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10-K1xom10k2012.htmFORM10-K

2012

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

ForthefiscalyearendedDecember31,2012

or

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Forthetransitionperiodfrom to

CommissionFileNumber1-2256

EXXON MOBIL CORPORATION

(Exactnameofregistrantasspecifiedinitscharter)

NEW JERSEY 13-5409005

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification Number)

5959 LAS COLINAS BOULEVARD, IRVING, TEXAS 75039-2298

(Addressofprincipalexecutiveoffices)(ZipCode)

(972) 444-1000

(Registrant’stelephonenumber,includingareacode)

SecuritiesregisteredpursuanttoSection12(b)oftheAct:

TitleofEachClass

NameofEachExchange

onWhichRegistered

Common Stock, without par value (4,480,449,635 shares outstanding at January 31, 2013) NewYork Stock Exchange

Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct. Yesþ No

IndicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13orSection15(d)oftheAct. Yes Noþ

Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934

duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfiling

requirementsforthepast90days. Yes þ No

IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyandpostedonitscorporateWebsite,ifany,everyInteractiveDataFile

requiredtobesubmittedandpostedpursuanttoRule405ofRegulationS-Tduringthepreceding12months(orforsuchshorterperiodthattheregistrant

wasrequiredtosubmitandpostsuchfiles). Yesþ No

IndicatebycheckmarkifdisclosureofdelinquentfilerspursuanttoItem405ofRegulationS-Kisnotcontainedherein,andwillnotbecontained,tothe

bestofregistrant’sknowledge,indefinitiveproxyorinformationstatementsincorporatedbyreferenceinPartIIIofthisForm10-Koranyamendmentto

thisForm10-K.þ

Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfilerorasmallerreportingcompany.See

thedefinitionsof“largeacceleratedfiler,”“acceleratedfiler,”and“smallerreportingcompany”inRule12b-2oftheExchangeAct.

Largeacceleratedfilerþ Acceleratedfiler

Non-acceleratedfiler Smallerreportingcompany

Indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedbyRule12b-2oftheAct). Yes Noþ

Theaggregatemarketvalueofthevotingstockheldbynon-affiliatesoftheregistrantonJune30,2012,thelastbusinessdayoftheregistrant’smost

recentlycompletedsecondfiscalquarter,basedontheclosingpriceonthatdateof$85.57ontheNewYorkStockExchangecompositetape,wasinexcess

of$394billion.

Documents Incorporatedby Reference: Proxy Statement for the 2013 Annual Meeting of Shareholders (Part III)
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EXXON MOBIL CORPORATION

FORM10-K

FOR THEFISCAL YEAR ENDED DECEMBER 31, 2012

TABLEOF CONTENTS

PART I

Item1. Business 1

Item1A. RiskFactors 2

Item1B. UnresolvedStaffComments 4

Item2. Properties 5

Item3. LegalProceedings 26

Item4. MineSafetyDisclosures 26

ExecutiveOfficersoftheRegistrant[pursuanttoInstruction3toRegulationS-K,Item401(b)] 27

PART II

Item5. MarketforRegistrant’sCommonEquity,RelatedStockholderMattersandIssuerPurchasesofEquitySecurities 30

Item6. SelectedFinancialData 30

Item7. Management’sDiscussionandAnalysisofFinancialConditionandResultsofOperations 30

Item7A. QuantitativeandQualitativeDisclosuresAboutMarketRisk 30

Item8. FinancialStatementsandSupplementaryData 31

Item9. ChangesinandDisagreementsWithAccountantsonAccountingandFinancialDisclosure 31

Item9A. ControlsandProcedures 31

Item9B. OtherInformation 31

PART III

Item10. Directors,ExecutiveOfficersandCorporateGovernance 32

Item11. ExecutiveCompensation 32

Item12. SecurityOwnershipofCertainBeneficialOwnersandManagementandRelatedStockholderMatters 32

Item13. CertainRelationshipsandRelatedTransactions,andDirectorIndependence 33

Item14. PrincipalAccountingFeesandServices 33

PART IV

Item15. Exhibits,FinancialStatementSchedules 33

FinancialSection 34

Signatures 114

IndextoExhibits 116

Exhibit12— ComputationofRatioofEarningstoFixedCharges

Exhibits31and32— Certifications
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PART I

ITEM 1. BUSINESS

ExxonMobilCorporationwasincorporatedintheStateofNewJerseyin1882.DivisionsandaffiliatedcompaniesofExxonMobiloperateor

marketproductsintheUnitedStatesandmostothercountriesoftheworld.Theirprincipalbusinessisenergy,involvingexplorationfor,and

productionof,crudeoilandnaturalgas,manufactureofpetroleumproductsandtransportationandsaleofcrudeoil,naturalgasand

petroleum products.ExxonMobilisamajormanufacturerandmarketerofcommoditypetrochemicals,includingolefins,aromatics,

polyethyleneandpolypropyleneplasticsandawidevarietyofspecialtyproducts.ExxonMobilalsohasinterestsinelectricpowergeneration

facilities.AffiliatesofExxonMobilconductextensiveresearchprogramsinsupportofthesebusinesses.

ExxonMobilCorporationhasseveraldivisionsandhundredsofaffiliates,manywithnamesthatincludeExxonMobil,Exxon,Esso, Mobil

or XTO.Forconvenienceandsimplicity,inthisreportthetermsExxonMobil,Exxon,Esso, Mobil andXTO,aswellastermslike

Corporation,Company,our,we andits,aresometimesusedasabbreviatedreferencestospecificaffiliatesorgroupsofaffiliates.The

precisemeaningdependsonthecontextinquestion.

ThroughoutExxonMobil’sbusinesses,newandongoingmeasuresaretakentopreventandminimizetheimpactofouroperationsonair,

waterandground.Theseincludeasignificantinvestmentinrefininginfrastructureandtechnologytomanufacturecleanfuelsaswellas

projectstomonitorandreducenitrogenoxide,sulfuroxide,andgreenhousegasemissionsandexpendituresforassetretirementobligations.

UsingdefinitionsandguidelinesestablishedbytheAmericanPetroleumInstitute,ExxonMobil’s2012worldwideenvironmentalexpenditures

forallsuchpreventativeandremediationsteps,includingExxonMobil’sshareofequitycompanyexpenditures,were$5.5billion,ofwhich

$3.5billionwereincludedinexpenseswiththeremainderincapitalexpenditures.Thetotalcostforsuchactivitiesisexpectedtohavea

modestincreasein2013and2014(withcapitalexpendituresapproximately45percentofthetotal).

Theenergyandpetrochemicalindustriesarehighlycompetitive.Thereiscompetitionwithintheindustriesandalsowithotherindustries

insupplyingtheenergy,fuelandchemicalneedsofbothindustrialandindividualconsumers.TheCorporationcompeteswithotherfirmsin

thesaleorpurchaseofneededgoodsandservicesinmanynationalandinternationalmarketsandemploysallmethodsofcompetitionwhich

arelawfulandappropriateforsuchpurposes.

OperatingdataandindustrysegmentinformationfortheCorporationarecontainedintheFinancialSectionofthisreportunderthe

following:“QuarterlyInformation”,“Note18:DisclosuresaboutSegmentsandRelatedInformation”and“OperatingSummary”.Information

onoilandgasreservesiscontainedinthe“OilandGasReserves”partofthe“SupplementalInformationonOilandGasExplorationand

ProductionActivities”portionoftheFinancialSectionofthisreport.

ExxonMobilhasalong-standingcommitmenttothedevelopmentofproprietarytechnology.Wehaveawidearrayofresearchprograms

designedtomeettheneedsidentifiedineachofourbusinesssegments.InformationonCompany-sponsoredresearchanddevelopment

spendingiscontainedin“Note3:MiscellaneousFinancialInformation”oftheFinancialSectionofthisreport.ExxonMobilheld

approximately11thousandactivepatentsworldwideattheendof2012.Fortechnologylicensedtothirdparties,revenuestotaled

approximately$176millionin2012.AlthoughtechnologyisanimportantcontributortotheoveralloperationsandresultsofourCompany,

theprofitabilityofeachbusinesssegmentisnotdependentonanyindividualpatent,tradesecret,trademark,license,franchiseor

concession.

Thenumberofregularemployeeswas76.9thousand,82.1thousandand83.6thousandatyearsended2012,2011and2010,respectively.

Regularemployeesaredefinedasactiveexecutive,management,professional,technicalandwageemployeeswhoworkfulltimeorparttime

fortheCorporationandarecoveredbytheCorporation’sbenefitplansandprograms.Regularemployeesdonotincludeemployeesofthe

company-operatedretailsites(CORS).ThenumberofCORSemployeeswas11.1thousand,17.0thousandand20.1thousandatyearsended

2012,2011and2010,respectively.

InformationconcerningthesourceandavailabilityofrawmaterialsusedintheCorporation’sbusiness,theextentofseasonalityinthe

business,thepossibilityofrenegotiationofprofitsorterminationofcontractsattheelectionofgovernmentsandrisksattendanttoforeign

operationsmaybefoundin“Item1A–RiskFactors”and“Item2–Properties”inthisreport.

ExxonMobilmaintainsawebsiteatexxonmobil.com.OurannualreportonForm10-K,quarterlyreportsonForm10-Q,currentreportson

Form8-KandanyamendmentstothosereportsfiledorfurnishedpursuanttoSection13(a)oftheSecuritiesExchangeActof1934aremade

availablethroughourwebsiteassoonasreasonablypracticalafterweelectronicallyfileorfurnishthereportstotheSecuritiesandExchange

Commission.AlsoavailableontheCorporation’swebsitearetheCompany’sCorporateGovernanceGuidelinesandCodeofEthicsand

BusinessConduct,aswellasthechartersoftheaudit,compensationandnominatingcommitteesoftheBoardofDirectors.Informationon

ourwebsiteisnotincorporatedintothisreport.

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ITEM 1A. RISK FACTORS

ExxonMobil’sfinancialandoperatingresultsaresubjecttoavarietyofrisksinherentintheglobaloil,gas,andpetrochemicalbusinesses.

ManyoftheseriskfactorsarenotwithintheCompany’scontrolandcouldadverselyaffectourbusiness,ourfinancialandoperatingresults

orourfinancialcondition.Theseriskfactorsinclude:

Supply andDemand

Theoil,gas,andpetrochemicalbusinessesarefundamentallycommoditybusinesses.ThismeansExxonMobil’soperationsandearnings

maybesignificantlyaffectedbychangesinoil,gasandpetrochemicalpricesandbychangesinmarginsonrefinedproducts.Oil,gas,

petrochemicalandproductpricesandmarginsinturndependonlocal,regionalandglobaleventsorconditionsthataffectsupplyand

demandfortherelevantcommodity.

Economic conditions. Thedemandforenergyandpetrochemicalscorrelatescloselywithgeneraleconomicgrowthrates.Theoccurrenceof

recessionsorotherperiodsoflowornegativeeconomicgrowthwilltypicallyhaveadirectadverseimpactonourresults.Otherfactorsthat

affectgeneraleconomicconditionsintheworldorinamajorregion,suchaschangesinpopulationgrowthrates,periodsofcivilunrest,

governmentausterityprograms,orcurrencyexchangeratefluctuations,canalsoimpactthedemandforenergyandpetrochemicals.

