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DEFA14A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

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EXXON MOBIL CORPORATION

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The following communication is designed to provide an overview of our business in assessing technology capabilities across its businesses. INTRODUCTION R O B C R A N E P R O C E S S T E C H N O L O G Y M A N A G E R A N D A S S E S S M E N T L E A D , E X X O N M O B I L R E S E A R C H A N D E N G I N E E R I N G 1The following communication is designed to provide an overview of our business in assessing technology capabilities across its businesses. INTRODUCTION R O B C R A N E P R O C E S S T E C H N O L O G Y M A N A G E R A N D A S S E S S M E N T L E A D , E X X O N M O B I L R E S E A R C H A N D E N G I N E E R I N G 1

CAUTIONARY STATEMENT • Statements of future events or conditions in this presentation or the subsequent discussion period are forward-looking statements. Actual future results, including financial and operating performance; demand growth and mix; the impacts of the COVID-19 pandemic and current industry oversupply conditions on ExxonMobil’s business and results; price and margin recovery; planned capital and operating expense reductions and efficiencies; future cash flows, dividends, cash and debt balances, and capital allocation; corporate and financing expenses; volume/production growth and mix; the total amount and mix of capital expenditures; resource recoveries; production rates; rates of return; development costs; project plans, timing, costs, and capacities; drilling programs and improvements; product sales and mix; accounting and financial reporting effects resulting from market developments and ExxonMobil’s responsive actions; and the impact of technology, including impacts on capital efficiency, production and greenhouse gas emissions, could differ materially due to a number of factors including global or regional changes in oil, gas, petrochemicals, or feedstock prices, differentials, or other market or economic conditions affecting the oil, gas, and petrochemical industries and the demand for our products; the outcome of government policies and actions, including actions taken to address COVID-19and to maintain the functioning of national and global economies and markets; the severity, length and ultimate impact of COVID-19 on people and economies and the timing and pace of regional and global economic recovery; the ability to access short-and long-term debt markets on a timely and affordable basis; the ability to realize efficiencies within and across our business lines and to maintain cost reductions without impairing our competitive positioning; the impact of company actions to protect the health and safety of employees, vendors, customers, and communities; reservoir performance; the outcome and timing of exploration and development projects; timely completion of construction projects; war and other security disturbances, including shipping blockades or harassment; political factors including changes in local, national, or international policies affecting our business; or changes in law or government regulation, including trade sanctions, tax and environmental regulations; the outcome of commercial negotiations and impact of commercial terms; actions of competitors and commercial counterparties; actions of consumers; opportunities for and regulatory approval of investments or divestments that may arise; the outcome of research efforts and the ability to bring new technology to commercial scale on a cost-competitive basis; the development and competitiveness of alternative energy and emission reduction technologies; unforeseen technical or operating difficulties; and other factors discussed here and under the heading Factors Affecting Future Results in the Investors section of our website at exxonmobil.com. All forward-looking statements are based on management’s knowledge and reasonable expectations at the time of this presentation and we assume no duty to update these statements as of any future date. • Forward-looking statements in this release regarding project timing, returns, and results; targeted capital and operating expense reductions; market strategies; capital allocation; and other future plans, targets or key milestones refer to plans outlined in ExxonMobil’s press release dated April 7, 2020 and subsequent public disclosures including our first quarter earnings press release and conference call on May 1, 2020 and annual shareholders’ meeting on May 27, 2020. Forward-looking statements contained in our Investor Day held on March 5, 2020 were based on different capital plans prior to the impacts of the COVID-19 pandemic, governments’ responses to the pandemic, and other market factors on ExxonMobil’s business. These forward-looking statements from Investor Day should not be relied upon to represent ExxonMobil’s future business plans or results of operations. Updates on the timing of some projects have been provided, but are not meant to represent a complete view of all projects where timing could be impacted by the current pandemic, the government responses to the pandemic, or other market factors. All forward-looking statements, including project timing, may be further impacted by the continuation of the COVID-19 pandemic, government responses to the pandemic, or other market factors. • Reconciliations and definitions of non-GAAP measures and other terms are provided in the text or in the supplemental information accompanying these slides. 2CAUTIONARY STATEMENT • Statements of future events or conditions in this presentation or the subsequent discussion period are forward-looking statements. Actual future results, including financial and operating performance; demand growth and mix; the impacts of the COVID-19 pandemic and current industry oversupply conditions on ExxonMobil’s business and results; price and margin recovery; planned capital and operating expense reductions and efficiencies; future cash flows, dividends, cash and debt balances, and capital allocation; corporate and financing expenses; volume/production growth and mix; the total amount and mix of capital expenditures; resource recoveries; production rates; rates of return; development costs; project plans, timing, costs, and capacities; drilling programs and improvements; product sales and mix; accounting and financial reporting effects resulting from market developments and ExxonMobil’s responsive actions; and the impact of technology, including impacts on capital efficiency, production and greenhouse gas emissions, could differ materially due to a number of factors including global or regional changes in oil, gas, petrochemicals, or feedstock prices, differentials, or other market or economic conditions affecting the oil, gas, and petrochemical industries and the demand for our products; the outcome of government policies and actions, including actions taken to address COVID-19and to maintain the functioning of national and global economies and markets; the severity, length and ultimate impact of COVID-19 on people and economies and the timing and pace of regional and global economic recovery; the ability to access short-and long-term debt markets on a timely and affordable basis; the ability to realize efficiencies within and across our business lines and to maintain cost reductions without impairing our competitive positioning; the impact of company actions to protect the health and safety of employees, vendors, customers, and communities; reservoir performance; the outcome and timing of exploration and development projects; timely completion of construction projects; war and other security disturbances, including shipping blockades or harassment; political factors including changes in local, national, or international policies affecting our business; or changes in law or government regulation, including trade sanctions, tax and environmental regulations; the outcome of commercial negotiations and impact of commercial terms; actions of competitors and commercial counterparties; actions of consumers; opportunities for and regulatory approval of investments or divestments that may arise; the outcome of research efforts and the ability to bring new technology to commercial scale on a cost-competitive basis; the development and competitiveness of alternative energy and emission reduction technologies; unforeseen technical or operating difficulties; and other factors discussed here and under the heading Factors Affecting Future Results in the Investors section of our website at exxonmobil.com. All forward-looking statements are based on management’s knowledge and reasonable expectations at the time of this presentation and we assume no duty to update these statements as of any future date. • Forward-looking statements in this release regarding project timing, returns, and results; targeted capital and operating expense reductions; market strategies; capital allocation; and other future plans, targets or key milestones refer to plans outlined in ExxonMobil’s press release dated April 7, 2020 and subsequent public disclosures including our first quarter earnings press release and conference call on May 1, 2020 and annual shareholders’ meeting on May 27, 2020. Forward-looking statements contained in our Investor Day held on March 5, 2020 were based on different capital plans prior to the impacts of the COVID-19 pandemic, governments’ responses to the pandemic, and other market factors on ExxonMobil’s business. These forward-looking statements from Investor Day should not be relied upon to represent ExxonMobil’s future business plans or results of operations. Updates on the timing of some projects have been provided, but are not meant to represent a complete view of all projects where timing could be impacted by the current pandemic, the government responses to the pandemic, or other market factors. All forward-looking statements, including project timing, may be further impacted by the continuation of the COVID-19 pandemic, government responses to the pandemic, or other market factors. • Reconciliations and definitions of non-GAAP measures and other terms are provided in the text or in the supplemental information accompanying these slides. 2

CAPABILITY ASSESSMENT FOR TECHNOLOGY: OBJECTIVE Assess technology capabilities (people, equipment, labs, tools, approaches) within the discovery / development / deployment / improvement / sustainment pipeline across ExxonMobil Expert panels provide input: • Where new capabilities are required • Where and how capabilities should be strengthened • What can be de-emphasized or accomplished another way • Where there are opportunities for improved effectiveness or efficiency 3CAPABILITY ASSESSMENT FOR TECHNOLOGY: OBJECTIVE Assess technology capabilities (people, equipment, labs, tools, approaches) within the discovery / development / deployment / improvement / sustainment pipeline across ExxonMobil Expert panels provide input: • Where new capabilities are required • Where and how capabilities should be strengthened • What can be de-emphasized or accomplished another way • Where there are opportunities for improved effectiveness or efficiency 3

BUSINESS BRIEFINGS FOR PANELISTS • Video recordings: Introduction Rob Crane Process Technology Manager, EMRE* Energy Outlook Vijay Swarup VP, Research & Development, EMRE Upstream Business Objectives Michael Deal VP, Upstream Research, Technology and Development, UIS* Fuels Value Chain Business Objectives Richard Senior VP, Fuels, Process & Optimization Technology, EMRE Lubes Value Chain Business Objectives Mike Kerby VP, Lubricants Technology, EMRE Chemical Business Objectives Dave McConville VP, Chemical Technology, EMCC* Corporate Objectives Vijay Swarup VP, Research & Development, EMRE Org Overview and History of Innovation Vijay Swarup VP, Research & Development, EMRE Summary and Next Steps Rob Crane Process Technology Manager, EMRE • Live Q&A Sessions (90 min each): Feb 19, Mar 8, Mar 30 *EMRE = ExxonMobil Research & Engineering *UIS = Upstream Integrated Solutions *EMCC = ExxonMobil Chemical Company 4BUSINESS BRIEFINGS FOR PANELISTS • Video recordings: Introduction Rob Crane Process Technology Manager, EMRE* Energy Outlook Vijay Swarup VP, Research & Development, EMRE Upstream Business Objectives Michael Deal VP, Upstream Research, Technology and Development, UIS* Fuels Value Chain Business Objectives Richard Senior VP, Fuels, Process & Optimization Technology, EMRE Lubes Value Chain Business Objectives Mike Kerby VP, Lubricants Technology, EMRE Chemical Business Objectives Dave McConville VP, Chemical Technology, EMCC* Corporate Objectives Vijay Swarup VP, Research & Development, EMRE Org Overview and History of Innovation Vijay Swarup VP, Research & Development, EMRE Summary and Next Steps Rob Crane Process Technology Manager, EMRE • Live Q&A Sessions (90 min each): Feb 19, Mar 8, Mar 30 *EMRE = ExxonMobil Research & Engineering *UIS = Upstream Integrated Solutions *EMCC = ExxonMobil Chemical Company 4

SUPPLEMENTAL INFORMATION Important information and assumptions regarding certain forward-looking statements. Forward-looking statements contained in this presentation are not forecasts of actual future results. These figures are provided to help quantify the potential future results and goals of currently-contemplated management plans and objectives including new project investments, plans to grow Upstream production volumes, plans to increase sales in our Downstream and Chemical segments and to shift our Downstream product mix toward higher-value products, continued highgrading of ExxonMobil’s portfolio through our ongoing asset management program, initiatives to improve efficiencies and reduce costs, capital expenditures and cash management, and other efforts within management’s control to impact future results as discussed in this presentation. These figures are intended to quantify for illustrative purposes management’s view of the potentials for these efforts over the time periods shown, calculated on a basis consistent with our internal modelling assumptions for factors such as working capital, as well as factors management does not control, such as interest, differentials, and exchange rates. For all price point comparisons, unless otherwise indicated, we assume $60/bbl Brent crude prices and $3.00/mbtu Henry Hub for natural gas prices, which reflect five year historical averages. Unless otherwise specified, crude prices are Brent prices. Except where noted as solely Henry Hub, for natural gas we have used management’s internal price assumptions for the relevant natural gas markets. All crude and natural gas prices for future years are adjusted for inflation from 2019. Downstream and Chemical margins reflect five year historical averages from 2015 to 2019. These prices are not intended to reflect management’s forecasts for future prices or the prices we use for internal planning purposes. We have assumed that other factors such as laws and regulations, including tax and environmental laws, and fiscal regimes remain consistent with current conditions for the relevant periods. This presentation does not attempt to model potential coronavirus effects. Unless otherwise indicated, asset sales and proceeds are consistent with our internal planning. See the Cautionary Statement at the front of this presentation for additional information regarding forward-looking statements.. 5SUPPLEMENTAL INFORMATION Important information and assumptions regarding certain forward-looking statements. Forward-looking statements contained in this presentation are not forecasts of actual future results. These figures are provided to help quantify the potential future results and goals of currently-contemplated management plans and objectives including new project investments, plans to grow Upstream production volumes, plans to increase sales in our Downstream and Chemical segments and to shift our Downstream product mix toward higher-value products, continued highgrading of ExxonMobil’s portfolio through our ongoing asset management program, initiatives to improve efficiencies and reduce costs, capital expenditures and cash management, and other efforts within management’s control to impact future results as discussed in this presentation. These figures are intended to quantify for illustrative purposes management’s view of the potentials for these efforts over the time periods shown, calculated on a basis consistent with our internal modelling assumptions for factors such as working capital, as well as factors management does not control, such as interest, differentials, and exchange rates. For all price point comparisons, unless otherwise indicated, we assume $60/bbl Brent crude prices and $3.00/mbtu Henry Hub for natural gas prices, which reflect five year historical averages. Unless otherwise specified, crude prices are Brent prices. Except where noted as solely Henry Hub, for natural gas we have used management’s internal price assumptions for the relevant natural gas markets. All crude and natural gas prices for future years are adjusted for inflation from 2019. Downstream and Chemical margins reflect five year historical averages from 2015 to 2019. These prices are not intended to reflect management’s forecasts for future prices or the prices we use for internal planning purposes. We have assumed that other factors such as laws and regulations, including tax and environmental laws, and fiscal regimes remain consistent with current conditions for the relevant periods. This presentation does not attempt to model potential coronavirus effects. Unless otherwise indicated, asset sales and proceeds are consistent with our internal planning. See the Cautionary Statement at the front of this presentation for additional information regarding forward-looking statements.. 5

