Integrated Gas Philippe Sauquet

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1 Integrated Gas Philippe Sauquet President Gas, Renewables & Power

2 Gas: Competitive, clean and flexible LNG global demand growing strongly, led by Asia Levelized cost of electricity in Asia $/MWh LNG demand Mt/y % % per year +5% per year Other Middle East CO2 Opex Europe Rest of Asia Fuel Capex China Japan Korea Taiwan Coal Gas CCGT CCGT cost competitive, flexible and clean LNG continuously growing, new markets opening 1

3 Opportunity to develop low cost LNG projects post-2020 Further reducing the breakeven of competitive projects LNG supply & demand Mt/y Potential LNG project merit order Mt/y capacity, breakeven DES Asia 400 to be sanctioned Demand Under construction 8-10 Existing supply 6-8 NLNG T7 Tellurian <6 LNG projects Papua LNG Qatar Source: IHS Source: Wood McKenzie and Total estimates 2

4 Global player with access to all LNG markets Growing flexibility from scale and integration Snøhvit South Hook Tellurian Yamal Dunkirk Fosmax Pakistan US exports Altamira Cuba 2 Mt/y new contracts in 2016 Ivory Coast Hazira Nigeria Brazil Angola Yemen Qatargas 1 & 2 Adgas Qalhat Oman Papua project Bontang Ichthys Liquefaction Long term purchase Existing & new regasification Existing & post 2016 long term sales 3 GLNG

5 Growing integrated LNG business Developing downstream gas help launching profitable Upstream projects Integrated LNG portfolio Mt/y +80% x2.5 x2 60% Reducing Upstream breakevens 15 Expanding global trading and shipping Growing Downstream integration FSRU and power generation B2B & B2C marketing and new usages Liquefaction Trading Regas B2B & B2C

6 Optimizing the full value chain Driving down costs in all segments Production Liquefaction Trading Shipping Regasification Marketing DES Asia ~0.5 B2B: B2C: Focusing on low cost gas (onshore) Simplifying designs (modular, small scale, brownfields) Increasing flexibility of portfolio Reducing Boil-off Operating floating regas (FSRU) Leveraging digital platforms 5

7 Starting from low cost gas Optimizing the development of competitive resources Production cost Capex+Opex, including transport 1.5 x 2.5 cheaper Deep Offshore dry gas US Shale Papua Nigeria Qatar Source: Wood McKenzie and Total estimates 6

8 Reducing liquefaction costs to ~500 $/t Prioritizing low cost modular solutions and brownfield expansions Liquefaction cost $/t Capex 1,000 ~500 $/t target East NLNG Africa T7 Greenfield US Papua modular Qatar Yemen (2009) Source: Wood McKenzie and Total estimates 7

9 Floating regasification units reducing cost to ~50 $/t World capacity expected to double to ~120 Mt per year by 2020 Regasification unit cost $/t, Capex -60% Onshore FSRU Opening new LNG markets, quick & easy to install 4 Mt/y announced, evaluating ~6 Mt/y 8

10 Growing balanced trading portfolio Leveraging size and flexibility to maximize margin Well balanced LNG trading portfolio Mt/y 2022 long term contracts price reviews No price review spot 15 Flexible destination B2B/B2C integrated regas Price review before 2022 Floating regas long term sales Fixed destination Long term sales Price review after supply 2016 demand 2022 supply 2022 demand Flexible supply & demand in line with market needs Targeting 5% market share of LNG trading Solid long term contracts 9

11 Growing B2B and B2C Marketing activities adding margin and resilience to the portfolio Cost to serve European B2C customers /year/client, for Total and European competitor range* 30-50% Your green electricity Your gas Combined offer Save money now! ESTIMATE MY SAVINGS SUBSCRIBE IN 2 CLICKS Highest cost average cost Total Lampiris Lowest cost High performance, low-cost digital platform * Total estimates 10

12 Developing new markets for gas Downstream portfolio generating new demand Marine transport LNG stimulated by IMO 2020 regulation change Road transport Natural gas for vehicules Becoming the European leader by 2022 Building supply network on main bunkering hubs Deploying Pitpoint technology in >300 stations 11

13 Integrated gas delivering >2 B$ free cash flow by 2022 Sustainable benefits from long plateau production +5% per year production 2x Gas & LNG trading portfolio +10% per year B2B/B2C sales Integrated gas free cash flow at 50 $/b B$ Capturing full value chain margin 12

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