TotalEnergies (TTE) AGM 2026 summary

Opening remarks and agenda

• The meeting was held at the Coupole Tower, with shareholders attending in person, via video link, and webcast, ensuring broad participation and transparency.

• The Bureau was constituted with scrutineers from major shareholders, and the agenda included financial results, governance, compensation, sustainability, and Q&A.

Financial performance review

• 2025 saw strong operational and financial results: cash flow from operations reached $27.8B, net adjusted income $15.6B, and IFRS net income $13.1B.

• Production grew by over 4%, exceeding forecasts, with a cost per barrel of $5, the lowest among peers.

• Investments totaled $17.1B, split between new oil and gas projects, Integrated Power, and maintenance.

• Shareholder returns included $8.1B in dividends (+7.2% YoY) and $7.5B in share buybacks, representing 55% of cash flow.

• The company outperformed peers on ROACE, shareholder yield, reserve life, and production cost.

Board and executive committee updates

• The board met nine times in 2025, with near 100% attendance, focusing on transition strategy and governance.

• Board composition will be 14 directors, 50/50 gender balance, with new appointments and renewals proposed.

• Statutory age limits for chairman and CEO were proposed to be raised to 75 and 70, respectively.