TotalEnergies SE: Third Quarter 2026 Results

TotalEnergies SE: Third Quarter 2026 Results PARIS--( BUSINESS WIRE)--Regulatory News:

TotalEnergies SE (Paris:TTE) (LSE:TTE) (NYSE:TTE):

3Q26

2Q26

Change

vs 2Q26

9M26

Change

vs 9M25

12.3

9.8

+25%

30.6

+48%

9.1

6.0

+51%

20.5

+75%

4.03

2.68

+51%

9.19

+78%

8.3

5.4

+52%

19.5

+91%

17.8

13.2

+35%

43.5

+43%

The Board of Directors of TotalEnergies SE, chaired by CEO Patrick Pouyanné, met on October 28, 2026, to approve the 3 rd quarter 2026 financial statements. On the occasion, Patrick Pouyanné said:

“In a high-price environment characterized by historic refining margin levels and a bull gas market, TotalEnergies is once again fully leveraging its integrated business model and its geographic diversification by posting an adjusted net income of $9.1 billion and cash flow of $12.3 billion for the third quarter, a sharp increase quarter-to-quarter.

Oil & Gas production reached 2.474 Mboe/d in the third quarter, up more than 3% quarter-to-quarter, notably benefiting from a lower impact of the Middle East conflict, limited to only around 5% of the Company’s overall production over the quarter on average. Excluding the Middle East impact, production growth exceeds 4% year-on-year, supported by the ramp-up of projects launched since 2025. Furthermore, with the investment decisions taken this quarter for Cronos in Cyprus, Ima in Nigeria, Umm Shaif Gas Cap in the United Arab Emirates and Absheron Ph2 in Azerbaijan, all the projects contributing to achieving the production growth target of more than 3% per year by 2030 are now in execution phase.

Exploration and Production posted adjusted net operating income of $3.2 billion and cash flow of $5.4 billion, reflecting production growth, sensitivity to declining oil prices and rising gas prices quarter-to-quarter. The Company completed its entry into PEL83 license holding the Mopane discovery and took part in three exploration discoveries in Norway (Grimsnes) and in Angola (Block 0 and Block 17 – Violeta 4). TotalEnergies once again demonstrates its leadership to control costs, with operating costs of $4.7/boe, anchored below $5/boe.

The Integrated LNG segment achieved adjusted net operating income of $1.9 billion and cash flow of $1.7 billion in the third quarter of 2026, a very sharp increase quarter-to-quarter, underpinned by a 20% increase in average LNG price and the outperformance of LNG and gas trading activities in a bull market.

Downstream achieved a record quarter with adjusted net operating income of $4.1 billion and cash flow of $4.6 billion, up close to $2 billion compared to the previous quarter. The increase of nearly 10% refining throughput enabled the Company to fully capture historically high refining margins in Europe and worldwide, while oil trading activities outperformed at a level comparable with the two previous quarters. In this context of rising prices, the Company contributes to the security of supply for Europe by maximizing the use of its refineries and participating in diesel imports from the Middle East. TotalEnergies also announced enhanced protective measures for French consumers and economic players to face increasing diesel prices related to the Middle East conflict.

Integrated Power posted adjusted net operating income of $0.6 billion and cash flow of nearly $0.8 billion, benefiting from an increase of more than 20% in net production in the quarter and the expected contribution from TTEP assets over a full quarter.

Net investments amounted to $3.3 billion in the third quarter and $11.2 billion in the first nine months of 2026, in line with the annual guidance of $15 billion. The gearing ratio now stands at 9.1%, an improvement of 4 percentage points compared to the second quarter, benefiting from free cash flow of more than $6 billion after payment of the dividend.

The Board of Directors commended the very good operational performance of all business segments which enabled the Company to capture higher market prices. It authorized a new capital increase reserved for employees, who will benefit from a 20% discount on the share price. In line with the objective to return 40% of cash flow to shareholders, the Board confirmed a third interim dividend of €0.90/share for fiscal year 2026, up 5.9% compared to 2025, and it authorized share buybacks for cancellation of $2.5 billion for the fourth quarter as well as for the first quarter 2027.”

1. Highlights (2)

Upstream

Integrated LNG

Integrated Power

Downstream

2. Key figures from TotalEnergies’ consolidated financial statements (1)

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

17,809

13,179

+35%

10,295

43,540

30,489

+43%

9,712

6,871

+41%

4,659

22,883

13,841

+65%

3,157

3,231

-2%

2,169

8,964

6,594

+36%

1,885

807

x2.3

852

4,010

3,187

+26%

602

533

+13%

571

1,680

1,651

+2%

3,601

1,800

687

7,000

1,377

x5.1

467

500

-7%

380

1,229

1,032

+19%

1,358

1,156

+17%

692

3,223

2,109

+53%

37.0%

39.3%

37.7%

38.3%

40.2%

9,097

6,027

+51%

3,980

20,518

11,750

+75%

4.03

2.68

+51%

1.77

9.19

5.17

+78%

3.50

2.31

+52%

1.50

7.91

4.62

+71%

2,234

2,216

+1%

2,200

2,202

2,225

-1%

8,263

5,438

+52%

3,683

19,511

10,221

+91%

4,789

4,694

+2%

3,473

14,133

12,794

+10%

(1,510)

(1,247)

(381)

(2,929)

