Exxon Mobil Corporation · NYSE:XOM
Exxon Mobil — Proxy Contest (March 2021)
28 slides from Exxon Mobil's proxy contest presentation, Mar 31, 2021
Slide 1: Global Employee Forum
The following communication was used in a global employee forum. Global Employee Forum 1The following communication was used in a global employee forum. Global Employee Forum 1
Slide 2: Cautionary statement
Cautionary statement FORWARD‐LOOKING STATEMENTS. Outlooks; projections; goals; estimates; discussions of earnings, cash flow, margins, and resource potential; descriptions of strategic plans and objectives; planned capital and cash operating expense reductions and the ability to meet or exceed annou
Slide 3: 2020 Perspective
2020 Perspective Best‐ever performance in 2020 Improved structural costs Paced capital plan Achieved 2020 emission‐reduction goals Announced new 2025 plans Met key milestones across businesses 32020 Perspective Best‐ever performance in 2020 Improved structural costs Paced capital plan Achieved 2020
Slide 4: Providing essential products to support modern life
Providing essential products to support modern life. 4Providing essential products to support modern life. 4
Slide 5: IPCC oil & gas demand driven by economic growth
IPCC oil & gas demand driven by economic growth GLOBAL ENERGY DEMAND IN IPCC LOWER 2°C SCENARIOS Wind Fuel Other 21% Solar 20% Industrial Bioenergy Feed 13% 22% Power Other Generation 24% Coal Commercial Transport Natural gas Oil oil & natural gas integral demand for oil and natural gas driven by IP
Slide 6: Oil & gas investment needed to meet demand
Oil & gas investment needed to meet demand GLOBAL OIL SUPPLY AND DEMAND Mbd 120 High demand t IEA STEPS demand t Average 80 demand based on IPCC Lower 2°C scenarios New supply required oil & gas investment needed by 1 40 2040 in 2⁰C Low demand Decline without investment: ~7% per year 0 2019 2040 Sou
Slide 7: Upstream investments generate >10% returns
Upstream 1 investments generate >10% returns <$35/bbl resource supports >20% return projects resource supports ~700 Koebd net by 2025 portfolio with low cost‐of‐supply developments See Supplemental Information for footnotes and definitions. 7Upstream 1 investments generate >10% returns <$35/bbl reso
Slide 8: Downstream
Downstream lubricants earnings in 2020 improvement in fuels net cash margin mainly 1 driven by conversion projects projects online; 4 progressing annual earnings potential by 2025 in key growth markets 8 See Supplemental Information for footnotes and definitions.Downstream lubricants earnings in 202
Slide 9: Chemical
Chemical industry‐leading 2020 earnings, and nearly 1 double 10‐year industry average high‐value performance products by 2027 from advantaged projects and product innovation new products since 2010 leveraging proprietary technology See Supplemental Information for footnotes and definitions. 9Chemica
Slide 10: Growing value across our businesses
Growing value across our businesses. 10Growing value across our businesses. 10
Slide 11: Working toward a lower-carbon future
Working toward a lower‐carbon future. 11Working toward a lower‐carbon future. 11
Slide 12: Reducing emissions consistent with goals of Paris Agreement
Reducing emissions consistent with goals of Paris Agreement 1,2,3 EXXONMOBIL AND SOCIETY’S EMISSIONS Percent reduction versus 2016 1 Society’s emissions 0.9 Paris submissions (estimated 2016 Nationally Determined Contributions) 0% 0.8 ExxonMobil GHG emissions 0.7 ‐25% 0.6 0.5 ‐50% 0.4 0.3 ‐75% 0.2 0
Slide 13: Reducing emissions requires innovation
Reducing emissions requires innovation POWER GENERATION TRANSPORTATION INDUSTRIAL Need: 24/7 on‐demand electricity Need: rapid refueling of energy‐dense fuels Need: fuel for high‐temperature processes Electricity Oil and Bioenergy Gas Wind Electricity Coal Oil and Other Gas IPCC IPCC IPCC 2040 2040
Slide 14: Advancing low-carbon technologies
Advancing low-carbon technologies Controlled Freeze LaBarge Zone™ Gorgon expansion commercial demonstration Low Carbon Solutions LaBarge created Qatar Qatar expansion CCS Low-emission LaBarge Sleipner Venture Fuels Venture plant offshore field created created COMMERCIALIZATION 1986 2000 2010 2020 R&
Slide 15: Significant potential in Carbon Capture
