•Delivered industry-leading results, earnings of $7.1 billion and cash flow from operations of $11.5 billion1

•Returned industry-leading $9.2 billion to shareholders, on pace to purchase $20 billion in shares this year2

•Repurchased approximately 40% of shares issued to acquire Pioneer Natural Resources since May 2024

•Commenced start-up of Singapore Resid Upgrade, Fawley Hydrofiner and Strathcona Renewable Diesel projects

Results Summary
2Q25			1Q25			Change vs 1Q25			Dollars in millions (except per share data)			YTD 2025			YTD 2024			Change vs YTD 2024
7,082			7,713			-631			Earnings (U.S. GAAP)			14,795			17,460			-2,665
7,082			7,713			-631			Earnings Excluding Identified Items (non-GAAP)			14,795			17,460			-2,665
1.64			1.76			-0.12			Earnings Per Common Share ³			3.40			4.20			-0.80
1.64			1.76			-0.12			Earnings Excluding Identified Items Per Common Share (non-GAAP) ³			3.40			4.20			-0.80

SPRING, Texas – August 1, 2025 – Exxon Mobil Corporation today announced second-quarter 2025 earnings of $7.1 billion, or $1.64 per share assuming dilution. Cash flow from operating activities was $11.5 billion and free cash flow was $5.4 billion. Shareholder distributions totaled $9.2 billion, including $4.3 billion of dividends and $5.0 billion of share repurchases, consistent with the company's announced plans.

“The second quarter, once again, proved the value of our strategy and competitive advantages, which continue to deliver for our shareholders no matter the market conditions or geopolitical developments,” said Darren Woods, ExxonMobil chairman and chief executive officer.

“We achieved our highest second-quarter Upstream production since the merger of Exxon and Mobil more than 25 years ago. It was also our best quarter yet for high-value product sales volumes in Product Solutions. Since 2019, we've delivered $13.5 billion in structural cost savings, more than all other IOCs combined.4 And our 2030 structural cost savings plan exceeds their cumulative cost savings targets.4 We began start-up operations for the first six of ten key projects this year and remain on track to start up the remaining four. Collectively, these projects are expected to improve our earnings power by more than $3 billion in 2026 at constant prices and margins.5 These results demonstrate how our competitive advantages are delivering industry-leading value today and providing a long runway of profitable growth far into the future.”

1 Earnings and cash flow from operations, adjusted for consistency on items reported under U.S. GAAP for the IOCs with actual reported results on or before July 31, 2025, or using reported FactSet consensus as of July 31, 2025. IOCs includes each of BP, Chevron, Shell and TotalEnergies.

2 Shareholder distributions for the IOCs are actuals for companies that reported results on or before July 31, 2025, or estimated using FactSet consensus as of July 31, 2025. IOCs includes each of BP, Chevron, Shell and TotalEnergies.

3 Assuming dilution.

4 IOC structural cost savings reflect reported cost savings as of July 31, 2025. Sourced from IOC disclosures.

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

Financial Highlights

•Year-to-date earnings were $14.8 billion versus $17.5 billion in the first half of 2024. Advantaged volume growth in the Permian and Guyana, additional structural cost savings and favorable timing effects partially offset lower earnings due to weaker crude prices, a decline in industry refining margins, higher depreciation costs and lower base volumes from strategic divestments.

•The company achieved year-to-date Structural Cost Savings of $1.4 billion. Since 2019, the company has delivered $13.5 billion of cumulative Structural Cost Savings, more than all cost savings reported by other IOCs combined. The company expects to deliver $18 billion of cumulative savings through the end of 2030 versus 2019, also exceeding the total targets disclosed by other IOCs.

•Generated strong cash flow from operations of $24.5 billion and free cash flow of $14.2 billion in the first half of the year. Industry-leading year-to-date shareholder distributions of $18.4 billion included $8.6 billion of dividends and $9.8 billion of share repurchases, consistent with the company's plan to deliver $20 billion of share repurchases this year. The company has repurchased approximately 40% of shares issued to acquire Pioneer Natural Resources since May of 2024.