1,851

3,279

3,447

-5%

3,092

11,204

14,645

-23%

12,255

9,804

+25%

7,061

30,635

20,671

+48%

12,634

10,188

+24%

7,443

31,801

21,663

+47%

15,390

10,858

+42%

8,349

29,609

16,872

+75%

3. Key figures of environment, greenhouse gas emissions and production

3.1 Environment – liquids and gas price realizations, refining margins

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

97.0

103.8

-7%

69.1

93.9

70.9

+32%

2.9

-2%

3.1

3.5

-11%

21.5

15.6

+38%

11.3

17.0

12.5

+36%

22.8

17.5

+31%

11.7

18.2

12.7

+44%

87.1

91.6

-5%

66.5

83.9

67.9

+23%

7.00

5.55

+26%

5.50

6.04

5.92

+2%

12.28

10.20

+20%

8.91

10.18

9.36

+9%

33.2

13.5

x2.5

8.4

19.4

5.7

x3.4

3.2 Greenhouse gas emissions (11)

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

8.5

7.3

+16%

8.4

23.6

24.8

-5%

6.9

6.4

+8%

7.1

20.2

21.4

-6%

1.6

0.9

+78%

1.3

3.4

11.7

10.2

+15%

11.0

32.3

32.7

-1%

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

-29%

Estimated quarterly emissions.

For the first nine months of 2026, Scope 3 (13) Category 11 emissions are estimated at 243 Mt CO 2e.

3.3 Production (14)

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

2,474

2,395

+3%

2,508

2,474

2,523

-2%

1,400

1,298

+8%

1,407

1,342

1,369

-2%

1,074

1,097

-2%

1,101

1,132

1,154

-2%

2,474

2,395

+3%

2,508

2,474

2,523

-2%

1,510

1,410

+7%

1,553

1,467

1,525

-4%

5,209

5,330

-2%

5,182

5,444

5,409

+1%

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:

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

4. Analysis of business segments

4.1 Exploration & Production

4.1.1 Production

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

1,963

1,845

+6%

2,026

1,918

1,986

-3%

1,446

1,342

+8%

1,501

1,399

1,460

-4%

2,739

2,668

+3%

2,782

2,756

2,799

-2%

4.1.2 Results

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

3,157

3,231

-2%

2,169

8,964

6,594

+36%

263

137

+92%

177

539

503

+7%

49.2%

45.4%

48.5%

48.0%

49.4%

2,921

2,231

+31%

1,922

7,876

7,659

+3%

(321)

(348)

(53)

(896)

225

2,600

1,883

+38%

1,869

6,980

7,884

-11%

5,389

5,777

-7%

3,984

15,730

12,035

+31%

4,905

5,546

-12%

4,187

13,420

11,128

+21%

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.

4.2 Integrated LNG

4.2.1 Production

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

511

550

-7%

482

556

537

+4%

-6%

+6%

2,470

2,662

-7%

2,400

2,688

2,610

+3%

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

9.8

10.7

-9%

10.4

32.9

31.6

+4%

3.5

3.9

-9%

3.4

11.5

11.2

+2%

9.4

9.8

-4%

9.2

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.

4.2.2 Results

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

12.28

10.20

+20%

8.91

10.18

9.36

+9%

1,885

807

x2.3

852

4,010

3,187

+26%

574

705

-19%

423

1,710

1,471

+16%

328

908

-64%

330

1,646

1,825

-10%

(1,162)

(134)

(1,066)

116

(834)

912

196

580

1,941

-70%

1,724

833

x2.1

1,134

4,342

3,542

+23%

1,213

2,137

-43%

789

2,230

3,071

-27%

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

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.

4.3 Integrated Power

4.3.1 Productions, capacities, clients and sales

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

17.9

14.8

+21%

12.6

44.3

35.5

+25%

9.6

8.2

27.3

23.3

+17%

8.3

5.2

+61%

4.5

17.0

12.2

+39%

33.8

33.4

+1%

25.2

33.8

25.2

+34%

21.5

21.1

+2%

18.7

21.5

18.7

+15%

12.3

12.2

+1%

6.5

12.3

6.5

+88%

105.9

105.8

106.0

105.9

106.0

37.9

37.4

+1%

32.3

37.9

32.3

+17%

6.2

6.1

+1%

6.0

6.2

6.0

+3%

2.7

-1%

2.7

-1%

11.9

11.6

+3%

10.6

38.7

35.6

+9%

10.6

14.5

-27%

11.6

56.6

62.2

-9%

* Solar, wind, hydroelectric and gas flexible capacities.

** End of period data.

*** 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.

4.3.2 Results

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

602

533

+13%

571

1,680

1,651

+2%

142

168

-15%

362

114

x3.2

1,135

920

+23%

596

2,878

1,663

+73%

(25)

(749)

(147)

(851)

1,658

1,110

171

x6.5

449

2,027

3,321

-39%

774

721

+7%

611

2,069

1,770

+17%

1,636

(239)

674

1,252

1,074

+17%

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%.

4.4 Downstream (Refining & Chemicals and Marketing & Services)

4.4.1 Results

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

4,068

2,300

+77%

1,067

8,229

2,409

x3.4

319

540

-41%

590

1,513

1,508

(4)

(156)

(45)

(121)

(147)

315

384

-18%

545

1,392

1,361

+2%

4,622

2,877

+61%

1,653

9,635

4,253

x2.3

7,912

4,114

+92%

3,126

14,658

3,226

x4.5

4.5 Refining & Chemicals

4.5.1 Refinery and petrochemicals throughput and utilization rates

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

1,555

1,426

+9%

1,478

1,535

1,538

426

354

+21%

481

414

460

-10%

688

684

+1%

595

683

618

+11%

441

389

+13%

402

438

461

-5%

88%

80%

84%

86%

87%

* Based on distillation capacity at the beginning of the year

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

1,165

1,100

+6%

1,326

3,448

3,740

-8%

1,152

1,165

-1%

1,174

3,476

3,474

75%

71%

84%

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.

