Exxonmobil 2006 Summary Annual Report

2006 summary annual report Table of Contents

To Our Shareholders 2-3 Business Model 4 Financial Highlights 5 Fundamentals of Our Approach 6-15 Energy Outlook 16-17 Upstream – Business Overview 18-25 Downstream – Business Overview 26-31 Chemical – Business Overview 32-35 Financial Summary 36-43 Frequently Used Terms 44-45 Directors, Officers, and Affiliated Companies 46-47 Investor Information 48-49

The term Upstream refers to exploration, development, production, and gas and power marketing. Downstream refers to the refining and marketing of petroleum products such as motor fuels and lubricants.

Projections, targets, expectations, estimates, and business plans in this report are forward-looking statements. Actual future results, including demand growth and energy mix; capacity growth; the impact of new technologies; capital expenditures; project plans, dates, and capacities; production rates and resource recoveries; and, efficiency gains and cost savings could differ materially due to, for example, changes in oil and gas prices or other market conditions affecting the oil and gas industry; reservoir performance; timely completion of development projects; war and other political or security disturbances; changes in law or government regulation; the actions of competitors; unexpected technological developments; the occurrence and duration of economic recessions; the outcome ON THE COVER of commercial negotiations; unforeseen technical difficulties; and ExxonMobil is involved in every level of the hydrocarbon other factors discussed in this report and in Item 1A. of ExxonMobil’s exploration, production and supply chain, bringing technological most recent Form 10-K. See ExxonMobil’s 2006 Financial and strength, operational excellence, and long-term focus to all parts Operating Review for ExxonMobil’s net interest in specific projects. of its business. In the Upstream, this ranges from advanced visualization techniques to identify potential hydrocarbon deposits Definitions of certain financial and operating measures and other terms (top left), to technically-advanced supply infrastructure such as used in this report are contained in the section titled “Frequently the Erha floating, production, storage, and offloading vessel Used Terms” on pages 44 and 45. In the case of financial measures, (middle right) in deepwater offshore Nigeria, one of the most the definitions also include information required by SEC Regulation G advanced facilities of its kind, producing and storing crude oil to the extent we believe applicable. for distribution to international markets. Integrating our Downstream and Chemical facilities such as at Baytown, Texas (middle left) “Factors Affecting Future Results” and “Frequently Used Terms” are provides unique operational synergies and competitive advantage, also posted on our Web site and are updated from time to time. while our global network of branded service stations brings high Prior years’ data have been reclassified in certain cases to conform quality petroleum products and convenience services (bottom) to the 2006 presentation basis. to our retail customers. E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Consistency. In our shareholder focus, in our long-term approach.

Integrity. In our business practices, in our operations, in our people.

Discipline. In our investment decisions, in our execution of fundamental business strategies.

Reliability. In the quality of our products, in our daily operations, in meeting our commitments.

Ingenuity. In our proprietary research, in our technology applications, in our thinking.

Energy is fundamental to the world’s economies. Improving living standards around the globe requires affordable, reliable energy. Providing this energy is an enormous challenge – one that must be met practically, safely, and in an environmentally and socially responsible manner.

Rex W. Tillerson Chairman and CEO E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT To Our Shareholders

In 2006 ExxonMobil delivered our strongest-ever results with net income of more than

$39 billion and return on average capital employed of 32 percent. Each of our businesses –

Upstream, Downstream, and Chemical – posted record net income. These superior results

are a testament to the strength of our long-standing business model – a rigorous and

systematic approach which delivers industry-leading results across the business cycle.

The Corporation continued to grow shareholder value in our projects at Sakhalin Island in Russia. ExxonMobil’s ability 2006 with a total return of 39 percent. Cash returned to you, to deliver such large and complex projects on-schedule our shareholders, was an all time high with dividends of and on-budget is a significant competitive advantage. $7.6 billion and share purchases to reduce shares outstanding of $25 billion, for a combined distribution of $32.6 billion. Our Downstream and Chemical businesses continued This brings cumulative distributions over the last five years to invest to meet increasing product demand and to over $92 billion. environmental expectations, including clean fuels requirements. We invest in projects that increase the Continuing our disciplined capital investment program, capacity of our existing facilities at a fraction of grassroots we invested almost $20 billion in our businesses in cost, and also make strategic investments to profitably meet 2006. The projects in which we invest often involve billions future demand growth and changing product specifications. of dollars, require many years to develop, and are expected to operate and deliver results for decades. To be successful Technology is integrated into all aspects of our requires a disciplined approach which looks through the business and is critical to our current and future petroleum and petrochemical business cycles to focus on success. In 2006 we continued our significant investment the long-term viability of each project. We continue to identify in technology, spending more than $700 million on research and progress a diverse portfolio of world-class profitable and development. Technology advances create opportunities, investment opportunities, with over 60 major projects allowing us to find and recover more resources, develop currently in development. resources with less impact on the environment, expand capacity at existing refining and petrochemical sites, and Our Upstream business started up seven major develop premium products to meet customer needs, projects in 2006 in locations including West Africa, efficiently and reliably. Our scientists develop technologies Malaysia, Azerbaijan, Norway, and Canada. These to support continued improvements in our daily operations, projects are the culmination of many years of investment as well as deliver proprietary breakthroughs to maintain and development. Each of these projects is delivering new our competitive position. supplies of oil and natural gas to global markets and value to resource owners and our shareholders. In addition, we ExxonMobil focuses on world-class operational made significant progress in advancing our large portfolio performance. We relentlessly pursue operations excellence of projects currently in development and further enhanced employing consistent practices globally. In 2006 we delivered operations of our producing assets. We commissioned new our best-ever workforce safety performance and had the production and export facilities to increase production from fewest hydrocarbon spills on record for the Corporation. E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Our extensive global expertise uniquely positions our global operations; working with partners to improve our ExxonMobil to maximize resource value. Integrating customers’ fuel efficiency; and investing in research to foster our Upstream, Downstream, and Chemical expertise and development of global energy technologies with significantly experience to identify resource opportunities, produce reduced greenhouse gas emissions. hydrocarbons efficiently and reliably, refine and market fuels and lubricants, and supply chemical products creates 2007 marks our 125th year of taking on the world’s capabilities unmatched in the energy industry. The result is toughest energy challenges. We are proud of our long a portfolio that delivers long-term business success through history of contributions to meet the world’s energy needs an integrated approach to maximizing resource value. and to serve our customers with dependable, high-quality products. Our industry has seen significant changes, Integrity is the cornerstone of our business and through which we have consistently delivered superior operating philosophy. It defines the way we operate results. As we look forward, changing conditions, growing every day in every aspect of our business. We maintain an demand, and evolving environmental expectations will require unwavering commitment to honest and ethical behavior, innovation, financial discipline, and operating excellence. and demand of ourselves the highest standards of business I believe ExxonMobil is uniquely positioned to take on conduct wherever we operate around the world. these challenges. You, our shareholders, can count on the consistency of our underlying approach – consistency in As economies grow and standards of living rise, more our high standards of operational excellence, consistency energy is required. By 2030, we expect the world’s energy in the way our investment decisions are made, consistency needs will be 60 percent greater than in 2000, with the majority in delivering differentiating technology, and consistency in of that demand met by fossil fuels. This will contribute to an our commitment to grow long-term shareholder value. increase in greenhouse gas emissions and concerns about the risks to society and ecosystems. ExxonMobil’s scientists and engineers are taking action to address the risks posed by greenhouse gas emissions – reducing emissions from Rex W. Tillerson our facilities; deploying energy-efficient technologies across Chairman and CEO

INDUSTR Y–LEADING SAFETY ROCE LEADERSHIP Lost-Time Injuries and Illnesses FOR LAYOUT ALIGNMENT Annual Return on Average Capital Employed ExxonMobil Employees ExxonMobil Contractors ExxonMobil Integrated Oil Competitor Average(1) U.S. Petroleum Industry Benchmark(1) 0.635 FOR LAYOUT ALIGNMENT (percent) (incidents per 200,000 work hours) 0.794 35 0.5

30 0.4 ! 25 CHART 0.3 20 IS IN ! CHART 15 BOTH 0.2 SAR and F&O IS IN 10 0.1 F&O 5 AS 15A

0 0 2002 2003 2004 2005 2006 2000 2001 2002 2003 2004 2005 2006

(1) Royal Dutch Shell, BP, and Chevron values are estimated on a consistent basis with (1) Employee safety data from participating American Petroleum Institute companies ExxonMobil, based on public information. (2006 industry data not available at time of publication).

DATA as of 02/08/2007: DATA as of 02/10/2007: LTIR (XOM) LTIR (Contractors) "XOM" "Int." "00" 0.147 0.164 "02" 13.5 8 "01" 0.094 0.125 2006 ExxonMobil SAR "03" 20.9 14 "02" 0.083 0.088 For: Whetstone Design Lab "04" 23.8 19 "03" 0.070 0.082 Eric Whetstone, 214-788-6336 "05" 31.3 21 "04" 0.043 0.062 File name: S02B 06XOMSAR-Safety.eps "05" 0.068 0.054 “06” 32.2 20 “06” 0.045 0.050 Placed file(s): For page: 02B SAR Last updated: 02/08/2007 DATA as of 02/02/2007: 2006 ExxonMobil F&O 2006 XOM SAR Updated by: Carol Zuber-Mallison ZM GRAPHICS • 214-906-4162 • [email protected] For: Whetstone Design Lab “US Empl Benchmark” Page in Summary (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil Eric Whetstone, 214-788-6336 Annual Report: "00" 0.470 File name: 04A 06XOMFO-RoceLeadershp.eps "01" 0.30 Production notes: Placed file(s): "02" 0.34 "03" 0.30 For page: 04A Last updated: 02/16/2007 S02A "04" 0.29 Updated by: Carol Zuber-Mallison "05" 0.24 ZM GRAPHICS • 214-906-4162 • [email protected] “06” (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Production notes:

0.5 “US Empl Benchmark” 0.4 LTIR (XOM) LTIR (Contractors)

0.4 0.3

0.3 35 0.2Int. 30 0.2 0.1XOM 25 0.1 20 0.0 00 01 02 03 04 05 “06” -0.0 15 00 01 02 03 04 05 “06”

0 02 03 04 05 “06” E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

ExxonMobil leads our industry by consistently delivering superior operating and financial results. Our business model maintains focus on long-term fundamentals and growing shareholder value.

F un d a ment a l s of our A p p ro a ch ➤ Consistency. ➤ Integrity. ➤ Discipline. ➤ Reliability. ➤ Ingenuity.

b U S i ness M o d e l Disciplined Our business model is disciplined and straightforward; taking Investment a long-term perspective and focusing on generating growth in shareholder value while managing risk. We begin with a disciplined investment approach. We combine this with G R O W T H I N Superior Operational ! operational excellence, as demonstrated by our industry- SHAREHOLDER Cash Flow Excellence CHART leading safety record. Our superior return on capital VALUE IS IN employed (ROCE) reflects our ability to generate more BOTH SAR and F&O income from a highly efficient capital base. Rigorous execution of this model delivers industry-leading financial Industry-Leading and operating results that generate greater long-term returns Returns for our shareholders.

2006 ExxonMobil F&O 2006 XOM SAR For: Whetstone Design Lab Page in Summary Superior 2006 Results Eric Whetstone, 214-788-6336 Annual Report: File name: 02A 06XOMFO-VirtuousCircle.eps ➤ Industry-leading safety record Placed file(s): For page: 02A Last updated: 01/28/2007 S04A ➤ Record earnings of $39.5 billion Updated by: Carol Zuber-Mallison ZM GRAPHICS • 214-906-4162 • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil ➤ Dividend payments per share grew 12.3 percent and increased for the 24th consecutive year Production notes:

➤ $32.6 billion in distributions to shareholders, an increase of 41 percent or $9.4 billion versus 2005

➤ Industry-leading return on average capital employed (ROCE) of 32.2 percent

➤ Proved reserves additions replaced 122 percent of production

➤ Production increased by 4 percent year on year, 7 percent excluding divestment and entitlement effects

➤ Seven major Upstream projects began production

➤ Downstream and Chemical operating cost efficiencies and revenue enhancements exceeded $1.5 billion after tax E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

F i n a nc i a l H i g h l i g hts

(millions of dollars, unless noted) 2006 2005 2004 2003 2002

Sales and other operating revenue (1)(2) 365,467 358,955 291,252 237,054 200,949 Net income 39,500 36,130 25,330 21,510 11,460 Cash flow from operations and asset sales (3) 52,366 54,174 43,305 30,788 24,061 Capital and exploration expenditures (3) 19,855 17,699 14,885 15,525 13,955 Cash dividends to ExxonMobil shareholders 7,628 7,185 6,896 6,515 6,217 Common stock purchases (gross) 29,558 18,221 9,951 5,881 4,798 Research and development costs 733 712 649 618 631 Cash and cash equivalents at year end (4) 28,244 28,671 18,531 10,626 7,229 Total assets at year end 219,015 208,335 195,256 174,278 152,644 Total debt at year end 8,347 7,991 8,293 9,545 10,748 Shareholders’ equity at year end 113,844 111,186 101,756 89,915 74,597 Average capital employed (3) 122,573 116,961 107,339 95,373 88,342 Share price at year end (dollars) 76.63 56.17 51.26 41.00 34.94 Market valuation at year end 438,990 344,491 328,128 269,294 234,101 Regular employees at year end (thousands) 82.1 83.7 85.9 88.3 92.5

K ey F i n a nc i a l R at i os 2006 2005 2004 2003 2002

Net income per common share (dollars) 6.68 5.76 3.91 3.24 1.69 Net income per common share – assuming dilution (dollars) 6.62 5.71 3.89 3.23 1.68 Return on average capital employed (3) (percent) 32.2 31.3 23.8 20.9 13.5 Net income to average shareholders’ equity (percent) 35.1 33.9 26.4 26.2 15.5 Debt to capital (5) (percent) 6.6 6.5 7.3 9.3 12.2 Net debt to capital (6) (percent) (20.4) (22.0) (10.7) (1.2) 4.4 Current assets to current liabilities 1.55 1.58 1.40 1.20 1.15 Fixed charge coverage (times) 46.3 50.2 36.1 30.8 13.8

(1) Sales and other operating revenue includes sales-based taxes of $30,381 million for 2006, $30,742 million for 2005, $27,263 million for 2004, $23,855 million for 2003 and $22,040 million for 2002. (2) Sales and other operating revenue includes $30,810 million for 2005, $25,289 million for 2004, $20,936 million for 2003, and $18,150 million for 2002 for purchases/sales contracts with the same counterparty. Associated costs were included in Crude oil and product purchases. Effective January 1, 2006, these purchases/sales were recorded on a net basis with no resulting impact on net income. (3) See Frequently Used Terms on pages 44 and 45. (4) Excluding restricted cash of $4,604 million in 2006, 2005, and 2004. (5) Debt includes short- and long-term debt. Capital includes short- and long-term debt, shareholders’ equity, and minority interests. (6) Debt net of cash, excluding restricted cash. The ratio of net debt to capital including restricted cash is (26.3) percent for 2006.

RECORD EARNINGS IN 2006 TOT AL SHAREHOLDER RETURNS ( 1 ) FOR LAYOUT ALIGNMENT Functional Earnings and Net Income TOTExxonMobilAL SHAREHOLDERS&P 500 RETURNSIntegrated Oil( 1 Competitor) Data(2) FOR LAYOUT ALIGNMENT Upstream Downstream Chemical Corporate Net Income (perExxonMobilcent0.635 per year) S&P 500 Integrated Oil Competitor Data(2) FOR LAYOUT ALIGNMENT (billions of dollars) and Financing (percent per year) 0.493 18 0.493 40 18 15 35 ! 15 ! CHART IS IN 30 12 ! CHART CHART IS IN 25 12 F&O 9 IS 03A IN F&O03B 20 9 6 FO WITH03B 15 DIFFERENT 6 DIFFERENWITH T 10 3 SIZE DIFFERENFOOTNOTET 5 3 FOOTNOTE 0 0 5 Years 10 Years 20 Years –2 0 2002 2003 2004 2005 2006 5 Years 10 Years 20 Years

(1) Total return to shareholders is the change in the stock price over a given period (1)plus T otalthe valuereturn of to the shareholders dividends, withis the dividend change reinvestment,in the stock price divided over by a giventhe stock period plusprice the at thevalue beginning of the dividends, of the measurement with dividend period. reinvestment, divided by the stock price(2) Royal at the Dutch beginning Shell, ofBP the, and measurement Chevron values period. are calculated on a consistent basis (2)with Royal ExxonMobil, Dutch Shell, based BP on, and public Chevron information. values are calculated on a consistent basis with ExxonMobil, based on public information. DATA as of 02/01/2007: DATA as of 02/01/2007: DATA as of 02/01/2007: "Up" "Down" "Chem" "All Other" "Net income" "2002" 9.598 1.300 0.830 "02" -0.268 DATA as of 02/22/2007: "02" 11.460 DATA as of 02/22/2007: "2003 14.502 3.516 1.432 "03"" 2.060 "XOM" "03" "S&P500"21.510 “Competitors” "2004" 16.675 5.706 3.428 "04" -0.479 "5 year" "XOM"16.9 "04" 6.2"S&P500" 25.330 12.6“Competitors” "2005" 24.349 7.992 3.943 "05" -0.154 "10"5 year" year" 14.716.9 "05" 8.46.2 36.130 10.412.6 “2006” 26.230 8.454 4.382 “06” 0.434 "20"10 year" 15.414.7 “06 11.88.4 39.500 14.210.4 "20 year" 15.4 11.8 14.2

40 2006 ExxonMobil SAR 2006 ExxonMobil SAR 2006For: Whetstone ExxonMobil Design Lab Net SAR income 35 Eric Whetstone, 214-788-6336 For: Whetstone Design Lab For: Whetstone Design Lab Eric Whetstone, 214-788-6336 30 File name:Eric Whetstone,S05B 06XOMSAR-SharehldRetrn.eps 214-788-6336 File name: S05A 06XOMSAR-RecordEarnings.eps File name: S05B 06XOMSAR-SharehldRetrn.eps 25 Placed file(s): Placed file(s): Placed file(s): 20 For page: 05B SAR Last updated: 02/22/2007 For page: S05A Last updated: 02/23/2007 For page: 05B SAR 15 Updated by: Carol Zuber-MallisonLast updated: 02/22/2007 Updated by: Carol Zuber-Mallison UpdatedZM by: GRAPHICSCarol Zuber • 214-906-4162-Mallison • [email protected] 10 (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil ZM GRAPHICS • 214-906-4162 • [email protected] ZM GRAPHICS • 214-906-4162 • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil 5 (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil Production notes: Production notes: 0 02Production notes: 03 04 05 “06

18 “Competitors” 18 15 “Competitors” S&P500 40 15 Chem 40 S&P500 12 XOM 35 35 Down 12 XOM 30 30 9 25 Up 9 25 6 All Other 20 20 6 15 15 3 10 3 10 0 5 year 10 year 20 year 5 5 0 5 year 10 year 20 year 0 2002 2003 2004 2005 “2006” 0 -5 02 03 04 05 “06” E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Consistency.

