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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): November 1, 2024
 
Exxon Mobil Corporation
(Exact name of registrant as specified in its charter)
 
New Jersey1-225613-5409005
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)

 22777 Springwoods Village Parkway, Spring, Texas 77389-1425
(Address of principal executive offices) (Zip Code)
 
Registrant’s telephone number, including area code: (972) 940-6000
 
 
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
  Name of Each Exchange
Title of Each ClassTrading Symbolon Which Registered
Common Stock, without par valueXOMNew York Stock Exchange
0.524% Notes due 2028XOM28New York Stock Exchange
0.835% Notes due 2032XOM32New York Stock Exchange
1.408% Notes due 2039XOM39ANew York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02Results of Operations and Financial Condition
Item 7.01Regulation FD Disclosure
 The following information is furnished pursuant to both Item 2.02 and Item 7.01.
 
 
The Registrant hereby furnishes the information set forth in its News Release, dated November 1, 2024, announcing third quarter 2024 results, a copy of which is included as Exhibit 99.1, and furnishes the information in the related 3Q24 Investor Relations Data Summary, a copy of which is included as Exhibit 99.2. Material available by hyperlink from the News Release is not deemed to be furnished herewith or included in this filing.




2

INDEX TO EXHIBITS
 
 
 
Exhibit No.Description
  
Exxon Mobil Corporation News Release, dated November 1, 2024, announcing third quarter 2024 results.
  
3Q24 Investor Relations Data Summary.
  
104Cover Page Interactive Data File (formatted as Inline XBRL).
  
3

SIGNATURE
 
 
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 EXXON MOBIL CORPORATION
   
   
Date: November 1, 2024
By:/s/ LEN M. FOX
  Len M. Fox
  Vice President, Controller and Tax
  (Principal Accounting Officer)
4

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EXHIBIT 99.1
3Q 2024 Earnings Release
FOR IMMEDIATE RELEASE
November 1, 2024

ExxonMobil Announces Third-Quarter 2024 Results
•Improved earnings power from enterprise-wide transformation drove industry-leading third-quarter earnings of $8.6 billion1
•Achieved highest liquids production in over 40 years with 3.2 million barrels per day2
•Delivered record high-value product sales volumes in Product Solutions, up 10% over prior year-to-date
•Returned $9.8 billion to shareholders in the quarter and increased fourth-quarter dividend to $0.99 per share
•Leading carbon capture and storage development; new customer agreement increases CO2 offtake under contract to 6.7 million metric tons per year, more committed volume than any other company has announced3

Results Summary
3Q242Q24
Change
vs
2Q24
Dollars in millions (except per share data)
YTD 2024
YTD 2023
Change
vs YTD
 2023
8,610 9,240 -630 Earnings (U.S. GAAP)26,070 28,380 -2,310 
8,610 9,240 -630 Earnings Excluding Identified Items (non-GAAP)26,070 28,609 -2,539 
1.92 2.14 -0.22 
Earnings Per Common Share 4
6.12 6.98 -0.86 
1.92 2.14 -0.22 
Earnings Excl. Identified Items Per Common Share (non-GAAP) 4
6.12 7.04 -0.92 
7,159 7,039 +120 Capital and Exploration Expenditures20,037 18,568 +1,469 
SPRING, Texas – November 1, 2024 – Exxon Mobil Corporation today announced third-quarter 2024 earnings of $8.6 billion, or $1.92 per share assuming dilution. Cash flow from operating activities was $17.6 billion and free cash flow was $11.3 billion. Capital and exploration expenditures were $7.2 billion in the third quarter, bringing year-to-date 2024 expenditures to $20 billion, in line with the company's full-year guidance of $28 billion.

“We delivered one of our strongest third quarters in a decade,” said Darren Woods, chairman and chief executive officer.

“Our industry-leading results1 continue to demonstrate how our enterprise-wide transformation is improving the structural earnings power of the company. In the Upstream, we've doubled the profitability of the barrels we produce on a constant price basis5. In Product Solutions, we've high-graded our refining footprint and increased high-value product sales. And across the entire company, we’ve achieved $11.3 billion of structural cost savings since 2019. Our strategy is delivering leading returns of 20% so far this year for our shareholders, and we are continuing that growth with a 4% increase in our quarterly dividend payment announced today. We’ve now increased our annual dividend for 42 years in a row, a claim that less than 4% of the S&P 500 companies can make. Furthermore, we lead industry in total shareholder returns for the past 3, 5 and 10 years.”







1    Earnings and cash flow for the IOCs are actuals for companies that reported results on or before October 31, 2024, or estimated using Bloomberg consensus as of October 31. IOCs include each of BP, Chevron, Shell and TotalEnergies.
2    Upstream 3Q production compared to historical annual production from 1984 to 2024.
3    Based on contracts to move up to 6.7 MTA CO2 starting in 2025, subject to additional investment by ExxonMobil and receipt of government permitting for carbon capture and storage projects.
4    Assuming dilution.
5    Upstream unit earnings ($/oeb), which doubled since 2019, exclude identified items and are adjusted to 2022 $60/bbl real Brent; Upstream unit earnings exclude Pioneer contributions.

1

Year-to-date Earnings Factor Analysis1
chart-e9160b8c2fd344959cfa.jpg
YE23 to 3Q24 Cash Flow
chart-a7efe77d38fa49f1a01a.jpg
Financial Highlights
•Year-to-date earnings were $26.1 billion versus $28.4 billion in the same period last year. Earnings decreased as industry refining margins and natural gas prices declined from last year's historically high levels, partially offset by favorable timing effects mainly from derivatives mark-to-market impacts. Strong advantaged volume growth from Guyana and Permian assets including Pioneer, and increased high-value product sales more than offset lower base volumes from divestments of non-strategic assets and scheduled maintenance. Structural cost savings partly offset higher expenses from depreciation, scheduled maintenance, development of new businesses and 2025 project start-ups.
•Achieved $11.3 billion of cumulative Structural Cost Savings versus 2019, including an additional $1.6 billion of savings during the year and $0.6 billion during the quarter. The company is on track to deliver cumulative savings totaling $15 billion through the end of 2027 versus 2019.
•Generated strong cash flow from operations of $42.8 billion and free cash flow of $26.4 billion in the first nine months of the year. Industry leading year-to-date shareholder distributions2 of $26.1 billion included $12.3 billion of dividends and $13.8 billion of share repurchases. The company plans to repurchase over $19 billion of shares in 2024. ExxonMobil leads industry with total shareholder return of 20% year-to-date3, and also for the past three, five and ten-year periods.
•The Corporation declared a fourth-quarter dividend of $0.99 per share, an increase of 4%, payable on December 10, 2024, to shareholders of record of Common Stock at the close of business on November 14, 2024. The company has increased its annual dividend for 42 consecutive years, a claim that less than 4% of the S&P 500 companies can make.
•The company's debt-to-capital ratio was 13% and the net-debt-to-capital ratio was 5%4, reflecting year-to-date debt repayment of $4.7 billion and a period-end cash balance of $27.0 billion.

