Washington, D.C. 20549 
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 30, 2021
Exxon Mobil Corporation
(Exact name of registrant as specified in its charter)
New Jersey1-225613-5409005
(State or other jurisdiction
of incorporation)
File Number)
(IRS Employer
Identification No.)

 5959 Las Colinas Boulevard, Irving, Texas 75039-2298
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (972) 940-6000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
  Name of Each Exchange
Title of Each ClassTrading Symbolon Which Registered
Common Stock, without par valueXOMNew York Stock Exchange
0.142% Notes due 2024XOM24BNew York Stock Exchange
0.524% Notes due 2028XOM28New York Stock Exchange
0.835% Notes due 2032XOM32New York Stock Exchange
1.408% Notes due 2039XOM39ANew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02Results of Operations and Financial Condition
Item 7.01Regulation FD Disclosure
 The following information is furnished pursuant to both Item 2.02 and Item 7.01.
The Registrant hereby furnishes the information set forth in its News Release, dated April 30, 2021, announcing first quarter 2021 results, a copy of which is included as Exhibit 99.1, and furnishes the information in the related 1Q21 Investor Relations Data Summary, a copy of which is included as Exhibit 99.2. Material available by hyperlink from the News Release is not deemed to be furnished herewith or included in this filing.


Exhibit No.Description
Exxon Mobil Corporation News Release, dated April 30, 2021, announcing first quarter 2021 results.
1Q21 Investor Relations Data Summary.
104Cover Page Interactive Data File (formatted as Inline XBRL).

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 30, 2021
By:/s/ LEN M. FOX
  Len M. Fox
  Vice President and Controller
  (Principal Accounting Officer)

News Release
Exxon Mobil Corporation
5959 Las Colinas Boulevard
Irving, TX 75039
972 940 6007 Telephone
972 940 6143 Facsimile
FRIDAY, APRIL 30, 2021

ExxonMobil Earns $2.7 Billion in First Quarter 2021

First Quarter 2021 Results and Management Perspectives
Cash flow from operating activities of $9.3 billion fully funded dividend and capital expenditures, and drove debt reduction of over $4 billion
Lowered cash operating expenses versus the first and fourth quarters of 2020; on pace to deliver additional structural cost savings
Advanced several initiatives to reduce emissions and launched Low Carbon Solutions business to commercialize extensive low-carbon technology portfolio
Added three new directors to strengthen board experience in energy, capital allocation and complex business transitions

Results Summary   
(Dollars in millions, except per share data)  
Earnings/(Loss) (U.S. GAAP)2,730 (610)(20,070)
Earnings/(Loss) Per Common Share   
Assuming Dilution0.64 (0.14)(4.70)
Identified Items Per Common Share   
Assuming Dilution(0.01)(0.67)(4.73)
Earnings/(Loss) Excluding Identified Items   
Per Common Share Assuming Dilution0.65 0.53 0.03 
Capital and Exploration Expenditures3,133 7,143 4,771 

IRVING, Texas – April 30, 2021 – Exxon Mobil Corporation today announced estimated first quarter 2021 earnings of $2.7 billion, or $0.64 per share assuming dilution, compared with a loss of $610 million in the first quarter of 2020. Results included unfavorable identified items of $31 million, or $0.01 per share assuming dilution. First quarter capital and exploration expenditures were $3.1 billion, $4 billion lower than the first quarter of 2020.

Oil-equivalent production was 3.8 million barrels per day, up 3 percent from the fourth quarter of 2020. Excluding entitlement effects, government mandates and divestments, oil-equivalent production was up 2 percent.

“The strong first quarter results reflect the benefits of higher commodity prices and our focus on structural cost reductions, while prioritizing investments in assets with a low cost of supply,” said Darren Woods, chairman and chief executive officer. “Cash flow from operating activities during the quarter fully covered the dividend and capital investments, and we strengthened the balance sheet by reducing debt. We also made progress on our energy transition strategy by launching our new ExxonMobil Low Carbon Solutions business, which is initially working to develop innovative, large-scale carbon capture and storage (CCS) concepts, including the evaluation and advancement of more than 20 new opportunities, such as a multi-industry hub to reduce emissions from hard-to-decarbonize industries near the Houston Ship Channel. As the global leader in carbon capture, we are seeing growing public and private sector support for CCS as a critical enabling technology to reduce emissions and help meet society's net-zero ambitions.”

