Slides
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1 3Q 2025 Earnings Call ExxonMobil October 31, 2025 Liza Development, Guyana
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Cautionary statement FORWARD-LOOKING STATEMENTS. Statements of future events, conditions, expectations, plans, future earnings power, potential addressable markets, ambitions, or results in this presentation or the subsequent discussion period are forward-looking statements. Similarly, discussions of future carbon capture, transportation, and storage, as well as lower-emission fuels, hydrogen, ammonia, lithium, direct air capture, ProxximaTM systems, carbon materials, low-carbon data centers, and other low carbon and new business plans to reduce emissions and emission intensity of ExxonMobil, its affiliates, or third parties are dependent on future market factors, such as continued technological progress, stable policy support, and timely rulemaking and permitting, and represent forward-looking statements. Actual future results, including financial and operating performance; potential earnings, cash flow, dividends or shareholder returns, including the timing and amount of share repurchases; total cash capital expenditures and mix, including allocations of capital to low carbon and other new investments; realization and maintenance of structural cost reductions and efficiency gains, including the ability to offset inflationary pressures; plans to reduce future emissions and emissions intensity; ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, to reach Scope 1 and 2 net zero in heritage Permian Basin unconventional operated assets by 2030 and Pioneer Permian assets by 2035, to eliminate routine flaring in-line with World Bank Zero Routine Flaring, to reach near-zero methane emissions from operated assets and other methane initiatives, and to meet ExxonMobil’s emission reduction plans and goals, divestment and start-up plans, and associated project plans as well as technology advances, including in the timing and outcome of projects to capture and store CO2, produce hydrogen and ammonia, produce lower-emission fuels, produce lithium, produce ProxximaTM systems, create new advanced carbon materials, and use plastic waste as feedstock for advanced recycling; maintenance and turnaround activity; drilling and improvement programs; price and margin recovery; planned Pioneer or Denbury integration benefits; resource recoveries and production rates; and product sales levels and mix could differ materially due to a number of factors. These include global or regional changes or imbalances in oil, gas, petrochemicals, or feedstock prices, differentials, seasonal fluctuations, or other market or economic conditions affecting the oil, gas, and petrochemical industries and the demand for our products; new or changing government policies supporting lower carbon and new market investment opportunities or policies limiting the attractiveness of investments such as European taxes on energy and unequal support for different methods of emissions reduction; consumer preferences including for emission-reduction products and technology; uncertain impacts of deregulation on the legal and regulatory environment; changes in interest and exchange rates; variable impacts of trading activities; the outcome of competitive bidding and project awards; regulatory actions in any part of the world targeting public companies in the oil and gas industry; developments or changes in local, national, or international laws, regulations, and policies affecting our business, including extraterritorial environmental and tax regulations, trade tariffs, and trade sanctions; adoption of regulatory incentives consistent with law; the ability to realize efficiencies within and across our business lines and to maintain current cost reductions as efficiencies without impairing our competitive positioning; decisions to invest in future reserves; reservoir performance, including variability and timing factors applicable to unconventional projects and the success of new unconventional technologies, and the ability of new technologies to improve recovery relative to competitors; the level, outcome, and timing of exploration and development projects and decisions to invest in future resources; timely completion of construction projects, and commencement of start-up operations, including reliance on third-party suppliers and service providers; war, civil unrest, attacks against the company or industry, realignment of global trade and supply chain networks, and other political or security disturbances; expropriations, seizures, and capacity, insurance, export, import, or shipping limitations by foreign governments or international embargoes; opportunities for and regulatory approval of investments or divestments; the outcome of other energy companies’ research efforts and the ability to bring new technology to commercial scale on a cost-competitive basis; the development and competitiveness of alternative energy and emission reduction technologies; unforeseen technical or operating difficulties, including the need for unplanned maintenance; and other factors discussed here and in Item 1A. Risk Factors of our Form 10-K and also under the sub-heading “Factors Affecting Future Results” found in the Earnings section of the Investors page of our website at www.exxonmobil.com. All forward-looking statements are based on management’s knowledge and reasonable expectations at the time of this presentation, and we assume no duty to update these statements as of any future date. Neither future distribution of this material nor the continued availability of this material in archive form on our website should be deemed to constitute an update or re-affirmation of these figures as of any future date. Any future update of these figures will be provided only through a public disclosure indicating that fact. Reconciliations and definitions of factors, non-GAAP, and other terms are provided in the text or in the supplemental information accompanying these pages beginning on page 26. 2
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3 Leading performance underpinned by unmatched competitive advantages 3See supplemental information for footnotes and definitions. GAAP earnings of $7.5B driven by advantaged portfolio, execution excellence, and unrivaled cost discipline >$9B of shareholder distributions; industry- leading balance sheet capacity 1 Delivering on key projects: 8 of 10 key 2025 projects successfully started up, remaining 2 on track Strategic investments aimed at maximizing long-term value: Superior Graphite acquisition, Permian acreage acquisitions, and next- generation supercomputer Cold Lake, Canada
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4 2024 YTD 2025 YTD YTD Avg. 2030 Plan 2024 2025 YTD 2030 Plan On track to 2030 plan: Technology and execution excellence create unique value Upstream Product Solutions Company -wide Advantaged assets underpin improved unit profitability Advantaged projects drive high-value product growth Fundamentally transforming company’s cost base See supplemental information for footnotes, definitions, and reconciliations. Upstream Energy Products Chemical Products Specialty Products >$6 B Additional structural cost savings vs. YE’24 >$18B 2024 2025 YTD 2030 Plan >60% >50% ~5.4 4.3 BaseAdvantaged assets $12.1B >$18 B structural cost savings by 2030 vs. 2019 Increasing Upstream unit earnings ex. identified items Constant price basis3 2019 2025 YTD 2030 Plan $/oeb ~$5 >$11 ~$13 Upstream production (Moebd)1 4.7 >50% ~$4.5B $1.4B 10.5 Mt ~18.8 Mt $1.6B 11.1 Mt $14.3B Earnings contributions from advantaged projects 2 High-value product sales volume >40% of earnings potential by 2030 driven by high-value products 4
