Exxon Mobil Corp.

Overview Key strengths Key risks Massive, highly diversified, global operations in the oil and gas exploration and production, refining, and petrochemical sectors, which provide greater earnings stability despite the volatile nature of each industry. Highly capital-intensive operations. Strong track record of completing large-scale, complex projects on time and on budget. Large annual dividend payments and consistent large share repurchases. Above-average profitability and significant positive free operating cash flow at most points in the commodity price cycle. Exposure to volatile and highly cyclical industries that face longer-term challenges from the energy transition. Currently low leverage and our expectation of low leverage at our mid-cycle price assumptions. The company remains committed to maintaining a strong balance sheet and low leverage, with a

...We expect ExxonMobil's strong balance sheet and production growth will support solid credit measures over the next two to three years. The company remains committed to maintaining a strong balance sheet and low leverage, with a focus on aggressive cost reduction to improve returns and remain resilient throughout the cycle. Since the end of 2020, ExxonMobil has lowered its gross reported debt by about $25 billion. As of Sept. 30, 2024, it had amassed a cash...

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