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1、2022Annual ReportSee Cautionary Statement on Page 139 for important information regarding forward-looking statements and terms used in this report.About the cover:Our work to meet societys needs is enabled by sites such as our Baytown,Texas,operations,among the worldslargest integrated and most tech

2、nologically advanced refining and petrochemical complexes.Financial and operating performance significantly led peers1Continuing to be an industry leader in safety5E X X O N M O B I L C O R P O R A T I O N|2 0 2 2 A N N U A L R E P O R TEarnings$56BCash flow from operations$77Bshareholder distributi

3、ons$30BROCE with$23B in capex325%Structural cost savings2$7Btotal shareholder return487%production growth in thePermian Basin and Guyana30%elimination of routine flaring in Permian operated assets7100%reduction in corporate-widegreenhouse gas intensity versus 201610%metric-tons-per-year unit started

4、up at Baton Rouge,doubling theplants polypropylene capacity450Kpounds of plastic advanced recycling capacity started up in Baytown,Texas80Mreduction in methane intensity from all operated assets since 201650%Working to solve the“and”equation:delivering the energy and products society needs and reduc

5、ing our own and others greenhouse gas emissions.2022:A year in reviewIncreased supply of reliable energy and essential productsAccelerated lower-emission opportunities6&Letter to shareholdersBy evolving our operating model and consolidating intothree core businesses Upstream,Product Solutions,and Lo

6、w Carbon Solutions we leveraged our advantagesof technology,scale,integration,and world-classemployees to improve effectiveness,efficiency,and earnings resiliency.The positive impact of these changesis clearly seen in our results:Our North America refineriescollectively delivered their best-ever ann

7、ual throughput;8we achieved record production in our Permian operations;and we significantly increased volumes in Guyana to helpease substantial shortages.In addition,we increased earnings to$56 billion,well ahead of our peers.1We also increased planned investments in lower-emissioninitiatives to ap

8、proximately$17 billion from 2022 through 2027 and made great strides to lower the emissions intensity of our operated assets.Low Carbon Solutionssigned a first-of-its-kind agreement to capture,transport,and permanently store up to 2 million metric tons of third-party CO2 per year in Louisiana beginn

9、ing in 2025.This would be the equivalent of replacing approximately 700,000 gasoline-powered cars with electric vehicles.9This landmark event signaled to other potential customersthat we are ready and uniquely able to help them meettheir emission-reduction goals.In addition,in Baytown,Texas,we start

10、ed up one of North Americas largest advanced recycling facilities,capable of processing morethan 80 million pounds of plastic waste per year.Our ability to significantly improve our cost structure and profitably grow our businesses helped improve earnings resiliency and fortify our balance sheet whi

11、le increasing flexibility to navigate future down cycles.And through itall,we shared our success with shareholders,reclaiming The world needs reliable and affordable energy,as recent events have once again confirmed.Recognizing the vital role we play in this led us in the face of deep economic uncer

12、tainty in 2020 and 2021 to lean in when many retreated.We made the investments necessary to help meet the growth in global demand we knew would follow the COVID-related slowdown.As a result,we were positioned for success across all of our businesses in 2022.At the same time,we continued to focus on

13、ways to meaningfully reduce our own and others greenhouse gas emissions.our position as the industry leader in total shareholder returns,4 increasing the annual dividend for the 40thconsecutive year,and returning approximately$30 billion to shareholders,equally balanced between dividends and share r

14、epurchases.The strength of our businessand financial position have enabled up to$35 billion of cumulative share repurchases over the next two years.While our full-year 2022 results clearly benefited from abuoyant market,our strategy to invest counter-cyclically,combined with the hard work and commit

15、ment of our people,drove financial performance well above that of our competitors.We can help meet the worlds growing need for stablesupplies of energy and essential products while also reducing our own and others emissions in support of a lower-emission future.For us,this is not an“either/or”propos

16、ition.Rather,its an“and”equation.We can increase supply and reduce greenhouse gas emissions strengthening energy security and advancing a thoughtfulenergy transition.Thank you for investing in ExxonMobil and for your ongoing support.Darren W.WoodsChairman and CEOIBy significantly increasing volumes

17、in Guyana,we helped provide affordable and reliable energy at a time when the world faced substantial shortages.(Photo)Liza Unity floating production,storage,and offloading vessel,Guyana.I IE X X O N M O B I L C O R P O R A T I O N|2 0 2 2 A N N U A L R E P O R TOur Upstream business works each day

18、to provide reliable and affordable energy solutions.We continuously innovate and invest,using industry-leading technology and processes to safely increase oil and natural gas production to meet the needs of a growing and changing global population.In 2022,we continued to strengthen and actively mana

19、ge our industry-leading portfolio of strategic projects while producing 3.7 million oil-equivalent barrels per day.In the Permian Basin,we maximized the value of our large acreage position through technology and the scaleof our integrated operations,increasing production by nearly 90,000 oil-equival

20、ent barrelsper day year-over-year while making progress on reducing greenhouse gas emissions at ouroperated facilities.Additionally,we started productionfrom our second major deepwaterdevelopment in Guyana and increased total gross production to more than 360,000 barrels per day in the fourth quarte

21、r.We also expanded future development opportunities,adding 10 newdiscoveries in the Stabroek block.Our partners and communities in Guyana share in the benefits,as the nations GDP has more than tripled since our first discovery in 2015,and our industry now employs more than 4,000Guyanese with more th

22、an 1,000 local vendors supporting our activities.Last year,we reached an agreement to supply the country with natural gas to enable cleaner power generationand reduced electricity costs.At the same time,our investments in the community,throughthe ExxonMobil Foundation and direct engagement,are impro

23、ving womens economicdevelopment and enhancing science,technology,engineering,and mathematics(STEM)education opportunities,among many other activities.We are an industry leader in liquefied natural gas(LNG),a key component to reducinggreenhouse gas emissions in the global energy mix.We participated i

