Imperial Oil Limited · TSX:IMO
Imperial Oil — Shareholder Meeting (May 2023)
23 slides from Imperial Oil's shareholder meeting presentation, May 2, 2023
Slide 1: Annual Meeting of Shareholders May 2, 2023
Annual Meeting of Shareholders May 2, 2023 Exhibit 99.1
Slide 2: Cautionary statement
Imperial | 2023 2 Cautionary statement Statements of future events or conditions in this report, including projections, goals, expectations, estimates, business plans and descriptions of strategic and emission reduction goals are forward-looking statements. Similarly, emission-reduction pathways are
Slide 3: Meeting proceedings
Imperial | 2023 3 Meeting proceedings Brad Corson Chairman, president and CEO Ian Laing Corporate secretary
Slide 4: Election of directors
Imperial | 2023 4 Election of directors Matthew Crocker David Cornhill Bradley Corson Sharon Driscoll John Floren Gary Goldberg Miranda Hubbs
Slide 5: Appointment of auditor
Imperial | 2023 5 Appointment of auditor PricewaterhouseCoopers LLP
Slide 6: Shareholder proposals
Imperial | 2023 6 Shareholder proposals
Slide 7: Chairman’s remarks
Imperial | 2023 7 Chairman’s remarks Brad Corson Chairman, president and CEO
Slide 8: Strategy delivering results
Imperial | 2023 8 Strategy delivering results Strong operations underpinned record financial results in 2022 Priority on safe and reliable operations, cost efficiencies, and capital discipline Remaining focused on: Maximizing value from existing assets Progressing value-accretive growth op
Slide 9: Record shareholder returns in 2022
Imperial | 2023 9 Record shareholder returns in 2022 28th consecutive year of growth 63% year-on-year growth ~14% shares repurchased 5% NCIB, 2 SIB’s for $4B 48% Total shareholder return $0.9B Dividends $6.4B Share buybacks $/share 40 50 60 70 80 J F M A M J J A S O N D 45% share price app
Slide 10: Key accomplishments
Imperial | 2023 10 Key accomplishments Best-ever second half production at Kearl Five consecutive quarters above 140 KBD at Cold Lake Highest annual production in Syncrude’s history Record refinery utilization Record distillate production Completion of Sarnia Products Pipeline Best-eve
Slide 11: 2022 Upstream performance
Imperial | 2023 11 2022 Upstream performance Continued strong operational performance and foundation for future success 2022 net income $3.6B, cash from operations $5.8B Strong production after challenging first quarter Pipeline of highly accretive investments Focused on industry leading uni
Slide 12: 2022 Downstream and Chemical performance
Imperial | 2023 12 2022 Downstream and Chemical performance Increasing profitability across the value chain 2022 net income $3.8B, cash from operations $4.7B Resilient, reliable performance across the cycle Record refinery utilization and profitability in 2022 Maximizing benefits of fully in
Slide 13: Strathcona renewable diesel
Imperial | 2023 13 Strathcona renewable diesel Building Canada’s largest renewable diesel facility Helping Canada achieve its net zero goals > 1B litres per year of renewable diesel to be produced 3M tonnes per year reduction in transportation emissions* Equivalent to taking 650,000 vehicles off the
Slide 14: Innovation delivers shareholder value
Imperial | 2023 14 Innovation delivers shareholder value Further enhancing Imperial’s advantage with innovative solutions and technologies Advanced recycling Bio feedstock co-processing Sustainable aviation fuelCollaborative product trials Transforming plastic waste into valuable products at scale
Slide 15: Our climate strategy
Imperial | 2023 15 Our climate strategy Leveraging our expertise, integration and technologies Continuing TCFD disclosure with third-party verified GHGs
Slide 16: Imperial climate goals
Imperial | 2023 16 Imperial climate goals Robust planning and emission reduction roadmaps identified Supportive policy environment Technological advancements Investment in innovation Indigenous partnerships
Slide 17: Opportunities in the energy transition
Imperial | 2023 17 Opportunities in the energy transition 20KBD 2050 30% 20KtonnesFLO Approved project to construct largest renewable diesel facility in Canada Announced company-wide goal to achieve net zero (Scope 1 and 2 emissions) in operated assets Imperial’s goal for reducing greenhouse gas int
Slide 18: Capital expenditure forecast
Imperial | 2023 18 Capital expenditure forecast Low sustaining capital, attractive growth investments 0 1 2 2022 2023 2024 2025 2026 2027 Sustaining Growth/GHG Prior outlook Annual capital expenditure1 forecast $B 1Capital and exploration expenditures (or capital expenditures) represent the combined
Slide 19: Capital allocation priorities
Imperial | 2023 19 Capital allocation priorities Committed to returning surplus cash to shareholders 500 750 1,000 0.00 1.00 2.00 2017 2018 2019 2020 2021 2022 2023 Dividend paid Shares outstanding Dividend per share (paid basis) and shares outstanding $ Millions of shares Reliable and growing div
Slide 20: Why Imperial
Imperial | 2023 20 Why Imperial Confidence in the future High quality, long life, low decline upstream assets Continued growth through focus on optimization, debottlenecking Advantaged downstream assets Integrated across value chain Low cost, high return growth Progressing value accretive p
Slide 21: Q&A
Imperial | 2023 21 Q&A
Slide 22: Scrutineers’ report
Imperial | 2023 22 Scrutineers’ report Ian Laing Corporate Secretary
Slide 23: Annual Meeting of Shareholders May 2, 2023
Annual Meeting of Shareholders May 2, 2023