4.5.2 Results

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

33.2

13.5

x2.5

8.4

19.4

5.7

x3.4

3,601

1,800

687

7,000

1,377

x5.1

150

366

-59%

387

1,034

956

+8%

(1)

(2)

(26)

149

365

-59%

385

1,107

930

+19%

3,943

2,030

+94%

1,015

7,689

2,420

x3.2

6,290

3,565

+76%

2,839

11,419

1,743

x6.6

* 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. Does not include oil trading activities.

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.

4.6 Marketing & Services

4.6.1 Petroleum product sales

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

1,218

1,213

1,269

1,221

1,286

-5%

711

732

-3%

744

719

749

-4%

507

481

+5%

525

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.

4.6.2 Results

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

467

500

-7%

380

1,229

1,032

+19%

169

174

-3%

203

479

552

-13%

(3)

(155)

(43)

(194)

(121)

166

x8.7

160

285

431

-34%

679

847

-20%

638

1,946

1,833

+6%

1,622

549

287

3,239

1,483

x2.2

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.

5. TotalEnergies results

5.1 Adjusted net operating income from business segments

Segment adjusted net operating income was $9,712 million in the third quarter of 2026, compared to $6,871 million in the second quarter of 2026, due to increased production, higher refining margins in Europe and worldwide, higher gas prices and significant performance of LNG and gas trading activities.

5.2 Adjusted net income (1) (TotalEnergies share)

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:

TotalEnergies’ average tax rate was 37.0% in the third quarter versus 39.3% in the second quarter of 2026.

5.3 Adjusted earnings per share

Adjusted diluted net earnings per share were as follows:

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

TotalEnergies repurchased* the following:

5.4 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.

5.5 Net cash flow (1)

TotalEnergies’ net cash flow 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.

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.

5.6 Profitability

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

24,581

19,477

16,431

125,107

122,739

116,051

19.6%

15.9%

14.2%

Return on average capital employed (1) was 17.4% for the twelve months ending on September 30, 2026.

26,646

21,608

18,204

153,100

155,138

146,636

17.4%

13.9%

12.4%

6. TotalEnergies SE statutory accounts

Net income for TotalEnergies SE, the parent company, was €2,728 million in the third quarter of 2026 compared to €3,618 million in the second quarter of 2026.

7. Annual 2026 Sensitivities (16)

8. 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.

To listen to the live conference call in English with Chairman & CEO Patrick Pouyanné and CFO Jean-Pierre Sbraire today at 2:00 pm (Paris time) with financial analysts, please log on to totalenergies.com or dial +33 (0) 1 70 91 87 04, +44 (0) 12 1281 8004 or +1 718 705 8796. The conference replay will be available on the Company's website totalenergies.com after the event.

* * * *

9. Operating information by segment

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

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

517

515

535

536

408

414

-1%

433

418

427

-2%

776

671

+16%

864

741

854

-13%

512

513

476

504

446

+13%

261

280

-7%

220

276

260

+6%

2,474

2,395

+3%

2,508

2,474

2,523

-2%

383

375

+2%

361

371

375

-1%

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

208

202

+3%

204

206

207

-1%

294

286

+3%

317

293

312

-6%

637

537

+19%

696

597

684

-13%

277

283

-2%

249

273

223

+22%

102

-8%

1,510

1,410

+7%

1,553

1,467

1,525

-4%

167

120

+39%

161

140

161

-13%

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

1,654

1,693

-2%

1,675

1,764

1,771

574

656

-13%

588

633

578

+10%

761

736

+3%

928

793

940

-16%

1,310

1,275

+3%

1,260

1,282

1,237

+4%

910

970

-6%

731

972

883

+10%

5,209

5,330

-2%

5,182

5,444

5,409

+1%

1,150

1,374

-16%

1,120

1,248

1,176

+6%

9.2 Downstream (Refining & Chemicals and Marketing & Services)

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

1,731

1,704

+2%

1,839

1,748

1,806

-3%

478

445

+7%

566

485

600

-19%

1,033

1,141

-9%

978

1,110

1,036

+7%

730

721

+1%

1,128

816

976

-16%

3,972

4,011

-1%

4,510

4,159

4,418

-6%

365

343

+6%

354

356

359

-1%

2,389

2,455

-3%

2,887

2,582

2,773

-7%

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

1,045

1,030

+1%

976

3,063

2,792

+10%

791

734

+8%

773

2,201

2,217

-1%

482

501

-4%

751

1,660

2,205

-25%

* Olefins, polymers.

