FIFTH SUPPLEMENT DATED 26 FEBRUARY 2016 TO THE DEBT ISSUANCE PROGRAMME PROSPECTUS DATED 21 APRIL 2015 TOTAL S.A., TOTAL CAPITAL, TOTAL CAPITAL CANADA LTD. and TOTAL CAPITAL INTERNATIONAL 30,000,000,000 Euro Medium Term Note Programme Due from seven days from the date of original issue This supplement (the Fifth Supplement ) is supplemental to, and should be read in conjunction with, the Debt Issuance Programme Prospectus dated 21 April 2015 (the Prospectus ), the First Supplement thereto dated 12 May 2015 (the First Supplement ), the Second Supplement thereto dated 31 July 2015 (the Second Supplement ), the Third Supplement thereto dated 4 November 2015 (the Third Supplement ) and the Fourth Supplement thereto dated 16 February 2016 (the Fourth Supplement ) (together, the Debt Issuance Programme Prospectus ), which has been prepared by Total S.A., Total Capital, Total Capital International and Total Capital Canada Ltd. (the Issuer or Issuers, as the case may be) in relation to the 30,000,000,000 Euro Medium Term Note Programme (the Programme ). The Debt Issuance Programme Prospectus constitutes a base prospectus for the purposes of Article 5.4 of Directive 2003/71/EC (the Prospectus Directive ). The Autorité des marchés financiers (the AMF ) granted the Prospectus visa no. 15-160 on 21 April 2015, the First Supplement visa no. 15-198 on 12 May 2015, the Second Supplement visa no. 15-433 on 31 July 2015, the Third Supplement visa no. 15-562 on 4 November 2015 and the Fourth Supplement visa no 16-052 on 16 February 2016. Application has been made for approval of the Fifth Supplement to the AMF in its capacity as competent authority pursuant to Article 212-2 of its Règlement Général which implements the Prospectus Directive in France. Unless the context otherwise requires, terms defined in the Debt Issuance Programme Prospectus shall have the same meaning when used in this Fifth Supplement. To the extent that there is any inconsistency between (a) any statement in this Fifth Supplement or any statement incorporated by reference into this Fifth Supplement and (b) any statement in, or incorporated by reference in the Debt Issuance Programme Prospectus, the statements referred to in (a) above will prevail. This Fifth Supplement constitutes a supplement to the Debt Issuance Programme Prospectus for the purposes of Article 16 of the Prospectus Directive and has been prepared in accordance with Article 16.1 of the Prospectus Directive and Article 212-25 of the AMF s Règlement Général for the purpose of: (a) (b) reflecting the rating downgrade by Standard & Poor s Rating Services of the long- and short-term corporate credit rating of Total S.A. from AA- and A-1+ to A+ and A-1, respectively; and updating the summary section in English and the résumé in French to reflect such updated information. PARIS 3553585 v2 (2K)
Copies of this Fifth Supplement (a) may be obtained, free of charge, at the registered office of Total S.A. during normal business hours, (b) will be available on the website of Total S.A. (www.total.com), (c) will be available on the website of the AMF (www.amf-france.org) and (d) will be available for collection free of charge on any weekday (Saturdays, Sundays and public holidays excepted) at the specified offices of the Fiscal Agent and each Paying Agent during normal business hours so long as any of the Notes are outstanding. In relation to any offer of Notes to the public, and provided that the conditions of article 16(2) of the Prospectus Directive are fulfilled, investors who have already agreed to purchase or subscribe for Notes to be issued under the Programme before this Fifth Supplement is published have the right, according to article 16(2) of the Prospectus Directive, to withdraw their acceptances within a time limit of two (2) working days after the publication of this Fifth Supplement, i.e. until by no later than 1 March 2016. 2
TABLE OF CONTENTS Page RATINGS... 4 SUMMARY... 5 RÉSUMÉ EN FRANÇAIS... 6 PERSONS RESPONSIBLE FOR THE INFORMATION GIVEN IN THE FIFTH SUPPLEMENT... 7 3
