Exxon Mobil Corporation, incorporated in New Jersey in 1882, operates globally. Its primary business is exploring for and producing crude oil and natural gas; manufacturing, trading, transporting, and selling crude oil, natural gas, petroleum products, petrochemicals, and specialty products; and pursuing lower-emission business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, and lithium. ExxonMobil competes with other firms in various national and international markets and employs lawful and appropriate methods of competition.

ExxonMobil emphasizes technology development through research programs and holds over 8,000 active patents worldwide. The company focuses on talent development through recruiting, training, and a career-oriented approach, resulting in an average service length of about 30 years. Diversity is encouraged, with over 60% of the global workforce outside the U.S. and significant representation of women and minorities in management and technical roles.

In October 2023, ExxonMobil entered into a merger agreement with Pioneer Natural Resources Company, expected to close in the second quarter of 2024, subject to regulatory approvals. This merger will significantly expand ExxonMobil's presence in the oil and gas exploration and production sector.

• Employees: 62,000 (as of December 31, 2023)
• Geographic Footprint: Operations in the United States and most other countries
• Headquarters: Spring, Texas
• Founded: 1882
• Revenue: $334.70 billion (FY2023)
• Market Capitalization: Over $429 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Exxon, Esso, Mobil, XTO

• CEO: Darren W. Woods (Age 59)
• CFO: Kathryn A. Mikells (Age 58)
• Board Chairman: Darren W. Woods
• Other Key Executives: Neil A. Chapman (Senior Vice President), Jack P. Williams Jr. (Senior Vice President), James R. Chapman (Vice President, Tax and Treasurer), Len M. Fox (Vice President and Controller), Jon M. Gibbs (President of ExxonMobil Global Projects Company), Liam M. Mallon (President, ExxonMobil Upstream Company), Karen T. McKee (President, ExxonMobil Product Solutions Company), Craig S. Morford (Vice President and General Counsel), Darrin L. Talley (Vice President, Corporate Strategic Planning)

Darren W. Woods has served as Chairman and CEO since 2017 and President since 2016. Kathryn A. Mikells joined as CFO in 2021, previously serving as CFO for Diageo plc. Other executives have extensive experience within ExxonMobil and related industries.

• Annual Revenue: $334.70 billion (FY2023)
• Net Income: $36.01 billion (FY2023)
• Market Cap: Over $429 billion (as of June 30, 2023)
• Total Assets: $376.32 billion (FY2023)
• Number of Employees: 62,000 (as of December 31, 2023)
• Key Financial Highlights: Net income decreased by $19.73 billion compared to FY2022. Cash flow from operating activities decreased by $21.4 billion compared to FY2022.

ExxonMobil operates across the entire energy value chain, encompassing:

• Upstream: Exploration and production of crude oil and natural gas.
• Energy Products: Refining, logistics, trading, and marketing of fuels and aromatics, as well as catalysts and licensing.
• Chemical Products: Manufacturing and marketing of olefins, polyolefins, and intermediates.
• Specialty Products: Production and marketing of high-quality lubricants, basestocks, waxes, synthetics, elastomers, and resins.
• Lower-Emission Business Opportunities: Pursuing carbon capture and storage, hydrogen, lower-emission fuels, and lithium.

ExxonMobil reports financial results across four key segments:

• Upstream: Responsible for exploration and production of oil and natural gas.
• Energy Products: Focuses on refining, logistics, trading, and marketing of fuels and aromatics.
• Chemical Products: Manufactures and markets olefins, polyolefins, and intermediates.
• Specialty Products: Produces and markets lubricants, basestocks, waxes, synthetics, elastomers, and resins.

Financial data for each segment is available in the 10-K filing.

ExxonMobil's strategy is to maximize shareholder value by leveraging its scale, integration, technology, and talent. The company aims to lead in earnings and cash flow growth through a portfolio of evolving opportunities. A key element of this strategy is playing a leading role in the energy transition, focusing on investment flexibility across opportunities to grow shareholder value.

ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050, supported by emission-reduction roadmaps for major assets. The company plans to reduce corporate-wide greenhouse gas and methane intensity, upstream greenhouse gas intensity, and flaring intensity by 2030 compared to 2016 levels. This will also result in an absolute reduction in corporate-wide greenhouse gas emissions. ExxonMobil is pursuing lower-emission investments to reduce emissions in its operations and those of other companies.

The company's Low Carbon Solutions business focuses on carbon capture and storage, hydrogen, lower-emission fuels, lithium, and other technologies to support a lower-emission future. The acquisition of Denbury expands ExxonMobil's capabilities in carbon capture and storage, providing access to the largest CO2 pipeline network in the U.S. The merger with Pioneer Natural Resources Company will further enhance ExxonMobil's presence in the Permian Basin and accelerate Pioneer's net-zero ambition.

ExxonMobil operates in the highly competitive energy and petrochemical industries, competing with other firms and industries to meet the energy, fuel, and chemical needs of consumers. The industry is experiencing increased investment in lower-emission energy and emission-reduction technologies.

The company acknowledges the commodity nature of its business, with operations and earnings significantly affected by changes in oil, gas, and petrochemical prices and margins. These, in turn, depend on global events and conditions affecting supply and demand. ExxonMobil's business is also subject to economic conditions, technological changes, and government regulations.

• Supply and Demand Fluctuations: ExxonMobil's operations are vulnerable to changes in oil, gas, and petrochemical prices and margins, which are influenced by global supply and demand dynamics, economic conditions, and geopolitical events.
• Economic Conditions: Demand for energy and petrochemicals is linked to economic growth, making ExxonMobil susceptible to recessions and other economic downturns.
• Government and Political Factors: Political and regulatory developments, including access limitations to resources, restrictions on doing business, and changes in environmental regulations, can adversely affect ExxonMobil's operations.
• Climate Change and Energy Transition: The global shift towards lower-emission energy sources and net-zero scenarios poses risks to ExxonMobil's long-term business model, requiring significant investments in new technologies and adaptation to changing policies and market conditions.
• Operational and Other Factors: Operational efficiency, research and development, technological change, safety, business controls, environmental risk management, cybersecurity, preparedness for natural disasters, insurance limitations, and competition all pose significant risks to ExxonMobil's business.