ExxonMobil Announces Third-Quarter 2026 Results

Decade of disciplined investment delivering industry-leading results, supplying products society needs

• Reported EPS of $3.72, or $4.23 adjusted EPS1
• Record year-to-date refining operational performance: highest global fuels utilization excluding Middle East

impacts2; highest global diesel yield3; and highest North American diesel volumes3

• Achieved cumulative Upstream production milestones: 1 billion barrels at both Guyana and Kearl, 100 million tons

at PNG LNG

• Solidified ExxonMobil's position as operator of choice in international upstream developments: assumed

operatorship at Papua LNG and reached agreement to increase working interest in LNG projects at Papua to

34% and Rovuma, Mozambique to 50%, where we are already the operator

• Reached 44 consecutive years of increases in annual dividends per share, longer streak than 95% of S&P 500

companies, and announced 2027 share repurchases of $20 billion4

SPRING, Texas – October 30, 2026 – ExxonMobil Holdings Corporation today announced third-quarter 2026

earnings of $15.4 billion, or $3.72 per share. Adjusted earnings were $17.5 billion, or $4.23 per share. Cash flow

from operating activities was $25.7 billion and free cash flow was $19.1 billion. Industry-leading shareholder

distributions totaled $9.4 billion, including $4.3 billion of dividends and $5.1 billion of share repurchases.5

"In the third quarter, we continued to rise to the challenge of meeting global energy needs, drawing on unmatched

scale, integration, and technical capabilities,” said Darren Woods, ExxonMobil chairman and chief executive officer.

“We're increasing production while improving efficiency - the result of years of consistent and disciplined investment

and execution excellence. On the U.S. Gulf Coast, investments such as our Beaumont refinery expansion have

contributed to an increase in our distillate production by approximately 40% since 2019."

"Quarter after quarter, the evidence of a stronger business builds. We're improving both the quality of our portfolio

and the ability to optimize around it. Advantaged investments, technology, and $16.9 billion in structural cost savings

since 2019 are expanding our earnings power. These are lasting improvements, not simply the result of favorable

prices and margins. Markets will change, but we're positioned to continue supplying the energy and products the

world needs while delivering growth in long-term value for our shareholders."

Additional Highlights

• Advanced CCS growth with startup at Nucor and approval for Rose carbon storage project
• Further strengthened balance sheet with nearly $11 billion of year-to-date net debt reduction6
• Declared a fourth-quarter dividend of $1.07 per share, payable on December 10, 2026, to shareholders of record

of common stock at the close of business on November 16, 2026

Year-to-date vs. prior year-to-date7

• Upstream earnings improved on higher prices, advantaged volume growth in Guyana, Permian, and Golden Pass

LNG, partly offset by Middle East volume impacts and higher non-cash expenses.

• Energy Products earnings strengthened on higher margins, record year-to-date fuels utilization, excluding Middle

East impacts2, and strong optimization activities, partly offset by external impacts on operations and scheduled

maintenance.

• Chemical Products earnings improved on record reliability and increased North American feed advantage.
• Specialty Products earnings increased with higher basestock margins and structural cost savings more than

offsetting external volume impacts and costs for advantaged growth.

Sequential quarter7

• Upstream earnings decreased driven by lower prices and accelerated Guyana entitlement impact.
• Energy Products earnings improved on higher margins, strong operational performance including 100% crude

unit utilization at our U.S. Gulf Coast refineries and the second-highest U.S. Gulf Coast diesel production on

record3, more than offsetting external impacts to our global capacity utilization.

• Chemical Products earnings decreased as margins declined, partly offset by high-value product volume growth

driven by Asia Pacific seasonal demand.

• Specialty Products earnings improved with higher basestock margins.

1 Assumes dilution.

2 Based on an as-reported asset basis, leveraging internal data available from 2014.

3 Based on current asset basis, leveraging internal data available from 2014.

4 Assuming reasonable market conditions.

5 Shareholder distributions compare IOCs' reported results or Bloomberg consensus as of October 28, 2026.

6 Net debt of $22.1 billion as of September 30, 2026, is total debt of $34.3 billion less $12.2 billion of cash and cash equivalents excluding restricted cash.

7 Comparative earnings commentary applies to both Earnings/(Loss) (U.S. GAAP) and Adjusted Earnings/(Loss) (non-GAAP) financial metrics, unless otherwise indicated. Both metrics

share operational drivers but differ by adjusting items as described in the Adjusted Earnings/(Loss) definition on page 4.

ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time

on October 30, 2026. To listen to the event or access an archived replay, please visit www.exxonmobil.com.

Cautionary Statement

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 and ammonia, lithium, direct air capture, ProxximaTM resin 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 cash 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 integrated Upstream Permian Basin unconventional operated assets by 2035, to eliminate routine flaring in-line with

World Bank Zero Routine Flaring, to reach near-zero methane emissions from 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, transport, and store CO2, produce

hydrogen and ammonia, produce lower-emission fuels, produce lithium, produce ProxximaTM resin systems, produce 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;maintenance and turnaround activity; drilling and improvement

programs; product sales levels and mix; 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, margins, availability, and volume/mix for our products; changes in any part of the world in laws, taxes, or

regulations including extraterritorial environmental and tax regulations, trade sanctions, and timely granting of governmental

permits, licenses, 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 and

derivative positions, including timing effects, on our margins and results each quarter; changes in interest and exchange rates;

actions of co-venturers or partners, competitors and commercial counterparties, including suppliers and customers; 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 and

optimization, including variability and timing factors applicable to unconventional resources, the success of new unconventional

and AI-enhanced technologies, and the ability of new technologies to improve drilling performance and recovery relative to

competitors; the level, outcome, and timing of exploration projects and decisions to invest in future reserves and resources;

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; government actions in pursuit

of national energy and security policies or priorities affecting our business; closure of producing markets or reintroduction of

regional markets; war, civil unrest, armed hostilities, attacks against the company or industry and other political or security

disturbances, including disruption of land or sea transportation routes or distribution or shipping channels; expropriations,

seizures, or capacity, insurance, export, import or shipping limitations imposed directly or indirectly by governments or laws;

changes in market, national or regional tariffs or disruption, realignment or breaking of current or historical trade or military

alliances or global trade and supply chain networks; escalating geopolitical volatility, including regime changes; 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 disruptions or 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 2025 Form 10-K.

Actions needed to advance ExxonMobil’s 2030 greenhouse gas emission-reductions plans are incorporated into its medium-

term business plans, which are updated annually. The reference case for planning beyond 2030 is based on ExxonMobil’s

Global Outlook (Outlook) research and publication. The Outlook is reflective of the existing global policy environment and an

assumption of increasing policy stringency and technology improvement to 2050. Current trends for policy stringency and

deployment of lower-emission solutions are not yet on a pathway to achieve net-zero by 2050. As such, the Outlook does not

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

ExxonMobil's business plans will be updated accordingly. References to projects or opportunities may not reflect investment

decisions made by ExxonMobil or its affiliates. Individual projects or opportunities may advance based on a number of factors,

including availability of stable and supportive policy, permitting, technological advancement for cost-effective abatement,

insights from the corporate planning process, and alignment with our partners and other stakeholders. Capital investment

guidance in lower-emission investments is based on our corporate plan; however, actual investment levels will be subject to the

availability of the opportunity set and public policy support, and focused on returns.

Frequently Used Terms and non-GAAP Measures

Adjusted Earnings/(Loss) (non-GAAP) and Adjusted Earnings/(Loss) Per Common Share (non-GAAP) • Earnings/(loss)

excluding individually significant non-operational events and estimated timing effects, both favorable and unfavorable. Identified

items typically contribute to an absolute corporate total earnings impact of at least $250 million in a given quarter. The earnings/

(loss) impact of an identified item for an individual segment may be less than $250 million when the item impacts several

periods or several segments. Adjusted Earnings/(Loss) does include non-operational earnings events or impacts that are

generally below the $250 million threshold utilized for identified items. When the effect of these events is significant in

aggregate, it is indicated in analysis of period results as part of quarterly earnings press release and teleconference materials.

Estimated timing effects excluded from Adjusted Earnings/(Loss) are primarily related to unsettled derivatives which are

required to be marked to current period-end prices (mark-to-market), where the associated physical shipments are not reflected

in earnings until the physical transaction is complete. Estimated timing effects also include estimated recognition differences

between the settlement of derivatives and their offsetting physical commodity realizations (primarily due to LIFO inventory

accounting). Impacts are expected to unwind in subsequent periods. Management uses these figures to improve comparability

of the underlying business across multiple periods by isolating and removing significant non-operational events and estimated

timing effects from business results. The Corporation believes these views provide investors increased transparency into

business results and trends and provide investors with a view of the business as seen through the eyes of management.

