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1、2023First-quarter earningsResults demonstrate structural earnings improvements04.28.23Cautionary StatementFORWARD-LOOKING STATEMENTS.Statements of future events,conditions,expectations,plans,or ambitions in this presentation or the subsequent discussion period are forward-looking statements.Similarl
2、y,discussions of future carbon capture,transportation and storage,as well as biofuels,hydrogen and other plans to reduce emissions are dependent on future market factors,such as continued technological progress,policy support and timely rule-making and permitting,and represent forward-looking statem
3、ents.Actual future results,including financial and operating performance;potential earnings,cash flow,and rates of return;total capital expenditures and mix,including allocations of capital to low carbon solutions;structural earnings improvement and structural cost reductions and efficiency gains,in
4、cluding the ability to offset inflationary pressures;ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050,plans to reach net zero Scope 1 and 2 emissions in Upstream Permian Basin unconventional operated assets by 2030,eliminating routine flaring in-line with World Bank Zero
5、Routine Flaring,reaching near-zero methane emissions from its operations,meeting ExxonMobils emission reduction plans and goals,divestment and start-up plans,and associated project plans as well as technology efforts;success in or development of future business markets like carbon capture,transporta
6、tion and storage,hydrogen or biofuels;maintenance and turnaround activity;drilling and improvement programs;price and margin recovery;shareholder distributions;planned integration benefits;resource recoveries and production rates;and product sales levels and mix could differ materially due to a numb
7、er of factors.These include global or regional changes in oil,gas,petrochemicals,or feedstock prices,differentials,seasonal fluctuations,or other market factors,economic conditions or seasonal fluctuations affecting the oil,gas,and petrochemical industries and the demand for our products;government
8、policies supporting lower carbon investment opportunities such as the U.S.Inflation Reduction Act or policies limiting the attractiveness of investments such as European taxes on the energy sector;variable impacts of trading activities each quarter;policy and consumer support for emission-reduction
9、products and technology;the outcome of competitive bidding and project wins;regulatory actions targeting public companies in the oil and gas industry;changes in local,national,or international laws,regulations,and policies affecting our business including with respect to the environment;taxes,trade
10、sanctions,and actions taken in response to pandemic concerns;the ability to realize efficiencies within and across our business lines and to maintain current cost reductions as efficiencies without impairing our competitive positioning;the outcome and timing of exploration and development projects;d
11、ecisions to invest in future reserves;reservoir performance,including variability in unconventional projects;the level and outcome of exploration projects and decisions to invests in future resources;timely completion of construction projects;war,civil unrest,attacks against the company or industry,
12、and other political or security disturbances;expropriations,seizures,and capacity,insurance or shipping limitations by foreign governments or international embargoes;changes in consumer preferences;opportunities for and regulatory approval of investments or divestments that may arise;the outcome of
13、our or competitors research efforts and the ability to bring new technology to commercial scale on a cost-competitive basis;the development and competitiveness of alternative energy and emission reduction technologies;unforeseen technical or operating difficulties including the need for unplanned ma
14、intenance;and other factors discussed here and in Item 1A.Risk Factors of our Annual Report on Form 10-K and under the heading“Factors Affecting Future Results”available through the Investors page of our website at .All forward-looking statements are based on managements knowledge and reasonable exp
15、ectations at the time of this presentation and we assume no duty to update these statements as of any future date.Neither future distribution of this material nor the continued availability of this material in archive form on our website should be deemed to constitute an update or re-affirmation of
