2024 2nd Quarter Earnings

Delivering industry-leading
value by growing advantaged
portfolio

08.02.24
Cautionary statement

FORWARD-LOOKING STATEMENTS. Statements of future events, conditions, expectations, plans, 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 biofuels, hydrogen, ammonia, direct
air capture, and other 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, policy support and timely rule-making 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 capital expenditures and mix, including
allocations of capital to low carbon 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 Upstream
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, 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 biofuels, produce lithium, 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 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 such as the U.S.
Inflation Reduction Act or policies limiting the attractiveness of investments such as European taxes on energy and unequal support for different methods of carbon capture; consumer
preferences including for emission-reduction products and technology; variable impacts of trading activities; the outcome of competitive bidding and project awards; regulatory actions
targeting public companies in the oil and gas industry; the development or changes in local, national, or international laws, regulations, and policies affecting our business including with
respect to the environment, taxes, and trade sanctions; 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; the level, outcome, and timing of exploration and development projects and decisions to invest in future resources; timely completion of
construction projects; war, civil unrest, attacks against the company or industry, and other political or security disturbances; expropriations, seizures, and capacity, insurance or shipping
limitations by foreign governments or international embargoes; opportunities for and regulatory approval of investments or divestments; the outcome of our or competitors’ 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 under the heading “Factors Affecting Future Results” available through 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 slides beginning on page 23.

2
Driving industry-leading results by investing in growing array of
high-return, advantaged opportunities and reducing structural costs
• Pioneer acquisition fundamentally transforms our Upstream portfolio
- Added industry-leading, undeveloped, high-quality unconventional inventory
- Increased portfolio liquid mix to highest level since Exxon and Mobil merger
- Expanded lower cost-of-supply, more flexible short-cycle U.S. production

• Establishing new businesses built on innovative low carbon products and services
- Leveraging proprietary technology to create new high-value products from lower value fuel molecules; entering new markets with
ProxximaTM and developing carbon materials applications
- Signed second CCS agreement with CF Industries, increasing total contracted CO2 offtake up to 5.5 MTA1
- Announced agreement with Air Liquide that enables access to well-located existing hydrogen transportation network
- Signed MOU with SK On to supply up to 100 Kt of MobilTM Lithium for U.S. battery production

• Industry-leading 2Q24 earnings of $9.2 billion driven by advantaged portfolio and strong operational performance
- Record production across heritage Permian, Pioneer, and Guyana
- Grew high-value products by 5% vs. 1Q24 and 10% vs. YTD’23
- On track to achieve incremental ~$5 billion in structural cost efficiencies by 2027 vs. 2023

See page 8 and Supplemental information for footnotes, definitions, and reconciliations. 3
Strong execution of our strategy is delivering industry-leading
performance

GAAP earnings Cash flow from operations Advantaged Upstream growth

$9.2 B
Leading peers; includes
$10.6 B
$15.2 billion cash flow from
38 %
Advantaged asset production
$0.5 billion earnings from operations ex. working capital2 growth vs. 1Q24 driven by record
Pioneer operations1 production in Guyana and Permian

Debt-to-capital Dividends Share buybacks

14 %
Net debt-to-capital 6%3
$4.3 B
Leading peers; second largest
$5.2 B
Leading peers; increased annual
dividend payer in the S&P 5004 pace immediately following
Pioneer transaction5

1Pioneer operations contributed $0.5 billion to consolidated earnings post-close (May-June), which excludes $0.2 billion of one-time items related to the acquisition.
See page 8 and Supplemental information for footnotes, definitions, and reconciliations. 4
Outstanding start to Pioneer integration with record 2Q production
• Closed Pioneer quickly, ~50% faster than similar deals in
recent years1

• Integration and synergy execution exceeding expectations

- Starting to leverage advanced cube development technology to
drive recovery and efficiency
- Integrating heritage Pioneer production with Gulf Coast refining
- Capturing cost efficiencies ahead of plan

• Achieved record production levels

- 792 Koebd in June
- 782 Koebd in second quarter2

• Earnings contribution of $0.5 billion from two months of

operations excluding $0.2 billion of one-time items, primarily
transaction costs
- 522 Koebd contribution to ExxonMobil’s full quarter production
from two months of operations since transaction closed3

See Supplemental information for footnotes and reconciliations. 5

 Driving earnings growth across our businesses
Upstream Product Solutions Corporate
Growing value with industry-leading portfolio; Delivering strategic projects and high-value products Reducing structural costs and improving operations
doubled unit earnings since 20191 volume growth5 Billion USD, cumulative
% advantaged assets of total Upstream production
~$5 B
Billion USD, average margin basis (2010-2019)
(including Pioneer)2

Strategic projects earnings contribution ($B)

>5 >20Mta Additional structural
20

High-value products volume (Mta)

cost savings vs. 2023
Upstream Production (Moebd)

Structural Cost Savings ($B)