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5 ~3 x number of mega-projects vs. other IOCs 1 10-20 % lower project costs vs. industry average 2 >20 % faster project delivery vs. industry average 2 Delivering projects at a pace and scale that no one can match Global Projects Centralized project design and delivery for all value chains Upstream Product Solutions Low Carbon Solutions Map shows projects with over $5 billion capital cost and start-up or FID from 2019 to 2028. See supplemental information for footnotes and definitions. China Chemicals Complex Guyana Yellowtail Development Singapore Resid Upgrade
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6 Cash flow from operations $14.8 B Cash capex $8.6B Full-year cash capex2 slightly below lower end of guidance, excluding acquisitions Shareholder distributions $9.4 B Including $5.1B of share buybacks Net debt-to-capital 9.5 % Debt-to-capital 13.5%; industry-leading balance sheet capacity GAAP earnings $7.5B $8.1B earnings ex. ident. items1 See page 9 and supplemental information for footnotes, definitions, and reconciliations. 3Q25 Financial results structural Strong performance reflects differentiated capabilities and disciplined management Structural cost savings vs. 2019 $14.3 B On track to deliver >$18B by 2030Driven by record production in Permian and Guyana
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7 Integrated business provides stability across commodity cycles Macro Industry prices / margins Stable crude prices reflected record demand and increasing industry supply 6 Natural gas prices remained at top of 10-year range driven by robust demand Refining margins improved due to supply disruptions Chemical margins remain below historical range, as oversupply persists See supplemental information for footnotes. 10-year annual range (2010-2019) YTD’24 3Q252Q25YTD’25 Crude prices2 ($/bbl) Natural gas prices3 ($/mbtu) Refining margins4 ($/bbl) Chemical margins5 ($/tonne) 10-year annual range1
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YTD’25 vs. YTD’24 8 Transformed business continues to deliver value Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. See supplemental information for definitions. UPSTREAM ENERGY PROD CHEMICAL PROD SPECIALTY PROD CORP & FIN TOTAL YTD'24 GAAP Earnings / (Loss) $18.9 $3.6 $2.5 $2.3 ($1.2) $26.1 YTD'24 Earnings / (Loss) ex. ident. items (non-GAAP) $18.9 $3.6 $2.5 $2.3 ($1.2) $26.1 Price / margin (4.0) (0.1) (1.3) 0.0 - (5.3) Advantaged volume growth 1.5 0.1 0.1 0.0 - 1.7 Base volume (0.4) 0.2 (0.1) (0.0) - (0.3) Structural cost savings 1.0 0.4 0.2 0.1 - 1.7 Expenses (0.5) (0.2) (0.3) (0.2) - (1.2) Other 0.9 0.2 0.0 (0.1) (1.1) (0.1) Timing effects 0.5 (0.1) - - - 0.4 YTD'25 Earnings / (Loss) ex. ident. items (non-GAAP) $17.8 $4.0 $1.1 $2.2 ($2.3) $22.9 Impairments - - - - (0.2) (0.2) Restructuring charges - - - - (0.4) (0.4) YTD'25 GAAP Earnings / (Loss) $17.8 $4.0 $1.1 $2.2 ($2.8) $22.3
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3Q25 vs. 2Q25 9 Transformed business continues to deliver value Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. See supplemental information for definitions. UPSTREAM ENERGY PROD CHEMICAL PROD SPECIALTY PROD CORP & FIN TOTAL 2Q25 GAAP Earnings / (Loss) $5.4 $1.4 $0.3 $0.8 ($0.8) $7.1 2Q25 Earnings / (Loss) ex. ident. items (non-GAAP) $5.4 $1.4 $0.3 $0.8 ($0.8) $7.1 Price / margin 0.1 0.3 0.2 (0.0) - 0.6 Advantaged volume growth 0.2 0.0 0.1 (0.0) - 0.3 Base volume (0.1) 0.1 (0.1) (0.0) - (0.2) Structural cost savings 0.1 0.0 0.0 0.0 - 0.1 Expenses (0.0) 0.0 0.0 0.0 - 0.1 Other 0.1 (0.1) 0.0 0.0 0.0 0.0 Timing effects (0.1) 0.1 - - - 0.0 3Q25 Earnings / (Loss) ex. ident. items (non-GAAP) $5.7 $1.8 $0.5 $0.7 ($0.7) $8.1 Impairments - - - - (0.2) (0.2) Restructuring charges - - - - (0.4) (0.4) 3Q25 GAAP Earnings / (Loss) $5.7 $1.8 $0.5 $0.7 ($1.2) $7.5
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10 39.3 (20.9) (27.8) (2.1) $ 23.2 $ 13.9 2.1 YE'24 cash CFO Asset sales Cash capex Shareholder distributions Debt / other 3Q25 cash Billion USD Cash flow Advantaged portfolio generates leading cash flow $20.6 billion free cash flow 1 Strong earnings drove 3Q CFO of $14.8B Cash capex of $8.6B in 3Q, inclusive of ~$2.4B acquisition costs 3Q distributions of $9.4B See supplemental information for footnotes, definitions, and reconciliations. 3Q25 vs. YE’24: Cash On pace to complete $20B of share repurchases in 2025 2
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11 Upstream Corporate Corporate & financing expenses expected to be $600M - $800M Product Solutions Progressing ramp up of key projects See page 22 for 4Q25 maintenance outlook. Full-year cash capex slightly below lower end of guidance of $27B - $29B, excluding acquisition costs Absence of ~$400M net favorable tax and asset management impacts Full-year Permian production of ~1.6 Moebd
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12 12See supplemental information for definitions and reconciliations. Our competitive advantages keep us in a league of our own Houston, Texas Leveraging advantages to capitalize on unmatched opportunity set Record production in Permian and Guyana Investment in technology continues to unlock value Leading cost discipline and execution excellence Achieved $14.3B of structural cost savings vs. 2019; $2.2B YTD Differentiated project execution supporting key 2025 start-ups; 8 of 10 complete Delivering profitable growth and creating leading shareholder value Increased quarterly dividend to $1.03, 43rd consecutive year of higher dividend-per-share annual payments Investing in high-return opportunities; full-year cash capex slightly below lower end of guidance, excluding acquisitions
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13 Q&A 13 Baytown Complex, Texas Upcoming disclosure: Corporate Plan Update webcast to be held on Tuesday, December 9th at 9:00 a.m. CST
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14 Million USD Upstream year-over-year earnings ex. ident. items Advantaged assets and continued cost discipline driving long-term profitable growth YTD’ 25 vs. YTD’ 24: Upstream 1,500 850 (3,980) (450) (480) $ 18,892 $ 17,837 960 540 YTD'24 ex. ident. items Price Advantaged assets volume Base volume Structural cost savings Expenses Other Timing effects YTD'25 ex. ident. items YTD’24: ($210M) YTD’25: $330M Transformed the business: Permian and Guyana growth and structural cost savings drive earnings improvement Lower realizations driven by higher industry supply Higher expenses due to Tengiz depreciation Other primarily reflects favorable forex and tax itemsVolume / mix Due to rounding, numbers may not add. See page 8 and supplemental information for definitions and reconciliations.
