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Energy & Carbon Summary 2021 Energy & Carbon Summary PLEASE SEE OPTIONS FOR COVER PHOTO PHOTO FOR POSITION ONLY Text and Page #s need to be 2 | 2021 Energy & Carbon Summary updated P&GA Table of Contents 5 11 33 39 3 EXECUTIVE SUMMARY 11 STRATEGY 33 METRICS & TARGETS 39 RISK MANAGEMENT 12 Energy supply and demand trends 22 Developing and deploying scalable 34 Progressing further greenhouse 40 ExxonMobil's approach to 22 Developing and deploying technology solutions gas reductions; meeting 2020 goals risk management scalable technology solutions 5 GOVERNANCE 14 Considering 2oC scenarios 30 Proactively engaging on 38 Greenhouse gas emissions 30 Proactively engaging on 6 Climate change risk 16 Signposts for the evolving climate-related policy performance data climate-related policy oversight energy landscape 31 Providing products to help ADDITIONAL INFORMATION 7 Coordination and support of 17 Potential impact on proved Providing products to help customers reduce their emissions 43 Scope 3 emissions 31 customers reduce their board committees reserves and resources emissions 32 Mitigating emissions in Company 44 Frequently asked questions 9 Board composition and 20 Positioning for a lower-carbon operations 32 Mitigating emissions in evaluation energy future 49 TCFD mapping Company operations 50 Disclosures 51 Footnotes Statements of future events or conditions in this report, including projections, plans to reduce emissions and emissions intensity, sensitivity analyses, expectations, estimates, the development of future technologies, and business plans, are forward- looking statements. Actual future results or conditions, including: demand growth and relative energy mix across sources, economic sections and geographic regions; the impacts of waves of COVID-19; the impact of new technologies; production rates and reserve or resource changes; efficiency gains and cost savings; emission or emission intensity reductions; reductions in flaring; and the results of investments, could differ materially due to, for example, changes in the supply and demand for crude oil, natural gas, and petroleum and petrochemical products and resulting price impacts; the outcome of exploration and development projects; the outcome of research projects and the ability to scale new technologies on a cost-effective basis; changes in law or government policy, including drilling regulations, greenhouse gas regulations, carbon taxes or regulations, and international treaties; the actions of competitors and customers; changes in the rates of population growth, economic development, and migration patterns; trade patterns and the development and enforcement of global, regional and national mandates; military build-ups or conflicts; unexpected technological developments; general economic conditions, including the occurrence and duration of economic recessions; unforeseen technical or operational difficulties; the pace of regional or global recovery from the COVID-19 pandemic and actions taken by governments or consumers resulting from the pandemic; and other factors discussed in this report and in Item 1A of ExxonMobil’s most recent Form 10-K and subsequent Form 10-Qs. This document is a shareholder requested publication and is purposefully focused on unknown future events. The statements and analysis in this document represent a good faith effort by the Company to address this request despite significant unknown variables as well as incomplete and, at times, inconsistent market and government policy signals. Energy demand modeling aims to replicate system dynamics of the global energy system, requiring simplifications to limit a great deal of complexity. In addition, energy demand scenarios require assumptions on a variety of parameters. As such, the outcome of any given scenario using an energy demand model comes with a high degree of uncertainty. Third-party scenarios discussed in this report reflect the modeling assumptions and outputs of their respective authors, not ExxonMobil, and their use or inclusion herein is not an endorsement by ExxonMobil of their underlying assumptions, likelihood or probability. Any reference to ExxonMobil’s support of a third-party organization within this document does not constitute or imply an endorsement by ExxonMobil of any or all of the positions or activities of such organization. References to “resources,” “resource base,” “recoverable resources” and similar terms refer to the total remaining estimated quantities of oil and natural gas that are expected to be ultimately recoverable. ExxonMobil refers to new discoveries and acquisitions of discovered resources as “resource additions.” The resource base includes quantities of oil and natural gas classified as proved reserves, as well as quantities that are not yet classified as proved reserves, but that are expected to be ultimately recoverable. The term "resource base" is not intended to correspond to SEC definitions such as “probable“ or “possible” reserves. For additional information, see the “Frequently Used Terms” on the Investors page of the COVER PHOTO: Company's website at exxonmobil.com. ExxonMobil is committed to producing References to “oil” and “gas” include crude, natural gas liquids, bitumen, synthetic oil, and natural gas. the energy that is essential to modern life The term “project” as used in this publication can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. while minimizing environmental impacts. 