RATINGS Further to the rating downgrade by Standard & Poor s Rating Services of the long- and short-term corporate credit rating of Total S.A., the first sentence of the eighth paragraph of the cover page of the Debt Issuance Programme Prospectus shall be deleted and shall be replaced by the following: The Programme has been rated A+ for long term debt and A-1 for short term debt by Standard & Poor s Rating Services ( S&P ) and Aa1 for long term debt and Prime -1 for short term debt by Moody s Investors Services Limited ( Moody s ). 4
SUMMARY The section entitled Credit ratings relating to the Notes in part B.17 of the Summary on pages 9 to 10 of the Debt Issuance Programme Prospectus is hereby deleted and replaced in its entirety with the following: B.17 Credit ratings relating to the Notes The Programme has been rated A+ for long term debt and A-1 for short term debt by Standard & Poor s Rating Services ( S&P ) and Aa1 for long term debt and Prime -1 for short term debt by Moody s Investors Services Limited ( Moody s ). The credit ratings included or referred to in this Debt Issuance Programme Prospectus will be treated for the purposes of Regulation (EC) No 1060/2009 (as amended) on credit rating agencies (the CRA Regulation ) as having been issued by Moody s and S&P upon registration pursuant to the CRA Regulation. Moody s and S&P are established in the European Union and registered under the CRA Regulation. Each of S&P and Moody s is included in the list of registered credit rating agencies published by the European Securities and Markets Authority on its website (http://www.esma.europa.eu/page/list-registered-and-certified-cras ) in accordance with the CRA Regulation. Tranches of Notes issued under the Programme may be rated or unrated. Where a tranche of Notes is rated, such rating will not necessarily be the same as the ratings assigned to the Programme. Where a tranche of Notes is rated, such rating will be specified in the relevant Final Terms. Whether or not a rating in relation to any Tranche of Notes will be treated as having been issued by a credit rating agency established in the European Union and registered under the CRA Regulation will also be disclosed in the relevant Final Terms. A security rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency. Ratings can come under review at any time by rating agencies. Investors are invited to refer to the websites of the relevant rating agencies in order to have access to the latest ratings (respectively: http://www.standardandpoors.com and http://www.moodys.com). [Issue specific summary: Credit ratings: [Not Applicable/The Notes to be issued have been rated: Standard & Poor s: [ ] Moody s: [ ] ] 5
RÉSUMÉ EN FRANÇAIS The section entitled Notations assignées à l Emetteur ou à ses titres d emprunt in part B.17 of the Résumé on pages 29 and 30 of the Debt Issuance Programme Prospectus is hereby deleted and replaced in its entirety with the following: B.17 Notations assignées à l Emetteur ou à ses titres d emprunt Le Programme a fait l objet d une notation «A+» pour la dette long terme et «A-1» pour la dette court terme par Standard & Poor s Rating Services («S&P») et «Aa1» pour la dette long terme et «Prime -1» pour la dette court terme par Moody s Investors Services Limited («Moody s»). Les notations insérées ou dont il est fait référence dans le présent Prospectus du Programme d Emission de Titres de Créance seront traitées pour les besoins du Règlement (CE) N 1060/2009 (tel que modifié) relatif aux agences de notation (le «Règlement CRA») comme ayant été émises par S&P et Moody s lors de leur enregistrement conformément au Règlement CRA. Moody s et S&P sont des agences de l Union Européenne et enregistrées conformément au règlement CRA. Tant S&P que Moody s sont référencées dans la liste des agences de notation enregistrées publiée sur le site internet de l ESMA (European Securities and Markets Authority) (http://www.esma.europa.eu/page/list-registered-and-certified-cras) conformément au Règlement CRA. Les tranches de Titres émises dans le cadre de ce Programme pourront faire l objet d une notation. Lorsqu une tranche de Titres fait l objet