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15 Transformed the business: strategic changes made since 2019 contributed >$3B to YTD’25 earnings 1 Higher volumes driven by record refinery throughput2 and advantaged project growth Portfolio high-grading and maintenance efficiencies driving structural cost savings Million USD Energy Products year-over-year earnings ex. ident. items Earnings strength underpinned by improved portfolio and operational excellence YTD’ 25 vs. YTD’ 24: Energy Products 50 (150) 90 $ 3,631 $ 4,033 240 420 (230) 160 YTD'24 ex. ident. items Margin Advantaged projects volume Base volume Structural cost savings Expenses Other Timing effects YTD'25 ex. ident. items YTD’24: $220M YTD’25: $70MVolume / mix Due to rounding, numbers may not add. See page 8 and supplemental information for footnotes, definitions, and reconciliations.
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16 Million USD Chemical Products year-over-year earnings ex. ident. items Transformed the business: advantaged footprint, high-value products, and cost discipline consistently drive earnings above peers 1 Margins declined on lower North America feed advantage Higher volumes driven by record high-value product sales 2 Structural cost savings partially offset higher spend including China Chemical Complex ramp-up Differentiated portfolio generating positive earnings at bottom-of-cycle conditions YTD’25 vs. YTD’ 24: Chemical Products Due to rounding, numbers may not add. See page 8 and supplemental information for footnotes, definitions, and reconciliations. Volume / mix (1,280) 100 (60) (340) 20 $ 2,457 $ 1,081 180 YTD'24 ex. ident. items Margin High-value products volume Base volume Structural cost savings Expenses Other YTD'25 ex. ident. items
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17 Million USD Specialty Products year-over-year earnings ex. ident. items Consistently strong earnings driven by high- margin differentiated products YTD’ 25 vs. YTD’ 24: Specialty Products Transformed the business: portfolio of high-value products and disciplined cost management driving consistent earnings Stronger margins driven by lower feed costs Structural cost savings partially offset higher expenses, including new market development spend Other primarily driven by unfavorable forexVolume / mix 30 30 (30) (190) (70) $ 2,306 $ 2,175 100 YTD'24 ex. ident. items Margin High-value products volume Base volume Structural cost savings Expenses Other YTD'25 ex. ident. items Due to rounding, numbers may not add. See page 8 and supplemental information for definitions and reconciliations.
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18 Million USD Upstream quarter-on-quarter earnings ex. ident. items Advantaged assets and continued cost discipline driving long-term profitable growth 3Q25 vs. 2Q25 : Upstream Due to rounding, numbers may not add. See page 9 and supplemental information for definitions and reconciliations. 100 200 140 (70)(10) 70 $5,402 $5,679 (150) 2Q25 ex. ident. items Price Advantaged assets volume Base volume Structural cost savings Expenses Other Timing effects 3Q25 ex. ident. items 2Q25: $120M 3Q25: $50MVolume / mix Stable liquids prices supported by record demand 1 3Q25 production of 4.8 Moebd; Permian production of ~1.7 Moebd Structural cost savings reflect continued cost discipline Other reflects net favorable tax and asset management items
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19 Million USD Energy Products quarter-on-quarter earnings ex. ident. items Margins improved driven by supply disruptions Higher volumes driven by record refinery throughput1 and advantaged project growth Other primarily reflects unfavorable tax and forex impacts Earnings strength underpinned by improved portfolio and operational excellence 3Q25 vs. 2Q25 : Energy Products Due to rounding, numbers may not add. See page 9 and supplemental information for definitions and reconciliations. 2Q25: ($10M) 3Q25: $110MVolume / mix 330 30 120 $ 1,366 $ 1,840 120 0 30 (160) 2Q25 ex. ident. items Margin Advantaged projects volume Base volume Structural cost savings Expenses Other Timing effects 3Q25 ex. ident. items
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20 Million USD Chemical Products quarter-on-quarter earnings ex. ident. items Stronger North America margins driven by lower feed and energy costs Unfavorable regional mix partially offset by record high-value product sales 1 Lower expenses primarily reflect lower maintenance costs Differentiated portfolio generating positive earnings at bottom-of-cycle conditions 3Q25 vs. 2Q25 : Chemical Products Due to rounding, numbers may not add. See page 9 and supplemental information for definitions and reconciliations. Volume / mix 50 220 70 10 $ 293 $ 515 (130) 0 2Q25 ex. ident. items Margin High-value products volume Base volume Structural cost savings Expenses Other 3Q25 ex. ident. items
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21 Million USD Specialty Products quarter-on-quarter earnings ex. ident. items Weaker margins driven by higher basestocks feed costs Seasonally lower volumes Other reflects favorable forex and tax impacts Consistently strong earnings driven by high-margin differentiated products 3Q25 vs. 2Q25 : Specialty Products Due to rounding, numbers may not add. See page 9 and supplemental information for definitions and reconciliations. Volume / mix (30) (40) (10) 20 $ 780 $ 740 0 20 2Q25 ex. ident. items Margin High-value products volume Base volume Structural cost savings Expenses Other 3Q25 ex. ident. items
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22 ~250 ~360 ~310 ~210 ~190 ~180 ~170 ~160 ~30 ~30 ~40 ~40 0 300 600 900 4Q24 1Q25 2Q25 3Q25 4Q25 est. Energy Products Chemical Products Specialty Products Total Product Solutions outlook 4Q25 maintenance outlook See supplemental information for footnotes. 0 300 600 900 Upstream scheduled maintenance earnings impact1 Million USD 4Q24 1Q25 ~310 2Q25 ~140 3Q25 ~270 ~410 4Q25 est. Product Solutions scheduled maintenance earnings impact2 Million USD +190 +50 ~320 ~430+20 -90 ~240 ~220
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Learn more about For more information, please contact us at investor.relations@exxonmobil.com Link to 'Company overview and investment case' presentation
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Earnings sensitivities for Upstream, Energy Products, and Chemical Products Platform containing select historical and forward-looking financial and operating data Guide to modeling ExxonMobil earnings and cash flow growth plans Enhanced disclosures and transparency What is included? Sensitivities and Key Assumptions Sensitivities and Key Assumptions Interactive Analyst Center Interactive Analyst Center ‘How to model XOM’ overview ‘How to model XOM’ overview (located in Investors section of our website) Modeling Toolkit 24
