Regulation FD Presentation, Business/Financial Results (Form 8-K)

4Q 2025 Earnings Release

FOR IMMEDIATE RELEASE

January 30, 2026

ExxonMobil Announces 2025 Results

•Generated industry-leading earnings of $28.8 billion and cash flow from operations of $52.0 billion1

•Delivered EPS2 of $6.70, or $6.99 excluding identified items reflecting industry-leading CAGR of 21% since 20191

•Highest annual Upstream production in more than 40 years and record refinery throughput3 supported industry-leading annual shareholder distributions of $37.2 billion1

•Delivered 10 of 10 key projects4; adding $3 billion of earnings on a constant price and margin basis5

•Generated $15.1 billion in cumulative Structural Cost Savings since 2019, more than all other IOCs combined1

•Achieved 2030 plans for Corporate greenhouse gas emissions and flaring intensity reductions6

Results Summary
4Q25			3Q25			Change vs 3Q25			Dollars in millions (except per share data)			2025			2024			Change vs 2024
6,501			7,548			-1,047			Earnings (U.S. GAAP)			28,844			33,680			-4,836
7,256			8,058			-802			Earnings Excluding Identified Items (non-GAAP)			30,109			33,464			-3,355
1.53			1.76			-0.23			Earnings Per Common Share ²			6.70			7.84			-1.14
1.71			1.88			-0.17			Earnings Excluding Identified Items Per Common Share (non-GAAP) ²			6.99			7.79			-0.80

SPRING, Texas - January 30, 2026 - Exxon Mobil Corporation today announced fourth-quarter 2025 earnings of $6.5 billion, or $1.53 per share. Earnings excluding identified items were $7.3 billion, or $1.71 per share. Cash flow from operating activities was $12.7 billion and free cash flow was $5.6 billion. Shareholder distributions totaled $9.5 billion, including $4.4 billion of dividends and $5.1 billion of share repurchases. For the full-year 2025, the company reported earnings of $28.8 billion and distributed $37.2 billion to shareholders, including $17.2 billion of dividends and $20.0 billion of share repurchases, consistent with previously announced plans.

"ExxonMobil is a fundamentally stronger company than it was just a few years ago, and our 2025 results demonstrate that," said Darren Woods, ExxonMobil chairman and chief executive officer. "Our transformation is delivering a more resilient, lower-cost, technology-led business with structurally stronger earnings power, grounded in advantaged assets, disciplined capital allocation, and execution excellence."

"We're capturing more value from every barrel and molecule we produce and building growth platforms at scale - creating a long runway of profitable growth through 2030 and beyond."

"That growth is underpinned by disciplined capital allocation and an industry-leading balance sheet that gives us unmatched flexibility to invest through the cycle and consistently deliver industry-leading returns."

1 Earnings, earnings per share, earnings excluding identified items per share, earnings per share excluding identified items CAGR, and cash flow from operations compare IOCs' reported results or FactSet consensus as of January 28, 2026. Shareholder distributions compare IOCs' reported results or Bloomberg consensus as of January 28, 2026. IOCs' structural cost savings reflect reported cost savings from public filings.

2 Earnings per share (EPS) figures assume dilution.

3 Highest full-year global refining throughput, on a same-site basis, since the merger of Exxon and Mobil.

4 All key projects have successfully commenced start-up, including mechanical completion.

5 Earnings refers to full-year 2026 and are adjusted to 2024 $65/bbl real Brent (assumes annual inflation of 2.5%) and 10-year average Energy, Chemical, and Specialty Product margins, which refer to the average of annual margins from 2010-2019.

6 Based on 4Q 2025 preliminary data. ExxonMobil's plans regarding GHG emissions reductions by 2030 can be found in our 2025 Advancing Climate Solutions report. Methane intensity reductions plans are expected to be achieved by the end of 2026.

