Total: Fourth Quarter 2009 Adjusted Net Income of 2.1 Billion Euros - Full-Year 2009 Adjusted Net Income of 7.8 Billion Euros - Proposed 2009 Dividend of 2.28 Euros Per Share

Regulatory News:

Main results^1-2

-- Fourth quarter adjusted net income3				2.1 billion euros				-28%
				3.1 billion dollars				-19%
				0.93 euros per share				-28%
				1.37 dollars per share				-19%
-- 2009 adjusted net income				7.8 billion euros				-44%
				10.9 billion dollars				-47%
-- 2009 net income (Group share)				8.4 billion euros				-20%

Highlights since the beginning of the fourth quarter 2009

• Fourth quarter 2009 Upstream production of 2,377 kboe/d
• Started up Yemen LNG first train in October
• Acquired a 25% interest in Chesapeake’s Barnett Shale unconventional gas portfolio in Texas
• Launched the Canadian heavy oil project Surmont Phase II
• New oil discoveries in offshore Angola on blocks 17/06 and 15/06, in Nigeria on OPL 223 and in Vietnam on block 15-1/05
• Acquired a 47% interest in Algeria’s Ahnet permit, a 25% interest to explore the Guyane Maritime Permit off French Guiana, and signed a cooperation agreement for the development of the Khvalynskoye gas field in the Caspian Sea
• Signed an agreement to develop Iraq’s giant Halfaya field in partnership with CNPC and Petronas
• Merged the refining and marketing assets of TOTAL and ERG in Italy into a joint company that is 49% held by Total
• Started up a pilot project for CO2 capture and storage at Lacq in France

The Board of Directors of Total (Paris:FP) (LSE:TTA) (NYSE:TOT), led by Chairman Thierry Desmarest, met on February 10, 2010 to review the Group’s fourth quarter 2009 accounts and to close the parent company and consolidated accounts for 2009. Adjusted net income was 7.8 billion euros (B€), a 44% decrease compared to 2008. Expressed in dollars, adjusted net income was 10.9 billion dollars (B$), a decrease of 47%.

The Board of Directors decided to propose at its annual meeting on May 21, 2010, a dividend of 2.28 €/share, stable in euros compared to 2008 and, expressed in dollars⁴, an increase of 9%.

Commenting on the results, CEO Christophe de Margerie said :

«The 2009 oil and gas market environment was marked by a sharp decline in the demand for oil, natural gas and refined products. Crude oil prices, nonetheless, rebounded during the year to average 61.7 $/b thanks to the support from OPEC reductions and the anticipation by the market of an economic recovery. In contrast, natural gas spot prices remained depressed and refining margins fell to historically low levels, under pressure from significant overcapacity. In Chemicals, despite strong demand for polymers in China, the environment was hurt by low margins and a sharp drop in demand in OECD markets.

In this context, Total’s 2009 adjusted net income was 10.9 B$, a decrease of 47% compared to 2008. The Group’s results for the year were among the most resilient of the major oils. In the fourth quarter, thanks to a 6% increase in Upstream production, higher oil prices and Downstream results that remained slightly positive despite very weak refining margins, adjusted net income rose to 3.1 B$, an increase of 15% compared to the third quarter.

With its strong balance sheet and financial flexibility, Total has been able to continue its investment program and dividend policy in 2009, while keeping its net-debt-to-equity ratio, in line with its objectives, at 27% at the end of December 2009.

In the Upstream, in 2009 five major projects started production in Nigeria, the Gulf of Mexico, Angola, Qatar and Yemen. The Group also approved the investment to launch the Surmont Phase II project in Canada, and, to further strengthen its portfolio, entered into a number of joint ventures, notably with Chesapeake and Cobalt in the United States, Novatek in Russia, and Sonatrach in Algeria. These additions were made within the framework of the company’s strict financial criteria. In addition, cost reduction plans launched in late 2008 led to an 8% reduction in operating costs and allowed the company to maintain its technical costs at 15.4 $/boe, the same level as in 2008.

The Downstream and Chemicals segments continued to implement plans to adapt to the particularly difficult conditions they faced in 2009 that included reducing capacity to restore profitability to these activities in an environment undergoing profound transformation. The measures taken in the modernization of the refining and petrochemicals site at Normandy demonstrate the Group’s will to be socially responsible as it adapts its industrial operations to structural changes in the market.

In addition, outlays for research and development rose to 650 million euros in 2009, an increase of 6% compared to 2008. In particular, this allowed the Group to start up this year the pilot project for CO2 capture and storage at Lacq, which illustrates its commitment to the fight against global climate change.

In reaffirming the priority of safety and the environment and by building on its investment discipline, its high-quality portfolio and its recognized expertise, Total is confident in its ability to pursue its strategy of profitable and responsible growth to create value for all of its stakeholders».

¦ ¦ ¦

• Key figures⁵

4Q09		3Q09		4Q08		4Q09 vs 4Q08		in millions of euros except earnings per share and number of shares		2009		2008		2009 vs 2008
36,228		33,628		38,714		-6%		Sales		131,327		179,976		-27%
3,985		3,510		5,126		-22%		Adjusted operating income from business segments		14,154		28,114		-50%
2,071		1,808		2,942		-30%		Adjusted net operating income from business segments		7,607		13,961		-46%
1,948		1,501		1,995		-2%		= Upstream		6,382		10,724		-40%
51		146		770		-93%		= Downstream		953		2,569		-63%
72		161		177		-59%		= Chemicals		272		668		-59%
2,081		1,869		2,873		-28%		Adjusted net income		7,784		13,920		-44%
0.93		0.84		1.29		-28%		Adjusted fully-diluted earnings per share (euros)		3.48		6.20		-44%
2,241.4		2,236.8		2,235.5		-		Fully-diluted weighted-average shares (millions)		2,237.2		2,246.7		-
2,065		1,923		-794		n/a		Net income (Group share)		8,447		10,590		-20%
3,524		3,256		4,758		-26%		Investments 1		13,349		13,640		-2%
3,419		3,169		4,565		-25%		Investments including net investments in equity affiliates and non-consolidated companies6		13,003		12,444		+4%
944		807		943		-		Divestments		3,081		2,585		+19%
1,889		4,538		4,093		-54%		Cash flow from operations		12,360		18,669		-34%
3,408		3,454		4,830		-29%		Adjusted cash flow from operations		13,471		19,601		-31%

4Q09		3Q09		4Q08		4Q09 vs 4Q08		in millions of dollars 7 except earnings per share and number of shares		2009		2008		2009 vs 2008
53,541		48,098		51,025		+5%		Sales		183,175		264,709		-31%
5,889		5,020		6,756		-13%		Adjusted operating income from business segments		19,742		41,350		-52%
3,061		2,586		3,878		-21%		Adjusted net operating income from business segments		10,610		20,534		-48%
2,879		2,147		2,629		+10%		= Upstream		8,902		15,773		-44%
75		209		1,015		-93%		= Downstream		1,329		3,778		-65%
106		230		233		-55%		= Chemicals		379		982		-61%
3,076		2,673		3,787		-19%		Adjusted net income		10,857		20,474		-47%
1.37		1.20		1.69		-19%		Adjusted fully-diluted earnings per share (dollars)		4.85		9.11		-47%
2,241.4		2,236.8		2,235.5		-		Fully-diluted weighted-average shares (millions)		2,237.3		2,246,7		-
3,052		2,750		-1,046		n/a		Net income (Group share)		11,782		15,576		-24%
5,208		4,657		6,271		-17%		Investments6		18,619		20,062		-7%
5,053		4,533		6,017		-16%		Investments including net investments in equity affiliates and non-consolidated companies6		18,137		18,303		-1%
1,395		1,154		1,243		+12%		Divestments		4,297		3,802		+13%
2,792		6,491		5,395		-48%		Cash flow from operations		17,240		27,458		-37%
5,037		4,940		6,366		-21%		Adjusted cash flow from operations		18,789		28,829		-35%

• Fourth quarter 2009

> Operating income

In the fourth quarter 2009, Total’s indicator for realized liquids prices averaged 70.6 $/b, an increase of 43% compared to the fourth quarter 2008 and 8% compared to the third quarter 2009. In contrast, Total’s indicator for realized natural gas prices averaged 5.07 $/Mbtu, a decrease of 33% compared to the fourth quarter 2008 and an increase of 4% compared to the third quarter 2009. The European refining margin indicator (ERMI⁸) was 11.7 $/t on average in the fourth quarter 2009, a decrease of 71% compared to the fourth quarter 2009 and 3% compared to the third quarter 2009.

The euro-dollar exchange rate averaged 1.48 $/€ in the fourth quarter 2009 compared to 1.32 $/€ in the fourth quarter 2008 and 1.43 $/€ in the third quarter 2009.

In this context, the adjusted operating income from the business segments was 3,985 M€, a decrease of 22% compared to the fourth quarter 2008⁹. Expressed in dollars, the decrease was 13%.

The effective tax rate¹⁰ for the business segments was 57% in the fourth quarter 2009 compared to 51% in the fourth quarter 2008, essentially reflecting the larger contribution of Upstream to the Group’s results in the fourth quarter 2009 compared to the fourth quarter 2008.

Adjusted net operating income from the business segments was 2,071 M€ compared to 2,942 M€ in the fourth quarter 2008, a decrease of 30%.

Expressed in dollars, adjusted net operating income from the business segments was 3.1 billion dollars (B$), a decrease of 21% compared to the fourth quarter 2008.

> Net income

Adjusted net income was 2,081 M€ compared to 2,873 M€ in the fourth quarter 2008, a decrease of 28%. Expressed in dollars, adjusted net income decreased by 19%. It excludes the after-tax inventory effect, special items, and the Group’s equity share of adjustments and selected items related to Sanofi-Aventis.

