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02

You are a foreign

tax resident

Dividends paid to an individual shareholder who is not a tax resident in France

are subject to withholding tax in France. Provided that applicable formalities

are complied with in accordance with the administrative guidelines issued by the

French tax authorities, the paying f inancial institution will levy a 12.8% withholding

tax on your dividends. Subject to applicable tax treaties, this rate is increased

to 75% for dividends paid outside of France in a non-cooperative country

or territory (NCCT), as def ined by the French Tax Code (Article 238-0 A).

The 12.8% withholding tax can be reduced or even eliminated if there is a tax

treaty between France and your country of residence.

YOUR DIVIDENDS ARE SUBJECT

TO A WITHHOLDING TAX

IN FRANCE

N.B. The French Finance Act for 2025 stipulates that, from January 1, 2026,

withholding tax will be levied at the rate applicable under domestic law when

dividends are paid to a person who is established or resident in an Overseas

Territory that has signed a tax treaty with France that does not provide for

or exempts such dividends from withholding tax. The shareholder, or

the paying institution acting on the shareholder's behalf, may then request

reimbursement from the tax authorities if all the required conditions are met

E D I T O R I A L T H E C O M P A N Y T H E T O T A L E N E R G I E S S H A R ET H E T A X A T I O N S H A R E H O L D E R R E L A T I O N S

TAXATION ON DIVIDENDS FOR SHARES

NOT HELD IN A PEA (CONTINUED)