FIRST QUARTER 2021 RESULTS 4.30.21 STEPHEN LITTLETON VICE PRESIDENT, INVESTOR RELATIONS AND SECRETARY
DEVELOPMENTS SINCE FOURTH QUARTER 2020 Improved liquids and gas realizations with market recovery UPSTREAM Lower government-mandated curtailments and higher seasonal European gas demand Announced 1 billion sale of U.K. central and…
RESULTS 1Q21 VS. 4Q20 U/S D/S CHEM C&F TOTAL 4Q20 GAAP Earnings / (Loss) (18.5) (1.2) 0.7 (1.0) (20.1) Price / margin improvements across all businesses with demand recovery Identified items (19.3) (0.5) - (0.3) (20.2) 4Q20 Earnings…
UPSTREAM 1Q21 VS. 4Q20 CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD 2,554 Continued market recovery increased liquids, 170 (80) (110) natural gas, and LNG realizations Higher volumes with lower government-mandated…
UPSTREAM VOLUMES 1Q21 VS. 4Q20 CONTRIBUTING FACTORS TO CHANGE IN VOLUMES Koebd 3,787 Government-mandated curtailments reduced to 40 125 Koebd 3,689 70 (40) Higher seasonal European gas demand 60 (40) Permian and Guyana unchanged…
DOWNSTREAM 1Q21 VS. 4Q20 CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Improved margins primarily on increased North America demand (40) Jet demand remains weak with limited global travel (210) 380 Structural…
CHEMICAL 1Q21 VS. 4Q20 CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD 1,415 Captured improved industry margins with reliable 180 polyethylene and polypropylene operations 150 Continued robust performance products demand…
EARNINGS 1Q21 VS. 1Q20 CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Total price / margin improvement of 1.3 billion1 740 Improvement in Upstream and Chemical margins 1,690 1,070 more than offset Downstream Absence of…
DISCIPLINED INVESTING AND COST MANAGEMENT CASH OPEX EXCLUDING ENERGY AND PRODUCTION TAXES Billion USD Efficiencies and cost reductions on track, 10.2 consistent with plans (0.7) 9.2 (0.3) Cash Opex structurally lower due to…
SECOND QUARTER 2021 OUTLOOK Announced government-mandated curtailments in line with 1Q21 UPSTREAM Lower volumes with seasonal gas demand and higher scheduled maintenance U.K. North Sea sale expected to close near mid-year, subject to…
MANAGEMENT PERSPECTIVES DARREN WOODS CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER
POSITIONED FOR SUCCESS Decisive response to pandemic balanced near, medium, and long-term priorities Developing industry-leading portfolio of advantaged investments Restructuring provided foundation for rapid response and significant…
IMPROVING ENVIRONMENT Prices and margins returning to historic range PRICES / MARGINS 20102021 Crude Natural gas Downstream Chemical Crude and natural gas markets improved with (/bbl) (/mbtu) margins margins demand recovery (/bbl)…
PRIORITIZED INVESTMENTS Progressing development of highest-return opportunities CORPUS CHRISTI DEEPWATER PERMIAN CHEMICAL COMPLEX 10% return…
PRESERVING PROJECT VALUE Leveraging unique capabilities to deliver robust project returns BAYTOWN CHEMICAL EXPANSION 2Q20 Current Collaborated with contractors, partners, and governments to effectively pace projects Global Projects…
INVESTING IN HIGHEST-RETURN ASSETS 2020 investments drive cash flow growth 2020 UPSTREAM INVESTMENTS OPERATING CASH FLOW FROM PROJECTS RETAINED IN 2020 CAPEX2 Brent /bbl required to generate the cost-of-supply plus 10% return1 Billion USD…
CONTINUING TO GROW PERMIAN VALUE 2020 work provided foundation for ongoing performance improvement DAILY DRILLING LATERAL FEET1 FRAC STAGES PER DAY 220% 80% 180% 50% Increased 1Q21 volumes 60 Koebd vs. 1Q204 improvement improvement…