9.3 Integrated Power

9.3.1 Net power production

3Q26

2Q26

Solar

Onshore Wind

Offshore Wind

Gas

Others

Total

Solar

Onshore Wind

Offshore Wind

Gas

Others

Total

0.3

0.2

0.0

1.5

0.0

2.0

0.3

0.2

0.0

0.6

0.0

1.2

0.2

0.4

0.2

4.5

0.5

5.9

0.2

0.4

0.2

2.7

0.4

3.9

0.0

0.1

0.2

0.0

0.1

0.4

0.8

0.4

0.3

0.7

1.5

0.5

1.9

3.9

1.3

0.6

1.4

3.4

0.2

1.2

1.4

0.1

1.0

1.1

2.4

0.7

3.1

0.7

3.8

0.5

0.0

0.1

0.6

0.4

0.0

0.1

0.5

5.5

3.1

0.3

8.3

0.7

17.9

5.9

2.9

0.3

5.2

0.5

14.8

9.3.2 Installed power generation net capacity

3Q26

2Q26

Solar

Onshore Wind

Offshore Wind

Gas

Others

Total

Solar

Onshore Wind

Offshore Wind

Gas

Others

Total

0.8

0.6

0.0

2.7

0.2

4.3

0.8

0.6

0.0

2.7

0.2

4.3

0.7

1.1

0.3

7.4

0.4

9.9

0.8

1.1

0.3

7.3

0.4

9.8

0.1

0.2

0.1

0.2

0.6

0.3

1.0

0.6

0.3

1.0

3.1

0.9

1.9

0.5

6.4

3.1

0.9

2.0

0.5

6.5

1.0

1.2

2.2

0.9

1.2

2.1

7.3

0.7

0.4

8.4

7.2

0.7

0.3

8.1

1.2

0.0

0.2

1.4

1.2

0.0

0.2

1.4

14.9

4.4

0.5

12.3

1.7

33.8

14.8

4.4

0.5

12.2

1.5

33.4

9.3.3 Power generation gross capacity from renewables

3Q26

2Q26

Solar

Onshore Wind

Offshore Wind

Other

Total

Solar

Onshore Wind

Offshore Wind

Other

Total

1.4

0.9

0.0

0.3

2.6

1.4

0.9

0.0

0.2

2.5

0.9

1.8

1.1

0.5

4.4

0.9

1.8

1.1

0.5

4.4

0.4

0.0

0.4

0.7

0.4

0.0

0.4

0.7

1.6

0.0

1.6

0.0

1.6

7.8

2.3

0.0

1.2

11.3

7.8

2.3

0.0

1.2

11.3

1.2

1.9

0.0

3.1

1.2

1.9

0.0

3.0

10.4

0.7

0.0

0.4

11.5

10.3

0.7

0.0

0.3

11.2

1.9

0.0

0.6

0.0

2.6

1.9

0.0

0.6

0.0

2.6

25.6

7.7

1.8

2.8

37.9

25.4

7.6

1.8

2.5

37.4

3Q26

2Q26

Solar

Onshore Wind

Offshore Wind

Other

Total

Solar

Onshore Wind

Offshore Wind

Other

Total

0.1

0.0

0.3

0.1

0.0

0.3

0.7

0.1

0.8

2.4

0.7

0.1

0.8

0.7

2.3

0.2

0.0

0.3

0.2

0.0

0.3

1.3

0.2

0.0

1.5

1.3

0.2

0.0

1.5

1.8

0.4

0.0

0.3

2.5

1.8

0.4

0.0

0.3

2.5

0.7

0.0

0.3

1.7

0.7

0.8

0.0

0.3

1.7

0.7

0.0

0.7

0.3

0.0

0.3

0.6

0.0

0.6

0.5

0.0

0.5

6.1

1.8

0.8

1.4

10.0

5.6

1.8

0.8

1.3

9.6

3Q26

2Q26

Solar

Onshore Wind

Offshore Wind

Other

Total

Solar

Onshore Wind

Offshore Wind

Other

Total

0.7

0.4

1.5

0.3

2.9

0.9

0.5

1.5

0.0

2.8

3.6

2.0

13.9

4.1

23.7

3.7

1.9

14.3

4.3

24.3

1.1

0.6

0.0

1.7

1.1

0.5

0.0

1.6

0.8

0.0

0.8

0.0

0.8

11.1

3.4

0.0

4.4

19.0

10.8

3.1

0.0

4.9

18.8

0.6

1.0

0.0

1.7

0.7

1.0

0.0

1.8

1.0

0.0

1.0

1.4

0.0

1.4

2.5

1.1

2.6

1.1

7.3

2.6

1.1

2.6

1.1

7.3

21.6

8.6

18.0

9.9

58.0

21.9

8.1

18.4

10.4

58.8

10. Alternative Performance Measures (Non-GAAP measures)

10.1 Adjustment items to net income (TotalEnergies share)

3Q26

2Q26

3Q25

9M26

9M25

8,263

5,438

3,683

19,511

10,221

(2,320)

(268)

(93)

(3,619)

(541)

(114)

(17)

284

121

284

(30)

(7)

(52)

(7)

(1,945)

(286)

(3,093)

(495)

(261)

(221)

(84)

(595)

(323)

1,227

(290)

(32)

2,444

(378)

259

(31)

(172)

168

(610)

(834)

(589)

(297)

(1,007)

(1,529)

9,097

6,027

3,980

20,518

11,750

10.2 Reconciliation of adjusted EBITDA with consolidated financial statements

10.2.1 Reconciliation of net income (TotalEnergies share) to adjusted EBITDA

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

8,263

5,438

+52%

3,683

19,511

10,221

+91%

834

589

+42%

297

1,007

1,529

-34%

9,097

6,027

+51%

3,980

20,518

11,750

+75%

+49%

190

210

-10%

4,741

3,365

+41%

2,281

11,430

7,314

+56%

3,233

3,075

+5%

3,277

9,405

9,381

116

+22%

104

301

283

+6%

821

817

808

2,429

2,349

+3%

(266)

(245)

(235)

(733)

(798)

17,809

13,179

+35%

10,295

43,540

30,489

+43%

10.2.2 Reconciliation of revenues from sales to adjusted EBITDA and net income (TotalEnergies share)

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

61,622

57,334

+7%

43,844

168,472

136,419

+23%

(37,008)

(37,734)

(26,940)

(103,861)

(86,036)

(8,160)

(7,954)

(7,555)

(24,677)

(22,685)

(134)

(95)

(64)

(362)

(242)

