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ExxonMobil — 3Q26 Earnings presentation (company IR deck)
ExxonMobil (XOM) · 43 slides · Filed Oct 30, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All XOM deck slides
Slide 1 — 3Q 2026 Earnings Call
1 3Q 2026 Earnings Call October 30, 2026 U.S. Gulf Coast Asset Reconfiguration, Baytown, Texas
Slide 2 — Cautionary statement
2 Cautionary statement FORWARD-LOOKING STATEMENTS. Statements of future events, conditions, expectations, plans, performance, earnings power, earnings growth, potential addressable markets, opportunities, 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 and ammonia, lithium, direct air capture, ProxximaTM resin 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 integrated Upstream Permian Basin unconventional operated 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, transport and store CO2, produce hydrogen and ammonia, produce lower-emission fuels, produce lithium, produce ProxximaTM resin systems, produce carbon materials, and use plastic waste as feedstock for advanced recycling; future debt levels and credit ratings; maintenance and turnaround activity; drilling and improvement programs; price and margin recovery; business and project plans, timing, costs, capacities, and profitability; planned Pioneer and 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, margins, volume/mix, seasonal fluctuations, availability, or other market or economic conditions affecting the oil, gas, and petrochemical industries and the supply and 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 and derivative positions, including timing effects, on our margins and results each quarter; 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; timely granting of governmental permits, licenses, and certifications; 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; reservoir performance and optimization, including variability and timing factors applicable to unconventional projects, the success of new unconventional and AI- enhanced technologies, and the ability of new technologies to improve drilling performance and recovery relative to competitors; the level, outcome, and timing of exploration and development projects and decisions to invest in future reserves and resources; timely completion of construction projects, and commencement of start-up operations, including reliance on third-party suppliers and service providers; government actions in pursuit of national energy and security policies or priorities affecting our business; closure of producing markets or reintroduction of regional markets; escalating geopolitical volatility, including regime changes; war, civil unrest, attacks against the company or industry, disruption, realignment or breaking of current or historical trade or military alliances or global trade and supply chain networks, and other political or security disturbances; expropriations, seizures, and capacity, insurance, export, import, or shipping limitations imposed directly or indirectly by governments or laws or international embargoes; the outcome of commercial negotiations, including final agreed terms and conditions; 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 or disruptions, 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 25.
Slide 3 — Decade of disciplined investment delivering industry-
Footer Text 3 Decade of disciplined investment delivering industry- leading results, supplying products society needs • Set record year-to-date global fuels utilization, excluding Middle East impacts1 • Maximized diesel with record global yield and North American diesel volume year to date2 • Achieved cumulative Upstream production milestones: 1 billion barrels at both Guyana and Kearl, 100 MT at PNG LNG • Reached agreement to increase working interest at Papua and Rovuma LNG projects; assumed operatorship at Papua • Advanced CCS growth with startup at Nucor and approval for Rose carbon storage project • Further strengthened balance sheet with nearly $11B of year- to-date net debt reduction • Reached 44 consecutive years of increases in annual dividends per share, longer streak than 95% of S&P 500 companies • Announced 2027 share repurchases of $20B3 Cash capex 3Q26 Operational highlights Financial highlights YTD Cash flow from operations Adjusted earnings GAAP earnings GAAP earnings per share Adjusted earnings per share $7.0B $20.0B $25.7B $57.9B $4.23 $9.82 $41.0B $15.4B $34.1B $3.72 $8.18 $17.5B See supplemental information for footnotes, definitions, and reconciliations.
Slide 4 — Unprecedented supply disruptions
Footer Text 4 Crude prices within historical range due to lower available refining capacity International natural gas prices increased on limited Middle East supply Refining margins reached record levels on unavailable capacity6 Chemical margins declined on higher product availability Unprecedented supply disruptions across value chains Macro Industry prices / margins 10-year annual range1 10-year annual range (2010-2019) YTD'25 3Q26 2Q26 YTD‘26 Crude prices ($/bbl) Natural gas prices ($/mbtu) Refining margins ($/bbl) Chemical margins ($/ton) 2 3 4 5 See supplemental information for footnotes.
Slide 5 — $17B
Footer Text 5 2019 YTD Volume / mix Structural cost reductions Inflation and foreign exchange 2026 YTD $17B Investments in refining since 2019 to increase yield of higher-value products ~10% Increase in crude capacity since 20193 30% Turnaround cost improvement5 Energy Products U.S. Gulf Coast distillate volumes3 Kbd 2019 YTD 2026 YTD Earnings improvement Constant margin2 3x unit earnings 40% increase Advantaged investments, structural cost savings, and operational excellence transforming earnings power 4 Record year-to-date global fuels utilization, excluding Middle East1 See supplemental information for footnotes and definitions.
