{"id":43011,"date":"2026-07-23T11:06:00","date_gmt":"2026-07-23T09:06:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=40973f6cc3e265638ea9b8d935994465"},"modified":"2026-07-23T11:06:00","modified_gmt":"2026-07-23T09:06:00","slug":"totalenergies-se-second-quarter-and-first-half-2026-results","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=43011","title":{"rendered":"TotalEnergies SE: Second Quarter and First Half 2026 Results"},"content":{"rendered":"

\nIn a high commodity price environment, TotalEnergies is leveraging its integrated model to deliver increasing cash flow and adjusted net income of $9.8 billion and $6 billion over the quarter<\/b><\/p>

\nTotalEnergies is giving priority to deleveraging, with a gearing ratio down to 13%, and to increasing the dividend with a second quarter dividend at \u20ac0.90\/share, up 5.9%<\/b><\/p>

PARIS--(BUSINESS WIRE)--Regulatory News:<\/p><\/a><\/a>

\nTotalEnergies SE (Paris:TTE) (LSE:TTE) (NYSE:TTE):<\/p>\n\n\n\n\n\n\n\n
\n\n

\n2Q26<\/b><\/p><\/td>

\nChangevs 1Q26<\/b><\/td>\n\n

\n1H26<\/b><\/p><\/td>

\nChangevs 1H25<\/b><\/td>\n<\/tr>\n
Cash flow from operations excluding working capital (CFFO)(1)<\/sup> (B$)<\/b><\/td>\n\n

\n9.8<\/b><\/p><\/td>

\n\u00a0<\/p><\/td>

\n+14%<\/i><\/b><\/p><\/td>

\n\u00a0<\/p><\/td>

\n18.4<\/b><\/p><\/td>

\n\u00a0<\/p><\/td>

\n+35%<\/i><\/b><\/p><\/td><\/tr>\n

Adjusted net income (TotalEnergies share)(1)<\/sup><\/b><\/td>\n\n

\n\u00a0<\/p><\/td>

\n\u00a0<\/p><\/td>

\n\u00a0<\/p><\/td>

\n\u00a0<\/p><\/td>

\n\u00a0<\/p><\/td>

\n\u00a0<\/p><\/td>

\n\u00a0<\/p><\/td><\/tr>\n

- in billions of dollars (B$)<\/b><\/td>\n\n

\n6.0<\/b><\/p><\/td>

\n\u00a0<\/p><\/td>

\n+12%<\/i><\/b><\/p><\/td>

\n\u00a0<\/p><\/td>

\n11.4<\/b><\/p><\/td>

\n\u00a0<\/p><\/td>

\n+47%<\/i><\/b><\/p><\/td><\/tr>\n

- in dollars per share (fully-diluted)<\/td>\n\n

\n2.68<\/p><\/td>

\n\u00a0<\/p><\/td>

\n+9%<\/i><\/p><\/td>

\n\u00a0<\/p><\/td>

\n5.14<\/p><\/td>

\n\u00a0<\/p><\/td>

\n+51%<\/i><\/p><\/td><\/tr>\n

Net income (TotalEnergies share) (B$)<\/td>\n\n

\n5.4<\/p><\/td>

\n\u00a0<\/p><\/td>

\n-6%<\/i><\/p><\/td>

\n\u00a0<\/p><\/td>

\n11.2<\/p><\/td>

\n\u00a0<\/p><\/td>

\n+72%<\/i><\/p><\/td><\/tr>\n

Adjusted EBITDA(1)<\/sup> (B$)<\/td>\n\n

\n13.2<\/p><\/td>

\n\u00a0<\/p><\/td>

\n+5%<\/i><\/p><\/td>

\n\u00a0<\/p><\/td>

\n25.7<\/p><\/td>

\n\u00a0<\/p><\/td>

\n+27%<\/i><\/p><\/td><\/tr>\n<\/table>

\nThe Board of Directors of TotalEnergies SE, chaired by CEO Patrick Pouyann\u00e9, met on July 22, 2026, to approve the 2nd<\/sup> quarter 2026 financial statements. On the occasion, Patrick Pouyann\u00e9 said:<\/p>

\n\u201c<\/i>In a high-price environment related to the Middle East conflict, TotalEnergies is leveraging its integrated model and portfolio diversification to post adjusted net income of $6.0 billion and cash flow of $9.8 billion in the second quarter, up almost 15% quarter-to-quarter.<\/i><\/p>

\nSecond quarter Oil & Gas production reached 2.395 Mboe\/d, benefiting from organic production growth of more than 4% year-on-year, notably from the ramp-up of projects started last year (Mero 4 and Lapa SW in Brazil, Ballymore in the U.S. and Mabruk in Libya) which partly compensated for the impact of production losses in the Middle East to an average 210 kboe\/d over the quarter. Despite a lower lifting level because of difficulties to access the Strait of Hormuz, Exploration & Production posted adjusted net operating income of $3.2 billion and cash flow of $5.8 billion, up by more than 25% over the quarter, capturing the increase in the average selling price of liquids (+$17.9\/b compared to the first quarter 2026). The Company also kept its Upstream operating costs at $5\/b.<\/i><\/p>

\nThe Integrated LNG segment achieved adjusted net operating income and cash flow of $0.8 billion in the second quarter of 2026, decreasing significantly due to the underperformance of gas trading in a broadly flat to declining market in Europe, whereas it had outperformed in the first quarter. The ECA LNG project, located on the Pacific coast of Mexico, started-up early July, strengthening the diversification of the LNG portfolio of the Company towards the Asian market. Moreover, the Company pursued its strategy of signing long term oil-indexed LNG contracts with Chugoku in Japan and Hangzhou Gas in China.<\/i><\/p>

\nIntegrated Power generated adjusted cash flow of $700 million, up strongly, by 25%, supported by the contribution, in line with expectations, of EPH assets since early May, net operating income is stable quarter-to-quarter.<\/i><\/p>

\nDownstream posted cash flow of $2.9 billion, up sharply by 35% and adjusted net operating income of $2.3 billion, up 24% in the quarter, driven by the ability of the Refining & Chemicals segment to fully capture the increase in refining and petrochemical margins and the strong performance of crude oil and petroleum products trading activities, at the same level as in the first quarter of 2026. Downstream results also benefited from the outstanding results and cash flow of Marketing & Services activities.<\/i><\/p>

\nNet investments in the second quarter amounted to $3.4 billion and $7.9 billion in the first half of 2026, consistent with the annual guidance of $15 billion. The gearing ratio stood at 13.1% at the end of the quarter, an improvement of 2.4 percentage points, benefiting from a $3.3 billion reduction in net debt.<\/i><\/p>

\nGiven the Company\u2019s strong cash flow generation in the first half of the year and its ability to deliver growth quarter after quarter, the Board of Directors confirmed the priority to the dividend and to the deleveraging of the Company. It has therefore decided the distribution of a second interim dividend of \u20ac0.90\/share for fiscal year 2026, up 5.9% compared to 2025. The Board also authorized the continuation of share buybacks up to $1.5 billion for the third quarter.<\/i>\u201d<\/i><\/p>

\n1. Highlights (2)<\/sup><\/b><\/p>

\nUpstream<\/span><\/p>

    \n
  • \nUnited Arab Emirates:\n
      \n
    • \nEntry with a 10% stake into the Bab Gas Cap onshore concession in Abu Dhabi<\/li>\n
    • \nFinal Investment Decision on the Umm Shaif Gas Cap project, targeting over 600 MMcf\/d of gas production by 2030 and the monetization of associated condensates<\/li>\n<\/ul><\/li>\n
    • \nMalaysia: Sale of a non-operated interest in the Marjoram gas field<\/li>\n
    • \nSyria: Cooperation agreement with the Syrian Petroleum Company (SPC) for the exploration of offshore block 3<\/li>\n
    • \nEgypt: Signature of a cooperation agreement with EGAS on offshore exploration opportunities<\/li>\n
    • \nSigning an agreement with Dell Technologies and NVIDIA for the construction of Pangea 5, the next high-performance supercomputer, with a computing power of 150 petaflops<\/li>\n<\/ul>

