Expert Corporate Governance Service (ECGS)
EUR 500.00 For Business Accounts Only

Total - AGM 29 May 2019

ITEM 10: The Company’s disclosure allows for a perfect understanding of amounts
granted. However, these amounts are too generous (€5.8 M, i.e. 278 times the French
minimum wage and 124% of the CAC 40 median) and ECGS considers a 80%-vesting
when reaching the median is excessive.

ITEM 11: In terms of structure and amounts, this remuneration policy does not respect
our Guidelines; however, this issue could be sanctioned if needed in 2020 when
shareholders vote on the implementation of this remuneration policy (ex-post vote in
2020 on 2019 remunerations). The changes proposed, especially the addition of a very
detailed quantitative environmental criterion is a very positive gesture, especially
considering the Company’s sector. Thus, this 2019 remuneration policy is better than the
previous one.

Total S.A.


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