TotalEnergies Q3 2026 net income climbs to $8.26B

Nine-month net income was $19.511 billion, and the company confirmed planned 2026 net investments of around $15 billion.

Filing Impact

(Moderate)

Filing Sentiment

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Form Type

6-K

Rhea-AI Filing Summary

TotalEnergies SE reported third-quarter 2026 sales of $66.819 billion and net income attributable to TotalEnergies of $8.263 billion, versus $3.683 billion in the third quarter of 2025. Adjusted net income was $9.097 billion. Nine-month sales were $182.753 billion, up 21% year over year, and adjusted EBITDA was $43.540 billion, up 43%.

Third-quarter cash flow from operating activities was $15.390 billion; cash flow from operations excluding working capital (CFFO) was $12.255 billion, up 25% from the prior quarter. CFFO was positively impacted by a $3.1 billion decrease in working capital. Net debt was $13.792 billion and gearing was 9.1% at September 30, 2026, compared with gearing of 13.1% at June 30, 2026.

Hydrocarbon production averaged 2,474 thousand barrels of oil equivalent per day, up 3% from the second quarter. For the fourth quarter, the company expects production growth of more than 3% versus the fourth quarter of 2025, excluding the impact of the conflict in the Middle East, and an average LNG selling price above $14/Mbtu. It confirmed planned 2026 net investments of around $15 billion.

2 points · 0 major

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0 major · 0 points

How the balance works

Positive

Moderate pointNine-month net income rose 91% to $19.511 billion.
Moderate pointNine-month CFFO rose 48% to $30.635 billion.

Negative

None.

Filing Explained

The nine-month equity record combines new common-share issuance with treasury-share purchases and cancellations, rather than reporting a single share action.

In its October 29, 2026 Form 6-K, TotalEnergies furnishes third-quarter and nine-month results. The report says it is incorporated by reference into specified F-3 and S-8 registration statements from the furnishing date, adding its disclosures to those registration filings.

The nine-month equity statement records 100,985,040 common shares issued, 43,827,303 treasury shares purchased, and 25,913,869 shares canceled.

Key Figures

Sales: $182.753 billion Net income (TotalEnergies share): $8.263 billion Adjusted net income (TotalEnergies share): $20.518 billion +5 more

8 metrics

Sales $182.753 billion Nine months ended September 30, 2026; up 21% versus the same period in 2025

Net income (TotalEnergies share) $8.263 billion Third quarter 2026; compared with $3.683 billion in the third quarter of 2025

Adjusted net income (TotalEnergies share) $20.518 billion Nine months ended September 30, 2026; up 75% versus the same period in 2025

Adjusted EBITDA $43.540 billion Nine months ended September 30, 2026; up 43% versus the same period in 2025

Cash flow from operations excluding working capital (CFFO) $12.255 billion Third quarter 2026; up 25% versus the second quarter of 2026

Net cash flow $8.976 billion Third quarter 2026; up 41% versus the second quarter of 2026

Hydrocarbon production 2,474 thousand barrels of oil equivalent per day Third quarter 2026; up 3% versus the second quarter of 2026

Gearing 9.1% At September 30, 2026; compared with 13.1% at June 30, 2026 and 17.3% at September 30, 2025

Key Terms

Adjusted EBITDA, Cash flow from operations excluding working capital (CFFO), Gearing, replacement cost method, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA was 43,540 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Cash flow from operations excluding working capital (CFFO) financial

"Cash flow from operations excluding working capital (CFFO)"

Cash flow from operations excluding working capital measures the cash a business generates from its core activities after adjusting for non-cash items but before the ups and downs in short-term items like inventory, customer payments (receivables) and bills due (payables). For investors it highlights the company’s underlying, recurring cash-making ability independent of timing quirks, much like counting a store’s cash sales before factoring in money tied up in stock or credit terms.

Gearing financial

"Gearing (1) of 9.1% at September 30, 2026"

Gearing measures how much a company relies on borrowed money compared with its own funds, often shown as debt relative to equity or total capital. Like using a lever to lift a heavy box, higher gearing can amplify gains when things go well but also magnify losses and the chance of financial stress if revenue falls; investors watch it to judge risk, potential return, and the firm’s ability to meet interest and repayment obligations.

replacement cost method financial

"adjusted results ... are presented according to the replacement cost method"

European Refining Margin Marker (ERM) financial

"European Refining Margin Marker (ERM) ($/b)"

A European refining margin marker (ERM) is a widely used indicator that estimates how much profit refiners in Europe make by turning crude oil into finished fuels and other products. Think of it like the difference between the cost of raw ingredients and the price of baked goods; a higher ERM suggests refiners can sell products for much more than their crude costs, which matters to investors because it directly affects refinery earnings, cash flow and the attractiveness of energy stocks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much net income did TTE report in Q3 2026?

TotalEnergies reported net income attributable to its shareholders of $8.263 billion for the third quarter of 2026, compared with $5.438 billion in the second quarter of 2026 and $3.683 billion in the third quarter of 2025.

What does CFFO mean for TTE?

TotalEnergies defines CFFO as cash flow from operating activities before working-capital changes at replacement cost, excluding the mark-to-market effect of Integrated LNG and Integrated Power contracts and including capital gains from renewable project sales and organic loan repayments from equity affiliates.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

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Available on EDGAR 10/29/2026 - 06:53 AM EDT Accepted by SEC EDGAR 10/29/2026 - 06:53 AM EDT

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 29, 2026

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 x Form 40-F ¨

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (NOS. 333-278983, 333-278983-01, 333-278983-03 AND 333-278983-04) OF TOTALENERGIES SE, TOTALENERGIES CAPITAL INTERNATIONAL, TOTALENERGIES CAPITAL USA LLC AND TOTALENERGIES CAPITAL AND THE REGISTRATION STATEMENT ON FORM S-8 (NOS. 333-296415, 333-296929 AND 333-280516) 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 third quarter of 2026 and the nine months ended September 30, 2026, a description of certain recent developments relating to its business, as well as a capitalization table as of September 30, 2026.

EXHIBIT INDEX

Exhibit No.	Description

Exhibit 99.1	Results for the Third Quarter of 2026 and the Nine Months Ended September 30, 2026

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: October 29^th, 2026	By:	/s/ DENIS TOULOUSE
		Name:	Denis Toulouse
		Title:	Company Treasurer

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 and extra-financial information on pages 1-24 of this exhibit relating to TotalEnergies with respect to the third quarter of 2026 and nine months ended September 30, 2026 has been derived from TotalEnergies’ unaudited consolidated balance sheets as of September 30, 2026, unaudited statements of income, comprehensive income, cash flow and business segment information for the third quarter of 2026 and nine months ended September 30, 2026 and unaudited consolidated statements of changes in shareholders’ equity for the nine months ended September 30, 2026 following page 25 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, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 27, 2026.

A. KEY FIGURES

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except earnings per share and number of shares	9M26	9M25	9M26 vs 9M25
66,819	61,771	+8%	48,691	Sales	182,753	150,572	+21%
8,263	5,438	+52%	3,683	Net income (TotalEnergies share)	19,511	10,221	+91%
17,809	13,179	+35%	10,295	Adjusted EBITDA ⁽¹⁾	43,540	30,489	+43%
9,712	6,871	+41%	4,659	Adjusted net operating income ⁽²⁾ from business segments	22,883	13,841	+65%
3,157	3,231	-2%	2,169	Exploration & Production	8,964	6,594	+36%
1,885	807	x2,3	852	Integrated LNG	4,010	3,187	+26%
602	533	+13%	571	Integrated Power	1,680	1,651	+2%
3,601	1,800	x2	687	Refining & Chemicals	7,000	1,377	x5,1
467	500	-7%	380	Marketing & Services	1,229	1,032	+19%
9,097	6,027	+51%	3,980	Adjusted net income (TotalEnergies share) ⁽¹⁾	20,518	11,750	+75%
3.66	2.41	+52%	1.64	Fully-diluted earnings per share ($)	8.73	4.49	+94%
2,234	2,216	+1%	2,200	Fully-diluted weighted-average shares (millions)	2,202	2,225	-1%
4,962	3,276	+51%	3,203	Cash flow used in investing activities	12,550	14,697	-15%
4,789	4,694	+2%	3,473	Organic investments ⁽¹⁾	14,133	12,794	+10%
(1,510)	(1,247)	ns	(381)	Acquisitions net of assets sales ⁽¹⁾	(2,929)	1,851	ns
3,279	3,447	-5%	3,092	Net investments ⁽¹⁾	11,204	14,645	-23%
15,390	10,858	+42%	8,349	Cash flow from operating activities	29,609	16,872	+75%
12,255	9,804	+25%	7,061	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	30,635	20,671	+48%
12,634	10,188	+24%	7,443	Debt Adjusted Cash Flow (DACF) ⁽¹⁾	31,801	21,663	+47%
Gearing⁽¹⁾ of 9.1% at September 30, 2026 vs. 13.1% at June 30, 2026 and 17.3% at September 30, 2025

(1)

Adjusted EBITDA, adjusted net income, organic investments, acquisitions net of assets sales, net investments, cash flow from operations excluding working capital (CFFO), debt adjusted cash flow (DACF) and gearing are non-GAAP financial measures. Refer to the Glossary on page 25 for the definitions and further information on non-GAAP measures (alternative performance measures) and to the reconciliation tables starting on page 16.

(2)

Detail of adjustment items shown in the business segment information under the heading “Information by business segment” in the unaudited financial statements attached hereto.

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

Environment – liquids and gas price realizations, refining margins

3Q26	2Q26	3Q26 vs 2Q26	3Q25		9M26	9M25	9M26 vs 9M25
97.0	103.8	-7%	69.1	Brent ($/b)	93.9	70.9	+32%
2.9	2.9	-2%	3.1	Henry Hub ($/Mbtu)	3.1	3.5	-11%
21.5	15.6	+38%	11.3	TTF ($/Mbtu)⁽¹⁾	17.0	12.5	+36%
22.8	17.5	+31%	11.7	JKM ($/Mbtu)⁽²⁾	18.2	12.7	+44%
87.1	91.6	-5%	66.5	Average price of liquids ^{(3), (4)}($/b) Consolidated subsidiaries	83.9	67.9	+23%
7.00	5.55	+26%	5.50	Average price of gas ^{(3), (5)} ($/Mbtu) Consolidated subsidiaries	6.04	5.92	+2%
12.28	10.20	+20%	8.91	Average price of LNG ^{(3), (6)} ($/Mbtu) Consolidated subsidiaries and equity affiliates	10.18	9.36	+9%
33.2	13.5	x2.5	8.4	European Refining Margin (ERM) ^{(3), (7)} ($/b)	19.4	5.7	x3.4

(1)

TTF (Title Transfer Facility) is a virtual trading point in the Netherlands for transferring rights in respect of physical gas. It is the most liquid and widely used price benchmark for the natural gas markets in Europe. TTF is operated by Gasunie Transport Services (GTS), the owner and operator of the national transmission network in the Netherlands. It is traded in €/MWh.

(2)

JKM (Japan-Korea Marker) measures the prices of spot liquid natural gas (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.

(3)

Does not include oil, gas and LNG trading activities, respectively.

(4)

Sales in $ / Sales in volume for consolidated affiliates.

(5)

Sales in $ / Sales in volume for consolidated affiliates.

(6)

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

(7)

This market indicator for European refining, calculated based on public market prices ($/b), uses a basket of crudes, petroleum product yields and variable costs representative of the European refining system of TotalEnergies.

Greenhouse gas emissions (GHG)⁽¹⁾

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Scope 1+2 emissions ⁽²⁾ (MtCO₂e)	9M26	9M25	9M26 vs 9M25
8.5	7.3	+16%	8.4	Scope 1+2 from operated perimeter ⁽³⁾	23.6	24.8	-5%
6.9	6.4	+8%	7.1	of which Oil & Gas	20.2	21.4	-6%
1.6	0.9	+78%	1.3	of which CCGT	3.4	3.4	-
11.7	10.2	+15%	11.0	Scope 1+2 – ESRS perimeter ⁽³⁾	32.3	32.7	-1%

Estimated quarterly emissions.

(1)

The seven greenhouse gases in the Kyoto protocol, namely CO₂, CH₄, N₂O, HFCs, PFCs, SF₆ and NF₃, with their respective 100-year time horizon GWP (Global Warming Potential) as described in the most recent IPCC report. HFCs, PFCs, SF₆ and NF₃ are virtually absent from the Company’s emissions and are not accounted for by the Company.

(2)

Scope 1+2 GHG emissions are defined as the sum of direct emissions of GHG from sites or activities that are included in the scope of reporting for climate change-related indicators and indirect emissions resulting from the production of electricity, steam, heat or cooling, purchased or acquired, and consumed by the sites or activities included in the scope of reporting for climate change-related indicators, net from potential energy sales, excluding purchased industrial gases (H₂). If not stated otherwise, TotalEnergies reports Scope 2 GHG emissions according to the market-based method defined by the GHG Protocol.

(3)

Refer to the Glossary on page 25 for the definitions and further information on non-GAAP measures (alternative performance measures) and to pages 16 and following for reconciliation tables.

3Q26

2Q26

3Q26
vs

2Q26

3Q25

Methane emissions (ktCH₄)

9M26

9M25

9M26

9M25

Methane emissions from operated perimeter ⁽¹⁾

-29%

Estimated quarterly emissions.

(1)

Refer to the Glossary on page 25 for the definitions and further information on non-GAAP measures (alternative performance measures) and to pages 16 and following for reconciliation tables.

For the first nine months of 2026 Scope 3⁽¹⁾ Category 11 emissions are estimated at 243 Mt CO₂e.

⁽¹⁾ If not stated otherwise, TotalEnergies reports Scope 3 GHG emissions, category 11, which correspond to indirect GHG emissions related to the direct use phase emissions of sold products over their expected lifetime (i.e., the scope 1 and scope 2 emissions of end users that occur from the combustion of fuels) in accordance with the definition of the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard Supplement. 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 and gas value chains, i.e. the higher of the two production volumes or sales for end use. The highest point for each value chain for the year 2026 will be determined with regard to the achievement over the whole year, with TotalEnergies providing estimates as the quarters progress. A stoichiometric emission factor (oxidation of molecules to carbon dioxide) is applied to these sales or production to obtain an emission volume. In accordance with the Technical Guidance for Calculating Scope 3 Emissions Supplement to the Corporate Value Chain (Scope 3) Accounting and Reporting Standard which defines end users as both consumers and business customers that use final products, and with IPIECA’s Estimating petroleum industry value chain (Scope 3) greenhouse gas emissions guidelines, under which reporting of emissions from fuel purchased for resale to non-end users (e.g. traded) is optional, TotalEnergies does not report emissions associated with trading activities.

Production*

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Hydrocarbon production	9M26	9M25	9M26 vs 9M25
2,474	2,395	+3%	2,508	Hydrocarbon production (kboe/d)	2,474	2,523	-2%
1,400	1,298	+8%	1,407	Oil (including bitumen) (kb/d)	1,342	1,369	-2%
1,074	1,097	-2%	1,101	Gas (including condensates and associated NGL) (kboe/d)	1,132	1,154	-2%
2,474	2,395	+3%	2,508	Hydrocarbon production (kboe/d)	2,474	2,523	-2%
1,510	1,410	+7%	1,553	Liquids (kb/d)	1,467	1,525	-4%
5,209	5,330	-2%	5,182	Gas (Mcf/d)	5,444	5,409	+1%

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

Hydrocarbon production was 2,474 thousand barrels of oil equivalent per day in the third quarter of 2026, up more than 3% compared to the second quarter, benefiting from a gradual return-to-normal oil production in the Middle East.

Hydrocarbon production is down 1% year-on-year primarily due to:

	·	+4% from project start-ups and project ramp-ups, notably Mero-4 and Lapa SW in Brazil, Anchor and Ballymore in the United States, Begonia and Clov Phase 3 in Angola, Mabruk in Libya and Ratawi in Iraq,
	·	+2% due to improved plant availability,
	·	-2% due to the natural decline of fields,
	·	-5% due to the impact of the conflict in the Middle East.

Excluding the impact of the conflict in the Middle East, production would be up by more than 4% year-on-year.

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.

The 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 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 under the FIFO and the replacement cost methods.

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, whose future effects 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. 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 qualify as special items although they may have occurred in prior years or are likely to occur in following years.

TotalEnergies measures performance at the segment level on the basis of adjusted net operating income. Adjusted net operating income comprises operating income of the relevant segment after deducting the amortization and the depreciation of intangible assets other than mineral interest, translation adjustments and gains or losses on the sale of assets, as well as all other income and expenses related to capital employed (dividends from nonconsolidated companies, income from equity affiliates and capitalized interest expenses) and after income taxes applicable to the above, excluding the effect of the adjustments described below.

The income and expenses not included in net operating income adjusted that are included in net income TotalEnergies share are interest expenses related to net financial debt, after applicable income taxes (net cost of net debt), non-controlling interests, and the adjusted items.

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

Sales prices for transactions between business segments approximate market prices.

The reporting structure for the business segments’ financial information is based on the following five business segments:

An Exploration & Production segment that encompasses the activities of exploration and production of oil and natural gas, as well as carbon storage activities, conducted in about 50 countries;

An Integrated LNG segment covering the integrated gas chain (including upstream and midstream LNG activities), biogas and synthetic methane activities, gas trading, as well as, from January 1, 2026, the LNG bunkering activity previously reported within the Marketing & Services segment;

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, as well as hydrogen activities;

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.

B.1 Exploration & Production

1. Production

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Hydrocarbon production	9M26	9M25	9M26 vs 9M25
1,963	1,845	+6%	2,026	EP (kboe/d)	1,918	1,986	-3%
1,446	1,342	+8%	1,501	Liquids (kb/d)	1,399	1,460	-4%
2,739	2,668	+3%	2,782	Gas (Mcf/d)	2,756	2,799	-2%

2. Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except effective tax rate	9M26	9M25	9M26 vs 9M25
3,157	3,231	-2%	2,169	Adjusted net operating income ⁽¹⁾	8,964	6,594	+36%
263	137	+92%	177	including adjusted income from equity affiliates	539	503	+7%
49.2%	45.4%	-	48.5%	Effective tax rate ⁽²⁾	48.0%	49.4%	-
3,147	1,822	+76%	1,787	Cash flow used in investing activities	7,367	7,582	-3%
2,921	2,231	+31%	1,922	Organic investments	7,876	7,659	+3%
(321)	(348)	ns	(53)	Acquisitions net of assets sales	(896)	225	ns
2,600	1,883	+38%	1,869	Net investments	6,980	7,884	-11%
4,905	5,546	-12%	4,187	Cash flow from operating activities	13,420	11,128	+21%
5,389	5,777	-7%	3,984	Cash flow from operations excluding working capital (CFFO)	15,730	12,035	+31%

(1)

Detail of adjustment items shown in the business segment information under the heading “Information by business segment” in the unaudited financial statements attached hereto.

(2)

Effective tax rate = (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).

Adjusted net operating income and cash flow from operations excluding working capital (CFFO) were $3,157 million and $5,389 million, respectively, reflecting production growth and sensitivities to declining oil prices and rising gas prices quarter-to-quarter.

B.2 Integrated LNG

1. Production

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Hydrocarbon production for LNG	9M26	9M25	9M26 vs 9M25
511	550	-7%	482	Integrated LNG (kboe/d)	556	537	+4%
64	68	-6%	52	Liquids (kb/d)	68	65	+6%
2,470	2,662	-7%	2,400	Gas (Mcf/d)	2,688	2,610	+3%

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Liquefied Natural Gas in Mt	9M26	9M25	9M26 vs 9M25
9.8	10.7	-9%	10.4	Overall LNG sales	32.9	31.6	+4%
3.5	3.9	-9%	3.4	Incl. Sales from equity production*	11.5	11.2	+2%
9.4	9.8	-4%	9.2	Incl. Sales by TotalEnergies from equity production and third party purchases	30.1	28.0	+8%

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

Hydrocarbon production for LNG decreased by 7% quarter-to-quarter, mainly due to planned maintenance, notably on Angola LNG and Ichthys LNG.

2. Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except average price of LNG	9M26	9M25	9M26 vs 9M25
12.28	10.20	+20%	8.91	Average price of LNG ($/Mbtu)⁽¹⁾ Consolidated subsidiaries and equity affiliates	10.18	9.36	+9%
1,885	807	x2,3	852	Adjusted net operating income⁽²⁾	4,010	3,187	+26%
574	705	-19%	423	including adjusted income from equity affiliates	1,710	1,471	+16%
327	910	-64%	146	Cash flow used in investing activities	1,735	1,890	-8%
328	908	-64%	330	Organic investments	1,646	1,825	-10%
(1,162)	4	ns	(134)	Acquisitions net of assets sales	(1,066)	116	ns
(834)	912	ns	196	Net investments	580	1,941	-70%
1,213	2,137	-43%	789	Cash flow from operating activities	2,230	3,071	-27%
1,724	833	x2,1	1,134	Cash flow from operations excluding working capital (CFFO)	4,342	3,542	+23%

(1)

Sales in $ / Sales in volume for consolidated and equity affiliates. Does not include LNG trading activities.

(2)

Detail of adjustment items shown in the business segment information under the heading “Information by business segment” in the unaudited financial statements attached hereto.

Adjusted net operating income and cash flow from operations excluding working capital (CFFO) for the Integrated LNG segment were $1,885 million and $1,724 million, respectively, underpinned by a 20% increase of average LNG price and the outperformance of LNG and gas trading activities in a bull market, given the ongoing conflict in the Strait of Hormuz and the seasonality of demand.

B.3 Integrated Power

1. Productions, capacities, clients and sales

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Integrated Power	9M26	9M25	9M26 vs 9M25
17.9	14.8	+21%	12.6	Net power production (TWh) ⁽¹⁾	44.3	35.5	+25%
9.6	9.6	-	8.2	o/w power production from renewables	27.3	23.3	+17%
8.3	5.2	+61%	4.5	o/w power production from gas flexible capacities	17.0	12.2	+39%
33.8	33.4	+1%	25.2	Portfolio of power generation net installed capacity (GW) ⁽²⁾	33.8	25.2	+34%
21.5	21.1	+2%	18.7	o/w renewables	21.5	18.7	+15%
12.3	12.2	+1%	6.5	o/w power production from gas flexible capacities	12.3	6.5	+88%
105.9	105.8	-	106.0	Portfolio of renewable power generation gross capacity (GW) ^{(2), (3)}	105.9	106.0	-
37.9	37.4	+1%	32.3	o/w installed capacity	37.9	32.3	+17%
6.2	6.1	+1%	6.0	Clients power – BtB and BtC (Million) ⁽²⁾	6.2	6.0	+3%
2.7	2.7	-1%	2.7	Clients gas – BtB and BtC (Million) ⁽²⁾	2.7	2.7	-1%
11.9	11.6	+3%	10.6	Sales power – BtB and BtC (TWh)	38.7	35.6	+9%
10.6	14.5	-27%	11.6	Sales gas – BtB and BtC (TWh)	56.6	62.2	-9%

(1)

Solar, wind, hydroelectric and gas flexible capacities.

(2)

End of period data.

(3)

Includes 17.25% of Adani Green Energy Ltd’s gross capacity, 50% of Clearway Energy Group’s gross capacity and 49% of Casa dos Ventos’ gross capacity.

Net power production was 44.3 TWh over the first nine months of 2026, up 25% year-on-year and in line with the objective of 60 TWh in 2026. This reflects the growth of the integrated power generation portfolio, notably driven by the commissioning of new renewable capacities and the contribution of TTEP’s assets in line with expectations.

2. Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
602	533	+13%	571	Adjusted net operating income⁽¹⁾	1,680	1,651	+2%
142	168	-15%	48	including adjusted income from equity affiliates	362	114	x3.2
1,100	63	x17.5	692	Cash flow used in investing activities	1,846	3,726	-50%
1,135	920	+23%	596	Organic investments	2,878	1,663	+73%
(25)	(749)	ns	(147)	Acquisitions net of assets sales	(851)	1,658	ns
1,110	171	x6,5	449	Net investments	2,027	3,321	-39%
1,636	(239)	ns	674	Cash flow from operating activities	1,252	1,074	+17%
774	721	+7%	611	Cash flow from operations excluding working capital (CFFO)	2,069	1,770	+17%

(1)

Detail of adjustment items shown in the business segment information under the heading “Information by business segment” in the unaudited financial statements attached hereto.

Integrated Power segment adjusted net operating income and cash flow from operations excluding working capital (CFFO) were $602 million and $774 million, respectively, in the quarter, sustained by the contribution of TTEP over a full quarter. This consists of production activities (including renewables and gas-fired power plants) for around 55%, and marketing activities (including B2B, B2C and trading), for around 45%.

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

1. Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
4,068	2,300	+77%	1,067	Adjusted net operating income⁽¹⁾	8,229	2,409	x3.4
315	384	-18%	545	Cash flow used in investing activities	1,392	1,361	+2%
319	540	-41%	590	Organic investments	1,513	1,508	-
(4)	(156)	ns	(45)	Acquisitions net of assets sales	(121)	(147)	ns
315	384	-18%	545	Net investments	1,392	1,361	+2%
7,912	4,114	+92%	3,126	Cash flow from operating activities	14,658	3,226	x4.5
4,622	2,877	+61%	1,653	Cash flow from operations excluding working capital (CFFO)	9,635	4,253	x2.3

(1)

Detail of adjustment items shown in the business segment information under the heading “Information by business segment” in the unaudited financial statements attached hereto.

B.5 Refining & Chemicals

1. Refinery and petrochemicals throughput and utilization rates

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Refinery throughput and utilization rate	9M26	9M25	9M26 vs 9M25
1,555	1,426	+9%	1,478	Total refinery throughput (kb/d)	1,535	1,538	-
426	354	+21%	481	France	414	460	-10%
688	684	+1%	595	Rest of Europe	683	618	+11%
441	389	+13%	402	Rest of world	438	461	-5%
88%	80%		84%	Utilization rate based on crude only*	86%	87%	-

Based on distillation capacity at the beginning of the year.

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Petrochemicals production and utilization rate	9M26	9M25	9M26 vs 9M25
1,165	1,100	+6%	1,326	Monomers* (kt)	3,448	3,740	-8%
1,152	1,165	-1%	1,174	Polymers (kt)	3,476	3,474	-
75%	71%		84%	Steam cracker utilization rate**	73%	79%	-

Olefins.

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

Refinery throughput was up nearly 10% over the quarter, underpinned by all refineries well-functioning in Europe and United States (Port Arthur), and the progressive return of the SATORP refinery in Saudi Arabia to its nominal capacity.

2. Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except ERM	9M26	9M25	9M26 vs 9M25
33.2	13.5	x2.5	8.4	European Refining Margin Marker (ERM) ($/b)⁽¹⁾	19.4	5.7	x3.4
3,601	1,800	x2	687	Adjusted net operating income⁽²⁾	7,000	1,377	x5.1
149	365	-59%	385	Cash flow used in investing activities	1,107	930	+19%
150	366	-59%	387	Organic investments	1,034	956	+8%
(1)	(1)	ns	(2)	Acquisitions net of assets sales	73	(26)	ns
149	365	-59%	385	Net investments	1,107	930	+19%
6,290	3,565	+76%	2,839	Cash flow from operating activities	7,689	2,420	x3.2
3,943	2,030	+94%	1,015	Cash flow from operations excluding working capital (CFFO)	11,419	1,743	x6.6

(1)

(2)

Detail of adjustment items shown in the business segment information under the heading “Information by business segment” in the unaudited financial statements attached hereto.

Refining and Chemicals adjusted net operating income and cash flow from operations excluding working capital (CFFO) were $3,601 million and $3,943 million, demonstrating the segment’s ability to capture historically high refining margins in Europe and worldwide, while oil trading activities continue to outperform on a level consistent with the previous two quarters.

B.6 Marketing & Services

1. Petroleum product sales

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Sales in kb/d*	9M26	9M25	9M26 vs 9M25
1,218	1,213	-	1,269	Total Marketing & Services sales	1,221	1,286	-5%
711	732	-3%	744	Europe	719	749	-4%
507	481	+5%	525	Rest of world	502	537	-6%

Excludes trading and bulk refining sales.

Sales of petroleum products were down 4% compared to the third quarter of 2025, reflecting demand elasticity in a high price environment.

2. Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
467	500	-7%	380	Adjusted net operating income ⁽¹⁾	1,229	1,032	+19%
166	19	x8.7	160	Cash flow used in investing activities	285	431	-34%
169	174	-3%	203	Organic investments	479	552	-13%
(3)	(155)	ns	(43)	Acquisitions net of assets sales	(194)	(121)	ns
166	19	x8.7	160	Net investments	285	431	-34%
1,622	549	x3	287	Cash flow from operating activities	3,239	1,483	x2.2
679	847	-20%	638	Cash flow from operations excluding working capital (CFFO)	1,946	1,833	+6%

(1)

Detail of adjustment items shown in the business segment information under the heading “Information by business segment” in the unaudited financial statements attached hereto.

Marketing & Services segment adjusted net operating income was $467 million in the quarter, up 23% year-on-year, with higher unit margins that more than offset lower volumes.

Cash flow from operations excluding working capital (CFFO) amounted to $679 million in the third quarter of 2026, up 6% year-on-year for the same reasons.

C. TOTALENERGIES RESULTS

1. Net income (TotalEnergies share)

Net income (TotalEnergies share) was $8,263 million in the third quarter of 2026 compared to $5,438 million in the second quarter of 2026 and $3,683 million in the third quarter of 2025.

Adjusted net income (TotalEnergies share) was $9,097 million in the third quarter of 2026, compared with $6,027 million in the second quarter.

Adjusted net income excludes the after-tax inventory effect, non-recurring items, and effects of changes in fair-value.

Adjusting items to net income totaled ($0.8) billion in the third quarter, consisting mainly of:

$1.5 billion in changes in inventories and fair value effects,

($1.9) billion in impairments, in particular for the offshore wind activity within the Integrated Power segment and for the participation of TotalEnergies in Hanwha TotalEnergies Petrochemical Co., Ltd.

2. Fully-diluted shares and share buybacks

As of September 30, 2026, the number of diluted shares was 2,232 million.

TotalEnergies repurchased¹ the following:

17.5 million shares in the third quarter of 2026, for an amount of $1.5 billion,

43.8 million shares in the first nine months of 2026, for an amount of $3.74 billion.

3. Acquisitions - asset sales

Acquisitions amounted to $240 million in the third quarter of 2026, primarily related to the entry in the Bab Gas Cap concession in the United Arab Emirates.

Divestments amounted to $1,750 million in the third quarter of 2026, mainly reflecting the agreement with Global Infrastructure Partners (GIP) on some African energy infrastructure assets.

4. Cash flow

Cash flow from operating activities was $15,390 million in the third quarter of 2026, for a cash flow from operations excluding working capital (CFFO) of $12,255 million, positively impacted by a $3.1 billion decrease in working capital, driven notably by an increase in suppliers’ payables related to the increase of shipping costs and the increase in tax liabilities related to higher prices.

The change in working capital was a decrease of $921 million in the third quarter of 2026 in accordance with IFRS. The difference of $(2,214) million between IFRS and replacement cost method corresponds to the following adjustments: (i) the pre-tax inventory valuation effect of $(1,556) million, (ii) less the mark-to-market effect of Integrated LNG’s and Integrated Power’s contracts of $(672) million, (iii) plus the organic loan repayments from equity affiliates of $14 million.

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 $3,135 million in the third quarter of 2026, compared to a decrease of $1,054 million in the second quarter of 2026.

TotalEnergies’ net cash flow² was $8,976 million in the third quarter of 2026, compared to $6,357 million in the previous quarter, considering the $2,451 million increase in cash flow from operations excluding working capital (CFFO), combined with a $168 million reduction in net investments over the quarter.

¹ Net of fees and taxes, including coverage of employees share grant plans.

² Net cash flow is a non-GAAP financial measure. Refer to the Glossary on page 25 for the definitions and further information on non-GAAP measures (alternative performance measures) and to pages 16 and following for reconciliation tables.

D. PROFITABILITY

Return on equity was 19.6% for the twelve months ending on September 30, 2026.

In millions of dollars	October 1, 2025 September 30, 2026	July 1, 2025 June 30, 2026	October 1, 2024 September 30, 2025
Adjusted net income	24,581	19,477	16,431
Average adjusted shareholders’ equity	125,107	122,739	116,051
Return on equity (ROE)	19.6%	15.9%	14.2%

Return on average capital employed (ROACE)³ was 17.4% for the twelve months ended September 30, 2026.

In millions of dollars	October 1, 2025 September 30, 2026	July 1, 2025 June 30, 2026	October 1, 2024 September 30, 2025
Adjusted net operating income	26,646	21,608	18,204
Average capital employed	153,100	155,138	146,636
ROACE	17.4%	13.9%	12.4%

E. Annual 2026 Sensitivities*

	Change	Estimated impact on adjusted net operating income	Estimated impact on cash flow from operations
Dollar	+/- 0.1 $ per €	-/+ 0.1 B$	~0 B$
Average liquids price**	+/- 10$/b	+/- 2.3 B$	+/- 2.8 B$
European gas price – TTF	+/- 2 $/Mbtu	+/- 0.4 B$	+/- 0.4 B$
European Refining Margin Marker (ERM)	+/- 1 $/b	+/- 0.3 B$	+/- 0.4 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 2026. 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 60-70 $/b Brent environment.

F. OUTLOOK

At the beginning of the fourth quarter, oil prices remain above $100/b, reflecting lasting tensions in the Middle East. In petroleum products markets, the situation is highly volatile, impacted by supply disruptions from the Gulf and global inventories at their lowest levels.

Forward European gas prices remain on a bull trend in anticipation of the winter demand given the ongoing conflict in the Middle East. With the evolution of oil and gas prices in recent months and the lag effect on pricing formulas, TotalEnergies anticipates an increasing average LNG selling price of above $14/Mbtu for the fourth quarter of 2026.

Excluding the impact of the conflict in the Middle East, fourth-quarter production is expected to grow by more than 3% compared to fourth quarter 2025, in line with the annual growth guidance. The impact of the conflict on production is currently decreasing compared to the third quarter and represents less than 5% of the Company’s total production, primarily related to limited exports of LNG volumes via the Strait of Hormuz.

Refinery throughput volumes are expected to be broadly comparable to those of the third quarter, benefiting from the return-to-normal operations at the SATORP platform in Saudi Arabia, and despite a turnaround of the Normandy platform of 20 days.

The Company confirms its planned investments for the year, for a net amount of around $15 billion over 2026, in line with the annual guidance.

3 ROACE is a non-GAAP financial measure. Refer to the Glossary on page 25 for the definitions and further information on Non-GAAP measures (alternative performance measures).

FORWARD-LOOKING STATEMENTS

This document may contain forward-looking statements (including 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 strategy of TotalEnergies and expectations regarding returns to stockholders, including with respect to future dividends and share buybacks, and (ii) oil and gas price predictions (including LNG), estimated production growth, expected utilization rates, anticipated cash flow contribution and capacity from net investments. This document may also contain statements regarding the perspectives, objectives, areas of improvement and goals of TotalEnergies SE, including with respect to climate change and carbon neutrality. 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 be identified by the use of the future or conditional tense or forward-looking words such as “will”, “should”, “could”, “would”, “may”, “likely”, “might”, “envisions”, “intends”, “anticipates”, “believes”, “estimates”, “considers”, “plans”, “expects”, “thinks”, “targets”, “has an ambition to”, “commits”, “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 publication of this document.

These forward-looking statements are not historical data and should not be interpreted as assurances that the outlook, objectives, goals or ambitions announced will be achieved. They are uncertain 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, changes in the demand and price of petroleum products, changes in production levels and estimates of reserves, 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, technological innovations, meteorological conditions and events, as well as socio-demographic, economic and political developments, changes in market conditions, loss of market share and changes in consumer preferences, pandemics and other risk factors described in the Corporation’s regulatory filings, including its Universal Registration Document filed with the French Autorité des Marchés Financiers, its Annual Report on Form 20 F filed with the SEC and its other reports filed or furnished with the SEC. 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.

Future interim or final annual dividend payments beyond the interim dividend payable on April 2nd, 2027 (or April 20th, 2027 for holders on the U.S. register) have not yet been decided by the Board of Directors or approved by shareholders at a General Meeting. Management’s expectations with respect to such future dividends are “forward-looking statements” and are non-binding. The Board of Directors retains full discretion to decide to distribute an interim dividend and to set the amount and date of the distribution and decide on the dividend to be submitted for approval by shareholders at a General Meeting, based on a number of factors, including TotalEnergies’ financial results, balance sheet strength, cash and liquidity requirements, future prospects, commodity prices, and other factors deemed relevant by the Board.

Readers are cautioned not to consider forward-looking statements as certain, but as an expression of the Corporation’s views only as of the date this document is published.

TotalEnergies SE and its subsidiaries undertake no obligation, make no commitment and expressly disclaim any responsibility to investors or any stakeholder to update or revise, particularly as a result of new information or future events, any forward-looking information or statements, objectives or trends contained in this document. In addition, the Corporation has not verified and is under no obligation to verify any data or information provided by or sourced from third parties contained in this document or used in the estimates and assumptions or, more generally, forward-looking statements published in this document. Readers are advised to verify them independently before relying on them. The information on risk factors that could have a significant adverse effect on TotalEnergies’ business, financial condition, including its operating income and cash flow, reputation, outlook or the value of financial instruments issued by TotalEnergies is provided in the most recent version of the Universal Registration Document which is filed by TotalEnergies SE with the French Autorité des Marchés Financiers and the annual report on Form 20-F filed with the SEC.

Additionally, the developments of climate change and other environmental or social issues in this document are based on various frameworks and the interests of various stakeholders which are subject to evolve independently of our will. Moreover, our disclosures on such issues, including disclosures on climate change and other environmental or social issues, may include information that is not necessarily “material” under US securities laws for SEC reporting purposes or under applicable securities law.

OPERATING INFORMATION BY SEGMENT

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

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Combined liquids and gas production by region (kboe/d)	9M26	9M25	9M26 vs 9M25
517	517	-	515	Europe	535	536	-
408	414	-1%	433	Africa	418	427	-2%
776	671	+16%	864	Middle East and North Africa	741	854	-13%
512	513	-	476	Americas	504	446	+13%
261	280	-7%	220	Asia-Pacific	276	260	+6%
2,474	2,395	+3%	2,508	Total production	2,474	2,523	-2%
383	375	+2%	361	includes equity affiliates	371	375	-1%

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Liquids production by region (kb/d)	9M26	9M25	9M26 vs 9M25
208	202	+3%	204	Europe	206	207	-1%
294	286	+3%	317	Africa	293	312	-6%
637	537	+19%	696	Middle East and North Africa	597	684	-13%
277	283	-2%	249	Americas	273	223	+22%
94	102	-8%	87	Asia-Pacific	98	99	-
1,510	1,410	+7%	1,553	Total production	1,467	1,525	-4%
167	120	+39%	161	includes equity affiliates	140	161	-13%

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Gas production by region (Mcf/d)	9M26	9M25	9M26 vs 9M25
1,654	1,693	-2%	1,675	Europe	1,764	1,771	-
574	656	-13%	588	Africa	633	578	+10%
761	736	+3%	928	Middle East and North Africa	793	940	-16%
1,310	1,275	+3%	1,260	Americas	1,282	1,237	+4%
910	970	-6%	731	Asia-Pacific	972	883	+10%
5,209	5,330	-2%	5,182	Total production	5,444	5,409	+1%
1,150	1,374	-16%	1,120	includes equity affiliates	1,248	1,176	+6%

Downstream (Refining & Chemicals and Marketing & Services)

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Petroleum product sales by region (kb/d)	9M26	9M25	9M26 vs 9M25
1,731	1,704	+2%	1,839	Europe	1,748	1,806	-3%
478	445	+7%	566	Africa	485	600	-19%
1,033	1,141	-9%	978	Americas	1,110	1,036	+7%
730	721	+1%	1,128	Rest of world	816	976	-16%
3,972	4,011	-1%	4,510	Total consolidated sales	4,159	4,418	-6%
365	343	+6%	354	Includes bulk sales	356	359	-1%
2,389	2,455	-3%	2,887	Includes trading	2,582	2,773	-7%

3Q26	2Q26	3Q26 vs 2Q26	3Q25	*Petrochemicals production (kt)**	9M26	9M25	9M26 vs 9M25
1,045	1,030	+1%	976	Europe	3,063	2,792	+10%
791	734	+8%	773	Americas	2,201	2,217	-1%
482	501	-4%	751	Middle East and Asia	1,660	2,205	-25%

Olefins, polymers.

