Fourth Quarter 2011 Earnings Conference Call and Webcast 2011 Analyst Meeting January 31, 2012 David Rosenthal Vice President Investor Relations & Secretary 1
Business Environment Global economic recovery was slower in the quarter largely due to weakness in Europe Improvement in the United States and Japan was tempered by a decline in the European Union Non-OECD growth generally remains…
4Q11 Financial Results Achieved strong results while continuing to invest for the long-term Earnings (effective tax rate of 47%) 9.4 Earnings Per Share Diluted (dollars) 1.97 Shareholder Distributions 7.2 CAPEX 10.0 Cash Flow…
4Q11 Sources and Uses of Funds Superior cash generation provides ability to fund robust projects, return cash to shareholders, and maintain financial flexibility Beginning Cash / Marketable Securities 11.3 Earnings 9.4 Depreciation…
2011 Financial Results Delivered superior results and maintained financial strength while building shareholder value Earnings (effective tax rate of 46%) 41.1 Earnings Per Share Diluted (dollars) 8.42 Shareholder Distributions…
2011 Sources and Uses of Funds Strong operating performance and ongoing asset management program led to superior cash generation Beginning Cash / Marketable Securities 8.5 Earnings 41.1 Depreciation 15.6 66.5 Working Capital /…
Total Earnings 4Q11 vs. 4Q10 Earnings increased 150M reflecting higher oil and gas realizations, offset by lower margins in Downstream and Chemical Millions of Dollars 1,349 (725) (524) 9,250 50 9,400 4Q10 U/S D/S Chem C&F 4Q11…
Total Earnings 4Q11 vs. 3Q11 Earnings were down 930M primarily due to lower industry refining and chemicals margins Millions of Dollars 435 (1,154) 10,330 (460) 249 9,400 3Q11 U/S D/S Chem C&F 4Q11 Note: earnings exclude…
Total Earnings 2011 vs. 2010 Full-year earnings were up 10.6B due to higher oil and gas realizations and improved industry refining margins Millions of Dollars 10,342 892 (530) (104) 41,060 30,460 2010 U/S D/S Chem C&F 2011…
Major Projects Continued to advance global portfolio of high-quality projects Angola Kizomba Satellites Project on schedule for mid-2012 startup PNG LNG progressing towards 2014 startup Indonesia Banyu Urip project awarded…
Kearl Oil Sands Project Developing high-quality Kearl resource Kearl Initial Development 87% complete On schedule for late 2012 startup Initial production targeted at 110 kbd Kearl Expansion Project Funded in the fourth…
Exploration ExxonMobil maintains a balanced global exploration portfolio Continuing with active exploration drilling program across the globe Drilling new deepwater plays in Romania and Tanzania Moved deepwater rig to Nigeria…
Unconventional Liquids Growing portfolio of high potential unconventional assets Woodford Ardmore: 8 operated rigs, completed 31 wells in 2011 in liquids-rich play Bakken: 7 operated rigs with 27% growth in liquids production in…
Targeted Downstream Investments Continue to expand production of higher-value products Investing in lower-sulfur fuel capacity for growing markets Sriracha Refinery project was completed in 2011 Expected to increase production…
Upstream Earnings 4Q11 vs. 4Q10 Earnings increased 1.3B on higher realizations and asset sales, partly offset by lower volumes. Earnings per barrel were 21.18. Millions of Dollars 1,990 (1,450) 810 8,829 7,480 4Q10 Realization…
Upstream Volumes 4Q11 vs. 4Q10 Volumes decreased 9%: liquids -276 kbd, natural gas -975 mcfd koebd 4,968 (200) 28 (52) (214) 4,530 4Q10 Entitlements Quotas Divestments Net Growth 4Q11 17
Upstream Earnings 4Q11 vs. 3Q11 Earnings increased 435M due to stronger realizations, seasonal demand in Europe, and asset sales Millions of Dollars 190 50 190 8,829 8,394 3Q11 Realization Vol/Mix Other 4Q11 Note: earnings…
Upstream Volumes 4Q11 vs. 3Q11 Volumes increased 6%: liquids +1 kbd, natural gas +1,480 mcfd koebd 234 4,530 4,282 31 0 (17) 3Q11 Entitlements Quotas Divestments Net Growth 4Q11 19
Upstream Earnings 2011 vs. 2010 Earnings increased 10.3B with stronger realizations and asset sales, partly offset by lower liquids volumes Millions of Dollars 10,650 (2,520) 2,210 34,439 24,097 2010 Realization Vol/Mix Other…
Downstream Earnings 4Q11 vs. 4Q10 Earnings decreased 725M primarily due to lower industry refining margins Millions of Dollars 1,150 (740) (30) 40 425 4Q10 Margin Vol/Mix Other 4Q11 Note: earnings exclude special items,…
Downstream Earnings 4Q11 vs. 3Q11 Earnings decreased 1.2B with significantly lower industry refining margins, partly offset by inventory effects and gains on asset sales Millions of Dollars 1,579 (1,570) 360 425 60 3Q11…
Downstream Earnings 2011 vs. 2010 Earnings increased 892M with higher industry refining margins and refining optimization benefits, partly offset by tax effects Millions of Dollars 630 (540) 800 4,459 3,567 2010 Margin…
Chemical Earnings 4Q11 vs. 4Q10 Earnings decreased 524M primarily due to lower commodity chemical margins and unfavorable tax effects Millions of Dollars 1,067 (230) (40) (250) 543 4Q10 Margin Vol/Mix Other 4Q11 Note:…
Chemical Earnings 4Q11 vs. 3Q11 Earnings decreased 460M due to significantly lower commodity chemical margins Millions of Dollars 1,003 (390) 10 (80) 543 3Q11 Margin Vol/Mix Other 4Q11 Note: earnings exclude special…
Chemical Earnings 2011 vs. 2010 Earnings decreased 530M as unfavorable tax effects and higher planned maintenance were partly offset by higher margins Millions of Dollars 260 (180) 4,913 (610) 4,383 2010 Margin Vol/Mix Other…
Summary ExxonMobils strong financial and operating performance reflects value of integrated business model and competitive advantages 4Q11 2011 41.1 ExxonMobil possesses unique Earnings 9.4 Billion Billion competitive advantages…
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