0001193125-20-260408.txt : 20201001 0001193125-20-260408.hdr.sgml : 20201001 20201001062459 ACCESSION NUMBER: 0001193125-20-260408 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 20 CONFORMED PERIOD OF REPORT: 20201001 FILED AS OF DATE: 20201001 DATE AS OF CHANGE: 20201001 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOTAL SE CENTRAL INDEX KEY: 0000879764 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 000000000 STATE OF INCORPORATION: I0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10888 FILM NUMBER: 201214216 BUSINESS ADDRESS: STREET 1: 2 PLACE JEAN MILLIER STREET 2: LA DEFENSE 6 CITY: COURBEVOIE STATE: I0 ZIP: 92400 BUSINESS PHONE: 33147444546 MAIL ADDRESS: STREET 1: 2 PLACE JEAN MILLIER STREET 2: ARCHE NORD COUPOLE/REGNAULT CITY: PARIS LA DEFENSE CEDEX STATE: I0 ZIP: 92078 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL S.A. DATE OF NAME CHANGE: 20121204 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL SA DATE OF NAME CHANGE: 20030508 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL FINA ELF SA DATE OF NAME CHANGE: 20001010 6-K 1 d46772d6k.htm 6-K 6-K
Table of Contents

 

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

October 1, 2020

Commission File Number 001-10888

 

 

TOTAL 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.

 

 

TOTAL SE is providing on this Form 6-K a description of certain recent developments relating to its business.


Table of Contents

TABLE OF CONTENTS

SIGNATURES

EXHIBIT INDEX

 

Exhibit 99.1   

Groupe PSA and Total create “Automotive Cells Company”, a joint venture dedicated to the manufacture of batteries in Europe (September 3, 2020)

Exhibit 99.2   

Brazil : Total Resigns From its Role of Operator in the Foz Do Amazonas Basin (September 7, 2020)

Exhibit 99.3   

U.S. Department of Energy’s National Energy Technology Laboratory Announces Investment to Further Develop LH CO2MENT Colorado Project, Carbon Capture Technology (September 17, 2020)

Exhibit 99.4   

Energy Transition: Total Is Investing More Than 500 Million To Convert Its Grandpuits Refinery Into a Zero-Crude Platform for Biofuels and Bioplastics (September 24, 2020)

Exhibit 99.5   

Renewables: Total strengthens its position in the Spanish solar market and covers all its power needs in Europe with green energy (September 25, 2020)

Exhibit 99.6   

Brazil: Total Exits the Foz Do Amazonas Basin (September 28, 2020)

Exhibit 99.7   

United Kingdom: Total Acquires London’s Largest Electric Vehicle Charge Points Network (September 29, 2020)

Exhibit 99.8   

Total Extends its Biodiversity Ambition To Coincide With the Preparation of the United Nations Plan for Biodiversity (September 29, 2020)

Exhibit 99.9   

2020 Strategy & Outlook Presentation (September 30, 2020)


Table of Contents

EXHIBIT INDEX

 

Exhibit 99.1   

Groupe PSA and Total create “Automotive Cells Company”, a joint venture dedicated to the manufacture of batteries in Europe (September 3, 2020)

Exhibit 99.2   

Brazil : Total Resigns From its Role of Operator in the Foz Do Amazonas Basin (September 7, 2020)

Exhibit 99.3   

U.S. Department of Energy’s National Energy Technology Laboratory Announces Investment to Further Develop LH CO2MENT Colorado Project, Carbon Capture Technology (September 17, 2020)

Exhibit 99.4   

Energy Transition: Total Is Investing More Than 500 Million To Convert Its Grandpuits Refinery Into a Zero-Crude Platform for Biofuels and Bioplastics (September 24, 2020)

Exhibit 99.5   

Renewables: Total strengthens its position in the Spanish solar market and covers all its power needs in Europe with green energy (September 25, 2020)

Exhibit 99.6   

Brazil: Total Exits the Foz Do Amazonas Basin (September 28, 2020)

Exhibit 99.7   

United Kingdom: Total Acquires London’s Largest Electric Vehicle Charge Points Network (September 29, 2020)

Exhibit 99.8   

Total Extends its Biodiversity Ambition To Coincide With the Preparation of the United Nations Plan for Biodiversity (September 29, 2020)

Exhibit 99.9   

2020 Strategy & Outlook Presentation (September 30, 2020)


Table of Contents

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.

 

            

TOTAL SE

 

Date: October 1, 2020     By:  

/s/ ANTOINE LARENAUDIE

      Name:       Antoine LARENAUDIE
      Title:       Group Treasurer
EX-99.1 2 d46772dex991.htm EX-99.1 EX-99.1

EXHIBIT 99.1

 

LOGO    LOGO

Press Release

Groupe PSA and Total create “Automotive Cells Company”, a joint venture dedicated to the manufacture of batteries in Europe.