146

338

-57%

303

669

1,094

-39%

(222)

(164)

(101)

(500)

(550)

391

482

-19%

324

1,167

1,040

+12%

(184)

(208)

(591)

(660)

1,358

1,156

+17%

692

3,223

2,109

+53%

17,809

13,179

+35%

10,295

43,540

30,489

+43%

(3,233)

(3,075)

(3,277)

(9,405)

(9,381)

(116)

(95)

(104)

(301)

(283)

(821)

(817)

(808)

(2,429)

(2,349)

266

245

+9%

235

733

798

-8%

(4,741)

(3,365)

(2,281)

(11,430)

(7,314)

(67)

(45)

(80)

(190)

(210)

(834)

(589)

(297)

(1,007)

(1,529)

8,263

5,438

+52%

3,683

19,511

10,221

+91%

10.3 Investments – Divestments

Reconciliation of Cash flow used in investing activities to Net investments

3Q26

2Q26

3Q26

2Q26

3Q25

9M26

9M25

9M26

9M25

4,962

3,276

+51%

3,203

12,550

14,697

-15%

(1,815)

-75%

120

105

+14%

-100%

(242)

(463)

+40%

226

282

-20%

x30

x2.5

3,279

3,447

-5%

3,092

11,204

14,645

-23%

(1,510)

(1,247)

(381)

(2,929)

1,851

240

141

+70%

474

773

3,416

-77%

1,750

1,388

+26%

855

3,702

1,565

x2.4

-100%

121

188

-73%

4,789

4,694

+2%

3,473

14,133

12,794

+10%

137

+55%

299

222

+34%

413

452

-9%

408

1,166

1,401

-17%

(202)

(1,017)

(449)

(1,495)

(808)

118

-100%

(121)

114

(275)

* 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).

10.4 Cash flow

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

2Q26

3Q25

9M26

9M25

9M26

9M25

15,390

10,858

+42%

8,349

29,609

16,872

+75%

1,593

1,667

-4%

1,382

(3,733)

(3,180)

1,556

(506)

(55)

2,899

(434)

-100%

(6)

-10%

-75%

120

105

+14%

12,255

9,804

+25%

7,061

30,635

20,671

+48%

(379)

(384)

(382)

(1,166)

(992)

12,634

10,188

+24%

7,443

31,801

21,663

+47%

4,789

4,694

+2%

3,473

14,133

12,794

+10%

7,466

5,110

+46%

3,588

16,502

7,877

x2.1

3,279

3,447

-5%

3,092

11,204

14,645

-23%

8,976

6,357

+41%

3,969

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.

10.5 Gearing ratio

09/30/2026

06/30/2026

09/30/2025

11,966

11,229

11,830

180

209

568

(3,327)

(3,720)

(4,607)

731

114

40,960

41,157

41,296

(2,510)

(1,601)

(1,168)

(34,208)

(27,678)

(23,415)

13,792

19,710

24,553

132,698

128,408

115,281

4,268

2,545

2,384

136,966

130,953

117,665

9.1%

13.1%

17.3%

8,773

8,904

8,827

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.

10.6 Return on average capital employed

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Company

10,769

4,932

2,244

8,001

1,570

26,646

66,102

43,872

26,960

7,123

7,565

149,974

69,581

51,030

29,648

3,087

4,671

156,226

15.9%

10.4%

7.9%

156.7%

25.7%

17.4%

10.7 Pay-out

9M26

9M25

2025

6,372

5,961

8,121

3,744

5,997

7,496

33%

56%

55%

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 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.

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.

Free cash flow is a non-GAAP financial measure and its most directly comparable IFRS measure is Cash flow from operating activities. Free cash flow refers to Net cash flow minus cash flows with non-controlling interests, payments on perpetual subordinated notes, repayments of leases and repayment (issuance) of shares of parent company shareholders. Free 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 Net investments and certain cash flows from financing activities. This performance indicator corresponds to the cash flow available to repay the other debts and allocate cash to parent company shareholders distribution or share buybacks.

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: 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.

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 press release presents the results for the third quarter of 2026 and first nine months of 2026 from the consolidated financial statements of TotalEnergies SE as of September 30, 2026 (unaudited). The consolidated financial statements of TotalEnergies SE as of September 30, 2026 have been subject to a limited review by the Statutory Auditors. The notes to the consolidated financial statements (unaudited) are available on the Corporation’s website www.totalenergies.com.

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. 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 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, fluctuations in the price of crude oil and natural gas, changes in demand and prices 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. 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 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 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. Users 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.

In addition to IFRS measures, certain alternative performance indicators are presented, such as performance indicators excluding the adjustment items described below (adjusted net operating income, adjusted net income), net cash flow, cash flow after organic investments, normalized gearing, return on equity (ROE), return on average capital employed (ROACE), gearing ratio, cash flow from operations excluding working capital, debt adjusted cash flow, and the payout ratio. These indicators are meant to facilitate the analysis of the financial performance of TotalEnergies and the comparison of income between periods. They allow investors to track the measures used internally to manage and measure the performance of TotalEnergies.

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. TotalEnergies measures performance at the segment level on the basis of adjusted net operating income.

These adjustment items include:

(i) 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.

(ii) 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.

(iii) 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.

The adjusted results (adjusted net operating income, adjusted net income) are defined as replacement cost results, adjusted for special items, excluding the effect of changes in fair value.

Euro amounts presented for the adjusted fully-diluted earnings per share represent dollar amounts converted at the average euro-dollar (€-$) exchange rate for the applicable period and are not the result of financial statements prepared in euros.

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’s 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.