      \nIntegrated LNG<\/span><\/p>

        \n
      • \nMexico (Pacific Coast): Start-up of ECA LNG plant<\/li>\n<\/ul>

        \nIntegrated Power<\/span><\/p>

          \n
        • \nEurope: Completion of the acquisition of 50% of a portfolio of flexible power generation assets from EPH (UK, Italy, the Netherlands, France)<\/li>\n
        • \nKazakhstan: Final Investment Decision for the Mirrny project, a giant onshore wind farm (1 GW) with batteries (600MWh) producing approximately 100 TWh of renewable electricity over 25 years<\/li>\n
        • \nPhilippines: Start-up of the construction of a 440 MWp solar power plant, aiming for commissioning at the end of 2027 and a production of 13.5 TWh over 20 years<\/li>\n
        • \nEurope: Sale of all distributed solar assets in seven European countries<\/li>\n<\/ul>

          \nSocial and environmental responsibility<\/span><\/p>

            \n
          • \nLaunch of MethaneLive, a new global methane emissions monitoring center<\/li>\n
          • \nAllocation of a fuel bonus of $200 (\u20ac200 in Europe) to its 100,000 employees* worldwide to offset the increase in energy prices<\/li>\n
          • \nSuccess of the 2026 capital increase reserved for TotalEnergies\u2019 employees<\/li>\n
          • \nMaintaining consumer protection measures through the price cap on gasoline and diesel in France for the duration of the Middle East conflict<\/li>\n<\/ul>

            \n2. Key figures from TotalEnergies\u2019 consolidated financial statements (1)<\/sup><\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

            \n2Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q25<\/b><\/p><\/td>

            		\nIn millions of dollars, except effective tax rate,earnings per share and number of shares<\/b><\/td>\n\n

            \n1H26<\/b><\/p><\/td>

            		\n

            \n1H25<\/b><\/p><\/td>

            		\n

            \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

            \n13,179<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n12,552<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+5%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n9,690<\/p><\/td>

            		\nAdjusted EBITDA (1)<\/sup><\/td>\n\n

            \n25,731<\/p><\/td>

            		\n

            \n20,194<\/p><\/td>

            		\n

            \n+27%<\/i><\/p><\/td><\/tr>\n

            \n6,871<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n6,300<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+9%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n4,390<\/p><\/td>

            		\nAdjusted net operating income from business segments<\/td>\n\n

            \n13,171<\/p><\/td>

            		\n

            \n9,182<\/p><\/td>

            		\n

            \n+43%<\/i><\/p><\/td><\/tr>\n

            \n3,231<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2,576<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+25%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,974<\/p><\/td>

            		\nExploration & Production<\/td>\n\n

            \n5,807<\/p><\/td>

            		\n

            \n4,425<\/p><\/td>

            		\n

            \n+31%<\/i><\/p><\/td><\/tr>\n

            \n807<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,318<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-39%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,041<\/p><\/td>

            		\nIntegrated LNG<\/td>\n\n

            \n2,125<\/p><\/td>

            		\n

            \n2,335<\/p><\/td>

            		\n

            \n-9%<\/i><\/p><\/td><\/tr>\n

            \n533<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n545<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-2%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n574<\/p><\/td>

            		\nIntegrated Power<\/td>\n\n

            \n1,078<\/p><\/td>

            		\n

            \n1,080<\/p><\/td>

            		\n

            \n-<\/i><\/p><\/td><\/tr>\n

            \n1,800<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,599<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+13%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n389<\/p><\/td>

            		\nRefining & Chemicals<\/td>\n\n

            \n3,399<\/p><\/td>

            		\n

            \n690<\/p><\/td>

            		\n

            \nx4.9<\/i><\/p><\/td><\/tr>\n

            \n500<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n262<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+91%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n412<\/p><\/td>

            		\nMarketing & Services<\/td>\n\n

            \n762<\/p><\/td>

            		\n

            \n652<\/p><\/td>

            		\n

            \n+17%<\/i><\/p><\/td><\/tr>\n

            \n1,156<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n709<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+63%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n702<\/p><\/td>

            		\nContribution of equity affiliates to adjusted net income<\/td>\n\n

            \n1,865<\/p><\/td>

            		\n

            \n1,417<\/p><\/td>

            		\n

            \n+32%<\/i><\/p><\/td><\/tr>\n

            \n39.3%<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n39.1%<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n41.5%<\/p><\/td>

            		\nEffective tax rate (3)<\/sup><\/td>\n\n

            \n39.2%<\/p><\/td>

            		\n

            \n41.4%<\/p><\/td>

            		\n

            \n-<\/i><\/p><\/td><\/tr>\n

            \n6,027<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n5,394<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+12%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n3,578<\/p><\/td>

            		\nAdjusted net income (TotalEnergies share) (1)<\/sup><\/td>\n\n

            \n11,421<\/p><\/td>

            		\n

            \n7,770<\/p><\/td>

            		\n

            \n+47%<\/i><\/p><\/td><\/tr>\n

            \n2.68<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2.45<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+9%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1.57<\/p><\/td>

            		\nAdjusted fully-diluted earnings per share (dollars) (4)<\/sup><\/td>\n\n

            \n5.14<\/p><\/td>

            		\n

            \n3.41<\/p><\/td>

            		\n

            \n+51%<\/i><\/p><\/td><\/tr>\n

            \n2.31<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2.10<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+10%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1.38<\/p><\/td>

            		\nAdjusted fully-diluted earnings per share (euros) (5)<\/sup><\/td>\n\n

            \n4.41<\/p><\/td>

            		\n

            \n3.12<\/p><\/td>

            		\n

            \n+41%<\/i><\/p><\/td><\/tr>\n

            \n2,216<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2,164<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+2%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2,224<\/p><\/td>

            		\nFully-diluted weighted-average shares (millions)<\/td>\n\n

            \n2,187<\/p><\/td>

            		\n

            \n2,236<\/p><\/td>

            		\n

            \n-2%<\/i><\/p><\/td><\/tr>\n

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            		\n\n\n

            \n\u00a0<\/p><\/td>

            		\n

            \n\u00a0<\/p><\/td>

            		\n

            \n-<\/i><\/p><\/td><\/tr>\n

            \n5,438<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n5,810<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-6%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2,687<\/p><\/td>

            		\nNet income (TotalEnergies share)<\/td>\n\n

            \n11,248<\/p><\/td>

            		\n

            \n6,538<\/p><\/td>

            		\n

            \n+72%<\/i><\/p><\/td><\/tr>\n

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            		\n\n\n

            \n\u00a0<\/p><\/td>

            		\n

            \n\u00a0<\/p><\/td>

            		\n

            \n-<\/i><\/p><\/td><\/tr>\n

            \n4,694<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n4,650<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+1%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n4,819<\/p><\/td>

            		\nOrganic investments (1)<\/sup><\/td>\n\n

            \n9,344<\/p><\/td>

            		\n

            \n9,320<\/p><\/td>

            		\n

            \n-<\/i><\/p><\/td><\/tr>\n

            \n(1,247)<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n(172)<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \nns<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,813<\/p><\/td>