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3Q25 Actuals Annual Actuals and Forward Guidance 2024 2025 PL 2027 PL 2030 PL Upstream Production (Moebd) 4.8 4.3 ~4.7 ~5.1 ~5.4 Permian Production (Moebd) 1.7 1.2 ~1.6 ~2.0 ~2.3 Energy Products Throughput (Mbd) 4.1 3.9 - - ~3.9 Chemical Product Sales (Mt) 5.5 19.4 - - ~23.7 Specialty Product Sales (Mt) 1.9 7.7 - - ~9.2 Unit earnings (non-GAAP; earnings ex-ident. items)1 (Full-year 2024 actuals and forward annual guidance for unit earnings @ constant price and margin basis2) Upstream unit earnings ($/oeb) ~$13 ~$10 - - ~$13 Energy Products unit earnings ($/bbl) ~$5 ~$2 - - ~$6 Chemical Products unit earnings ($/T) ~$93 ~$215 - - ~$310 Specialty Products unit earnings ($/T) ~$383 ~$295 - - ~$385 Share buybacks ($B) $5.1 $19.3 ~$20 (‘25-’26) - - Cash capex ($B; non-GAAP) $8.6 $25.6 ~$27-$29 $28-$33 (’26-’30) Structural Cost Savings ($B; cumulative vs. ’19) $14.3 $12.1 - ~$15 >$18 Annual Earnings Sensitivities 4Q25 Key Items Other Key Items Marker Annual Sensitivity Upstream Brent ($/bbl) Increase of $1/bbl = +$650M Henry Hub ($/mbtu) Increase of $0.10/mbtu = +$75M TTF ($/mbtu) Increase of $0.10/mbtu= +$20M Upstream earnings sensitivities based on expected 2025 volumes. Brent sensitivity includes oil-linked LNG sales which make up ~10% of sensitivity. TTF primarily represents spot LNG sales. Energy Products Indicative Refining Margin ($/bbl) Increase of $1/bbl = +$800M Indicative refining margin is only applicable to the impact of market pricing on refining performance, excluding trading and marketing contributions. Chemical Products North America Polyethylene Price (NA PE Price; $/T) Increase of $100/T = +$560M USGC Ethane Price ($/T) Decrease of $50/T = +$450M Asia Pacific Polyethylene Price (AP PE Price; $/T) Increase of $100/T = +$300M Asia Pacific LVN Price (AP LVN Price; $/T) Decrease of $50/T = +$250M Chemical Products earnings sensitivities based on Polyethylene business drivers and actual benefit or detriment to segment results could be impacted by actual price movements across other products. All sensitivities updated as of December 11, 2024. All sensitivities developed annually for forward-looking analysis and in relation to full-year results. For any given period, the accuracy of the earnings sensitivity will be dependent on the price movements of individual types of crude oil, natural gas, or products, results of trading activities, project start-up timing, maintenance timing, taxes and other government take impacts, price adjustment lags in long-term gas contracts, and crude and gas production volumes. Accordingly, changes in benchmark prices for crude oil and natural gas only provide broad indicators of changes in the earnings experienced in any particular period. Sensitivities are cumulative and not overlapping. • Absence of ~$400M of favorable tax and asset management impacts in Upstream • Full-year Permian production of ~1.6 Moebd • Progressing ramp up of key projects in Product Solutions • Corporate & financing expenses expected to be $600M - $800M • Full-year cash capex slightly below lower end of guidance of $27B - $29B, excluding acquisition costs • Maintenance outlooks for 4Q25 can be found on slide 22 of the 3Q25 earnings slides 1 Unit earnings based on earnings ex-identified items. Unit earnings for 3Q25 actuals reflects actual prices/margins. 2 See Corporate Plan constant price and margin assumptions in Sensitivities and Key Assumption in Modeling Toolkit. See supplemental information for definitions and reconciliations. 25 Sensitivities and Key Assumptions
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26 Supplemental information Forward-looking statements contained in this presentation regarding the potential for future earnings, cash flow, shareholder di stributions, returns, structural cost savings, cash capital expenditures, and volumes, including statements regarding future earnings potential, and returns in the Upstream and Product Solutions segments and in our lower-carbon investments, are not forecasts of actual future results. These figures are provided to help quantify, for illustrative purposes, management’s view of the potential future ma rkets and results and goals of currently-contemplated management plans and objectives over the time periods shown, calculated on a basis consistent with our internal modeling assumptions. Management p lans discussed in this presentation include objectives to invest in new projects and markets, plans to replace natural decline in Upstream production, plans to increase sales in our Energy, Chemical, and Specialty Products segments, the development of a Low Carbon Solutions business, continued high grading of ExxonMobil’s portfolio through our ongoing asset management program, both announced and continuous initiatives to improve efficiencies and reduce costs, capital expenditures, operating costs, and cash management, and other efforts within management’s control to impact future results as discussed in this presentation. We have assumed future demand growth in line with our internal planning basis, and that other factors including factors management does not control such as applicable laws and reg ulations (including tax, tax incentives, and environmental laws), technology advancements, interest rates, and exchange rates remain consistent with current conditions for the relevant periods. These as sumptions are not forecasts of actual future market conditions. Capital investment guidance in lower-emissions investments is based on plan, however actual investment levels will be subject to the ava ilability of the opportunity set and focused on returns. Non-GAAP and other measures. With respect to historical periods, reconciliation information is provided on pages 8 to 9 and 14 to 21 and in the Frequently Used Terms available under the “Modeling Toolkit” tab on the Investor Relations page of our website at www.exxonmobil.com for certain terms used in this presentation including cash capex; cash opex excluding energy and production taxes; earnings ex. identified items; earnings adjusted to 2024 $65/bbl real Brent and 10-year average Energy, Chemical, and Specialty Products margins; operating costs; shareholder distributions; structural cost savings; unit earnings; and free cash flow. For future periods, we are unable to provide a reconciliation of forward-looking non-GAAP or other measures to the most comparable GAAP financial measures because the information needed to reconcile these measures is dependent on future events, many of which are outside management’s control as described above. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with our accounting policies for future periods is extremely difficult and requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated in a manner consistent with the relevant definitions and assumptions noted above.