Our approach to the business is consistent – a long-term view and focus on shareholder value.

Providing energy to meet the world’s demand is a complex business. In meeting this challenge, we have always taken a long-term view rather than reacting to short-term business cycles.

Our continued capital investment through all parts of the business cycle supports this consistent, long-term approach. Energy projects are large scale and capital intensive, and often require substantial lead time – measured in years or sometimes decades – to develop. Once developed, our projects typically operate for several decades. These projects must be selected, designed, and constructed to withstand changing market conditions, varying customer demand, and the challenges of operating equipment over the course of many years.

The long-term nature of our business requires that we look through cyclical fluctuations when making investment decisions. While short-term trends in the energy markets vary, we concentrate on business fundamentals and on maximizing shareholder value.

Investment in the heavy oil of Cold Lake, Canada, began in the 1970s. Since that time, phased developments have been brought online, resulting in steady production growth to a record in 2006 of greater than 160 thousand barrels per day. Through continued technology development and deployment, the estimated reservoir recovery factor has more than doubled to over 30 percent.

12 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Integrity.

ExxonMobil has an unwavering commitment to high ethical standards and operations excellence.

We have long recognized the importance and

value of maintaining high standards of ethics

and business integrity. We care about how results

are obtained, not just the results. These standards are

applied globally to all aspects of our business.

In managing the Corporation’s day-to-day activities

throughout the world, we work to ensure that all our

operations are safe and environmentally responsible.

Our globally implemented management systems

provide a framework for proactively managing risk,

and move us further toward our goal of zero safety

incidents and operations with minimal environmental

impact. We are committed to operations excellence

in all areas of our business.

The results of our high level of integrity are demonstrated

through the products we deliver to customers, through

our business relationships, and through continuous

pursuit of operations excellence. We view our corporate

integrity as a valuable asset that must be protected.

Our operations are complex and involve inherent

risks. We manage these risks proactively across

the globe with consistent systems and high

standards for our people. This is true of all of our

sites, including this Chemical facility that produces

polyolefins for distribution around the world.

We are the world’s leading supplier of polyolefins. 10 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Discipline.

Our selective and disciplined investment approach delivers industry-leading returns.

Through use of our disciplined project selection

process, we work to identify and fund investment

opportunities that will grow long-term shareholder

value. New opportunities must pass rigorous

assessments and reviews to ensure each project

is technically, operationally, and financially robust.

We only fund projects that meet these requirements

and reinforce our strategic objectives.

Investment in our world-scale projects is the outcome

of this disciplined project selection process. Our record

of completing these projects on-budget and on-schedule

provides a distinct competitive advantage.

Financial strength and a superior asset base allow us

to be patient and selective – long-term shareholder

value is not sacrificed for short-term needs.

We continuously assess our project portfolio to ensure

all of our assets are aligned with our strategic objectives

and will generate long-term shareholder value.

The East Area Project offshore Nigeria that

started up in 2006 is expected to increase

reservoir recovery by 560 million oil-equivalent

barrels (gross) and minimize gas flaring from

six joint-venture fields. It is part of an ongoing,

long-term, disciplined investment program in this

prolific oil and gas region.

12 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 13

Reliability.

Reliable operations are safer, more efficient, and more profitable.

Reliability delivers value to our shareholders,

our customers, and our business partners.

At ExxonMobil, we are serious about meeting our

commitments to customers, employees, investors,

partners, and the communities in which we operate.

Our focus on execution excellence in our daily

operations results in world-class facilities that are

leaders in safe and reliable operations. We continuously

work to improve our operations reliability through

enhanced designs, advances in technology, and

improved maintenance and operating procedures.

Reliability improvements result in a safer workplace and

a more efficient operation by lowering costs to run the

business. Reliable operations ensure delivery of quality

products that meet the standards of our customers in

a timely manner.

Because we recognize the value of reliability,

we relentlessly pursue excellence in all aspects of

our operations.

Our chemical and refining facilities, such as

the Baytown complex, the largest in the United

States, are implementing our global reliability

management system. This system utilizes proven

maintenance and operating practices to increase

facility throughput and reduce the risks inherent

to our industry. 14 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Ingenuity.

Our commitment to and success in technology differentiates us from others and is reflected in our business results.

Scientists and engineers at ExxonMobil seek

innovative solutions to the technical challenges

we face around the globe. These solutions enable

ExxonMobil to remain at the forefront of our industry.

We focus on both step-changing, breakthrough

concepts as well as evolutionary technology

improvements. Our research priorities are determined

by business requirements, and our technology

solutions, such as reservoir imaging techniques and

clean fuels catalysts, are the result of decades of

commitment to technology and ingenuity.

Our consistent investment in research and development,

which has grown to over $700 million annually,

ensures we have the capabilities to develop and apply

the technology that underpins our business results.

ExxonMobil’s commitment to technology extends

beyond our company – we also partner with third-

party scientists from universities and governments in

the pursuit of technological innovation.

Scientists at our Upstream research facility

use specialized equipment to develop and test

technologies critical to our operations, including

a unique flow loop used to rapidly create and

deploy advanced corrosion control methods.

16 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT Energy Outlook – A View to 2030

At ExxonMobil, our greatest challenge lies in helping meet the world’s rising energy needs.

The Energy Outlook summarizes our view of the fundamentals that underpin world energy supply and demand through 2030. It provides a strategic foundation, aiding our evaluation and selection of business opportunities that hold the most promise. We continuously update our outlook to ensure that new technologies and information are considered in addition to past experience. g R O w i n g p O p u l a t i ons a n d WORLD’S OIL RESOURCE BASE i M p rov i n g L i v i n g S t a n d a r d s Estimates of Recoverable Oil FOR LAYOUT ALIGNMENT Progress for billions of people around the world is driving Conventional Resources Produced to Date Frontier Resources a growing need for reliable, affordable, and cleaner energy. (trillions of barrels) 0.635 We aim to help meet this need. 5 For progress to occur, access to modern energy supplies and technologies is critical. This requires disciplined invest- 4 ments in energy as well as basic infrastructure to support economic progress. At the same time, continuing to develop 3 and adopt efficient energy practices and technologies is extremely important and prudent. 2

1 d E M a n d for L i q u i d s As the world’s population grows, and as incomes increase, ! 0 CHART so does the global demand for liquid energy supplies 1984 1987 1991 1994 2000 2006 Estimate source: U.S. Geological Survey ExxonMobil IS IN (e.g., oil, biofuels). F&O A key factor driving demand is the growth in ownership of O i l S u p p ly as 08A personal vehicles. This is most evident with the emergence By 2030 we expect total liquids demand to be about Different size of rapidly expanding non-OECD economies, which we 115 million barrels per day. The world is endowed with huge DATA from PPT on 12/26/2006: expect will approach half a billion personal vehicles by 2030. oil resources, which are adequate to meet rising demand through 2030. ProducedHowever, accessConventional to these Frontier resources, huge USGS 1984 1719 Working to offset demand growth will be continuing improve- investments, and the ongoing development and application ments in conventional engines and deployment of emerging USGS 1987 1744 ofUSGS technology 1991 are essential to develop2171 new supplies. technologies, such as hybrid vehicles. These advances USGS 1994 2273 should enable significant gains in vehicle fuel economy. EmergingUSGS 2000 technologies promise3345 to further advance our capabilityExxonMobil to extend 1020 recoverable 2213 resources 1500 worldwide. Today, technology allows for liquid fuels to be derived New technology will promote economic development of from coal, natural gas, and crops. But even under the most frontier resources, such as heavy oil and shale oil, to help optimistic scenarios, these alternatives will supply only a ensure2006 adequate ExxonMobil supplies SARwell past 2030. small fraction of the fuel needed on a global basis. Oil is For: Whetstone Design Lab the world’s transportation fuel of choice, and will remain Eric Whetstone, 214-788-6336 so for decades. File name: S16A 06XOMSAR-GlobalBase.eps Placed file(s): WORLDWIDE GROSS DOMESTIC For page: S16A SAR Last updated: 02/23/2007 FOR LAYOUT ALIGNMENT GLOBAL POPULA TION PRODUCT (GDP) WORLD ENERGY DEMAND Updated by: Carol Zuber-Mallison (trillions of dollars, year 2000 dollar value) (millions of oil-equivalent barrels per day) (billions) ZM GRAPHICS • 214-906-4162 • [email protected] 0.481 (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil 8 80 350 Production notes:

7 70 300

6 60 Non- OECD 250 5 50 ! 200 CHART 5000 4 40 Non-OECD Frontier IS IN Non-OECD 150 3 30 4000 Conventional F&O 100 2 20 AS 07ABC OECD OECD Produced 1 10 3000 50 OECD 0 0 0 1950 1970 1990 2010 2030 1950 1970 1990 20002010 2030 1950 1970 1990 2010 2030

OECD – Organisation for Economic Co-operation and Development 1000

0 USGS 1984USGS 1987USGS 1991USGS 1994USGS 2000ExxonMobil 2006 ExxonMobil SAR For: Whetstone Design Lab DATA on 02/06/2007: DATA on 02/06/2007: DATA on 02/06/2007: Eric Whetstone, 214-788-6336 POPULATION GDP ENERGY DEMAND File name: S16BCD 06XOMSAR-PopGdpDmd.eps OECD NON OECD NON OECD NON 1/1/50 677.001 1847.55 1/1/50 3973.38 817.657 1/1/50 27613.5 11302.2 Placed file(s): 1/1/51 685.73 1887.26 1/1/51 4161.78 864.503 1/1/51 28869.8 12418.9 1/1/52 694.458 1926.97 1/1/52 4359.78 913.288 1/1/52 30126.1 13535.5 For page: S16BCD Last updated: 02/22/2007 1/1/53 703.187 1966.68 1/1/53 4567.94 964.035 1/1/53 31382.4 14652.2 1/1/54 711.916 2006.39 1/1/54 4786.84 1016.76 1/1/54 32638.7 15768.8 Updated by: Carol Zuber-Mallison 1/1/55 720.645 2046.11 1/1/55 5017.09 1071.46 1/1/55 33895 16885.4 ZM GRAPHICS • 214-906-4162 • [email protected] 1/1/56 730.679 2090.39 1/1/56 5259.36 1128.14 1/1/56 35437.1 18553.7 1/1/57 740.712 2134.67 1/1/57 5514.35 1186.78 1/1/57 36979.2 20222 (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil 1/1/58 750.746 2178.95 1/1/58 5782.8 1247.35 1/1/58 38521.3 21890.2 1/1/59 760.779 2223.24 1/1/59 6065.52 1309.81 1/1/59 40063.4 23558.5 Production notes: 1/1/60 770.813 2267.52 1/1/60 6363.36 1374.1 1/1/60 41605.5 25226.8 1/1/61 781.555 2314.63 1/1/61 6677.24 1440.13 1/1/61 43686.9 26362.3 10000 1/1/62 792.297 2361.75 1/1/62 7008.13 1507.8 1/1/62 45768.4 27497.8 1/1/63 803.039 2408.86 1/1/63 7357.08 1576.99 1/1/63 47849.9 28633.3 1/1/64 813.781 2455.98 1/1/64 7725.2 1647.53 1/1/64 49931.4 29768.8 1/1/65 824.524 2503.09 1/1/65 8113.69 1719.24 1/1/65 52012.9 30904.3 1/1/66 834.162 2563.6 1/1/66 8523.83 1791.9 1/1/66 54741.4 32806.4 8000 1/1/67 843.801 2624.1 1/1/67 8956.99 1865.24 1/1/67 57469.9 34708.4 1/1/68 853.44 2684.6 1/1/68 9414.64 1938.96 1/1/68 60198.4 36610.5 1/1/69 863.079 2745.11 1/1/69 9898.37 2012.7 1/1/69 62926.9 38512.5 1/1/70 872.718 2805.61 1/1/70 10437.1 1926.73 1/1/70 65655.4 40414.6 6000 1/1/71 883.254 2873.27 1/1/71 10816.3 2044.99 1/1/71 69820 42591 1/1/72 893.312 2940 1/1/72 11413.1 2154.57 1/1/72 73537.1 44713.1 1/1/73 902.578 3006.87 1/1/73 12129.8 2298.59 1/1/73 77900.6 47065.4 1/1/74 912.806 3073.46 1/1/74 12214.4 2403.82 1/1/74 76617.5 48979 1/1/75 922.503 3139 1/1/75 12265.8 2504.97 1/1/75 74661.4 51806.8 4000 1/1/76 930.672 3203.93 1/1/76 12861.6 2663.18 1/1/76 78869.4 54496.7 1/1/77 939.21 3268.51 1/1/77 13365.5 2787.09 1/1/77 81043.6 56891.3 1/1/78 947.742 3334.21 1/1/78 13959.6 2897.09 1/1/78 82940.4 59373.4 1/1/79 956.315 3401.26 1/1/79 14483.5 3046.26 1/1/79 85062.6 61737.6 1/1/80 964.793 3468.06 1/1/80 14679.6 3203.06 1/1/80 82807.8 63040.1 2000 1/1/81 973.458 3536.13 1/1/81 14941.3 3218.09 1/1/81 81398.1 63267.2 1/1/82 981.515 3606.89 1/1/82 14963.3 3250.54 1/1/82 79014.9 64887.5 1/1/83 989.178 3678.2 1/1/83 15376 3326.11 1/1/83 79078.6 66746.1 1/1/84 996.506 3748.97 1/1/84 16096.1 3453.6 1/1/84 82879 69486.1 0 1/1/85 1003.9 3821.29 1/1/85 16675.3 3554.02 1/1/85 84283.5 72093.8 1/1/501/1/511/1/521/1/531/1/541/1/551/1/561/1/571/1/581/1/591/1/601/1/611/1/621/1/631/1/641/1/651/1/661/1/671/1/681/1/691/1/701/1/711/1/721/1/731/1/741/1/751/1/761/1/771/1/781/1/791/1/801/1/811/1/821/1/831/1/841/1/851/1/861/1/871/1/881/1/891/1/901/1/911/1/921/1/931/1/941/1/951/1/961/1/971/1/981/1/991/1/001/1/011/1/021/1/031/1/041/1/051/1/061/1/071/1/081/1/091/1/101/1/111/1/121/1/131/1/141/1/151/1/161/1/171/1/181/1/1920202021202220232024202520262027202820292030 1/1/86 1011.47 3897.05 1/1/86 17187.5 3718.8 1/1/86 85210.4 74709.7 1/1/87 1018.96 3975.02 1/1/87 17785 3885.87 1/1/87 88058 77698.7 1/1/88 1026.72 4053.96 1/1/88 18601.1 4048.71 1/1/88 90944.2 80890.6 80000 1/1/89 1035.41 4132.6 1/1/89 19308.2 4165.35 1/1/89 93038.5 82629.3 1/1/90 1044.5 4210.51 1/1/90 19880.1 4218.41 1/1/90 93235.4 82534.3 70000 1/1/91 1053.7 4286.76 1/1/91 20206.6 4301.66 1/1/91 94504.6 83501.4 1/1/92 1063.2 4360.1 1/1/92 20594.7 4381.89 1/1/92 95829 85984.3 60000 1/1/93 1072.32 4429.71 1/1/93 20858.2 4522.99 1/1/93 96961.1 86162.4 1/1/94 1080.93 4499.49 1/1/94 21491.5 4721.16 1/1/94 99007.9 85853 1/1/95 1089.45 4571.31 1/1/95 22016.7 4948.4 1/1/95 101133 88533.5 50000 1/1/96 1097.71 4644.57 1/1/96 22654.4 5201.2 1/1/96 104627 88967.7 1/1/97 1106.17 4716.3 1/1/97 23412 5469.33 1/1/97 105569 89458.3 40000 1/1/98 1113.8 4786.9 1/1/98 23974.6 5590.38 1/1/98 106138 90214.6 1/1/99 1121.65 4856.91 1/1/99 24702.2 5775.52 1/1/99 107570 91018.8 1/1/00 1129.62 4923.68 1/1/00 25644.6 6095.67 1/1/00 109913 92972.1 30000 1/1/01 1137.69 4991.58 1/1/01 25931.3 6293.75 1/1/01 108951 95175.8 1/1/02 1145.68 5058.2 1/1/02 26296.7 6521.87 1/1/02 109929 98517.9 20000 1/1/03 1152.63 5123.82 1/1/03 26820.6 6895.32 1/1/03 111039 104186 1/1/04 1158.36 5189.72 1/1/04 27689.4 7396.94 1/1/04 113141 110502 10000 1/1/05 1164.1 5255.59 1/1/05 28443.7 7877.27 1/1/05 113427 115099 1/1/06 1169.57 5319.82 1/1/06 29181 8339.54 1/1/06 114539 119006 0 1/1/07 1175.04 5384.06 1/1/07 29910 8813.16 1/1/07 115809 122071 1/1/501/1/511/1/521/1/531/1/541/1/551/1/561/1/571/1/581/1/591/1/601/1/611/1/621/1/631/1/641/1/651/1/661/1/671/1/681/1/691/1/701/1/711/1/721/1/731/1/741/1/751/1/761/1/771/1/781/1/791/1/801/1/811/1/821/1/831/1/841/1/851/1/861/1/871/1/881/1/891/1/901/1/911/1/921/1/931/1/941/1/951/1/961/1/971/1/981/1/991/1/001/1/011/1/021/1/031/1/041/1/051/1/061/1/071/1/081/1/091/1/101/1/111/1/121/1/131/1/141/1/151/1/161/1/11/1/181/1/197 1/1/08 1180.52 5448.31 1/1/08 30659.8 9271.06 1/1/08 117038 125262 1/1/09 1185.99 5512.56 1/1/09 31401.9 9718.44 1/1/09 118305 128257 1/1/10 1191.47 5576.81 1/1/10 32161.1 10173.9 1/1/10 119516 131064 350000 1/1/11 1195.93 5639.49 1/1/11 32887.7 10638.8 1/1/11 120538 133922 1/1/12 1200.39 5702.16 1/1/12 33632.2 11121.5 1/1/12 121587 136789 1/1/13 1204.86 5764.83 1/1/13 34393.6 11628 1/1/13 122575 139692 300000 1/1/14 1209.32 5827.5 1/1/14 35173.9 12159.1 1/1/14 123587 142639 1/1/15 1213.78 5890.16 1/1/15 35973.5 12715.4 1/1/15 124589 145593 1/1/16 1217.89 5951.32 1/1/16 36781.5 13292.9 1/1/16 125485 148454 250000 1/1/17 1221.99 6012.47 1/1/17 37609.5 13899.9 1/1/17 126353 151377 1/1/18 1226.06 6073.61 1/1/18 38458.3 14536.9 1/1/18 127221 154330 200000 1/1/19 1230.1 6134.76 1/1/19 39326.6 15204.7 1/1/19 128094 157148 2020 1234.15 6195.9 2020 40209.9 15906.8 2020 128898 160096 2021 1237.366 6253.74 2021 41102.84 16689.44 2021 129655.4 163184.8 150000 2022 1240.582 6311.58 2022 41995.78 17472.08 2022 130412.8 166273.6 2023 1243.798 6369.42 2023 42888.72 18254.72 2023 131170.2 169362.4 2024 1247.014 6427.26 2024 43781.66 19037.36 2024 131927.6 172451.2 100000 2025 1250.23 6485.1 2025 44674.6 19820 2025 132685 175540 2026 1252.522 6538.03 2026 45644.58 20661.12 2026 133311 178087.8 2027 1254.814 6590.96 2027 46614.56 21502.24 2027 133937 180635.6 50000 2028 1257.106 6643.89 2028 47584.54 22343.36 2028 134563 183183.4 2029 1259.398 6696.82 2029 48554.52 23184.48 2029 135189 185731.2 0 2030 1261.69 6749.75 2030 49524.5 24025.6 2030 135815 188279 1/1/501/1/511/1/521/1/531/1/541/1/551/1/561/1/571/1/581/1/591/1/601/1/611/1/621/1/631/1/641/1/651/1/661/1/671/1/681/1/691/1/701/1/711/1/721/1/731/1/741/1/751/1/761/1/771/1/781/1/791/1/801/1/811/1/821/1/831/1/841/1/851/1/861/1/871/1/881/1/891/1/901/1/911/1/921/1/931/1/941/1/951/1/961/1/971/1/981/1/991/1/001/1/011/1/021/1/031/1/041/1/051/1/061/1/071/1/081/1/091/1/101/1/111/1/121/1/131/1/141/1/151/1/11/1/171/1/181/1/196 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 17