During severe winter weather in Texas in February, ExxonMobil cogeneration facilities generated 400 megawatts of electricity, helping to power about 200,000 homes. The severe weather event reduced first quarter earnings by nearly $600 million across all businesses from decreased production and lower sales volumes, repair costs, and the net impact of energy purchases and sales. All affected facilities have resumed normal operations.
First Quarter 2021 Results and Business Highlights

Average realizations for crude oil increased 42 percent from the fourth quarter. Natural gas realizations rose by 33 percent in the quarter.
Total production volumes increased 98,000 oil-equivalent barrels per day from the fourth quarter. Excluding entitlement effects, government mandates and divestments, liquids volumes were down 3 percent including impacts from higher maintenance and the winter storm. Natural gas volumes increased 12 percent driven by higher seasonal demand in Europe.
During the quarter, production volumes in the Permian averaged 394,000 oil-equivalent barrels per day, an increase of 12 percent from the prior year. The focus remains on continuing to grow positive free cash flow by lowering overall development costs and increasing recovery through efficiency gains and technology applications.
Industry fuels margins improved from the fourth quarter, but remained below 10-year-lows driven by market oversupply and high product inventory levels. Lubricants delivered strong performance, underpinned by lower costs and improved margins.
Despite winter storm disruptions, overall refining throughput was essentially flat with the fourth quarter as the company managed refinery operations in line with fuel demand and integrated chemical manufacturing needs.
Industry margins improved further in the quarter reflecting continued strong demand, global shipping constraints, and ongoing supply disruptions, particularly in North America, where the polyethylene and polypropylene markets were affected by severe winter weather in Texas.
Strong first quarter Chemical earnings performance of $1.4 billion was supported by robust base operations capturing high margins and continued delivery of cost efficiencies.
ExxonMobil announced it is pursuing three new advanced recycling initiatives in the U.S. and Europe that further advance our commitment to sustainability and capture value from plastic waste at scale. The company plans to begin marketing certified circular plastics products later this year.

Strengthening the Portfolio
ExxonMobil signed an agreement valued at more than $1 billion for the sale of most of its non-operated upstream assets in the United Kingdom central and northern North Sea. The sale price, subject to closing adjustments, has potential additional upside of up to $300 million based on contingent payments associated with future commodity price increases. The transaction is expected to close near mid-year 2021, subject to regulatory and third-party approvals.
The company is progressing plans to convert both its Altona, Australia refinery, and Slagen refinery in Norway to fuel import terminals, ensuring ongoing, reliable fuel supply for their respective local markets. Final decisions were made following local consultation processes with employees and their representatives as part of extensive reviews of the long-term economic viability of both facilities.

Capital Allocation and Structural Cost Improvement
The company's long-term capital allocation priorities remain investing in advantaged projects to drive cash flow, strengthening the balance sheet and maintaining a reliable dividend.
ExxonMobil’s 2021 capital program remains at $16 billion to $19 billion. If market conditions continue above the company's planning basis, additional cash will be used to accelerate deleveraging.
In addition to $3 billion in structural cost reductions already achieved in 2020, the company is on pace to achieve $3 billion of further structural efficiencies through 2023 for a total of $6 billion relative to 2019. Efforts to identify additional structural savings resulting from the reorganizations completed in 2019 are continuing.
Reducing Emissions and Advancing Low Carbon Solutions
The company announced the creation of ExxonMobil Low Carbon Solutions, a new business to commercialize its extensive low-carbon technology portfolio, with an initial focus on carbon capture and storage (CCS), the process of sequestering industrial emissions and safely storing them permanently underground. CCS is considered one of the critical technologies required to achieve society’s net-zero ambitions and the climate goals outlined in the Paris Agreement.
In April, ExxonMobil introduced the innovative concept of a multi-industry CCS hub along the Houston Ship Channel and surrounding industrial areas to capture CO2 emissions from area industry, including petrochemical, manufacturing and power generation facilities. The concept would require large-scale collaboration and policy advancements among governments, private industry, and local communities.
ExxonMobil became the first company to file an application with the U.S. Environmental Protection Agency (EPA) to use new aerial technologies to detect methane emissions at oil and natural gas sites.
ExxonMobil and Porsche are testing advanced biofuels and renewable, lower-carbon eFuels, as part of a new agreement to find pathways toward potential future consumer adoption of fuels that could significantly reduce emissions.
Ongoing Board Refreshment
During the quarter, ExxonMobil announced the elections of Michael Angelakis, Jeffrey Ubben, and Wan Zulkiflee to its board of directors. With the addition of the new members, the ExxonMobil board increased to 13 directors, 12 of whom are independent. The company has added six new independent directors since 2017 with specific experience in the areas of climate science, asset and risk management, capital allocation, energy and business transition, investor perspectives, and additional energy industry experience.