INTEGRATED POWER

Net power production

	3Q26						2Q26
Net power production (TWh)	Solar	Onshore Wind	Offshore Wind	Gas	Others	Total	Solar	Onshore Wind	Offshore Wind	Gas	Others	Total
France	0.3	0.2	0.0	1.5	0.0	2.0	0.3	0.2	0.0	0.6	0.0	1.2
Rest of Europe	0.2	0.4	0.2	4.5	0.5	5.9	0.2	0.4	0.2	2.7	0.4	3.9
Africa	0.0	-	-	-	0.1	0.2	0.0	-	-	-	0.1	0.1
Middle East	0.4	-	-	0.4	-	0.8	0.4	-	-	0.3	-	0.7
North America	1.5	0.5	-	1.9	-	3.9	1.3	0.6	-	1.4	-	3.4
South America	0.2	1.2	-	-	-	1.4	0.1	1.0	-	-	-	1.1
India	2.4	0.7	-	-	-	3.1	3.1	0.7	-	-	-	3.8
Asia-Pacific	0.5	0.0	0.1	-	-	0.6	0.4	0.0	0.1	-	-	0.5
Total	5.5	3.1	0.3	8.3	0.7	17.9	5.9	2.9	0.3	5.2	0.5	14.8

Installed power generation net capacity

		3Q26						2Q26
Installed power generation net capacity (GW) ⁽¹⁾	Solar	Onshore Wind	Offshore Wind	Gas	Others	Total	Solar	Onshore Wind	Offshore Wind	Gas	Others	Total
France	0.8	0.6	0.0	2.7	0.2	4.3	0.8	0.6	0.0	2.7	0.2	4.3
Rest of Europe	0.7	1.1	0.3	7.4	0.4	9.9	0.8	1.1	0.3	7.3	0.4	9.8
Africa	0.1	-	-	-	0.1	0.2	0.1	-	-	-	0.1	0.2
Middle East	0.6	-	-	0.3	-	1.0	0.6	-	-	0.3	-	1.0
North America	3.1	0.9	-	1.9	0.5	6.4	3.1	0.9	-	2.0	0.5	6.5
South America	1.0	1.2	-	-	-	2.2	0.9	1.2	-	-	-	2.1
India	7.3	0.7	-	-	0.4	8.4	7.2	0.7	-	-	0.3	8.1
Asia-Pacific	1.2	0.0	0.2	-	-	1.4	1.2	0.0	0.2	-	-	1.4
Total	14.9	4.4	0.5	12.3	1.7	33.8	14.8	4.4	0.5	12.2	1.5	33.4

(1)

End-of-period data.

Power generation gross capacity from renewables

	3Q26					2Q26
Installed power generation gross capacity from renewables (GW) ^{(1), (2)}	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	1.4	0.9	0.0	0.3	2.6	1.4	0.9	0.0	0.2	2.5
Rest of Europe	0.9	1.8	1.1	0.5	4.4	0.9	1.8	1.1	0.5	4.4
Africa	0.4	0.0	0.0	0.4	0.7	0.4	0.0	0.0	0.4	0.7
Middle East	1.6	0.0	0.0	0.0	1.6	1.6	0.0	0.0	0.0	1.6
North America	7.8	2.3	0.0	1.2	11.3	7.8	2.3	0.0	1.2	11.3
South America	1.2	1.9	0.0	0.0	3.1	1.2	1.9	0.0	0.0	3.0
India	10.4	0.7	0.0	0.4	11.5	10.3	0.7	0.0	0.3	11.2
Asia-Pacific	1.9	0.0	0.6	0.0	2.6	1.9	0.0	0.6	0.0	2.6
Total	25.6	7.7	1.8	2.8	37.9	25.4	7.6	1.8	2.5	37.4

	3Q26					2Q26
Power generation gross capacity from renewables in construction (GW) ^{(1), (2)}	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	0.1	0.1	0.0	0.0	0.3	0.1	0.1	0.0	0.0	0.3
Rest of Europe	0.7	0.1	0.8	0.8	2.4	0.7	0.1	0.8	0.7	2.3
Africa	0.2	0.2	0.0	0.0	0.3	0.2	0.2	0.0	0.0	0.3
Middle East	1.3	0.2	0.0	0.0	1.5	1.3	0.2	0.0	0.0	1.5
North America	1.8	0.4	0.0	0.3	2.5	1.8	0.4	0.0	0.3	2.5
South America	0.7	0.7	0.0	0.3	1.7	0.7	0.8	0.0	0.3	1.7
India	0.7	0.0	0.0	0.0	0.7	0.3	0.0	0.0	0.0	0.3
Asia-Pacific	0.6	0.0	0.0	0.0	0.6	0.5	0.0	0.0	0.0	0.5
Total	6.1	1.8	0.8	1.4	10.0	5.6	1.8	0.8	1.3	9.6

	3Q26					2Q26
Power generation gross capacity from renewables in development (GW) ^{(1), (2)}	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	0.7	0.4	1.5	0.3	2.9	0.9	0.5	1.5	0.0	2.8
Rest of Europe	3.7	2.0	13.9	4.3	23.7	3.7	1.9	14.3	4.3	24.3
Africa	1.1	0.6	0.0	0.0	1.7	1.1	0.5	0.0	0.0	1.6
Middle East	0.8	0.0	0.0	0.0	0.8	0.8	0.0	0.0	0.0	0.8
North America	11.4	3.4	0.0	4.4	19.0	10.8	3.1	0.0	4.9	18.8
South America	0.6	1.0	0.0	0.0	1.7	0.7	1.0	0.0	0.0	1.8
India	1.0	0.0	0.0	0.0	1.0	1.4	0.0	0.0	0.0	1.4
Asia-Pacific	2.5	1.1	2.6	1.1	7.3	2.6	1.1	2.6	1.1	7.3
Total	21.6	8.6	18.0	10.0	58.0	21.9	8.1	18.4	10.4	58.8

(1)

End-of-period data.

(2)

Includes 17.25% of the gross capacities of Adani Green Energy Limited, 50% of Clearway Energy Group and 49% of Casa dos Ventos.

ADJUSTMENT ITEMS TO NET INCOME (TOTALENERGIES SHARE)

3Q26	2Q26	3Q25	In millions of dollars	9M26	9M25
8,263	5,438	3,683	Net income (TotalEnergies share)	19,511	10,221
(2,320)	(268)	(93)	Special items affecting net income (TotalEnergies share)	(3,619)	(541)
(114)	(17)	284	Gain (loss) on asset sales	121	284
-	(30)	(7)	Restructuring charges	(52)	(7)
(1,945)	-	(286)	Impairments	(3,093)	(495)
(261)	(221)	(84)	Other	(595)	(323)
1,227	(290)	(32)	After-tax inventory effect : FIFO vs. replacement cost	2,444	(378)
259	(31)	(172)	Effect of changes in fair value	168	(610)
(834)	(589)	(297)	Total adjustments affecting net income	(1,007)	(1,529)
9,097	6,027	3,980	Adjusted net income (TotalEnergies share)	20,518	11,750

RECONCILIATION OF NET INCOME (TOTALENERGIES SHARE) TO ADJUSTED EBITDA

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
8,263	5,438	*+52%*	3,683	Net income (TotalEnergies share)	19,511	10,221	*+91%*
834	589	+42%	297	Less: adjustment items to net income (TotalEnergies share)	1,007	1,529	-34%
9,097	6,027	*+51%*	3,980	Adjusted net income (TotalEnergies share)	20,518	11,750	*+75%*
				Adjusted items
67	45	+49%	80	Add: non-controlling interests	190	210	-10%
4,741	3,365	+41%	2,281	Add: income taxes	11,430	7,314	+56%
3,233	3,075	+5%	3,277	Add: depreciation, depletion and impairment of tangible assets and mineral interests	9,405	9,381	-
116	95	+22%	104	Add: amortization and impairment of intangible assets	301	283	+6%
821	817	-	808	Add: financial interest on debt	2,429	2,349	+3%
(266)	(245)	ns	(235)	Less: financial income and expense from cash & cash equivalents	(733)	(798)	ns
17,809	13,179	*+35%*	10,295	Adjusted EBITDA	43,540	30,489	*+43%*

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

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
				Adjusted items
61,622	57,334	+7%	43,844	Revenues from sales	168,472	136,419	+23%
(37,008)	(37,734)	ns	(26,940)	Purchases, net of inventory variation	(103,861)	(86,036)	ns
(8,160)	(7,954)	ns	(7,555)	Other operating expenses	(24,677)	(22,685)	ns
(134)	(95)	ns	(64)	Exploration costs	(362)	(242)	ns
146	338	-57%	303	Other income	669	1,094	-39%
(222)	(164)	ns	(101)	Other expense, excluding amortization and impairment of intangible assets	(500)	(550)	ns
391	482	-19%	324	Other financial income	1,167	1,040	+12%
(184)	(184)	ns	(208)	Other financial expense	(591)	(660)	ns
1,358	1,156	+17%	692	Net income (loss) from equity affiliates	3,223	2,109	+53%
17,809	13,179	*+35%*	10,295	Adjusted EBITDA	43,540	30,489	*+43%*
				Adjusted items
(3,233)	(3,075)	ns	(3,277)	Less: depreciation, depletion and impairment of tangible assets and mineral interests	(9,405)	(9,381)	ns
(116)	(95)	ns	(104)	Less: amortization of intangible assets	(301)	(283)	ns
(821)	(817)	ns	(808)	Less: financial interest on debt	(2,429)	(2,349)	ns
266	245	+9%	235	Add: financial income and expense from cash & cash equivalents	733	798	-8%
(4,741)	(3,365)	ns	(2,281)	Less: income taxes	(11,430)	(7,314)	ns
(67)	(45)	ns	(80)	Less: non-controlling interests	(190)	(210)	ns
(834)	(589)	ns	(297)	Add: adjustment - TotalEnergies share	(1,007)	(1,529)	ns
8,263	5,438	*+52%*	3,683	Net income - TotalEnergies share	19,511	10,221	*+91%*

INVESTMENTS – DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: (TOTALENERGIES SHARE)

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
4,962	3,276	*+51%*	3,203	Cash flow used in investing activities (a)*	12,550	14,697	*-15%*
(1,815)	-	ns	-	Other transactions with non-controlling interests (b)	(1,815)	-	ns
14	57	-75%	45	Organic loan repayment from equity affiliates (c)	120	105	+14%
-	50	-100%	(242)	Change in debt from renewable projects financing (d) **	64	(463)	ns
88	63	+40%	84	Capex linked to capitalized leasing contracts (e)	226	282	-20%
30	1	x30	2	Expenditures related to carbon credits (f)	59	24	x2.5
3,279	3,447	*-5%*	3,092	Net investments (a + b + c + d + e + f = g - i + h)	11,204	14,645	*-23%*
(1,510)	(1,247)	ns	(381)	of which acquisitions net of assets sales (g-i)	(2,929)	1,851	ns
240	141	+70%	474	Acquisitions (g)	773	3,416	-77%
1,750	1,388	+26%	855	Asset sales (i)	3,702	1,565	x2.4
-	68	-100%	121	Change in debt from renewable projects (partner share)	50	188	-73%
4,789	4,694	+2%	3,473	of which organic investments (h)	14,133	12,794	+10%
137	88	+55%	74	Capitalized exploration	299	222	+34%
413	452	-9%	408	Increase in non-current loans	1,166	1,401	-17%
(202)	(1,017)	ns	(449)	Repayment of non-current loans, excluding organic loan repayment from equity affiliates	(1,495)	(808)	ns
-	118	-100%	(121)	Change in debt from renewable projects (TotalEnergies share)	114	(275)	ns

Cash flows used in investing activities do not include increases in property, plant and equipment arising from Apache’s carry arrangement on the GranMorgu project in offshore Block 58 in Suriname, which resulted in specific supplier financing recognised as financial debt. These increases amounted to $153 million in the second quarter of 2026, $207 million in the third quarter of 2026 and $578 million in the first nine months of 2026. Payments to these suppliers are classified as financing cash flows.

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

INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: EXPLORATION & PRODUCTION

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
3,147	1,822	1,787	*76%*	Cash flow used in investing activities (a) *	7,367	7,582	*-3%*
(647)	–	–	ns	Other transactions with non-controlling interests (b)	(647)	–	ns
–	–	–	ns	Organic loan repayment from equity affiliates (c)	–	–	ns
–	–	–	ns	Change in debt from renewable projects financing (d) **	–	–	ns
70	60	80	-13%	Capex linked to capitalized leasing contracts (e)	201	278	-28%
30	1	2	x15	Expenditures related to carbon credits (f)	59	24	x2.5
2,600	1,883	1,869	*39%*	Net investments (a + b + c + d + e + f = g - i + h)	6,980	7,884	*-11%*
(321)	(348)	(53)	ns	of which acquisitions net of assets sales (g-i)	(896)	225	ns
197	105	522	-62%	Acquisitions (g)	524	1,160	-55%
518	453	575	-10%	Asset sales (i)	1,420	935	52%
–	–	–	ns	Change in debt from renewable projects (partner share)	–	–	ns
2,921	2,231	1,922	*52%*	of which organic investments (h)	7,876	7,659	3%
111	64	70	58%	Capitalized exploration	244	209	17%
42	17	38	11%	Increase in non-current loans	111	162	-31%
(8)	(7)	(47)	ns	Repayment of non-current loans, excluding organic loan repayment from equity affiliates	(28)	(125)	ns
–	–	–	ns	Change in debt from renewable projects (TotalEnergies share)	–	–	ns

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

INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: INTEGRATED LNG

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
327	910	146	*x2.2*	Cash flow used in investing activities ( a )	1,735	1,890	*-8%*
(1,168)	–	–	ns	Other transactions with non-controlling interests ( b )	(1,168)	–	ns
3	–	46	-93%	Organic loan repayment from equity affiliates ( c )	4	47	-91%
–	–	–	ns	Change in debt from renewable projects financing ( d ) *	–	–	ns
4	2	4	ns	Capex linked to capitalized leasing contracts ( e )	9	4	x2.3
–	–	–	ns	Expenditures related to carbon credits ( f )	–	–	ns
(834)	912	196	ns	Net investments ( a + b + c + d + e + f = g - i + h )	580	1,941	*-70%*
(1,162)	4	(134)	ns	of which net acquisitions ( g - i )	(1,066)	116	ns
6	7	(60)	ns	Acquisitions ( g )	105	194	-46%
1,168	3	74	x15.8	Assets sales ( i )	1,171	78	x15
–	–	–	ns	Change in debt (partner share) and capital gain from renewable project sales	–	–	ns
328	908	330	*-1%*	Of which organic investments ( h )	1,646	1,825	*-10%*
26	24	4	x6.5	Capitalized exploration	55	13	x4.2
49	71	174	-72%	Increase in non-current loans	189	543	-65%
(29)	39	(345)	ns	Repayment of non-current loans, excluding organic loan repayment from equity affiliates	(140)	(375)	ns
–	–	–	ns	Change in debt from renewable projects (TotalEnergies share)	–	–	ns

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

INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: INTEGRATED POWER

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
1,100	63	692	*59%*	Cash flow used in investing activities (a)	1,846	3,726	-50%
–	–	–	ns	Other transactions with non-controlling interests (b)	–	–	ns
11	57	(1)	ns	Organic loan repayment from equity affiliates (c)	116	58	100%
–	50	(242)	ns	Change in debt from renewable projects financing (d) *	64	(463)	ns
(1)	1	–	ns	Capex linked to capitalized leasing contracts (e)	1	–	ns
–	–	–	ns	Expenditures related to carbon credits (f)	–	–	ns
1,110	171	449	*x2.5*	Net investments (a + b + c + d + e + f = g - i + h)	2,027	3,321	-39%
(25)	(749)	(147)	ns	of which acquisitions net of assets sales (g-i)	(851)	1,658	ns
35	26	12	x2.9	Acquisitions (g)	64	2,048	-97%
60	775	159	-62%	Asset sales (i)	915	390	x2.3
–	68	121	-100%	Change in debt from renewable projects (partner share)	50	188	-73%
1,135	920	596	*90%*	of which organic investments (h)	2,878	1,663	73%
–	–	–	ns	Capitalized exploration	–	–	ns
250	320	162	54%	Increase in non-current loans	671	580	16%
(15)	(1,014)	(43)	ns	Repayment of non-current loans, excluding organic loan repayment from equity affiliates	(1,101)	(226)	ns
–	118	(121)	ns	Change in debt from renewable projects (TotalEnergies share)	114	(275)	ns

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

INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: REFINING & CHEMICALS

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
149	365	385	*-61%*	Cash flow used in investing activities (a)	1,107	930	19%
–	–	–	ns	Other transactions with non-controlling interests (b)	–	–	ns
–	–	–	ns	Organic loan repayment from equity affiliates (c)	–	–	ns
–	–	–	ns	Change in debt from renewable projects financing (d) *	–	–	ns
–	–	–	ns	Capex linked to capitalized leasing contracts (e)	–	–	ns
–	–	–	ns	Expenditures related to carbon credits (f)	–	–	ns
149	365	385	*-61%*	Net investments (a + b + c + d + e + f = g - i + h)	1,107	930	*19%*
(1)	(1)	(2)	ns	of which acquisitions net of assets sales (g-i)	73	(26)	ns
1	–	–	ns	Acquisitions (g)	76	11	x6.9
2	1	2	ns	Asset sales (i)	3	37	-92%
–	–	–	ns	Change in debt from renewable projects (partner share)	–	–	ns
150	366	387	*-61%*	of which organic investments (h)	1,034	956	8%
–	–	–	ns	Capitalized exploration	–	–	ns
30	32	16	88%	Increase in non-current loans	131	43	x3
(127)	(19)	(15)	ns	Repayment of non-current loans, excluding organic loan repayment from equity affiliates	(169)	(28)	ns
–	–	–	ns	Change in debt from renewable projects (TotalEnergies share)	–	–	ns

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

INVESTMENTS & DIVESTMENTS AND RECONCILIATION OF CASH FLOW USED IN INVESTING ACTIVITIES TO NET INVESTMENTS, TO ACQUISITIONS NET OF ASSETS SALES AND TO ORGANIC INVESTMENTS: MARKETING & SERVICES

