CONSOLIDATED STATEMENT OF INCOME

TotalEnergies
(unaudited)

1st quarter 4th quarter 1st quarter
(M$)(a) 2025 2024 2024

Sales 52,254 52,508 56,278
Excise taxes (4,355) (5,393) (4,395)
Revenues from sales 47,899 47,115 51,883


Purchases, net of inventory variation (30,855) (30,342) (33,780)
Other operating expenses (7,564) (7,219) (7,643)
Exploration costs (81) (242) (88)
Depreciation, depletion and impairment of tangible assets and mineral interests (2,998) (2,715) (2,942)
Other income 247 306 1,758
Other expense (291) (341) (315)


Financial interest on debt (725) (786) (708)
Financial income and expense from cash & cash equivalents 290 449 472
Cost of net debt (435) (337) (236)


Other financial income 318 319 306
Other financial expense (249) (193) (215)


Net income (loss) from equity affiliates 663 597 18

Income taxes (2,733) (2,929) (2,942)
Consolidated net income 3,921 4,019 5,804
TotalEnergies share 3,851 3,956 5,721
Non-controlling interests 70 63 83
Earnings per share ($) 1.69 1.72 2.42
Fully-diluted earnings per share ($) 1.68 1.70 2.40

(a) Except for per share amounts.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

TotalEnergies
(unaudited)


1st quarter 4th quarter 1st quarter
(M$) 2025 2024 2024

Consolidated net income 3,921 4,019 5,804

Other comprehensive income

Actuarial gains and losses - (3) (2)
Change in fair value of investments in equity instruments 12 142 40
Tax effect 1 36 (8)
Currency translation adjustment generated by the parent company 2,882 (5,125) (1,506)
Items not potentially reclassifiable to profit and loss 2,895 (4,950) (1,476)
Currency translation adjustment (2,017) 3,594 1,099
Cash flow hedge (833) 1,732 807
Variation of foreign currency basis spread 15 (13) (15)
Share of other comprehensive income of equity affiliates, net amount (100) 76 (76)
Other 7 (1) 2
Tax effect 205 (441) (219)
Items potentially reclassifiable to profit and loss (2,723) 4,947 1,598
Total other comprehensive income (net amount) 172 (3) 122

Comprehensive income 4,093 4,016 5,926
TotalEnergies share 4,007 4,001 5,870
Non-controlling interests 86 15 56
CONSOLIDATED BALANCE SHEET
TotalEnergies
March 31, December 31, March 31,
2025 2024 2024
(M$) (unaudited) (unaudited) (unaudited)


ASSETS

Non-current assets
Intangible assets, net 34,543 34,238 33,193
Property, plant and equipment, net 112,249 109,095 109,462
Equity affiliates : investments and loans 35,687 34,405 31,256
Other investments 1,860 1,665 1,895
Non-current financial assets 2,231 2,305 2,308
Deferred income taxes 3,360 3,202 3,165
Other non-current assets 4,000 4,006 4,328
Total non-current assets 193,930 188,916 185,607

Current assets
Inventories, net 19,037 18,868 20,229
Accounts receivable, net 24,882 19,281 24,198
Other current assets 22,423 23,687 20,615
Current financial assets 6,237 6,914 6,319
Cash and cash equivalents 22,837 25,844 25,640
Assets classified as held for sale 1,711 1,977 525
Total current assets 97,127 96,571 97,526
Total assets 291,057 285,487 283,133

LIABILITIES & SHAREHOLDERS' EQUITY

Shareholders' equity
Common shares 7,231 7,577 7,548
Paid-in surplus and retained earnings 128,787 135,496 129,937
Currency translation adjustment (14,508) (15,259) (14,167)
Treasury shares (3,554) (9,956) (4,909)
Total shareholders' equity - TotalEnergies Share 117,956 117,858 118,409
Non-controlling interests 2,465 2,397 2,734
Total shareholders' equity 120,421 120,255 121,143

Non-current liabilities
Deferred income taxes 12,621 12,114 11,878
Employee benefits 1,824 1,753 1,941
Provisions and other non-current liabilities 19,872 19,872 20,961
Non-current financial debt 45,858 43,533 38,053
Total non-current liabilities 80,175 77,272 72,833