Sovereigndebtdowngrades,defaults,inabilitytoaccessdebtmarketsduetocreditorlegalconstraints,liquiditycrises,thebreakupor

restructuringoffiscal,monetary,orpoliticalsystemssuchastheEuropeanUnion,andothereventsorconditionsthatimpairthefunctioning

offinancialmarketsandinstitutionsalsoposeriskstoExxonMobil,includingriskstothesafetyofourfinancialassetsandtotheabilityof

ourpartnersandcustomerstofulfilltheircommitmentstoExxonMobil.

Other demand-related factors. Otherfactorsthatmayaffectthedemandforoil,gasandpetrochemicals,andthereforeimpactourresults,

includetechnologicalimprovementsinenergyefficiency;seasonalweatherpatterns,whichaffectthedemandforenergyassociatedwith

heatingandcooling;increasedcompetitivenessofalternativeenergysourcesthathavesofargenerallynotbeencompetitivewithoiland

gaswithoutthebenefitofgovernmentsubsidiesormandates;andchangesintechnologyorconsumerpreferencesthatalterfuelchoices,

suchastowardalternativefueledvehicles.

Other supply-related factors. Commoditypricesandmarginsalsovarydependingonanumberoffactorsaffectingsupply.Forexample,

increasedsupplyfromthedevelopmentofnewoilandgassupplysourcesandtechnologiestoenhancerecoveryfromexistingsourcestend

toreducecommoditypricestotheextentsuchsupplyincreasesarenotoffsetbycommensurategrowthindemand.Similarly,increasesin

industryrefiningorpetrochemicalmanufacturingcapacitytendtoreducemarginsontheaffectedproducts.Worldoil,gas,and

petrochemicalsupplylevelscanalsobeaffectedbyfactorsthatreduceavailablesupplies,suchasadherencebymembercountriestoOPEC

productionquotasandtheoccurrenceofwars,hostileactions,naturaldisasters,disruptionsincompetitors’operations,orunexpected

unavailabilityofdistributionchannelsthatmaydisruptsupplies.Technologicalchangecanalsoaltertherelativecostsforcompetitorsto

find,produce,andrefineoilandgasandtomanufacturepetrochemicals.

Other market factors. ExxonMobil’sbusinessresultsarealsoexposedtopotentialnegativeimpactsduetochangesininterestrates,

inflation,currencyexchangerates,andotherlocalorregionalmarketconditions.Wegenerallydonotusefinancialinstrumentstohedge

marketexposures.

Government andPolitical Factors

ExxonMobil’sresultscanbeadverselyaffectedbypoliticalorregulatorydevelopmentsaffectingouroperations.

Access limitations. Anumberofcountrieslimitaccesstotheiroilandgasresources,ormayplaceresourcesoff-limitsfromdevelopment

altogether.Restrictionsonforeigninvestmentintheoilandgassectortendtoincreaseintimesofhighcommodityprices,whennational

governmentsmayhavelessneedofoutsidesourcesofprivatecapital.Manycountriesalsorestricttheimportorexportofcertainproducts

basedonpointoforigin.

Restrictions on doing business. AsaU.S.company,ExxonMobilissubjecttolawsprohibitingU.S.companiesfromdoingbusinessin

certaincountries,orrestrictingthekindofbusinessthatmaybeconducted.Suchrestrictionsmayprovideacompetitiveadvantagetoour

non-U.S.competitorsunlesstheirownhomecountriesimposecomparablerestrictions.

Lack of legal certainty. Somecountriesinwhichwedobusinesslackwell-developedlegalsystems,orhavenotyetadoptedclearregulatory

frameworksforoilandgasdevelopment.Lackoflegalcertaintyexposesouroperationstoincreasedriskofadverseorunpredictableactions

bygovernmentofficials,andalsomakesitmoredifficultforustoenforceourcontracts.Insomecasestheseriskscanbepartiallyoffsetby

agreementstoarbitratedisputesinaninternationalforum,buttheadequacyofthisremedymaystilldependonthelocallegalsystemto

enforceanaward.

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Regulatory and litigation risks. Evenincountrieswithwell-developedlegalsystemswhereExxonMobildoesbusiness,weremainexposed

tochangesinlaw(includingchangesthatresultfrominternationaltreatiesandaccords)thatcouldadverselyaffectourresults,suchas:

· increasesintaxesorgovernmentroyaltyrates(includingretroactiveclaims);

· pricecontrols;

· changesinenvironmentalregulationsorotherlawsthatincreaseourcostofcomplianceorreduceordelayavailablebusiness

opportunities(includingchangesinlawsrelatedtooffshoredrillingoperations,wateruse,orhydraulicfracturing);

· adoptionofregulationsmandatingtheuseofalternativefuelsoruncompetitivefuelcomponents;

· adoptionofgovernmentpaymenttransparencyregulationsthatcouldrequireustodisclosecompetitivelysensitivecommercial

information,orthatcouldcauseustoviolatethenon-disclosurelawsofothercountries;and

· governmentactionstocancelcontracts,re-denominatetheofficialcurrency,renounceordefaultonobligations,renegotiateterms

unilaterally,orexpropriateassets.

Legalremediesavailabletocompensateusforexpropriationorothertakingsmaybeinadequate.

Wealsomaybeadverselyaffectedbytheoutcomeoflitigationorotherlegalproceedings,especiallyincountriessuchastheUnited

Statesinwhichverylargeandunpredictablepunitivedamageawardsmayoccur.

Security concerns. Successfuloperationofparticularfacilitiesorprojectsmaybedisruptedbycivilunrest,actsofsabotageorterrorism,

andotherlocalsecurityconcerns.Suchconcernsmayrequireustoincurgreatercostsforsecurityortoshutdownoperationsforaperiodof

time.

Climate change andgreenhouse gas restrictions. Duetoconcernovertheriskofclimatechange,anumberofcountrieshaveadopted,or

areconsideringtheadoptionof,regulatoryframeworkstoreducegreenhousegasemissions.Theseincludeadoptionofcapandtrade

regimes,carbontaxes,restrictivepermitting,increasedefficiencystandards,andincentivesormandatesforrenewableenergy.These

requirementscouldmakeourproductsmoreexpensive,lengthenprojectimplementationtimes,andreducedemandforhydrocarbons,aswell

asshifthydrocarbondemandtowardrelativelylower-carbonsourcessuchasnaturalgas.Currentandpendinggreenhousegasregulations

mayalsoincreaseourcompliancecosts,suchasformonitoringorsequesteringemissions.

Government sponsorship of alternative energy. Manygovernmentsareprovidingtaxadvantagesandothersubsidiestosupportalternative

energysourcesoraremandatingtheuseofspecificfuelsortechnologies.Governmentsarealsopromotingresearchintonewtechnologies

toreducethecostandincreasethescalabilityofalternativeenergysources.Weareconductingourownresearcheffortsintoalternative

energy,suchasthroughsponsorshipoftheGlobalClimateandEnergyProjectatStanfordUniversityandresearchintofuel-producingalgae.

Ourfutureresultsmaydependinpartonthesuccessofourresearcheffortsandonourabilitytoadaptandapplythestrengthsofour

currentbusinessmodeltoprovidingtheenergyproductsofthefutureinacost-competitivemanner.See“ManagementEffectiveness”

below.

Management Effectiveness

Inadditiontoexternaleconomicandpoliticalfactors,ourfuturebusinessresultsalsodependonourabilitytomanagesuccessfullythose

factorsthatareatleastinpartwithinourcontrol.Theextenttowhichwemanagethesefactorswillimpactourperformancerelativeto

competition.Forprojectsinwhichwearenottheoperator,wedependonthemanagementeffectivenessofoneormoreco-venturerswhom

wedonotcontrol.

Exploration and development program. Ourabilitytomaintainandgrowouroilandgasproductiondependsonthesuccessofour

explorationanddevelopmentefforts.Amongotherfactors,wemustcontinuouslyimproveourabilitytoidentifythemostpromisingresource

prospectsandapplyourprojectmanagementexpertisetobringdiscoveredresourcesonlineonscheduleandwithinbudget.

Project management. ThesuccessofExxonMobil’sUpstream,Downstream,andChemicalbusinessesdependsoncomplex,long-term,

capitalintensiveprojects.Theseprojectsinturnrequireahighdegreeofprojectmanagementexpertisetomaximizeefficiency.Specific

factorsthatcanaffecttheperformanceofmajorprojectsincludeourabilityto:negotiatesuccessfullywithjointventurers,partners,

governments,suppliers,customers,orothers;modelandoptimizereservoirperformance;developmarketsforprojectoutputs,whether

throughlong-termcontractsorthedevelopmentofeffectivespotmarkets;managechangesinoperatingconditionsandcosts,including

costsofthirdpartyequipmentorservicessuchasdrillingrigsandshipping;prevent,totheextentpossible,andrespondeffectivelyto

unforeseentechnicaldifficultiesthatcoulddelayprojectstartuporcauseunscheduledprojectdowntime;andinfluencetheperformanceof

projectoperatorswhereExxonMobildoesnotperformthatrole.

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Theterm“project”asusedinthisreportdoesnotnecessarilyhavethesamemeaningasunderSECRule13q-1relatingtogovernment

paymentreporting.Forexample,asingleprojectforpurposesoftherulemayencompassnumerousproperties,agreements,investments,

developments,phases,workefforts,activities,andcomponents,eachofwhichwemayalsoinformallydescribeasa“project”.

Operational efficiency. AnimportantcomponentofExxonMobil’scompetitiveperformance,especiallygiventhecommodity-basednatureof

manyofourbusinesses,isourabilitytooperateefficiently,includingourabilitytomanageexpensesandimproveproductionyieldsonan

ongoingbasis.Thisrequirescontinuousmanagementfocus,includingtechnologyimprovements,costcontrol,productivityenhancements,

regularreappraisalofourassetportfolio,andtherecruitment,developmentandretentionofhighcaliberemployees.

Research anddevelopment. Tomaintainourcompetitiveposition,especiallyinlightofthetechnologicalnatureofourbusinessesandthe

needforcontinuousefficiencyimprovement,ExxonMobil’sresearchanddevelopmentorganizationsmustbesuccessfulandabletoadaptto

achangingmarketandpolicyenvironment.

Safety, business controls, andenvironmental risk management. Ourresultsdependonmanagement’sabilitytominimizetheinherentrisks

ofoil,gas,andpetrochemicaloperations,tocontroleffectivelyourbusinessactivitiesandtominimizethepotentialforhumanerror.We

applyrigorousmanagementsystemsandcontinuousfocustoworkplacesafetyandtoavoidingspillsorotheradverseenvironmental

events.Forexample,weworktominimizespillsthroughacombinedprogramofeffectiveoperationsintegritymanagement,ongoing

upgrades,keyequipmentreplacements,andcomprehensiveinspectionandsurveillance.Similarly,weareimplementingcost-effectivenew

technologiesandadoptingnewoperatingpracticestoreduceairemissions,notonlyinresponsetogovernmentrequirementsbutalsoto

addresscommunitypriorities.Wealsomaintainadisciplinedframeworkofinternalcontrolsandapplyacontrolsmanagementsystemfor

monitoringcompliancewiththisframework.Substantialliabilitiesandotheradverseimpactscouldresultifourmanagementsystemsand

controlsdonotfunctionasintended.Theabilitytoinsureagainstsuchrisksislimitedbythecapacityoftheapplicableinsurancemarkets,

whichmaynotbesufficient.