T he N ee d for p O w er Clearly a variety of options exist to mitigate CO2 emissions, Economic growth and improvements in living standards are but they each come at a cost, ultimately borne by consumers. reflected in the demand for electricity. Those across the world Effectively addressing this issue requires understanding the without access to reliable electricity lack a basic ingredient potential scale, cost, and tradeoffs involved. that would allow them to not only improve their lives, but also compete in today’s global economy. C onc l us i ons Key conclusions of our outlook include: In developed economies, natural gas will provide the most growth in power generation. These countries have access ➤ By 2030, energy demand will increase about 60 percent to gas supplies and existing infrastructure. At the same time, compared to 2000. The vast majority of this increase will gas has advantages in the high efficiency of combined-cycle occur in developing nations, but efficiency gains throughout plants and low emissions versus other fuels. the world will remain important.

Emerging economies will generally continue to prefer coal. ➤ The global energy mix will look very similar 25 years from This is especially true in China and India, where coal is now, as oil, gas, and coal will remain predominant. abundant, provides supply security, and offers the lowest- cost option for huge populations with surging demand ➤ Resources are adequate to support global demand growth. for electricity. Access to these resources and large, timely investments will be needed to ensure reliable energy supplies. While natural gas and coal demand will grow the most in absolute terms, nuclear and renewable fuels will also see ➤ Global trade, particularly for oil and natural gas, will significant growth. continue to grow.

➤ g R O w i n g E ner g y d E M a n d a n d C O 2 E m i ss i ons Technology will remain critical to success in all aspects of As the world’s energy consumption continues to grow, we our energy challenges, whether mitigating demand growth, must be mindful of the implications. expanding supplies, or protecting the environment.

First, large timely investments are necessary to develop the Our outlook is focused on the world’s rising energy needs resources required to meet the world’s energy needs. These and how we expect these needs to be met, considering investments can be made only if industry is allowed access scale and cost issues. to the resources. Providing this energy is not easy or automatic. The chal- Second, continuing development and application of lenges reflect the global magnitude of the task, as well as technology is essential, both in stretching supplies and often competing objectives related to economic develop- dampening demand increases. ment, energy security, and the environment. Our approach is to address global energy challenges in a Third, rising consumption of oil, gas, and coal means that pragmatic fashion, recognizing that proposed solutions which CO2 emissions will also increase. Rising CO2 emissions pose are not feasible on a broad-based, commercial scale are risks for society and ecosystems, which could prove to be not solutions at all. significant. Therefore, it is wise to identify the best options to mitigate global CO2 emissions. With our leading resource base, financial and technological strength, disciplined investment approach, and project GLOBAL ENERGY DEMAND portfolio, we are well-positioned to help meet the global FOR LAYOUT ALIGNMENT Liquids Gas Coal Other Annual Growth Rate needs for substantial new energy supplies. These assets (millions of oil-equivalent barrels per day) 2000-2030 provide0.481 us with a sustainable competitive advantage and help us remain at the forefront in meeting the energy 350 Average 1.6% challenges andDATA capitalizing fas of 02/06/2007: on the opportunities ahead. 1.5% 300 Liquids Gas Coal Other 250 1.6% 1/1/80 62672 27830 33234 22255 1/1/81 60562 27586 33365 23298 200 1/1/82 59183 27347 33460 24067 1.7% 1/1/83 58898 27483 34464 25139 150 1/1/84 59926 29629 36019 26964 100 1.4% 1/1/85 59838 30865 37377 28492 1/1/86 61614 31400 37668 29425 50 1/1/87 63011 32911 39434 30585

0 1/1/88 65221 34313 40753 31739 1980 1990 2000 2010 2020 2030 1/1/89 66049 36040 41308 32484 1/1/90 66036 35802 41118 33025 1/1/91 66678 36648 40906 33991 1/1/92 67562 38374 41611 34472 1/1/93 67461 38988 41777 35121 1/1/94 68500 39240 42200 35153 1/1/95 69859 40523 43419 36117 1/1/96 71806 40505 44581 36982 ! 1/1/97 73634 40271 44219 37177 CHART 1/1/98 74370 40481 43707 37794 IS IN 1/1/99 75944 41282 42751 38612 F&O 1/1/00 76576 43100 43800 39410 AS 09A 1/1/01 77258 43093 44086 39689 1/1/02 78078 44679 45424 40266 1/1/03 79650 46014 48872 40688 1/1/04 82774 47320 51519 42030 1/1/05 83833 47909 54148 42635 1/1/06 85227 49314 55490 43514 2006 ExxonMobil SAR 1/1/07 86693 50482 56455 44250 For: Whetstone Design Lab 1/1/08 88038 51786 57467 45010 Eric Whetstone, 214-788-6336 1/1/09 89584 52848 58321 45809 File name: S17A 06XOMSAR-GlbEnrgyDmnd.eps 1/1/10 90948 53875 59133 46623 Placed file(s): 1/1/11 92241 54966 60002 47251 For page: S17A Last updated: 02/22/2007 1/1/12 93567 56021 60916 47872 Updated by: Carol Zuber-Mallison 1/1/13 94899 57235 61651 48482 ZM GRAPHICS • 214-906-4162 • [email protected] 1/1/14 96261 58409 62405 49151 (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil 1/1/15 97622 59545 63140 49875 1/1/16 98936 60609 63901 50492 Production notes: 1/1/17 100263 61609 64752 51106 1/1/18 101673 62611 65505 51762 1/1/19 102909 63692 66215 52427 2020 104354 64680 66894 53067 350000 2021 105528 65469.6 67924.8 53918.6 2022 106702 66259.2 68955.6 54770.2 300000 2023 107876 67048.8 69986.4 55621.8 250000 2024 109050 67838.4 71017.2 56473.4 2025 110224 68628 72048 57325 200000 2026 111157.8 69289 72834 58118 2027 112091.6 69950 73620 58911 150000 2028 113025.4 70611 74406 59704 100000 2029 113959.2 71272 75192 60497 2030 114893 71933 75978 61290 50000

0 1/1/801/1/811/1/821/1/831/1/841/1/851/1/861/1/871/1/881/1/891/1/901/1/911/1/921/1/931/1/941/1/951/1/961/1/971/1/981/1/991/1/001/1/011/1/021/1/031/1/041/1/051/1/061/1/071/1/081/1/091/1/101/1/111/1/121/1/131/1/141/1/151/1/161/1/171/1/181/1/19 Exploration, Development, Production, and Gas & Power Marketing upstream ExxonMobil-interest acreage in the Piceance Basin in western Colorado holds an estimated 35 trillion cubic feet of recoverable natural gas. ExxonMobil is implementing a phased development approach utilizing proprietary technologies such as the Fast Drill Process and Multi-Zone Stimulation.

U p stre a m S t a t i st i c a l R ec a p 2006 2005 2004 2003 2002

Earnings (millions of dollars) 26,230 24,349 16,675 14,502 9,598 Liquids production (thousands of barrels per day) 2,681 2,523 2,571 2,516 2,496 Natural gas production available for sale (millions of cubic feet per day) 9,334 9,251 9,864 10,119 10,452 Oil-equivalent production (thousands of barrels per day) 4,237 4,065 4,215 4,203 4,238 Proved reserves replacement(1)(2) (percent) 129 129 125 107 118 Resource additions(2) (millions of oil-equivalent barrels) 4,270 4,365 2,940 2,110 2,150 Average capital employed(2) (millions of dollars) 57,871 53,261 50,642 47,672 43,064 Return on average capital employed(2) (percent) 45.3 45.7 32.9 30.4 22.3 Capital and exploration expenditures(2) (millions of dollars) 16,231 14,470 11,715 11,988 10,394 (1) Excluding asset sales and year-end price/cost effects. (2) See Frequently Used Terms on pages 44 and 45. E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 19

U p stre a m S tr a te g i es UPSTREAM RETURN ON A VERAGE CAPIT AL EMPLOYED FOR LAYOUT ALIGNMENT Consistent with the long-term nature of the Upstream ExxonMobil Integrated Oil Competitor Average(1) business, ExxonMobil’s four fundamental strategies for (percent) 0.481 our global exploration, development, production, and gas and power marketing activities have remained unchanged 50 from year to year: 40 ➤ Identify and pursue all attractive exploration opportunities; ! 30 CHART ➤ Invest in projects that deliver superior returns; IS IN ➤ Maximize profitability of existing oil and gas production; and, 20 BOTH ➤ Capitalize on growing natural gas and power markets. SAR and F&O 10 These strategies are successfully executed by utilizing ExxonMobil’s global organization, systems, processes, and 0 2002 2003 2004 2005 2006 capabilities across the entire Upstream portfolio to maximize shareholder value. (1) Royal Dutch Shell, BP, and Chevron values are estimated on a consistent basis with ExxonMobil, based on public information. 2006 Results and Highlights Matched best-ever employee safety performance DATA as of 02/10/2007: with lost-time and total recordable incident rates of 0.045 and 0.42 respectively. "XOM" "Ind" Earnings were a record $26.2 billion, up 8 percent from 2005. "2002" 22.3 16 "2003" 30.4 20 Upstream return on average capital employed was 45 percent in "2004"2006, and has averaged32.9 35 23percent over the past five years. We have grown our competitive lead in"2005" this important measure45.7 of performance.26 Earnings per oil-equivalent barrel were $16.96, exceeding those of“2006” our competitor s. 45.3 25 Total liquids and gas production available for sale was 4.2 million oil-equivalent barrels per day, up 4 percent from 2005 and the highest among our competitors. 2006 ExxonMobil F&O 2006 XOM SAR For: Whetstone Design Lab Page in Summary Proved oil and gas reserves additions totaled 2.0 billion oil-equivalent barrels,Eric Whetstone, excluding 214-788-6336 year-end price/cost effects. Annual Report: In 2006 the Corporation replaced 122 percent of production includingFile assetname: 25Asales, 06XOMFO-UpstreamROCE.eps and has replaced 114 percent of production on average over the last five years. Placed file(s): For page: 25A Last updated: 02/10/2007 19A Resource base additions totaled 4.3 billion oil-equivalent barrels in 2006.Updated ExxonMobil’s by: Carol Zuber resource-Mallison base now stands at 74 billion oil-equivalent barrels. ZM GRAPHICS • 214-906-4162 • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Finding and resource-acquisition costs were $0.53 per oil-equivalent barrel,Production consistentnotes: with our five-year average of $0.51 per oil-equivalent barrel. Upstream capital and exploration spending increased to $16.2 billion, driven by an active exploration program, selective investment in a strong portfolio of development projects, and continued investment to enhance the 50 value of existing assets. Ind 40 XOM

U p stre a m C om p et i t i ve A d v a nt a g es 30 Portfolio Quality – The industry’s largest resource base operational integrity and technology form the basis for and a project inventory of over 24 billion oil-equivalent management20 of the Upstream business. barrels provide a portfolio that underpins an attractive Value Maximization – From optimum development long-term outlook. 10 concept selection continuing through mid- and late-life Global Integration – The global, functional Upstream investments0 to increase reservoir recovery, ExxonMobil 2002 2003 2004 2005 “2006” companies work with the Downstream and Chemical maximizes resource value over the life of each asset. businesses to identify and deliver integrated concepts Long-Term Perspective – Consistent, selective that maximize resource value. capital investment and focused technology development Discipline and Consistency – Rigorous exploration throughout the commodity price cycle ensure robust assessment, project management, and production investments that reward shareholders over the optimization combined with a consistent focus on long term.

20 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Identify and Pursue All Attractive Exploration Opportunities ExxonMobil’s Exploration Company is organized to identify, evaluate, pursue, and capture all high-quality exploration opportunities. ExxonMobil’s gross undeveloped exploration acreage totaled 105 million acres in 31 countries at year-end 2006. This geographically and geologically diverse, high-quality portfolio balances risk and reward to deliver both near-term production and long-term resource growth. g R O w i n g the R esource B a se The success of our approach is demonstrated by the addition of an average of 3.2 billion oil-equivalent barrels to the resource base per year over the past five years. The result is a resource base of 74 billion oil-equivalent barrels. Finding and resource-acquisition costs have averaged

$0.51 per oil-equivalent barrel over the past five years. In 2006 ExxonMobil added 4.3 billion oil-equivalent barrels of new resources to our industry-leading resource base. RESOURCE BASE ( 1 ) Proved Non-proved FOR LAYOUT ALIGNMENT (billions of oil-equivalent barrels at year end) 2 0 0 60.481 E x p l or a t i on a n d R esource C a p ture M i l estones 1996 ➤ Acquired a 28-percent interest in the Upper Zakum field 2006 in Abu Dhabi 0 10 20 30 40 50 60 70 80 ➤ Captured two! additional exploration blocks offshore CHART (1) See Frequently Used Terms on pages 44 and 45. Western AustraliaIS IN

D i sc i p l i ne d A p p ro a ch to p R O V E d R eserves ➤ ParticipatedFO in the Chandon-1 gas discovery offshore All reserves additions and revisions follow a rigorous and WesternAS Australia 28A structured management review process that is stewarded ➤ Acquired acreage in three separate tender rounds onshore by a team of experienced reserves experts with global western Canada responsibility. ExxonMobil has added over 18 billion oil- DATA as of 02/08/2007: equivalent barrels to proved reserves over the past 10 years, ➤ Awarded the deepwater Surumana Block in the Makassar replacing 115 percent"Proved" of production. "Non-proved" Total proved reserves Strait in the 2005 Indonesian bid round of"Y ear22.7 end billion 1996" oil-equivalent 20.3 barrels44.0 would yield 14.2 years of ➤ production"Estimate 2006" at current 22.7 levels. 51.2 Signed a new joint operating agreement with Pertamina for the Cepu Block in Indonesia PROVED RESERVES FOR LAYOUT ALIGNMENT FINDING AND RESOURCE– REPLACEMENT ( 1 ) ➤ Acquired 80-percent interest in five deepwater Porcupine ACQUISITION COST (percent of annual production replaced Basin0.611 blocks offshore Ireland (dollars2006 per oil-equivalentExxonMobil barrel) SAR with proved reserves additions) For: Whetstone Design Lab ➤ Increased interest in the developing Tyrihans field offshore Eric Whetstone, 214-788-6336 0.70 125 Norway to 12 percent File name: S20A 06XOMSAR-ResourceBase.eps 0.60 Placed file(s): ➤ Acquired 50-percent! equity and operatorship of SC-56 100 CHARTS For page: 20A SAR 0.50 Last updated: 02/22/2007 Block inARE the INPhilippines Updated by: Carol Zuber-Mallison 0.40 75 ZM GRAPHICS • 214-906-4162 • [email protected] ➤ AcquiredF&O 50-percent interest in the 2.2-million-acre Block 2 (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil 0.30 concessionon 28B onshoreC Qatar 50 Production notes: 0.20 ➤ Signed agreement with the State of Qatar to expand the 25 0.10 Al Khaleej domestic gas project in Qatar

0 0 ➤ Acquired 11,000 acres and initiated drilling on six wells 2006 5-Year 10-Year 2006 5-Year 10-Year Non-proved Year end 1996Average Average Average Average in the BarnettProved Shale play in the Dallas-Fort Worth area

Estimate 2006 (1) Includes asset sales, excludes year- ➤ Awarded seven leases in the Gulf of Mexico Central 10 20 end30 price/cost40 effects.50 See Frequently60 70 80 Lease Sale 198 0 Used Terms on pages 44 and 45.