24、n the production of 81 million metric tons per year of LNG accounting for one-fifth of global demand.The Coral South Floating LNG development offshore Mozambique began production in October,contributing additional supply of cleaner-burning,reliable,and transportable LNG at a time when it was greatly

25、 needed in European and other international markets.Upstreamproduction growth in Permian and Guyana versus 202130%While achieving record production in 2022,we made progress toward our 2030 Scope 1 and 2 net-zero goal for our Permian Basin unconventional operated assets.During the year,we eliminated

26、routine flaring7 and continued work to electrify operations with lower-emission power generated from wind,solar,and natural gas.I I Imetric tons per year of LNG production,accounting for one-fifth of global demand81MMeeting societys needs and reducing emissions.By combining our Chemical and Downstre

27、am businesses to form ExxonMobil Product Solutions,we established the worlds largest integrated chemical,fuels,and lubricants company.Joining these organizations aligned our product portfolios under one management team with one set of prioritized objectives and a single face to customers.Product Sol

28、utions supplies high-value products needed by modern society at industry-leading scale.From the lubricants used in wind turbines to the plastics used in electric vehicles,electronic devices,food preservation,and medical supplies,our products enhance quality of life and play a central role in the ene

29、rgy transition.Our advanced product solutions enable more durable and lighter products that use less material,save energy,reduce cost and waste,and have lower life-cycle greenhouse gas emissions compared to alternatives as a group.10As demand for transportation fuelsreturned in 2022,we were ready to

30、increase supply,with our globalrefinery throughput reaching its highest annual level since 2012.11 We completed the Beaumontrefinery expansion,growing our crude capacity by an additional 250,000 barrels per day in 2023.We also moved closer to meeting our goal of supplying 200,000 barrels per day of

31、lower-emission biofuels by 2030,as the 20,000-barrel-per-day Strathcona renewable diesel project reached final investment decision in January 2023.To meet growing demand for high-value performance chemicals,we started up a world-scale,state-of-the-art chemical plant in Corpus Christi,Texas,to produc

32、e materials used in packaging,agricultural film,construction materials,clothing,and automotive coolants.Wealso doubled our polypropylene capacity in Baton Rouge,Louisiana.Throughout the year,we remained focused on operational excellence to grow safely and reliably.Advancing plastics circularityWe in

33、creased plastics production capacity by nearly 10%to meet growing global needs andsupport lower-emission products,while helping address the issue of plastic waste by starting up one of the largest advanced recycling facilities in North America.12Advanced recycling solutions break down hard-to-recycl

34、e plastics and transform them intoraw materials for new products needed for everyday life.Plastics are too valuable and too versatile to waste,which is why we are working with industry,governments,communities,and consumers to complement traditional mechanical recycling with chemical processes that b

35、reak down plastic waste to the molecular level.This enables us to produce certified-circularpolymers13 with quality and performance properties that are identical to polymers made fromvirgin raw materials.We are uniquely positioned with our scale,integration,and technology to expand advanced recyclin

36、g capacity to help broaden the range of plastics that society recycles.Our additionalcapacity will provide the capability to recycle more than 80 million pounds of plastic waste peryear.We expect to grow that to 1 billion pounds of global annual advanced recycling capacity by year-end 2026.Product S

37、olutionsI Vincrease in global refinery throughput versus 2021114.5%E X X O N M O B I L C O R P O R A T I O N|2 0 2 2 A N N U A L R E P O R TImproving quality of life and profitably growing.pounds of annual advanced recycling capacity by year-end 20261BOur majority-owned affiliate Imperial Oil Ltd.wi

38、ll invest about$560 million to move forward with construction of the largest renewable diesel facility in Canada.This project at the Strathcona refinery,which is expected to produce 20,000 barrels of renewable diesel per day using low-carbon hydrogen produced with carbon capture and storage technolo

39、gy,reached final investment decision in January 2023.With our ExxtendTM technology for advanced recycling,we processed more than 10 million pounds of plastic waste at our pilot operations in Baytown,Texas,in 2022 that is the equivalent to preventing more than 850 million plastic bags from reaching l

40、andfills.14(Photo)Polypropylene production.VV IE X X O N M O B I L C O R P O R A T I O N|2 0 2 2 A N N U A L R E P O R TImpermeable cap rock layers thousands of feet below ground permanently seal millions of metric tons of CO2 safely underground with limited disruption to the local landscape.Its one

41、 example of how Low Carbon Solutions is working on significant emission reductions from hard-to-decarbonize sectors.MarshlandUnderground CO2 storage reservoirIndustrial sources of CO2Impermeable cap rock seals CO2 undergroundCarbon capture and storage solutions on Pecan Island(Photo)Survey work has

42、begun on Pecan Island,Louisiana,for a carbon capture and storage project as part of our landmark agreement with CF Industries.We are further supporting the region with a$500,000 contribution to Ducks Unlimited to restore 900 acres of marsh damaged by Hurricane Rita in 2005.2022 was a milestone year

43、for Low Carbon Solutions,which supports reducing greenhouse gas emissions from our operations and provides products and solutions to help lower our customers emissions.We do this through a focus on carbon capture and storage,hydrogen,and lower-emission fuels.These three technologies fit well with ou

44、r proven experience and differentiated competitive advantages.They are also critical to reducing emissions in the highest-emitting and hardest-to-decarbonize sectors:manufacturing,power generation,and commercial transportation.Ourstrategy gives us the flexibility to pace investments over time,effect

45、ively allocating resourcesas markets and policies evolve.With clear and consistent government policy and technology advancements,we can continue to grow our pipeline of lower-emission opportunities,generate accretive returns,and progress our plans to lead in the energy transition.Scaling up solution

46、sCarbon capture and storage is recognizedby the International Energy Agency as anessential technology to help reduce global emissions.In 2022,we took a major step forward by entering into the largest-of-its-kind commercial agreement with CF Industries,which will helpthe state of Louisiana achieve it