Businessrisksalsoincludetheriskofcybersecuritybreaches.Ifoursystemsforprotectingagainstcybersecurityrisksprovenottobe

sufficient,ExxonMobilcouldbeadverselyaffectedsuchasbyhavingitsbusinesssystemscompromised,itsproprietaryinformationaltered,

lostorstolen,oritsbusinessoperationsdisrupted.

Preparedness. Ouroperationsmaybedisruptedbysevereweatherevents,naturaldisasters,humanerror,andsimilarevents.Forexample,

hurricanesmaydamageouroffshoreproductionfacilitiesorcoastalrefiningandpetrochemicalplantsinvulnerableareas.Ourabilityto

mitigatetheadverseimpactsoftheseeventsdependsinpartupontheeffectivenessofourrigorousdisasterpreparednessandresponse

planning,aswellasbusinesscontinuityplanning.

Projections,estimatesanddescriptionsofExxonMobil’splansandobjectivesincludedorincorporatedinItems1,1A,2,7and7Aofthis

reportareforward-lookingstatements.Actualfutureresults,includingprojectcompletiondates,productionrates,capitalexpenditures,costs

andbusinessplanscoulddiffermateriallydueto,amongotherthings,thefactorsdiscussedaboveandelsewhereinthisreport.

ITEM 1B. UNRESOLVED STAFF COMMENTS

None.

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ITEM 2. PROPERTIES

Information with regardto oil andgas producing activities follows:

1. Disclosure of Reserves

A. Summary of Oil andGas Reserves at Year-End2012

Thetablebelowsummarizestheoil-equivalentprovedreservesineachgeographicareaandbyproducttypeforconsolidatedsubsidiaries

andequitycompanies.TheCorporationhasreportedprovedreservesonthebasisoftheaverageofthefirst-day-of-the-monthpriceforeach

monthduringthelast12-monthperiod.Gasisconvertedtoanoil-equivalentbasisatsixmillioncubicfeetperonethousandbarrels.Nomajor

discoveryorotherfavorableoradverseeventhasoccurredsinceDecember31,2012,thatwouldcauseasignificantchangeintheestimated

provedreservesasofthatdate.

Crude Natural Gas Synthetic Natural Oil-Equivalent

Oil Liquids Bitumen Oil Gas Basis

(million bbls) (million bbls) (million bbls) (million bbls) (billion cubic ft) (million bbls)

ProvedReserves

Developed

ConsolidatedSubsidiaries

UnitedStates 1,228 261 - - 14,471

Canada/SouthAmerica(1) 108 16 543 599 670

Europe 230 38 - - 2,526

Africa 817 187 - - 814

Asia 922 158 - - 5,150

Australia/Oceania 63 53 - - 1,012

TotalConsolidated 3,368 713 543 599 24,643

Equity Companies

UnitedStates 258 6 - - 126

Europe 28 - - - 7,057

Asia 1,009 414 - - 18,431

TotalEquityCompany 1,295 420 - - 25,614

TotalDeveloped 4,663 1,133 543 599 50,257 15,314

Undeveloped

ConsolidatedSubsidiaries

UnitedStates 677 244 - - 11,744

Canada/SouthAmerica(1) 162 1 3,017 - 255

Europe 59 18 - - 723

Africa 476 21 - - 115

Asia 682 - - - 695

Australia/Oceania 100 34 - - 6,556

TotalConsolidated 2,156 318 3,017 - 20,088

Equity Companies

UnitedStates 82 2 - - 29

Europe - - - - 2,478

Asia 251 52 - - 1,239

TotalEquityCompany 333 54 - - 3,746

TotalUndeveloped 2,489 372 3,017 - 23,834

Total ProvedReserves 7,152 1,505 3,560 599 74,091 25,164

(1) South America includes proved developed reserves of 0.4 million barrels of crude oil and natural gas liquids and 57 billion cubic

feet of natural gas and proved undeveloped reserves of 0.6 million barrels of crude oil and natural gas liquids and 65 billion cubic

feet of natural gas.

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Intheprecedingreservesinformation,consolidatedsubsidiaryandequitycompanyreservesarereportedseparately.However,the

Corporationoperatesitsbusinesswiththesameviewofequitycompanyreservesasithasforreservesfromconsolidatedsubsidiaries.

TheCorporation’soverallvolumecapacityoutlook,basedonprojectscomingonstreamasanticipated,isforproductioncapacityto

growovertheperiod2013-2017.However,actualvolumeswillvaryfromyeartoyearduetothetimingofindividualprojectstart-ups,

operationaloutages,reservoirperformance,regulatorychanges,assetsales,weatherevents,priceeffectsonproductionsharingcontracts

andotherfactorsasdescribedinItem1A—RiskFactorsofthisreport.

Theestimationofprovedreserves,whichisbasedontherequirementofreasonablecertainty,isanongoingprocessbasedonrigorous

technicalevaluations,commercialandmarketassessmentsanddetailedanalysisofwellandreservoirinformationsuchasflowratesand

reservoirpressuredeclines.Furthermore,theCorporationonlyrecordsprovedreservesforprojectswhichhavereceivedsignificantfunding

commitmentsbymanagementmadetowardthedevelopmentofthereserves.AlthoughtheCorporationisreasonablycertainthatproved

reserveswillbeproduced,thetimingandamountrecoveredcanbeaffectedbyanumberoffactorsincludingcompletionofdevelopment

projects,reservoirperformance,regulatoryapprovalsandsignificantchangesinprojectionsoflong-termoilandgaspricelevels.

B. Technologies Usedin Establishing ProvedReserves Additions in 2012

AdditionstoExxonMobil’sprovedreservesin2012werebasedonestimatesgeneratedthroughtheintegrationofavailableandappropriate

geological,engineeringandproductiondata,utilizingwell-establishedtechnologiesthathavebeendemonstratedinthefieldtoyield

repeatableandconsistentresults.

Datausedintheseintegratedassessmentsincludedinformationobtaineddirectlyfromthesubsurfaceviawellbores,suchaswelllogs,

reservoircoresamples,fluidsamples,staticanddynamicpressureinformation,productiontestdata,andsurveillanceandperformance

information.Thedatautilizedalsoincludedsubsurfaceinformationobtainedthroughindirectmeasurementsincludinghigh-quality2-Dand

3-Dseismicdata,calibratedwithavailablewellcontrolinformation.Thetoolsusedtointerpretthedataincludedproprietaryseismic

processingsoftware,proprietaryreservoirmodelingandsimulationsoftware,andcommerciallyavailabledataanalysispackages.

Insomecircumstances,whereappropriateanalogreservoirswereavailable,reservoirparametersfromtheseanalogswereusedtoincrease

thequalityofandconfidenceinthereservesestimates.

C. Qualifications of Reserves Technical Oversight GroupandInternal Controls over ProvedReserves

ExxonMobilhasadedicatedGlobalReservesgroupthatprovidestechnicaloversightandisseparatefromtheoperatingorganization.

PrimaryresponsibilitiesofthisgroupincludeoversightofthereservesestimationprocessforcompliancewithSecuritiesandExchange

Commission(SEC)rulesandregulations,reviewofannualchangesinreservesestimates,andthereportingofExxonMobil’sprovedreserves.

ThisgroupalsomaintainstheofficialcompanyreservesestimatesforExxonMobil’sprovedreservesofcrudeandnaturalgasliquids,

bitumen,syntheticoilandnaturalgas.Inaddition,thegroupprovidestrainingtopersonnelinvolvedinthereservesestimationand

reportingprocesswithinExxonMobilanditsaffiliates.Thegroupismanagedbyandstaffedwithindividualsthathaveanaverageofmore

than20yearsoftechnicalexperienceinthepetroleumindustry,includingexpertiseintheclassificationandcategorizationofreservesunder

theSECguidelines.ThisgroupincludesindividualswhoholdadvanceddegreesineitherEngineeringorGeology.Severalmembersofthe

groupholdprofessionalregistrationsintheirfieldofexpertise,andseveralhaveservedontheOilandGasReservesCommitteeofthe

SocietyofPetroleumEngineers.

TheGlobalReservesgroupmaintainsacentraldatabasecontainingtheofficialcompanyglobalreservesestimates.Appropriatecontrols,

includinglimitationsondatabaseaccessandupdatecapabilities,areinplacetoensuredataintegritywithinthiscentraldatabase.Anannual

reviewofthesystem’scontrolsisperformedbyinternalaudit.Keycomponentsofthereservesestimationprocessincludetechnical

evaluationsandanalysisofwellandfieldperformanceandarigorouspeerreview.Nochangesmaybemadetothereservesestimatesinthe

centraldatabase,includingadditionsofanynewinitialreservesestimatesorsubsequentrevisions,unlessthesechangeshavebeen

thoroughlyreviewedandevaluatedbydulyauthorizedpersonnelwithintheoperatingorganization.Inaddition,changestoreserves

estimatesthatexceedcertainthresholdsrequirefurtherreviewandapprovaloftheappropriatelevelofmanagementwithintheoperating

organizationbeforethechangesmaybemadeinthecentraldatabase.EndorsementbytheGlobalReservesgroupforallprovedreserves

changesisamandatorycomponentofthisreviewprocess.Afterallchangesaremade,reviewsareheldwithseniormanagementforfinal

endorsement.

2. ProvedUndevelopedReserves

Atyear-end2012,approximately9.9billionoil-equivalentbarrels(GOEB)ofExxonMobil’sprovedreserveswereclassifiedasproved

undeveloped.Thisrepresents39percentofthe25.2GOEBreportedinprovedreserves.Thiscomparestothe8.8GOEBofproved

undevelopedreservesreportedattheendof2011.Thenetincreaseisprimarilyduetotheadditionofnewprojectsin

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CanadaandtheUnitedStates.Duringtheyear,ExxonMobilconducteddevelopmentactivitiesinover100fieldsthatresultedinthetransfer

ofapproximately0.5GOEBfromprovedundevelopedtoproveddevelopedreservesbyyear-end.Thelargesttransferswererelatedto

completionofdrillingandtheinitiationofproductionactivitiesinunconventionalfieldsintheUnitedStatesandonnewpadlocationsinthe

ColdLakefieldinCanada.