(1)

Refer to Glossary pages 23 & 24 for the definitions and further information on alternative performance measures (Non-GAAP measures) and to page 19 and following for reconciliation tables.

(2)

Some of the transactions mentioned in the highlights remain subject to the agreement of the authorities or to the fulfilment of conditions precedent under the terms of the agreements

(3)

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).

(4)

In accordance with IFRS rules, adjusted fully diluted earnings per share corresponds to the ratio between the adjusted net income (TotalEnergies’ share), reduced by the coupon on perpetual subordinated notes and the weighted average diluted number of shares outstanding during the period, excluding shares held by TotalEnergies SE.

(5)

Average €-$ exchange rate: 1.1505 in the 3 rd quarter 2026, 1.1629 in the 2 nd quarter 2026, 1.1681 in the 3 rd quarter 2025, 1.1610 in the first nine months of 2026 and 1.1188 in the first nine months of 2025.

(6)

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

(7)

Sales in $ / Sales in volume for consolidated affiliates.

(8)

Sales in $ / Sales in volume for consolidated affiliates.

(9)

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

(10)

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.

(11)

The seven greenhouse gases in the Kyoto protocol, namely CO 2, CH 4, N 2O, HFCs, PFCs, SF 6 and NF 3, with their respective 100-year time horizon GWP (Global Warming Potential) as described in the most recent IPCC report. HFCs, PFCs, SF 6 and NF 3 are virtually absent from the Company’s emissions and are not accounted for by the Company.

(12)

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 (H 2). If not stated otherwise, TotalEnergies reports Scope 2 GHG emissions according to the market-based method defined by the GHG Protocol.

(13)

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.

(14)

Company production = E&P production + Integrated LNG production.

(15)

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

(16)

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.

(17)

In a 60-70 $/b Brent environment.

(18)

End-of-period data.

(19)

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

(20)

End-of-period data.

TotalEnergies financial statements

Third quarter 2026 consolidated accounts, IFRS

Consolidated statement of income

TotalEnergies

(unaudited)

3rd quarter

2nd quarter

3rd quarter

(M$) (a)

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 expenses

(403)

(279)

(528)

Financial interest on debt

(821)

(817)

(808)

Financial income and expenses from cash & cash equivalents

266

245

265

Cost of net debt

(555)

(572)

(543)

Other financial income

391

482

366

Other financial expenses

(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

Earnings 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

2025

Consolidated net income

8,363

5,475

3,762

Other comprehensive income

Actuarial gains and losses

–

(2)

Change in fair value of investments in equity instruments

(74)

(29)

(96)

Tax effect

(7)

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

Share of other comprehensive income of equity affiliates, net amount

327

(112)

Other

Tax effect

(650)

(113)

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

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 expenses

(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

Change in fair value of investments in equity instruments

(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

Share of other comprehensive income of equity affiliates, net amount

545

(386)

Other

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)

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 receivable, 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

7,059

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

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

(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

135

133

Proceeds from disposals of non-current investments

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)

Net issuance (repayment) of non-current debt

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

(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

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 and retained earnings

Currency translation adjustment

Treasury shares

Shareholders' equity - TotalEnergies Share

Non-controlling interests

Total shareholders' equity

(M$)

Number

Amount

Number

Amount

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

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

462

–

492

–

492

Purchase of treasury shares

–

(99,060,045)

(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)

(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

2,928

Other comprehensive income

–

(130)

(180)

–

(310)

(299)

Comprehensive income

–

2,776

(180)

–

2,596

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)

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

–

308

313

Other items

–

(2)

–

(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)

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

–

Payments on perpetual subordinated notes

–

(281)

–

(281)

–

(281)

Other operations with non-controlling interests

–

1,704

1,728

Other items

–

(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

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

External sales

1,644

3,470

4,221

30,778

26,693

–

66,819

Intersegment sales

10,528

1,934

1,985

11,409

228

(26,117)

–

Excise taxes

–

(188)

(4,772)

–

(4,960)

Revenues from sales

12,172

5,404

6,206

41,999

22,149

(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

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

Total expenditures

3,026

359

1,186

278

180

–

5,114

Total divestments

(121)

129

–

152

Cash flow from operating activities

4,905

1,213

1,636

6,290

1,622

(276)

–

15,390

Information by business segment

TotalEnergies

(unaudited)

2nd quarter 2026

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

External sales

1,830

1,880

3,846

28,792

25,422

–

61,771

Intersegment sales

9,221

2,258

1,511

11,058

260

(24,349)

–

Excise taxes

–

(164)

(4,510)

–

(4,674)

Revenues from sales

11,051

4,138

5,357

39,686

21,172

(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

(31)

–

1,620

Tax on net operating income

(2,570)

(167)

(36)

(259)

(183)

–

(3,203)

Adjustments (a)

(7)

(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

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

Total expenditures

2,282

874

1,419

385

197

–

5,251

Total divestments

460

(36)

1,356

178

(3)

–

1,975

Cash flow from operating activities

5,546

2,137

(239)

3,565

549

(700)

–

10,858

Information by business segment

TotalEnergies

(unaudited)

3rd quarter 2025

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

External sales

1,392

1,995

3,955

21,205

20,138

–

48,691

Intersegment sales

8,892

1,587

434

7,122

234

(18,307)

–

Excise taxes

–

(201)

(4,646)

–

(4,847)

Revenues from sales

10,284

3,582

4,389

28,126

15,726

(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)

(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

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

Total expenditures

2,409

611

773

402

205

–

4,435

Total divestments

622

465

–

1,232

Cash flow from operating activities

4,187

789

674

2,839

287

(427)