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
166	19	160	4%	Cash flow used in investing activities (a)	285	431	*-34%*
–	–	–	ns	Other transactions with non-controlling interests (b)	–	–	ns
–	–	–	ns	Organic loan repayment from equity affiliates (c)	–	–	ns
–	–	–	ns	Change in debt from renewable projects financing (d) *	–	–	ns
–	–	–	ns	Capex linked to capitalized leasing contracts (e)	–	–	ns
–	–	–	ns	Expenditures related to carbon credits (f)	–	–	ns
166	19	160	4%	Net investments (a + b + c + d + e + f = g - i + h)	285	431	*-34%*
(3)	(155)	(43)	ns	of which acquisitions net of assets sales (g-i)	(194)	(121)	ns
–	–	–	ns	Acquisitions (g)	–	3	-100%
3	155	43	-93%	Asset sales (i)	194	124	56%
–	–	–	ns	Change in debt from renewable projects (partner share)	–	–	ns
169	174	203	*-17%*	of which organic investments (h)	479	552	*-13%*
–	–	–	ns	Capitalized exploration	–	–	ns
13	11	18	-28%	Increase in non-current loans	34	62	-45%
(10)	(20)	1	ns	Repayment of non-current loans, excluding organic loan repayment from equity affiliates	(43)	(38)	ns
–	–	–	ns	Change in debt from renewable projects (TotalEnergies share)		-

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

CASH FLOW (TOTALENERGIES SHARE)

Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO), to DACF and to Net cash flow

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
15,390	10,858	*+42%*	8,349	Cash flow from operating activities (a)	29,609	16,872	*+75%*
1,593	1,667	-4%	1,382	(Increase) decrease in working capital (b) *	(3,733)	(3,180)	ns
1,556	(506)	ns	(55)	Inventory effect (c)	2,899	(434)	ns
0	50	-100%	(6)	Capital gain from renewable project sales (d)	72	80	-10%
14	57	-75%	45	Organic loan repayments from equity affiliates (e)	120	105	+14%
12,255	9,804	*+25%*	7,061	Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)	30,635	20,671	*+48%*
(379)	(384)	ns	(382)	Financial charges	(1,166)	(992)	ns
12,634	10,188	*+24%*	7,443	Debt Adjusted Cash Flow (DACF)	31,801	21,663	*+47%*

4,789	4,694	+2%	3,473	Organic investments (g)	14,133	12,794	+10%
7,466	5,110	*+46%*	3,588	Cash flow after organic investments (f - g)	16,502	7,877	*x2.1*

3,279	3,447	-5%	3,092	Net investments (h)	11,204	14,645	-23%
8,976	6,357	*+41%*	3,969	Net cash flow (f - h)	19,431	6,026	*x3.2*

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

CASH FLOW BY SEGMENT

Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Exploration & Production

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
4,905	5,546	4,187	*17%*	Cash flow from operating activities (a)	13,420	11,128	*21%*
(484)	(231)	203	ns	(Increase) decrease in working capital (b)	(2,310)	(907)	ns
–	-	-	ns	Inventory effect (c)	–	-	ns
–	-	-	ns	Capital gain from renewable project sales (d)	–	-	ns
–	-	-	ns	Organic loan repayments from equity affiliates (e)	–	-	ns
5,389	5,777	3,984	*35%*	Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)	15,730	12,035	*31%*

Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Integrated LNG

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
1,213	2,137	789	*54%*	Cash flow from operating activities (a)	2,230	3,071	*-27%*
(508)	1,304	(299)	ns	(Increase) decrease in working capital (b) *	(2,108)	(424)	ns
–	–	–	ns	Inventory effect (c)	–	–	ns
–	–	–	ns	Capital gain from renewable project sales (d)	–	–	ns
3	–	46	-93%	Organic loan repayments from equity affiliates (e)	4	47	-91%
1,724	833	1,134	*52%*	Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)	4,342	3,542	*23%*

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

Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Integrated Power

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
1,636	(239)	674	*x2.4*	Cash flow from operating activities (a)	1,252	1,074	*17%*
873	(853)	56	x15.6	(Increase) decrease in working capital (b) *	(629)	(558)	ns
–	-	-	ns	Inventory effect (c)	–	–	ns
–	50	(6)	ns	Capital gain from renewable project sales (d)	72	80	-10%
11	57	(1)	ns	Organic loan repayments from equity affiliates (e)	116	58	100%
774	721	611	*27%*	Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)	2,069	1,770	*17%*

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

Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Refining & Chemicals

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
6,290	3,565	2,839	*x2.2*	Cash flow from operating activities (a)	11,419	1,743	*x6.6*
1,250	1,929	1,900	-34%	(Increase) decrease in working capital (b)	1,678	(281)	ns
1,097	(394)	(76)	ns	Inventory effect (c)	2,052	(396)	ns
–	–	–	ns	Capital gain from renewable project sales (d)	–	–	ns
–	–	–	ns	Organic loan repayments from equity affiliates (e)	–	–	ns
3,943	2,030	1,015	*x3.9*	Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)	7,689	2,420	*x3.2*

Reconciliation of Cash flow from operating activities to Cash flow from operations excluding working capital (CFFO): Marketing & Services

3Q26	2Q26	3Q25	3Q26 vs 3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
1,622	549	287	*x5.7*	Cash flow from operating activities (a)	3,239	1,483	*x2.2*
484	(186)	(372)	ns	(Increase) decrease in working capital (b)	446	(312)	ns
459	(112)	21	x21.9	Inventory effect (c)	847	(38)	ns
–	–	–	ns	Capital gain from renewable project sales (d)	–	–	ns
–	–	–	ns	Organic loan repayments from equity affiliates (e)	–	–	ns
679	847	638	6%	Cash flow from operations excluding working capital (CFFO) (f = a - b - c + d + e)	1,946	1,833	6%

GEARING RATIO

In millions of dollars	09/30/2026	06/30/2026	09/30/2025
Current borrowings *	11,966	11,229	11,830
Other current financial liabilities	180	209	568
Current financial assets ^,*	(3,327)	(3,720)	(4,607)
Net financial assets classified as held for sale *	731	114	49
Non-current financial debt *	40,960	41,157	41,296
Non-current financial assets *	(2,510)	(1,601)	(1,168)
Cash and cash equivalents	(34,208)	(27,678)	(23,415)
Net debt (a)	13,792	19,710	24,553

Shareholders’ equity - TotalEnergies share	132,698	128,408	115,281
Non-controlling interests	4,268	2,545	2,384
Shareholders' equity (b)	136,966	130,953	117,665

Gearing = a / (a+b)	9.1%	13.1%	17.3%

Leases (c)	8,773	8,904	8,827
Gearing including leases (a+c) / (a+b+c)	14.1%	17.9%	22.1%

Excludes leases receivables and leases debts.

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

RETURN ON AVERAGE CAPITAL EMPLOYED (ROACE)

Twelve months ended September 30, 2026

In millions of dollars	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Company

Adjusted net operating income	10,769	4,932	2,244	8,001	1,570	26,646
Capital employed at 09/30/2025	66,102	43,872	26,960	7,123	7,565	149,974
Capital employed at 09/30/2026	69,581	51,030	29,648	3,087	4,671	156,226
ROACE	15.9%	10.4%	7.9%	156.7%	25.7%	17.4%

Payout¹

In millions of dollars	9M26	9M25	2025
Dividend paid (parent company shareholders)	6,372	5,961	8,121
Repayment of treasury shares excluding fees and taxes	3,744	5,997	7,496

Payout ratio	33%	56%	55%

¹ Payout is a non-GAAP financial measure. Refer to the Glossary on page 25 for the definitions and further information on Non-GAAP measures (alternative performance measures).

RECONCILIATION OF CAPITAL EMPLOYED (BALANCE SHEET) AND CALCULATION OF ROACE


In millions of dollars	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Inter- Company	Company
Adjusted net operating income 3^rd quarter 2026	3,157	1,885	602	3,601	467	(95)	-	9,617
Adjusted net operating income 2^nd quarter 2026	3,231	807	533	1,800	500	(276)	-	6,595
Adjusted net operating income 1^st quarter 2026	2,576	1,318	545	1,599	262	(308)	-	5,992
Adjusted net operating income 4^th quarter 2025	1,805	922	564	1,001	341	(191)	-	4,442
Adjusted net operating income (a)	10,769	4,932	2,244	8,001	1,570	(870)	-	26,646

Balance sheet as of September 30, 2026
Property plant and equipment intangible assets net	88,505	27,132	12,834	13,055	6,432	1,551	–	149,509
Investments & loans in equity affiliates	5,189	21,648	15,838	4,102	855	–	–	47,632
Other non-current assets	1,976	2,879	988	715	1,014	(668)	–	6,904
Inventories, net	1,736	2,458	583	17,556	4,554	–	–	26,887
Accounts receivable, net	6,840	9,890	3,736	28,533	9,876	1,337	(35,500)	24,712
Other current assets	8,569	28,170	7,605	5,959	3,946	3,095	(16,870)	40,474
Accounts payable	(6,372)	(10,374)	(5,298)	(46,961)	(12,760)	(982)	35,571	(47,176)
Other creditors and accrued liabilities	(12,989)	(26,484)	(6,852)	(13,490)	(7,222)	(7,136)	16,799	(57,374)
Working capital	(2,216)	3,660	(226)	(8,403)	(1,606)	(3,686)	–	(12,477)
Provisions and other non-current liabilities	(24,158)	(4,860)	(1,801)	(3,813)	(1,288)	1,012	–	(34,908)
Assets and liabilities classified as held for sale – Capital employed	285	571	2,015	–	–	–	–	2,871
Capital Employed (Balance sheet)	69,581	51,030	29,648	5,656	5,407	(1,791)	–	159,531
Less inventory valuation effect	–	–	–	(2,569)	(736)	–	–	(3,305)
Capital Employed at replacement cost (b)	69,581	51,030	29,648	3,087	4,671	(1,791)	–	156,226

Balance sheet as of September 30, 2025
Property plant and equipment intangible assets net	87,453	29,195	15,681	12,725	7,111	797	–	152,962
Investments & loans in equity affiliates	4,498	16,983	10,257	4,137	1,093	–	–	36,968
Other non-current assets	2,504	2,285	1,705	748	1,083	344	–	8,669
Inventories, net	1,674	1,076	596	10,196	3,516	–	–	17,058
Accounts receivable, net	5,533	5,828	4,045	17,547	8,328	1,300	(22,846)	19,735
Other current assets	7,020	7,252	5,567	2,251	2,889	2,600	(5,746)	21,833
Accounts payable	(6,668)	(6,661)	(6,309)	(30,876)	(9,472)	(901)	22,825	(38,062)
Other creditors and accrued liabilities	(11,225)	(7,587)	(4,810)	(5,175)	(5,546)	(6,690)	5,767	(35,266)
Working capital	(3,666)	(92)	(911)	(6,057)	(285)	(3,691)	–	(14,702)
Provisions and other non-current liabilities	(25,136)	(4,499)	(1,388)	(3,569)	(1,227)	902	–	(34,917)
Assets and liabilities classified as held for sale	449	–	1,616	–	–	–	–	2,065
Capital Employed (Balance sheet)	66,102	43,872	26,960	7,984	7,775	(1,648)	–	151,045
Less inventory valuation effect	–	–	–	(861)	(210)	–	–	(1,071)
Capital Employed at replacement cost (c)	66,102	43,872	26,960	7,123	7,565	(1,648)	–	149,974
ROACE as a percentage (a/average(b+c))	15.9%	10.4%	7.9%	156.7%	25.7%	–	–	17.4%

GLOSSARY

Acquisitions net of assets sales is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow used in investing activities. Acquisitions net of assets sales refer to acquisitions minus assets sales (including other operations with non-controlling interests). This indicator can be a valuable tool for decision makers, analysts and shareholders alike because it illustrates the allocation of cash flow used for growing the Company’s asset base via external growth opportunities.

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 (energy sector).

Adjusted net income (TotalEnergies share) is a non-GAAP financial measure and its most directly comparable IFRS measure is Net Income (TotalEnergies share). Adjusted Net Income (TotalEnergies share) refers to Net Income (TotalEnergies share) less adjustment items to Net Income (TotalEnergies share). 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 Income before net cost of net debt, i.e., cost of net debt net of its tax effects, less adjustment items. Adjustment items are inventory valuation effect, effect of changes in fair value, and special items. Adjusted Net Operating Income 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 Average Capital Employed (ROACE) as explained below.

Capital Employed is a non-GAAP financial measure. They are calculated at replacement cost and refer to capital employed (balance sheet) less inventory valuations effect. Capital employed (balance sheet) refers to the sum of the following items: (i) Property, plant and equipment, intangible assets, net, (ii) Investments & loans in equity affiliates, (iii) Other non-current assets, (iv) Working capital which is the sum of: Inventories, net, Accounts receivable, net, other current assets, Accounts payable, Other creditors and accrued liabilities, (v) Provisions and other non-current liabilities and (vi) Assets and liabilities classified as held for sale. Capital Employed can be a valuable tool for decision makers, analysts and shareholders alike to provide insight on the amount of capital investment used by the Company or its business segments to operate. Capital Employed is used to calculate the Return on Average Capital Employed (ROACE).

Cash flow after Organic Investments is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Cash flow after Organic Investments, refers to Cash Flow From Operations excluding working capital 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.

Cash Flow From Operations excluding working capital (CFFO) is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Cash Flow From Operations excluding working capital 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 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.

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 Cash Flow From Operations excluding working capital (CFFO) 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.

ESRS perimeter: the GHG emissions within the ESRS perimeter correspond to 100% of the emissions from operated sites, plus the equity share of emissions from non-operated and financially consolidated assets excluding equity affiliates.

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.

Normalized Gearing is an indicator defined as the gearing excluding the impact of seasonal variations, notably on working capital.

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 Cash Flow From Operations excluding working capital minus Net Investments. 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 Acquisitions net of assets sales (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.

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, including capex linked to capitalized leasing contracts and excluding organic loan repayment from equity affiliates. This indicator can be a valuable tool for decision makers, analysts and shareholders alike to illustrate the cash directed to growth opportunities, both internal and external, thereby showing, when combined with the Company’s cash flow statement prepared under IFRS, how cash is generated and allocated for uses within the organization. Net Investments are the sum of Organic Investments and Acquisitions net of assets sales each of which is described in the Glossary.

Organic investments is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow used in investing activities. Organic investments refers to Net Investments, excluding acquisitions, asset sales and other operations with non-controlling interests. Organic Investments can be a valuable tool for decision makers, analysts and shareholders alike because it illustrates cash flow used by the Company to grow its asset base, excluding sources of external growth.

Operated perimeter: activities, sites and industrial assets of which TotalEnergies SE or one of its subsidiaries has operational control, i.e. has the responsibility of the conduct of operations on behalf of all its partners. For the operated perimeter, the indicators are reported 100%, regardless of the Company’s equity interest in the asset.

Payout is a non-GAAP financial measure. Payout is defined as the ratio of the dividends and share buybacks for cancellation to the Cash Flow From Operations excluding working capital. This indicator can be a valuable tool for decision makers, analysts and shareholders as it provides the portion of the Cash Flow From Operations excluding working capital distributed to the shareholder.

Return on Average Capital Employed (ROACE) is a non-GAAP financial measure. 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 average Capital Employed in its business operations and is used by the Company to benchmark its performance internally and externally with its peers.

Consolidated statement of income

TotalEnergies

(unaudited)

	3rd quarter	2nd quarter	3rd quarter
(M$)^(a)	2026	2026	2025
Sales	66,819	61,771	48,691
Excise taxes	(4,960)	(4,674)	(4,847)
Revenue from sales	61,859	57,097	43,844
Purchases, net of inventory variation	(35,205)	(38,308)	(27,191)
Other operating expenses	(8,719)	(8,038)	(7,591)
Exploration costs	(134)	(95)	(64)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,180)	(3,075)	(3,280)
Other income	146	330	778
Other expense	(403)	(279)	(528)
Financial interest on debt	(821)	(817)	(808)
Financial income and expense from cash & cash equivalents	266	245	265
Cost of net debt	(555)	(572)	(543)
Other financial income	391	482	366
Other financial expense	(184)	(184)	(208)
Net income (loss) from equity affiliates	427	1,271	602
Income taxes	(5,080)	(3,154)	(2,423)
Consolidated net income	8,363	5,475	3,762
TotalEnergies share	8,263	5,438	3,683
Non-controlling interests	100	37	79
Earning per share ($)	3.69	2.44	1.65
Diluted earnings per share ($)	3.66	2.41	1.64
(a) Except for per share amounts.

Consolidated statement of comprehensive income

TotalEnergies

(unaudited)

	3rd quarter	2nd quarter	3rd quarter
(M$)	2026	2026	2025
Consolidated net income	8,363	5,475	3,762
Other comprehensive income
Actuarial gains and losses	–	21	(2)
Change in fair value of investments in equity instruments	(74)	(29)	(96)
Tax effect	25	(7)	19
Currency translation adjustment generated by the parent company	(311)	(857)	(2)
Items not potentially reclassifiable to profit and loss	(360)	(872)	(81)
Currency translation adjustment	125	573	(230)
Cash flow hedge	2,510	454	(346)
Variation of foreign currency basis spread	7	1	6
Share of other comprehensive income of equity affiliates, net amount	327	63	(112)
Other	1	2	5
Tax effect	(650)	(113)	81
Items potentially reclassifiable to profit and loss	2,320	980	(596)
Total other comprehensive income (net amount)	1,960	108	(677)
Comprehensive income	10,323	5,583	3,085
– TotalEnergies share	10,226	5,531	3,001
– Non-controlling interests	97	52	84

Consolidated statement of income

TotalEnergies

(unaudited)

(M$)^(a)	9 months 2026	9 months 2025
Sales	182,753	150,572
Excise taxes	(14,281)	(14,153)
Revenue from sales	168,472	136,419
Purchases, net of inventory variation	(100,860)	(87,204)
Other operating expenses	(25,432)	(22,989)
Exploration costs	(362)	(242)
Depreciation, depletion and impairment of tangible assets and mineral interests	(10,461)	(9,536)
Other income	947	1,569
Other expenses	(1,907)	(1,106)
Financial interest on debt	(2,429)	(2,349)
Financial income and expenses from cash & cash equivalents	733	882
Cost of net debt	(1,696)	(1,467)
Other financial income	1,167	1,113
Other financial expense	(591)	(660)
Net income (loss) from equity affiliates	2,515	1,794
Income taxes	(12,022)	(7,262)
Consolidated net income	19,770	10,429
TotalEnergies share	19,511	10,221
Non-controlling interests	259	208
Earnings per share ($)	8.82	4.53
Diluted earnings per share ($)	8.73	4.49
(a) Except for per share amounts.