OneofExxonMobil’srequirementsforreportingprovedreservesisthatmanagementhasmadesignificantfundingcommitmentstoward

thedevelopmentofthereserves.ExxonMobilhasadisciplinedinvestmentstrategyandmanymajorfieldsrequirelonglead-timeinorderto

bedeveloped.Developmentprojectstypicallytaketwotofouryearsfromthetimeoffirstrecordingofprovedreservestothestartof

productionofthesereserves.However,thedevelopmenttimeforlargeandcomplexprojectscanexceedfiveyears.During2012,discoveries

andextensionsrelatedtonewprojectsaddedapproximately1.3GOEBofprovedundevelopedreserves.Thelargestoftheseadditionswere

relatedtoplanneddrillingintheUnitedStates.Overall,investmentsof$24.8billionweremadebytheCorporationduring2012toprogress

thedevelopmentofreportedprovedundevelopedreserves,including$21.7billionforoilandgasproducingactivitiesandanadditional$3.1

billionforothernon-oilandgasproducingactivitiessuchastheconstructionofsupportinfrastructureandotherrelatedfacilitiesthatwere

undertakentoprogressthedevelopmentofprovedundevelopedreserves.Theseinvestmentsrepresented69percentofthe$36.1billionin

totalreportedUpstreamcapitalandexplorationexpenditures.

ProvedundevelopedreservesinCanada,Kazakhstan,theUnitedStates,andtheNetherlandshaveremainedundevelopedforfiveyears

ormoreprimarilyduetoconstraintsonthecapacityofinfrastructureandthepaceofco-venturer/governmentfunding,aswellasthetime

requiredtocompletedevelopmentforverylargeprojects.TheCorporationisreasonablycertainthattheseprovedreserveswillbeproduced;

however,thetimingandamountrecoveredcanbeaffectedbyanumberoffactorsincludingcompletionofdevelopmentprojects,reservoir

performanceandregulatoryapprovals.Oftheprovedundevelopedreservesthathavebeenreportedforfiveormoreyears,57percentare

containedinfourfieldsinCanada,KazakhstanandtheNetherlands.ThelargestoftheseisrelatedtotheKearlprojectinCanada,where

constructionoftheinitialdevelopmentwascompletedduring2012andphasedstart-upactivitieswereunderway.InKazakhstan,theproved

undevelopedreservesarerelatedtotheinitialdevelopmentoftheoffshoreKashaganfieldwhichisincludedintheNorthCaspian

ProductionSharingAgreementandtheTengizchevroiljointventurewhichincludesaproductionlicenseintheTengiz–Korolevfield

complex.TheTengizchevroiljointventureisproducing,andprovedundevelopedreserveswillcontinuetomovetoproveddevelopedas

approveddevelopmentphasesprogress.ThefourthfieldistheGroningengasfieldintheNetherlands.Provedundevelopedreserves

reportedforthisfieldarerelatedtoinstallationoffuturestagesofcompression.Thesereserveswillmovetoproveddevelopedwhenthe

additionalstagesofcompressionareinstalledtomaintainfielddeliverypressure.Theremainderofprovedundevelopedreservesare

containedinover140fieldsin16countries.

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3. Oil andGas Production, Production Prices andProduction Costs

A. Oil andGas Production

Thetablebelowsummarizesproductionbyfinalproductsoldandbygeographicareaforthelastthreeyears.

2012 2011

(thousands of barrels daily)

Crude oil andnatural gas liquids production

ConsolidatedSubsidiaries

UnitedStates 355 357

Canada/SouthAmerica(1) 59 65

Europe 203 265

Africa 487 508

Asia 362 383

Australia/Oceania 50 51

TotalConsolidatedSubsidiaries 1,516 1,629

Equity Companies

UnitedStates 63 66

Europe 4 5

Asia 410 425

TotalEquityCompanies 477 496

Total crude oil andnatural gas liquids production 1,993 2,125

Bitumen production

ConsolidatedSubsidiaries

Canada/SouthAmerica 123 120

Synthetic oil production

ConsolidatedSubsidiaries

Canada/SouthAmerica 69 67

Total liquids production 2,185 2,312

(millions of cubic feet daily)

Natural gas production available for sale

ConsolidatedSubsidiaries

UnitedStates 3,819 3,917

Canada/SouthAmerica(1) 362 412

Europe 1,446 1,701

Africa 17 7

Asia 1,445 1,879

Australia/Oceania 363 331

TotalConsolidatedSubsidiaries 7,452 8,247

Equity Companies

UnitedStates 3 -

Europe 1,774 1,747

Asia 3,093 3,168

TotalEquityCompanies 4,870 4,915

Total natural gas production available for sale 12,322 13,162 12,148

(thousands of oil-equivalent barrels daily)

Oil-equivalent production 4,239 4,506

(1) South America includes liquids production for 2012, 2011 and 2010 of one thousand barrels daily for each year and natural gas

production available for sale for 2012, 2011 and 2010 of 38 million, 45 million, and 52 million cubic feet daily, respectively.

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B. Production Prices and Production Costs

Thetablebelowsummarizesaverageproductionpricesandaverageproductioncostsbygeographicareaandbyproducttypeforthelast

threeyears.

United Canada/ Australia/

States S. America Europe Africa Asia Oceania Total

During 2012 (dollars per unit)

Consolidated Subsidiaries

Averageproductionprices

CrudeoilandNGL,perbarrel 84.51 91.45 104.14 110.11 102.19 93.39 100.29

Naturalgas,perthousandcubicfeet 2.15 1.98 8.92 2.77 3.91 4.39

Bitumen,perbarrel - 58.91 - - - -

Syntheticoil,perbarrel - 92.77 - - - -

Averageproductioncosts,peroil-equivalentbarrel-total 11.14 26.94 15.06 13.35 7.27 12.11

Averageproductioncosts,perbarrel-bitumen - 23.71 - - - -

Averageproductioncosts,perbarrel-syntheticoil - 47.45 - - - -

Equity Companies

Averageproductionprices

CrudeoilandNGL,perbarrel 103.94 - 104.59 - 101.60 - 101.94

Naturalgas,perthousandcubicfeet 3.22 - 9.66 - 9.38 -

Averageproductioncosts,peroil-equivalentbarrel-total 20.15 - 3.36 - 1.43 -

Total

Averageproductionprices

CrudeoilandNGL,perbarrel 87.43 91.45 104.15 110.11 101.88 93.39 100.68

Naturalgas,perthousandcubicfeet 2.15 1.98 9.33 2.77 7.64 4.39

Bitumen,perbarrel - 58.91 - - - -

Syntheticoil,perbarrel - 92.77 - - - -

Averageproductioncosts,peroil-equivalentbarrel-total 11.68 26.94 10.34 13.35 3.74 12.11

Averageproductioncosts,perbarrel-bitumen - 23.71 - - - -

Averageproductioncosts,perbarrel-syntheticoil - 47.45 - - - -

During 2011

Consolidated Subsidiaries

Averageproductionprices

CrudeoilandNGL,perbarrel 90.65 97.10 102.20 109.69 98.79 96.28 100.79

Naturalgas,perthousandcubicfeet 3.45 3.29 9.32 2.83 3.37 3.98

Bitumen,perbarrel - 64.65 - - - -

Syntheticoil,perbarrel - 102.80 - - - - 102.80

Averageproductioncosts,peroil-equivalentbarrel-total 11.14 23.58 13.58 14.04 6.58 12.85

Averageproductioncosts,perbarrel-bitumen - 19.80 - - - -

Averageproductioncosts,perbarrel-syntheticoil - 47.68 - - - -

Equity Companies

Averageproductionprices

CrudeoilandNGL,perbarrel 104.44 - 103.23 - 100.14 - 100.74

Naturalgas,perthousandcubicfeet 5.08 - 8.61 - 7.78 -

Averageproductioncosts,peroil-equivalentbarrel-total 19.96 - 2.92 - 1.09 -

Total

Averageproductionprices

CrudeoilandNGL,perbarrel 92.80 97.10 102.22 109.69 99.50 96.28 100.78

Naturalgas,perthousandcubicfeet 3.45 3.29 8.96 2.83 6.14 3.98

Bitumen,perbarrel - 64.65 - - - -

Syntheticoil,perbarrel - 102.80 - - - - 102.80

Averageproductioncosts,peroil-equivalentbarrel-total 11.68 23.58 9.85 14.04 3.41 12.85

Averageproductioncosts,perbarrel-bitumen - 19.80 - - - -

Averageproductioncosts,perbarrel-syntheticoil - 47.68 - - - -
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United Canada/ Australia/

States S. America Europe Africa Asia Oceania Total

During 2010 (dollars per unit)

Consolidated Subsidiaries

Averageproductionprices

CrudeoilandNGL,perbarrel 70.22 69.92 73.37 78.08 72.96 68.91

Naturalgas,perthousandcubicfeet 3.92 3.41 6.44 2.15 3.19 3.31

Bitumen,perbarrel - 56.61 - - - -

Syntheticoil,perbarrel - 78.42 - - - -

Averageproductioncosts,peroil-equivalentbarrel-total 9.92 20.07 11.62 9.63 5.65 11.20

Averageproductioncosts,perbarrel-bitumen - 17.81 - - - -

Averageproductioncosts,perbarrel-syntheticoil - 42.79 - - - -

Equity Companies

Averageproductionprices

CrudeoilandNGL,perbarrel 74.70 - 74.14 - 72.67 -

Naturalgas,perthousandcubicfeet 8.30 - 6.91 - 5.42 -

Averageproductioncosts,peroil-equivalentbarrel-total 19.11 - 2.41 - 0.98 -

Total

Averageproductionprices

CrudeoilandNGL,perbarrel 70.98 69.92 73.38 78.08 72.80 68.91

Naturalgas,perthousandcubicfeet 3.92 3.41 6.68 2.15 4.56 3.31

Bitumen,perbarrel - 56.61 - - - -

Syntheticoil,perbarrel - 78.42 - - - -

Averageproductioncosts,peroil-equivalentbarrel-total 10.67 20.07 8.46 9.63 2.91 11.20

Averageproductioncosts,perbarrel-bitumen - 17.81 - - - -

Averageproductioncosts,perbarrel-syntheticoil - 42.79 - - - -

AverageproductionpriceshavebeencalculatedbyusingsalesquantitiesfromtheCorporation’sownproductionasthedivisor.Average

productioncostshavebeencomputedbyusingnetproductionquantitiesforthedivisor.Thevolumesofcrudeoilandnaturalgasliquids

(NGL)productionusedforthiscomputationareshownintheoilandgasproductiontableinsection3.A.Thevolumesofnaturalgasusedin

thecalculationaretheproductionvolumesofnaturalgasavailableforsaleandarealsoshowninsection3.A.Thenaturalgasavailablefor

salevolumesaredifferentfromthoseshowninthereservestableinthe“OilandGasReserves”partofthe“SupplementalInformationonOil

andGasExplorationandProductionActivities”portionoftheFinancialSectionofthisreportduetovolumesconsumedorflared.Gasis

convertedtoanoil-equivalentbasisatsixmillioncubicfeetperonethousandbarrels.