Slide 6 — Advantaged investments, cost savings,
Footer Text 6 Benefitting from investments in advantaged capacity and expanded optimization capabilities Advantaged volume growth in Upstream (Guyana, Permian) and Energy Products (Singapore, Canada, UK) Lower base volumes driven by external impacts, scheduled maintenance, and divestments Higher expenses from depreciation, advantaged investments, and scheduled maintenance YTD'26 versus YTD'25: Corporate Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for footnotes, definitions, and reconciliations. $22,343 $34,121 $22,457 $40,957 YTD'25 GAAP Price / margin Advantaged volume growth Base volume Middle East volume impacts Structural cost savings Expenses Other YTD'26 GAAP Adjusting items Adjusted earnings (Non-GAAP) Volume / mix (2,870) Adjusting items Adjusted earnings (Non-GAAP) (1,510) (3,050) (870) 1,440 6,836 114 1 2,680 22,680 Advantaged investments, cost savings, and technology delivering strong earnings and volumes Million USD
Slide 7 — Disciplined investments and operational
Footer Text 7 10.7 57.9 1.1 (20.0) (28.0) (9.6) 12.2 YE'25 cash CFO Asset sales and other Cash capex Shareholder distributions Debt / other 3Q26 cash Disciplined investments and operational excellence generating industry-leading cash flow Year-to-date cash flow $39.0 billion free cash flow; $38.8 billion free cash flow excluding working capital/other See supplemental information for footnotes, definitions, and reconciliations. Due to rounding, numbers may not add. 2 1 Net debt lower by more than $9B in third quarter Industry-leading net debt to capital improved to 7.5%; net debt to EBITDA 0.2x3 Increased dividend per share by 4%; 44th consecutive year of annual dividend-per-share growth Share repurchases in 2027 of $20B4 Billion USD
Slide 8 — LOOKING AHEAD TO 4Q26
Footer Text 8 Assume Middle East production impact of ~350 Koebd, in line with 3Q Fifth Guyana FPSO start up in late 4Q Scheduled maintenance expected to be higher than 3Q26 LOOKING AHEAD TO 4Q26 See page 20 for 4Q26 maintenance outlook. Product Solutions Corporate Corporate and financing expenses expected to be $500M - $700M Upstream Full-year Permian production of ~1.8 Moebd Full-year cash capex within $27B - $29B range
Slide 9 — Appendix
9 Appendix
Slide 10 — Capturing market value through
Footer Text 10 Lower advantaged volumes with accelerated Guyana entitlement impacts Lower maintenance costs $14,525 $15,413 155 3,590 $14,680 $17,505 2Q26 GAAP Price / margin Advantaged volume growth Base volume Middle East volume impacts Structural cost savings Expenses Other 3Q26 GAAP Million USD Capturing market value through disciplined approach 3Q26 versus 2Q26: Corporate Adjusting items Adjusted earnings (Non-GAAP) Adjusting items Adjusted earnings (Non-GAAP) 0 180 Volume / mix 1 2,092 (350) (640) 40 10 Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for footnotes, definitions, and reconciliations.
Slide 11 — On track to deliver 2030 plan: expect ~$25B earnings growth
Footer Text 11 On track to deliver 2030 plan: expect ~$25B earnings growth and ~$35B cash flow growth from 2024-2030 Upstream Product Solutions Company-wide Advantaged assets underpin improved unit profitability Advantaged projects drive high-value product growth Fundamentally transforming company’s cost base Earnings growth and cash flow growth refer to earnings growth at constant prices and margins, and cash flow growth at constant prices and margins. See supplemental information for footnotes, definitions, and reconciliations. ~$20 B Structural cost savings by 2030 versus 2019 Cumulative savings more than double nearest IOC5 Corporate >40 % of earnings potential by 2030 driven by high-value products4 >$15/bbl unit earnings by 2030, underpinned by advantaged assets3 Upstream production (Moebd) Advantaged assets Base 2024 2026 YTD 2030 Plan 52% 58% ~65% 4.3 4.6 ~5.5 Upstream Energy Products Chemical Products Specialty Products 2024 2026 YTD 2030 $16.9B ~$20B $12.1B Earnings contributions from advantaged projects High-value product sales volume 2024 YTD 2026 YTD YTD Avg. 2030 Plan ~$4.5B 10.5 Mt ~17.1 Mt $2.5B 11.1 Mt $1.4B 1 2
Slide 12 — Capturing market value through
Footer Text 12 Advantaged volume growth in Guyana, Permian, and Golden Pass LNG Lower base volumes driven by divestments and external impacts Higher expenses driven by depreciation and advantaged asset growth, partly offset by structural cost savings YTD'26 versus YTD'25: Upstream $17,511 $20,752 $17,837 $22,762 YTD'25 GAAP Price Advantaged assets volume Base volume Middle East volume impacts Structural cost savings Expenses Other YTD'26 GAAP Adjusting items Adjusted earnings (Non-GAAP) Adjusting items Adjusted earnings (Non- GAAP) (390) 7,960 540 (2,060) Volume / mix 1 (670) (2,140) 2,010 2,010 Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for footnotes, definitions, and reconciliations. 326 GAAP Earnings Million USD Capturing market value through disciplined approach
Slide 13 — Capturing market value through
