1 GROUP STRATEGY Philippe Sauquet, Directeur Strategy-InnovationTOTAL is the 4th largest international oil and gas company. With operations in more than 130 countries, TOTAL is engaged in every sector of the oil and gas industry. By leveraging this integrated business model, TOTAL is expanding its prominent activities in renewable energies and power generation. We are a major integrated solar operator with Sunpower and TOTAL Solar. TOTAL is employees from more than 150 nationalities, 30% of which are women. Our employees are our strength. TOTAL is 4 million customers a day in our service stations and over 1 Billion $ invested annually in research. TOTAL aims to be the responsible energy major by helping to supply accessible, affordable, and clean energy to as many people as possible. We focus on ensuring that our operations worldwide consistently deliver economic, social and environmental benefits. Energy is Total's history. It was our past, it is our present and it will be our future. Philippe Sauquet, Directeur Strategy-Innovation Assemblée Générale de l'ATEE, le 15 juin 2017

2 Our challenges for the next 20 yearsMeeting the energy needs of a burgeoning world population Anticipating and meeting changes in customer expectations and their relationship with energy Integrating climate change into our strategy Our world is changing mainly for the better: globalization has helped to lift millions of people in Emerging Countries out of poverty and out of starvation. Education and health levels have improved. Those changes have required energy; energy to fuel manufacturing industries, to fuel transport, to generate electricity, to light, to heat, to cook, etc…. The needs are still enormous, with a population growing from 7 today to 9 Billion in 2040, today 1.3 Billion have no access to energy, 2 have no access to electricity. At the same time, environmental stresses have increased, including the air that we breathe, and greenhouse gas emissions impacting the climate. For Total, energy is our history, our ambition is to be the responsible energy major. Worldwide, we intend to bring our customers, safe, reliable, affordable and clean energy, In more detail, this leads us to : Producing, processing, and supplying affordable energy while meeting the highest safety & environmental standards. Supplying a responsible energy mix. In other words, an energy mix consistent with the objective of limiting the rise in the world’s temperature to just 2°C in 2100. Providing solutions to help our customers use energy responsibly, in-line with their expectations. And acting locally, to provide quality and convenient services for our customers. The challenge of meeting our ambition lies in today’s rapidly evolving technologies, energy markets, and customer needs. Source: IEA CO2 emissions from fuel combustion 2016 STI - GROUP STRATEGY – May 2017 2

3 to become the responsible energy majorOur ambition: to become the responsible energy major Produce, process and supply affordable energy while meeting the highest HSE standards Introduce solutions that promote responsible energy use by our customers Supply a responsible energy mix consistent with the IEA’s 2°C scenario Be recognized for our convenient, quality local service Supplying energy will be an even greater responsibility in the future. Total's ambition for the next 20 years is to be a world-class energy company. A company that contributes to the development of growing populations by providing them with affordable energy. A company that is helping to address the challenge of climate change. A company that knows how to keep up with its customers’ changing needs. Total's commitment is to provide people with the energy they need by: Producing, processing and distributing energy at an affordable cost while meeting the highest standards of safety and environmental stewardship. Supplying a responsible energy mix of steadily decreasing carbon intensity, meeting the requirements of the 2° C scenario. Providing customers with solutions that enable them to use energy responsibly. Being recognized for the quality of its close-to-the-customer service. Total's ambition is to become the responsible energy major. That's what it means to be "Committed to Better Energy." STI - GROUP STRATEGY – May 2017 3

4 Group strategy: fundamentalsSafety, a core value: targeting zero fatalities Building on our strengths: leveraging our integrated business model TOTAL is an energy company, integrated from production to distribution for oil, gas, biofuels, and solar power. Because risks are inherent in what we do, we put safety at the top of our list of values. We spare no effort to reduce accidents at our facilities and manage our industrial risks effectively. Our goal is to become an industry benchmark for safety, the only way to build lasting trust. Zero fatalities! Our large oil and gas business provides a strong capital base, business activities in over 130 countries around the world, and a large network of customers. TOTAL’s strategy focuses on leveraging this integrated model to strongly position the Group for its medium-term development, particularly in renewable energies and low carbon businesses. Leveraging our current model also implies: Lowering upstream breakeven costs by adding low cost E&P assets, while reducing exposure to high cost assets Focusing on being best-in-class in the downstream refining business Continuing to grow our Marketing & Services activities which ensure brand awareness and provide customer exposure And capitalizing on our existing customer-focused culture STI - GROUP STRATEGY – May 2017 4