Adjusted Earnings/(Loss) are not meant to be viewed in isolation or as a substitute for net income/(loss) attributable to

ExxonMobil as prepared in accordance with U.S. GAAP. A reconciliation to each of corporate earnings and segment earnings

are shown for 2025 and 2026 periods on pages 10 and 11. Adjusted Earnings/(Loss) and Adjusted Earnings/(Loss) per share

amounts are shown on page 1 and on page 9, including a reconciliation to earnings/(loss) per common share – assuming

dilution (U.S. GAAP).

Cash flow from operations excluding working capital (non-GAAP) • Net cash provided by operating activities less changes

in operational working capital, excluding cash and debt. This measure is useful when evaluating cash available for investment in

the business and financing activities as operational working capital, excluding cash and debt can vary quarter-to-quarter due to

volatility and changing needs of the corporation. Cash flow from operations excluding working capital is not meant to be viewed

in isolation or as a substitute for net cash provided by operating activities. A reconciliation to net cash provided by operating

activities for the 2025 and 2026 periods is shown on page 6.

Free cash flow (non-GAAP) • Sum of net cash provided by operating activities, net cash flow used in investing activities

excluding cash acquired from mergers and acquisitions, and inflows from noncontrolling interests for major projects from

financing activities. This measure is useful when evaluating cash available for financing activities, including shareholder

distributions, after investment in the business. Free cash flow is not meant to be viewed in isolation or as a substitute for net

cash provided by operating activities. A reconciliation to net cash provided by operating activities for the 2025 and 2026 periods

is shown on page 6.

Cash capital expenditures (Cash Capex) (non-GAAP) • Sum of Additions to property, plant and equipment; additional

investments and advances; and other investing activities including collection of advances; reduced by inflows from

noncontrolling interests for major projects, each from the Consolidated Statement of Cash Flows, and for 2026+ excludes

advances and collections not related to capital expenditures or equity investments, for example, supply and marketing related

advances and associated collections. The company believes it is a useful measure for investors to understand the cash impact

of investments in the business, which is in line with industry practice. A breakdown of cash capex is shown on page 7.

Structural cost savings (structural cost reductions, structural savings, structural cost improvements, cost discipline) •

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 $16.9 billion,

which included an additional $1.8 billion in the first nine months of 2026. 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. A breakdown of structural cost savings is shown on page 8.

Resources, resource base, and recoverable resources • Along with similar terms, refer to the total remaining estimated

quantities of oil and natural gas that are expected to be ultimately recoverable. The resource base includes 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. The term “in-place” refers to those quantities of oil and natural gas

estimated to be contained in known accumulations and includes recoverable and unrecoverable amounts.

Advantaged projects • Capital projects and programs of work that contribute to Energy, Chemical, and/or Specialty Products

segments that drive integration of segments/businesses, increase yield of higher value products, or deliver higher-than-average

returns.

Performance products (performance chemicals, performance lubricants)• Refers to products that provide differentiated

performance for multiple applications through enhanced properties versus commodity alternatives and bring significant

additional value to customers and end-users.

High-value products • Includes performance products and lower-emissions fuels.

Project •The term “project” 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 not reflect investment decisions made by ExxonMobil or

its affiliates. Individual opportunities may advance based on a number of factors, including availability of stable and supportive

policy, permitting, technological advancement for cost-effective abatement, insights from the company planning process, and

alignment with our partners and other stakeholders. We may refer to these opportunities as projects in external disclosures at

various stages throughout their progression.

IOCs • Unless stated otherwise, IOCs include each of BP, Chevron, Shell, and TotalEnergies.

Shareholder distributions •The Corporation's distributions of cash to shareholders in the form of both dividends and share

purchases. Shares are acquired to reduce shares outstanding and to offset shares or units settled in shares issued in

conjunction with company benefit plans and programs. For the purposes of calculating distributions to shareholders, the

Corporation includes only the cost of those shares acquired to reduce shares outstanding.

Unless otherwise indicated, year-to-date (“YTD”) means as of the last business day of the most recent fiscal quarter.

Reference to Earnings

References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income

statement. Unless otherwise indicated, references to earnings, Upstream, Energy Products, Chemical Products, Specialty

Products and Corporate and Financing earnings, and earnings per share are ExxonMobil’s share after excluding amounts

attributable to noncontrolling interests.

ExxonMobil Holdings 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 ExxonMobil Holdings Corporation's responsibility for those

affiliates' actions and future performance, each affiliate of which manages its own affairs.

Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up

precisely to the totals indicated.