Footer Text 13 Record year-to-date fuels utilization, excluding Middle East impacts2 Maximizing margin capture from strong optimization Base volumes lower due to external impacts and scheduled maintenance Expenses driven by scheduled maintenance and advantaged project growth YTD'26 versus YTD'25: Energy Products $3,963 $11,372 13,100 — $4,033 YTD'25 GAAP Margin Advantaged projects volume Base volume Middle East volume impacts Structural cost savings Expenses Other YTD'26 GAAP Adjusting items Adjusted earnings (Non-GAAP) Adjusting items Adjusted earnings (Non- GAAP) (920) (780) (50) 4,579 70 Volume / mix 1 570 $15,951 (590) Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for footnotes, definitions, and reconciliations. 660 Million USD GAAP Earnings Capturing market value through disciplined approach
Slide 14 — Capturing market value through
Footer Text 14 Record reliability and increased North American feed advantage enable strong margin capture1 Structural cost savings more than offset higher expenses YTD'26 versus YTD'25: Chemical Products $1,081 $1,976 210 $2,049 YTD'25 GAAP Margin High-value products volume Base volume Structural cost savings Expenses Other YTD'26 GAAP Adjusting items Adjusted earnings (Non-GAAP) 110 (140) (60) 870 (20) Volume / mix Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for definitions and reconciliations. 73 Million USD Capturing market value through disciplined approach
Slide 15 — Capturing market value through
Footer Text 15 Increased basestock margins on supply disruptions Structural cost savings more than offset costs for advantaged growth YTD'26 versus YTD'25: Specialty Products $2,903 YTD'25 GAAP Margin High-value products volume Base volume Middle East volume impacts Structural cost savings Expenses Other YTD'26 GAAP Adjusting items Adjusted earnings (Non-GAAP) 20 80 (70) 750 Volume / mix 1 (30) 11 (140) $2,892 Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for footnotes, definitions, and reconciliations. 120 Million USD Capturing market value through disciplined approach $2,175
Slide 16 — Capturing market value through
Footer Text 16 Lower advantaged volume with accelerated Guyana entitlement and Permian non-operated impacts $7,927 $7,088 1,262 — $7,308 2Q26 GAAP Price Advantaged assets volume Base volume Middle East volume impacts Structural cost savings Expenses Other 3Q26 GAAP 3Q26 versus 2Q26: Upstream Adjusting items Adjusted earnings (Non-GAAP) Adjusting items Adjusted earnings (Non- GAAP) 80 (250) (70) (730) Volume / mix 1 0 Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for footnotes, definitions, and reconciliations. (960) 50 220 $9,189 Million USD Capturing market value through disciplined approach
Slide 17 — Capturing market value through
Footer Text 17 U.S. Gulf Coast crude unit utilization at 100% Second-highest U.S. Gulf Coast diesel volume on record2 Base volumes and expenses favorable due to lower scheduled maintenance, offsetting external impacts 3Q26 versus 2Q26: Energy Products $7,169 4,730 1,884 2Q26 GAAP Margin Advantaged projects volume Base volume Middle East volume impacts Structural cost savings Expenses Other 3Q26 GAAP Adjusting items Adjusted earnings (Non-GAAP) Adjusting items Adjusted earnings (Non- GAAP) 170 160 (80) 1,366 0 0 Volume / mix 1 $9,053 (30) $4,099 GAAP earnings Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for footnotes, definitions, and reconciliations. $5,465 Million USD Capturing market value through disciplined approach
Slide 18 — Capturing market value through
Footer Text 18 Margins declined on higher regional product availability and higher feed costs in Europe and Asia Pacific High-value product volume growth driven by Asia Pacific seasonal demand 3Q26 versus 2Q26: Chemical Products Adjusted earnings (Non-GAAP) Adjusting items $1,131 $725 — $735 2Q26 GAAP Margin High-value products volume Base volume Structural cost savings Expenses Other 3Q26 GAAP Volume / mix (10) 120 70 0 (30) Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for definitions and reconciliations. (640) 83 Adjusting items Adjusted earnings (Non-GAAP) 10 $1,214 Million USD GAAP earnings Capturing market value through disciplined approach
Slide 19 — Capturing market value through
Footer Text 19 Increased basestock margins on supply disruptions Lower high-value products volume due to external impacts 3Q26 versus 2Q26: Specialty Products $956 $1,283 13 2Q26 GAAP Margin High-value products volume Base volume Middle East volume impacts Structural cost savings Expenses Other 3Q26 GAAP 460 (60) (10) (40) Volume / mix 1 (20) 0 (20) 2 $1,285 Adjusted earnings (Non- GAAP) Adjusting items Due to rounding, numbers may not add. Detail of adjusting items can be found on page 32. See supplemental information for footnotes, definitions, and reconciliations. $969 Adjusted earnings (Non-GAAP) Adjusting items Million USD GAAP earnings Capturing market value through disciplined approach
Slide 20 — 4Q26 maintenance outlook
Footer Text 20 230 680 770 590 170 120 170 140 Energy Products Chemical Products Specialty Products Total Product Solutions outlook 4Q25 1Q26 2Q26 3Q26 4Q26 estimate 0 300 600 900 1200 4Q25 1Q26 2Q26 3Q26 4Q26 estimate 0 300 600 Due to rounding, numbers may not add. See supplemental information for footnotes. Upstream scheduled maintenance earnings impact1 Million USD 180 260 Product Solutions scheduled maintenance earnings impact2 Million USD -30 -110 770 1,030 +270 +10 4Q26 maintenance outlook Corporate 260 150 260 290 40 20 30 30