Results and Volume Summary
Millions of Dollars1Q1Q  
(unless noted)20212020ChangeComments
U.S.363(704)+1,067Winter storm impact more than offset by higher prices and reduced expenses; prior quarter unfavorable identified items (impairment +315, inventory valuation +45)
Non-U.S.2,1911,240+951Higher prices and reduced expenses, partly offset by lower volumes and unfavorable foreign exchange; prior quarter unfavorable identified items (inventory valuation +218, impairment +41)
Total2,554536+2,018Winter storm -240, prices +1,690, volume -320, expenses +430, identified items +620, other -160
Production (koebd)3,7874,046-259Liquids -222 kbd: government mandates, lower entitlements, and winter storm impact (-25)
Gas -223 mcfd: decline, higher downtime/maintenance, winter storm impact (-105), and Groningen production limit, partly offset by higher demand and project growth
U.S.(113)(101)-12Winter storm impact and lower margins driven by weaker industry refining conditions, partly offset by reduced expenses and favorable other impacts; prior quarter unfavorable identified items (+411, mainly inventory valuation)
Non-U.S.(277)(510)+233Lower margins including net unfavorable mark to market impact on unsettled derivatives, net unfavorable one-time items, and unfavorable foreign exchange, partly offset by reduced expenses; prior quarter unfavorable identified items (inventory valuation +1,196, impairments +335)
Total(390)(611)+221Winter storm -130, margins -1,880, expenses +410, identified items +1,940, forex/other -120
Petroleum Product Sales (kbd)4,8815,287-406
U.S.715288+427Winter storm impact more than offset by higher margins, stronger demand, and reduced expenses; prior quarter unfavorable identified item (+90, impairment)
Non-U.S.700(144)+844Higher margins, stronger demand, reduced expenses, and favorable foreign exchange; prior quarter unfavorable identified items (+232, mainly inventory valuation)
Total1,415144+1,271Winter storm -230, margins +740, demand +130, expenses +240, identified items +320, forex/other +70
Prime Product Sales (kt)6,4466,237+209
Corporate and financing(849)(679)-170Higher retirement-related expenses

Results and Volume Summary
Millions of Dollars1Q4Q  
(unless noted)20212020ChangeComments
U.S.363(16,803)+17,166Higher prices and reduced expenses, partly offset by winter storm impact and lower volumes; prior quarter unfavorable identified item (impairment +16,777)
Non-U.S.2,191(1,729)+3,920Higher prices and seasonal gas volumes; prior quarter unfavorable identified items (impairment +2,203, tax item +297)
Total2,554(18,532)+21,086Winter storm -240, prices +2,070, volume -80, expenses +170, identified items +19,280, other -110
Production (koebd)3,7873,689+98Liquids -67 kbd: lower entitlements, winter storm impact (-25), and increased downtime/maintenance, partly offset by reduced government mandates

