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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): October 27, 2023
 
Exxon Mobil Corporation
(Exact name of registrant as specified in its charter)
 
New Jersey1-225613-5409005
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

 22777 Springwoods Village Parkway, Spring, Texas 77389-1425
(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 October 27, 2023, announcing third quarter 2023 results, a copy of which is included as Exhibit 99.1, and furnishes the information in the related 3Q23 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.



2


INDEX TO EXHIBITS
 
 
 
Exhibit No.Description
  
Exxon Mobil Corporation News Release, dated October 27, 2023, announcing third quarter 2023 results.
  
3Q23 Investor Relations Data Summary.
  
104Cover Page Interactive Data File (formatted as Inline XBRL).
  
3


SIGNATURE
 
 
 
 
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.
 
 
 
 EXXON MOBIL CORPORATION
   
   
Date: October 27, 2023
By:/s/ LEN M. FOX
  Len M. Fox
  Vice President and Controller
  (Principal Accounting Officer)
4
Document

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EXHIBIT 99.1
3Q 2023 Earnings Release
FOR IMMEDIATE RELEASE
October 27, 2023

ExxonMobil Announces Third-Quarter 2023 Results
Generated strong third-quarter earnings of $9.1 billion, or $2.25 per share, reflecting reliable operating performance of an advantaged portfolio
Produced $16.0 billion of operating cash flow and increased cash balance by $3.4 billion
Delivered the best-ever third-quarter global refinery throughput1 at 4.2 million barrels per day
Returned $8.1 billion to shareholders in the quarter and increased fourth-quarter dividend to $0.95 per share
Announced agreement to merge with Pioneer Natural Resources, a combination that will increase U.S. Permian production, enhance energy security and accelerate Pioneer's path to net zero
Results Summary
3Q232Q23
Change
vs
2Q23
3Q22
Change
vs
3Q22
Dollars in millions (except per share data)YTD 2023YTD 2022
Change
vs YTD
2022
9,070 7,880 +1,190 19,660 -10,590 Earnings (U.S. GAAP)28,380 42,990 -14,610 
9,117 7,874 +1,243 18,682 -9,565 Earnings Excluding Identified Items (non-GAAP)28,609 45,066 -16,457 
2.25 1.94 +0.31 4.68 -2.43 Earnings Per Common Share ²6.98 10.17 -3.19 
2.27 1.94 +0.33 4.45 -2.18 Earnings Excl. Identified Items Per Common Share ²7.04 10.66 -3.62 
6,022 6,166 -144 5,728 +294 Capital and Exploration Expenditures18,568 15,241 +3,327 
SPRING, Texas – October 27, 2023 – Exxon Mobil Corporation today announced third-quarter 2023 earnings of $9.1 billion, or $2.25 per share assuming dilution. Cash flow from operations was $16.0 billion, up $6.6 billion versus the second quarter. In line with plans, capital and exploration expenditures were $6.0 billion in the third quarter, bringing year-to-date 2023 expenditures to $18.6 billion. Full-year capital and exploration expenditures are expected to be at the top end of the guidance of $23 billion to $25 billion as the company pursues value accretive opportunities.

“We delivered another quarter of strong operational performance, earnings and cash flows, adding nearly 80,000 net oil-equivalent barrels per day to support global supply3,” said Darren Woods, chairman and chief executive officer. “The organization's relentless focus on safety, environment and value is paying off driving record refining throughputs, delivering big projects at first-quintile cost and schedule, and exceeding planned structural cost savings while reducing emissions intensity and the impact on the environment.

“The two transactions we've announced further underscore our ongoing commitment to the 'and' equation by continuing to meet the world's needs for energy and essential products while reducing emissions. Pioneer will help us grow supply to meet the world's energy needs with lower carbon intensity while Denbury improves our competitive position to economically reduce emissions in hard-to-decarbonize industries. Our disciplined operational and financial performance, combined with these strategic transactions, will strengthen our portfolio and position us to deliver profitable growth and attractive returns for many years to come.”

1    Highest third-quarter global refinery throughput (2000-2023) since Exxon and Mobil merger in 1999, based on current refinery circuit.
2    Assuming dilution.
3    Compared to third-quarter 2022; Excludes impacts from divestments, entitlements, and government-mandated curtailments.
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2Q23 to 3Q23 Factor Analysis
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Third-Quarter 2023 Financial Highlights
Earnings were $9.1 billion compared with second-quarter earnings of $7.9 billion. Results improved with strong operating performance, including record third-quarter refining throughput1 as well as a higher crude price and industry refining margin environment. These factors were partly offset by weaker chemical margins, unfavorable derivative mark-to-market impacts and trading timing effects that are expected to unwind over time.
The company achieved $9.0 billion of cumulative structural cost savings versus 2019, ahead of schedule, with further savings expected by year-end.
Strong earnings drove cash flow from operations of $16.0 billion and free cash flow of $11.7 billion, an increase of $6.6 billion and $6.7 billion respectively versus the second quarter. Third-quarter shareholder distributions of $8.1 billion included $3.7 billion of dividends and $4.4 billion of share repurchases. Year-to-date share repurchases were $13.1 billion, consistent with the company's plan to repurchase $17.5 billion of shares in 2023.
The Corporation declared a fourth-quarter dividend of $0.95 per share, payable on Dec. 11, 2023, to shareholders of record of Common Stock at the close of business on Nov. 15, 2023. The company has increased its annual dividend for 41 consecutive years, including this increase of $0.04 per share, or 4 percent.
The debt-to-capital ratio remained at 17% and the net-debt-to-capital ratio was 4%, reflecting a period-end cash balance of $33.0 billion.
The company continued to strengthen its portfolio with the closing of the Thailand refinery divestment in the third quarter. Total asset sales and divestments generated $0.9 billion of cash proceeds, bringing the year-to-date total to $3.1 billion.

1    Highest third-quarter global refinery throughput (2000-2023) since Exxon and Mobil merger in 1999, based on current refinery circuit.
2


ADVANCING CLIMATE SOLUTIONS

Progress Toward Net Zero
ExxonMobil has industry-leading plans to achieve net zero Scope 1 and 2 greenhouse gas emissions from its Permian unconventional operations by 2030. As part of the announced Pioneer merger, ExxonMobil plans to accelerate Pioneer’s net-zero Permian ambition to 2035 from 2050. In addition, using a combination of technology, operating capabilities, infrastructure, recycling, and water sharing, the company expects to increase the amount of water sourced from oil and gas production used in its Permian fracturing operations to more than 90% by 2030.