• The after-tax inventory effect had a positive impact on net income of 296 M€ in the fourth quarter 2009 and a negative effect of 3,128 M€ in the fourth quarter 2008.
• The Group’s share of adjustments and selected items related to Sanofi-Aventis had a negative impact on net income of 48 M€ in the fourth quarter 2009 and a negative impact of 166 M€ in the fourth quarter 2008.
• Other special items had a negative impact on net income of 264 M€ in the fourth quarter 2009, comprised essentially of impairments in the Downstream, and a negative impact of 373 M€¹¹ in the fourth quarter 2008.

Reported net income (Group share) was 2,065 M€ in the fourth quarter 2009. In the fourth quarter 2008, the Group reported a net loss of 794 M€.

The effective tax rate for the Group was 55% in the fourth quarter 2009.

The Group did not buy back shares in the fourth quarter 2009.

Adjusted fully-diluted earnings per share, based on 2,241.4 million fully-diluted weighted-average shares, was 0.93 euros compared to 1.29 euros in the fourth quarter 2008, a decrease of 28%.

Expressed in dollars, adjusted fully-diluted earnings per share fell by 19% to $1.37.

> Investments – divestments¹²

Investments excluding acquisitions and including net investments in equity affiliates and non-consolidated companies were 3.3 B€ (4.9 B$) in the fourth quarter 2009 compared to 4.1 B€ (5.3 B$) in the fourth quarter 2008.

Acquisitions were 112 M€ in the fourth quarter 2009.

Asset sales in the fourth quarter 2009 were 821 M€, consisting essentially of Sanofi-Aventis shares.

Net investments¹³ were 2.6 B€ (3.8 B$) in the fourth quarter 2009 compared to 3.8 B€ (5.0 B$) in the fourth quarter 2008.

> Cash flow

Cash flow from operating activities was 1,889 M€ in the fourth quarter 2009 compared to 4,093 M€ in the fourth quarter 2008. The 54% decrease was mainly due to changes in working capital requirements.

Adjusted cash flow¹⁴ was 3,408 M€, a decrease of 29% compared to the fourth quarter 2008. Expressed in dollars, adjusted cash flow was 5.0 B$, a decrease of 21%.

Net cash flow¹⁵ for the Group was a negative 691 M€ compared to a positive 278 M€ in the fourth quarter 2008, mainly due to an increase in working capital. Expressed in dollars, net cash flow for the Group was a negative 1.0 B$ in the fourth quarter 2009.

• Results for the full year 2009

> Operating income

Using Total’s market indicators and comparing 2009 to 2008, the environment was marked by a 36% decrease in the average realized liquids price and a 30% decrease in the average realized natural gas price. The ERMI refining margin indicator for Europe fell by 65% to 17.8 $/t. The Chemicals environment was marked by a drop in demand for polymers and specialty chemicals.

The euro-dollar exchange rate was 1.39 $/€ in 2009 compared to 1.47 $/€ in 2008.

In this context, the adjusted operating income from the business segments was 14,154 M€, a decrease of 50% compared to the 2008¹⁶. Expressed in dollars, adjusted operating income from the business segments was 19.7 B$, a decrease of 52% compared to 2008.

The effective tax rate¹⁷ for the business segments was 55% compared to 56% in 2008.

Adjusted net operating income from the business segments was 7,607 M€ compared to 13,961 M€ in 2008, a decrease of 46%. The smaller decrease, relative to the one in adjusted operating income, is essentially due to the more limited decrease in the contribution from equity affiliates.

Expressed in dollars, adjusted net operating income from the business segments fell by 48%.

> Net income

Adjusted net income decreased by 44% to 7,784 M€ in 2009 from 13,920 M€ in 2008. It excludes the after-tax inventory effect, special items, and the Group’s equity share of adjustments and selected items related to Sanofi-Aventis.

• The after-tax inventory effect had a positive impact on net income of 1,533 M€ in 2009 compared to a negative impact of 2,452 M€ in 2008.
• The Group’s share of adjustments and selected items related to Sanofi-Aventis had a negative impact on net income of 300 M€ in 2009 and a negative impact on net income of 393 M€ in 2008.
• Other special items had a negative impact on net income of 570 M€ in 2009 compared to a negative impact of 485 M€ in 2008¹⁸.

Reported net income (Group share) was 8,447 M€ compared to 10,590 M€ in 2008.

The effective tax rate for the Group was 55% in 2009 compared to 56% in 2008.

The Group did not buy back shares in 2009. On December 31, 2009, there were 2,243.7 million fully-diluted shares compared to 2,235.3 million fully-diluted shares on December 31, 2008.

Adjusted fully-diluted earnings per share, based on 2,237.3 million weighted-average shares was 3.48 euros compared to 6.20 euros in 2008, a decrease of 44%.

Expressed in dollars, the adjusted fully-diluted earnings per share was 4.85 compared to 9.11 in 2008, a decrease of 47%.

> Investments – divestments¹⁹

Investments excluding acquisitions and including net investments in equity affiliates and non-consolidated companies were 12.3 B€ (17.1 B$) in 2009 compared to 11.4 B€ (16.8 B$) in 2008.

Acquisitions were 743 M€ in 2009.

Asset sales in 2009 were 2,663 M€, consisting essentially of Sanofi-Aventis shares.

Net investments²⁰ were 10.3 B€ in 2009 compared to 11.1 B€ in 2008. Expressed in dollars, net investments in 2009 were 14.3 B$, a decrease of 12% compared to the 16.3 B$ of net investments in 2008.

> Cash flow

Cash flow from operating activities was 12,360 M€, a decrease of 34% compared to 2008.

Adjusted cash flow²¹ was 13,471 M€, a decrease of 31%, reflecting mainly the decrease in adjusted net income. Expressed in dollars, adjusted cash flow was 18.8 B$, a decrease of 35%.

Net cash flow²² for the Group was 2,092 M€ compared to 7,614 M€ in 2008, essentially due to an increase in working capital requirements. Expressed in dollars, net cash flow for the Group was 2.9 B$ in 2009.

The net-debt-to-equity ratio was 26.6% on December 31, 2009 compared to 22.5% on December 31, 2008²³.

• Analysis of business segment results

Upstream

> Environment – liquids and gas price realizations*

4Q09		3Q09		4Q08		4Q09 vs 4Q08				2009		2008		2009 vs 2008
74.5		68.1		55.5		+34%		Brent ($/b)		61.7		97.3		-37%
70.6		65.1		49.4		+43%		Average liquids price ($/b)		58.1		91.1		-36%
5.07		4.89		7.57		-33%		Average gas price ($/Mbtu)		5.17		7.38		-30%
54.4		50.7		47.1		+15%		Average hydrocarbons price ($/boe)		47.1		72.1		-35%

* consolidated subsidiaries, excluding fixed margin and buy-back contracts.

In the fourth quarter 2009, Total’s average realized liquids price increased by 43% compared to the fourth quarter 2008. For the full year, Total’s average realized liquids price decreased by 36%.

The average realized price for Total’s natural gas decreased by 33% in the fourth quarter 2009 compared to the fourth quarter 2008. Total’s average natural gas price decreased by 30% compared to 2008.

> Production

4Q09		3Q09		4Q08		4Q09 vs 4Q08		Hydrocarbon production		2009		2008		2009 vs 2008
2,377		2,243		2,354		+1%		Combined production (kboe/d)		2,281		2,341		-3%
1,404		1,379		1,434		-2%		= Liquids (kb/d)		1,381		1,456		-5%
5,320		4,726		5,127		+4%		= Gas (Mcf/d)		4,923		4,837		+2%

Hydrocarbon production was 2,377 thousand barrels of oil equivalent per day (kboe/d) in the fourth quarter 2009, an increase of 1% compared to the fourth quarter 2008 and 6% compared to the third quarter 2009.

Compared to the fourth quarter 2008, production increased mainly as a result of:

• +6.5% for ramp-ups and start-ups of new fields net of the normal decline,
• -2% for the price effect ²⁴,
• -1.5% for OPEC reductions,
• -0.5% for disruptions in Nigeria related to security issues,
• -1.5% for changes in the portfolio, mainly in Venezuela. The impact of terminating the Hamra concession in Algeria was offset in the quarter by the start of the contract on the Tabiyeh field in Syria.

Excluding the impact of OPEC reductions, production growth was 2.5% compared to the fourth quarter 2008.

For the full year 2009, hydrocarbon production was 2,281 kboe/d, a decrease of 2.6% compared to 2008, mainly as a result of:

• +2% for ramp-ups and start-ups of new fields net of the normal decline,
• +1.5% for the price effect²⁴,
• -3% for OPEC reductions and lower gas demand,
• -1% for disruptions in Nigeria related to security issues,
• -2% for changes in the portfolio, essentially in Venezuela and Libya.

Excluding the impact of OPEC reductions, production was stable compared to 2008.

> Reserves

Year-end reserves		2009		2008		%
Hydrocarbon reserves (Mboe)		10,483		10,458		-
= Liquids (Mb)		5,689		5,695		-
= Gas (Bcf)		26,318		26,218		-

Proved reserves based on SEC rules (59.91 $/b Brent) were 10,483 Mboe at December 31, 2009. At the 2009 average rate of production, the reserve life is more than 12 years.

The 2009 reserve replacement rate²⁵, based on SEC rules, was 103%. Excluding acquisitions and divestments, the reserve replacement rate was 93%.

As of year-end 2009, Total has a solid and diversified portfolio of proved and probable reserves²⁶ representing 20 Bboe, or more than a 20-year reserve life based on the 2009 average production rate, and resources²⁷ representing more than a 40-year reserve life.