4.0 4.1
3.8 3.8 ~$4.7B
~$15
>60%
13.8Mta 15
12.8Mta $10.7
$9.7
49% 11.8Mta
43% 10.7Mta
35% $1.7B
28% $5.3
$1.3B 10
$0.3B
$0.0B $0.0

2019 2021 2023 2024 2027 2019 2021 2023 YTD'24 2027 2019 2021 2023 2024 2027
3 5
YTD Plan Annual. Plan YTD Plan
Advantaged assets Base Earnings contributions from strategic projects Upstream Chemical Products
High-value products volume Energy Products Specialty Products
Upstream unit earnings (excluding Pioneer)
(per oeb; $60/bbl real Brent)4
~$5 ~$7 ~$9 ~$10 ~$13
1 Upstream unit earnings ($/oeb) excludes Pioneer’s contributions.
2 Production adjusted to $60/bbl real Brent. Differences versus actual production include entitlements and other price-linked volume impacts.
3 Estimates for Upstream production combine Pioneer 2027 S-4 estimates and ExxonMobil’s 2027 Plan.

See Supplemental information for footnotes, definitions, and reconciliations. 6

Integrated portfolio enhances resiliency in softer margin environment
• Average crude prices essentially unchanged vs.
Industry prices / margins
1Q24 as market remains relatively balanced
10-year annual range1

• Natural gas prices declined with lower demand

during 2Q24 due to milder weather

• Refining margins weakened during 2Q24 as record

second-quarter demand was more than met by
additional supply

• Chemical margins improved slightly vs. 1Q24 due to

lower feed cost; industry remained at bottom-of-
cycle levels
Crude prices2 Natural gas Refining Chemical
($/bbl) prices3 margins4 margins5
($/mbtu) ($/bbl) ($/tonne)
10-year annual range
YTD’23 YTD’24 1Q24 2Q24
(2010-2019)

See Supplemental information for footnotes.

Natural gas prices for YTD’23 not to scale outside of 10-year annual range. Refining margins for YTD’23 are to scale. 7
 2Q24 vs. 1Q24

Advantaged volume growth and cost savings driving earnings

improvements
U/S EP CP SP C&F TOTAL
1Q24 GAAP Earnings / (Loss) $5.7 $1.4 $0.8 $0.8 ($0.4) $8.2
1Q24 Earnings / (Loss) ex. identified items (non-GAAP) $5.7 $1.4 $0.8 $0.8 ($0.4) $8.2
Price / margin 0.2 (1.1) 0.2 (0.0) - (0.7)
Advantaged volume growth 0.8 (0.0) 0.0 0.0 - 0.9
Base volume (0.0) (0.1) (0.1) (0.0) - (0.3)
Structural cost savings 0.1 0.1 0.0 0.0 - 0.2
Expenses (0.1) 0.0 (0.1) (0.1) - (0.3)
Other 0.3 0.1 (0.0) 0.0 0.1 0.5
Timing effects 0.1 0.6 - - - 0.7
2Q24 Earnings / (Loss) ex. identified items (non-GAAP) $7.1 $0.9 $0.8 $0.8 ($0.3) $9.2
2Q24 GAAP Earnings / (Loss) $7.1 $0.9 $0.8 $0.8 ($0.3) $9.2

Billions of dollars unless specified otherwise.

Due to rounding, numbers may not add.
See Supplemental information for definitions. 8
 YTD‘24 vs. YTD‘23

Structural improvements enabled strong earnings despite softer

market
U/S EP CP SP C&F TOTAL
YTD’23 GAAP Earnings / (Loss) $11.0 $6.5 $1.2 $1.4 ($0.9) $19.3
Additional European taxes on energy sector (0.2) (0.0) - - - (0.2)
YTD’23 Earnings / (Loss) ex. identified items (non-GAAP) $11.2 $6.5 $1.2 $1.4 ($0.9) $19.5
Price / margin 0.6 (2.9) 0.1 0.1 - (2.1)
Advantaged volume growth 1.7 0.1 0.3 0.0 - 2.1
Base volume (0.4) (0.6) 0.1 0.0 - (0.9)
Structural cost savings 0.3 0.3 0.1 0.0 - 0.7
Expenses (0.5) (0.6) (0.1) (0.1) - (1.3)
Other (0.3) 0.0 (0.0) (0.0) 0.2 (0.2)
Timing effects 0.2 (0.6) - - - (0.4)
YTD’24 Earnings / (Loss) ex. identified items (non-GAAP) $12.7 $2.3 $1.6 $1.5 ($0.7) $17.5
YTD’24 GAAP Earnings / (Loss) $12.7 $2.3 $1.6 $1.5 ($0.7) $17.5

Billions of dollars unless specified otherwise.