Carbon Capture and Storage
In July, the company entered into a definitive agreement to acquire Denbury Inc. The planned acquisition will provide ExxonMobil with one of the largest owned and operated carbon dioxide (CO2) pipeline networks in the United States. The combination will further expand ExxonMobil's ability to provide large-scale emission-reduction services to industrial customers. Denbury scheduled a shareholder vote for October 31, 2023, with the transaction expected to close in early November. The acquisition is an all-stock transaction valued at $4.9 billion, and the expected number of shares issuable in connection with the transaction is approximately 45 million.





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EARNINGS AND VOLUME SUMMARY BY SEGMENT
Upstream
3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
Earnings/(Loss) (U.S. GAAP)
1,566 920 3,110 United States4,118 9,235 
4,559 3,657 9,309 Non-U.S.13,041 19,043 
6,125 4,577 12,419 Worldwide17,159 28,278 
Earnings/(Loss) Excluding Identified Items (non-GAAP)
1,566 920 3,110 United States4,118 8,936 
4,573 3,669 8,731 Non-U.S.13,225 21,720 
6,139 4,589 11,841 Worldwide17,343 30,656 
3,688 3,608 3,716 Production (koebd)3,709 3,708 
Upstream third-quarter earnings were $6.1 billion, an increase of $1.5 billion from the second quarter, driven by higher crude prices, lower scheduled maintenance, and favorable tax impacts. Identified items unfavorably impacted earnings by $14 million in the quarter.
Compared to the same quarter last year, earnings decreased $6.3 billion. Excluding identified items, earnings declined $5.7 billion, driven by a nearly 60% decrease in natural gas realizations and a 14% decrease in crude realizations. Excluding the impacts from divestments, entitlements, and government-mandated curtailments, net production grew about 80,000 oil-equivalent barrels per day, driven by the Permian and Guyana.
Year-to-date earnings were $17.2 billion, a decrease of $11.1 billion versus the first nine months of 2022. The prior-year period was impacted by net negative identified items totaling $2.4 billion, including an identified item associated with the Sakhalin-1 expropriation. Excluding identified items, earnings declined $13.3 billion. Higher production from advantaged projects in Guyana and the Permian provided a partial offset to lower crude and natural gas realizations. Year-to-date production was 3.7 million oil-equivalent barrels per day. The portfolio mix continued to improve with liquid production growth from Guyana and the Permian, offsetting lower natural gas production from divestments.
In October, ExxonMobil announced an agreement to merge with Pioneer Natural Resources in a $59.5 billion all-stock transaction. The combination is expected to generate double-digit returns by recovering more resources, more efficiently, while accelerating emissions reductions1.










1    Expected to leverage Permian GHG reduction plans to accelerate Pioneer's net-zero emissions plan to 2035 from 2050; plan to lower both companies' Permian methane emissions through new technology application.
4


Energy Products
3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
Earnings/(Loss) (U.S. GAAP)
1,356 1,528 3,008 United States4,794 6,152 
1,086 782 2,811 Non-U.S.4,141 4,744 
2,442 2,310 5,819 Worldwide8,935 10,896 
Earnings/(Loss) Excluding Identified Items (non-GAAP)
1,356 1,528 3,008 United States4,794 6,152 
1,119 764 2,811 Non-U.S.4,186 4,744 
2,475 2,292 5,819 Worldwide8,980 10,896 
5,551 5,658 5,537 Energy Products Sales (kbd)5,496 5,321 
Energy Products third-quarter earnings were $2.4 billion, up $0.1 billion sequentially due to improved industry refining margins and strong reliability with record throughput. These factors were partly offset by negative trading-related impacts from rising prices including unfavorable derivative mark-to-market impacts and other timing effects that were largely non-cash and are expected to unwind over time.
Compared to the same quarter last year, earnings decreased $3.4 billion on weaker industry refining margins and unfavorable foreign exchange impacts. In addition, earnings were lower from trading-related impacts including negative derivative mark-to-market and other timing effects that were largely non-cash, which were impacted by rising prices in the quarter compared to declining prices in the third quarter of last year.
Year-to-date earnings were $8.9 billion, a decrease of $2.0 billion versus the same period last year. Declining industry refining margins and higher planned maintenance expenses were partly offset by higher sales volumes, mainly from the start-up of the Beaumont refinery expansion. Unfavorable derivative mark-to-market impacts were offset by favorable other timing effects, mostly of a non-cash nature.
Chemical Products
3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
Earnings/(Loss) (U.S. GAAP)
338 486 635 United States1,148 2,030 
(89)342 177 Non-U.S.300 1,263 
249 828 812 Worldwide1,448 3,293 
Earnings/(Loss) Excluding Identified Items (non-GAAP)
338 486 635 United States1,148 2,030 
(89)342 177 Non-U.S.300 1,263 
249 828 812 Worldwide1,448 3,293 
5,108 4,849 4,680 Chemical Products Sales (kt)14,606 14,509 
Chemical Products third-quarter earnings were $249 million, down from $828 million in the second quarter. Industry margins compressed from higher feedstock costs and lower price realizations as industry supply outpaced rising demand. Improved volume/mix effects from growth in performance chemicals partially offset weaker margins.
Compared to the same quarter last year, earnings decreased $563 million on weaker industry margins.
Year-to-date earnings were $1.4 billion compared to $3.3 billion in the first nine months of 2022, driven by weaker industry margins, lower sales volumes reflecting softer demand, and higher planned maintenance.
The Baytown chemical expansion project started up in the third quarter, adding 750 Kta of performance chemicals production capacity and marks the company's entry into the linear alpha olefins market.
5


Specialty Products
3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
Earnings/(Loss) (U.S. GAAP)
326 373 306 United States1,150 784 
293 298 456 Non-U.S.914 871 
619 671 762 Worldwide2,064 1,655 
Earnings/(Loss) Excluding Identified Items (non-GAAP)
326 373 306 United States1,150 784 
293 298 456 Non-U.S.914 871 
619 671 762 Worldwide2,064 1,655 
1,912 1,905 1,917 Specialty Products Sales (kt)5,758 6,024 
Specialty Products third-quarter earnings were $619 million, compared to $671 million in the second quarter, consistently delivering strong earnings from our portfolio of high-value products. Revenue management activities leveraging the company's leading brand and market position, and lower expenses were more than offset by weaker basestock margins from rising feed costs.
Compared to the same quarter last year, earnings decreased by $143 million. Improved reliability and stronger finished lubes margins were more than offset by weaker basestock margins.
Year-to-date earnings were $2.1 billion, an increase of $409 million versus the first nine months of 2022. Improved finished lubes margins from lower feed costs were partially offset by lower specialty products sales volumes due to weaker demand.