            		\nAcquisitions net of assets sales (1)<\/sup><\/td>\n\n

            \n(1,419)<\/p><\/td>

            		\n

            \n2,233<\/p><\/td>

            		\n

            \nns<\/i><\/p><\/td><\/tr>\n

            \n3,447<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n4,478<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-23%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n6,632<\/p><\/td>

            		\nNet investments (1)<\/sup><\/td>\n\n

            \n7,925<\/p><\/td>

            		\n

            \n11,553<\/p><\/td>

            		\n

            \n-31%<\/i><\/p><\/td><\/tr>\n

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            		\n\n\n

            \n\u00a0<\/p><\/td>

            		\n

            \n\u00a0<\/p><\/td>

            		\n

            \n-<\/i><\/p><\/td><\/tr>\n

            \n9,804<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n8,576<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+14%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n6,618<\/p><\/td>

            		\nCash flow from operations excluding working capital (CFFO) (1)<\/sup><\/td>\n\n

            \n18,380<\/p><\/td>

            		\n

            \n13,610<\/p><\/td>

            		\n

            \n+35%<\/i><\/p><\/td><\/tr>\n

            \n10,188<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n8,979<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+13%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n6,943<\/p><\/td>

            		\nDebt Adjusted Cash Flow (DACF) (1)<\/sup><\/td>\n\n

            \n19,167<\/p><\/td>

            		\n

            \n14,220<\/p><\/td>

            		\n

            \n+35%<\/i><\/p><\/td><\/tr>\n

            \n10,858<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n3,361<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \nx3.2<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n5,960<\/p><\/td>

            		\nCash flow from operating activities<\/td>\n\n

            \n14,219<\/p><\/td>

            		\n

            \n8,523<\/p><\/td>

            		\n

            \n+67%<\/i><\/p><\/td><\/tr>\n

            Gearing (1)<\/sup> of 13.1% at June 30, 2026 vs. 15.5% at March 31, 2024 and 17.9% at June 30, 2025<\/td>\n<\/tr>\n<\/table>

            \n3. Key figures of environment, greenhouse gas emissions and production<\/b><\/p>

            \n3.1 Environment \u2013 liquids and gas price realizations, refining margins<\/b><\/p>\n\n\n\n\n\n\n\n\n\n

            \n2Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q25<\/b><\/p><\/td>

            		\n\n\n

            \n1H26<\/b><\/p><\/td>

            		\n

            \n1H25<\/b><\/p><\/td>

            		\n

            \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

            \n103.8<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n81.1<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+28%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n67.9<\/p><\/td>

            		\nBrent ($\/b)<\/td>\n\n

            \n92.3<\/p><\/td>

            		\n

            \n71.9<\/p><\/td>

            		\n

            \n+28%<\/i><\/p><\/td><\/tr>\n

            \n2.9<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n3.5<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-17%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n3.5<\/p><\/td>

            		\nHenry Hub ($\/Mbtu)<\/td>\n\n

            \n3.2<\/p><\/td>

            		\n

            \n3.7<\/p><\/td>

            		\n

            \n-14%<\/i><\/p><\/td><\/tr>\n

            \n15.6<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n13.7<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+14%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n11.9<\/p><\/td>

            		\nTTF ($\/Mbtu)<\/td>\n\n

            \n14.7<\/p><\/td>

            		\n

            \n13.2<\/p><\/td>

            		\n

            \n+11%<\/i><\/p><\/td><\/tr>\n

            \n17.5<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n14.1<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+24%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n12.2<\/p><\/td>

            		\nJKM ($\/Mbtu)<\/td>\n\n

            \n15.8<\/p><\/td>

            		\n

            \n13.1<\/p><\/td>

            		\n

            \n+20%<\/i><\/p><\/td><\/tr>\n

            \n91.6<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n73.7<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+24%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n65.6<\/p><\/td>

            		\nAverage price of liquids (6),(7)<\/sup> ($\/b)Consolidated subsidiaries<\/td>\n\n

            \n82.2<\/p><\/td>

            		\n

            \n68.7<\/p><\/td>

            		\n

            \n+20%<\/i><\/p><\/td><\/tr>\n

            \n5.55<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n5.59<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-1%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n5.63<\/p><\/td>

            		\nAverage price of gas (6),(8)<\/sup> ($\/Mbtu)Consolidated subsidiaries<\/td>\n\n

            \n5.57<\/p><\/td>

            		\n

            \n6.13<\/p><\/td>

            		\n

            \n-9%<\/i><\/p><\/td><\/tr>\n

            \n10.20<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n8.48<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+20%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n9.10<\/p><\/td>

            		\nAverage price of LNG (6),(9)<\/sup> ($\/Mbtu)Consolidated subsidiaries and equity affiliates<\/td>\n\n

            \n9.29<\/p><\/td>

            		\n

            \n9.55<\/p><\/td>

            		\n

            \n-3%<\/i><\/p><\/td><\/tr>\n

            \n13.5<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n11.4<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n+19%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n4.7<\/p><\/td>

            		\nEuropean Refining Margin Marker (ERM) (6),(10)<\/sup> ($\/b)<\/td>\n\n

            \n12.4<\/p><\/td>

            		\n

            \n4.3<\/p><\/td>

            		\n

            \nx2.9<\/i><\/p><\/td><\/tr>\n<\/table>

            \n3.2 Greenhouse gas emissions (11)<\/sup><\/b><\/p>\n\n\n\n\n\n\n\n\n\n

            \n2Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q25<\/b><\/p><\/td>

            		\nScope 1+2 emissions (12)<\/sup> (MtCO2<\/sub>e)<\/b><\/td>\n\n

            \n1H26<\/b><\/p><\/td>

            		\n

            \n1H25<\/b><\/p><\/td>

            		\n

            \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

            \n7.3<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n7.9<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-8%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n8.0<\/p><\/td>

            		\nScope 1+2 from operated facilities (1)<\/sup><\/td>\n\n

            \n15.1<\/p><\/td>

            		\n

            \n16.4<\/p><\/td>

            		\n

            \n-8%<\/i><\/p><\/td><\/tr>\n

            \n6.4<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n6.9<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-7%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n7.1<\/p><\/td>

            		\nof which Oil & Gas<\/td>\n\n

            \n13.2<\/p><\/td>

            		\n

            \n14.3<\/p><\/td>

            		\n

            \n-8%<\/i><\/p><\/td><\/tr>\n

            \n0.9<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1.0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-10%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n0.9<\/p><\/td>

            		\nof which CCGT<\/td>\n\n

            \n1.9<\/p><\/td>

            		\n

            \n2.1<\/p><\/td>

            		\n

            \n-10%<\/i><\/p><\/td><\/tr>\n

            \n10.2<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n10.4<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-2%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n10.6<\/p><\/td>

            		\nScope 1+2 - ESRS share (1)<\/sup><\/td>\n\n

            \n20.6<\/p><\/td>

            		\n

            \n21.7<\/p><\/td>

            		\n

            \n-5%<\/i><\/p><\/td><\/tr>\n

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            		\n\n\n

            \n\u00a0<\/p><\/td>

            		\n

            \n\u00a0<\/p><\/td>

            		\n

            \n\u00a0<\/p><\/td><\/tr>\n

            \n2Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q25<\/b><\/p><\/td>

            		\nMethane emissions (ktCH4<\/sub>)<\/b><\/td>\n\n

            \n1H26<\/b><\/p><\/td>

            		\n

            \n1H25<\/b><\/p><\/td>

            		\n

            \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

            \n4<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n4<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n6<\/p><\/td>