47、s goal of net-zero emissions by 2050.The 2 million metric tons of CO2 emissions expected to be captured annually by this project are equivalent to replacing approximately 700,000 gasoline-powered cars with electric vehicles.9Hydrogen is a zero-carbon energy carrier that can serve as an affordable an

48、d reliable sourceof energy for heavy-duty trucking and in the steel,refining,and chemical sectors.Hydrogen created from natural gas and coupled with carbon capture and storage is likely to play an important role in the lower-emission energy system of the future.Our project in Baytown,Texas,is expect

49、ed to produce 1 billion cubic feet of low-carbon hydrogen per day makingit the largest low-carbon hydrogen project in the world at planned start up in 2027 to 2028.More than 98%of the associated CO2 produced by the facility,or around 7 million metric tonsper year,is expected to be captured and perma

50、nently stored.The projects carbon capture and storage network will be made available to third-party CO2 emitters.It represents our initial contribution to the Houston Hub,a broad,cross-industry effort,which has an initial goal to capture and store about 50 million metric tons of CO2 per year by 2030

51、.15Low Carbon SolutionsV I I7Mmetric tons CO?per year of storage expected at our new low-carbon hydrogen facility in BaytownAlready a world leader in carbon capture and storage,we took another major step forward with our first,and largest-of-its-kind,commercial agreement with CF Industries.This proj

52、ect is expected to capture,transport,and store up to 2 million metric tons of CO2 emissions annually.It also sends an important message that we are ready to provide critical and scalable solutions to reduce the CO2 emissions of other large industrial customers around the world.Industry emission sour

53、ces16 Safe and secure storageCF IndustriesExxonMobil Pecan Island areaEnLink Pipeline*LO U I S I A N A*for illustrative purposesSupporting net zero and delivering solutions.Our unique competitive advantages have been built over decades,bringing our shareholders exceptional results through the right

54、strategic priorities and extraordinary execution by our employees around the world.Our five-yearplan is expected to drive leading business outcomes and is a continuation of the path that delivered industry-leading performance in 2022.Corporate plan through 2027V I I IE X X O N M O B I L C O R P O R

55、A T I O N|2 0 2 2 A N N U A L R E P O R TOur winning propositionUpstreamLow Carbon SolutionsProduct Solutions500K40-50%oil-equivalent barrels of expected growth by 2027 versus 2023reduction in Upstreamgreenhouse gas intensityby 2030182X1Bvolume of high-value productswith differentiated performanceby

56、 2027 versus 2019pounds per year of advanced recycling capacity expected by 202610%1Boverall return on the portfolioof investments from cubic feet of low-carbon hydrogenper day expected from our facility in Baytown,Texasearnings and cash flow growth potential by 2027 versus 2019172Xreduct

57、ion in corporate-wide greenhouse gas intensity by 20301820-30%$20-25BUp to$35Bannual capital investments 20232027cumulative share repurchase program for 202320242022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASIDNGTON,D.C.20549 E)fonMobil FORMlO-K lil ANNUAL REPORT PURSUANT TO SECTION 13 OR

58、15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31,2022 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OFTHE SECURITIES EXCHANGE ACT OF 1934 New Jersey(State or other jurisdiction of incorporation or organization)Title of Each Class Common Stock,without par value

59、0.142%Notes due 2024 0.524%Notes due 2028 0.835%Notes due 2032 1.408%Notes due 2039 For the transition period from _ to _ _ Commission File Number 1-2256 Exxon Mobil Corporation(Exact name of registrant as specified in its charter)5959 Las Colinas Boulevard,Irving,Texas 75039-2298(Address of princip

60、al executive offices)(Zip Code)(972)940-6000(Registrants telephone number,including area code)Securities registered pursuant to Section 12(b)of the Act:Trading Symbol XOM XOM24B XOM28 XOM32 XOM39A 13-5409005(I.R.S.Employer Identification Number)Name of Each Exchange on Which Registered New York Stoc

61、k Exchange New York Stock Exchange New York Stock Exchange New York Stock Exchange New York Stock Exchange Indicate by check mark if the registrant is a well-known seasoned issuer,as defined in Rule 405 of the Securities Act.Yes Iii NoIndicate by check mark if the registrant is not required to file

62、reports pursuant to Section 13 or Section 15(d)of the Act.Yes No Iii Indicate by check mark whether the registrant(1)has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months(or for such shorter period that the registrant w

63、as required to file such reports),and(2)has been subject to such filing requirements for the past 90 days.Yes Iii NoIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T(232.40

64、5 of this chapter)during the preceding 12 months(or for such shorter period that the registrant was required to submit and post such files).Yes Iii NoIndicate by check mark whether the registrant is a large accelerated filer,an accelerated filer,a non-accelerated filer,a smaller reporting company,or

65、 an emerging growth company.See the definitions of large accelerated filer,accelerated filer,smaller reporting company,and emerging growth company in Rule 12b-2 of the Exchange Act.Large accelerated filer Non-accelerated filer Iii Accelerated filer Smaller reporting company Emerging growth company I

66、f 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.Indicate by check mark whether the registrant has fil

67、ed a report on and attestation to its managements assessment of the effectiveness of its internal control over financial reporting under Section 404(b)of the Sarbanes-Oxley Act(15 U.S.C.7262(b)by the registered public accounting firm that prepared or issued its audit report.Iii Indicate by check mar

68、k whether the registrant is a shell company(as defined by Rule 12b-2 of the Act).Yes No Iii The aggregate market value of the voting stock held by non-affiliates of the registrant on June 30,2022,the last business day of the registrants most recently completed second fiscal quarter,based on the clos

69、ing price on that date of$85.64 on the New York Stock Exchange composite tape,was in excess of$356 billion.Class Outstanding as of January 31,2023 Common stock,without par value 4,070,984,988 Documents Incorporated by Reference:Proxy Statement for the 2023 Annual Meeting of Shareholders(Part ID)*Not