> Results

4Q09		3Q09		4Q08		4Q09 vs 4Q08		in millions of euros		2009		2008		2009 vs 2008
3,908		3,236		3,727		+5%		Adjusted operating income*		12,879		23,639		-46%
1,948		1,501		1,995		-2%		Adjusted net operating income*		6,382		10,724		-40%
293		190		269		+9%		includes income from equity affiliates		886		1,236		-28%
2,429		2,512		3,283		-26%		Investments		9,855		10,017		-2%
77		87		270		-71%		Divestments		398		1,130		-65%
2,825		2,854		2,139		+32%		Cash flow from operating activities		10,200		13,765		-26%
3,168		2,939		2,849		+11%		Adjusted cash flow		11,336		14,313		-21%

* detail of adjustment items shown in business segment information.

Adjusted net operating income for the Upstream segment was 1,948 M€ in the fourth quarter 2009 compared to 1,995 M€ in the fourth quarter 2008, a decrease of 2%.

Expressed in dollars, adjusted net operating income for the Upstream segment increased by 10%, reflecting essentially the impact of higher hydrocarbon prices compared to the fourth quarter 2008.

The effective tax rate for the Upstream segment was 58% compared to 57% in the fourth quarter 2008 and 59% in the third quarter 2009.

Over the full year 2009, adjusted net operating income for the Upstream segment was 6,382 M€ compared to 10,724 M€ in 2008, a decrease of 40%. Expressed in dollars, adjusted net operating income for the Upstream segment was 8.9 B$, a 44% decrease compared to 2008, essentially due to lower hydrocarbon prices.

Technical costs for consolidated subsidiaries, in accordance with ASC 932²⁸ (previously FAS69) were 15.4 $/boe in 2009, stable compared to 2008, with a decrease of 8% in operating expenses per barrel offsetting an increase in depreciation, depletion and amortization (DD&A) charges related notably to the start-up of new projects.

The return on average capital employed (ROACE²⁹) for the Upstream segment was 18% in 2009 compared to 36% in 2008.

Downstream

> Refinery throughput and utilization rates*

4Q09		3Q09		4Q08		4Q09 vs 4Q08				2009		2008		2009 vs 2008
2,055		2,142		2,371		-13%		Total refinery throughput (kb/d)		2,151		2,362		-9%
701		828		944		-26%		= France		836		956		-13%
1,104		1,045		1,146		-4%		= Rest of Europe		1,065		1,134		-6%
250		269		281		-11%		= Rest of world		250		272		-8%
								Utilization rates
75%		78%		90%				= Based on crude only		78%		88%
79%		82%		91%				= Based on crude and other feedstock		83%		91%

* includes share of CEPSA.

In the fourth quarter 2009, refinery throughput decreased by 13% compared to the fourth quarter 2008 and by 4% compared to the third quarter 2009.

In the fourth quarter 2009, most of the Group’s refineries continued to use voluntary throughput reductions to adjust to poor economic conditions. These reductions decreased the utilization rate for crude and other feedstocks to 79% from 91% in the fourth quarter 2008. Compared to the third quarter 2009, the decrease in the utilization for crude and other feedstocks rate from 82% to 79% was mainly due to shutting down production at the Flanders (Dunkirk) refinery in mid-September 2009.

For the full year 2009, the utilization rate based on crude was 78% (83% for crude and other feedstocks) compared to 88% in 2008 (91% for crude and other feedstocks) reflecting the voluntary throughput reductions in the Group’s refineries. Five refineries had scheduled turnarounds for maintenance in 2009 compared to six in 2008. Turnaround activity in 2010 is expected to be lower than in 2009.

> Results

4Q09		3Q09		4Q08		4Q09 vs 4Q08		in millions of euros except ERMI* refining margins		2009		2008		2009 vs 2008
11.7		12.0		40.9		-71%		European refining margin indicator - ERMI* ($/t)		17.8		51.1		-65%
11		83		1,145		-99%		Adjusted operating income**		1,026		3,602		-72%
51		146		770		-93%		Adjusted net operating income**		953		2,569		-63%
19		75		21		-10%		includes income from equity affiliates		155		77		x2
844		607		972		-13%		Investments		2,771		2,418		+15%
48		23		18		x2.7		Divestments		133		216		-38%
(1,400)		944		603		n/a		Cash flow from operating activities		1,164		3,111		-63%
199		229		1,409		-86%		Adjusted cash flow		1,601		4,018		-60%

* ERMI has replaced TRCV as the European refining margin indicator, as announced by Total on January 15, 2010 in the publication of its 4^th quarter indicators. In view of market changes over the past years (particularly in terms of refinery complexity, crude feedstocks and product runs) the ERMI should be more representative of the margin on average variable costs for a theoretical European refinery.

** detail of adjustment items shown in business segment information.

The ERMI European refining margin indicator averaged 11.7 $/t in the fourth quarter 2009, a decrease of 71% compared to the fourth quarter 2008. For the full year 2009, the European refining margin indicator was 17.8 $/t, a decrease of 65% compared to 2008.

Adjusted net operating income for the Downstream segment was 51 M€ in the fourth quarter 2009, a decrease of 93% compared to the fourth quarter 2008, reflecting essentially the sharp decrease in refining margins and less favorable conditions for marketing and supply optimization.

Expressed in dollars, adjusted net operating income for the Downstream segment was 75 M$, a decrease of 93% compared to the fourth quarter 2008.

Adjusted net operating income for the Downstream segment for the full year 2009 was 953 M€, a decrease of 63% compared to 2008.

Expressed in dollars, adjusted net operating income for the Downstream segment was 1,329 M$ in 2009, a decrease of 65% compared to 3,778 M$ in 2008, reflecting essentially the significantly weaker refining environment.

The decreases in cash flow from operating activities and adjusted cash flow shown for the fourth quarter and full year 2009 were due to a large increase in working capital requirements and the decrease in adjusted net operating income.

The ROACE³⁰ for the Downstream segment for the full year 2009 was 7% compared to 20% for 2008.

Chemicals

4Q09		3Q09		4Q08		4Q09 vs 4Q08		in millions of euros		2009		2008		2009 vs 2008
3,932		3,892		4,012		-2%		Sales		14,726		20,150		-27%
2,389		2,326		2,449		-2%		Base chemicals		8,655		13,176		-34%
1,543		1,566		1,563		-1%		Specialties		6,071		6,974		-13%
66		191		254		-74%		Adjusted operating income*		249		873		-71%
72		161		177		-59%		Adjusted net operating income*		272		668		-59%
-16		53		109		n/a		Base chemicals		16		323		-95%
93		111		55		+69%		Specialties		279		339		-18%
225		112		477		-53%		Investments		631		1,074		-41%
20		13		20		-		Divestments		47		53		-11%
324		300		939		-65%		Cash flow from operating activities		1,082		920		+18%
218		244		323		-33%		Adjusted cash flow		442		1,093		-60%

* detail of adjustment items shown in business segment information.

In the fourth quarter and full year 2009, the environment for the Chemicals segment was affected by weak demand in the OECD countries.

Adjusted net operating income for the Chemicals segment was 72 M€ in the fourth quarter 2009, a decrease of 59% compared to the fourth quarter 2008 that was essentially due to the significantly weaker market conditions for Base chemicals.

For the full year 2009, adjusted net operating income for the Chemicals segment was 272 M€ compared to 668 M€ in 2008, a decrease of 59% that resulted from the significantly weaker environment for Base chemicals and, to a lesser degree, lower sales and results from the Specialties.

The ROACE³¹ for the Chemicals segment for the full year 2009 was 4% compared to 9% for 2008.

• TOTAL S.A. parent company accounts and proposed dividend

Net income for Total S.A., the parent company, was 5,634 M€ in 2009 compared to 6,008 M€ in 2008. After closing the accounts, the Board of Directors decided to propose at the May 21, 2010 Annual Shareholders Meeting a dividend of 2.28 euros per share for 2009, stable in euros compared to the previous year.

Based on 2009 adjusted net income, Total’s pay-out ratio would be 66%.

Taking into account the interim dividend of 1.14 euros per share paid on November 18, 2009, the remaining 1.14 euros per share would be paid on June 1, 2010³².

• Summary and outlook

The ROACE for the full year 2009 was 13% for the Group and 13% for the business segments compared to 26% and 28%, respectively, for the full year 2008.

Return on equity was 16% in 2009 compared to 32% in 2008.

In the Upstream, 2010 production is expected to increase thanks to the ramp-up on projects started up in 2009. Total will continue to build on its large and diversified portfolio, its recognized expertise in project management and cost control. Following the launch of the Surmont Phase II project announced in January, Total expects to launch several other major projects, including CLOV in Angola, Laggan/Tormore in the United Kingdom, and Ofon II and Egina in Nigeria.

In the Downstream and Chemicals, the Group plans to continue to adapt its activities in mature areas and reinforce its portfolio in growing markets, notably with the construction of the Jubail refinery and the benefit from the start-up of a new ethane cracker in Qatar.

The Group is continuing to pursue its growth policy in 2010 with an investment budget of 18 billion dollars³³, stable compared to the 2009 budget ; 80% of the investments will be dedicated to the Upstream. In addition, Total intends to divest non-strategic assets, in particular through the progressive sale of its shares in Sanofi-Aventis and a project to sell Mapa Spontex, a subsidiary in its Specialty chemicals sector. Based on this, the Group maintains its net-debt-to-equity ratio objective of around 25-to-30%. Total is confident in its ability to maintain its dividend policy.

Since the beginning of the first quarter 2010, the price of Brent has traded between 70 and 80 $/b and natural gas prices have recovered somewhat. The environment for refining and petrochemicals remains difficult.

¦ ¦ ¦

To listen to a presentation by CEO Christophe de Margerie to financial analysts today in Paris at 11:30 (Paris time) please log on to www.total.com or call +44 (0)203 367 9455 in Europe or +1 866 907 5925 in the U.S. For a replay through February 26, 2010 please consult the website or call +44 (0)203 367 9460 in Europe or +1 877 642 3018 in the US (code : 269 259).

