Total : The mobility revolution

The mobility revolution

Energy mix revolution in transport

Global energy demand in transport

Mboe/d

70

Electricity

Hydrogen

Natural gas

E-fuels

Biofuels

Oil

2018	2030	2030	2050	2050
	Momentum*Ru pture*	Momentum*Ru pture*

Electrification, biofuels and gases key to decarbonize transport

* Scenarios Total Energy Outlook (Sep. 2020)

Acceleration of energy mix change

Strong growth of traffic: increase in final energy demand offset by gains in vehicle efficiency

Oil demand drastic reduction by 2050:

• Electrification and switch to biofuels, gas and hydrogen for road transportation
• Increase of Sustainable Liquid Fuels for aviation
• Switch to gases for shipping

The mobility revolution |

1

A worldwide ambition in biofuels

Growing contribution of biofuels to decarbonize transport

Biofuels world consumption*

Mboe/d

8

Rupture scenario

4

Momentum scenario

Biofuels demand growing 2x by 2030, up to 4x by 2050 depending on scenarios

Biofuels reduce CO2 emissions more than 50% vs. fossil fuels

Growth driven by States CO2 emission reduction targets

2019 2030 2050

* Reference: Total Energy Outlook 2020

A worldwide ambition in biofuels |

1

Developing leading positions in biofuels

Renewable diesel producer		Biofuels retailer

A worldwide ambition in biofuels |

2

Growing biofuels in our sales mix

Biofuel sales

kboe/d

300

Rest of the world

150

Europe

2019 2025 2030

Biofuels representing 10 to 15% of fuel sales by 2030

• Largest biofuel retailer in Europe
• Actively promoting E85 in France
• Expanding biofuels retail in Brazil

A worldwide ambition in biofuels |

3

Attractiverenewable diesel market

Biofuels world consumption*

Mboe/d

4

Renewable diesel (HVO)

Biodiesel (FAME)

2

Biogasoline

2019 2025 2030

Biogasoline/biodiesel are low margin markets

• Technical cap limiting incorporation potential
• Low entry barrier (Capex, technology)
• Oversupply

Renewable diesel is the fastest

growing biofuel market > 10%/y

• Drop-insolution: no limit for incorporation
• Certified as aviation fuel

* Total Energy Outlook Momentum case

A worldwide ambition in biofuels |

4

Decarbonizing air transport offers new opportunities for sustainable liquid fuels

1 Gt	50%	x2
CO2 emissions	voluntary CO2 emissions	fleet in operations
in 2019	reduction by 20501	over next 20 years

1 Source IATA, vs. 2005

Airlines are making commitments to CO2 emission reduction

Liquid fuels hard to substitute for long haul flights

Renewable diesel is the only available solution to reduce CO2 emissions

First regulatory mandates in Europe:

• Norway 0.5% in 2020
• France 2% in 2025, 5% in 2030
• Europe to come

A worldwide ambition in biofuels |

5

Anticipating tight renewable diesel market

Renewable diesel supply and demand

Mt/y

20

Demand growth

> 10%/yTo be sanctioned

10	Sanctioned

Existing Supply

2019 2025 2030

Strong call for increasing capacities

Supply growth constrained

• Refinery retrofit (3-4 years)
• Limited greenfield projects

Limited number of projects in Europe

A worldwide ambition in biofuels |

6

Becoming a leader in renewable diesel

Capturing synergies with existing assets

Renewable diesel production

Mt/y

Converting

existing assets

La Mède: 500 kt/y

Zero oil platform,

400 kt/y bio-refinery in Grandpuits, start-up 2024

600-750 $/t Capex

Co-processing

300 kt/y in Europe, starting-up over 2022-24

Evaluating project in Port Arthur refinery in US

~500 $/t Capex

Developing on

existing platforms

Evaluating 500 kt/y project on Daesan integrated platform in South Korea

~750 $/t Capex

1. 0

1. 5

Low Capex vs. greenfield development (> 1,000 $/t)

Designing assets to allow feedstock flexibility

2020 2025 2030

CFFO 2019-20 : 350 $/t

A worldwide ambition in biofuels |

7

Securing feedstock access

1G - Vegetable Oils

Palm, rapeseed,

soybean, sunflower

Largely available Biofuels share ~15%

Palm oil phase-out in EU

~180 Mt

Waste and Residue

Animal fat, UCO*,

TCO*, tall oil

Collection rate to increase

Biofuels share ~45%

Growing demand Bio-jet,specific tax incentives

~25 Mt

Advanced

Lignocellulosics,

Municipal solid waste

Scattered with no

organized collection and supply chain

Technologies at

pilot stage

Post-2030

8 different feedstocks processed at La Mède

Only processing sustainable feedstocks (ISCC certified)