16、these figures as of any future date.Any future update of these figures will be provided only through a public disclosure indicating that fact.Reconciliations and definitions of non-GAAP and other terms are provided in the text or in the supplemental information accompanying these slides beginning on
17、 page 19.2Executing on our strategic priorities Delivering structural earnings improvements driven by growing advantaged assets,mix improvements,and structural cost reductions,consistent with Corporate Plan Expanded energy supply to meet growing demand by increasing production in Guyana and Permian
18、and started up the 250 Kbd Beaumont refinery expansion Announced final investment decision for the Uaru offshore development and two new discoveries in Guyana Delivered reliable operations and top-quartile turnaround performance1 Continued growth in Low Carbon Solutions business with a new CCS agree
19、ment Further enhancing execution and efficiency by forming three new centralized organizations:Global Business Solutions,ExxonMobil Supply Chain,and Global TradingLeading Performance|Essential Partner|Advantaged Portfolio|Innovative Solutions|Meaningful Development3See Supplemental Information for f
20、ootnotes and definitions.Diversified portfolio provides resiliency across cycles Crude and gas prices lower on higher inventories Refining margins moderated slightly;remained above 10-year range reflecting continued low product inventories Chemical margins improved on North America ethane feed cost;
21、remained low due to continued bottom-of-cycle conditions in Asia PacificSee Supplemental Information for footnotes.Natural gas prices and refining margins not to scale outside of 10-year annual range.41Q2210-year annual range(2010-2019)4Q221Q23Industry prices/margins10-year annual range1Crude prices
22、2($/bbl)Natural gas prices3($/mbtu)Refiningmargins4($/mbtu)Chemicalmargins5($/tonne)See page 6 and Supplemental Information for footnotes,definitions,and reconciliations.$11.4billionEarnings ex.identified items were$11.6 billionEarnings$16.3billionIncreased cash balance by$3.0 billionCash flow from
23、operations$7.2billionvs.2019;on track to deliver$9 billion by year-endStructural cost savings17%Reduced net debt-to-capital to 4%Debt-to-capitalratio300Koebdvs.1Q22,ex.divestments,Sakhalin-1 expropriation,and entitlements1Production growth$8.1billionincluding$3.7 billion of dividendsShareholder dist
24、ributions5Structural earnings improvements delivering shareholder valueContinued cost control and mix improvements drove record first-quarter results Liquids and natural gas realizations decreased due to higher industry inventories Advantaged growth projects,reliability,and mix improvements more tha
25、n offset higher scheduled maintenance and fewer days in the quarter Disciplined cost management and seasonally lower expenses offset higher scheduled maintenance Other driven by absence of year-end inventory effects and lower corporate and financing costs Unsettled derivatives mainly reflects absenc
26、e of favorable Upstream MTM impact in prior quarterU/SEPCPSPC&FTOTAL4Q22 GAAP Earnings/(Loss)$8.2$4.1$0.3$0.8($0.5)$12.8Additional European taxes on energy sector(1.4)(0.4)-(1.8)Sakhalin-1 expropriation1.1-1.1Impairments(0.2)(0.3)-(0.0)-(0.5)4Q22 Earnings/(Loss)ex.identified items(non-GAAP)$8.8$4.8$
27、0.3$0.8($0.5)$14.0Price/margin(1.4)(0.1)0.2(0.1)-(1.5)Volume/mix0.3(0.2)0.00.1-0.3Expenses 0.2(0.0)(0.1)0.1-0.2Other0.8(0.6)(0.0)(0.1)0.20.2Unsettled derivatives mark-to-market(MTM)(2.0)0.4-(1.6)1Q23 Earnings/(Loss)ex.identified items(non-GAAP)$6.6$4.2$0.4$0.8($0.4)$11.6Additional European taxes on
28、energy sector(0.2)(0.0)-(0.2)1Q23 GAAP Earnings/(Loss)$6.5$4.2$0.4$0.8($0.4)$11.4Billions of dollars unless specified otherwise.Due to rounding,numbers presented above may not add up precisely to the totals indicated.See Supplemental Information for definitions.6Growth in our advantaged Permian,Guya
29、na,and LNG assets contributed to volume/mix improvementRobust cost control and seasonally lower expensesOther reflects absence of year-end inventory effects Unsettled derivatives mainly reflects absence of favorable MTM impact from prior quarterSee page 6 for reconciliations.4Q22 ex.ident.itemsDayef
30、fectUpstreamContributing factors to change in earningsMillion USD1Q23 ex.ident.itemsOtherPrice770Other volume/mixExpenses1Q23 ex.unsettled derivatives MTM(2,010)Unsettled derivatives MTM$6,615$8,762(1,440)(220)570180$8,628GasLiquidsUpstream:continued strong earnings driven by growth from advantaged