            		\nMethane emissions from operated facilities (1)<\/sup><\/td>\n\n

            \n8<\/p><\/td>

            		\n

            \n11<\/p><\/td>

            		\n

            \n-27%<\/i><\/p><\/td><\/tr>\n

            \nEstimated quarterly emissions.<\/i><\/p><\/td><\/tr>\n<\/table>

            \nFirst half of 2026 Scope 3(13)<\/sup> Category 11 emissions are estimated at 163 Mt CO2<\/sub>e.<\/p>

            \n3.3 Production (14)<\/sup><\/b><\/p>\n\n\n\n\n\n\n\n\n

            \n2Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2Q25<\/b><\/p><\/td>

            		\n

            \nHydrocarbon production<\/b><\/p><\/td>

            		\n

            \n1H26<\/b><\/p><\/td>

            		\n

            \n1H25<\/b><\/p><\/td>

            		\n

            \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

            \n2,395<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2,553<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-6%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2,503<\/p><\/td>

            		\nHydrocarbon production (kboe\/d)<\/td>\n\n

            \n2,474<\/p><\/td>

            		\n

            \n2,531<\/p><\/td>

            		\n

            \n-2%<\/i><\/p><\/td><\/tr>\n

            \n1,298<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,326<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-2%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,343<\/p><\/td>

            		\nOil (including bitumen) (kb\/d)<\/td>\n\n

            \n1,312<\/p><\/td>

            		\n

            \n1,349<\/p><\/td>

            		\n

            \n-3%<\/i><\/p><\/td><\/tr>\n

            \n1,097<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,227<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-11%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,160<\/p><\/td>

            		\nGas (including condensates and associated NGL) (kboe\/d)<\/td>\n\n

            \n1,162<\/p><\/td>

            		\n

            \n1,182<\/p><\/td>

            		\n

            \n-2%<\/i><\/p><\/td><\/tr>\n

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n\u00a0<\/p><\/td>

            		\n\n\n

            \n\u00a0<\/p><\/td>

            		\n

            \n\u00a0<\/p><\/td>

            		\n

            \n\u00a0<\/p><\/td><\/tr>\n

            \n2,395<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2,553<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-6%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n2,503<\/p><\/td>

            		\nHydrocarbon production (kboe\/d)<\/td>\n\n

            \n2,474<\/p><\/td>

            		\n

            \n2,531<\/p><\/td>

            		\n

            \n-2%<\/i><\/p><\/td><\/tr>\n

            \n1,410<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,481<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-5%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n1,506<\/p><\/td>

            		\nLiquids (kb\/d)<\/td>\n\n

            \n1,445<\/p><\/td>

            		\n

            \n1,511<\/p><\/td>

            		\n

            \n-4%<\/i><\/p><\/td><\/tr>\n

            \n5,330<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n5,799<\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n-8%<\/i><\/p><\/td>

            \n\u00a0<\/p><\/td>

            \n5,395<\/p><\/td>

            		\nGas (Mcf\/d)<\/td>\n\n

            \n5,563<\/p><\/td>

            		\n

            \n5,524<\/p><\/td>

            		\n

            \n+1%<\/i><\/p><\/td><\/tr>\n<\/table>

            \nHydrocarbon production was 2,395 thousand barrels of oil equivalent per day in the second quarter of 2026, down 4% year-on-year, due to the following:<\/p>

              \n
            • \n+4% from project start-up and ramp-up of projects, including Mero-3, Mero-4 and Lapa SW in Brazil, Anchor and Ballymore in the United States, Begonia and Clov Phase 3 in Angola and Mabruk in Libya,<\/li>\n
            • \n+3% due to improved plant availability,<\/li>\n
            • \n-1% due to pricing effect,<\/li>\n
            • \n-2% due to the natural decline of fields,<\/li>\n
            • \n-8% due to the impact of the conflict in the Middle East.<\/li>\n<\/ul>

              \nExcluding the impact of the conflict in the Middle East, production was up more than 4% year-on-year, driven by the ramp-up and start-up of new projects and improved facility availability.<\/p>

              \n4. Analysis of business segments<\/b><\/p>

              \n4.1 Exploration & Production<\/b><\/p>

              \n4.1.1 Production<\/p>\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2Q25<\/b><\/p><\/td>

              		\nHydrocarbon production<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n1,845<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1,948<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-5%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1,956<\/p><\/td>

              		\nEP (kboe\/d)<\/td>\n\n

              \n1,896<\/p><\/td>

              		\n

              \n1,966<\/p><\/td>

              		\n

              \n-4%<\/i><\/p><\/td><\/tr>\n

              \n1,342<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1,408<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-5%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1,437<\/p><\/td>

              		\nLiquids (kb\/d)<\/td>\n\n

              \n1,375<\/p><\/td>

              		\n

              \n1,440<\/p><\/td>

              		\n

              \n-4%<\/i><\/p><\/td><\/tr>\n

              \n2,668<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2,863<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-7%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2,767<\/p><\/td>

              		\nGas (Mcf\/d)<\/td>\n\n

              \n2,765<\/p><\/td>

              		\n

              \n2,807<\/p><\/td>

              		\n

              \n-1%<\/i><\/p><\/td><\/tr>\n<\/table>

              \n4.1.2 Results<\/p>\n\n\n\n\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2Q25<\/b><\/p><\/td>

              		\nIn millions of dollars, except effective tax rate<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n3,231<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2,576<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+25%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1,974<\/p><\/td>

              		\nAdjusted net operating income<\/td>\n\n

              \n5,807<\/p><\/td>

              		\n

              \n4,425<\/p><\/td>

              		\n

              \n+31%<\/i><\/p><\/td><\/tr>\n

              \n137<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n139<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-1%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n176<\/p><\/td>

              		\nincluding adjusted income from equity affiliates<\/td>\n\n

              \n276<\/p><\/td>

              		\n

              \n326<\/p><\/td>

              		\n

              \n-15%<\/i><\/p><\/td><\/tr>\n

              \n45.4%<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n49.5%<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n50.1%<\/p><\/td>

              		\nEffective tax rate (15)<\/sup><\/td>\n\n

              \n47.3%<\/p><\/td>

              		\n

              \n49.7%<\/p><\/td>

              		\n

              \n-<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n2,231<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2,724<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-18%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n3,053<\/p><\/td>

              		\nOrganic investments (1)<\/sup><\/td>\n\n

              \n4,955<\/p><\/td>

              		\n

              \n5,737<\/p><\/td>

              		\n

              \n-14%<\/i><\/p><\/td><\/tr>\n

              \n(348)<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n(227)<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \nns<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n162<\/p><\/td>

              		\nAcquisitions net of assets sales (1)<\/sup><\/td>\n\n

              \n(575)<\/p><\/td>

              		\n

              \n278<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td><\/tr>\n

              \n1,883<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2,497<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-25%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n3,215<\/p><\/td>

              		\nNet investments (1)<\/sup><\/td>\n\n

              \n4,380<\/p><\/td>

              		\n

              \n6,015<\/p><\/td>

              		\n

              \n-27%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n5,777<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n4,564<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+27%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n3,760<\/p><\/td>

              		\nCash flow from operations excluding working capital (CFFO) (1)<\/sup><\/td>\n\n

              \n10,341<\/p><\/td>

              		\n

              \n8,051<\/p><\/td>

              		\n

              \n+28%<\/i><\/p><\/td><\/tr>\n

              \n5,546<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2,969<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+87%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n3,675<\/p><\/td>

              		\nCash flow from operating activities<\/td>\n\n

              \n8,515<\/p><\/td>

              		\n

              \n6,941<\/p><\/td>

              		\n

              \n+23%<\/i><\/p><\/td><\/tr>\n<\/table>

              \nAdjusted net operating income was $3,231 million, up 25% in the quarter, reflecting in particular the increase in the average selling price of liquids (+$17.9\/b compared to the first quarter of 2026, vs +$22.7\/b for Brent, reflecting a larger off-take schedule at the end of the quarter, in a bearish oil market,) affected by the effects of accounting for production not lifted.<\/p>

