TotalEnergies: Fourth Quarter and Full-year 202...

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TotalEnergies SE (TTE)

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	4Q22	Change vs 4Q21	2022	Change vs 2021
Net income (TotalEnergies share) (B$)	3.3	*-44%*	20.5	*+28%*
Adjusted net income (TotalEnergies share)⁽¹⁾
- in billions of dollars (B$)	7.6	+11%	36.2	x2
- in dollars per share	2.97	+17%	13.94	x2.1
Adjusted EBITDA⁽¹⁾ (B$)	16.0	+12%	71.6	+69%
DACF⁽¹⁾ (B$)	9.4	-4%	47.0	+53%
Cash Flow from operations (B$)	5.6	-52%	47.4	+56%
Net-debt-to-capital ratio⁽²⁾ of 7.0% at December 31, 2022 vs. 4.0% at September 30, 2022
Final 2022 dividend set at 0.74 €/share

4Q22	3Q22	4Q21	4Q22 vs 4Q21	In millions of dollars, except effective tax rate, earnings per share and number of shares	2022	2021	2022 vs 2021
15,997	19,420	14,285	+12%	Adjusted EBITDA ⁽⁵⁾	71,578	42,302	+69%
8,238	10,279	7,316	+13%	Adjusted net operating income from business segments	38,475	20,209	+90%
3,528	4,217	3,525	-	Exploration & Production	17,479	10,439	+67%
2,889	3,649	2,759	+5%	Integrated Gas, Renewables & Power	12,144	6,243	+95%
1,487	1,935	553	x2.7	Refining & Chemicals	7,302	1,909	x3.8
334	478	479	-30%	Marketing & Services	1,550	1,618	-4%
1,873	2,576	1,787	+5%	Contribution of equity affiliates to adjusted net income	8,254	4,190	+97%
41.4%	44.1%	40.2%		Effective tax rate ⁽⁶⁾	40.9%	37.9%
7,561	9,863	6,825	+11%	Adjusted net income (TotalEnergies share)	36,197	18,060	x2
2.97	3.83	2.55	+17%	Adjusted fully-diluted earnings per share (dollars) ⁽⁷⁾	13.94	6.68	x2.1
2.93	3.78	2.19	+34%	Adjusted fully-diluted earnings per share (euros)*	13.24	5.65	x2.3
2,522	2,560	2,644	-5%	Fully-diluted weighted-average shares (millions)	2,572	2,647	-3%

3,264	6,626	5,837	-44%	Net income (TotalEnergies share)	20,526	16,032	+28%

3,935	3,116	4,681	-16%	Organic investments ⁽⁸⁾	11,852	12,675	-6%
(133)	1,587	(396)	ns	Net acquisitions ⁽⁹⁾	4,451	632	x7
3,802	4,703	4,285	-11%	Net investments ⁽¹⁰⁾	16,303	13,307	+23%

9,135	11,736	9,361	-2%	Operating cash flow before working capital changes ⁽¹¹⁾	45,729	29,140	+57%
9,361	12,040	9,759	-4%	Operating cash flow before working capital changes w/o financial charges (DACF) ⁽¹²⁾	47,025	30,660	+53%
5,618	17,848	11,621	-52%	Cash flow from operations	47,367	30,410	+56%

4Q22	3Q22	4Q21	4Q22 vs 4Q21		2022	2021	2022 vs 2021
88.8	100.8	79.8	+11%	Brent ($/b)	101.3	70.9	+43%
6.1	7.9	4.8	+26%	Henry Hub ($/Mbtu)	6.5	3.7	+76%
32.3	42.5	32.8	-2%	NBP ($/Mbtu)	32.4	16.4	+97%
30.5	46.5	35.0	-13%	JKM ($/Mbtu)	33.8	18.5	+83%
80.6	93.6	72.6	+11%	Average price of liquids ($/b) Consolidated subsidiaries	91.3	65.0	+41%
12.74	16.83	11.38	+12%	Average price of gas ($/Mbtu) Consolidated subsidiaries	13.15	6.60	+99%
14.83	21.51	13.12	+13%	Average price of LNG ($/Mbtu) Consolidated subsidiaries and equity affiliates	15.90	8.80	+81%
73.6	99.2	16.7	x4.4	Variable cost margin - Refining Europe, VCM ($/t)**	94.1	10.5	x9

4Q22	3Q22	4Q21	4Q22 vs 4Q21	GHG emissions (MtCO₂e)	2022	2021	2022 vs 2021
10.1	10.3	9.9	+2%	Scope 1+2 from operated facilities ⁽¹⁴⁾	39.7	37.0	+7%
8.3	8.2	8.5	-2%	of which Oil & Gas	32.5	33.1	-2%
1.8	2.1	1.4	+24%	of which CCGT	7.2	3.8	+86%
14.7	14.0	-	-	Scope 1+2 - equity share	56.1	53.7	+4%