Current liabilities
Accounts payable 42,554 39,932 37,647
Other creditors and accrued liabilities 32,505 35,961 32,949
Current borrowings 13,134 10,024 17,973
Other current financial liabilities 897 664 481
Liabilities directly associated with the assets classified as held for sale 1,371 1,379 107
Total current liabilities 90,461 87,960 89,157
Total liabilities & shareholders' equity 291,057 285,487 283,133
CONSOLIDATED STATEMENT OF CASH FLOW

TotalEnergies

(unaudited)

1st quarter 4th quarter 1st quarter
(M$) 2025 2024 2024

CASH FLOW FROM OPERATING ACTIVITIES

Consolidated net income 3,921 4,019 5,804
Depreciation, depletion, amortization and impairment 3,086 2,971 3,036
Non-current liabilities, valuation allowances and deferred taxes 209 44 292
(Gains) losses on disposals of assets 25 (66) (1,610)
Undistributed affiliates' equity earnings (423) 99 288
(Increase) decrease in working capital (4,232) 5,201 (5,686)
Other changes, net (23) 239 45
Cash flow from operating activities 2,563 12,507 2,169

CASH FLOW USED IN INVESTING ACTIVITIES

Intangible assets and property, plant and equipment additions (4,222) (3,680) (3,420)
Acquisitions of subsidiaries, net of cash acquired (232) (932) (759)
Investments in equity affiliates and other securities (311) (313) (488)
Increase in non-current loans (568) (658) (538)
Total expenditures (5,333) (5,583) (5,205)
Proceeds from disposals of intangible assets and property, plant and equipment 301 314 337
Proceeds from disposals of subsidiaries, net of cash sold 117 654 1,218
Proceeds from disposals of non-current investments 1 220 34
Repayment of non-current loans 109 650 149
Total divestments 528 1,838 1,738
Cash flow used in investing activities (4,805) (3,745) (3,467)

CASH FLOW FROM FINANCING ACTIVITIES

Issuance (repayment) of shares:
- Parent company shareholders - - -
- Treasury shares (2,152) (1,977) (2,006)
Dividends paid:
- Parent company shareholders (1,851) (1,998) (1,903)
- Non-controlling interests (139) (18) (6)
Net issuance (repayment) of perpetual subordinated notes (1,139) 1,165 -
Payments on perpetual subordinated notes (128) (82) (159)
Other transactions with non-controlling interests (20) (17) (17)
Net issuance (repayment) of non-current debt 3,431 91 42
Increase (decrease) in current borrowings 150 (4,136) 3,536
Increase (decrease) in current financial assets and liabilities 718 (965) 271
Cash flow from / (used in) financing activities (1,130) (7,937) (242)
Net increase (decrease) in cash and cash equivalents (3,372) 825 (1,540)
Effect of exchange rates 365 (653) (83)
Cash and cash equivalents at the beginning of the period 25,844 25,672 27,263
Cash and cash equivalents at the end of the period 22,837 25,844 25,640
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
TotalEnergies
(unaudited)
Common shares issued Paid-in Currency Treasury shares Shareholders' Non- Total
surplus and translation equity - controlling shareholders'
retained adjustment TotalEnergies interests equity
(M$) Number Amount earnings Number Amount Share
As of January 1, 2024 2,412,251,835 7,616 126,857 (13,701) (60,543,213) (4,019) 116,753 2,700 119,453

Net income of the first quarter 2024 - - 5,721 - - - 5,721 83 5,804
Other comprehensive income - - 614 (465) - - 149 (27) 122
Comprehensive Income - - 6,335 (465) - - 5,870 56 5,926
Dividend - - - - - - - (6) (6)
Issuance of common shares - - - - - - - - -
Purchase of treasury shares - - - - (30,581,230) (2,556) (2,556) - (2,556)
Sale of treasury shares(a) - - - - 2,957 - - - -
Share-based payments - - 59 - - - 59 - 59
Share cancellation (25,405,361) (68) (1,597) - 25,405,361 1,665 - - -
Net issuance (repayment) of
- - (1,679) - - - (1,679) - (1,679)
perpetual subordinated notes
Payments on perpetual
- - (71) - - - (71) - (71)
subordinated notes
Other operations with
- - - - - - - (17) (17)
non-controlling interests
Other items - - 33 (1) - 1 33 1 34