Paris, September 3rd, 2020

 

   

The creation of ACC1 marks the birth of a major player in battery production in Europe.

   

Yann Vincent has been appointed Chief Executive and Ghislain Lescuyer Chairman of the Board of the joint venture.

   

This ambitious project, announced in January 2020, pools the expertise of each partner to develop and produce batteries with the highest level of performance worldwide.

   

ACC benefits from the support of the French and German authorities, as well as the European institutions, to accompany the energy transition of mobility.

Groupe PSA/Opel and Total/Saft have signed an agreement for the creation of the joint venture ACC. Yann Vincent has been appointed Chief Executive in order to implement and develop it. Ghislain Lescuyer has been appointed Chairman of the Board.

With this partnership, the parties are setting up a world-class player in the development and manufacture of high-performance batteries for the automotive industry from 2023.

Total/Saft will contribute its expertise in R&D and industrialization, and Groupe PSA its knowledge of the automotive market and its experience in production. The R&D centre in Bordeaux and the pilot site in Nersac (France) have already started in order to develop the new high-performance lithium-ion technologies. At the end of this R&D phase, mass production could be launched in two “gigafactories”, in Douvrin (France) and Kaiserslautern (Germany).

This project aims to:

 

 

Respond to the challenges of the energy transition by reducing the environmental footprint of vehicles throughout the value chain in a desire to offer clean and affordable mobility to citizens.

 

Produce batteries for electric vehicles that will be at the highest technological level in terms of energy performance, autonomy, recharging time and carbon footprint.

 

Develop production capacity, essential to accompany the growth demand for electric vehicles in a European market estimated at 400 GWh by 2030, i.e. 15 times the current market.

 

Ensure industrial independence in Europe for the conception and manufacture of batteries, with an initial capacity of 8 GWh, reaching a cumulative capacity of 48 GWh

 

1 ACC : Automotive Cells Company


 

on both sites by 2030. It will represent 1 million electric vehicles produced per year, i.e. more than 10% of the European market.

 

Position ACC as a major competitive player in supplying electric vehicle manufacturers.

This project benefits from the financial support of French and German public authorities representing 1.3 billion. It received the European institutions agreement through an IPCEI project that testifies to the strategic importance of mobility for the energy transition. The whole project will mobilize an investment more than 5 billion investment.

Carlos Tavares, Chairman of Groupe PSA: «The construction of the European battery consortium that we wished for is now a reality. I would like to pay special tribute to the commitment of the Total/Saft and Groupe PSA/Opel teams who have made this project come true. This new step is consistent with our central purpose: “to offer citizens clean, safe and affordable mobility” and gives Groupe PSA a competitive advantage in the context of growing sales of electric vehicles. ACC takes Groupe PSA further along the road to carbon neutrality».

Patrick Pouyanné, Chairman of Total comments:The creation of ACC illustrates Total’s commitment to meet the challenge of climate change and to develop as a broad energy company, a major player in the energy transition, by continuing to provide affordable, reliable, and cleaner energy. Our ambition is to leverage the recognized expertise of our subsidiary SAFT in batteries and the industrial know-how of our partner PSA to meet the strong growth of electric vehicles in Europe. I would like to offer my encouragement to the teams who will be joining ACC to make this adventure a real European technological and industrial success”.

About Groupe PSA

Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia..

Media library: medialibrary.groupe-psa.com / LOGO @GroupePSA_EN

About Total

Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

About Saft

Saft specializes in advanced technology battery solutions for industry, from design and development to production, customization and service provision. For 100 years, Saft’s longer-lasting batteries and systems have provided critical safety applications, back-up


power and propulsion for our customers. Our innovative, safe and reliable technology delivers high performance on land, at sea, in the air and in space. Saft is powering industry and smarter cities, while providing critical back-up functionality in remote and harsh environments from the Arctic Circle to the Sahara Desert. Saft is a wholly-owned subsidiary of Total, a major energy player that produces and markets fuels, natural gas and low-carbon electricity.

LOGO LOGO LOGO LOGO

* * * * *

Contacts :

Groupe PSA :

  ·  

Claudia Raynaud – +33 6 61 64 03 83 – claudia.lefevre@mpsa.com

  ·  

Alain le Gouguec – +33 6 42 59 27 84 – alain.legouguec@mpsa.com

Saft :

 

  ·  

Relations Médias – +33 1 58 63 16 60 – karen.hollington@saftbatteries.com

Total :

 

  ·  

Relations presse – +33 (0)1 47 44 46 99 – presse@total.com@TotalPress

  ·  

Relations Investisseurs – +44 (0)207 719 7962 – ir@total.com

Cautionary note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

EX-99.2 3 d46772dex992.htm EX-99.2 EX-99.2

EXHIBIT 99.2

 

LOGO

Press Release    

Brazil : Total Resigns From its Role of Operator

in the Foz Do Amazonas Basin

Paris, September 7, 2020 – Total announces that it has notified its partners on August 19 about its resignation from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin, 120 kilometers offshore Brazil. These exploration blocks are referenced as FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127.