70、 included with the 2022 Annual Report to Shareholders but available on the Investor section of our website at *PART I ITEM 1.BUSINESS Exxon Mobil Corporation was incorporated in the State of New Jersey in I 882.Divisions and affiliated companies of ExxonMobil operate or market products in the United

71、 States and most other countries of the world.Our principal business involves exploration for,and production of,crude oil and natural gas;manufacture,trade,transport and sale of crude oil,natural gas,petroleum products,petrochemicals,and a wide variety of specialty products;and pursuit of lower-emis

72、sion business opportunities including carbon capture and storage,hydrogen,and lower-emission fuels.Affiliates of ExxonMobil conduct extensive research programs in support of these businesses.Exxon Mobil Corporation has several divisions and hundreds of affiliates,many with names that include ExxonMo

73、bil,Exxon,Essa,Mobil or XTO.For convenience and simplicity,in this report the terms ExxonMobil,Exxon,Essa,Mobil,and XTO,as well as terms like Corporation,Company,our,we,and its,are sometimes used as abbreviated references to specific affiliates or groups of affiliates.The precise meaning depends on

74、the context in question.The energy and petrochemical industries are highly competitive,both within the industries and also with other industries in supplying the energy,fuel,and chemical needs of industrial and individual consumers.Certain industry participants,including ExxonMobil,are expanding inv

75、estments in lower-emission energy and emission-reduction services and technologies.The Corporation competes with other firms in the sale or purchase of needed goods and services in many national and international markets and employs all methods of competition which are lawful and appropriate for suc

76、h purposes.Operating data and industry segment information for the Corporation are contained in the Financial Section of this report under the following:Managements Discussion and Analysis of Financial Condition and Results of Operations:Business Results and Note 18:Disclosures about Segments and Re

77、lated Information.Information on oil and gas reserves is contained in the Oil and Gas Reserves part of the Supplemental Information on Oil and Gas Exploration and Production Activities portion of the Financial Section of this report.ExxonMobil has a long-standing commitment to the development of pro

78、prietary technology.We have a wide array of research programs designed to meet the needs identified in each of our business segments.ExxonMobil held over 8 thousand active patents worldwide at the end of 2022.For technology licensed to third parties,revenues totaled approximately$129 million in 2022

79、.Although technology is an important contributor to the overall operations and results of our Company,the profitability of each business segment is not dependent on any individual patent,trade secret,trademark,license,franchise,or concession.ExxonMobil operates in a highly complex,competitive,and ch

80、anging global energy business environment where decisions and risks play out over time horizons that are often decades in length.This long-term orientation underpins the Corporations philosophy on talent development.Talent development begins with recruiting exceptional candidates and continues with

81、individually planned experiences and training designed to facilitate broad development and a deep understanding of our business across the business cycle.Our career-oriented approach to talent development results in strong retention and an average length of service of about 30 years for our career e

82、mployees.Compensation,benefits,and workplace programs support the Corporations talent management approach,and are designed to attract and retain employees for a career through compensation that is market competitive,long-term oriented,and highly differentiated by individual performance.Over 60 perce

83、nt of our global employee workforce is from outside the U.S.,and over the past decade 39 percent of our global hires for management,professional and technical positions were female and 35 percent of our U.S.hires for management,professional and technical positions were minorities.With over 160 natio

84、nalities represented in the company,we encourage and respect diversity of thought,ideas,and perspective from our workforce.We consider and monitor diversity through all stages of employment,including recruitment,training,and development of our employees.We also work closely with the communities wher

85、e we operate to identify and invest in initiatives that help support local needs,including local talent and skill development.The number of regular employees was 62 thousand,63 thousand,and 72 thousand at years ended 2022,2021,and 2020,respectively.Regular employees are defined as active executive,m

86、anagement,professional,technical,and wage employees who work full time or part time for the Corporation and are covered by the Corporations benefit plans and programs.As discussed in item IA.Risk Factors in this report,compliance with existing and potential future government regulations,including ta

87、xes,environmental regulations,and other government regulations and policies that directly or indirectly affect the production and sale of our products,may have material effects on the capital expenditures,earnings,and competitive position of ExxonMobil.With respect to the environment,throughout Exxo

88、nMobil s businesses,new and ongoing measures are taken to prevent and minimize the impact of our operations on air,water,and ground,including,but not limited to,compliance with environmental regulations.These include a significant investment in refining infrastructure and technology to manufacture c

89、lean fuels,as well as projects to monitor and reduce air,water,and waste emissions,and expenditures for asset retirement obligations.Using definitions and guidelines established by the American Petroleum Institute,ExxonMobil s 2022 worldwide environmental expenditures for all such preventative and r

90、emediation steps,including ExxonMobils share of equity company expenditures,were$5.7 billion,of which$3.8 billion were included in expenses with the remainder in capital expenditures.As the Corporation progresses its emission-reduction plans,worldwide environmental expenditures are expected to incre

91、ase to approximately$7.3 billion in 2023,with capital expenditures expected to account for approximately 46 percent of the total.Costs for 2024 are anticipated to increase to approximately$8.2 billion,with capital expenditures expected to account for approximately 51 percent of the total.Information

92、 concerning the source and availability of raw materials used in the Corporations business,the extent of seasonality in the business,the possibility of renegotiation of profits or termination of contracts at the election of governments,and risks attendant to foreign operations may be found in Item I

93、A.Risk Factors and Item 2.Properties in this report.ExxonMobil maintains a website at .Our annual report on Form 10-K,quarterly reports on Form 10-Q,current reports on Form 8-K,and any amendments to those reports filed or furnished pursuant to Section 13(a)of the Securities Exchange Act of 1934 are

94、made available through our website as soon as reasonably practical after we electronically file or furnish the reports to the Securities and Exchange Commission(SEC).Also available on the Corporations website are the companys Corporate Governance Guidelines,Code of Ethics and Business Conduct,and ad