Gas +988 mcfd: higher seasonal demand, reduced downtime/maintenance, and net growth, partly offset by winter storm impact (-105)
U.S.(113)(514)+401Higher margins on improved industry refining conditions, reduced expenses, and prior quarter unfavorable LIFO inventory impact (+78), partly offset by winter storm impact, lower manufacturing volumes, and net unfavorable one-time items
Non-U.S.(277)(697)+420Reduced expenses and higher margins driven by more favorable industry refining conditions, offset by prior quarter favorable LIFO inventory impact (-207), unfavorable foreign exchange, terminal conversion costs, and lower demand; prior quarter unfavorable identified items (impairment +258, tax item +262)
Total(390)(1,211)+821Winter storm -130, margins +490, demand -40, expenses +380, manufacturing -40, identified items +520, LIFO/forex -210, other -150
Petroleum Product Sales (kbd)4,8814,833+48
U.S.715461+254Winter storm more than offset by stronger margins, demand, and reduced expenses
Higher margins, reduced expenses, and prior quarter unfavorable LIFO inventory impact (+84) and other charges
Total1,415691+724Winter storm -230, margins +500, demand +100, expenses +150, identified items +20, LIFO/other +180
Prime Product Sales (kt)6,4466,643-197
Corporate and financing(849)(1,018)+169Absence of identified items (mainly severance +330), partly offset by net unfavorable tax impacts and retirement-related expenses

 Cash Flow from Operations and Asset Sales excluding Working Capital
 Millions of Dollars1Q 
 Net income (loss) including noncontrolling interests2,796Including $66 million noncontrolling interests
 Depreciation and depletion5,004
 Changes in operational working capital1,953Higher net payables and inventory draw
 Cash Flow from Operating9,264 
 Activities (U.S. GAAP)  
 Asset sales307Including U.K. upstream divestment deposit and U.S. upstream asset sales
 Cash Flow from Operations9,571 
 and Asset Sales  
 Changes in operational working capital(1,953) 
 Cash Flow from Operations7,618 
 and Asset Sales excluding Working Capital  


ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on April 30, 2021. To listen to the event or access an archived replay, please visit www.exxonmobil.com.

Cautionary Statement

Outlooks, projections, goals, targets, descriptions of strategic plans and objectives, and other statements of future events or conditions in this release are forward-looking statements. Actual future results, including financial and operating performance; planned capital and cash operating expense reductions and ability to meet or exceed announced reduction objectives; plans to reduce future emissions intensity and the expected resulting absolute emission reductions; progressing carbon capture projects and results; total capital expenditures and mix; cash flow, dividend and shareholder returns; business and project plans, timing, costs and capacities; resource recoveries and production rates; and accounting and financial reporting effects resulting from market developments and ExxonMobil’s responsive actions, could differ materially due to a number of factors. These include the continuity of our board of directors and their strategic oversight; global or regional changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market conditions that impact prices and differentials; the impact of company actions to protect the health and safety of employees, vendors, customers, and communities; actions of competitors and commercial counterparties; the ability to access short- and long-term debt markets on a timely and affordable basis; the severity, length and ultimate impact of COVID-19 and government responses on people and economies; reservoir performance; the outcome of exploration projects and timely completion of development and construction projects; changes in law, taxes, or regulation including environmental regulations, and timely granting of governmental permits; government policies and support for low carbon technologies like carbon capture; war, trade agreements and patterns, shipping blockades or harassment, and other political or security disturbances; opportunities for and regulatory approval of potential investments or divestments; the actions of competitors; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies while maintaining future competitive positioning; unforeseen technical or operating difficulties; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs; the ability to bring new technologies to commercial scale on a cost-competitive basis; general economic conditions including the occurrence and duration of economic recessions; and other factors discussed under Item 1A. Risk Factors of ExxonMobil’s 2020 Form 10-K.

Frequently Used Terms and Non-GAAP Measures

This press release includes cash flow from operations and asset sales. Because of the regular nature of our asset management and divestment program, we believe it is useful for investors to consider proceeds associated with the sales of subsidiaries, property, plant and equipment, and sales and returns of investments together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities. A reconciliation to net cash provided by operating activities for first quarter 2021 is shown on page 6 and for 2021 and 2020 periods in Attachment V.

This press release also includes cash flow from operations and asset sales excluding working capital. We believe it is useful for investors to consider these numbers in comparing the underlying performance of our business across periods when there are significant period-to-period differences in the amount of changes in working capital. A reconciliation to net cash provided by operating activities for first quarter 2021 is shown on page 6 and for 2021 and 2020 periods in Attachment V.