SUPPLEMENTAL INFORMATION Non-GAAP and other measures. With respect to historical periods, reconciliation information for non-GAAP measures is included with the relevant definition below or as noted below in the Frequently Used Terms available on the Investors page of our website at www.exxonmobil.com. For future periods, we are unable to provide a reconciliation of forward-looking non- GAAP measures to the most comparable GAAP financial measures because the information needed to reconcile these measures is dependent on future events, many of which are outside management’s control as described above. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with our accounting policies for future periods is extremely difficult and requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated in a manner consistent with the relevant definitions and assumptions noted above. Definitions and non-GAAP financial measure reconciliations Base assets. Base assets means all Upstream producing assets excluding Permian, Bakken, Guyana, LNG growth projects, and exploration activities. Cash Operating Costs. Cash operating costs consist of (1) Production and manufacturing expenses, (2) Selling, general and administrative expenses, and (3) Exploration expenses, including dry holes from ExxonMobil’s consolidated statement of income. The sums of these income statement lines serve as an indication of cash operating costs and do not reflect the total cash operating costs of the Corporation. This measure is useful in understanding the Corporation’s efforts to conserve cash on hand while progressing planned projects. Divestments. Divestments represent the unadjusted sale price specified in the applicable contract of sale as of the effective date for asset divestiture agreements which the corporation or one of its affiliates has executed since January 1, 2019. Actual final sale price and cash proceeds may differ in amount and timing from the divestment value depending on applicable contract terms. 6SUPPLEMENTAL INFORMATION Non-GAAP and other measures. With respect to historical periods, reconciliation information for non-GAAP measures is included with the relevant definition below or as noted below in the Frequently Used Terms available on the Investors page of our website at www.exxonmobil.com. For future periods, we are unable to provide a reconciliation of forward-looking non- GAAP measures to the most comparable GAAP financial measures because the information needed to reconcile these measures is dependent on future events, many of which are outside management’s control as described above. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with our accounting policies for future periods is extremely difficult and requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated in a manner consistent with the relevant definitions and assumptions noted above. Definitions and non-GAAP financial measure reconciliations Base assets. Base assets means all Upstream producing assets excluding Permian, Bakken, Guyana, LNG growth projects, and exploration activities. Cash Operating Costs. Cash operating costs consist of (1) Production and manufacturing expenses, (2) Selling, general and administrative expenses, and (3) Exploration expenses, including dry holes from ExxonMobil’s consolidated statement of income. The sums of these income statement lines serve as an indication of cash operating costs and do not reflect the total cash operating costs of the Corporation. This measure is useful in understanding the Corporation’s efforts to conserve cash on hand while progressing planned projects. Divestments. Divestments represent the unadjusted sale price specified in the applicable contract of sale as of the effective date for asset divestiture agreements which the corporation or one of its affiliates has executed since January 1, 2019. Actual final sale price and cash proceeds may differ in amount and timing from the divestment value depending on applicable contract terms. 6

SUPPLEMENTAL INFORMATION Moody’s Debt / Book Capitalization. For historical periods, Debt / Book Capitalization is sourced as of third quarter 2019 from Moody’s Investors Service and calculated using Moody’s standard adjustments. Year-end 2019 and projected future potential for ExxonMobil estimated by ExxonMobil based on a consistent methodology. Performance product. Refers to Chemical products that provide differentiated performance for multiple applications through enhanced properties versus commodity alternatives and bring significant additional value to customers and end-users. Processability. Processability refers to throughput (kg/h) for polyethylene. Project. The term “project” as used in this presentation can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Properties. Properties refers to film strength measurements for polyethylene. Resources, resource base, and recoverable resources. These and similar terms refer to the total remaining estimated quantities of oil and natural gas that are expected to be ultimately recoverable. ExxonMobil refers to new discoveries and acquisitions of discovered resources as resource additions. The resource base includes quantities of oil and natural gas classified as proved reserves, as well as quantities that are not yet classified as proved reserves but that are expected to be ultimately recoverable. The term “resource base” or similar terms are not intended to correspond to SEC definitions such as “probable” or “possible” reserves. “Potential” resource amounts are not currently included in the resource base. Returns, investment returns, project returns. Unless referring specifically to ROCE or external data, references to returns, investment returns, project returns, and similar terms mean discounted cash flow returns based on current company estimates. Future investment returns exclude prior exploration and acquisition costs. 7SUPPLEMENTAL INFORMATION Moody’s Debt / Book Capitalization. For historical periods, Debt / Book Capitalization is sourced as of third quarter 2019 from Moody’s Investors Service and calculated using Moody’s standard adjustments. Year-end 2019 and projected future potential for ExxonMobil estimated by ExxonMobil based on a consistent methodology. Performance product. Refers to Chemical products that provide differentiated performance for multiple applications through enhanced properties versus commodity alternatives and bring significant additional value to customers and end-users. Processability. Processability refers to throughput (kg/h) for polyethylene. Project. The term “project” as used in this presentation can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Properties. Properties refers to film strength measurements for polyethylene. Resources, resource base, and recoverable resources. These and similar terms refer to the total remaining estimated quantities of oil and natural gas that are expected to be ultimately recoverable. ExxonMobil refers to new discoveries and acquisitions of discovered resources as resource additions. The resource base includes quantities of oil and natural gas classified as proved reserves, as well as quantities that are not yet classified as proved reserves but that are expected to be ultimately recoverable. The term “resource base” or similar terms are not intended to correspond to SEC definitions such as “probable” or “possible” reserves. “Potential” resource amounts are not currently included in the resource base. Returns, investment returns, project returns. Unless referring specifically to ROCE or external data, references to returns, investment returns, project returns, and similar terms mean discounted cash flow returns based on current company estimates. Future investment returns exclude prior exploration and acquisition costs. 7

SUPPLEMENTAL INFORMATION Other information All references to production rates and project capacity are on a gross basis, unless otherwise noted. References to resource size are on a net basis, unless otherwise noted. This presentation refers to ExxonMobil’s 2019 Outlook for Energy. The Outlook for Energy includes ExxonMobil’s internal estimates of both historical levels and projections of challenging topics such as energy demand, supply and trends through 2040 based on internal data and analyses as well as publicly available information from many external sources including the International Energy Agency. Separate from ExxonMobil’s analysis, the Outlook for Energy includes a number of third party scenarios such as the EMF 27 scenarios and the IEA’s Sustainable Development Scenario. These third party scenarios reflect the modeling assumptions and outputs of their respective authors, not ExxonMobil, and their use and inclusion herein is not an endorsement by ExxonMobil of their likelihood or probability. Work on the 2019 Outlook for Energy was conducted during 2018 and the first half of 2019. We have not taken any steps and assume no duty to update this analysis as of any future date and neither further distribution of this material nor the continued availability of this material in archive form on our website should be deemed to constitute an update or re-affirmation of this analysis as of any future date. The Human Development Index (HDI) vs. Energy Consumption chart on page 11 displays a subset of data contained on page 6 of the Outlook for Energy. Not all countries are represented on the chart. Given the x-axis is a logarithmic scale, there may be visual variances from the 2019 Outlook for Energy. 8SUPPLEMENTAL INFORMATION Other information All references to production rates and project capacity are on a gross basis, unless otherwise noted. References to resource size are on a net basis, unless otherwise noted. This presentation refers to ExxonMobil’s 2019 Outlook for Energy. The Outlook for Energy includes ExxonMobil’s internal estimates of both historical levels and projections of challenging topics such as energy demand, supply and trends through 2040 based on internal data and analyses as well as publicly available information from many external sources including the International Energy Agency. Separate from ExxonMobil’s analysis, the Outlook for Energy includes a number of third party scenarios such as the EMF 27 scenarios and the IEA’s Sustainable Development Scenario. These third party scenarios reflect the modeling assumptions and outputs of their respective authors, not ExxonMobil, and their use and inclusion herein is not an endorsement by ExxonMobil of their likelihood or probability. Work on the 2019 Outlook for Energy was conducted during 2018 and the first half of 2019. We have not taken any steps and assume no duty to update this analysis as of any future date and neither further distribution of this material nor the continued availability of this material in archive form on our website should be deemed to constitute an update or re-affirmation of this analysis as of any future date. The Human Development Index (HDI) vs. Energy Consumption chart on page 11 displays a subset of data contained on page 6 of the Outlook for Energy. Not all countries are represented on the chart. Given the x-axis is a logarithmic scale, there may be visual variances from the 2019 Outlook for Energy. 8

SUPPLEMENTAL INFORMATION Other information, continued ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, operated by others, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships. Competitor data is based on publicly available information and, where estimated or derived (e.g., ROCE), done so on a consistent basis with ExxonMobil data. Future competitor data, unless otherwise noted, is taken from publicly available statements or disclosures by that competitor and has not been independently verified by ExxonMobil or any third party. We note that certain competitors report financial information under accounting standards other than U.S. GAAP (i.e., IFRS). 9SUPPLEMENTAL INFORMATION Other information, continued ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, operated by others, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships. Competitor data is based on publicly available information and, where estimated or derived (e.g., ROCE), done so on a consistent basis with ExxonMobil data. Future competitor data, unless otherwise noted, is taken from publicly available statements or disclosures by that competitor and has not been independently verified by ExxonMobil or any third party. We note that certain competitors report financial information under accounting standards other than U.S. GAAP (i.e., IFRS). 9

D E V E L O P I N G O U R E N E R G Y F U T U R E V I J A Y S W A R U P V I C E P R E S I D E N T O F R E S E A R C H A N D D E V E L O P M E N T 10D E V E L O P I N G O U R E N E R G Y F U T U R E V I J A Y S W A R U P V I C E P R E S I D E N T O F R E S E A R C H A N D D E V E L O P M E N T 10

ENERGY IS ESSENTIAL TO HUMAN PROGRESS U.N. HUMAN DEVELOPMENT INDEX 2017 INDEX ~50% of the global population lives in countries that rank low to medium on the U. N.’s Human Development Index Source: United Nations, ExxonMobil estimatesENERGY IS ESSENTIAL TO HUMAN PROGRESS U.N. HUMAN DEVELOPMENT INDEX 2017 INDEX ~50% of the global population lives in countries that rank low to medium on the U. N.’s Human Development Index Source: United Nations, ExxonMobil estimates

TOP 3 SECTORS ACCOUNT FOR 80% OF THE WORLD’S ENERGY-RELATED EMISSIONS 2017 global energy-related CO2 emissions by sector (Billion tonnes) 15 10 5 0 Power Industrial Commerical Light-duty Residential / generation transportation transportation Commerical ExxonMobil Energy Outlook 2019 See Supplemental Information OECD Non-OECDTOP 3 SECTORS ACCOUNT FOR 80% OF THE WORLD’S ENERGY-RELATED EMISSIONS 2017 global energy-related CO2 emissions by sector (Billion tonnes) 15 10 5 0 Power Industrial Commerical Light-duty Residential / generation transportation transportation Commerical ExxonMobil Energy Outlook 2019 See Supplemental Information OECD Non-OECD

HISTORICAL EMISSION MITIGATION MOSTLY THROUGH HIGHER EFFICIENCY – ENERGY SYSTEMS MUST CHANGE TO MEET SOCIETY’S CLIMATE GOALS KBTU OF ENERGY USED PER DOLLAR OF GLOBAL GDP 2018 Outlook for Energy performance pathway 1980 2040 hypothetical 2° C performance levels* 2015 2040 TONNE CO PER BILLION BTU OF GLOBAL ENERGY 2 * Based on average Stanford EMF27 full technology / 450ppm scenarios’ CO emissions (~20 billion tonnes 2 including energy and industrial processes), ExxonMobil GDP assumptions consistent with 2018 OutlookHISTORICAL EMISSION MITIGATION MOSTLY THROUGH HIGHER EFFICIENCY – ENERGY SYSTEMS MUST CHANGE TO MEET SOCIETY’S CLIMATE GOALS KBTU OF ENERGY USED PER DOLLAR OF GLOBAL GDP 2018 Outlook for Energy performance pathway 1980 2040 hypothetical 2° C performance levels* 2015 2040 TONNE CO PER BILLION BTU OF GLOBAL ENERGY 2 * Based on average Stanford EMF27 full technology / 450ppm scenarios’ CO emissions (~20 billion tonnes 2 including energy and industrial processes), ExxonMobil GDP assumptions consistent with 2018 Outlook