5 Gradually decreasing the carbon intensity of our production mixGroup strategy integrating 2°C roadmap Strategy in line with anticipated market trends: Focusing on low breakeven Oil projects Expanding along the Gas value chain Growing profitable low carbon business Integrating the climate into our strategy: At the heart of our long-term strategy, TOTAL aims to supply an energy mix consistent with the objective of limiting a rise in the world’s temperature to just 2°C in 2100. In particular, this means reducing CO2 emissions. To do this, we must: Use the fossil fuels that are the least-carbon-rich energies, Increase our energy efficiency, ... and, increase the use of renewable energies. TOTAL’s strategy addresses all these requirements: We have exited the coal business and we are prioritizing gas projects to reduce the carbon intensity of the energies we produce. We aim to have >60% gas in our hydrocarbon production mix in 20 years’ time. We are developing low carbon businesses with the ambitious goal of of growing them to 20% of our portfolio in The businesses include: Carbon capture usage and storage Improving energy efficiency. Here, TOTAL is promoting responsible energy use in our operations and by our customers. We aim to improve the energy efficiency of our installations by 1% per year on average from 2010 to 2020. Growing renewable energy activity, mainly in solar with Sunpower and Total Solar. And focussing on battery storage of electricity through Saft. At the same time, in order to maintain the long-term strength and competitiveness of our integrated oil and gas business, we are focusing on upstream oil & gas projects with low breakeven costs. Gradually decreasing the carbon intensity of our production mix STI - GROUP STRATEGY – May 2017 5

6 Tackling short term challenges(Mbd) Safety, our core value Delivery Project execution to deliver an average production growth of +5% per year Cost discipline Saving 4 G$ Opex by 2018 Sustainable Capex level: G$/y ( ) Cash Increase cash flow from operations: Downstream: aiming for sustainable contribution of 7 G$/year. Upstream: adding >7 G$ from new start-ups in 2020. In a context marked by falling oil & gas prices, Total must adapt in the short term, while keeping a clear vision of the objectives ahead in the medium-to-long term. TOTAL is focussed on cash generation, operational excellence and project delivery. By making safety a core value for the Group, our goal is to become an industry benchmark, building performance and building lasting trust. Delivering our projects on-time and on-budget is a Group priority. We aim to achieve average annular growth in upstream production of +5% per year from 2014 to 2020. TOTAL aims to be the champion of low-cost oil. This includes not only finding and developing low cost resources, but also imposing strict cost discipline within the Group. We aim to achieve OPEX savings of 4 Billion $ per year between 2015 and 2018 and to reduce CAPEX to a sustainable level of Billion $ per year for the period , compatible with delivering planned projects. Delivering TOTAL’s projects and cost discipline will reinforce cash flows In the short term, our results compare favorably with those of our peers, making us confident in our strategy and confirming our capacity to be resilient. Focusing on cash generation Operational excellence and project delivery STI - GROUP STRATEGY – May 2017 6

7 E&P resilient and profitable in a volatile environmentExploration & Production Strategy and business objectives Affordable: Upgrade portfolio: relentlessly reduce Opex, limit FID to 1st and 2nd quartile assets, fix or divest 4th quartile assets. Invest with discipline: be selective, develop good enough designs, focus on cash and lower capital employed, deliver projects on time and within budgets. Reliable: Grow production at market pace: renew reserves, build on technological and geographical strengths, develop new areas. Extract maximum value from assets: raise production efficiency, maximize recovery, leverage technical expertise. Clean: Lower environmental footprint: reduce emissions, improve energy efficiency, integrate a CO2 price in project sanctions, install renewables on sites. Promote energy with low carbon emissions: be a leader in the fast growing gas markets, get proactive access to gas resources, develop CCUS. The E&P mission is to discover and develop oil & gas to meet growing energy demand. Safety is a core value for that mission. Given oil & gas price volatility, TOTAL’s E&P strategy aims to develop oil & gas production that is resilient to long periods of low prices, remaining profitable and sustainable. Our E&P strategy is based on 3 main levers: Affordability: E&P aims to maximize its asset value through operational excellence, investment discipline, selectivity in new projects, and restructuring or selling its least performing assets. We limit our FIDs to 1st and 2nd quartile assets, and fix or divest 4th quartile assets. For example, TOTAL has added low breakeven oil projects in Qatar (Al-Shaheen) and the UAE (ADCO); we are developing low cost oil in Brazil (Libra); and we are divesting 10% of Fort Hills in Canada’s oil sands. Cost discipline is being achieved by project selectivity, developing good-enough designs, focusing on cash, and lowering capital employed. Reliability or Operational Excellence: To ensure its resilience, E&P continues to cut operating costs, improve efficiency, and deliver projects on time and on budget while minimizing the environmental impact of its activities. Reserves must allow TOTAL to grow supply at the pace of the market. Sustaining reserves means both exploring and accessing already discovered resources, while building E&Ps competitive advantages in terms of geographical spread and technical skills. Clean: TOTAL is reducing its environmental footprint by cutting emissions, improving energy efficiency, integrating a CO2 price into project sanctions, installing renewables on sites. TOTAL is promoting low carbon intensity energies as a leader in the fast growing gas market and by developing CCUS. E&P resilient and profitable in a volatile environment STI - GROUP STRATEGY – May 2017 7