Due to rounding, numbers may not add.
See Supplemental information for definitions. 9
Upstream

Record volumes from advantaged assets delivering earnings growth

Upstream earnings ex. ident. items

• Higher liquids realizations driven by higher
Million USD crude prices and improved Canada differential
partly offset by lower gas realizations
320
210 $ 12,734 • Strong earnings growth driven by record
1,680 (400) (510)
570 (340) Guyana and Permian volumes, including
$ 11,204 ~$540 million contribution from Pioneer1
- Year-to-date production of 4.1 Moebd, and
year-on-year growth of ~10%

• Base volume lower due to divestments and

curtailments

• Structural cost improvements due to

operational efficiencies and divestments

• Higher expenses, primarily non-cash, driven by

increased depreciation
YTD’23 Price Advantaged Base Structural Expenses Other Timing YTD’24 • Other includes ~$140 million of Pioneer-related
ex. ident. assets volume cost savings effects ex. ident.
items volume items
transaction costs

Volume / mix • Timing effects had a negative $130 million

impact year-to-date compared to a negative
1Pioneer operations earnings contribution to Upstream of $0.5 billion excludes $0.1 billion of one-time items related to the acquisition.
$340 million impact last year
See page 9 and Supplemental information for definitions and reconciliations. 10
Energy Products

Strategic portfolio management and cost savings enabling solid

earnings despite softer market
Energy Products earnings ex. ident. items • Earnings 2x higher vs. YTD’18, a comparable
Million USD market environment, primarily driven by
strategic projects and structural cost savings1
$ 6,505

• Industry margins normalizing from historically

high YTD’23 levels; global demand growth
(2,880) was more than met by additional supply

130 • Beaumont expansion project partially offset

320 lower base volume from divestments and
(650)
(550) 20 higher scheduled maintenance
(570) $ 2,322
• Structural cost savings from divestments and
maintenance efficiencies

• Higher expenses driven by increased

turnaround and planned maintenance activity
YTD’23 Margin Strategic Base Structural Expenses Other Timing YTD’24
ex. ident. projects volume cost savings effects ex. ident. • Timing effects had a negative $350 million
items volume items
YTD’18 earnings of $1,138M impact year-to-date compared to a positive
Volume / mix (reported and ex. ident. items) $220 million impact last year

See page 9 and Supplemental information for footnotes, definitions, and reconciliations. 11
Chemical Products

Performance products increasing profitability despite weak market

Chemical Products earnings ex. ident. items

• Increased North America feed advantage
Million USD and performance chemicals margins more
50 than offset lower year-on-year industry
(150) margins
120 $ 1,564
(20)
260 • High-value product sales growth driven by
$ 1,199
increased demand in North America
100
- Performance chemicals volumes
improved >10% vs. YTD’23

• Higher base volumes from modest

demand improvement and absence of
turnarounds

• Structural cost savings primarily from

operational efficiencies driven by
centralized organizations
YTD’23 Margin High-value Base Structural Expenses Other YTD’24
ex. ident. products volume cost savings ex. ident.
items volume items • Expenses reflect higher growth projects
Volume / mix
spend and maintenance partially offset by
lower turnaround activity

See page 9 and Supplemental information for definitions and reconciliations. 12

Specialty Products

Differentiated products enabling high-margin business with

consistently strong earnings
Specialty Products earnings ex. ident. items
• Continued focus on optimizing feed and
Million USD high-value product sales offset lower
industry basestocks margins
50
20 30
100 $ 1,512
$ 1,445 (80) • Higher sales volume across basestocks and
(50)
finished lubricants
- Record Mobil 1TM sales

• Centralized organizations enabling

structural cost savings

• Expenses primarily reflect new business

development expenses

• Other primarily driven by forex impacts

YTD’23 Margin High-value Base Structural Expenses Other YTD’24
ex. ident. products volume cost savings ex. ident.
items volume items

Volume / mix

See page 9 and Supplemental information for definitions and reconciliations. 13

Consistent capital allocation strategy enhancing shareholder value

Cash flow
• Strong earnings drove $25.2 billion of
Billion USD cash flow from operations; $27.8 billion
1.6 ex-working capital
- Working capital outflow of $2.6 billion
(11.8) driven by second quarter seasonal taxes

• Capex supports high-return projects;

25.2
year-to-date total capex of $12.9 billion
(16.3) includes $0.7 billion from Pioneer

$ 31.6 • Strengthened balance sheet and

$ 26.5 increased shareholder distributions
(3.8) - Debt repayment of ~$4 billion
- Distributed $16.3 billion to shareholders,
$ 15.0 billion
free cash flow1 including $8.1 billion in dividends

YE’23 CFO Asset Cash Shareholder Debt 2Q24

• Expect >$19 billion of buybacks in 2024
cash sales capex2 distributions repayment / cash - Annual buyback pace of $20 billion
other
expected through 2025, assuming
reasonable market conditions