To listen to a presentation by CEO Christophe de Margerie to financial analysts today in London at 16:30 (London time) please log on to www.total.com or call +44 (0)203 367 9457 in Europe or +1 866 907 5925 in the U.S. For a replay through February 26, 2010 please consult the website or call +44 (0)203 367 9460 in Europe or +1 877 642 3018 in the US (code : 269 261).

This document does not constitute the annual financial report that will be published separately in conformance with Article L.451-1-2 III of the Code monétaire et financier and will be available on the Group’s website www.total.com or by request from company’s headquarters.

This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, business, strategy and plans of Total. Such statements are based on a number of assumptions that could ultimately prove inaccurate, and are subject to a number of risk factors, including currency fluctuations, the price of petroleum products, the ability to realize cost reductions and operating efficiencies without unduly disrupting business operations, environmental regulatory considerations and general economic and business conditions. Total does not assume any obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise. Further information on factors which could affect the company’s financial results is provided in documents filed by the Group and its affiliates with the French Autorité des Marchés Financiers and the US Securities and Exchange Commission.

Business segment information is presented in accordance with the Group internal reporting system used by the Chief operating decision maker to measure performance and allocate resources internally. Due to their particular nature or significance, certain transactions qualified as "special items” are excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. However, in certain instances, certain transactions such as restructuring costs or assets disposals, which are not considered to be representative of normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to recur within following years.

The adjusted results of the Downstream and Chemical segments are also presented according to the replacement cost method. This method is used to assess the segments’ performance and ensure the comparability of the segments’ results with those of its competitors, mainly North American.

In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the income statement is determined by the average price of the period rather than the historical value. The inventory valuation effect is the difference between the results according to FIFO (First-In, First-Out) and replacement cost.

In this framework, performance measures such as adjusted operating income, adjusted net operating income and adjusted net income are defined as incomes using replacement cost, adjusted for special items and excluding Total’s equity share of the adjustments and, from 2009, selected items related to Sanofi-Aventis. They are meant to facilitate the analysis of the financial performance and the comparison of income between periods.

Dollar amounts presented herein represent euro amounts converted at the average euro-dollar exchange rate for the applicable period and are not the result of financial statements prepared in dollars.

Cautionary Note to U.S. Investors — The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this press release, such as resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-10888 available from us at 2, place Jean Millier — La Défense 6 — 92078 Paris La Défense Cedex, France or at our website: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website: www.sec.gov.

Operating information by segment

Fourth quarter and full year 2009

• Upstream

4Q09		3Q09		4Q08		4Q09 vs 4Q08		Combined liquids and gas production by region (kboe/d)		2009		2008		2009 vs 2008
627		569		684		-8%		Europe		613		616		-
780		762		746		+5%		Africa		749		783		-4%
41		31		13		x3.2		North America		24		14		+71%
242		259		241		-		Far East		251		246		+2%
493		419		426		+16%		Middle East		438		432		+1%
167		183		217		-23%		South America		182		224		-19%
27		20		27		-		Rest of world		24		26		-8%
2,377		2,243		2,354		+1%		Total production		2,281		2,341		-3%
393		351		400		-2%		Includes equity and non-consolidated affiliates		359		403		-11%

4Q09		3Q09		4Q08		4Q09 vs 4Q08		Liquids production by region (kb/d)		2009		2008		2009 vs 2008
306		279		321		-5%		Europe		295		302		-2%
648		647		618		+5%		Africa		632		654		-3%
30		27		12		x2.5		North America		20		11		+82%
31		33		31		-		Far East		33		29		+14%
304		300		320		-5%		Middle East		307		329		-7%
68		79		118		-42%		South America		80		119		-33%
17		14		14		+21%		Rest of world		14		12		+17%
1,404		1,379		1,434		-2%		Total production		1,381		1,456		-5%
276		286		341		-19%		Includes equity and non-consolidated affiliates		286		347		-18%

4Q09		3Q09		4Q08		4Q09 vs 4Q08		Gas production by region (Mcf/d)		2009		2008		2009 vs 2008
1,736		1,580		1,957		-11%		Europe		1,734		1,704		+2%
681		583		658		+3%		Africa		599		659		-9%
53		19		8		x6.6		North America		22		15		+47%
1,196		1,276		1,280		-7%		Far East		1,228		1,236		-1%
1,050		657		604		+74%		Middle East		724		569		+27%
546		575		550		-1%		South America		564		579		-3%
58		36		70		-17%		Rest of world		52		75		-31%
5,320		4,726		5,127		+4%		Total production		4,923		4,837		+2%
635		355		316		x2		Includes equity and non-consolidated affiliates		395		298		+33%

4Q09		3Q09		4Q08		4Q09 vs 4Q08		Liquefied natural gas		2009		2008		2009 vs 2008
2.35		2.18		2.38		-1%		LNG sales* (Mt)		8.83		9.15		-3%

* sales, Group share, excluding trading ; 1 Mt/y = approx. 133 Mcf/d ; data from 2009 previous period have been restated to reflect volumes estimation for Bontang LNG in Indonesia based on the 2009 SEC coefficient.

• Downstream

4Q09		3Q09		4Q08		4Q09 vs 4Q08		Refined products sales by region (kb/d)*		2009		2008		2009 vs 2008
2,046		2,014		2,186		-6%		Europe		2,053		2,123		-3%
295		278		281		+5%		Africa		281		279		+1%
145		164		168		-14%		Americas		165		170		-3%
158		134		156		+1%		Rest of world		142		148		-4%
2,644		2,590		2,791		-5%		Total consolidated sales		2,641		2,720		-3%
921		887		860		+7%		Trading		975		938		+4%
3,565		3,477		3,651		-2%		Total refined product sales		3,616		3,658		-1%

* includes share of CEPSA

Adjustment items

• Adjustments to operating income from business segments

4Q09		3Q09		4Q08		in millions of euros		2009		2008
(411)		(9)		(375)		Special items affecting operating income from the business segments		(711)		(375)
-		-		-		Restructuring charges		-		-
(283)		(3)		(177)		Impairments		(391)		(177)
(128)		(6)		(198)		Other		(320)		(198)
449		214		(4,372)		Pre-tax inventory effect : FIFO vs. replacement cost		2,205		(3,503)
38		205		(4,747)		Total adjustments affecting operating income from the business segments		1,494		(3,878)

• Adjustments to net income (Group share)

4Q09		3Q09		4Q08		in millions of euros		2009		2008
(264)		2		(373)		Special items affecting net income (Group share)		(570)		(485)
92		46		17		Gain on asset sales		179		214
(17)		(7)		(21)		Restructuring charges		(129)		(69)
(260)		(2)		(171)		Impairments		(333)		(205)
(79)		(35)		(198)		Other		(287)		(425)
(48)		(70)		(166)		Equity shares of adjustments and, from 2009, selected items related to Sanofi-Aventis*		(300)		(393)
296		122		(3,128)		After-tax inventory effect : FIFO vs. replacement cost		1,533		(2,452)
(16)		54		(3,667)		Total adjustments to net income		663		(3,330)

* based on Total’s share in Sanofi-Aventis of 7.4% at 12/31/2009, 8.6% at 9/30/2009 and 11.4% at 12/31/2008, – selected items as from the year 2009.

Effective tax rates

4Q09		3Q09		4Q08		Effective tax rate*		2009		2008
57.6%		59.3%		57.4%		Upstream		58.3%		61.0%
55.4%		56.5%		50.6%		Group		55.0%		56.3%

* tax on adjusted net operating income / (adjusted net operating income - income from equity affiliates, dividends received from investments, and impairments of acquisition goodwill + tax on adjusted net operating income).

Investments - Divestments

4Q09		3Q09		4Q08		4Q09 vs 4Q08		in millions of euros		2009		2008		2009 vs 2008
3,307		3,111		4,059		-19%		Investments excluding acquisitions*		12,260		11,422		+7%
256		227		183		+40%		Capitalized exploration		865		772		+12%
159		187		74		x2.1		Net investments in equity affiliates and non-consolidated companies		594		(392)		n/a
112		58		506		-78%		Acquisitions		743		1,022		-27%
3,419		3,169		4,565		-25%		Investments including acquisitions*		13,003		12,444		+4%
821		702		732		+12%		Asset sales		2,663		1,451		+84%
2,580		2,449		3,815		-32%		Net investments **		10,268		11,055		-7%

4Q09		3Q09		4Q08		4Q09 vs 4Q08		expressed in millions of dollars***		2009		2008		2009 vs 2008
4,887		4,450		5,350		-9%		Investments excluding acquisitions*		17,100		16,799		+2%
378		325		241		+57%		Capitalized exploration		1,207		1,135		+6%
235		267		98		x2.4		Net investments in equity affiliates and non-consolidated companies		829		(577)		n/a
166		83		667		-75%		Acquisitions		1,036		1,503		-31%
5,053		4,533		6,017		-16%		Investments including acquisitions*		18,137		18,303		-1%
1,213		1,004		965		+26%		Asset sales		3,714		2,134		+74%
3,813		3,503		5,028		-24%		Net investments **		14,322		16,260		-12%

* includes net investments in equity affiliates and non-consolidated companies.

** net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies – asset sales + net financing for employees related to stock purchase plans.

*** dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period.

Net-debt-to-equity ratio

in millions of euros		12/31/2009		9/30/2009		12/31/2008
Current borrowings		6,994		6,012		7,722
Net current financial assets		(188)		(160)		(29)
Non-current financial debt		19,437		19,146		16,191
Hedging instruments of non-current debt		(1,025)		(983)		(892)
Cash and cash equivalents		(11,662)		(13,775)		(12,321)
Net debt		13,556		10,240		10,671
Shareholders’ equity		52,552		49,620		48,992
Estimated dividend payable*		(2,546)		(1,273)		(2,540)
Minority interests		987		959		958
Equity		50,993		49,306		47,410
Net-debt-to-equity ratio		26.6%		20.8%		22.5%

* based on a 2009 dividend equal to the 2008 dividend (2.28 €/share) less the interim dividend 1.14 €/share (2,545 M€) paid in November 2009.