Corporate and Financing
3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
(365)(506)(152)Earnings/(Loss) (U.S. GAAP)(1,226)(1,132)
(365)(506)(552)Earnings/(Loss) Excluding Identified Items (non-GAAP)(1,226)(1,434)
Corporate and Financing third-quarter net charges of $365 million decreased $141 million versus the second quarter, driven by lower financing costs.
Compared to the same quarter last year, net charges increased $213 million. Excluding prior-year favorable identified items of $400 million related to tax and other reserve adjustments, net charges decreased $187 million from lower financing costs.
Year-to-date charges of $1.2 billion increased $94 million from last year. Excluding identified items, net charges decreased $208 million from lower financing costs.
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CASH FLOW FROM OPERATIONS AND ASSET SALES EXCLUDING WORKING CAPITAL
3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
9,346 8,153 20,198 Net income/(loss) including noncontrolling interests29,342 44,522 
4,415 4,242 5,642 Depreciation and depletion (includes impairments)12,901 18,976 
1,821 (3,583)1,667 Changes in operational working capital, excluding cash and debt(2,064)
381 571 (3,082)Other1,508 (4,328)
15,963 9,383 24,425 Cash Flow from Operating Activities (U.S. GAAP)41,687 59,176 
917 1,287 2,682 Proceeds from asset sales and returns of investments3,058 3,914 
16,880 10,670 27,107 Cash Flow from Operations and Asset Sales (non-GAAP)44,745 63,090 
(1,821)3,583 (1,667)Less: Changes in operational working capital, excluding cash and debt2,064 (6)
15,059 14,253 25,440 Cash Flow from Operations and Asset Sales excluding Working Capital
(non-GAAP)
46,809 63,084 

FREE CASH FLOW
3Q23
2Q23
3Q22
Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
15,963 9,383 24,425 Cash Flow from Operating Activities (U.S. GAAP)41,687 59,176 
(4,920)(5,359)(4,876)Additions to property, plant and equipment(15,691)(12,624)
(307)(389)(272)Additional investments and advances(1,141)(915)
31 105 88 Other investing activities including collection of advances214 238 
917 1,287 2,682 Proceeds from asset sales and returns of investments3,058 3,914 
11,684 5,027 22,047 Free Cash Flow (non-GAAP)28,127 49,789 
7




CALCULATION OF STRUCTURAL COST SAVINGS
Dollars in billions (unless otherwise noted)Twelve Months
Ended December 31,
Nine Months
Ended September 30,
2019202220222023
Components of Operating Costs
From ExxonMobil’s Consolidated Statement of Income
(U.S. GAAP)
Production and manufacturing expenses36.8 42.6 32.2 27.0 
Selling, general and administrative expenses11.4 10.1 7.3 7.3 
Depreciation and depletion (includes impairments)19.0 24.0 19.0 12.9 
Exploration expenses, including dry holes1.3 1.0 0.7 0.6 
Non-service pension and postretirement benefit expense1.2 0.5 0.4 0.5 
Subtotal69.7 78.2 59.5 48.3 
ExxonMobil’s share of equity company expenses (non-GAAP)9.1 13.0 9.0 7.4 
Total Adjusted Operating Costs (non-GAAP)78.8 91.2 68.5 55.7 
Total Adjusted Operating Costs (non-GAAP)78.8 91.2 68.5 55.7 
Less:
Depreciation and depletion (includes impairments)19.0 24.0 19.0 12.9 
Non-service pension and postretirement benefit expense1.2 0.5 0.4 0.5 
Other adjustments (includes equity company depreciation
and depletion)
3.6 3.5 2.3 2.3 
Total Cash Operating Expenses (Cash Opex) (non-GAAP)55.0 63.2 46.8 40.0 
Energy and production taxes (non-GAAP)11.0 23.8 17.7 11.0 
Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes (non-GAAP)44.0 39.4 29.1 29.0 
Change
 vs
2019
Change
vs
2022
Estimated Cumulative vs
2019
Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes (non-GAAP)-4.6-0.1
Market+2.7+0.7
Activity/Other+0.1+0.8
Structural Savings-7.4-1.6-9.0

This press release also references structural cost savings. Structural cost savings describe decreases in cash opex excluding energy and production taxes as a result of operational efficiencies, workforce reductions, and other cost-saving measures that are expected to be sustainable compared to 2019 levels. Relative to 2019, estimated cumulative structural cost savings totaled $9.0 billion, which included an additional $1.6 billion in the first nine months of 2023. The total change between periods in expenses above will reflect both structural cost savings and other changes in spend, including market factors, such as inflation and foreign exchange impacts, as well as changes in activity levels and costs associated with new operations. Estimates of cumulative annual structural savings may be revised depending on whether cost reductions realized in prior periods are determined to be sustainable compared to 2019 levels. Structural cost savings are stewarded internally to support management's oversight of spending over time. This measure is useful for investors to understand the Corporation's efforts to optimize spending through disciplined expense management.
8


ExxonMobil will discuss financial and operating results and other matters during a webcast at 7:30 a.m. Central Time on October 27, 2023. To listen to the event or access an archived replay, please visit www.exxonmobil.com.

Important Information about the Pioneer Transaction and the Denbury Transaction and Where to Find It
In connection with the proposed transaction between Exxon Mobil Corporation (“ExxonMobil”) and Pioneer Natural Resources Company (“Pioneer”) (the “Pioneer Transaction”), ExxonMobil and Pioneer will file relevant materials with the Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 filed by ExxonMobil that will include a proxy statement of Pioneer that also constitutes a prospectus of ExxonMobil. A definitive proxy statement/prospectus will be mailed to stockholders of Pioneer.