See Supplemental information for footnotes, definitions, and reconciliations. 14

 Forward guidance

Upstream
Upstream Product Solutions
Product Corporate
Corporate

• 3Q24 outlook: ~80 Kbd lower gross • 3Q24 outlook: $200-$300 million • 3Q24 outlook: corporate and
volumes in Guyana due to scheduled earnings impact from tornado-related financing expenses expected to be
work on Liza Phase 1 and Phase 2 outage at Joliet refinery $300-$500 million
FPSOs to enable the Gas-to-Energy
project tie-ins • 3Q24 outlook: lower scheduled • Full year 2024 outlook: total capex,
maintenance for Energy Products; including eight months from Pioneer,
• 3Q24 outlook: full-quarter Pioneer higher scheduled maintenance for expected to be ~$28 billion
DD&A expected to be ~$1.4 billion Chemical Products and Specialty
Products
• Full year 2024 outlook: production,
including eight months from Pioneer,
expected to be ~4.3 Moebd
- Full year 2024 total Permian production
expected to be ~1.2 Moebd

See Supplemental information for definitions. 15

Key takeaways

Benefits of strategy accelerating and driving differentiated

performance
• Delivering value through consistent capital allocation and execution excellence
- Investing in high-return, advantaged projects to sustain long-term cash flow growth
- Pioneer boosting low-cost-of-supply production, earnings, and cash flow – with more to come
- Strategic projects driving high-value products growth – with a slate of new projects coming online next year
- Maintaining strong balance sheet and growing shareholder distributions

• Advancing new businesses built on innovative low-carbon products and services

• Consistently improving earnings power

- Shifting our entire business to higher-value / higher-margin mix
- Driving structural cost efficiencies; on track to achieve incremental ~$5 billion by 2027 vs. 2023

See Supplemental information for definitions and reconciliations. 16

Upcoming disclosures:
2024 Global Outlook to 2050
to be issued late August
Corporate Plan Update & Upstream Spotlight
to be held on December 11th

Q&A 08.02.2024
Upstream

Record volumes from advantaged assets driving profitability

Upstream earnings ex. ident. items • Higher liquids realizations offset lower gas
Million USD realizations
100 $ 7,074
110
340 • Strong quarterly volume growth from
(20) (150)
830 advantaged assets
200
$ 5,660 - Record Guyana gross production of
>630 Kbd
- Record heritage Permian production of
680 Koebd
- Record Permian production of 1.2 Moebd,
including Pioneer

• Other driven by ~$380 million of net

favorable items in 2Q24, primarily related
to divestments and Pioneer transaction

1Q24 Price Advantaged Base Structural Expenses Other Timing 2Q24

ex. ident. assets volume cost savings effects ex. ident. • Timing effects had a negative $20 million
items volume items impact on the quarter compared to a
Volume / mix negative $120 million impact last quarter

See page 8 and Supplemental information for definitions and reconciliations. 18

Energy Products

Resilient earnings despite lower industry margins

Energy Products earnings ex. ident. items • Earnings 2x higher vs. 2Q18, a comparable
Million USD market environment, primarily driven by
strategic projects and structural cost
$ 1,376 reductions1

• Industry margins decreased following 2nd

highest first quarter in the last 10 years
$ 946 - Additional supply increases following heavy
turnaround activity more than met record
(1,090)
second-quarter demand
570
• Lower volume / mix primarily reflects higher
maintenance

60 10 140 • Centralized organizations enabling

(0) (120) structural cost savings

• Other primarily reflects absence of

1Q24 Margin Strategic Base Structural Expenses Other Timing 2Q24
ex. ident. projects volume cost savings effects ex. ident. unfavorable inventory adjustments
items volume items
2Q18 earnings of $459M • Timing effects had a positive $110 million
Volume / mix (reported and ex. ident. items) impact on the quarter compared to a
negative $460 million impact last quarter
See page 8 and Supplemental information for footnotes, definitions, and reconciliations. 19
Chemical Products

Strong realizations on growing performance chemicals sales

Chemical Products earnings ex. ident. items • Margin improvement from lower feed
Million USD costs and strong realizations on high-value
products
40
(120) 30
180 • High-value product sales growth driven by
(100)
$ 785 $ 779 increased demand in North America
(40)

• Lower base volumes from absence of

opportunistic sales in Europe and Asia
from rebalancing Red Sea trade flows;
higher maintenance activity

• Structural cost savings primarily from

operational efficiencies driven by
centralized organizations
1Q24 Margin High-value Base Structural Expenses Other 2Q24
ex. ident. products volume cost savings ex. ident.
items volume items • Higher project and maintenance spend,
Volume / mix partially offset by lower turnaround activity

See page 8 and Supplemental information for definitions and reconciliations. 20

Specialty Products

Portfolio of high-value products consistently delivering strong earnings

Specialty Products earnings ex. ident. items • Continued focus on growing high-value
Million USD product sales

$ 761 10 20 40 $ 751 • Seasonally higher expenses

(10) (20)
(50)
• Other reflects favorable tax impacts

1Q24 Margin High-value Base Structural Expenses Other 2Q24

ex. ident. products volume cost savings ex. ident.
items volume items

Volume / mix

See page 8 and Supplemental information for definitions and reconciliations. 21

 3Q24 maintenance outlook

Upstream scheduled maintenance earnings impact1 Energy Products scheduled maintenance earnings impact2
Million USD Million USD
600 510 900
~730
+200
~580
400 600 -260
~310
~280 ~440
~250 ~230 +60 370 ~345 320
200 300 -350
230
0 0
3Q23 4Q23 1Q24 2Q24 3Q24 est. 3Q23 4Q23 1Q24 2Q24 3Q24 est.