31、projects and disciplined cost management7$350 million Volume/mixIncreased production by 160 Koebd versus 1Q22-Growth of 300 Koebd,excluding impacts from divestments,Sakhalin-1 expropriation,and entitlements1Advantaged projects delivered growth despite loss from divestments and Sakhalin-1 expropriati
32、on-40%production growth in Guyana and Permian versus 1Q22Improved reliabilityUpstream production growth supported by advantaged projects3,675 3,831 Downtime/other60Divest-mentsUpstreamContributing factors to change in volumesKoebd,net1Q22(70)Entitle-ments(130)Sakhalin-1210Growth901Q238See Supplement
33、al Information for footnotes and definitions.Beaumont refinery expansion start-up and reliable operations partially offset higher scheduled maintenance and fewer days in the quarter Disciplined cost management and seasonally lower expenses offset higher spend from scheduled maintenance Other reflect
34、s absence of fourth quarter favorable inventory and forex impacts Unsettled derivatives mainly reflects absence of unfavorable MTM impact from prior quarterEnergy Products:reliable execution and cost control drove strong performance9See page 6 for reconciliations.9(340)Day effectEnergy ProductsContr
35、ibuting factors to change in earningsMillion USD4Q22 ex.ident.itemsMarginOther320Scheduled maintenance(volume)$4,754Other volume/mixExpenses380(640)1Q23 ex.unsettled derivatives MTMUnsettled derivatives MTM1Q23 ex.ident.items(140)(110)$3,838(10)$4,213($160)million Volume/mix North American ethane ad
36、vantage strengthened margins Baton Rouge polypropylene expansion delivered positive cash and earnings in first full quarter of operation Favorable product mix drove volume/mix improvement Scheduled maintenance spend more than offset lower expensesChemical Products:advantaged geographic footprint and
37、 improved mix drove earnings growth10See page 6 for reconciliations.MarginChemical ProductsContributing factors to change in earningsMillion USD(50)4Q22 ex.ident.itemsVolume/mix18030(40)ExpensesOther1Q23ex.ident.items$250$37110 Strong finished lubricants earnings contribution partially offset lower
38、basestocks prices Higher sales driven by China recovery and strengthening U.S.market position for full synthetic finished lubricants Tight cost control and seasonally lower expenses Other reflects absence of favorable year-end inventory impactsSpecialty Products:consistently strong performance 11See
39、 page 6 for reconciliations.Specialty ProductsContributing factors to change in earningsMillion USD4Q22ex.ident.itemsExpenses(140)MarginVolume/mix110(100)100$800Other1Q23ex.ident.items$77411 Robust earnings drove free cash flow of$11.4 billion Debt-to-capital stands at 17%;net debt-to-capital reduce
40、d to 4%Distributed$8.1 billion to shareholders,including$3.7 billion in dividends On pace to complete up to$17.5 billion of share repurchases in 2023Historically strong cash flowsSee Supplemental Information for footnotes,definitions,and reconciliations.Debt4Q22cashCash flowBillion USD16.3CFO(5.8)Ca
41、sh capex1Assetsales(8.1)Shareholder distributionsOther1Q23 cash$29.70.9(0.3)(0.0)$32.7$11.4 billion free cash flow12122Q23 outlookUpstreamProductSolutionsCorporateChemical ProductsSpecialty ProductsEnergy Products Seasonal scheduled maintenance and divestments to lower net volumes by 110 Koebd Corpo
42、rate and financing expenses expected to be$400 million Unfavorable working capital impact of$3 billion driven by seasonal cash tax payments First full quarter of Beaumont refinery expansion operations Lower scheduled maintenance Lower scheduled maintenance13 Higher scheduled maintenanceSee Supplemen
43、tal Information for definitions.2023 advantaged project start-ups meet global needs and further enhance performanceBeaumont Refinery Expansion1Q23 start-upBaytown Performance ChemicalsMid-2023 start-upGuyana Payara Development4Q23 start-upPermian Cowboy Central Delivery Point ExpansionPhased 2023 st
44、art-up Adds 750 Kta of performance chemicals production Entry into linear alpha olefins market$150-$225 million annual earnings at average margins1 3rdmajor offshore development 220 Kbd of new production capacity FPSO arrived offshore in April 3rdconsecutive FPSO starting ahead of schedule Unique sc
45、ale advantage from oil and gas handling facility 50%increase in processing capacity Expands integration advantage with U.S.Gulf Coast assets Added 250 Kbd of crude capacity Largest U.S.refinery expansion in 10 years Integration advantage with Permian assets$200-$300 million annual earnings at averag
46、e margins114See Supplemental Information for footnotes and definitions.Key takeaways:strong performance underpinned by structural earnings improvement A record first quarter following a record year Structural earnings improvement drives shareholder value creation-Diversified portfolio delivers accre