Production units designed to process all types of feedstocks

• Pre-treatment
• Logistics

Leveraging trading expertise

Growing share of waste and residue

* UCO: Used Cooking Oil, TCO: Technical Corn Oil

A worldwide ambition in biofuels |

8

La Mède: a first step, up and running

Renewable diesel Capex

$/t - Total La Mède vs peers greenfield*

1, 500

Max

1, 000

Min

500

Peers

2020 CFFO > 350 $/t

* Neste Singapore and Rotterdam greenfields and expansions, Valero Saint Charles

First 500 kt/y bio-refineryin France

Retrofit of loss-making refinery enabling competitive Capex (600 $/t) vs greenfield projects

Designed to process all types of feedstocks (vegetable oils, waste and residue)

Ramp-up phase: ~300 kt in 2020

A worldwide ambition in biofuels |

9

Grandpuits refinery transitioning to zero oil platform

Renewable diesel

Bio-refinery processing 400 kt/y

• 70% waste & residue of which half secured
• ~200 kt/y biojet
• Capex 750 $/t

Starting up in 2024

Biopolymers

100 kt/y bioplastic unit

Expanding partnership with Corbion (JV 50/50) after first plant in Thailand in 2018

Starting up in 2024

Plastic recycling

1st chemical recycling unit in France: 15 kt/y capacity

JV 60/40 Total - Plastic Energy

Upscaling proven pyrolysis technology

Starting up in 2023

Renewables

Solar farms ~50 MW

Starting up in 2022

Investing > 500 M$ in low carbon businesses, IRR > 15%

A worldwide ambition in biofuels | 10

Total ambition in biofuels: a leading producer and marketer

Renewable diesel production	Biofuel sales
	kboe/d
Mt/y	kboe/d
5. 0	300
	100

Biogasoline

Biodiesel (FAME)

2. 5	50	150

Renewable

Diesel (HVO)

2020 2025 20302019 2025 2030

CFFO 2019-20: 350

$/t

10 to 15% of fuel sales by 2030

A worldwide ambition in biofuels | 11

Engagingin the electric mobility revolution

Electric mobility: the future of mobility on the rise

Electric-vehicle share in worldwide fleet

%

80%

60%

40%

20%

2020 2025 2030 2035 2040 2045 2050

Momentum Rupture

Source: Total Energy Outlook 2020 - Momentum and Rupture Scenarios

Electric-vehicle adoption in Western Europe1

Million vehicles

100
50
2020	2025	2030	2050
			Momentum
			Green Deal

	Non-EV vehicles		EV and HEV vehicles

1 E5: France, Germany, Belgium, Netherlands and Luxemburg Source: Total Energy Outlook 2020 - Momentum Scenario

Engaging in the electric mobility revolution |

1

EV market drivers

Low emission regulations

EU/China/US: CO2 emission reduction targets

Countries: Internal

Combustion Engine bans

Cities: Zero & Ultra Low Emission Zones in major cities

Car manufacturers

investing massively in EV

60 B$ E-mobility investments announced in 2019 by car-makers in Europe.

Source: Transport and Environment May 2020 report

Increased performance and
lower cost battery solutions
Battery pack cost evolution
$/kWh
400
300
200
100
2015	2018	2020	2025
Source: SAFT

Strong acceleration of the EV sector

Engaging in the electric mobility revolution |

2

Developing top tier positions in Electric mobility value chain

Battery manufacturing		EV charging

Engaging in the electric mobility revolution |

3

Growing e-mobility business in China

SAFT (40%) - TIANNENG (60%) Joint Venture

• Created in 2019 with Tianneng, leading lead acid battery manufacturer in China
• • Saft contributing Li-ion batteries technology
  • Tianneng contributing highly-competitive mass production capacity
• China leader for batteries for 2-wheele-mobility
• Production capacity to increase to 5.5 GWh by 2025

Increasing our footprint in the Chinese Li-ion market, representing over 40% of global demand by 2025