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27 Supplemental information Important information and assumptions regarding certain forward-looking statements. For all price point comparisons, unless otherwise indicated, we assume $65/bbl Brent crude prices, $3/mmbtu Henry Hub gas prices, and $6.5/mmbtu TTF gas prices. Lower emissions returns are calculated based on current and potential future government policies based on Exx onMobil projections as of the date of this presentation. Unless otherwise specified, crude prices are Brent prices. These are used for clear comparison purposes an d are not necessarily representative of management’s internal price assumptions. Crude and natural gas prices for future years are adjusted for inflation (assumption of 2.5%) from 2024. Operating costs and capex are also inflated consistent with plans done on a country-by-country basis. Energy, Chemical, and Specialty Product margins reflect annual historical averages for the 10 -year period from 2010—2019 unless otherwise stated. These prices are not intended to reflect management’s forecasts for future prices or the prices we use for internal planning purposes. Unless otherwise indicated, asset sales and proceeds and Corporate and Financing expenses are aligned with our internal planning. Corporate and Financing expenses reflect estimated potential debt levels. Our capital allocation plans do not extend beyond 2030. Statements about our businesses that reference periods beyond 2030 ar e made on a basis consistent with ExxonMobil’s Global Outlook, which is publicly available on our website. Actions needed to advance ExxonMobil’s 2030 greenhouse gas emission -reductions plans are incorporated into its medium-term business plans, which are updated annually. The reference case for emission-reduction planning beyond 2030 is based on the ExxonMobil’s Global Outlook (Outlook) r esearch and publication. The Outlook is reflective of the existing global policy environment and an assumption of increasing policy stringency and technology improvement to 2050. However, the 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 technolo gy advancements emerge, they will be incorporated into the Outlook, and ExxonMobil’s business plans will be updated accordingly. References to projects or opportunities may not reflect investment d ecisions made by ExxonMobil or its affiliates. Individual projects or opportunities may advance based on a number of factors, including availability of stable and supportive policy, permitting, technological advancement for cost -effective abatement, insights from the company planning process, and alignment with our partners and other stakeholders. Capital investment guidance in lower emission investments is based on our corporate plan; however, actual investment levels will be subject to the availability of the opportunity set, public policy support, and focused on returns. ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and si mplicity, words such as venture, joint venture, partnership, co -venturer, operated by others, and partner are used to indicate business and other relationships involving common activities and interes ts, and those words may not indicate precise legal relationships. Competitor data and ExxonMobil data used for comparisons to competitor data are sourced from publicly available information, Bloomberg, and FactSet and are done so consistently for each company in the comparison. Future competitor data and future ExxonMobil data used for comparison to future competitor data, unless otherwise noted, are sourced from FactSet and have not been independently verified by ExxonMobil or any third party. We note that certain competitors report financial information under accounting sta ndards other than U.S. GAAP (i.e., IFRS). All references to production rates, project capacity, resource size, and acreage are on a net basis, unless otherwise noted. All references to tons refer to metric tons, unless otherwise noted. Due to rounding, numbers may not add. See the Cautionary Statement at the front of this presentation for additional information regarding forward -looking statements.
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28 SELECTED EARNINGS DRIVER DEFINITIONS Advantaged volume growth. Represents earnings impact from change in volume/mix from advantaged assets, advantaged projects, and high-value products. See supplemental information for definitions of advantaged assets, advantaged projects, and high-value products. Base volume. Represents and includes all volume/mix drivers not included in advantaged volume growth driver defined above. Structural cost savings. Represents after-tax earnings effect of structural cost savings, including cash operating expenses related to divestments. See supplemental information for the definition and reconciliation of structural cost savings. Expenses. Represents and includes all expenses otherwise not included in other earnings drivers. Timing effects. Represents timing effects that are primarily related to unsettled derivatives (mark-to-market) and other earnings impacts driven by timing differences between the settlement of derivatives and their offsetting physical commodity realizations (due to LIFO inventory accounting). Supplemental information
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29 DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Advantaged assets (advantaged growth projects). When used in reference to our Upstream business, includes Permian, Guyana, and LNG. Advantaged projects. Capital projects and programs of work that contribute to Energy, Chemical, and/or Specialty Products segments that drive integration of segments/businesses, increase yield of higher value products, or deliver higher-than-average returns. Base portfolio (base). In our Upstream segment, refers to assets (or volumes) other than advantaged assets (or volumes from advantaged assets). In our Energy Products segment, refers to assets (or volumes) other than advantaged projects (or volumes from advantaged projects). In our Chemical Products and Specialty Products segments refers to volumes other than high-value products volumes. Cash capital expenditures (cash capex) (non-GAAP). See reconciliation and definition on page 36. Cash flow from operations excluding working capital (non-GAAP). See reconciliation and definition on page 35. Cash flow from operations excluding working capital/other (non-GAAP). See reconciliation and definition on page 35. Cash operating expenses (cash opex) excluding energy and production taxes (non-GAAP). Subset of total operating costs that are stewarded internally to support management’s oversight of spending over time. This measure is useful for investors to understand our efforts to optimize cash through disciplined expense management for items within management’s control. Compound annual growth rate (CAGR). Represents the consistent rate at which an investment or business result would have grown had the investment or business result compounded at the same rate each year. Debt to capital (debt-to-capital, debt-to-capital ratio, leverage). Total debt / (Total debt + Total equity). Total debt is the sum of (1) Notes and loans payable and (2) Long-term debt, as reported in ExxonMobil’s Form 10-Qs and 10-Ks. Distributions to shareholders (shareholder distributions). The Corporation distributes cash to shareholders in the form of both dividends and share purchases. Shares are acquired to reduce shares outstanding and to offset shares or units settled in shares issued in conjunction with company benefit plans and programs. For the purposes of calculating distributions to shareholders, the Corporation includes only the cost of those shares acquired to reduce shares outstanding. Divestments. Refers to asset sales; results include associated cash proceeds and production impacts, as applicable, and are consistent with our internal planning. Supplemental information