1    The updated earnings factors introduced in the first quarter of 2024 provide additional visibility into drivers of our business results. The company evaluates these factors periodically to determine if any enhancements may provide helpful insights to the market. See page 9 for definitions of these new factors.
2    Leading measures for the IOCs are actuals for companies that reported results on or before October 31, 2024, or estimated using Bloomberg consensus as of October 31. IOCs include each of BP, Chevron, Shell and TotalEnergies.
3    Year-to-date total shareholder return is as of the last business day of the most recent fiscal quarter.
4    Net debt is total debt of $42.6 billion less $26.9 billion of cash and cash equivalents excluding restricted cash. Net-debt to-capital ratio is net debt divided by the sum of net debt and total equity of $276.4 billion.
2

ADVANCING CLIMATE SOLUTIONS
Hydrogen
•ADNOC acquired a 35% equity stake in the company's hydrogen production facility in Baytown, Texas. The proposed project is expected to produce virtually carbon-free hydrogen, with approximately 98% of carbon dioxide (CO2) captured and stored.
•ExxonMobil also signed a Project Framework Agreement with Mitsubishi Corporation for the offtake of low-carbon ammonia and equity participation in the Baytown project. It joined JERA, Japan’s largest power generator, which signed a similar agreement in March.
•Contingent on the U.S. federal government implementing regulations that are consistent with the Inflation Reduction Act's legislative intent, the Baytown facility is expected to be the world’s largest of its kind upon startup, capable of producing up to 1 billion cubic feet of hydrogen per day and more than 1 million tons of low-carbon ammonia per year. A final investment decision is expected in 2025 with anticipated startup in 2029.

Carbon Capture and Storage
•ExxonMobil signed its fifth CCS agreement to transport and store up to 1.2 million metric tons of CO2 per year from the New Generation Gas Gathering (NG3) project being built in Louisiana. NG3 will gather and treat natural gas produced in east Texas and Louisiana for delivery to U.S. Gulf Coast markets, including for LNG export. This is ExxonMobil's first agreement with a natural gas processing customer and brings the total contracted CO2 to store for customers up to 6.7 million metric tons per year. No other company has more announced CO2 offtake under contract than ExxonMobil1.
•The company secured the largest offshore CO2 storage site in the United States through an agreement with the Texas General Land Office. The 271,000-acre site complements the onshore CO2 storage portfolio the company is developing and further solidifies ExxonMobil as the company of choice for carbon capture, transport and storage across the U.S. Gulf Coast. Proceeds from the agreement directly benefit the Texas Permanent School Fund, which enhances education for Texas children.

Products Supporting a Lower-Emissions Future
•ExxonMobil acquired the exclusive overseas licensing rights for Neuvokas Corporation’s proprietary composite rebar manufacturing process. ExxonMobil’s ProxximaTM polyolefin thermoset resin system paired with this patented process delivers a cost-effective, corrosion free, lightweight, and long-lasting rebar as an alternative to steel. This collaboration marks a significant step towards expanding the global market of composite rebar. ProxximaTM resin is made by transforming lower-value gasoline molecules into a high-value, lower-emission product that can be used in high-performance coatings, light-weight construction materials, and advanced composites for cars and trucks – including battery boxes for electric vehicles. The company estimates a total potential addressable market of $30 billion dollars by 2030 for ProxximaTM2.
•As part of its Carbon Materials Venture, ExxonMobil has developed proprietary technology that allows the company to produce feedstock for next-generation graphite at scale for the electric vehicle (EV) battery market. Carbon material products are made by transforming the molecular structure of low-value heavy fuel oil from the company's refining process into high-value products, resulting in a thousands-of-dollars-per-ton uplift. This next-generation graphite potentially provides a 30% improvement in EV battery range as well as faster charges. This market could grow at 25% per year and reach $30 billion dollars by 20303.
1 Based on contracts to move up to 6.7 MTA CO2 starting in 2025, subject to additional investment by ExxonMobil and receipt of government permitting for carbon capture and storage projects.
2 EM estimate calculated based on volumetric displacement of epoxy resin on a cradle-to-gate basis. Source: Comparative Carbon Footprint of Product - ExxonMobil’s Proxima™ Resin System to Alternative Resin Systems, June 2023, prepared by Sphera Solutions, Inc. for ExxonMobil Technology and Engineering Company. The study was confirmed to be conducted according to and in compliance with ISO 14067:2018 by an independent third-party critical review panel. https://www.materia-inc.com/what-do-we-do/our-products/creating-sustainable-solutions/lca-executive-summary. Total addressable market in 2030 based on internal estimates of projected growth rates in target thermoset segments and estimates of further penetration of composite solutions.
3 Total addressable market in 2030 based on internal estimates of demand in existing applications and markets.
3

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.
EARNINGS AND VOLUME SUMMARY BY SEGMENT
Upstream
3Q242Q24Dollars in millions (unless otherwise noted)YTD 2024YTD 2023
Earnings/(Loss) (U.S. GAAP)
1,686 2,430 United States5,170 4,118 
4,472 4,644 Non-U.S.13,722 13,041 
6,158 7,074 Worldwide18,892 17,159 
Earnings/(Loss) Excluding Identified Items (non-GAAP)
1,686 2,430 United States5,170 4,118 
4,472 4,644 Non-U.S.13,722 13,225 
6,158 7,074 Worldwide18,892 17,343 
4,582 4,358 Production (koebd)4,243 3,709 
•Upstream year-to-date earnings were $18.9 billion, $1.7 billion higher than the same period last year. The prior-year period was negatively impacted by tax-related identified items. Excluding identified items, earnings increased $1.5 billion due to advantaged assets volume growth from record Guyana, heritage Permian and Pioneer production, and structural cost savings. These factors were partly offset by higher depreciation expense, and lower base volumes from divestments of non-strategic assets and government-mandated curtailments. Year-to-date net production was 4.2 million oil-equivalent barrels per day, an increase of 14%, or 534,000 oil-equivalent barrels per day.
•Third-quarter earnings were $6.2 billion, a decrease of $916 million from the second quarter driven by lower crude realizations and higher exploration expenses, partly offset by production, which included the highest liquids volumes in 40 years, and structural cost savings. Net production in the third quarter of 4.6 million oil-equivalent barrels per day was up 5%, or 224,000 oil-equivalent barrels per day versus the prior period. A full quarter of Pioneer volumes was partially offset by lower Guyana volumes as Liza phases 1 and 2 were taken offline to complete planned facility tie-ins for the country's gas-to-energy project.







4

Energy Products
3Q242Q24Dollars in millions (unless otherwise noted)YTD 2024YTD 2023
Earnings/(Loss) (U.S. GAAP)
517 450 United States1,803 4,794 
792 496 Non-U.S.1,828 4,141 
1,309 946 Worldwide3,631 8,935 
Earnings/(Loss) Excluding Identified Items (non-GAAP)
517 450 United States1,803 4,794 
792 496 Non-U.S.1,828 4,186 
1,309 946 Worldwide3,631 8,980 
5,580 5,320 Energy Products Sales (kbd)5,378 5,496 
•Energy Products year-to-date earnings were $3.6 billion compared to $8.9 billion in the same period last year due to significantly weaker industry refining margins, which declined from historically high levels as supply from industry capacity additions outpaced record global demand. Earnings improvement from structural cost savings and advantaged projects, including incremental volumes from the Beaumont refinery expansion, partially offset the impacts from higher scheduled maintenance and non-core refinery divestments. Favorable timing effects, mainly from the absence of prior year unfavorable derivatives mark-to-market impacts, provided a partial offset to the earnings decline.
•Third-quarter earnings totaled $1.3 billion, an increase of $0.4 billion from the second quarter. Lower scheduled maintenance and favorable derivatives mark-to-market timing effects more than offset lower industry refining margins and impacts from a tornado-related shutdown at the Joliet refinery in Illinois, which had a safe and rapid restart ahead of expectations.