In connection with the proposed transaction between ExxonMobil and Denbury Inc. (“Denbury”) (the “Denbury Transaction”), ExxonMobil and Denbury have filed and will file relevant materials with the SEC. On August 29, 2023, ExxonMobil filed with the SEC a registration statement on Form S-4, as amended (No. 333-274252) to register the shares of ExxonMobil common stock to be issued in connection with the Denbury Transaction. The registration statement, which was declared effective by the SEC on September 29, 2023, includes a definitive proxy statement of Denbury that also constitutes a prospectus of ExxonMobil. Such definitive proxy statement/prospectus was mailed to the stockholders of Denbury on September 29, 2023.

This communication is not a substitute for the registration statement, proxy statement or prospectus or any other document that ExxonMobil, Pioneer or Denbury (as applicable) has filed or may file with the SEC in connection with the Pioneer Transaction or the Denbury Transaction (as applicable).

BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF EXXONMOBIL, PIONEER AND DENBURY ARE URGED TO READ THE APPLICABLE REGISTRATION STATEMENT, THE APPLICABLE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS (AS APPLICABLE), CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PIONEER TRANSACTION OR THE DENBURY TRANSACTION (AS APPLICABLE) AND RELATED MATTERS.

Investors and security holders may obtain free copies of the applicable registration statement and the proxy statement/prospectus (in the case of the Pioneer Transaction, when they become available), as well as other filings containing important information about ExxonMobil, Pioneer or Denbury, without charge at the SEC’s Internet website (http://www.sec.gov). Copies of the documents filed with the SEC by ExxonMobil are and will be available free of charge under the tab “SEC Filings” on the “Investors” page of ExxonMobil’s internet website at www.exxonmobil.com or by contacting ExxonMobil’s Investor Relations Department at investor.relations@exxonmobil.com. Copies of the documents filed with the SEC by Pioneer are and will be available free of charge on Pioneer’s internet website at https://investors.pxd.com/investors/financials/sec-filings/. Copies of the documents filed with the SEC by Denbury are and will be available free of charge on Denbury’s internet website at https://investors.denbury.com/investors/financial-information/sec-filings/ or by directing a request to Denbury Inc., ATTN: Investor Relations, 5851 Legacy Circle, Suite 1200, Plano, TX 75024, Tel. No. (972) 673-2000 or by contacting Denbury’s Investor Relations Department at IR@denbury.com. The information included on, or accessible through, ExxonMobil’s, Pioneer’s or Denbury’s website is not incorporated by reference into this communication.
Participants in the Solicitation
ExxonMobil, Pioneer, Denbury, their respective directors and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies in respect of the Pioneer Transaction or the Denbury Transaction (as applicable). Information about the directors and executive officers of Pioneer is set forth in its proxy statement for its 2023 annual meeting of stockholders, which was filed with the SEC on April 13, 2023, in its Form 10-K for the year ended December 31, 2022, which was filed with the SEC on February 23, 2023, in its Form 8-K filed on May 30, 2023, in its Form 8-K filed on April 26, 2023 and in its Form 8-K filed on February 13, 2023. Information about the directors and executive officers of Denbury is set forth in its proxy statement for its 2023 annual meeting of stockholders, which was filed with the SEC on April 18, 2023, and in its Form 10-K for the year ended December 31, 2022, which was filed with the SEC on February 23, 2023. Information about the directors and executive officers of ExxonMobil is set forth in its proxy statement for its 2023 annual meeting of stockholders, which was filed with the SEC on April 13, 2023, in its Form 10-K for the year ended December 31, 2022, which was filed with the SEC on February 22, 2023, in its Form 8-K filed on June 6, 2023 and in its Form 8-K filed on February 24, 2023. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, is (or, in the case of the Pioneer Transaction, will be) contained in the applicable proxy statement/prospectus and will be contained in other relevant materials filed with the SEC when they become available.
No Offer or Solicitation
This communication is for informational purposes and is not intended to, and shall not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
9


Cautionary Statement
Statements related to outlooks; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions and plans; and other statements of future events or conditions in this release, are forward-looking statements. Similarly, discussion of future carbon capture, transportation and storage, as well as biofuel, hydrogen and other plans to reduce emissions of ExxonMobil, its affiliates or companies it is seeking to acquire, are dependent on future market factors, such as continued technological progress, policy support and timely rule-making and permitting, and represent forward-looking statements. Actual future results, including financial and operating performance; total capital expenditures and mix, including allocations of capital to low carbon solutions; structural earnings improvement and structural cost reductions and efficiency gains, including the ability to offset inflationary pressure; plans to reduce future emissions and emissions intensity; ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, plans to reach net zero Scope 1 and 2 emissions in Upstream Permian Basin unconventional operated assets by 2030 and by 2035 for Pioneer assets, eliminating routine flaring in-line with World Bank Zero Routine Flaring, reaching near-zero methane emissions from its operations, meeting ExxonMobil’s emission reduction goals and plans, divestment and start-up plans, and associated project plans as well as technology efforts; timing and outcome of projects related to the capture, transportation and storage of CO2, including completion of the Denbury acquisition, and biofuel production; changes in law, taxes, or regulation including environmental and tax regulations, trade sanctions, and timely granting of governmental permits and certifications; timing and outcome of hydrogen projects; cash flow, dividends and shareholder returns, including the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs, capacities and returns; and resource recoveries and production rates, could differ materially due to a number of factors. These include global or regional changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market factors, economic conditions and seasonal fluctuations that impact prices and differentials for our products; government policies supporting lower carbon investment opportunities such as the U.S. Inflation Reduction Act or policies limiting the attractiveness of future investment such as the additional European taxes on the energy sector; variable impacts of trading activities on our margins and results each quarter; actions of competitors and commercial counterparties; the outcome of commercial negotiations, including final agreed terms and conditions; the ability to access debt markets; the ultimate impacts of public health crises, including the effects of government responses on people and economies; reservoir performance, including variability and timing factors applicable to unconventional resources; the level and outcome of exploration projects and decisions to invest in future reserves; timely completion of development and other construction projects; final management approval of future projects and any changes in the scope, terms, or costs of such projects as approved; government regulation of our growth opportunities; war, civil unrest, attacks against the company or industry and other political or security disturbances; expropriations, seizure, or capacity, insurance or shipping limitations by foreign governments or laws; opportunities for potential acquisitions, investments or divestments and satisfaction of applicable conditions to closing, including timely regulatory approvals; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies; unforeseen technical or operating difficulties and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors discussed under Item 1A. Risk Factors of ExxonMobil’s 2022 Form 10-K.
Actions needed to advance ExxonMobil’s 2030 greenhouse gas emission-reductions plans are incorporated into its medium-term business plans, which are updated annually. Actions needed to advance ExxonMobil's 2035 greenhouse gas emissions-reduction plans for Pioneer assets will be incorporated in its medium-term business plans in the normal course following closing. The reference case for planning beyond 2030 is based on the Company’s Energy Outlook research and publication. The Outlook is reflective of the existing global policy environment. The Energy Outlook does not attempt to project the degree of required future policy and technology advancement and deployment for the world, or ExxonMobil, to meet net zero by 2050. As future policies and technology advancements emerge, they will be incorporated into the Outlook, and the Company’s business plans will be updated accordingly.
Forward-looking and other statements regarding environmental and other sustainability efforts and aspirations are not an indication that these statements are material to investors or requiring disclosure in our filing with the SEC. In addition, historical, current, and forward-looking environmental and other sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future, including future rule-making. The release is provided under consistent SEC disclosure requirements and should not be misinterpreted as applying to any other disclosure standards.
Frequently Used Terms and Non-GAAP Measures
This press release includes cash flow from operations and asset sales (non-GAAP). Because of the regular nature of our asset management and divestment program, the company believes 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 the 2022 and 2023 periods is shown on page 7.
This press release also includes cash flow from operations excluding working capital (non-GAAP), and cash flow from operations and asset sales excluding working capital (non-GAAP). The company believes it is useful for investors to consider
10