8 Develop profitable low carbon businessesGas, Renewables & Power Strategy and business objectives Develop Downstream Integration in Gas value chain: Open up new LNG markets Broaden Gas and Electricity B2B/B2C portfolio Develop Integration in Solar chain: SunPower: Upstream + North America Downstream / Distributed Generation Total Solar: Solar farms + Africa/Asia Distributed Generation Develop Energy Storage: Saft profitable specialties Energy Storage Solutions (ESS) Make Customers the Core Focus of our Activities: Anticipate customer needs and design new packaged commercial offers Energy efficiency as a service Open innovation through Total Energy Ventures (TEV) Gas is a low-carbon fossil fuel, easy to transport when liquefied, and a good match for renewable energies, mitigating their variability when no sun or wind is available. Developing gas is a priority for Total. We produce as much gas as oil. Currently, we are the world’s third-largest private-sector liquefied natural gas or LNG operator. Our CAPEX program will lift LNG to 20% of TOTAL’s oil and gas production by 2020. TOTAL is already integrated across the gas value chain, from production to marketing. This includes interests in 11 liquefaction plants and reserved regasification capacity in five terminals worldwide. Our objective is to develop downstream integration in the gas value chain by opening up new LNG markets and by broadening our Gas and Electricity B2B / B2C portfolio. In solar power, TOTAL is innovating to maintain its leadership and be competitive through two affiliates: SunPower for Upstream + North America Downstream / Distributed Generation Total Solar for Solar farms + Distributed Generation in Africa/Asia TOTAL is also developing energy storage via two strategies: Through the recent acquisition of Saft we are developing profitable specialties. Through the development of Energy Storage Systems (or ESS) Finally, customers remain the focus of our activity. TOTAL endeavours to anticipate the needs of its customers, designing new products & services for them. In particular: TOTAL offers energy efficiency as a service. We develop eco-efficient products and services in the transportation and building sectors. Total’s Ecosolutions program offers over 80 products & services outperforming market standards. TOTAL Energy Ventures (TEV) is helping drive innovation in new products. Develop profitable low carbon businesses 1 G$ CFFO by 2020 STI - GROUP STRATEGY – May 2017 8