              \nExploration & Production cash flow from operations excluding working capital (CFFO) was $5,777 million, up 27% in the quarter, for the same reasons.<\/p>

              \n4.2 Integrated LNG<\/b><\/p>

              \n4.2.1 Production<\/p>\n\n\n\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nHydrocarbon production for LNG<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n550<\/p><\/td>

              		\n

              \n605<\/p><\/td>

              		\n

              \n-9%<\/i><\/p><\/td>

              		\n

              \n547<\/p><\/td>

              		\nIntegrated LNG (kboe\/d)<\/td>\n\n

              \n578<\/p><\/td>

              		\n

              \n565<\/p><\/td>

              		\n

              \n+2%<\/i><\/p><\/td><\/tr>\n

              \n68<\/p><\/td>

              		\n

              \n73<\/p><\/td>

              		\n

              \n-8%<\/i><\/p><\/td>

              		\n

              \n69<\/p><\/td>

              		\nLiquids (kb\/d)<\/td>\n\n

              \n70<\/p><\/td>

              		\n

              \n71<\/p><\/td>

              		\n

              \n-1%<\/i><\/p><\/td><\/tr>\n

              \n2,662<\/p><\/td>

              		\n

              \n2,936<\/p><\/td>

              		\n

              \n-9%<\/i><\/p><\/td>

              		\n

              \n2,628<\/p><\/td>

              		\nGas (Mcf\/d)<\/td>\n\n

              \n2,798<\/p><\/td>

              		\n

              \n2,717<\/p><\/td>

              		\n

              \n+3%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nLiquefied Natural Gas in Mt<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n10.7<\/p><\/td>

              		\n

              \n12.4<\/p><\/td>

              		\n

              \n-13%<\/i><\/p><\/td>

              		\n

              \n10.6<\/p><\/td>

              		\nOverall LNG sales<\/td>\n\n

              \n23.1<\/p><\/td>

              		\n

              \n21.2<\/p><\/td>

              		\n

              \n+9%<\/i><\/p><\/td><\/tr>\n

              \n3.9<\/p><\/td>

              		\n

              \n4.1<\/p><\/td>

              		\n

              \n-6%<\/i><\/p><\/td>

              		\n

              \n3.9<\/p><\/td>

              		\nincl. Sales from equity production*<\/td>\n\n

              \n8.0<\/p><\/td>

              		\n

              \n7.9<\/p><\/td>

              		\n

              \n+1%<\/i><\/p><\/td><\/tr>\n

              \n9.8<\/p><\/td>

              		\n

              \n10.9<\/p><\/td>

              		\n

              \n-10%<\/i><\/p><\/td>

              		\n

              \n9.4<\/p><\/td>

              		\nincl. Sales by TotalEnergies from equity production and third party purchases<\/td>\n\n

              \n20.7<\/p><\/td>

              		\n

              \n18.8<\/p><\/td>

              		\n

              \n+10%<\/i><\/p><\/td><\/tr>\n

              \n* The Company\u2019s equity production may be sold by TotalEnergies or by the joint ventures.<\/p><\/td><\/tr>\n<\/table>

              \nHydrocarbon production for LNG decreased by 9% quarter-to-quarter, mainly due to shut-in production in Qatar related to the Middle East conflict.<\/p>

              \n4.2.2 Results<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nIn millions of dollars<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n10.20<\/p><\/td>

              		\n

              \n8.48<\/p><\/td>

              		\n

              \n+20%<\/i><\/p><\/td>

              		\n

              \n9.10<\/p><\/td>

              		\nAverage price of LNG (6),(9)<\/sup> ($\/Mbtu)Consolidated subsidiaries and equity affiliates<\/td>\n\n

              \n9.29<\/p><\/td>

              		\n

              \n9.55<\/p><\/td>

              		\n

              \n-3%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n807<\/p><\/td>

              		\n

              \n1,318<\/p><\/td>

              		\n

              \n-39%<\/i><\/p><\/td>

              		\n

              \n1,041<\/p><\/td>

              		\nAdjusted net operating income<\/td>\n\n

              \n2,125<\/p><\/td>

              		\n

              \n2,335<\/p><\/td>

              		\n

              \n-9%<\/i><\/p><\/td><\/tr>\n

              \n705<\/p><\/td>

              		\n

              \n431<\/p><\/td>

              		\n

              \n+64%<\/i><\/p><\/td>

              		\n

              \n513<\/p><\/td>

              		\nincluding adjusted income from equity affiliates<\/td>\n\n

              \n1,136<\/p><\/td>

              		\n

              \n1,048<\/p><\/td>

              		\n

              \n+8%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n908<\/p><\/td>

              		\n

              \n410<\/p><\/td>

              		\n

              \nx2.2<\/i><\/p><\/td>

              		\n

              \n743<\/p><\/td>

              		\nOrganic investments (1)<\/sup><\/td>\n\n

              \n1,318<\/p><\/td>

              		\n

              \n1,495<\/p><\/td>

              		\n

              \n-12%<\/i><\/p><\/td><\/tr>\n

              \n4<\/p><\/td>

              		\n

              \n92<\/p><\/td>

              		\n

              \n-96%<\/i><\/p><\/td>

              		\n

              \n110<\/p><\/td>

              		\nAcquisitions net of assets sales (1)<\/sup><\/td>\n\n

              \n96<\/p><\/td>

              		\n

              \n250<\/p><\/td>

              		\n

              \n-62%<\/i><\/p><\/td><\/tr>\n

              \n912<\/p><\/td>

              		\n

              \n502<\/p><\/td>

              		\n

              \n+82%<\/i><\/p><\/td>

              		\n

              \n853<\/p><\/td>

              		\nNet investments (1)<\/sup><\/td>\n\n

              \n1,414<\/p><\/td>

              		\n

              \n1,745<\/p><\/td>

              		\n

              \n-19%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n833<\/p><\/td>

              		\n

              \n1,785<\/p><\/td>

              		\n

              \n-53%<\/i><\/p><\/td>

              		\n

              \n1,159<\/p><\/td>

              		\nCash flow from operations excluding working capital (CFFO) (1)<\/sup><\/td>\n\n

              \n2,618<\/p><\/td>

              		\n

              \n2,408<\/p><\/td>

              		\n

              \n+9%<\/i><\/p><\/td><\/tr>\n

              \n2,137<\/p><\/td>

              		\n

              \n(1,120)<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td>

              		\n

              \n539<\/p><\/td>

              		\nCash flow from operating activities<\/td>\n\n

              \n1,017<\/p><\/td>

              		\n

              \n2,282<\/p><\/td>

              		\n

              \n-55%<\/i><\/p><\/td><\/tr>\n

              \n* Sales in $ \/ Sales in volume for consolidated and equity affiliates. Does not include LNG trading activities.<\/p><\/td><\/tr>\n<\/table>

              \nAdjusted net operating income and cash flow from operations excluding working capital (CFFO) for the Integrated LNG segment were $807 million and $833 million, respectively, significantly lower quarter-on-quarter, impacted by the underperformance of gas trading activities in an overall flat, and even bearish, European market, whereas the segment outperformed in the first quarter.<\/p>

              \n4.3 Integrated Power<\/b><\/p>

              \n4.3.1 Productions, capacities, clients and sales<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2Q25<\/b><\/p><\/td>

              		\nIntegrated Power<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n14.8<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n11.7<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+26%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n11.6<\/p><\/td>

              		\nNet power production (TWh) *<\/td>\n\n

              \n26.4<\/p><\/td>

              		\n

              \n22.9<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+16%<\/i><\/p><\/td><\/tr>\n

