Exxon Mobil Corporation · NYSE:XOM
Exxon Mobil — Investor Day (March 2006)
84 slides from Exxon Mobil's investor day presentation, Mar 14, 2006
Slide 1: Analyst Meeting New York March 8, 2006
Analyst Meeting New York March 8, 2006 Exhibit 99.2 Analyst Meeting New York March 8, 2006
Slide 2: Cautionary Statement
Cautionary Statement Forward-Looking Statements. Outlooks, projections, estimates, targets, and business plans in this presentation or the subsequent discussion period are forward-looking statements. Actual future results, including demand growth and mix; ExxonMobil’s own production growth and mix;
Slide 3: 2005 – Record Results
• Industry-leading safety performance • Record financial performance – Net Income $36.1 B – ROCE 31 % – Cash flow from Operations and Asset Sales $54.2 B • Cash Returned to Shareholders $23.2 B • Capex $17.7 B 2005 – Record Results
Slide 4: Normalized Earnings
Normalized Earnings $B • Superior results in all business lines • Industry-leading results across the cycle • Capitalizing on competitive advantages Chemical Downstream Upstream Net Income 2005 – Record Results '01 '02 '03 '04 '05
Slide 5: Proven Long-Term Approach
Disciplined Investment Operational Excellence Industry Leading Returns Superior Cash Flow Growth in Shareholder Value Proven Long-Term Approach
Slide 6: Investing for the Future
Investing for the Future Capex by Business Line $B Chemical / Other Downstream Upstream Disciplined Investment North America Geographic Capex Distribution $B, avg. 2001-2005 Europe Africa Asia Pacific/ Middle East Russia/Caspian Other '01 '02 '03 '04 '05
Slide 7: Investing for the Future
Investing for the Future Chemical / Other Downstream Upstream Planning Range (Total) Disciplined Investment Estimate Estimate $B Capex by Business Line $B '01 '02 '03 '04 '05 '06 '07-'10 Average
Slide 8: Technology Leadership
Technology Leadership Disciplined Investment * Based on public information • Consistent, long-term approach to technology investment • Focus on proprietary research leads to competitive advantage • Balance between breakthrough and extension of existing advantages • Technology process managed to maxi
Slide 9: Effective Asset Management
• Rigorous management process • Maximize shareholder value • Cash flow total of $13.6 billion over the past five years • Cumulative earnings impact of $4.6 billion since 2001 Chemical Downstream Upstream Coal & Minerals Asset Divestments, 2001-2005 $B Effective Asset Management Disciplined Investmen
Slide 10: Safety Leadership
Employee Contractor Lost Time Incident Rate Incidents per 200k hours U. S. Petroleum Industry Benchmark* Safety Leadership Operational Excellence * 2005 Industry data not available 0.0 0.1 0.2 0.3 0.4 0.5 '01 '02 '03 '04 '05
Slide 11: Global Functional Organization
• Common standards and culture • Integrated, global processes and systems • Flawless execution • One team, multiple resources • Continuous improvement, rapid deployment of technology and best practices Global Functional Organization Operational Excellence
Slide 12: Support Services Example
Consolidate into Low Cost Locations Global Organization Common / Global Processes Standard / Global IT Systems Support Services Example Operational Excellence Inflation Efficiencies Growth/ Other Support Services Costs $B, FX adjusted 5.1 0.6 0.2 (1.5) 4.4 Standardized / Optimized Common Business Sy
Slide 13: Cash Operating Costs
Cash Operating Costs $B • More than $1 billion in cost efficiencies in 2005 • Another $1 billion expected in 2006 • More than offsetting inflation • Significant productivity improvements Inflation Cost Control and Productivity Operational Excellence Workforce Cash Operating Costs at ‘05 Forex & Ener
Slide 14: Delivering Superior ROCE
Delivering Superior ROCE Industry-Leading Returns ** Calculated from public information on a before-tax basis and converted to after-tax using average corporate tax rate RDS BP CVX XOM Return on Capital Employed* 5-Year Rolling Average % * Competitor data estimated using a consistent basis with Exxo
Slide 15: Cash Flow from Operating Activities