This press release also includes earnings/(loss) excluding identified items, which are earnings/(loss) excluding individually significant non-operational events with an absolute corporate total earnings impact of at least $250 million in a given quarter. The earnings/(loss) impact of an identified item for an individual segment may be less than $250 million when the item impacts several periods or several segments. We believe it is useful for investors to consider these figures in comparing the underlying performance of our business across periods when one, or both, periods include identified items. A reconciliation to earnings is shown for 2021 and 2020 periods in Attachments II-a and II-b. Corresponding per share amounts are shown on page 1 and in Attachment II-a, including a reconciliation to earnings/(loss) per common share – assuming dilution (U.S. GAAP).

This press release also includes total taxes including sales-based taxes. This is a broader indicator of the total tax burden on the corporation’s products and earnings, including certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities (“sales-based taxes”). It combines “Income taxes” and “Total other taxes and duties” with sales‑based taxes, which are reported net in the income statement. We believe it is useful for the corporation and its investors

to understand the total tax burden imposed on the corporation’s products and earnings. A reconciliation to total taxes is shown as part of the Estimated Key Financial and Operating Data in Attachment I.

References to the resource base and other quantities of oil, natural gas or condensate may include estimated amounts that are not yet classified as “proved reserves” under SEC definitions, but which are expected to be ultimately recoverable. The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Further information on ExxonMobil’s frequently used financial and operating measures and other terms including "Cash operating expenses", “Cash flow from operations and asset sales”, and “Total taxes including sales-based taxes” is contained under the heading “Frequently Used Terms” available through the “Investors” section of our website at www.exxonmobil.com.

Reference to Earnings

References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. Unless otherwise indicated, references to earnings, Upstream, Downstream, Chemical and Corporate and financing segment earnings, and earnings per share are ExxonMobil’s share after excluding amounts attributable to noncontrolling interests.

Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Similarly, 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, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships.


Important Additional Information Regarding Proxy Solicitation

Exxon Mobil Corporation (“ExxonMobil”) has filed a definitive proxy statement and form of associated BLUE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) 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 the Proxy Statement. To the extent holdings of such participants in ExxonMobil’s securities are not reported, or have changed since the amounts described, in the 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 are 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, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and shareholders can obtain a copy of the Proxy Statement and other relevant documents filed by ExxonMobil free of charge from the SEC’s website, www.sec.gov. ExxonMobil’s shareholders can also obtain, without charge, a copy of the 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.

Estimated Key Financial and Operating Data
Attachment I
Exxon Mobil Corporation
First Quarter 2021
(millions of dollars, unless noted)
Earnings (Loss) / Earnings (Loss) Per Share   
Total revenues and other income59,147 56,158 46,540 
Total costs and other deductions55,555 56,416 73,153 
Income (loss) before income taxes3,592 (258)(26,613)
Income taxes796 512 (6,010)
Net income (loss) including noncontrolling interests2,796 (770)(20,603)
Net income (loss) attributable to noncontrolling interests66 (160)(533)
Net income (loss) attributable to ExxonMobil (U.S. GAAP)2,730 (610)(20,070)
Earnings (loss) per common share (dollars)0.64 (0.14)(4.70)
Earnings (loss) per common share   
- assuming dilution (dollars)0.64 (0.14)(4.70)
Exploration expenses, including dry holes164 288 595 
Other Financial Data   
Dividends on common stock     
Total3,720 3,719 3,715 
Per common share (dollars)0.87 0.87 0.87 
Millions of common shares outstanding   
At period end4,234 4,228 4,233 
Average - assuming dilution4,272 4,270 4,272 
ExxonMobil share of equity at period end156,974 182,079 157,150 
ExxonMobil share of capital employed at period end222,610 244,026 227,137 
Income taxes796 512 (6,010)
Total other taxes and duties7,283 7,497 7,344 
Total taxes8,079 8,009 1,334 
Sales-based taxes4,662 4,485 4,364 
Total taxes including sales-based taxes12,741 12,494 5,698 
ExxonMobil share of income taxes of   
equity companies600 460 285 