DATA as of 02/08/2007: DATA as of 02/02/2007: “2006” 0.53 “2006” 122 “5-year” 0.51 “5-year” 114 “10-year” 0.66 “10-year” 115

2006 ExxonMobil SAR For: Whetstone Design Lab Eric Whetstone, 214-788-6336 File name: S20BC 06XOMSAR-ResourcePair.eps Placed file(s):

Production notes:

125

0.6 100 0.5

0.4 75

0.3 50

0.2

25 0.1

0.0 0 “2006” “5-year” “10-year” “2006” “5-year” “10-year” E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 21

Invest in Projects that Deliver PROJECT EXECUTION PERFORMANCE Projected cost and schedule Actual facilities cost Actual schedule Superior Returns FOR LAYOUT ALIGNMENT ExxonMobil has a development portfolio that is expected to (percent) 0.481 ultimately develop more than 24 billion oil-equivalent barrels 120 (net). The company continues to demonstrate an ability to deliver superior returns from development projects through 100 disciplined investment, industry-leading project execution, ! and a suite of relevant proprietary technologies. 80 CHART IS IN p R O j ect E x ecut i on 60 BOTH SAR and F&O The competitive advantage we have built in project execution is multifaceted. Our project portfolio size and the experience 40 of our people, developed by working on many projects of 20 similar types across the world, provide ExxonMobil with the capacity to effectively execute today’s mega-projects. Our 0 functional organization facilitates a very disciplined approach 2006 5-Year Average to project management as well as the swift transfer of lessons P roject Execution Excellence learned and best practices. The ExxonMobil Capital Project The professionalism, organization, and experience of System, or EMCAPS, is utilized to systematically manage ExxonMobil’sDATA as of 01/27/2007: workforce result in the delivery of on-time project investments across the Upstream, Downstream, and and on-budget“Cost” projects. Our“Schedule” 2006 performance was Chemical businesses. It utilizes best-practice work processes, consistent“2006” with100 that of the last104 five years. Over this time tools, expectations, and decision points that are well under- period,“avg” the average100 facilities104 cost of 47 ExxonMobil- stood by the workforce. operated projects came in at the level projected at funding. On average, these projects were brought onstream within p R O j ect T echno l o g i es 5 percent of the timing projected at funding. This repre- Our commitment and investment in technology bring sents industry-leading performance. lower costs and higher reliability through innovative solutions to today’s complex challenges. In the years to come, we 2006 ExxonMobil F&O 2006 XOM SAR For: Whetstone Design Lab Page in Summary expect an evolution in the type of oil and gas resources from d R i l l i Ericn g Whetstone, a n d 214-788-6336 C om p l et i ons Annual Report: which we will be producing and in the physical conditions ExxonMobilFile name: utilizes30A 06XOMFO-ProjectStartup.eps a standard, global well planning in which we will be operating. Many new developments will processPlaced tofile(s): ensure that all wells are optimally designed. be located in more challenging environments that will require This Fordisciplined page: 30A approach guidesLast updated: multifunctional03/02/2007 teams to 21A innovations in technology, playing to ExxonMobil’s strengths. balanceUpdated cost by: Carol optimization Zuber-Mallison and wellbore functionality. During ZM GRAPHICS • 214-906-4162 • [email protected] From our history of over 35 years of LNG technological the design(c) 2007, phase, ZM Graphics all available Usage: Exclusive information rights within ExxonMobil is incorporated, leadership, to the breakthrough Multi-Zone Stimulation and Productionthe well notes is: designed using standards established by Technology completions employed to unlock tight gas, to the Global Drilling Organization. During the execution the improved drilling performance made possible through phase, on-site ExxonMobil personnel along with third-party the application of the Fast Drill Process, our suite of proprietary contractors continually analyze well data to reduce time and technologies facilitates successful development of challenging cost utilizing our Fast Drill Process. Lessons learned from each 120 resources, on-time and on-budget. well are shared throughout the Global Drilling Organization. “Schedule” 100 F AST DRILL PROCESS RESULTS “Cost” (percent increase in feet per day) FOR LAYOUT ALIGNMENT 0.33280 120 60 100 40 80 20 60

0 40 “2006” “avg”

0 Extended-reach drilling practices developed offshore United Eastern Australia Qatar Sakhalin California enabled record-setting performance at Sakhalin-1. Kingdom Canada ! CHART IS IN F&O AS 31C

DATA as of 12/10/2006 (confirmed by EMDC 1/17/06): Eastern Canada 95 United Kingdom 105 Australia 86 Qatar 64 Sakhalin 56

2006 ExxonMobil SAR For: Whetstone Design Lab Eric Whetstone, 214-788-6336 File name: S21B 06XOMSAR-FastDrill.eps Placed file(s):

Production notes:

120

100

0 Canada UnitEasted KingdomAustralia Qatar Sakhalin 22 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Major Development Projects ExxonMobil completed seven major project start-ups in 2006, with seven more planned for 2007. Beyond2006 2007, MAJOR an additional PROJECT 50 majorST AR projectsT -UPS are in various stages of project planning.

Ormen Lange Norway Statfjord Syncrude Norway Upgrader Canada Volve Fram East Norway Norway Waddenzee Azeri-Chirag-Gunashli Netherlands Phase 2 Azerbaijan

Erha/Erha North Country with 2006/2007 2006 Start-Ups Nigeria RasGas Major Project Start-Up Train 5 2007 Projected Start-Ups Qatar East Area AOR Guntong Country with 2006/2007 2006 Start-Ups Nigeria Hub Major Project Start-Up 2007 Projected Start-Ups Malaysia Marimba Rosa 2006 ExxonMobil F&O North Angola For: Whetstone Design Lab Angola Eric Whetstone, 214-788-6336 Dalia Angola 2006 ExxonMobilFile F&O name: 34A 06XOMFO-StartupLegend.eps For: Whetstone Design Lab Eric Whetstone, 214-788-6336Placed file(s): File name: 34A 06XOMFO-StartupLegend.epsFor page: 34A Last updated:02/22/2007 Placed file(s): Updated by: Carol Zuber-Mallison 2 0 0 6 ZMP ROGRAPHICSJ E C T• 214-906-4162 S t a rt - u • [email protected] s For page: 34A Last updated:02/22/2007 Erha /(c) Erha 2007, ZM North Graphics – Usage: These Exclusive operated rights within projects ExxonMobil to develop reduce gas flaring from six fields in the Joint Venture Area Updated by: Carol Zuber-Mallison deepwaterProduction notes: deposits offshore Nigeria commenced production offshore Nigeria. We project peak incremental production ZM GRAPHICS • 214-906-4162 • [email protected] ExxonMobil F&O 2006 XOM SAR (c) 2007, ZM Graphics Usage:in March Exclusive and rights September, within ExxonMobil respectively. Combined, they were to be 120 thousand barrels per day (gross). For: Whetstone Design Lab Page in Summary Eric Whetstone, 214-788-6336 Production notes: producing in excess of 200 thousand barrels per day (gross) Annual Report: File name: 34A 06XOMFO-StartupWorld.eps ! at year end 2006. Erha North set a Nigeria deepwater record Dalia – This deepwater development projectCHART in Block 17 Placed file(s):EPS-2006 StartupWorld.eps with first production within 30 months of discovery. offshore Angola is expected to recover 1IS billion IN barrels of For page: 34A Last updated: 03/02/2007 oil (gross).22A First oil flowed in December, and production is Updated by: Carol Zuber-Mallison BOTH East Area Additional Oil Recovery (AOR) – The AOR ramping up to an expected 225 thousandSAR and barrels F&O per day ZM GRAPHICS • 214-906-4162 • [email protected] project started-up in June(c) 2007, and ZM Graphics is expected Usage: Exclusive to increase rights within oilExxonMobil (gross) peak rate.

recovery by 560 millionProduction barrels notes: of oil equivalent (gross) and Guntong Hub – The Guntong E platform, the first phase of the Guntong Hub development, started up in June. It is anticipated to produce and process over 4 trillion cubic feet of gas for sale in Peninsular Malaysia to help meet increasing domestic gas demand.

Azeri–Chirag–Gunashli (Phase 2) – The project develops the west and east ends of the Azeri field from two additional platforms that came online in January and November, respectively, adding peak production capacity of over 450 thousand barrels per day (gross).

Fram East – As the second phase of the Fram field development, the project scope includes seven subsea wells tied-back to the Troll C platform.

Syncrude Upgrader – Consisting of the addition of a second train at the Aurora oil sands mine and a third coker, Onboard the Erha floating production, storage, and new aromatic saturation unit, and new hydrogen plant at off-loading (FPSO) vessel, among the largest in the world, the project upgrader, the expansion increased capacity by a technician conducts diagnostic checks. 100 thousand barrels of synthetic crude oil per day (gross). E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 23

Kearl Oil Sands – This project will develop a world-class resource in northern Alberta estimated to contain over 4 billion barrels of recoverable resource (gross). Regulatory hearings were completed in 2006.

Greater Gorgon – Front-End Engineering Design for offshore development and two 5-million-tons-per-year LNG trains on Barrow Island was completed at the end of 2006. Engineering optimization, design enhancement studies, and regulatory approval processes continue into 2007.

The LNG ship Tenbek is floated out of the building dock during construction in Korea for the Qatar Petroleum- RasGas Train 5 – The final of a series of three 4.7-million- ExxonMobil joint ventures in Qatar. When delivered in tons-per-year LNG trains, this project has realized cost October 2007, this LNG ship will be the world’s largest, reductions despite a heated market environment, and was with a capacity of 216,200 cubic meters. constructed 15 percent faster than previous trains. First LNG was achieved in November 2006, and the offshore develop- O ther p R O j ects p R O g ress i n g ment for the train’s feed gas started up in January 2007. Sakhalin-1 – Following initial production in 2005, the Chayvo onshore processing facility and oil export facilities, including Qatargas II Train 4 – The first of four record-setting, the DeKastri terminal, were started up in 2006. Also in 2006, next-generation 7.8-million-tons-per-year LNG trains is under a gas export project was progressed with the signing of a construction in Ras Laffan Industrial City. A LNG receiving Heads of Agreement with China National Petroleum Company terminal in Milford Haven, United Kingdom, and Q-Flex LNG for natural gas sales via pipeline to northeast China. The ships, 40 percent larger than conventional ships, are also initial investment in the Chayvo field will be followed by under construction for this integrated LNG project. development of the Odoptu and Arkutun-Dagi fields. Piceance Gas Development – Projects are under way Kizomba C – This project includes the fourth and fifth to significantly increase ExxonMobil’s current 55 million deepwater production hubs in Block 15 offshore Angola cubic feet per day (gross) of natural gas production from to develop three fields. The development includes subsea the nearly 300,000 gross acres under lease in the western completions tied-back to two floating production, storage, Mondo Colorado Piceance Basin, estimated to hold 35 trillion and offloading vessels that are currently under construction. cubic feet of recoverable gas.

Saxi/Batuque FPSO

Subsea Connection

Umbilical

Water Injection

Umbilical

Production Gas Lift Water Injection Umbilical Gas Production Injection Gas Lift

Production

Shown above is a schematic of one of two floating production, A Piceance plant supervisor conducts routine maintenance storage, and offloading vessels planned for Kizomba C, with activities at the Central Treating Facility, where Piceance subsea wellheads, manifolds, and flowlines that span some Basin gas production is processed for sales. 4 to 6 miles on the seafloor in a water depth of 2400 feet.

2006 ExxonMobil SAR For: Whetstone Design Lab Eric Whetstone, 214-788-6336 ! File name: S23A 06XOMSAR-SaxiBatqSchm.eps CHART Placed file(s): IS 47B IN For page: 23A SAR Last updated: 02/22/2007 F&O Updated by: Carol Zuber-Mallison DIFFERENT ZM GRAPHICS • 214-906-4162 • [email protected] SIZE (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Production notes: 24 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Maximize Profitability of UPSTREAM EARNINGS PER BARREL FOR LAYOUT ALIGNMENT ExxonMobil Integrated Oil Competitor Average(1) Existing Oil and Gas Production (dollars per oil-equivalent barrel) 0.481 While continuing to bring new assets online, maximizing the profitability of existing oil and gas production is of paramount 20 importance. This is accomplished by application of cost- effective technology and operations management systems to 15 each and every asset to maximize the commercial recovery of hydrocarbons. 10 ! CHART M a n a g i n g the B a se IS IN ExxonMobil’s asset base is highly profitable and geographi- 5 BOTH cally diverse. Significant emphasis is placed on managing SAR and F&O underlying base performance and opportunity generation 0 to maximize value. We continually invest to increase resource 2002 2003 2004 2005 2006 recovery, maximize profitability, and extend field life. New production volumes are generated through workovers, (1) Royal Dutch Shell, BP, and Chevron values calculated on a consistent basis with drilling new wells, and project implementation. Some assets ExxonMobil, based on public information. may have characteristics favorable for enhanced oil recovery, a technology in which ExxonMobil is a recognized industry gDA RTA O w as i n ofg 02/22/2007: p R O d uct i on leader. Our Upstream business consistently captures higher In 2006 total liquids production was 2.7 million barrels earnings per barrel than our competitors, a reflection of per day. Natural"XOM" gas"Ind" production available for sale totaled "2002" 6.20 4.96 our investment discipline and commitment to excellence 9.3 billion cubic feet per day. New projects and work "2003" 9.45 7.57 in execution. programs more than offset declines in existing mature fields. "2004" 10.81 9.37 Although"2005" 16.41actual production12.52 volumes will vary from year to F ocus i n g on O p er a t i ons i N T E g r i ty year“2006” due to16.96 the timing13.96 of individual projects and unforeseen Operations integrity is fundamental to our success and is a events, production capacity is anticipated to grow through top priority. Our integrity management systems address all 2011. Near-term growth is expected to be led by key liquids aspects of our business and define our global standards for projects2006 offshore ExxonMobil West Africa, F&O Russia, and the Caspian,2006 XOM SAR For: Whetstone Design Lab Page in Summary safe and environmentally sound operations. For example, and fromEric our Whetstone, significant 214-788-6336 gas activities in Qatar. ProductionAnnual Report: our Facility Integrity Management System ensures that critical fromFile North name: America36A 06XOMFO-UpstreamEarnings.eps and Europe is expected to continue to equipment is proactively inspected and maintained consis- providePlaced a file(s): strong, profitable base underpinning our growth. tently throughout its lifecycle. The objective is to eliminate For page: 36A Last updated: 02/22/2007 24A Updated by: Carol Zuber-Mallison critical incidents by pre-empting equipment failure, which Engineers conduct a safety inspection at the Shute Creek ZM GRAPHICS • 214-906-4162 • [email protected] translates to better safety performance, higher production Treating(c) 2007, facility ZM Graphics near La Usage: Barge, Exclusive Wyoming, rights within ExxonMobil which supplies reliability, and lower cost. natural gas to the northern United States, CO2 to oil fields Production notes: for enhanced oil recovery, and helium to customers around the world.

OIL–EQUIV ALENT PRODUCTION OUTLOOK 20 FOR LAYOUT ALIGNMENT BY GEOGRAPHIC REGION Ind Americas Europe Asia Pacific/Middle East 0.792 XOM Africa Russia/Caspian 15 (millions of oil-equivalent barrels per day)

10 5.0

4.0 5

3.0 0 2002 2003 2004 2005 “2006” 2.0

1.0

0 2006 2007 2008 2009 2010 2011

DATA as of 02/23/2007: “Americas” “Euro” “AP/ME” “Africa” “Russ/Casp” “2006” 1195 1201 918 781 142 “2007” 1149 1217 1010 782 184 “2008” 1056 1170 1114 804 223 “2009” 1067 1112 1292 791 259 “2010” 1137 1074 1488 794 254 “2011” 1133 990 1568 864 285

2006 ExxonMobil SAR For: Whetstone Design Lab Eric Whetstone, 214-788-6336 ! STAND- File name: S24B 06XOMSAR-GasByGeo.eps ALONE Placed file(s): CHART For page: S24B SAR Last updated: 02/23/2007 (Not in F&O) Updated by: Carol Zuber-Mallison ZM GRAPHICS • 214-906-4162 • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Production notes:

5000 “Russ/Casp”

4000 “Africa”

“AP/ME” 3000 “Euro” 2000 “Americas”

1000

0 “2006” “2007” “2008” “2009” “2010” “2011” E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 25