Cash Flow from Operating Activities* $B Superior Cash Flow Superior Cash Flow • Record cash from operations - Over $48 billion in 2005 - Average $32 billion per year from 2001 to 2005 • Capturing the upside * Excludes asset sales ** CVX 2005 cash from operations estimated based on reported earnings
Slide 16: Capturing More Upside
1 Capturing More Upside XOM RDS BP CVX** Indexed Cash Flow from Operating Activities* % of 2001 cash from operations Superior Cash Flow • Capturing more of the upside than competition • Strong performance across all business lines • Long-term approach appropriate in cyclical business * Excludes asse
Slide 17: Dividends
Dividends '00 '01 '02 '03 '04 '05 Superior Distributions Dividends Share Purchases* * In excess of dilution • Distributed $79 billion since • Paid dividends for more than 100 years • Increased annual dividend payment each of the last 23 years • Annual dividend increased 9% per year over last 3 years
Slide 18: Share Buyback Program
'00 '01 '02 '03 '04 '05 Share Buyback Program XOM RDS BP CVX** Growth in Shareholder Value Shares Reduced via Buybacks* % 2000 shares outstanding Buyback Contribution to EPS $/share * Period end shares outstanding based upon publicly available data ** CVX not shown past 2004 because of Unocal acquis
Slide 19: Increasing Value per Share
• Shares outstanding reduced by 12% • Market cap increased by 26% • Share price increased by 43% Growth Since Share Buyback Inception Indexed Growth Increasing Value per Share Growth in Shareholder Value Market cap growth Value of buyback program Stock price growth Shares outstanding '00 '01 '02 '03
Slide 20: Corporate Summary
Corporate Summary • 2005 record year • Long-term approach delivering superior results • Building on our advantages • Delivering rapid sustainable business improvements Disciplined Investment Operational Excellence Industry Leading Returns Superior Cash Flow Growth in Shareholder Value
Slide 21: Upstream Overview
Upstream Overview Analyst Meeting March 8, 2006
Slide 22: 2005 Highlights
2005 Highlights • Record earnings $24.3 B • ROCE 46 % • Production volumes 4.1 MOEBD • Resource adds 4.4 BOEB • Proved reserves adds 1.7 BOEB • Capex $14.5 B Upstream
Slide 23: Upstream Strategies
Upstream Strategies • Identify and pursue all attractive exploration opportunities • Invest in projects that deliver superior returns • Maximize profitability of existing oil and gas production • Capitalize on growing natural gas and power markets Upstream
Slide 24: Business Approach
Business Approach Upstream Operational Excellence Disciplined Investment Industry Leading Returns Superior Cash Flow Growth in Shareholder Value Large, High-Quality Resource Base Attractive Project Portfolio Superior Project Management Maximum Value from Production Assets Proprietary Technology Deve
Slide 25: Superior Size and Quality
Superior Size and Quality Resource Type Upstream: Large, High-Quality Resource Base LNG Tight Gas Conventional Deepwater Arctic Heavy Oil Acid/Sour Gas Total Resource Base Americas Europe Russia/Caspian Africa BOEB Asia Pacific/ Middle East BOEB YE '05
Slide 26: Quality Heavy Oil Resources – Kearl
Kearl Fort Hills Joslyn Horizon Kearl Fort Hills Joslyn Horizon Quality Heavy Oil Resources – Kearl Resource Quality BOEB Total Volume: Bitumen-in-place Resource Size Horizon Fort Hills Upstream: Large, High-Quality Resource Base Joslyn XOM Competitors
Slide 27: Adding to the Resource Base
Brazil Norway Angola Nigeria Chad U.K. Kazakhstan Qatar Australia Canada United States 0.0 0.2 0.4 0.6 0.8 '01 '02 '03 '04 '05 5 Yr '01 '02 '03 '04 '05 5 Yr Adding to the Resource Base Annual Resource Additions Average Annual Finding and Resource Acquisition Costs BOEB $/OEB 2005 Resource Adds Upstr
Slide 28: Adding to the Resource Base – 2006/07 Exploration
Adding to the Resource Base – 2006/07 Exploration Upstream: Large, High-Quality Resource Base Madagascar- Majunga Block Canada-Orphan Basin Norway-Kogge Kazakhstan- Ansagan U.S.-Blackbeard Colombia-Tayrona Block
Slide 29: Industry-Leading Reserves