–

8,349

Information by business segment

TotalEnergies

(unaudited)

9 months 2026

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

External sales

4,593

8,280

13,508

83,750

72,604

–

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)

–

(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

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

Total expenditures

8,168

1,882

3,506

1,279

529

223

–

15,587

Total divestments

801

147

1,660

172

244

–

3,037

Cash flow from operating activities

13,420

2,230

1,252

11,419

3,239

(1,951)

–

29,609

Information by business segment

TotalEnergies

(unaudited)

9 months 2025

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

External sales

4,330

7,669

13,880

65,591

59,083

–

150,572

Intersegment sales

26,481

6,708

1,819

20,939

567

(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

(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

Exploration & Production

Integrated LNG

Integrated Power

Refining & Chemicals

Marketing & Services

Corporate

Intercompany

Total

(M$)

Total expenditures

8,642

2,390

4,212

995

611

155

–

17,005

Total divestments

1,060

500

486

180

–

2,308

Cash flow from operating activities

11,128

3,071

1,074

1,743

1,483

(1,627)

–

16,872

Non GAAP Financial Measures

Alternative Performance Measures (Non-GAAP)

TotalEnergies

(unaudited)

1. Reconciliation of cash flow used in investing activities to Net investments

1.1 Exploration & Production

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

3,147

1,822

1,787

76%

Cash flow used in investing activities ( a ) *

7,367

7,582

-3%

(647)

–

Other transactions with non-controlling interests ( b )

(647)

–

Organic loan repayment from equity affiliates ( c )

–

Change in debt from renewable projects financing ( d ) **

–

-13%

Capex linked to capitalized leasing contracts ( e )

201

278

-28%

x15

Expenditures related to carbon credits ( f )

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)

of which net acquisitions ( g - i )

(896)

225

197

105

522

-62%

Acquisitions ( g )

524

1,160

-55%

518

453

575

-10%

Assets sales ( i )

1,420

935

52%

–

Change in debt (partner share) and capital gain from renewable project sales

–

2,921

2,231

1,922

52%

Of which organic investments ( h )

7,876

7,659

111

58%

Capitalized exploration

244

209

17%

11%

Increase in non-current loans

111

162

-31%

(8)

(7)

(47)

Repayment of non-current loans, excluding organic loan repayment from equity affiliates

(28)

(125)

–

Change in debt from renewable projects (TotalEnergies share)

–

*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)

1.2 Integrated LNG

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

327

910

146

x2.2

Cash flow used in investing activities ( a )

1,735

1,890

-8%

(1,168)

–

Other transactions with non-controlling interests ( b )

(1,168)

–

-93%

Organic loan repayment from equity affiliates ( c )

-91%

–

Change in debt from renewable projects financing ( d ) *

–

Capex linked to capitalized leasing contracts ( e )

x2.3

–

Expenditures related to carbon credits ( f )

–

(834)

912

196

Net investments ( a + b + c + d + e + f = g - i + h )

580

1,941

-70%

(1,162)

(134)

of which net acquisitions ( g - i )

(1,066)

116

(60)

Acquisitions ( g )

105

194

-46%

1,168

x15.8

Assets sales ( i )

1,171

x15

–

Change in debt (partner share) and capital gain from renewable project sales

–

328

908

330

-1%

Of which organic investments ( h )

1,646

1,825

-10%

x6.5

Capitalized exploration

x4.2

174

-72%

Increase in non-current loans

189

543

-65%

(29)

(345)

Repayment of non-current loans, excluding organic loan repayment from equity affiliates

(140)

(375)

–

Change in debt from renewable projects (TotalEnergies share)

–

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

Alternative Performance Measures (Non-GAAP)

TotalEnergies

(unaudited)

1.3 Integrated Power

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

1,100

692

59%

Cash flow used in investing activities ( a )

1,846

3,726

-50%

–

Other transactions with non-controlling interests ( b )

–

(1)

Organic loan repayment from equity affiliates ( c )

116

100%

–

(242)

Change in debt from renewable projects financing ( d ) *

(463)

(1)

–

Capex linked to capitalized leasing contracts ( e )

–

Expenditures related to carbon credits ( f )

–

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)

of which net acquisitions ( g - i )

(851)

1,658

x2.9

Acquisitions ( g )

2,048

-97%

775

159

-62%

Assets sales ( i )

915

390

x2.3

–

121

-100%

Change in debt (partner share) and capital gain from renewable project sales

188

-73%

1,135

920

596

90%

Of which organic investments ( h )

2,878

1,663

73%

–

Capitalized exploration

–

250

320

162

54%

Increase in non-current loans

671

580

16%

(15)

(1,014)

(43)

Repayment of non-current loans, excluding organic loan repayment from equity affiliates

(1,101)

(226)

–

118

(121)

Change in debt from renewable projects (TotalEnergies share)

114

(275)

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

1.4 Refining & Chemicals

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

149

365

385

-61%

Cash flow used in investing activities ( a )

1,107

930

19%

–

Other transactions with non-controlling interests ( b )

–

Organic loan repayment from equity affiliates ( c )

–

Change in debt from renewable projects financing ( d ) *

–

Capex linked to capitalized leasing contracts ( e )

–

Expenditures related to carbon credits ( f )

–

149

365

385

-61%

Net investments ( a + b + c + d + e + f = g - i + h )

1,107

930

19%

(1)

(2)

of which net acquisitions ( g - i )

(26)

–

Acquisitions ( g )

x6.9

Assets sales ( i )

-92%

–

Change in debt (partner share) and capital gain from renewable project sales

–

150

366

387

-61%

Of which organic investments ( h )

