South Africa: Total Sells Its Coal Mining Assets to Exxaro

  South Africa: Total Sells Its Coal Mining Assets to Exxaro

Business Wire

PARIS -- July 28, 2014

Regulatory News :

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has signed an agreement with
ExxaroResourcesLtd for the sale of its 100% stake in Total Coal South Africa
(TCSA), its coal-producing affiliate in South Africa. The consideration for
the transaction is $472 million, with completion of the sale subject to
approval by the relevant South African authorities.

“This sale is part of the Group’s 2012-14 asset sale program and is in line
with Total’s objectives to focus on its core activities and to actively manage
its portfolio”, said Philippe Sauquet, President Gas & Power, Total. “While
Total has made the necessary investments to position TCSA for growth in the
medium term, Total believes TCSA will have the opportunity to maximize its
long term potential with a new strategic coal investor. Total remains
committed to South Africa, through its activities in marketing and refining,
solar and deep offshore exploration.”

TCSA operates three coal production complexes in the Witbank/Highveld
Coalfields and has a majority interest in a significant prospecting project
located in the same area. It is also a shareholder of the Richards Bay Coal
Terminal to which these mines are connected through a railway line. In 2013,
TCSA’s sales of high quality thermal coal were 4.5 million tons, of which 95%
was exported to international markets, making TCSA the 5^th largest coal
exporter in South Africa.

Total in South Africa

Present in South Africa since 1954, the Group is now the country’s
fifth-ranked marketer of petroleum products, with sales of 3.1 million tons
per year, a network of 528 service stations, its biggest outside Europe, and a
36.6% interest in the Natref refinery alongside Sasol. Total is also South
Africa’s third-ranked LPG marketer.

Total’s solar affiliate, SunPower, is active in ground-mounted solar power
plants and off-grid solar facilities in South Africa. It is currently building
two solar power plants near Douglas, in the Northern Cape. Total is also
implementing decentralized rural electrification programs through KwaZulu
Energy Services.

In the Upstream, Total operates Block 11B/12B, where it recently commenced
operations on the first exploration well in the deep offshore Outeniqua Basin.

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Total is one of the largest integrated oil and gas companies in the world,
with activities in more than 130countries. The Group is also a first rank
player in chemicals. Its 98,800employees put their expertise to work in every
part of the industry – exploration and production of oil and natural gas,
refining and marketing, new energies, trading, and chemicals. Total is working
to help satisfy the global demand for energy, both today and tomorrow.

Capital : 5945861 837,50 €
542 051 180 R.C.S. Nanterre


Tel. : + 44 (0)207 719 7962
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