ENERGY DIVERSITY – 2040 PROJECTED ENERGY MIX Oil Gas Coal Bioenergy Nuclear Wind | Solar Other Renewables 28% 25% 19% 11% 5% 5% 7% Source: IEAENERGY DIVERSITY – 2040 PROJECTED ENERGY MIX Oil Gas Coal Bioenergy Nuclear Wind | Solar Other Renewables 28% 25% 19% 11% 5% 5% 7% Source: IEA

ENERGY MIX SLOW TO CHANGE – OIL AND GAS NEEDED FOR DECADES ENERGY DEMAND IEA Stated Policies IEA SUSTAINABLE QUADS Scenario DEVELOPMENT SCENARIO, <2°C PATHWAY 750 Wind, Solar 500 Other renew. Nuclear Gas 250 Oil Coal 0 Bioenergy 1970 1980 1990 2000 2010 2019 2030 2040 2030 Source: IEA 2040ENERGY MIX SLOW TO CHANGE – OIL AND GAS NEEDED FOR DECADES ENERGY DEMAND IEA Stated Policies IEA SUSTAINABLE QUADS Scenario DEVELOPMENT SCENARIO, <2°C PATHWAY 750 Wind, Solar 500 Other renew. Nuclear Gas 250 Oil Coal 0 Bioenergy 1970 1980 1990 2000 2010 2019 2030 2040 2030 Source: IEA 2040

PROGRESSING SOLUTIONS DEPLETION SUPPORTS NEED FOR OIL & GAS INVESTMENTS UNDER ANY SCENARIO Global oil supply estimates (Million oil-equivalent barrels per day) 120 IEA STEPS demand 100 80 Average demand based on IPCC o Lower 2 C scenarios IEA SDS demand New supply required 60 40 20 Decline without investment 0 2019 2040 Excludes biofuels; Source: IHS, IEA, IPCC SR1.5, EM analyses o o 2 C scenarios based on IPCC Lower 2 C scenarios $12 trillion investments over the next 20 years are needed to support oil and gas demand (IEA)PROGRESSING SOLUTIONS DEPLETION SUPPORTS NEED FOR OIL & GAS INVESTMENTS UNDER ANY SCENARIO Global oil supply estimates (Million oil-equivalent barrels per day) 120 IEA STEPS demand 100 80 Average demand based on IPCC o Lower 2 C scenarios IEA SDS demand New supply required 60 40 20 Decline without investment 0 2019 2040 Excludes biofuels; Source: IHS, IEA, IPCC SR1.5, EM analyses o o 2 C scenarios based on IPCC Lower 2 C scenarios $12 trillion investments over the next 20 years are needed to support oil and gas demand (IEA)

PROGRESSING SOLUTIONS ADDRESSING THE DUAL CHALLENGE PROVIDE PRODUCTS TO PROACTIVELY ENGAGING DEVELOP AND DEPLOY MITIGATING EMISSIONS HELP OUR CUSTOMERS ON CLIMATE-RELATED SCALABLE TECHNOLOGY IN COMPANY OPERATIONS REDUCE THEIR EMISSIONS POLICY SOLUTIONSPROGRESSING SOLUTIONS ADDRESSING THE DUAL CHALLENGE PROVIDE PRODUCTS TO PROACTIVELY ENGAGING DEVELOP AND DEPLOY MITIGATING EMISSIONS HELP OUR CUSTOMERS ON CLIMATE-RELATED SCALABLE TECHNOLOGY IN COMPANY OPERATIONS REDUCE THEIR EMISSIONS POLICY SOLUTIONS

ADVANCING ENERGY RESEARCH KBTU OF ENERGY USED PER DOLLAR OF GLOBAL GDP 2018 Outlook for Energy performance pathway IMPROVED 1980 BIOFUELS RESOURCE CAPTURE HYDROGEN 2040 hypothetical 2° C performance levels* 2015 BIOFUELS CARBON CAPTURE HYDROGEN 2040 PROCESS INTENSIFICATION CARBON PROCESS CAPTURE INTENSIFICATION TONNE CO PER BILLION BTU OF GLOBAL ENERGY 2 * Based on average Stanford EMF27 full technology / 450ppm scenarios’ CO emissions (~20 billion tonnes 2 including energy and industrial processes), ExxonMobil GDP assumptions consistent with 2018 OutlookADVANCING ENERGY RESEARCH KBTU OF ENERGY USED PER DOLLAR OF GLOBAL GDP 2018 Outlook for Energy performance pathway IMPROVED 1980 BIOFUELS RESOURCE CAPTURE HYDROGEN 2040 hypothetical 2° C performance levels* 2015 BIOFUELS CARBON CAPTURE HYDROGEN 2040 PROCESS INTENSIFICATION CARBON PROCESS CAPTURE INTENSIFICATION TONNE CO PER BILLION BTU OF GLOBAL ENERGY 2 * Based on average Stanford EMF27 full technology / 450ppm scenarios’ CO emissions (~20 billion tonnes 2 including energy and industrial processes), ExxonMobil GDP assumptions consistent with 2018 Outlook

UPSTREAM M I C H A E L D E A L V I C E P R E S I D E N T O F U P S T R E A M R E S E A R C H , T E C H N O L O G Y & D I G I T A L D E V E L O P M E N TUPSTREAM M I C H A E L D E A L V I C E P R E S I D E N T O F U P S T R E A M R E S E A R C H , T E C H N O L O G Y & D I G I T A L D E V E L O P M E N T

EXXONMOBIL CORPORATION A fully integrated oil and gas company providing reliable, affordable energy to the world Upstream Chemical Fuels & Lubricants Exploration Development Production Gas & Power Fuels Value Lubricants Chemical Chain Value Chain Value Chains 20EXXONMOBIL CORPORATION A fully integrated oil and gas company providing reliable, affordable energy to the world Upstream Chemical Fuels & Lubricants Exploration Development Production Gas & Power Fuels Value Lubricants Chemical Chain Value Chain Value Chains 20

INDUSTRIES WHERE EXXONMOBIL DELIVERS SOLUTIONS Adhesives and sealants Agriculture Automotive Building and construction Compounding Commercial Marine Healthcare and medical Industrial applications Nonwovens Oil and gas Consumer products Packaging Transportation Wind energy Synthetic base stocks 21INDUSTRIES WHERE EXXONMOBIL DELIVERS SOLUTIONS Adhesives and sealants Agriculture Automotive Building and construction Compounding Commercial Marine Healthcare and medical Industrial applications Nonwovens Oil and gas Consumer products Packaging Transportation Wind energy Synthetic base stocks 21

SAFETY COMMITMENT Safety is a core value at ExxonMobil. We operate in a manner that helps protect our employees, contractors, customers and the communities where we operate. Our approach to safety includes identifying possible risks, implementing measures to prevent potential incidents, and educating employees and contractors about unsafe behaviors. For 27 years, our Operations Integrity Management System (OIMS) has established a set of worldwide expectations for addressing risks inherent to our business, including safety risks. Our work procedures embed OIMS into our everyday work processes at all levels of the organization. Personnel safety Emergency preparedness Lost-time incident rate* 2019 PERFORMANCE HIGHLIGHTS Process safety Incidents per 200,000 work hours From a Lost-Time Incident Rate (LTIR) ExxonMobil has an unwavering ExxonMobil is prepared to respond to a perspective, our workforce remains commitment to helping protect our wide array of emergency events, ~80% improvement in significantly safer than the industry as a people, the community and the including natural disasters, pandemics whole. XTO Energy, our unconventional environment by seeking to manage the and operational incidents. Regardless of lost-time incident rate exploration and production unit, continued risks inherent to our operations. Our the size, severity or cause of an event, each its year-on-year improvement trend and Operations Integrity Management System ExxonMobil facility and business unit has since 2000 achieved its best-ever LTIR results in 2019. (OIMS) serves as the foundation for access to trained responders and Our Fuels & Lubricants and Chemical managing process safety risks and resources. Cross-functional teams develop businesses continue to outperform their establishes clear process safety and practice emergency response tactics Since 2000, we have achieved a nearly 80 respective industry benchmarks. expectations, which are distributed through incident management teams and percent improvement in our workforce throughout our management systems. The emergency support groups around the lost-time incident rate. In 2019, we enhanced our focus on defining safeguards needed to protect against world. consistent Life Saving Actions, or process safety risks are built into OIMS and safeguards, for higher-consequence work integral to the way our facilities are This preparation enables ExxonMobil’s associated with lifting and rigging, and with designed, operated and maintained. We global operations to provide a robust work around mobile equipment. These verify and rigorously maintain these response in emergency situations to help actions are applicable to day-to-day safeguards to prevent or mitigate the protect the safety of people and the 27 years of OIMS activities where ExxonMobil and industry consequences of a process safety event. environment. ExxonMobil’s 2019 total workforce (employees and contractors) lost-time experience has shown tragic personnel incident rate per 200,000 work hours was 0.033, similar to our performance in For 27 years, our Operations Integrity safety outcomes still occur. We collaborate with our peers and 2018. In 2019, our employee total lost-time incident rate per 200,000 work In 2019, we carried out a Regional Management System has established a hours was 0.031 and our contractor lost-time incident rate per 200,000 work industry associations to share lessons Response Team exercise in Egypt to hours was 0.034. When compared with the American Petroleum Institute U.S. set of worldwide expectations for We work with our employees and learned. For example, we are actively petroleum industry workforce benchmark, ExxonMobil continues to be among demonstrate the readiness to plan and addressing risks inherent to our business, the industry leaders in safety performance.. contractors to understand Life Saving engaged in the Advancing Process Safety execute real-time field deployments including safety risks. Actions for these higher-consequence initiative, a collaborative effort between the *Incidents include injuries and illnesses. We base our safety data on effectively, based on the response actions information available at the time of publication. Workforce includes activities and how to verify critical, American Fuel and Petrochemical included in the Egyptian National Oil Spill employees and contractors. Depending on the reporting year, around 2 to 12 effective safeguards are in place before Manufacturers and the American Petroleum percent of the lost-time incidents are illness-related Contingency Plan. With more than 150 the work begins and during execution. Institute. The initiative aims to improve participants representing 27 countries, the With our focus on eliminating the most process safety performance across industry five day exercise strengthened alignment on serious incidents, we extended a steady by sharing experiences and knowledge response objectives between key multiyear improvement trend in 2019, while about process safety events, hazard stakeholders and the Regional Response also achieving a historically low rate of high- identification metrics and industry-proven Team. consequence injuries practices. Key Technology Capabilities Process Safety, Process Engineering, Materials Integrity, Facilities & Equipment, Process Control Systems 22SAFETY COMMITMENT Safety is a core value at ExxonMobil. We operate in a manner that helps protect our employees, contractors, customers and the communities where we operate. Our approach to safety includes identifying possible risks, implementing measures to prevent potential incidents, and educating employees and contractors about unsafe behaviors. For 27 years, our Operations Integrity Management System (OIMS) has established a set of worldwide expectations for addressing risks inherent to our business, including safety risks. Our work procedures embed OIMS into our everyday work processes at all levels of the organization. Personnel safety Emergency preparedness Lost-time incident rate* 2019 PERFORMANCE HIGHLIGHTS Process safety Incidents per 200,000 work hours From a Lost-Time Incident Rate (LTIR) ExxonMobil has an unwavering ExxonMobil is prepared to respond to a perspective, our workforce remains commitment to helping protect our wide array of emergency events, ~80% improvement in significantly safer than the industry as a people, the community and the including natural disasters, pandemics whole. XTO Energy, our unconventional environment by seeking to manage the and operational incidents. Regardless of lost-time incident rate exploration and production unit, continued risks inherent to our operations. Our the size, severity or cause of an event, each its year-on-year improvement trend and Operations Integrity Management System ExxonMobil facility and business unit has since 2000 achieved its best-ever LTIR results in 2019. (OIMS) serves as the foundation for access to trained responders and Our Fuels & Lubricants and Chemical managing process safety risks and resources. Cross-functional teams develop businesses continue to outperform their establishes clear process safety and practice emergency response tactics Since 2000, we have achieved a nearly 80 respective industry benchmarks. expectations, which are distributed through incident management teams and percent improvement in our workforce throughout our management systems. The emergency support groups around the lost-time incident rate. In 2019, we enhanced our focus on defining safeguards needed to protect against world. consistent Life Saving Actions, or process safety risks are built into OIMS and safeguards, for higher-consequence work integral to the way our facilities are This preparation enables ExxonMobil’s associated with lifting and rigging, and with designed, operated and maintained. We global operations to provide a robust work around mobile equipment. These verify and rigorously maintain these response in emergency situations to help actions are applicable to day-to-day safeguards to prevent or mitigate the protect the safety of people and the 27 years of OIMS activities where ExxonMobil and industry consequences of a process safety event. environment. ExxonMobil’s 2019 total workforce (employees and contractors) lost-time experience has shown tragic personnel incident rate per 200,000 work hours was 0.033, similar to our performance in For 27 years, our Operations Integrity safety outcomes still occur. We collaborate with our peers and 2018. In 2019, our employee total lost-time incident rate per 200,000 work In 2019, we carried out a Regional Management System has established a hours was 0.031 and our contractor lost-time incident rate per 200,000 work industry associations to share lessons Response Team exercise in Egypt to hours was 0.034. When compared with the American Petroleum Institute U.S. set of worldwide expectations for We work with our employees and learned. For example, we are actively petroleum industry workforce benchmark, ExxonMobil continues to be among demonstrate the readiness to plan and addressing risks inherent to our business, the industry leaders in safety performance.. contractors to understand Life Saving engaged in the Advancing Process Safety execute real-time field deployments including safety risks. Actions for these higher-consequence initiative, a collaborative effort between the *Incidents include injuries and illnesses. We base our safety data on effectively, based on the response actions information available at the time of publication. Workforce includes activities and how to verify critical, American Fuel and Petrochemical included in the Egyptian National Oil Spill employees and contractors. Depending on the reporting year, around 2 to 12 effective safeguards are in place before Manufacturers and the American Petroleum percent of the lost-time incidents are illness-related Contingency Plan. With more than 150 the work begins and during execution. Institute. The initiative aims to improve participants representing 27 countries, the With our focus on eliminating the most process safety performance across industry five day exercise strengthened alignment on serious incidents, we extended a steady by sharing experiences and knowledge response objectives between key multiyear improvement trend in 2019, while about process safety events, hazard stakeholders and the Regional Response also achieving a historically low rate of high- identification metrics and industry-proven Team. consequence injuries practices. Key Technology Capabilities Process Safety, Process Engineering, Materials Integrity, Facilities & Equipment, Process Control Systems 22