Total has informed the National Agency of Petroleum, Natural Gas and Biofuels (ANP) of this decision, that opens a period of 6-months during which a new operator will be appointed and to whom the operated activities will be handed over. During this period, Total has the duty to continue monitoring all regulatory processes on behalf of its partners Petrobras and BP.


Total in Brazil

Total has been present in Brazil for over 40 years and has more than 3,000 employees in the country. The Group operates in all segments: exploration and production, gas, renewable energies, lubricants, chemicals, and distribution.

Total Exploration & Production’s portfolio currently includes 24 blocks, with 10 operated. In 2019, the Group’s production in the country averaged 16,000 barrels of oil per day. In October 2019, a consortium led by Total was awarded Block C-M-541, located in the Campos Basin, in the 16th Bidding Round held by Brazil’s National Petroleum Agency (ANP).

In 2017, Total and Petrobras formed a Strategic Alliance encompassing exploration and production and gas, renewables and power activities. Through the Alliance, the two groups are implementing R&D projects on topics such as artificial intelligence leading to efficiency gains, with direct applications in Brazil. Total entered the fuel distribution market in Brazil with the acquisition in December 2018 of Grupo Zema’s distribution activities. Total thus owns a network of 280 service stations, as well as several storage facilities for petroleum products and ethanol.

About Total

Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

* * * * *

Total Contacts

Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com

Cautionary Note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

EX-99.3 4 d46772dex993.htm EX-99.3 EX-99.3

EXHIBIT 99.3

 

LOGO

U.S. Department of Energy’s National Energy Technology Laboratory Announces Investment to Further Develop

LH CO2MENT Colorado Project, Carbon Capture Technology

Next phase of project feasibility study to commence, will develop facility design to support capture, use and storage of 2 million tonnes of carbon dioxide annually

Chicago/Houston/Vancouver/Paris, September 17, 2020 – On September 1, the United States Department of Energy’s National Energy Technology Laboratory (DOE-NETL) awarded $1.5 million in federal funding for cost-shared research and development to support the initial engineering analysis and advancement of the LH CO2MENT Colorado Project, which was the subject of a scoping study launched earlier this year. The commercial-scale carbon-capture project, based in Florence, Colorado, is a partnership of Svante Inc., LafargeHolcim, Kiewit Engineering Group Inc., Oxy Low Carbon Ventures, LLC (OLCV), a wholly-owned subsidiary of Occidental, and Total.

With the successful completion of the initial scoping study in June 2020 and confirmation of DOE funding, the partnership has committed to the next project phase to evaluate the feasibility of the facility designed to capture up to 2 million tonnes of carbon dioxide per year directly from the Holcim cement plant and the natural gas-fired steam generator, which would be sequestered underground permanently by Occidental.

Oxy Low Carbon Ventures is leveraging Occidental’s 40 years of experience in securely storing CO2 in geologic formations to advance permanent sequestration as a solution that supports global emissions reduction efforts through carbon retirement,” said Oxy Low Carbon Ventures President Richard Jackson. “This partnership is a powerful example of how cross-industry collaboration can help progress carbon capture, utilization and storage projects that will be critical to accelerating the transition to a lower-carbon world.

The carbon-capture facility under review will employ Svante’s solid sorbent technology to capture carbon directly from the cement kiln as a non-intrusive “end-of-the-pipe’’ solution.

We have been very vocal about the importance we place on finding and accelerating global solutions to reduce our carbon footprint,” said Jamie Gentoso, CEO, U.S. Cement for LafargeHolcim. “Effective and efficient large scale carbon capture technology will be a profound advancement for many industries. This U.S. DOE grant is a significant step in advancing this first-of-its-kind, large-scale technology, and we’re proud to partner with Svante, Oxy Low Carbon Ventures and Total to bring it to life.”

This project along with the U.S. DOE funding is an important external validation that we are becoming a significant global technology provider in carbon capture space across a range of large-scale industrial applications like cement and blue hydrogen” said Claude Letourneau, president and CEO of Svante Inc.

Total brings its experience in this new phase of feasibility to support the development of Svante’s promising CO2 capture technology. Together with our industrial partners and thanks to public-private initiative, we aim at accelerating the deployment, at scale, of innovative and cost-efficient technologies, contributing to decarbonize industry and curb CO2 emissions“, said Marie-Noëlle Semeria, senior vice president, Group CTO at Total.