Chemical Products
3Q242Q24Dollars in millions (unless otherwise noted)YTD 2024YTD 2023
Earnings/(Loss) (U.S. GAAP)
367 526 United States1,397 1,148 
526 253 Non-U.S.1,060 300 
893 779 Worldwide2,457 1,448 
Earnings/(Loss) Excluding Identified Items (non-GAAP)
367 526 United States1,397 1,148 
526 253 Non-U.S.1,060 300 
893 779 Worldwide2,457 1,448 
4,830 4,873 Chemical Products Sales (kt)14,757 14,606 
•Chemical Products year-to-date earnings were $2.5 billion, an increase of $1.0 billion versus the first nine months of 2023. Despite bottom-of-cycle market conditions, overall margins increased from the prior year as a result of the company's advantaged North America footprint, which benefited from lower ethane feed costs, and improved high-value product realizations. Record high-value product sales, which grew 9% year-over-year, and structural cost savings more than offset higher expenses from planned maintenance and strategic growth projects that start up in 2025.
•Third-quarter earnings were $893 million, the highest quarter in over two years, compared to $779 million in the second quarter driven by improved margins from lower North America feed costs and growth in high-value product sales.
5

Specialty Products
3Q242Q24Dollars in millions (unless otherwise noted)YTD 2024YTD 2023
Earnings/(Loss) (U.S. GAAP)
375 447 United States1,226 1,150 
419 304 Non-U.S.1,080 914 
794 751 Worldwide2,306 2,064 
Earnings/(Loss) Excluding Identified Items (non-GAAP)
375 447 United States1,226 1,150 
419 304 Non-U.S.1,080 914 
794 751 Worldwide2,306 2,064 
1,959 1,933 Specialty Products Sales (kt)5,852 5,758 
•Specialty Products delivered consistently strong earnings from its portfolio of high-value products. Year-to-date earnings were a record $2.3 billion1, an increase of $242 million compared with the first nine months of 2023 driven by improved basestock and finished lubes margins, structural cost savings, and higher sales volumes including record Mobil 1TM sales. These factors were partly offset by unfavorable foreign exchange impacts and higher expenses including marketing activities and spending to build ProxximaTM resin and carbon material products – new high-growth, high-margin businesses.
•Third-quarter earnings were $794 million, compared to $751 million in the second quarter. Higher industry basestock margins were partly offset by unfavorable tax and foreign exchange effects.


Corporate and Financing
3Q242Q24Dollars in millions (unless otherwise noted)YTD 2024YTD 2023
(544)(310)Earnings/(Loss) (U.S. GAAP)(1,216)(1,226)
(544)(310)Earnings/(Loss) Excluding Identified Items (non-GAAP)(1,216)(1,226)
•Year-to-date net charges of $1,216 million were comparable to last year.
•Corporate and Financing third-quarter net charges of $544 million increased $234 million versus the second quarter driven by unfavorable foreign exchange impacts and higher financing costs.











1    Highest Specialty Products first-nine-months earnings on record. Records date back to 2017 per recast of Product Solutions five years back from formation in 2022.

6

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.
CASH FLOW FROM OPERATIONS AND ASSET SALES EXCLUDING WORKING CAPITAL

3Q242Q24Dollars in millions (unless otherwise noted)YTD 2024YTD 2023
8,971 9,571 Net income/(loss) including noncontrolling interests27,108 29,342 
6,258 5,787 Depreciation and depletion (includes impairments)16,857 12,901 
2,334 (4,616)Changes in operational working capital, excluding cash and debt(274)(2,064)
6 (182)Other(898)1,508 
17,569 10,560 Cash Flow from Operating Activities (U.S. GAAP)42,793 41,687 
127 926 Proceeds from asset sales and returns of investments1,756 3,058 
17,696 11,486 Cash Flow from Operations and Asset Sales (non-GAAP)44,549 44,745 
(2,334)4,616 Less: Changes in operational working capital, excluding cash and debt274 2,064 
15,362 16,102 Cash Flow from Operations and Asset Sales excluding Working Capital
(non-GAAP)		44,823 46,809 
(127)(926)Less: Proceeds associated with asset sales and returns of investments(1,756)(3,058)
15,235 15,176 Cash Flow from Operations excluding Working Capital (non-GAAP)43,067 43,751 


FREE CASH FLOW1
3Q24
2Q24
Dollars in millions (unless otherwise noted)YTD 2024YTD 2023
17,569 10,560 Cash Flow from Operating Activities (U.S. GAAP)42,793 41,687 
(6,160)(6,235)Additions to property, plant and equipment(17,469)(15,691)
(294)(323)Additional investments and advances(1,038)(1,141)
87 9 Other investing activities including collection of advances311 214 
127 926 Proceeds from asset sales and returns of investments1,756 3,058 
11,329 4,937 Free Cash Flow (non-GAAP)26,353 28,127 
(2,334)4,616 Less: Changes in operational working capital, excluding cash and debt274 2,064 
8,995 9,553 Free Cash Flow excluding Working Capital (non-GAAP)26,627 30,191 
¹ Free Cash Flow definition was updated in the second quarter of 2024 to exclude cash acquired from mergers and acquisitions which is shown as a separate investing line item in the statement of cash flows. See page 10 for definition.

7


CALCULATION OF STRUCTURAL COST SAVINGS
Dollars in billions (unless otherwise noted)
Twelve Months
Ended
December 31,
Nine Months
 Ended
September 30,
2019202320232024
Components of Operating Costs
From ExxonMobil’s Consolidated Statement of Income
(U.S. GAAP)
Production and manufacturing expenses36.8 36.9 27.0 28.8 
Selling, general and administrative expenses11.4 9.9 7.3 7.4 
Depreciation and depletion (includes impairments)19.0 20.6 12.9 16.9 
Exploration expenses, including dry holes1.3 0.8 0.6 0.6 
Non-service pension and postretirement benefit expense1.2 0.7 0.5 0.1 
Subtotal69.7 68.9 48.3 53.7 
ExxonMobil’s share of equity company expenses (non-GAAP)9.1 10.5 7.4 7.1 
Total Adjusted Operating Costs (non-GAAP)78.8 79.4 55.7 60.8 
Total Adjusted Operating Costs (non-GAAP)78.8 79.4 55.7 60.8 
Less:
Depreciation and depletion (includes impairments)19.0 20.6 12.9 16.9 
Non-service pension and postretirement benefit expense1.2 0.7 0.5 0.1 
Other adjustments (includes equity company depreciation
and depletion)		3.6 3.7 2.3 2.5 
Total Cash Operating Expenses (Cash Opex) (non-GAAP)55.0 54.4 40.0 41.3 
Energy and production taxes (non-GAAP)11.0 14.9 11.0 10.3 
Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes (non-GAAP)44.0 39.5 29.0 31.0 
Change
 vs
2019		Change
vs
2023		Estimated Cumulative vs
2019
Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes (non-GAAP)-4.5+2.0
Market+3.6+0.4
Activity/Other+1.6+3.2
Structural Cost Savings-9.7-1.6-11.3

This press release also references Structural Cost Savings, which describes decreases in cash opex excluding energy and production taxes as a result of operational efficiencies, workforce reductions, divestment-related reductions, and other cost-savings measures, that are expected to be sustainable compared to 2019 levels. Relative to 2019, estimated cumulative Structural Cost Savings totaled $11.3 billion, which included an additional $1.6 billion in the first nine months of 2024. The total change between periods in expenses above will reflect both Structural Cost Savings and other changes in spend, including market factors, such as inflation and foreign exchange impacts, as well as changes in activity levels and costs associated with new operations, mergers and acquisitions, new business venture development, and early-stage projects. Estimates of cumulative annual structural savings may be revised depending on whether cost reductions realized in prior periods are determined to be sustainable compared to 2019 levels. Structural Cost Savings are stewarded internally to support management's oversight of spending over time. This measure is useful for investors to understand the Corporation's efforts to optimize spending through disciplined expense management.
8

ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on November 1, 2024. To listen to the event or access an archived replay, please visit www.exxonmobil.com.

