2013 Analyst Meeting New York Stock Exchange March 6, 2013
Agenda 9 AM Welcome David Rosenthal, Vice President, Investor Relations Corporate Overview Business Overview Rex Tillerson, Chairman and CEO Strategic Overview Upstream Downstream and Chemical Mike Dolan, Senior Vice…
Corporate Overview Rex Tillerson Chairman and CEO
Key Messages Risk management is fundamental to our business Continued strong financial and operating results Major project start-ups drive volume growth for 2013 2017 Portfolio of opportunities for long-term profitable growth…
2012 Results Strong results across key financial and non-financial parameters Strong industry safety performance Rigorous environmental management Superior financial / operating results Earnings 44.9B ROCE 25.4% Cash flow from…
Risk Management Risk management is fundamental to our business Well-developed and clearly-defined policies and procedures Management accountability High standards Employee and contractor training Rigorously applied systems…
Safety Safety performance improved versus 2011 Lost Time Incident Rate Incidents per 200K hours Our vision: Nobody Gets Hurt 0.2 Employee Emphasis on personnel and process Contractor U.S. petroleum safety risk industry employee…
Environmental Performance Committed to reducing environmental impact Hydrocarbon Flaring from Upstream Oil & Gas Production Strong environmental management Million metric tons 8 Improving energy efficiency 6 Reducing flaring,…
Earnings Earnings of 44.9B in 2012, an increase of 9% over 2011 Earnings Excluding Special Items B Upstream Strong performance across all 50 Downstream business lines Chemical Total earnings 40 Leveraging integration advantages 30…
Upstream Earnings per Barrel Managing the Upstream portfolio to improve earnings per barrel Earnings per OEB* /OEB Current asset mix impacting results 30 in the short term 25 CVX Plans in place to maximize value 20 XOM RDS…
Return on Capital Employed Proven business model continues to deliver ROCE leadership Return on Average Capital Employed* Percent ROCE of 25.4% in 2012 30 25 2012 08 12, average Investments position long-term performance 20…
Free Cash Flow Superior cash flow provides investment and distribution flexibility Total Free Cash Flow* B, cumulative 08 12 Funded attractive investment 140 opportunities 120 Generated free cash flow of 138B 100 since beginning of…
Unmatched Shareholder Distributions Industry-leading shareholder distributions Shareholder Distributions* B, cumulative 08 12 Total shareholder distributions of 160 145 billion 140 Share reductions Higher than competitors combined 120…
Distribution Yield Industry-leading shareholder distributions Distribution Yield* Percent, dividends and share repurchases, 08 12 Total distribution yield of 29% since beginning of 2008 35 Nearest competitor at 23% 30 25 Average…
Increasing Ownership Enhanced per-share interest in ExxonMobil production Production Growth per Share* Indexed growth, 08 12 Each share has an interest in 21% more production volumes 130 120 XOM Annualized production growth per…
Share Performance Long-term performance exceeds competitor average and S&P 500 Shareholder Returns K, value of 1,000 invested (as of YE 2012) Financial results and stock market returns best viewed over long term 12 ExxonMobil Reflects…
Business Overview Rex Tillerson Chairman and CEO
Business Environment Global environment offers a broad mix of challenges and opportunities Near-term economic growth remains sluggish with risks persisting in the OECD Developing economies show signs of stabilizing after slowdown in…
Energy Demand to 2040 Global energy demand expected to grow about 35% by 2040 Energy Demand Quadrillion BTUs Average annual growth rate Mix gradually shifts with oil and 225 0.8% 2010 to 2040 natural gas remaining prominent 2040…
Developing Economies Lead Growth Asia Pacific demand accounts for close to 60% of global increase Non-OECD Countries* OECD Countries Quadrillion BTUs Quadrillion BTUs 500 500 Other Biomass 400 400 Nuclear 300 Coal 300 200 Gas…
Liquids and Gas Supplies Expand and Diversify Advances in technology enable growth from unconventional resources Liquids Gas MOEBD BCFD 120 720 Other liquids 100 NGLs 600 Rest of World Oil sands unconventional 80 Tight oil 480…
Transportation Product Demand Diesel will surpass gasoline as the number one transportation fuel Global Demand MOEBD Transportation product mix will shift 75 as demand rises more than 40% Other Natural gas 60 Fuel oil Jet fuel…
Global Chemical Demand Chemical demand growth driven by Asia Pacific Global Chemical Demand* Million metric tons Demand growth above GDPs as 250 standards of living improve Rest of World Two-thirds of growth in Asia Pacific Asia…