47、tive growth opportunities through cycles-Advantaged projects and mix improvements provide earnings and cash flow growth runway-Structural cost improvements and robust cost control help drive performance Fortress balance sheet supports capital allocation priorities through cycles Uniquely positioned
48、as leader in the energy transition-Growing new Low Carbon Solutions business while reducing our own emissions15See Supplemental Information for definitions and reconciliations.Q&A04.28.23Outlook for second quarter 2023See Supplemental Information for footnotes.0100200300Chemical Products scheduled m
49、aintenance earnings impact2Million USD2022 quarterly average4Q222001Q231602Q23 est.03060902022 quarterly average50Specialty Products scheduled maintenance earnings impact4Million USD4Q221Q23602Q23 est.25045002004006004Q22Upstream scheduled maintenance earnings impact1Million USD2022 quarterly averag
50、e1Q232Q23 est.03006009001Q23Energy Products scheduled maintenance earnings impact3Million USD2Q23 est.2022 quarterly average4Q2239053017Upstream production supported by advantaged projects183,822 3,831 EntitlementsUpstreamContributing factors to change in volumesKoebd,net4Q22(30)Downtime/otherDivest
51、ments50Growth1Q23(0)(10)18Increased production by 10 Koebd versus 4Q22-Growth of 50 Koebd,excluding impacts from divestments,entitlements,and other factors1Advantaged projects delivered growth despite loss from divestments-More than 5%production growth in Guyana and Permian versus 4Q22See Supplement
52、al Information for footnotes and definitions.Supplemental informationExxonMobil reported emissions,including reductions and avoidance performance data,are based on a combination of measured and estimated data.Calculations are based on industry standards and best practices,including guidance from the
53、 American Petroleum Institute(API)and Ipieca.Emissions reported are estimates only,and performance data depends on variations in processes and operations,the availability of sufficient data,the quality of those data and methodology used for measurement and estimation.Emissions data is subject to cha
54、nge as methods,data quality,and technology improvements occur,and changes to performance data may be updated.Emissions,reductions and avoidance estimates for non-ExxonMobil operated facilities are included in the equity data and similarly may be updated as changes in the performance data are reporte
55、d.ExxonMobils plans to reduce emissions are good faith efforts based on current relevant data and methodology,which could be changed or refined.ExxonMobil works to continuously improve its approach to identifying,measuring and addressing emissions.ExxonMobil actively engages with industry,including
56、API and Ipieca,to improve emission factors and methodologies,including measurements and estimates.All references to production rates,project capacity,resource size,and acreage are on a gross basis,unless otherwise noted.Actions needed to advance the Companys 2030 greenhouse gas emission-reductions p
57、lans are incorporated into its medium-term business plans,which are updated annually.The reference case for planning beyond 2030 is based on the Companys Energy Outlook research and publication.The Outlook is reflective of the existing global policy environment.The Energy Outlook does not attempt to
58、 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 Companys business plans will be updated accordingly.Ex
59、xonMobil has business relationships with thousands of customers,suppliers,governments,and others.For convenience and simplicity,words such as venture,joint venture,partnership,co-venturer,operated by others,and partner are used to indicate business and other relationships involving common activities
60、 and interests,and those words may not indicate precise legal relationships.See the Cautionary Statement at the front of this presentation for additional information regarding forward-looking statements.19Supplemental InformationDEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONSCapital and e
61、xploration expenditures(Capex).Represents the combined total of additions at cost to property,plant and equipment,and exploration expenses on a before-tax basis from the Consolidated Statement of Income.ExxonMobils Capex includes its share of similar costs for equity companies.Capex excludes assets
62、acquired in nonmonetary exchanges,the value of ExxonMobil shares used to acquire assets,and depreciation on the cost of exploration support equipment and facilities recorded to property,plant and equipment when acquired.While ExxonMobils management is responsible for all investments and elements of