Selected Earnings Factor Definitions
Advantaged volume growth. Represents earnings impact from change in volume/mix from advantaged assets, strategic projects, and high-value products. See frequently used terms on page 11 for definitions of advantaged assets, strategic projects, and high-value products.
Base volume. Represents and includes all volume/mix factors not included in Advantaged volume growth factor defined above.

Structural cost savings. Represents after-tax earnings effect of Structural Cost Savings as defined on page 8, including cash operating expenses related to divestments that were previously included in "volume/mix" factor.

Expenses. Represents and includes all expenses otherwise not included in other earnings factors.

Timing effects. Represents timing effects that are primarily related to unsettled derivatives (mark-to-market) and other earnings impacts driven by timing differences between the settlement of derivatives and their offsetting physical commodity realizations (due to LIFO inventory accounting).
Cautionary Statement
Statements related to future events; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions, future earnings power, potential addressable markets, or plans; and other statements of future events or conditions in this release, are forward-looking statements. Similarly, discussion of future carbon capture, transportation and storage, as well as biofuels, hydrogen, ammonia, lithium, direct air capture, and other low carbon business plans to reduce emissions of ExxonMobil, its affiliates, and third parties, are dependent on future market factors, such as continued technological progress, policy support and timely rule-making and permitting, and represent forward-looking statements. Actual future results, including financial and operating performance; potential earnings, cash flow, or rate of return; total capital expenditures and mix, including allocations of capital to low carbon investments; realization and maintenance of structural cost reductions and efficiency gains, including the ability to offset inflationary pressure; plans to reduce future emissions and emissions intensity; ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, to reach Scope 1 and 2 net zero in heritage Upstream Permian Basin unconventional operated assets by 2030 and in Pioneer Permian assets by 2035, to eliminate routine flaring in-line with World Bank Zero Routine Flaring, to reach near-zero methane emissions from its operated assets and other methane initiatives, to meet ExxonMobil’s emission reduction goals and plans, divestment and start-up plans, and associated project plans as well as technology advances, including the timing and outcome of projects to capture and store CO2, produce hydrogen and ammonia, produce biofuels, produce lithium, create new advanced carbon materials, and use plastic waste as feedstock for advanced recycling; cash flow, dividends and shareholder returns, including the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs, capacities and returns; resource recoveries and production rates; and planned Pioneer and Denbury integrated benefits, could differ materially due to a number of factors. These include global or regional changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market factors, economic conditions and seasonal fluctuations that impact prices and differentials for our products; changes in law, taxes, or regulation including environmental and tax regulations, trade sanctions, and timely granting of governmental permits and certifications; the development or changes in government policies supporting lower carbon and new market investment opportunities such as the U.S. Inflation Reduction Act or policies limiting the attractiveness of future investment such as the additional European taxes on the energy sector and unequal support for different methods of emissions reduction; variable impacts of trading activities on our margins and results each quarter; actions of competitors and commercial counterparties; the outcome of commercial negotiations, including final agreed terms and conditions; the ability to access debt markets; the ultimate impacts of public health crises, including the effects of government responses on people and economies; reservoir performance, including variability and timing factors applicable to unconventional resources and the success of new unconventional technologies; the level and outcome of exploration projects and decisions to invest in future reserves; timely completion of development and other construction projects; final management approval of future projects and any changes in the scope, terms, or costs of such projects as approved; government regulation of our growth opportunities; war, civil unrest, attacks against the company or industry and other political or security disturbances; expropriations, seizure, or capacity, insurance or shipping limitations by foreign governments or laws; changes in market strategy by national oil companies; opportunities for potential acquisitions, investments or divestments and satisfaction of applicable conditions to closing, including timely regulatory approvals; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies; unforeseen technical or operating difficulties and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors discussed under Item 1A. Risk Factors of ExxonMobil’s 2023 Form 10-K.
Actions needed to advance ExxonMobil’s 2030 greenhouse gas emission-reductions plans are incorporated into its medium-term business plans, which are updated annually. The reference case for planning beyond 2030 is based on the Company’s
9

Global Outlook research and publication. The Outlook is reflective of the existing global policy environment and an assumption of increasing policy stringency and technology improvement to 2050. Current trends for policy stringency and deployment of lower-emission solutions are not yet on a pathway to achieve net-zero by 2050. As such, the Global Outlook does not project the degree of required future policy and technology advancement and deployment for the world, or ExxonMobil, to meet net zero by 2050. As future policies and technology advancements emerge, they will be incorporated into the Outlook, and the Company’s business plans will be updated accordingly. References to projects or opportunities may not reflect investment decisions made by the corporation or its affiliates. Individual projects or opportunities may advance based on a number of factors, including availability of supportive policy, permitting, technological advancement for cost-effective abatement, insights from the company planning process, and alignment with our partners and other stakeholders. Capital investment guidance in lower-emission investments is based on our corporate plan; however, actual investment levels will be subject to the availability of the opportunity set, public policy support, and focused on returns.
Forward-looking and other statements regarding environmental and other sustainability efforts and aspirations are not an indication that these statements are material to investors or requiring disclosure in our filing with the SEC. In addition, historical, current, and forward-looking environmental and other sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future, including future rule-making. The release is provided under consistent SEC disclosure requirements and should not be misinterpreted as applying to any other disclosure standards.
Frequently Used Terms and Non-GAAP Measures
This press release includes cash flow from operations and asset sales (non-GAAP). Because of the regular nature of our asset management and divestment program, the company believes it is useful for investors to consider proceeds associated with the sales of subsidiaries, property, plant and equipment, and sales and returns of investments together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities. A reconciliation to net cash provided by operating activities for the 2023 and 2024 periods is shown on page 7.
This press release also includes cash flow from operations excluding working capital (non-GAAP), and cash flow from operations and asset sales excluding working capital (non-GAAP). The company believes it is useful for investors to consider these numbers in comparing the underlying performance of the company's business across periods when there are significant period-to-period differences in the amount of changes in working capital. A reconciliation to net cash provided by operating activities for the 2023 and 2024 periods is shown on page 7.
This press release also includes Earnings/(Loss) Excluding Identified Items (non-GAAP), which are earnings/(loss) excluding individually significant non-operational events with, typically, an absolute corporate total earnings impact of at least $250 million in a given quarter. The earnings/(loss) impact of an identified item for an individual segment may be less than $250 million when the item impacts several periods or several segments. Earnings/(loss) excluding Identified Items does include non-operational earnings events or impacts that are generally below the $250 million threshold utilized for identified items. When the effect of these events is significant in aggregate, it is indicated in analysis of period results as part of quarterly earnings press release and teleconference materials. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. The Corporation believes this view provides investors increased transparency into business results and trends and provides investors with a view of the business as seen through the eyes of management. Earnings excluding Identified Items is not meant to be viewed in isolation or as a substitute for net income/(loss) attributable to ExxonMobil as prepared in accordance with U.S. GAAP. A reconciliation to each of corporate earnings and segment earnings are shown for 2024 and 2023 periods in Attachments II-a and II-b. Earnings per share amounts are shown on page 1 and in Attachment II-a, including a reconciliation to earnings/(loss) per common share – assuming dilution (U.S. GAAP).
This press release also includes total taxes including sales-based taxes. This is a broader indicator of the total tax burden on the Corporation’s products and earnings, including certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities (“sales-based taxes”). It combines “Income taxes” and “Total other taxes and duties” with sales-based taxes, which are reported net in the income statement. The company believes it is useful for the Corporation and its investors to understand the total tax burden imposed on the Corporation’s products and earnings. A reconciliation to total taxes is shown in Attachment I-a.
This press release also references free cash flow (non-GAAP) and free cash flow excluding working capital (non-GAAP). Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities excluding cash acquired from mergers and acquisitions. These measures are useful when evaluating cash available for financing activities, including shareholder distributions, after investment in the business. Free cash flow and free cash flow excluding working capital are not meant to be viewed in isolation or as a substitute for net cash provided by operating activities. A reconciliation to net cash provided by operating activities for the 2023 and 2024 periods is shown on page 7.
References to resources or resource base may include 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” or similar terms are not intended to correspond to SEC definitions such as “probable” or “possible” reserves. A reconciliation of production excluding divestments, entitlements, and government mandates to actual production is contained in the Supplement to this release included as Exhibit 99.2 to the Form 8-K filed the same day as this news release.
10