'01 '02 '03 '04 '05 Industry-Leading Reserves % XOM Proved Reserves Replacement Upstream: Large, High-Quality Resource Base XOM YE’05 Proved Reserves by Region Americas Europe Asia Pacific/ Middle East Africa Russia/Caspian (Including asset sales, excluding YE pricing) BOEB Yrs Remaining 14.5 12.3 9
Slide 30: 2005 Major Project Start-Ups
2005 Major Project Start-Ups Upstream: Attractive Project Portfolio Kizomba B Azeri-Chirag-Gunashli Phase 1 Bonga Kristin RasGas Train 4 Sakhalin-1 Phase 1 Arthur Al Khaleej Gas Phase 1 Year Cumulative Start-Ups
Slide 31: 2006 Major Project Start-Ups
2006 Major Project Start-Ups Upstream: Attractive Project Portfolio Dalia Erha & Erha North Fram East Syncrude Upgrader Expansion Guntong Hub Thunder Horse East Area Additional Oil Recovery Year Cumulative Start-Ups Azeri-Chirag-Gunashli Phase 2
Slide 32: 2007/2008 Major Project Start-Ups
2007/2008 Major Project Start-Ups Upstream: Attractive Project Portfolio Year Cumulative Start-Ups Qatargas II Train 4 Kizomba C East Area Natural Gas Liquids PBU Western Region Dev. (Orion) RasGas Train 6 Rosa Area Tengiz Phase 1 RasGas Train 5 Volve Statfjord Late Life Ormen Lange Piceance Tight G
Slide 33: 2009+ Major Project Start-Ups
2009+ Major Project Start-Ups Upstream: Attractive Project Portfolio Skarv/Idun Tyrihans Tempa Rossa Hebron Alaska Gas Project/ Point Thomson Mackenzie Gas Project Kearl Phase 1 Kearl (Future Phases) Piceance Tight Gas Phase 2 Kashagan Phase 1 Kashagan (Future Phases) Tengiz Expansion Al Khaleej Gas
Slide 34: Strong Project Inventory
Strong Project Inventory # of Projects Planning Designing Implementing Start-up Upstream: Attractive Project Portfolio Project Phase • Inventory develops 26 BOEB (net) • Designing, implementing, and start-up projects 50% increase in number of projects since 2001 Average development cost of $3/OEB gr
Slide 35: Adding Quality Extended-Plateau Capacity
17 Adding Quality Extended-Plateau Capacity Upstream: Attractive Project Portfolio • Over 2 MOEBD capacity to be added by 2015 • 65% of new capacity from extended-plateau flowstreams MOEBD-Net 2.5 2.0 1.5 1.0 0.5 Extended- Plateau Flowstreams T 2005-2015 Major Project Start-Ups Conventional Decline
Slide 36: Leading Industry in Large Project Execution
Leading Industry in Large Project Execution * RDS, BP, CVX Upstream: Superior Project Management Operated Projects > $1 Billion, Start-Up 2005-2008 $/OEB Cost Growth (since 1Q 2005) % Development Cost XOM Competitors* XOM Competitors* Sources: Wood Mackenzie, public information and project owner dat
Slide 37: Execution Excellence - Deepwater Angola
Execution Excellence - Deepwater Angola • Design One, Build Multiple • Established new worldwide benchmark for cycle time • Achieved production rates at or above expectations • Utilized tension leg platforms for cost effective well intervention • Developing Kizomba C Upstream: Superior Project Manag
Slide 38: Execution Excellence - Sakhalin
Execution Excellence - Sakhalin 1 • Phased approach • World-class extended-reach drilling performance • On-schedule start-up in October 2005 • Onshore production facility start-up YE 2006 Upstream: Superior Project Management XOM Competitors Extended-Reach Wells Rate (feet/day) Vertical Depth (K fee
Slide 39: Execution Excellence - Qatar LNG
RasGas 1-2 RasGas 3 Qatargas 1-3 RasGas 4 '03 '04 '05 '06 '07 '08 '09 '10 Execution Excellence - Qatar LNG MTA-Gross LNG Train Capacity Growth Conventional LNG Large LNG Larger Trains Larger Ships Terminal % Upstream: Superior Project Management LNG from XOM-Interest Trains RasGas 5 RasGas 6 Qatarga
Slide 40: Pursuing Gas and Power Opportunities
Pursuing Gas and Power Opportunities Qatar Gorgon/ Jansz PNG Mackenzie Alaska Sakhalin-1 Hong Kong Upstream Natuna Power LNG Pipeline-Gas LNG Terminals Gas-To-Liquids Angola Nigeria U.K. Italy U.S. Gulf Coast
Slide 41: Industry-Leading Earnings per Barrel
* Competitor data estimated using a consistent basis with ExxonMobil, and based on public information Industry-Leading Earnings per Barrel $/OEB 2001-2005 Earnings per Barrel* Upstream: Maximum Value from Production Assets Capturing Value Across the Cycle XOM Normalized Earnings per Barrel, prior 24