              \n9.6<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n8.2<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+18%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n8.4<\/p><\/td>

              		\no\/w production from renewables<\/td>\n\n

              \n17.8<\/p><\/td>

              		\n

              \n15.2<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+17%<\/i><\/p><\/td><\/tr>\n

              \n5.2<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n3.5<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+47%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n3.2<\/p><\/td>

              		\no\/w production from gas flexible capacities<\/td>\n\n

              \n8.7<\/p><\/td>

              		\n

              \n7.7<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+12%<\/i><\/p><\/td><\/tr>\n

              \n33.4<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n26.8<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+24%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n24.0<\/p><\/td>

              		\nPortfolio of power generation net installed capacity (GW) **<\/td>\n\n

              \n33.4<\/p><\/td>

              		\n

              \n24.0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+39%<\/i><\/p><\/td><\/tr>\n

              \n21.1<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n19.8<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+7%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n17.4<\/p><\/td>

              		\no\/w renewables<\/td>\n\n

              \n21.1<\/p><\/td>

              		\n

              \n17.4<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+21%<\/i><\/p><\/td><\/tr>\n

              \n12.2<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n7.0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+74%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n6.5<\/p><\/td>

              		\no\/w gas flexible capacities<\/td>\n\n

              \n12.2<\/p><\/td>

              		\n

              \n6.5<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+88%<\/i><\/p><\/td><\/tr>\n

              \n105.8<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n109.7<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-4%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n104.1<\/p><\/td>

              		\nPortfolio of renewable power generation gross capacity (GW) **,***<\/td>\n\n

              \n105.8<\/p><\/td>

              		\n

              \n104.1<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+2%<\/i><\/p><\/td><\/tr>\n

              \n37.4<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n35.6<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+5%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n30.2<\/p><\/td>

              		\no\/w installed capacity<\/td>\n\n

              \n37.4<\/p><\/td>

              		\n

              \n30.2<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+24%<\/i><\/p><\/td><\/tr>\n

              \n6.1<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n6.1<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n6.0<\/p><\/td>

              		\nClients power - BtB and BtC (Million) **<\/td>\n\n

              \n6.1<\/p><\/td>

              		\n

              \n6.0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+2%<\/i><\/p><\/td><\/tr>\n

              \n2.7<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2.7<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2.7<\/p><\/td>

              		\nClients gas - BtB and BtC (Million) **<\/td>\n\n

              \n2.7<\/p><\/td>

              		\n

              \n2.7<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-2%<\/i><\/p><\/td><\/tr>\n

              \n11.6<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n15.2<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-23%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n10.5<\/p><\/td>

              		\nSales power - BtB and BtC (TWh)<\/td>\n\n

              \n26.8<\/p><\/td>

              		\n

              \n25.0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+7%<\/i><\/p><\/td><\/tr>\n

              \n14.5<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n31.5<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-54%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n14.9<\/p><\/td>

              		\nSales gas - BtB and BtC (TWh)<\/td>\n\n

              \n46.0<\/p><\/td>

              		\n

              \n50.6<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-9%<\/i><\/p><\/td><\/tr>\n

              \n* Solar, wind, hydroelectric and gas flexible capacities.<\/p><\/td><\/tr>\n

              \n** End of period data.<\/p><\/td><\/tr>\n

              \n*** Includes 17.25% of Adani Green Energy Ltd\u2019s gross capacity, 50% of Clearway Energy Group\u2019s gross capacity and 49% of Casa dos Ventos\u2019 gross capacity.<\/p><\/td><\/tr>\n<\/table>

              \nNet electricity production was 14.8 TWh, up 28% year-on-year, driven by an increase of nearly 15% in generation from renewable sources, reflecting growth in installed capacity, and by a 2 TWh increase in production from flexible gas-fired capacity resulting notably from the completion of the transaction with EPH.<\/p>

              \nGross installed renewable electricity generation capacity reached 37.4 GW at the end of the second quarter of 2026, representing nearly 8 GW of additional capacity year-on-year.<\/p>

              \n4.3.2 Results<\/p>\n\n\n\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nIn millions of dollars<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n533<\/p><\/td>

              		\n

              \n545<\/p><\/td>

              		\n

              \n-2%<\/i><\/p><\/td>

              		\n

              \n574<\/p><\/td>

              		\nAdjusted net operating income<\/td>\n\n

              \n1,078<\/p><\/td>

              		\n

              \n1,080<\/p><\/td>

              		\n

              \n-<\/i><\/p><\/td><\/tr>\n

              \n168<\/p><\/td>

              		\n

              \n52<\/p><\/td>

              		\n

              \nx3.2<\/i><\/p><\/td>

              		\n

              \n22<\/p><\/td>

              		\nincluding adjusted income from equity affiliates<\/td>\n\n

              \n220<\/p><\/td>

              		\n

              \n66<\/p><\/td>

              		\n

              \nx3.3<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n920<\/p><\/td>

              		\n

              \n823<\/p><\/td>

              		\n

              \n+12%<\/i><\/p><\/td>

              		\n

              \n421<\/p><\/td>

              		\nOrganic investments (1)<\/sup><\/td>\n\n

              \n1,743<\/p><\/td>

              		\n

              \n1,066<\/p><\/td>

              		\n

              \n+63%<\/i><\/p><\/td><\/tr>\n

              \n(749)<\/p><\/td>

              		\n

              \n(77)<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td>

              		\n

              \n1,568<\/p><\/td>

              		\nAcquisitions net of assets sales (1)<\/sup><\/td>\n\n

              \n(826)<\/p><\/td>

              		\n

              \n1,806<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td><\/tr>\n

              \n171<\/p><\/td>

              		\n

              \n746<\/p><\/td>

              		\n

              \n-77%<\/i><\/p><\/td>

              		\n

              \n1,989<\/p><\/td>

              		\nNet investments (1)<\/sup><\/td>\n\n

              \n917<\/p><\/td>

              		\n

              \n2,872<\/p><\/td>

              		\n

              \n-68%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n721<\/p><\/td>

              		\n

              \n574<\/p><\/td>

              		\n

              \n+26%<\/i><\/p><\/td>

              		\n

              \n562<\/p><\/td>

              		\nCash flow from operations excluding working capital (CFFO) (1)<\/sup><\/td>\n\n

              \n1,295<\/p><\/td>

              		\n

              \n1,159<\/p><\/td>

              		\n

              \n+12%<\/i><\/p><\/td><\/tr>\n

              \n(239)<\/p><\/td>

              		\n

              \n(145)<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td>

              		\n

              \n799<\/p><\/td>

              		\nCash flow from operating activities<\/td>\n\n

              \n(384)<\/p><\/td>

              		\n

              \n400<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td><\/tr>\n<\/table>

              \nIntegrated Power segment adjusted net operating income was $533 million in the quarter, in line with the first quarter of 2026.<\/p>

              \nIntegrated Power segment cash flow from operations excluding working capital (CFFO) amounted to $721 million, supported by the contribution, in line with expectations, of EPH assets since the closing of the transaction on April 29, 2026. It breaks down between production activities, including renewables and gas-fired power plants, for around 60%, and marketing activities, including B2B, B2C and trading, for around 40%.<\/p>

              \n4.4 Downstream (Refining & Chemicals and Marketing & Services)<\/b><\/p>

              \n4.4.1 Results<\/p>\n\n\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2Q25<\/b><\/p><\/td>

              		\nIn millions of dollars<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n2,300<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1,861<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+24%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n801<\/p><\/td>