95、ditional policies as well as the charters of the audit,compensation,and other committees of the Board of Directors.Information on our website is not incorporated into this report.The SEC maintains an internet site(http:/www.sec.gov)that contains reports,proxy and information statements,and other inf

96、ormation regarding issuers that file electronically with the SEC.ITEM lA.RISK FACTORS ExxonMobils financial and operating results are subject to a variety of risks inherent in the global oil,gas,and petrochemical businesses,and the pursuit of lower-emission business opportunities.Many of these risk

97、factors are not within the companys control and could adversely affect our business,our financial and operating results,or our financial condition.These risk factors include:Supply and Demand The oil,gas,and petrochemical businesses are fundamentally commodity businesses.This means ExxonMobils opera

98、tions and earnings may be significantly affected by changes in oil,gas,and petrochemical prices and by changes in margins on refined products.Oil,gas,petrochemical,and product prices and margins in tum depend on local,regional,and global events or conditions that affect supply and demand for the rel

99、evant commodity or product.Any material decline in oil or natural gas prices could have a material adverse effect on the companys operations,financial condition,and proved reserves,especially in the Upstream segment.On the other hand,a material increase in oil or natural gas prices could have a mate

100、rial adverse effect on the companys operations,especially in the Energy Products,Chemical Products,and Specialty Products segments.Our pursuit of lower-emission business opportunities including carbon capture and storage,hydrogen,and lower-emission fuels also depends on the growth and development of

101、 markets for those products and services,including implementation of supportive government policies and developments in technology to enable those products and services to be provided on a cost-effective basis at commercial scale.See Climate Change and the Energy Transition in this Item IA.Economic

102、conditions.The demand for energy and petrochemicals is generally linked closely with broad-based economic activities and levels of prosperity.The occurrence of recessions or other periods of low or negative economic growth will typically have a direct adverse impact on our results.Other factors that

103、 affect general economic conditions in the world or in a major region,such as changes in population growth rates,periods of civil unrest,government regulation or austerity programs,trade tariffs or broader breakdowns in global trade,security or public health issues and responses,or currency exchange

104、 rate fluctuations,can also impact the demand for energy and petrochemicals.Sovereign debt downgrades,defaults,inability to access debt markets due to rating,banking,or legal constraints,liquidity crises,the breakup or restructuring of fiscal,monetary,or political systems such as the European Union,

105、and other events or conditions that impair the functioning of financial markets and institutions also pose risks to ExxonMobil,including risks to the safety of our financial assets and to the ability of our partners and customers to fulfill their commitments to ExxonMobil.Our future business results

106、,including cash flows and financing needs,will also be affected by the rate of recovery from the COVID-19 pandemic,as well as the occurrence and severity of future outbreaks,the responsive actions taken by governments and others,and the resulting effects on regional and global markets and economies.

107、2 Cybersecurity.ExxonMobil is regularly subject to attempted cybersecurity disruptions from a variety of sources including statesponsored actors.ExxonMobils defensive preparedness includes multi-layered technological capabilities for prevention and detection of cybersecurity disruptions;non-technolo

108、gical measures such as threat information sharing with governmental and industry groups;annual internal training and awareness campaigns including routine testing of employee awareness and an emphasis on resiliency,including business response and recovery.If the measures we are taking to protect aga

109、inst cybersecurity disruptions prove to be insufficient or if our proprietary data is otherwise not protected,ExxonMobil,as well as our customers,employees,or third parties,could be adversely affected.We are also exposed to potential harm from cybersecurity events that may affect the operations ofth

110、irdparties,including our partners,suppliers,service providers(including providers of cloud-hosting services for our data or applications),and customers.Cybersecurity disruptions could cause physical harm to people or the environment;damage or destroy assets;compromise business systems;result in prop

111、rietary information being altered,lost,or stolen;result in employee,customer,or thirdparty information being compromised;or otherwise disrupt our business operations.We could incur significant costs to remedy the effects of a major cybersecurity disruption in addition to costs in connection with res

112、ulting regulatory actions,litigation,or reputational harm.Preparedness.Our operations may be disrupted by severe weather events,natural disasters,human error,and similar events.For example,hurricanes may damage our offshore production facilities or coastal refining and petrochemical plants in vulner

113、able areas.Our facilities are designed,engineered,constructed,and operated to withstand a variety of extreme climatic and other conditions,with safety factors built in to cover a number of uncertainties,including those associated with wave,wind,and current intensity,marine ice flow patterns,permafro

114、st stability,storm surge magnitude,temperature extremes,extreme rainfall events,and earthquakes.Our consideration of changing weather conditions and inclusion of safety factors in design covers the engineering uncertainties that climate change and other events may potentially introduce.Our ability t

115、o mitigate the adverse impacts of these events depends in part upon the effectiveness of our robust facility engineering,our rigorous disaster preparedness and response,and business continuity planning.Insurance limitations.The ability of the Corporation to insure against many of the risks it faces

116、as described in this Item IA is limited by the availability and cost of coverage,which may not be economic,as well as the capacity of the applicable insurance markets,which may not be sufficient.Competition.As noted in Item 1 above,the energy and petrochemical industries are highly competitive.We fa

117、ce competition not only from other private firms,but also from state-owned companies that are increasingly competing for opportunities outside of their home countries and as partners with other private firms.In some cases,these state-owned companies may pursue opportunities in furtherance of strateg

118、ic objectives of their government owners,with less focus on financial returns than companies owned by private shareholders,such as ExxonMobil.Technology and expertise provided by industry service companies may also enhance the competitiveness of firms that may not have the internal resources and cap

119、abilities of ExxonMobil or reduce the need for resourceowning countries to partner with private-sector oil and gas companies in order to monetize national resources.As described in more detail above,our hydrocarbon-based energy products are also subject to growing and,in many cases,government-suppor