Slide 42: 2001-2005 Non-Project Drilling
2001-2005 Non-Project Drilling* MOEBD-Net Improving Recovery with Quality Drilling Programs • 43 rigs operating • $2.2B investment • 160 KOEBD first-year production • Revisions/improved recovery reserve adds of 500 MOEB Upstream: Maximum Value from Production Assets * Cumulative production contribut
Slide 43: Enhancing Recovery with Technology
Light Oil Heavy Oil Enhancing Recovery with Technology Industry EOR Projects XOM Participation XOM Participation • Systematic approach to EOR evaluation • Industry leader in EOR technology and experience • Proprietary next-generation reservoir simulator – EM Power Significant 2005 Production Under e
Slide 44: Capturing Value with Divestments
Capturing Value with Divestments • Approximately 2% of YE 2005 production/reserves sold • Lower profitability, limited potential assets • Capitalized on strong market - $4.6 B cash - $0.8 B earnings Total Expenses Field Life (R/P) Production Proved Reserves $/OEB Years 2001-2005 Asset Sales Average
Slide 45: ExonMobi
ExonMobi
Slide 46: Slide 46
Slide 47: Integrating Best-In-Class Technologies
0 50 100 150 1970 1980 1990 2000 2010 2020 2030 Developed Capacity History/Prediction Reservoir simulation Geologic modeling Visualization Integrating Best-In-Class Technologies Upstream: Proprietary Technology Basin modeling Seismic imaging & processing Commercializing the Resource Maximizing Ultim
Slide 48: Delivering Profitable Capacity Growth
Americas Asia Pacific/ Middle East Africa '05 '06 '07 '08 '09 '10 Delivering Profitable Capacity Growth • Result of robust inventory and strong processes • Geographically diverse • Enabled by functional expertise, integrated and leveraged worldwide • Delivering on our strategies Upstream: Summary MO
Slide 49: Industry-Leading Performance
Industry-Leading Performance % 2001-2005 Return on Average Capital Employed* • Large, high-quality resource base • Attractive project portfolio • Superior project management • Maximum value from production assets • Proprietary technology Upstream: Summary * Competitor data estimated using a consiste
Slide 50: Downstream Overview
Downstream Overview Analyst Meeting March 8, 2006
Slide 51: 2005 Highlights
Refining & Supply Lubes Marketing Fuels Marketing • Record financial performance - Earnings $8 B - ROCE 32 % - Refinery throughput 5.7 MBD - Petroleum product sales 8.3 MBD • Operational excellence continues - Safety and environmental - Reliability - Energy efficiency • Strategic initiatives deliver
Slide 52: Business Strategies
Business Strategies • Maintain best-in-class operations, in all respects • Provide quality, valued products and services to customers • Lead industry in efficiency and effectiveness • Capitalize on integration with other ExxonMobil businesses • Selectively invest for resilient, advantaged returns •
Slide 53: Business Approach
Business Approach Downstream Operational Excellence Disciplined Investment Industry Leading Returns Superior Cash Flow Growth in Shareholder Value Asset Utilization Project Execution Raw Material Flexibility Structural Advantages Operating Efficiencies Global Scale & Integration Margin Enhancement T
Slide 54: Global Scale and Integration
Americas 16 Refineries Europe/AME 18 Refineries Asia-Pacific 11 Refineries • Largest global refiner • Largest global supplier & marketer of petroleum products • Largest manufacturer & marketer of lube basestocks • Largest global producer of polyolefins, benzene & paraxylene Global Scale and Integrat
Slide 55: Refining Structural Advantages
Average Refinery Size % KBD Source: Equity capacity calculated on consistent basis using public information Integration with Chemicals or Lubes Capacity and Geographic Mix MBD Refining Structural Advantages Downstream XOM BP RDS Industry XOM RDS BP Industry XOM RDS BP Americas EAME AP
Slide 56: Fuels Marketing Structural Advantages