107	90	108	-1%	Scope 3 from Oil, Biofuels & Gas Worldwide ⁽¹⁵⁾	389	400	-3%
58	65	75	-22%	of which Scope 3 Oil Worldwide ⁽¹⁶⁾	254	285	-11%

4Q22	3Q22	4Q21	4Q22 vs 4Q21	Methane emissions (ktCH₄)	2022	2021	2022 vs 2021
11	10	12	-8%	Methane emissions from operated facilities	42	49	-14%
10	14	-	-	Methane emissions - equity share	47	51	-8%

In millions of dollars	January 1, 2022	October 1, 2021	January 1, 2021
	December 31, 2022	September 30, 2022	December 31, 2021
Adjusted net income	36,657	35,790	18,391
Average adjusted shareholders' equity	112,831	113,861	108,504
Return on equity (ROE)	32.5%	31.4%	16.9%

	Change	Estimated impact on adjusted net operating income	Estimated impact on cash flow from operations
Dollar	+/- 0.1 $ per €	-/+ 0.1 B$	~0 B$
Average liquids price**	+/- 10 $/b	+/- 2.5 B$	+/- 3.0 B$
European gas price - NBP / TTF	+/- 2 $/Mbtu	+/- 0.4 B$	+/- 0.4 B$
Variable cost margin, European refining (VCM)	+/- 10 $/t	+/- 0.4 B$	+/- 0.5 B$

Russian Upstream Assets (M$)	4Q22	3Q22	2022
Net income (TotalEnergies share)	(3,466)	(1,907)	(11,578)
Cash flow from operations	732	349	1,480

	4Q22					3Q22
Installed power generation gross capacity (GW) ^(1),(2)	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	0.8	0.6	0.0	0.1	1.5	0.7	0.6	0.0	0.1	1.4
Reste de l'Europe	0.2	1.1	0.3	0.0	1.6	0.2	1.1	0.2	0.0	1.4
Afrique	0.1	0.0	0.0	0.0	0.1	0.1	0.0	0.0	0.0	0.1
Moyen Orient	1.2	0.0	0.0	0.0	1.2	0.7	0.0	0.0	0.0	0.7
Amérique du Nord	2.9	2.1	0.0	0.1	5.1	2.9	2.1	0.0	0.0	5.0
Amérique du Sud	0.4	0.3	0.0	0.0	0.7	0.4	0.3	0.0	0.0	0.7
Inde	4.9	0.4	0.0	0.0	5.3	4.9	0.3	0.0	0.0	5.3
Asie Pacifique	1.2	0.0	0.1	0.0	1.4	1.2	0.0	0.1	0.0	1.3
Total	11.7	4.5	0.4	0.2	16.8	11.1	4.4	0.3	0.2	16.0

	4Q22					3Q22
Power generation gross capacity from renewables in construction (GW) ^(1),(2)	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	0.2	0.1	0.0	0.1	0.4	0.2	0.1	0.0	0.1	0.5
Reste de l'Europe	0.1	0.0	0.9	0.0	1.0	0.1	0.0	1.0	0.0	1.1
Afrique	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Moyen Orient	0.0	0.0	0.0	0.0	0.0	0.4	0.0	0.0	0.0	0.4
Amérique du Nord	2.6	0.0	0.0	0.5	3.1	1.6	0.0	0.0	0.2	1.7
Amérique du Sud	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Inde	0.8	0.2	0.0	0.0	1.0	0.8	0.2	0.0	0.0	1.0
Asie Pacifique	0.1	0.0	0.5	0.0	0.6	0.1	0.0	0.5	0.0	0.7
Total	3.8	0.3	1.4	0.6	6.1	3.3	0.3	1.5	0.2	5.4

	4Q22					3Q22
Power generation gross capacity from renewables in development (GW) ^(1),(2)	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	1.6	0.4	0.0	0.0	2.0	2.1	0.4	0.0	0.0	2.5
Reste de l'Europe	3.8	0.4	4.4	0.1	8.6	4.8	0.3	4.4	0.1	9.6
Afrique	0.6	0.1	0.0	0.1	0.9	0.6	0.1	0.0	0.1	0.9
Moyen Orient	0.6	0.0	0.0	0.0	0.6	0.5	0.0	0.0	0.0	0.5
Amérique du Nord	10.8	3.4	4.1	4.1	22.4	11.8	3.4	4.0	4.5	23.7
Amérique du Sud	0.8	1.1	0.0	0.2	2.0	0.7	0.5	0.0	0.2	1.4
Inde	4.4	0.1	0.0	0.0	4.5	3.9	0.1	0.0	0.0	4.0
Asie Pacifique	2.2	0.1	2.3	0.4	5.0	2.0	0.3	1.2	0.3	3.7
Total	24.8	5.5	10.8	4.9	46.0	26.5	5.1	9.6	5.3	46.4