2010 Sensitivities*

		Scenario		Change		Impact on adjusted operating income(e)		Impact on adjusted net operating income(e)
Dollar		1.40 $/€		+0.1 $ per €		-1.1 B€		-0.6 B€
Brent		60 $/b		+1 $/b		+0.25 B€ / 0.35 B$		+0.11 B€ / 0.15 B$
European refining margins ERMI		15 $/t		+1 $/t		+0.07 B€ / 0.10 B$		+0.05 B€ / 0.07 B$

* sensitivities revised once per year upon publication of the previous year’s fourth quarter results. The impact of the €-$ sensitivity on adjusted operating income and adjusted net operating income attributable to the Upstream segment are approximately 80% and 75% respectively, and the remaining impact of the €-$ sensitivity is essentially in the Downstream segment.

Return on average capital employed

• Full year 2009

in millions of euros		Upstream		Downstream		Chemicals**		Segments				Group***
Adjusted net operating income		6,382		953		272		7,607				8,226
Capital employed at 12/31/2008*		32,681		13,623		7,417		53,721				59,764
Capital employed at 12/31/2009*		37,397		15,299		6,898		59,594				64,451
ROACE		18.2%		6.6%		3.8%		13.4%				13.2%

* at replacement cost (excluding after-tax inventory effect).

** capital employed for Chemicals reduced for the Toulouse-AZF provision of 256 M€ pre-tax at 12/31/2008

• Twelve months ended September 30, 2009

in millions of euros		Upstream		Downstream		Chemicals**		Segments				Group***
Adjusted net operating income		6,429		1,672		377		8,478				9,096
Capital employed at 9/30/2008*		30,184		12,649		8,107		50,940				58,165
Capital employed at 9/30/2009*		35,514		13,513		6,845		55,872				61,030
ROACE		19.6%		12.8%		5.0%		15.9%				15.3%

* at replacement cost (excluding after-tax inventory effect).

** capital employed for Chemicals reduced for the Toulouse-AZF provision of 121 M€ pre-tax at 9/30/2008

*** capital employed for the Group adjusted for the amount of the interim dividend payable approved in July 2009 (2,544 M€).

• Full year 2008

in millions of euros		Upstream		Downstream		Chemicals**		Segments				Group
Adjusted net operating income		10,724		2,569		668		13,961				14,664
Capital employed at 12/31/2007*		27,062		12,190		7,033		46,285				54,158
Capital employed at 12/31/2008*		32,681		13,623		7,417		53,721				59,764
ROACE		35.9%		19.9%		9.2%		27.9%				25.7%

* at replacement cost (excluding after-tax inventory effect).

** capital employed for Chemicals reduced for the Toulouse-AZF provision of 134 M€ pre-tax at 12/31/2007 and 256 M€ pre-tax at 12/31/2008.

¹ percent changes are relative to the same period 2008.

² dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period : 1.4779 $/€ in the fourth quarter 2009, 1.3180 $/€ in the fourth quarter 2008, 1.4303 $/€ in the third quarter 2009, 1.3948 $/€ in 2009 and 1.4708 $/€ in 2008.

³ adjusted net income = net income using replacement cost (Group share), adjusted for special items and excluding Total’s share of amortization of intangibles related to the Sanofi-Aventis merger, and, from 2009, selected items related to Sanofi-Aventis. Net income (Group share) for the fourth quarter 2009 was 2,065 M€. Detail of adjustment items shown on page 18.

⁴ based on 1€=$1.40 on the payment date for the remainder of the 2009 dividend

⁵ adjusted income (adjusted operating income, adjusted net operating income and adjusted net income) is defined as income using replacement cost, adjusted for special items and excluding Total’s equity share of adjustments and, from 2009, selected items related to Sanofi-Aventis; adjusted cash flow from operations is defined as cash flow from operations before changes in working capital at replacement cost; adjustment items are on page 18.

⁶ including acquisitions.

⁷ dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period.

⁸ ERMI has replaced TRCV as the European refining margin indicator, as announced by Total on January 15, 2010 in the publication of its 4^th quarter indicators. In view of market changes over the past years (particularly in terms of refinery complexity, crude feedstocks and product runs) the ERMI should be more representative of the margin on average variable costs for a theoretical European refinery.

⁹ special items affecting operating income from the business segments had a negative impact of 411 M€ in the 4^th quarter 2009 and a negative impact of 375 M€ in the 4^th quarter 2008.

¹⁰ defined as : (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates, dividends received from investments and impairments of acquisition goodwill + tax on adjusted net operating income).

¹¹ detail shown on page 18.

¹² detail shown on page 19.

¹³ net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies – asset sales + net financing for employees related to stock purchase plans.

¹⁴ cash flow from operations at replacement cost before changes in working capital.

¹⁵ net cash flow = cash flow from operations + divestments – gross investments.

¹⁶ special items affecting operating income from the business segments had a negative impact of 711 M€ in 2009 and a negative impact of 375 M€ in 2008.

¹⁷ defined as : (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates, dividends received from investments and impairments of acquisition goodwill + tax on adjusted net operating income).

¹⁸ detail shown on page 18.

¹⁹ detail shown on page 19.

²⁰ net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies – asset sales + net financing for employees related to stock purchase plans.

²¹ cash flow from operations at replacement cost before changes in working capital.

²² net cash flow = cash flow from operations + divestments – gross investments.

²³ detail shown on page 20.

²⁴ impact of changing hydrocarbon prices on entitlement volumes.

²⁵ change in reserves excluding production i.e. (revisions + discoveries, extensions + acquisitions – divestments) / production for the period. In an environment with a constant 36.55 $/b oil price, excluding acquisitions and divestments, the reserve replacement rate would be 97%.

²⁶ limited to proved and probable reserves covered by E&P contracts on fields that have been drilled and for which technical studies have demonstrated economic development in a 60 $/b Brent environment, including projects developed by mining.

²⁷ proved and probable reserves plus contingent resources (potential average recoverable reserves from known accumulations - Society of Petroleum Engineers - 03/07).

²⁸ FASB Accounting Standards Codification Topic 932, Extractive industries – Oil and Gas

²⁹ calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 21.

³⁰ calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 21.

³¹ calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 21.

³² the ex-dividend date for the remainder of the 2009 dividend would be May 27, 2010.

³³ including net investments in equity affiliates and non-consolidated companies, excluding acquisitions, based on 1€=$1.40 for 2010.

Main indicators

Chart updated around the middle of the month following the end of each quarter

		€/$		European refining margins ERMI* ($/t)**		Brent ($/b)		Average liquids price*** ($/b)		Average gas price ($/Mbtu)***
Fourth quarter 2009		1.48		11.7		74.5		70.6		5.07
Third quarter 2009		1.43		12.0		68.1		65.1		4.89
Second quarter 2009		1.36		17.1		59.1		54.8		4.71
First quarter 2009		1.30		30.5		44.5		41.5		5.98
Fourth quarter 2008		1.32		40.9		55.5		49.4		7.57

* European Refining Margin Indicator (ERMI) represents an indicator reported for the first time in this interim update. - The ERMI is intended to represent the margin after variable costs for a hypothetical complex refinery located around Rotterdam in Northern Europe that processes a mix of crude oil and other inputs commonly supplied to this region to produce and market the main refined products at prevailing prices in this region. - The indicator margin may not be representative of the actual margins achieved by Total in any period because of Total’s particular refinery configurations, product mix effects or other company-specific operating conditions.

TRCV was the indicator margin reported in previous quarters in the interim updates. For comparative purposes, TRCV is 5.7 $/t for fourth quarter 2009 and was 6.6 $/t for third quarter 2009, 12.4 $/t for second quarter 2009, 34.7 $/t for first quarter 2009 and 41.4 $/t for fourth quarter 2008. TRCV will be discontinued effective in the first quarter 2010.

** 1 $/t = 0.136 $/b

*** consolidated subsidiaries, excluding fixed margin and buy-back contracts

Disclaimer : these data are based on Total’s reporting and are not audited. They are subject to change.

Total financial statements

Fourth quarter and full year 2009 consolidated accounts, IFRS

CONSOLIDATED STATEMENT OF INCOME
TOTAL
(unaudited)
(M€) (a)		4th quarter 2009		3rd quarter 2009		4th quarter 2008
Sales		36,228		33,628		38,714
Excise taxes		(4,933)		(4,812)		(5,009)
Revenues from sales		31,295		28,816		33,705
Purchases, net of inventory variation		(20,590)		(18,940)		(26,393)
Other operating expenses		(4,684)		(4,508)		(5,122)
Exploration costs		(237)		(130)		(227)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,927)		(1,599)		(1,748)
Other income		123		70		94
Other expense		(202)		(95)		(123)
Financial interest on debt		(111)		(108)		(298)
Financial income from marketable securities & cash equivalents		16		21		117
Cost of net debt		(95)		(87)		(181)
Other financial income		177		67		243
Other financial expense		(92)		(90)		(95)
Equity in income (loss) of affiliates		384		398		31
Income taxes		(2,045)		(1,927)		(960)
Consolidated net income		2,107		1,975		(776)
Group share*		2,065		1,923		(794)
Minority interests		42		52		18
Earnings per share (€)		0.93		0.86		(0.36)
Fully-diluted earnings per share (€)**		0.92		0.86		(0.36)
* Adjusted net income		2,081		1,869		2,873
** Adjusted fully-diluted earnings per share (€)		0.93		0.84		1.29
(a) Except for per share amounts.

