CONSOLIDATED STATEMENT OF COMPREHENSIVE …

1 CONSOLIDATED STATEMENT OF INCOMETOTAL(M$) (a)1st quarter20184th quarter20171st quarter2017 Sales49,61147,35141,183 Excise taxes(6,319)(5,909)(5,090)Revenues from sales43,29241,44236,093 Purchases, net of inventory variation(29,446)(27,659)(23,987)Other operating expenses(6,937)(6,586)(6,166)Exploration costs(204)(287)(197)Depreciation, depletion and impairment of tangible assets and mineral interests(2,916)(5,691)(4,579)Other income5235122,325 Other expense(190)(570)(291)Financial interest on debt(390)(352)(331)Financial income and expense from cash & cash equivalents(41)(45)(11)Cost of net debt(431)(397)(342)Other financial income240240228 Other financial expense(170)(159)(160)Net income (loss) from equity affiliates484657548 income taxes(1,596)(772)(693) CONSOLIDATED net income2,6497302,779 Group share2,6361,0212,849 Non-controlling interests13(291)(70)Earnings per share ($) Fully-diluted earnings per share ($) (a) Except for per share amounts.

2 (unaudited)16 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMETOTAL(M$)1st quarter20184th quarter20171st quarter2017 CONSOLIDATED net income2,6497302,779 Other COMPREHENSIVE incomeActuarial gains and losses25794126 Change in fair value of investments in equity instruments7--Tax effect2(373)(41)Currency translation adjustment generated by the parent company2,1311,432940 Items not potentially reclassifiable to profit and loss2,1651,8531,025 Currency translation adjustment(362)(585)(200)Available for sale financial assets-3(1)Cash flow hedge178174113 Variation of foreign currency basis spread(29)--Share of other COMPREHENSIVE income of equity affiliates, net amount(168)(5)331 Other--3 Tax effect(48)(49)(39)Items potentially reclassifiable to profit and loss(429)(462)207 Total other COMPREHENSIVE income (net amount)1,7361,3911,232 COMPREHENSIVE income4,3852,1214,011 Group share4,3562,3854,074 Non-controlling interests29(264)(63)(unaudited)17 CONSOLIDATED BALANCE SHEETTOTAL(M$)March 31, 2018(unaudited)December 31, 2017(unaudited)March 31, 2017(unaudited)

3 ASSETSNon-current assetsIntangible assets, net24,50214,58714,048 Property, plant and equipment, net116,181109,397111,100 Equity affiliates : investments and loans22,33222,10321,638 Other investments1,7101,7271,381 Non-current financial assets1,154679877 Deferred income taxes5,5195,2064,766 Other non-current assets3,6333,9844,114 Total non-current assets175,031157,683157,924 Current assetsInventories, net17,00616,52014,985 Accounts receivable, net17,77414,89312,235 Other current assets14,82414,21013,955 Current financial assets2,2893,3933,971 Cash and cash equivalents30,09233,18527,526 Assets classified as held for sale-2,747413 Total current assets81,98584,94873,085 Total assets257,016242,631231.

4 009 LIABILITIES & SHAREHOLDERS' EQUITYS hareholders' equityCommon shares8,2077,8827,667 Paid-in surplus and retained earnings120,559112,040109,583 Currency translation adjustment(6,413)(7,908)(12,819)Treasury shares(1,166)(458)(600)Total shareholders' equity - Group share121,187111,556103,831 Non-controlling interests2,4992,4812,823 Total shareholders' equity123,686114,037106,654 Non-current liabilitiesDeferred income taxes11,94310,82810,936 Employee benefits3,7963,7353,711 Provisions and other non-current liabilities19,26815,98616,714 Non-current financial debt40,25741,34042,017 Total non-current liabilities75,26471,88973,378 Current liabilitiesAccounts payable24,83626,47921,633 Other creditors and accrued liabilities17,95217,77915,151 Current borrowings14,90911,09613.

5 582 Other current financial liabilities369245277 Liabilities directly associated with the assets classified as held for sale-1,106334 Total current liabilities58,06656,70550,977 Total liabilities & shareholders' equity257,016242,631231,009(unaudited)18 CONSOLIDATED STATEMENT OF CASH FLOWTOTAL(M$)1st quarter20184th quarter20171st quarter2017 CASH FLOW FROM OPERATING ACTIVITIESC onsolidated net income2,6497302,779 Depreciation, depletion, amortization and impairment3,0465,8574,660 Non-current liabilities, valuation allowances and deferred taxes114(44)(197)(Gains) losses on disposals of assets(125)(71)(2,232)Undistributed affiliates' equity earnings(259)(54)(295)(Increase) decrease in working capital(3,222)2,206(54)Other changes, net (122)(9)40 Cash flow from operating activities2,0818,6154,701 CASH FLOW USED IN INVESTING ACTIVITIESI ntangible assets and property, plant and equipment additions(5,665)(4,662)(2,678)Acquisitio ns of subsidiaries, net of cash acquired(726)(3)(319)Investments in equity affiliates and other securities(162)(231)(523)Increase in non-current loans(171)(207)(158)Total expenditures(6,724)(5,103)