Electricore, Inc. will facilitate management of the federal grant, and Kiewit Engineering Group Inc. will lead the engineering development. This joint initiative follows the recently-launched Pilot Plant Project CO2MENT between Svante, LafargeHolcim and Total in Canada at the Lafarge Richmond cement plant, where progress has been made towards re-injecting captured CO2 into concrete.

###

About Total

Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major. www.total.com

About Oxy Low Carbon Ventures

Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental an international energy company with operations in the United States, Middle East, Africa and Latin America. OLCV is advancing cutting-edge, low-carbon technologies and business solutions that economically and sustainably grow our business while reducing emissions. OLCV is also progressing the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally.

About LafargeHolcim

LafargeHolcim is the global leader in building materials and solutions and active in four business segments: Cement, Aggregates, Ready-Mix Concrete and Solutions & Products. Its ambition is to lead the industry in reducing carbon emissions and shifting towards low-carbon construction. With the strongest R&D organization in the industry, the company seeks to constantly introduce and promote high-quality and sustainable building materials and solutions to its customers worldwide - whether individual homebuilders or developers of major infrastructure projects. In the United States, LafargeHolcim companies include close to 350 sites in 43 states and employ 7,000 people. Our customers rely on us to help them design and build better communities with innovative solutions that deliver structural integrity and eco-efficiency.

About Svante

Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be recycled for further industrial use in a closed loop. With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu; CEO of OGCI Climate Investments Pratima Rangarajan; and Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website. You can also connect with us on LinkedIn or Twitter @svantesolutions.

 

Svante

 

Julia McKenna (Media)

 

jmckenna@svanteinc.com

 

+1 (778) 985 5722

  

LafargeHolcim

 

Jocelyn Gerst

 

Jocelyn.Gerst@lafargeholcim.com

 

+1 (773) 355 4701

Oxy Low Carbon Ventures

 

Merritt Talbott (Media)

 

Merritt_Talbott@oxy.com

 

+1 (713) 552 8676

  

Total

 

Media Relations:

 

presse@total.com l +33 1 47 44 46 99

 

Investor Relations:

 

ir@total.com l +44 (0)207 719 79 62


Cautionary Note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

EX-99.4 5 d46772dex994.htm EX-99.4 EX-99.4

EXHIBIT 99.4

 

LOGO

Press Release

Energy Transition: Total Is Investing More Than €500 Million To Convert Its Grandpuits Refinery Into a Zero-Crude Platform

for Biofuels and Bioplastics

Paris — September 24, 2020 — Within the framework of its net zero strategy, Total will convert its Grandpuits refinery (Seine-et-Marne) into a zero-crude platform. By 2024, following an investment totaling more than 500 million, the platform will focus on four new industrial activities:

 

 

Production of renewable diesel primarily intended for the aviation industry.

 

Production of bioplastics.

 

Plastics recycling.

 

Operation of two photovoltaic solar power plants.

Meanwhile, crude oil refining at the platform will be discontinued in the first quarter of 2021 and storage of petroleum products will end in late 2023. Operations at service stations and airports in the Greater Paris region will not be affected: they will be supplied by the refineries at Donges—currently undergoing a 450 million modernization—and Normandy.

This decision to end its oil refining comes in the wake of an audit conducted over several months on the 260-kilometer Ile-de-France pipeline (PLIF), which carries crude oil from the Port of Le Havre to the Grandpuits refinery.

The refinery was forced to shut down for more than five months in 2019 when a leak appeared on the PLIF, following an earlier leak near Le Havre in 2014. With the approval of government officials, the PLIF’s maximum working pressure was reduced to ensure safe operation. As a result, the refinery could operate at only 70% of its capacity, threatening its long-term financial viability.

The audit found that normal operations at the refinery could be restored only by replacing the PLIF, at a cost of nearly 600 million. Given France’s plans for the energy transition up to 2040, therefore, Total has decided to end its oil refining at Grandpuits and embark on an industrial transformation of the site, backed by a major investment plan.

With the industrial repurposing of the Grandpuits refinery into a zero-crude platform focused on energies of the future connected with biomass and the circular economy, Total is demonstrating its commitment to the energy transition and reaffirming its ambition to achieve carbon neutrality in Europe by 2050,” says Bernard Pinatel, President of Total Refining & Chemicals. Grandpuits will remain a major industrial site drawing on the know-how and expertise of its teams, and our partner firms will be playing a key role as well.”


A responsible industrial redeployment with no layoffs

Total will carry out this industrial redeployment with no layoffs, with early retirements and internal mobility within the Group’ sites, providing each employee with an appropriate solution.

