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.

• CFO Jean-Pierre Sbraire presented the 2025 results and performance, highlighting growth and preparations for future initiatives.

• 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.

• Return on average capital employed (ROACE) reached 12.6%, with return on equity at 13.6%.

• Investments totaled $17.1B, split between new oil and gas projects, Integrated Power, and maintenance; $16.8B organic investments, $3.9B acquisitions, $3.6B divestments.

• Shareholder returns included $8.1B in dividends (+7.2% YoY), $7.5B in share buybacks, and share price up 38.9% since NYSE listing.

Board and executive committee updates

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

• Board composition at end-2026: 14 directors, 82% independent, 50% women, 6 nationalities.

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

• Lead Independent Director ensured governance standards, chaired key committees, and led board assessments.

• Four specialized committees met 16 times with 100% attendance.