DRIVING VALUE CREATION AND INDUSTRY LEADING OPPORTUNITIES UPSTREAM DOWNSTREAM CHEMICAL FUNCTIONAL EXCELLENCE PEOPLE TECHNOLOGY SCALE INTEGRATION Industry-advantaged assets; Enables investment; accelerates Maximizes value; provides Strong culture of doing the right Commitment and hard work; optimized facilities; advances in experience and best practices; diversification; enables synergies things; effective systems and world-class capabilities; strong processes, products, and provides financial capacity procedures; consistent application retention and long tenure discoveries of knowledge 23DRIVING VALUE CREATION AND INDUSTRY LEADING OPPORTUNITIES UPSTREAM DOWNSTREAM CHEMICAL FUNCTIONAL EXCELLENCE PEOPLE TECHNOLOGY SCALE INTEGRATION Industry-advantaged assets; Enables investment; accelerates Maximizes value; provides Strong culture of doing the right Commitment and hard work; optimized facilities; advances in experience and best practices; diversification; enables synergies things; effective systems and world-class capabilities; strong processes, products, and provides financial capacity procedures; consistent application retention and long tenure discoveries of knowledge 23

UPSTREAM The strengths found in our ingenuity and global organization allow us to explore for and develop all resource types across the globe, relying on industry-leading technologies and capabilities to do so safely and responsibly. Our understanding of the global hydrocarbon endowment, coupled with our unique geoscience capabilities, allows us to identify and prioritize the development of the highest quality resources. With our experience and applied technologies, we can develop more oil and gas reserves at both new and mature fields. Advances in seismic imaging, reservoir simulation, drilling and facility design allow us to explore and develop deposits that were previously unidentified or unreachable. Major projects can be complex and capital intensive, which places a premium on execution excellence. ExxonMobil’s long history of a disciplined approach to investment, technological leadership and operational excellence positions us well to lead the industry in safely developing the most challenging projects. These projects include a diverse portfolio of conventional and unconventional opportunities; including oil, natural gas, heavy oil and deepwater projects. 24UPSTREAM The strengths found in our ingenuity and global organization allow us to explore for and develop all resource types across the globe, relying on industry-leading technologies and capabilities to do so safely and responsibly. Our understanding of the global hydrocarbon endowment, coupled with our unique geoscience capabilities, allows us to identify and prioritize the development of the highest quality resources. With our experience and applied technologies, we can develop more oil and gas reserves at both new and mature fields. Advances in seismic imaging, reservoir simulation, drilling and facility design allow us to explore and develop deposits that were previously unidentified or unreachable. Major projects can be complex and capital intensive, which places a premium on execution excellence. ExxonMobil’s long history of a disciplined approach to investment, technological leadership and operational excellence positions us well to lead the industry in safely developing the most challenging projects. These projects include a diverse portfolio of conventional and unconventional opportunities; including oil, natural gas, heavy oil and deepwater projects. 24

NATURAL GAS MARKETING Reliable supplies of natural gas and access to power are fundamental to the world’s economic growth and increased prosperity. ExxonMobil employs a global team of commercial experts to maximize the value of the company’s gas and natural gas liquids interests in meeting the growing needs of consumers around the world. With our detailed knowledge of global markets, we are able to capitalize on expanding natural gas and power markets. Natural gas, as an abundant lower-carbon fuel source, is expected to play an increasingly important role in powering the world’s economic growth over the coming decades. ExxonMobil is active and well positioned across the natural gas value chain in most major markets. Our global presence, combined with our ability to apply unique expertise across our Upstream, Downstream, and Chemical businesses, provides us with an important competitive advantage and leading capability to help meet the world’s growing energy demands. While ExxonMobil strives to provide the energy to meet increasing global demand, we maintain a relentless focus on safe operations. Safety is and always will be our number one priority. 25NATURAL GAS MARKETING Reliable supplies of natural gas and access to power are fundamental to the world’s economic growth and increased prosperity. ExxonMobil employs a global team of commercial experts to maximize the value of the company’s gas and natural gas liquids interests in meeting the growing needs of consumers around the world. With our detailed knowledge of global markets, we are able to capitalize on expanding natural gas and power markets. Natural gas, as an abundant lower-carbon fuel source, is expected to play an increasingly important role in powering the world’s economic growth over the coming decades. ExxonMobil is active and well positioned across the natural gas value chain in most major markets. Our global presence, combined with our ability to apply unique expertise across our Upstream, Downstream, and Chemical businesses, provides us with an important competitive advantage and leading capability to help meet the world’s growing energy demands. While ExxonMobil strives to provide the energy to meet increasing global demand, we maintain a relentless focus on safe operations. Safety is and always will be our number one priority. 25

EXECUTING GROWTH PLANS Deep portfolio of attractive unconventional, deepwater, and LNG opportunities Value / Pace might be different Major UNCONVENTIONAL DEEPWATER LNG projects Trading & optimization Revamps & improvements Guyana PNG Permian Guyana PNG Brazil Mozambique Brazil Mozambique • Includes diverse mix of resource types and shorter / longer-cycle developments • Provides optionality on investment timing and pace of development 26EXECUTING GROWTH PLANS Deep portfolio of attractive unconventional, deepwater, and LNG opportunities Value / Pace might be different Major UNCONVENTIONAL DEEPWATER LNG projects Trading & optimization Revamps & improvements Guyana PNG Permian Guyana PNG Brazil Mozambique Brazil Mozambique • Includes diverse mix of resource types and shorter / longer-cycle developments • Provides optionality on investment timing and pace of development 26

KEY GROWTH PROJECT PERMIAN Maximizing value balancing production rates, resource recovery, and capital efficiency MAXIMIZING LONG-TERM VALUE LOWER TOTAL DEVELOPMENT COSTS • Cube drilling simultaneously develops multiple stacked pay zones — Greatly reduces parent-child impacts — Maximizes resource recovery — Increases resource value (NPV) versus “best well” and “best bench” developments • Capital efficient large-scale cube development has multiple requirements — Capacity to run multiple rigs simultaneously — Surface infrastructure and logistics aligned with production ramp-up 27KEY GROWTH PROJECT PERMIAN Maximizing value balancing production rates, resource recovery, and capital efficiency MAXIMIZING LONG-TERM VALUE LOWER TOTAL DEVELOPMENT COSTS • Cube drilling simultaneously develops multiple stacked pay zones — Greatly reduces parent-child impacts — Maximizes resource recovery — Increases resource value (NPV) versus “best well” and “best bench” developments • Capital efficient large-scale cube development has multiple requirements — Capacity to run multiple rigs simultaneously — Surface infrastructure and logistics aligned with production ramp-up 27

KEY GROWTH PROJECT PERMIAN Maximizing value balancing production rates, resource recovery, and capital efficiency MAXIMIZING LONG-TERM VALUE LOWER TOTAL DEVELOPMENT COSTS • Understanding subsurface characteristics and fluid properties critical for successful cube development • Proprietary technologies provide a significant advantage — Key in selecting optimum well spacing and stacking, lateral length, and completion intensity — Cube sizes will vary by local geology and reservoir properties — Not all wells are spaced equally Key Technology Capabilities Subsurface prediction Lifecycle reservoir management & production optimization Unconventional development Right development concept Value Chain optimization: Well to Refinery/Chem plant 28KEY GROWTH PROJECT PERMIAN Maximizing value balancing production rates, resource recovery, and capital efficiency MAXIMIZING LONG-TERM VALUE LOWER TOTAL DEVELOPMENT COSTS • Understanding subsurface characteristics and fluid properties critical for successful cube development • Proprietary technologies provide a significant advantage — Key in selecting optimum well spacing and stacking, lateral length, and completion intensity — Cube sizes will vary by local geology and reservoir properties — Not all wells are spaced equally Key Technology Capabilities Subsurface prediction Lifecycle reservoir management & production optimization Unconventional development Right development concept Value Chain optimization: Well to Refinery/Chem plant 28

UNCONVENTIONAL RESEARCH AND DEVELOPMENT Programs shaped by business strategies RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY SIMULATION OF FRACTURING TECHNOLOGIES, VARYING LOADING PROFILES ADJUSTING LOADING RATES, DURATION, PEAK PRESSURE CURRENT TECHNOLOGY • Simulation of novel fracturing technologies suggests opportunities to increase reservoir contact area • Currently validating science via lab prototypes and planned field demonstrations Key Technology Capabilities: Modeling; Physical and Mathematical Sciences; Subsurface Prediction 29UNCONVENTIONAL RESEARCH AND DEVELOPMENT Programs shaped by business strategies RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY SIMULATION OF FRACTURING TECHNOLOGIES, VARYING LOADING PROFILES ADJUSTING LOADING RATES, DURATION, PEAK PRESSURE CURRENT TECHNOLOGY • Simulation of novel fracturing technologies suggests opportunities to increase reservoir contact area • Currently validating science via lab prototypes and planned field demonstrations Key Technology Capabilities: Modeling; Physical and Mathematical Sciences; Subsurface Prediction 29

KEY GROWTH PROJECT GUYANA Exploration and development success increasing value of deepwater portfolio DISCOVERED RESOURCE Boeb 10• Continuing to explore 6.6M acre Stabroek block > 8 Boeb • 5 discoveries in 2019; 1 discovery to date in 2020 • 16 discoveries out of 18 wells drilled on the Stabroek block 5 • Industry-leading technologies foundational to exploration success • “Explorer of the Year” three years in a row • Stabroek gross recoverable resource increased to more than 8 Boeb 0 2015 2016 2017 2018 2019 — Average discovery size “giant” (>500 Moeb) — More than 3 Boeb added in 2019 Key Technology Capabilities Subsurface prediction Lifecycle reservoir management & production optimization See supplemental information 30KEY GROWTH PROJECT GUYANA Exploration and development success increasing value of deepwater portfolio DISCOVERED RESOURCE Boeb 10• Continuing to explore 6.6M acre Stabroek block > 8 Boeb • 5 discoveries in 2019; 1 discovery to date in 2020 • 16 discoveries out of 18 wells drilled on the Stabroek block 5 • Industry-leading technologies foundational to exploration success • “Explorer of the Year” three years in a row • Stabroek gross recoverable resource increased to more than 8 Boeb 0 2015 2016 2017 2018 2019 — Average discovery size “giant” (>500 Moeb) — More than 3 Boeb added in 2019 Key Technology Capabilities Subsurface prediction Lifecycle reservoir management & production optimization See supplemental information 30

TECHNOLOGY DEPLOYMENTS DEEPWATER Near-term value created through advances in existing capabilities, processes, and products RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY Integrates subsurface modeling capabilities in In EVtegrate OLUTION OF d SEISRe MIC se DATrvo A IN Gir UYANA • High-quality subsurface imaging from proprietary seismic seismic inversion and parallel reservoir simulation Modeling and Simulation design and processing that leverage our high-performance computing clusters, resulting in rapid (100x faster) scenario • Exploration success in Guyana underpinned by 3D testing seismic processing and interpretation technology 2015 — 16 of 18 wells resulted in discoveries — More than 8 Boeb recoverable resource base Additional reservoir identified in Liza complex • Leveraged advanced processing and interpretation — Linking seismic data to well results — Calibrating data for better understanding and identification of 2018 prospects — Key input for reservoir modeling and development planning Key Technology Capabilities Subsurface prediction, Lifecycle reservoir management and production optimization 31TECHNOLOGY DEPLOYMENTS DEEPWATER Near-term value created through advances in existing capabilities, processes, and products RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY Integrates subsurface modeling capabilities in In EVtegrate OLUTION OF d SEISRe MIC se DATrvo A IN Gir UYANA • High-quality subsurface imaging from proprietary seismic seismic inversion and parallel reservoir simulation Modeling and Simulation design and processing that leverage our high-performance computing clusters, resulting in rapid (100x faster) scenario • Exploration success in Guyana underpinned by 3D testing seismic processing and interpretation technology 2015 — 16 of 18 wells resulted in discoveries — More than 8 Boeb recoverable resource base Additional reservoir identified in Liza complex • Leveraged advanced processing and interpretation — Linking seismic data to well results — Calibrating data for better understanding and identification of 2018 prospects — Key input for reservoir modeling and development planning Key Technology Capabilities Subsurface prediction, Lifecycle reservoir management and production optimization 31