In millions of dollars	12/31/2022	09/30/2022	12/31/2021
Current borrowings ⁽¹⁾	14 065	15 556	13 645
Other current financial liabilities	488	861	372
Current financial assets ^(1),(2)	(8 556)	(11 532)	(12 183)
Net financial assets classified as held for sale	(38)	(36)	(4)
Non-current financial debt ⁽¹⁾	36 987	37 506	41 868
Non-current financial assets ⁽¹⁾	(1 303)	(1 406)	(1 557)
Cash and cash equivalents	(33 026)	(35 941)	(21 342)
Net debt (a)	8 617	5 008	20 799

Shareholders’ equity - TotalEnergies share	111 724	117 821	111 736
Non-controlling interests	2 846	2 851	3 263
Shareholders' equity (b)	114 570	120 672	114 999

Net-debt-to-capital ratio = a / (a+b)	7,0%	4,0%	15,3%

Leases (c)	8 096	7 669	8 055
Net-debt-to-capital ratio including leases (a+c) / (a+b+c)	12,7%	9,5%	20,1%

Full-year 2022
In millions of dollars	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Company
Adjusted net operating income	12 144	17 479	7 302	1 550	38 212
Capital employed at 12/31/2021*	55 978	71 675	8 069	8 783	141 813
Capital employed at 12/31/2022*	49 896	65 784	7 438	7 593	128 811
ROACE	22,9%	25,4%	94,2%	18,9%	28,2%



Twelve months ended September 30, 2022
In millions of dollars	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Company
Adjusted net operating income	12 014	17 476	6 368	1 695	37 239
Capital employed at 09/30/2021*	52 401	75 499	9 156	8 281	143 383
Capital employed at 09/30/2022*	54 923	65 041	5 801	7 141	130 420
ROACE	22,4%	24,9%	85,2%	22,2%	27,2%



Full-year 2021
In millions of dollars	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Company
Adjusted net operating income	6 243	10 439	1 909	1 618	19 766
Capital employed at 12/31/2020*	45 611	78 928	11 375	8 793	142 617
Capital employed at 12/31/2021*	55 978	71 675	8 069	8 783	141 813
ROACE	12,3%	13,9%	19,6%	18,4%	13,9%

* At replacement cost (excluding after-tax inventory effect).

CONSOLIDATED STATEMENT OF INCOME
TotalEnergies
(unaudited)

(M$) ^(a)	4th quarter 2022	3rd quarter 2022	4th quarter 2021
Sales	68,582	69,037	60,348
Excise taxes	(4,629)	(4,075)	(5,050)
Revenues from sales	63,953	64,962	55,298
Purchases, net of inventory variation	(41,555)	(42,802)	(36,161)
Other operating expenses	(7,354)	(6,771)	(6,680)
Exploration costs	(250)	(71)	(323)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,505)	(2,935)	(3,919)
Other income	584	1,693	536
Other expense	(2,828)	(921)	(755)
Financial interest on debt	(719)	(633)	(483)
Financial income and expense from cash & cash equivalents	357	327	120
Cost of net debt	(362)	(306)	(363)
Other financial income	266	196	195
Other financial expense	(150)	(112)	(138)
Net income (loss) from equity affiliates	(281)	(108)	1,860
Income taxes	(6,077)	(6,077)	(3,647)
Consolidated net income	3,441	6,748	5,903
TotalEnergies share	3,264	6,626	5,837
Non-controlling interests	177	122	66
Earnings per share ($)	1.27	2.58	2.19
Fully-diluted earnings per share ($)	1.26	2.56	2.17
^(a) Except for per share amounts.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
TotalEnergies
(unaudited)

(M$)	4th quarter 2022	3rd quarter 2022	4th quarter 2021
Consolidated net income	3,441	6,748	5,903
Other comprehensive income

Actuarial gains and losses	387	(17)	589
Change in fair value of investments in equity instruments	(2)	131	93
Tax effect	(56)	2	(262)
Currency translation adjustment generated by the parent company	6,800	(4,639)	(1,900)
Items not potentially reclassifiable to profit and loss	7,129	(4,523)	(1,480)
Currency translation adjustment	(3,672)	1,871	1,179
Cash flow hedge	(9,669)	1,258	(226)
Variation of foreign currency basis spread	(14)	9	4
Share of other comprehensive income of equity affiliates, net amount	842	191	71
Other	3	(18)	(2)
Tax effect	2,932	(424)	22
Items potentially reclassifiable to profit and loss	(9,578)	2,887	1,048
Total other comprehensive income (net amount)	(2,449)	(1,636)	(432)

