD ($) GW MW
Joint venture for renewable portfolio of Casa Dos Ventos
Changes in the Company structure
Onshore wind capacity in operation | MW	700
Onshore wind under construction	1
Onshore wind	2.8
Solar projects under well advanced development	1.6
Maximum period to commence commercial operations of solar projects under well advanced development	5 years
Joint venture for renewable portfolio of Casa Dos Ventos
Changes in the Company structure
Proportion of ownership interest in joint venture	34.00%
Payments for JV transaction | $	$ 500
Maximum earn-out amount | $	$ 30
Additional equity share under option to acquire in 2027	15.00%
Joint venture for renewable portfolio of Casa Dos Ventos | Casa Dos Ventos
Changes in the Company structure
Proportion of ownership interest in joint venture	66.00%

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Changes in the Company structure - Divestment projects, Exploration & Production (Details) $ in Millions, $ in Millions	May 26, 2023 USD ($)	May 26, 2023 CAD ($)	Apr. 27, 2023 USD ($)	Apr. 27, 2023 CAD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)
Changes in the Company structure
Asset classified as held for sale					$ 8,441	$ 668	$ 568	$ 313
Liabilities classified as held for sale					2,289	$ 167	$ 167	$ 56
TotalEnergies EP Canada Ltd
Changes in the Company structure
Asset classified as held for sale					5,435
Liabilities classified as held for sale					$ 893
TotalEnergies EP Canada Ltd | Suncor Energy Inc
Changes in the Company structure
Consideration agreed for sale of assets, cash			$ 4,100	$ 5,500
Consideration agreed for sale of assets, additional payments under specific conditions			$ 450	$ 600
Surmont asset | Conoco Phillips
Changes in the Company structure
Consideration agreed for sale of assets, cash	$ 3,000	$ 4,000
Consideration agreed for sale of assets, additional payments under specific conditions	$ 325	$ 440
Percentage of interest to be purchased under preemption right	50.00%	50.00%

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Changes in the Company structure - Divestment projects, Marketing & Services (Details) $ in Millions, € in Billions	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 16, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)
Changes in the Company structure
Asset classified as held for sale	$ 8,441	$ 668		$ 568	$ 313
Liabilities classified as held for sale	2,289	$ 167		$ 167	$ 56
Retail networks in Belgium, Luxembourg, Germany and Netherlands
Changes in the Company structure
Enterprise value | €			€ 3.1
Asset classified as held for sale	1,901
Liabilities classified as held for sale	$ 1,227

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Business segment information - Information by business segment (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)
Business segment information
Number of business segments | segment				5
Sales	$ 56,271	$ 62,603	$ 74,774	$ 118,874	$ 143,380
Excise taxes	(4,737)	(4,370)	(4,329)	(9,107)	(8,985)
Revenues from sales	51,534	58,233	70,445	109,767	134,395
Operating expenses	(41,832)		(53,601)	(88,060)	(101,733)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,106)	(3,062)	(3,102)	(6,168)	(6,781)
Operating income	6,596		13,742	15,539	25,881
Net income (loss) from equity affiliates and other items	257		(2,327)	1,333	(4,363)
Tax on net operating income	(2,456)		(5,306)	(6,551)	(10,108)
Net operating income	4,397		6,109	10,321	11,410
Net cost of net debt	(245)		(305)	(538)	(555)
Non-controlling interests	(64)	(74)	(112)	(138)	(219)
Net income - TotalEnergies share	4,088	5,557	5,692	9,645	10,636
Total expenditures	4,777	6,900	5,646	11,677	9,433
Total divestments	304	538	664	842	2,073
Cash flow from operating activities	9,900	$ 5,133	16,284	15,033	23,901
Intercompany
Business segment information
Sales	(22,451)		(31,804)	(50,101)	(59,248)
Revenues from sales	(22,451)		(31,804)	(50,101)	(59,248)
Operating expenses	22,451		31,804	50,101	59,248
Exploration & Production
Business segment information
Sales	1,434		2,521	3,388	4,672
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,117)		(2,112)	(4,183)	(4,773)
Operating income	4,263		8,454	10,117	16,054
Net income (loss) from equity affiliates and other items	(15)		(3,668)	53	(3,426)
Tax on net operating income	(1,889)		(3,876)	(5,287)	(7,739)
Net operating income	2,359		910	4,883	4,889
Total expenditures	2,569		4,128	6,621	6,099
Total divestments	26		63	57	346
Cash flow from operating activities	4,047		8,768	8,583	14,536
Exploration & Production | Business segments and Corporate
Business segment information