CONSOLIDATED STATEMENT OF INCOME
TOTAL
(M€) (a)		Year 2009		Year 2008
Sales		131,327		179,976
Excise taxes		(19,174)		(19,645)
Revenues from sales		112,153		160,331
Purchases, net of inventory variation		(71,058)		(111,024)
Other operating expenses		(18,591)		(19,101)
Exploration costs		(698)		(764)
Depreciation, depletion and amortization of tangible assets and mineral interests		(6,682)		(5,755)
Other income		314		369
Other expense		(600)		(554)
Financial interest on debt		(530)		(1,000)
Financial income from marketable securities & cash equivalents		132		473
Cost of net debt		(398)		(527)
Other financial income		643		728
Other financial expense		(345)		(325)
Equity in income (loss) of affiliates		1,642		1,721
Income taxes		(7,751)		(14,146)
Consolidated net income		8,629		10,953
Group share*		8,447		10,590
Minority interests		182		363
Earnings per share (€)		3.79		4.74
Fully-diluted earnings per share (€)**		3.78		4.71
* Adjusted net income		7,784		13,920
** Adjusted fully-diluted earnings per share (€)		3.48		6.20
(a) Except for per share amounts.

CONSOLIDATED BALANCE SHEET
TOTAL
(M€)		December 31, 2009		September 30, 2009 (unaudited)		December 31, 2008
ASSETS
Non-current assets
Intangible assets, net		7,514		5,845		5,341
Property, plant and equipment, net		51,590		49,292		46,142
Equity affiliates : investments and loans		13,624		13,685		14,668
Other investments		1,162		1,187		1,165
Hedging instruments of non-current financial debt		1,025		983		892
Other non-current assets		3,081		3,179		3,044
Total non-current assets		77,996		74,171		71,252
Current assets
Inventories, net		13,867		12,002		9,621
Accounts receivable, net		15,719		14,198		15,287
Other current assets		8,198		8,141		9,642
Current financial assets		311		329		187
Cash and cash equivalents		11,662		13,775		12,321
Total current assets		49,757		48,445		47,058
Total assets		127,753		122,616		118,310
LIABILITIES & SHAREHOLDERS' EQUITY
Shareholders' equity
Common shares		5,871		5,869		5,930
Paid-in surplus and retained earnings		55,372		53,136		52,947
Currency translation adjustment		(5,069)		(5,744)		(4,876)
Treasury shares		(3,622)		(3,641)		(5,009)
Total shareholders' equity - Group Share		52,552		49,620		48,992
Minority interests		987		959		958
Total shareholders' equity		53,539		50,579		49,950
Non-current liabilities
Deferred income taxes		8,948		8,894		7,973
Employee benefits		2,040		2,013		2,011
Provisions and other non-current liabilities		9,381		7,936		7,858
Total non-current liabilities		20,369		18,843		17,842
Non-current financial debt		19,437		19,146		16,191
Current liabilities
Accounts payable		15,383		13,916		14,815
Other creditors and accrued liabilities		11,908		13,951		11,632
Current borrowings		6,994		6,012		7,722
Other current financial liabilities		123		169		158
Total current liabilities		34,408		34,048		34,327
Total Liabilities and shareholders' equity		127,753		122,616		118,310

CONSOLIDATED STATEMENT OF CASH FLOW
TOTAL
(unaudited)
(M€)		4th quarter 2009		3rd quarter 2009		4th quarter 2008
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income		2,107		1,975		(776)
Depreciation, depletion and amortization		2,061		1,673		1,853
Non-current liabilities, valuation allowances and deferred taxes		(82)		310		(435)
Impact of coverage of pension benefit plans		-		-		(505)
(Gains) losses on sales of assets		(104)		(50)		(28)
Undistributed affiliates' equity earnings		(148)		(232)		263
(Increase) decrease in working capital		(1,968)		870		3,635
Other changes, net		23		(8)		86
Cash flow from operating activities		1,889		4,538		4,093
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions		(3,204)		(2,849)		(3,987)
Acquisitions of subsidiaries, net of cash acquired		(4)		-		(368)
Investments in equity affiliates and other securities		(52)		(133)		(136)
Increase in non-current loans		(264)		(274)		(267)
Total expenditures		(3,524)		(3,256)		(4,758)
Proceeds from disposal of intangible assets and property, plant and equipment		19		4		73
Proceeds from disposal of subsidiaries, net of cash sold		-		-		-
Proceeds from disposal of non-current investments		802		698		659
Repayment of non-current loans		123		105		211
Total divestments		944		807		943
Cash flow used in investing activities		(2,580)		(2,449)		(3,815)
CASH FLOW (FROM)/USED FINANCING ACTIVITIES
Issuance (repayment) of shares:
- Parent company shareholders		22		5		4
- Treasury shares		19		1		(144)
- Minority shareholders		-		-		6
Cash dividends paid:
- Parent company shareholders		(2,545)		-		(2,541)
- Minority shareholders		(59)		15		(86)
Net issuance (repayment) of non-current debt		1,285		(617)		(435)
Increase (decrease) in current borrowings		(109)		(1,948)		2,244
Increase (decrease) in current financial assets and liabilities		(54)		-		29
Cash flow (from) / used in financing activities		(1,441)		(2,544)		(923)
Net increase (decrease) in cash and cash equivalents		(2,132)		(455)		(645)
Effect of exchange rates		19		(69)		(265)
Cash and cash equivalents at the beginning of the period		13,775		14,299		13,231
Cash and cash equivalents at the end of the period		11,662		13,775		12,321

CONSOLIDATED STATEMENT OF CASH FLOW
TOTAL
(M€)		Year 2009		Year 2008
CASH FLOW FROM OPERATING ACTIVITIES
Consolidated net income		8,629		10,953
Depreciation, depletion and amortization		7,107		6,197
Non-current liabilities, valuation allowances and deferred taxes		441		(150)
Impact of coverage of pension benefit plans		-		(505)
(Gains) losses on sales of assets		(200)		(257)
Undistributed affiliates' equity earnings		(378)		(311)
(Increase) decrease in working capital		(3,316)		2,571
Other changes, net		77		171
Cash flow from operating activities		12,360		18,669
CASH FLOW USED IN INVESTING ACTIVITIES
Intangible assets and property, plant and equipment additions		(11,849)		(11,861)
Acquisitions of subsidiaries, net of cash acquired		(160)		(559)
Investments in equity affiliates and other securities		(400)		(416)
Increase in non-current loans		(940)		(804)
Total expenditures		(13,349)		(13,640)
Proceeds from disposal of intangible assets and property, plant and equipment		138		130
Proceeds from disposal of subsidiaries, net of cash sold		-		88
Proceeds from disposal of non-current investments		2,525		1,233
Repayment of non-current loans		418		1,134
Total divestments		3,081		2,585
Cash flow used in investing activities		(10,268)		(11,055)
CASH FLOW (FROM)/USED FINANCING ACTIVITIES
Issuance (repayment) of shares:
- Parent company shareholders		41		262
- Treasury shares		22		(1,189)
- Minority shareholders		-		(4)
Cash dividends paid:
- Parent company shareholders		(5,086)		(4,945)
- Minority shareholders		(189)		(213)
Net issuance (repayment) of non-current debt		5,522		3,009
Increase (decrease) in current borrowings		(3,124)		1,437
Increase (decrease) in current financial assets and liabilities		(54)		850
Cash flow (from) / used in financing activities		(2,868)		(793)
Net increase (decrease) in cash and cash equivalents		(776)		6,821
Effect of exchange rates		117		(488)
Cash and cash equivalents at the beginning of the period		12,321		5,988
Cash and cash equivalents at the end of the period		11,662		12,321

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
TOTAL
		Common shares issued				Paid-in surplus and retained earnings		Currency translation adjustment		Treasury shares				Shareholders' equity Group Share		Minority interests		Total shareholders' equity
(M€)		Number		Amount						Number		Amount
As of January 1, 2008		2,395,532,097		5,989		48,797		(4,396)		(151,421,232)		(5,532)		44,858		842		45,700
Net income 2008		-		-		10,590		-		-		-		10,590		363		10,953
Other comprehensive Income		-		-		(258)		(480)		-		-		(738)		(34)		(772)
Comprehensive Income		-		-		10,332		(480)		-		-		9,852		329		10,181
Dividend		-		-		(4,945)		-		-		-		(4,945)		(213)		(5,158)
Issuance of common shares		6,275,977		16		246		-		-		-		262		-		262
Purchase of treasury shares		-		-		-		-		(27,600,000)		(1,339)		(1,339)		-		(1,339)
Sale of treasury shares (1)		-		-		(71)		-		5,939,137		221		150		-		150
Share-based payments		-		-		154		-		-		-		154		-		154
Other operations with minority interests		-		-		-		-		-		-		-		-		-
Share cancellation		(30,000,000)		(75)		(1,566)		-		30,000,000		1,641		-		-		-
Transactions with shareholders		(23,724,023)		(59)		(6,182)		-		8,339,137		523		(5,718)		(213)		(5,931)
As of December 31, 2008		2,371,808,074		5,930		52,947		(4,876)		(143,082,095)		(5,009)		48,992		958		49,950
Net income 2009		-		-		8,447		-		-		-		8,447		182		8,629
Other comprehensive Income		-		-		246		(193)		-		-		53		60		113
Comprehensive Income		-		-		8,693		(193)		-		-		8,500		242		8,742
Dividend		-		-		(5,086)		-		-		-		(5,086)		(189)		(5,275)
Issuance of common shares		1,414,810		3		38		-		-		-		41		-		41
Purchase of treasury shares		-		-		-		-		-		-		-		-		-
Sale of treasury shares (1)		-		-		(143)		-		2,874,905		165		22		-		22
Share-based payments		-		-		106		-		-		-		106		-		106
Other operations with minority interests		-		-		(23)		-		-		-		(23)		(24)		(47)
Share cancellation		(24,800,000)		(62)		(1,160)		-		24,800,000		1,222		-		-		-
Transactions with shareholders		(23,385,190)		(59)		(6,268)		-		27,674,905		1,387		(4,940)		(213)		(5,153)
As of December 31, 2009		2,348,422,884		5,871		55,372		(5,069)		(115,407,190)		(3,622)		52,552		987		53,539
(1) Treasury shares related to the stock option purchase plans and restricted stock grants

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (a)
TOTAL
(M€)		Year 2009		Year 2008
Net income		8,629		10,953
Other comprehensive income
Currency translation adjustment		(244)		(722)
Available for sale financial assets		38		(254)
Cash flow hedge		128		-
Share of other comprehensive income of associates, net amount		234		173
Other		(5)		1
Tax effect		(38)		30
Total other comprehensive income (net amount)		113		(772)
Comprehensive income		8,742		10,181
- Group share		8,500		9,852
- Minority interests		242		329
(a) In accordance with revised IAS 1, applicable from January 1, 2009.