Consolidated statement of comprehensive income

TotalEnergies

(unaudited)

(M$)	9 months 2026	9 months 2025
Consolidated net income	19,770	10,429
Other comprehensive income
Actuarial gains and losses	22	14
Change in fair value of investments in equity instruments	9	(32)
Tax effect	(7)	–
Currency translation adjustment generated by the parent company	(2,960)	8,688
Items not potentially reclassifiable to profit and loss	(2,936)	8,670
Currency translation adjustment	2,602	(6,939)
Cash flow hedge	3,901	(1,014)
Variation of foreign currency basis spread	12	25
Share of other comprehensive income of equity affiliates, net amount	545	(386)
Other	4	12
Tax effect	(998)	237
Items potentially reclassifiable to profit and loss	6,066	(8,065)
Total other comprehensive income (net amount)	3,130	605
Comprehensive income	22,900	11,034
– TotalEnergies share	22,641	10,760
– Non-controlling interests	259	274

Consolidated balance sheet

TotalEnergies

	September 30, 2026	June 30, 2026	December 31, 2025	September 30, 2025
(M$)	(unaudited)	(unaudited)		(unaudited)
ASSETS
Non-current assets
Intangible assets, net	34,488	35,631	37,345	37,764
Property, plant and equipment, net	115,021	117,889	114,694	115,198
Equity affiliates: investments and loans	47,632	44,663	38,090	36,968
Other investments	1,977	2,099	1,914	2,046
Non-current financial assets	3,551	2,702	3,270	2,426
Deferred income taxes	2,111	2,939	3,358	3,633
Other non-current assets	2,816	2,573	2,915	2,990
Total non-current assets	207,596	208,496	201,586	201,025
Current assets
Inventories, net	26,887	21,373	16,663	17,058
Accounts receivables, net	24,712	21,184	18,559	19,735
Other current assets	40,474	28,976	20,437	21,833
Current financial assets	3,595	4,039	3,332	4,884
Cash and cash equivalents	34,208	27,678	26,202	23,415
Assets classified as held for sale	4,456	2,015	4,276	4,009
Total current assets	134,332	105,265	89,469	90,934
Total assets	341,928	313,761	291,055	291,959

LIABILITIES & SHAREHOLDERS' EQUITY
Shareholders' equity
Common shares	7,280	7,280	7,059	7,059
Paid-in surplus and retained earnings	146,280	139,898	125,860	125,073
Currency translation adjustment	(14,182)	(14,146)	(14,033)	(13,853)
Treasury shares	(6,680)	(4,624)	(4,003)	(2,998)
Total shareholders' equity - TotalEnergies share	132,698	128,408	114,883	115,281
Non-controlling interests	4,268	2,545	2,640	2,384
Total shareholders' equity	136,966	130,953	117,523	117,665
Non-current liabilities
Deferred income taxes	14,181	13,347	12,634	12,830
Employee benefits	2,006	1,996	2,018	1,991
Provisions and other non-current liabilities	18,721	18,734	17,322	20,096
Non-current financial debt	49,090	49,525	48,995	49,552
Total non-current liabilities	83,998	83,602	80,969	84,469
Current liabilities
Accounts payable	47,176	41,438	38,065	38,062
Other creditors and accrued liabilities	57,374	43,108	36,344	35,266
Current borrowings	13,901	13,183	12,038	13,820
Other current financial liabilities	180	209	388	568
Liabilities directly associated with the assets classified as held for sale	2,333	1,268	5,728	2,109
Total current liabilities	120,964	99,206	92,563	89,825
Total liabilities & shareholders' equity	341,928	313,761	291,055	291,959

Consolidated statement of cash flow

TotalEnergies

(unaudited)

	3rd quarter		2nd quarter		3rd quarter
(M$)	2026		2026		2025
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income	8,363		5,475		3,762
Depreciation, depletion, amortization and impairment	4,342		3,097		3,405
Non-current liabilities, valuation allowances and deferred taxes	1,166		599		272
(Gains) losses on disposals of assets	52		(266	)	(603	)
Undistributed affiliates' equity earnings	333		(65	)	(195	)
(Increase) decrease in working capital	921		1,663		1,600
Other changes, net	213		355		108
Cash flow from operating activities	15,390		10,858		8,349
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions	(4,449	)	(4,232	)	(3,812	)
Acquisitions of subsidiaries, net of cash acquired	–		(6	)	–
Investments in equity affiliates and other securities	(252	)	(561	)	(215	)
Increase in non-current loans	(413	)	(452	)	(408	)
Total expenditures	(5,114	)	(5,251	)	(4,435	)
Proceeds from disposals of intangible assets and property, plant and equipment	(114	)	500		613
Proceeds from disposals of subsidiaries, net of cash sold	10		135		133
Proceeds from disposals of non-current investments	40		266		(8	)
Repayment of non-current loans	216		1,074		494
Total divestments	152		1,975		1,232
Cash flow used in investing activities	(4,962	)	(3,276	)	(3,203	)
CASH FLOW FROM FINANCING ACTIVITIES
Issuance (repayment) of shares:
– Parent company shareholders	(2	)	363		–
– Treasury shares	(1,505	)	(1,511	)	(2,349	)
Dividends paid:
– Parent company shareholders	(2,155	)	(2,094	)	(2,216	)
– Non-controlling interests	(136	)	(166	)	(89	)
Net issuance (repayment) of perpetual subordinated notes	–		–		–
Payments on perpetual subordinated notes	(22	)	(40	)	(26	)
Other transactions with non-controlling interests	1,771		(37	)	23
Net issuance (repayment) of non-current debt	62		84		3,682
Increase (decrease) in current borrowings	(2,033	)	(1,994	)	(1,962	)
Increase (decrease) in current financial assets and liabilities	323		127		529
Cash flow / (used in) financing activities	(3,697	)	(5,268	)	(2,408	)
Net increase (decrease) in cash and cash equivalents	6,731		2,314		2,738
Effect of exchange rates	(201	)	(329	)	253
Cash and cash equivalents at the beginning of the period	27,678		25,693		20,424
Cash and cash equivalents at the end of the period	34,208		27,678		23,415

Consolidated statement of cash flow

TotalEnergies

(unaudited)

(M$)	9 months 2026		9 months 2025
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income	19,770		10,429
Depreciation, depletion, amortization and impairment	11,588		9,851
Non-current liabilities, valuation allowances and deferred taxes	2,356		608
(Gains) losses on disposals of assets	(534	)	(913	)
Undistributed affiliates' equity earnings	81		(720	)
(Increase) decrease in working capital	(4,384	)	(2,583	)
Other changes, net	732		200
Cash flow from operating activities	29,609		16,872
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions	(13,302	)	(12,800	)
Acquisitions of subsidiaries, net of cash acquired	(85	)	(1,859	)
Investments in equity affiliates and other securities	(1,034	)	(945	)
Increase in non-current loans	(1,166	)	(1,401	)
Total expenditures	(15,587	)	(17,005	)
Proceeds from disposals of intangible assets and property, plant and equipment	567		983
Proceeds from disposals of subsidiaries, net of cash sold	542		404
Proceeds from disposals of non-current investments	313		8
Repayment of non-current loans	1,615		913
Total divestments	3,037		2,308
Cash flow used in investing activities	(12,550	)	(14,697	)
CASH FLOW FROM FINANCING ACTIVITIES
Issuance (repayment) of shares:
– Parent company shareholders	361		492
– Treasury shares	(3,791	)	(6,208	)
Dividends paid:
– Parent company shareholders	(6,372	)	(5,961	)
– Non-controlling interests	(311	)	(401	)
Net issuance (repayment) of perpetual subordinated notes	1,751		(1,139	)
Payments on perpetual subordinated notes	(216	)	(181	)
Other transactions with non-controlling interests	1,718		(28	)
Net issuance (repayment) of non-current debt	3,730		7,370
Increase (decrease) in current borrowings	(5,310	)	(2,168	)
Increase (decrease) in current financial assets and liabilities	(19	)	2,534
Cash flow / (used in) financing activities	(8,459	)	(5,690	)
Net increase (decrease) in cash and cash equivalents	8,600		(3,515	)
Effect of exchange rates	(594	)	1,086
Cash and cash equivalents at the beginning of the period	26,202		25,844
Cash and cash equivalents at the end of the period	34,208		23,415

Consolidated statement of changes in shareholders' equity

TotalEnergies

(unaudited)

	Common shares issued				Paid-in surplus		Currency		Treasury shares				Shareholders' equity -		Non-		Total
(M$)	Number		Amount		and retained earnings		translation adjustment		Number		Amount		TotalEnergies Share		controlling interests		shareholders' equity
As of January 1, 2025	2,397,679,661		7,577		135,496		(15,259	)	(149,529,818	)	(9,956	)	117,858		2,397		120,255
Net income of the first nine months 2025	–		–		10,221		–		–		–		10,221		208		10,429
Other comprehensive income	–		–		(867	)	1,406		–		–		539		66		605
Comprehensive income	–		–		9,354		1,406		–		–		10,760		274		11,034
Dividend	–		–		(6,103	)	–		–		–		(6,103	)	(267	)	(6,370	)
Issuance of common shares	11,149,053		30		462		–		–		–		492		–		492
Purchase of treasury shares	–		–		–		–		(99,060,045	)	(6,520	)	(6,520	)	–		(6,520	)
Sale of treasury shares^(a)	–		–		(414	)	–		6,218,249		414		–		–		–
Share-based payments	–		–		463		–		–		–		463		–		463
Share cancellation	(202,243,171	)	(548	)	(12,704	)	–		202,243,171		13,064		(188	)	–		(188	)
Net issuance (repayment) of perpetual subordinated notes	–		–		(1,219	)	–		–		–		(1,219	)	–		(1,219	)
Payments on perpetual subordinated notes	–		–		(238	)	–		–		–		(238	)	–		(238	)
Other operations with non-controlling interests	–		–		(6	)	–		–		–		(6	)	(22	)	(28	)
Other items	–		–		(18	)	–		–		–		(18	)	2		(16	)
As of September 30, 2025	2,206,585,543		7,059		125,073		(13,853	)	(40,128,443	)	(2,998	)	115,281		2,384		117,665
Net income of the fourth quarter 2025	–		–		2,906		–		–		–		2,906		22		2,928
Other comprehensive income	–		–		(130	)	(180	)	–		–		(310	)	11		(299	)
Comprehensive income	–		–		2,776		(180	)	–		–		2,596		33		2,629
Dividend	–		–		(2,032	)	–		–		–		(2,032	)	(81	)	(2,113	)
Issuance of common shares	–		–		–		–		–		–		–		–		–
Purchase of treasury shares	–		–		–		–		(23,577,249	)	(1,006	)	(1,006	)	–		(1,006	)
Sale of treasury shares^(a)	–		–		–		–		3,163		–		–		–		–
Share-based payments	–		–		122		–		–		–		122		–		122
Share cancellation	–		–		–		–		–		–		–		–		–
Net issuance (repayment) of perpetual subordinated notes	–		–		–		–		–		–		–		–		–
Payments on perpetual subordinated notes	–		–		(82	)	–		–		–		(82	)	–		(82	)
Other operations with non-controlling interests	–		–		5		–		–		–		5		308		313
Other items	–		–		(2	)	–		–		1		(1	)	(4	)	(5	)
As of December 31, 2025	2,206,585,543		7,059		125,860		(14,033	)	(63,702,529	)	(4,003	)	114,883		2,640		117,523
Net income of the first nine months 2026	–		–		19,511		–		–		–		19,511		259		19,770
Other comprehensive income	–		–		3,279		(149	)	–		–		3,130		–		3,130
Comprehensive income	–		–		22,790		(149	)	–		–		22,641		259		22,900
Dividend	–		–		(6,814	)	–		–		–		(6,814	)	(311	)	(7,125	)
Issuance of common shares	100,985,040		295		6,090		–		–		–		6,385		–		6,385
Purchase of treasury shares	–		–		–		–		(43,827,303	)	(4,710	)	(4,710	)	–		(4,710	)
Sale of treasury shares^(a)	–		–		(426	)	–		6,640,933		426		–		–		–
Share-based payments	–		–		510		–		–		–		510		–		510
Share cancellation	(25,913,869	)	(74	)	(1,564	)	–		25,913,869		1,607		(31	)	–		(31	)
Net issuance (repayment) of perpetual subordinated notes	–		–		91		–		–		–		91		–		91
Payments on perpetual subordinated notes	–		–		(281	)	–		–		–		(281	)	–		(281	)
Other operations with non-controlling interests	–		–		24		–		–		–		24		1,704		1,728
Other items	–		–		–		–		–		–		–		(24	)	(24	)
As of September 30, 2026	2,281,656,714		7,280		146,280		(14,182	)	(74,975,030	)	(6,680	)	132,698		4,268		136,966

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

Information by business segment

TotalEnergies

(unaudited)

3rd quarter 2026 (M$)	Exploration & Production		Integrated LNG		Integrated Power		Refining & Chemicals		Marketing & Services		Corporate		Intercompany		Total
External sales	1,644		3,470		4,221		30,778		26,693		13		–		66,819
Intersegment sales	10,528		1,934		1,985		11,409		228		33		(26,117	)	–
Excise taxes	–		–		–		(188	)	(4,772	)	–		–		(4,960	)
Revenues from sales	12,172		5,404		6,206		41,999		22,149		46		(26,117	)	61,859
Operating expenses	(4,481	)	(2,939	)	(5,472	)	(36,267	)	(20,804	)	(212	)	26,117		(44,058	)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,017	)	(405	)	(1,017	)	(428	)	(282	)	(31	)	–		(4,180	)
Net income (loss) from equity affiliates and other items	229		610		199		(584	)	(47	)	(30	)	–		377
Tax on net operating income	(2,873	)	(648	)	(136	)	(1,306	)	(328	)	109		–		(5,182	)
Adjustments^(a)	(127	)	137		(822	)	(187	)	221		(23	)	–		(801	)
Adjusted net operating income	3,157		1,885		602		3,601		467		(95	)	–		9,617
Adjustments^(a)															(801	)
Net cost of net debt															(453	)
Non-controlling interests															(100	)
Net income - TotalEnergies share															8,263

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

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

3rd quarter 2026 (M$)	Exploration & Production		Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	3,026		359	1,186	278	180	85		–	5,114
Total divestments	(121	)	32	86	129	14	12		–	152
Cash flow from operating activities	4,905		1,213	1,636	6,290	1,622	(276	)	–	15,390

September 30, 2026 - Notes to the consolidated financial statements - 34

Information by business segment

TotalEnergies

(unaudited)

2nd quarter 2026 (M$)	Exploration & Production		Integrated LNG		Integrated Power		Refining & Chemicals		Marketing & Services		Corporate		Intercompany		Total
External sales	1,830		1,880		3,846		28,792		25,422		1		–		61,771
Intersegment sales	9,221		2,258		1,511		11,058		260		41		(24,349	)	–
Excise taxes	–		–		–		(164	)	(4,510	)	–		–		(4,674	)
Revenues from sales	11,051		4,138		5,357		39,686		21,172		42		(24,349	)	57,097
Operating expenses	(3,629	)	(3,469	)	(5,105	)	(37,806	)	(20,465	)	(316	)	24,349		(46,441	)
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,920	)	(413	)	(74	)	(404	)	(233	)	(31	)	–		(3,075	)
Net income (loss) from equity affiliates and other items	292		767		302		204		86		(31	)	–		1,620
Tax on net operating income	(2,570	)	(167	)	(36	)	(259	)	(183	)	12		–		(3,203	)
Adjustments^(a)	(7	)	49		(89	)	(379	)	(123	)	(48	)	–		(597	)
Adjusted net operating income	3,231		807		533		1,800		500		(276	)	–		6,595
Adjustments^(a)															(597	)
Net cost of net debt															(523	)
Non-controlling interests															(37	)
Net income - TotalEnergies share															5,438
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

2nd quarter 2026 (M$)	Exploration & Production	Integrated LNG		Integrated Power		Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	2,282	874		1,419		385	197	94		–	5,251
Total divestments	460	(36	)	1,356		20	178	(3	)	–	1,975
Cash flow from operating activities	5,546	2,137		(239	)	3,565	549	(700	)	–	10,858

September 30, 2026 - Notes to the consolidated financial statements - 35

Information by business segment

TotalEnergies

(unaudited)

3rd quarter 2025 (M$)	Exploration & Production		Integrated LNG		Integrated Power		Refining & Chemicals		Marketing & Services		Corporate		Intercompany		Total
External sales	1,392		1,995		3,955		21,205		20,138		6		–		48,691
Intersegment sales	8,892		1,587		434		7,122		234		38		(18,307	)	–
Excise taxes	–		–		–		(201	)	(4,646	)	–		–		(4,847	)
Revenues from sales	10,284		3,582		4,389		28,126		15,726		44		(18,307	)	43,844
Operating expenses	(4,200	)	(2,880	)	(3,863	)	(27,069	)	(14,916	)	(225	)	18,307		(34,846	)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,145	)	(376	)	(103	)	(380	)	(243	)	(33	)	–		(3,280	)
Net income (loss) from equity affiliates and other items	522		492		(52	)	75		(24	)	(3	)	–		1,010
Tax on net operating income	(2,055	)	(97	)	(110	)	(143	)	(177	)	115		–		(2,467	)
Adjustments^(a)	237		(131	)	(310	)	(78	)	(14	)	(22	)	–		(318	)
Adjusted net operating income	2,169		852		571		687		380		(80	)	–		4,579
Adjustments^(a)															(318	)
Net cost of net debt															(499	)
Non-controlling interests															(79	)
Net income - TotalEnergies share															3,683
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

3rd quarter 2025 (M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	2,409	611	773	402	205	35		–	4,435
Total divestments	622	465	81	17	45	2		–	1,232
Cash flow from operating activities	4,187	789	674	2,839	287	(427	)	–	8,349

September 30, 2026 - Notes to the consolidated financial statements - 36

Information by business segment

TotalEnergies

(unaudited)

9 months 2026 (M$)	Exploration & Production		Integrated LNG		Integrated Power		Refining & Chemicals		Marketing & Services		Corporate		Intercompany		Total
External sales	4,593		8,280		13,508		83,750		72,604		18		–		182,753
Intersegment sales	28,752		7,002		4,223		30,682		607		107		(71,373	)	–
Excise taxes	–		–		–		(519	)	(13,762	)	–		–		(14,281	)
Revenues from sales	33,345		15,282		17,731		113,913		59,449		125		(71,373	)	168,472
Operating expenses	(11,399	)	(10,560	)	(16,287	)	(102,743	)	(56,262	)	(776	)	71,373		(126,654	)
Depreciation, depletion and impairment of tangible assets and mineral interests	(5,902	)	(1,239	)	(1,254	)	(1,235	)	(745	)	(86	)	–		(10,461	)
Net income (loss) from equity affiliates and other items	907		1,830		(312	)	(155	)	(81	)	(58	)	–		2,131
Tax on net operating income	(7,869	)	(1,131	)	(225	)	(2,261	)	(758	)	22		–		(12,222	)
Adjustments^(a)	118		172		(2,027	)	519		374		(94	)	–		(938	)
Adjusted net operating income	8,964		4,010		1,680		7,000		1,229		(679	)	–		22,204
Adjustments^(a)															(938	)
Net cost of net debt															(1,496	)
Non-controlling interests															(259	)
Net income - TotalEnergies share															19,511
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

9 months 2026 (M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	8,168	1,882	3,506	1,279	529	223		–	15,587
Total divestments	801	147	1,660	172	244	13		–	3,037
Cash flow from operating activities	13,420	2,230	1,252	11,419	3,239	(1,951	)	–	29,609

September 30, 2026 - Notes to the consolidated financial statements - 37

Information by business segment

TotalEnergies

(unaudited)

9 months 2025 (M$)	Exploration & Production		Integrated LNG		Integrated Power		Refining & Chemicals		Marketing & Services		Corporate		Intercompany		Total
External sales	4,330		7,669		13,880		65,591		59,083		19		–		150,572
Intersegment sales	26,481		6,708		1,819		20,939		567		95		(56,609	)	–
Excise taxes	–		–		–		(567	)	(13,586	)	–		–		(14,153	)
Revenues from sales	30,811		14,377		15,699		85,963		46,064		114		(56,609	)	136,419
Operating expenses	(12,577	)	(11,468	)	(14,527	)	(83,712	)	(44,041	)	(719	)	56,609		(110,435	)
Depreciation, depletion and impairment of tangible assets and mineral interests	(6,073	)	(1,164	)	(286	)	(1,239	)	(684	)	(90	)	–		(9,536	)
Net income (loss) from equity affiliates and other items	713		1,635		332		25		79		(74	)	–		2,710
Tax on net operating income	(6,176	)	(538	)	(210	)	(238	)	(443	)	246		–		(7,359	)
Adjustments^(a)	104		(345	)	(643	)	(578	)	(57	)	(67	)	–		(1,586	)
Adjusted net operating income	6,594		3,187		1,651		1,377		1,032		(456	)	–		13,385
Adjustments^(a)															(1,586	)
Net cost of net debt															(1,370	)
Non-controlling interests															(208	)
Net income - TotalEnergies share															10,221
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

9 months 2025 (M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	8,642	2,390	4,212	995	611	155		–	17,005
Total divestments	1,060	500	486	65	180	17		–	2,308
Cash flow from operating activities	11,128	3,071	1,074	1,743	1,483	(1,627	)	–	16,872

September 30, 2026 - Notes to the consolidated financial statements - 38

TotalEnergies

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE FIRST NINE MONTHS 2026

(unaudited)

Basis of preparation of the consolidated financial statements

The condensed 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 condensed consolidated financial statements of TotalEnergies SE and its subsidiaries (the Company) as of September 30, 2026, 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 condensed consolidated financial statements at September 30, 2026, are consistent with those used for the financial statements at December 31, 2025.