these numbers in comparing the underlying performance of the company's 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 the 2022 and 2023 periods is shown on page 7.
This press release also includes earnings/(loss) excluding Identified Items (non-GAAP), which are earnings/(loss) excluding individually significant non-operational events with, typically, 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. Earnings/(loss) excluding Identified Items does include non-operational earnings events or impacts that are generally below the $250 million threshold utilized for identified items. When the effect of these events is significant in aggregate, it is indicated in analysis of period results as part of quarterly earnings press release and teleconference materials. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. The Corporation believes this view provides investors increased transparency into business results and trends and provides investors with a view of the business as seen through the eyes of management. Earnings excluding Identified Items is not meant to be viewed in isolation or as a substitute for net income/(loss) attributable to ExxonMobil as prepared in accordance with U.S. GAAP. A reconciliation to earnings is shown for 2023 and 2022 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. The company believes 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 in Attachment I-a.
This press release also references free cash flow (non-GAAP). Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities. This measure is useful when evaluating cash available for financing activities, including shareholder distributions, after investment in the business. Free cash flow is not meant to be viewed in isolation or as a substitute for net cash provided by operating activities. A reconciliation to net cash provided by operating activities for the 2022 and 2023 periods is shown on page 7.
References to resources or resource base may include 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. A reconciliation of production excluding divestments, entitlements, and government mandates to actual production is contained in the Supplement to this release included as Exhibit 99.2 to the Form 8-K filed the same day as this news release.
The term “project” as used in this news release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Projects or plans may not reflect investment decisions made by the company. Individual opportunities may advance based on a number of factors, including availability of supportive policy, technology for cost-effective abatement, and alignment with our partners and other stakeholders. The company may refer to these opportunities as projects in external disclosures at various stages throughout their progression.
Government mandates are changes to ExxonMobil’s sustainable production levels as a result of production limits or sanctions imposed by governments.
This press release also references structural cost savings, for more details see page 8.
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, Energy Products, Chemical Products, Specialty Products 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. ExxonMobil's ambitions, plans and goals do not guarantee any action or future performance by its affiliates or Exxon Mobil Corporation's responsibility for those affiliates' actions and future performance, each affiliate of which manages its own affairs.
Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up precisely to the totals indicated.
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.
ATTACHMENT I-a
CONDENSED CONSOLIDATED STATEMENT OF INCOME
(Preliminary)
Dollars in millions (unless otherwise noted)
Three Months Ended September 30,
Nine Months Ended
September 30,
2023202220232022
Revenues and other income
Sales and other operating revenue88,570 106,512 253,009 305,511 
Income from equity affiliates1,457 4,632 5,220 10,858 
Other income733 926 2,009 1,882 
Total revenues and other income90,760 112,070 260,238 318,251 
Costs and other deductions
Crude oil and product purchases53,076 60,197 146,677 178,198 
Production and manufacturing expenses8,696 11,317 26,992 32,244 
Selling, general and administrative expenses2,489 2,324 7,328 7,263 
Depreciation and depletion (includes impairments)4,415 5,642 12,901 18,976 
Exploration expenses, including dry holes338 218 612 677 
Non-service pension and postretirement benefit expense166 154 497 382 
Interest expense169 209 577 591 
Other taxes and duties7,712 6,587 22,496 21,009 
Total costs and other deductions77,061 86,648 218,080 259,340 
Income/(Loss) before income taxes13,699 25,422 42,158 58,911 
Income tax expense/(benefit)4,353 5,224 12,816 14,389 
Net income/(loss) including noncontrolling interests9,346 20,198 29,342 44,522 
Net income/(loss) attributable to noncontrolling interests276 538 962 1,532 
Net income/(loss) attributable to ExxonMobil9,070 19,660 28,380 42,990 
OTHER FINANCIAL DATA
Dollars in millions (unless otherwise noted)
Three Months Ended September 30,
Nine Months Ended
September 30,
2023202220232022
Earnings per common share (U.S. dollars)
2.25 4.68 6.98 10.17 
Earnings per common share - assuming dilution (U.S. dollars)
2.25 4.68 6.98 10.17 
Dividends on common stock
Total3,663 3,685 11,102 11,172 
Per common share (U.S. dollars)
0.91 0.88 2.73 2.64 
Millions of common shares outstanding
Average - assuming dilution4,025 4,185 4,064 4,227 
Taxes
Income taxes4,353 5,224 12,816 14,389 
Total other taxes and duties8,460 7,473 24,883 23,701 
Total taxes12,813 12,697 37,699 38,090 
Sales-based taxes6,588 6,364 18,901 19,321 
Total taxes including sales-based taxes19,401 19,061 56,600 57,411 
ExxonMobil share of income taxes of equity companies482 2,902 2,215 6,082 
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.ATTACHMENT I-b
CONDENSED CONSOLIDATED BALANCE SHEET
(Preliminary)
Dollars in millions (unless otherwise noted)
September
 30, 2023
December
31, 2022
ASSETS
Current assets
Cash and cash equivalents32,944 29,640 
Cash and cash equivalents – restricted29 25 
Notes and accounts receivable – net41,814 41,749 
Inventories
Crude oil, products and merchandise20,052 20,434 
Materials and supplies4,398 4,001 
Other current assets1,905 1,782 
Total current assets101,142 97,631 
Investments, advances and long-term receivables48,066 49,793 
Property, plant and equipment – net205,862 204,692 
Other assets, including intangibles – net17,189 16,951 
Total Assets372,259 369,067 
LIABILITIES
Current liabilities
Notes and loans payable4,743 634 
Accounts payable and accrued liabilities62,257 63,197 
Income taxes payable4,186 5,214 
Total current liabilities71,186 69,045 
Long-term debt36,510 40,559 
Postretirement benefits reserves10,174 10,045 
Deferred income tax liabilities23,912 22,874 
Long-term obligations to equity companies2,076 2,338 
Other long-term obligations20,868 21,733 
Total Liabilities164,726 166,594 
EQUITY
Common stock without par value
(9,000 million shares authorized, 8,019 million shares issued)
16,165 15,752 
Earnings reinvested450,138 432,860 
Accumulated other comprehensive income(13,088)(13,270)
Common stock held in treasury
(4,056 million shares at September 30, 2023, and 3,937 million shares at December 31, 2022)
(253,512)(240,293)
ExxonMobil share of equity199,703 195,049 
Noncontrolling interests7,830 7,424 
Total Equity207,533 202,473 
Total Liabilities and Equity372,259 369,067 
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.ATTACHMENT I-c
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Preliminary)
Dollars in millions (unless otherwise noted)
Nine Months Ended
September 30,
20232022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income/(loss) including noncontrolling interests29,342 44,522 
Depreciation and depletion (includes impairments)12,901 18,976 
Changes in operational working capital, excluding cash and debt(2,064)
All other items – net1,508 (4,328)
Net cash provided by operating activities41,687 59,176 
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment(15,691)(12,624)
Proceeds from asset sales and returns of investments3,058 3,914 
Additional investments and advances(1,141)(915)
Other investing activities including collection of advances214 238 
Net cash used in investing activities(13,560)(9,387)
CASH FLOWS FROM FINANCING ACTIVITIES
Additions to long-term debt ¹
805 55 
Reductions in long-term debt(11)— 
Reductions in short-term debt(222)(3,895)
Additions/(Reductions) in debt with three months or less maturity(283)1,638 
Contingent consideration payments(68)(58)
Cash dividends to ExxonMobil shareholders(11,102)(11,172)
Cash dividends to noncontrolling interests(511)(191)
Changes in noncontrolling interests(258)(1,074)
Common stock acquired(13,092)(10,480)
Net cash provided by (used in) financing activities(24,742)(25,177)
Effects of exchange rate changes on cash(77)(950)
Increase/(Decrease) in cash and cash equivalents3,308 23,662 
Cash and cash equivalents at beginning of period29,665 6,802 
Cash and cash equivalents at end of period32,973 30,464 
1 Includes $568 million issued to facilitate the sale of an entity where the buyer assumed the debt upon closing; no longer on the Condensed Consolidated Balance Sheet at the end of the third quarter 2023.