Attachment II-a
Exxon Mobil Corporation
First Quarter 2021
$ MillionsQuarterQuarterQuarter
Earnings/(Loss) (U.S. GAAP)2,730 (610)(20,070)
Identified Items Included in Earnings/(Loss)  
Noncash inventory valuation - lower of cost or market (2,096)— 
Impairments (787)(19,273)
Tax — (581)
Other items (severance - global workforce review)(31)— (326)
Corporate total(31)(2,883)(20,180)
Earnings Excluding Identified Items2,761 2,273 110 
$ Per Common Share1
Earnings/(Loss) Per Common Share  
Assuming Dilution (U.S. GAAP)0.64 (0.14)(4.70)
Identified Items Included in Earnings/(Loss) Per Common Share  
Assuming Dilution  
Noncash inventory valuation - lower of cost or market (0.49)— 
Impairments (0.18)(4.51)
Tax — (0.14)
Other items (severance - global workforce review)(0.01)— (0.08)
Corporate total(0.01)(0.67)(4.73)
Earnings Excluding Identified Items Per Common Share  
Assuming Dilution0.65 0.53 0.03 
¹ Computed using the average number of shares outstanding during each period.

Attachment II-b
Exxon Mobil Corporation
First Quarter 2021
(millions of dollars)
Earnings/(Loss) (U.S. GAAP)   
United States363 (704)(16,803)
Non-U.S.2,191 1,240 (1,729)
United States(113)(101)(514)
United States715 288 461 
Non-U.S.700 (144)230 
Corporate and financing(849)(679)(1,018)
Net income (loss) attributable to ExxonMobil2,730 (610)(20,070)
Identified Items Included in Earnings/(Loss)   
U.S. Upstream   
Impairments (315)(16,777)
Other items (Inventory valuation) (45)— 
Non-U.S. Upstream   
Impairments (41)(2,203)
Tax Items — (297)
Other Items (Inventory valuation) (218)— 
U.S. Downstream   
Other Items (Inventory valuation, Impairment) (411)— 
Non-U.S. Downstream   
Impairments (335)(258)
Tax Items — (262)
Other Items (Inventory valuation) (1,196)— 
U.S. Chemical   
Impairment (90)— 
Non-U.S. Chemical   
Tax Items — (22)
Other Items (Inventory valuation, Impairment) (232)— 
Corporate and financing   
Other Items (Severance - global workforce review, Impairment)(31)— (361)
Corporate total(31)(2,883)(20,180)
Earnings/(Loss) Excluding Identified Items   
United States363 (344)(26)
Non-U.S.2,191 1,499 771 
United States(113)310 (514)
Non-U.S.(277)1,021 (177)
United States715 378 461 
Non-U.S.700 88 252 
Corporate and financing(818)(679)(657)
Corporate total2,761 2,273 110 

Attachment III
Exxon Mobil Corporation
First Quarter 2021
Net production of crude oil, natural gas   
liquids, bitumen and synthetic oil,   
thousand barrels per day (kbd)   
United States665 699 719 
Canada / Other Americas575 558 619 
Europe35 30 32 
Africa253 360 258 
Asia691 795 658 
Australia / Oceania39 38 39 
Worldwide2,258 2,480 2,325 
Natural gas production available for sale,   
million cubic feet per day (mcfd)   
United States2,767 2,825 2,686 
Canada / Other Americas216 317 253 
Europe1,403 1,293 848 
Africa24 12 
Asia3,599 3,710 3,225 
Australia / Oceania1,164 1,244 1,161 
Worldwide9,173 9,396 8,185 
Oil-equivalent production (koebd)1
3,787 4,046 3,689 
¹ Natural gas converted to an oil-equivalent basis at 6 million cubic feet per 1 thousand barrels.