•The Corporation declared a third-quarter dividend of $0.99 per share, payable on September 10, 2025, to shareholders of record of Common Stock at the close of business on August 15, 2025.

•The company's industry-leading debt-to-capital and net-debt-to-capital ratio was 13% and 8%, respectively, reflecting debt repayment of $4.7 billion year-to-date. The period-end cash balance was $15.7 billion.1

•Cash capital expenditures were $6.3 billion in the second quarter, bringing year-to-date spending to $12.3 billion. This includes $12.2 billion of additions to property, plant and equipment during the first half of 2025. The company expects full-year cash capital expenditures of $27 billion to $29 billion, consistent with previous guidance.

1 Net debt is total debt of $39.0 billion less $14.4 billion of cash and cash equivalents excluding restricted cash. Net-debt to-capital ratio is net debt divided by the sum of net debt and total equity of $270.0 billion. Period-end cash balance includes cash and cash equivalents including restricted cash. ExxonMobil has lower net debt-to-capital and debt-to-capital than all IOCs. Net debt-to-capital and debt-to-capital are sourced from Bloomberg. Figures are actuals for IOCs that reported results on or before July 31, 2025, or estimated using Bloomberg consensus as of July 31, 2025.

•Upstream year-to-date earnings were $12.2 billion, a decrease of $576 million compared to the first half of 2024. Advantaged assets volume growth in the Permian and Guyana, structural cost savings, favorable foreign exchange, tax impacts and timing effects contributed to earnings. These gains were more than offset by weaker crude realizations and higher depreciation. Year-to-date net production increased 13%, or 520,000 oil-equivalent barrels per day, to 4.6 million oil-equivalent barrels per day driven by the acquisition of Pioneer, partly offset by non-core asset divestments.

•Second-quarter earnings were $5.4 billion, a decrease of $1.4 billion from the first quarter. Lower crude and natural gas realizations were partially offset by volume growth from advantaged assets, which included record Permian production of 1.6 million oil-equivalent barrels per day, along with structural cost savings. Second-quarter net production was 4.6 million oil-equivalent barrels per day, the highest second-quarter output since the Exxon and Mobil merger more than 25 years ago, and an increase of 79,000 oil-equivalent barrels per day compared to the first quarter.

•Energy Products year-to-date 2025 earnings were $2.2 billion, a decrease of $129 million versus the first half of 2024. Weaker industry refining margins were mostly offset by structural cost savings, lower scheduled maintenance, favorable timing effects and the absence of unfavorable inventory impacts.

•Second-quarter earnings were $1.4 billion, an increase of $539 million from the first quarter driven by stronger industry refining margins from higher seasonal demand and higher volumes from lower scheduled maintenance, partially offset by unfavorable foreign exchange.

•The company recently commenced start-up operations at its Fawley Hydrofiner in the United Kingdom. Once fully operational, the facility will upgrade high-sulfur, lower-value distillates to produce an additional 37,000 barrels per day of ultra-low sulfur diesel, growing the company's portfolio of higher value products.

•The company's Strathcona Renewable Diesel project, Canada's largest renewable diesel facility, has commenced operations, contributing to the growth of higher value products by adding 20,000 barrels per day of capacity.1

•Chemical Products year-to-date earnings were $566 million, a decrease of $998 million versus the first half of 2024. Results were affected by weaker margins and higher project-driven expenses related to the China Chemical Complex, partially offset by structural cost savings.

•Second-quarter earnings of $293 million were comparable to the first quarter. Higher sales volumes driven by the China Chemical Complex ramp-up offset weaker margins from lower North America feed advantage.

1 Optimizing current production based on product demand, compliance requirements and supplier capabilities for both the renewable feedstock and also the required hydrogen for processing.