As of March 31, 2024 2,386,846,474 7,548 129,937 (14,167) (65,716,125) (4,909) 118,409 2,734 121,143
Net income from April 1 to
- - 10,037 - - - 10,037 190 10,227
December 31, 2024
Other comprehensive income - - 1,822 (1,093) - - 729 (17) 712
Comprehensive Income - - 11,859 (1,093) - - 10,766 173 10,939
Dividend - - (7,756) - - - (7,756) (449) (8,205)
Issuance of common shares 10,833,187 29 492 - - - 521 - 521
Purchase of treasury shares - - - - (89,882,002) (5,439) (5,439) - (5,439)
Sale of treasury shares(a) - - (395) - 6,068,309 395 - - -
Share-based payments - - 497 - - - 497 - 497
Share cancellation - - 2 - - (2) - - -
Net issuance (repayment) of
- - 1,103 - - - 1,103 - 1,103
perpetual subordinated notes
Payments on perpetual
- - (201) - - - (201) - (201)
subordinated notes
Other operations with
- - - - - - - (50) (50)
non-controlling interests
Other items - - (42) 1 - (1) (42) (11) (53)

As of December 31, 2024 2,397,679,661 7,577 135,496 (15,259) (149,529,818) (9,956) 117,858 2,397 120,255
Net income of the first quarter 2025 - - 3,851 - - - 3,851 70 3,921
Other comprehensive income - - (595) 751 - - 156 16 172
Comprehensive Income - - 3,256 751 - - 4,007 86 4,093
Dividend - - - - - - - (5) (5)
Issuance of common shares - - - - - - - - -
Purchase of treasury shares - - - - (33,770,546) (2,633) (2,633) - (2,633)
Sale of treasury shares(a) - - (413) - 6,209,016 413 - - -
Share-based payments - - 112 - - - 112 - 112

Share cancellation (127,622,460) (346) (8,395) - 127,622,460 8,622 (119) - (119)
Net issuance (repayment) of
- - (1,219) - - - (1,219) - (1,219)
perpetual subordinated notes
Payments on perpetual
- - (77) - - - (77) - (77)
subordinated notes
Other operations with
- - - - - - - (20) (20)
non-controlling interests
Other items - - 27 - - - 27 7 34

As of March 31, 2025 2,270,057,201 7,231 128,787 (14,508) (49,468,888) (3,554) 117,956 2,465 120,421
(a)
Treasury shares related to the performance share grants.
TotalEnergies
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FIRST THREE MONTHS 2025
(unaudited)




1) Basis of preparation of the consolidated financial statements
The consolidated financial statements are prepared in accordance with International Financial Reporting Standards
(IFRS) as adopted by the European Union and IFRS as published by the International Accounting Standards Board
(IASB).
The interim consolidated financial statements of TotalEnergies SE and its subsidiaries (the Company) as of March
31, 2025, are presented in U.S. dollars and have been prepared in accordance with International Accounting
Standard (IAS) 34 Interim Financial .
The accounting principles applied for the consolidated financial statements at March 31, 2025, are consistent with
those used for the financial statements at December 31, 2024.

The preparation of financial statements in accordance with IFRS for the closing as of March 31, 2025 requires the
General Management to make estimates, assumptions and judgments that affect the information reported in the
Consolidated Financial Statements and the Notes thereto.
These estimates, assumptions and judgments are based on historical experience and other factors believed to be
reasonable at the date of preparation of the financial statements. They are reviewed on an on-going basis by
General Management and therefore could be revised as circumstances change or as a result of new information.

The main estimates, judgments and assumptions relate to the estimation of hydrocarbon reserves in application of
the successful efforts method for the oil and gas activities, asset impairments, employee benefits, asset retirement
obligations and income taxes. These estimates and assumptions are described in the Notes to the Consolidated
Financial Statements as of December 31, 2024.