Revenues from sales	11,542		16,326	24,224	32,295
Operating expenses	(5,162)		(5,760)	(9,924)	(11,468)
Exploration & Production | Intercompany
Business segment information
Sales	(10,108)		(13,805)	(20,836)	(27,623)
Integrated LNG
Business segment information
Sales	2,020		3,901	6,892	9,408
Depreciation, depletion and impairment of tangible assets and mineral interests	(277)		(276)	(565)	(554)
Operating income	724		1,421	1,862	3,262
Net income (loss) from equity affiliates and other items	472		626	1,276	(1,869)
Tax on net operating income	(137)		(292)	(342)	(553)
Net operating income	1,059		1,755	2,796	840
Total expenditures	626		285	1,821	575
Total divestments	45		393	94	1,237
Cash flow from operating activities	1,332		3,802	4,868	6,021
Integrated LNG | Business segments and Corporate
Business segment information
Revenues from sales	4,798		7,841	15,669	16,846
Operating expenses	(3,797)		(6,144)	(13,242)	(13,030)
Integrated LNG | Intercompany
Business segment information
Sales	(2,778)		(3,940)	(8,777)	(7,438)
Integrated Power
Business segment information
Sales	6,249		6,380	14,804	13,167
Depreciation, depletion and impairment of tangible assets and mineral interests	(51)		(51)	(98)	(94)
Operating income	534		(575)	896	(604)
Net income (loss) from equity affiliates and other items	(250)		197	(320)	192
Tax on net operating income	(41)		32	(152)	(1)
Net operating income	243		(346)	424	(413)
Total expenditures	807		587	2,041	1,736
Total divestments	149		73	298	244
Cash flow from operating activities	2,284		168	999	(1,736)
Integrated Power | Business segments and Corporate
Business segment information
Revenues from sales	6,919		6,868	17,159	14,176
Operating expenses	(6,334)		(7,392)	(16,165)	(14,686)
Integrated Power | Intercompany
Business segment information
Sales	(670)		(488)	(2,355)	(1,009)
Refining & Chemicals
Business segment information
Sales	24,849		35,061	49,704	66,069
Excise taxes	(231)		(186)	(415)	(378)
Depreciation, depletion and impairment of tangible assets and mineral interests	(394)		(389)	(808)	(769)
Operating income	812		4,029	2,238	6,331
Net income (loss) from equity affiliates and other items	3		349	55	505
Tax on net operating income	(187)		(866)	(512)	(1,391)
Net operating income	628		3,512	1,781	5,445
Total expenditures	489		333	714	561
Total divestments	52		56	60	83
Cash flow from operating activities	1,923		3,526	1,072	4,633
Refining & Chemicals | Business segments and Corporate
Business segment information
Revenues from sales	33,248		47,660	66,980	87,753
Operating expenses	(32,042)		(43,242)	(63,934)	(80,653)
Refining & Chemicals | Intercompany
Business segment information
Sales	(8,630)		(12,785)	(17,691)	(22,062)
Marketing & Services
Business segment information
Sales	21,712		26,907	44,071	50,056
Excise taxes	(4,506)		(4,143)	(8,692)	(8,607)
Depreciation, depletion and impairment of tangible assets and mineral interests	(241)		(241)	(465)	(514)
Operating income	494		929	776	1,624
Net income (loss) from equity affiliates and other items	64		98	307	56
Tax on net operating income	(162)		(296)	(281)	(521)
Net operating income	396		731	802	1,159
Total expenditures	256		288	415	428
Total divestments	28		72	329	151
Cash flow from operating activities	665		580	(8)	1,478
Marketing & Services | Business segments and Corporate
Business segment information
Revenues from sales	17,407		23,480	35,700	42,432
Operating expenses	(16,672)		(22,310)	(34,459)	(40,294)
Marketing & Services | Intercompany
Business segment information
Sales	(201)		(716)	(321)	(983)
Corporate
Business segment information
Sales	7		4	15	8
Depreciation, depletion and impairment of tangible assets and mineral interests	(26)		(33)	(49)	(77)
Operating income	(231)		(516)	(350)	(786)
Net income (loss) from equity affiliates and other items	(17)		71	(38)	179
Tax on net operating income	(40)		(8)	23	97
Net operating income	(288)		(453)	(365)	(510)
Total expenditures	30		25	65	34
Total divestments	4		7	4	12
Cash flow from operating activities	(351)		(560)	(481)	(1,031)
Corporate | Business segments and Corporate
Business segment information
Revenues from sales	71		74	136	141
Operating expenses	(276)		(557)	(437)	(850)
Corporate | Intercompany
Business segment information
Sales	(64)		(70)	(121)	(133)
Adjustments
Business segment information
Sales	76		(15)		(3)
Revenues from sales	76		(15)		(3)
Operating expenses	(637)		159	(1,540)	334
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)		(64)	(183)	(595)
Operating income	(708)		80	(1,723)	(264)
Net income (loss) from equity affiliates and other items	(493)		(4,266)	(501)	(7,999)