Fuels Marketing Structural Advantages Global Fuel Sales Downstream • Largest supplier & marketer of petroleum products • Leveraging integration with refining • Broad spectrum of customer channels • Product placement for highest value I&W Sales 20% Retail Sales 30% Aviation & Marine Sales 10% Refinin
Slide 57: Lubes Marketing Structural Advantages
Lubes Marketing Structural Advantages Market Share • Largest manufacturer and marketer of lube basestocks • Leveraging integration with refining • Strong OEM relationships • Technically advanced products % Downstream XOM RDS BP Basestocks Finished Lubricants
Slide 58: Self-Help: Economic Refining Growth
Conversion Capacity Growth Source: EM / O&GJ, 100% basis Distillation Capacity Growth ~50 KBD per year ~35 KBD per year “Equivalent to a new refinery every 3 years” KBD KBD Self-Help: Economic Refining Growth Downstream '95 '00 '05 '95 '00 '05
Slide 59: Self-Help: Refining Margin Enhancement
'00 '01 '02 '03 '04 '05 Raw Material Flexibility Crude Runs, Indexed Challenged Crudes Source: EM, Solomon Self-Help: Refining Margin Enhancement Downstream Crude API Gravity Higher Value Products XOM Industry Clean Product Yield, Indexed Crude Sulfur Lower Crude Costs Crude Quality, Indexed * 2005
Slide 60: Self-Help: Refining Margin Enhancement - Molecule Management
'02 '03 '04 '05 '06 '07 '08 Self-Help: Refining Margin Enhancement Downstream Molecule Management $M/Year, Cumulative before-tax • Molecular fingerprinting • Process modeling • Process control and optimization • Scheduling & blending
Slide 61: Self-Help: Refining Operating Efficiency
Energy Index Indexed Indexed Personnel Index Source: Solomon Industry Industry Self-Help: Refining Operating Efficiency Downstream Unit Cash Cost Industry Indexed * 2005 Estimated – Solomon survey only prepared in even years XOM XOM XOM * * * '00 '02 '04 '05 '00 '02 '04 '05 '00 '02 '04 '05
Slide 62: Self-Help: Refining Asset Utilization
'00 '01 '02 '03 '04 '05 Capacity Utilization XOM Industry Throughput Unplanned Lost Capacity Reliability Indexed XOM Indexed Self-Help: Refining Asset Utilization Downstream Source: EM, Solomon * 2005 Estimated – Solomon survey only prepared in even years '00 '02 '04 '05*
Slide 63: Self-Help: Retail Marketing
'01 '02 '03 '04 '05 '01 '02 '03 '04 '05 Self-Help: Retail Marketing No. of Retail Sites Fuel Sales per Site $M*, Improvement Since 2000 Asset Utilization Nonfuels Income Growth Breakeven Fuels Margin Indexed Downstream U.S., Indexed * Before-tax '01 '02 '03 '04 '05
Slide 64: Self-Help: Lubes Marketing
Self-Help: Lubes Marketing Downstream XOM Industry* Operating Efficiencies Flagship Products Indexed Indexed Growth Markets Indexed Workforce Blend Plants Order Centers Product Complexity XOM Industry* (Finished Lube Sales) * ExxonMobil estimate '01 '02 '03 '04 '05 '01 '02 '03 '04 '05 '01 '02 '03 '0
Slide 65: Technology Leadership
Erosion Resistant Materials Advanced Catalysis Fouling Inhibition Technology Equipment Health Monitoring Flagship Lube Products – Mobil 1 Process Modeling & Optimization Tools Plant Automation Molecule Management Crude Contaminant Control Fiber Optic Corrosion Sensors Coke Morphology Slurry Decoking
Slide 66: Self-Help Drives Earnings Growth
Self-Help Industry Margins Inflation Forex $8.0B $3.4B Earnings Self-Help Drives Earnings Growth Downstream
Slide 67: Industry-Leading Returns
Industry-Leading Returns Downstream Average Capital Employed* $B XOM RDS BP ‘00 ‘05 ‘00 ‘05 ‘00 ‘05 Return on Average Capital Employed* % Reported Net Income $B ‘00 ‘05 ‘00 ‘05 ‘00‘05 *Competitor data estimated using a consistent basis with ExxonMobil, and based on public information ‘00 ‘05 ‘00 ‘05
Slide 68: Chemical Overview
Chemical Overview Analyst Meeting March 8, 2006
Slide 69: 2005 Highlights
2005 Highlights • Earnings of $3.9B, ROCE of 28% - Global scale and integration - Feedstock flexibility - Successful margin enhancement • Operational excellence continues - Safety - Reliability - Energy efficiency • Capex of $654M - High return efficiency projects - Low-cost expansions - Specialty b
Slide 70: Business Strategies