Different estimates, assumptions and judgments could significantly affect the information reported, and actual results
may differ from the amounts included in the Consolidated Financial Statements and the Notes thereto.

Furthermore, when the accounting treatment of a specific transaction is not addressed by any accounting standard
or interpretation, the General Management of the Company applies its judgment to define and apply accounting
policies that provide information consistent with the general IFRS concepts: faithful representation, relevance and
materiality.


2) Changes in the Company structure

2.1) Main acquisitions and divestments

TotalEnergies did not make any significant acquisitions or divestments during the first three months of 2025.




March 31, 2025 - Notes to the consolidated financial statements - 1/11
2.2) Major business combinations

Integrated LNG

Acquisition of the Upstream Gas Assets of SapuraOMV

In December 2024, TotalEnergies has finalized the acquisition of the interests of OMV (50%) and Sapura Upstream
Assets (50%) in SapuraOMV Upstream (SapuraOMV), an independent gas producer and operator in Malaisia. In
accordance with TotalEnergies is assessing the fair value of identifiable acquired
assets, liabilities and contingent liabilities on the basis of available information. The preliminary purchase price
allocation is shown below:

(M$) At the acquisition date
Goodwill 440
Intangible assets 437
Tangible assets 1,022
Other assets and liabilities (486)
Net debt of the acquired treasury (224)
Fair value of the consideration transferred 1,189


2.3) Major divestment projects

On July 17, 2024, TotalEnergies announced that its subsidiary TotalEnergies EP Nigeria signed a sale and purchase
agreement (SPA) with Chappal Energies for the sale of its 10% interest in the SPDC JV licenses in Nigeria.

As of March 31, 2025, the assets and liabilities are respectively classified in the consolidated balance sheet as

amount of $980 million. These assets mainly include tangible assets.

3) Business segment information
Description of the business segments
Financial information by business segment is reported in accordance with the internal reporting system and shows
internal segment information that is used to manage and measure the performance of TotalEnergies and which is
reviewed by the main operational decision-making body of TotalEnergies, namely the Executive Committee.
The operational profit and assets are broken down by business segment prior to the consolidation and inter-segment
adjustments.

Sales prices for transactions between business segments approximate market prices.
The reporting structure for the business segment is based on the following five business
segments:
- An Exploration & Production segment that encompasses the activities of exploration and production of oil
and natural gas, conducted in about 50 countries;
- An Integrated LNG segment covering the integrated gas chain (including upstream and midstream LNG
activities) as well as biogas, hydrogen and gas trading activities;
- An Integrated Power segment covering generation, storage, electricity trading and B2B-B2C distribution of
gas and electricity;
- A Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining,
petrochemicals and specialty chemicals. This segment also includes the activities of oil Supply, Trading and
marine Shipping;
- A Marketing & Services segment including the global activities of supply and marketing in the field of
petroleum products;
In addition the Corporate segment includes holdings operating and financial activities.


March 31, 2025 - Notes to the consolidated financial statements - 2/11
Definition of the indicators
Adjusted Net Operating Income
TotalEnergies measures performance at the segment level on the basis of adjusted net operating income. Adjusted
net operating income comprises operating income of the relevant segment after deducting the amortization and the
depreciation of intangible assets other than mineral interest, translation adjustments and gains or losses on the sale
of assets, as well as all other income and expenses related to capital employed (dividends from non-consolidated
companies, income from equity affiliates and capitalized interest expenses) and after income taxes applicable to the
above, excluding the effect of the adjustments describe below.
The income and expenses not included in net operating income adjusted that are included in net income
TotalEnergies share are interest expenses related to net financial debt, after applicable income taxes (net cost of net
debt), non-controlling interests, and the adjusted items.
Adjustment items include:
a) Special items
Due to their unusual nature or particular significance, certain transactions qualifying as "special items" are
excluded from the business segment figures. In general, special items relate to transactions that are significant,
infrequent or unusual. However, in certain instances, transactions such as restructuring costs or assets
disposals, which are not considered to be representative of the normal course of business, may qualify as
special items although they may have occurred in prior years or are likely to occur in following years.
b) The inventory valuation effect
In accordance with IAS 2, TotalEnergies values inventories of petroleum products in its financial statements
according to the First-in, First-Out (FIFO) method and other inventories using the weighted-average cost
method. Under the FIFO method, the cost of inventory is based on the historic cost of acquisition or
manufacture rather than the current replacement cost. In volatile energy markets, this can have a significant
distorting effect on the reported income. Accordingly, the adjusted results of the Refining & Chemicals and
Marketing & Services segments are presented according to the replacement cost method. This method is used