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4. Drilling andOther Exploratory andDevelopment Activities

A. Number of Net Productive andDry Wells Drilled

2012 2011

Net Productive Exploratory Wells Drilled

ConsolidatedSubsidiaries

UnitedStates 7 12

Canada/SouthAmerica 2 6

Europe 1 1

Africa 2 1

Asia 1 2

Australia/Oceania 2 1

TotalConsolidatedSubsidiaries 15 23

Equity Companies

UnitedStates - 1

Europe 1 1

Asia - -

TotalEquityCompanies 1 2

Total productive exploratory wells drilled 16 25

Net Dry Exploratory Wells Drilled

ConsolidatedSubsidiaries

UnitedStates 2 2

Canada/SouthAmerica - -

Europe 2 4

Africa - -

Asia 2 5

Australia/Oceania 1 -

TotalConsolidatedSubsidiaries 7 11

Equity Companies

UnitedStates - -

Europe 1 -

Asia - -

TotalEquityCompanies 1 -

Total dry exploratory wells drilled 8 11

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2012 2011

Net Productive Development Wells Drilled

ConsolidatedSubsidiaries

UnitedStates 867 1,069

Canada/SouthAmerica 73 154

Europe 10 7

Africa 39 44

Asia 28 30

Australia/Oceania - -

TotalConsolidatedSubsidiaries 1,017 1,304

Equity Companies

UnitedStates 282 236

Europe 4 10

Asia 7 4

TotalEquityCompanies 293 250

Total productive development wells drilled 1,310 1,554

Net Dry Development Wells Drilled

ConsolidatedSubsidiaries

UnitedStates 5 14

Canada/SouthAmerica - -

Europe 1 1

Africa - -

Asia 2 1

Australia/Oceania - -

TotalConsolidatedSubsidiaries 8 16

Equity Companies

UnitedStates - -

Europe - -

Asia - -

TotalEquityCompanies - -

Total dry development wells drilled 8 16

Total number of net wells drilled 1,342 1,606

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B. Exploratory andDevelopment Activities Regarding Oil andGas Resources Extractedby Mining Technologies

Syncrude Operations. Syncrudeisajointventureestablishedtorecovershallowdepositsofoilsandsusingopen-pitminingmethodsto

extractthecrudebitumen,andthenupgradeittoproduceahigh-quality,light(32degreesAPI),sweet,syntheticcrudeoil.ImperialOil

Limitedistheownerofa25percentinterestinthejointventure.ExxonMobilCorporationhasa69.6percentinterestinImperialOilLimited.

In2012,thecompany’sshareofnetproductionofsyntheticcrudeoilwasabout69thousandbarrelsperdayandshareofnetacreagewas

about63thousandacresintheAthabascaoilsandsdeposit.

Kearl Project. TheKearlprojectisajointventureestablishedtorecovershallowdepositsofoilsandsusingopen-pitminingmethodsto

extractthecrudebitumen.ImperialOilLimitedholdsa70.96percentinterestinthejointventureandExxonMobilCanadaPropertiesholdsthe

other29.04percent.ExxonMobilCorporationhasa69.6percentinterestinImperialOilLimitedanda100percentinterestinExxonMobil

CanadaProperties.Kearliscomprisedofsixoilsandsleasescoveringabout48thousandacresintheAthabascaoilsandsdeposit.

TheKearlprojectislocatedapproximately40milesnorthofFortMcMurray,Alberta,Canada,andisexpectedtobedevelopedintwo

phases.Bitumenwillbeextractedfromoilsandsproducedfromopen-pitminingoperations,andprocessedthroughabitumenextractionand

frothtreatmentplant.Theproduct,ablendofbitumenanddiluent,isplannedtobeshippedviapipelinesfordistributiontoNorthAmerican

markets.Diluentisnaturalgascondensateorotherlighthydrocarbonsaddedtothecrudebitumentofacilitatetransportationtomarketby

pipeline.Atyear-end2012,theconstructionoftheinitialdevelopmentoftheKearlprojectwascompleteandphasedstart-upactivitieswere

underway.ConstructionontheKearlExpansionprojectcontinuedduring2012.

5. Present Activities

A. Wells Drilling

Year-End 2012 Year-End 2011

Gross Net Gross

Wells Drilling

ConsolidatedSubsidiaries

UnitedStates 1,099 503 1,276

Canada/SouthAmerica 138 118 83

Europe 26 10 26

Africa 33 10 34

Asia 108 61 102

Australia/Oceania 23 6 9

TotalConsolidatedSubsidiaries 1,427 708 1,530

Equity Companies

UnitedStates 17 4 2

Europe 9 3 13

Asia 19 2 32

TotalEquityCompanies 45 9 47

Total gross andnet wells drilling 1,472 717 1,577

B. Reviewof Principal Ongoing Activities

UNITED STATES

ExxonMobil’syear-end2012acreageholdingstotaled15.6millionnetacres,ofwhich2.2millionnetacreswereoffshore.ExxonMobilwas

activeinareasonshoreandoffshoreinthelower48statesandinAlaska.

During2012,1,142.7netexplorationanddevelopmentwellswerecompletedintheinlandlower48states.Developmentactivitiesfocused

ontheSanJoaquinBasinofCalifornia,theWoodfordShaleofOklahoma,theBakkenoilplayinNorthDakotaandMontana,thePermian

BasinofWestTexasandNewMexico,theMarcellusShaleofPennsylvaniaandWestVirginia,theHaynesvilleShaleofTexasand

Louisiana,theBarnettShaleofNorthTexas,theFayettevilleShaleofArkansas,andtheFreestoneTrendofEastTexas.

ExxonMobil’snetacreageintheGulfofMexicoatyear-end2012was2.1millionacres.Atotalof2.6netexplorationanddevelopment

wellswerecompletedduringtheyear.DevelopmentactivitiescontinuedonthedeepwaterHadrianSouthprojectandthenon-operated

Luciusproject.

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ParticipationinAlaskaproductionanddevelopmentcontinuedwithatotalof15.0netdevelopmentwellscompleted.ThePointThomson

projectwasfundedbyExxonMobilin2012.

CANADA / SOUTH AMERICA

Canada

Oil and Gas Operations: ExxonMobil'syear-end2012acreageholdingstotaled5.2millionnetacres,ofwhich1.5millionnetacreswere

offshore.A totalof44.1netexplorationanddevelopmentwellswerecompletedduringtheyear.TheHebronproject,locatedoffshore

Newfoundland,wasfundedin2012.ExxonMobilenteredintoanagreementin2012toacquireCelticExplorationLtd.

In Situ Bitumen Operations: ExxonMobil'syear-end2012insitubitumenacreageholdingstotaled0.5millionnetonshoreacres.Atotalof

31.0netdevelopmentwellswerecompletedduringtheyear.TheColdLakeNabiyeExpansionprojectwasfundedin2012.

Argentina

ExxonMobil’snetacreagetotaled1.0milliononshoreacresatyear-end2012,andtherewas0.5netdevelopmentwellcompletedduringthe

year.

Venezuela

ExxonMobil’sacreageholdingsandassetswereexpropriatedin2007.Refertotherelevantportionof“Note16:LitigationandOther

Contingencies”oftheFinancialSectionofthisreportforadditionalinformation.

EUROPE

Germany

Atotalof4.9millionnetonshoreacresand0.1millionnetoffshoreacreswereheldbyExxonMobilatyear-end2012,with6.1netexploration

anddevelopmentwellscompletedduringtheyear.

Netherlands

ExxonMobil’snetinterestinlicensestotaledapproximately1.5millionacresatyear-end2012,ofwhich1.2millionacresareonshore.Atotal

of5.7netexplorationanddevelopmentwellswerecompletedduringtheyear.

Norway

ExxonMobil'snetinterestinlicensesatyear-end2012totaledapproximately1.0millionacres,alloffshore.Atotalof6.2netexplorationand

developmentwellswerecompletedin2012.

United Kingdom

ExxonMobil’snetinterestinlicensesatyear-end2012totaledapproximately0.4millionacres,alloffshore.Atotalof0.9netdevelopment

wellswerecompletedduringtheyear.TheoffshoreFramprojectwasfundedin2012.

AFRICA

Angola

ExxonMobil’syear-end2012acreageholdingstotaled0.4millionnetoffshoreacresand5.4netexplorationanddevelopmentwellswere

completedduringtheyear.OnBlock15,KizombaSatellitesPhase1startedup,andKizombaSatellitesPhase2wasfundedin2012.Onthe

non-operatedBlock17,workcontinuedontheCravo-Lirio-Orquidea-Violetaproject.ExxonMobilsolditsinterestinthenon-operatedBlock

31in2012.

Chad

ExxonMobil’snetyear-end2012acreageholdingsconsistedof46thousandonshoreacres,with26.8netdevelopmentwellscompleted

duringtheyear.

Equatorial Guinea

ExxonMobil’sacreagetotaled0.1millionnetoffshoreacresatyear-end2012.

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Nigeria

ExxonMobil’snetacreagetotaled0.9millionoffshoreacresatyear-end2012,with7.8netexplorationanddevelopmentwellscompleted

duringtheyear.TheSatelliteFieldDevelopmentPhase1andthedeepwaterUsanprojectsstartedupin2012.

ASIA

Azerbaijan

Atyear-end2012,ExxonMobil’snetacreagetotaled9thousandoffshoreacres.Atotalof0.4netdevelopmentwellswerecompletedduring

theyear.WorkcontinuedontheChiragOilproject.

Indonesia

Atyear-end2012,ExxonMobilhad5.5millionnetacres,3.4millionnetacresoffshoreand2.1millionnetacresonshore.Atotalof2.3net

explorationwellswerecompletedduringtheyear.ProjectworkcontinuedonthefullfielddevelopmentatBanyuUrip.

Iraq

Atyear-end2012,ExxonMobil’sonshoreacreagewas0.9millionnetacres.Atotalof21.6netdevelopmentwellswerecompletedattheWest

QurnaPhaseIoilfieldduringtheyear.In2010,acontractwassignedwithSouthOilCompanyoftheIraqiMinistryofOiltoredevelopand

expandtheWestQurnaPhaseIoilfield.Thetermofthecontractis20yearswiththerighttoextendforfiveyears.In2010initialfield

rehabilitationactivitiescommenced.Fieldrehabilitationactivitiescontinuedduring2012,andacrossthelifeofthisprojectwillincludedrilling

ofnewwells,workingoverofexistingwells,optimizationanddebottleneckingofexistingfacilities,andtheestablishmentoffieldofficesand

camps.

ProductionsharingcontractswerenegotiatedwiththeregionalgovernmentofKurdistanin2011,andplanningofactivitiescontinued

during2012.

Kazakhstan

ExxonMobil’snetacreagetotaled0.1millionacresonshoreand0.2millionacresoffshoreatyear-end2012.Atotalof0.2netdevelopment

wellswerecompletedduring2012.Workingwithourpartners,constructionoftheinitialphaseoftheKashaganfieldcontinuedduring2012

Malaysia

ExxonMobilhasinterestsinproductionsharingcontractscovering0.4millionnetacresoffshoreatyear-end2012.Duringtheyear,atotalof

6.9netexplorationanddevelopmentwellswerecompleted.TheDamarprojectwasfundedin2012,andworkcontinuedontheTapisand

Telokprojects.