Tax on net operating income	264		25	295	(13)
Net operating income	(937)		(4,161)	(1,929)	(8,276)
Net cost of net debt	72		80	80	193
Non-controlling interests	(3)		(23)	(3)	(54)
Net income - TotalEnergies share	(868)		(4,104)	(1,852)	(8,137)
Adjustments | Exploration & Production
Business segment information
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)		(46)	(147)	(539)
Operating income	(172)		(128)	(180)	(1,412)
Net income (loss) from equity affiliates and other items	(106)		(3,756)	(179)	(3,770)
Tax on net operating income	288		75	240	337
Net operating income	10		(3,809)	(119)	(4,845)
Net income - TotalEnergies share	65		(3,779)	(20)	(4,797)
Adjustments | Exploration & Production | Business segments and Corporate
Business segment information
Operating expenses	(25)		(82)	(33)	(873)
Adjustments | Integrated LNG
Business segment information
Sales	76		(15)		(18)
Depreciation, depletion and impairment of tangible assets and mineral interests			(14)		(14)
Operating income	(324)		123	(700)	13
Net income (loss) from equity affiliates and other items	16		(560)	12	(4,508)
Tax on net operating income	37		(23)	82	(13)
Net operating income	(271)		(460)	(606)	(4,508)
Net income - TotalEnergies share	(271)		(460)	(606)	(4,508)
Adjustments | Integrated LNG | Business segments and Corporate
Business segment information
Revenues from sales	76		(15)		(18)
Operating expenses	(400)		152	(700)	45
Adjustments | Integrated Power
Business segment information
Sales					15
Operating income	137		(758)	67	(753)
Net income (loss) from equity affiliates and other items	(346)		2	(457)	11
Tax on net operating income	2		70	(6)	71
Net operating income	(207)		(686)	(396)	(671)
Net income - TotalEnergies share	(207)		(677)	(396)	(660)
Adjustments | Integrated Power | Business segments and Corporate
Business segment information
Revenues from sales					15
Operating expenses	137		(758)	67	(768)
Adjustments | Refining & Chemicals
Business segment information
Depreciation, depletion and impairment of tangible assets and mineral interests				(36)
Operating income	(216)		775	(676)	1,722
Net income (loss) from equity affiliates and other items	(59)		52	(96)	169
Tax on net operating income	(101)		(75)	(69)	(326)
Net operating income	(376)		752	(841)	1,565
Net income - TotalEnergies share	(377)		738	(840)	1,541
Adjustments | Refining & Chemicals | Business segments and Corporate
Business segment information
Operating expenses	(216)		775	(640)	1,722
Adjustments | Marketing & Services
Business segment information
Depreciation, depletion and impairment of tangible assets and mineral interests			(4)		(33)
Operating income	(76)		369	(177)	608
Net income (loss) from equity affiliates and other items			(4)	217	(7)
Tax on net operating income	23		(100)	33	(180)
Net operating income	(53)		265	73	421
Net income - TotalEnergies share	(55)		247	69	380
Adjustments | Marketing & Services | Business segments and Corporate
Business segment information
Operating expenses	(76)		373	(177)	641
Adjustments | Corporate
Business segment information
Depreciation, depletion and impairment of tangible assets and mineral interests					(9)
Operating income	(57)		(301)	(57)	(442)
Net income (loss) from equity affiliates and other items	2			2	106
Tax on net operating income	15		78	15	98
Net operating income	(40)		(223)	(40)	(238)
Net income - TotalEnergies share	(23)		(173)	(59)	(93)
Adjustments | Corporate | Business segments and Corporate
Business segment information
Operating expenses	(57)		(301)	(57)	(433)
Adjustments - Inventory valuation effect
Business segment information
Operating income	(252)		1,151	(754)	2,406
Net income - TotalEnergies share	(380)		993	(771)	2,033
Adjustments - Inventory valuation effect | Refining & Chemicals
Business segment information
Operating income	(192)		775	(607)	1,722
Net operating income	(332)		752	(659)	1,597
Net income - TotalEnergies share	(333)		738	(658)	1,573
Adjustments - Inventory valuation effect | Marketing & Services
Business segment information
Operating income	(60)		376	(147)	684
Net operating income	(45)		275	(109)	503
Net income - TotalEnergies share	(47)		255	(113)	460
Adjusted
Business segment information
Sales	56,195		74,789	118,874	143,383
Excise taxes	(4,737)		(4,329)	(9,107)	(8,985)
Revenues from sales	51,458		70,460	109,767	134,398
Operating expenses	(41,195)		(53,760)	(86,520)	(102,067)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,959)		(3,038)	(5,985)	(6,186)
Operating income	7,304		13,662	17,262	26,145
Net income (loss) from equity affiliates and other items	750		1,939	1,834	3,636
