127

TANGIBLE FIXED ASSETS, INTANGIBLE ASSETS AND LONG-TERM FINANCIAL INVESTMENT IN ASSOCIATED COMPANIES Breakdown by Business Segments (Millions of euros)

2017 2016 (Restated)*

2015

Trading 0.8 0.4 1 Corporation 15.1 12 26 Exploration & Production 169.9 172 543 Refining 280.9 208 177 Marketing 283.7 85 104 Petrochemicals 116.2 86 172 Technology, Gas & Power 20.9 8 28

Total Investments 887.5 572 1,052

STATEMENT OF CASH FLOWS FROM THE YEAR Ended December 31 (Millions of euros)

2017 2016 (Restated)*

2015

Cash Flows from Operating Activities Cash flows from operating activities (before changes in working capital) 1,741 1,143 876

Changes in operating working capital (651) 212 783 Total cash flows from operating activities 1,092 1,355 1,659

Cash flows used in investing activities Capital expenditure (715) (695) (1,151) Capital grants received - 1 - Proceeds from assets sales 107 542 255 Investments due to changes in the Group Total Cash flows used in investing activities (608) (153) (896)

Cash flows from financing activities Changes in short or long term loans (887) (797) (590) Cash dividend paid (339) (344) (339) Total cash flows (used in) / form financing activities (1,226) (1,141) (929) Total net increase/ (decrease) in cash and cash equivalents (743) 62 (165)

* Financial year 2016 has been restated for comparison purposes with financial year 2017.

2017 ANNUAL AND CORPORATE RESPONSIBILITY REPORT