Qatar

ThroughourjointventureswithQatarPetroleum,ExxonMobil’snetacreagetotaled65thousandacresoffshoreatyear-end2012.Duringthe

year,atotalof1.4netdevelopmentwellswerecompleted.ExxonMobilparticipatedin61.8milliontonnesperyeargrossliquefiednaturalgas

capacityatyearend.DevelopmentactivitiescontinuedontheBarzanproject.

Republic of Yemen

ExxonMobil'snetacreageintheRepublicofYemenproductionsharingareastotaled10thousandacresonshoreatyear-end2012.

Russia

ExxonMobil’snetacreageholdingsatyear-end2012were85thousandacres,alloffshore.A totalof0.6netdevelopmentwellswere

completed.DevelopmentactivitiescontinuedontheArkutun-Dagiprojectduring2012.

ExxonMobilandRosneftsignedaStrategicCooperationAgreementin2011tojointlyparticipateinexplorationanddevelopmentactivities

inRussia,theUnitedStatesandotherpartsoftheworld.In2012ExxonMobilandRosneftsignedaPilotDevelopmentAgreementtoevaluate

thedevelopmentoftight-oilreservesinwesternSiberiaandsignedanagreementtoestablishajointArcticResearchCenter.

Thailand

ExxonMobil’snetonshoreacreageinThailandconcessionstotaled21thousandacresatyear-end2012.

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United Arab Emirates

ExxonMobil’snetacreageintheAbuDhabioffshoreUpperZakumoilconcessionwas81thousandacresatyear-end2012,with0.6net

developmentwellscompletedduringtheyear.

ExxonMobil’snetacreageintheAbuDhabionshoreoilconcessionwas0.5millionacresatyear-end2012,ofwhich0.4millionacresare

onshore.Duringtheyear,atotalof5.6netdevelopmentwellswerecompleted.

AUSTRALIA / OCEANIA

Australia

ExxonMobil’syear-end2012acreageholdingstotaled1.8millionnetacres,ofwhich1.6millionnetacreswereoffshore.Duringtheyear,a

totalof1.1netexplorationwellswerecompleted.

Projectconstructionactivityfortheco-ventureroperatedGorgonliquefiednaturalgas(LNG)projectprogressedin2012.Theproject

consistsofasubseainfrastructureforoffshoreproductionandtransportationofthegas,anda15.6milliontonnesperyearLNGfacilityand

a280millioncubicfeetperdaydomesticgasplantlocatedonBarrowIsland,WesternAustralia.

Papua New Guinea

Atotalof0.9millionnetonshoreacreswereheldbyExxonMobilatyear-end2012,with1.3netexplorationanddevelopmentwellscompleted

duringtheyear.WorkcontinuedonthePapuaNewGuinea(PNG)LNGproject.Theprojectconsistsofconditioningfacilitiesinthesouthern

PNGHighlands,a6.9milliontonnesperyearLNGfacilitynearPortMoresbyandapproximately434milesofonshoreandoffshorepipelines.

WORLDWIDE EXPLORATION

Atyear-end2012,explorationactivitieswereunderwayinseveralareasinwhichExxonMobilhasnoestablishedproductionoperationsand

thusarenotincludedabove.Atotalof35.3millionnetacreswereheldatyear-end2012,and2.1netexplorationwellswerecompletedduring

theyearinthesecountries.

6. Delivery Commitments

ExxonMobilsellscrudeoilandnaturalgasfromitsproducingoperationsunderavarietyofcontractualobligations,someofwhichmay

specifythedeliveryofafixedanddeterminablequantityforperiodslongerthanoneyear.ExxonMobilalsoentersintonaturalgassales

contractswherethesourceofthenaturalgasusedtofulfillthecontractcanbeacombinationofourownproductionandthespotmarket.

Worldwide,wearecontractuallycommittedtodeliverapproximately3,000billioncubicfeetofnaturalgasfortheperiodfrom2013through

2015.Weexpecttofulfillthemajorityofthesedeliverycommitmentswithproductionfromourproveddevelopedreserves.Anyremaining

commitmentswillbefulfilledwithproductionfromourprovedundevelopedreservesandspotmarketpurchasesasnecessary.

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7. Oil andGas Properties, Wells, Operations andAcreage

A. Gross andNet Productive Wells

Year-End 2012 Year-End 2011

Oil Gas Oil Gas

Gross Net Gross Net Gross Net Gross Net

Gross andNet Productive Wells

ConsolidatedSubsidiaries

UnitedStates 22,690 8,155 39,720 24,197 23,891 8,219 41,453 24,858

Canada/SouthAmerica 5,283 4,825 3,485 1,319 5,347 4,870 3,299

Europe 1,255 346 622 258 1,340 357 647

Africa 1,231 491 11 4 1,167 465 12

Asia 792 370 204 150 783 399 224

Australia/Oceania 676 152 40 20 712 171 32

TotalConsolidatedSubsidiaries 31,927 14,339 44,082 25,948 33,240 14,481 45,667 26,581

Equity Companies

UnitedStates 12,777 5,286 2,138 120 11,068 5,200 1

Europe 71 27 585 185 61 23 593

Asia 1,200 129 121 29 894 100 121

TotalEquityCompanies 14,048 5,442 2,844 334 12,023 5,323 715

Total gross andnet productive wells 45,975 19,781 46,926 26,282 45,263 19,804 46,382 26,802

Therewere37,228grossand31,264netoperatedwellsatyear-end2012and37,692grossand31,683netoperatedwellsatyear-end2011.The

numberofwellswithmultiplecompletionswas1,647grossin2012and1,775grossin2011.

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B. Gross andNet DevelopedAcreage

Year-End 2012 Year-End 2011

Gross Net Gross Net

(thousands of acres)

Gross andNet DevelopedAcreage

ConsolidatedSubsidiaries

UnitedStates 16,444 10,164 17,255 10,256

Canada/SouthAmerica(1) 4,545 1,940 4,570

Europe 3,382 1,515 3,563

Africa 2,105 780 1,850

Asia 1,322 525 1,326

Australia/Oceania 2,018 719 1,955

TotalConsolidatedSubsidiaries 29,816 15,643 30,519 15,735

Equity Companies

UnitedStates 496 202 131

Europe 4,344 1,357 4,343

Asia 5,731 640 5,732

TotalEquityCompanies 10,571 2,199 10,206

Total gross andnet developedacreage 40,387 17,842 40,725 17,787

(1) Includes developed acreage in South America of 618 gross and 202 net thousands of acres for 2012 and 2011.

Separateacreagedataforoilandgasarenotmaintainedbecause,inmanyinstances,bothareproducedfromthesameacreage.

C. Gross andNet UndevelopedAcreage

Year-End 2012 Year-End 2011

Gross Net Gross Net

(thousands of acres)

Gross andNet UndevelopedAcreage

ConsolidatedSubsidiaries

UnitedStates 8,517 5,077 8,718

Canada/SouthAmerica(1) 16,669 8,700 19,183

Europe 35,928 16,123 36,153 16,107

Africa 12,005 7,707 13,242

Asia 24,346 20,239 23,883 19,914

Australia/Oceania 7,460 1,991 5,892

TotalConsolidatedSubsidiaries 104,925 59,837 107,071 60,703

Equity Companies

UnitedStates 351 108 302

Europe - - -

Asia 73 5 72

TotalEquityCompanies 424 113 374

Total gross andnet undevelopedacreage 105,349 59,950 107,445 60,805

(1) Includes undeveloped acreage in South America of 8,412 gross and 4,484 net thousands of acres for 2012 and 10,922 gross and

5,680 net thousands of acres for 2011.

ExxonMobil’sinvestmentindevelopedandundevelopedacreageiscomprisedofnumerousconcessions,blocksandleases.Thetermsand

conditionsunderwhichtheCorporationmaintainsexplorationand/orproductionrightstotheacreageareproperty-specific,contractually

definedandvarysignificantlyfrompropertytoproperty.Workprogramsaredesignedtoensurethattheexplorationpotentialofany

propertyisfullyevaluatedbeforeexpiration.Insomeinstances,theCorporationmayelecttorelinquishacreageinadvanceofthecontractual

expirationdateiftheevaluationprocessiscompleteandthereisnotabusinessbasisforextension.Incaseswhereadditionaltimemaybe

requiredtofullyevaluateacreage,theCorporationhasgenerallybeensuccessfulinobtainingextensions.Thescheduledexpirationofleases

andconcessionsforundevelopedacreageoverthenextthreeyearsisnotexpectedtohaveamaterialadverseimpactontheCorporation.

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D. Summary of Acreage Terms

UNITED STATES

Oilandgasleaseshaveanexplorationperiodrangingfromonetotenyears,andaproductionperiodthatnormallyremainsineffectuntil

productionceases.Undercertaincircumstances,aleasemaybeheldbeyonditsexplorationtermevenifproductionhasnotcommenced.In

someinstances,a“feeinterest”isacquiredwhereboththesurfaceandtheunderlyingmineralinterestsareownedoutright.

CANADA / SOUTH AMERICA

Canada

Explorationlicensesorleasesinonshoreareasareacquiredforvaryingperiodsoftimewithrenewalsorextensionspossible.Theselicenses

orleasesentitletheholdertocontinueexistinglicensesorleasesuponcompletingspecifiedwork.Ingeneral,theselicenseandlease

agreementsareheldaslongasthereisproductiononthelicensesandleases.ExplorationlicensesinoffshoreeasternCanadaandthe

BeaufortSeaareheldbyworkcommitmentsofvariousamountsandrentals.Theyarevalidforamaximumtermofnineyears.Production

licensesintheoffshorearevalidfor25years,withrightsofextensionforcontinuedproduction.Significantdiscoverylicensesinthe

offshore,relatingtocurrentlyundevelopeddiscoveries,donothaveadefiniteterm.

Argentina

ThefederalonshoreconcessiontermsinArgentinaareuptofouryearsfortheinitialexplorationperiod,uptothreeyearsforthesecond

explorationperiodanduptotwoyearsforthethirdexplorationperiod.A50-percentrelinquishmentisrequiredaftereachexplorationperiod.

Anextensionafterthethirdexplorationperiodispossibleforuptofiveyears.Thetotalproductiontermis25yearswithaten-yearextension

possible,onceafieldhasbeendeveloped.Argentineprovincesareentitledtomodifytheconcessiontermsgrantedwithintheirterritories.

TheconcessiontermsoftheexplorationpermitsgrantedbyNeuquenProvinceareuptosixyearsfortheinitialexplorationperiod,uptofour

yearsforthesecondexplorationperiodanduptothreeyearsforthethirdexplorationperioddependingontheclassificationofthearea.An

extensionafterthethirdexplorationperiodispossibleforuptooneyear.

EUROPE

Germany

Explorationconcessionsaregrantedforaninitialmaximumperiodoffiveyears,withanunlimitednumberofextensionsofuptothreeyears

each.Extensionsaresubjecttospecific,minimumworkcommitments.Productionlicensesarenormallygrantedfor20to25yearswith

multiplepossibleextensionsaslongasthereisproductiononthelicense.