The term “project” as used in this news release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Projects or plans may not reflect investment decisions made by the company. Individual opportunities may advance based on a number of factors, including availability of supportive policy, technology for cost-effective abatement, and alignment with our partners and other stakeholders. The company may refer to these opportunities as projects in external disclosures at various stages throughout their progression.
Advantaged assets (Advantaged growth projects) includes Permian (heritage Permian and Pioneer), Guyana, Brazil and LNG.
Base portfolio (Base) in our Upstream segment, refers to assets (or volumes) other than advantaged assets (or volumes from advantaged assets). In our Energy Products segment, refers to assets (or volumes) other than strategic projects (or volumes from strategic projects). In our Chemical Products and Specialty Products segments refers to volumes other than high-value products volumes.
Debt-to-capital ratio is total debt divided by the sum of total debt and equity. Total debt is the sum of notes and loans payable and long-term debt, as reported in the consolidated balance sheet.
Government mandates (curtailments) are changes to ExxonMobil’s sustainable production levels as a result of production limits or sanctions imposed by governments.
Heritage Permian: Permian basin assets excluding assets acquired as part of the acquisition of Pioneer Natural Resources that closed in May 2024.
High-value products includes performance products and lower-emission fuels.
Lower-emission fuels are fuels with lower life cycle emissions than conventional transportation fuels for gasoline, diesel and jet transport.
Net-debt-to-capital ratio is net debt divided by the sum of net debt and total equity, where net debt is total debt net of cash and cash equivalents, excluding restricted cash. Total debt is the sum of notes and loans payable and long-term debt, as reported in the consolidated balance sheet.
Performance products (performance chemicals, performance lubricants) refers to products that provide differentiated performance for multiple applications through enhanced properties versus commodity alternatives and bring significant additional value to customers and end-users.
Strategic projects includes (i) the following completed projects: Rotterdam Hydrocracker, Corpus Christi Chemical Complex, Baton Rouge Polypropylene, Beaumont Crude Expansion, Baytown Chemical Expansion, Permian Crude Venture, and the 2022 Baytown advanced recycling facility; and (ii) the following projects still to be completed: Fawley Hydrofiner, China Chemical Complex, Singapore Resid Upgrade, Strathcona Renewable Diesel, ProxximaTM Venture, USGC Reconfiguration, additional advanced recycling projects under evaluation worldwide, and additional projects in plan yet to be publicly announced.
Total shareholder return (TSR) measures the change in value of an investment in common stock over a specified period of time, assuming dividend reinvestment. Shareholder return over a particular measurement period is calculated by: dividing (1) the sum of (a) the cumulative value of dividends received during the measurement period, assuming reinvestment, plus (b) the difference between the stock price at the end and at the beginning of the measurement period; by (2) the stock price at the beginning of the measurement period. For this purpose, dividends are assumed to be reinvested in stock at market prices at approximately the same time actual dividends are paid. Unless stated otherwise, total shareholder return is quoted on an annualized basis.
This press release also references Structural Cost Savings, for more details see page 8.
Unless otherwise indicated, year-to-date (“YTD”) means as of the last business day of the most recent fiscal quarter.
Reference to Earnings
References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. Unless otherwise indicated, references to earnings, Upstream, Energy Products, Chemical Products, Specialty Products and Corporate and Financing earnings, and earnings per share are ExxonMobil’s share after excluding amounts attributable to noncontrolling interests.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. 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. 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 activities and interests, and those words may not indicate precise legal relationships. ExxonMobil's ambitions, plans and goals do not guarantee any action or future performance by its affiliates or Exxon Mobil Corporation's responsibility for those affiliates' actions and future performance, each affiliate of which manages its own affairs.
Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up precisely to the totals indicated.
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.
ATTACHMENT I-a
CONDENSED CONSOLIDATED STATEMENT OF INCOME
(Preliminary)
Dollars in millions (unless otherwise noted)
Three Months Ended
 September 30,
Nine Months Ended
September 30,
2024202320242023
Revenues and other income
Sales and other operating revenue87,792 88,570 258,189 253,009 
Income from equity affiliates1,481 1,457 5,067 5,220 
Other income743 733 2,903 2,009 
Total revenues and other income90,016 90,760 266,159 260,238 
Costs and other deductions
Crude oil and product purchases51,261 53,076 153,061 146,677 
Production and manufacturing expenses9,881 8,696 28,776 26,992 
Selling, general and administrative expenses2,296 2,489 7,359 7,328 
Depreciation and depletion (includes impairments)6,258 4,415 16,857 12,901 
Exploration expenses, including dry holes339 338 640 612 
Non-service pension and postretirement benefit expense33 166 90 497 
Interest expense207 169 699 577 
Other taxes and duties6,715 7,712 19,617 22,496 
Total costs and other deductions76,990 77,061 227,099 218,080 
Income/(Loss) before income taxes13,026 13,699 39,060 42,158 
Income tax expense/(benefit)4,055 4,353 11,952 12,816 
Net income/(loss) including noncontrolling interests8,971 9,346 27,108 29,342 
Net income/(loss) attributable to noncontrolling interests361 276 1,038 962 
Net income/(loss) attributable to ExxonMobil8,610 9,070 26,070 28,380 
OTHER FINANCIAL DATA
Dollars in millions (unless otherwise noted)
Three Months Ended September 30,
Nine Months Ended
September 30,
2024202320242023
Earnings per common share (U.S. dollars)
1.92 2.25 6.12 6.98 
Earnings per common share - assuming dilution (U.S. dollars)
1.92 2.25 6.12 6.98 
Dividends on common stock
Total4,240 3,663 12,333 11,102 
Per common share (U.S. dollars)
0.95 0.91 2.85 2.73 
Millions of common shares outstanding
Average - assuming dilution¹
4,462 4,025 4,260 4,064 
Taxes
Income taxes4,055 4,353 11,952 12,816 
Total other taxes and duties7,609 8,460 22,300 24,883 
Total taxes11,664 12,813 34,252 37,699 
Sales-based taxes5,174 6,588 17,062 18,901 
Total taxes including sales-based taxes16,838 19,401 51,314 56,600 
ExxonMobil share of income taxes of equity companies (non-GAAP)682 482 2,587 2,215 
1 Includes restricted shares not vested as well as 545 million shares issued for the Pioneer merger on May 3, 2024.