Chemical Products scheduled maintenance earnings impact3 Specialty Products scheduled maintenance earnings impact4
Million USD Million USD
300 60
220
~40 ~40 40
~190 ~200 +50 +10
200 ~170
~150 ~30 ~30
+10 180 30
+0 30
100

0 0
3Q23 4Q23 1Q24 2Q24 3Q24 est. 3Q23 4Q23 1Q24 2Q24 3Q24 est.

See Supplemental information for footnotes. 22

Supplemental information

Forward-looking statements contained in this presentation regarding the potential for future earnings, shareholder distributions, returns, structural cost savings, capital and exploration
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 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, 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 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. This presentation does not
attempt to model all potential future impacts from the acquisition of Pioneer Natural Resources. Greater details on the integration of Pioneer will be provided at our Corporate Plan
Update and Upstream Spotlight in December.
Non-GAAP and other measures. With respect to historical periods, reconciliation information is provided on pages 8 to 9 and 29 to 33 and in the Frequently Used Terms available under
the “Resources” tab on the Investor Relations page of our website at www.exxonmobil.com for certain terms used in this presentation. 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.

23
Supplemental information

Important information and assumptions regarding certain forward-looking statements. For all price point comparisons, unless otherwise indicated, we assume $60/bbl Brent crude prices and $3/mmbtu
Henry Hub gas prices. 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. All crude and natural gas prices for future years are adjusted for inflation from 2022.
Energy, Chemical, and Specialty Product margins reflect annual historical averages for the 10-year period from 2010-2019 unless otherwise stated.
Lower-emission returns are calculated based on current and potential future government policies based on ExxonMobil projections.
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
under various disclosed scenarios.
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 planning
beyond 2030 is based on the Company’s Global 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. Current trends for policy stringency and deployment of lower-emission solutions are not yet on a pathway to achieve net-zero by 2050. As such, the Global Outlook does
not project the degree of required future policy and technology advancement and deployment for the world, or ExxonMobil, to meet net zero by 2050. As future policies and technology advancements
emerge, they will be incorporated into the Outlook, and the Company’s business plans will be updated accordingly. References to projects or opportunities may not reflect investment decisions made by the
corporation or its affiliates. Individual projects or opportunities may advance based on a number of factors, including availability of 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 simplicity, words such as venture, joint venture, partnership, co-venturer,
operated by others, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships.
Competitor data is based on publicly available information and, where estimated or derived, done so on a consistent basis with ExxonMobil data. Future competitor data, unless otherwise noted, is taken
from publicly available statements or disclosures by that competitor and has not been independently verified by ExxonMobil or any third party. We note that certain competitors report financial information
under accounting standards other than U.S. GAAP (i.e., IFRS).
ExxonMobil reported emissions, including reductions and avoidance performance data, are based on a combination of measured and estimated data. Calculations are based on industry standards and best
practices, including guidance from the American Petroleum Institute (API) and Ipieca. Emissions reported are estimates only, and performance data depends on variations in processes and operations, the
availability of sufficient data, the quality of those data and methodology used for measurement and estimation. Emissions data is subject to change as methods, data quality, and technology improvements
occur, and changes to performance data may be updated. Emissions, reductions and avoidance estimates for non-ExxonMobil operated facilities are included in the equity data and similarly may be updated
as changes in the performance data are reported. ExxonMobil’s plans to reduce emissions are good faith efforts based on current relevant data and methodology, which could be changed or refined.
ExxonMobil works to continuously improve its approach to identifying, measuring and addressing emissions. ExxonMobil actively engages with industry, including API and Ipieca, to improve emission factors
and methodologies, including measurements and estimates.
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.
See the Cautionary Statement at the front of this presentation for additional information regarding forward-looking statements.

24
Supplemental information

SELECTED EARNINGS FACTOR DEFINITIONS

Advantaged volume growth. Earnings impact from change in volume/mix from advantaged assets, strategic projects, and high-value products. See Supplemental information for definitions of advantaged
assets, strategic projects, and high-value products.

Base volume. Includes all volume/mix factors not included in advantaged volume growth factor defined above.

Structural cost savings. After-tax earnings effect of structural cost savings, including cash operating expenses related to divestments that were previously included in "volume/mix" factor. See Supplemental
information for the definition and reconciliation of structural cost savings.