Of the 400 jobs at the Grandpuits platform and its associated Gargenville (Yvelines) depot today, 250 will be maintained after the conversion. Furthermore, 15 additional jobs will be created on the Grandpuits site in a packaging unit connected to the bioplastics unit.

In addition, the work projects generated by this industrial investment of more than 500 million will create up to 1,000 jobs over the three-year period for construction of the new units.

Total has also carried out a thorough review of the partner companies working on the platform, which amount to the equivalent of 300 full-time jobs. The Group is committed to supporting each partner company during the industrial repurposing of the site. In its new configuration, the Grandpuits platform will continue to prioritize its partner businesses, which will represent the equivalent of 200 full-time jobs.

Total will, of course, comply with all of its contractual commitments to its customers.

Total and the Ile-de-France region intend to launch a campaign to attract other industries to the property made available at the Grandpuits site and on industrial estates near the Grandpuits and Gargenville sites.

Three Innovative Industrial Projects Amounting

to Investments of More Than €500 Million

The Grandpuits facility will become a model zero-crude platform in France, boasting three new industrial units:

 

   

A bio-refinery: Total will construct a renewable diesel unit, primarily producing for the aviation industry. This initiative will contribute to France’s roadmap for deploying sustainable aviation fuel, which calls for an incorporation target into aviation fuel of 2% by 2025 and 5% by 2030.

The new unit, to be commissioned in 2024, will be able to process 400,000 tons per year, with potential annual production of:

 

170,000 tons of sustainable aviation fuel.

 

120,000 tons of renewable diesel.

 

50,000 tons of renewable naphtha, used to produce bioplastics.

The unit will process primarily animal fats from Europe and used cooking oil, supplemented with other vegetable oils like rapeseed (but excluding palm oil). Total will prioritize local suppliers.

Biofuels that reduce carbon emissions by at least 50% compared to their fossil equivalents are one component of Total’s strategy for meeting the challenge of carbon neutrality.

 

   

A bioplastics plant: Total Corbion PLA, a 50/50 joint venture between Total and Corbion, will be constructing Europe’s first PLA manufacturing plant.

Entirely produced from sugar instead of oil, PLA is a bioplastic that is biodegradable and recyclable. The market for PLA is growing up to 15% annually. Demand is rising


fast, particularly in the markets for film wrap and rigid packaging and in numerous industrial applications.

Partners since 2017 in the Total Corbion PLA 50/50 joint venture, Total and Corbion successfully launched their first PLA plant in Thailand in 2018 and have decided to invest in a new European plant. Promising annual production capacity of 100,000 tons, this second plant will begin operations in 2024, making Total Corbion PLA the world’s biggest producer of PLA.

 

   

A plastics recycling plant: Total will be constructing France’s first chemical recycling plant with Plastic Energy (Total 60%, Plastic Energy 40%).

Based on a new innovative recycling technology, this plant will convert plastic wastes into a liquid called TACOIL through a pyrolysis melting process. This TACOIL will then be used as feedstock for the production of polymers with identical properties to virgin polymers. In particular, they will be suitable for use in food-grade applications—a major criterion for food packaging businesses.

The new unit will help Total meet its objective of producing 30% of its polymers from recycled materials by 2030.

 

   

In addition, Total will be building two photovoltaic solar plants, one with capacity of 28 MWp (at the Grandpuits site) and the other with capacity of 24 MWp (at the Gargenville site), which will contribute to Total’s ambition to provide green electricity to all its industrial sites in Europe.

The plants will be built and operated by Total Quadran, a wholly-owned Total affiliate that specializes in renewable energy development and production in France.

Under French law, the project is subject to the process for notifying and consulting employee representatives.

Total is committed to pursuing meaningful dialogue with employee representative organizations, and will be initiating discussions with those bodies in late September.

***


About Total

Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

* * * * *

Total Contacts

Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com

Cautionary Note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE. directly or indirectly owns investments are separate legal entities. TOTAL SE. has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

EX-99.5 6 d46772dex995.htm EX-99.5 EX-99.5

EXHIBIT 99.5

 

LOGO

Press Release

Renewables: Total strengthens its position in the Spanish solar market

and covers all its power electricity in Europe with green energy

Paris, September 25, 2020 – Total is strengthening its presence in the Spanish electricity market through an agreement with the Spanish developer Ignis to develop 3.3 gigawatts (GW) of solar projects located close to Madrid and Andalusia. The first projects in the Ignis portfolio are scheduled to start in 2022, with the ambition of bringing them all into production by 2025. Remuneration will be paid by Total to Ignis as the projects develop.

This transaction follows the two agreements signed in February 2020 with Powertis and Solarbay Renewable Energy to develop nearly 2 GW of solar projects; and the acquisition last May from Energias de Portugal of its portfolio of 2.5 million residential customers and two gas-fired combined cycle power plants (850 MW).

