2021 CORPORATE PLAN UPDATE 12.1.21 DARREN WOODS CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER KATHY MIKELLS SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
POSITIONING TO SUSTAINABLY GROW SHAREHOLDER VALUE OBJECTIVES Lead earnings and cash flow growth Lead drive to a lower-emission future Build successful Low Carbon Solutions business Build resiliency and optionality TODAYS 2021…
INDUSTRYLEADING UPSTREAM INVESTMENTS Capital program prioritizing low cost-of-supply, lower emissions intensity opportunities UPSTREAM INVESTMENTS1 Unit price required to generate the cost-of-supply plus 10% return Industry-leading…
GROWING UPSTREAM CASH FLOW Growing cash flow potential PRODUCTION OPERATING CASH FLOW1 Moebd, net Billion USD Upstream earnings more than double through 20272 40 4 Post 2020 start- Improving capital efficiency of industry-leading…
GROWING DOWNSTREAM AND CHEMICAL EARNINGS Doubling high-value, high-performance products to generate industry-leading earnings HIGH-VALUE, HIGH-PERFORMANCE PRODUCT GROWTH MTA Downstream and Chemical earnings triple through 20 20273…
BUILDING LOWER-EMISSION VALUE CHAINS Focused on solutions for hard-to-decarbonize sectors EXXONMOBIL FOCUS AREAS TOTAL ADDRESSABLE MARKET: 20401 POWER GENERATION CCS CARBON CAPTURE 2 trillion Hydrogen AND STORAGE Need: 24/7…
GROWING INVESTMENTS TO LOWER EMISSIONS Leveraging technology, scale, integration, and global footprint INCREASING CAPITAL INVESTMENT Flexibility to adjust to technology and policy evolution Billion USD 4 15 billion of lower-emission…
AGGRESSIVE EMISSION REDUCTION PLANS THROUGH 2030 Consistent with Paris pathways; on track to meet 2025 plans in 2021 EXXONMOBIL AND SOCIETYS EMISSIONS1,2,3 Percent reduction versus 2016 2030 GHG EMISSION REDUCTION PLANS3 70-80%…
DRIVING STRUCTURAL COST EFFICIENCIES Achieved 3 billion of structural reductions through 2020; additional 1.5 billion in 2021 CASH OPEX EXCLUDING ENERGY AND PRODUCTION TAXES Billion USD Delivering on cost reduction objectives,…
EXECUTING ADVANTAGED PROJECTS Investments robust to lower-emission future;1 maintaining flexibility CAPITAL AND EXPLORATION EXPENDITURES Billion USD 2021 Capex expected near low end of 1619 Guidance: billion range; 20222027 Capex 2025…
GROWING EARNINGS POTENTIAL Earnings more than double by 2027 versus 2019 EARNINGS GROWTH1,2 Billion USD, 60/bbl real Brent and average margins Restructured businesses accelerate structural cost reductions and portfolio highgrading…
GROWING CASH FLOW POTENTIAL Cash flow from operations grows 2x by 2027 versus 2019 CASH FLOW FROM OPERATIONS1 Billion USD, 60/bbl real Brent and average margins Growth driven by earnings acceleration 60 Structural cost reductions…
GROWING CUMULATIVE CASH FLOW Cumulative cash generation potential of 100 billion in excess of Capex and dividends CUMULATIVE ESTIMATED SOURCES AND USES OF CASH (20222027)1 Billion USD Structural cost savings, highgrading portfolio, and…
KEY MESSAGES Positioning company to double earnings and cash flow potential while reducing GHG emissions UPSTREAM DOWNSTREAM / LOWER-EMISSION CHEMICAL INVESTMENTS 90 % 40 % 10 % of capital investments generate of earnings from…
SUPPLEMENTAL INFORMATION RECONCILIATION OF OPERATING COSTS AND CASH OPERATING EXPENSES SHOWING MOST RECENT PERIOD COMPONENTS OF OPERATING COSTS 3Q21 YTD From ExxonMobils Consolidated statement of income: Production and manufacturing…
SUPPLEMENTAL INFORMATION RECONCILIATION OF 2019 EARNINGS AND CASH FLOW FROM OPERATIONS 2019 EARNINGS U/S D/S CHEM C&F TOTAL Earnings (U.S. GAAP) 14.4 2.3 0.6 (3.0) 14.3 Asset Management (3.7) - - 0.0 (3.7) Tax Items (0.8) 0.0 (0.0)…
SUPPLEMENTAL INFORMATION RECONCILIATION OF 2019 UPSTREAM OPERATING CASH FLOW OPERATING CASH FLOW (UPSTREAM) 2019 Earnings, ex. Asset Management and Tax Items and adjusted to 2021 60/bbl real Brent 9.2 Depreciation and depletion,…
SUPPLEMENTAL INFORMATION Definitions Cash operating expenses (cash Opex, structural efficiencies, structural savings, or structural reductions). Cash operating expenses are a subset of total operating costs that are stewarded internally…
SUPPLEMENTAL INFORMATION Slide 4 Slide 6 1) Includes projects that bring on new volumes. Break-even based on cost-of-supply 1) Represents 2027 earnings potential contribution from performance to generate a minimum of 10% return on a…
SUPPLEMENTAL INFORMATION Slide 8 Slide 12 1) 15 billion lower-emission investment portfolio delivers 10% return on a capital 1) 2021 60 Brent, adjusted for inflation; 10-year average Downstream and weighted basis under current policy.…
SUPPLEMENTAL INFORMATION Slide 15 1) Includes projects that bring on new volumes. Break-even based on cost-of-supply to generate a minimum of 10% return on a money-forward basis. 2) Represents 2027 earnings potential contribution from…
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