120、ted competition from alternative energy sources.Reputation.Our reputation is an important corporate asset.Factors that could have a negative impact on our reputation include an operating incident or significant cybersecurity disruption;changes in consumer views concerning our products;a perception b

121、y investors or others that the Corporation is making insufficient progress with respect to our ambition to play a leading role in the energy transition,or that pursuit of this ambition may result in allocation of capital to investments with reduced returns;and other adverse events such as those desc

122、ribed in this Item IA.Negative impacts on our reputation could in tum make it more difficult for us to compete successfully for new opportunities,obtain necessary regulatory approvals,obtain financing,and attract talent,or they could reduce consumer demand for our branded products.ExxonMobils reputa

123、tion may also be harmed by events which negatively affect the image of our industry as a whole.Projections,estimates,and descriptions ofExxonMobils plans and objectives included or incorporated in Items 1,lA,2,7,and 7A of this report are forward-looking statements.Actual future results,including pro

124、ject completion dates,production rates,capital expenditures,costs,and business plans could differ materially due to,among other things,the factors discussed above and elsewhere in this report.ITEM lB.UNRESOLVED STAFF COMMENTS None.6 15,775+24,090-110-880-2,40036,4792021 EarningsPriceVolume/MixOtherI

125、dentified Items(1)2022 Earnings(20,030)+14,960-340+2,040+19,15015,7752020 EarningsPriceVolume/MixOtherIdentified Items(1)2021 Earnings(347)+14,360+1,060+570-68014,9662021 EarningsMarginsVolume/MixOtherIdentified Items(1)2022 Earnings(2,572)+1,360-90+320+640(347)2020 EarningsMarginsVolume/MixOtherIde

126、ntified Items(1)2021 Earnings6,989-3,030-170-2503,5432021 EarningsMarginsVolume/MixOther2022 Earnings2,257+4,370+130+130+1056,9892020 EarningsMarginsVolume/MixOtherIdentified Items(1)2021 Earnings3,259-220+20+30-6702,4152021 EarningsMarginsVolume/MixOtherIdentified Items(1)2022 Earnings1,201+680+300

127、+220+8603,2592020 EarningsMarginsVolume/MixOtherIdentified Items(1)2021 EarningsINTENTIONALLY LEFT BLANK133ADDITIONAL INFORMATIONStock Performance Graphs135Definitions136Footnotes136Board of Directors138134STOCK PERFORMANCE GRAPHS(unaudited)The annual total shareholder return(TSR)to ExxonMobil share

128、holders was 87.0 percent in 2022.The 5-year TSR through2022 was 11.4 percent,and the 10-year return was 6.9 percent.TSR is calculated as the year-over-year change in share priceplus dividends paid,assuming dividend reinvestment.The graphs below show the relative investment performance of Exxon-Mobil

129、 common stock,the S&P500,and an industry competitor group over the last five and ten years.The industry competitorgroup consists of four other international integrated oil companies:BP,Chevron,Shell,and TotalEnergies.135FIVE-YEAR CUMULATIVE TOTAL SHAREHOLDER RETURNS4$250200150100500(value of$100 inv

130、ested at year-end 2017)ExxonMobilIndustry GroupS&P 5002002020212022ExxonMobil171S&P 500192157Industry Group7140Fiscal years ended December 31TEN-YEAR CUMULATIVE TOTAL SHAREHOLDER RETURNS4$4003002001000(value of$100 invested at year-end 2012)ExxonMobilIndus

131、try GroupS&P 5002012ExxonMobil66195S&P 5009310327Industry Group998192Fiscal years ended December 3389202020202202022136DEFINITIONSListed below are definitions of several of ExxonMobils key business and

132、 financial performance measures and otherterms.These definitions are provided to facilitate understanding of the terms and their calculation.Capital and exploration expenditures(Capex)Represents the combined total of additions at cost to property,plant,andequipment,and exploration expenses on a befo

133、re-tax basis from the Consolidated Statement of Income.ExxonMobils Capexincludes its share of similar costs for equity companies.Capex excludes assets acquired in nonmonetary exchanges,the valueof ExxonMobil shares used to acquire assets,and depreciation on the cost of exploration support equipment

134、and facilities re-corded to property,plant,and equipment when acquired.While ExxonMobils management is responsible for all investmentsand elements of net income,particular focus is placed on managing the controllable aspects of this group of expenditures.Performance product(performance chemicals)Ref

135、ers to Chemical products that provide differentiated performance formultiple applications through enhanced properties versus commodity alternatives and bring significant additional value tocustomers and end users.Project The term“project”as used in this presentation can refer to a variety of differe

136、nt activities and does not necessarilyhave the same meaning as in any government payment transparency reports.Further,a reference to“project”or“opportunity”does not signify that the company has reached a final investment decision.Individual opportunities may advance based on anumber of factors,inclu

137、ding availability of supportive policy,technology for cost-effective abatement,and alignment withour partners and other stakeholders.The company may refer to these opportunities as projects in external disclosures at vari-ous stages throughout their progression.Returns,rates of return,internal rate

138、of return(IRR)Unless referring specifically to external data,references to returns,rate of return,IRR,and similar terms mean future discounted cash flow returns on future capital investments based on currentcompany estimates.Investment returns exclude prior exploration and acquisition costs.Total sh

139、areholder return(TSR)Measures the change in value of an investment in stock over a specified period of time,assuming dividend reinvestment.We calculate shareholder return over a particular measurement period by:dividing(1)thesum of(a)the cumulative value of dividends received during the measurement

140、period,assuming reinvestment,plus(b)thedifference between the stock price at the end and at the beginning of the measurement period;by(2)the stock price at thebeginning of the measurement period.For this purpose,we assume dividends are reinvested in stock at market prices at ap-proximately the same

141、time actual dividends are paid.Shareholder return is usually quoted on an annualized basis.FOOTNOTES(Pages I through VIII and Page 135)1.One-year(2022)results;industry peer group includes BP,Chevron,Shell,and Total Energies.2.For definitions and more information on Structural Cost Savings,see Page 3