 

   

This operation brings to more than 5 GW its portfolio of solar projects under development in Spain by 2025 and positions the Group as a major player in the country’s energy transition, contributing to Spain’s ambition to generate 70% of its electricity from renewables by 2030 and then 100% by the middle of the century.

 

   

This solar power portfolio will enable the Group to cover all the electricity consumption of its industrial sites in Europe by 2025: to do this, the Group will purchase nearly 6 TWh per year of green electricity generated by its Spanish solar sites through a power purchase agreement covering more than 3 GW of solar farms. This will be the largest corporate PPA in the world. Thanks to its electricity trading capabilities, the Group will thus be able to supply all its European sites with competitive green electricity, in line with its objective of carbon neutrality. Scope 2 greenhouse gas emissions will thus be reduced by almost 2 million tonnes per year.

“Total is becoming one of the main broad-energy players in the country by intervening both in the production of renewable and gas-based electricity and in the distribution of gas and electricity. Our ambition, first and foremost, is to provide a clean, affordable electricity offering to our residential customers in Spain. Spain is a priority country for Total in Europe and we fully intend to leverage the market’s growth opportunities that the country offers to respond concretely to the challenges of the energy transition towards carbon neutrality.,” said Patrick Pouyanné, Chairman and CEO of Total. “This decision to invest massively in renewable electricity capacity to supply all our industrial operations in Europe with green energy is concrete proof of our decision to move towards decarbonising our European operations in line with our new climate ambition. It also demonstrates the value of integrating production, trading and sales in the electricity chain.”


LOGO

Total and Low-Carbon Electricity

As part of its ambition to become the responsible energy major, Total is building a portfolio of low-carbon electricity operations, with the objective of seeing them account for 40% of its sales mix by 2050. Today, Total’s gross low-carbon power generation capacity is close to 9 gigawatts, of which more than 5 gigawatts from renewable energy sources. In pursuit of its ambition to increase this figure fivefold by 2025, Total intends to continue developing its activities to become one of the leading players in renewable energies worldwide.

* * * * *

About Total

Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major

Total contacts

Medias Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com


Cautionary Note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

EX-99.6 7 d46772dex996.htm EX-99.6 EX-99.6

EXHIBIT 99.6

 

LOGO

Press Release

Brazil: Total Exits the Foz Do Amazonas Basin

Paris, September 28, 2020 – Total announces that it has reached an agreement on September 24th, 2020 to transfer to Petrobras its equity interest in five exploration blocks in the Foz do Amazonas Basin, located 120 kilometers offshore Brazil. These blocks are referenced as FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127.

The closing of the transaction is subject to the preemption rights of partners in the blocks and standard regulatory approvals.

About Total in Brazil

Total has been present in Brazil for over 40 years and has more than 3,000 employees in the country. The Group operates in all segments: exploration and production, gas, renewable energies, lubricants, chemicals, and distribution.

In 2019, the Group’s production in the country averaged 16,000 barrels of oil per day. In October 2019, a consortium led by Total was awarded Block C-M-541, located in the Campos Basin, in the 16th Bidding Round held by Brazil’s National Petroleum Agency (ANP).

In 2017, Total and Petrobras formed a Strategic Alliance encompassing exploration and production and gas, renewables and power activities. Through the Alliance, the two groups are implementing R&D projects on topics such as artificial intelligence leading to efficiency gains, with direct applications in Brazil. Total entered the fuel distribution market in Brazil with the acquisition in December 2018 of Grupo Zema’s distribution activities. Total thus owns a network of 280 service stations, as well as several storage facilities for petroleum products and ethanol.

About Total

Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

* * * * *

Total Contacts

Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com


Cautionary Note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

EX-99.7 8 d46772dex997.htm EX-99.7 EX-99.7

EXHIBIT 99.7

LOGO

Press Release

United Kingdom: Total Acquires London’s Largest

Electric Vehicle Charge Points Network

London, September 29, 2020 – Total has signed the acquisition of ‘Blue Point London’ from the Bolloré Group. With this transaction, Total is taking over the management and operation of Source London, the largest electric vehicle charging network citywide, which includes more than 1,600 on-street charge points.

Launched in 2010, the current Source London network has been developed in cooperation with the London Boroughs and currently represents more than half of the charge points in operation in the capital city. Source London growth perspectives are supported by the City of London’s ambition to be a zero carbon city by 2050, notably with the aim of increasing tenfold the number of charge points within five years.

Total is also committed to powering this charging network with electricity 100% guaranteed from renewable sources, to be supplied by its subsidiary Total Gas & Power Limited.