of its main competitors.
In the replacement cost method, which approximates the Last-In, First-Out (LIFO) method, the variation of
inventory values in the statement of income is, depending on the nature of the inventory, determined using
either the month-end prices differential between one period and another or the average prices of the period
rather than the historical value. The inventory valuation effect is the difference between the results under the
FIFO and the replacement cost method.
c) Effect of changes in fair value
The effect of changes in fair value presented as an adjustment item reflects for trading inventories and storage

and the accounting for these transactions under IFRS.
IFRS requires that trading inventories be recorded at their fair value using period end spot prices. In order to
best reflect the management of economic exposure through derivative transactions, internal indicators used to
measure performance include valuations of trading inventories based on forward prices.
TotalEnergies, in its trading activities, enters into storage contracts, whose future effects are recorded at fair

Furthermore, TotalEnergies enters into derivative instruments to risk manage certain operational contracts or
assets. Under IFRS, these derivatives are recorded at fair value while the underlying operational transactions
are recorded as they occur. Internal indicators defer the fair value on derivatives to match with the transaction
occurrence.




March 31, 2025 - Notes to the consolidated financial statements - 3/11
3.1) Information by business segment


1st quarter 2025 Exploration Refining Marketing
Integrated Integrated
& & & Corporate Intercompany Total
LNG Power
(M$) Production Chemicals Services

External sales 1,569 3,088 5,967 22,627 19,001 2 - 52,254
Intersegment sales 8,727 3,252 684 6,811 156 25 (19,655) -
Excise taxes - - - (112) (4,243) - - (4,355)
Revenues from sales 10,296 6,340 6,651 29,326 14,914 27 (19,655) 47,899
Operating expenses (3,800) (4,956) (6,185) (28,648) (14,374) (192) 19,655 (38,500)
Depreciation, depletion and impairment of
(1,950) (391) (75) (339) (217) (26) - (2,998)
tangible assets and mineral interests
Net income (loss) from equity affiliates and
133 565 44 (8) (10) (36) - 688
other items
Tax on net operating income (2,328) (275) (73) (83) (98) 74 - (2,783)
Adjustments (a) (100) (11) (144) (53) (25) (22) - (355)
Adjusted net operating income 2,451 1,294 506 301 240 (131) - 4,661
Adjustments (a) (355)
Net cost of net debt (385)
Non-controlling interests (70)
Net income - TotalEnergies share 3,851
(a)
Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the
Integrated LNG segment.
Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of Integrated LNG segment.
Effects of changes in the fair value of power positions are allocated to the operating income of Integrated Power segment.




1st quarter 2025 Exploration Refining Marketing
Integrated Integrated
& & & Corporate Intercompany Total
LNG Power
(M$) Production Chemicals Services

Total expenditures 3,047 902 936 242 172 34 - 5,333
Total divestments 358 10 58 6 97 (1) - 528
Cash flow from operating activities 3,266 1,743 (399) (1,983) 568 (632) - 2,563




March 31, 2025 - Notes to the consolidated financial statements - 4/11
1st quarter 2024 Exploration Refining Marketing
Integrated Integrated
& & & Corporate Intercompany Total
LNG Power
(M$) Production Chemicals Services