Netherlands

UndertheMiningLaw,effectiveJanuary1,2003,explorationandproductionlicensesforbothonshoreandoffshoreareasareissuedfora

periodasexplicitlydefinedinthelicense.Thetermisbasedontheperiodoftimenecessarytoperformtheactivitiesforwhichthelicenseis

issued.LicenseconditionsarestipulatedinthelicenseandarebasedontheMiningLaw.

ProductionrightsgrantedpriortoJanuary1,2003,remainsubjecttotheirexistingterms,anddifferslightlyforonshoreandoffshore

areas.Onshoreproductionlicensesissuedpriorto1988wereindefinite;from1988theywereissuedforaperiodasexplicitlydefinedinthe

license,rangingfrom35to45years.Offshoreproductionlicensesissuedbefore1976wereissuedforafixedperiodof40years;from1976

theywereagainissuedforaperiodasexplicitlydefinedinthelicense,rangingfrom15to40years.

Norway

Licensesissuedpriorto1972wereforaninitialperiodofsixyearsandanextensionperiodof40years,withrelinquishmentofatleastonefourthoftheoriginalarearequiredattheendofthesixthyearandanotherone-fourthattheendoftheninthyear.Licensesissuedbetween

1972and1997wereforaninitialperiodofuptosixyears(withextensionoftheinitialperiodofoneyearatatimeuptotenyearsafter1985),

andanextensionperiodofupto30years,withrelinquishmentofatleastone-halfoftheoriginalarearequiredattheendoftheinitialperiod.

LicensesissuedafterJuly1,1997,haveaninitialperiodofuptotenyearsandanormalextensionperiodofupto30yearsorinspecialcases

ofupto50years,andwithrelinquishmentofatleastone-halfoftheoriginalarearequiredattheendoftheinitialperiod.

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United Kingdom

Acreagetermsarefixedbythegovernmentandareperiodicallychanged.Forexample,manyoftheearlylicensesissuedunderthefirstfour

licensingroundsprovidedforaninitialtermofsixyearswithrelinquishmentofatleastone-halfoftheoriginalareaattheendoftheinitial

term,subjecttoextensionforafurther40years.Attheendofanysuch40-yearterm,licensesmaycontinueinproducingareasuntil

cessationofproduction;orlicensesmaycontinueindevelopmentareasforperiodsagreedonacase-by-casebasisuntiltheybecome

producingareas;orlicensesterminateinallotherareas.Thelicensingregimewaslastupdatedin2002,andthemajorityoflicensesissued

haveaninitialtermoffouryearswithasecondtermextensionoffouryearsandafinaltermof18yearswithamandatoryrelinquishmentof

50percentoftheacreageaftertheinitialtermandofallacreagethatisnotcoveredbyadevelopmentplanattheendofthesecondterm.

AFRICA

Angola

Explorationandproductionactivitiesaregovernedbyproductionsharingagreementswithaninitialexplorationtermoffouryearsandan

optionalsecondphaseoftwotothreeyears.Theproductionperiodisfor25years,andagreementsgenerallyprovideforanegotiated

extension.

Chad

Explorationpermitsareissuedforaperiodoffiveyears,andarerenewableforoneortwofurtherfive-yearperiods.Thetermsandconditions

ofthepermits,includingrelinquishmentobligations,arespecifiedinanegotiatedconvention.Theproductiontermisfor30yearsandmaybe

extendedatthediscretionofthegovernment.

Equatorial Guinea

ExplorationandproductionactivitiesaregovernedbyproductionsharingcontractsnegotiatedwiththeStateMinistryofMines,Industry

andEnergy.Theexplorationperiodsarefortento15yearswithlimitedrelinquishmentsintheabsenceofcommercialdiscoveries.The

productionperiodforcrudeoilis30years,whiletheproductionperiodforgasis50years.UndertheHydrocarbonsLawenactedin2006,the

explorationtermsfornewproductionsharingcontractsarefourtofiveyearswithamaximumoftwoone-yearextensions,unlesstheMinistry

agreesotherwise.

Nigeria

Explorationandproductionactivitiesinthedeepwateroffshoreareasaretypicallygovernedbyproductionsharingcontracts(PSCs)withthe

nationaloilcompany,theNigerianNationalPetroleumCorporation(NNPC).NNPCholdstheunderlyingOilProspectingLicense(OPL)and

anyresultingOilMiningLease(OML).ThetermsofthePSCsaregenerally30years,includingaten-yearexplorationperiod(aninitial

explorationphaseplusoneortwooptionalperiods)coveredbyanOPL.Uponcommercialdiscovery,anOPLmaybeconvertedtoanOML.

PartialrelinquishmentisrequiredunderthePSCattheendoftheten-yearexplorationperiod,andOMLshavea20-yearproductionperiod

thatmaybeextended.

SomeexplorationactivitiesarecarriedoutindeepwaterbyjointventureswithlocalcompaniesholdinginterestsinanOPL.OPLsin

deepwateroffshoreareasarevalidfortenyearsandarenon-renewable,whileinallotherareasthelicensesareforfiveyearsandalsoare

non-renewable.DemonstratingacommercialdiscoveryisthebasisforconversionofanOPLtoanOML.

OMLsgrantedpriortothe1969PetroleumAct(i.e.,undertheMineralOilsAct1914,repealedbythe1969PetroleumAct)werefor30

yearsonshoreand40yearsinoffshoreareasandhavebeenrenewed,effectiveDecember1,2008,forafurtherperiodof20years,witha

furtherrenewaloptionof20years.Operationsunderthesepre-1969OMLsareconductedunderajointventureagreementwithNNPCrather

thanaPSC.In2000,aMemorandumofUnderstanding(MOU)wasexecuteddefiningcommercialtermsapplicabletoexistingjointventureoil

production.TheMOUmaybeterminatedononecalendaryear’snotice.

OMLsgrantedunderthe1969PetroleumAct,whichincludealldeepwaterOMLs,haveamaximumtermof20yearswithoutdistinctionfor

onshoreoroffshorelocationandarerenewable,upon12months’writtennotice,foranotherperiodof20years.OMLsnotheldbyNNPCare

alsosubjecttoamandatory50-percentrelinquishmentafterthefirsttenyearsoftheirduration.

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ASIA

Azerbaijan

Theproductionsharingagreement(PSA)forthedevelopmentoftheAzeri-Chirag-Gunashlifieldisestablishedforaninitialperiodof30

yearsstartingfromthePSAexecutiondatein1994.

OtherexplorationandproductionactivitiesaregovernedbyPSAsnegotiatedwiththenationaloilcompanyofAzerbaijan.The

explorationperiodconsistsofthreeorfouryearswiththepossibilityofaonetothree-yearextension.Theproductionperiod,whichincludes

development,isfor25yearsor35yearswiththepossibilityofoneortwofive-yearextensions.

Indonesia

ExplorationandproductionactivitiesinIndonesiaaregenerallygovernedbycooperationcontracts,usuallyintheformofaproduction

sharingcontract(PSC),negotiatedwithBPMIGAS,agovernmentagencyestablishedin2002tomanageupstreamoilandgasactivities.In

2012,Indonesia’sConstitutionalCourtruledcertainarticlesoflawrelatingtoBPMIGAStobeunconstitutional,butstatedthatallexisting

PSCssignedwithBPMIGASshouldremaininforceuntiltheirexpiry,andthefunctionsanddutiespreviouslyperformedbyBPMIGASareto

becarriedoutbytherelevantMinistryoftheGovernmentofIndonesiauntilthepromulgationofanewoilandgaslaw.ThecurrentPSCs

haveanexplorationperiodofsixyears,whichcanbeextendedupto10years,andanexploitationperiodof20years.PSCsgenerallyrequire

thecontractortorelinquish10percentto20percentofthecontractareaafterthreeyearsandgenerallyallowthecontractortoretainnomore

than50percentto80percentoftheoriginalcontractareaaftersixyears,dependingontheacreageandterms.

Iraq

Developmentandproductionactivitiesinthestate-ownedoilandgasfieldsaregovernedbycontractswithregionaloilcompaniesofthe

IraqiMinistryofOil.AnExxonMobilaffiliateenteredintoacontractwithSouthOilCompanyoftheIraqiMinistryofOilfortherightsto

participateinthedevelopmentandproductionactivitiesoftheWestQurnaPhaseIoilandgasfieldeffectiveMarch1,2010.Thetermofthe

contractis20yearswiththerighttoextendforfiveyears.Thecontractprovidesforcostrecoveryplusper-barrelfeesforincremental

productionabovespecifiedlevels.

ExplorationandproductionactivitiesintheKurdistanregionofIraqaregovernedbyproductionsharingcontractsnegotiatedwiththe

regionalgovernmentofKurdistanin2011.Theexplorationtermisforfiveyearswiththepossibilityoftwo-yearextensions.Theproduction

periodis20yearswiththerighttoextendforfiveyears.

Kazakhstan

Onshoreexplorationandproductionactivitiesaregovernedbytheproductionlicense,explorationlicenseandjointventureagreements

negotiatedwiththeRepublicofKazakhstan.Existingproductionoperationshavea40-yearproductionperiodthatcommencedin1993.

OffshoreexplorationandproductionactivitiesaregovernedbyaproductionsharingagreementnegotiatedwiththeRepublicof

Kazakhstan.Theexplorationperiodissixyearsfollowedbyseparateappraisalperiodsforeachdiscovery.Theproductionperiodforeach

discovery,whichincludesdevelopment,isfor20yearsfromthedateofdeclarationofcommercialitywiththepossibilityoftwoten-year

extensions.

Malaysia

Explorationandproductionactivitiesaregovernedbyproductionsharingcontracts(PSCs)negotiatedwiththenationaloilcompany.The

morerecentPSCsgoverningexplorationandproductionactivitieshaveanoveralltermof24to38years,dependingonwaterdepth,with

possibleextensionstotheexplorationand/ordevelopmentperiods.Theexplorationperiodisfivetosevenyearswiththepossibilityof

extensions,afterwhichtimeareaswithnocommercialdiscoverieswillbedeemedrelinquished.Thedevelopmentperiodisfromfourtosix

yearsfromcommercialdiscovery,withthepossibilityofextensionsunderspecialcircumstances.Areasfromwhichcommercialproduction

hasnotstartedbytheendofthedevelopmentperiodwillbedeemedrelinquishedifnoextensionisgranted.Allextensionsaresubjecttothe

nationaloilcompany’spriorwrittenapproval.Thetotalproductionperiodis15to25yearsfromfirstcommerciallifting,nottoexceedthe

overalltermofthecontract.

In2008,theCompanyreachedagreementwiththenationaloilcompanyforanewPSC,whichwassubsequentlysignedin2009.Underthe

newPSC,from2008untilMarch31,2012,theCompanywasentitledtoundertakenewdevelopmentandproductionactivitiesinoilfields

underanexistingPSC,subjecttonewminimumworkandspendingcommitments,includinganenhancedoilrecoveryprojectinoneoftheoil

fields.WhentheexistingPSCexpiredonMarch31,2012,theproducingfieldscoveredbytheexistingPSCautomaticallybecamepartofthe

newPSC,whichhasa25-yeardurationfromApril2008.