Comprehensive income	992	5,112	5,471
TotalEnergies share	792	4,969	5,390
Non-controlling interests	200	143	81

CONSOLIDATED BALANCE SHEET
TotalEnergies
(unaudited)

(M$)	December 31, 2022 (unaudited)	September 30, 2022 (unaudited)	December 31, 2021
ASSETS
Non-current assets
Intangible assets, net	31,931	36,376	32,484
Property, plant and equipment, net	107,101	99,700	106,559
Equity affiliates : investments and loans	27,889	28,743	31,053
Other investments	1,051	1,149	1,625
Non-current financial assets	2,731	2,341	2,404
Deferred income taxes	5,049	4,434	5,400
Other non-current assets	2,388	2,930	2,797
Total non-current assets	178,140	175,673	182,322
Current assets
Inventories, net	22,936	24,420	19,952
Accounts receivable, net	24,378	28,191	21,983
Other current assets	36,070	73,453	35,144
Current financial assets	8,746	11,688	12,315
Cash and cash equivalents	33,026	35,941	21,342
Assets classified as held for sale	568	349	400
Total current assets	125,724	174,042	111,136
Total assets	303,864	349,715	293,458
LIABILITIES & SHAREHOLDERS' EQUITY
Shareholders' equity
Common shares	8,163	8,163	8,224
Paid-in surplus and retained earnings	123,951	131,382	117,849
Currency translation adjustment	(12,836)	(16,720)	(12,671)
Treasury shares	(7,554)	(5,004)	(1,666)
Total shareholders' equity - TotalEnergies share	111,724	117,821	111,736
Non-controlling interests	2,846	2,851	3,263
Total shareholders' equity	114,570	120,672	114,999
Non-current liabilities
Deferred income taxes	11,021	12,576	10,904
Employee benefits	1,829	2,207	2,672
Provisions and other non-current liabilities	21,402	22,133	20,269
Non-current financial debt	45,264	44,899	49,512
Total non-current liabilities	79,516	81,815	83,357
Current liabilities
Accounts payable	41,346	48,942	36,837
Other creditors and accrued liabilities	52,275	80,468	42,800
Current borrowings	15,502	16,923	15,035
Other current financial liabilities	488	861	372
Liabilities directly associated with the assets classified as held for sale	167	34	58
Total current liabilities	109,778	147,228	95,102
Total liabilities & shareholders' equity	303,864	349,715	293,458

CONSOLIDATED STATEMENT OF CASH FLOW
TotalEnergies
(unaudited)

(M$)	4th quarter 2022	3rd quarter 2022	4th quarter 2021
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income	3,441	6,748	5,903
Depreciation, depletion, amortization and impairment	2,749	3,032	4,222
Non-current liabilities, valuation allowances and deferred taxes	(75)	704	152
(Gains) losses on disposals of assets	2,192	(1,645)	(184)
Undistributed affiliates' equity earnings	1,506	1,290	(843)
(Increase) decrease in working capital	(3,791)	7,407	2,232
Other changes, net	(404)	312	139
Cash flow from operating activities	5,618	17,848	11,621
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions	(4,097)	(2,986)	(4,540)
Acquisitions of subsidiaries, net of cash acquired	(4)	(8)	(128)
Investments in equity affiliates and other securities	(260)	(2,557)	(178)
Increase in non-current loans	(211)	(246)	(348)
Total expenditures	(4,572)	(5,797)	(5,194)
Proceeds from disposals of intangible assets and property, plant and equipment	113	97	349
Proceeds from disposals of subsidiaries, net of cash sold	160	524	36
Proceeds from disposals of non-current investments	23	304	266
Repayment of non-current loans	595	797	631
Total divestments	891	1,722	1,282
Cash flow used in investing activities	(3,681)	(4,075)	(3,912)
CASH FLOW USED IN FINANCING ACTIVITIES
Issuance (repayment) of shares:
- Parent company shareholders	-	(1)	-
- Treasury shares	(2,551)	(1,996)	(1,658)
Dividends paid:
- Parent company shareholders	(4,356)	(1,877)	(1,991)
- Non-controlling interests	(12)	(405)	(20)
Net issuance (repayment) of perpetual subordinated notes	-	-	-
Payments on perpetual subordinated notes	(51)	(14)	(57)
Other transactions with non-controlling interests	(82)	38	(14)
Net issuance (repayment) of non-current debt	425	141	347
Increase (decrease) in current borrowings	(3,500)	(527)	(3,368)
Increase (decrease) in current financial assets and liabilities	3,554	(4,473)	(8,373)
Cash flow from (used in) financing activities	(6,573)	(9,114)	(15,134)
Net increase (decrease) in cash and cash equivalents	(4,636)	4,659	(7,425)
Effect of exchange rates	1,721	(1,566)	(204)
Cash and cash equivalents at the beginning of the period	35,941	32,848	28,971
Cash and cash equivalents at the end of the period	33,026	35,941	21,342