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30 DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Earnings (loss) excluding identified items (earnings ex. ident. items; adjusted earnings) (non-GAAP). 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 (loss) 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 the periods on pages 8 and 9. High-value products. Includes performance products and lower-emissions fuels. Industry-leading results (industry-leading returns; industry-leading financial performance). Includes our leadership in metrics such as earnings, cash flow, shareholder distributions, debt-to- capital, net debt-to-capital, and total shareholder return versus the IOCs. Similar terms, such as industry-leading performance or industry-leading shareholder value, refer to our leadership versus the IOCs in total shareholder return as applicable in the context presented. IOCs. Unless stated otherwise, IOCs include each of BP, Chevron, Shell, and TotalEnergies. Lower-emission fuels. Fuels with lower life cycle emissions than conventional transportation fuels for gasoline, diesel, and jet transport. Net debt to capital (net debt-to-capital; net-debt-to-capital ratio). Net debt / (Net debt + Total equity), where net debt is total debt net of cash and cash equivalents, excluding restricted cash. Total debt is the sum of (1) Notes and loans payable and (2) Long-term debt, as reported in ExxonMobil’s Form 10-Qs and 10-Ks. Operating costs (opex) (non-GAAP). Operating costs are the costs during the period to produce, manufacture, and otherwise prepare the company’s products for sale – including energy, staffing, and maintenance costs. They exclude the cost of raw materials, taxes, and interest expense and are on a before-tax basis. The terms “adjusted operating costs” or “adjusted opex” are used to indicate the sum of operating costs from consolidated affiliates and ExxonMobil’s share of equity company operating costs. While ExxonMobil’s management is responsible for all revenue and expense elements of net income, operating costs, as defined above, represent the expenses most directly under management’s control, and therefore are useful for investors and ExxonMobil management in evaluating management’s performance. For information concerning the calculation and reconciliation of operating costs see the table on page 38. Performance products (performance chemicals; performance lubricants). Refers to products that provide differentiated performance for multiple applications through enhanced properties versus commodity alternatives and bring significant additional value to customers and end-users. Supplemental information
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31 DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Project. The term “project” as used in this presentation can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Projects or plans may not reflect investment decisions made by ExxonMobil or its affiliates. Individual opportunities may advance based on a number of factors, including availability of stable and supportive policy, permitting, technological advancement for cost-effective abatement, insights from the Company planning process, and alignment with our partners and other stakeholders. We may refer to these opportunities as projects in external disclosures at various stages throughout their progression. Reinvestment rate. Reinvestment rate is calculated as cash capex divided by cash flow from operations excluding working capital / other. Resources, resource base, and recoverable resources. Along with similar terms, refer to the total remaining estimated quantities of oil and natural gas that are expected to be ultimately recoverable. The resource base includes quantities of oil and natural gas classified as proved reserves, as well as quantities that are not yet classified as proved reserves, but that are expected to be ultimately recoverable. The term “resource base” or similar terms are not intended to correspond to SEC definitions such as “probable” or “possible” reserves. The term “in-place” refers to those quantities of oil and natural gas estimated to be contained in known accumulations and includes recoverable and unrecoverable amounts. Returns, rate of return, investment returns, project returns, IRR. Unless referring specifically to ROCE or external data, references to returns, rate of return, IRR, and similar terms mean future discounted cash flow returns on future capital investments based on current company estimates. Investment returns exclude prior exploration and acquisition costs. Structural cost savings (structural cost reductions; cost discipline). Structural cost savings describe decreases in cash opex excluding energy and production taxes as a result of operational efficiencies, workforce reductions, divestment-related reductions, and other cost-savings measures, that are expected to be sustainable compared to 2019 levels. Relative to 2019, estimated cumulative structural cost savings totaled $14.3 billion, which included an additional $2.2 billion in the nine months of 2025. The total change between periods in expenses will reflect both structural cost savings and other changes in spend, including market drivers, such as inflation and foreign exchange impacts, as well as changes in activity levels and costs associated with new operations, mergers and acquisitions, new business venture development, and early-stage projects. Structural cost savings from new operations, mergers and acquisitions, and new business venture developments are included in the cumulative structural cost savings. Estimates of cumulative annual structural cost 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 our efforts to optimize spending through disciplined expense management. For information concerning the calculation and reconciliation of operating costs see the table on page 38. Total shareholder return (TSR). For the purposes of this disclosure, total shareholder return is as defined by FactSet and measures the change in value of an investment in common stock over a specified period of time, assuming dividend reinvestment. For this purpose, FactSet assumes dividends are reinvested in stock at market prices on the ex-dividend date. Unless stated otherwise, total shareholder return is quoted on an annualized basis. Unit earnings excluding identified items. In our Upstream segment, refers to earnings excluding identified items divided by oil-equivalent production. In our Energy Products segment, refers to earnings excluding identified items divided by refinery throughput. In our Chemical Products and Specialty Products segments refers to earnings excluding identified items divided by sales volumes. Supplemental information
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32 RECONCILIATION OF UPSTREAM UNIT EARNINGS UPSTREAM EARNINGS EX. IDENT. ITEMS 2019 2024 YTD 2025 Earnings (U.S. GAAP) 14.4 25.4 17.8 Asset management (Announced divestments) 3.7 0.4 0.0 Impairment 0.0 (0.4) 0.0 Tax / Other items (Tax items, additional European taxes on energy sector) 0.8 0.2 0.0 Earnings ex. identified items 10.0 25.2 17.8 Adjustment to 2024 $65/bbl real Brent (2.5) (9.4) (3.2) Earnings ex. identified items, and adjusted to 2024 $65/bbl real Brent 7.5 15.8 14.6 Production (Moebd, $65/bbl real Brent)1 4.0 4.3 4.7 Unit earnings, ex. identified items ($/oeb, adjusted to 2024 $65/bbl real Brent)2 ~$5 ~$10 >$11 Supplemental information 1 Production adjusted to $65/bbl real Brent. Differences versus actual production include entitlements and other price-linked volume impacts. 2 The unit earnings calculation for Upstream ($/oeb) uses total production, which is equal to Production (Moebd) multiplied by the number of days in the period multiplied by 1,000,000. Billions of dollars unless specified otherwise. Due to rounding, numbers may not add.