The preparation of financial statements in accordance with IFRS for the closing as of September 30, 2026 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, 2025.

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.

Significant accounting principles applicable in the future

The application of the standards or interpretations published respectively by the International Accounting Standards Board (IASB) and the International Financial Reporting Standards Interpretations Committee (IFRS IC) which were not yet in effect is expected to have a non material impact. Note that IFRS 18, published in April 2024 and applicable from January 1, 2027, will modify the presentation of the consolidated statement of income and the consolidated statement of cash flow.

Changes in the Company structure

2.1

Main acquisitions and divestments

Exploration & Production

On March 30, 2026, TotalEnergies has completed the merger between NEO NEXT and TotalEnergies' UK Upstream Oil & Gas business.

The combined group is renamed NEO NEXT+ and is owned by TotalEnergies (47.5%), HitechVision (28.875%) and Repsol UK (23.625%) exercising joint control. Further to this transaction, NEO NEXT+ becomes the largest independent Oil and Gas producer on the UK Continental Shelf.

As of September 30, 2026, TotalEnergies' interest is accounted for using the equity method.

On September 16, 2026, TotalEnergies has completed a transaction with Global Infrastructure Partners (GIP), a part of BlackRock, relating to energy infrastructure assets in Africa. In exchange for a US$1.8 billion capital contribution, TotalEnergies will pay GIP a throughput-based tariff over a period of up to 15 years.

This transaction was treated as a sale of a non-controlling interest in the financial statements.

Integrated Power

On April 29, 2026, TotalEnergies has completed the acquisition agreed on November 16, 2025 of 50% of EPH’s flexible power generation platform in Western Europe. This transaction leads to the creation of TTEP, the 2^nd largest flexgen player in Europe, which owns and operates, through its subsidiaries, flexible natural gas and biomass-based power plants and BESS assets across Italy, the United Kingdom, Ireland, the Netherlands and France, for a total capacity of 14 GW installed or in construction.

Pursuant to the powers delegated to it by the Shareholders’ Meeting of May 24, 2024, the TotalEnergies SE Board of Directors has approved the issuance of 95.4 million shares to EPH, representing approximately 4.2% of TotalEnergies’ share capital, for a total amount of €5,147.5 million, comprising €238.6 million of share capital and €4,908.9 million of share premium, based on an issue price of €53.94 per share.

As of September 30, 2026, TotalEnergies' interest in TTEP is accounted for using the equity method.

September 30, 2026 - Notes to the consolidated financial statements - 1

2.2

Major business combinations

TotalEnergies did not complete any significant business combination during the first nine months of 2026.

2.3

Major divestment projects

Exploration & Production

On July 17, 2024, TotalEnergies announced that its subsidiary TotalEnergies EP Nigeria had signed a sale and purchase agreement (SPA) with Chappal Energies for the sale of its 10% interest in the Renaissance JV (formerly “SPDC JV”) licenses in Nigeria, for which the conditions precedent to closing could not be met. On January 13, 2026, TotalEnergies EP Nigeria signed a new sale agreement with Vaaris. The closing of the operation occurred on October 26, 2026.

As of September 30, 2026, the assets and liabilities are respectively classified in the consolidated balance sheet as “Assets classified as held for sale” for an amount of $1,578 million and “Liabilities classified as held for sale” for an amount of $1,293 million. These assets mainly include tangible assets.

On September 7, 2026, TotalEnergies announced that Papua LNG has achieved contractual and commercial milestones, including the sale of a 9.1% interest (post back-in of Kumul Petroleum) in the project to its Papua LNG partners, in proportion to their existing participating interests. Operatorship of the project will be transferred to ExxonMobil, operator of PNG LNG. TotalEnergies will retain a 20% interest in the project, while maintaining its LNG offtake share of the project.

As of September 30, 2026, the assets and liabilities are respectively classified in the consolidated balance sheet as “Assets classified as held for sale” for an amount of $579 million and “Liabilities classified as held for sale” for an amount of $8 million. These assets mainly include tangible assets.

Integrated Power

On August 3, 2026, TotalEnergies announced the signing of an agreement with an insurance account managed by KKR for the sale of a 50% stake in a 1.2 GW onshore solar and wind asset portfolio in Europe.

The transaction covers a portfolio of assets in Germany, Spain, France and Poland. TotalEnergies will retain a 50% stake in the assets.

As of September 30, 2026, the assets and liabilities are respectively classified in the consolidated balance sheet as “Assets classified as held for sale” for an amount of $1,694 million and “Liabilities classified as held for sale” for an amount of $863 million. These assets mainly include tangible assets.

September 30, 2026 - Notes to the consolidated financial statements - 2

Business segment information

Description of the business segments

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

Sales prices for transactions between business segments approximate market prices.

The reporting structure for the business segments’ financial information is based on the following five business segments:

–

An Exploration & Production segment that encompasses the activities of exploration and production of oil and natural gas, as well as carbon storage activities, conducted in about 50 countries;

–

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

–

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.

Definition of the indicators

Adjusted Net Operating Income

TotalEnergies measures performance at the segment level on the basis of adjusted net operating income. Adjusted net operating income comprises operating income of the relevant segment after deducting the amortization and the depreciation of intangible assets other than mineral interest, translation adjustments and gains or losses on the sale of assets, as well as all other income and expenses related to capital employed (dividends from non-consolidated companies, income from equity affiliates and capitalized interest expenses) and after income taxes applicable to the above, excluding the effect of the adjustments describe below.

Adjustment items include:

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. 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 qualify as special items although they may have occurred in prior years or are likely to occur in following years.

The 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 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 under the FIFO and the replacement cost method.

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, whose future effects 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.

September 30, 2026 - Notes to the consolidated financial statements - 3

3.1

Information by business segment

9 months 2026 (M$)	Exploration & Production		Integrated LNG		Integrated Power		Refining & Chemicals		Marketing & Services		Corporate		Intercompany		Total
External sales	4,593		8,280		13,508		83,750		72,604		18		–		182,753
Intersegment sales	28,752		7,002		4,223		30,682		607		107		(71,373	)	–
Excise taxes	–		–		–		(519	)	(13,762	)	–		–		(14,281	)
Revenues from sales	33,345		15,282		17,731		113,913		59,449		125		(71,373	)	168,472
Operating expenses	(11,399	)	(10,560	)	(16,287	)	(102,743	)	(56,262	)	(776	)	71,373		(126,654	)
Depreciation, depletion and impairment of tangible assets and mineral interests	(5,902	)	(1,239	)	(1,254	)	(1,235	)	(745	)	(86	)	–		(10,461	)
Net income (loss) from equity affiliates and other items	907		1,830		(312	)	(155	)	(81	)	(58	)	–		2,131
Tax on net operating income	(7,869	)	(1,131	)	(225	)	(2,261	)	(758	)	22		–		(12,222	)
Adjustments^(a)	118		172		(2,027	)	519		374		(94	)	–		(938	)
Adjusted net operating income	8,964		4,010		1,680		7,000		1,229		(679	)	–		22,204
Adjustments^(a)															(938	)
Net cost of net debt															(1,496	)
Non-controlling interests															(259	)
Net income - TotalEnergies share															19,511
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

9 months 2026 (M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	8,168	1,882	3,506	1,279	529	223		–	15,587
Total divestments	801	147	1,660	172	244	13		–	3,037
Cash flow from operating activities	13,420	2,230	1,252	11,419	3,239	(1,951	)	–	29,609

September 30, 2026 - Notes to the consolidated financial statements - 4

9 months 2025 (M$)	Exploration & Production		Integrated LNG		Integrated Power		Refining & Chemicals		Marketing & Services		Corporate		Intercompany		Total
External sales	4,330		7,669		13,880		65,591		59,083		19		–		150,572
Intersegment sales	26,481		6,708		1,819		20,939		567		95		(56,609	)	–
Excise taxes	–		–		–		(567	)	(13,586	)	–		–		(14,153	)
Revenues from sales	30,811		14,377		15,699		85,963		46,064		114		(56,609	)	136,419
Operating expenses	(12,577	)	(11,468	)	(14,527	)	(83,712	)	(44,041	)	(719	)	56,609		(110,435	)
Depreciation, depletion and impairment of tangible assets and mineral interests	(6,073	)	(1,164	)	(286	)	(1,239	)	(684	)	(90	)	–		(9,536	)
Net income (loss) from equity affiliates and other items	713		1,635		332		25		79		(74	)	–		2,710
Tax on net operating income	(6,176	)	(538	)	(210	)	(238	)	(443	)	246		–		(7,359	)
Adjustments^(a)	104		(345	)	(643	)	(578	)	(57	)	(67	)	–		(1,586	)
Adjusted net operating income	6,594		3,187		1,651		1,377		1,032		(456	)	–		13,385
Adjustments^(a)															(1,586	)
Net cost of net debt															(1,370	)
Non-controlling interests															(208	)
Net income - TotalEnergies share															10,221
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

9 months 2025 (M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	8,642	2,390	4,212	995	611	155		–	17,005
Total divestments	1,060	500	486	65	180	17		–	2,308
Cash flow from operating activities	11,128	3,071	1,074	1,743	1,483	(1,627	)	–	16,872

September 30, 2026 - Notes to the consolidated financial statements - 5

3rd quarter 2026 (M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	1,644	3,470	4,221	30,778	26,693	13	–	66,819
Intersegment sales	10,528	1,934	1,985	11,409	228	33	(26,117)	–
Excise taxes	–	–	–	(188)	(4,772)	–	–	(4,960)
Revenues from sales	12,172	5,404	6,206	41,999	22,149	46	(26,117)	61,859
Operating expenses	(4,481)	(2,939)	(5,472)	(36,267)	(20,804)	(212)	26,117	(44,058)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,017)	(405)	(1,017)	(428)	(282)	(31)	–	(4,180)
Net income (loss) from equity affiliates and other items	229	610	199	(584)	(47)	(30)	–	377
Tax on net operating income	(2,873)	(648)	(136)	(1,306)	(328)	109	–	(5,182)
Adjustments^(a)	(127)	137	(822)	(187)	221	(23)	–	(801)
Adjusted net operating income	3,157	1,885	602	3,601	467	(95)	–	9,617
Adjustments^(a)								(801)
Net cost of net debt								(453)
Non-controlling interests								(100)
Net income - TotalEnergies share								8,263
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

3rd quarter 2026 (M$)	Exploration & Production		Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	3,026		359	1,186	278	180	85		–	5,114
Total divestments	(121	)	32	86	129	14	12		–	152
Cash flow from operating activities	4,905		1,213	1,636	6,290	1,622	(276	)	–	15,390

September 30, 2026 - Notes to the consolidated financial statements - 6

3rd quarter 2025 (M$)	Exploration & Production		Integrated LNG		Integrated Power		Refining & Chemicals		Marketing & Services		Corporate		Intercompany		Total
External sales	1,392		1,995		3,955		21,205		20,138		6		–		48,691
Intersegment sales	8,892		1,587		434		7,122		234		38		(18,307	)	–
Excise taxes	–		–		–		(201	)	(4,646	)	–		–		(4,847	)
Revenues from sales	10,284		3,582		4,389		28,126		15,726		44		(18,307	)	43,844
Operating expenses	(4,200	)	(2,880	)	(3,863	)	(27,069	)	(14,916	)	(225	)	18,307		(34,846	)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,145	)	(376	)	(103	)	(380	)	(243	)	(33	)	–		(3,280	)
Net income (loss) from equity affiliates and other items	522		492		(52	)	75		(24	)	(3	)	–		1,010
Tax on net operating income	(2,055	)	(97	)	(110	)	(143	)	(177	)	115		–		(2,467	)
Adjustments^(a)	237		(131	)	(310	)	(78	)	(14	)	(22	)	–		(318	)
Adjusted net operating income	2,169		852		571		687		380		(80	)	–		4,579
Adjustments^(a)															(318	)
Net cost of net debt															(499	)
Non-controlling interests															(79	)
Net income - TotalEnergies share															3,683
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities 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 net operating income of Integrated LNG segment.

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

3rd quarter 2025 (M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate		Intercompany	Total
Total expenditures	2,409	611	773	402	205	35		–	4,435
Total divestments	622	465	81	17	45	2		–	1,232
Cash flow from operating activities	4,187	789	674	2,839	287	(427	)	–	8,349

September 30, 2026 - Notes to the consolidated financial statements - 7

3.2

Adjustment items

The main adjustment items for the first nine months of 2026 are the following:

–

An “Inventory valuation effect” amounting to $2,513 million in net operating income for the Refining & Chemicals and Marketing & Services segments;

–

An “Effect of changes in fair value” amounting to $168 million in net operating income for the Integrated LNG and Integrated Power segments;

–

"Asset impairment and provisions charges" of $(3,093) million in net operating income notably linked to the agreements with US federal authorities related to offshore wind leases, the strategic review of the

renewables portfolio outside key focus markets, as well as impairments for the offshore wind activity in Germany for the Integrated Power segment and for the participation of TotalEnergies into Hanwha TotalEnergies Petrochemical Co. Ltd for the Refining & Chemicals segment;

–

"Gains on disposals of assets" for an amount of $121 million in net operating income mainly related to the creation of NEO NEXT+ in the UK.

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

Adjustments to net operating income

3rd quarter 2026	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Total
(M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Total
Inventory valuation effect	–	–	–	926	334	–	1,260
Effect of changes in fair value	–	137	122	–	–	–	259
Restructuring charges	–	–	–	–	–	–	–
Asset impairment and provisions charges	(13)	–	(891)	(928)	(113)	–	(1,945)
Gains (losses) on disposals of assets	(114)	–	–	–	–	–	(114)
Other items	–	–	(53)	(185)	–	(23)	(261)
Total	(127)	137	(822)	(187)	221	(23)	(801)

3rd quarter 2025	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Total
(M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Total
Inventory valuation effect	–	–	–	(48)	15	–	(33)
Effect of changes in fair value	–	(131)	(41)	–	–	–	(172)
Restructuring charges	(7)	–	–	–	–	–	(7)
Asset impairment and provisions charges	–	–	(257)	–	(29)	–	(286)
Gains (losses) on disposals of assets	284	–	–	–	–	–	284
Other items	(40)	–	(12)	(30)	–	(22)	(104)
Total	237	(131)	(310)	(78)	(14)	(22)	(318)

9 months 2026	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Total
(M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Total
Inventory valuation effect	–	–	–	1,885	628	–	2,513
Effect of changes in fair value	–	179	(11)	–	–	–	168
Restructuring charges	(7)	–	(6)	(16)	(23)	–	(52)
Asset impairment and provisions charges	(13)	–	(1,948)	(934)	(198)	–	(3,093)
Gains (losses) on disposals of assets	138	–	–	–	(17)	–	121
Other items	–	(7)	(62)	(416)	(16)	(94)	(595)
Total	118	172	(2,027)	519	374	(94)	(938)

9 months 2025	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Total
(M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Total
Inventory valuation effect	–	–	–	(352)	(28)	–	(380)
Effect of changes in fair value	–	(249)	(361)	–	–	–	(610)
Restructuring charges	(7)	–	–	–	–	–	(7)
Asset impairment and provisions charges	–	–	(270)	(196)	(29)	–	(495)
Gains (losses) on disposals of assets	284	–	–	–	–	–	284
Other items	(173)	(96)	(12)	(30)	–	(67)	(378)
Total	104	(345)	(643)	(578)	(57)	(67)	(1,586)

September 30, 2026 - Notes to the consolidated financial statements - 8

Shareholders’ equity

Treasury shares (TotalEnergies shares held directly by TotalEnergies SE)

	December 31, 2025	September 30, 2026
Number of treasury shares	63,702,529	74,975,030
Percentage of share capital	2.89%	3.29%

Following the authorization of the Extraordinary Shareholder’s Meeting held on May 25, 2022, the Board of Directors decided to cancel:

–

At its meeting on February 10, 2026, with effect on February 13, 2026, 18,185,068 treasury shares bought back between July 1^st, 2025 and August 19, 2025;

–

At its meeting on April 28, 2026, with effect on April 30, 2026, 7,728,801 treasury shares bought back between August 20, 2025 and September 8, 2025.

Dividend

The Board of Directors, at its meeting on April 28, 2026, set the first interim dividend for the fiscal year 2026 at €0.90 per share. The ex-dividend date of this interim dividend was September 30, 2026 and it was paid in cash on October 2, 2026 for shares listed on Euronext and on October 21, 2026 for shares listed on the NYSE.

Moreover, the Board of Directors, at its meeting on July 22, 2026, set the second interim dividend for the fiscal year 2026 at €0.90 per share, i.e. an amount equal to the aforementioned first interim dividend. The ex-dividend date of this interim dividend will be December 31, 2026 and it will be paid in cash on January 5, 2027 for shares listed on Euronext and on January 22, 2027 for shares listed on the NYSE.

Furthermore, the Board of Directors, at its meeting on October 28, 2026, set the third interim dividend for the fiscal year 2026 at €0.90 per share, i.e. an amount equal to the aforementioned first and second interim dividends. The ex-dividend date of this interim dividend will be March 31, 2027 and it will be paid in cash on April 2, 2027 for shares listed on Euronext and on April 20, 2027 for shares listed on the NYSE.

Dividend 2026	First interim	Second interim	Third interim
EUR Amount (Euronext share)	0.90€	0.90€	0.90€
USD Amount (NYSE share)	1.00737$	Set on January 14, 2027	Set on April 13, 2027
Set date	April 28, 2026	July 22, 2026	October 28, 2026
Ex-dividend date Euronext and NYSE	September 30, 2026	December 31, 2026	March 31, 2027
Payment date Euronext	October 2, 2026	January 5, 2027	April 2, 2027
Payment date NYSE	October 21, 2026	January 22, 2027	April 20, 2027

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 €3.22 per share for the 3^rd quarter 2026 (€2.09 per share for the 2^nd quarter 2026 and €1.41 per share for the 3^rd quarter 2025). Diluted earnings per share calculated using the same method amounted to €3.18 per share for the 3^rd quarter 2026 (€2.08 per share for the 2^nd quarter 2026 and €1.40 per share for the 3^rd quarter 2025).

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

Perpetual subordinated notes

On February 26, 2026, TotalEnergies SE issued perpetual subordinated notes:

–

1,500 million euros perpetual subordinated notes with a 3.79% coupon, callable from February 2031.

TotalEnergies SE has not redeemed perpetual subordinated notes during the first nine months of 2026.

On September 10, 2026, TotalEnergies SE notified its binding intention to fully reimburse the nominal amount of €1,500 million of its perpetual subordinated notes 3.369% issued in October 2016, on their first call date, on October 6, 2026, resulting in its reclassification as current borrowings as of September 30, 2026.

