TotalEnergies CEO Says Post-Dividend Break-Even Will Be Lowered To $35 From $50; Production Growth Of 2%-3% To 2035 Is Achievable Without Big M&A; Upstream President Terraz Says Expect To Deliver Additional $4B-$5B Of Cash Flow From Operations Between 2025-2030 In All Price Scenarios, Targets First Oil Production From Uganda's Kingfisher And Startup Of EACOP Pipeline By End Of Year; Expects Tilenga Oil Production To Start In First Half Of 2027, Later Than Previously Announced

TotalEnergies' CEO announced a reduction in the post-dividend break-even price from $50 to $35. The company aims for a production growth of 2%-3% through 2035 without significant mergers and acquisitions. Additionally, TotalEnergies' Upstream President, Terraz, projected an additional cash flow from operations of $4B-$5B between 2025-2030 across all price scenarios. The first oil production from Uganda's Kingfisher and the startup of the EACOP pipeline are expected by the end of the year, while Tilenga oil production is now anticipated to commence in the first half of 2027, later than previously planned.