TotalEnergies SE reported that the company will be implementing its annual capital increase reserved for existing and former employees according to company policies — which are in favour of employee shareholders.

Employee shareholders held 7.4 per cent of TotalEnergies SE’s share capital as of 31 December 2023.

The 16th resolution of the company’s shareholder’s meeting, which was held on 26 May 2023, granted the Board of Directors the authority to decide, within a maximum period of 26 months, to carry out one or more capital increase of ordinary shares:

• without preferential subscription rights
• without exceeding 1.5 per cent of the share capital at the date of the Board meeting to decide on the specifics of the operation
• reserving it to members of a savings plan under the provisions of Articles L. 225-129 et seq., L. 225-138 and L. 225-138-1 of the French Commercial Code and Articles L. 3332-1 to L. 3332-9 and L. 3332-18 to L. 3332-24 of the French Labor Code.

On 21 September 2023, the Board of Directors created a plan for 2024 — this included adding a new share capital increase reserved for existing and former TotalEnergies employees subject to the following conditions:

• A maximum number of shares to be offered and the total amount of the offer: 18 million shares with a nominal value of €2.50 each, representing a total nominal amount of €45 million, which is the equivalent of 0.72% of the share capital as of the date of the Board’s decision.
• Description of the newly issued shares: same category as existing TotalEnergies shares with immediate dividend rights. The rights attached to the newly issued shares are the same as the rights attached to the existing shares of the Corporation and are described in the Articles of Association of TotalEnergies SE.
• Listing of the newly issued shares on Euronext: on the same line as existing TotalEnergies shares (ISIN code FR0000120271), from their issuance. American Depositary Receipts admitted to trading on the New York Stock Exchange may be issued in exchange for the new shares.
• Share subscription price: equal to price corresponding to the average of the closing prices of the TotalEnergies shares on Euronext over the 20 trading sessions preceding the date of the decision setting the opening date for the subscription period, reduced by a 30% discount, and rounded off to the highest tenth of a euro. The subscription price will be definitively fixed before the beginning of the subscription period.

Important dates — which are subject to future decisions made by the company’s Chairman and CEO — are as follows:

• 25 April 2024 — Determine subscription price
• 29 April 2024 to 14 May 2024 — Subscription period