External sales 1,318 2,659 7,082 24,533 20,671 15 - 56,278
Intersegment sales 9,735 3,495 790 8,143 269 63 (22,495) -
Excise taxes - - - (170) (4,225) - - (4,395)
Revenues from sales 11,053 6,154 7,872 32,506 16,715 78 (22,495) 51,883
Operating expenses (4,444) (4,784) (7,565) (30,888) (16,096) (229) 22,495 (41,511)
Depreciation, depletion and impairment of
(1,917) (321) (97) (376) (206) (25) - (2,942)
tangible assets and mineral interests
Net income (loss) from equity affiliates and
97 495 (615) 68 1,480 27 - 1,552
other items
Tax on net operating income (2,261) (284) (40) (255) (108) 55 - (2,893)
Adjustments (a) (22) 38 (1,056) 93 1,530 (4) - 579
Adjusted net operating income 2,550 1,222 611 962 255 (90) - 5,510
Adjustments (a) 579
Net cost of net debt (285)
Non-controlling interests (83)
Net income - TotalEnergies share 5,721
(a)
Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

The management of balance sheet positions (including margin calls) related to centralized markets access for LNG, gas and power activities has been fully included in the
Integrated LNG segment.
Effects of changes in the fair value of gas and LNG positions are allocated to the operating income of Integrated LNG segment.
Effects of changes in the fair value of power positions are allocated to the operating income of Integrated Power segment.




1st quarter 2024 Exploration Refining Marketing
Integrated Integrated
& & & Corporate Intercompany Total
LNG Power
(M$) Production Chemicals Services

Total expenditures 2,294 565 1,739 435 144 28 - 5,205
Total divestments 306 50 62 38 1,281 1 - 1,738
Cash flow from operating activities 3,590 1,710 (249) (2,129) (108) (645) - 2,169




March 31, 2025 - Notes to the consolidated financial statements - 5/11
3.2) Adjustment items


The main adjustement items for the first three months 2025 are the following:
1)
Chemicals and Marketing & Services segments;

2)
LNG and Integrated Power segments;

3)
Profits Levy in the United Kingdom on deferred tax.


The detail of the adjustment items is presented in the table below.


ADJUSTMENTS TO NET OPERATING INCOME
Exploration Integrated Integrated Refining Marketing Corporate Total
& LNG Power & &
(M$) Production Chemicals Services
1st quarter
Inventory valuation effect - - - (53) (25) - (78)
2025
Effect of changes in fair value - (11) (144) - - - (155)
Restructuring charges - - - - - - -
Asset impairment and provisions
charges
- - - - - - -
Gains (losses) on disposals of
assets
- - - - - - -
Other items (100) - - - - (22) (122)
Total (100) (11) (144) (53) (25) (22) (355)
1st quarter
Inventory valuation effect - - - 93 14 - 107
2024
Effect of changes in fair value - 38 (358) - - - (320)
Restructuring charges - - - - - - -
Asset impairment and provisions
charges
- - (644) - - - (644)
Gains (losses) on disposals of
assets
(9) - - - 1,516 - 1,507
Other items (13) - (54) - - (4) (71)
Total (22) 38 (1,056) 93 1,530 (4) 579




March 31, 2025 - Notes to the consolidated financial statements - 6/11
4)


Treasury shares (TotalEnergies shares held directly by TotalEnergies SE)

December 31, 2024 March 31, 2025
Number of treasury shares 149,529,818 49,468,888
Percentage of share capital 6.24% 2.18%


At its meeting on February 4, 2025, the Board of Directors decided, following the authorization of the Extraordinary

27, 2023 and November 19, 2024.



Dividend

On February 4, 2025, the Board of Directors, after approving the financial statements for fiscal year 2024, decided to
2025
fiscal year 2024
by the Board of Directors, the final ordinary dividend for the fiscal year 2024


Dividend 2024 First interim Second interim Third interim Final

Amount

Set date April 25, 2024 July 24, 2024 October 30, 2024 February 4, 2025
Ex-dividend date September 25, 2024 January 2, 2025 March 26, 2025 June 19, 2025
Payment date October 1, 2024 January 6, 2025 April 1, 2025 July 1, 2025


The Board of Directors, at its meeting on April 29, 2025, set the first interim dividend for the fiscal year 2025 0.85
per share. The ex-dividend date of this interim dividend will be October 1, 2025 and it will be paid in cash on October
3, 2025.


Earnings per share in Euro
Earnings per share in Euro, calculated from the earnings per share in U.S. dollars converted at the average
st

the 4th st quarter 2024). Diluted earnings per share calculated using the
st th quarter 2024 and
st quarter 2024).
Earnings per share are calculated after remuneration of perpetual subordinated notes.