Significant potential in Carbon Capture 1 TOTAL CO₂ CAPTURE Million tonnes 2 5,000 − #1 in world for CO capture; 9 Mta capacity 2 3 − #2 in world for CO pipelines 2 projected 4 4,000 − #2 in world for CO geologic storage 2 growth per year 3,000 − Subsurface & reservoir expertise 2,000 − Project deve
Slide 16: Growing public recognition
Growing public recognition 16Growing public recognition 16
Slide 17: Growing market support for CCS deployment
Growing market support for CCS deployment global emissions (2017) funding (2013‐2019) Industrial & Power Generation $20 billion annually “Climate Tech” Global policy support Carbon offsets market venture funding Source: Emissions from ExxonMobil 2019 Outlook for Energy. Venture funding based on Exxo
Slide 18: Significant value in growing markets
Significant value in growing markets Total Addressable Production Manufacturing Markets / Sectors 1 Market: 2040 Fuels ~$6T Transport Power gen Industrial Biofuels ~$400B Transport Hydrogen ~$1T 3 Oil and Natural gas Transport Power gen Industrial 48% of energy mix 5-7% depletion per year Chemicals
Slide 19: Leverage expertise and leadership in low-carbon tech
Leverage Expertise and leadership in low‐carbon tech Advance Technologies for a lower‐carbon future Low Carbon Solutions Advocate New regulatory and legal frameworks Commercialize New opportunities at scale 19Leverage Expertise and leadership in low‐carbon tech Advance Technologies for a lower‐carbo
Slide 20: Leverage competitive advantages
Leverage Competitive advantages Innovate Lowest cost, highest value solutions Long‐term Value Advance Growth in global prosperity Embrace We Are ExxonMobil 20Leverage Competitive advantages Innovate Lowest cost, highest value solutions Long‐term Value Advance Growth in global prosperity Embrace We A
Slide 21: ExxonMobil
ExxonMobil
Slide 22: Supplemental Information: forward-looking statements
SUPPLEMENTAL INFORMATION IMPORTANT INFORMATION AND ASSUMPTIONS REGARDING CERTAIN FORWARD‐LOOKING STATEMENTS. Forward‐looking statements contained in this presentation regarding the potential for future earnings, cash flow, margins, returns, rate of return, addressable markets, operating cash flow, c
Slide 23: Supplemental Information: Non-GAAP and other measures
SUPPLEMENTAL INFORMATION NON‐GAAP AND OTHER MEASURES. With respect to historical periods, reconciliation information is provided in the Frequently Used Terms available on the Investor page of our website at www.exxonmobil.com under the heading News & Resources for certain terms used in this presenta
Slide 24: Supplemental Information: Definitions, continued
SUPPLEMENTAL INFORMATION DEFINITIONS AND NON‐GAAP FINANCIAL MEASURE RECONCILIATIONS, CONTINUED Lower 2°C scenarios. The Intergovernmental Panel on Climate Change (IPCC) published a Special Report on “Global Warming of 1.5°C” and identified 74 scenarios as “Lower 2ºC,” which are pathways limiting pea
Slide 25: Supplemental Information: Other information
SUPPLEMENTAL INFORMATION OTHER INFORMATION. All references to production rates, project capacity, resource size, and acreage are on a gross basis, unless otherwise noted. This presentation includes a number of third party scenarios such as the 74 Lower 2°C scenarios, made available through the IPCC
Slide 26: Supplemental Information: footnotes
SUPPLEMENTAL INFORMATION Slide 6 1) IEA World Energy Outlook 2020 Annex A.5, investment data. Slide 12 1) Global CO emissions: Global Carbon Budget 2020; Friedlingstein et al (2020); 2 Slide 7 including energy‐related and cement processing CO emissions. 2 1) Includes projects that bring on new volum
Slide 27: Supplemental Information: footnotes
SUPPLEMENTAL INFORMATION Slide 15 1) $2 trillion addressable market and projected growth: ExxonMobil analysis of IPCC SR 1.5 scenario explorer data on Lower 2°C scenarios. For CO , volumes and prices in 2 2020 and 2040 in the Lower 2°C scenarios were used, where available, to calculate an estimate o
Slide 28: Important additional information regarding proxy solicitation
Important additional information regarding proxy solicitation Exxon Mobil Corporation (“ExxonMobil”) has filed a definitive proxy statement and form of associated BLUE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for ExxonMobi