9 SAFT’s position in the battery marketINDUSTRY A Group with recognised expertise ~100 YEARS OF HISTORY Standard industrial applications 80% lead-acid LEADERSHIP POSITION ON 75-80% OF REVENUE BASE CONSUMER REVENUE OF €738 MILLION IN 2016 High volumes Alkaline Lithium-ion Carbon-zinc $125bn Worldwide market High-tech storage in a variety of sectors (% OF 2016 REVENUES) Civil Electronics : 36% Transportation, Telecom & Grid : 32% Industrial Stand-by : 21% Space & Defense : 11% AUTOMOTIVE High volumes 80% lead-acid Lithium-ion emerging SAFT est un leader technologique sur les batteries spécialisées Le stockage d’énergie va favoriser l’accélération du déploiement des énergies renouvelables. C’est une formidable opportunité . L’urbanisation croissante augmentera le besoin de stockage d’énergie. SAFT a 100 ans d’histoire, est leader sur trois technologies de batteries telles que le nickel et le plomb, mais possède aussi le lithium-ion. C’est un chiffre d’affaires d’un peu moins de 1Md $. Saft investit environ 9 % de ce chiffre d’affaires en R&D orientée hautes technologies. Il est positionné: plutôt sur des niches liées à l’industrie, à l’aviation, à la défense, à l’espace, aux transports n’est que faiblement positionnée sur ce que nous appelons le « stockage d’électricité pour les réseaux électriques ». Cela s’appelle Energy Storage System, les solutions de stockage d’énergie pour les réseaux. Cette activité ne représente, selon les études dont nous disposons, qu’environ 1 % du marché des batteries aujourd’hui. C’est un marché qui pourrait croître pour passer de 1 % du marché des batteries aujourd’hui à 10 % en 10 ans. SAFT est bien positionnée en tant que leader technologique pour aller sur ce marché. Ce serait complémentaire à notre stratégie dans les réseaux électriques par ailleurs. SAFT est aussi très complémentaire de nos énergies renouvelables. Saft n’est pas positionné sur la technologie classique de battries en plomb (high volumes/low margins), mais plutôt sur le marché de batteries - Li-Ion qui fait 20% de pdm aujourd’hui et pourrait passer à 30% d’ici 2025. High performance and customized applications Nickel-cadmium Lithium Lithium-ion Silver SAFT PRESENCE IN INDUSTRY & MOBILITY Saft: energy storage is key to growing a profitable renewables business 9

10 Energy Efficiency Solutions for optimising energy usageInnovative and tailored solutions Consulting in energy performance Allow industrial and tertiary-sector clients to improve productivity Average reduction of 2 to 15% in energy consumption Energy bill savings of up to 30%. At Total we are implementing efficiency improvements while constantly exploring avenues to further help our clients improve their energy efficiency. Improving energy efficiency helps secure access to energy and cut costs for consumers. It also plays a key role in pursuing climate policy objectives, both at the individual and collective level. Today, energy efficiency has its own market; a (very) fast-developing market where more than 200 bn$ are now invested annually (or roughly 15% of world energy system capital expenditures). Total can play a significant role in this market. We are already working to improve energy efficiency at our own sites and through the products and services we offer our customers. In early 2016, TOTAL set a new target of improving our energy efficiency by an average 1% per year from 2010 to Since 2010, our energy efficiency has improved by nearly 9%. We have developed a comprehensive array of services to help our customers manage their energy use more effectively, including services and digital solutions. TOTAL’s affiliates specializing in energy efficiency include BHC Energy in France and TENAG in Germany. They offer services and solutions that include energy audits, leading energy efficiency investment projects, installing smart energy systems to manage and reduce consumption, and leveraging demand response capacity. In addition, energy management requires improving product quality. TOTAL’s range of Excellium fuels keeps engines cleaner, reducing their air pollutant and carbon emissions (thereby reducing both energy and carbon/particulate intensity). The entire lineup has been awarded the Total Ecosolutions label. Our Fuel Economy lubricant range improves fuel efficiency by decreasing friction between engine parts. As the IEA rightly states it, “energy efficiency is the only energy resource possessed by all countries”.

11 Strategy and business objectivesRefining & Chemicals Strategy and business objectives Industrial competitiveness: Optimize our production base (availability, energy efficiency, costs). Focus our investments on our major integrated platforms. Expansion in petrochemicals: Leverage cost-advantaged feedstock. Target high-growth markets (Asia, US). Innovation in low carbon: Drive Bio-based solutions (biofuels, polymers) Promote energy efficiency of our customers (lightweight materials). The volume of its Refining and Chemicals activities places TOTAL among the top ten integrated producers in the world covering refining, petrochemicals, and specialty chemical businesses. TOTAL’s strategy aims to continue leveraging the competitiveness of our major integrated refining and petrochemical platforms. These include Satorp in Saudi Arabia and Daesan in South-Korea. Safety is preeminent in our strategy, as is the priority given to respect for the environment. Improving industrial competitiveness means: Optimizing TOTAL’s production base to ensure maximum availability, to boost energy efficiency, and to cut costs. Focusing our investments on our major integrated platforms worldwide, including in Europe Expanding in petrochemicals means: Leveraging TOTAL’s use of cost-advantaged feedstocks, notably in the North America and the Middle East Targeting high-growth markets in Asia and the US with strong value-added products. Innovating in low carbon solutions and products means: Developing bio-based solutions including biofuels and polymers Developing materials and solutions that contribute to the energy efficiency of our customers (lightweight materials) notably in the automotive sector. A safe, innovative and efficient R&C Redeploying towards growing markets STI - GROUP STRATEGY – May 2017 11