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Supplemental information RECONCILIATION OF 3Q25 EARNINGS U/S ENERGY PROD CHEMICAL PROD SPECIALTY PROD Earnings (U.S. GAAP) 5.7 1.8 0.5 0.7 Identified items 0.0 0.0 0.0 0.0 Earnings ex. identified items (non-GAAP) 5.8 1.8 0.5 0.7 U/S production - Moebd, Energy Products refinery throughput - Mbd, Chemical Products sales - Mt, Specialty Products sales – Mt 4.8 4.1 5.5 1.9 Unit earnings, ex. identified items - $/oeb, $/bbl, $/ton, $/ton (non-GAAP)1,2,3 ~$13 ~$5 ~$93 ~$383 1 The unit earnings calculation for Upstream ($/oeb) uses total production, which is equal to Production (Moebd) multiplied by the number of days in the period multiplied by 1,000,000. 2 The unit earnings calculation for Energy Products ($/bbl) uses total refinery throughput, which is equal to refinery throughput (Mbd) multiplied by the number of days in the period multiplied by 1,000,000. 3 The unit earnings calculations for Chemical and Specialty Products ($/ton) uses total sales volume, which is equal to Sales Volume (Mt) multiplied by 1,000,000. Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. 33
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RECONCILIATION OF 2024 EARNINGS U/S ENERGY PROD CHEMICAL PROD SPECIALTY PROD Earnings (U.S. GAAP) 25.4 4.0 2.6 3.1 Identified items 0.2 0.1 (0.1) (0.0) Earnings ex. identified items (non-GAAP) 25.2 4.0 2.7 3.1 Adjustments to 2024 $65/bbl real Brent and 10-year average Energy, Chemical, and Specialty Product margins (9.4) (0.8) 1.5 (0.8) Earnings ex. identified items (non-GAAP), adjusted to constant price and margin basis 15.8 3.2 4.1 2.3 U/S production - Moebd, Energy Products refinery throughput - Mbd, Chemical Products sales - Mt, Specialty Products sales – Mt 4.3 3.9 19.4 7.7 Unit earnings, ex. identified items - $/oeb, $/bbl, $/ton, $/ton (non-GAAP)1,2,3,4 ~$10 ~$2 ~$215 ~$295 Supplemental information 1 The unit earnings calculation for Upstream ($/oeb) uses total production, which is equal to Production (Moebd) multiplied by the number of days in the period multiplied by 1,000,000. 2 The unit earnings calculation for Energy Products ($/bbl) uses total refinery throughput, which is equal to refinery throughput (Mbd) multiplied by the number of days in the period multiplied by 1,000,000. 3 The unit earnings calculations for Chemical and Specialty Products ($/ton) uses total sales volume, which is equal to Sales Volume (Mt) multiplied by 1,000,000. 4 The unit earnings calculation is rounded to nearest dollar (Upstream, Energy Products) or five dollars (Chemical Products, Specialty Products). Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. 34
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Millions of dollars unless specified otherwise. Due to rounding, numbers may not add. Supplemental information CASH FLOW FROM OPERATIONS 3Q25 YTD25 Net income / (loss) including noncontrolling interests 7,768 23,155 Depreciation and depletion (includes impairments) 6,475 18,278 Changes in operational working capital, excluding cash and debt (152) (5,000) All other items – net 697 2,858 Cash flow from operations (US GAAP) $14,788 $39,291 Less: Changes in operational working capital, excluding cash and debt 152 5,000 Cash flow from operations excluding working capital (non-GAAP) $14,940 $44,291 Less: All other items – net (697) (2,858) Cash flow from operations excluding working capital / other (non-GAAP) $14,243 $41,433 Cash flow from operations excluding working capital / other (non-GAAP) is net cash provided by operating activities less changes in operational working capital, excluding cash and debt, and all other items – net. This measure is useful when evaluating cash available for investment in the business and financing activities as operational working capital, excluding cash and debt, and all other items – net can vary quarter-to-quarter due to volatility and changing needs of the corporation. Cash flow from operations excluding working capital / other is not meant to be viewed in isolation or as a substitute for net cash provided by operating activities. Cash flow from operations excluding working capital (non-GAAP) is net cash provided by operating activities less changes in operational working capital, excluding cash and debt. This measure is useful when evaluating cash available for investment in the business and financing activities as operational working capital, excluding cash and debt can vary quarter-to-quarter due to volatility and changing needs of the corporation. Cash flow from operations excluding working capital is not meant to be viewed in isolation or as a substitute for net cash provided by operating activities. 35
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36 Millions of dollars unless specified otherwise. Due to rounding, numbers may not add. Cash capital expenditures (cash capex) (non-GAAP). Sum of Additions to property, plant and equipment; Additional investments and advances; and Other investing activities including collection of advances; reduced by Inflows from noncontrolling interests for major projects, each from the Consolidated Statement of Cash Flows. This measure is useful for investors to understand the cash impact of investments in the business, which is in line with standard industry practice. CASH CAPITAL EXPENDITURES 3Q25 YTD25 Additions to property, plant and equipment 8,727 20,908 Additional investments and advances 501 973 Other investing activities including collection of advances (610) (949) Less: Inflows from noncontrolling interests for major projects (23) (68) Total cash capital expenditures (non-GAAP) $8,595 $20,864 Supplemental information
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37 Millions of dollars unless specified otherwise. Due to rounding, numbers may not add. Supplemental information Free cash flow (non-GAAP) is the sum of net cash provided by operating activities, net cash flow used in investing activities excluding cash acquired from mergers and acquisitions, and inflows from noncontrolling interests for major projects from financing 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. FREE CASH FLOW 3Q25 YTD25 Net cash provided by operating activities (U.S. GAAP) 14,788 39,291 Additions to property, plant and equipment (8,727) (20,908) Proceeds from asset sales and returns of investments 139 2,138 Additional investments and advances (501) (973) Other investing activities including collection of advances 610 949 Inflows from noncontrolling interests for major projects 23 68 Free cash flow (non-GAAP) $6,332 $20,565 Less: Changes in operational working capital, excluding cash and debt 152 5,000 Free cash flow excluding working capital (non-GAAP) $6,484 $25,565 Less: All other items – net (697) (2,858) Free cash flow excluding working capital / other (non-GAAP) $5,787 $22,707 Free cash flow excluding working capital / other (non-GAAP) is the sum of net cash provided by operating activities, net cash flow used in investing activities excluding cash acquired from mergers and acquisitions, and inflows from noncontrolling interests for major projects from financing activities, less changes in operational working capital, excluding cash and debt, and all other items – net. 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. Free cash flow excluding working capital (non-GAAP) is the sum of net cash provided by operating activities, net cash flow used in investing activities excluding cash acquired from mergers and acquisitions, and inflows from noncontrolling interests for major projects from financing activities, less changes in operational working capital, excluding cash and debt. 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.