Tax on net operating income	(2,720)		(5,331)	(6,846)	(10,095)
Net operating income	5,334		10,270	12,250	19,686
Net cost of net debt	(317)		(385)	(618)	(748)
Non-controlling interests	(61)		(89)	(135)	(165)
Net income - TotalEnergies share	4,956		9,796	11,497	18,773
Adjusted | Intercompany
Business segment information
Sales	(22,451)		(31,804)	(50,101)	(59,248)
Revenues from sales	(22,451)		(31,804)	(50,101)	(59,248)
Operating expenses	22,451		31,804	50,101	59,248
Adjusted | Exploration & Production
Business segment information
Sales	1,434		2,521	3,388	4,672
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,970)		(2,066)	(4,036)	(4,234)
Operating income	4,435		8,582	10,297	17,466
Net income (loss) from equity affiliates and other items	91		88	232	344
Tax on net operating income	(2,177)		(3,951)	(5,527)	(8,076)
Net operating income	2,349		4,719	5,002	9,734
Adjusted | Exploration & Production | Business segments and Corporate
Business segment information
Revenues from sales	11,542		16,326	24,224	32,295
Operating expenses	(5,137)		(5,678)	(9,891)	(10,595)
Adjusted | Exploration & Production | Intercompany
Business segment information
Sales	(10,108)		(13,805)	(20,836)	(27,623)
Adjusted | Integrated LNG
Business segment information
Sales	1,944		3,916	6,892	9,426
Depreciation, depletion and impairment of tangible assets and mineral interests	(277)		(262)	(565)	(540)
Operating income	1,048		1,298	2,562	3,249
Net income (loss) from equity affiliates and other items	456		1,186	1,264	2,639
Tax on net operating income	(174)		(269)	(424)	(540)
Net operating income	1,330		2,215	3,402	5,348
Adjusted | Integrated LNG | Business segments and Corporate
Business segment information
Revenues from sales	4,722		7,856	15,669	16,864
Operating expenses	(3,397)		(6,296)	(12,542)	(13,075)
Adjusted | Integrated LNG | Intercompany
Business segment information
Sales	(2,778)		(3,940)	(8,777)	(7,438)
Adjusted | Integrated Power
Business segment information
Sales	6,249		6,380	14,804	13,152
Depreciation, depletion and impairment of tangible assets and mineral interests	(51)		(51)	(98)	(94)
Operating income	397		183	829	149
Net income (loss) from equity affiliates and other items	96		195	137	181
Tax on net operating income	(43)		(38)	(146)	(72)
Net operating income	450		340	820	258
Adjusted | Integrated Power | Business segments and Corporate
Business segment information
Revenues from sales	6,919		6,868	17,159	14,161
Operating expenses	(6,471)		(6,634)	(16,232)	(13,918)
Adjusted | Integrated Power | Intercompany
Business segment information
Sales	(670)		(488)	(2,355)	(1,009)
Adjusted | Refining & Chemicals
Business segment information
Sales	24,849		35,061	49,704	66,069
Excise taxes	(231)		(186)	(415)	(378)
Depreciation, depletion and impairment of tangible assets and mineral interests	(394)		(389)	(772)	(769)
Operating income	1,028		3,254	2,914	4,609
Net income (loss) from equity affiliates and other items	62		297	151	336
Tax on net operating income	(86)		(791)	(443)	(1,065)
Net operating income	1,004		2,760	2,622	3,880
Adjusted | Refining & Chemicals | Business segments and Corporate
Business segment information
Revenues from sales	33,248		47,660	66,980	87,753
Operating expenses	(31,826)		(44,017)	(63,294)	(82,375)
Adjusted | Refining & Chemicals | Intercompany
Business segment information
Sales	(8,630)		(12,785)	(17,691)	(22,062)
Adjusted | Marketing & Services
Business segment information
Sales	21,712		26,907	44,071	50,056
Excise taxes	(4,506)		(4,143)	(8,692)	(8,607)
Depreciation, depletion and impairment of tangible assets and mineral interests	(241)		(237)	(465)	(481)
Operating income	570		560	953	1,016
Net income (loss) from equity affiliates and other items	64		102	90	63
Tax on net operating income	(185)		(196)	(314)	(341)
Net operating income	449		466	729	738
Adjusted | Marketing & Services | Business segments and Corporate
Business segment information
Revenues from sales	17,407		23,480	35,700	42,432
Operating expenses	(16,596)		(22,683)	(34,282)	(40,935)
Adjusted | Marketing & Services | Intercompany
Business segment information
Sales	(201)		(716)	(321)	(983)
Adjusted | Corporate
Business segment information
Sales	7		4	15	8
Depreciation, depletion and impairment of tangible assets and mineral interests	(26)		(33)	(49)	(68)
Operating income	(174)		(215)	(293)	(344)
Net income (loss) from equity affiliates and other items	(19)		71	(40)	73
Tax on net operating income	(55)		(86)	8	(1)
Net operating income	(248)		(230)	(325)	(272)
Adjusted | Corporate | Business segments and Corporate
Business segment information
Revenues from sales	71		74	136	141