KEY GROWTH PROJECTS LNG Long-term demand driven by increasing power generation and lower emissions profile GLOBAL INDUSTRY LNG SUPPLY AND DEMAND EXXONMOBIL GLOBAL LNG SUPPLY Mta Market supply 700 Average of third party outlooks 6% New developments Demand 6% AAGR Under 350 2010 - 2019 3% construction Existing Existing supply ExxonMobil position 0% 0 2019 2025 2030 2010 2015 2020 2025 2030 2035 Source: Wood Mackenzie LNG tool and ExxonMobil analysis • LNG demand remains strong, driven by competitive costs and lower emissions in power generation • Additional ~210 Mta of capacity required by 2035; equivalent to ~60% of 2020 global demand • Portfolio of LNG developments maintains global supply position at ~6% — Key projects in Mozambique, PNG, and Golden Pass Key Technology Capabilities See supplemental information Facilities & Equipment, Materials Integrity 32KEY GROWTH PROJECTS LNG Long-term demand driven by increasing power generation and lower emissions profile GLOBAL INDUSTRY LNG SUPPLY AND DEMAND EXXONMOBIL GLOBAL LNG SUPPLY Mta Market supply 700 Average of third party outlooks 6% New developments Demand 6% AAGR Under 350 2010 - 2019 3% construction Existing Existing supply ExxonMobil position 0% 0 2019 2025 2030 2010 2015 2020 2025 2030 2035 Source: Wood Mackenzie LNG tool and ExxonMobil analysis • LNG demand remains strong, driven by competitive costs and lower emissions in power generation • Additional ~210 Mta of capacity required by 2035; equivalent to ~60% of 2020 global demand • Portfolio of LNG developments maintains global supply position at ~6% — Key projects in Mozambique, PNG, and Golden Pass Key Technology Capabilities See supplemental information Facilities & Equipment, Materials Integrity 32

FUELS VALUE CHAIN R I C H A R D S E N I O R V I C E P R E S I D E N T O F E M R E F U E L S , P R O C E S S A N D O P T I M I Z A T I O N T E C H N O L O G Y 34FUELS VALUE CHAIN R I C H A R D S E N I O R V I C E P R E S I D E N T O F E M R E F U E L S , P R O C E S S A N D O P T I M I Z A T I O N T E C H N O L O G Y 34

Downstream As the largest global refiner, the majority of our refining capacity is integrated with our lubricants and/or chemical businesses. ExxonMobil’s global Fuels & Lubricants organization drives the efficient development and deployment of global best-practices and new technologies. We manufacture and distribute products derived from crude oil and other feedstocks. Our global network of manufacturing plants, transportation systems and distribution centers provides fuels, lubricants and other high-value products to customers. We are the world’s leading supplier of lubricant basestocks and the largest global marketer of finished lubricants. Supported by a highly trained field force, a strong distributor network and abundant supply, ExxonMobil delivers high-quality products and application expertise to customers around the world. We also create long-term value by selling high-quality products and services daily to millions of customers across the globe. We market our Synergy™ fuels and other products to millions of customers worldwide through Esso, Exxon and Mobil- branded retail service stations, as well as global business-to-business segments — Industrial, Wholesale Fuels, Aviation Fuels & Lubricants, and Marine Fuels & Lubricants. 35Downstream As the largest global refiner, the majority of our refining capacity is integrated with our lubricants and/or chemical businesses. ExxonMobil’s global Fuels & Lubricants organization drives the efficient development and deployment of global best-practices and new technologies. We manufacture and distribute products derived from crude oil and other feedstocks. Our global network of manufacturing plants, transportation systems and distribution centers provides fuels, lubricants and other high-value products to customers. We are the world’s leading supplier of lubricant basestocks and the largest global marketer of finished lubricants. Supported by a highly trained field force, a strong distributor network and abundant supply, ExxonMobil delivers high-quality products and application expertise to customers around the world. We also create long-term value by selling high-quality products and services daily to millions of customers across the globe. We market our Synergy™ fuels and other products to millions of customers worldwide through Esso, Exxon and Mobil- branded retail service stations, as well as global business-to-business segments — Industrial, Wholesale Fuels, Aviation Fuels & Lubricants, and Marine Fuels & Lubricants. 35

EFFICIENT MANUFACTURING Scale and integration provide significant cost advantages SCALE OPEX • Average refinery capacity 75% higher than industry Indexed vs. industry Indexed vs. industry 100% 180% • Cost advantage of 10% compared to average refiner, resulting in $900M annual benefit • First-quartile energy efficiency with 34 120% 90% cogeneration units across network • Advanced analytics, applied across global refining network, strengthen efficiency and reliability 60% 80% Industry ExxonMobil Industry ExxonMobil Key Technology Capabilities Source: S&P Global Platts and ExxonMobil analysis Source: Solomon 2018 data, ExxonMobil estimates Facilities & Equipment, Modeling & Optimization, Materials Integrity, Process Control Systems, Process Innovation & Development, Active Materials, Process Engineering 36EFFICIENT MANUFACTURING Scale and integration provide significant cost advantages SCALE OPEX • Average refinery capacity 75% higher than industry Indexed vs. industry Indexed vs. industry 100% 180% • Cost advantage of 10% compared to average refiner, resulting in $900M annual benefit • First-quartile energy efficiency with 34 120% 90% cogeneration units across network • Advanced analytics, applied across global refining network, strengthen efficiency and reliability 60% 80% Industry ExxonMobil Industry ExxonMobil Key Technology Capabilities Source: S&P Global Platts and ExxonMobil analysis Source: Solomon 2018 data, ExxonMobil estimates Facilities & Equipment, Modeling & Optimization, Materials Integrity, Process Control Systems, Process Innovation & Development, Active Materials, Process Engineering 36

EFFICIENT MANUFACTURING Scale and integration provide significant cost advantages • Interchange of process streams represents 30% of total crude processing at integrated sites • Enables lower feedstock costs and production of highest-value products • Synergies include shared resources, interconnected facilities, and coordinated operating practices Key Technology Capabilities Process Safety, Process Engineering, Process Control Systems, Materials Integrity, Facilities & Equipment, Environmental, Modeling & Optimization, Product-specific capabilities 37EFFICIENT MANUFACTURING Scale and integration provide significant cost advantages • Interchange of process streams represents 30% of total crude processing at integrated sites • Enables lower feedstock costs and production of highest-value products • Synergies include shared resources, interconnected facilities, and coordinated operating practices Key Technology Capabilities Process Safety, Process Engineering, Process Control Systems, Materials Integrity, Facilities & Equipment, Environmental, Modeling & Optimization, Product-specific capabilities 37

IMPROVING REFINERY CONFIGURATION Upgrading production with proprietary technology and portfolio highgrading REFINING CONFIGURATION – 2023 • Higher conversion advantaged by up to $7/bbl in Kbd recent years ‘08 ‘23 • Leading global coking capacity, mostly in North ‘19 2,000 America • Portfolio highgrading with 14 refinery divestments and three advantaged projects to upgrade low-value products 1,000 • Advancing technology solutions to further improve yields at industry-leading cost of supply • Increasing capacity for Permian light oil in U.S. Gulf 0 Coast Asia North America Europe Medium conversion High conversion Low conversion Key Technology Capabilities Source: ExxonMobil analysis of refining configuration Process Innovation & Development, Active Materials, Process Engineering, See supplemental information Facilities & Equipment, Modeling & Optimization 38IMPROVING REFINERY CONFIGURATION Upgrading production with proprietary technology and portfolio highgrading REFINING CONFIGURATION – 2023 • Higher conversion advantaged by up to $7/bbl in Kbd recent years ‘08 ‘23 • Leading global coking capacity, mostly in North ‘19 2,000 America • Portfolio highgrading with 14 refinery divestments and three advantaged projects to upgrade low-value products 1,000 • Advancing technology solutions to further improve yields at industry-leading cost of supply • Increasing capacity for Permian light oil in U.S. Gulf 0 Coast Asia North America Europe Medium conversion High conversion Low conversion Key Technology Capabilities Source: ExxonMobil analysis of refining configuration Process Innovation & Development, Active Materials, Process Engineering, See supplemental information Facilities & Equipment, Modeling & Optimization 38

EVOLVING FUEL PRODUCT PORTFOLIO Supporting the transportation industry’s drive to help customers increase fuel efficiency and lower their emissions – Synergy™ Gasoline – Synergy™ Diesel Efficient – EMF.5™ marine fuels – OEM low-emissions fuels collaborations Driven by Meets society’s Affordable Key Technology Capabilities consumer sustainability Combustion Science & Emissions; choice goals Powertrain & After treatment; Product Testing; Additive Chemistry & Formulation; Demonstrated Supported by Deployable Life Cycle Analysis across feed-process- technical readiness regulation across Product for transportation fuels markets Infrastructure to Reliable supply Scalable support deployment chain 39EVOLVING FUEL PRODUCT PORTFOLIO Supporting the transportation industry’s drive to help customers increase fuel efficiency and lower their emissions – Synergy™ Gasoline – Synergy™ Diesel Efficient – EMF.5™ marine fuels – OEM low-emissions fuels collaborations Driven by Meets society’s Affordable Key Technology Capabilities consumer sustainability Combustion Science & Emissions; choice goals Powertrain & After treatment; Product Testing; Additive Chemistry & Formulation; Demonstrated Supported by Deployable Life Cycle Analysis across feed-process- technical readiness regulation across Product for transportation fuels markets Infrastructure to Reliable supply Scalable support deployment chain 39

END TO END VALUE CHAIN OPTIMIZATION INTEGRATED VALUE CHAINS SOME TYPES OF OPTIMIZATION PROBLEMS WE SOLVE BLENDING NETWORK CRUDE PURCHASE REAL-TIME REFINERY DESIGN PLANNING* OPTIMIZATION CONTROL FLEET SIZE MARINE TRANSP. CARGO INVENTORY CIRCUIT SUPPLY PLANNING PLANNING* SCHEDULING FORECASTING PLANNING Key Technology Capabilities Materials Molecular and Physical Characterization, Advanced Math Modeling & Optimization, Process Control Systems, Process Engineering, Product Formulation/Blending 40END TO END VALUE CHAIN OPTIMIZATION INTEGRATED VALUE CHAINS SOME TYPES OF OPTIMIZATION PROBLEMS WE SOLVE BLENDING NETWORK CRUDE PURCHASE REAL-TIME REFINERY DESIGN PLANNING* OPTIMIZATION CONTROL FLEET SIZE MARINE TRANSP. CARGO INVENTORY CIRCUIT SUPPLY PLANNING PLANNING* SCHEDULING FORECASTING PLANNING Key Technology Capabilities Materials Molecular and Physical Characterization, Advanced Math Modeling & Optimization, Process Control Systems, Process Engineering, Product Formulation/Blending 40

LUBES VALUE CHAIN M I K E K E R B Y V I C E P R E S I D E N T O F L U B R I C A N T S T E C H N O L O G YLUBES VALUE CHAIN M I K E K E R B Y V I C E P R E S I D E N T O F L U B R I C A N T S T E C H N O L O G Y

EVOLVING DEMAND Robust demand growth for higher-value products LIQUIDS DEMAND GROWTH • Fuel economy standards drive increasing demand Indexed to 2017 for higher-quality lubricants and Group II basestocks Group II 140% 1 basestock Chemical • Increase in demand for chemical products underpins 2 feedstock growth in refining feedstocks 3 Distillates • Demand for distillates grows due to increasing Gasoline commercial transportation and aviation 100% • Gasoline consumption moderates with improved efficiency of light-duty fleet 4 Fuel oil • Fuel oil demand projected to decline 25% with IMO low-sulfur standards 60% Key Technology Capabilities 2017 2020 2025 Process Innovation & Development, Active Materials, Process Source: 2019 ExxonMobil Outlook for Energy and additional ExxonMobil analysis Engineering, Facilities & Equipment, Lubes, Fuels, and 1) ExxonMobil analysis – Group II 2) ExxonMobil estimate includes LPG, naphtha, and gasoil Chemicals-Specific Technology Capabilities, Modeling & 3) Include kerosene and jet 4) Fuel oil represents high-sulfur fuel oil, International Maritime Organization (IMO) Optimization 42EVOLVING DEMAND Robust demand growth for higher-value products LIQUIDS DEMAND GROWTH • Fuel economy standards drive increasing demand Indexed to 2017 for higher-quality lubricants and Group II basestocks Group II 140% 1 basestock Chemical • Increase in demand for chemical products underpins 2 feedstock growth in refining feedstocks 3 Distillates • Demand for distillates grows due to increasing Gasoline commercial transportation and aviation 100% • Gasoline consumption moderates with improved efficiency of light-duty fleet 4 Fuel oil • Fuel oil demand projected to decline 25% with IMO low-sulfur standards 60% Key Technology Capabilities 2017 2020 2025 Process Innovation & Development, Active Materials, Process Source: 2019 ExxonMobil Outlook for Energy and additional ExxonMobil analysis Engineering, Facilities & Equipment, Lubes, Fuels, and 1) ExxonMobil analysis – Group II 2) ExxonMobil estimate includes LPG, naphtha, and gasoil Chemicals-Specific Technology Capabilities, Modeling & 3) Include kerosene and jet 4) Fuel oil represents high-sulfur fuel oil, International Maritime Organization (IMO) Optimization 42