12 Delivering more than 2G$ CFFOMarketing & Services Strategy and business objectives Profitable growth Differentiate through customer proximity and by promoting responsible energy consumption. Retail: continuing the transformation of our stations into One Stop Shops – community hubs at the service of mobility and transport, consolidating our positions in Western Europe (E5) and Africa. Lubricants: 5% market share, World #3 in 2021 B2B (fuels and specialties): becoming the reference proximity partner TOTAL’s worldwide Marketing & Services business is present in over 130 countries and has over branded service stations worldwide. It has historically been among one of Europe’s largest marketers and is today a leading African marketer. MS is committed to providing environmentally responsible solutions. It increased R&D to develop new product ranges, notably for the engine technologies of the future. TOTAL’s strategy aims to sustain dynamic growth and profitability in its Marketing & Services business. Its strategy focuses on continuing to be differentiated in the market by our customer proximity, our products and by promoting responsible energy consumption: In Retail we continue the transformation of our service stations into One-Stop-Shops, becoming community hubs at the service of mobility and transport. We are consolidating our positions in Western Europe and Africa, and aim to have around service stations world wide in 2021 In Lubricants, TOTAL holds a 5% worldwide market share. With 41 blending plants globally, a research center, and commercial-technological partnerships with European and Asian car manufacturers, MS is well positioned to meet our customer needs. Our objective is to become the World’s number 3 Lubricants supplier in 2021. In B2B fuels and specialties, MS has become a partner of choice. TOTAL is a local supplier for bulk fuels, aviation fuel, specialty fluids, LPG, bitumen, heavy fuels, and marine bunkers. We help our customers manager all their energy needs with services such as on-site maintenance and the optimization of consumption. TOTAL will remain the brand of choice, close to its customers, creating value for each of them. Being a brand of choice, close to and creating value for each and every customer. Delivering more than 2G$ CFFO STI - GROUP STRATEGY – May 2017 12

13 Conclusion: The Responsible Energy Major Committed to Better EnergyTotal is the world’s 4th-ranked international oil and gas company* and a global leader in solar energy through our affiliates SunPower and Total Solar. WITH OPERATIONS IN MORE THAN 130 COUNTRIES we have 98,000 employees who are COMMITTED TO BETTER ENERGY To providing affordable, reliable, clean energy * Based on market capitalization in U.S. dollars at December 31, 2016 Total in Brief 2017

14 THANK YOU STI - GROUP STRATEGY – May 2017

15 APPENDICES STI - GROUP STRATEGY – May 2017 15

16 Demand in the New Policies scenarioDemand growth sustained at +1.1% CAGR until 2035 Fossil fuels demand up by +31 Mboe/d, accounting for 50% of energy growth Rise of global temperature expected to be 3.5°C (source: IEA , World Energy Outlook, 2016) STI - GROUP STRATEGY – May 2017 16

17 Creating an Energy Mix that Meets the 2°C Target2°C Scenario Renewables soar from 15% to 27% by 2035, in particular « new renewables » (solar, wind…), from 2% to >9% for Demand growth limited to +0.3% CAGR until 2035 Fossil energy mix changing Coal down from 28% in 2016 to 16% in 2035 Oil decreasing from 31% to 25% Gas increasing from 21% to 23% (source: IEA , World Energy Outlook, 2016) STI - GROUP STRATEGY – May 2017 17

18 Gas and Renewables are Key for Power Generation2°C Scenario Coal down from 46% in 2016 to 17% by 2035 Gas to remain around 20% New renewables (solar, wind…) increase over the same periode from 4% to 20% (source: IEA , World Energy Outlook, 2016) STI - GROUP STRATEGY – May 2017 18

19 responsible energy useIntegration of climate into our strategy leading to business objectives Improving the Carbon Intensity of Our Production Mix Developing Renewable Energies Improving Energy Efficiency ~60%gas in our hydrocarbon production mix in 20 years’ time 20% low-carbon businesses in 20 years' time Promote responsible energy use in our operations and by our customers STI - GROUP STRATEGY – May 2017 19