Capitalize on Growing GLOBAL GAS DEMAND OUTLOOK Regional Production Pipeline Imports LNG Imports Natural Gas and Power Markets (billions of cubic feet per day) ExxonMobil sells natural gas in 28 countries across five continents in most major gas markets in the world. Our 400 expertise in integrating advanced technologies across the DATA as of 01/23/2007: gas value chain and our market presence and knowledge 300 provide a substantial competitive advantage. Local Production Total Pipelines Total LNG "2000" 222.2 16.9 12.6 N orth a M E R i c a n G a s M a rket 200 "2001" 220.1 17.6 14.1 With gas demand likely to grow about 0.5 percent per year "2002" 228.7 18.3 14.2 "2003" 233.6 19 16.4 on average to 2030, and domestic supply from existing 100 "04" 238.5 19.9 18.4 wells declining, continued investments in existing fields and "05" 239.7 20.7 19.9 new discoveries are required. To this end, ExxonMobil is "06" 244.5 21.2 23 0 expanding development of tight gas in the Piceance Basin 2000 2010 2020 2030 "07" 248.5 21.7 25.2 in Colorado. We also have a leading position in arctic gas "08" 252.4 21.7 29 "09" 254.6 21.1 33.8 resources in the Mackenzie Delta region of northern Canada "2010" 256.2 22.8 36.5 and on the North Slope of Alaska. LNG imports are fore- the South Hook LNG Terminal in Milford Haven,FOR LAYOUT U.K., ALIGNMENT and "11" 259.1 25.4 37.4 cast to play an increasingly important role. ExxonMobil is the offshore Adriatic LNG Terminal in Italy. Both terminals "12" 260.3 27.9 39.9 participating in the building of the Golden Pass regasification are expected to begin operation in 2008 0.635with a combined "13" 262.7 29.3 43.2 terminal along the U.S. Gulf Coast, with a planned capacity planned capacity of 2.8 billion cubic feet of gas per day. "14" 265.9 32.1 44.1 "2015" 266.5 36.7 45.6 of 2 billion cubic feet of gas per day. "16" 267.8 39.6 47.6 a S i a P a c i f i c G a s M a rket "17" 270 41.4 49.5 E uro p e a n G a s M a rket Asia Pacific2006 gas ExxonMobil demand is expected SAR to grow faster than "18" 271.5 43.3 52.1 European gas demand is expected to grow at about any otherFor: regionWhetstone of Designthe world Lab at about 3.7 percent per year ! "19" 273.4 45.5 54.3 Eric Whetstone, 214-788-6336 STAND- "2020" 275.5 46.2 57.2 1.5 percent per year through 2030 while local production of throughFile 2030, name: drivenS25A 06XOMSAR-LNGprodctn.epsby the developing economies of Asia. ALONE "21" 277.1 48.1 58.5 natural gas is anticipated to begin declining in the next few ExxonMobil is among the largest suppliers in local markets Placed file(s): CHART "22" 279.5 48.3 60.5 years. This will result in a rapid increase in the need for supplies of Australia and Malaysia, and also provides local supplies For page: S25A SAR Last updated: 01/28/2007 (Not in F&O) "23" 281.4 49.3 62.3 from new LNG and pipeline projects. ExxonMobil is involved to marketsUpdated in by:Thailand,Carol Zuber Indonesia,-Mallison Japan, and far east Russia. "24" 283.9 50.3 63.5 in multiple field developments in the North Sea, including the LNG operationsZM GRAPHICS in Indonesia • 214-906-4162 and •Qatar [email protected] in which ExxonMobil "2025" 286.3 50.7 65.3 Ormen Lange and Statfjord Late Life projects. The company participates(c) are 2007, major ZM Graphics exporters Usage: Exclusive of LNG rights withinto Japan, ExxonMobil South "26" 288 51.8 66.4 Production notes: "27" 289.8 53 67.3 has access to new pipeline capacity in the Langeled pipe- Korea, India, and Taiwan. Additional opportunities are being "28" 291.4 53.9 68.7 line from Norway to the U.K. and the BBL pipeline from the progressed in the Middle East, Australia, Indonesia, Russia, "29" 292.8 55.4 69.6 Netherlands to the U.K. To meet the growing demand for and Papua New Guinea, as well as an LNG terminal in "2030" 294.7 58.1 68.9 LNG in Europe, ExxonMobil and its partners are constructing Hong Kong.

400 g l O b a l L N G Total LNG Global LNG demand is expected to grow Total Pipelines at more than 5 percent per year 300 through 2030, driven by demand Local Production in North America and Europe ! 200 CHART as well as Asia Pacific markets. IS IN By 2030, LNG demand is expected to 100 Qatar BOTH represent about 16 percent of the world’s SAR and F&O gas demand. 0 20002001200220030405060708092010111213142015161718192020212223242025262728292030 ExxonMobil is currently participating in LNG operations Nigeria Arun in Qatar and Indonesia with a combined gross capacity Gorgon/ of 35 million tons per year, supplying LNG to markets in Scarborough Asia, Europe, and North America. This represents about 20 percent of global industry capacity. Construction is progressing in Qatar on four additional LNG trains that will increase gross capacity by 30 million tons per year. Major LNG Market Existing Production / Terminal LNG Production Facility In addition, ExxonMobil is progressing LNG opportunities (Existing and Target) New Production /Terminal LNG Terminal that include additional trains in Asia Pacific and West Africa. Anticipated Supply Flow

2006 ExxonMobil F&O 2006 XOM SAR For: Whetstone Design Lab Page in Summary Eric Whetstone, 214-788-63362006 ExxonMobil F&O Annual Report: File name: 39A 06XOMFO-LNGWFor: Whetstoneorld.eps Design Lab Eric Whetstone, 214-788-6336 Placed file(s):EPS-LNGWorld.eps File name: 39A 06XOMFO-LNG Legend.eps For page: 39A Last updated: 02/02/2007 Placed file(s): 25B Updated by: Carol Zuber-Mallison For page: 39A ZM GRAPHICS • 214-906-4162 • [email protected] Last updated:02/22/2007 (c) 2007, ZM Graphics Usage:Updated Exclusive by: rightsCarol within Zuber ExxonMobil-Mallison ZM GRAPHICS • 214-906-4162 • [email protected] Production notes: (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Production notes: Refining & Supply, Fuels Marketing, and Lubricants & Specialties downstream Our Baton Rouge refinery realizes significant yield advantage by optimizing streams exchanged between fuels, chemical, lubes and specialties facilities. Over 75 percent of our refineries benefit from similar integration and optimization.

d O w nstre a m S t a t i st i c a l R ec a p 2006 2005 2004 2003 2002

Earnings (millions of dollars) 8,454 7,992 5,706 3,516 1,300

Refinery throughput (thousands of barrels per day) 5,603 5,723 5,713 5,510 5,443

Petroleum product sales(1) (thousands of barrels per day) 7,247 7,519 7,511 7,270 7,075

Average capital employed (millions of dollars) 23,628 24,680 27,173 26,965 26,045

Return on average capital employed (percent) 35.8 32.4 21.0 13.0 5.0

Capital expenditures (millions of dollars) 2,729 2,495 2,405 2,781 2,450

(1) Petroleum product sales data are reported net of purchases/sales contracts with the same counterparty. E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 27

d O w nstre a m S tr a te g i es DOWNSTREAM RETURN ExxonMobil’s Downstream is a large, diversified, and profitable O N A VERAGE CAPIT AL EMPLOYED FOR LAYOUT ALIGNMENT business, with marketing presence and refining complexes the ExxonMobil Integrated Oil Competitor Average(1) world over. Our Downstream strategies position the company (percent) 0.635 to be the industry leader, capable of outperforming the competition under a variety of market conditions: 40 35 ➤ Maintain best-in-class operations, in all respects 30 ! ➤ Provide quality, valued products and services to 25 CHART IS IN our customers 20

15 BOTH ➤ Lead industry in efficiency and effectiveness SAR and F&O 10 ➤ Capitalize on integration with other ExxonMobil businesses 5 ➤ Selectively invest for resilient, advantaged returns 0 ➤ Maximize value from leading-edge technology 2002 2003 2004 2005 2006

Execution of these strategies combined with overall operations (1) Royal Dutch Shell, BP, and Chevron values are estimated on a consistent basis excellence continues to deliver superior results. Our financial with ExxonMobil, based on public information. objectives in the Downstream can be summarized into three broad areas – margin enhancement, cost efficiency, and capital discipline.DATA as of 02/10/2007: "XOM" "Industry" "2002" 5.0 2 2006 Results and Highlights "2003" 13.0 8 Continued leadership in safety, reliability, scale, and technology contributed"2004" 21 to our best-ever17 financial performance and superior operating results. "2005" 32.4 17 “2006” 35.8 18 Earnings were a record $8.5 billion, up 6 percent versus 2005. NOTE: Excludes total S.A.

More than $2 billion of pretax operating cost efficiencies and revenue enhancements were achieved. We have delivered an 2006 ExxonMobil F&O 2006 XOM SAR average of $1.7 billion in pretax improvements per year since 2001 through improvements delivered through our industry-leading For: Whetstone Design Lab Page in Summary proprietary technology, scale, and collaboration via our global functional organization.Eric Whetstone, 214-788-6336 Annual Report: File name: 65A 06XOMFO-DownstrmROCE.eps Downstream capital expenditures were $2.7 billion in 2006, up morePlaced than file(s): 9 percent versus 2005, reflecting additional investment required to meet low-sulfur fuel and regulatory requirements.For page: 65A Last updated: 02/10/2007 27A Updated by: Carol Zuber-Mallison Return on capital employed was 36 percent, up from 32 percent in 2005.ZM GRAPHICS • 214-906-4162 • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Refinery throughput was 5.6 million barrels a day, down 2 percent versusProduction 2005, notes: reflecting increased turnaround workload.

Petroleum product sales continued to be strong at 7.2 million barrels per day, largely due to industry demand and operating performance.

40 Industry 35 XOM d O w nstre a m C om p et i t i ve A d v a nt a g es 30 Portfolio Quality – We are the world’s largest global refiner, Discipline25 and Consistency – Our processes and efficient execution have established us as an industry leader in manufacturer of lube basestocks, and supplier and marketer 20 of petroleum products. Our large, world-class facilities are operations excellence and cost effectiveness. 15 located in major markets around the world. Value10 Maximization – Our molecule management Global Integration – Over 75 percent of our refining capacity technology5 allows us to optimize raw materials, maximize is integrated with lubes and/or chemicals. Our global premium products, and optimize product placement. 0 functional organization delivers efficient development and 2002 2003 2004 2005 “2006” Long-Term Perspective – We maintain a disciplined capital deployment of best practices and new technology. approach focused on selective and resilient investments that build on our advantages. 28 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Refining & Supply O p er a t i ons E x ce l l ence Our goal is flawless operations. We continuously strive to ExxonMobil’s network of reliable and efficient manufacturing improve personnel and operations safety, security, operations plants, transportation systems, and distribution centers reliability, environmental performance, and business controls. provides clean fuels, lubricants, and other high-value We rely on the commitment of our people, global manage- products and feedstocks to customers around the world. ment systems, networks, and business planning processes Our global supply organization optimizes our system – the to continuously improve performance. For example, our supply of raw materials to our refineries, products supplied Operations Integrity Management System (OIMS) framework to our customers, and Upstream equity crude placement. establishes common worldwide expectations for mitigating operations integrity risks that are inherent in our business. Our proven business model is founded on continuous Our processes and efficient execution have established us operations improvement, leveraging our global scale and as an industry leader in operations excellence. integration to improve margins and deliver cost efficiencies, and a disciplined capital investment program to meet demands for high-quality products. Our scale, integration, G l o b a l S c a l e A N D i N T E g r a t i on We are the world’s largest global refining company, with the global functional organization, and technical capabilities most distillation, conversion, and lube basestock production combine to provide us with significant competitive advantages capacity. On average, our refineries are over 60 percent versus industry. These structural advantages are difficult for larger than the industry average, and are more integrated competitors to duplicate, and we leverage these advantages with chemical and lubes operations. This provides us to yield results better than industry. flexibility to optimize operations and to produce higher-value products with lower feedstock and operating costs. E Q U I T Y C A P ACIT Y ( 1 ) Distillation Conversion(2) (indexed) i N C R E a s i n g S h a reho l d er V a l ue We improveFOR LAYOUT returns ALIGNMENT and create shareholder value by 100 maximizing0.493 utilization of refining capacity, economically growing capacity, reducing the cost of raw materials 80 purchased, and improving yields of high-value products.

60 We increase refinery! utilization and throughput by improving reliability, eliminatingCHART constraints, shortening the time required 40 to completeIS turnarounds, IN optimizing intervals between down- times, andBOTH expanding market outlets. Our improvements 20 are drivenSAR by and the F& disciplinedO application of management systems such as our Global Reliability System and our 0 ExxonMobil Royal Dutch Shell BP Molecule Management Program.

(1) Royal Dutch Shell and BP values calculated on a consistent basis with ExxonMobil, We expanded distillation capacity at our Antwerp, Belgium, based on public information. refinery by over 20 thousand barrels per day via low-cost (2) Conversion capacity includes cat cracking, hydrocracking, and coking. debottlenecking steps. On average, we have added the capacity of a new industry-average-size refinery every three years. REFINER Y I N T E G R A TION WITH CHEMICALS OR LUBES ( 1 ) FOR LAYOUT ALIGNMENT (percent) 0.332 DATA80 as of 02/10/2007: "Distillation" "Conversion" "XOM" 100 38.3 70 "Shell" 83 26.5 "BP" 55 23.3 ! 60 CHART IS IN 2006 ExxonMobil F&O 2006 XOM SAR BOTH 50 For: Whetstone Design Lab Page in Summary SAR and F&O Eric Whetstone, 214-788-6336 Annual Report: File name: 66A 06XOMFO-EquityCapacity.eps 40 Placed file(s): ExxonMobil Royal Dutch Shell BP Industry For page: 66A Last updated: 02/22/2007 28A (1) UpdatedRoyal Dutch by: Carol Shell, ZuberBP, and-Mallison Industry values calculated on a consistent basis with ExxonMobil,ZM GRAPHICS based on public • 214-906-4162 information. • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Production notes:

DATA as of 02/22/2007:

"XOM" 75.2 "Shell"100 67.2 "BP" 48.9 Conversion "Industr80 y" 58.4 Distillation

200660 ExxonMobil F&O 2006 XOM SAR For: Whetstone Design Lab Page in Summary 40Eric Whetstone, 214-788-6336 Annual Report: File name: 66B 06XOMFO-RefIntegration.eps Placed20 file(s): For page: 66B Last updated: 02/22/2007 28B Updated0 by: Carol Zuber-Mallison ZM GRAPHICSXOM • 214-906-4162 • [email protected] BP (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Production notes:

40 XOM Shell BP Industry E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 29

REFINING ENERGY INTENSITY ExxonMobil Industry FOR LAYOUT ALIGNMENT (indexed Solomon data)(1) 0.635 104

102

100

92 2000 2002 2004 2006 Furnace optimization is one example of how our Global Energy Management System is applied to improve energy efficiency. (1) Solomon data available for even years only.

ENERGY INTENSITY ! We employ advanced molecular fingerprinting and modeling i N V E S TDAi nTAg as F or of 02/20/2007:A d v a nt a g e d R eturns CHART IS IN technologies that improve our understanding of the behavior Refining & Supply "XOM"capital expenditures"Industry" are focused on F&O and characteristics of materials moving through our refineries. selective"2000" and resilient 100 investments102.3725 to meet future product AS 68AB This technology enables us to precisely select and blend crudes quality requirements,"2002" 98.932 reduce 101.3049environmental impact, further DIFFERENT that will produce the highest margins through our operating upgrade "2004"safety systems,95.255 lower99.6441 operating costs, and produce HED "2006" 93.1198 facilities. Our Molecule Management technology enables higher-value products and chemical feedstocks using us to optimize the composition of our products in real time lower-cost raw materials. and maximize yields of high-value products. We also realize a sizable yield advantage from our ability to optimize many We2006 also implementExxonMobil projects SAR that enhance refinery capacity For: Whetstone Design Lab product and feedstock streams and exchanges between and yield.Eric Whetstone, By investing 214-788-6336 primarily in low-cost debottleneck chemical and/or lubricants and specialties operations. steps,File name: we haveS29A effectively06XOMSAR-EnergyUse.eps added a new industry-average sizePlaced refinery file(s): to our portfolio every three years and an

O p er a t i n g E ff i c i enc i es average-sizeFor page: S29A conversion unitLast everyupdated: year,02/23/2007 at a fraction In addition to improving margins, we also increase returns of Updatedgrassroots by: Carol cost. Zuber-Mallison by becoming more efficient. An ongoing focus on being the ZM GRAPHICS • 214-906-4162 • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil most efficient in all aspects of the business has resulted in E mer g i n g M a rket g R O w th worldwide cash operating costs at our refineries that are World-classProduction notes: scale and integration, industry-leading efficiency, substantially below the industry average. leading-edge technology, and globally respected brands enable ExxonMobil to take advantage of attractive emerging- A key contributor to our better-than-industry cost perfor- growth opportunities around the globe. 104 mance is improved energy efficiency. In 2006 we sustained Industry our improvement trend, and have been improving our energy For 102example, our assets are well-positioned and configured XOM efficiency at a rate about twice that of industry. ExxonMobil’s to supply liquids demand growth in Asia Pacific, which we proprietary Global Energy Management System (GEMS) estimate100 will average over 2 percent growth annually through focuses on opportunities that reduce the energy consumed 2030. Together with Saudi Aramco, Sinopec, and Fujian at our refineries and chemical complexes. Approximately Province,98 we recently announced the signing of contracts $1.5 billion of annual pretax savings has been identified to for the first fully-integrated refining, petrochemicals, and 96 date, equal to 15 to 20 percent of the energy consumed at fuels marketing joint-venture projects with foreign participa- tion in China. The project expands an existing refinery from our refining and chemical facilities. As of year-end 2006, we 94 have captured over 50 percent of these savings. We also 80 thousand barrels per day to 240 thousand barrels per day

and installs92 a world-scale integrated chemical plant. There continue to make significant investments in cogeneration 2000 2002 2004 2006 facilities, which simultaneously produce electric power and will be a paired fuels marketing joint-venture that will include steam. In addition to improving efficiency, our GEMS system approximately 750 retail sites. The integrated approach, and cogeneration decrease greenhouse gas emissions. combined with leading technology, scale, and world-class operations positions this project to be highly competitive in the growing China market. 30 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Fuels Marketing ExxonMobil Fuels Marketing continues to create long-term value by selling high-quality products and services to millions of customers each day across the globe. Our respected Exxon, Mobil, Esso, and On the Run brands serve customers on the move at nearly 34,000 retail service stations. ExxonMobil fuel products and services are also provided through our three business-to-business segments – Industrial and Wholesale, Aviation, and Marine – to over 1 million customers worldwide. Convenience, quality, and value are provided to customers Fuels Marketing provides a ratable and secure outlet for our at approximately 34,000 retail service stations. refineries and continues to be well-positioned to successfully compete in a dynamic and competitive marketplace by main- are prioritized through a rigorous, disciplined, and globally taining focus on key business fundamentals: superior safety consistent market-planning process using sophisticated and environmental performance, operating efficiencies from tools and models to assess factors such as customer our global scale and integration, disciplined capital manage- demographics and preferences. Our selective investment ment, and customer focused marketing initiatives. approach is complemented by equally selective divestments that highgrade our asset base and optimize returns. This O p er a t i n g E ff i c i enc i es a n d i N T E g r a t i on disciplined approach has reduced our number of retail We continue to leverage integration between our marketing service stations by nearly 20 percent and improved our and refining businesses. Downstream cross-functional teams capital efficiency by 13 percent since 2002. focus on optimizing product placement across the broad spectrum of customer segments to capture the highest value g R O w i n g N onfue l s i N C O M E for our refined molecules. Highgrading sales to higher-value Fuels Marketing offers a portfolio of innovative market specific channels increased fuels income by over $100 million in 2006. retail formats and products to fully meet our customers’ needs and expectations by delivering convenience, quality, Operating efficiencies continue to be captured from the global and value. Further increasing nonfuels income continues to application of innovative technologies, centralization of support be one of the key priorities to optimize retail site profitability. activities, and simplification and automation of work processes. In 2006 the combined impact of our efficiency initiatives In certain markets, we use strategic alliances with leading reduced ongoing operating expenses by $150 million. food and grocery marketers to complement our brand and enhance our convenience store offering by leveraging the D i sc i p l i ne d C a p i t a l M a n a g ement strength of our partners’ brand value, expertise, and distribu- The Fuels Marketing capital management strategy combines tion network. Examples include our alliances with Tesco in the selective investments and ongoing portfolio highgrading United Kingdom and Thailand, Doutor and 7-Eleven in Japan, to optimize the profitability of our business. Investments NTUC Fairprice in Singapore, and Tim Hortons in Canada.