Slide 21 — Adjusting cash capex definition starting in 2027
21 Adjusting cash capex definition starting in 2027 Corporate Transitioning to GAAP definition • Effective 1Q27, Cash Capex will reflect additions to PP&E, in line with the GAAP presentation in the consolidated statement of cash flows — Additional detail on cash inflows and outflows will be available through quarterly and annual statements of cash flow • Management believes this updated view better reflects the underlying capital program by removing the effects of equity company financing decisions and aligning to the GAAP reported basis • As is shown below, on a historical basis this change results in relatively minor differences CASH CAPITAL EXPENDITURES 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Additions to PP&E 5,898 6,283 8,727 7,450 6,470 6,527 7,178 Net investments and advances 60 73 (109) 703 (245) 222 171 Less: Inflows from noncontrolling interests for major projects (22) (23) (23) (20) - - - Less: Advances and collections not related to capital expenditures or equity investments - 270 - (232) (38) 38 (347) Total cash capital expenditures (non-GAAP) 5,936 6,603 8,595 7,901 6,187 6,787 7,002 2027+ Cash capex presentation Current Cash capex presentation
Slide 22 — Learn more about
22 22 For more information, please contact us at [email protected] Learn more about
Slide 23 — Further enhancing disclosures and
Footer Text 23 Earnings sensitivities for upstream, refining, and chemical businesses Platform containing select historical and forward-looking financial and operating data Guide to how to model different ExxonMobil businesses Further enhancing disclosures and increasing transparency What is included? Interactive Analyst Center ‘How to model XOM’ Overview (located in Investors section of our website) Explore our Modeling Toolkit Sensitivities and Key Assumptions
Slide 24 — Sensitivities and Key Assumptions
Footer Text 24 • Full-year Permian production of ~1.8 Moebd • Fifth Guyana FPSO start up in late 4Q • Assume Middle East production impact of ~350 Koebd, in line with 3Q • Product Solutions scheduled maintenance expected to be higher than 3Q26 • Corporate and financing expenses expected to be $500M - $700M • Full-year cash capex within $27B-$29B range Annual Earnings Sensitivities 4Q26 Key Items Other Key Items Marker Annual Sensitivity Upstream Brent ($/bbl) Increase of $1/bbl = +$700M Henry Hub ($/mbtu) Increase of $0.10/mbtu = +$90M TTF ($/mbtu) Increase of $0.10/mbtu= +$20M Upstream earnings sensitivities based on expected 2026 volumes. Brent sensitivity includes oil-linked LNG sales which make up ~10% of sensitivity. TTF primarily represents spot LNG sales. Energy Products Indicative Refining Margin ($/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 = +$250M Asia Pacific LVN Price (AP LVN Price; $/T) Decrease of $50/T = +$300M Chemical Products earnings sensitivities based on polyethylene business drivers and actual benefit or detriment to segment results could be impacted by actual price movements across other products. All sensitivities updated as of December 9, 2025. All sensitivities developed annually for forward-looking analysis and in relation to full-year results. For any given period, the accuracy of the earnings sensitivity will be dependent on the price movements of individual types of crude oil, natural gas, or products, results of trading activities, project start-up timing, maintenance timing, taxes and other government take impacts, price adjustment lags in long-term gas contracts, and crude and gas production volumes. Accordingly, changes in benchmark prices for crude oil and natural gas only provide broad indicators of changes in the earnings experienced in any particular period. Sensitivities are cumulative and not overlapping. 24 3Q26 Annual Actuals and Forward Guidance Actuals 2024 2025 2026 PL 2030 PL Upstream Production (Moebd)1 4.5 4.3 4.7 ~4.9 ~5.5 Permian Production (Moebd) 1.8 1.2 1.6 ~1.8 ~2.5 Energy Products Throughput (Mbd) 3.7 3.9 4.0 - ~3.7 Chemical Product Sales (Mt) 4.9 19.4 21.3 - ~23.0 Specialty Product Sales (Mt) 1.7 7.7 7.8 - ~9.0 Unit earnings (non-GAAP; adjusted earnings)2 (Full-year actuals and forward annual guidance for unit earnings at constant price and margin basis3) Upstream unit earnings ($/oeb) ~$18 ~$10 ~$11 - ~$15 Energy Products unit earnings ($/bbl) ~$26 ~$2 ~$4 - ~$6 Chemical Products unit earnings ($/T) ~$148 ~$215 ~$210 - ~$285 Specialty Products unit earnings ($/T) ~$739 ~$295 ~$305 - ~$460 Share buybacks ($B) $5.1 $19.3 $20.0 ~$20 - Cash capex ($B; non-GAAP) $7.0 $25.6 $29.0 $27-$29 $28-$32 ('27-'30) Structural cost savings ($B; cumulative versus 2019) $16.9 $12.1 $15.1 - ~$20 Sensitivities and Key Assumptions 1 See Upstream Production tables in Modeling Toolkit for additional details. 2 Unit earnings based on adjusted earnings. Unit earnings for 3Q26 actuals reflects actual prices/margins. 3 See Corporate Plan constant price and margin assumptions in Sensitivities and Key Assumption in Modeling Toolkit. See supplemental information for definitions and reconciliations.