GROWING LONG-TERM SHAREHOLDER VALUE Highgraded portfolio, improved earnings and cash flow, and positioned for a lower-carbon future SUSTAINABLE SHAREHOLDER VALUE STRONG CASH FLOW STRUCTURAL COST SAVINGS 2.8 million 9 billion 10 %…
CONSISTENT CAPITAL ALLOCATION PRIORITIES Balanced approach to maintain the dividend, accretively invest and manage debt 2021 ESTIMATED SOURCES AND USES OF CASH1,2,3 Billion USD By Brent price, with Long-term capital allocation…
CLIMATE STRATEGY Responsibly meeting societys evolving need for energy in a reliable and sustainable manner MITIGATING EMISSIONS IN PROVIDING PRODUCTS TO PROACTIVELY ENGAGING ON DEVELOPING AND COMPANY OPERATIONS HELP CUSTOMERS…
SIGNIFICANT INVESTMENTS IN TARGETED MARKETS Investment in carbon capture and storage proportionate to potential market size EXXONMOBIL ENERGY INVESTMENT1 Percent of total addressable market Carbon capture and storage is critical to…
POSITIONED TO SUCCEED IN CARBON CAPTURE Leveraging position as global leader in critical technology required for net zero emissions GLOBAL LEADERSHIP SIGNIFICANT POTENTIAL GROWTH MARKET5 ExxonMobil 1 in CO2 capture2 TOTAL CO2 CAPTURE 2…
HOUSTON CCS INNOVATION ZONE CONCEPT Houston ship channel is an ideal location for a large-scale CCS project Potential to mitigate 100 MILLION tonnes of CO2 annually by 20401 CRITICAL ENABLERS INCLUDE: Supportive Broad industry…
GROWING LONG-TERM SHAREHOLDER VALUE Progressing actions to highgrade portfolio and improve earnings and cash flow Committed to delivering sustainable shareholder value Competitively advantaged assets and investments drive strong…
Q&A
SECOND QUARTER 2021 OUTLOOK DOWNSTREAM SCHEDULED MAINTENANCE QUARTERLY EARNINGS IMPACT1 Million USD 600 1H21 1,2 See scheduled Supplemental maintenance Information positions Downstream for continued market recovery 300 Higher…
SUPPLEMENTAL INFORMATION IDENTIFIED ITEMS RECONCILIATION FOURTH QUARTER 2020 Earnings / (Loss) U.S. GAAP (20.1) Identified items included in earnings / (loss) Noncash inventory valuation - lower of cost or market - Impairment…
SUPPLEMENTAL INFORMATION Winter storm as used on slide 6 is included below as part of the Downtime/Maintenance category. Curtailments as used on slide 6 includes government mandates shown as a separate category below. UPSTREAM VOLUME…
SUPPLEMENTAL INFORMATION RECONCILIATION OF OPERATING COSTS AND CASH OPERATING EXPENSES COMPONENTS OF OPERATING COSTS 1Q21 1Q20 From ExxonMobils Consolidated statement of income: Production and manufacturing expenses 8.1 8.3 Selling,…
SUPPLEMENTAL INFORMATION Definitions Available cash from operations. Available cash from operations provides an indication of cash flow available to fund shareholder distributions, capex, and debt reduction and is calculated as the sum…
SUPPLEMENTAL INFORMATION Slide 3 Slide 15 1) Includes most of the non-operated U.K. central and northern North Sea assets. 1) Source: S&P Global Platts. Sale price is subject to closing adjustments and has additional upside of 300 2)…
SUPPLEMENTAL INFORMATION Slide 18 Slide 22 1) Includes projects that bring on new volumes. Break-even based on a cost-of-supply 1) Emission reduction plans announced in December 2020 include a 15 to 20 to generate a minimum 10% return…
SUPPLEMENTAL INFORMATION Slide 24 Slide 28 1) 40% of all anthropogenic CO2 captured since 1970. Global CCS Institute 2020 1) Estimates based on March margins and operating expenses related to report and ExxonMobil analysis of 2020…
Important Additional Information Regarding Proxy Solicitation Exxon Mobil Corporation (ExxonMobil) has filed a definitive proxy statement and form of associated BLUE proxy card with the U.S. Securities and Exchange Commission (the SEC)…
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