Imperial Oil Limited · TSX:IMO
Imperial Oil — Shareholder Meeting (May 2026)
20 slides from Imperial Oil's shareholder meeting presentation, May 4, 2026
Slide 1: 2026 Annual Meeting of Shareholders
2026 Annual Meeting of Shareholders May 4, 2026 Disclaimer: Due to changes to the Competition Act, this archived information is provided solely for historical information and reference purposes. This information does not constitute an active representation of Imperial. Imperial fully disclaims any l
Slide 2: Cautionary statement
Cautionary statement Statements of future events or conditions in this presentation, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Similarly, discussion of roadmaps or future plans related to carbon capture, transportation and storage, bi
Slide 3: Cautionary statement (continued)
Cautionary statement (continued) These factors include global, regional or local changes in supply and demand for oil, natural gas, petroleum and petrochemical products, feedstocks and other market factors, economic conditions and seasonal fluctuations and resulting demand, price, differential and m
Slide 4: Meeting proceedings
Meeting proceedings John Whelan Chairman, president, and chief executive officer Ian Laing Vice-president, general counsel and corporate secretary Peter Shaw Vice-president, investor relations Imperial | 2026 4
Slide 5: Election of directors; Appointment of the auditor
Election of directors Tanya Sharon John Gary Neil Miranda John Bryja Driscoll Floren Goldberg Hansen Hubbs Whelan Appointment of the auditor PricewaterhouseCoopers LLP Imperial | 2026 5
Slide 6: Chairman's remarks
Chairman’s remarks John Whelan Chairman, president, and chief executive officer Imperial | 2026 6
Slide 7: Strong earnings and cash flow
Strong earnings and cash flow Kearl Underpinned by continued operational excellence Returned to Net income Cash from Ops Free Cash Flow¹ shareholders 2025 financial highlights $3.3B $6.7B $4.8B $4.6B Five-year cumulative (2021-2025) $22.8B $32.4B $25.3B $23.6B ¹ Non-GAAP financial measure – see supp
Slide 8: Best-in-class safety performance
Best-in-class safety performance Strathcona Most Responsible Operator in the industry Achieved zero lost-time incidents and no high-consequence process safety events Imperial | 2026 8
Slide 9: Meaningful relationships with Indigenous communities
Meaningful relationships with Indigenous communities Surpassed annual spending goal of $1B with our Indigenous partners and communities Imperial | 2026 9
Slide 10: Delivering execution excellence
Delivering execution excellence Cold Lake Strong results driven by record production and advantaged technology ▪ Highest full-year gross production of 438 koebd in over 30 years › Kearl produced 280 kbd and progressed turnaround interval extension › Cold Lake produced 151 kbd, enabled by strong Gran
Slide 11: Advancing future growth
Advancing future growth Innovating and executing future-focused projects ▪ Start-up of Canada’s largest ▪ Advanced construction of the • Established the Imperial Energy renewable diesel facility at Enhanced Bitumen Recovery Innovation Centre with the Southern Strathcona Technology (EBRT) pilot Alber
Slide 12: Positioning for long-term value
Positioning for long-term value Increasing cash flow and delivering industry-leading shareholder returns ▪ Restructuring plans to leverage rapidly advancing technology and growth of global capability centres ▪ Aligned with strategy to maximize value of our existing assets › Targets efficiency and ef
Slide 13: Strong team, positioned to win
Strathcona Strong team, positioned to win Imperial | 2026 13
Slide 14: Q&A
Q&A Imperial | 2026 14
Slide 15: Scrutineers' report
Scrutineers’ report Ian Laing Vice-president, general counsel and corporate secretary Imperial | 2026 15
Slide 16: Thank you for attending Imperial's annual meeting of shareholders
Thank you for attending Imperial’s annual meeting of shareholders May 4, 2026
Slide 17: Supplemental information: Non-GAAP measures
Supplemental information Non-GAAP measures Listed below are definitions of several of Imperial’s key business and financial performance measures. The definitions are provided to facilitate understanding of the terms and how they are calculated. These measures are not prescribed by U.S. Generally Acc
Slide 18: Supplemental information: Cash operating costs
Supplemental information Cash operating costs (Cash costs) Cash operating costs is a non-GAAP financial measure that consists of total expenses, less purchases of crude oil and products, federal excise taxes and fuel charge, financing, and costs that are non- cash in nature, including depreciation a
Slide 19: Supplemental information: Unit cash operating costs
Supplemental information Unit cash operating costs (Unit cash costs) Unit cash operating costs is a non-GAAP ratio. Unit cash operating costs (unit cash costs) is calculated by dividing cash operating costs by total gross oil-equivalent production, and is calculated for the Upstream segment, as well
Slide 20: Supplemental information: Net income excluding identified items
Supplemental information Net income (loss) excluding identified items Net income (loss) excluding identified items is a non-GAAP financial measure that is total net income (loss) excluding individually significant non-operational events with an absolute corporate total earnings impact of at least $1