Total : Third Quarter 2020 Results -13-

Revenues from sales                 132,938   (74)            132,864 
 
Purchases net of inventory 
 variation                          (88,338)  329             (88,009) 
Other operating expenses            (19,998)  (167)           (20,165) 
Exploration costs                   (554)     -               (554) 
Depreciation, depletion and 
 impairment of tangible assets and 
 mineral interests                  (11,050)  (250)           (11,300) 
Other income                        620       115             735 
Other expense                       (322)     (635)           (957) 
 
Financial interest on debt          (1,715)   (12)            (1,727) 
Financial income and expense from 
 cash & cash equivalents            (70)      -               (70) 
Cost of net debt                    (1,785)   (12)            (1,797) 
 
Other financial income              649       -               649 
Other financial expense             (561)     -               (561) 
 
Net income (loss) from equity 
 affiliates                         1,592     1,312           2,904 
 
Income taxes                        (4,334)   (686)           (5,020) 
Consolidated net income             8,857     (68)            8,789 
Group share                         8,663     4               8,667 
Non-controlling interests           194       (72)            122 
 
(a) Adjustments include special items, inventory valuation effect and the 
effect of changes in fair value. 
 

(1) Definition page 3.

(2) Excluding leases.

(3) Certain transactions referred to in the highlights are subject to approval by authorities or to other conditions as per the agreements.

(4) Adjusted results are defined as income using replacement cost, adjusted for special items, excluding the impact of changes for fair value; adjustment items are on page 13.

(5) Group effective tax rate = (tax on adjusted net operating income) / (adjusted net operating income -- income from equity affiliates -- dividends received from investments -- impairment of goodwill + tax on adjusted net operating income).

(6) In accordance with IFRS rules, adjusted fully-diluted earnings per share is calculated from the adjusted net income less the interest on the perpetual subordinated bond

(7) Organic investments = net investments excluding acquisitions, asset sales and other operations with non-controlling interests.

(8) Net acquisitions = acquisitions -- assets sales -- other transactions with non-controlling interests (see page 13).

(9) Net investments = organic investments + net acquisitions (see page 13).

(10) Operating cash flow before working capital changes, is defined as cash flow from operating activities before changes in working capital at replacement cost, excluding the mark-to-market effect of iGRP's contracts and including capital gain from renewable projects sale (effective first quarter 2020).

The inventory valuation effect is explained on page 15. The reconciliation table for different cash flow figures is on page 13.

(11) DACF = debt adjusted cash flow, is defined as operating cash flow before working capital changes and financial charges.

(12) Adjustment items shown on page 15.

(13) Details shown on page 13 and in the appendix to the financial statements.

(14) Net cash flow = operating cash flow before working capital changes - net investments (including other transactions with non-controlling interests).

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