              		\nAdjusted net operating income<\/td>\n\n

              \n4,161<\/p><\/td>

              		\n

              \n1,342<\/p><\/td>

              		\n

              \nx3.1<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n540<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n654<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-17%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n532<\/p><\/td>

              		\nOrganic investments (1)<\/sup><\/td>\n\n

              \n1,194<\/p><\/td>

              		\n

              \n918<\/p><\/td>

              		\n

              \n+30%<\/i><\/p><\/td><\/tr>\n

              \n(156)<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n39<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \nns<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n(27)<\/p><\/td>

              		\nAcquisitions net of assets sales (1)<\/sup><\/td>\n\n

              \n(117)<\/p><\/td>

              		\n

              \n(102)<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td><\/tr>\n

              \n384<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n693<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n-45%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n505<\/p><\/td>

              		\nNet investments (1)<\/sup><\/td>\n\n

              \n1,077<\/p><\/td>

              		\n

              \n816<\/p><\/td>

              		\n

              \n+32%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n2,877<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2,136<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+35%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1,483<\/p><\/td>

              		\nCash flow from operations excluding working capital (CFFO) (1)<\/sup><\/td>\n\n

              \n5,013<\/p><\/td>

              		\n

              \n2,600<\/p><\/td>

              		\n

              \n+93%<\/i><\/p><\/td><\/tr>\n

              \n4,114<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n2,632<\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n+56%<\/i><\/p><\/td>

              \n\u00a0<\/p><\/td>

              \n1,515<\/p><\/td>

              		\nCash flow from operating activities<\/td>\n\n

              \n6,746<\/p><\/td>

              		\n

              \n100<\/p><\/td>

              		\n

              \nx67.5<\/i><\/p><\/td><\/tr>\n<\/table>

              \n4.5 Refining & Chemicals<\/b><\/p>

              \n4.5.1 Refinery and petrochemicals throughput and utilization rates<\/p>\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nRefinery throughput and utilization rate*<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n1,426<\/p><\/td>

              		\n

              \n1,624<\/p><\/td>

              		\n

              \n-12%<\/i><\/p><\/td>

              		\n

              \n1,589<\/p><\/td>

              		\nTotal refinery throughput (kb\/d)<\/td>\n\n

              \n1,524<\/p><\/td>

              		\n

              \n1,569<\/p><\/td>

              		\n

              \n-3%<\/i><\/p><\/td><\/tr>\n

              \n354<\/p><\/td>

              		\n

              \n462<\/p><\/td>

              		\n

              \n-23%<\/i><\/p><\/td>

              		\n

              \n463<\/p><\/td>

              		\nFrance<\/td>\n\n

              \n408<\/p><\/td>

              		\n

              \n449<\/p><\/td>

              		\n

              \n-9%<\/i><\/p><\/td><\/tr>\n

              \n684<\/p><\/td>

              		\n

              \n677<\/p><\/td>

              		\n

              \n+1%<\/i><\/p><\/td>

              		\n

              \n632<\/p><\/td>

              		\nRest of Europe<\/td>\n\n

              \n680<\/p><\/td>

              		\n

              \n629<\/p><\/td>

              		\n

              \n+8%<\/i><\/p><\/td><\/tr>\n

              \n389<\/p><\/td>

              		\n

              \n485<\/p><\/td>

              		\n

              \n-20%<\/i><\/p><\/td>

              		\n

              \n494<\/p><\/td>

              		\nRest of world<\/td>\n\n

              \n436<\/p><\/td>

              		\n

              \n491<\/p><\/td>

              		\n

              \n-11%<\/i><\/p><\/td><\/tr>\n

              \n80%<\/p><\/td>

              		\n

              \n92%<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n90%<\/p><\/td>

              		\nUtilization rate based on crude only**<\/td>\n\n

              \n86%<\/p><\/td>

              		\n

              \n89%<\/p><\/td>

              		\n

              \n-<\/i><\/p><\/td><\/tr>\n

              \n* Based on distillation capacity at the beginning of the year<\/p><\/td><\/tr>\n<\/table>\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nPetrochemicals production and utilization rate<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n1,100<\/p><\/td>

              		\n

              \n1,183<\/p><\/td>

              		\n

              \n-7%<\/i><\/p><\/td>

              		\n

              \n1,164<\/p><\/td>

              		\nMonomers* (kt)<\/td>\n\n

              \n2,283<\/p><\/td>

              		\n

              \n2,414<\/p><\/td>

              		\n

              \n-5%<\/i><\/p><\/td><\/tr>\n

              \n1,165<\/p><\/td>

              		\n

              \n1,159<\/p><\/td>

              		\n

              \n-<\/i><\/p><\/td>

              		\n

              \n1,127<\/p><\/td>

              		\nPolymers (kt)<\/td>\n\n

              \n2,324<\/p><\/td>

              		\n

              \n2,300<\/p><\/td>

              		\n

              \n+1%<\/i><\/p><\/td><\/tr>\n

              \n71%<\/p><\/td>

              		\n

              \n74%<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n74%<\/p><\/td>

              		\nSteam cracker utilization rate**<\/td>\n\n

              \n73%<\/p><\/td>

              		\n

              \n76%<\/p><\/td>

              		\n

              \n-<\/i><\/p><\/td><\/tr>\n

              \n* Olefins.<\/p><\/td><\/tr>\n

              \n** Based on olefins production from steam crackers and their treatment capacity at the start of the year.<\/p><\/td><\/tr>\n<\/table>

              \nRefinery throughput was down 12% quarter-on-quarter, notably due to the deliberate decision to maximize distillates production given the higher margins. It was also impacted by the planned shutdown at Donges in France, the events in early April that affected the SATORP refinery in Saudi Arabia which has reached 70% of its nominal capacity since beginning of May and an unplanned shutdown in June of Port Arthur refinery in the United States caused by a tropical storm.<\/p>

              \n4.5.2 Results<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nIn millions of dollars<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n13.5<\/p><\/td>

              		\n

              \n11.4<\/p><\/td>

              		\n

              \n+19%<\/i><\/p><\/td>

              		\n

              \n4.7<\/p><\/td>

              		\nEuropean Refining Margin Marker (ERM) ($\/b) *<\/td>\n\n

              \n12.4<\/p><\/td>

              		\n

              \n4.3<\/p><\/td>

              		\n

              \nx2.9<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n1,800<\/p><\/td>

              		\n

              \n1,599<\/p><\/td>

              		\n

              \n+13%<\/i><\/p><\/td>

              		\n

              \n389<\/p><\/td>

              		\nAdjusted net operating income<\/td>\n\n

              \n3,399<\/p><\/td>

              		\n

              \n690<\/p><\/td>

              		\n

              \nx4.9<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n366<\/p><\/td>

              		\n

              \n518<\/p><\/td>

              		\n

              \n-29%<\/i><\/p><\/td>

              		\n

              \n333<\/p><\/td>

              		\nOrganic investments (1)<\/sup><\/td>\n\n

              \n884<\/p><\/td>

              		\n

              \n569<\/p><\/td>

              		\n

              \n+55%<\/i><\/p><\/td><\/tr>\n

              \n(1)<\/p><\/td>

              		\n

              \n75<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td>

              		\n

              \n(24)<\/p><\/td>

              		\nAcquisitions net of assets sales (1)<\/sup><\/td>\n\n

              \n74<\/p><\/td>

              		\n

              \n(24)<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td><\/tr>\n

              \n365<\/p><\/td>

              		\n

              \n593<\/p><\/td>

              		\n

              \n-38%<\/i><\/p><\/td>

              		\n

              \n309<\/p><\/td>

              		\nNet investments (1)<\/sup><\/td>\n\n

              \n958<\/p><\/td>

              		\n

              \n545<\/p><\/td>

              		\n

              \n+76%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n2,030<\/p><\/td>

              		\n

              \n1,716<\/p><\/td>

              		\n

              \n+18%<\/i><\/p><\/td>

              		\n

              \n772<\/p><\/td>

              		\nCash flow from operations excluding working capital (CFFO) (1)<\/sup><\/td>\n\n