4Q22	3Q22	4Q21	4Q22 vs 4Q21	Hydrocarbon production	2022	2021	2022 vs 2021
2,812	2,669	2,852	-1%	Hydrocarbon production (kboe/d)	2,765	2,819	-2%
1,357	1,298	1,278	+6%	Oil (including bitumen) (kb/d)	1,307	1,274	+3%
1,455	1,371	1,574	-8%	Gas (including condensates and associated NGL) (kboe/d)	1,458	1,545	-6%

2,812	2,669	2,852	-1%	Hydrocarbon production (kboe/d)	2,765	2,819	-2%
1,570	1,494	1,509	+4%	Liquids (kb/d)	1,519	1,500	+1%
6,681	6,367	7,328	-9%	Gas (Mcf/d)	6,759	7,203	-6%

4Q22	3Q22	4Q21	4Q22 vs 4Q21	Hydrocarbon production for LNG	2022	2021	2022 vs 2021
503	418	562	-11%	iGRP (kboe/d)	469	529	-11%
58	40	68	-14%	Liquids (kb/d)	53	63	-16%
2,420	2,067	2,697	-10%	Gas (Mcf/d)	2,267	2,541	-11%

4Q22	3Q22	4Q21	4Q22 vs 4Q21	Liquefied Natural Gas in Mt	2022	2021	2022 vs 2021
12.7	10.4	11.6	+10%	Overall LNG sales	48.1	42.0	+15%
4.4	4.0	4.6	-4%	incl. Sales from equity production*	17.0	17.4	-2%
11.4	9.2	10.1	+13%	incl. Sales by TotalEnergies from equity production and third party purchases	42.8	35.1	+22%

4Q22	3Q22	4Q21	4Q22 vs 4Q21	Integrated Power	2022	2021	2022 vs 2021
69.0	67.8	43.0	+61%	Portfolio of renewable power generation gross capacity (GW) ^(1),(2),(3)	69.0	43.0	+61%
16.8	16.0	10.3	+64%	o/w installed capacity	16.8	10.3	+64%
6.1	5.4	6.5	-6%	o/w capacity in construction	6.1	6.5	-6%
46.0	46.4	26.2	+76%	o/w capacity in development	46.0	26.2	+76%
33.4	33.9	28.0	+19%	Gross renewables capacity with PPA (GW) ^(1),(2),(3)	33.4	28.0	+19%
45.5	45.2	31.7	+43%	Portfolio of renewable power generation net capacity (GW) ⁽³⁾	45.5	31.7	+43%
7.7	7.4	5.1	+50%	o/w installed capacity	7.7	5.1	+50%
4.1	3.5	4.6	-10%	o/w capacity in construction	4.1	4.6	-10%
33.6	34.2	22.0	+53%	o/w capacity in development	33.6	22.0	+53%
9.4	8.5	6.7	+42%	Net power production (TWh) ⁽⁴⁾	33.2	21.2	+57%
3.3	2.4	1.9	+74%	incl. power production from renewables	10.4	6.8	+53%
6.1	6.3	6.1	+1%	Clients power - BtB and BtC (Million) ⁽³⁾	6.1	6.1	+1%
2.7	2.8	2.7	+1%	Clients gas - BtB and BtC (Million) ⁽³⁾	2.7	2.7	+1%
14.6	12.1	16.1	-10%	Sales power - BtB and BtC (TWh)	55.3	56.6	-2%
28.1	14.2	31.2	-10%	Sales gas - BtB and BtC (TWh)	96.3	101.2	-5%

767	460	447	+72%	Proportional adjusted EBITDA Integrated Power (M$) ⁽⁵⁾	1,864	1,393	+34%
223	120	84	x2.7	incl. from renewables business	565	418	+35%

4Q22	3Q22	4Q21	4Q22 vs 4Q21	Hydrocarbon production	2022	2021	2022 vs 2021
2,309	2,251	2,290	+1%	EP (kboe/d)	2,296	2,290	-
1,512	1,454	1,441	+5%	Liquids (kb/d)	1,466	1,437	+2%
4,261	4,300	4,631	-8%	Gas (Mcf/d)	4,492	4,662	-4%