6 (3,678)Proceeds from disposals of intangible assets and property, plant and equipment1,9789016 Proceeds from disposals of subsidiaries, net of cash sold32132,696 Proceeds from disposals of non-current investments18859 Repayment of non-current loans416348187 Total divestments2,5851,4672,898 Cash flow used in investing activities(4,139)(3,636)(780)CASH FLOW USED IN FINANCING ACTIVITIESI ssuance (repayment) of shares: - Parent company shareholders93315 - Treasury shares(558)--Dividends paid: - Parent company shareholders(1,516)(643)(538) - Non-controlling interests(12)(54)(15)Issuance of perpetual subordinated notes---Payments on perpetual subordinated notes(150)(57)(129)Other transactions with non-controlling interests-(2)-Net issuance (repayment) of non-current debt(2,480)1,53156 Increase (decrease) in current borrowings1,707(878)(1,413)Increase (decrease) in current financial assets and liabilities1,155(916)658 Cash flow used in financing activities(1,845)(986)(1,366)Net increase (decrease) in cash and cash equivalents(3,903)

7 3,9932,555 Effect of exchange rates810609374 Cash and cash equivalents at the beginning of the period33,18528,58324,597 Cash and cash equivalents at the end of the period30,09233,18527,526(unaudited)19 CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITYTOTAL (M$)NumberAmountNumberAmountAs of January 1, 20172,430,365,8627,604105,547(13,871)(10 ,587,822)(600)98,6802,894101,574 Net income of the first quarter 2017--2,849---2,849(70)2,779 Other COMPREHENSIVE income --1731,052--1,22571,232 COMPREHENSIVE income --3,0221,052--4,074(63)4,011 Dividend-------(15)(15)Issuance of common shares23,571,85263987---1,050-1,050 Purchase of treasury shares---------Sale of treasury shares (1)---- -- ---Share-based payments--44---44-44 Share cancellation---------Other operations with non-controlling interests--(6)---(6)6-Other items--58---58159As of march 31, 20172,453,937,7147,667109,583(12,819)(10 ,587,822)(600)103,8312,823106,654 Net income from April 1 to December 31, 2017--5,782---5,782(262)5,520 Other COMPREHENSIVE income --5454,911--5,456375,493 COMPREHENSIVE income --6,3274,911--11,238(225)11,013 Dividend--(6,992)---(6,992)

8 (126)(7,118)Issuance of common shares75,051,9022153,444---3,659-3,659 Purchase of treasury shares---------Sale of treasury shares (1)--(142)-2,211,066142---Share-based payments--107---107-107 Share cancellation---------Issuance of perpetual subordinated notes---------Payments on perpetual subordinated notes--(233)---(233)-(233)Other operations with non-controlling interests--(2)---(2)(2)(4)Other items--(52)---(52)11(41)As of December 31, 20172,528,989,6167,882112,040(7,908)(8,3 76,756)(458)111,5562,481114,037 Net income of the first quarter 2018--2,636---2,636132,649 Other COMPREHENSIVE income --2251,495--1,720161,736 COMPREHENSIVE income --2,8611,495--4,356294,385 Dividend-------(12)(12)Issuance of common shares104,830,5513255,675---6,000-6,000 Purchase of treasury shares----(12,471,369)(708)(708)-(708)Sa le of treasury shares (1)---- -- ---Share-based payments--129---129-129 Share cancellation---------Issuance of perpetual subordinated notes---------Payments on perpetual subordinated notes--(81)---(81)-(81)

9 Other operations with non-controlling interests--(4)---(4)4-Other items--(61)---(61)(3)(64)As of march 31, 20182,633,820,1678,207120,559(6,413)(20, 848,125)(1,166)121,1872,499123,686(1) Treasury shares related to the restricted stock shareholders' equityShareholders' equity - Group shareCommon shares issuedTreasury sharesPaid-in surplus and retained earningsCurrency translation adjustmentNon-controlling interests20 BUSINESS SEGMENT INFORMATIONTOTAL(unaudited)1st quarter 2018(M$)Exploration & ProductionGas, Renewables & PowerRefining & ChemicalsMarketing