Slide 25 — Supplemental information
Footer Text 25 Forward-looking statements contained in this presentation regarding the potential for future earnings, cash flow, shareholder distributions, returns, structural cost savings, cash capital expenditures, and volumes, including statements regarding future earnings power or earnings growth, 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 markets 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 plans 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, cash 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 regulations (including tax, tax incentives, and environmental laws), technology advancements, interest rates, and exchange rates, remain consistent with current conditions for the relevant periods. These assumptions 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 availability of the opportunity set and focused on returns. Non-GAAP and other measures. With respect to historical periods, definitions and reconciliation information is provided on pages 6, 7, 10, 12 to 19, and pages 32 to 41 and in the Frequently Used Terms available under the “Modeling Toolkit” tab on the Investors page of our website at www.exxonmobil.com for certain terms used in this presentation including adjusted earnings; adjusted unit earnings; cash capex; cash opex excluding energy and production taxes; free cash flow; cash flow from operations excluding working capital / other; free cash flow excluding working capital / other; earnings (loss) excluding identified items; earnings growth at constant prices and margins, cash flow growth at constant prices and margins; operating costs; shareholder distributions; structural cost savings; and unit earnings ex. identified items on a constant price / margin basis. 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. Supplemental information
Slide 26 — Supplemental information
Footer Text 26 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 ExxonMobil projections as of the date of this presentation. Unless otherwise specified, crude prices are Brent prices. These are used for clear comparison purposes and 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 are 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) research 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 technology 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 decisions 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 corporate 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 simplicity, words such as venture, joint venture, partnership, co-venturer, operated by others, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships. Competitor data and ExxonMobil data used for comparisons to competitor data are sourced from publicly available information, Bloomberg, S&P, FactSet, Rystad Energy, 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 those same sources and have not been independently verified by ExxonMobil or any third party. We note that certain competitors report financial information under accounting standards other than U.S. GAAP (i.e., IFRS). 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. Supplemental information
Slide 27 — Supplemental information
Footer Text 27 SELECTED EARNINGS DRIVER DEFINITIONS Advantaged volume growth • Represents earnings impacts from change in volume/mix from advantaged assets, advantaged projects, and high-value products. Occasionally, additional granularity is provided to aid investors. For example, Middle East volumes are presented separately in this document. Base volume • Represents and includes all volume/mix drivers not included in advantaged volume growth driver defined above. Occasionally, additional granularity is provided to aid investors. For example, Middle East volumes are presented separately in this document. 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. Estimated timing effects • Represents estimated timing effects, which unwind in subsequent periods, and are primarily related to unsettled derivatives that are required to be marked to current period-end prices (mark-to-market), where the associated physical shipments are not reflected in earnings until the physical transaction is complete. It also includes estimated recognition differences between the settlement of derivatives and their offsetting physical commodity realizations (primarily due to LIFO inventory accounting). Supplemental information
Slide 28 — Supplemental information
Footer Text 28 Supplemental information DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Adjusted earnings/(loss) (non-GAAP) and adjusted earnings/(loss) per common share (non-GAAP) • Earnings/(loss) excluding individually significant non-operational events and estimated timing effects, both favorable and unfavorable. Identified items typically contribute to 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. Adjusted Earnings/(Loss) 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. Estimated timing effects excluded from Adjusted Earnings/ (Loss) are primarily related to unsettled derivatives which are required to be marked to current period-end prices (mark-to-market), where the associated physical shipments are not reflected in earnings until the physical transaction is complete. Estimated timing effects also include estimated recognition differences between the settlement of derivatives and their offsetting physical commodity realizations (primarily due to LIFO inventory accounting). Impacts are expected to unwind in subsequent periods. 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 these views provide investors increased transparency into business results and trends and provide investors with a view of the business as seen through the eyes of management. Adjusted Earnings/ (Loss) are 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 each of corporate earnings and segment earnings are shown on page 32. Adjusted unit earnings (unit earnings) (non-GAAP) • 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. See page 35 for reconciliation. 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 40. Cash flow from operations excluding working capital (non-GAAP) • See reconciliation and definition on page 38. Cash flow from operations excluding working capital/other (non-GAAP) • See reconciliation and definition on page 38.
Slide 29 — Supplemental information