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.ATTACHMENT II-a
KEY FIGURES: IDENTIFIED ITEMS

3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
9,070 7,880 19,660 Earnings/(Loss) (U.S. GAAP)28,380 42,990 
Identified Items
— — (697)Impairments— (3,672)
— — 587 Gain/(Loss) on sale of assets— 886 
(47)324 Tax-related items(229)324 
— — 764 Other — 386 
(47)6 978 Total Identified Items(229)(2,076)
9,117 7,874 18,682 Earnings/(Loss) Excluding Identified Items (non-GAAP)28,609 45,066 
3Q232Q233Q22Dollars per common shareYTD 2023YTD 2022
2.25 1.94 4.68 Earnings/(Loss) Per Common Share ¹ (U.S. GAAP)6.98 10.17 
Identified Items Per Common Share ¹
— — (0.16)Impairments— (0.87)
— — 0.14 Gain/(Loss) on sale of assets— 0.21 
(0.01)0.00 0.08 Tax-related items(0.06)0.08 
— — 0.18 Other — 0.09 
(0.01)0.00 0.23 Total Identified Items Per Common Share ¹(0.06)(0.49)
2.27 1.94 4.45 Earnings/(Loss) Excl. Identified Items Per Common Share ¹ (non-GAAP)7.04 10.66 
¹ Assuming dilution.


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.ATTACHMENT II-b
KEY FIGURES: IDENTIFIED ITEMS BY SEGMENT
Third Quarter 2023UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing
Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)1,566 4,559 1,356 1,086 338 (89)326 293 (365)9,070 
Identified Items
Tax-related items— (14)— (33)— — — — — (47)
Total Identified Items (14) (33)     (47)
Earnings/(Loss) Excl. Identified Items (non-GAAP)1,566 4,573 1,356 1,119 338 (89)326 293 (365)9,117 
Second Quarter 2023
UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing
Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)920 3,657 1,528 782 486 342 373 298 (506)7,880 
Identified Items
Tax-related items— (12)— 18 — — — — — 6 
Total Identified Items (12) 18      6 
Earnings/(Loss) Excl. Identified Items (non-GAAP)920 3,669 1,528 764 486 342 373 298 (506)7,874 
Third Quarter 2022UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing
Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)3,110 9,309 3,008 2,811 635 177 306 456 (152)19,660 
Identified Items
Impairments— (697)— — — — — — — (697)
Gain/(Loss) on sale of assets— 587 — — — — — — — 587 
Tax-related items— — — — — — — — 324 324 
Other— 688 — — — — — — 76 764 
Total Identified Items 578       400 978 
Earnings/(Loss) Excl. Identified Items (non-GAAP)3,110 8,731 3,008 2,811 635 177 306 456 (552)18,682 
YTD 2023UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing
Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)4,118 13,041 4,794 4,141 1,148 300 1,150 914 (1,226)28,380 
Identified Items
Tax-related items— (184)— (45)— — — — — (229)
Total Identified Items (184) (45)     (229)
Earnings/(Loss) Excl. Identified Items (non-GAAP)4,118 13,225 4,794 4,186 1,148 300 1,150 914 (1,226)28,609 
YTD 2022UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing
Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)9,235 19,043 6,152 4,744 2,030 1,263 784 871 (1,132)42,990 
Identified Items
Impairments— (3,574)— — — — — — (98)(3,672)
Gain/(Loss) on sale of assets299 587 — — — — — — — 886 
Tax-related items— — — — — — — — 324 324 
Other— 310 — — — — — — 76 386 
Total Identified Items299 (2,677)      302 (2,076)
Earnings/(Loss) Excl. Identified Items (non-GAAP)8,936 21,720 6,152 4,744 2,030 1,263 784 871 (1,434)45,066 