1

Full-year Earnings Driver Analysis

YE24 Cash (U.S. GAAP) to YE25 Cash Flow

Financial Highlights

•Full-year earnings totaled $28.8 billion compared to $33.7 billion in 2024. Earnings excluding identified items from impairments, restructuring charges, asset sales, and tax-related items were $30.1 billion versus $33.5 billion in 2024. Weaker crude prices and chemical margins, higher depreciation, growth-related costs, and lower interest income decreased earnings. These impacts were partially offset by advantaged volume growth, structural cost savings, higher industry refining margins, and favorable timing effects.

•Since 2019, the company has achieved $15.1 billion in cumulative Structural Cost Savings, exceeding all other IOCs combined, including $3.0 billion in 2025. Structural Cost Savings are expected to reach $20 billion by 2030.

•Return on capital employed was 9.3% for the year and has averaged ~11% since 2019, leading the IOCs.1

•The company generated strong full-year cash flow from operations of $52.0 billion, with a ~10% CAGR since 2019 - both leading IOCs, and free cash flow of $26.1 billion. The company also delivered industry-leading total annualized shareholder returns of ~29% over the past five years.1

•Shareholder distributions of $37.2 billion included $17.2 billion of dividends, the second highest among S&P 500 companies2, and $20.0 billion of share repurchases. ExxonMobil plans to repurchase $20 billion of shares through 2026, assuming reasonable market conditions.

•The Corporation declared a first-quarter dividend of $1.03 per share, payable on March 10, 2026, to shareholders of record of Common Stock at the close of business on February 12, 2026. The company increased its fourth-quarter dividend by 4% and has grown its annual dividend-per-share for 43 consecutive years.

•The company's industry-leading debt-to-capital and net-debt-to-capital ratio were 14.0% and 11.0%, respectively, with a period-end cash balance of $10.7 billion.3

•Cash capital expenditures totaled $29.0 billion, including $2.6 billion of acquisitions; $28.4 billion was for additions to property, plant, and equipment. The company expects cash capital expenditures of $27-$29 billion in 2026.4

1 ROCE for ExxonMobil is 2025 full-year. ROCE for IOCs' reported results and estimated using available year-to-date third-quarter annualized figures. Cash flow from operations compare IOCs' reported results or estimated using FactSet consensus as of January 28, 2026. Total shareholder return compares to each IOC as of December 31, 2025.

2 Dividend payments based on publicly available filings.

3 Net debt is total debt of $43.5 billion less $10.7 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 $266.6 billion. Period-end cash balance includes cash and cash equivalents including restricted cash. Net debt-to-capital and debt-to-capital are estimated using Bloomberg consensus as of January 28, 2026.

4 The investment range for 2026 excludes advances and collections not related to capital expenditures or equity investments, for example, supply and marketing related advances and associated collections.

2

EARNINGS AND VOLUME SUMMARY BY SEGMENT

Upstream
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
						Earnings/(Loss) (U.S. GAAP)
753			1,228			United States			5,063			6,426
2,764			4,451			Non-U.S.			16,291			18,964
3,517			5,679			Worldwide			21,354			25,390
						Earnings/(Loss) Excluding Identified Items (non-GAAP)
1,224			1,228			United States			5,534			6,786
3,186			4,451			Non-U.S.			16,713			18,389
4,410			5,679			Worldwide			22,247			25,175
4,988			4,769			Production (koebd)			4,736			4,333

•Upstream full-year earnings were $21.4 billion versus $25.4 billion in 2024. Identified items in 2025, primarily impairments, decreased earnings by $1.1 billion versus 2024. Excluding identified items, earnings decreased $2.9 billion from weaker crude realizations, lower base volumes from divestments, and higher depreciation, partially offset by advantaged volume growth in the Permian and Guyana, structural cost savings, and derivative mark-to-market timing effects.

•Fourth-quarter earnings were $3.5 billion, a decrease of $2.2 billion from the third quarter. Weaker crude realizations, identified items mainly from impairments, and seasonally higher expenses were partially offset by advantaged volumes growth in Guyana and the Permian, and structural cost savings.