12

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.ATTACHMENT I-b
CONDENSED CONSOLIDATED BALANCE SHEET
(Preliminary)
Dollars in millions (unless otherwise noted)
September 30,
2024
December 31,
 2023
ASSETS
Current assets
Cash and cash equivalents26,926 31,539 
Cash and cash equivalents – restricted46 29 
Notes and accounts receivable – net41,505 38,015 
Inventories
Crude oil, products and merchandise19,183 20,528 
Materials and supplies4,692 4,592 
Other current assets1,997 1,906 
Total current assets94,349 96,609 
Investments, advances and long-term receivables48,869 47,630 
Property, plant and equipment – net299,543 214,940 
Other assets, including intangibles – net19,155 17,138 
Total Assets461,916 376,317 
LIABILITIES
Current liabilities
Notes and loans payable5,632 4,090 
Accounts payable and accrued liabilities60,518 58,037 
Income taxes payable3,843 3,189 
Total current liabilities69,993 65,316 
Long-term debt36,918 37,483 
Postretirement benefits reserves10,677 10,496 
Deferred income tax liabilities40,281 24,452 
Long-term obligations to equity companies1,637 1,804 
Other long-term obligations26,010 24,228 
Total Liabilities185,516 163,779 
EQUITY
Common stock without par value
(9,000 million shares authorized, 8,019 million shares issued)
46,936 17,781 
Earnings reinvested467,664 453,927 
Accumulated other comprehensive income(11,959)(11,989)
Common stock held in treasury
(3,624 million shares at September 30, 2024, and 4,048 million shares at December 31, 2023)
(234,049)(254,917)
ExxonMobil share of equity268,592 204,802 
Noncontrolling interests7,808 7,736 
Total Equity276,400 212,538 
Total Liabilities and Equity461,916 376,317 
13


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.ATTACHMENT I-c
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Preliminary)
Dollars in millions (unless otherwise noted)
Nine Months Ended
September 30,
20242023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income/(loss) including noncontrolling interests27,108 29,342 
Depreciation and depletion (includes impairments)16,857 12,901 
Changes in operational working capital, excluding cash and debt(274)(2,064)
All other items – net(898)1,508 
Net cash provided by operating activities42,793 41,687 
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment(17,469)(15,691)
Proceeds from asset sales and returns of investments1,756 3,058 
Additional investments and advances(1,038)(1,141)
Other investing activities including collection of advances311 214 
Cash acquired from mergers and acquisitions754 — 
Net cash used in investing activities(15,686)(13,560)
CASH FLOWS FROM FINANCING ACTIVITIES
Additions to long-term debt
426 805 
Reductions in long-term debt(1,142)(11)
Reductions in short-term debt(3,835)(222)
Additions/(Reductions) in debt with three months or less maturity(5)(283)
Contingent consideration payments(27)(68)
Cash dividends to ExxonMobil shareholders(12,333)(11,102)
Cash dividends to noncontrolling interests(580)(511)
Changes in noncontrolling interests(301)(258)
Common stock acquired(13,849)(13,092)
Net cash provided by (used in) financing activities(31,646)(24,742)
Effects of exchange rate changes on cash(57)(77)
Increase/(Decrease) in cash and cash equivalents(4,596)3,308 
Cash and cash equivalents at beginning of period31,568 29,665 
Cash and cash equivalents at end of period26,972 32,973 
Non-Cash Transaction: The Corporation acquired Pioneer Natural Resources in an all-stock transaction on May 3, 2024, having issued 545 million shares of ExxonMobil common stock having a fair value of $63 billion and assumed debt with a fair value of $5 billion.

14

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.ATTACHMENT II-a
KEY FIGURES: IDENTIFIED ITEMS
3Q242Q24Dollars in millions (unless otherwise noted)YTD 2024YTD 2023
8,610 9,240 Earnings/(Loss) (U.S. GAAP)26,070 28,380 
Identified Items
— — Tax-related items— (229)
— — Total Identified Items— (229)
8,610 9,240 Earnings/(Loss) Excluding Identified Items (non-GAAP)26,070 28,609 
3Q242Q24Dollars per common shareYTD 2024YTD 2023
1.92 2.14 Earnings/(Loss) Per Common Share (U.S. GAAP) ¹6.12 6.98 
Identified Items Per Common Share ¹
— — Tax-related items— (0.06)
— — Total Identified Items Per Common Share ¹— (0.06)
1.92 2.14 Earnings/(Loss) Excl. Identified Items Per Common Share (non-GAAP) ¹6.12 7.04 
¹ Assuming dilution.

15


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.ATTACHMENT II-b
KEY FIGURES: IDENTIFIED ITEMS BY SEGMENT
Third Quarter 2024UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing		Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)1,686 4,472 517 792 367 526 375 419 (544)8,610 
Total Identified Items— — — — — — — — — — 
Earnings/(Loss) Excl. Identified Items (non-GAAP)1,686 4,472 517 792 367 526 375 419 (544)8,610 
Second Quarter 2024
UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing		Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)2,430 4,644 450 496 526 253 447 304 (310)9,240 
Total Identified Items— — — — — — — — — — 
Earnings/(Loss) Excl. Identified Items (non-GAAP)2,430 4,644 450 496 526 253 447 304 (310)9,240 
YTD 2024UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing		Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)5,170 13,722 1,803 1,828 1,397 1,060 1,226 1,080 (1,216)26,070 
Total Identified Items— — — — — — — — — — 
Earnings/(Loss) Excl. Identified Items (non-GAAP)5,170 13,722 1,803 1,828 1,397 1,060 1,226 1,080 (1,216)26,070 
YTD 2023UpstreamEnergy ProductsChemical ProductsSpecialty ProductsCorporate
&
Financing		Total
Dollars in millions (unless otherwise noted)U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.U.S.Non-U.S.
Earnings/(Loss) (U.S. GAAP)4,118 13,041 4,794 4,141 1,148 300 1,150 914 (1,226)28,380 
Identified Items
Tax-related items— (184)— (45)— — — — — (229)
Total Identified Items— (184)— (45)— — — — — (229)
Earnings/(Loss) Excl. Identified Items (non-GAAP)4,118 13,225 4,794 4,186 1,148 300 1,150 914 (1,226)28,609 

16

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.ATTACHMENT III
KEY FIGURES: UPSTREAM VOLUMES
3Q242Q24Net production of crude oil, natural gas liquids, bitumen and synthetic oil, thousand barrels per day (kbd)YTD 2024YTD 2023
1,444 1,261 United States1,174 787 
772 760 Canada/Other Americas770 648 
4 4 Europe4 4 
199 215 Africa213 218 
734 714 Asia719 721 
34 30 Australia/Oceania31 37 
3,187 2,984 Worldwide2,911 2,415 
3Q242Q24Net natural gas production available for sale, million cubic feet per day (mcfd)YTD 2024YTD 2023
3,140 2,900 United States2,762 2,328 
103 114 Canada/Other Americas103 96 
350 331 Europe353 429 
140 167 Africa152 116 
3,347 3,486 Asia3,369 3,491 
1,289 1,245 Australia/Oceania1,254 1,303 
8,369 8,243 Worldwide7,993 7,763 
4,582 4,358 
Oil-equivalent production (koebd)¹
4,243 3,709 
1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.