              \n3,746<\/p><\/td>

              		\n

              \n1,405<\/p><\/td>

              		\n

              \nx2.7<\/i><\/p><\/td><\/tr>\n

              \n3,565<\/p><\/td>

              		\n

              \n1,564<\/p><\/td>

              		\n

              \nx2.3<\/i><\/p><\/td>

              		\n

              \n887<\/p><\/td>

              		\nCash flow from operating activities<\/td>\n\n

              \n5,129<\/p><\/td>

              		\n

              \n(1,096)<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td><\/tr>\n

              \n* 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.<\/p><\/td><\/tr>\n<\/table>

              \nRefining and Chemicals adjusted net operating income was $1,800 million for the quarter, demonstrating the segment\u2019s ability to capture higher refining and petrochemical margins, in a context where oil trading results were at the same strong level as the first quarter.<\/p>

              \nCash flow from operations excluding working capital (CFFO) was $2,030 million, for the same reasons.<\/p>

              \n4.6 Marketing & Services<\/b><\/p>

              \n4.6.1 Petroleum product sales<\/p>\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nSales in kb\/d*<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n1,213<\/p><\/td>

              		\n

              \n1,206<\/p><\/td>

              		\n

              \n+1%<\/i><\/p><\/td>

              		\n

              \n1,324<\/p><\/td>

              		\nTotal Marketing & Services sales<\/td>\n\n

              \n1,210<\/p><\/td>

              		\n

              \n1,295<\/p><\/td>

              		\n

              \n-7%<\/i><\/p><\/td><\/tr>\n

              \n732<\/p><\/td>

              		\n

              \n686<\/p><\/td>

              		\n

              \n+7%<\/i><\/p><\/td>

              		\n

              \n790<\/p><\/td>

              		\nEurope<\/td>\n\n

              \n709<\/p><\/td>

              		\n

              \n753<\/p><\/td>

              		\n

              \n-6%<\/i><\/p><\/td><\/tr>\n

              \n481<\/p><\/td>

              		\n

              \n520<\/p><\/td>

              		\n

              \n-8%<\/i><\/p><\/td>

              		\n

              \n534<\/p><\/td>

              		\nRest of world<\/td>\n\n

              \n501<\/p><\/td>

              		\n

              \n543<\/p><\/td>

              		\n

              \n-8%<\/i><\/p><\/td><\/tr>\n

              \n* Excludes trading and bulk refining sales.<\/p><\/td><\/tr>\n<\/table>

              \nSales of petroleum products were down 8% compared to the second quarter of 2025, reflecting in particular the sale of the retail network in Burkina Faso in West Africa, and a drop in demand related to higher prices.<\/p>

              \n4.6.2 Results<\/p>\n\n\n\n\n\n\n\n\n\n

              \n2Q26<\/b><\/p><\/td>

              		\n

              \n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q26\nvs\n1Q26<\/b><\/p><\/td>

              		\n

              \n2Q25<\/b><\/p><\/td>

              		\nIn millions of dollars<\/b><\/td>\n\n

              \n1H26<\/b><\/p><\/td>

              		\n

              \n1H25<\/b><\/p><\/td>

              		\n

              \n1H26\nvs\n1H25<\/b><\/p><\/td><\/tr>\n

              \n500<\/p><\/td>

              		\n

              \n262<\/p><\/td>

              		\n

              \n+91%<\/i><\/p><\/td>

              		\n

              \n412<\/p><\/td>

              		\nAdjusted net operating income<\/td>\n\n

              \n762<\/p><\/td>

              		\n

              \n652<\/p><\/td>

              		\n

              \n+17%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n174<\/p><\/td>

              		\n

              \n136<\/p><\/td>

              		\n

              \n+28%<\/i><\/p><\/td>

              		\n

              \n199<\/p><\/td>

              		\nOrganic investments (1)<\/sup><\/td>\n\n

              \n310<\/p><\/td>

              		\n

              \n349<\/p><\/td>

              		\n

              \n-11%<\/i><\/p><\/td><\/tr>\n

              \n(155)<\/p><\/td>

              		\n

              \n(36)<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td>

              		\n

              \n(3)<\/p><\/td>

              		\nAcquisitions net of assets sales (1)<\/sup><\/td>\n\n

              \n(191)<\/p><\/td>

              		\n

              \n(78)<\/p><\/td>

              		\n

              \nns<\/i><\/p><\/td><\/tr>\n

              \n19<\/p><\/td>

              		\n

              \n100<\/p><\/td>

              		\n

              \n-81%<\/i><\/p><\/td>

              		\n

              \n196<\/p><\/td>

              		\nNet investments (1)<\/sup><\/td>\n\n

              \n119<\/p><\/td>

              		\n

              \n271<\/p><\/td>

              		\n

              \n-56%<\/i><\/p><\/td><\/tr>\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n\n\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td>

              		\n

              \n\u00a0<\/p><\/td><\/tr>\n

              \n847<\/p><\/td>

              		\n

              \n420<\/p><\/td>

              		\n

              \nx2<\/i><\/p><\/td>

              		\n

              \n711<\/p><\/td>

              		\nCash flow from operations excluding working capital (CFFO) (1)<\/sup><\/td>\n\n

              \n1,267<\/p><\/td>

              		\n

              \n1,195<\/p><\/td>

              		\n

              \n+6%<\/i><\/p><\/td><\/tr>\n

              \n549<\/p><\/td>

              		\n

              \n1,068<\/p><\/td>

              		\n

              \n-49%<\/i><\/p><\/td>

              		\n

              \n628<\/p><\/td>

              		\nCash flow from operating activities<\/td>\n\n

              \n1,617<\/p><\/td>

              		\n

              \n1,196<\/p><\/td>

              		\n

              \n+35%<\/i><\/p><\/td><\/tr>\n<\/table>

              \nMarketing & Services segment adjusted net operating income was $500 million in the quarter, driven by the positive impact of the seasonality in Europe, and up 21% year-on-year reflecting higher unit margins.<\/p>

              \nCash flow from operations excluding working capital (CFFO) amounted to $847 million in the second quarter of 2026, up 19% year-on-year for the same reasons.<\/p>

              \n5. TotalEnergies results<\/b><\/p>

              \n5.1 Adjusted net operating income from business segments<\/b><\/p>

              \nSegment adjusted net operating income was $6,871 million in the second quarter of 2026, compared to $6,300 million in the first quarter of 2026, mainly due to higher oil prices and refining and petrochemical margins as well as significant performance of crude oil and petroleum products trading activities.<\/p>

              \n5.2 Adjusted net income (1)<\/sup> (TotalEnergies share)<\/b><\/p>

              \nAdjusted net income (TotalEnergies share) was $6,027 million in the second quarter of 2026, compared with $5,394 million in the first quarter.<\/p>

              \nAdjusted net income excludes the after-tax inventory effect, non-recurring items, and effects of changes in fair-value.<\/p>

              \nAdjusting items to net income totaled -$0.6 billion in the second quarter, consisting mainly of -$0.4 billion in changes in inventories and fair value effects and restructuring charges.<\/p>

              \nTotalEnergies\u2019 average tax rate was 39.3% in the second quarter versus 39.1% in the first quarter of 2026.<\/p>

              \n5.3 Adjusted earnings per share<\/b><\/p>

              \nAdjusted diluted net earnings per share were as follows:<\/p>