LUBRICANTS VALUE CHAIN LEADERSHIP Leveraging global footprint across value chains MAJOR PROJECTS REVAMPS AND IMPROVEMENTS OPTIMIZATION, TRADING, MARKETING GLOBAL SYNTHETIC LUBRICANTS SALES GROWTH Indexed to 2011 • Fuel economy standards driving growth in synthetics 250% demand • ExxonMobil is the leading global supplier of synthetic 200% 1 lubricants ExxonMobil — Global sales have increased 9% per year since 2011 — Strong growth in China with sales volume doubling since 2015 150% Industry Key Technology Capabilities Product & Application Development Lubricants-Specific Technology Capabilities 100% Value chain optimization 2011 2019 2022 Source: Kline (industry), ExxonMobil estimates (ExxonMobil) 1 Kline 43 See supplemental informationLUBRICANTS VALUE CHAIN LEADERSHIP Leveraging global footprint across value chains MAJOR PROJECTS REVAMPS AND IMPROVEMENTS OPTIMIZATION, TRADING, MARKETING GLOBAL SYNTHETIC LUBRICANTS SALES GROWTH Indexed to 2011 • Fuel economy standards driving growth in synthetics 250% demand • ExxonMobil is the leading global supplier of synthetic 200% 1 lubricants ExxonMobil — Global sales have increased 9% per year since 2011 — Strong growth in China with sales volume doubling since 2015 150% Industry Key Technology Capabilities Product & Application Development Lubricants-Specific Technology Capabilities 100% Value chain optimization 2011 2019 2022 Source: Kline (industry), ExxonMobil estimates (ExxonMobil) 1 Kline 43 See supplemental information

HIGH-VALUE SYNTHETICS LUBRICANTS GROWTH Margin uplift* Barrel of Crude Basestocks 6x Waxes 10x Finished Lubricants 20x 1% Synthetic Lubricants60x • Strongest market position in industry: #1 * versus average ExxonMobil refinery margin basestocks • Value chain delivered significant earnings in 2019 Key Technology Capabilities Product & Application Development Lubricants-Specific Technology Capabilities Source: Kline & Company Value chain optimization See supplemental information 44HIGH-VALUE SYNTHETICS LUBRICANTS GROWTH Margin uplift* Barrel of Crude Basestocks 6x Waxes 10x Finished Lubricants 20x 1% Synthetic Lubricants60x • Strongest market position in industry: #1 * versus average ExxonMobil refinery margin basestocks • Value chain delivered significant earnings in 2019 Key Technology Capabilities Product & Application Development Lubricants-Specific Technology Capabilities Source: Kline & Company Value chain optimization See supplemental information 44

TECHNOLOGY DEPLOYMENTS DOWNSTREAM Near-term value created through advances in existing capabilities, processes, and products RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY Key Technology Capabilities Process Innovation & Development, Active Materials, Modeling, Process Engineering, Facilities & Equipment, Fuels and Lubes-Specific Capabilities SINGAPORE RESID UPGRADE TECHNOLOGY Residual Advanced analytical techniques Proprietary process Clean fuels and streams and compositional models and catalyst technology lubricant basestocks • Singapore resid upgrade project converts residual feed components to higher-value products • Significant technical achievement enabled by modeling, process, and catalyst capabilities 1 • Proprietary technology adds $200M to project annual earnings potential versus conventional upgrading 1 ExxonMobil assessment of Singapore resid upgrading technology versus alternative. Estimated technology contributions to project earnings. 45TECHNOLOGY DEPLOYMENTS DOWNSTREAM Near-term value created through advances in existing capabilities, processes, and products RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY Key Technology Capabilities Process Innovation & Development, Active Materials, Modeling, Process Engineering, Facilities & Equipment, Fuels and Lubes-Specific Capabilities SINGAPORE RESID UPGRADE TECHNOLOGY Residual Advanced analytical techniques Proprietary process Clean fuels and streams and compositional models and catalyst technology lubricant basestocks • Singapore resid upgrade project converts residual feed components to higher-value products • Significant technical achievement enabled by modeling, process, and catalyst capabilities 1 • Proprietary technology adds $200M to project annual earnings potential versus conventional upgrading 1 ExxonMobil assessment of Singapore resid upgrading technology versus alternative. Estimated technology contributions to project earnings. 45

CHEMICAL D A V E M C C O N V I L L E V I C E P R E S I D E N T O F C H E M I C A L T E C H N O L O G YCHEMICAL D A V E M C C O N V I L L E V I C E P R E S I D E N T O F C H E M I C A L T E C H N O L O G Y

CHEMICAL ExxonMobil Chemical is one of the largest chemical manufacturing companies in the world. Our unique portfolio of commodity and specialty businesses generates annual sales of nearly 25 million tonnes of prime products. We operate major manufacturing facilities in key markets around the world, and our products serve as the building blocks for a wide variety of everyday consumer and industrial products. We process feedstocks from ExxonMobil’s Upstream and Downstream operations, supplemented by market sources, to manufacture chemical products for higher- value end uses. We focus on product lines that capitalize on advantages in scale and technology, building on our strengths in advantaged feedstocks, lower-cost processes, and performance products. Visit ExxonMobil Chemical for more information. 47CHEMICAL ExxonMobil Chemical is one of the largest chemical manufacturing companies in the world. Our unique portfolio of commodity and specialty businesses generates annual sales of nearly 25 million tonnes of prime products. We operate major manufacturing facilities in key markets around the world, and our products serve as the building blocks for a wide variety of everyday consumer and industrial products. We process feedstocks from ExxonMobil’s Upstream and Downstream operations, supplemented by market sources, to manufacture chemical products for higher- value end uses. We focus on product lines that capitalize on advantages in scale and technology, building on our strengths in advantaged feedstocks, lower-cost processes, and performance products. Visit ExxonMobil Chemical for more information. 47

CURRENT ASSET PORTFOLIO Maintaining market leadership across majority of product applications 2019 29 Mta Market 1 position Example applications GAS OLE F I N STE A M D E R I VA TI VE CR A CK E R S P O L Y E T H Y L E N E LIQUIDS U NI TS Packaging, agricultural film, piping, liquid 1 containers P O L Y P R O P Y L E N E 9 Automotive, appliance, hygiene, diapers O T H E R 1 Fluids: drilling fluids, solvents CRUDE R E F I NE R Y E X A M P L E S : 1 Synthetics: lubricants F L U I D S S Y N T H E T I C S 1 Butyl: tires B U T Y L V I S T A M A X X 1 Vistamaxx: packaging, molded parts A R OMA TI CS P LA NTS 2 P A R A X Y L E N E 2 Clothing, food, liquid containers 1 IHS Markit and ExxonMobil estimates based on available data 2 Market position includes paraxylene and benzene Key Technology Capabilities (In addition to all those required for manufacturing support and process development Product & Application Development 48CURRENT ASSET PORTFOLIO Maintaining market leadership across majority of product applications 2019 29 Mta Market 1 position Example applications GAS OLE F I N STE A M D E R I VA TI VE CR A CK E R S P O L Y E T H Y L E N E LIQUIDS U NI TS Packaging, agricultural film, piping, liquid 1 containers P O L Y P R O P Y L E N E 9 Automotive, appliance, hygiene, diapers O T H E R 1 Fluids: drilling fluids, solvents CRUDE R E F I NE R Y E X A M P L E S : 1 Synthetics: lubricants F L U I D S S Y N T H E T I C S 1 Butyl: tires B U T Y L V I S T A M A X X 1 Vistamaxx: packaging, molded parts A R OMA TI CS P LA NTS 2 P A R A X Y L E N E 2 Clothing, food, liquid containers 1 IHS Markit and ExxonMobil estimates based on available data 2 Market position includes paraxylene and benzene Key Technology Capabilities (In addition to all those required for manufacturing support and process development Product & Application Development 48

EXPANDING ADVANTAGED PORTFOLIO Projects grow performance product volumes ADVANTAGED GROWTH PROJECTS PERFORMANCE PRODUCTS 2019 2025 2025 1 Earnings 29 Mta 34 Mta • Growing performance products to increase portfolio value Performance GAS OLE F I N OLE F I N• Higher-value performance products OLE F I N STE A M products D E R I VA DT EIR VIE VA TI VE D E R I VA TI VE CR A CK E R S LIQUIDS U NI TS U NI TS U NI TS translate to higher earnings 51 51 assets assets CRUDE Key Technology Capabilities R E F I NE R Y Product & Application Development, Process Innovation & Development, Active Materials, Polymer Catalysis, Modeling & Optimization, Commodity Process Engineering, Facilities & Equipment products 1 5 year average margins A R O MA TI CS P LA NTS 49EXPANDING ADVANTAGED PORTFOLIO Projects grow performance product volumes ADVANTAGED GROWTH PROJECTS PERFORMANCE PRODUCTS 2019 2025 2025 1 Earnings 29 Mta 34 Mta • Growing performance products to increase portfolio value Performance GAS OLE F I N OLE F I N• Higher-value performance products OLE F I N STE A M products D E R I VA DT EIR VIE VA TI VE D E R I VA TI VE CR A CK E R S LIQUIDS U NI TS U NI TS U NI TS translate to higher earnings 51 51 assets assets CRUDE Key Technology Capabilities R E F I NE R Y Product & Application Development, Process Innovation & Development, Active Materials, Polymer Catalysis, Modeling & Optimization, Commodity Process Engineering, Facilities & Equipment products 1 5 year average margins A R O MA TI CS P LA NTS 49

PERFORMANCE PRODUCTS DRIVE DIFFERENTIATION Leveraging technology to differentiate ExxonMobil through the value chain • Product demand growth 2018 46 new, innovative driven by customer PROGRESS 50% programs initiated application success SALES GROWTH BY 2025 5,000 • Collaborative innovation customers pipeline built up over decades 71 major plant 80 trials conducted application development teams • Local, market-facing 1,500 personnel in 33 countries customer trials 200 conducted performance products • Delivers 50% performance 8 new products products sales growth commercialized and from 2017-2025 6 new applications 2,500 new launched leads identified Key Technology Capabilities Product & Application Development, Process Innovation & Development, Polymer Catalysis, Modeling, Life Cycle Assessment 50PERFORMANCE PRODUCTS DRIVE DIFFERENTIATION Leveraging technology to differentiate ExxonMobil through the value chain • Product demand growth 2018 46 new, innovative driven by customer PROGRESS 50% programs initiated application success SALES GROWTH BY 2025 5,000 • Collaborative innovation customers pipeline built up over decades 71 major plant 80 trials conducted application development teams • Local, market-facing 1,500 personnel in 33 countries customer trials 200 conducted performance products • Delivers 50% performance 8 new products products sales growth commercialized and from 2017-2025 6 new applications 2,500 new launched leads identified Key Technology Capabilities Product & Application Development, Process Innovation & Development, Polymer Catalysis, Modeling, Life Cycle Assessment 50

TECHNOLOGY DEPLOYMENTS CHEMICAL Near-term value created through advances in existing capabilities, processes, and products RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY 1 PERFORMANCE POLYETHYLENE EVOLUTION • Polyethylene product evolution combined improvements in Indexed to commodity polyethylene properties with processability, enabled by: — Fundamental property and application understanding Processability Properties — Proprietary metallocene catalyst platform — Pilot plants to scale up laboratory leads • Enhanced properties improve sustainability – thinning and light-weighting of end products 1980s 1995 2008 2015 TM TM TM commodity PE Exceed Enable Exceed XP • Improvement in performance aligned with market demands, ExxonMobil performance PE grades contributes to higher margins Key Technology Capabilities Product & Application Development, Process Innovation & Development, Polymer Catalysis, Modeling, Life Cycle Assessment 51 1 See supplemental informationTECHNOLOGY DEPLOYMENTS CHEMICAL Near-term value created through advances in existing capabilities, processes, and products RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY 1 PERFORMANCE POLYETHYLENE EVOLUTION • Polyethylene product evolution combined improvements in Indexed to commodity polyethylene properties with processability, enabled by: — Fundamental property and application understanding Processability Properties — Proprietary metallocene catalyst platform — Pilot plants to scale up laboratory leads • Enhanced properties improve sustainability – thinning and light-weighting of end products 1980s 1995 2008 2015 TM TM TM commodity PE Exceed Enable Exceed XP • Improvement in performance aligned with market demands, ExxonMobil performance PE grades contributes to higher margins Key Technology Capabilities Product & Application Development, Process Innovation & Development, Polymer Catalysis, Modeling, Life Cycle Assessment 51 1 See supplemental information