Footer Text 29 DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Cash flow (CFO) growth at constant prices and margins (non-GAAP) • Represents the cash flow growth at constant prices and nominal margins under current plans to 2030 from a 2024 baseline. For clarity, this cash flow from operations excludes identified items and working capital / other. This measure is useful for investors to understand the growth in cash flow that management expects for the corporation, on a normalized price basis, and the company believes it is useful for investors to consider these numbers excluding working capital and other to better evaluate the underlying performance of the company's business. Please see page 37 for a reconciliation of 2024 cash flow growth at constant prices and nominal margins to 2024 GAAP actuals. 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. When applied to forecasted results, it represents the forecasted rate an investment or business result is expected to grow given the investment or business result compound at the same rate each year as calculated at the end of the forecasted period. 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. Earnings (loss) excluding identified items (earnings ex. identified items) • Earnings (loss) excluding identified items 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 in a given quarter may be less than $250 million when the item impacts several periods or several segments. 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 6 and 10. Supplemental information
Slide 30 — Supplemental information
Footer Text 30 DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Earnings growth at constant prices and margins (earnings contribution at constant prices and margins) (non-GAAP) • Represents the earnings growth at constant prices and nominal margins under current plans to 2030 from a 2024 baseline. Earnings growth at constant prices and nominal margins exclude identified items and is adjusted to 2024 $65/bbl real Brent (assumes annual inflation of 2.5%) and 10-year average Energy, Chemical, and Specialty Product margins, which refer to the average of annual margins from 2010-2019. Management believes this measure is useful for investors to understand the growth in earnings projected in our plan for the corporation, on a normalized price basis. Please see page 36 for a reconciliation of 2024 earnings growth at constant prices and nominal margins to 2024 GAAP actuals. 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. Net-debt-to-capital for IOCs is sourced from Bloomberg data. 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. Project • The term “project” 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. 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. Supplemental information
Slide 31 — Supplemental information
Footer Text 31 DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Structural cost savings (structural cost reductions, structural savings, structural cost improvements, cost discipline) • Structural Cost Savings, which describes decreases in cash opex excluding energy and production taxes as a result of operational efficiencies, workforce reductions, divestment-related 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 $16.9 billion, which included an additional $1.8 billion in the first nine months of2026. The total change between periods in expenses above 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 the Corporation's efforts to optimize spending through disciplined expense management. For information concerning the calculation and reconciliation of operating costs see the table on page 41. Structural earnings improvements (structural improvements, growing earnings power, improved earnings power) • Structural earnings improvements consist of efforts to improve earnings on a like-for-like price and margin basis and incorporate improvement efforts by the corporation such as growing advantaged assets, improving mix, and reducing structural costs. Total shareholder return (TSR) • 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 ex. identified items, on constant price / margin basis (non-GAAP) • 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. Earnings excluded identified items are adjusted to 2024 $65 real Brent and 10-year average Energy, Chemical, and Specialty Products margins. Management believes this measure is useful for investors to understand the earnings for our Upstream, Energy Products, Chemical Products, and Specialty Products businesses on a per-oil equivalent barrel, per barrel of throughput, or per metric ton of sales volume, when analyzing our efficiency and profitability relative to historic periods and to competitors. See pages 33 and 34 for reconciliations of historic unit earnings, ex. identified items. Supplemental information
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Footer Text 32 Supplemental information Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. Second Quarter 2026 Upstream Energy Products Chemical Products Specialty Products Corporate & 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) 1.9 6.0 3.0 2.5 0.6 0.5 0.3 0.7 (1.0) 14.5 Identified Items Impairments — — — (0.9) — — — — (0.1) (1.1) Other¹ (1.2) — — (0.2) — — — — — (1.6) Total Identified Items (1.2) — — (1.1) (0.1) — — — (0.2) (2.6) Estimated Timing Effects (Worldwide) (0.1) 2.5 — — — 2.5 Adjusted Earnings/(Loss) (Non-GAAP) 9.2 4.1 1.2 1.0 (0.8) 14.7 ¹ 2Q26 Other Identified Items includes $1,365 million in additions to financial reserves and $194 million in Middle East impacts. YTD 2026 Upstream Energy Products Chemical Products Specialty Products Corporate & 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) 6.7 14.1 8.4 2.9 1.4 0.6 0.9 1.9 (2.9) 34.1 Identified Items Impairments — — — (0.9) (0.0) — — — (0.1) (1.1) Gain/(Loss) on sale of assets 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 Other¹ (1.4) (0.0) (0.0) (1.0) (0.0) (0.0) (0.0) (0.0) (0.0) (2.5) Total Identified Items (0.7) (0.0) (0.0) (1.8) 0.0 (0.0) (0.0) (0.0) (0.2) (2.9) Estimated Timing Effects (Worldwide) (1.3) (2.7) — — — (3.9) Adjusted Earnings/(Loss) (Non-GAAP) 22.8 16.0 2.0 2.9 (2.7) 41.0 ¹ YTD 2026 Other Identified Items includes $1,570 million in additions to financial reserves and $921 million in Middle East impacts. YTD 2025 Upstream Energy Products Chemical Products Specialty Products Corporate & 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) 4.3 13.5 2.0 2.1 0.8 0.2 1.0 1.2 (2.8) 22.3 Identified Items Impairments — — — — — — — — (0.2) (0.2) Restructuring charges — — — — — — — — (0.4) (0.4) Total Identified Items — — — — — — — — (0.5) (0.5) Estimated Timing Effects (Worldwide) 0.3 0.1 — — — 0.4 Adjusted Earnings/(Loss) (Non-GAAP) 17.5 4.0 1.1 2.2 (2.3) 22.5 ADJUSTING ITEMS BY SEGMENT Third Quarter 2026 Upstream Energy Products Chemical Products Specialty Products Corporate & 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) 3.2 3.9 4.8 2.4 0.5 0.3 0.4 0.9 (0.9) 15.4 Identified Items Gain/(Loss) on sale of assets 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 Other¹ (0.2) (0.0) (0.0) 0.0 0.0 (0.0) (0.0) (0.0) (0.0) (0.2) Total Identified Items 0.5 (0.0) (0.0) 0.0 0.0 (0.0) (0.0) (0.0) 0.0 0.4 Estimated Timing Effects (Worldwide) (0.7) (1.9) — — — (2.5) Adjusted Earnings/(Loss) (Non-GAAP) 7.3 9.1 0.7 1.3 (0.9) 17.5
Slide 33 — Supplemental information