Perpetual subordinated notes

TotalEnergies SE has not issued any perpetual subordinated notes during the first three months of 2025.
In February 2025, TotalEnergies SE has redeemed
subordinated notes carrying a coupon of 2.625%, issued in February 2015, on their first call date.




March 31, 2025 - Notes to the consolidated financial statements - 7/11
Other comprehensive income
Detail of other comprehensive income is presented in the table below:




(M$) 1st quarter 2025 1st quarter 2024
Actuarial gains and losses - (2)

Change in fair value of investments in equity instruments 12 40

Tax effect 1 (8)
Currency translation adjustment generated by the parent company 2,882 (1,506)
Sub-total items not potentially reclassifiable to profit and loss 2,895 (1,476)


Currency translation adjustment (2,017) 1,099
- unrealized gain/(loss) of the period (2,022) 1,097
- less gain/(loss) included in net income (5) (2)



Cash flow hedge (833) 807
- unrealized gain/(loss) of the period (1,050) 763
- less gain/(loss) included in net income (217) (44)


Variation of foreign currency basis spread 15 (15)
- unrealized gain/(loss) of the period 11 (41)
- less gain/(loss) included in net income (4) (26)


Share of other comprehensive income of (100) (76)
equity affiliates, net amount
- unrealized gain/(loss) of the period (98) (78)
- less gain/(loss) included in net income 2 (2)

Other 7 2

Tax effect 205 (219)
Sub-total items potentially reclassifiable to profit and loss (2,723) 1,598

Total other comprehensive income (net amount) 172 122




March 31, 2025 - Notes to the consolidated financial statements - 8/11
Tax effects relating to each component of other comprehensive income are as follows:



1st quarter 2025 1st quarter 2024

Pre-tax Pre-tax
(M$) amount Tax effect Net amount amount Tax effect Net amount
Actuarial gains and losses - 3 3 (2) 1 (1)

Change in fair value of investments in equity
instruments 12 (2) 10 40 (9) 31
Currency translation adjustment generated by
2,882 - 2,882 (1,506) - (1,506)
the parent company
Sub-total items not potentially
2,894 1 2,895 (1,468) (8) (1,476)
reclassifiable to profit and loss
Currency translation adjustment (2,017) - (2,017) 1,099 - 1,099

Cash flow hedge (833) 209 (624) 807 (223) 584

Variation of foreign currency basis spread 15 (4) 11 (15) 4 (11)
Share of other comprehensive income of
(100) - (100) (76) - (76)
equity affiliates, net amount
Other 7 - 7 2 - 2
Sub-total items potentially reclassifiable to
(2,928) 205 (2,723) 1,817 (219) 1,598
profit and loss

Total other comprehensive income (34) 206 172 349 (227) 122




5) Financial debt
The Company has issued senior bonds across three tranches in the Euro markets in February 2025:

- 1,000 million of euros at 3.160% issued by TotalEnergies Capital International and maturing in March 2033;

- 850 million of euros at 3.499% issued by TotalEnergies Capital International and maturing in March 2037;

- 1,300 million of euros at 3.852% issued by TotalEnergies Capital International and maturing in March 2045.



The Company has redeemed two senior bonds during the first three months of 2025:

- 1,000 million dollars at 2.434% bond issued by TotalEnergies Capital International in 2019 and maturing in
January 2025;
- 850 million euros at 1.375% bond issued by TotalEnergies Capital International in 2014 and maturing in
March 2025.



6) Related parties
The related parties are mainly equity affiliates and non-consolidated investments.
There were no major changes concerning transactions with related parties during the first three months of 2025.




March 31, 2025 - Notes to the consolidated financial statements - 9/11
7) Other risks and contingent liabilities
TotalEnergies is not currently aware of any exceptional event, dispute, risks or contingent liabilities that could have a
material impact on the assets and liabilities, results, financial position or operations of the TotalEnergies company,
other than those mentioned below.


Yemen

In Yemen, the deterioration of security conditions in the vicinity of the Balhaf site caused the company Yemen LNG,
in which the TotalEnergies company holds a stake of 39.62%, to stop its commercial production and export of LNG
and to declare force majeure to its various stakeholders in 2015. The plant has been put in preservation mode.