PLASTIC PACKAGING BENEFITS AND WASTE SOLUTIONS Plastic provides sustainability benefits versus alternatives 1 PLASTIC PACKAGING VS. ALTERNATIVES • Significant plastic packaging benefits 2 Indexed to alternatives versus alternatives 100% — Lower life cycle GHG impacts — Alternatives generate ~5x the waste of plastic • Global waste issue is broader than plastics 50% • Advancing solutions for plastics — Founding member of Alliance to End Plastic Waste — Providing products that enhance recyclability — Working to transform plastic waste into feedstock 0% Energy Carbon Solid waste Water usage Key Technology Capabilities consumption footprint Product & Application Development, Process Innovation & Source: Franklin Associates study sponsored by ACC, 2018 Development, Polymer Catalysis, Modeling, Life Cycle Assessment, 1 Adapted from Franklin Associates “Life Cycle Impacts of Plastic Packaging …” study sponsored by ACC, Process Engineering, Facilities & Equipment 2018; U.S. results max decomposition case 2 Alternatives include steel, aluminum, glass, paper-based packaging, wood, fiber-based textiles 52 Alternatives PlasticsPLASTIC PACKAGING BENEFITS AND WASTE SOLUTIONS Plastic provides sustainability benefits versus alternatives 1 PLASTIC PACKAGING VS. ALTERNATIVES • Significant plastic packaging benefits 2 Indexed to alternatives versus alternatives 100% — Lower life cycle GHG impacts — Alternatives generate ~5x the waste of plastic • Global waste issue is broader than plastics 50% • Advancing solutions for plastics — Founding member of Alliance to End Plastic Waste — Providing products that enhance recyclability — Working to transform plastic waste into feedstock 0% Energy Carbon Solid waste Water usage Key Technology Capabilities consumption footprint Product & Application Development, Process Innovation & Source: Franklin Associates study sponsored by ACC, 2018 Development, Polymer Catalysis, Modeling, Life Cycle Assessment, 1 Adapted from Franklin Associates “Life Cycle Impacts of Plastic Packaging …” study sponsored by ACC, Process Engineering, Facilities & Equipment 2018; U.S. results max decomposition case 2 Alternatives include steel, aluminum, glass, paper-based packaging, wood, fiber-based textiles 52 Alternatives Plastics

CORPORATE OBJECTIVES CORPORATE OBJECTIVES V I J A Y S W A R U P V I C E P R E S I D E N T O F R E S E A R C H A N D E N G I N E E R I N G 53CORPORATE OBJECTIVES CORPORATE OBJECTIVES V I J A Y S W A R U P V I C E P R E S I D E N T O F R E S E A R C H A N D E N G I N E E R I N G 53

TECHNOLOGY ADVANCES NEEDED FOR EVOLVING ENERGY SYSTEM Near-term actions the Company is taking to prepare for a lower-carbon future, include: • Expanding supplies of cleaner-burning natural gas. • Improving energy efficiency in operations. • Operating and investing in carbon capture and storage. • Reducing flaring and methane emissions from operations. • Developing products, such as premium lubricants, light-weight plastics, and special tire liners to help consumers improve efficiency and reduce emissions. • Advocating for effective climate policy to address the risks of climate change at the lowest societal cost 54TECHNOLOGY ADVANCES NEEDED FOR EVOLVING ENERGY SYSTEM Near-term actions the Company is taking to prepare for a lower-carbon future, include: • Expanding supplies of cleaner-burning natural gas. • Improving energy efficiency in operations. • Operating and investing in carbon capture and storage. • Reducing flaring and methane emissions from operations. • Developing products, such as premium lubricants, light-weight plastics, and special tire liners to help consumers improve efficiency and reduce emissions. • Advocating for effective climate policy to address the risks of climate change at the lowest societal cost 54

TECHNOLOGY KEY TO REDUCING SOCIETAL COSTS OF 2ºC PATHWAY Costs borne by society to Technology Breakthrough Opportunities lower GHG emissions Power grid reliability & long-duration storage: Batteries, chemical storage, hydrogen o Hypothetical ~2 C ~2 B policy / technology Higher Lower-carbon commercial transport: algae & Below frontier cellulosic biofuels, fuel cells, batteries societal Poverty costs Lower-carbon industrial processes: carbon capture, hydrogen, process intensification Advanced, less carbon-intensive materials for efficient buildings and infrastructure Technology advances likely to reduce costs of policies on Negative emissions: bioenergy with carbon capture, society direct air capture, CO utilization 2 Lower societal costs Key Technology Capabilities Societal Costs / Technology matrix is illustrative only Technology Process Innovation & Development, Active Materials, Materials advancement Existing Advances Breakthrough Integrity, Modeling & Optimization, Physical and Mathematical (e.g. natural gas, (e.g. negative emissions, storage, Sciences, Process Engineering, Facilities & Equipment, Life Cycle wind, solar, CCS) CCU, advanced biofuels) Assessment, Environmental, Bioscience Source: ExxonMobil 2019 Outlook for Energy 55TECHNOLOGY KEY TO REDUCING SOCIETAL COSTS OF 2ºC PATHWAY Costs borne by society to Technology Breakthrough Opportunities lower GHG emissions Power grid reliability & long-duration storage: Batteries, chemical storage, hydrogen o Hypothetical ~2 C ~2 B policy / technology Higher Lower-carbon commercial transport: algae & Below frontier cellulosic biofuels, fuel cells, batteries societal Poverty costs Lower-carbon industrial processes: carbon capture, hydrogen, process intensification Advanced, less carbon-intensive materials for efficient buildings and infrastructure Technology advances likely to reduce costs of policies on Negative emissions: bioenergy with carbon capture, society direct air capture, CO utilization 2 Lower societal costs Key Technology Capabilities Societal Costs / Technology matrix is illustrative only Technology Process Innovation & Development, Active Materials, Materials advancement Existing Advances Breakthrough Integrity, Modeling & Optimization, Physical and Mathematical (e.g. natural gas, (e.g. negative emissions, storage, Sciences, Process Engineering, Facilities & Equipment, Life Cycle wind, solar, CCS) CCU, advanced biofuels) Assessment, Environmental, Bioscience Source: ExxonMobil 2019 Outlook for Energy 55

LOW-EMISSION RESEARCH AND DEVELOPMENT Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY METAL ORGANIC FRAMEWORK (MOF) FOR CCS • Collaborating with partners on novel, high-surface area materials for carbon capture — Partnerships combine metal organic framework expertise with ExxonMobil’s process scale-up capabilities • Progressing design of carbonate fuel cell (CFC) for CO capture 2 at Rotterdam refinery — Joint development with FuelCell Energy FUEL CELL TECHNOLOGY FOR CCS — Demonstration of CFC technology, supplying data to inform Natural commercial-scale developments gas Electricity FUEL • Advancing additional CCS technology-to-scale collaborations REFINERY CELL Hydrogen — Direct air capture with Global Thermostat — Multiple technologies via energy centers and national laboratories Low High concentration concentration CO CO sequestration 2 2 Key Technology Capabilities Process Innovation & Development, Active Materials, Modeling 56LOW-EMISSION RESEARCH AND DEVELOPMENT Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY METAL ORGANIC FRAMEWORK (MOF) FOR CCS • Collaborating with partners on novel, high-surface area materials for carbon capture — Partnerships combine metal organic framework expertise with ExxonMobil’s process scale-up capabilities • Progressing design of carbonate fuel cell (CFC) for CO capture 2 at Rotterdam refinery — Joint development with FuelCell Energy FUEL CELL TECHNOLOGY FOR CCS — Demonstration of CFC technology, supplying data to inform Natural commercial-scale developments gas Electricity FUEL • Advancing additional CCS technology-to-scale collaborations REFINERY CELL Hydrogen — Direct air capture with Global Thermostat — Multiple technologies via energy centers and national laboratories Low High concentration concentration CO CO sequestration 2 2 Key Technology Capabilities Process Innovation & Development, Active Materials, Modeling 56

LOW-EMISSION RESEARCH AND DEVELOPMENT Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY LAND PRODUCTIVITY OF BIOFUELS Bbls / acre / year • Algae represents opportunity to scale biofuels with 150 significantly higher land productivity versus alternatives • Advancing biology required for development of suitable algae strains with Synthetic Genomics 75• Demonstrated step-change improvements in biomass productivity across multiple algae species Key Technology Capabilities 0 Bioscience, Process Innovation & Development, Modeling, Algae 1 Soybean Corn Palm Sugarcane Algae 2 Life Cycle Assessment potential Collaboration with 1 Expected outdoor performance of current best strain. Outdoor testing in progress. 2 ExxonMobil assessment of near-term potential, based upon laboratory results and pace of biology progress. Outdoor testing in progress. 57LOW-EMISSION RESEARCH AND DEVELOPMENT Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY LAND PRODUCTIVITY OF BIOFUELS Bbls / acre / year • Algae represents opportunity to scale biofuels with 150 significantly higher land productivity versus alternatives • Advancing biology required for development of suitable algae strains with Synthetic Genomics 75• Demonstrated step-change improvements in biomass productivity across multiple algae species Key Technology Capabilities 0 Bioscience, Process Innovation & Development, Modeling, Algae 1 Soybean Corn Palm Sugarcane Algae 2 Life Cycle Assessment potential Collaboration with 1 Expected outdoor performance of current best strain. Outdoor testing in progress. 2 ExxonMobil assessment of near-term potential, based upon laboratory results and pace of biology progress. Outdoor testing in progress. 57

LOW-EMISSION RESEARCH AND DEVELOPMENT Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY AREA REQUIRED TO REPLACE 10% OF U.S. • Algae represents opportunity to scale biofuels with 1 TRANSPORTATION DEMAND significantly higher land productivity versus alternatives • Advancing biology required for development of suitable algae strains with Synthetic Genomics • Demonstrated step-change improvements in biomass Corn productivity across multiple algae species 2 Algae • Scale-up to outdoor growth systems in parallel with laboratory effort focuses on solving key biology and engineering challenges Collaboration with 3 Algae target • Progressing towards target of technical readiness for production of 10 Kbd by 2025 1 ExxonMobil analysis, U.S. gasoline and diesel demand Key Technology Capabilities 2 Microalgae without genetic engineering, outdoor average oil production 3 ExxonMobil biology target for outdoor average oil production from genetically engineered algae Bioscience, Process Innovation & Development, Modeling, Life Cycle Assessment, Process Engineering, Facilities & Equipment 58LOW-EMISSION RESEARCH AND DEVELOPMENT Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY AREA REQUIRED TO REPLACE 10% OF U.S. • Algae represents opportunity to scale biofuels with 1 TRANSPORTATION DEMAND significantly higher land productivity versus alternatives • Advancing biology required for development of suitable algae strains with Synthetic Genomics • Demonstrated step-change improvements in biomass Corn productivity across multiple algae species 2 Algae • Scale-up to outdoor growth systems in parallel with laboratory effort focuses on solving key biology and engineering challenges Collaboration with 3 Algae target • Progressing towards target of technical readiness for production of 10 Kbd by 2025 1 ExxonMobil analysis, U.S. gasoline and diesel demand Key Technology Capabilities 2 Microalgae without genetic engineering, outdoor average oil production 3 ExxonMobil biology target for outdoor average oil production from genetically engineered algae Bioscience, Process Innovation & Development, Modeling, Life Cycle Assessment, Process Engineering, Facilities & Equipment 58

NOVEL PRODUCTS RESEARCH AND DEVELOPMENT Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY PRODUCTS FOR STRUCTURAL APPLICATIONS HYDROCARBON PROCESSES Polymerization FEED Thermal chemistry • Leveraging catalysis and polymerization capabilities to develop sustainable materials for high-volume structural applications • Potential to replace high-CO intensity materials such as steel and cement 2 Key Technology Capabilities Process Innovation & Development, Polymers Chemistry and Catalysts, Active Materials, Product and Application Development 59NOVEL PRODUCTS RESEARCH AND DEVELOPMENT Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY PRODUCTS FOR STRUCTURAL APPLICATIONS HYDROCARBON PROCESSES Polymerization FEED Thermal chemistry • Leveraging catalysis and polymerization capabilities to develop sustainable materials for high-volume structural applications • Potential to replace high-CO intensity materials such as steel and cement 2 Key Technology Capabilities Process Innovation & Development, Polymers Chemistry and Catalysts, Active Materials, Product and Application Development 59