ExxonMobil offers its premium products around the world at sites featuring our award-winning On the Run convenience store format and our three trusted brands: Exxon, Mobil, and Esso. E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 31

LUBRICANT MARKET SHAR E ( 1 ) Lubricants & Specialties FOR LAYOUT ALIGNMENT ExxonMobil is the world’s No. 1 supplier of lube basestocks Basestocks Finished Lubes and a leader in marketing finished lubricants and specialty (percent) 0.481 products. We market products under three strong global 20 brands, Mobil, Exxon, and Esso. Anchoring these brands is Mobil 1, the world’s leading synthetic motor oil. Many leading original equipment manufacturers around the 15 world trust us to deliver technically superior products that provide the lubrication they need to protect and keep their 10 vehicle engines and industrial machines running at peak performance. We have a dedicated organization and strong 5 distributor network that supply high-quality lubricants and provide technical application expertise to customers ! throughout the globe. 0 CHART ExxonMobil Royal Dutch Shell BP IS IN We produce high-quality basestocks through interests in BOTH 13 lubricant refineries, supplying twice the volume as that (1) Royal Dutch Shell and BP values estimated based on public information. SAR and F&O of our next-largest competitor, and we manufacture our three brands of finished lubricants through interests in 48 blend In 2006 we expanded our new line of high-endurance motor plants around the world. oilsDATA in asMexico. of 02/10/2007: Mobil 1 ESP, a low-ash lubricant for diesel engines that prolongs“Basestocks” life of emission systems,“Finished was Lubes” l E V E R a g i n g O ur b R a n d a N d T echno l o g y introduced“XOM” into the United19.5 States following12.7 a successful Customers rely on our high-quality finished lubricants to serve 2005“Shell” launch in Europe.9.0 12.7 their automotive, industrial, commercial transportation, aviation, “BP” 1.0 8.4 and marine needs. Our branded products have demonstrated S tr a te g i c G l o b a l A l l i a nces the ability to withstand performance stresses, including those Globally respected brands and industry-leading technology 2006 ExxonMobil F&O 2006 XOM SAR of motorsports racing such as NASCAR, American LeMans, enable ExxonMobil to build long-lasting and successful For: Whetstone Design Lab Page in Summary and Formula 1, and are backed by technical services strategicEric global Whetstone, alliances 214-788-6336 with automotive and industrialAnnual Report: designed to provide customers with worry-free operations. equipmentFile name: manufacturers.72A 06XOMFO-LubeMrktShr.eps Placed file(s): In 2006For page: ExxonMobil72A celebratedLast updated: 10 years02/23/2007 of partnership with 31A Updated by: Carol Zuber-Mallison Porsche. Porsche recommends Mobil 1 motor oil exclusively, ZM GRAPHICS • 214-906-4162 • [email protected] and every(c) 2007, new ZM Graphics Porsche Usage: automobile Exclusive rights rolls within offExxonMobil the assembly line

filledProduction with notesMobil: 1 oil.

g R O w th i n p R O F i t a b l e E mer g i n g M a rkets As economies around the world develop and industrialize, they bring20 a demand for high-quality industrial and automotive lubricants. For example, in China and Russia, “Finished Lubes” we have leveraged our well-recognized brands, strong “Basestocks” equipment15 manufacturer relationships, and technical expertise to become a leading international lubes marketer in those markets.10 In these two countries alone, we have grown our business nearly two-fold since 2000.

5 Mobil 1 motor oil continues to increase its market share as demand for high quality lubricants grows. Mobil 1 is the 0 recommended“XOM engine” oil for more“Shell” than 50 percent“BP ”of new luxury vehicles in the North American market. No other motor oil holds as many engine specification approvals, endorsements, or recommendations.

In 2006 ExxonMobil increased its Mobil 1 production capacity in Beaumont, Texas, to meet the growing demand for our flagship product. chemical The Mont Belvieu Plastics Plant, located outside of Houston, Texas, is a leader in the development of advanced polyolefin catalyst and process technology. The site plays a key role enabling premium product growth for the polyethylene business.

C hem i c a l S t a t i st i c a l R ec a p 2006 2005 2004 2003 2002

Earnings (millions of dollars) 4,382 3,943 3,428 1,432 830

Prime product sales (1) (thousands of metric tons) 27,350 26,777 27,788 26,567 26,606

Average capital employed (millions of dollars) 13,183 14,064 14,608 14,099 13,645

Return on average capital employed (percent) 33.2 28.0 23.5 10.2 6.1

Capital expenditures (millions of dollars) 756 654 690 692 954

(1) Prime product sales include ExxonMobil’s share of equity company volumes and finished-product transfers to the Downstream. Carbon-black oil volumes are excluded. E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 33

C hem i c a l S tr a te g i es CHEMICAL OUTPERFORMED COMPETITION FOR LAYOUT ALIGNMENT ExxonMobil Chemical continues to produce superior returns ACROSS THE BUSINESS CYCLE and earnings growth through the effective implementation Return on Average Capital Employed 0.787 of our fundamental strategies. Proven over several decades, ExxonMobil Major Chemical Competitors(1) they reflect our ongoing commitment to the petrochemical (percent) business: 35 ! ➤ Focus on businesses that capitalize on core competencies; CHART 30 IS IN ➤ Capture full benefits of integration across ExxonMobil 25 operations; BOTH 20 SAR and F&O ➤ Consistently deliver best-in-class performance; 15 ➤ Build proprietary technology positions; and, 10

➤ Selectively invest in advantaged projects. 5

Together with the integrity of our business practices and 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 operations, these strategies remain the foundation for our business, and ultimately, our performance. (1) Includes the chemical segments of Royal Dutch Shell, BP (through 2004), and Chevron, as well as Dow Chemical, the sole chemical-only competitor with a significant portfolio overlap. Competitor values are estimated on a consistent basis 2006 Results and Highlights with ExxonMobil, based on public information. Operational performance continued to be strong with best-ever results in safety and energy efficiency. DATA as of 02/23/2007: Earnings were a record $4.4 billion, up 11 percent versus 2005. ExxonMobil continued"XOM" to "Competitors"benefit from our unique business portfolio, global presence, and feedstock and integration advantages."1995" 33.9 21.9 "1996" 15.3 14.3 Return on average capital employed reached 33 percent, up from"1997" 28 percent 17.3 in 2005. ExxonMobil12.8 Chemical returns continue to exceed the average of our major chemical competitors. While"1998" making 12.9 substantial 5.8 investments to support long- term growth, our chemical segment achieved an average return of 16"1999" percent over10.9 the last 108.1 years. During this period, our competitors averaged 8 percent. "2000" 8.4 8.0 "2001" 6.4 2.3 2006 prime product sales volume of 27 million tons was 2 percent"2002" higher than6.1 2005. Revenue3.3 of $49 billion increased 14 percent from 2005. "2003" 10.2 4.3 "2004" 23.5 6.0 Plans were announced for a proposed major petrochemical complex"2005" in Qatar28.0 with Qatar15.6 Petroleum. In addition, a feasibility study was begun with Saudi Basic Industries Corporation“2006” (SABIC) to33.2 define a potential14 project to grow our existing joint petrochemical ventures at Yanbu and Al Jubail. 2006 ExxonMobil F&O 2006 XOM SAR Capital expenditures were $756 million with continued selective investmentFor: Whetstone targeting Design high-returnLab efficiency projects, Page in Summary Eric Whetstone, 214-788-6336 Annual Report: low-cost debottlenecks, and growth of our profitable specialty businesses.File name: In addition,81A 06XOMFO-ChemROCE.eps significant progress was made in advancing our study of a second, parallel petrochemical train at our SingaporePlaced file(s): complex. For page: 81A Last updated: 02/23/2007 33A Updated by: Carol Zuber-Mallison ZM GRAPHICS • 214-906-4162 • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil CHEM I C a l C om p et i t i ve A d v a nt a g es Portfolio Quality – Our unique mix of chemical businesses ValueProduction Maximization notes: – Our proprietary technology has delivers superior performance relative to competition successfully led to the development and growth of higher- throughout the business cycle. valued premium products in both our commodity and 35 specialty businesses. Competitors Global Integration – Synergies with Upstream and 30 Downstream operations continue to be identified and Long-Term Perspective – Through a highly structured XOM realized. Benefits are derived from the physical integration capital25 management approach, we invest only in projects of sites, coordinated planning, global networks, feedstock that20 can compete in the toughest environments based integration, and shared services and best practices. on feedstock, technology, or marketing advantages. 15 Discipline and Consistency – Our consistent and relentless 10 focus on all aspects of operational excellence has produced industry-leading practices and systems. 5 0 19951996199719981999200020012002200320042005“2006” 34 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

Fundamental Strategies rates more than double that of our overall business, Through consistent deployment of our long-term strategies, the success of these premium products is underpinned we have demonstrated differentiated performance that by extensive customer application support, proprietary has strengthened our position as a premier petrochemical technology, and strong intellectual property positions. company. C a p ture F u l l b E N E F i ts of i N T E g r a t i on F ocus on b U S i nesses th a t a C R O S S E x x onmo b i l O p er a t i ons C a p i t a l i z e on core com p etenc i es Over 90 percent of the chemical capacity that ExxonMobil ExxonMobil’s unique portfolio of chemical businesses has owns and operates is integrated with the company’s large been developed over many years based on fundamental refining complexes or natural gas processing plants. competitive advantages. In addition to the flexibility and cost savings that physical The company holds leadership positions for some of the integration of sites affords, optimization of feedstock and largest-volume and highest-growth petrochemicals in the global production plans through sophisticated models provides economy. We are one of the largest producers of olefins, the sustained advantages. At these joint sites, maintenance, basic petrochemical building blocks for numerous derivative laboratory, engineering, and other services are shared. products. ExxonMobil is also the largest worldwide producer More broadly, best practices in safety, reliability, and training of polyolefins, including polyethylene and polypropylene, which are transferred globally across all organizations. are used in numerous areas ranging from food packaging to automotive and medical applications. ExxonMobil’s breadth of experience and commitment across the upstream, downstream, and petrochemical In addition, the company is one of the largest global businesses are demonstrated sources of competitive producers of paraxylene and benzene. Paraxylene is one of advantage. In addition, our petrochemical technology, the fastest-growing petrochemicals and the main raw mate- market understanding, and applications expertise enable rial for polyester fibers and polyethylene terephthalate (PET) the Corporation to offer potential partners and host recyclable bottles. Benzene is a primary building block for a governments a comprehensive, integrated approach to broad array of products ranging from nylon to polystyrene. major project development.

The company has a similar leadership presence in a diverse C ons i stent ly focus on set of specialty businesses, composed of product families b est - i n - c l a ss p erform a nce that deliver higher value through advanced performance. The company maintains a consistent and relentless focus These businesses are grounded in proprietary technology, on operational excellence. Through many years of effort, benefit from synergies across business lines, and are strong business practices and systems have been developed to performers throughout the business cycle. ensure the uncompromised integrity of our operations and delivery of industry-leading performance. Throughout ExxonMobil’s commodity and specialty businesses, a key focus area is the continued upgrade ExxonMobil’s Fluids operation in Antwerp, Belgium, supplies of products to meet evolving customer needs. With growth premium products to a number of key markets and benefits from integration with the company’s large refining complex.

b U S i nesses Worldwide Rank Based on Market Position Commodities Paraxylene...... #1 Olefins...... #2 Polyethylene...... #2 Polypropylene...... #5 Specialties Butyl Polymers...... #1 Fluids...... #1 Plasticizers/Oxo...... #1 Synthetics...... #1 Oriented Polypropylene Films...... #1 Adhesive Polymers...... #1 Specialty Elastomers...... #2 Petroleum Additives...... #2 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 35

operating, and investment synergies with existing refining and chemical facilities.

➤ Project engineering and procurement activities continued on the Fujian integrated refining, petrochemical, and fuels marketing joint venture. This is the only fully integrated project in China and would involve construction of an 800 thousand-tons-per-year ethylene steam cracker, polyethylene and polypropylene units, and a 700 thousand- tons-per-year paraxylene unit.

➤ Qatar Petroleum and ExxonMobil Chemical Qatar signed By 2015 we expect Asia will contribute 50 percent of global a Heads of Agreement to progress studies for a world- demand for key commodity petrochemicals. scale petrochemical complex in Ras Laffan Industrial City, Qatar. The proposed complex includes a world-scale The company’s disciplined approach to safety, productivity, 1300 thousand-tons-per-year steam cracker, along with reliability, and quality improvement has continually increased polyethylene and ethylene glycol units. The complex would the contribution of existing assets. Over the last five years, utilize feedstock from gas development projects in Qatar’s improved reliability, elimination of constraints, and technology North Field and supply competitively-advantaged premium advances have added the equivalent capacity of about products to the Middle East, Asia, and Europe. one-and-a-half steam crackers at significantly less than grassroots cost. ➤ Saudi Basic Industries Corporation (SABIC) and affiliates of ExxonMobil Chemical announced a feasibility study The company also benefits from marketing excellence to define a potential project to grow the existing joint initiatives aimed at continuously improving areas such as petrochemical ventures at Yanbu and Al Jubail. The project transactional excellence, optimization of supply chain networks, would target a domestic supply of petrochemical products growth of premium products, working capital management, to serve emerging local and international markets. and continuous enhancement of enabling technology. In addition, we continued to grow our specialty businesses b U i l d p R O p r i et a ry T echno l o g y p os i t i ons and to progress low-cost expansion projects to serve existing Technology is a major source of competitive advantage and developing markets. These investments enable continued and differentiation. Our goal is to provide value to our growth of premium products across our commodity and customers through product innovation and application specialty businesses. support. We also focus significant research toward the development of leading process technology and utilization p R O j ect S t a rt - U p s Capacity (1) of lower cost, advantaged feedstocks. (metric tons Location per year)

S e l ect i ve ly i N V E S T i n A d v a nt a g e d p R O j ects Olefins/Polyolefins The company made significant progress on plans for several 2006 Ethylene (50% interest)...... Al Jubail, Saudi Arabia 30,000 world-scale advantaged projects to supply demand growth 2006 Polypropylene...... Baton Rouge, Louisiana 60,000 in Asia, and in particular China, which alone is expected to 2007 Ethylene...... Singapore 75,000 represent 25 percent of global key commodity demand 2007 Polyethylene...... Antwerp, Belgium 27,000 by 2015. Several of these projects would build on our advantaged geographic footprint of world-scale facilities Specialty Businesses strategically located in the Middle East and Singapore. 2006 Specialty Elastomers...... Pensacola, Florida 1 line (2) 2006 Polyethylene Film...... Nasu, Japan 25,000 ➤ Detailed project definition for a second world-scale steam 2006 Oxo-Alcohols...... Singapore 40,000 cracker complex in Singapore continues. The project 2006 Isopropyl Alcohol...... Baton Rouge, Louisiana 40,000 coordination and services contractor, as well as the 2006 Halobutyl Rubber (50% interest)..... Kashima, Japan 8,500 front-end engineering and design contractors for several 2006 Butyl Elastomers...... Baytown, Texas 1 line derivative units, were selected. In addition to the steam 2007 Compounded Polymers...... Baton Rouge, Louisiana 3 lines cracker, the project scope includes new world-scale 2008 Adhesive Resins...... Notre Dame de Gravenchon, France 18,000 polyethylene, polypropylene, and specialty elastomers 2008 Bromobutyl Rubber...... Baytown, Texas 60% increase plants; an aromatics extraction unit; and an oxo-alcohol expansion. The project would be located at and integrated (1) ExxonMobil equity share of capacity addition. (2) Thousand square meters per year. with the existing Singapore complex, providing feedstock, 36 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT Financial Summary

RE P O R T O F I N D E P EN D E N T R E g i STERE D P U b l i C A CCOUNT I N G F I RM

To The Shareholders Of Exxon Mobil Corporation: We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated financial statements of Exxon Mobil Corporation as of December 31, 2006, and 2005, and for each of the three years in the period ended December 31, 2006, management’s assessment of the effectiveness of the Corporation’s internal control over financial reporting as of December 31, 2006 and the effectiveness of the Corporation’s internal control over financial reporting as of December 31, 2006; and in our report dated February 28, 2007, we expressed unqualified opinions thereon. The consolidated financial statements and management’s assessment of the effectiveness of internal control over financial reporting referred to above (not presented herein) appear in Appendix A to the Proxy Statement for the 2007 annual meeting of shareholders of the Corporation.

In our opinion, the information set forth in the accompanying condensed consolidated financial statements (pages 37-40) is fairly stated, in all material respects, in relation to the consolidated financial statements from which it has been derived.

Dallas, Texas February 28, 2007 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 37

SUMM A R Y O F A CCOUNT I N G P O l i C I E S A N D P R A CT I CES The Corporation’s accounting and financial reporting fairly reflect its straightforward business model involving the extracting, refining, and marketing of hydrocarbons and hydrocarbon-based products. The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (GAAP) requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates.