BUSINESS SEGMENT INFORMATION
TOTAL
(unaudited)
4th quarter 2009 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		4,880		27,423		3,932		(7)		-		36,228
Intersegment sales		4,460		1,217		218		41		(5,936)		-
Excise taxes		-		(4,933)		-		-		-		(4,933)
Revenues from sales		9,340		23,707		4,150		34		(5,936)		31,295
Operating expenses		(4,299)		(23,046)		(3,912)		(190)		5,936		(25,511)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,154)		(622)		(141)		(10)		-		(1,927)
Operating income		3,887		39		97		(166)		-		3,857
Equity in income (loss) of affiliates and other items		155		(4)		44		195		-		390
Tax on net operating income		(2,188)		(1)		(20)		129		-		(2,080)
Net operating income		1,854		34		121		158		-		2,167
Net cost of net debt												(60)
Minority interests												(42)
Net income												2,065
4th quarter 2009 (adjustments) (a) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses		(17)		313		25		-				321
Depreciation, depletion and amortization of tangible assets and mineral interests		(4)		(285)		6		-				(283)
Operating income (b)		(21)		28		31		-				38
Equity in income (loss) of affiliates and other items (c)		(90)		(22)		23		46				(43)
Tax on net operating income		17		(23)		(5)		(2)				(13)
Net operating income (b)		(94)		(17)		49		44				(18)
Net cost of net debt												-
Minority interests												(2)
Net income												(16)
(a) Adjustments include special items, inventory valuation effect and equity share of adjustments and selected items related to Sanofi-Aventis.
(b) Of which inventory valuation effect
On operating income		-		388		61		-
On net operating income		-		259		38		-
(c) Of which equity share of adjustments and selected items related to Sanofi-Aventis		-		-		-		(48)
4th quarter 2009 (adjusted) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		4,880		27,423		3,932		(7)		-		36,228
Intersegment sales		4,460		1,217		218		41		(5,936)		-
Excise taxes		-		(4,933)		-		-		-		(4,933)
Revenues from sales		9,340		23,707		4,150		34		(5,936)		31,295
Operating expenses		(4,282)		(23,359)		(3,937)		(190)		5,936		(25,832)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,150)		(337)		(147)		(10)		-		(1,644)
Adjusted operating income		3,908		11		66		(166)		-		3,819
Equity in income (loss) of affiliates and other items		245		18		21		149		-		433
Tax on net operating income		(2,205)		22		(15)		131		-		(2,067)
Adjusted net operating income		1,948		51		72		114		-		2,185
Net cost of net debt												(60)
Minority interests												(44)
Ajusted net income												2,081
4th quarter 2009 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Total expenditures		2,429		844		225		26				3,524
Total divestments		77		48		20		799				944
Cash flow from operating activities		2,825		(1,400)		324		140				1,889

BUSINESS SEGMENT INFORMATION
TOTAL
(unaudited)
3rd quarter 2009 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		3,318		26,409		3,892		9		-		33,628
Intersegment sales		4,149		923		241		36		(5,349)		-
Excise taxes		-		(4,812)		-		-		-		(4,812)
Revenues from sales		7,467		22,520		4,133		45		(5,349)		28,816
Operating expenses		(3,086)		(21,982)		(3,746)		(113)		5,349		(23,578)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,145)		(307)		(139)		(8)		-		(1,599)
Operating income		3,236		231		248		(76)		-		3,639
Equity in income (loss) of affiliates and other items		119		46		19		166		-		350
Tax on net operating income		(1,885)		(51)		(73)		54		-		(1,955)
Net operating income		1,470		226		194		144		-		2,034
Net cost of net debt												(59)
Minority interests												(52)
Net income												1,923
3rd quarter 2009 (adjustments) (a) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales		-		-		-		-				-
Operating expenses		-		148		60		-				208
Depreciation, depletion and amortization of tangible assets and mineral interests		-		-		(3)		-				(3)
Operating income (b)		-		148		57		-				205
Equity in income (loss) of affiliates and other items (c)		(31)		(19)		(8)		(22)				(80)
Tax on net operating income		-		(49)		(16)		(1)				(66)
Net operating income (b)		(31)		80		33		(23)				59
Net cost of net debt												-
Minority interests												(5)
Net income												54
(a) Adjustments include special items, inventory valuation effect and equity share of adjustments and selected items related to Sanofi-Aventis.
(b) Of which inventory valuation effect
On operating income		-		150		64		-
On net operating income		-		81		45		-
(c) Of which equity share of adjustments and selected items related to Sanofi-Aventis		-		-		-		(70)
3rd quarter 2009 (adjusted) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		3,318		26,409		3,892		9		-		33,628
Intersegment sales		4,149		923		241		36		(5,349)		-
Excise taxes		-		(4,812)		-		-		-		(4,812)
Revenues from sales		7,467		22,520		4,133		45		(5,349)		28,816
Operating expenses		(3,086)		(22,130)		(3,806)		(113)		5,349		(23,786)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,145)		(307)		(136)		(8)		-		(1,596)
Adjusted operating income		3,236		83		191		(76)		-		3,434
Equity in income (loss) of affiliates and other items		150		65		27		188		-		430
Tax on net operating income		(1,885)		(2)		(57)		55		-		(1,889)
Adjusted net operating income		1,501		146		161		167		-		1,975
Net cost of net debt												(59)
Minority interests												(47)
Ajusted net income												1,869
3rd quarter 2009 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Total expenditures		2,512		607		112		25		-		3,256
Total divestments		87		23		13		684		-		807
Cash flow from operating activities		2,854		944		300		440		-		4,538

BUSINESS SEGMENT INFORMATION
TOTAL
(unaudited)
4th quarter 2008 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		6,925		27,746		4,012		31		-		38,714
Intersegment sales		4,097		810		207		15		(5,129)		-
Excise taxes		-		(5,009)		-		-		-		(5,009)
Revenues from sales		11,022		23,547		4,219		46		(5,129)		33,705
Operating expenses		(6,188)		(25,635)		(4,845)		(203)		5,129		(31,742)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,278)		(328)		(135)		(7)		-		(1,748)
Operating income		3,556		(2,416)		(761)		(164)		-		215
Equity in income (loss) of affiliates and other items		440		(259)		(61)		30		-		150
Tax on net operating income		(2,201)		807		274		108		-		(1,012)
Net operating income		1,795		(1,868)		(548)		(26)		-		(647)
Net cost of net debt												(129)
Minority interests												(18)
Net income												(794)
4th quarter 2008 (adjustments) (a) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales		-		-		-		-				-
Operating expenses		-		(3,561)		(1,009)		-				(4,570)
Depreciation, depletion and amortization of tangible assets and mineral interests		(171)		-		(6)		-				(177)
Operating income (b)		(171)		(3,561)		(1,015)		-				(4,747)
Equity in income (loss) of affiliates and other items (c)		(86)		(243)		(59)		(139)				(527)
Tax on net operating income		57		1,166		349		-				1,572
Net operating income (b)		(200)		(2,638)		(725)		(139)				(3,702)
Net cost of net debt												-
Minority interests												35
Net income												(3,667)
(a) Adjustments include special items, inventory valuation effect and equity share of adjustments related to Sanofi-Aventis.
(b) Of which inventory valuation effect
On operating income		-		(3,561)		(811)		-
On net operating income		-		(2,604)		(559)		-
(c) Of which equity share of adjustments related to Sanofi-Aventis		-		-		-		(166)
4th quarter 2008 (adjusted) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		6,925		27,746		4,012		31		-		38,714
Intersegment sales		4,097		810		207		15		(5,129)		-
Excise taxes		-		(5,009)		-		-		-		(5,009)
Revenues from sales		11,022		23,547		4,219		46		(5,129)		33,705
Operating expenses		(6,188)		(22,074)		(3,836)		(203)		5,129		(27,172)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,107)		(328)		(129)		(7)		-		(1,571)
Adjusted operating income		3,727		1,145		254		(164)		-		4,962
Equity in income (loss) of affiliates and other items		526		(16)		(2)		169		-		677
Tax on net operating income		(2,258)		(359)		(75)		108		-		(2,584)
Adjusted net operating income		1,995		770		177		113		-		3,055
Net cost of net debt												(129)
Minority interests												(53)
Ajusted net income												2,873
4th quarter 2008 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Total expenditures		3,283		972		477		26				4,758
Total divestments		270		18		20		635				943
Cash flow from operating activities		2,139		603		939		412				4,093