September 30, 2026 - Notes to the consolidated financial statements - 9

Other comprehensive income

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

(M$)	9 months 2026	9 months 2025
Actuarial gains and losses	22	14
Change in fair value of investments in equity instruments	9	(32)
Tax effect	(7)	–
Currency translation adjustment generated by the parent company	(2,960)	8,688
Sub-total items not potentially reclassifiable to profit and loss	(2,936)	8,670
Currency translation adjustment	2,602	(6,939)
– unrealized gain/(loss) of the period	2,060	(6,936)
– less gain/(loss) included in net income	(542)	3
Cash flow hedge	3,901	(1,014)
– unrealized gain/(loss) of the period	4,119	(1,522)
– less gain/(loss) included in net income	218	(508)
Variation of foreign currency basis spread	12	25
– unrealized gain/(loss) of the period	3	14
– less gain/(loss) included in net income	(9)	(11)
Share of other comprehensive income of equity affiliates, net amount	545	(386)
– unrealized gain/(loss) of the period	540	(369)
– less gain/(loss) included in net income	(5)	17
Other	4	12
Tax effect	(998)	237
Sub-total items potentially reclassifiable to profit and loss	6,066	(8,065)
Total other comprehensive income (net amount)	3,130	605

September 30, 2026 - Notes to the consolidated financial statements - 10

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

	9 months 2026			9 months 2025
(M$)	Pre-tax amount	Tax effect	Net amount	Pre-tax amount	Tax effect	Net amount
Actuarial gains and losses	22	(7)	15	14	(7)	7
Change in fair value of investments in equity instruments	9	–	9	(32)	7	(25)
Currency translation adjustment generated by the parent company	(2,960)	–	(2,960)	8,688	–	8,688
Sub-total items not potentially reclassifiable to profit and loss	(2,929)	(7)	(2,936)	8,670	–	8,670
Currency translation adjustment	2,602	–	2,602	(6,939)	–	(6,939)
Cash flow hedge	3,901	(995)	2,906	(1,014)	248	(766)
Variation of foreign currency basis spread	12	(3)	9	25	(11)	14
Share of other comprehensive income of equity affiliates, net amount	545	–	545	(386)	–	(386)
Other	4	–	4	12	–	12
Sub-total items potentially reclassifiable to profit and loss	7,064	(998)	6,066	(8,302)	237	(8,065)
Total other comprehensive income	4,135	(1,005)	3,130	368	237	605

Financial debt

The Company has issued senior bonds across three tranches in the U.S. markets in January 2026:

–

1,500 million dollars at 4.248% issued by TotalEnergies Capital USA and maturing in January 2031;

–

1,250 million dollars at 4.569% issued by TotalEnergies Capital USA and maturing in January 2033;

–

750 million dollars at 4.857% issued by TotalEnergies Capital USA and maturing in January 2036.

The Company has redeemed four senior bonds during the first nine months of 2026:

–

1,100 million euros at 2.500% bond issued by TotalEnergies Capital International in 2014 and maturing in March 2026;

–

200 million Swiss francs at 0.288% bond issued by TotalEnergies Capital International in 2018 and maturing in July 2026;

–

500 million pounds sterling at 1.660% bond issued by TotalEnergies Capital International in 2019 and maturing in July 2026;

–

1,472 million Hong Kong dollars at 3.088% bond issued by TotalEnergies Capital International in 2015 and maturing in September 2026.

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 nine months of 2026.

September 30, 2026 - Notes to the consolidated financial statements - 11

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 company, other than those mentioned below.

Middle East: Situation of the Company

Since the start of the crisis in the Middle East on February 28, 2026, TotalEnergies is fully mobilized to monitor closely developments in the situation in order to implement appropriate measures.

Consequences of the conflict for TotalEnergies to date

–

As of end of March, the production shut down in Qatar, Iraq and UAE offshore, represented approximately 15% of the total oil and gas production of the Company.

–

During the second quarter of 2026, the conflict in the Middle East impacted the production of the Company by an average of 210 kboe/d.

–

During the third quarter, the impact of the conflict has been limited to only around 5% of the Company’s overall production on average.

–

The impact of the conflict on production is currently decreasing compared to the third quarter and represents less than 5% of the Company’s total production, primarily related to limited exports of LNG volumes via the Strait of Hormuz.

–

Following the completion of the repair works after the incidents that occurred in early April, the SATORP¹ refinery returned to full capacity at the end of the third quarter of 2026.

–

With the exception of the SATORP refinery, the Company’s assets were not damaged during the conflict.

The assessment of the impacts of the conflict on the Company's operations did not identify any impairment indicators as at the end of September 2026.

Yemen

In Yemen, the deterioration of security conditions in the vicinity of the Balhaf site caused the company Yemen LNG, in which the TotalEnergies company 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.

Legal and arbitration proceedings

Disputes relating to Climate

In France, TotalEnergies SE was summoned in January 2020 before Nanterre’s Civil 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 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. This action was declared inadmissible on July 6, 2023, by the Paris Civil Court of Justice to which the case was transferred following a new procedural law. Following the appeal filed by the claimants, the Paris Court of Appeal, in a judgment of June 18, 2024, considered the action initiated admissible in particular on the basis of the law on the duty of vigilance transferring the case for trial on the merits before the Paris Civil Court of Justice, while striking out 17 of the 22 applicants as well as declining to awards any provisional measures.

In its judgement of 25 June 2026, the Paris Judicial Court did not uphold the claims seeking to prohibit TotalEnergies from developing or undertaking new oil and gas projects or to require it to reduce its oil and gas production; the Court confirmed that the duty of vigilance “law is not intended to hold the companies

concerned responsible for the risks related to climate change resulting from all human activity on the planet since the Industrial Revolution”. The Court also held that it is not for the Court to dictate targets or specific measures that would be binding on TotalEnergies.

However, the Court did not follow the opinion of the Public Prosecutor’s Office — according to which the scope of the Duty of vigilance law does not extend to climate change — and held that a company’s vigilance plan should address climate-related risks. Finding that greenhouse gas emissions from its operations (Scopes 1 and 2) are already effectively incorporated into its vigilance plan, the Court ordered TotalEnergies to include emissions from its customers (Scope 3) and to update its vigilance plan accordingly within six months from service of the judgment. Upon expiry of that period, the proceedings are expected to resume before the Court so that it may rule on the review of the supplemented vigilance plan and on claims in respect of which it had stayed its decision.

TotalEnergies SE has appealed this judgment before the Paris Court of Appeal.

Proceedings against the Company, involving similar injunctive relief claims, were initiated in March 2024 before the Tournai Enterprise Court in Belgium. In a judgment dated 18 March 2026, the Court held that it had jurisdiction on the grounds that the damage alleged by the claimant was said to have materialised in Belgium, but decided to stay the proceedings pending the above-mentioned 25 June 2026 decision of the Paris Judicial Court. TotalEnergies has appealed that judgment before the Mons Court of Appeal.

Some associations in France brought civil and criminal actions against TotalEnergies SE, with the purpose of proving that since May 2021 – after the change of name of TotalEnergies – the Corporation’s corporate communication and its publicity campaign contain environmental claims that are either false or misleading for the consumer. By decision dated 23 October 2025, the Paris Judicial Court ruled that the Corporation’s institutional communication of an informational nature did not fall under the Consumer Code or the scope of misleading commercial practices. The claims concerning the communication campaign related to its name change in 2021, as well as those targeting its institutional communication on the role of natural gas and biofuels in the energy transition, were all dismissed. No “advertising” by TotalEnergies' subsidiaries in France was condemned by the court. However, the court requested the removal of three paragraphs relating to carbon neutrality ambitions from the website of its commercial subsidiary TotalEnergies Electricité et Gaz France intended for customers. Neither party appealed this civil ruling, which has become final.

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 Economic Activities Court, seeking notably 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 TotalEnergies' 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. On September 25, 2025, during the preliminary procedural phase of the proceedings, the claimants’ principal claim was dismissed for lack of standing. The appeal lodged by the claimants against that judgment was declared inadmissible on 15 April 2026.

In the United States, the Corporation and several of its US subsidiaries of were summoned, amongst many other companies and professional associations, in several "climate litigation" cases, seeking to establish legal liability for past greenhouse gas emissions, and to compensate plaintiff public authorities, in particular for resulting adaptation costs. The Company considers that the courts lack jurisdiction, that it has many arguments to put forward, and considers also that the past and present behavior of the Company does not constitute a fault susceptible to give rise to liability.

¹ Platform jointly owned by Aramco (62.5%) and TotalEnergies (37.5%).

September 30, 2026 - Notes to the consolidated financial statements - 12

Mozambique

In France, victims and heirs of deceased persons filed a complaint against TotalEnergies SE in October 2023 with the Nanterre Prosecutor, following the events perpetrated by terrorists in the city of Palma in March 2021. This complaint would allege that the Corporation is liable for “unvoluntary manslaughter” and “failure to assist people in danger”. The Corporation considers these accusations as unfounded in both law and fact².

In the United Kingdom, an inquest initiated by the family of one of the victims concluded on September 24, 2026 that the victim's death was caused by the impact of a rocket and found no evidence implicating TotalEnergies SE or its subsidiary, both of which were designated as “interested parties” in the proceedings.

Kazakhstan

On April 1st, 2024, the Republic of Kazakhstan filed a Statement of Claims in the context of an arbitration involving TotalEnergies EP Kazakhstan and its partners under the production sharing contract related to the North Caspian Sea. TotalEnergies EP Kazakhstan and its partners consider this action to be unfounded. Therefore, it is not possible at this date to reliably assess the potential consequences of this claim, particularly financial ones, nor the date of their implementation.

² Refer to the press release published by the Company on October 11, 2023 contesting the accusations.

September 30, 2026 - Notes to the consolidated financial statements - 13

Subsequent events

There are no post-balance sheet events that could have a material impact on the Company’s financial statements.

September 30, 2026 - Notes to the consolidated financial statements - 14

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 decides the distribution of a third interim dividend of €0.90/share for fiscal year 2026, an increase of 5.9% compared to 2025

On October 28, 2026, the Board of Directors of the Company (the “Board of Directors”) met under the chairmanship of Mr. Patrick Pouyanné, Chairman and Chief Executive Officer, and decided the distribution of a third interim dividend of €0.90/share for fiscal year 2026, an increase of 5.9% compared to the interim dividends and final dividend paid for fiscal year 2025 and equal to the first and second interim dividends for fiscal year 2026.

This increase is in line with the shareholder returns policy approved by the Board of Directors and announced during the Strategy and Outlook Presentation in New York on September 28, 2026, which provides for annual dividend growth of more than 5% through 2030, in line with the Company’s expected cash flow growth.

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

	Euronext	NYSE

Ex-dividend date ¹	March 31, 2027	March 31, 2027

Payment date ²	April 2, 2027	April 20, 2027

⁽¹⁾

As a reminder, the record date for shares listed on the NYSE is March 31, 2027.

⁽²⁾

The applicable EUR/USD exchange rate will be the WM/Refinitiv Intra-Day spot rate published at 2:00 p.m. (Paris time) on April 13, 2027. The amount of the interim dividend in USD will be made available on the TotalEnergies website (https://totalenergies.com/investors/shares-and-dividends/dividends). To ensure orderly dividend payment across both markets, a transfer freeze period between the two markets will be in effect from March 30, 2027 at 3:00 p.m. (New-York time) until the opening of the Euronext market on April 2, 2027.

***

United States: TotalEnergies Enters 26 Chevron-Operated Offshore Exploration Blocks, Strengthening the Successful U.S. Partnership Between Both Companies

On October 28, 2026, TotalEnergies announced the acquisition of a 25% working interest in 26 Chevron-operated exploration leases offshore the United States. As part of the transaction, Chevron also acquires from TotalEnergies a 75% operated interest in two exploration leases adjacent to existing jointly held exploration leases.

The 26 leases, located 150 to 250 km from shore, include 24 blocks located in the Green Canyon area and 2 blocks in the Walker Ridge area, targeting well-proven plays.

The transaction further strengthens the successful collaboration between TotalEnergies and Chevron and expands the Company’s U.S. offshore exploration portfolio, building on TotalEnergies’ entry into 40 Chevron-operated exploration blocks in June 2025. The combined portfolio provides access to multiple exploration plays and prospects, complementing TotalEnergies’ existing interests in the producing Ballymore (40%, TotalEnergies), Anchor (37.14%, TotalEnergies), Jack (25%, TotalEnergies) and Tahiti (17%, TotalEnergies) assets.

***

TotalEnergies strengthens value sharing with its employees and the support of their energy purchasing power

On October 27, 2026, in an energy context marked by rising petroleum and gas products prices, TotalEnergies confirmed that it expects to distribute an exceptional value-sharing bonus to eligible employees¹ in France and around the world in 2026. With this decision, TotalEnergies wishes to recognize the daily commitment of TotalEnergies' teams, whose professionalism and dedication contribute in particular to the reliability of France's fuel supply.

In France, pending the mandatory annual negotiations scheduled for December 2026, TotalEnergies is paying an advance on this exceptional bonus of €1,000 gross. The final amount of the bonus and terms of payment will be discussed with employee representative organizations within the framework of its social dialogue.

The value-sharing bonus comes on top of other benefits available to the nearly 15,000 French employees in the Common Social Framework: profit-sharing and incentive plans, with an average incentive payment of €10,136 paid in 2026, and employer contributions to employee savings plans made by the TotalEnergies' companies in addition to employees' voluntary contributions to these plans.

Following the 2026 campaign, the Board of Directors also authorized a new capital increase reserved for employees, who will enjoy a 20% share-purchasing discount and one bonus share for each share subscribed, up to a maximum of 10 bonus shares.

More than 70% of TotalEnergies' employees worldwide (and more than 80% in France) are TotalEnergies shareholders. In 2025, TotalEnergies paid out approximately €700 million in dividends to employee and former employee shareholders, including approximately €450 million in France. The dividend growth policy of at least 5% per year for the next five years up to 2030, announced by the Board of Directors in September, will also directly benefit employees.

Finally, 13,500 employees worldwide, including 6,500 in France, were granted performance shares in 2026, with an average allocation of 545 shares per employee.

Increased support for fuel purchases for employees in France and around the world

In response to rising fuel prices in many countries, TotalEnergies paid a fuel allowance of €200 to all its employees worldwide² in June 2026.

TotalEnergies has also decided to automatically provide all 35,400 employees with a Fleet card, entitling them to a discount of 8 cents per liter on gasoline and diesel purchased at TotalEnergies service stations, in addition to the price caps in effect for all customers in France. This discount, currently available to nearly 15,000 employees in France, will now be extended to all employees in the country.

In addition, employees who are also customers of TotalEnergies Électricité et Gaz France qualify for the 8-cent-per-liter discount on top of the €1.99-per-liter price cap on gasoline and diesel for all electricity and gas customers in France.

⁽¹⁾

to employees of all wholly owned companies, as well as employees of companies in which more than 50% is owned, subject to approval by their respective governing bodies.

⁽²⁾

$200 for contributors outside Europe

***

Nigeria: TotalEnergies Completes the Divestment of its Oil Interest in Renaissance JV (formerly SPDC)

On October 27, 2026, TotalEnergies announced that its subsidiary TotalEnergies EP Nigeria (TEPNG) completed the divestment of its 10% non-operated interest in the Renaissance JV licenses to Vaaris for an aggregate amount of US$ 800 million. As announced on January 14th, 2026, TotalEnergies retains full economic interest in the three gas licenses of the Renaissance JV (OML 23, OML 28 and OML 77), which currently account for 50% of Nigeria LNG gas supply.

***

United States: TotalEnergies Expands its Joint Venture with KKR with the Addition of a 700 MW Renewables Portfolio

On October 12, 2026 TotalEnergies announced the signing of an agreement with KKR, a leading global investment firm, to add 700 MW to the 50/50 Joint-Venture (JV) they created in the U.S. in 2025, which currently holds 1.4 GW.

The transaction covers a portfolio of three utility scale solar assets located in Texas and in Ohio which are expected to reach their commercial operation dates by the first quarter of 2027. The electricity produced by these assets is already sold to third parties or will be marketed by TotalEnergies. The transaction reflects an enterprise value of $1.2 billion for the portfolio.

TotalEnergies will continue to operate the assets after completion of the transaction, which is expected in 2026 subject to customary conditions.

***

Strategy and Outlook Presentation 2026

On September 28, 2026, Patrick Pouyanné, Chairman and CEO of TotalEnergies, and the members of the Executive Committee, presented the Company's strategy and outlook in New York.

TotalEnergies confirmed growth objectives by 2030.

A live webcast of the event in English is available on its website.

***

Azerbaijan: TotalEnergies announces Final Investment Decision for Absheron Full Field Development

On September 26, 2026, TotalEnergies (35%, operator), together with its partners SOCAR (35%) and XRG (30%), took the Final Investment Decision (FID) for the Full Field Development of the Absheron gas and condensate field.

Located in the Caspian Sea, 100 km south-east of Baku, the Absheron field holds approximately 140 billion cubic meters of recoverable gas reserves. A first development phase, with a production capacity of 1.5 billion cubic meters per annum (BCMA) of gas and 12,000 barrels per day of condensate, was successfully put on stream in 2023.

The Absheron Full Field development is expected to increase overall field production to 6 BCMA and 47,000 barrels per day of condensate. Project is expected to start-up in 2029. Gas will be both supplied to the domestic market and exported to Turkey through the existing gas infrastructure connecting Azerbaijan to the European gas market, therefore strengthening regional energy security.

The project stands out for its innovative design and low carbon footprint. Gas will be produced by 4 subsea wells, transported to shore through a subsea pipeline equipped with advanced automation solutions and processed in a new onshore plant, fully electrified and designed to minimize energy consumption and greenhouse gas emissions. As a result, the scope 1 & 2 greenhouse gas emissions intensity of the project stands below 4 kg CO2e/boe.

***

The Board of Directors of TotalEnergies reaffirms the relevance of the Company's strategy and its confidence in the governance & management to continue its implementation

On September 25, 2026, on the occasion of its annual strategic seminar held on September 23 and 24, 2026, TotalEnergies' Board of Directors reviewed the Company's strategic outlook and unanimously reaffirmed the relevance of the strategy implemented around its two pillars, Oil & Gas and Integrated Power.

On this occasion, the Board also addressed the continuity of the Company's governance and leadership.

Accordingly, the Board of Directors wishes that Patrick Pouyanné, Chairman and Chief Executive Officer, continues to drive this strategy's deployment at the helm of the Company.

The Board reviewed the most suitable mode of governance for the Company and decided unanimously and with conviction to continue to combine positions of Chairman and Chief Executive Officer, knowing that this unity of the Company's management and representation is part of its particularly well-balanced corporate governance framework, with a Lead Independent Director who is a preferred contact for shareholders, whom the Board of Directors has found to be fully fulfilling his role.

Then, on the proposal of the Governance and Ethics Committee, it has therefore unanimously¹ decided that the renewal of the mandate of Patrick Pouyanné will be proposed to the Shareholders' Meeting in May 2027 as well as the renewal of the mandate of Jacques Aschenbroich, who has held the position of Lead Independent Director since May 2023.

⁽¹⁾

Mr. Patrick Pouyanné and Mr. Jacques Aschenbroich did not take part in the deliberations of the Governance and Ethics Committee or of the Board of Directors in respect of the matters concerning them.

***

Nigeria: TotalEnergies launches the Ima Gas Development to Supply Nigeria LNG liquefaction plant

On September 23, 2026, TotalEnergies (40%, operator), together with its partner AMNI (60%), took the Final Investment Decision (FID) for the development of the Ima gas field, straddling the OML 112 and 117 offshore licenses in Nigeria.

Located in shallow waters close to Bonny Island, the Ima gas field will be developed with a single platform, connected through a 22 km pipeline to Nigeria LNG (15%, TotalEnergies). Production start-up is expected in 2028, with a plateau of 350 million cubic feet per day (representing over 60,000 barrels of oil equivalent per day). Once on stream, the Ima field will supply about one-third of the gas required for the ongoing Nigeria LNG Train 7 expansion project, which will increase the liquefaction plant capacity from 22 million tons per annum (Mtpa) to 30 Mtpa.

Ima is a low-cost and low-emissions development, with a simplified platform design, electric power supply from shore, no flaring, and permanent methane detection and monitoring.

Developed in partnership with the Nigerian company AMNI, Ima project is characterized by strong Nigerian content, with all key contractors being local companies. It will also contribute to local community development, with around 60% of the workforce expected to be sourced from host communities during the project development.

***

TotalEnergies Signs an Agreement with GIP on African Energy Infrastructure Assets

On September 18, 2026, TotalEnergies entered into a partnership agreement with Global Infrastructure Partners (GIP), a part of BlackRock, relating to TotalEnergies' interests in some oil & gas infrastructure assets in Africa. In exchange for a US$1.8 billion capital contribution, TotalEnergies will pay GIP a throughput-based tariff over a period of up to 15 years.