142、9 of ExxonMobils 2022 Form 10-K whichforms part of this Report.3.For definitions and more information on return on average capital employed,see Page 35 of ExxonMobils 2022 Form 10-Kwhich forms part of this Report.4.See Stock Performance Graphs on Page 135.Source:S&PGlobal Platts.5.Based on full-year

143、 2022 ExxonMobil workforce(includes employees and contractors)Lost Time Incident Rate data as ofJanuary 11,2023.Benchmark sources:American Fuel&Petrochemical Manufacturers(AFPM)Report of OccupationalInjuries and Illnesses,International Association of Oil&Gas Producers(IOGP)Safety performance indicat

144、ors.Dataconverted from incidents per 1,000,000 work hours to incidents per 200,000 work hours.6.Applies to Scope 1 and 2 greenhouse gas emissions from operated assets.Emission metrics are based on assets operated byExxonMobil using performance and plan data for full-year 2022 available as of March 1

145、,2023.The greenhouse gas intensitymetric includes Scope 2 market-based emissions.ExxonMobil reported emissions,reductions,and avoidance performancedata are based on a combination of measured and estimated emissions data using reasonable efforts and collection methods.Calculations are based on indust

146、ry standards and best practices,including guidance from the American Petroleum Institute(API)and Ipieca.There is uncertainty associated with the emissions,reductions,and avoidance performance data due tovariation in the processes and operations,the availability of sufficient data,quality of those da

147、ta,and methodology used formeasurement and estimation.Performance data may include rounding.Changes to the performance data may be reportedas part of the Companys annual publications as new or updated data and/or emission methodologies become available.ExxonMobil works with industry,including API an

148、d Ipieca,to improve emission factors and methodologies,includingmeasurements and estimates.1377.References to routine flaring herein are consistent with theWorld Banks Zero Routine Flaring Initiative/Global Gas FlaringReduction Partnerships(GGFRP)principle of routine flaring,and exclude safety and n

149、on-routine flaring.8.NorthAmerica refining throughput record on a same-site basis.9.Based on ExxonMobil analysis for U.S.vehicles in 2022.10.April 2018 report of Franklin Associates on Life Cycle Impacts of Plastic Packaging Compared to substitutes(April 2018Franklin Associates Report);U.S.packaging

150、 market;alternatives include steel,aluminum,glass,paper-based packaging,fiber-based textiles,and wood(Table 4-14).Source:https:/ global refining throughput since 2012 on a same-site basis.12.Increased plastic production capacity based on polyethylene and polypropylene production capacity growth sinc

151、e fourthquarter 2021,before the start-up of the Corpus Christi chemical complex.13.Attributed using the International Sustainability&Carbon Certification(ISCC)PLUS mass balance approach.14.Based on ExxonMobil analysis and an assumed weight of 5.5 grams for a typical plastic grocery bag.15.The Baytow

152、n hydrogen facility has not reached final investment decision.Individual opportunities may advance based on anumber of factors,including supportive policy,technology,and market conditions.16.Source:ExxonMobil analysis of EPAFacility Level Information on Greenhouse Gases Tool,2019 data as of Feb.15,2

153、022.17.Statements of potential future earnings and cash flow assume$60/bbl Brent crude prices and$3/mmbtu Henry Hub gasprices,adjusted for inflation from 2022;Energy,Chemical,and Specialty Product margins at historical averages for the 10-year period from 2010-2019;and before tax Corporate&Financing

154、 expenses between$2.3 and$2.5 billion annually.2019baseline excludes identified items.Price assumptions are not intended to reflect managements forecasts for future prices orthe prices we use for internal planning purposes.18.2030 emission-reduction plans include a 20-to 30-percent reduction in corp

155、orate-wide greenhouse gas intensity,40-to50-percent reduction in upstream greenhouse gas intensity,70-to 80-percent reduction in corporate-wide methane intensity,and 60-to 70-percent reduction in corporate-wide hydrocarbon flaring intensity.Plans cover Scope 1 and Scope 2 emissionsforassetsoperatedb

156、ythecompany,versus2016levels.ExxonMobils2030GHGemissionreductionplans,https:/ investment portfolio delivers 10%return on a capital-weighted basis under current and potential futuregovernment policies based on ExxonMobil projections.Exxon Mobil Corporation has numerous affiliates,many with names that

157、 includeExxonMobil,Exxon,Mobil,Esso,andXTO.For convenience and simplicity,those terms and terms such as Corporation,company,our,we,and its are sometimes used asabbreviated references to specific affiliates or affiliate groups.Abbreviated references describing global or regional operationalorganizati

158、ons,andglobalorregionalbusinesslinesarealsosometimesusedforconvenienceandsimplicity.Similarly,ExxonMobilhas business relationships with thousands of customers,suppliers,governments,and others.For convenience and simplicity,wordssuch as venture,joint venture,partnership,co-venturer,and partner are us

159、ed to indicate business and other relationships involvingcommon activities and interests,and those words may not indicate precise legal relationships.The following are trademarks,service marks,or proprietary process names of Exxon Mobil Corporation or one of its affiliates:Exxon,ExxonMobil,ExxonMobi

160、l Low Carbon Solutions,Mobil,Mobil 1,andMobil EV.BOARD OF DIRECTORS138Michael J.AngelakisChairman of the Board andChief Executive Officer,Atairos Group Inc.(financial services)Director since 2021Susan K.AveryPresident Emerita,Woods HoleOceanographic Institution(nonprofit ocean research,exploration,a

161、nd education)Director since 2017Angela F.BralyFormer Chairman of the Board,President,and Chief Executive Officer,WellPoint,Inc.(now Elevance Health)(health insurance)Director since 2016Gregory J.GoffFormer Executive Vice Chairmanof the Board,Marathon Petroleum Corporation(refining and marketing)Dire