Expenses. Includes all expenses otherwise not included in other earnings factors.

Timing effects. Timing effects 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).

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Supplemental information

DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS

Advantaged assets (Advantaged growth projects). Includes Permian (heritage Permian and Pioneer), Guyana, Brazil, and LNG.

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 strategic projects (or volumes from strategic projects). In our Chemical Products and Specialty Products segments refers to volumes other than high-value products volumes.

Capital and exploration expenditures (Capital expenditures, Capex). Represents the combined total of additions at cost to property, plant and equipment, and exploration expenses on a before-tax basis
from the Consolidated Statement of Income. ExxonMobil’s Capex includes its share of similar costs for equity companies. Capex excludes assets acquired in nonmonetary exchanges, the value of ExxonMobil
shares used to acquire assets, and depreciation on the cost of exploration support equipment and facilities recorded to property, plant and equipment when acquired. While ExxonMobil’s management is
responsible for all investments and elements of net income, particular focus is placed on managing the controllable aspects of this group of expenditures.

Cash operating expenses 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.

Earnings (loss) excluding Identified Items (Earnings ex. Ident. Items) (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 slides 8 and 9.

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Supplemental information

DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS

Government mandates (curtailments). Changes to ExxonMobil’s sustainable production levels as a result of production limits or sanctions imposed by governments.

Heritage Permian. Permian basin assets excluding assets acquired as part of the acquisition of Pioneer Natural Resources that closed in May 2024.

High-value products. Includes performance products and lower-emissions fuels.

Industry-leading performance (industry-leading returns, industry-leading financial performance, industry-leading value). Includes our leadership in metrics such as earnings, dividends paid, and share
buybacks versus the IOC Peer Group. Similar terms, such as industry-leading returns or industry-leading value, refer to our leadership versus the IOC Peer Group in metrics such as return on capital employed
and total shareholder return as applicable in the context presented.

IOC Peer Group (IOC Competitors, Industry Peer Group). IOC competitor peer group includes 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). Defined as “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. 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 slide 33.

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” 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 the company. Individual opportunities may advance based on a number of factors, including availability of supportive policy, technology for
cost-effective abatement, and alignment with our partners and other stakeholders. The company may refer to these opportunities as projects in external disclosures at various stages throughout their
progression.

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Supplemental information

DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS

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.

Strategic projects. Includes (i) the following completed projects: Rotterdam Hydrocracker, Corpus Christi Chemical Complex, Baton Rouge Polypropylene, Beaumont Crude Expansion, Baytown Chemical
Expansion, Permian Crude Venture, and the 2022 Baytown advanced recycling facility; and (ii) the following projects still to be completed: Fawley Hydrofiner, China Chemical Complex, Singapore Resid
Upgrade, Strathcona Renewable Diesel, ProxximaTM Venture, USGC Reconfiguration, additional advanced recycling projects under evaluation worldwide, and additional projects in plan yet to be publicly
announced.

Structural cost savings (structural cost reductions, structural savings, structural cost improvements). 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 $10.7 billion, which included an additional $1.0 billion in the first six months of 2024. The total change between periods in expenses will reflect both
structural cost savings and other changes in spend, including market factors, such as inflation and foreign exchange impacts, as well as changes in activity levels and costs associated with new operations,
mergers and acquisitions, new business venture development, and early-stage projects. Estimates of cumulative annual structural savings may be revised depending on whether cost reductions realized in
prior periods are determined to be sustainable compared to 2019 levels. Structural cost savings are stewarded internally to support management’s oversight of spending over time. This measure is useful for
investors to understand our efforts to optimize spending through disciplined expense management. For information concerning the calculation and reconciliation of operating costs see the table on slide 33.

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). Measures the change in value of an investment in common stock over a specified period of time, assuming dividend reinvestment. We calculate shareholder return over a
particular measurement period by: dividing (1) the sum of (a) the cumulative value of dividends received during the measurement period, assuming reinvestment, plus (b) the difference between the stock
price at the end and at the beginning of the measurement period; by (2) the stock price at the beginning of the measurement period. For this purpose, we assume dividends are reinvested in stock at market
prices at approximately the same time actual dividends are paid. Unless stated otherwise, total shareholder return is quoted on an annualized basis.