Already active in the installation and operation of charge points networks in the Metropolitan Region Amsterdam (Netherlands) and the Brussels-Capital Region (Belgium), this acquisition in the United Kingdom reinforces Total’s position as a key player in electric mobility in Europe. The Group is thereby pursuing its development in major European cities, in line with its ambition of operating more than 150,000 electric vehicle charge points by 2025.

By combining today these existing infrastructures with Total’s know-how in terms of installation, operation and management of public electric vehicle charging networks, we are starting a new phase, supporting the expansion of electric mobility in London.” said Alexis Vovk, President, Marketing & Services at Total. “In collaboration with our partners and the local authorities, we will be able to meet both the strong growth in demand for on-street charge points and the needs for new mobility solutions of London users.

This transfer of activities will have no impact for the current users of the Source London service. This transaction should be closed by the end of the year.


About Total in the United Kingdom

Total is present across the energy value chain in the UK. It has been present in the country for over 50 years and employs over 2,000 people.

Upstream, Total is one of the country’s leading oil and gas operators, with equity production of 189,000 boe/d in 2019. It principally comes from operated offshore fields in three major zones: the Alwyn/Dunbar area in the Northern North Sea, the Elgin/Franklin and Culzean areas in the Central North Sea and the Laggan-Tormore hub in the West of Shetland area.

Total has also entered the UK offshore wind renewables market, with Erebus off the coast of Wales and Seagreen off the coast of Scotland.

Downstream, Total is one of the UK’s largest suppliers of gas and electricity to businesses and the public sector. The Group is also present in the marketing of petroleum products including lubricants, aviation fuel, bitumen and specialty fluids.

About Total

Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

* * * * *

Total Contacts

Media Relations: +33 1 47 44 46 99 l presse@total.com l LOGO @TotalPress

Investor Relations: +44 (0) 207 719 7962 l ir@total.com

Cautionary Note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

EX-99.8 9 d46772dex998.htm EX-99.8 EX-99.8

EXHIBIT 99.8

 

LOGO

Press Release

Total Extends its Biodiversity Ambition

To Coincide With the Preparation

of the United Nations Plan for Biodiversity

Paris, September 29, 2020 – Against the backdrop of the United Nations General Assembly, Total, which has just been recognized as Global Compact Lead by the United Nations, is committing to biodiversity by extending its ambition in four main areas.

 

  1.

Voluntary exclusion zones: Total commits, in recognition of the universal value of UNESCO World Natural Heritage sites, not to conduct oil or gas exploration or extraction operations in these areas. Total also commits not to conduct any oil exploration in the Arctic sea ice.

 

  2.

New projects: biodiversity action plans will be developed for any new site located in an area of interest for biodiversity, that is IUCN (International Union for the Conservation of Nature) Protected Areas I to IV and Ramsar areas. Moreover, the Group commits to implementing measures to produce a net positive impact on biodiversity for each new project located in an IUCN I or II area or Ramsar area.

 

  3.

Existing sites: on every existing environmentally significant site (Exploration & Production production sites, refineries, petrochemicals sites, gas-fired power stations) which is ISO14001 certified, a biodiversity action plan will be deployed. Total will report its deployment to the various stakeholders. When a site stops its operation, Total is also committing to considering the development of a dedicated area rich in biodiversity (e.g. rare species habitats, biodiversity sanctuaries, etc.) as one of the options for its rehabilitation.

 

  4.

Promotion of biodiversity: as part of Total Foundation’s Climate, Coastal and Oceans program, Total will support biodiversity-related awareness programs, youth education and research actions. Total also commits to sharing the biodiversity data collected as part of our environmental studies for Group projects with the scientific community and the general public.

“The planet’s rich biodiversity is under threat. Total’s inclusion of biodiversity goes back some time, but the current degradation of the environment is a reality that requires us all to make a major change, collectively and individually. For this reason, Total is now stepping up its biodiversity ambition and commitments, and this will contribute to the Group’s ambition to become the responsible energy major,” announced Patrick Pouyanné, Total Chairman and CEO.

Total had adopted a biodiversity policy by 2005, to concretize the global recognition of these issues by the Group. In 2016, the Group pledged to contribute to realizing the Sustainable Development goals (SDGs) adopted by the United Nations, including those connected to biodiversity. In 2018, Total signed the act4nature initiative led by the French business association Association Française des Entreprises pour l’Environnement (EpE).

u Click here to read about our ambition in detail t


About Total

Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

* * * * *

Total Contacts

Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com

Cautionary Note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

EX-99.9 10 d46772dex999.htm EX-99.9 EX-99.9

EXHIBIT 99.9

 

LOGO

Press Release

2020 Strategy & Outlook Presentation

From Net Zero ambition to Total Strategy

Paris, September 30, 2020 - Patrick Pouyanné, Chairman and CEO, will present Total’s Strategy & Outlook in Paris today. The webcast of the presentation in English is available on total.com.