Operating expenses	(219)		(256)	(380)	(417)
Adjusted | Corporate | Intercompany
Business segment information
Sales	$ (64)		$ (70)	$ (121)	$ (133)

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Business segment information - Reconciliation with consolidated financial statements (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Business segment information
Sales	$ 56,271	$ 62,603	$ 74,774	$ 118,874		$ 143,380
Excise taxes	(4,737)	(4,370)	(4,329)	(9,107)		(8,985)
Revenues from sales	51,534	58,233	70,445	109,767		134,395
Purchases, net of inventory variation	(33,864)	(38,351)	(45,443)	(72,215)		(85,091)
Other operating expenses	(7,906)	(7,785)	(8,041)	(15,691)		(15,664)
Exploration costs	(62)	(92)	(117)	(154)		(978)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,106)	(3,062)	(3,102)	(6,168)		(6,781)
Other income	116	341	429	457		572
Other expense	(366)	(300)	(1,305)	(666)		(3,595)
Financial interest on debt	(724)	(710)	(572)	(1,434)		(1,034)
Financial income and expense from cash & cash equivalents	510	393	245	903		459
Cost of net debt	(214)	(317)	(327)	(531)		(575)
Other financial income	413	258	231	671		434
Other financial expense	(173)	(183)	(136)	(356)		(271)
Net income (loss) from equity affiliates	267	960	(1,546)	1,227		(1,503)
Income taxes	(2,487)	(4,071)	(5,284)	(6,558)		(10,088)
Consolidated net income	4,152	5,631	5,804	9,783	$ 10,189	10,855
TotalEnergies share	4,088	5,557	5,692	9,645		10,636
Non-controlling interests	64	$ 74	112	138		219
Adjusted
Business segment information
Sales	56,195		74,789	118,874		143,383
Excise taxes	(4,737)		(4,329)	(9,107)		(8,985)
Revenues from sales	51,458		70,460	109,767		134,398
Purchases, net of inventory variation	(33,379)		(46,023)	(70,858)		(86,785)
Other operating expenses	(7,754)		(7,620)	(15,506)		(15,029)
Exploration costs	(62)		(117)	(156)		(253)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,959)		(3,038)	(5,985)		(6,186)
Other income	116		429	193		550
Other expense	(256)		(529)	(393)		(798)
Financial interest on debt	(724)		(572)	(1,434)		(1,034)
Financial income and expense from cash & cash equivalents	402		130	775		189
Cost of net debt	(322)		(442)	(659)		(845)
Other financial income	401		231	649		350
Other financial expense	(173)		(136)	(356)		(271)
Net income (loss) from equity affiliates	662		1,944	1,741		3,805
Income taxes	(2,715)		(5,274)	(6,805)		(9,998)
Consolidated net income	5,017		9,885	11,632		18,938
TotalEnergies share	4,956		9,796	11,497		18,773
Non-controlling interests	61		89	135		165
Adjustments
Business segment information
Sales	76		(15)			(3)
Revenues from sales	76		(15)			(3)
Purchases, net of inventory variation	(485)		580	(1,357)		1,694
Other operating expenses	(152)		(421)	(185)		(635)
Exploration costs				2		(725)
Depreciation, depletion and impairment of tangible assets and mineral interests	(147)		(64)	(183)		(595)
Other income				264		22
Other expense	(110)		(776)	(273)		(2,797)
Financial income and expense from cash & cash equivalents	108		115	128		270
Cost of net debt	108		115	128		270
Other financial income	12			22		84
Net income (loss) from equity affiliates	(395)		(3,490)	(514)		(5,308)
Income taxes	228		(10)	247		(90)
Consolidated net income	(865)		(4,081)	(1,849)		(8,083)
TotalEnergies share	(868)		(4,104)	(1,852)		(8,137)
Non-controlling interests	$ 3		$ 23	$ 3		$ 54

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Business segment information - Adjustment items (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Business segment information
Operating income	$ 6,596		$ 13,742	$ 15,539	$ 25,881
Net income - TotalEnergies share	4,088	$ 5,557	5,692	9,645	10,636
Adjustments
Business segment information
Operating income	(708)		80	(1,723)	(264)
Net income - TotalEnergies share	(868)		(4,104)	(1,852)	(8,137)
Adjustments - Inventory valuation effect
Business segment information
Operating income	(252)		1,151	(754)	2,406
Net income - TotalEnergies share	(380)		993	(771)	2,033
Adjustments - Effect of changes in fair value
Business segment information
Operating income	(157)		(597)	(603)	(685)
Net income - TotalEnergies share	(111)		(551)	(545)	(631)
Adjustments - Restructuring charges
Business segment information
Operating income			(17)		(22)
Net income - TotalEnergies share	(5)		(8)	(5)	(11)
Adjustments - Asset impairment and provisions charges
Business segment information
Operating income	(155)		(60)	(200)	(1,422)
Net income - TotalEnergies share	(469)		(3,719)	(529)	(8,780)
Adjustments - Gains (losses) on disposals of assets
Business segment information
Operating income				(14)
Net income - TotalEnergies share				203