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
TotalEnergies
(Unaudited: Year 2022 )
	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	Paid-in surplus and retained earnings	Currency translation adjustment	Number	Amount	Shareholders' equity - TotalEnergies share	Non-controlling interests	Total shareholders' equity
As of January 1, 2021	2,653,124,025	8,267	107,078	(10,256)	(24,392,703)	(1,387)	103,702	2,383	106,085
Net income 2021	-	-	16,032	-	-	-	16,032	334	16,366
Other comprehensive Income	-	-	991	(2,407)	-	-	(1,416)	(30)	(1,446)
Comprehensive Income	-	-	17,023	(2,407)	-	-	14,616	304	14,920
Dividend	-	-	(8,200)	-	-	-	(8,200)	(124)	(8,324)
Issuance of common shares	10,589,713	31	350	-	-	-	381	-	381
Purchase of treasury shares	-	-	-	-	(37,306,005)	(1,823)	(1,823)	-	(1,823)
Sale of treasury shares ⁽¹⁾	-	-	(216)	-	4,573,195	216	-	-	-
Share-based payments	-	-	143	-	-	-	143	-	143
Share cancellation	(23,284,409)	(74)	(1,254)	-	23,284,409	1,328	-	-	-
Net issuance (repayment) of perpetual subordinated notes	-	-	3,254	-	-	-	3,254	-	3,254
Payments on perpetual subordinated notes	-	-	(368)	-	-	-	(368)	-	(368)
Other operations with non-controlling interests	-	-	30	(6)	-	-	24	689	713
Other items	-	-	9	(2)	-	-	7	11	18
As of December 31, 2021	2,640,429,329	8,224	117,849	(12,671)	(33,841,104)	(1,666)	111,736	3,263	114,999
Net income 2022	-	-	20,526	-	-	-	20,526	518	21,044
Other comprehensive Income	-	-	(2,933)	(174)	-	-	(3,107)	(2)	(3,109)
Comprehensive Income	-	-	17,593	(174)	-	-	17,419	516	17,935
Dividend	-	-	(9,989)	-	-	-	(9,989)	(536)	(10,525)
Issuance of common shares	9,367,482	26	344	-	-	-	370	-	370
Purchase of treasury shares	-	-	-	-	(140,207,743)	(7,711)	(7,711)	-	(7,711)
Sale of treasury shares ⁽¹⁾	-	-	(318)	-	6,195,654	318	-	-	-
Share-based payments	-	-	229	-	-	-	229	-	229
Share cancellation	(30,665,526)	(87)	(1,418)	-	30,665,526	1,505	-	-	-
Net issuance (repayment) of perpetual subordinated notes	-	-	(44)	-	-	-	(44)	-	(44)
Payments on perpetual subordinated notes	-	-	(331)	-	-	-	(331)	-	(331)
Other operations with non-controlling interests	-	-	45	9	-	-	54	37	91
Other items	-	-	(9)	-	-	-	(9)	(434)	(443)
As of December 31, 2022	2,619,131,285	8,163	123,951	(12,836)	(137,187,667)	(7,554)	111,724	2,846	114,570

⁽¹⁾ Treasury shares related to the performance share grants.

INFORMATION BY BUSINESS SEGMENT
TotalEnergies
(unaudited)

4th quarter 2022 (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	14,683	2,600	26,650	24,637	12	-	68,582
Intersegment sales	1,887	12,866	11,730	274	63	(26,820)	-
Excise taxes	-	-	(199)	(4,430)	-	-	(4,629)
Revenues from sales	16,570	15,466	38,181	20,481	75	(26,820)	63,953
Operating expenses	(12,494)	(6,173)	(37,107)	(19,939)	(266)	26,820	(49,159)
Depreciation, depletion and impairment of tangible assets and mineral interests	(459)	(1,343)	(393)	(276)	(34)	-	(2,505)
Operating income	3,617	7,950	681	266	(225)	-	12,289
Net income (loss) from equity affiliates and other items	1,253	(3,874)	161	(62)	113	-	(2,409)
Tax on net operating income	(381)	(4,635)	(898)	(113)	22	-	(6,005)
Net operating income	4,489	(559)	(56)	91	(90)	-	3,875
Net cost of net debt							(434)
Non-controlling interests							(177)
Net income - TotalEnergies share							3,264

4th quarter 2022 (adjustments) ^(a) (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	69	-	-	-	-	-	69
Intersegment sales	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-
Revenues from sales	69	-	-	-	-	-	69
Operating expenses	2,101	(108)	(821)	(211)	(88)	-	873
Depreciation, depletion and impairment of tangible assets and mineral interests	(108)	844	-	(37)	-	-	699
Operating income^(b)	2,062	736	(821)	(248)	(88)	-	1,641
Net income (loss) from equity affiliates and other items	(308)	(4,025)	(101)	(9)	-	-	(4,443)
Tax on net operating income	(154)	(798)	(621)	14	23	-	(1,536)
Net operating income^(b)	1,600	(4,087)	(1,543)	(243)	(65)	-	(4,338)
Net cost of net debt							8
Non-controlling interests							33
Net income - TotalEnergies share							(4,297)
^(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. ^(b)Of which inventory valuation effect
On operating income	-	-	(712)	(184)	-
On net operating income	-	-	(586)	(137)	-