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.ATTACHMENT III
KEY FIGURES: UPSTREAM VOLUMES

3Q232Q233Q22Net production of crude oil, natural gas liquids, bitumen and synthetic oil, thousand barrels per day (kbd)YTD 2023YTD 2022
756 785 783 United States787 771 
655 618 641 Canada/Other Americas648 558 
Europe
229 206 249 Africa218 243 
713 702 666 Asia721 698 
40 38 46 Australia/Oceania37 44 
2,397 2,353 2,389 Worldwide2,415 2,318 
3Q232Q233Q22Net natural gas production available for sale, million cubic feet per day (mcfd)YTD 2023YTD 2022
2,271 2,346 2,351 United States2,328 2,607 
94 97 158 Canada/Other Americas96 175 
368 375 541 Europe429 711 
129 86 70 Africa116 65 
3,528 3,350 3,304 Asia3,491 3,321 
1,358 1,275 1,539 Australia/Oceania1,303 1,460 
7,748 7,529 7,963 Worldwide7,763 8,339 
3,688 3,608 3,716 
Oil-equivalent production (koebd)¹
3,709 3,708 
1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.

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.ATTACHMENT IV
KEY FIGURES: MANUFACTURING THROUGHPUT AND SALES

3Q232Q233Q22Refinery throughput, thousand barrels per day (kbd)YTD 2023YTD 2022
1,868 1,944 1,742 United States1,819 1,705 
415 388 426 Canada407 413 
1,251 1,209 1,253 Europe1,217 1,204 
517 463 557 Asia Pacific515 542 
164 169 187 Other171 182 
4,215 4,173 4,165 Worldwide4,129 4,046 
3Q232Q233Q22Energy Products sales, thousand barrels per day (kbd)YTD 2023YTD 2022
2,626 2,743 2,479 United States2,610 2,399 
2,925 2,916 3,058 Non-U.S.2,887 2,922 
5,551 5,658 5,537 Worldwide5,496 5,321 
2,316 2,401 2,335 Gasolines, naphthas2,299 2,220 
1,834 1,842 1,818 Heating oils, kerosene, diesel1,815 1,766 
358 344 365 Aviation fuels338 335 
229 228 252 Heavy fuels224 243 
814 844 767 Other energy products820 758 
5,551 5,658 5,537 Worldwide5,496 5,321 
3Q232Q233Q22Chemical Products sales, thousand metric tons (kt)YTD 2023YTD 2022
1,750 1,725 1,658 United States5,036 5,688 
3,358 3,124 3,023 Non-U.S.9,570 8,821 
5,108 4,849 4,680 Worldwide14,606 14,509 
3Q232Q233Q22Specialty Products sales, thousand metric tons (kt)YTD 2023YTD 2022
498 514 483 United States1,489 1,594 
1,414 1,391 1,434 Non-U.S.4,268 4,430 
1,912 1,905 1,917 Worldwide5,758 6,024 

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.ATTACHMENT V
KEY FIGURES: CAPITAL AND EXPLORATION EXPENDITURES

3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
Upstream
2,241 2,206 1,837 United States6,555 4,850 
2,560 2,403 2,244 Non-U.S.7,436 6,737 
4,801 4,609 4,081 Total13,991 11,587 
Energy Products
261 349 316 United States968 1,008 
386 382 274 Non-U.S.1,095 654 
647 731 590 Total2,063 1,662 
Chemical Products
103 152 310 United States540 791 
268 507 644 Non-U.S.1,321 1,018 
371 659 954 Total1,861 1,809 
Specialty Products
16 14 15 United States41 34 
95 89 72 Non-U.S.264 132 
111 103 87 Total305 166 
Other
92 64 16 Other348 17 
6,022 6,166 5,728 Worldwide18,568 15,241 
CASH CAPITAL EXPENDITURES
3Q232Q233Q22Dollars in millions (unless otherwise noted)YTD 2023YTD 2022
4,920 5,359 4,876 Additions to property, plant and equipment15,691 12,624 
276 284 184 Net investments and advances927 677 
5,196 5,643 5,060 Total Cash Capital Expenditures16,618 13,301 


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.ATTACHMENT VI
KEY FIGURES: YEAR-TO-DATE EARNINGS/(LOSS)

Results Summary
3Q232Q23
Change
vs
2Q23
3Q22
Change
vs
3Q22
Dollars in millions (except per share data)YTD 2023YTD 2022
Change
vs YTD
2022
9,070 7,880 +1,190 19,660 -10,590 Earnings (U.S. GAAP)28,380 42,990 -14,610 
9,117 7,874 +1,243 18,682 -9,565 Earnings Excluding Identified Items (non-GAAP)28,609 45,066 -16,457 
2.25 1.94 +0.31 4.68 -2.43 Earnings Per Common Share ¹6.98 10.17 -3.19 
2.27 1.94 +0.33 4.45 -2.18 Earnings Excl. Identified Items Per Common Share ¹7.04 10.66 -3.62 
6,022 6,166 -144 5,728 +294 Capital and Exploration Expenditures18,568 15,241 +3,327 
¹ Assuming dilution.