The Energy Challenge Meeting the worlds growing energy needs safely and responsibly Requires an abundance of diverse, reliable, and affordable supplies Demands a commitment to innovation and technology Requires access to high-quality…
Strategic Overview Rex Tillerson Chairman and CEO
Key Elements of ExxonMobil Strategy Best-in-class Upstream, Downstream, and Chemical businesses Effective risk management, safety, and operational excellence Integrated business model Disciplined processes World-class assets across…
Upstream Rex Tillerson Chairman and CEO
Leading Upstream Business Consistent execution of strategy delivers long-term value Industry-leading capabilities Successful track record of developing best-in-class resources Positioned for sustained growth Intense focus on…
Leading Deepwater Capability Transformed frontier acreage to large-scale production Identified and captured high-quality acreage Cost-effective hub and satellite development Angola-operated Design one, build multiple gross…
Leading Deepwater Capability New Developments - Gulf of Mexico Applying expertise to 1.7 million acres in the Gulf of Mexico Lucius and Hadrian South projects progressing toward 2014 start-up Hadrian North appraisal drilling Julia…
Leading LNG Capability Commercialized worlds largest gas field via LNG with Qatar Petroleum Developing and applying high-impact technologies Multiple industry firsts Economies of scale across value chain Developing emerging LNG…
Leading LNG Capability New Developments - Papua New Guinea Applying global LNG experience and project execution capabilities High-quality 9 TCF resource Two-train 6.9 MTA LNG plant On schedule for start-up in 2014 Adding resource…
Leading Oil Sands / Heavy Oil Capability High-quality resources and enabling technologies deliver long-term value Premier portfolio of long-plateau volumes Enabling technologies improve recoveries and reduce environmental impact Cold…
Leading Oil Sands Capability New Developments - Kearl Long-life resource begins production Facility start-up 1Q 2013 Proprietary technology Long-term plateau production Expansion project execution in progress 30% complete 34
Leading Arctic Capability Over 90 years of technology innovation in the Arctic Arctic-like conditions ExxonMobil interest & field 2012 program experience 1920 2005 1969 2002 1970s 1997 19841969 35
Leading Arctic Capability New Developments - Sakhalin and Hebron Applying proven arctic capabilities to progress additional developments Sakhalin Arkutun-Dagi Gravity-based structure complete Topsides fabrication in progress On…
Leading Unconventional Capability Unmatched position in unconventional plays in North America Shale gas Summit Creek 445K Shale oil Horn River (incl. liquids rich) 340K Tight gas Athabasca 720K Tight oil Cardium Montney /…
Leading Unconventional Capability Expanding Liquids-Rich Position Leading position in major plays drives significant liquids growth U.S. Liquids-Rich Plays Drillwell inventory 12,000 Ardmore Permian Woodford Ardmore Bakken 1.5 BOEB…
Leading Unconventional Capability Operational Excellence Driving down costs and increasing recovery Barnett Wells drilled / rig / year 30 21.4 25.1 29.3 Consistent increase in wells per rig 19.7 year yields reduction in drilling…
2013 2017 Production growth Major project start-ups deliver significant volume growth Continued development of resource base Adding 1 MOEBD net by 2017 Significant growth in liquids and liquids-linked gas 40
2013 2017 Production Growth Resource Base 87 BOEB delivering today, positioning for tomorrow Resource Base BOEB Large, diverse, and well-balanced 90 portfolio of assets Heavy oil Oil sands Future 25 BOEB proved reserves current…
2013 2017 Production Growth Projects Delivering Volume Growth 31 major project start-ups between 2012 and 2017 Deepwater LNG Conventional LNG Angola Satellites Papua New Guinea Banyu Urip Gorgon Jansz Conventional Arctic…
2013 2017 Production Growth Major Project Production Outlook Major projects deliver liquids and liquids-linked volume growth Major Project Production Outlook* MOEBD Over 1 MOEBD net added by 2017 90% liquids + liquids-linked…
2013 2017 Production Growth Upstream Production Outlook 2 3% growth per year through 2017 strong contribution from liquids Liquids outlook Total Production Outlook* 2013: up 2% MOEBD 2013 2017: up 4% per year 2.8 Liquid MBD…
Long-Term Growth Opportunities Well positioned for sustained long-term growth Successful exploration results Deep and robust inventory Adding quality acreage in proven and emerging plays 46
Growth Opportunities New Opportunity Growth Growing global portfolio of high-quality resource opportunities Beaufort Chukchi Sea Faroe Islands Kara Sea Laptev Sea Ireland Ukraine Russian Black Sea Vietnam Guyana Play…