4th quarter 2022 (adjusted) (M$)	Integrated Gas, Renewable & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	14,614	2,600	26,650	24,637	12	-	68,513
Intersegment sales	1,887	12,866	11,730	274	63	(26,820)	-
Excise taxes	-	-	(199)	(4,430)	-	-	(4,629)
Revenues from sales	16,501	15,466	38,181	20,481	75	(26,820)	63,884
Operating expenses	(14,595)	(6,065)	(36,286)	(19,728)	(178)	26,820	(50,032)
Depreciation, depletion and impairment of tangible assets and mineral interests	(351)	(2,187)	(393)	(239)	(34)	-	(3,204)
Adjusted operating income	1,555	7,214	1,502	514	(137)	-	10,648
Net income (loss) from equity affiliates and other items	1,561	151	262	(53)	113	-	2,034
Tax on net operating income	(227)	(3,837)	(277)	(127)	(1)	-	(4,469)
Adjusted net operating income	2,889	3,528	1,487	334	(25)	-	8,213
Net cost of net debt							(442)
Non-controlling interests							(210)
Adjusted net income - TotalEnergies share							7,561



4th quarter 2022 (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
Total expenditures	950	2,478	588	507	49	-	4,572
Total divestments	505	215	125	42	4	-	891
Cash flow from operating activities	995	4,035	232	707	(351)	-	5,618

INFORMATION BY BUSINESS SEGMENT
TotalEnergies


Year 2021 (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	30,704	7,246	87,600	80,288	25	-	205,863
Intersegment sales	4,260	34,896	27,637	451	254	(67,498)	-
Excise taxes	-	-	(1,108)	(20,121)	-	-	(21,229)
Revenues from sales	34,964	42,142	114,129	60,618	279	(67,498)	184,634
Operating expenses	(29,964)	(16,722)	(108,982)	(57,159)	(927)	67,498	(146,256)
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,650)	(9,110)	(1,583)	(1,100)	(113)	-	(13,556)
Operating income	3,350	16,310	3,564	2,359	(761)	-	24,822
Net income (loss) from equity affiliates and other items	2,745	(760)	518	108	45	-	2,656
Tax on net operating income	(602)	(7,506)	(1,068)	(738)	152	-	(9,762)
Net operating income	5,493	8,044	3,014	1,729	(564)	-	17,716
Net cost of net debt							(1,350)
Non-controlling interests							(334)
Net income - TotalEnergies share							16,032

Year 2021 (adjustments) ^(a) (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	(44)	-	-	-	-	-	(44)
Intersegment sales	-	-	-	-	-	-	-
Excise taxes	-	-	-	-	-	-	-
Revenues from sales	(44)	-	-	-	-	-	(44)
Operating expenses	(271)	(187)	1,470	278	-	-	1,290
Depreciation, depletion and impairment of tangible assets and mineral interests	(342)	(418)	(25)	(36)	-	-	(821)
Operating income^(b)	(657)	(605)	1,445	242	-	-	425
Net income (loss) from equity affiliates and other items	(215)	(1,839)	56	(61)	(54)	-	(2,113)
Tax on net operating income	122	49	(396)	(70)	(67)	-	(362)
Net operating income^(b)	(750)	(2,395)	1,105	111	(121)	-	(2,050)
Net cost of net debt							25
Non-controlling interests							(3)
Net income - TotalEnergies share							(2,028)
^(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. ^(b)Of which inventory valuation effect
On operating income	-	-	1,481	315	-
On net operating income	-	-	1,296	236	-

Year 2021 (adjusted) (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	30,748	7,246	87,600	80,288	25	-	205,907
Intersegment sales	4,260	34,896	27,637	451	254	(67,498)	-
Excise taxes	-	-	(1,108)	(20,121)	-	-	(21,229)
Revenues from sales	35,008	42,142	114,129	60,618	279	(67,498)	184,678
Operating expenses	(29,693)	(16,535)	(110,452)	(57,437)	(927)	67,498	(147,546)
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,308)	(8,692)	(1,558)	(1,064)	(113)	-	(12,735)
Adjusted operating income	4,007	16,915	2,119	2,117	(761)	-	24,397
Net income (loss) from equity affiliates and other items	2,960	1,079	462	169	99	-	4,769
Tax on net operating income	(724)	(7,555)	(672)	(668)	219	-	(9,400)
Adjusted net operating income	6,243	10,439	1,909	1,618	(443)	-	19,766
Net cost of net debt							(1,375)
Non-controlling interests							(331)
Adjusted net income - TotalEnergies share							18,060



Year 2021 (M$)	Integrated Gas, Renewables & Power	Exploration & Production	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
Total expenditures	6,341	7,276	1,638	1,242	92	-	16,589
Total divestments	1,350	894	348	319	22	-	2,933
Cash flow from operating activities	827	22,009	6,473	2,333	(1,232)	-	30,410