Business Strategies Long-term strategy built on ExxonMobil’s core competencies • Unique portfolio of global integrated businesses • Integration across ExxonMobil operations • Focus on cost management, reliability and efficiencies • Disciplined investment in advantaged projects • Technology leadershi
Slide 71: Business Approach
Business Approach Chemical Operational Excellence Disciplined Investment Industry Leading Returns Superior Cash Flow Growth in Shareholder Value Asset Utilization Advantaged Projects Advantaged Feedstocks Unique Business Portfolio Cost Management Global Scale & Integration Premium Products Technolog
Slide 72: Unique Portfolio of Businesses
Unique Portfolio of Businesses Aromatics Olefins Polyethylene Polypropylene Specialty Businesses Commodity Businesses ExxonMobil Chemical Earnings Chemical $B Rank* *Based on worldwide market position Butyl Fluids Oxo Synthetics Films Adhesion Ethylene Elastomers Additives 0.0 1.0 2.0 3.0 4.0 '95 '0
Slide 73: Long-Standing Integration Advantage
Long-Standing Integration Advantage Petrochemical Plant Crude Oil and Feedstocks Gas Processing Natural Gas Chemical Refinery Integration Benefits • Advantaged feed access • Molecule optimization • Energy integration • Coordinated planning • Shared site services • Common processes • Research & Techn
Slide 74: Positioned for Asia Pacific Growth
Positioned for Asia Pacific Growth • Existing advantaged asset base - Feedstock - Integration - Market access • Pursuing additional advantaged opportunities Chemical Major Project Opportunities Existing Announced XOM BP RDS Dow Singapore Fujian Ras Laffan MT Asia Pacific/Middle East Capacities
Slide 75: Singapore Expansion Project
Singapore Expansion Project Refinery Chemical Singapore Steam Cracker PE PP Arom Oxo Fluids Singapore #2 Steam Cracker PE PP Arom Elast Chemical Plant Existing Plant Proposed Project Oxo
Slide 76: Improvement via Self-Help
Improvement via Self-Help Energy Indexed Cumulative MT vs 2001 Reliability Gains Advantaged Feedstocks Workforce Chemical Indexed Steamcracking Other Operations Indexed '02 '05 '02 '05 '02 '05 '02 '05 0.0 0.5 1.0 1.5 '02 '03 '04 '05
Slide 77: Technology Leadership
Heavy Steam Cracker Feeds Gas-to-Olefins New Aromatics Feeds Synthetics Feed Flexibility Premium Products Zeolite Catalyst Extensions Butyl Mercury In-Reactor Compounds Unipol Fundamentals Step-Skipping Step-Out Economics Reduced Cost Specialties Growth Higher/Stable Returns Differentiation Refining
Slide 78: Delivering Superior Returns
Delivering Superior Returns Average Capital Employed* Reported Net Income $B $B Return on Average Capital Employed* XOM RDS CVX Dow *Competitor data estimated using a consistent basis with ExxonMobil, and based on public information % Chemical ‘00 ‘05 ‘00 ‘05 ‘00 ‘05 ‘00 ‘05 ‘00 ‘05 ‘00 ‘05 ‘00 ‘05
Slide 79: Summary
Summary Analyst Meeting March 8, 2006
Slide 80: Industry Environment
Industry Environment • Growing demand for energy; nearly 50 percent increase by 2030 • Technology and investment critical to meeting future energy needs • Long-term capital intensive industry • Industry driven by long-term trends
Slide 81: Industry Challenges Play to our Strengths
Industry Challenges Play to our Strengths • Global functional organization, scale, and geographic diversity • Unmatched financial and technology strength • Industry-leading resource base and project portfolio • Integration of Downstream and Chemical • Superior business approach and execution
Slide 82: ExxonMobil Superior Business Approach
ExxonMobil Superior Business Approach • Staying the course • Building our advantages • Growing shareholder value Disciplined Investment Operational Excellence Industry Leading Returns Superior Cash Flow Growth in Shareholder Value
Slide 83: Additional Information
Additional Information Analyst Meeting March 8, 2006
Slide 84: Industry Environment
'90 '95 '00 '05 '10 Industry Environment The Industry Cycle* Margin Trends* * ExxonMobil Estimates Nominal $ PE PX MT % Polyethylene, Polypropylene, Paraxylene Rest of World Capacity Utilization Chemical Asia Pacific Demand '90 '95 '00 '05