17

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.ATTACHMENT IV
KEY FIGURES: MANUFACTURING THROUGHPUT AND SALES
3Q242Q24Refinery throughput, thousand barrels per day (kbd)
YTD 2024
YTD 2023
1,855 1,746 United States1,834 1,819 
389 387 Canada395 407 
1,135 987 Europe1,026 1,217 
449 446 Asia Pacific432 515 
157 174 Other169 171 
3,985 3,740 Worldwide3,856 4,129 
3Q242Q24Energy Products sales, thousand barrels per day (kbd)
YTD 2024
YTD 2023
2,822 2,639 United States2,680 2,610 
2,758 2,681 Non-U.S.2,699 2,887 
5,580 5,320 Worldwide5,378 5,496 
2,281 2,243 Gasolines, naphthas2,234 2,299 
1,796 1,718 Heating oils, kerosene, diesel1,752 1,815 
366 344 Aviation fuels350 338 
199 181 Heavy fuels198 224 
938 834 Other energy products844 820 
5,580 5,320 Worldwide5,378 5,496 
3Q242Q24Chemical Products sales, thousand metric tons (kt)
YTD 2024
YTD 2023
1,707 1,802 United States5,356 5,036 
3,123 3,071 Non-U.S.9,401 9,570 
4,830 4,873 Worldwide14,757 14,606 
3Q242Q24Specialty Products sales, thousand metric tons (kt)
YTD 2024
YTD 2023
488 506 United States1,489 1,489 
1,471 1,428 Non-U.S.4,363 4,268 
1,959 1,933 Worldwide5,852 5,758 

18

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.ATTACHMENT V
KEY FIGURES: CAPITAL AND EXPLORATION EXPENDITURES
3Q242Q24Dollars in millions (unless otherwise noted)
YTD 2024
YTD 2023
Upstream
3,017 2,773 United States8,059 6,555 
2,731 2,974 Non-U.S.8,018 7,436 
5,748 5,747 Total16,077 13,991 
Energy Products
211 185 United States575 968 
370 367 Non-U.S.1,085 1,095 
581 552 Total1,660 2,063 
Chemical Products
192 157 United States501 540 
333 345 Non-U.S.959 1,321 
525 502 Total1,460 1,861 
Specialty Products
27 21 United States56 41 
66 73 Non-U.S.207 264 
93 94 Total263 305 
Other
212 144 Other577 348 
7,159 7,039 Worldwide20,037 18,568 
CASH CAPITAL EXPENDITURES
3Q242Q24Dollars in millions (unless otherwise noted)
YTD 2024
YTD 2023
6,160 6,235 Additions to property, plant and equipment17,469 15,691 
207 314 Net investments and advances727 927 
6,367 6,549 Total Cash Capital Expenditures18,196 16,618 


19

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.ATTACHMENT VI
KEY FIGURES: EARNINGS/(LOSS)
Results Summary
3Q242Q24
Change
vs
2Q24
Dollars in millions (except per share data)
YTD 2024
YTD 2023
Change
vs YTD
2023
8,610 9,240 -630 Earnings (U.S. GAAP)26,070 28,380 -2,310 
8,610 9,240 -630 Earnings Excluding Identified Items (non-GAAP)26,070 28,609 -2,539 
1.92 2.14 -0.22 
Earnings Per Common Share ¹
6.12 6.98 -0.86 
1.92 2.14 -0.22 
Earnings Excl. Identified Items per Common Share (non-GAAP) ¹
6.12 7.04 -0.92 
7,159 7,039 +120 Capital and Exploration Expenditures20,037 18,568 +1,469 
¹ Assuming dilution.


2Q24 to 3Q24 Earnings Factor Analysis2
chart-04790884a4eb4c9a8aca.jpg
2Q24 to 3Q24 Cash Flow
chart-33850600f8b14d308c6a.jpg






2 The updated earnings factors introduced in the first quarter of 2024 provide additional visibility into drivers of our business results. The company evaluates these factors periodically to determine if any enhancements may provide helpful insights to the market. See page 9 for definitions of these new factors.


20

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.ATTACHMENT VII
KEY FIGURES: EARNINGS/(LOSS) BY QUARTER
Dollars in millions (unless otherwise noted)
2024
2023
2022
2021
2020
First Quarter8,220 11,430 5,480 2,730 (610)
Second Quarter9,240 7,880 17,850 4,690 (1,080)
Third Quarter8,610 9,070 19,660 6,750 (680)
Fourth Quarter— 7,630 12,750 8,870 (20,070)
Full Year— 36,010 55,740 23,040 (22,440)
Dollars per common share¹
2024
2023
2022
2021
2020
First Quarter2.06 2.79 1.28 0.64 (0.14)
Second Quarter2.14 1.94 4.21 1.10 (0.26)
Third Quarter1.92 2.25 4.68 1.57 (0.15)
Fourth Quarter— 1.91 3.09 2.08 (4.70)
Full Year— 8.89 13.26 5.39 (5.25)
1 Computed using the average number of shares outstanding during each period; assuming dilution.
21

f8k991001x0x0.gif
.EXHIBIT 99.2
To assist investors in assessing 3Q24 results, the following disclosures have been made available in this 8-K filing:
–Identified items of $0.00 per share assuming dilution, as noted on page 1 of the news release
–A reconciliation of cash flow from operations and asset sales excluding working capital on page 1 of this exhibit and on page 7 of the news release
3Q24 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 4)
Earnings/(Loss), $M (unless noted)3Q242Q241Q244Q233Q23
UpstreamUnited States1,686 2,430 1,054 84 1,566 
 Non-U.S.4,472 4,644 4,606 4,065 4,559 
 Total6,158 7,074 5,660 4,149 6,125 
Energy ProductsUnited States517 450 836 1,329 1,356 
 Non-U.S.792 496 540 1,878 1,086 
 Total1,309 946 1,376 3,207 2,442 
Chemical ProductsUnited States367 526 504 478 338 
Non-U.S.526 253 281 (289)(89)
Total893 779 785 189 249 
Specialty ProductsUnited States375 447 404 386 326 
 Non-U.S.419 304 357 264 293 
 Total794 751 761 650 619 
Corporate and Financing(544)(310)(362)(565)(365)
Net income attributable to ExxonMobil (U.S. GAAP)8,610 9,240 8,220 7,630 9,070 
Earnings/(Loss) per common share (U.S. GAAP)  1.92 2.14 2.06 1.91 2.25 
Earnings/(Loss) per common share - assuming dilution (U.S. GAAP)1.92 2.14 2.06 1.91 2.25 
Effective Income Tax Rate, %35 %34 %36 %30 %34 %
Capital and Exploration Expenditures, $M3Q242Q241Q244Q233Q23
UpstreamUnited States3,017 2,773 2,269 2,258 2,241 
Non-U.S.2,731 2,974 2,313 3,512 2,560 
Total5,748 5,747 4,582 5,770 4,801 
Energy ProductsUnited States211 185 179 227 261 
Non-U.S.370 367 348 485 386 
Total581 552 527 712 647 
Chemical ProductsUnited States192 157 152 211 103 
Non-U.S.333 345 281 641 268 
Total525 502 433 852 371 
Specialty ProductsUnited States27 21 8 22 16 
Non-U.S.66 73 68 127 95 
Total93 94 76 149 111 
Other212 144 221 274 92 
Total Capital and Exploration Expenditures7,159 7,039 5,839 7,757 6,022 
Exploration expenses, including dry holes339 153 148 139 338 
Cash Capital Expenditures, $M3Q242Q241Q244Q233Q23
Additions to property, plant and equipment6,160 6,235 5,074 6,228 4,920 
Net investments and advances207 314 206 506 276 
Total Cash Capital Expenditures6,367 6,549 5,280 6,734 5,196 
Total Cash and Cash Equivalents, $G27.0 26.5 33.3 31.6 33.0 
Total Debt, $G42.6 43.2 40.4 41.6 41.3 
Cash Flow from Operations and Asset Sales excluding working capital (non-GAAP), $M 3Q242Q241Q244Q233Q23
Net cash provided by operating activities (GAAP)17,569 10,560 14,664 13,682 15,963 
Proceeds associated with asset sales127 926 703 1,020 917 
Cash flow from operations and asset sales (non-GAAP)17,696 11,486 15,367 14,702 16,880 
Changes in operational working capital(2,334)4,616 (2,008)2,191 (1,821)
Cash flow from operations and asset sales
     excluding working capital (non-GAAP)
15,362 16,102 13,359 16,893 15,059 
Common Shares Outstanding, millions3Q242Q241Q244Q233Q23
At quarter end4,395 4,443 3,943 3,971 3,963 
Weighted-average - assuming dilution¹
4,462 4,317 3,998 4,010 4,025 
¹ Includes restricted shares not vested as well as 545 million shares issued for the Pioneer merger on May 3, 2024.