Attachment IV
Exxon Mobil Corporation
First Quarter 2021
Refinery throughput (kbd)   
United States1,532 1,558 1,594 
Canada364 383 359 
Europe1,153 1,295 1,130 
Asia Pacific545 637 522 
Other157 187 150 
Worldwide3,751 4,060 3,755 
Petroleum product sales (kbd)   
United States2,077 2,231 2,128 
Canada409 456 415 
Europe1,272 1,403 1,227 
Asia Pacific665 708 645 
Other458 489 418 
Worldwide4,881 5,287 4,833 
Gasolines, naphthas1,996 2,122 2,039 
Heating oils, kerosene, diesel1,692 1,867 1,739 
Aviation fuels183 383 172 
Heavy fuels257 256 237 
Specialty products753 659 646 
Worldwide4,881 5,287 4,833 
Chemical prime product sales,   
thousand metric tons (kt)   
United States2,190 2,195 2,467 
Non-U.S.4,256 4,042 4,176 
Worldwide6,446 6,237 6,643 

Attachment V
Exxon Mobil Corporation
First Quarter 2021
(millions of dollars)
Capital and Exploration Expenditures   
United States810 2,798 1,122 
Non-U.S.1,547 2,328 1,812 
Total2,357 5,126 2,934 
United States271 747 488 
Non-U.S.199 487 674 
Total470 1,234 1,162 
United States208 597 435 
Non-U.S.98 185 240 
Total306 782 675 
Other — 
Worldwide3,133 7,143 4,771 
Cash Flow from Operations and Asset Sales excluding Working Capital 
Net cash provided by operating activities   
(U.S. GAAP)9,2646,274 4,005
Proceeds associated with asset sales30786 770
Cash flow from operations and asset sales9,5716,360 4,775
Changes in operational working capital(1,953)942 114
Cash flow from operations and asset sales7,6187,302 4,889
excluding working capital   

Attachment VI
Exxon Mobil Corporation
 $ Millions
$ Per Common Share1
First Quarter4,010 0.95
Second Quarter3,350 0.78
Third Quarter3,970 0.93
Fourth Quarter8,380 1.97
Year19,710 4.63
First Quarter4,650 1.09
Second Quarter3,950 0.92
Third Quarter6,240 1.46
Fourth Quarter6,000 1.41
Year20,840 4.88
First Quarter2,350 0.55
Second Quarter3,130 0.73
Third Quarter3,170 0.75
Fourth Quarter5,690 1.33
Year14,340 3.36
First Quarter(610)(0.14)
Second Quarter(1,080)(0.26)
Third Quarter(680)(0.15)
Fourth Quarter(20,070)(4.70)
First Quarter2,730 0.64

1 Computed using the average number of shares outstanding during each period.

To assist investors in assessing 1Q21 results, the following disclosures have been made available in this 8-K filing:
Identified items of $(0.01) per share assuming dilution, as noted on page 1 of the news release
-A reconciliation of cash flow from operations and asset sales excluding working capital on page 1 of this exhibit and on page 6 and attachment V of the news release
Earnings (Loss), $M1Q214Q203Q202Q201Q20
 United States363(16,803)(681)(1,197)(704)
 United States(113)(514)(136)(101)(101)
 United States715461357171288
Corporate and financing(849)(1,018)(727)(872)(679)
Net income (loss) attributable to ExxonMobil (U.S. GAAP)2,730(20,070)(680)(1,080)(610)
Earnings (Loss) per common share (U.S. GAAP)  0.64(4.70)(0.15)(0.26)(0.14)
Earnings (Loss) per common share
- assuming dilution (U.S. GAAP)0.64(4.70)(0.15)(0.26)(0.14)
Exploration expenses, including dry holes164595188214288
Capital and Exploration Expenditures, $M     
 United States8101,1221,2601,6372,798
 United States271488390719747
 United States208435407563597
Total Capital and Exploration Expenditures3,1334,7714,1335,3277,143
Effective Income Tax Rate, %33%22%(198)%29%481%
Common Shares Outstanding, millions     
 At quarter end4,2344,2334,2284,2284,228
 Average - assuming dilution4,2724,2724,2714,2714,270
Total Cash and Cash Equivalents, $B3.54.48.812.611.4
Total Debt, $B63.367.668.869.559.6
Cash Flow from Operations and Asset Sales, $M     
 Net cash provided by operating activities9,2644,0054,3896,274
 Proceeds associated with asset sales3077701004386
 Cash flow from operations and asset sales9,5714,7754,489436,360
 Changes in operational working capital(1,953)114(863)1,460942
Cash flow from operations and asset sales excluding working capital