Reconciliation of the information by business segment with consolidated financial statements
TotalEnergies
(unaudited)

4th quarter 2022 (M$)	Adjusted	Adjustments ^(a)	Consolidated statement of income
Sales	68,513	69	68,582
Excise taxes	(4,629)	-	(4,629)
Revenues from sales	63,884	69	63,953
Purchases, net of inventory variation	(42,755)	1,200	(41,555)
Other operating expenses	(7,027)	(327)	(7,354)
Exploration costs	(250)	-	(250)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,204)	699	(2,505)
Other income	636	(52)	584
Other expense	(591)	(2,237)	(2,828)
Financial interest on debt	(719)	-	(719)
Financial income and expense from cash & cash equivalents	338	19	357
Cost of net debt	(381)	19	(362)
Other financial income	266	-	266
Other financial expense	(150)	-	(150)
Net income (loss) from equity affiliates	1,873	(2,154)	(281)
Income taxes	(4,530)	(1,547)	(6,077)
Consolidated net income	7,771	(4,330)	3,441
TotalEnergies share	7,561	(4,297)	3,264
Non-controlling interests	210	(33)	177

^(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
4th quarter 2021 (M$)	Adjusted	Adjustments ^(a)	Consolidated statement of income
Sales	60,348	-	60,348
Excise taxes	(5,050)	-	(5,050)
Revenues from sales	55,298	-	55,298
Purchases, net of inventory variation	(36,189)	28	(36,161)
Other operating expenses	(6,630)	(50)	(6,680)
Exploration costs	(215)	(108)	(323)
Depreciation, depletion and impairment of tangible assets and mineral interests	(3,278)	(641)	(3,919)
Other income	551	(15)	536
Other expense	(493)	(262)	(755)
Financial interest on debt	(483)	-	(483)
Financial income and expense from cash & cash equivalents	105	15	120
Cost of net debt	(378)	15	(363)
Other financial income	195	-	195
Other financial expense	(138)	-	(138)
Net income (loss) from equity affiliates	1,787	73	1,860
Income taxes	(3,606)	(41)	(3,647)
Consolidated net income	6,904	(1,001)	5,903
TotalEnergies share	6,825	(988)	5,837
Non-controlling interests	79	(13)	66

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

Reconciliation of the information by business segment with consolidated financial statements
TotalEnergies


Year 2022 (M$) (unaudited)	Adjusted	Adjustments ^(a)	Consolidated statement of income
Sales	280,895	104	280,999
Excise taxes	(17,689)	-	(17,689)
Revenues from sales	263,206	104	263,310
Purchases, net of inventory variation	(171,049)	1,601	(169,448)
Other operating expenses	(28,745)	(1,044)	(29,789)
Exploration costs	(574)	(725)	(1,299)
Depreciation, depletion and impairment of tangible assets and mineral interests	(12,316)	95	(12,221)
Other income	1,349	1,500	2,849
Other expense	(1,542)	(5,802)	(7,344)
Financial interest on debt	(2,386)	-	(2,386)
Financial income and expense from cash & cash equivalents	746	397	1,143
Cost of net debt	(1,640)	397	(1,243)
Other financial income	812	84	896
Other financial expense	(533)	-	(533)
Net income (loss) from equity affiliates	8,254	(10,146)	(1,892)
Income taxes	(20,565)	(1,677)	(22,242)
Consolidated net income	36,657	(15,613)	21,044
TotalEnergies share	36,197	(15,671)	20,526
Non-controlling interests	460	58	518

^(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.
Year 2021 (M$)	Adjusted	Adjustments ^(a)	Consolidated statement of income
Sales	205,907	(44)	205,863
Excise taxes	(21,229)	-	(21,229)
Revenues from sales	184,678	(44)	184,634
Purchases, net of inventory variation	(120,160)	1,538	(118,622)
Other operating expenses	(26,754)	(140)	(26,894)
Exploration costs	(632)	(108)	(740)
Depreciation, depletion and impairment of tangible assets and mineral interests	(12,735)	(821)	(13,556)
Other income	1,300	12	1,312
Other expense	(944)	(1,373)	(2,317)
Financial interest on debt	(1,904)	-	(1,904)
Financial income and expense from cash & cash equivalents	340	39	379
Cost of net debt	(1,564)	39	(1,525)
Other financial income	762	-	762
Other financial expense	(539)	-	(539)
Net income (loss) from equity affiliates	4,190	(752)	3,438
Income taxes	(9,211)	(376)	(9,587)
Consolidated net income	18,391	(2,025)	16,366
TotalEnergies share	18,060	(2,028)	16,032
Non-controlling interests	331	3	334

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