Year-to-date Factor Analysis
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.ATTACHMENT VII
KEY FIGURES: EARNINGS/(LOSS) BY QUARTER
Dollars in millions (unless otherwise noted)
2023
2022
2021
2020
2019
First Quarter11,430 5,480 2,730 (610)2,350 
Second Quarter7,880 17,850 4,690 (1,080)3,130 
Third Quarter9,070 19,660 6,750 (680)3,170 
Fourth Quarter— 12,750 8,870 (20,070)5,690 
Full Year 55,740 23,040 (22,440)14,340 
Dollars per common share ¹
2023
2022
2021
2020
2019
First Quarter2.79 1.28 0.64 (0.14)0.55 
Second Quarter1.94 4.21 1.10 (0.26)0.73 
Third Quarter2.25 4.68 1.57 (0.15)0.75 
Fourth Quarter— 3.09 2.08 (4.70)1.33 
Full Year 13.26 5.39 (5.25)3.36 
1 Computed using the average number of shares outstanding during each period; assuming dilution.


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.EXHIBIT 99.2
To assist investors in assessing 3Q23 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 7 of the news release
3Q23 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 4)
Earnings/(Loss), $M (unless noted)3Q232Q231Q234Q223Q22
UpstreamUnited States1,566 920 1,632 2,493 3,110 
 Non-U.S.4,559 3,657 4,825 5,708 9,309 
 Total6,125 4,577 6,457 8,201 12,419 
Energy ProductsUnited States1,356 1,528 1,910 2,188 3,008 
 Non-U.S.1,086 782 2,273 1,882 2,811 
 Total2,442 2,310 4,183 4,070 5,819 
Chemical ProductsUnited States338 486 324 298 635 
Non-U.S.(89)342 47 (48)177 
Total249 828 371 250 812 
Specialty ProductsUnited States326 373 451 406 306 
 Non-U.S.293 298 323 354 456 
 Total619 671 774 760 762 
Corporate and Financing(365)(506)(355)(531)(152)
Net income attributable to ExxonMobil (U.S. GAAP)9,070 7,880 11,430 12,750 19,660 
Earnings/(Loss) per common share (U.S. GAAP)  2.25 1.94 2.79 3.09 4.68 
Earnings/(Loss) per common share - assuming dilution (U.S. GAAP)2.25 1.94 2.79 3.09 4.68 
Effective Income Tax Rate, %34 %33 %34 %36 %29 %
Capital and Exploration Expenditures, $M3Q232Q231Q234Q223Q22
UpstreamUnited States2,241 2,206 2,108 2,118 1,837 
Non-U.S.2,560 2,403 2,473 3,297 2,244 
Total4,801 4,609 4,581 5,415 4,081 
Energy ProductsUnited States261 349 358 343 316 
Non-U.S.386 382 327 405 274 
Total647 731 685 748 590 
Chemical ProductsUnited States103 152 285 332 310 
Non-U.S.268 507 546 824 644 
Total371 659 831 1,156 954 
Specialty ProductsUnited States16 14 11 12 15 
Non-U.S.95 89 80 90 72 
Total111 103 91 102 87 
Other92 64 192 42 16 
Total Capital and Exploration Expenditures6,022 6,166 6,380 7,463 5,728 
Exploration expenses, including dry holes338 133 141 348 218 
Cash Capital Expenditures, $M3Q232Q231Q234Q223Q22
Additions to property, plant and equipment4,920 5,359 5,412 5,783 4,876 
Net investments and advances276 284 367 905 184 
Total Cash Capital Expenditures5,196 5,643 5,779 6,688 5,060 
Total Cash and Cash Equivalents, $G33.0 29.6 32.7 29.7 30.5 
Total Debt, $G41.3 41.5 41.4 41.2 45.4 
Cash Flow from Operations and Asset Sales excluding working capital (non-GAAP), $M 3Q232Q231Q234Q223Q22
Net cash provided by operating activities (GAAP)15,963 9,383 16,341 17,621 24,425 
Proceeds associated with asset sales917 1,287 854 1,333 2,682 
Cash flow from operations and asset sales (non-GAAP)16,880 10,670 17,195 18,954 27,107 
Changes in operational working capital(1,821)3,583 302 200 (1,667)
Cash flow from operations and asset sales
     excluding working capital (non-GAAP)
15,059 14,253 17,497 19,154 25,440 
Common Shares Outstanding, millions3Q232Q231Q234Q223Q22
At quarter end3,963 4,003 4,043 4,082 4,118 
Weighted-average - assuming dilution4,025 4,066 4,102 4,138 4,185 



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3Q23 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 4)
Upstream Volumes3Q232Q231Q234Q223Q22
Liquids production (kbd) ¹
 United States756785820789783
 Canada/Other Americas655618670682641
 Europe44444
 Africa229206220223249
 Asia713702749725666
 Australia/Oceania4038323846
Worldwide liquids production2,3972,3532,4952,4612,389
¹ Net production of crude oil, natural gas liquids, bitumen and synthetic oil, kbd.
Natural gas production available for sale (mcfd)     
 United States2,2712,3462,3672,3832,351
 Canada/Other Americas94979474158
 Europe368375548536541
 Africa129861348970
 Asia3,5283,3503,5973,7043,304
 Australia/Oceania1,3581,2751,2761,3811,539
Worldwide natural gas production available for sale7,7487,5298,0168,1677,963
Oil-equivalent production, koebd ²
3,6883,6083,8313,8223,716
² Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.
Manufacturing Throughput and Sales3Q232Q231Q234Q223Q22
Refinery throughput, kbd     
 United States1,8681,9441,6431,6941,742
 Canada415388417433426
 Europe1,2511,2091,1891,1571,253
 Asia Pacific517463565532557
 Other164169184167187
Worldwide refinery throughput4,2154,1733,9983,9834,165
Energy Products sales, kbd     
 United States2,6262,7432,4592,5072,479
 Non-U.S.2,9252,9162,8182,9163,058
Worldwide Energy Products sales5,5515,6585,2775,4235,537
 Gasolines, naphthas2,3162,4012,1772,2702,335
 Heating oils, kerosene, diesel1,8341,8421,7701,7981,818
 Aviation fuels358344312349365
 Heavy fuels229228215210252
 Other energy products814844803796767
Worldwide Energy Products sales5,5515,6585,2775,4235,537
Chemical Products sales, kt
 United States1,7501,7251,5611,5831,658
 Non-U.S.3,3583,1243,0883,0763,023
Worldwide Chemical Products sales5,1084,8494,6494,6584,680
Specialty Products sales, kt
United States498514476455483
Non-U.S.1,4141,3911,4641,3321,434
Worldwide Specialty Products sales1,9121,9051,9401,7871,917







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3Q23 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4)
Earnings Factor Analysis, $M
3Q23 vs 3Q22