Footer Text 33 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. 3 The unit earnings calculation for Energy Products ($/bbl) uses total refinery throughput, which is equal to refinery throughput (Mbd) multiplied by the number of days in the period multiplied by 1,000,000. 4 The unit earnings calculations for Chemical and Specialty Products ($/ton) uses total sales volume, which is equal to Sales Volume (Mt) multiplied by 1,000,000. 5 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. RECONCILIATION OF 2024 UNIT EARNINGS EX. IDENTIFIED ITEMS, ON CONSTANT PRICE / MARGIN BASIS UPSTREAM 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 and adjusted to 2024 $65/bbl Brent and 10-year average Energy, Chemical, and Specialty Products margins (non-GAAP) 15.8 3.2 4.1 2.3 U/S production - Moebd1, 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, on constant price / margin basis - $/oeb, $/bbl, $/ton, $/ton (non-GAAP)2,3,4,5 ~$10 ~$2 ~$215 ~$295
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Footer Text 34 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. 3 The unit earnings calculation for Energy Products ($/bbl) uses total refinery throughput, which is equal to refinery throughput (Mbd) multiplied by the number of days in the period multiplied by 1,000,000. 4 The unit earnings calculations for Chemical and Specialty Products ($/ton) uses total sales volume, which is equal to Sales Volume (Mt) multiplied by 1,000,000. 5 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. RECONCILIATION OF 2025 UNIT EARNINGS EX. IDENTIFIED ITEMS, ON CONSTANT PRICE / MARGIN BASIS UPSTREAM ENERGY PROD CHEMICAL PROD SPECIALTY PROD Earnings (U.S. GAAP) 21.4 7.4 0.8 2.9 Identified items (0.9) 0.5 (0.3) 0.0 Earnings ex. identified items (non-GAAP) 22.2 6.9 1.1 2.9 Adjustments to 2024 $65/bbl real Brent and 10-year average Energy, Chemical, and Specialty Product margins (3.1) (1.5) 3.4 (0.5) Earnings ex. identified items and adjusted to 2024 $65/bbl Brent and 10-year average Energy, Chemical, and Specialty Products margins (non-GAAP) 19.2 5.5 4.5 2.4 U/S production - Moebd1, Energy Products refinery throughput - Mbd, Chemical Products sales - Mt, Specialty Products sales – Mt 4.7 4.0 21.3 7.8 Unit earnings, ex. identified items, on constant price / margin basis - $/oeb, $/bbl, $/ton, $/ton (non-GAAP)2,3,4,5 ~$11 ~$4 ~$210 ~$305
Slide 35 — Supplemental information
Footer Text 35 Supplemental information RECONCILIATION OF 3Q26 UNIT EARNINGS UPSTREAM ENERGY PROD CHEMICAL PROD SPECIALTY PROD Earnings (U.S. GAAP) 7.1 7.2 0.7 1.3 Adjusting items (0.2) (1.9) 0.0 0.0 Adjusted earnings (non-GAAP) 7.3 9.1 0.7 1.3 U/S production - Moebd, Energy Products refinery throughput - Mbd, Chemical Products sales - Mt, Specialty Products sales – Mt 4.5 3.7 4.9 1.7 Adjusted unit earnings - $/oeb, $/bbl, $/ton, $/ton (non-GAAP)1,2,3,4 ~$18 ~$26 ~$148 ~$739 1 The unit earnings calculation for Upstream ($/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. Billions of dollars unless specified otherwise. Due to rounding, numbers may not add.
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Footer Text 36 Supplemental information 1 Identified items in 2024 include asset management, impairments, and Tax / Other items. Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. RECONCILIATION OF 2024 EARNINGS GROWTH AT CONSTANT PRICES AND MARGINS UPSTREAM PRODUCT SOLUTIONS CORP & FIN 2024 ENERGY PROD CHEMICAL PROD SPECIALTY PROD Earnings (U.S. GAAP) 25.4 4.0 2.6 3.1 (1.4) 33.7 Identified items1 0.2 0.1 (0.1) 0.0 0.0 0.2 Earnings ex. Identified Items (non-GAAP) 25.2 4.0 2.7 3.1 (1.4) 33.5 Adjustment to 2024 $65 real Brent and 10-year average Energy, Chemical, and Specialty Products margins (9.4) (0.8) 1.5 (0.8) 0.0 (9.6) Earnings ex. Identified Items and adjusted to 2024 $65 real Brent and 10-year average Energy, Chemical, and Specialty Products margins (non-GAAP) 15.8 3.2 4.1 2.3 (1.4) 24.0 The 2024 reconciliation provides the baseline for measuring future growth at constant prices and margins under the current plan.
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Footer Text 37 Supplemental information 1 Identified items in 2024 include asset management, impairments, and Tax / Other items. Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. RECONCILIATION OF 2024 CASH FLOW (CFO) GROWTH AT CONSTANT PRICES AND MARGINS 2024 Earnings (U.S. GAAP) 33.7 Identified items1 0.2 Earnings ex. identified items (non-GAAP) 33.5 Adjustment to 2024 $65 real Brent and 10-year average Energy, Chemical, and Specialty Products margins (9.6) Earnings ex. identified items and adjusted to 2024 $65 real Brent and 10-year average Energy, Chemical, and Specialty Products margins (non-GAAP) 24.0 Plus depreciation, ex. identified items1 23.0 Cash flow from operating activities, ex. identified items (excluding working capital / other) and adjusted to 2024 $65 real Brent and 10-year average Energy, Chemical, and Specialty Products margins (non-GAAP) 47.0 The 2024 reconciliation provides the baseline for measuring future growth at constant prices and margins under the current plan. For clarity, Cash flow growth at constant prices and margins excludes working capital / other.
Slide 38 — Supplemental information
Footer Text 38 Cash flow from operations excluding working capital / other (non-GAAP) • 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. Supplemental information Millions of dollars unless specified otherwise. Due to rounding, numbers may not add. CASH FLOW FROM OPERATIONS 3Q26 YTD'26 Net income / (loss) including noncontrolling interests 16,022 35,375 Depreciation and depletion (includes impairments) 6,803 22,263 Changes in operational working capital, excluding cash and debt 2,216 (1,641) All other items – net 609 1,913 Cash flow from operations (U.S. GAAP) $25,650 $57,910 Less: Changes in operational working capital, excluding cash and debt (2,216) 1,641 Cash flow from operations excluding working capital (non-GAAP) $23,434 $59,551 Less: All other items – net (609) (1,913) Cash flow from operations excluding working capital / other (non-GAAP) $22,825 $57,638 Cash flow from operations excluding working capital (non-GAAP) • 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.
Slide 39 — Supplemental information
Footer Text 39 Supplemental information Millions of dollars unless specified otherwise. Due to rounding, numbers may not add. Free cash flow (non-GAAP) • 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 3Q26 YTD'26 Net cash provided by operating activities (U.S. GAAP) 25,650 57,910 Additions to property, plant, and equipment (7,178) (20,175) Proceeds from asset sales and returns of investments 808 1,457 Additional investments and advances (868) (1,579) Other investing activities including collection of advances 697 1,431 Inflows from noncontrolling interest for major projects — — Free cash flow (non-GAAP) $19,109 $39,044 Less: Changes in operational working capital, excluding cash and debt (2,216) 1,641 Free cash flow excluding working capital (non-GAAP) $16,893 $40,685 Less: All other items – net (609) (1,913) Free cash flow excluding working capital / other (non-GAAP) $16,284 $38,772 Free cash flow excluding working capital / other (non-GAAP) • 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 excluding working capital / other 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) • 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 excluding working capital is not meant to be viewed in isolation or as a substitute for net cash provided by operating activities.