Engaging in the electric mobility revolution |

4

Investing in EV battery manufacturing in Europe

ACC (Automotive Cells Company)

Total/Saft (50%) and Groupe PSA/Opel (50%)

• Saft contributing cutting-edge R&D
• PSA/Opel contributing mass manufacturing experience

Phased project

• Pilot plant in SAFT factory starting in 2020
• FID for first Gigafactory end-2021
• Industrial production in two Gigafactories (France and Germany)

5 B€ project Capex over 10 years with project financing

• Total equity injection: 500 M€, ~10% equity IRR
• 1.3 B€ subsidies from France and Germany approved as IPCEI by European institutions

48 GWh capacity (1 M EVs) in 2030

~10% European market

Engaging in the electric mobility revolution |

5

EV challenge: market shift toward multi-channel distribution model

Fuels

Service Stations

100%

Electromobility in Europe

@ Home

@ Work

@ Public

@ Service Stations

~40%

~40%

~15%

~5%

Reinventing customer relationship

Engaging in the electric mobility revolution |

6

Selectively capturing value along the chain

Energy			Charge Point Operator			Mobility Service
Producer			B2B/B2G/Retail			Provider
Energy				Operation &	Energy sale &		Access to other
	CP Hardware	Installation		3rd party Charge
supply		Maintenance	Charging Services
				Points

Engaging in the electric mobility revolution |

7

Unlocking the EV rise in Western Europe

> 1.2 M B2G/B2B charge points expected by 2025

E-mobility key urban nodes and corridors in Europe

Strategy in Western Europe

Priority to urban markets

• Taking positions for public concessions in large cities

• Installing fast-chargers in major urban areas in > 200 service-stations

Main corridors

• Paving main road-corridors with super-fast chargers

in 300 service-stations

Source: Trans-European Transport Network (TEN-T) guidelines, Total analysis

Engaging in the electric mobility revolution |

8

B2G: trusted partner of major cities

> 12,000 charge points in operation at end-2020

B2G charge points

Amsterdam (MRA)

• 5,000 operated charge points over 4 concessions (last award in 2019). Up to 20,000 by 2024
• Dense urban area with limited individual parking: high utilization rate
• Equity IRR > 15%

London

• Acquisition of BluePoint London, leader of EV charge in London area (~50% market share)
• 1,600 operated charge points. Up to 4,000 by 2025
• Long-termcontracts with 23 boroughs

50,000

In

portfolio

2020 2025

Building on recent successes

to reach 50,000 operated charge points by 2025

Engaging in the electric mobility revolution |

9

Service-stations: offering proximity to EV customers

Urban nodes / charging hubs

Targeting ride hailing & taxi

Dedicated charging hubs to address B2B needs 200 additional sites in Western Europe by 2025

Stations and hubs covering major cities in Western Europe

High Power Charging on highways

100 km autonomy in 6 min charge

High level of convenience services at our service stations

300 HPC sites in Western Europe by 2022

One HPC every 150 km

in Western Europe

Targeting 1,500 fast and super-fast chargers in 500 sites by 2025

Investing 200 M$ with ~10% Equity IRR

Engaging in the electric mobility revolution | 10

Serving our 1M B2B clients in their transition to cleaner mobility

Priority to corporate customers holding 3M TotalFleet cards

Fleet		Host		OEMs

Enedis	PSA industrial sites	OEM dealers (Europe)
•	~1,250 charge points	•	175 charge points	•	500 dealer sites
•	155 sites	•	14 sites	•	2,500 installed
			in 6 countries		charge points

B2B fleet conversion to EV supported by:

• National legislation alignment with Paris agreement
• Corporate Net Zero ambitions
• Low emission zones in urban areas

1 M charge points potential in Europe by 2025

Targeting > 100,000 charge points by 2025

Engaging in the electric mobility revolution | 11

Becoming a major E-mobility player in Europe

Preparing the future with a capital light model

Operated charge points

150, 000

x8

18,000	Already
	in portfolio
2020	2025

Additional CFFO ~50 M$/y by 2025,

growing to ~100 M$/y by 2030 with higher utilization rate

Over 2020-25

• ~300 M$ capital investments
• ~300 M$ assets under leasing

500 GWh delivered through

150,000 operated charge points by 2025

Targeting ~10% market share in B2G/B2B in Western Europe

Engaging in the electric mobility revolution | 12

And more to come in China

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