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38 Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. CALCULATION OF STRUCTURAL COST SAVINGS 2019 2024 YTD 3Q24 YTD 3Q25 Components of operating costs From ExxonMobil’s Consolidated statement of income (U.S. GAAP) Production and manufacturing expenses 36.8 39.6 28.8 30.3 Selling, general and administrative expenses 11.4 10.0 7.4 8.1 Depreciation and depletion (includes impairments) 19.0 23.4 16.9 18.3 Exploration expenses, including dry holes 1.3 0.8 0.6 0.5 Non-service pension and postretirement benefit expense 1.2 0.1 0.1 0.3 Subtotal 69.7 74.0 53.7 57.4 ExxonMobil’s share of equity company expenses (non-GAAP) 9.1 9.6 7.1 7.8 Total adjusted operating costs (non-GAAP) 78.8 83.6 60.8 65.3 Less: Depreciation and depletion (includes impairments) 19.0 23.4 16.9 18.3 Non-service pension and postretirement benefit expense 1.2 0.1 0.1 0.3 Other adjustments (includes equity company depreciation and depletion) 3.6 3.7 2.5 3.7 Total cash operating expenses (cash opex) (non-GAAP) 55.0 56.4 41.3 43.0 Energy and production taxes (non-GAAP) 11.0 13.9 10.3 11.2 Total cash operating expenses (cash opex) excluding energy and production taxes (non-GAAP) 44.0 42.5 31.0 31.8 vs. 2019 vs. 2024 Cumulative Change: -1.5 +0.8 Market +4.0 +0.5 Activity/Other +6.6 +2.5 Structural cost savings -12.1 -2.2 -14.3 Supplemental information
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39 Page 6 1) For a reconciliation of ExxonMobil’s earnings excluding identified items to earnings (U.S. GAAP), please see page 9. 2) For a reconciliation of ExxonMobil’s cash capex, please see page 36. Page 7 1) 10-year range includes 2010-2019, a representative 10-year business cycle which avoids the extreme outliers in both directions that the market experienced in recent years. 2) Source: S&P Global Platts. 3) Source: Intercontinental Exchange (ICE). 70%/30% weighting of Henry Hub and TTF price based on the proportion of the reported ICE trade volumes. 4) Source: S&P Global Platts and ExxonMobil analysis. Net margin calculated by industry capacity weighting of North America (U.S. Gulf Coast Maya – Coking, WTI – Cracking), Northwest Europe (Brent – Catalytic Cracking), and Singapore (Dubai – Catalytic Cracking) netted for industry average Opex, energy, and renewable identification numbers (RINS). 5) Source: IHS Markit, Platts, and company estimates. Overall, chemical margin based on industry capacity weighting of polyethylene, polypropylene, and paraxylene. Polyethylene margin based on industry capacity weighting by region, grouped by feedstock (North America + Middle East, Europe, Asia Pacific). Polypropylene margin based on industry capacity weighting by region, grouped by feedstock (North America, Europe, Asia Pacific + Middle East). 6) Source: International Energy Agency historical global liquids demand. Page 3 1) ExxonMobil has lower net debt-to-capital and debt-to-capital than all IOCs. Net debt-to- capital and debt-to-capital are sourced from Bloomberg. Figures are actuals for IOCs that reported results on or before October 30, 2025, or estimated using Bloomberg consensus as of October 30, 2025. Page 4 1) Production adjusted to $65/bbl real Brent. Differences versus actual production include entitlements and other price-linked volume impacts. 2) Advantaged project earnings contribution exclude identified items and are adjusted to 10-year average Energy, Chemical, and Specialty Product margins, which refer to the average of annual margins from 2010-2019. 3) Unit earnings exclude identified items and are adjusted to 2024 $65/bbl real Brent (assumes annual inflation of 2.5%). 4) Earnings exclude identified items and are adjusted to the 10-year average Energy, Chemical, and Specialty Product margins, which refer to the average of annual margins from 2010-2019. Page 5 1) Mega-projects defined using ExxonMobil analysis of industry projects with FID between 2019–2028 and >$5B gross project cost utilizing Corporate Annual Reports, company publications and press releases, and Wood Mackenzie. Projects with future FID’s for 2026-2028 are forward-looking and are consistent with ExxonMobil’s current company plans. 2) Based on ExxonMobil analysis of projects funded since formation of ExxonMobil Global Projects organization in 2019 using historical benchmarking results from Independent Project Analysis (IPA). Supplemental information
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40 Page 10 1) Includes PP&E additions of ($20.9B), net investments / advances of ($0.0B), and inflows from noncontrolling interests for major projects of $0.1B. 2) Buyback program assumes continued reasonable market conditions. Page 15 1) Includes earnings contributions from advantaged projects, divestments, trading and commercial activities, structural cost reductions, and reliability improvements since 2019 on a 3Q25 margin basis. Excludes timing impacts. 2) Highest global refining throughput year-to-date on a same-site basis since the merger of Exxon and Mobil. Page 16 1) Chemical peer earnings are sourced using Bloomberg as of October 30, 2025. Chemical peers defined as Dow, LyondellBasell, Sinopec, Shell, and Chevron Phillips (inferred via Phillips 66 Chemicals segment). Excludes TotalEnergies due to lack of standalone Chemicals segment reporting and/or consensus. 2) Based on comparing year-to-date high-value product sales since 2019. Page 18 1) Source: International Energy Agency historical global liquids demand. Page 19 1) Highest global refining throughput quarterly on a same-site basis since the merger of Exxon and Mobil. Supplemental information Page 20 1) Based on comparing quarterly high-value product sales since 2019. Page 22 1) 4Q25 estimate for Upstream based on October prices. 2) 4Q25 estimate for Product Solutions based on September refining margins and operating expenses related to turnaround and planned maintenance activities.