Slide 40 — Supplemental information
Footer Text 40 Supplemental information 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, and for 2026+ excludes advances and collections not related to capital expenditures or equity investments, for example, supply and marketing related advances and associated collections. The company believes it is a useful measure for investors to understand the cash impact of investments in the business, which is in line with industry practice. CASH CAPITAL EXPENDITURES 3Q26 YTD'26 Additions to property, plant, and equipment 7,178 20,175 Additional investments and advances 868 1,579 Other investing activities including collection of advances (697) (1,431) Inflows from noncontrolling interests for major projects — — Less: Advances and collections not related to capital expenditures or equity investments (347) (347) Total cash capital expenditures (non-GAAP) $7,002 $19,976
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Footer Text 41 Supplemental information Billions of dollars unless specified otherwise. Due to rounding, numbers may not add. CALCULATION OF STRUCTURAL COST SAVINGS 2019 2025 YTD 2025 YTD 2026 Components of operating costs From ExxonMobil’s Consolidated Statement of Income (U.S. GAAP) Production and manufacturing expenses 36.8 42.4 30.3 34.2 Selling, general and administrative expenses 11.4 11.1 8.1 7.8 Depreciation and depletion (includes impairments) 19.0 26.0 18.3 22.3 Exploration expenses, including dry holes 1.3 1.0 0.5 0.4 Non-service pension and postretirement benefit expense 1.2 0.4 0.3 0.1 Subtotal 69.7 81.0 57.4 64.7 ExxonMobil’s share of equity company expenses (Non-GAAP) 9.1 10.6 7.8 6.2 Total adjusted operating costs (non-GAAP) 78.8 91.6 65.3 70.9 Less: Depreciation and depletion (includes impairments) 19.0 26.0 18.3 22.3 Non-service pension and postretirement benefit expense 1.2 0.4 0.3 0.1 Other adjustments (includes equity company depreciation and depletion) 3.6 6.2 3.7 5.7 Total cash operating expenses (cash opex) (non-GAAP) 55.0 59.0 43.0 42.9 Energy and production taxes (Non-GAAP) 11.0 14.9 11.2 9.9 Total cash operating expenses (cash opex) excluding energy and production taxes (non-GAAP) 44.0 44.1 31.8 33.0 vs. 2019 vs. 2025 Cumulative Change: +0.1 +1.2 Market +4.9 +1.2 Activity/Other +10.3 +1.8 Structural Cost Savings -15.1 -1.8 -16.9
Slide 42 — Supplemental information
Footer Text 42 Page 5 1) Based on an as-reported asset basis, leveraging internal data available from 2014. 2) Energy Product constant margin reflects annual historical averages for the 10-year period from 2010-2019. 3) Based on current asset basis. 4) Based on full-year 2019 analysis, pro-rated for three quarters. 5) Turnaround improvement based on comparison to prior cycle turnaround for the same asset. Page 6 1) Middle East impacts include curtailed production, deferred sales, and associated tax impacts. Page 7 1) Includes proceeds from asset sales of $1.5B and advances and collections not related to capital expenditures or equity investments of ($0.3B). 2) Includes PP&E additions of ($20.2B), net investments / advances of $0.1B, inflows from noncontrolling interests for major projects of $0.0B, less advances and collections not related to capital expenditures or equity investments of $0.3B. 3) Net debt to EBITDA ratio refers to ExxonMobil’s latest reported net debt, which is total debt net of cash and cash equivalents, excluding restricted cash, divided by FactSet consensus EBITDA for full- year 2026, as of October 29, 2026. 4) Assuming reasonable market conditions. Page 10 1) Middle East impacts include curtailed production, deferred sales, and associated tax impacts. Page 3 1) Based on an as-reported asset basis, leveraging internal data available from 2014. 2) Based on current asset basis, leveraging internal data available from 2014. 3) Assuming reasonable market conditions. Supplemental information Page 4 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: 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). Data available to 2000.
Slide 43 — Supplemental information
Footer Text 43 Page 11 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. 5) ExxonMobil’s $16.9 billion of structural cost savings since 2019 is more than double the cumulative structural cost savings reported by nearest IOC based on public filings. Page 12 1) Middle East impacts include curtailed production, deferred sales, and associated tax impacts. Page 13 1) Middle East impacts include curtailed production, deferred sales, and associated tax impacts. 2) Based on an as-reported asset basis, leveraging internal data available from 2014. Page 14 1) Based on internal data available to 2018. Page 15 1) Middle East impacts include curtailed production, deferred sales, and associated tax impacts. Supplemental information Page 16 1) Middle East impacts include curtailed production, deferred sales, and associated tax impacts. Page 17 1) Middle East impacts include curtailed production, deferred sales, and associated tax impacts. 2) Based on current asset basis, leveraging internal data available from 2014. Page 19 1) Middle East impacts include curtailed production, deferred sales, and associated tax impacts. Page 20 1) 4Q26 estimate for Upstream based on mid-October forward price estimates. 2) 4Q26 estimate for Product Solutions based on mid-October refining margins, forward estimates, and operating expenses related to turnaround and planned maintenance activities.