BUSINESS SEGMENT INFORMATION
TOTAL
Year 2009 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		16,072		100,518		14,726		11		-		131,327
Intersegment sales		15,958		3,786		735		156		(20,635)		-
Excise taxes		-		(19,174)		-		-		-		(19,174)
Revenues from sales		32,030		85,130		15,461		167		(20,635)		112,153
Operating expenses		(14,752)		(81,281)		(14,293)		(656)		20,635		(90,347)
Depreciation, depletion and amortization of tangible assets and mineral interests		(4,420)		(1,612)		(615)		(35)		-		(6,682)
Operating income		12,858		2,237		553		(524)		-		15,124
Equity in income (loss) of affiliates and other items		846		169		(58)		697		-		1,654
Tax on net operating income		(7,486)		(633)		(92)		326		-		(7,885)
Net operating income		6,218		1,773		403		499		-		8,893
Net cost of net debt												(264)
Minority interests												(182)
Net income												8,447
Year 2009 (adjustments) (a) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses		(17)		1,558		344		-				1,885
Depreciation, depletion and amortization of tangible assets and mineral interests		(4)		(347)		(40)		-				(391)
Operating income (b)		(21)		1,211		304		-				1,494
Equity in income (loss) of affiliates and other items (c)		(160)		22		(123)		(117)				(378)
Tax on net operating income		17		(413)		(50)		(3)				(449)
Net operating income (b)		(164)		820		131		(120)				667
Net cost of net debt												-
Minority interests												(4)
Net income												663
(a) Adjustments include special items, inventory valuation effect and equity share of adjustments and selected items related to Sanofi-Aventis.
(b) Of which inventory valuation effect
On operating income		-		1,816		389		-
On net operating income		-		1,285		254		-
(c) Of which equity share of adjustments and selected items related to Sanofi-Aventis		-		-		-		(300)
Year 2009 (adjusted) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		16,072		100,518		14,726		11		-		131,327
Intersegment sales		15,958		3,786		735		156		(20,635)		-
Excise taxes		-		(19,174)		-		-		-		(19,174)
Revenues from sales		32,030		85,130		15,461		167		(20,635)		112,153
Operating expenses		(14,735)		(82,839)		(14,637)		(656)		20,635		(92,232)
Depreciation, depletion and amortization of tangible assets and mineral interests		(4,416)		(1,265)		(575)		(35)		-		(6,291)
Adjusted operating income		12,879		1,026		249		(524)		-		13,630
Equity in income (loss) of affiliates and other items		1,006		147		65		814		-		2,032
Tax on net operating income		(7,503)		(220)		(42)		329		-		(7,436)
Adjusted net operating income		6,382		953		272		619		-		8,226
Net cost of net debt												(264)
Minority interests												(178)
Ajusted net income												7,784
Year 2009 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Total expenditures		9,855		2,771		631		92				13,349
Total divestments		398		133		47		2,503				3,081
Cash flow from operating activities		10,200		1,164		1,082		(86)				12,360

BUSINESS SEGMENT INFORMATION
TOTAL
Year 2008 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		24,256		135,524		20,150		46		-		179,976
Intersegment sales		25,132		5,574		1,252		120		(32,078)		-
Excise taxes		-		(19,645)		-		-		-		(19,645)
Revenues from sales		49,388		121,453		21,402		166		(32,078)		160,331
Operating expenses		(21,915)		(119,425)		(20,942)		(685)		32,078		(130,889)
Depreciation, depletion and amortization of tangible assets and mineral interests		(4,005)		(1,202)		(518)		(30)		-		(5,755)
Operating income		23,468		826		(58)		(549)		-		23,687
Equity in income (loss) of affiliates and other items		1,541		(158)		(34)		590		-		1,939
Tax on net operating income		(14,563)		(143)		76		315		-		(14,315)
Net operating income		10,446		525		(16)		356		-		11,311
Net cost of net debt												(358)
Minority interests												(363)
Net income												10,590
Year 2008 (adjustments) (a) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales		-		-		-		-				-
Operating expenses		-		(2,776)		(925)		-				(3,701)
Depreciation, depletion and amortization of tangible assets and mineral interests		(171)		-		(6)		-				(177)
Operating income (b)		(171)		(2,776)		(931)		-				(3,878)
Equity in income (loss) of affiliates and other items (c)		(164)		(195)		(82)		(345)				(786)
Tax on net operating income		57		927		329		(2)				1,311
Net operating income (b)		(278)		(2,044)		(684)		(347)				(3,353)
Net cost of net debt												-
Minority interests												23
Net income												(3,330)
(a) Adjustments include special items, inventory valuation effect and equity share of adjustments related to Sanofi-Aventis.
(b) Of which inventory valuation effect
On operating income		-		(2,776)		(727)		-
On net operating income		-		(1,971)		(504)		-
(c) Of which equity share of adjustments related to Sanofi-Aventis		-		-		-		(393)
Year 2008 (adjusted) (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Non-Group sales		24,256		135,524		20,150		46		-		179,976
Intersegment sales		25,132		5,574		1,252		120		(32,078)		-
Excise taxes		-		(19,645)		-		-		-		(19,645)
Revenues from sales		49,388		121,453		21,402		166		(32,078)		160,331
Operating expenses		(21,915)		(116,649)		(20,017)		(685)		32,078		(127,188)
Depreciation, depletion and amortization of tangible assets and mineral interests		(3,834)		(1,202)		(512)		(30)		-		(5,578)
Adjusted operating income		23,639		3,602		873		(549)		-		27,565
Equity in income (loss) of affiliates and other items		1,705		37		48		935		-		2,725
Tax on net operating income		(14,620)		(1,070)		(253)		317		-		(15,626)
Adjusted net operating income		10,724		2,569		668		703		-		14,664
Net cost of net debt												(358)
Minority interests												(386)
Ajusted net income												13,920
Year 2008 (M€)		Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Total expenditures		10,017		2,418		1,074		131				13,640
Total divestments		1,130		216		53		1,186				2,585
Cash flow from operating activities		13,765		3,111		920		873				18,669

CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)
TOTAL
(unaudited)
4th quarter 2009 (M€)		Adjusted		Adjustments		Consolidated statement of income
Sales		36,228		-		36,228
Excise taxes		(4,933)		-		(4,933)
Revenues from sales		31,295		-		31,295
Purchases net of inventory variation		(21,039)		449		(20,590)
Other operating expenses		(4,556)		(128)		(4,684)
Exploration costs		(237)		-		(237)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,644)		(283)		(1,927)
Other income		29		94		123
Other expense		(148)		(54)		(202)
Financial interest on debt		(111)		-		(111)
Financial income from marketable securities & cash equivalents		16		-		16
Cost of net debt		(95)		-		(95)
Other financial income		177		-		177
Other financial expense		(92)		-		(92)
Equity in income (loss) of affiliates		467		(83)		384
Income taxes		(2,032)		(13)		(2,045)
Consolidated net income		2,125		(18)		2,107
Group share		2,081		(16)		2,065
Minority interests		44		(2)		42
4th quarter 2008 (M€)		Adjusted		Adjustments		Consolidated statement of income
Sales		38,714		-		38,714
Excise taxes		(5,009)		-		(5,009)
Revenues from sales		33,705		-		33,705
Purchases net of inventory variation		(22,021)		(4,372)		(26,393)
Other operating expenses		(4,924)		(198)		(5,122)
Exploration costs		(227)		-		(227)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,571)		(177)		(1,748)
Other income		77		17		94
Other expense		(18)		(105)		(123)
Financial interest on debt		(298)		-		(298)
Financial income from marketable securities & cash equivalents		117		-		117
Cost of net debt		(181)		-		(181)
Other financial income		243		-		243
Other financial expense		(95)		-		(95)
Equity in income (loss) of affiliates		470		(439)		31
Income taxes		(2,532)		1,572		(960)
Consolidated net income		2,926		(3,702)		(776)
Group share		2,873		(3,667)		(794)
Minority interests		53		(35)		18

CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)
TOTAL
Year 2009 (M€)		Adjusted		Adjustments		Consolidated statement of income
Sales		131,327		-		131,327
Excise taxes		(19,174)		-		(19,174)
Revenues from sales		112,153		-		112,153
Purchases net of inventory variation		(73,263)		2,205		(71,058)
Other operating expenses		(18,271)		(320)		(18,591)
Exploration costs		(698)		-		(698)
Depreciation, depletion and amortization of tangible assets and mineral interests		(6,291)		(391)		(6,682)
Other income		131		183		314
Other expense		(315)		(285)		(600)
Financial interest on debt		(530)		-		(530)
Financial income from marketable securities & cash equivalents		132		-		132
Cost of net debt		(398)		-		(398)
Other financial income		643		-		643
Other financial expense		(345)		-		(345)
Equity in income (loss) of affiliates		1,918		(276)		1,642
Income taxes		(7,302)		(449)		(7,751)
Consolidated net income		7,962		667		8,629
Group share		7,784		663		8,447
Minority interests		178		4		182
Year 2008 (M€)		Adjusted		Adjustments		Consolidated statement of income
Sales		179,976		-		179,976
Excise taxes		(19,645)		-		(19,645)
Revenues from sales		160,331		-		160,331
Purchases net of inventory variation		(107,521)		(3,503)		(111,024)
Other operating expenses		(18,903)		(198)		(19,101)
Exploration costs		(764)		-		(764)
Depreciation, depletion and amortization of tangible assets and mineral interests		(5,578)		(177)		(5,755)
Other income		153		216		369
Other expense		(147)		(407)		(554)
Financial interest on debt		(1,000)		-		(1,000)
Financial income from marketable securities & cash equivalents		473		-		473
Cost of net debt		(527)		-		(527)
Other financial income		728		-		728
Other financial expense		(325)		-		(325)
Equity in income (loss) of affiliates		2,316		(595)		1,721
Income taxes		(15,457)		1,311		(14,146)
Consolidated net income		14,306		(3,353)		10,953
Group share		13,920		(3,330)		10,590
Minority interests		386		(23)		363

TOTAL S.A.
Capital 5.871.057.210 euros
542 051 180 R.C.S. Nanterre
www.total.com