1,034

956

–

Capitalized exploration

–

88%

Increase in non-current loans

131

(127)

(19)

(15)

Repayment of non-current loans, excluding organic loan repayment from equity affiliates

(169)

(28)

–

Change in debt from renewable projects (TotalEnergies share)

–

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

Alternative Performance Measures (Non-GAAP)

TotalEnergies

(unaudited)

1.5 Marketing & Services

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

166

160

Cash flow used in investing activities ( a )

285

431

-34%

–

Other transactions with non-controlling interests ( b )

–

Organic loan repayment from equity affiliates ( c )

–

Change in debt from renewable projects financing ( d ) *

–

Capex linked to capitalized leasing contracts ( e )

–

Expenditures related to carbon credits ( f )

–

166

160

Net investments ( a + b + c + d + e + f = g - i + h )

285

431

-34%

(3)

(155)

(43)

of which net acquisitions ( g - i )

(194)

(121)

–

Acquisitions ( g )

–

-100%

155

-93%

Assets sales ( i )

194

124

56%

–

Change in debt (partner share) and capital gain from renewable project sales

–

169

174

203

-17%

Of which organic investments ( h )

479

552

-13%

–

Capitalized exploration

–

-28%

Increase in non-current loans

-45%

(10)

(20)

Repayment of non-current loans, excluding organic loan repayment from equity affiliates

(43)

(38)

–

Change in debt from renewable projects (TotalEnergies share)

–

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

2. Reconciliation of cash flow from operating activities to CFFO

2.1 Exploration & Production

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

4,905

5,546

4,187

17%

Cash flow from operating activities ( a )

13,420

11,128

21%

(484)

(231)

203

(Increase) decrease in working capital ( b )

(2,310)

(907)

–

Inventory effect ( c )

–

Capital gain from renewable projects sales ( d )

–

Organic loan repayments from equity affiliates ( e )

–

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%

Alternative Performance Measures (Non-GAAP)

TotalEnergies

(unaudited)

2.2 Integrated LNG

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

1,213

2,137

789

54%

Cash flow from operating activities ( a )

2,230

3,071

-27%

(508)

1,304

(299)

(Increase) decrease in working capital ( b ) *

(2,108)

(424)

–

Inventory effect ( c )

–

Capital gain from renewable projects sales ( d )

–

-93%

Organic loan repayments from equity affiliates ( e )

-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.

2.3 Integrated Power

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

1,636

(239)

674

x2.4

Cash flow from operating activities ( a )

1,252

1,074

17%

873

(853)

x15.6

(Increase) decrease in working capital ( b ) *

(629)

(558)

–

Inventory effect ( c )

–

(6)

Capital gain from renewable projects sales ( d )

-10%

(1)

Organic loan repayments from equity affiliates ( e )

116

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.

Alternative Performance Measures (Non-GAAP)

TotalEnergies

(unaudited)

2.4 Refining & Chemicals

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

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)

1,097

(394)

(76)

Inventory effect ( c )

2,052

(396)

–

Capital gain from renewable projects sales ( d )

–

Organic loan repayments from equity affiliates ( e )

–

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

2.5 Marketing & Services

3rd quarter

2nd quarter

3rd quarter

3rd quarter 2026

(in millions of dollars)

9 months 2026

9 months 2025

9 months 2026

2026

2025

3rd quarter 2025

9 months 2025

1,622

549

287

x5.7

Cash flow from operating activities ( a )

3,239

1,483

x2.2

484

(186)

(372)

(Increase) decrease in working capital ( b )

446

(312)

459

(112)

x21.9

Inventory effect ( c )

847

(38)

–

Capital gain from renewable projects sales ( d )

–

Organic loan repayments from equity affiliates ( e )

–

679

847

638

Cash flow from operations excluding working capital (CFFO) ( f = a - b - c + d + e )

1,946

1,833

Alternative Performance Measures (Non-GAAP)

TotalEnergies

(unaudited)

3. 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

InterCompany

Company

Adjusted net operating income 3rd quarter 2026

3,157

1,885

602

3,601

467

(95)

–

9,617

Adjusted net operating income 2nd quarter 2026

3,231

807

533

1,800

500

(276)

–

6,595

Adjusted net operating income 1st quarter 2026

2,576

1,318

545

1,599

262

(308)

–

5,992

Adjusted net operating income 4th 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 - Capital employed

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%

Alternative Performance Measures (Non-GAAP)

TotalEnergies

(unaudited)

4. Reconciliation of consolidated net income to adjusted net operating income

3rd quarter

2nd quarter

3rd quarter

9 months 2026

9 months 2025

2026

2025

(in millions of dollars)

8,363

5,475

3,762

Consolidated net income ( a )

19,770

10,429

(453)

(523)

(499)

Net cost of net debt ( b )

(1,496)

(1,370)

(2,320)

(268)

(113)

Special items affecting net operating income

(3,619)

(596)

(114)

(17)

284

Gains (losses) on disposals of assets

121

284

–

(30)

(7)

Restructuring charges

(52)

(7)

(1,945)

–

(286)

Asset impairment and provisions charges

(3,093)

(495)

(261)

(221)

(104)

Other items

(595)

(378)

1,260

(298)

(33)

After-tax inventory effect : FIFO vs. replacement cost

2,513

(380)

259

(31)

(172)

Effect of changes in fair value

168

(610)

(801)

(597)

(318)

Total adjustments affecting net operating income ( c )

(938)

(1,586)

9,617

6,595

4,579

Adjusted net operating income ( a - b - c )

22,204

13,385