•Specialty Products continued to deliver strong earnings from its portfolio of high-value products. Year-to-date earnings were $1.4 billion, a decrease of $77 million compared to the first half of the prior year. Higher expenses, including spending on ProxximaTM systems and carbon materials market development, and unfavorable foreign exchange were partially offset by stronger margins and structural cost savings.

•Earnings increased $125 million versus the first quarter. Stronger basestock margins and record high-value product sales volumes were partially offset by higher new market development costs.

•The company began start-up of the Singapore Resid Upgrade project during the quarter. Once fully operational, the facility will convert 80,000 barrels per day of lower value fuel oil to higher value products, including 20,000 barrels per day of performance lubricant basestocks for Specialty Products and 50,000 barrels per day of distillates for Energy Products.

•Corporate and Financing year-to-date net charges of $1.6 billion increased $885 million compared to the first half of 2024 mainly due to lower interest income, unfavorable foreign exchange and increased pension-related expenses.

•Second-quarter net charges of $759 million decreased $39 million versus the first quarter.

This press release references Structural Cost Savings, which describes decreases in cash opex excluding energy and production taxes as a result of operational efficiencies, workforce reductions, divestment-related reductions, and other cost-saving measures, that are expected to be sustainable compared to 2019 levels. Relative to 2019, estimated cumulative Structural Cost Savings totaled $13.5 billion, which included an additional $1.4 billion in the first six months of 2025. The total change between periods in expenses above will reflect both Structural Cost Savings and other changes in spend, including market drivers, such as inflation and foreign exchange impacts, as well as changes in activity levels and costs associated with new operations, mergers and acquisitions, new business venture development, and early-stage projects. Structural Cost Savings from new operations, mergers and acquisitions, and new business venture developments are included in the cumulative Structural Cost Savings. Estimates of cumulative annual Structural Cost Savings may be revised depending on whether cost reductions realized in prior periods are determined to be sustainable compared to 2019 levels. Structural Cost Savings are stewarded internally to support management's oversight of spending over time. This measure is useful for investors to understand the Corporation's efforts to optimize spending through disciplined expense management.

ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on August 1, 2025. To listen to the event or access an archived replay, please visit www.exxonmobil.com.

Advantaged volume growth. Represents earnings impact from change in volume/mix from advantaged assets, advantaged projects, and high-value products. See frequently used terms on page 11 for definitions of advantaged assets, advantaged projects, and high-value products.

Base volume. Represents and includes all volume/mix drivers not included in advantaged volume growth driver defined above.

Structural cost savings. Represents after-tax earnings effect of Structural Cost Savings as defined on page 8, including cash operating expenses related to divestments.

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

Timing effects. Represents timing effects that are primarily related to unsettled derivatives (mark-to-market) and other earnings impacts driven by timing differences between the settlement of derivatives and their offsetting physical commodity realizations (due to LIFO inventory accounting).