•Full-year net production reached its highest level in more than 40 years at 4.7 million oil-equivalent barrels per day. Production from the Permian, at 1.6 million oil-equivalent barrels per day, and Guyana, which exceeded 700,000 gross barrels per day, achieved annual records. Advantaged assets in the Permian, Guyana, and LNG represented 59% of production in 2025, an increase of approximately 7 percentage points from 2024.

•Net production in the fourth quarter reached 5.0 million oil-equivalent barrels per day, with advantaged assets setting new quarterly production records, including 1.8 million oil-equivalent barrels per day in the Permian and Guyana approaching 875,000 gross barrels per day.

•The company advanced three major developments this year: Yellowtail, the fourth and largest Guyana development, started up four months ahead of schedule in the third quarter and under budget; Bacalhau, the company's first offshore Brazil development, started up in the fourth quarter; and Golden Pass LNG, where Train 1 achieved mechanical completion late in the year, with first cargoes expected in the first quarter.

3

Energy Products
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
						Earnings/(Loss) (U.S. GAAP)
1,012			858			United States			2,992			2,099
2,378			982			Non-U.S.			4,431			1,934
3,390			1,840			Worldwide			7,423			4,033
						Earnings/(Loss) Excluding Identified Items (non-GAAP)
1,130			858			United States			3,110			2,133
1,777			982			Non-U.S.			3,830			1,821
2,907			1,840			Worldwide			6,940			3,954
5,804			5,692			Energy Products Sales (kbd)			5,593			5,418

•Energy Products full-year 2025 earnings were $7.4 billion, an increase of $3.4 billion compared to last year. Higher earnings were driven by stronger industry refining margins, structural cost savings, net favorable identified items mainly from asset sales, and record refinery throughput.1 The record throughput was supported by lower scheduled maintenance and growth from advantaged projects. Higher expenses related to growth projects partially offset the increase in earnings.

•Fourth-quarter earnings totaled $3.4 billion, an increase of more than 80%, or $1.6 billion, compared with the third quarter. The earnings improvement was driven by higher industry refining margins from stronger diesel and gasoline crack spreads, identified items mainly from asset sales, favorable year-end inventory effects, record North America refinery throughput1 and volume growth from advantaged projects, and favorable timing effects. Improvements to earnings were partially offset by higher seasonal expenses, identified items related to impairments, and growth-related project costs.

•Advantaged projects progressed during the year, delivering volume and mix uplift, including the start-up of the Strathcona renewable diesel facility, Singapore Resid Upgrade, which converts lower-value fuel oil to higher-value distillates, and Fawley Hydrofiner, which converts lower-value distillates to higher-value diesel for the UK market.

Chemical Products
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
						Earnings/(Loss) (U.S. GAAP)
64			329			United States			903			1,627
(345)			186			Non-U.S.			(103)			950
(281)			515			Worldwide			800			2,577
						Earnings/(Loss) Excluding Identified Items (non-GAAP)
144			329			United States			983			1,670
(155)			186			Non-U.S.			87			1,002
(11)			515			Worldwide			1,070			2,672
5,743			5,520			Chemical Products Sales (kt)			21,303			19,392

•Chemical Products full-year earnings were $800 million, a decrease of $1.8 billion versus 2024. Results reflected weaker industry margins, impairment-related identified items, and higher spend, including the China Chemical Complex ramp-up, partially offset by additional structural cost savings, and record high-value product sales.2

•Fourth-quarter earnings decreased $796 million versus the third quarter to a loss of $281 million or $11 million excluding identified items. Lower margins, impairment-related identified items, and higher seasonal spend were partially offset by net favorable tax impacts.

•The company expanded higher-value capacity throughout the year, bringing online additional performance chemicals at the wholly-owned, world-scale China Chemical Complex, and starting up two advanced recycling facilities, increasing plastic waste processing capacity to more than 250 million pounds per year.

1 Highest annual global refining throughput on a same-site basis and highest quarterly North America throughput since the merger of Exxon and Mobil.

