TotalEnergies EP Gabon

2023 Financial Results

Regulatory News:

The Board of Directors of TotalEnergies EP Gabon (Paris:EC) meeting on March 18, 2024, under the chairmanship of Mike Sangster, chairman of the Board of Directors, approved the Company’s financial statements for 2023 financial year.

In an uncertain economic environment, illustrated by an average Brent price of $82.6 per barrel, down 18% compared to 2022, crude oil production related to TotalEnergies EP Gabon's interests remains stable in 2023 compared to 2022, at 15.8 thousands barrels per day. The Company's net income and cash flow from operations were $26 million and $226 million, respectively. The Board of Directors, considering the Company's residual level of distributable earnings and confident in the strength of its balance sheet, particularly with the absence of debt, has decided to propose to the Ordinary General Meeting of Shareholders, convened on May 30, 2024, the renewal of an ordinary dividend of $22.22 per share, or $100 million for all shareholders.

This dividend will be payable in euros (or its equivalent in CFA francs) based on the euro/dollar exchange rate on the date of the Shareholders’ Meeting.

Main Financial Indicators

		2023	2022	2021	2023 vs 2022
Average Brent Price	$/b	82.6	101.3	70.9	-18%
Average TotalEnergies EP Gabon crude price (1)	$/b	77.5	94.2	64.8	-18%
Crude oil production from fields operated by TotalEnergies EP Gabon	kb/d (2)	15.8	15.8	15.0	-
Sales volumes (3)	Mb (4)	5.4	5.1	8.9	+6%
Revenues (5)