Statements related to future events; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions, future earnings power, potential addressable markets, or plans; and other statements of future events or conditions in this release, are forward-looking statements. Similarly, discussion of future carbon capture, transportation and storage, as well as lower-emission fuels, hydrogen, ammonia, lithium, direct air capture, ProxximaTM systems, carbon materials, low-carbon data centers, and other low carbon and new business plans to reduce emissions of ExxonMobil, its affiliates, and third parties, are dependent on future market factors, such as continued technological progress, stable policy support and timely rule-making and permitting, and represent forward-looking statements. Actual future results, including financial and operating performance; potential earnings, cash flow, or rate of return; total capital expenditures and mix, including allocations of capital to low carbon and other new investments; realization and maintenance of structural cost reductions and efficiency gains, including the ability to offset inflationary pressure; plans to reduce future emissions and emissions intensity; ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, to reach Scope 1 and 2 net zero in heritage Permian Basin unconventional operated assets by 2030 and in Pioneer Permian assets by 2035, to eliminate routine flaring in-line with World Bank Zero Routine Flaring, to reach near-zero methane emissions from its operated assets and other methane initiatives, and to meet ExxonMobil’s emission reduction goals and plans, divestment and start-up plans, and associated project plans as well as technology advances, including the timing and outcome of projects to capture and store CO2, produce hydrogen and ammonia, produce lower-emission fuels, produce lithium, produce ProxximaTM systems, create new advanced carbon materials, and use plastic waste as feedstock for advanced recycling; cash flow, dividends and shareholder returns, including the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs, capacities and returns; resource recoveries and production rates; and planned Pioneer and Denbury integrated benefits, could differ materially due to a number of factors. These include global or regional changes or imbalances in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market factors, economic conditions and seasonal fluctuations that impact prices, differentials, and volume/mix for our products; changes in any part of the world in laws, taxes, or regulations including environmental and tax regulations, trade sanctions, and timely granting of governmental permits and certifications; developments or changes in government policies supporting lower carbon and new market investment opportunities or policies limiting the attractiveness of future investment such as the additional European taxes on the energy sector and unequal support for different methods of emissions reduction; variable impacts of trading activities on our margins and results each quarter; changes in interest and exchange rates; actions of competitors and commercial counterparties; the outcome of commercial negotiations, including final agreed terms and conditions; the ability to access debt markets; the ultimate impacts of public health crises, including the effects of government responses on people and economies; reservoir performance, including variability and timing factors applicable to unconventional resources, the success of new unconventional technologies, and the ability of new technologies to improve the recovery relative to competitors; the level and outcome of exploration projects and decisions to invest in future reserves; timely completion of development and other construction projects and commencement of start-up operations, including reliance on third-party suppliers and service providers; final management approval of future projects and any changes in the scope, terms, or costs of such projects as approved; government regulation of our growth opportunities; war, civil unrest, attacks against the company or industry and other political or security disturbances; expropriations, seizure, or capacity, insurance, export, import or shipping limitations by foreign governments or laws; changes in market, national or regional tariffs or realignment of global trade and supply chain networks; opportunities for potential acquisitions, investments or divestments and satisfaction of applicable conditions to closing, including timely regulatory approvals; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies without impairing our competitive positioning; unforeseen technical or operating difficulties and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors discussed under Item 1A. Risk Factors of ExxonMobil’s 2024 Form 10-K.

References to resources or resource base may include quantities of oil and natural gas classified as proved reserves, as well as quantities that are not yet classified as proved reserves, but that are expected to be ultimately recoverable. The term “resource base” or similar terms are not intended to correspond to SEC definitions such as “probable” or “possible” reserves. A reconciliation of production excluding divestments, entitlements, and government mandates to actual production is contained in the Supplement to this release included as Exhibit 99.2 to the Form 8-K filed the same day as this news release.

Net-debt-to-capital ratio is net debt divided by the sum of net debt and total equity, where net debt is total debt net of cash and cash equivalents, excluding restricted cash. Total debt is the sum of notes and loans payable and long-term debt, as reported in the consolidated balance sheet.

Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships. ExxonMobil's ambitions, plans and goals do not guarantee any action or future performance by its affiliates or Exxon Mobil Corporation's responsibility for those affiliates' actions and future performance, each affiliate of which manages its own affairs.

Results Summary
2Q25			1Q25			Change vs 1Q25			Dollars in millions (except per share data)																		YTD 2025			YTD 2024			Change vs YTD 2024
7,082			7,713			-631			Earnings (U.S. GAAP)																		14,795			17,460			-2,665
7,082			7,713			-631			Earnings Excluding Identified Items (non-GAAP)																		14,795			17,460			-2,665
1.64			1.76			-0.12			Earnings Per Common Share ¹																		3.40			4.20			-0.80
1.64			1.76			-0.12			Earnings Excluding Identified Items Per Common Share (non-GAAP) ¹																		3.40			4.20			-0.80
¹ Assuming dilution.