Adjustments - Other items
Business segment information
Operating income	(144)		(397)	(152)	(541)
Net income - TotalEnergies share	97		(819)	(205)	(748)
Exploration & Production
Business segment information
Operating income	4,263		8,454	10,117	16,054
Exploration & Production | Adjustments
Business segment information
Operating income	(172)		(128)	(180)	(1,412)
Net income - TotalEnergies share	65		(3,779)	(20)	(4,797)
Exploration & Production | Adjustments - Asset impairment and provisions charges
Business segment information
Operating income	(155)		(46)	(155)	(1,330)
Net income - TotalEnergies share	(123)		(3,493)	(123)	(4,525)
Exploration & Production | Adjustments - Other items
Business segment information
Operating income	(17)		(82)	(25)	(82)
Net income - TotalEnergies share	188		(286)	103	(272)
Integrated LNG
Business segment information
Operating income	724		1,421	1,862	3,262
Integrated LNG | Adjustments
Business segment information
Operating income	(324)		123	(700)	13
Net income - TotalEnergies share	(271)		(460)	(606)	(4,508)
Integrated LNG | Adjustments - Effect of changes in fair value
Business segment information
Operating income	(322)		141	(698)	31
Net income - TotalEnergies share	(286)		118	(617)	18
Integrated LNG | Adjustments - Asset impairment and provisions charges
Business segment information
Operating income			(18)		(18)
Net income - TotalEnergies share			(226)		(4,174)
Integrated LNG | Adjustments - Other items
Business segment information
Operating income	(2)			(2)
Net income - TotalEnergies share	15		(352)	11	(352)
Integrated Power
Business segment information
Operating income	534		(575)	896	(604)
Integrated Power | Adjustments
Business segment information
Operating income	137		(758)	67	(753)
Net income - TotalEnergies share	(207)		(677)	(396)	(660)
Integrated Power | Adjustments - Effect of changes in fair value
Business segment information
Operating income	165		(738)	95	(716)
Net income - TotalEnergies share	175		(669)	72	(649)
Integrated Power | Adjustments - Restructuring charges
Business segment information
Operating income			(17)		(22)
Net income - TotalEnergies share	(5)		(8)	(5)	(11)
Integrated Power | Adjustments - Asset impairment and provisions charges
Business segment information
Net income - TotalEnergies share	(346)			(346)
Integrated Power | Adjustments - Other items
Business segment information
Operating income	(28)		(3)	(28)	(15)
Net income - TotalEnergies share	(31)			(117)
Refining & Chemicals
Business segment information
Operating income	812		4,029	2,238	6,331
Refining & Chemicals | Adjustments
Business segment information
Operating income	(216)		775	(676)	1,722
Net income - TotalEnergies share	(377)		738	(840)	1,541
Refining & Chemicals | Adjustments - Inventory valuation effect
Business segment information
Operating income	(192)		775	(607)	1,722
Net income - TotalEnergies share	(333)		738	(658)	1,573
Refining & Chemicals | Adjustments - Asset impairment and provisions charges
Business segment information
Operating income				(45)
Net income - TotalEnergies share				(60)
Refining & Chemicals | Adjustments - Other items
Business segment information
Operating income	(24)			(24)
Net income - TotalEnergies share	(44)			(122)	(32)
Marketing & Services
Business segment information
Operating income	494		929	776	1,624
Marketing & Services | Adjustments
Business segment information
Operating income	(76)		369	(177)	608
Net income - TotalEnergies share	(55)		247	69	380
Marketing & Services | Adjustments - Inventory valuation effect
Business segment information
Operating income	(60)		376	(147)	684
Net income - TotalEnergies share	(47)		255	(113)	460
Marketing & Services | Adjustments - Asset impairment and provisions charges
Business segment information
Operating income			4		(65)
Net income - TotalEnergies share					(72)
Marketing & Services | Adjustments - Gains (losses) on disposals of assets
Business segment information
Operating income				(14)
Net income - TotalEnergies share				203
Marketing & Services | Adjustments - Other items
Business segment information
Operating income	(16)		(11)	(16)	(11)
Net income - TotalEnergies share	(8)		(8)	(21)	(8)
Corporate
Business segment information
Operating income	(231)		(516)	(350)	(786)
Corporate | Adjustments
Business segment information
Operating income	(57)		(301)	(57)	(442)
Net income - TotalEnergies share	(23)		(173)	(59)	(93)
Corporate | Adjustments - Asset impairment and provisions charges
Business segment information
Operating income					(9)
Net income - TotalEnergies share					(9)