***

TotalEnergies Announces a Partnership with Mistral to Develop Frontier AI Models for Reservoir Exploration and Engineering

On September 15, 2026, TotalEnergies and Mistral announced a 3-year joint program representing an investment of more than €100 million aimed at developing a new generation of frontier AI models to support TotalEnergies' geosciences experts in the exploration, characterization and development of oil and gas reservoirs.

Driving Innovation by Combining AI, Geoscience Expertise and Subsurface Data

This partnership will draw on the latest advances in artificial intelligence, particularly agentic AI, to combine next to 10 petaflops of data with nearly a century of knowledge, know-how and expertise accumulated by TotalEnergies in geosciences and reservoir engineering. The objective is to develop new frontier models, able to integrate, process and interpret large volumes of data in order to generate multiple scenarios for the development of exploration opportunities, as well as for optimizing and extending the life of existing projects.

TotalEnergies and Mistral will establish a joint scientific laboratory combining the subsurface know-how and expertise of TotalEnergies' subsurface teams with the scientific and technological capabilities of Mistral, a European AI champion, to develop solutions tailored to the specific needs of the Company's businesses.

Leveraging the Expertise and Digital Infrastructure of a European Champion

Through this partnership with Mistral, TotalEnergies is strengthening its AI solutions ecosystem to create proprietary models within a European digital ecosystem. This enables TotalEnergies to leverage its strategic subsurface data and Mistral to further develop as a European AI champion.

***

Plastics Recycling: TotalEnergies Becomes the Sole Owner of the Grandpuits Advanced Plastics Recycling Plant

On September 11, 2026, as part of the restructuring of Plastic Energy's shareholding, TotalEnergies agreed to acquire from the new shareholder Plastic Energy's 35% interest in the Grandpuits advanced recycling plant, in which TotalEnergies already held a 65% interest. The plant is now wholly owned by TotalEnergies.

The Grandpuits advanced plastics recycling plant, located in Seine-et-Marne, started production in March 2026 and has an annual capacity to process 15,000 tons of plastic waste.

A Pioneering Plant for the French Advanced Plastics Recycling Value Chain

The Grandpuits plant transforms hard-to-recycle plastic waste from French households, including waste collected in yellow recycling bins, which is currently sent to landfill or incineration, into a synthetic oil through a pyrolysis process. This process involves heating the waste to high temperatures in an oxygen-free environment. It makes it possible to recycle waste that cannot be recycled mechanically and to produce circular petrochemical feedstock as a substitute for fossil feedstocks.

The synthetic oil contributes to producing recycled plastics of the same quality as virgin plastics, compatible with the strictest requirements, including food contact and medical applications. In 2023, TotalEnergies signed an agreement with two French partners, Citeo and Paprec, to secure the plant's long-term supply of plastic waste.

***

Exploration in Angola: TotalEnergies Announces a new Discovery on Block 17 and Enters New Exploration Blocks

On September 10, 2026, on the occasion of the Angola Oil & Gas Conference, Patrick Pouyanné, Chairman and CEO of TotalEnergies, announced several exploration successes.

Acacia-5: from discovery to production in 3 months

TotalEnergies (38%, operator) has announced the Acacia-5 near-by discovery on Block 17. First Oil will be achieved only three months after the discovery made in June 2026, through a fast-track

development leveraging the available capacity on the Pazflor FPSO. Acacia-5 shall increase Block 17 production by 6,000 barrels per day.

Acacia-5 is the second exploration success recorded in 2026 across TotalEnergies' Angolan portfolio, following the recent Block 0 discovery in the prolific Lower Congo Basin, where TotalEnergies holds a 10% interest alongside Chevron, operator.

Entry into new exploration blocks

TotalEnergies has signed agreements with the concessionaire Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), to enter with a 40% operated interest in exploration Blocks 17/25 and 32/21, located in the heart of the prolific Lower Congo Basin.

These promising blocks benefit from extensive existing 3D seismic coverage and offer access to several prospective geological plays. They are located close to existing facilities in TotalEnergies-operated Blocks 17 and 32, where six FPSOs are currently producing, therefore allowing for future tie-backs and cost-efficient development of additional resources through existing facilities.

Moreover, TotalEnergies signed in February 2026 a Head of Agreement (HoA) with ANPG, and ExxonMobil to farm-in with a 35% interest into exploration Blocks 40, 41, 42 and 58 in the Benguela Basin.

TotalEnergies holds a 38% operated interest in Block 17, alongside Equinor (22.16%), ExxonMobil (19%), Azule Energy (15.84%) and Sonangol E&P (5%).

TotalEnergies holds a 40% operated interest in Blocks 17/25 and 32/21, alongside ExxonMobil 40%, and Sonangol E&P 20%.

TotalEnergies holds a 10% interest in Block 0, alongside Sonangol E&P (41%), Chevron (39.2%, operator) and Azule Energy (9.8%).

***

Papua New Guinea: TotalEnergies Takes Decisive Steps Towards Final Investment Decision on Papua LNG

On September 7, 2026, TotalEnergies announced that Papua LNG achieved major contractual and commercial milestones, marking decisive steps towards a Final Investment Decision. Thanks to the close cooperation with the authorities of Papua New Guinea and Papua LNG partners, the following key milestones have now been achieved:

Completion of the EPC tendering process, with contract award recommendations now ready to be approved by the co-venturers. Since 2024, close to US$ 4 billion cost savings have been achieved through project design optimization (for example, developing an alternative upstream condensate scheme in synergy with PNG LNG) and rebidding EPC packages with an enlarged panel of Asian EPC contractors, bringing the project capital expenditure down to around US$ 14 billion.

Decision made to maximize synergies for the benefit of the project by transferring the operatorship to ExxonMobil, operator of PNG LNG. TotalEnergies and ExxonMobil will ensure a safe and efficient transition of operatorship while maintaining continuity of project activities and ongoing commitments to the authorities and stakeholders. Together with the transfer of operatorship, in order to give to ExxonMobil a higher stake in the project, TotalEnergies will sell a 9.1% interest (post back-in of Kumul Petroleum) in the project to its Papua LNG partners, in proportion to their existing participating interests and will retain a 20% interest in the project, while maintaining its LNG offtake share of the project.

Finalization of the Gas Agreement with the Government of Papua New Guinea taking into account this updated budget and optimization. The Gas Agreement signed in 2019 has been amended to ensure robust project economics, including in low cycle, while preserving the State's long-term fiscal interests.

Establishment of a LNG marketing joint venture between TotalEnergies and the PNG State-related entities represented by Kumul Petroleum Holdings Limited, to jointly commercialize 2.4

		Mtpa from Papua LNG out of a total production of 5.6 Mtpa, thus supporting the project financing.

	·	Execution of a LNG offtake Heads of Agreement between TotalEnergies as a buyer and the parties of the LNG marketing joint venture as sellers, providing TotalEnergies with access to 1.5 Mtpa of LNG for its own global portfolio.

Upon completion of the farm-down by TotalEnergies of part of its interest and exercise by the State of Papua New Guinea of its back-in right, TotalEnergies will hold a 20% interest in Papua LNG, alongside ExxonMobil (34.1%, operator), Santos (21.0%), ENEOS Xplora (2.4%), and Kumul Petroleum Holdings Limited and MRDC (22.5%).

***

Namibia: TotalEnergies Completes its entry as Operator into PEL83 license, holding the giant Mopane discovery

On September 3, 2026, TotalEnergies announces the completion of the transaction concluded with Galp in December 2025, by which:

TotalEnergies acquires from Galp a 40% operated interest in the PEL83 license, holding the Mopane discovery, and

Galp acquires from TotalEnergies a 10% participating interest in the PEL56 license, holding the Venus discovery and a 9.39% participating interest in the PEL91 license.

Further to the completion of this transaction, TotalEnergies holds a 40% operated interest in the PEL83 license alongside Galp (40%), Namcor (10%) and Custos (10%), a 35.25% operated interest in the PEL56 license, alongside QatarEnergy (35.25%), Galp (10%), Namcor (10%) and Impact (9.5%), as well as a 33.09% operated interest in PEL91 alongside QatarEnergy (33.03%), Namcor (15%), Impact (9.5%) and Galp (9.39%).

***

Emmanuelle Guégan appointed President Marketing & Services and member of TotalEnergies' Executive Committee

On September 1, 2026 TotalEnergies announced that, effective September 1, 2026, Emmanuelle Guégan was appointed President Marketing & Services and member of the Executive Committee, Bernard Pinatel having decided to retire.

Emmanuelle Guégan had been Senior Vice President Corporate Affairs of TotalEnergies' Exploration & Production since October 2025.

Effective September 1, 2026, TotalEnergies' Executive Committee comprised:

Patrick Pouyanné, Chairman and Chief Executive Officer

Emmanuelle Guégan, President Marketing & Services

Aurélien Hamelle, President Strategy & Sustainability

Stéphane Michel, President Gas, Renewables & Power

Catherine Remy, President People & Social Engagement

Jean-Pierre Sbraire, Chief Financial Officer

Namita Shah, President Asia and President OneTech

Vincent Stoquart, President Downstream, President Refining & Chemicals

Nicolas Terraz, President Exploration & Production

***

TotalEnergies Completes the Transfer of its 10% Interest in Arctic LNG 2

On August 27, 2026, as mentioned on the occasion of the presentation of the 2^nd Quarter 2026 Results, TotalEnergies confirmed that the transfer of its 10% interest in Arctic LNG 2 to NordLine (a Novatek subsidiary) had completed. TotalEnergies is therefore no longer a shareholder in Arctic LNG 2.

As part of the transfer agreement, TotalEnergies retains its rights to be reimbursed by Arctic LNG 2 for its share of the loans provided by the shareholders to the project, for an amount of around US$ 1.3 billion. Such reimbursement might be implemented in the future subject to applicable sanctions.

***

Renewables in Europe: TotalEnergies Acquires Shell's Renewables Business and Sells a 50% Stake in a Portfolio of Developed Assets to KKR

On August 3, 2026, in line with its Integrated Power strategy in Europe focused on selected deregulated markets, as illustrated by the recent transaction with EPH, and with its business model designed to optimize capital allocation in renewables, TotalEnergies announced the signing of two transactions in Europe:

The acquisition of a 4 GW renewables portfolio from Shell, including 500 MW of solar and wind assets in operation or under construction.

TotalEnergies has signed an agreement with Shell to acquire its entire onshore renewables business in Europe, including 500 MW of solar and wind assets in operation or under construction, mainly located in Italy and the Netherlands, and a 3.5 GW pipeline of solar, wind and battery storage projects in Italy, the United Kingdom and Spain.

This asset portfolio will be wholly owned by TotalEnergies upon completion of the transaction, which is expected by the end of 2026 and remains subject to approval by the relevant authorities.

This transaction complements TotalEnergies' power generation activities in these four key markets for the deployment of its Integrated Power strategy in Europe, in particular its European renewables asset portfolio, which amounts to nearly 10 GW of gross installed capacity or capacity under construction and 27 GW under development.

The sale to KKR of a 50% stake in an already largely developed 1.2 GW renewables asset portfolio for an enterprise value of €1.8 billion.

Confirming its ability to execute partial farm-downs year after year in line with its renewables business model, TotalEnergies has signed an agreement with an insurance account managed by KKR, a leading global investment firm, for the sale of a 50% stake in a 1.2 GW onshore solar and wind asset portfolio in Europe. The portfolio's enterprise value amounts to €1.8 billion.

The transaction covers a portfolio of assets in Germany, Spain, France and Poland. The electricity produced by these assets is already sold to third parties or will be marketed by TotalEnergies.

TotalEnergies will retain a 50% stake in the assets and continue to operate them after completion of the transaction, which is expected in 2026 and subject to customary conditions.

***

Cyprus: TotalEnergies Approves the Development of the Cronos Gas Field to Supply Europe with LNG

On July 28, 2026, TotalEnergies (50%) and Eni (50%, operator), partners in Cyprus offshore Block 6, took the Final Investment Decision (FID) for the development of the Cronos gas field, discovered in 2022 and successfully appraised in 2024.

Located in deep offshore waters approximately 185 kilometers southwest of the coast of Cyprus, Cronos will be developed through four subsea wells. The gas will be transported by subsea pipeline from Cypriot waters to Egypt, where it will be liquefied at the Damietta LNG terminal before being exported to Europe.

The development of Cronos will partly rely on existing facilities in Egypt, generating significant synergies for a fast-track development, which will help accelerate its start-up and reduce the carbon intensity of the field's production.

Production start-up is expected in 2028, with a plateau of around 500 million cubic feet per day (Mcf/d), equivalent to around 2.8 million tons of LNG per year (Mtpa), 50% of which will be marketed by TotalEnergies.

A Gas Development Connected to LNG Markets

Following the signature, in February 2025, of a Host Government Agreement, the main commercial and contractual agreements required for the development of the project have been signed. These agreements define the terms for the use of the offshore facilities of the Zohr field, the transit of gas through Egypt, liquefaction at Damietta LNG, and the sale of the gas as LNG.

The project could also enable, in the future, the development of additional resources located in Block 6, which will be appraised during upcoming campaigns.

TotalEnergies is also present in Cyprus in offshore Blocks 11 (50%, operator), 7 (50%, operator) and 8 (40%).

***

TotalEnergies SE appeals the 25 June 2026 judgment in the duty of vigilance climate case

On July 27, 2026, following deliberation by its Board of Directors, TotalEnergies decided to appeal the judgment rendered on June 25, 2026 by the Paris Judicial Court in the proceedings brought by certain associations under the French duty of vigilance law.

First, the Company considers, in line with the position taken by the Public Prosecutor's Office in these proceedings, that climate change, as a global phenomenon, does not fall within the scope of the duty of vigilance law. The Public Prosecutor's Office stated that climate change is a worldwide phenomenon which is “a matter for everyone, but essentially a responsibility of the international community of States”.

Second, the duty of vigilance law is intended to drive responsible corporate behavior with respect to risks of harm resulting from companies' own activities, those of their subsidiaries and those of their suppliers and subcontractors but does not encompass their clients' activities over which companies do not have control. TotalEnergies does not decide whether a motorist chooses to drive a petrol-powered vehicle, use biodiesel, or drive an electric vehicle. However, TotalEnergies seeks to ensure that motorists have access to the energy they choose to use.

Imposing companies in energy, defense, aeronautics, or automotive sectors to control risks resulting from the use of their products by their customers does not appear to be consistent with the objectives of the law, or the principles of legal certainty and freedom to conduct business. In this respect, it should be noted that the European Corporate Sustainability Due Diligence Directive (CSDDD) does not include customers' activities within its scope.

The Company will advance these arguments before the Paris Court of Appeal.

***

FORWARD-LOOKING STATEMENTS

Disclaimer:

Unless otherwise stated, the terms “TotalEnergies”, “TotalEnergies company” and “Company” in this document are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate and independent legal entities. The term “Corporation” as used in this document exclusively refers to TotalEnergies SE, which is the parent company of the Company.

This document contains forward-looking statements (including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995), notably with respect to (i) the future financial condition, results of operations, business activities and strategy of TotalEnergies, including with respect to its growth objectives, (ii) expectations regarding returns to stockholders, including with respect to the anticipated payment of dividends and share buybacks, the conversion of dividends into U.S. dollars for owners of ordinary shares registered on the U.S. register and the timetable relating to dividends, (iii) plans for future development, (iv) future investments, including with respect to production and exploration possibilities from such investments, (v) expected construction timelines, (vi) future supply of renewable energy, (vii) expected divestments and their anticipated impact on operations, and (viii) expected capacity, completion timelines and results of projects and joint ventures. This document may also contain statements regarding the outlook, objectives, areas of improvement, goals and ambitions of TotalEnergies SE, including with respect to climate change and carbon neutrality. 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 are not historical data and should not be interpreted as assurances that the outlook, objectives, goals or ambitions announced will be achieved. They are uncertain and may change 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, fluctuations in the price of crude oil and natural gas, changes in the demand and price of petroleum products, changes in production levels and estimates of reserves, 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, technological innovations, meteorological conditions and events, as well as socio-demographic, economic and political developments, changes in market conditions, loss of market share and changes in consumer preferences, pandemics, and other risk factors described in the Corporation’s regulatory filings, including its Universal Registration Document filed with the French Autorité des Marchés Financiers, its Annual Report on Form 20 F filed with the United States Securities and Exchange Commission (“SEC”) and its other reports filed or furnished with the SEC.

Future interim or final annual dividends payments beyond the interim dividend payable on April 2^nd, 2027 (or April 20^th, 2027, for holders on the U.S. register) have not yet been decided by the Board of Directors or approved by shareholders at a General Meeting. Management’s expectations with respect to such future dividends are “forward-looking statements” and are non-binding. The Board of Directors retains full discretion to decide to distribute an interim dividend and to set the amount and date of the distribution and decide on the dividend to be submitted for approval by shareholders at a General Meeting, based on a number of factors, including TotalEnergies’ financial results, balance sheet strength, cash and liquidity requirements, future prospects, commodity prices, and other factors deemed relevant by the Board.

Readers are cautioned not to consider forward-looking statements as certain, but as an expression of the Corporation’s views only as of the date this document is published.

TotalEnergies SE and its subsidiaries undertake no obligation, make no commitment and expressly disclaim any responsibility to investors or any stakeholder to update or revise, particularly as a result of new information or future events, any forward-looking information or statement, objectives or trends contained in this document. In addition, the Corporation has not verified and is under no obligation to verify any third-party data contained in this document or used in the estimates and assumptions or, more generally, forward-looking statements published in this document. The information on risk factors that could have a significant adverse effect on TotalEnergies’ business, financial condition, including its operating income and cash flow, reputation, outlook or the value of financial instruments issued by TotalEnergies is provided in the most recent version of the Universal Registration Document which is filed by TotalEnergies SE with the French Autorité des Marchés Financiers and the annual report on Form 20-F filed with the SEC.

Cautionary Note to U.S. Investors – U.S. investors are urged to consider closely the disclosure in the Form 20-F of TotalEnergies SE, File N° 1-10888, available from us at 2, place Jean Millier – Arche Nord Coupole/Regnault - 92078 Paris-La Défense Cedex, France, or at the Corporation website totalenergies.com. The Form 20-F is also available from the SEC by calling 1-800-SEC-0330 or on the SEC’s website.

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 September 30, 2026, prepared on the basis of IFRS. Currency amounts are expressed in U.S. dollars (“dollars” or “$”) or in euros (“euros” or “€”).

		At September 30, 2026
		(in millions of dollars)
Current financial debt, including current portion of non-current financial debt
Current portion of non-current financial debt		4,766
Current financial debt		9,135
Current portion of financial instruments for interest rate swaps liabilities		32
Other current financial instruments — liabilities		148
Financial liabilities directly associated with assets held for sale		875
Total current financial debt		14,956
Non-current financial debt		49,090
Non-controlling interests		4,268
Shareholders’ equity
Common shares		7,280
Paid-in surplus and retained earnings		146,280
Currency translation adjustment		(14,182)
Treasury shares		(6,680)
Total shareholders’ equity — TotalEnergies share		132,698
Total capitalization and non-current indebtedness		186,056

As of September 30, 2026, TotalEnergies SE had an issued share capital of 2,281,656,714 ordinary shares with a par value of €2.50 per share, of which 74,975,030 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, 2025, filed with the Securities and Exchange Commission on March 27, 2026.

As of September 30, 2026, $8,534 million of TotalEnergies’ non-current financial debt was secured and $40,556 million was unsecured, and all of TotalEnergies’ current financial debt of $14,956 million was unsecured.

For more information about TotalEnergies’ off-balance sheet commitments and contingencies, including information on guarantees and commitments, 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, 2025, filed with the Securities and Exchange Commission on March 27, 2026.

Except as disclosed herein, there have been no material changes in the consolidated capitalization, indebtedness and contingent liabilities of TotalEnergies since September 30, 2026.

Source: View Original Filing on SEC EDGAR

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