The Shareholders' Newsletter #68 - Summer 2022

Chairman’s message

CHAIRMAN’S MESSAGE

© Khanh Renaud

2020-2030 is truly a decade that should establish TotalEnergies as a major player in decarbonized energies.
Patrick Pouyanné 
Chairman and Chief Executive Officer of TotalEnergies

Dear Shareholders,

This year, our Shareholders’ Meeting did not go quite as planned. I would have been delighted to welcome you in the Pleyel room, but unfortunately, the vast majority of you were unable to enter the meeting as the access routes were barred by demonstrators.

I would like to express my sincere apologies for the disruptions and disturbance, and I deeply regret the situation as I attach great importance to this opportunity to be able to speak to you directly. It is also a key moment in the life of the Company.

I would also like to say that I respect all points of view because they feed our collective intelligence and enable us to move forward. I will always support constructive dialogue and democracy. This is why I regret that most of our individual shareholders had difficulties accessing our Shareholders’ Meeting, just as I condemn any form of violence - verbal or physical - and remind all that respect for others is one of our Company's core values.

In spite of these difficulties, with the votes cast upstream of the meeting, the quorum was achieved and the vote on resolutions on the agenda was able to take place. In particular, the great majority of you - 89% - chose to back our Climate Resolution, so thank you very much for that! It’s an acknowledgement of the progress we have already made, and a clear signal of confidence in our strategy. The vote also shows that the honesty and transparency we’ve demonstrated by sharing our business plans are paying off, continuing to resonate with a vast number of our shareholders. As TotalEnergies undergoes its transformation, support from our shareholders is crucial and we pay particular attention to our individual shareholders who now represent 13.5% of the Company capital, or actually 20% if we add employee shareholders to that figure.

As I announced previously, your Company is still undergoing its transformation, which is set to speed up in accordance with the Board of Directors’ decision in the current favorable economic context. 2020-2030 is truly a decade that should establish TotalEnergies as a major player in decarbonized energies: on the one hand, an integrated electricity provider, with the ambition for this market segment to represent 15-20% of Company activities by 2030; and on the other, a producer and distributor of decarbonized molecules such as biofuels, biogas and biomethane, hydrogen, e-fuels and bioplastics.

Moreover, we have recently announced new projects for growth in LNG and renewables in the United States, such as the extension of the Cameron LNG project and the acquisition of a 50% share in Clearway. This operation boosts our portfolio of renewable energies projects to over 25 GW installed capacity by 2030, the aim being that the United States of America, one of the three major worldwide renewables markets, carry over 25% of our global ambition for 100 GW in renewables by this date.

TotalEnergies is transforming and is developing its energy mix, but that’s not all. We are taking proactive steps to reduce our environmental footprint and greenhouse gas and methane emissions. We have prepared an action plan to ensure drastic cuts in the aforementioned emissions (respectively -20% and -48% between 2015 and 2021), and thereby achieve Net Zero by 2050, together with society.

The energy transition requires everyone to be mobilized, and it’s not through confrontation, but through dialog and action that we will achieve our goals. Our transformation is already under way and will continue to gather speed in the years ahead so we can meet our objectives: more energy, fewer emissions, always more sustainable, and always more profitable for all of our stakeholders and, of course, for each and every one of you, our shareholders.

Thank you for your loyalty.

Patrick Pouyanné 
Chairman and Chief Executive Officer of TotalEnergies