Corporate | Adjustments - Other items
Business segment information
Operating income	(57)		(301)	(57)	(433)
Net income - TotalEnergies share	$ (23)		$ (173)	$ (59)	$ (84)

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Shareholders' equity - Treasury shares (Details) - TotalEnergies SE - shares	Jun. 30, 2023	Dec. 31, 2022
Shareholders' equity
Number of treasury shares	68,505,002	137,187,667
Percentage of share capital represented by treasury shares	2.74%	5.24%
Shares acquired with the intention to cancel them	65,043,639	128,869,261
TotalEnergies share performance plans
Shareholders' equity
Shares allocated or intended to be allocated to share-based payment plans	3,362,143	8,231,365
New share performance or purchase options plans
Shareholders' equity
Shares allocated or intended to be allocated to share-based payment plans	99,220	87,041

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Shareholders' equity - Dividend (Details) - € / shares	Jul. 26, 2023	Jul. 03, 2023	May 26, 2023	Apr. 26, 2023	Apr. 03, 2023	Jan. 12, 2023	Dec. 16, 2022	Oct. 03, 2022
Dividend
Dividend approved for the 2022 fiscal year (in Euros per share)			€ 2.81
Special interim dividend for 2022 (in Euros per share)			1
Ordinary dividend plus special dividend for 2022 (in Euros per share)			€ 3.81
First interim
Dividend
Dividend paid (in Euros per share)								€ 0.69
Interim dividend set by Board of Directors (in Euros per share)				€ 0.74
Second interim
Dividend
Dividend paid (in Euros per share)						€ 0.69
Interim dividend set by Board of Directors (in Euros per share)	€ 0.74
Third interim
Dividend
Dividend paid (in Euros per share)					€ 0.69
Final
Dividend
Dividend paid (in Euros per share)		€ 0.74
Special interim dividend
Dividend
Dividend paid (in Euros per share)							€ 1

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Shareholders' equity - Earnings per share (Details)	3 Months Ended						6 Months Ended
	Jun. 30, 2023 $ / shares	Jun. 30, 2023 € / shares	Mar. 31, 2023 $ / shares	Mar. 31, 2023 € / shares	Jun. 30, 2022 $ / shares	Jun. 30, 2022 € / shares	Jun. 30, 2023 $ / shares	Jun. 30, 2022 $ / shares
Earnings per share in euros
Basic earnings per share (in dollars or Euros per share) | (per share)	$ 1.65	€ 1.51	$ 2.23	€ 2.08	$ 2.18	€ 2.03	$ 3.88	$ 4.04
Diluted earnings per share (in dollars or Euros per share) | (per share)	$ 1.64	€ 1.51	$ 2.21	€ 2.06	$ 2.16	€ 2.03	$ 3.86	$ 4.02

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Shareholders' equity - Perpetual subordinated notes (Details) - Subordinated note, 2.708%, perpetual maturity callable after 6.6 years € in Millions	May 05, 2023 EUR (€)
Shareholders' equity
Reimbursement of nominal amount	€ 1,000
Interest rate (as percent)	2.708%

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Shareholders' equity - Other comprehensive income (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Shareholders' equity
Actuarial gains and losses	$ 135	$ 3	$ 204	$ 138		$ 204
Change in fair value of investments in equity instruments	(1)	4	(20)	3		(17)
Tax effect	(43)	(8)	(53)	(51)		(42)
Currency translation adjustment generated by the parent company	(57)	1,466	(5,387)	1,409		(7,137)
Items not potentially reclassifiable to profit and loss	34	1,465	(5,256)	1,499		(6,992)
Currency translation adjustment	(49)	(1,250)	2,523	(1,299)		3,535
Unrealized gain/(loss) of the period				(1,381)		3,532
Less gain/(loss) included in net income				(82)		(3)
Cash flow hedge	689	1,202	3,222	1,891		2,959
Unrealized gain/(loss) of the period				1,699		2,901
Less gain/(loss) included in net income				(192)		(58)
Variation of foreign currency basis spread	11	(3)	21	8		70
unrealized gain/(loss) of the period				(8)		49
less gain/(loss) included in net income				(16)		(21)
Share of other comprehensive income of equity affiliates, net amount	3	(98)	2,548	(95)		2,464
Unrealized gain/(loss) of the period				(84)		2,427
Less gain/(loss) included in net income				11		(37)
Other	(4)	3	(1)	(1)		(1)
Tax effect	(136)	(336)	(1,112)	(472)		(1,059)
Sub-total items potentially reclassifiable to profit and loss	514	(482)	7,201	32		7,968
Total other comprehensive income (net amount)	$ 548	$ 983	$ 1,945	$ 1,531	$ (4,085)	$ 976

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Shareholders' equity - Tax effects of other comprehensive income (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Pre-tax amount
Actuarial gains and losses	$ 135	$ 3	$ 204	$ 138		$ 204
Change in fair value of investments in equity instruments	(1)	4	(20)	3		(17)
Currency translation adjustment generated by the parent company				1,409		(7,137)