f8k991001x0x0.gif
.
3Q24 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 4)
Upstream Volumes3Q242Q241Q244Q233Q23
Liquids production (kbd) ¹
 United States1,4441,261816851756
 Canada/Other Americas772760772709655
 Europe44434
 Africa199215224231229
 Asia734714711722713
 Australia/Oceania3430303440
Worldwide liquids production3,1872,9842,5572,5502,397
¹ Net production of crude oil, natural gas liquids, bitumen and synthetic oil, kbd.
Natural gas production available for sale (mcfd)     
 United States3,1402,9002,2412,2622,271
 Canada/Other Americas103114949894
 Europe350331377367368
 Africa140167150149129
 Asia3,3473,4863,2743,4863,528
 Australia/Oceania1,2891,2451,2261,2831,358
Worldwide natural gas production available for sale8,3698,2437,3627,6457,748
Oil-equivalent production, koebd ²
4,5824,3583,7843,8243,688
² Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.
Manufacturing Throughput and Sales3Q242Q241Q244Q233Q23
Refinery throughput, kbd     
 United States1,8551,7461,9001,9331,868
 Canada389387407407415
 Europe1,1359879541,0141,251
 Asia Pacific449446402450517
 Other15717418082164
Worldwide refinery throughput3,9853,7403,8433,8864,215
Energy Products sales, kbd     
 United States2,8222,6392,5762,7042,626
 Non-U.S.2,7582,6812,6562,6532,925
Worldwide Energy Products sales5,5805,3205,2325,3575,551
 Gasolines, naphthas2,2812,2432,1782,2552,316
 Heating oils, kerosene, diesel1,7961,7181,7421,7351,834
 Aviation fuels366344339328358
 Heavy fuels199181214185229
 Other energy products938834759854814
Worldwide Energy Products sales5,5805,3205,2325,3575,551
Chemical Products sales, kt
 United States1,7071,8021,8471,7431,750
 Non-U.S.3,1233,0713,2073,0333,358
Worldwide Chemical Products sales4,8304,8735,0544,7765,108
Specialty Products sales, kt
United States488506495473498
Non-U.S.1,4711,4281,4641,3671,414
Worldwide Specialty Products sales1,9591,9331,9591,8391,912








f8k991001x0x0.gif
.
3Q24 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4)
Earnings Factor Analysis, $M
3Q24 vs 2Q24
2024 vs. 2023 (YTD)
Upstream 
Prior Period7,07417,159
Price(660)(10)
Advantaged Volume Growth (Advantaged assets)(90)2,750
Base Volume160(440)
Structural Cost Savings160550
Expenses(320)(1,000)
Identified Items—180
Other(120)(530)
Timing Effects(50)230
Current Period6,15818,892
Energy Products 
Prior Period9468,935
Margin(480)(5,150)
Advantaged Volume Growth (Strategic projects)10140
Base Volume250(990)
Structural Cost Savings20440
Expenses200(630)
Identified Items—50
Other(90)70
Timing Effects450770
Current Period1,3093,631
Chemical Products 
Prior Period7791,448
Margin100930
Advantaged Volume Growth (High-value products)40330
Base Volume(80)(120)
Structural Cost Savings10100
Expenses20(230)
Other20—
Current Period8932,457
Specialty Products
Prior Period7512,064
Margin110350
Advantaged Volume Growth (High-value products)(10)50
Base Volume—40
Structural Cost Savings—80
Expenses20(150)
Other(80)(130)
Current Period7942,306

Upstream Volume Factor Analysis, koebd
3Q24 vs 2Q24
2024 vs. 2023 (YTD)
Prior Period4,3583,709
Entitlements - Price / Spend / Other(28)(20)
Government Mandates—8
Divestments(27)(57)
Growth / Other279603
Current Period4,5824,243


f8k991001x0x0.gif
.
3Q24 INVESTOR RELATIONS DATA SUMMARY (PAGE 4 OF 4)
Average Realization Data3Q242Q241Q244Q233Q23
United States     
ExxonMobil     
Crude ($/b)72.9479.0074.9676.6480.45
Natural Gas ($/kcf)1.161.042.222.552.30
Benchmarks     
WTI ($/b)75.1980.7377.0678.3782.50
ANS-WC ($/b)78.8686.3181.3784.0287.90
Henry Hub ($/mbtu)2.151.892.252.882.54
Non-U.S.     
ExxonMobil     
Crude ($/b)73.0777.6072.0074.2377.48
Natural Gas ($/kcf)10.139.7311.3712.5810.50
European NG ($/kcf)12.7611.3014.0417.3413.71
Benchmarks     
Brent ($/b)80.1884.9483.2484.0586.76
The above numbers reflect ExxonMobil’s current estimate of volumes and realizations given data available as of the end of the third quarter of 2024. Volumes and realizations may be adjusted when full statements on joint venture operations are received from outside operators. ExxonMobil management assumes no duty to update these estimates.

Sources and Uses of Funds, $M3Q24YTD 2024   
Beginning Cash26,488 31,568    
Earnings8,610 26,070    
Depreciation6,258 16,857    
Working Capital / Other2,701 (134)   
Proceeds Associated with Asset Sales127 1,756    
Cash Capital Expenditures ¹(6,367)(18,196)   
Shareholder Distributions(9,752)(26,100)   
Debt / Other Financing(1,093)(5,603)   
Cash acquired from mergers and acquisitions— 754 
Ending Cash26,972 26,972    
¹ 3Q24 Cash Capital Expenditures includes PP&E adds of $(6.2)B and net investments and advances of $(0.2)B.
 YTD 2024 Cash Capital Expenditures includes PP&E adds of $(17.5)B and net investments and advances of $(0.7)B.


Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up precisely to the totals indicated.


v3.24.3
Document and Entity Information Document
Nov. 01, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Nov. 01, 2024
Entity Registrant Name Exxon Mobil Corporation
Entity Incorporation, State or Country Code NJ
Entity File Number 1-2256
Entity Tax Identification Number 13-5409005
Entity Address, Address Line One 22777 Springwoods Village Parkway
Entity Address, City or Town Spring
Entity Address, State or Province TX
Entity Address, Postal Zip Code 77389-1425
City Area Code 972
Local Phone Number 940-6000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000034088
Amendment Flag false
Common Stock, without par value  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, without par value
Trading Symbol XOM
Security Exchange Name NYSE
0.524% Notes due 2028  
Entity Information [Line Items]  
Title of 12(b) Security 0.524% Notes due 2028
Trading Symbol XOM28
Security Exchange Name NYSE
0.835% Notes due 2032  
Entity Information [Line Items]  
Title of 12(b) Security 0.835% Notes due 2032
Trading Symbol XOM32
Security Exchange Name NYSE
1.408% Notes due 2039  
Entity Information [Line Items]  
Title of 12(b) Security 1.408% Notes due 2039
Trading Symbol XOM39A
Security Exchange Name NYSE
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