Growth Opportunities New Opportunity Growth Growing global portfolio of high-quality resource opportunities Beaufort Chukchi Sea Faroe Islands Kara Sea Laptev Sea Norway Ireland Ukraine Romania Russian Black Sea Iraq Gulf of…
Growth Opportunities New Opportunity Growth Growing global portfolio of high-quality resource opportunities Beaufort Chukchi Sea Faroe Islands Kara Sea Laptev Sea Summit Creek Norway Horn River Germany West Siberia Athabasca…
Growth Opportunities Kara Sea Significant new exploration position in prospective Arctic 31 million acres in Kara Sea Completed large field program Completed definitive agreements Expect to start drilling in 2014 50
Growth Opportunities Russian Arctic Expanding strong partnership between ExxonMobil and Rosneft SCA licenses Expanded SCA licenses Expansion of Strategic Cooperation Agreement Additional 150 million acres Blocks among most…
Growth Opportunities Black Sea Established strong position in emerging new hydrocarbon province Deep 52
Growth Opportunities Tanzania Bringing industry-leading capability to a new frontier basin ExxonMobil Drilled three successful wells in 2012 interest Appraising Zafarani and Lavani Continuing exploration activities Zafarani-1…
Upstream Summary Upstream business is well positioned for sustained growth Successful track record of developing best-in-class resources and projects Near-term project start-ups deliver significant volume growth Continuing to…
Downstream and Chemical Mike Dolan Senior Vice President
Premier Downstream and Chemical Businesses Downstream/Chemical manufacturing assets 56
Premier Downstream and Chemical Businesses Largest global refiner Largest manufacturer of lube basestocks A leading global chemical company Developer of industry-shaping technologies Unique-to-industry modeling tools for value…
Premier Downstream and Chemical Businesses Operational excellence Best-in-class operations Operating flexibility and optimization tools Technology-enabled, high-value product growth Industry-leading portfolio Balanced suite of…
Operational Excellence Operational metrics favorable versus competitors Strong reliability Steam cracker utilizations 1 2% above average Advantaged cost position Refining unit costs 10% lower than average Technology…
North America Mid-Continent Advantage Maximizing value via integrated and flexible refining circuit Mid-Continent* Equity Refining Capacity KBD A leader in mid-continent refining Major integrated Refiners capacity 600 Benefiting from…
U.S. Gulf Coast Refining Optimization Maximizing value via integrated and flexible refining circuit Advantaged Crude Processing Volume, indexed Flexible integrated circuit capturing heavy and light crude opportunities 400 Light…
Chemical Optimization Ethane Feedstock flexibility capitalizes on changing price environment ExxonMobil U.S. Ethane Earnings Contribution Earnings, indexed 17-fold increase in earnings contribution since 2007 2,000 1,500 Unmatched…
High-Value Product Growth Continual pursuit of high-value growth Mobil 1 Sales Volume, indexed Industry leader in basestocks and 250 synthetic lubricants 200 Pioneered synthetic lubricant technology with premier Mobil 1 150 Doubled…
Poised to Capture Growth Downstream/Chemical manufacturing assets 65
Strengthening the Portfolio Maximizing shareholder value through disciplined asset management Downstream + Chemical Global Asset Sales and Restructuring (2003 - 2012) Ref. / Chem. Plants 35 Pipeline Miles 6.5 k Terminals 193…
Investing for Growth Downstream Manufacturing Finland Lube Blending Singapore Hydrotreater 67
Investing for Growth Downstream Manufacturing Finland Lube Blending Singapore Hydrotreater Chemical Manufacturing Baytown Cracker Saudi Elastomers Singapore Parallel Train 68
Industry-Leading Returns Downstream and Chemical businesses outperform across the cycle Downstream and Chemical Combined ROCE Percent Industry-leading financial performance 45 40 Operational excellence 35 Best-in-class operations 30…
2013 Analyst Meeting Break
Summary Rex Tillerson Chairman and CEO
Investment Plan Committed to investing through the business cycle Capex by Business Line B Upstream Expect to spend average of 50 Downstream about 38 billion per year from Chemical 2013 to 2017 40 30 Plan to invest approximately…
ExxonMobil Strengths Relentless focus on maximizing long-term shareholder value Strong financial and operating performance Balanced portfolio Disciplined investing High-impact technologies Operational excellence Global…
Key Messages Risk management is fundamental to our business Continued strong financial and operating results Major project start-ups drive volume growth for 2013 2017 Portfolio of opportunities for long-term profitable growth…
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