Net production of crude oil, natural gas1Q214Q203Q202Q201Q20
liquids, bitumen and synthetic oil, kbd     
 United States665719692628699
 Canada / Other Americas575619487483558
 Australia / Oceania3939494838
Total liquids production2,2582,3252,2862,3062,480
Natural gas production available for sale, mcfd     
 United States2,7672,6862,6112,6422,825
 Canada / Other Americas216253269269317
 Australia / Oceania1,1641,1611,2331,2381,244
Total natural gas production available for sale9,1738,1858,3167,9909,396
Total worldwide liquids and gas production, koebd 1
Refinery throughput, kbd     
 United States1,5321,5941,6011,4401,558
 Asia Pacific545522486568637
 Other Non-U.S.157150148145187
Total refinery throughput3,7513,7553,7593,5164,060
Petroleum product sales, kbd     
 United States2,0772,1282,2971,9592,231
 Asia Pacific665645614640708
 Other Non-U.S.458418413355489
Total petroleum product sales4,8814,8335,0234,4375,287
 Gasolines, naphthas1,9962,0392,0771,7362,122
 Heating oils, kerosene, diesel1,6921,7391,7501,6491,867
 Aviation fuels183172152147383
 Heavy fuels257237242262256
 Specialty products753646802643659
Total petroleum product sales4,8814,8335,0234,4375,287
Chemical prime product sales, kt     
 United States2,1902,4672,3631,9852,195
Total chemical prime product sales6,4466,6436,6245,9456,237

1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.

Earnings Factor Analysis, $M
1Q21 vs. 1Q20
1Q21 vs. 4Q20
Prior Period536-18,532
Winter Storm-110-110
Noncash effect of year-end reserves-270-270
Volume / Mix-370-130
Winter Storm-50-50
Winter Storm-80-80
Identified Items62019,280
Current Period2,5542,554
Prior Period-611-1,211
Volume / Mix-80-200
Winter Storm-100-100
Market Demand-40
Turnaround - Manufacturing-10-40
Other - Manufacturing (Non-turnaround)30-20
Winter Storm-30-30
Identified Items1,940520
LIFO / Other-140-340
Current Period-390-390
Prior Period144691
Winter Storm-120-120
Volume / Mix30
Winter Storm-100-100
Winter Storm-10-10
Identified Items32020
LIFO / Forex / Other70180
Current Period1,4151,415
Upstream Volume Factor Analysis, koebd  
Prior Period4,0463,689
Downtime / Maintenance-22-22
Growth / Decline-78-18
Entitlements / Divestments-69-46
Government Mandates-12462
Demand / Other34122
Current Period3,7873,787

Sources and Uses of Funds, $M1Q21    
Beginning Cash4,364    
Working Capital / Other1,530    
Proceeds Associated with Asset Sales307    
PP&E Adds / Investments and Advances1
Shareholder Distributions-3,720    
Debt / Other Financing-4,038    
Ending Cash3,515   

1 PP&E Adds / Investments and Advances includes PP&E adds of ($2.4B) and net advances of ($0.3B).
Average Realization Data1Q214Q203Q202Q201Q20
United States     
Crude ($/b)56.2039.0636.8021.7942.82
Natural Gas ($/kcf)3.362.201.621.571.69
WTI ($/b)57.8442.5640.9127.8045.97
ANS-WC ($/b)60.7644.7542.7430.0651.45
Henry Hub ($/mbtu)2.712.671.981.711.95
Crude ($/b)53.4137.8638.3020.9141.96
Natural Gas ($/kcf)6.134.853.414.075.60
European NG ($/kcf)5.874.873.252.674.68
Brent ($/b)60.9044.2243.0029.2050.26

The above numbers reflect ExxonMobil’s current estimate of volumes and realizations given data available as of the end of the first quarter of 2021. Volumes and realizations may be adjusted when full statements on joint venture operations are received from outside operators. ExxonMobil management assumes no duty to update these estimates.