63、net income,particular focus is placed on managing the controllable aspects of this group of expenditures.Cash operating expenses excluding energy and production taxes.Subset of total operating costs that are stewarded internally to support managements oversight of spending over time.This measure is
64、useful for investors to understand our efforts to optimize cash through disciplined expense management for items within managements control.Debt to capital(debt-to-capital,debt-to-capital ratio,leverage).Total debt/(total debt+total equity).Total debt is the sum of(1)Notes and loans payable and(2)Lo
65、ng-term debt,as reported in Form 10-Q along with Total equity.Distributions to shareholders(shareholder distributions).The Corporation distributes cash to shareholders in the form of both dividends and share purchases.Shares are acquired to reduce shares outstanding and offset shares or units settle
66、d in shares issued in conjunction with company benefit plans and programs.For purposes of calculating distributions to shareholders,the Corporation includes only the cost of those shares acquired to reduce shares outstanding.Divestments.Refers to asset sales;results include associated cash proceeds
67、and production impacts,as applicable,and are consistent with our internal planning.Net debt to capital(net debt-to-capital).Defined as“net debt/(net debt+total equity)”where net debt is net of cash and cash equivalents,excluding restricted cash.Operating costs(Opex).Operating costs are the costs dur
68、ing the period to produce,manufacture,and otherwise prepare the companys products for sale including energy,staffing,and maintenance costs.They exclude the cost of raw materials,taxes,and interest expense and are on a before-tax basis.While ExxonMobils management is responsible for all revenue and e
69、xpense elements of net income,operating costs,as defined above,represent the expenses most directly under managements control,and therefore are useful for investors and ExxonMobil management in evaluating managements performance.For information concerning the calculation and reconciliation of operat
70、ing costs see the table on slide 22.20Supplemental InformationDEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONSPerformance product(performance chemicals).Refers to Chemical products that provide differentiated performance for multiple applications through enhanced properties versus commodit
71、y alternatives and bring significant additional value to customers and end-users.Project.The term“project”as used in this presentation 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
72、 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 opportunit
73、ies as projects in external disclosures at various stages throughout their progression.Returns,rate 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
74、current company estimates.Investment returns exclude prior exploration and acquisition costs.Structural cost savings(structural cost reductions,structural savings,structural cost improvements).Structural cost savings describe decreases in cash operating expenses excluding energy and production taxes
75、 as a result of operational efficiencies,workforce reductions and other cost saving measures that are expected to be sustainable compared to 2019 levels.Relative to 2019,estimated cumulative annual structural cost savings totaled$7.2 billion,which includes an additional$0.3 billion in the first thre
76、e months of 2023.The total change between periods in expenses 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.Estimates of cumul
77、ative 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 managements oversight of spending over time.This measure is useful for in
78、vestors to understand our efforts to optimize spending through disciplined expense management.For information concerning the calculation and reconciliation of operating costs see the table on slide 22.Structural earnings improvements.Structural earnings improvements consist of efforts to improve ear
79、nings on a like-for-like price and margin basis and incorporate improvement efforts by the corporation such as growing advantaged assets,mix improvements,and structural cost reductions.21Billions of dollars unless specified otherwise.Due to rounding,numbers presented above may not add up precisely t
80、o the totals indicated.Supplemental Information22CALCULATION OF STRUCTURAL COST SAVINGS201920221Q221Q23Components of operating costsFrom ExxonMobils Consolidated statement of income(U.S.GAAP)Production and manufacturing expenses36.842.610.29.4Selling,general and administrative expenses11.410.12.42.4
