Delivering superior, long-term value Imperial 2015 1
Canadian business environment Large, accessible upstream resources Mature, competitive downstream markets Relative political stability, competitive fiscal regime Evolving regulatory, environmental framework Market access…
Imperials business model Deliver superior, long-term shareholder value Long-life, competitively advantaged assets Disciplined investment and cost management Value-chain integration and synergies High-impact technologies and…
Organizational priorities Focus on the things within our control Base business operating fundamentals Asset-specific improvement plans Achieving full value of recent investments Prudent scope and pace of new investments…
Business scope Industry leadership in all aspects of the value chain Syncrude mining Kearl mining Strathcona refinery Sarnia refinery Cold Lake in situ Edmonton rail terminal Nanticoke refinery Research Fuels & Lubes…
Industry-leading capital efficiency Maximizing investment value and life-cycle performance Return on capital employed, % 20.0 5-year average 2014 10.0 0.0 IMO CNQ HSE SU CVE Source: company publications Imperial 2015 7
Completing unprecedented period of growth Investments funded largely with cash from operations Average annual capex, billions 2010-2014 total billions 6 Cash from operations 20 4 Cash from asset sales 2 2 Investments 27 0…
Cash flow capacity increasing with production Financial resilience under a wide range of prices Annual average, billions 6 Ability to cover sustaining capital requirements 4 80 Options to pursue selective 60 growth investments 2 40…
Rapid response to new price environment Aggressively pursuing cost reductions and efficiencies Cash unit costs, /boe1 40 Upstream Downstream Spending thresholds reset 30 Renegotiated 3rd party contracts 20 Executed price amendments…
Cold Lake: a world-class in situ operation Best-in-class operational performance Cyclic steam stimulation 100% Imperial owned 1st production in 1985 1.8B bbls 1 170 kbd 2P reserves current production1 Large, high quality…
Syncrude: a pioneer in oil sands mining Strategic asset with improvement potential Mining with upgrader 25% Imperial owned 1st production in 1978 1.1B bbls 1 2P reserves 70 kbd 5-year average production1 Synthetic crude…
Kearl: next generation oil sands mining Establishing new performance standards Mining without upgrader 71% Imperial owned 1st production in 2013 3.2B bbls 1 2P reserves 220 kbd gross production Large, high-quality resource…
Improved environmental performance Wells-to-wheels GHGs similar to average crude refined in U.S. % 125 Production Refining Distribution Combustion 100 75 50 California Mining synthetic Venezuela Kearl Average barrel Mexico…
In situ growth opportunities 300+ kbd production potential, development planning ongoing Resource potential 5 billion barrels1,2 Top-tier quality Enabling technology SAGD / SA-SAGD Potential scope 7+ phases, 55-75 kbd per phase…
Responsible energy development Dual challenge to increase energy supplies Safe Reliable Affordable Abundant while addressing societal and environmental risks All energy sources Technology & Investments must required innovation…
For more information www.imperialoil.ca Twitter /ImperialOil YouTube /ImperialOil LinkedIn /Imperial-Oil For more detailed investor information, or to receive annual and interim reports, please contact: Meredith C. Milne Manager,…
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