Mozambique
Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, the
TotalEnergies company has confirmed on April 26, 2021, the withdrawal of all Mozambique LNG project personnel
from the Afungi site. This situation led the Company, as operator of Mozambique LNG project, to declare force
majeure.


Legal and arbitration proceedings

- Disputes relating to Climate

associations and local communities in order to oblige the Company to complete its Vigilance Plan, by identifying in
detail risks relating to a global warming above 1.5 °C, as well as indicating the expected amount of future
greenhouse gas emissions related to the Company's activities and its product utilization by third parties and in order
to obtain an injunction ordering the Corporation to cease exploration and exploitation of new oil or gas fields, to
reduce its oil and gas production by 2030 and 2050, and to reduce its net direct and indirect CO 2 emissions by 40%
in 2040 compared with 2019. This action was declared inadmissible on July 6, 2023, by the Paris Civil Court of
Justice to which the case was transferred following a new procedural law. Following the appeal filed by the
claimants, the Paris Court of Appeal, in a judgment of June 18, 2024, considered the action initiated admissible in
particular on the basis of the law on the duty of vigilance transferring the case for trial on the merits before the Paris
Civil Court of Justice, while strucking out 17 of the 22 applicants as well as declining to awards any provisional
measures. TotalEnergies SE considers that it has fulfilled its obligations under the French law on the vigilance
duty. A new action against the Corporation, with similar requests for injunction, has started in March 2024 before the
commercial court of Tournai in Belgium.
Some associations in France brought civil and criminal actions against TotalEnergies SE, with the purpose of
proving that since May 2021 after the change of name of TotalEnergies
communication and its publicity campaign contain environmental claims that are either false or misleading for the
consumer. TotalEnergies considers that these accusations are unfounded.
In France, on July 4, 2023, nine shareholders (two companies and 7 individuals holding a small number of the
Corporation's shares) brought an action against the Corporation before the Nanterre Commercial Court, seeking the

recording the results for fiscal year 2022 and setting the amount of the dividend to be distributed for fiscal year 2022.
The plaintiffs essentially allege an insufficient provision for impairment of TotalEnergies's assets in the financial
statements for the fiscal year 2022, due to the insufficient consideration of future risks and costs related to the
consequences of greenhouse gas emissions emitted by its customers (scope 3) and carbon cost assumptions
presented as too low. The Corporation considers this action to be unfounded.
In the United States, several US subsidiaries of TotalEnergies were summoned, amongst many companies and
professional associations, in several "climate litigation" cases, seeking to establish legal liability for past greenhouse
gas emissions, and to compensate plaintiff public authorities, in particular for resulting adaptation costs. The
Corporation was summoned, in some of these claims along with these subsidiaries and considers that the courts
lack jurisdiction, that it has many arguments to put forward, and considers also that the past and present behavior of
the Company does not constitute a fault susceptible to give rise to liability.




March 31, 2025 - Notes to the consolidated financial statements - 10/11
- Mozambique
In France, victims and heirs of deceased persons filed a complaint against the Company in October 2023 with the
Nanterre Prosecutor, following the events perpetrated by terrorists in the city of Palma in March 2021. This complaint

The Corporation considers these accusations as unfounded in both law and fact 1.
- Kazakhstan
On April 1st, 2024, the Republic of Kazakhstan filed a Statement of Claims in the context of an arbitration involving
TotalEnergies EP Kazakhstan and its partners under the production sharing contract related to the North Caspian
Sea. TotalEnergies EP Kazakhstan and its partners consider this action to be unfounded. Therefore, it is not
possible at this date to reliably assess the potential consequences of this claim, particularly financial ones, nor the
date of their implementation.



8) Subsequent events
In April 2, 2025, following the agreements signed in 2024, TotalEnergies finalized the acquisition of VSB Group, a
European wind and solar developer with extensive operations in Germany, for a consideration of billion.




1 Refer to the press release published by the Company on October 11, 2023 contesting the accusations.

March 31, 2025 - Notes to the consolidated financial statements - 11/11