81、Depreciation and depletion(includes impairments)19.024.08.94.2Exploration expenses,including dry holes1.31.00.20.1Non-service pension and postretirement benefit expense1.20.50.10.2Subtotal69.778.221.816.4ExxonMobils share of equity company expenses(Non-GAAP)9.113.02.62.7Total operating costs(Non-GAA
82、P)78.891.224.419.1Less:Depreciation and depletion(includes impairments)19.024.08.94.2Non-service pension and postretirement benefit expense1.20.50.10.2Other adjustments(includes equity company depreciation and depletion)3.63.50.80.8Total cash operating expenses(cash opex)(Non-GAAP)55.063.214.613.9En
83、ergy and production taxes(Non-GAAP)11.023.85.24.3Total cash operating expenses(cash opex)excluding energy and production taxes(Non-GAAP)44.039.49.49.6vs.2019vs.1Q22CumulativeChange:-5+0.2Market+3+0.2Activity/Other-1+0.3Structural savings-7-0.3-7.2FREE CASH FLOW1Q23Net cash provided by operating acti
84、vities(U.S.GAAP)16,341Additions to property,plant and equipment(5,412)Proceeds associated with sales of subsidiaries,property,plant and equipment,and sales and returns of investments854Additional investments and advances(445)Other investing activities including collection of advances78Free cash flow
85、(Non-GAAP)11,416Supplemental Information23Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities.This measure is useful when evaluating cash available for financing activities,including shareholder distributions,after investment in the b
86、usiness.Free cash flow is not meant to be viewed in isolation or as a substitute for net cash provided by operating activities.For information concerning the calculation and reconciliation of free cash flow for historical periods,please see the Frequently Used Terms available on the Investors page o
87、f the companys website at under the heading Resources.Cash capital expenditures(Cash Capex).Sum of Additions to property,plant and equipment,Additional investments and advances,and Other investing activities including collection of advances from the Consolidated Statement of Cash Flows.This measure
88、is useful for investors to understand the current period cash impact of investments in the business.CASH CAPITAL EXPENDITURES1Q23Additions to property,plant and equipment5,412Net investments and advances367Total cash capital expenditures5,779Millions of dollars unless specified otherwise.Due to roun
89、ding,numbers presented above may not add up precisely to the totals indicated.Supplemental Information24Slide 121.Includes PP&E adds of($5.4)billion and net investments/advances of($0.4)billion in first quarter 2023.Slide 141.Beaumont refinery expansion earnings potential based on average product ma
90、rgins from both 2010-2019 and 2015-2019 and ExxonMobil analysis.Baytown chemical expansion project earnings potential based on average applicable product margins from 2010-2019 and ExxonMobil analysis.Slide 171.Estimate based on April prices.2.Estimate based on operating expenses related to turnarou
91、nd and planned maintenance activities.3.Estimate based on March margins and operating expenses related to turnaround and planned maintenance activities.4.Estimate based on operating expenses related to turnaround and planned maintenance activities.Slide 181.Net production.Slide 31.Based on ExxonMobi
92、l estimates using historical benchmarking results from Solomon Associates.Slide 41.10-year range includes 2010-2019,a representative 10-year business cycle which avoids the extreme outliers in both directions that the market experienced in the past three years.2.Source:S&P Global Platts.3.Source:Int
93、ercontinental Exchange(ICE).70%/30%weighting of Henry Hub and TTF price based on the proportion of the reported ICE trade volumes.4.Source:S&P Global Platts and ExxonMobil analysis.Net margin calculated by industry capacity weighting of North America(U.S.Gulf Coast Maya Coking,WTI-Cracking),Northwes
94、t Europe(Brent Catalytic Cracking),and Singapore(Dubai Catalytic Cracking)netted for industry average Opex,energy,and renewable identification numbers(RINS).5.Source:IHS Markit,Platts,and company estimates.Overall,chemical margin based on industry capacity weighting of polyethylene,polypropylene,and
95、 paraxylene.Polyethylene margin based on industry capacity weighting by region,grouped by feedstock(North America+Middle East,Europe,Asia Pacific).Polypropylene margin based on industry capacity weighting by region,grouped by feedstock(North America,Europe,Asia Pacific+Middle East).Slide 51.Net production.Slide 81.Net production.