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 Supplemental information

RECONCILIATION OF UPSTREAM UNIT EARNINGS

UPSTREAM EARNINGS 2019 2021 2023 2Q24 YTD
Earnings (U.S. GAAP) 14.4 15.8 21.3 12.7
Asset management (Announced divestments) (3.7) (0.5) (0.3) 0.0
Impairment 0.0 0.8 2.7 0.0
Tax / Other items (Tax items, Additional European taxes on energy sector) (0.8) 0.3 0.0 0.0
Earnings ex. identified items 10.0 16.3 23.6 12.7
Adjustment to exclude Pioneer’s contribution - - - (0.4)
Earnings ex. identified items, ex. Pioneer 10.0 16.3 23.6 12.3
Adjustment to 2022 $60/bbl real Brent (3.0) (7.3) (10.6) (5.4)
Earnings, ex. identified items, ex. Pioneer and adjusted to 2022 $60/bbl real Brent 7.0 9.1 13.0 6.9
Production ex. Pioneer contribution (Koebd, $60/bbl real Brent)1 3,983 3,750 3,774 3,845
Unit earnings, ex. identified items, ex. Pioneer ($/oeb, adjusted to 2022 $60/bbl real Brent)2 $5 $7 $9 $10

Billions of dollars unless specified otherwise.

Due to rounding, numbers may not add. 29
 Supplemental information

CASH FLOW FROM OPERATIONS EXCLUDING WORKING CAPITAL 2Q24

Net cash provided by operating activities (U.S. GAAP) 10,560
Less: changes in operational working capital, excluding cash and debt 4,616
Cash flow from operations excluding working capital (Non-GAAP) 15,176

Cash flow from operations excluding working capital 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.

CASH CAPITAL EXPENDITURES 2Q24

Additions to property, plant and equipment 6,235
Net investments and advances 314
Total cash capital expenditures 6,549

Cash capital expenditures (Cash Capex). Sum of Additions to property, plant and equipment, Additional investments and advances, and Other investing activities including collection of
advances from the Consolidated Statement of Cash Flows. This measure is useful for investors to understand the current period cash impact of investments in the business.

Millions of dollars unless specified otherwise.

Due to rounding, numbers may not add. 30
 Supplemental information

CASH FLOW FROM OPERATIONS EXCLUDING WORKING CAPITAL YTD 2Q24

Net cash provided by operating activities (U.S. GAAP) 25,224
Less: changes in operational working capital, excluding cash and debt 2,608
Cash flow from operations excluding working capital (Non-GAAP) 27,832

Cash flow from operations excluding working capital 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.

CASH CAPITAL EXPENDITURES YTD 2Q24

Additions to property, plant and equipment 11,309
Net investments and advances 520
Total cash capital expenditures 11,829

Cash capital expenditures (Cash Capex). Sum of Additions to property, plant and equipment, Additional investments and advances, and Other investing activities including collection of
advances from the Consolidated Statement of Cash Flows. This measure is useful for investors to understand the current period cash impact of investments in the business.

Millions of dollars unless specified otherwise.

Due to rounding, numbers may not add. 31
 Supplemental information

FREE CASH FLOW 2Q24

Net cash provided by operating activities (U.S. GAAP) 10,560
Additions to property, plant and equipment (6,235)
Proceeds from asset sales and returns of investments 926
Additional investments and advances (323)
Other investing activities including collection of advances 9
Free cash flow (Non-GAAP) 4,937

FREE CASH FLOW YTD 2Q24

Net cash provided by operating activities (U.S. GAAP) 25,224
Additions to property, plant and equipment (11,309)
Proceeds from asset sales and returns of investments 1,629
Additional investments and advances (744)
Other investing activities including collection of advances 224
Free cash flow (Non-GAAP) 15,024

Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities excluding cash acquired from mergers and acquisitions. 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.

Millions of dollars unless specified otherwise.

Due to rounding, numbers may not add. 32
 Supplemental information

CALCULATION OF STRUCTURAL COST SAVINGS 2019 2023 YTD 2Q23 YTD 2Q24
Components of operating costs
From ExxonMobil’s Consolidated statement of income (U.S. GAAP)
Production and manufacturing expenses 36.8 36.9 18.3 18.9
Selling, general and administrative expenses 11.4 9.9 4.8 5.1
Depreciation and depletion (includes impairments) 19.0 20.6 8.5 10.6
Exploration expenses, including dry holes 1.3 0.8 0.3 0.3
Non-service pension and postretirement benefit expense 1.2 0.7 0.3 0.1
Subtotal 69.7 68.9 32.2 34.9
ExxonMobil’s share of equity company expenses (Non-GAAP) 9.1 10.5 5.0 4.7
Total adjusted operating costs (Non-GAAP) 78.8 79.4 37.2 39.6

Less:
Depreciation and depletion (includes impairments) 19.0 20.6 8.5 10.6
Non-service pension and postretirement benefit expense 1.2 0.7 0.3 0.1
Other adjustments (includes equity company depreciation and depletion) 3.6 3.7 1.5 1.7
Total cash operating expenses (cash opex) (Non-GAAP) 55.0 54.4 26.9 27.2
Energy and production taxes (Non-GAAP) 11.0 14.9 7.5 6.8
Total cash operating expenses (cash opex) excluding energy and production taxes (Non-GAAP) 44.0 39.5 19.4 20.4
vs. 2019 vs. 2023 Cumulative
Change: -4.5 +1.0
Market +3.6 +0.2
Activity/Other +1.6 +1.8
Structural cost savings -9.7 -1.0 -10.7

Billions of dollars unless specified otherwise.