162、ctor since 2021Kaisa H.HietalaFormer Executive Vice Presidentof Renewable Products atNeste Corporation(renewable energy)Director since 2021StevenA.KandarianFormer Chairman of the Board,President,and Chief Executive Officer,MetLife(insurance)Director since 2018AlexanderA.KarsnerSenior Strategist at X

163、(formerly Google X)(technology)Director since 2021Jeffrey W.UbbenFounder,Portfolio Manager,and Managing Partner,Inclusive Capital Partners,L.P.(financial services)Director since 2021Darren W.WoodsChairman of the Board andChief Executive OfficerDirector since 2016Audit CommitteeU.M.Burns(Chair),M.J.A

164、ngelakis,G.J.Goff,J.D.HarrisII,K.H.HietalaCompensation CommitteeA.F.Braly(Chair),J.D.HarrisII,J.L.Hooley,S.A.KandarianEnvironment,Safety and Public Policy CommitteeS.K.Avery(Chair),A.F.Braly,A.A.Karsner,L.W.Kellner,J.W.UbbenFinance CommitteeM.J.Angelakis(Chair),U.M.Burns,G.J.Goff,K.H.Hietala,J.W.Ubb

165、en,D.W.WoodsNominating and Governance CommitteeJ.L.Hooley(Chair),S.K.Avery,S.A.Kandarian,A.A.Karsner,L.W.KellnerExecutive CommitteeD.W.Woods(Chair),M.J.Angelakis,U.M.Burns,G.J.Goff,J.L.HooleySTANDING COMMITTEES OFTHE BOARDAs of January 24,2023As of January 1,2023Joseph L.Hooley(Lead Director)Former

166、Chairman of the Board,President,and Chief Executive Officer,State Street Corporation(financial services)Director since 2020Lawrence W.KellnerChair of the Board,The Boeing Company(aviation);President,Emerald Creek Group,LLC(private equity)Director since 2023John D.Harris IIFormer Chief Executive Offi

167、cer,Raytheon International,Inc.(space and defense)Director since 2023Ursula M.BurnsFormer Chairman of the Boardand Chief Executive Officer,VEON Ltd.(telecommunication services)Director since 2012Shareholder inquiries should be addressed toExxonMobil Shareholder Services at ComputershareTrust Company

168、,N.A.,ExxonMobils transfer agent:ExxonMobil Shareholder Servicesc/o ComputershareP.O.Box 43006Providence,RI 02940-3006An automated voice-response system is available24 hours a day,7 days a week.Service representatives are available Monday through Friday 8 a.m.to 8 p.m.Eastern Time.Registered shareho

169、lders can access information about their ExxonMobil stock accounts via the internet at copies may be obtained from:Shareholder relationsExxon Mobil CorporationAttn:Shareholder Relations22777 Springwoods Village ParkwaySpring,TX 77389-1425Email:The New York Stock Exchange is the principal exchange on

170、 which Exxon Mobil Corporation common stock is traded.Computershare Trust Company,N.A.,sponsors astock purchase and dividend reinvestment plan,theComputershare Investment Plan for Exxon MobilCorporation Common Stock.For more information and plan materials,go to or call or write ExxonMobil Shareholde

171、r Services.The 2023 Annual Meeting of Shareholders will be held virtually at 9:30 a.m.Central Time on Wednesday,May 31,2023.Important shareholder information is available Dividend Information Earnings and Financials Investor Presentations Stock Quote Contact Information News Releases Corporate Gover

172、nanceMarket informationStock purchase and dividend reinvestment planAnnual shareholder meetingStock symbol:XOM 2 0 2 3 E X X O N M O B I L C O R P O R A T I O N1-800-252-1800(Within the United States and Canada)1-781-575-2058(Outside the United States and Canada)Cautionary Statement Statements of pl

173、ans,objectives,ambitions,and other future events or conditions are forward-looking statements.Actual future results,including financial and operating performance;total capital expenditures and mix,including allocations of capital to low carbon solutions;cost reductions and efficiency gains;plans to

174、reduce future emissions and emissions intensity,including Scope 1 and 2 net zero in Upstream Permian Basin unconventional operated assets by 2030;timing and outcome of projects to capture and store CO2,and produced biofuels;timing and outcome of hydrogen projects;plans for plastics recycling;cash fl

175、ow,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;and resource recoveries and production rates could differ materially due to a number of factors.These includ

176、e global or regional changes in the supply and demand for oil,natural gas,petrochemicals,and feedstocks and other market factors,economic conditions or seasonal fluctuations that impact prices and differentials for our products;government policies supporting lower carbon investment opportunities;act

177、ions of competitors and commercial counterparties;the outcome of commercial negotiations,including final agreed terms and conditions;the ability to access debt markets;impacts of future COVID-19 or other public health crises,including the effects of government responses on people and economies;reser

178、voir performance;the outcome of exploration projects;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;changes in law,taxes,or regulation including environmental regul

179、ations,trade sanctions,taxes that limit the attractiveness of future investments,and timely granting of permits and certifications;war,civil unrest,and other political or security disturbances;expropriations,seizure,or capacity,insurance or shipping limitations;opportunities for potential investment

180、s or divestments and satisfaction of applicable conditions to closing;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 a

181、nd 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 here and in Item 1A.Risk Factors,and under Forward Looking Statements on

182、 Page 42 of our 2022 Form 10-K which forms part of this report.All forward-looking statements are based on managements knowledge and reasonable expectations at the time of this report and we assume no duty to update these statements as of any future date.Unless otherwise specified,data shown is for

183、2022.Prior years data have been reclassified in certain cases to conform to the 2022 presentation basis.Unless otherwise stated,resources,production rates,and project capacities are gross.References to“emissions”refer to energy-related emissions.Investor informationShareholder services13 9Sign up to learn more about ExxonMobil002CSND8F4Printed in U.S.A.For more information,visit Exxon Mobil Corporation22777 Springwoods Village ParkwaySpring,TX 77389-1425