France: Approved Wage Agreement for 2024, TotalEnergies Shares the Value With Its Employees Through a Global Envelope of 5% and a Bonus of at Least € 2,000

PARIS--(BUSINESS WIRE)-- 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed with the CFE-CGC, CFDT and CAT trade unions a majority-approved (71%) wage agreement for 2024 applicable to employees covered by the Common Corpus of Employee Relations Agreements (SSC) i.e., around 14,000 employees in France.

In particular, the agreement calls for:

• A 5% salary increase for 2024 (of which 2% already implemented since July 2023).

• A Value Sharing Bonus (PPV) equivalent to 75% of one month's salary. This bonus, floored at €2,000 and capped at €4,000, will be paid before the end of 2023.

"With this agreement, TotalEnergies is ensuring that the Company's excellent results are shared with its employees. These new salary measures follow the collective agreement, signed last month in France, on supporting our employees in their own energy transition through an envelope of € 2,000 gross per employee, dedicated to their mobility or housing." said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.

TotalEnergies recommended that each affiliate in the world in which TotalEnergies’ stake is greater than 50% enters into a dialogue with its employees and their representative organizations in order to offer their employees a bonus equivalent to 75% of one month's salary.

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About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, more sustainable, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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Cautionary Note
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