Due to rounding, numbers may not add. 33
 Supplemental information
Slide 3 Slide 5
1) Based on contracts to move up to 5.5 MTA starting in 2025 subject to additional 1) Based on average duration of significant investigations as reported in Dechert Antitrust
investment by ExxonMobil and permitting for carbon capture and storage projects. Merger Investigation Timing Tracker 2023 Annual Report.
2) 782 Koebd in second quarter reflects Pioneer production in April, May, and June 2024
3) Pioneer production for 2Q24 reflects contribution post-close (May-June)
Slide 4
1) Pioneer operations contributed $0.5 billion to consolidated earnings post-close (May-
June), which excludes $0.2 billion of one-time items related to the acquisition. Earnings Slide 6
sourced from Bloomberg for the industry peer group. 2Q24 figures are actuals for 1) Upstream unit earnings ($/oeb) excludes Pioneer’s contributions.
companies that reported results on or before August 1, 2024 or estimated using 2) Production adjusted to $60/bbl real Brent. Differences versus actual production include
Bloomberg consensus as of August 1st. entitlements and other price-linked volume impacts.
2) Cash flow from operations (GAAP) of $10.6 billion. Cash flow from operations excluding 3) Estimates for Upstream production combine Pioneer 2027 S-4 estimates and ExxonMobil’s
working capital (Non-GAAP) of $15.2 billion is net cash provided by operating activities 2027 Plan.
less changes in operational working capital, excluding cash and debt. See page 30 for 4) Earnings exclude identified items and are adjusted to 2022 $60/bbl real Brent. See
reconciliation. reconciliation of unit earnings on page 29.
3) Net debt is total debt of $43.2 billion less $26.5 billion of cash and cash equivalents, 5) Earnings exclude identified items and are adjusted to 10-year average Energy, Chemical, and
excluding restricted cash. Net debt-to-capital ratio is net debt divided by the sum of net Specialty Product margins, which refer to the average of annual margins from 2010-2019.
debt and total equity of $276.3 billion.
4) Refers to total dividends paid in the second quarter. Dividends paid for S&P 500 companies
and the industry peer group are actuals for companies that reported results on or before
August 1, 2024 sourced from Bloomberg or estimated using Bloomberg consensus as of
August 1st.
5) Refers to share buybacks as reported on the statement of cash flows. Share buybacks for
the industry peer group are actuals for companies that reported results on or before
August 1, 2024 sourced from Bloomberg or estimated using Bloomberg consensus as of
August 1st.

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 Supplemental information
Slide 7 Slide 19
1) 10-year range includes 2010-2019, a representative 10-year business cycle which avoids 1) Based on ExxonMobil assessment of historical industry commodity prices and margins
the extreme outliers in both directions that the market experienced in recent years. referencing S&P Global Platts and IHS Markit as well as company estimates and analysis, the
2) Source: S&P Global Platts. second-quarter 2024 industry commodity price environment is comparable to the second-
3) Source: Intercontinental Exchange (ICE). 70%/30% weighting of Henry Hub and TTF price quarter of 2018. General industry commodity price environment may not be a complete
based on the proportion of the reported ICE trade volumes. match for all regions.
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) Slide 22
netted for industry average Opex, energy, and renewable identification numbers (RINS). 1) Estimate based on July prices.
5) Source: IHS Markit, Platts, and company estimates. Overall, chemical margin based on 2) Estimate based on June margins and operating expenses related to turnaround and planned
industry capacity weighting of polyethylene, polypropylene, and paraxylene. Polyethylene maintenance activities.
margin based on industry capacity weighting by region, grouped by feedstock (North 3) Estimate based on operating expenses related to turnaround and planned maintenance
America + Middle East, Europe, Asia Pacific). Polypropylene margin based on industry activities.
capacity weighting by region, grouped by feedstock (North America, Europe, Asia Pacific + 4) Estimate based on operating expenses related to turnaround and planned maintenance
Middle East). activities.

Slide 11 Slide 29
1) Based on ExxonMobil assessment of historical industry commodity prices and margins 1) Production adjusted to $60/bbl real Brent. Differences versus actual production include
referencing S&P Global Platts and IHS Markit as well as company estimates and analysis, entitlements and other price-linked volume impacts.
the first half 2024 industry commodity price environment is comparable to the first half of 2) The unit earnings calculation uses total production, which is equal to Production (Koebd,
2018. General industry commodity price environment may not be a complete match for all $60/bbl real Brent) multiplied by the number of days in the period multiplied by 1,000.
regions.

Slide 14
1) Free cash flow definition was updated to exclude cash acquired from mergers and
acquisitions which is shown as a separate investing line item in the statement of cash
flows. See page 32 for the definition and reconciliation.
2) Includes PP&E additions of ($11.3) billion and net investments / advances of ($0.5) billion.

35