2021 Energy & Carbon Summary 3 | 2021 Energy & Carbon Summary Society expects more than just superior financial and business As part of this effort, we plan to reduce the intensity of our Executive summary results from companies like ExxonMobil. How we create value for operated upstream greenhouse gas emissions by 15 to 20 society at large and our shareholders depends on both the type percent by 2025, compared to 2016 levels. This will be and quality of the products we supply as well as the safe and supported by a 40 to 50 percent decrease in methane intensity, responsible operation of our facilities around the world. and a 35 to 45 percent decrease in flaring intensity across our global operations. ExxonMobil has a long history of responsibly meeting EXXONMOBIL'S CLIMATE STRATEGY We all want more people to access the health care, transportation and education that contribute to quality-of-life We are also aligning with the World Bank’s initiative to society‘s evolving need for energy in a reliable and and improved living standards. The stable and affordable energy eliminate routine flaring by 2030 - a continuation of the strict that ExxonMobil and our industry produce each day make that flaring protocols we adopted in 2019 - and have proposed a sustainable manner. With a longstanding commitment to Mitigating emissions in Company operations possible. model regulatory framework for our industry to mitigate methane emissions from new and existing oil and gas investments in technology and the ingenuity of its people, ▪ ExxonMobil’s greenhouse gas emissions have declined approximately Providing those products responsibly while minimizing operations in the United States. environmental impacts and reducing greenhouse gas emissions is the Company is well positioned to continue to provide the 5 percent from 2010 to 2019 due to energy efficiency improvements, and the essence of sustainability. The steps we are taking reflect ExxonMobil’s commitment to reductions in flaring, venting and fugitive emissions. addressing the risks of climate change by reducing our own energy that is essential to improving lives around the Each year, we provide detailed metrics about our environmental, greenhouse gas emissions, while also developing technologies ▪ social, and governance performance, including our approach to to help others reduce their emissions. world, while managing the risks of climate change. At year-end 2020, the Company expected to achieve the emission reduction how we mitigate climate change risks. goals outlined in 2018. These included: Reflecting on 2020, we saw the arrival of a global pandemic Among the highlights from our latest reporting: that has caused unprecedented economic disruption and social – 15 percent reduction in methane emissions versus 2016 levels, and turmoil. As a leading manufacturer with global operations, • Successfully meeting the pledge we set in 2018 to ExxonMobil delivered assistance to governments and health About the Energy & Carbon Summary – 25 percent reduction in flaring versus 2016 levels. decrease methane emissions by 15 percent and flaring care personnel around the world while ensuring the by 25 percent, compared to 2016 levels. uninterrupted supply of vital energy products. The Energy & Carbon Summary outlines ExxonMobil’s approach to managing climate ▪ The Company aims for industry-leading greenhouse gas performance across risks, including Board of Directors oversight, technology investments and actions to • Providing Scope 3 emissions on an annual basis. As part of our efforts, we maximized production of both its businesses by 2030, and recently announced new emission reduction plans isopropyl alcohol that is extensively used in hand-sanitizers and reduce greenhouse gas emissions. It highlights the Company’s commitment to for 2025, which are projected to be consistent with the goals of the Paris polypropyleneand SR that is used in medical masks and surgical Developing and deploying Engaging on Promoting • Driving our Permian Basin flaring to less than 1 percent
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