Sub-total items not potentially reclassifiable to profit & loss				1,550		(6,950)
Currency translation adjustment	(49)	(1,250)	2,523	(1,299)		3,535
Cash flow hedge	689	1,202	3,222	1,891		2,959
Variation of foreign currency basis spread	11	(3)	21	8		70
Share of other comprehensive income of equity affiliates, net amount				(95)		2,464
Other	(4)	3	(1)	(1)		(1)
Sub-total items potentially reclassifiable to profit & loss				504		9,027
Total other comprehensive income				2,054		2,077
Tax effect
Actuarial gains and losses				(50)		(53)
Change in fair value of investments in equity instruments				(1)		11
Sub-total items not potentially reclassifiable to profit and loss	(43)	(8)	(53)	(51)		(42)
Cash flow hedge				(470)		(1,041)
Variation of foreign currency basis spread				(2)		(18)
Sub-total items potential reclassifiable to profit and loss	(136)	(336)	(1,112)	(472)		(1,059)
Total other comprehensive income				(523)		(1,101)
Net amount
Actuarial gains and losses				88		151
Change in fair value of investments in equity instruments				2		(6)
Currency translation adjustment generated by the parent company	(57)	1,466	(5,387)	1,409		(7,137)
Items not potentially reclassifiable to profit and loss	34	1,465	(5,256)	1,499		(6,992)
Currency translation adjustment				(1,299)		3,535
Cash flow hedge				1,421		1,918
Variation of foreign currency basis spread				6		52
Share of other comprehensive income of equity affiliates, net amount	3	(98)	2,548	(95)		2,464
Other				(1)		(1)
Items potentially reclassifiable to profit and loss	514	(482)	7,201	32		7,968
Total other comprehensive income (net amount)	$ 548	$ 983	$ 1,945	$ 1,531	$ (4,085)	$ 976

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Financial debt (Details) € in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)
Bond 2.700% issued in 2012 and maturing in January 2023 | TotalEnergies Capital International
Financial debt
Interest rate (as percent)	2.70%	2.70%
Amount of bonds reimbursed | $	$ 1,000
Bond 2.125% issued in 2012, tapped in 2013 and maturing in March 2023 | TotalEnergies Capital International
Financial debt
Interest rate (as percent)	2.125%	2.125%
Amount of bonds reimbursed		€ 750
Bond 2.125% issued in 2012, tapped in 2013 and maturing in March 2023, original part | TotalEnergies Capital International
Financial debt
Amount of bonds reimbursed		500
Bond 2.125% issued in 2012, tapped in 2013 and maturing in March 2023, tapped part | TotalEnergies Capital International
Financial debt
Amount of bonds reimbursed		€ 250
Syndicated credit line
Financial debt
Committed credit facilities granted by banks | $			$ 0	$ 8,000

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Other risks and contingent liabilities (Details)			6 Months Ended	252 Months Ended
	Jul. 04, 2023 shareholder	Jun. 30, 2023	Jun. 30, 2023 subsidiary item	Dec. 31, 2040
Disputes relating to Climate | United States
Disclosure of contingent liabilities
Number of subsidiaries summoned for liability in climate change | subsidiary			1
Number of litigations in which Corporation and subsidiaries were summoned | item			1
Dispute relating to completion of Vigilance Plan | France
Disclosure of contingent liabilities
Percentage of reduction in net direct and indirect CO2 emissions, per injunction sought after by certain associations and local communities before Court of Justice				40.00%
Dispute relating to annulment of resolution no.3 passed by Annual Shareholders' Meeting on May 26, 2023 | France
Disclosure of contingent liabilities
Number of shareholders seeking annulment of resolution no.3 passed by Annual Shareholders’ Meeting on May 26, 2023	9
Number of shareholder companies seeking annulment of resolution no.3 passed by Annual Shareholders’ Meeting on May 26, 2023	2
Number of shareholder individuals seeking annulment of resolution no.3 passed by Annual Shareholders’ Meeting on May 26, 2023	7
Yemen LNG Company Limited
Disclosure of contingent liabilities
Stake held in associate (as a percent)		39.62%

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Subsequent events (Details) $ in Millions, € in Billions			3 Months Ended			6 Months Ended
	Jul. 24, 2023 EUR (€)	Jun. 30, 2023	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Subsequent events
Net investment for acquisition of shares | $			$ 19	$ 136	$ 82	$ 155	$ 82
Total Eren Holding
Subsequent events
Interest held (as a percent)		33.86%
Total Eren SA
Subsequent events
Interest held (as a percent)		5.73%
Acquisition of shares | Total Eren Holding and Total Eren SA
Subsequent events
Net investment for acquisition of shares | €	€ 1.5