TotalEnergies (PARIS:TTE) (LSE:TTE) (NYSE:TTE) announces the completion of the acquisition agreed on 16 November 2025 of 50% of EPH's flexible power generation platform in Western Europe. Approved by all competent authorities and by the Boards of Directors of both TotalEnergies and EPH, this transaction leads to the creation of TTEP, the 2^nd largest flexgen player in Europe, headquartered in Amsterdam.

The company, TTEP, owns and operates, through its subsidiaries, flexible natural gas and biomass-based power plants and BESS assets across Italy, the United Kingdom, Ireland, the Netherlands and France, for a total capacity of 14 GW installed or in construction. Its production reached close to 30 TWh of electricity in 2025.

TotalEnergies and EPH have agreed on tolling contracts with TTEP, allowing both partners to market their own share of production. Furthermore, TTEP has a 5 GW projects portfolio and will serve as the preferred investment vehicle for both shareholders to develop their flexible power generation activities and large-scale battery storage solutions across the five countries concerned.

The transaction becomes effective on April 29, 2026. Pursuant to the powers delegated to it by the Shareholders' Meeting of May 24, 2024, the TotalEnergies SE Board of Directors has approved the issuance of around 95.4 million shares to EPH, representing approximately 4.2% of TotalEnergies' share capital, making EPH one of the Company's main shareholders.

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About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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Important Note

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Europe: TotalEnergies Finalizes the Acquisition of 50% of a Portfolio of Flexible Power Generation Assets From EPH