2 Based on comparing year-to-date and quarterly high-value product sales since 2019.

4

Specialty Products
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
						Earnings/(Loss) (U.S. GAAP)
233			354			United States			1,200			1,576
449			386			Non-U.S.			1,657			1,476
682			740			Worldwide			2,857			3,052
						Earnings/(Loss) Excluding Identified Items (non-GAAP)
221			354			United States			1,188			1,580
461			386			Non-U.S.			1,669			1,485
682			740			Worldwide			2,857			3,065
1,919			1,932			Specialty Products Sales (kt)			7,791			7,666

•Specialty Products delivered strong earnings from its portfolio of high-value products. Full-year earnings were $2.9 billion, a decrease of $195 million compared to last year. Higher expenses, including spending to develop markets for carbon materials and ProxximaTM resins, and unfavorable foreign exchange were partially offset by record high-value product sales volumes1 and structural cost savings.

•Fourth-quarter earnings of $682 million were down $58 million from the prior quarter. Higher seasonal expenses were partially offset by higher margins from lower feed costs.

•The company expanded advantaged capacity in 2025, highlighted by start-up of the Singapore Resid Upgrade which employs new-to-the-world technology to convert low-value molecules into high-value lubricant products. The company also more than tripled production capacity of its ProxximaTM resins, with applications expanding across rebar, coatings, automotive, and oil and gas.

Corporate and Financing
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
(807)			(1,226)			Earnings/(Loss) (U.S. GAAP)			(3,590)			(1,372)
(732)			(716)			Earnings/(Loss) Excluding Identified Items (non-GAAP)			(3,005)			(1,402)

•Corporate and Financing full-year net charges were $3.6 billion compared to $1.4 billion in the prior year. Excluding identified items related to restructuring charges, year-to-date net charges of $3.0 billion increased $1.6 billion compared to last year due to lower interest income, unfavorable foreign exchange, and increased pension-related expenses.

•Fourth-quarter net charges of $807 million decreased $419 million versus the third quarter. Excluding identified items related to restructuring charges, net charges were $732 million, which were comparable to the third quarter.

1 Based on comparing year-to-date and quarterly high-value product sales since 2019.

5

CASH FLOW FROM OPERATIONS AND ASSET SALES EXCLUDING WORKING CAPITAL
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
6,609			7,768			Net income/(loss) including noncontrolling interests			29,764			35,063
7,715			6,475			Depreciation and depletion (includes impairments)			25,993			23,442
(2,728)			(152)			Changes in operational working capital, excluding cash and debt			(7,728)			(1,826)
1,083			697			Other			3,941			(1,657)
12,679			14,788			Cash Flow from Operating Activities (U.S. GAAP)			51,970			55,022
1,020			139			Proceeds from asset sales and returns of investments			3,158			4,987
13,699			14,927			Cash Flow from Operations and Asset Sales (non-GAAP)			55,128			60,009
2,728			152			Less: Changes in operational working capital, excluding cash and debt			7,728			1,826
16,427			15,079			Cash Flow from Operations and Asset Sales excluding Working Capital (non-GAAP)			62,856			61,835
(1,020)			(139)			Less: Proceeds from asset sales and returns of investments			(3,158)			(4,987)
15,407			14,940			Cash Flow from Operations excluding Working Capital (non-GAAP)			59,698			56,848

FREE CASH FLOW
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
12,679			14,788			Cash Flow from Operating Activities (U.S. GAAP)			51,970			55,022
(7,450)			(8,727)			Additions to property, plant, and equipment			(28,358)			(24,306)
(3,160)			(501)			Additional investments and advances			(4,133)			(3,299)
2,457			610			Other investing activities including collection of advances			3,406			1,926
1,020			139			Proceeds from asset sales and returns of investments			3,158			4,987
20			23			Inflows from noncontrolling interest for major projects			88			32
5,566			6,332			Free Cash Flow (non-GAAP)			26,131			34,362