The summary financial statements include the accounts of those significant subsidiaries owned directly or indirectly with more than 50 percent of the voting rights held by the Corporation, and for which other shareholders do not possess the right to participate in significant management decisions. They also include the Corporation’s share of the undivided interest in certain Upstream assets and liabilities. Amounts representing the Corporation’s percentage interest in the net assets and net income of the less-than-majority-owned companies are included in “Investments and advances” on the Balance Sheet and “Income from equity affiliates” on the Income Statement.

The “functional currency” for translating the accounts of the majority of Downstream and Chemical operations outside the United States is the local currency. The local currency is also used for Upstream operations that are relatively self-contained and integrated within a particular country. The U.S. dollar is used for operations in highly inflationary economies and certain other countries.

Revenues associated with sales of crude oil, natural gas, petroleum and chemical products are recognized when the products are delivered and title passes to the customer.

Inventories of crude oil, products, and merchandise are carried at the lower of current market value or cost (generally determined under the last-in, first-out method – LIFO). Inventories of materials and supplies are valued at cost or less.

The Corporation makes limited use of derivative instruments. When derivatives are used, they are recorded at fair value, and gains and losses arising from changes in their fair value are recognized in income.

The Corporation’s exploration and production activities are accounted for under the “successful efforts” method. Depreciation, depletion, and amortization are primarily determined under either the unit-of-production method or the straight-line method. Unit-of-production rates are based on the amount of proved developed reserves of oil, gas, and other minerals that are estimated to be recoverable from existing facilities. The straight-line method is based on estimated asset service life.

The Corporation incurs retirement obligations for certain assets at the time they are installed. The fair values of these obligations are recorded as liabilities on a discounted basis and are accreted over time for the change in their present value. The costs associated with these liabilities are capitalized as part of the related assets and depreciated. Liabilities for environmental costs are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated.

Effective in 2006, the Corporation recognized the underfunded or overfunded status of defined benefit pension and other postretirement plans as a liability or asset in the balance sheet with the offset in shareholders’ equity, net of deferred taxes.

A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending lawsuits and tax disputes. For further information on litigation and other contingencies, see Note 15 to the Financial Statements in ExxonMobil’s 2007 Proxy Statement.

Share-based compensation is awarded to employees in the form of restricted stock. Compensation expense is measured by the market price of the restricted shares at the date of grant and is recognized over the requisite service period of each award.

Further information on the Corporation’s accounting policies and practices can be found in ExxonMobil’s 2007 Proxy Statement (Critical Accounting Policies and Note 1 to the Financial Statements). 38 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

S umm a ry S tatement of i N C O M E

(millions of dollars) 2006 2005 2004

Revenues and Other Income Sales and other operating revenue (1)(2) 365,467 358,955 291,252 Income from equity affiliates 6,985 7,583 4,961 Other income 5,183 4,142 1,822

Total revenues and other income 377,635 370,680 298,035

Costs and Other Deductions Crude oil and product purchases 182,546 185,219 139,224 Production and manufacturing expenses 29,528 26,819 23,225 Selling, general and administrative expenses 14,273 14,402 13,849 Depreciation and depletion 11,416 10,253 9,767 Exploration expenses, including dry holes 1,181 964 1,098 Interest expense 654 496 638 Sales-based taxes (1) 30,381 30,742 27,263 Other taxes and duties 39,203 41,554 40,954 Income applicable to minority and preferred interests 1,051 799 776

Total costs and other deductions 310,233 311,248 256,794

Income before income taxes 67,402 59,432 41,241 Income taxes 27,902 23,302 15,911

Net Income 39,500 36,130 25,330

Net Income per Common Share (dollars) 6.68 5.76 3.91

Net Income per Common Share – Assuming Dilution (dollars) 6.62 5.71 3.89

(1) Sales and operating revenue includes sales-based taxes of $30,381 million for 2006, $30,742 million for 2005 and $27,263 million for 2004. (2) Sales and other operating revenue includes $30,810 million for 2005 and $25,289 million for 2004, for purchases/sales contracts with the same counterparty. Associated costs were included in Crude oil and product purchases. Effective January 1, 2006, these purchases/sales were recorded on a net basis with no resulting impact on net income. The information in the Summary Statement of Income, the Summary Balance Sheet, and the Summary Statement of Cash Flows, shown on pages 38 through 40, is a replication of the information in the Consolidated Statement of Income, Consolidated Balance Sheet, and the Consolidated Statement of Cashflows in ExxonMobil’s 2007 Proxy Statement. For complete consolidated financial statements, including notes, please refer to Appendix A of ExxonMobil’s 2007 Proxy Statement. See also Management’s Discussion and Analysis of Financial Condition and Results of Operations and other information in Appendix A of the 2007 Proxy Statement. E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 39

S umm a ry B a l a nce S heet at Y e a r E n d

(millions of dollars) 2006 2005

Assets Current assets Cash and cash equivalents 28,244 28,671 Cash and cash equivalents – restricted 4,604 4,604 Notes and accounts receivable, less estimated doubtful amounts 28,942 27,484 Inventories Crude oil, products and merchandise 8,979 7,852 Materials and supplies 1,735 1,469 Prepaid taxes and expenses 3,273 3,262

Total current assets 75,777 73,342

Investments and advances 23,237 20,592 Property, plant and equipment, at cost, less accumulated depreciation and depletion 113,687 107,010 Other assets, including intangibles – net 6,314 7,391

Total assets 219,015 208,335

Liabilities Current liabilities Notes and loans payable 1,702 1,771 Accounts payable and accrued liabilities 39,082 36,120 Income taxes payable 8,033 8,416

Total current liabilities 48,817 46,307

Long-term debt 6,645 6,220 Postretirement benefits reserves 13,931 10,220 Accrued liabilities 7,116 6,434 Deferred income tax liabilities 20,851 20,878 Deferred credits and other long-term obligations 4,007 3,563 Equity of minority and preferred shareholders in affiliated companies 3,804 3,527

Total liabilities 105,171 97,149

Commitments and Contingencies (1)

Shareholders’ Equity Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) 4,786 4,477 Earnings reinvested 195,207 163,335 Accumulated other nonowner changes in equity Cumulative foreign exchange translation adjustment 3,733 979 Postretirement benefits reserves adjustment (6,495) – Minimum pension liability adjustment – (2,258) Common stock held in treasury (2,290 million shares in 2006 and 1,886 million shares in 2005) (83,387) (55,347)

Total shareholders’ equity 113,844 111,186

Total liabilities and shareholders’ equity 219,015 208,335

(1) For more information, please refer to Note 15 of ExxonMobil’s 2007 Proxy Statement. The information in the Summary Statement of Income, the Summary Balance Sheet, and the Summary Statement of Cash Flows, shown on pages 38 through 40, is a replication of the information in the Consolidated Statement of Income, Consolidated Balance Sheet, and the Consolidated Statement of Cash Flows in ExxonMobil’s 2007 Proxy Statement. For complete consolidated financial statements, including notes, please refer to Appendix A of ExxonMobil’s 2007 Proxy Statement. See also Management’s Discussion and Analysis of Financial Condition and Results of Operations and other information in Appendix A of the 2007 Proxy Statement. 40 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

S umm a ry S tatement of C a sh F l o w s

(millions of dollars) 2006 2005 2004

Cash Flows from Operating Activities Net income Accruing to ExxonMobil shareholders 39,500 36,130 25,330 Accruing to minority and preferred interests 1,051 799 776 Adjustments for noncash transactions Depreciation and depletion 11,416 10,253 9,767 Deferred income tax charges/(credits) 1,717 (429) (1,134) Postretirement benefits expense in excess of/(less than) payments (1,787) 254 886 Accrued liability provisions in excess of/(less than) payments (666) 398 806 Dividends received greater than/(less than) equity in current earnings of equity companies (579) (734) (1,643) Changes in operational working capital, excluding cash and debt Reduction/(increase) – Notes and accounts receivable (181) (3,700) (472) – Inventories (1,057) (434) (223) – Prepaid taxes and expenses (385) (7) 11 Increase/(reduction) – Accounts and other payables 1,160 7,806 6,333 Net (gain) on asset sales (1,531) (1,980) (268) All other items – net 628 (218) 382

Net cash provided by operating activities 49,286 48,138 40,551

Cash Flows from Investing Activities Additions to property, plant and equipment (15,462) (13,839) (11,986) Sales of subsidiaries, investments and property, plant and equipment 3,080 6,036 2,754 Increase in restricted cash and cash equivalents – – (4,604) Additional investments and advances (2,604) (2,810) (2,287) Collection of advances 756 343 1,213

Net cash used in investing activities (14,230) (10,270) (14,910)

Cash Flows from Financing Activities Additions to long-term debt 318 195 470 Reductions in long-term debt (33) (81) (562) Additions to short-term debt 334 377 450 Reductions in short-term debt (451) (687) (2,243) Additions/(reductions) in debt with less than 90-day maturity (95) (1,306) (66) Cash dividends to ExxonMobil shareholders (7,628) (7,185) (6,896) Cash dividends to minority interests (239) (293) (215) Changes in minority interests and sales/(purchases) of affiliate stock (493) (681) (215) Tax benefits related to stock-based awards 462 – – Common stock acquired (29,558) (18,221) (9,951) Common stock sold 1,173 941 960

Net cash used in financing activities (36,210) (26,941) (18,268)

Effects of exchange rate changes on cash 727 (787) 532

Increase/(decrease) in cash and cash equivalents (427) 10,140 7,905 Cash and cash equivalents at beginning of year 28,671 18,531 10,626

Cash and cash equivalents at end of year 28,244 28,671 18,531

The information in the Summary Statement of Income, the Summary Balance Sheet, and the Summary Statement of Cash Flows, shown on pages 38 through 40, is a replication of the information in the Consolidated Statement of Income, Consolidated Balance Sheet, and the Consolidated Statement of Cash Flows in ExxonMobil’s 2007 Proxy Statement. For complete consolidated financial statements, including notes, please refer to Appendix A of ExxonMobil’s 2007 Proxy Statement. See also Management’s Discussion and Analysis of Financial Condition and Results of Operations and other information in Appendix A of the 2007 Proxy Statement. E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 41

D i v i d en d a n d S h a reho l d er return i nform at i on

2006 2005 2004 2003 2002

Net income per common share (dollars) 6.68 5.76 3.91 3.24 1.69 Net income per common share – assuming dilution (dollars) 6.62 5.71 3.89 3.23 1.68

Dividends per common share (dollars) First quarter 0.32 0.27 0.25 0.23 0.23 Second quarter 0.32 0.29 0.27 0.25 0.23 Third quarter 0.32 0.29 0.27 0.25 0.23 Fourth quarter 0.32 0.29 0.27 0.25 0.23

Total 1.28 1.14 1.06 0.98 0.92

Dividends per share growth (annual percent) 12.3 7.5 8.2 6.5 1.1

Number of common shares outstanding (millions) Average 5,913 6,266 6,482 6,634 6,753 Average – assuming dilution 5,970 6,322 6,519 6,662 6,803 Year end 5,729 6,133 6,401 6,568 6,700

Cash dividends paid on common stock (millions of dollars) 7,628 7,185 6,896 6,515 6,217 Cash dividends paid to net income (percent) 19 20 27 30 54 Cash dividends paid to cash flow (1) (percent) 15 15 17 23 29

Total return to shareholders (2) (annual percent) 39.2 11.7 27.9 20.5 (8.9)

Market quotations for common stock (dollars) High 79.00 65.96 52.05 41.13 44.58 Low 56.42 49.25 39.91 31.58 29.75 Average daily close 65.35 58.24 45.29 36.14 37.70 Year-end close 76.63 56.17 51.26 41.00 34.94

(1) Net cash provided by operating activities. (2) Total return to shareholders is the appreciation of the stock price over a year plus the value of the dividends, with dividend reinvestment, and excluding trading commissions and taxes. 42 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT

R eserves S umm a ry – Net Proved Developed and Undeveloped Reserves(1)

2006 2005 2004 2003 2002

Liquids, Including Oil Sands and Non-Consolidated Reserves(1) (millions of barrels at year end) Net proved developed and undeveloped reserves United States 2,177 2,424 2,894 3,218 3,352 Canada(1) 1,552 1,701 1,848 1,975 2,085 Europe 750 886 1,029 1,204 1,359 Africa 2,266 2,527 2,654 2,742 2,626 Asia Pacific/Middle East 2,765 1,908 1,688 1,383 1,372 Russia/Caspian 1,766 1,798 1,922 1,822 1,302 Other 433 451 478 512 527 Total worldwide, excluding year-end price/cost effects 11,709 11,695 12,513 12,856 12,623

Year-end price/cost effects (141) (466) (862) – – Total worldwide 11,568 11,229 11,651 12,856 12,623

Natural Gas, Including Non-Consolidated Reserves (billions of cubic feet at year end) Net proved developed and undeveloped reserves United States 10,231 11,362 10,578 11,424 12,239 Canada 1,485 1,735 1,979 2,341 2,882 Europe 18,847 20,575 21,916 23,849 24,336 Africa 986 841 771 583 436 Asia Pacific/Middle East 31,878 26,662 19,938 13,993 13,467 Russia/Caspian 2,103 2,173 1,989 1,934 1,671 Other 467 619 769 645 687 Total worldwide, excluding year-end price/cost effects 65,997 63,967 57,940 54,769 55,718

Year-end price/cost effects 1,563 2,940 2,422 – – Total worldwide 67,560 66,907 60,362 54,769 55,718

Reserves replacement ratio, excluding asset sales(2) (percent) 129 129 125 107 118 Reserves replacement ratio, including asset sales(2) (percent) 122 112 112 105 117 Reserves replacement ratio, including asset sales and year-end price/cost effects (percent) 128 143 83 NA NA

(1) ExxonMobil has significant interest in proven oil-sands reserves in Canada. Please see Frequently Used Terms on pages 44 and 45 for the definition of liquids and natural gas proved reserves. (2) Excluding year-end effects associated with using December 31 prices and costs.

l E a d i n g R eserves B a se ExxonMobil has added over 18 billion oil-equivalent barrels PROVED RESERVES REPLACEMENT ( 1 ) ( 2 ) FOR LAYOUT ALIGNMENT to proved reserves over the last 10 years, more than Liquids Additions Gas Additions Production replacing production. ExxonMobil’s proved reserve base (billions of oil-equivalent barrels) 0.481 of 22.7 billion oil-equivalent barrels equates to a reserve life, at current production rates, of 14.2 years. 2.5

2.0

1.5

1.0

0.5

0 95 96 97 98 99 00 01 02 03 04 05 06

(1) Excludes asset sales and year-end price/cost effects. (2) See Frequently Used Terms on pages 44 and 45.

DATA as of 02/08/2006: DATA as of 02/23/2006: 2.5 Lquidsi Gas Production Production "95" 1018 757 "95" 1.600 2.0 "96" 1495 566 "96" 1.624 "97" 1371 874 "97" 1.631 1.5 "98" 1581 531 "98" 1.599 "99" 1211 494 "99" 1.604 1.0 "00" 1268 543 "00" 1.624 "01" 1068 718 "01" 1.611 0.5 "02" 1226 675 "02" 1.608 "03" 1611 536 "03" 1.587 0.0 "04" 724 1264 "04" 1.591 95 96 97 98 99 00 01 02 03 04 05 “06” "05" 326 1665 "05" 1.539 “06” 1076 978 “06” 1.598

2006 ExxonMobil SAR ! For: Whetstone Design Lab STAND- Eric Whetstone, 214-788-6336 ALONE File name: S42A 06XOMAR-ProvResReplc.eps CHART Placed file(s): (Not in F&O) For page: S42A Last updated: 02/23/2007 Updated by: Carol Zuber-Mallison ZM GRAPHICS • 214-906-4162 • [email protected] (c) 2007, ZM Graphics Usage: Exclusive rights within ExxonMobil

Production notes:

2500 Gas 2000 Liquids

1500

1000

500

0 95 96 97 98 99 00 01 02 03 04 05 “06” E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 43

b U S i ness p R O F i l e (1) Earnings After Capital and Average Capital Return on Average Income Taxes Exploration Expenditures Employed Capital Employed 2006 2005 2004 2006 2005 2004 2006 2005 2004 2006 2005 2004

(millions of dollars, except as noted) (percent) Upstream United States 5,168 6,200 4,948 2,486 2,142 1,922 13,940 13,491 13,355 37.1 46.0 37.0 Non-U.S. 21,062 18,149 11,727 13,745 12,328 9,793 43,931 39,770 37,287 47.9 45.6 31.5 Total 26,230 24,349 16,675 16,231 14,470 11,715 57,871 53,261 50,642 45.3 45.7 32.9 Downstream United States 4,250 3,911 2,186 824 753 775 6,456 6,650 7,632 65.8 58.8 28.6 Non-U.S. 4,204 4,081 3,520 1,905 1,742 1,630 17,172 18,030 19,541 24.5 22.6 18.0 Total 8,454 7,992 5,706 2,729 2,495 2,405 23,628 24,680 27,173 35.8 32.4 21.0 Chemical United States 1,360 1,186 1,020 280 243 262 4,911 5,145 5,246 27.7 23.1 19.4 Non-U.S. 3,022 2,757 2,408 476 411 428 8,272 8,919 9,362 36.5 30.9 25.7 Total 4,382 3,943 3,428 756 654 690 13,183 14,064 14,608 33.2 28.0 23.5

Corporate and financing 434 (154) (479) 139 80 75 27,891 24,956 14,916 – – –

ExxonMobil total 39,500 36,130 25,330 19,855 17,699 14,885 122,573 116,961 107,339 32.2 31.3 23.8 (1) For definitions of selected financial performance measures, see Frequently Used Terms on pages 44 and 45.

