FOURTH QUARTER 2021 RESULTS 2.1.22 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 Leveraging scale to drive step change in cost and establish industry efficiency benchmarks LEAD EARNINGS AND CASH Upgrading our portfolio through industry-advantaged, high-return…
2021 PERSPECTIVES STRENGTHENING INDUSTRY LEADERSHIP Operational excellence Emission reductions Sustained best-ever safety and reliability Expect to meet 2025 GHG emission-reduction performance plans four years ahead of schedule1…
2021 FINANCIAL ACCOMPLISHMENTS Strategy delivering improved financial results Earnings Structural cost Capex discipline Breakeven increased to savings of with investment of lowered to 23 billion 2 billion1 17 billion 41 /bbl2…
RESULTS 4Q21 VS. 3Q21 Realized full value of improved market environment U/S D/S CHEM C&F TOTAL Liquids and gas realizations increased with 3Q21 GAAP Earnings / (Loss) 4.0 1.3 2.1 (0.6) 6.8 continued demand recovery and supply…
UPSTREAM PERSPECTIVE Improved earnings driven by higher realizations and structural cost efficiencies CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Price improvement driven by higher liquids realizations 680 16,318 15,930…
DOWNSTREAM PERSPECTIVE Strong earnings recovery reflects improved demand and additional structural efficiencies CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Margins recovered to low end of 10-year range by year end; jet…
CHEMICAL PERSPECTIVE Best-ever annual earnings CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Strong margins driven by resilient demand and 7,166 80 280 industry supply constraints 250 Record production supported by…
EARNINGS 2021 VS. 2020 Captured benefits of market recovery through effective pandemic response and structural cost reductions CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Billion USD More than 22 billion price and margin 23.0 1.1…
2021 CASH MANAGEMENT Delivered on capital allocation priorities CASH FLOW Billion USD Highest cash flow from operations since 2012 13.4 Repaid 20 billion of debt, 95% of 2020 increase 3.2 Debt-to-capital reduced to 21% 19.7…
2021 BREAKEVEN Lowered breakeven to 41/bbl; 20222027 Plan breakeven at 35/bbl 2021 BREAKEVEN1,2 Billion USD Covered 2021 Capex and dividend at 41/bbl on 51 50 U D C 1 7 4 3 A 44 14 average price/margin basis (4) (1) U/S (3)…
INVESTING IN ADVANTAGED RESOURCES AND PRODUCTS Improving portfolio mix and resilience; driving down emissions CAPITAL AND EXPLORATION EXPENDITURES Billion USD 2022 Capex expected to be 2124 billion Increasing investment in key growth…
FIRST QUARTER 2022 OUTLOOK Lower government-mandated curtailments offset by higher maintenance UPSTREAM Liza Phase 2 start-up Resilient gasoline and diesel demand; recent COVID variants mainly impacting jet demand DOWNSTREAM…
2022 LOOK AHEAD: GROWING SHAREHOLDER VALUE Leveraging synergies across businesses to drive further efficiencies LEAD EARNINGS AND CASH Start-up of Liza Phase 2 FPSO in Guyana and Coral FLNG in Mozambique FLOW GROWTH Continuing…
EVOLVING OUR BUSINESS MODEL Reorganized businesses provide significant opportunities to improve effectiveness and reduce cost 2016: FUNCTIONAL COMPANIES 2020: VALUE CHAINS 2022: DELIVERING SOLUTIONS FUELS & LUBRICANTS…
EVOLVING OUR BUSINESS MODEL Business benefiting from full set of corporate competitive advantages 2022: DELIVERING SOLUTIONS Eliminated internal barriers and streamlined organization PRODUCT SOLUTIONS Increased ownership and…
DRIVING TOWARD NET ZERO Tangible steps and plan commitments through 2030 ROADMAP SUPPORTING PERMIAN 2030 NET-ZERO PLAN1 CO2 equivalent Expect to meet 2025 GHG emission-reduction plans four years early2 Aggressive 2030 GHG…
REDUCING SOCIETYS EMISSIONS Increasing supply of products that enable lower life-cycle GHG emissions Potential GHG benefits of ExxonMobil products Committed to helping society reduce overall GHG emissions MTA of GHG emissions avoided…
GROWING VALUE IN A NET-ZERO FUTURE Robust strategy improves business across wide range of scenarios CAPITAL EXPENDITURES MODELED UNDER IEA NZE 2050 SCENARIO1 Trailing 5-year averages Scenario analysis illustrates business resilience…
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UPSTREAM PERSPECTIVE Improved earnings driven by higher realizations and volumes CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Liquids and gas realizations increased Liquids in middle of 10-year range 6,628 Gas further…
DOWNSTREAM PERSPECTIVE Strong earnings recovery reflects improved demand CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Higher margins reflect continued demand recovery 80 partially offset by increased energy prices in Europe…
CHEMICAL PERSPECTIVE Margins softened from historic highs CONTRIBUTING FACTORS TO CHANGE IN EARNINGS Million USD Margins moved into middle of 10-year range due to 2,140 increased supply and higher feed / energy costs Expenses driven…
UPSTREAM VOLUMES Absence of curtailments offset by lower entitlements due to price CONTRIBUTING FACTORS TO CHANGE IN VOLUMES Koebd Absence of economic curtailments 15 (100) Higher European gas demand 70 3,761 3,712 (25) (10)…
UPSTREAM VOLUMES Volumes increased with lower curtailments and higher demand CONTRIBUTING FACTORS TO CHANGE IN VOLUMES Koebd Lower government-mandated curtailments 3,816 (10) Higher European seasonal gas demand 85 (15) 90 3,665…
MARKET ENVIRONMENT Gas and crude prices continue to improve PRICES / MARGINS 20102021 Crude prices remained in middle of 10-year range 3Q21 Gas prices well above 10-year range with global supply constraints and lower inventory…
FIRST QUARTER 2022 OUTLOOK DOWNSTREAM SCHEDULED MAINTENANCE QUARTERLY EARNINGS IMPACT1 UPSTREAM SCHEDULED MAINTENANCE QUARTERLY EARNINGS IMPACT3 Million USD Million USD 600 600 300 300 0 1Q21 2Q21 3Q21 4Q21 1Q22 est. 0 1Q21…
SUPPLEMENTAL INFORMATION RECONCILIATION OF FREE CASH FLOW 2021 Net cash provided by operating activities (U.S. GAAP) 48.1 Additions to property, plant and equipment (12.1) Proceeds associated with sales of subsidiaries, property,…
SUPPLEMENTAL INFORMATION Definitions Structural cost reductions (also structural cost savings, structural efficiencies, structural savings, structural cost improvement). Structural cost reductions describe decreases in the below expenses…
SUPPLEMENTAL INFORMATION Slide 4 Slide 12 1) 2025 emissions reductions plans announced in December 2020 included a 15 to 20 1) CFO / Asset sales includes total corporate cash flow from operations and percent reduction in greenhouse gas…
SUPPLEMENTAL INFORMATION Slide 18 Slide 19 1) This chart illustrates potential greenhouse gas abatement options as of the date of 1) The modeled figures are estimates and assume that 100% EM LNG volumes the ExxonMobil Advancing Climate…
SUPPLEMENTAL INFORMATION Slide 20 Slide 24 1) Modeling assumptions include: (1) current prices for Brent and Henry Hub decline 1) Certification through the International Sustainability and Carbon Certification to conform with IEA NZE…
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