SECOND QUARTER 2021 RESULTS 7.30.21 DARREN WOODS CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER STEPHEN LITTLETON VICE PRESIDENT, INVESTOR RELATIONS AND SECRETARY
GROWING LONG-TERM SHAREHOLDER VALUE Progressing plans to improve earnings and cash flow in a lower-carbon future Good progress integrating new directors; focus on addressing challenges and growing long-term shareholder value…
DEVELOPMENTS SINCE FIRST QUARTER 2021 Higher liquids realizations in-line with market; lower volumes due to seasonal demand and maintenance UPSTREAM New discoveries in Guyana Completed FID for Bacalhau development in Brazil Global…
RESULTS 2Q21 VS. 1Q21 U/S D/S CHEM C&F TOTAL Price / margin improvements across all businesses with continued demand recovery 1Q21 GAAP Earnings / (Loss) 2.6 (0.4) 1.4 (0.8) 2.7 Identified items severance - - - (0.0) (0.0)…
UPSTREAM 2Q21 VS. 1Q21 CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Higher liquids and gas realizations of 1 billion, partially offset by unsettled derivatives mark-to- 3,185 market impacts (360) 310 680 Planned maintenance…
UPSTREAM VOLUMES 2Q21 VS. 1Q21 CONTRIBUTING FACTORS TO CHANGE IN VOLUMES Koebd Government-mandated curtailments unchanged 3,787 at 125 Koebd (75) (60) Lower seasonal gas demand in Europe (110) 3,582 40 Improved reliability and…
DOWNSTREAM 2Q21 VS. 1Q21 CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Stronger margins of 600 million partially offset by unsettled derivatives mark-to-market impacts Best-ever Lubricants quarterly earnings driven by…
CHEMICAL 2Q21 VS. 1Q21 CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Best-ever quarterly earnings (180) 2,320 Strong reliability and tight supply conditions 1,080 Planned seasonal turnarounds and maintenance in Europe…
EARNINGS 2Q21 VS. 2Q20 CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD 4,702 Total price / margin improvement of 6.7 billion 810 (850) 1,060 430 Demand recovery including absence of economic 1,680 curtailments and lower…
DISCIPLINED INVESTING AND COST MANAGEMENT CASH OPEX EXCLUDING ENERGY AND PRODUCTION TAXES Billion USD 19.1 1 billion in structural efficiencies in 1H21 partially 18.7 offset by increased activity (1.2) 0.8 On track for 6 billion…
SECOND QUARTER 2021 CASH PROFILE 2Q21 1Q21 Beginning cash 3.5 4.4 Increased cash flow due to stronger market Earnings / (Loss) 4.7 2.7 fundamentals, supported by improved reliability Depreciation 5.0 5.0 Working capital / other…
THIRD QUARTER 2021 OUTLOOK Higher volumes due to reduced planned maintenance UPSTREAM U.K. North Sea sale expected to close by year-end, subject to regulatory and third-party approvals Continuing demand improvement with economic…
MANAGEMENT PERSPECTIVES DARREN WOODS CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER JACK WILLIAMS SENIOR VICE PRESIDENT
MARKET ENVIRONMENT Prices and margins continue to improve PRICES / MARGINS 20102021 2Q21 Crude and natural gas markets improved with demand recovery Downstream margins remain below 10-year 1Q21 historical ranges driven by product…
CHEMICAL MARKET ENVIRONMENT Strong demand and tight near-term supply driving increased margins POLYETHYLENE INDUSTRY MARGINS1 %, indexed to 1Q19 300 Resilient demand for key Chemical products Europe Increased packaging and hygiene…
INDUSTRY-LEADING CHEMICAL EARNINGS Favorable long-term competitive position through advantaged investments and performance products QUARTERLY EARNINGS1 Billion USD Diversified product portfolio enables value capture across wide range of…
COMMITTED TO SUSTAINABLE CHEMICAL GROWTH Performance products offer customer choices for lower emissions and improved efficiencies PERFORMANCE PRODUCT VOLUMES PERFORMANCE PRODUCT EARNINGS2 %, indexed to 20201 Performance products meet…
FUTURE INVESTMENTS DELIVER ROBUST RETURNS Advantaged investments strengthening integrated manufacturing platforms with upgraded product mix CHEMICAL PROJECTS GROW PERFORMANCE PRODUCTS MARGIN IMPROVEMENT AND HIGH-VALUE PRODUCT GROWTH…
CONTINUING TO GROW PERMIAN VALUE Performance improvements delivering free cash DAILY DRILLING LATERAL FEET1 FRAC STAGES PER DAY 115% 45% 250% improvement 180% improvement 2Q volumes 400 Koebd Up 50 Koebd versus 2Q20 excluding…
ADVANTAGED DEEPWATER DEVELOPMENTS Exploring and progressing developments in high-return basins; 10% return…
PROGRESSING LOWER-EMISSION INITIATIVES Advancing Low Carbon Solutions opportunities CARBON CAPTURE AND STORAGE LOW-EMISSION FUELS LEADER IN METHANE DETECTION TECHNOLOGY 2022 FID 40 Kbd 23 K LaBarge and Porthos projects1 Renewable…
GROWING LONG-TERM SHAREHOLDER VALUE 2022+ plans improve earnings and cash flow in a lower-carbon future Going forward, plans: Deliver industry-leading operations performance Lead in safety and reliability Significantly reduce own…
Q&A
THIRD QUARTER 2021 OUTLOOK DOWNSTREAM SCHEDULED MAINTENANCE QUARTERLY EARNINGS IMPACT1 Million USD 600 1,2 See Lower Supplemental scheduled Information maintenance positions Downstream for continued market recovery 300 Lower planned…
SUPPLEMENTAL INFORMATION RECONCILIATION OF OPERATING COSTS AND CASH OPERATING EXPENSES COMPONENTS OF OPERATING COSTS 1H21 1H20 From ExxonMobils Consolidated statement of income: Production and manufacturing expenses 16.5 15.2…
SUPPLEMENTAL INFORMATION Definitions Resources, resource base, and recoverable resources. Along with similar terms, these refer to the total remaining estimated quantities of oil and natural gas that are expected to be ultimately…
SUPPLEMENTAL INFORMATION Slide 4 Slide 17 1) Subject to regulatory and third-party approvals. 1) Leading Chemical business - chemicals industry benchmark group comprised of 11 of the top 20 global ethylene producers where public…
SUPPLEMENTAL INFORMATION Slide 21 1) Money-forward basis; excluding acquisition cost. Slide 22 1) Final Investment Decision (FID) is targeted to occur in 2022 for the LaBarge Helium Plant CCS Expansion and the Rotterdam Porthos CCS…
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