d une notation, cette dernière ne sera pas nécessairement celle qui a été attribuée au Programme. Lorsqu une tranche fait l objet d une notation, celle-ci sera indiquée dans les Conditions Définitives applicables. Les Conditions Définitives applicables préciseront si la notation relative à une tranche de Titres sera considérée comme émise par une agence de notation de l Union Européenne et enregistrée conformément au Règlement CRA. Une notation ne constitue pas une recommandation d achat, de vente ni de détention de titres et peut à tout moment être suspendue, modifiée, ou faire l objet d un retrait par l agence de notation concernée. Les notations peuvent être revues à tout moment par les agences de notation. Les Investisseurs sont invités à se référer au site internet de l agence de notation concernée afin d accéder aux dernières notations (respectivement : http://www.standardandpoors.com and http://www.moodys.com). [Résumé spécifique à l émission: Notation : [Sans objet/les Titres à émettre ont fait l objet d une notation: Standard & Poor s: [ ] Moody s: [ ]] 6
PERSONS RESPONSIBLE FOR THE INFORMATION GIVEN IN THE FIFTH SUPPLEMENT To the best of TOTAL S.A. s knowledge (having taken all reasonable care to ensure that such is the case), the information contained in this Fifth Supplement is in accordance with the facts and contains no omission likely to affect its import. TOTAL S.A. 2, place Jean Millier, La Défense 6 92400 Courbevoie, France Duly represented by: Humbert de Wendel, Group Treasurer of Total S.A. on 26 February, 2016 To the best of TOTAL CAPITAL s knowledge (having taken all reasonable care to ensure that such is the case), the information contained in this Fifth Supplement is in accordance with the facts and contains no omission likely to affect its import. TOTAL CAPITAL 2, place Jean Millier, La Défense 6 92400 Courbevoie, France Duly represented by: Humbert de Wendel on behalf of Total Finance Corporate Services Limited, Director of Total Capital on 26 February, 2016 To the best of TOTAL CAPITAL CANADA s knowledge (having taken all reasonable care to ensure that such is the case), the information contained in this Fifth Supplement is in accordance with the facts and contains no omission likely to affect its import. TOTAL CAPITAL CANADA LTD. 2900, 240-4th Avenue S.W. Calgary, Alberta, T2P 4H4, Canada Duly represented by: Humbert de Wendel, President of Total Capital Canada on 26 February, 2016 To the best of TOTAL CAPITAL INTERNATIONAL s knowledge (having taken all reasonable care to ensure that such is the case), the information contained in this Fifth Supplement is in accordance with the facts and contains no omission likely to affect its import. TOTAL CAPITAL INTERNATIONAL 2, place Jean Millier, La Défense 6 92400 Courbevoie, France Duly represented by: Humbert de Wendel on behalf of Total Finance Corporate Services Limited, Director of Total Capital International on 26 February, 2016 7
Autorité des marchés financiers In accordance with Articles L. 412-1 and L. 621-8 of the French Code monétaire et financier and with the General Regulations (Réglement Général) of the Autorité des marchés financiers ( AMF ), in particular Articles 212-31 to 212-33, the AMF has granted to this Fifth Supplement the visa no. 16-061 on 26 February, 2016. This document and the Debt Issuance Programme Prospectus may only be used for the purposes of a financial transaction if completed by Final Terms. It was prepared by the Issuer and its signatories assume responsibility for it. In accordance with Article L. 621-8-1-I of the French Code monétaire et financier, the visa was granted following an examination by the AMF of "whether the document is complete and comprehensible, and whether the information it contains is coherent". It does not imply that the AMF has verified the accounting and financial data set out in it or the appropriateness of the issue of any Notes. This visa has been granted subject to the publication of Final Terms in accordance with Article 212-32 of the AMF's General Regulations, setting out the terms of the securities being issued. 8