6

RETURN ON AVERAGE CAPITAL EMPLOYED
Dollars in millions (unless otherwise noted)			2025			2024			2023			2022			2021			2020
Net income/(loss) attributable to ExxonMobil (U.S. GAAP)			28,844			33,680			36,010			55,740			23,040			(22,440)
Financing costs (after-tax)
Gross third-party debt			(1,360)			(1,106)			(1,175)			(1,213)			(1,196)			(1,272)
ExxonMobil share of equity companies			(165)			(196)			(307)			(198)			(170)			(182)
All other financing costs - net			2,072			(252)			931			276			11			666
Total financing costs			547			(1,554)			(551)			(1,135)			(1,355)			(788)
Earnings/(loss) excluding financing costs (non-GAAP)			28,297			35,234			36,561			56,875			24,395			(21,652)
Total assets (U.S. GAAP)			448,980			453,475			376,317			369,067			338,923			332,750
Less liabilities and noncontrolling interests share of assets and liabilities
Total current liabilities excluding notes and loans payable			(63,034)			(65,352)			(61,226)			(68,411)			(52,367)			(35,905)
Total long-term liabilities excluding long-term debt			(75,783)			(75,807)			(60,980)			(56,990)			(63,169)			(65,075)
Noncontrolling interests share of assets and liabilities			(8,895)			(8,069)			(8,878)			(9,205)			(8,746)			(8,773)
Add ExxonMobil share of debt-financed equity company net assets			2,793			3,242			3,481			3,705			4,001			4,140
Total capital employed (non-GAAP)			304,061			307,489			248,714			238,166			218,642			227,137
Average capital employed (non-GAAP)			305,775			278,102			243,440			228,404			222,890			234,031
Return on average capital employed - corporate total (non-GAAP)			9.3%			12.7%			15.0%			24.9%			10.9%			(9.3)%
Average since 2019: Return on average capital employed (non-GAAP)			10.6%

7

CASH CAPITAL EXPENDITURES
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
7,450			8,727			Additions to property, plant, and equipment			28,358			24,306
3,160			501			Additional investments and advances			4,133			3,299
(2,457)			(610)			Other investing activities including collection of advances			(3,406)			(1,926)
(20)			(23)			Inflows from noncontrolling interests for major projects			(88)			(32)
8,133			8,595			Total Cash Capital Expenditures (non-GAAP)			28,997			25,647
4Q25			3Q25			Dollars in millions (unless otherwise noted)			2025			2024
						Upstream
3,674			5,843			United States			15,907			11,276
2,709			1,771			Non-U.S.			8,752			8,985
6,383			7,614			Total			24,659			20,261
						Energy Products
289			182			United States			752			705
436			260			Non-U.S.			955			1,513
725			442			Total			1,707			2,218
						Chemical Products
338			180			United States			843			671
212			95			Non-U.S.			552			1,212
550			275			Total			1,395			1,883
						Specialty Products
221			65			United States			381			145
86			44			Non-U.S.			242			263
307			109			Total			623			408
						Other
168			155			Other			613			877
8,133			8,595			Worldwide			28,997			25,647

8

CALCULATION OF STRUCTURAL COST SAVINGS
Dollars in billions (unless otherwise noted)			2019												2025
Components of Operating Costs
From ExxonMobil's Consolidated Statement of Income (U.S. GAAP)
Production and manufacturing expenses			36.8												42.4
Selling, general and administrative expenses			11.4												11.1
Depreciation and depletion (includes impairments)			19.0												26.0
Exploration expenses, including dry holes			1.3												1.0
Non-service pension and postretirement benefit expense			1.2												0.4
Subtotal			69.7												81.0
ExxonMobil's share of equity company expenses (non-GAAP)			9.1												10.6
Total Adjusted Operating Costs (non-GAAP)			78.8												91.6
Total Adjusted Operating Costs (non-GAAP)			78.8												91.6
Less:
Depreciation and depletion (includes impairments)			19.0												26.0
Non-service pension and postretirement benefit expense			1.2												0.4
Other adjustments (includes equity company depreciation and depletion)			3.6												6.2
Total Cash Operating Expenses (Cash Opex) (non-GAAP)			55.0												59.0
Energy and production taxes (non-GAAP)			11.0												14.9
						Market			Activity/ Other			Structural Cost Savings
Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes (non-GAAP)			44.0			+4.9			+10.3			-15.1			44.1