V o l umes S umm a ry 2006 2005 2004 2003 2002

Net production of crude oil and natural gas liquids (thousands of barrels daily) United States 414 477 557 610 681 Non-U.S. 2,267 2,046 2,014 1,906 1,815

Total worldwide 2,681 2,523 2,571 2,516 2,496 Net natural gas production available for sale (millions of cubic feet daily) United States 1,625 1,739 1,947 2,246 2,375 Non-U.S. 7,709 7,512 7,917 7,873 8,077

Total worldwide 9,334 9,251 9,864 10,119 10,452 (thousands of oil-equivalent barrels daily) Oil-equivalent production(2) 4,237 4,065 4,215 4,203 4,238

Refinery throughput (thousands of barrels daily) United States 1,760 1,794 1,850 1,806 1,834 Non-U.S. 3,843 3,929 3,863 3,704 3,609

Total worldwide 5,603 5,723 5,713 5,510 5,443 Petroleum product sales(3) United States 2,729 2,822 2,872 2,729 2,731 Non-U.S. 4,518 4,697 5,338 5,228 5,026 Purchases/sales with same counterparty included above – – (699) (687) (682)

Total worldwide 7,247 7,519 7,511 7,270 7,075 Gasoline, naphthas 2,866 2,957 3,301 3,238 3,176 Heating oils, kerosene, diesel 2,191 2,230 2,517 2,432 2,292 Aviation fuels 651 676 698 662 691 Heavy fuels 682 689 659 638 604 Specialty products 857 967 1,035 987 994 Purchases/sales with same counterparty included above – – (699) (687) (682)

Total worldwide 7,247 7,519 7,511 7,270 7,075 Chemical prime product sales (thousands of metric tons) United States 10,703 10,369 11,521 10,740 11,386 Non-U.S. 16,647 16,408 16,267 15,827 15,220

Total worldwide 27,350 26,777 27,788 26,567 26,606 (2) Gas converted to oil-equivalent at 6 million cubic feet = 1 thousand barrels. (3) 2006 and 2005 petroleum product sales data is reported net of purchases/sales with the same counterparty. 44 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT Frequently Used Terms

Listed below are definitions of several of ExxonMobil’s key business and financial performance measures and other terms. These definitions are provided to facilitate understanding of the terms and their calculation.

C a sh F l o w from O p er a t i ons a n d a S S E T S a l es Cash flow from operations and asset sales is the sum of the net cash provided by operating activities and proceeds from sales of subsidiaries, investments, and property, plant, and equipment from the Summary Statement of Cash Flows. This cash flow is the total sources of cash from both operating the Corporation’s assets and from the divesting of assets. The Corporation employs a long-standing and regular disciplined review process to ensure that all assets are contributing to the Corporation’s strategic and financial objectives. Assets are divested when they are no longer meeting these objectives, or are worth considerably more to others. Because of the regular nature of this activity, we believe it is useful for investors to consider sales proceeds together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities, including shareholder distributions.

(millions of dollars) 2006 2005 2004

Net cash provided by operating activities 49,286 48,138 40,551 Sales of subsidiaries, investments and property, plant, and equipment 3,080 6,036 2,754

Cash flow from operations and asset sales 52,366 54,174 43,305

C a p i t a l E m p l oye d Capital employed is a measure of net investment. When viewed from the perspective of how the capital is used by the businesses, it includes ExxonMobil’s net share of property, plant, and equipment and other assets less liabilities, excluding both short-term and long- term debt. When viewed from the perspective of the sources of capital employed in total for the Corporation, it includes ExxonMobil’s share of total debt and shareholders’ equity. Both of these views include ExxonMobil’s share of amounts applicable to equity companies, which the Corporation believes should be included to provide a more comprehensive measure of capital employed.

(millions of dollars) 2006 2005 2004

Business uses: asset and liability perspective Total assets 219,015 208,335 195,256 Less liabilities and minority share of assets and liabilities Total current liabilities excluding notes and loans payable (47,115) (44,536) (39,701) Total long-term liabilities excluding long-term debt and equity of minority and preferred shareholders in affiliated companies (45,905) (41,095) (41,554) Minority share of assets and liabilities (4,948) (4,863) (5,285) Add ExxonMobil share of debt-financed equity-company net assets 2,808 3,450 3,914

Total capital employed 123,855 121,291 112,630

Total corporate sources: debt and equity perspective Notes and loans payable 1,702 1,771 3,280 Long-term debt 6,645 6,220 5,013 Shareholders’ equity 113,844 111,186 101,756 Less minority share of total debt (1,144) (1,336) (1,333) Add ExxonMobil share of equity-company debt 2,808 3,450 3,914

Total capital employed 123,855 121,291 112,630

C a p i T a l A N D E x p l OR A T I O N E x p EN d i T U R E S ( C a p e x ) Capital and exploration expenditures are 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 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.

R eturn on a V E R a g e C a p i t a l E m p l oye d ( R O C E ) Return on average capital employed is a performance measure ratio. From the perspective of the business segments, ROCE is annual business segment earnings divided by average business segment capital employed (average of beginning- and end-of-year amounts). These segment earnings include ExxonMobil’s share of segment earnings of equity companies, consistent with the Corporation’s definition of capital employed and exclude the cost of financing. The Corporation’s total ROCE is net income excluding the after-tax cost of financing, divided by total corporate average capital employed. The Corporation has consistently applied its ROCE definition for many E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 45

years and views it as the best measure of historical capital productivity in our capital-intensive, long-term industry, both to evaluate management’s performance and to demonstrate to shareholders that capital has been used wisely over the long term. Additional measures, which tend to be more cash-flow based, are used to make investment decisions.

(millions of dollars) 2006 2005 2004

Net income 39,500 36,130 25,330 Financing costs (after tax) Third-party debt 44 (1) (137) ExxonMobil share of equity companies (156) (144) (185) All other financing costs – net 191 (295) 54

Total financing costs 79 (440) (268)

Earnings excluding financing costs 39,421 36,570 25,598

Average capital employed 122,573 116,961 107,339 Return on average capital employed – corporate total 32.2% 31.3% 23.8%

L i q u i d s a n d N a tur a l G a s p R O V E d R eserves In this report, we use the term “proved reserves” to mean quantities of oil and gas that ExxonMobil has determined to be reasonably certain of recovery under existing economic and operating conditions on the basis of our long-standing, rigorous management review process. We only book proved reserves when we have made significant funding commitments for the related projects. In this report, we aggregate proved reserves of consolidated and equity companies, excluding royalties and quantities due others, since ExxonMobil does not view these reserves differently from a management perspective. To reflect management’s view of ExxonMobil’s total liquids reserves, proved reserves in this report also include oil-sands reserves from Canadian Syncrude operations, which are reported separately as mining reserves in our Form 10-K and proxy statement. Oil-sands reserves included in this report totaled 718 million barrels in 2006, 738 million barrels at year-end 2005, 757 million barrels at year-end 2004, 781 million barrels at year-end 2003, and 800 million barrels at year-end 2002. For our own management purposes and as discussed in this report, we determine proved reserves based on price and cost assumptions that are consistent with those used to make investment decisions. Therefore, the proved reserves in this report are not directly comparable to the data reported in our Form 10-K and proxy statement. Based on regulatory guidance, ExxonMobil began in 2004 to state our results in the Form 10-K and proxy statement to reflect the impacts on proved reserves of utilizing December 31 liquids and natural gas prices (“year-end price/cost effects”). On this basis, year-end proved reserves, including year-end price/cost effects, totaled 22.8 billion oil-equivalent barrels in 2006, 22.4 billion oil-equivalent barrels in 2005 and 21.7 billion oil-equivalent barrels in 2004. Excluding year-end price/cost effects, 2006 proved reserves totaled 22.7 billion oil-equivalent barrels, 2005 proved reserves totaled 22.4 billion oil-equivalent barrels, while 2004 proved reserves totaled 22.2 billion oil-equivalent barrels.

R esources , R esource B a se , a n d R ecover a b l e R esources Resources, resource base, recoverable oil, recoverable hydrocarbons, recoverable resources, and similar terms used in this report are the total remaining estimated quantities of oil and gas that are expected to be ultimately recoverable. In addition to proved reserves, the resource base includes quantities of oil and gas that are not yet classified as proved reserves, but which ExxonMobil believes will likely be moved into the proved reserves category and produced in the future. p R O V E d R eserves R e p l a cement R a t i o Proved reserves replacement ratio is a performance measure that is calculated using proved oil-equivalent reserves additions divided by oil-equivalent production. Both proved reserves additions and production include amounts applicable to equity companies. The ratio usually reported by ExxonMobil excludes sales and year-end price/cost effects, and includes Canadian oil-sands mining operations in both additions and production volumes. See the definition of “liquids and natural gas proved reserves” above.

F i n d i n g a n d R esource - a C q u i s i t i on C osts Finding and resource-acquisition costs per oil-equivalent barrel is a performance measure that is calculated using the Exploration portion of Upstream capital and exploration expenditures and proved property acquisition costs divided by resource additions (in oil-equivalent barrels). ExxonMobil refers to new discoveries and acquisitions of discovered resources as resource additions. In addition to proved reserves, resource additions include quantities of oil and gas that are not yet classified as proved reserves, but which ExxonMobil believes will likely be moved into the proved reserves category and produced in the future.

2006 2005 2004

Exploration portion of Upstream capital and exploration expenditures (millions of dollars) 2,044 1,693 1,283 Proved property acquisition costs (millions of dollars) 234 174 93 Total exploration and proved property acquisition costs (millions of dollars) 2,278 1,867 1,376 Resource additions (millions of oil-equivalent barrels) 4,270 4,365 2,940 Finding and resource-acquisition costs per oil-equivalent barrel (dollars) 0.53 0.43 0.47 46 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT Directors, Officers, and Affiliated Companies

Clockwise, starting at left: Reatha Clark King, William R. Howell, William W. George, Walter V. Shipley, James R. Houghton, J. Stephen Simon, Henry A. McKinnell, Jr., Samuel J. Palmisano, Philip E. Lippincott, Rex W. Tillerson, Marilyn Carlson Nelson, Michael J. Boskin

b O a r d of D i rectors

Michael J. Boskin. . . . . T .M . Friedman Professor of Economics and Senior Fellow, Hoover Institution, Stanford University

William W. George. . . . . Professor of Management Practice, Harvard Business School . Former Chairman and Chief Executive Officer, Medtronic, Inc . (a medical technology company)

James R. Houghton. . . . Chairman of the Board, Corning Incorporated (communications, advanced materials and display products)

William R. Howell. . . . . Chairman Emeritus, J C. . Penney Company, Inc . (department store and catalog chain)

Reatha Clark King ...... Former Chairman of the Board of Trustees, General Mills Foundation, the philanthropic foundation of General Mills, Inc . (manufacturer and marketer of consumer food products)

Philip E. Lippincott . . . . Retired Chairman and Chief Executive Officer, Scott Paper Company (sanitary paper, printing and publishing papers, and forestry operations); Retired Chairman of the Board, Campbell Soup Company (manufacturer and marketer of branded convenience food products)

Henry A. McKinnell, Jr. . . Retired Chairman of the Board and Chief Executive Officer, Pfizer Inc (pharmaceuticals)

Marilyn Carlson Nelson. . Chairman and Chief Executive Officer, Carlson Companies, Inc . (travel, hotel, restaurant, cruise, and marketing services)

Samuel J. Palmisano . . . . Chairman of the Board, President, and Chief Executive Officer, International Business Machines Corporation (computer hardware, software, business consulting, and information technology services)

Walter V. Shipley...... Retired Chairman of the Board, The Chase Manhattan Corporation and The Chase Manhattan Bank (banking and finance)

J. Stephen Simon. . . . . Senior Vice President

Rex W. Tillerson ...... Chairman and Chief Executive Officer E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT 47

S t a n d i n g C omm i ttees of the b O a r d

Audit Committee Finance Committee J .R . Houghton (Chair), M J. . Boskin, W .R . Howell, R W. . Tillerson (Chair), M J. . Boskin, J .R . Houghton, R C. . King, P .E . Lippincott P .E . Lippincott, M C. . Nelson, S J. . Palmisano

Board Advisory Committee on Contributions Public Issues Committee M C. . Nelson (Chair), W W. . George, W .R . Howell, M J. . Boskin (Chair), J .R . Houghton, R C. . King, H .A . McKinnell, Jr ,. W V. . Shipley H .A . McKinnell, Jr ,. M C. . Nelson

Board Affairs Committee Executive Committee W V. . Shipley (Chair), W W. . George, P .E . Lippincott, R W. . Tillerson (Chair), J .R . Houghton, W .R . Howell, H .A . McKinnell, Jr ,. S J. . Palmisano P .E . Lippincott, M C. . Nelson

Compensation Committee W .R . Howell (Chair), W W. . George, R C. . King, S J. . Palmisano, W V. . Shipley

O ff i cers F unct i on a l a n d S erv i ce O r g a n i z a t i ons

R.W. Tillerson...... Chairman of the Board* Upstream D.D. Humphreys...... Senior Vice President and Treasurer* A.T. Cejka ...... President, ExxonMobil Exploration Company* S.R. McGill ...... Senior Vice President* M.W. Albers ...... President, ExxonMobil Development Company* J.S. Simon...... Senior Vice President* M.E. Foster...... President, ExxonMobil Production Company* L.J. Cavanaugh...... Vice President – Human Resources A.P. Swiger...... President, ExxonMobil Gas & Power A.T. Cejka ...... Vice President* Marketing Company* K.P. Cohen ...... Vice President – Public Affairs S.M. Cassiani. . . . .President, ExxonMobil Upstream H.R. Cramer...... Vice President* Research Company M.J. Dolan...... Vice President* Downstream S.D. Pryor ...... President, ExxonMobil Refining & M.E. Foster...... Vice President* Supply Company* H.H. Hubble ...... Vice President – Investor Relations H.R. Cramer...... President, ExxonMobil and Secretary* Fuels Marketing Company* G.L. Kohlenberger. . . . . Vice President* G.L. Kohlenberger. . .President, ExxonMobil Lubricants & C.W. Matthews ...... Vice President and General Counsel* Petroleum Specialties Company* P.T. Mulva...... Vice President and Controller* R.V. Pisarczyk. . . . .President, ExxonMobil Research and Engineering Company R.D. Nelson...... Vice President – Washington Office Chemical S.D. Pryor ...... Vice President* M.J. Dolan...... President, ExxonMobil Chemical Company* J.M. Spellings ...... General Manager – Corporate Planning Other S.K. Stuewer ...... Vice President – Safety, Health and Environment T.J. Hearn ...... Chairman of the Board, Imperial Oil Limited P.E. Sullivan...... Vice President and General Tax Counsel* T.R. Walters ...... President, ExxonMobil Global Services Company A.P. Swiger...... Vice President*

* Required to file reports under Section 16 of the Securities Exchange Act of 1934. 48 E x x on M o b i l C or p or a t i on ■ 2 0 0 6 S U M M A R Y A NNU a l R E P ORT Investor Information

ExxonMobil offers its shareholders a wide range of services and several ways to access important company information.

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E x x onmo b i l on the i N T E R N E T C or p or a te g O V E R N a nce A quick, easy way to get information about ExxonMobil Our Corporate Governance Guidelines and related materials ExxonMobil publications and important shareholder are available by selecting Investor Information on our Web site information are available on the Internet at exxonmobil.com: at exxonmobil.com. ➤ Shareholder Publications ➤ Stock Prices E x ecut i ve C ert i f i c a t i ons ExxonMobil has included, as Exhibits 31 and 32 to its ➤ Dividend Information 2006 Annual Report on Form 10-K filed with the Securities ➤ Contact Information and Exchange Commission, certificates of the chief executive ➤ Shareholder Issues officer, principal accounting officer, and principal financial officer of the Corporation regarding the quality of the Corporation’s ➤ Press Releases public disclosure. The Corporation has also submitted to the ➤ Management Presentations New York Stock Exchange (NYSE) a certificate of the CEO ➤ Economic and Energy Outlook certifying that he is not aware of any violation by the Corporation of NYSE corporate governance listing standards. ➤ Corporate Governance Guidelines General Information

.A. Corporate Headquarters S

U . Exxon Mobil Corporation N

D I 5959 Las Colinas Boulevard

n t e Irving, TX 75039-2298 PRI Additional copies may be obtained by writing or phoning: Phone: 972-444-1000 Fax: 972-444-1505

Shareholder Relations Exxon Mobil Corporation P.O. Box 140369 Irving, TX 75014-0369

Market Information The New York Stock Exchange is the principal exchange on which Exxon Mobil Corporation common stock (symbol XOM) is traded.

Annual Meeting The 2007 Annual Meeting of Shareholders will be held at 9:00 a.m. Central Time on Wednesday, May 30, 2007, at: ON I T A OR P The Morton H. Meyerson Symphony Center

COR 2301 Flora Street

BIL Dallas, Texas 75201 ON MO x x The meeting will be audiocast live on the Internet. Instructions for listening to this audiocast will be

Included in this Summary Annual Report are financial and operating highlights and summary financial statements. For complete financial statements, including notes, please refer to the Proxy Statement for ExxonMobil’s 2007 Annual Meeting. The Proxy Statement also includes Management’s Discussion and Analysis of Financial Condition and Results of Operations. The Investor Information section of ExxonMobil’s Web site (exxonmobil.com), contains the Proxy Statement and other company publications, including ExxonMobil’s Financial and Operating Review. These publications provide additional detail about the company’s global operations.

Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, and Esso. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Abbreviated references describing global or regional operational organizations, and global or regional business lines are also sometimes used for convenience and simplicity. Similarly, 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, and partner are used to indicate business and other relationships involving common L A B

N activities and interests, and those words may not indicate precise legal relationships. The following are trademarks, service marks, or proprietary process IG

e s names of Exxon Mobil Corporation or one of its affiliates: Esso, Exxon, Mobil, On the Run, Mobil 1, Mobil 1 ESP, and Taking on the World’s Toughest Energy Challenges. The following third party trademarks or service marks, referenced in the text of the report are owned by the entities indicated: NASCAR (National Association for Stock Car Auto Racing, Inc.), American Le Mans (Automobile Club De L’ouest, A.C.O.), Formula 1 (Formula One Licensing B.V.), Tesco (Tesco Stores Limited), Doutor (Kabushiki Kaisha Doutor Coffee, dba Doutor Coffee Co., Ltd.), 7-Eleven (7-Eleven, Inc.), NTUC Fairprice (NTUC Fairprice whetstone D Co-Operative Ltd.), Tim Hortons (The TDL Group Ltd.), Porsche (Dr. Ing. H.c.F. Porsche AG). 5959 Las Colinas Boulevard

Irving, Texas 75039-2298 exxonmobil.com

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Annual Report 002CS-10277