COLLABORATIONS ENABLE TECHNOLOGY SOLUTIONS Collaborations expand technology development and deployment RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY Demonstration Energy center 1 low-emission focus areas Renewable power Carbon capture Grid-scale electron storage Long-distance battery storage Hydrogen Gas conversion New products Liquids conversion • External collaborations combine university science capabilities with ExxonMobil’s expertise in scaling technology • Progressing joint research and development with academia, national laboratories, and industry partners 1 Covers active collaborations and proposals in progress 60COLLABORATIONS ENABLE TECHNOLOGY SOLUTIONS Collaborations expand technology development and deployment RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY Demonstration Energy center 1 low-emission focus areas Renewable power Carbon capture Grid-scale electron storage Long-distance battery storage Hydrogen Gas conversion New products Liquids conversion • External collaborations combine university science capabilities with ExxonMobil’s expertise in scaling technology • Progressing joint research and development with academia, national laboratories, and industry partners 1 Covers active collaborations and proposals in progress 60

RESEARCH AND DEVELOPMENT PORTFOLIO Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY Recovery and capital efficiency Unconventional Higher-value products Products Advanced models and simulations Subsurface Conversion of gas to higher-value products Gas conversion Advanced biofuels, CCS, and novel manufacturing technologies Low-emission 80 $1B 2,300 Annual R&D Ph.D. scientists University collaborations investment and engineers 61RESEARCH AND DEVELOPMENT PORTFOLIO Programs shaped by business strategies and the dual challenge RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY Recovery and capital efficiency Unconventional Higher-value products Products Advanced models and simulations Subsurface Conversion of gas to higher-value products Gas conversion Advanced biofuels, CCS, and novel manufacturing technologies Low-emission 80 $1B 2,300 Annual R&D Ph.D. scientists University collaborations investment and engineers 61

TECHNOLOGY KEY MESSAGES • Proven track record of translating fundamental science to commercial success • Near-term value created through advances in existing capabilities, processes, and products • Research and development programs shaped by business strategies and the dual challenge • Collaborating with external laboratories, companies, and universities expands technology development and deployment 62TECHNOLOGY KEY MESSAGES • Proven track record of translating fundamental science to commercial success • Near-term value created through advances in existing capabilities, processes, and products • Research and development programs shaped by business strategies and the dual challenge • Collaborating with external laboratories, companies, and universities expands technology development and deployment 62

ORGANIZATION OVERVIEW AND HISTORY OF INNOVATION V I J A Y S W A R U P V I C E P R E S I D E N T O F R E S E A R C H A N D E N G I N E E R I N G 63ORGANIZATION OVERVIEW AND HISTORY OF INNOVATION V I J A Y S W A R U P V I C E P R E S I D E N T O F R E S E A R C H A N D E N G I N E E R I N G 63

EXXONMOBIL TECHNOLOGY ORGANIZATIONS EXXONMOBIL CORPORATION UPSTREAM DOWNSTREAM CHEMICAL EMRE Upstream Integrated Fuels, Process & Opt. Chemical Technology Solutions (Research & Technology Lubes Technology Development, Surface, EMRE Engineering Subsurface, Digital, Wells) EMRE R&D Corporate Strategic Research, Process Technology, R&D Ops, Biomedical Sciences 64 Business Development Oil & Gas Fuels Value Chain Lubes Value Chain Performance Derivatives Basic Chemicals, Integration, GrowthEXXONMOBIL TECHNOLOGY ORGANIZATIONS EXXONMOBIL CORPORATION UPSTREAM DOWNSTREAM CHEMICAL EMRE Upstream Integrated Fuels, Process & Opt. Chemical Technology Solutions (Research & Technology Lubes Technology Development, Surface, EMRE Engineering Subsurface, Digital, Wells) EMRE R&D Corporate Strategic Research, Process Technology, R&D Ops, Biomedical Sciences 64 Business Development Oil & Gas Fuels Value Chain Lubes Value Chain Performance Derivatives Basic Chemicals, Integration, Growth

TECHNOLOGY PIPELINE FOR COMPETITIVE ADVANTAGE Proven track record of translating fundamental science to commercial scale RESEARCH AND DEVELOPMENT PROCESS/OPERATION PRODUCTS • Development, deployment of • Development, deployment of • Corporate-driven and new process technologies new products business-driven portfolios • Experts support for major • Extensions to new projects, extensions of current applications technology involvement and • Technical support for market troubleshooting development 65TECHNOLOGY PIPELINE FOR COMPETITIVE ADVANTAGE Proven track record of translating fundamental science to commercial scale RESEARCH AND DEVELOPMENT PROCESS/OPERATION PRODUCTS • Development, deployment of • Development, deployment of • Corporate-driven and new process technologies new products business-driven portfolios • Experts support for major • Extensions to new projects, extensions of current applications technology involvement and • Technical support for market troubleshooting development 65

TECHNOLOGY LEADERSHIP Proven track record of translating fundamental science to commercial scale RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY ADVANTAGE PROCESSES RESEARCH AND DEVELOPMENT PERFORMANCE PRODUCTS BUTYL RUBBER FLUID CATALYTIC CRACKING 3D SEISMIC • Alternative to natural rubber• Initially enabled production of high- • Revolutionized subsurface imaging quality aviation fuel • Many commercial applications • Enabled greater success in • Basis for further process and catalyst exploration and development advances 66TECHNOLOGY LEADERSHIP Proven track record of translating fundamental science to commercial scale RESEARCH AND DEVELOPMENT LEGACY OF INNOVATION APPLIED TECHNOLOGY ADVANTAGE PROCESSES RESEARCH AND DEVELOPMENT PERFORMANCE PRODUCTS BUTYL RUBBER FLUID CATALYTIC CRACKING 3D SEISMIC • Alternative to natural rubber• Initially enabled production of high- • Revolutionized subsurface imaging quality aviation fuel • Many commercial applications • Enabled greater success in • Basis for further process and catalyst exploration and development advances 66

EXXONMOBIL HISTORY OF TECHNOLOGY BREAKTHROUGHS DIGITAL SIMULATOR 3D SEISMIC LOW- SULFUR GASOLINE HIGH ADVANCED OCTANE METALLURGY GASOLINE PLASTIC SPECIALTY PLASTICS 1940 1950 1960 1970 1980 1990 2000 2010 T O D A Y SYNTHETIC ULTRA- CATALYST DEEPWATER MOBIL 1 MOBIL 1 DEVELOPMENT ANNUAL SYNTHETIC PROTECTION LUBRICANT EXTENDED- REACH TIRE DRILLING LITHIUM RUBBER BATTERIES ULTRA-LOW SULFUR DIESELEXXONMOBIL HISTORY OF TECHNOLOGY BREAKTHROUGHS DIGITAL SIMULATOR 3D SEISMIC LOW- SULFUR GASOLINE HIGH ADVANCED OCTANE METALLURGY GASOLINE PLASTIC SPECIALTY PLASTICS 1940 1950 1960 1970 1980 1990 2000 2010 T O D A Y SYNTHETIC ULTRA- CATALYST DEEPWATER MOBIL 1 MOBIL 1 DEVELOPMENT ANNUAL SYNTHETIC PROTECTION LUBRICANT EXTENDED- REACH TIRE DRILLING LITHIUM RUBBER BATTERIES ULTRA-LOW SULFUR DIESEL

SUMMARY AND NEXT STEPS R O B C R A N E P R O C E S S T E C H N O L O G Y M A N A G E R A N D A S S E S S M E N T L E A D , E X X O N M O B I L R E S E A R C H A N D E N G I N E E R I N GSUMMARY AND NEXT STEPS R O B C R A N E P R O C E S S T E C H N O L O G Y M A N A G E R A N D A S S E S S M E N T L E A D , E X X O N M O B I L R E S E A R C H A N D E N G I N E E R I N G

NEXT STEPS • Attend a live, 90-min Q&A session with presenters (Feb 19, Mar 8, Mar 30) • Attend panel discussion • Provide us your input 69NEXT STEPS • Attend a live, 90-min Q&A session with presenters (Feb 19, Mar 8, Mar 30) • Attend panel discussion • Provide us your input 69

4. Please comment on our facilities/equipment/labs and tools relative to KEY QUESTIONS FOR PANELISTS state of the art. 5. What alternatives to the capability exist external to ExxonMobil? 1a. Are there any capabilities you would add and why? People; Facilities/Equipment/Labs; Tools; Approaches 1b. Are there any capabilities you would change and why? a. What are potential opportunities for efficiency/effectiveness with 1c. Are there any capabilities you would eliminate and why? these alternatives? b. Where in the world do the capabilities exist? 2a. How well does the capability address the near term (5 yr) objectives and why? a. Who is the best? Are there new emerging entrants? 1. Inadequate b. What is the difference between the capabilities available in 2. Below Expectation geographic locations? 3. Meets Expectation c. Are they accessible to ExxonMobil? 4. Above Expectation 5. Beyond Expectation 6a. Where are there synergies between capabilities and/or between 2b. How well does the capability address the longer term (5 – 20+ yr) objectives and why? technology groups that we are not capturing or not fully exploiting? 1. Inadequate 6b. Why are these synergies valuable to capture? 2. Below Expectation 6c. What could we do to fully exploit these synergies? 3. Meets Expectation 4. Above Expectation 7. Did you identify any areas where there may be duplicate efforts in our 5. Beyond Expectation capabilities? If so, please specify where the duplication of efforts exists and if it is causing inefficiencies? 3. How are the capabilities positioned relative to competitors? 8. Which other capabilities or emerging science areas could significantly impact our ability to meet objectives? 9a. Based on our near term objectives, is the need for this capability expected to increase, decrease, or stay the same? 9b. Based on our longer term objectives, is the need for this capability expected to increase, decrease, or stay the same? 10. What is the ability to differentiate each capability? 70 High / Medium/ Low4. Please comment on our facilities/equipment/labs and tools relative to KEY QUESTIONS FOR PANELISTS state of the art. 5. What alternatives to the capability exist external to ExxonMobil? 1a. Are there any capabilities you would add and why? People; Facilities/Equipment/Labs; Tools; Approaches 1b. Are there any capabilities you would change and why? a. What are potential opportunities for efficiency/effectiveness with 1c. Are there any capabilities you would eliminate and why? these alternatives? b. Where in the world do the capabilities exist? 2a. How well does the capability address the near term (5 yr) objectives and why? a. Who is the best? Are there new emerging entrants? 1. Inadequate b. What is the difference between the capabilities available in 2. Below Expectation geographic locations? 3. Meets Expectation c. Are they accessible to ExxonMobil? 4. Above Expectation 5. Beyond Expectation 6a. Where are there synergies between capabilities and/or between 2b. How well does the capability address the longer term (5 – 20+ yr) objectives and why? technology groups that we are not capturing or not fully exploiting? 1. Inadequate 6b. Why are these synergies valuable to capture? 2. Below Expectation 6c. What could we do to fully exploit these synergies? 3. Meets Expectation 4. Above Expectation 7. Did you identify any areas where there may be duplicate efforts in our 5. Beyond Expectation capabilities? If so, please specify where the duplication of efforts exists and if it is causing inefficiencies? 3. How are the capabilities positioned relative to competitors? 8. Which other capabilities or emerging science areas could significantly impact our ability to meet objectives? 9a. Based on our near term objectives, is the need for this capability expected to increase, decrease, or stay the same? 9b. Based on our longer term objectives, is the need for this capability expected to increase, decrease, or stay the same? 10. What is the ability to differentiate each capability? 70 High / Medium/ Low

THANK YOU 71THANK YOU 71

Important Additional Information Regarding Proxy Solicitation

Exxon Mobil Corporation (“ExxonMobil”) intends to file a proxy statement and associated BLUE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for ExxonMobil’s 2021 Annual Meeting (the “Proxy Statement”). ExxonMobil, its directors and certain of its executive officers will be participants in the solicitation of proxies from shareholders in respect of the 2021 Annual Meeting. Information regarding the names of ExxonMobil’s directors and executive officers and their respective interests in ExxonMobil by security holdings or otherwise is set forth in ExxonMobil’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on February 26, 2020, ExxonMobil’s proxy statement for the 2020 Annual Meeting of Shareholders, filed with the SEC on April 9, 2020, ExxonMobil’s Form 8-K filed with the SEC on December 1, 2020 and ExxonMobil’s Form 8-K filed with the SEC on February 2, 2021. To the extent holdings of such participants in ExxonMobil’s securities are not reported, or have changed since the amounts described, in the 2020 proxy statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Details concerning the nominees of ExxonMobil’s Board of Directors for election at the 2021 Annual Meeting will be included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO AND ACCOMPANYING BLUE PROXY CARD WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders will be able to obtain a copy of the definitive Proxy Statement and other relevant documents filed by ExxonMobil free of charge from the SEC’s website, www.sec.gov. ExxonMobil’s shareholders will also be able to obtain, without charge, a copy of the definitive Proxy Statement and other relevant filed documents by directing a request by mail to ExxonMobil Shareholder Services at 5959 Las Colinas Boulevard, Irving, Texas, 75039-2298 or at shareholderrelations@exxonmobil.com or from the investor relations section of ExxonMobil’s website, www.exxonmobil.com/investor.