Transition managed without delay Governance & Ethics Committee continuously preparing for succession Succession implemented in two days 2014 Unanimous decision of Board of Directors Chairman Thierry Desmarest and CEO Patrick…
A leaner Board of Directors Board members, following Shareholders Meeting* Thierry Patrick Patrick Patricia Marc Gunnar DESMAREST POUYANN ARTUS BARBIZET BLANC BROCK Marie-Christine Paul Anne-Marie Charles Barbara Grard…
A Board mobilized on essential missions Antwerp Board Meeting on site Board of Directors 10 meetings 92% attendance rate Specialized committees 4 committees: - Audit - Governance & Ethics - Compensation - Strategic 16…
Results and perspectives Patrick Pouyann Annual Shareholders Meeting 2015 total.com 7
Volatile oil prices Brent (/b) 100 99 /b 54 /b 50 2006 2010 2014 2015 2014 average 1Q 2015 average Faced with a drop in oil prices, Total has launched a cost reduction programme Annual Shareholders Meeting 2015…
Our response in four key words Safety Delivery Cost Cash Annual Shareholders Meeting 2015 total.com 9
Safety as a cornerstone of our strategy Incident rate (TRIR: Total Recordable Injury Rate) 299,000 people/year* TRIR 1.3 2010 2011 2012 2013 2014 Incident rate decreased by 50% over past 4 years Reducing costs without…
2014 and first quarter 2015 results 2014 adjusted net income 1Q 2015 adjusted net income 12.8 B Production growth since 2H 2.6 B 2014 +10% 1Q 2015 versus 1Q 2014 Upstream Upstream Strong performance of Downstream businesses…
Intensive investment program 2014 cash flow allocation 30 B Change Acquisitions 30 B from operations and asset sales in net debt 4.8 B asset sales closed Asset sales 2.5 B acquisitions Organic investment 26.4 B of…
Strong response in 2015 to decline in oil price 4 B cost reduction initiatives 10% Capex reduction to 23-24 B 1.2 B Opex savings 30% reduction in exploration budget to 1.9 B Eight Upstream start-ups 5 B asset sale…
Upstream growth 2014-2017 production 2.3 Mboe/d 2.15 Mboe/d 8% production growth in 2015 15 cash accretive projects to start up over 2014-2017 13 years of proved reserves 2014 2015 2017 2017 impact of project…
Profitability and repositioning in Downstream Refining & Chemicals Marketing & Services Successful restructuring program Stable and resilient results with 17% ROACE objective 13% ROACE objective reached in 2014 Developing in…
Robust response to 2015 challenges and a clear path forward Short-term response to decline in oil and gas prices Mid-term staying the course to deliver our strategy Upstream growth Maintaining Downstream profitability…
Compensation Patrick de La Chevardire Annual Shareholders Meeting 2015 total.com 17
Components of the compensation policy Fixed Variable Long-term compensation Amount set at the Linked to the performance Linked to the results beginning of the fiscal year of the past year of the next 3 years Annual Shareholders…
Compensation due for 2014 Christophe Thierry Patrick de Margerie Desmarest Pouyann CHAIRMAN & CHIEF EXECUTIVE OFFICER CHAIRMAN OF THE BOARD CHIEF EXECUTIVE OFFICER Fixed Fixed No compensation as 1,208,219 Chairman of the Board…
Fixed compensation due to Patrick Pouyann in his capacity as CEO for 2014 Fixed portion Determined by the Board of Directors, on the recommendation of the Compensation Committee Criteria taken into account annual 1,200,000 Pro…
Variable compensation due to Patrick Pouyann in his capacity as CEO for 2014 Variable amount set by the Board 295,469 * Max.: 165% of base salary Allocated: 127% of base salary HSE / CSR Cost reduction Max.: 16% of base…
Commitments to Patrick Pouyann Supplementary pension plan Supplementary pension plan amount: 28% of annual compensation* Acquisition of pension rights: < 1.8% of compensation, per year of service** Plan applying to all executive…
Dividend policy Patrick de La Chevardire Annual Shareholders Meeting 2015 total.com 23
Competitive shareholder return Evolution of dividend 2.38 2.44 * 2.44 /share dividend proposed for 2014, up 2.5% from 2013 1.18 + 2.5 % Introducing optional scrip dividend x2 10% maximum discount to market in 10 years…
Scrip dividend option 305 in cash 500 shares 2014 final OR dividend: 0.61 /share Dividend due: AND 305 7 new shares 10.86 Based on a share issue price of 42.02 * cash adjustment Based on gross dividend * Share issue…
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