Key messages of the presentation include:

Increasing energy while decreasing carbon

Growing energy demand and getting to Net Zero are the two global trends underpinning the Total Energy Outlook and thus the evolutions of the energy markets that Total integrates into its strategy.

Total’s strategy aims to transform itself into a broad energy company by profitably growing energy production from LNG and electricity, the two fastest growing energy markets, aiming to create long term value for its shareholders. In the next decade, Total’s energy production will grow by one third, roughly from 3 to 4 Mboe/d, half from LNG, half from electricity, mainly from renewables. The Group will progressively scale up profitable investments in renewables and electricity from 2 to 3 B$ per year representing more than 20% of capital investments.

Total confirms its ambition to get to Net Zero by 2050 together with society for its global business (Scope 1+2+3). On its way to carbon neutrality in Europe by 2050, Total will reduce the Scope 3 emissions of its European customers by 30%, in absolute value, by 2030. This decrease in Europe allows Total to take the new commitment to reduce the absolute level of the worldwide Scope 3 emissions of its customers in 2030 compared to 2015. In the next decade, oil products sales from Total will diminish by almost 30% and Total’s sales mix will become 30% oil products, 5% biofuels, 50% gases, 15% electrons.

Increasing energy in gases…

Total LNG sales will reach 50 Mt/y by 2025 and will double over 2020-30, creating value from scale, arbitrage and integration along the value chain. Cash-flow from integrated LNG business shall grow by 40% to more than 4 B$ in 2025 at 50$/b. Decarbonizing natural gas with biogas and hydrogen as well as continuing to reduce methane emissions will contribute to Total’s climate ambition.

… in electrons …

Developing an integrated business model from production to sales through storage and trading, Total is targeting 50 TWh of net production and 80 TWh of sales to 9 million customers by 2025. Building on the strong dynamic in 2020, Total will grow as a world leader in renewables, raising its objective to 35 GW gross capacity in 2025 (70% already in portfolio), and has the ambition to add around 10 GW per year beyond, as it managed to do in 2020.

Renewables and electricity are expected to deliver a predictable cash flow of more than 1.5 B$ per year by 2025.


… and privileging value over volume in oil

Total will focus on low cost oil projects, privileging value over volume and develop its portfolio of oil projects, all with profitability above 15% at 50$/b, while ensuring consistency for Capex allocation with climate ambition.

Adapting energy sales to market evolution and engaging in the mobility revolution

As recently demonstrated with the Lindsey refinery divestment and the transformation of Grandpuits refinery into a zero oil platform, Total will adapt refining capacity and sales to demand, particularly in Europe. In the same time, it will further increase its biofuels productions and sales as demand for such renewable products is supported by policies aiming to get to Net Zero. Renewable diesel production is expected to reach more than 2 Mt/y by 2025.

The Group is also committing more than 1 B$ over the next ten years to the e-mobility revolution by investing in battery manufacturing and EV charging with a target of 150,000 charge points by 2025.

Resilience & Growth underpinning compelling investment case

In the current uncertain environment, Total remains focused on what it controls and specifically on the pillars that enable the Group to resist the crisis: HSE, delivery, costs and cash, with a view to continuously improve its organic breakeven below 25 $/boe. Discipline and flexibility will be maintained on capital investments with 13-16 B$ over 2022-25 assuming an oil price between 50 and 60 $/b. Considering the short-term uncertainty and low price environment, capital investment for 2021 should be under 12 B$. Cost reduction efforts will be accelerated and increased to 2 B$ by 2023.

Accelerating its shift toward low carbon businesses while growing its Upstream production by around 2% per year between 2019 and 2025, mainly over 2022-25, the Group confirms a cash flow growth of 5 B$ by 2025 and a ROE greater than 10% in a 50 $/b environment.

Based on this outlook and given the resilience shown by the Group, the Board reaffirms its confidence in the Group’s fundamentals and confirms that the dividend is supported at 40 $/b. Beyond serving the dividend, priority will be given to bringing gearing below 20%. Furthermore, the Board is convinced that Total, with its strategy to become a multi-energy company while offering a high yield dividend, is a compelling investment case supporting stock rerating.

* * * * *

Following the Strategy & Outlook presentation, there will be a series of thematic presentations made by members of the Executive Committee:

Becoming a world leader in renewables

by Philippe Sauquet, President Gas, Renewables & Power

The mobility revolution

A worldwide ambition in biofuels

by Bernard Pinatel, President Refining & Chemicals

Engaging in the electric mobility revolution

by Alexis Vovk, President Marketing & Services

* * * * *


About Total

Total is a broad energy Group, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

* * * * *

Total contacts

Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com

Cautionary note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

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