TOTAL Sets New Climate Target

TOTAL announced its commitment to achieving net-zero emissions by 2050 in cooperation with society across its global production activities and energy products used by customers. This target is supported by a strategy that makes TOTAL a comprehensive energy company through petroleum and natural gas, low-carbon electricity and carbon-neutral solutions as an integrated part of its operations. TOTAL believes this low-carbon strategy provides a competitive advantage that creates long-term shareholder value. As a leading actor in reducing Scope 3 average carbon intensity with a 6% reduction currently achieved since 2015, TOTAL has now set the highest target among major players by aiming to reduce Scope 3 average carbon intensity to below 27.5 gCO2/MJ by 2050. Chairman and Chief Executive Officer Patrick Pouyanné stated: "Energy markets are changing due to climate change, technology and societal expectations. TOTAL is committed to delivering more energy with lower emissions. We are determined to increase shareholder value while making progress in the energy transition. Today, we announce our new Climate Target to achieve net-zero emissions by 2050 in cooperation with society. The Board believes that TOTAL's global roadmap, strategy and actions are aligned with the objectives of the Paris Agreement.

We acknowledge that engagement and transparent dialogue with investors, as in Climate Action 100+, play a positive role.

We know that the trust of our shareholders and society at large is essential for TOTAL to remain an attractive and reliable long-term investment, and we can only play an effective role in reaching a low-carbon future by remaining a world-class investment. For this reason, our employees are taking action to identify opportunities to reduce our emissions, improve our products and develop new low-carbon activities." Pouyanné continued: "By setting a target to achieve net-zero emissions by 2050, the EU is paving the way for other regions to become carbon-neutral over time. TOTAL commits to being carbon-neutral across all its activities in Europe. By choosing to be a European company, we want to be an exemplary corporate citizen in Europe and are providing active support to the EU to reach our net-zero emissions target by 2050. TOTAL is collaborating with other companies to decarbonize energy use. We confirm our target of 25 GW gross renewable energy capacity in 2025 and continue to expand our operations to become a leading international player in renewable energies.

We are already allocating more than 10% of our capital expenditure to low-carbon electricity, which is the highest proportion among major players.

To actively contribute to the energy transition, we will increase the capital expenditure allocated to low-carbon electricity to 20% by 2030 or sooner." Emre Şanda, Marketing General Manager of Total Turkey, made the following statement on the matter: "As Total Turkey Marketing, we are contributing to reducing greenhouse gas emissions, assessing and reducing our environmental footprint, and increasing energy efficiency through our low-emission LowSAPS engine oils and FE (Fuel Economy) engine oils that improve fuel economy. Our engine oils cause less air pollution compared to similar competitor products. Our products also contribute to the environment by improving fuel efficiency. This also reduces fossil fuel consumption and carbon footprint of vehicles."