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Qatar

TheStateofQatargrantsgasproductiondevelopmentprojectrightstodevelopandsupplygasfromtheoffshoreNorthFieldtopermitthe

economicdevelopmentandproductionofgasreservessufficienttosatisfythegasandLNGsalesobligationsoftheseprojects.

Republic of Yemen

TheJannahproductionsharingagreementhasadevelopmentperiodextending20yearsfromfirstcommercialdeclaration,whichwasmadein

June1995.

Russia

TermsforExxonMobil’sacreagearefixedbytheproductionsharingagreement(PSA)thatbecameeffectivein1996betweentheRussian

governmentandtheSakhalin-1consortium,ofwhichExxonMobilistheoperator.ThetermofthePSAis20yearsfromtheDeclarationof

Commerciality,whichwouldbe2021.Thetermmaybeextendedthereafterinten-yearincrementsasspecifiedinthePSA.

Thailand

ThePetroleumActof1971allowsproductionunderExxonMobil’sconcessionfor30yearswithaten-yearextensionattermsgenerally

prevalentatthetime.

United Arab Emirates

ExplorationandproductionactivitiesforthemajoronshoreoilfieldsintheEmirateofAbuDhabiaregovernedbya75-yearoilconcession

agreementexecutedin1939andsubsequentlyamendedthroughvariousagreementswiththegovernmentofAbuDhabi.Aninterestinthe

UpperZakumfield,amajoroffshorefield,wasacquiredeffectiveasofJanuary2006,foratermexpiringMarch2026.

AUSTRALIA/OCEANIA

Australia

ExplorationandproductionactivitiesconductedoffshoreinCommonwealthwatersaregovernedbyFederallegislation.Explorationpermits

aregrantedforaninitialtermofsixyearswithtwopossiblefive-yearrenewalperiods.Retentionleasesmaybegrantedforresourcesthatare

notcommerciallyviableatthetimeofapplication,butareexpectedtobecomecommerciallyviablewithin15years.Thesearegrantedfor

periodsoffiveyearsandrenewalsmayberequested.PriortoJuly1998,productionlicensesweregrantedinitiallyfor21years,withafurther

renewalof21yearsandthereafter“indefinitely”,i.e.,forthelifeofthefield.EffectivefromJuly1998,newproductionlicensesaregranted

“indefinitely”.Ineachcase,aproductionlicensemaybeterminatedifnoproductionoperationshavebeencarriedonforfiveyears.

Papua New Guinea

ExplorationandproductionactivitiesaregovernedbytheOilandGasAct.PetroleumProspectinglicensesaregrantedforaninitialtermof

sixyearswithafive-yearextensionpossible(anadditionalextensionofthreeyearsispossibleincertaincircumstances).Generally,a50-

percentrelinquishmentofthelicenseareaisrequiredattheendoftheinitialsix-yearterm,ifextended.PetroleumDevelopmentlicensesare

grantedforaninitial25-yearperiod.Anextensionofupto20yearsmaybegrantedattheMinister’sdiscretion.PetroleumRetentionlicenses

maybegrantedforgasresourcesthatarenotcommerciallyviableatthetimeofapplication,butmaybecomecommerciallyviablewithinthe

maximumpossibleretentiontimeof15years.PetroleumRetentionlicensesaregrantedforfive-yearterms,andmaybeextended,atthe

Minister’sdiscretion,twiceforthemaximumretentiontimeof15years.ExtensionsofPetroleumRetentionlicensesmaybeforperiodsofless

thanoneyear,renewableannually,iftheMinisterconsidersatthetimeofextensionthattheresourcescouldbecomecommerciallyviablein

lessthanfiveyears.

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Information with regardto the Downstream segment follows:

ExxonMobil’sDownstreamsegmentmanufacturesandsellspetroleumproducts.Therefiningandsupplyoperationsencompassaglobal

networkofmanufacturingplants,transportationsystems,anddistributioncentersthatprovidearangeoffuels,lubricantsandother

productsandfeedstockstoourcustomersaroundtheworld.

Refining Capacity At Year-End2012 (1)

ExxonMobil ExxonMobil

Share KBD (2) Interest %

UnitedStates

Torrance California 150 100

Joliet Illinois 238 100

BatonRouge Louisiana 502 100

Baytown Texas 561 100

Beaumont Texas 345 100

Other(2refineries) 155

TotalUnitedStates 1,951

Canada

Strathcona Alberta 189 69.6

Dartmouth NovaScotia 85 69.6

Nanticoke Ontario 113 69.6

Sarnia Ontario 119 69.6

TotalCanada 506

Europe

Antwerp Belgium 307 100

Fos-sur-Mer France 131 82.9

Gravenchon France 235 82.9

Karlsruhe Germany 78 25

Augusta Italy 198 100

Trecate Italy 126 75.5

Rotterdam Netherlands 191 100

Slagen Norway 116 100

Fawley UnitedKingdom 258 100

TotalEurope 1,640

Asia Pacific

Jurong/PAC Singapore 592 100

Sriracha Thailand 170 66

Other(7refineries) 299

TotalAsiaPacific 1,061

Other Non-U.S.

Yanbu SaudiArabia 200 50

Laffan Qatar 15 10

Martinique Martinique 2 14.5

TotalOtherNon-U.S. 217

Total Worldwide 5,375

(1) Capacity data is based on 100 percent of rated refinery process unit stream-day capacities under normal operating conditions, less

the impact ofshutdowns for regular repair and maintenance activities, averaged over an extended period of time.

(2) Thousands of barrels per day (KBD). ExxonMobil share reflects 100 percent of atmospheric distillation capacity in operations of

ExxonMobil and majority-owned subsidiaries. For companies owned 50 percent or less, ExxonMobil share is the greater of

ExxonMobil’s equity interest or that portion of distillation capacity normally available to ExxonMobil.

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ThemarketingoperationssellproductsandservicesthroughouttheworldthroughourExxon,Esso andMobil brands.

Retail Sites At Year-End2012

UnitedStates

Owned/leased 115

Distributors/resellers 8,921

TotalUnitedStates 9,036

Canada

Owned/leased 474

Distributors/resellers 1,308

TotalCanada 1,782

Europe

Owned/leased 3,713

Distributors/resellers 2,361

TotalEurope 6,074

Asia Pacific

Owned/leased 689

Distributors/resellers 256

TotalAsiaPacific 945

Latin America

Owned/leased 156

Distributors/resellers 757

TotalLatinAmerica 913

Middle East/Africa

Owned/leased 446

Distributors/resellers 186

TotalMiddleEast/Africa 632

Worldwide

Owned/leased 5,593

Distributors/resellers 13,789

TotalWorldwide 19,382

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Information with regardto the Chemical segment follows:

ExxonMobil’sChemicalsegmentmanufacturesandsellspetrochemicals.TheChemicalbusinesssuppliesolefins,polyolefins,aromatics,and

awidevarietyofotherpetrochemicals.

Chemical Complex Capacity At Year-End2012 (1)(2)

ExxonMobil

Ethylene Polyethylene Polypropylene Paraxylene Interest %

North America

BatonRouge Louisiana 1.0 1.3 0.4 - 100

Baytown Texas 2.2 - 0.8 0.6 100

Beaumont Texas 0.9 1.0 - 0.3 100

MontBelvieu Texas - 1.0 - - 100

Sarnia Ontario 0.3 0.5 - - 69.6

TotalNorthAmerica 4.4 3.8 1.2 0.9

Europe

Antwerp Belgium - 0.4 - - 100

Fife UnitedKingdom 0.4 - - - 50

Meerhout Belgium - 0.5 - - 100

Gravenchon France 0.4 0.4 0.3 - 100

Rotterdam Netherlands - - - 0.7 100

TotalEurope 0.8 1.3 0.3 0.7

Middle East

AlJubail SaudiArabia 0.6 0.6 - - 50

Yanbu SaudiArabia 1.0 0.7 0.2 - 50

TotalMiddleEast 1.6 1.3 0.2 -

Asia Pacific

Fujian China 0.2 0.2 0.1 0.2 25

Kawasaki Japan 0.1 - - - 22

Singapore Singapore 0.9 1.9 0.9 0.9 100

Sriracha Thailand - - - 0.5 66

TotalAsiaPacific 1.2 2.1 1.0 1.6

AllOther - - - 0.2

Total Worldwide 8.0 8.5 2.7 3.4

(1) Capacity for ethylene, polyethylene, polypropylene and paraxylene in millions of metric tons per year.

(2) Capacity reflects 100 percent for operations of ExxonMobil and majority-owned subsidiaries. For companies owned 50 percent or

less, capacity is ExxonMobil’s interest.

Iran Threat Reduction andSyria Human Rights Act of 2012

ThecaptionedActwassignedbyPresidentObamaonAugust10,2012.Amongotherthings,theActextendedtheprohibitionagainstU.S.

personsdoingbusinesswiththeGovernmentofIrantoincludesuchpersons’non-U.S.subsidiaries.Previously,non-U.S.subsidiarieswere

notcoveredbythisrestriction.Applicationoftherestrictiontonon-U.S.subsidiariestookeffectonOctober10,2012.TheActalsorequires

registrantstodisclose,intheirannualandquarterlyreports,activitiescoveredbytheActwhichoccurredanytimeduringtheperiodcovered

bythereport,evenifsuchactivitiesoccurredpriortotheeffectivedateoftheActandwerepermittedatthetime.

DuringtheperiodfromJanuarytoSeptember,2012,ExxonMobil’smajority-ownedCanadianaffiliate,ImperialOilLimited(IOL),made

severalfleetsalesofmotorfuelwithanaggregatetotalsalespriceofapproximately11,000CanadiandollarstotheIranianEmbassyin

Canada.IOL’snetprofitsattributabletothesesaleswerelessthan500Canadiandollars.Thesalesweremadewithouttheinvolvementof

anyU.S.personandwerepermittedbyU.S.lawsineffectatthetime.NosalesoccurredaftertheOctober10,2012,effectivedate,andwedo

notexpectanysuchsalestooccurinthefuture.

Theembassysalesstatedaboverepresentanactivitydescribedinparagraph(D)(iii)ofparagraph(1)ofSection13(r)oftheSecuritiesand

ExchangeActof1934andthereforeareexcludedfromtherequiredinvestigationprovisionsofthatstatute.

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ITEM 3. LEGAL PROCEEDINGS

OnOctober31,2012,theIllinoisAttorneyGeneralandWillCountyState'sAttorneyfiledacivilcomplaintandsoughtapreliminary

injunctionagainstExxonMobilOilCorporation(EMOC)relatingtoanOctober18,2012,releaseofoilmistfromapressurereliefvalve

associatedwiththecokerunitatEMOC’sJolietRefinery.Therefineryreportedtheincidentpromptlytoregulatoryauthoritiesandtook

promptresponseactions.TheState’scivilcomplaintseeksapenaltyinexcessof$100,000.OnNovember14,2012,thepartiesenteredinto

anAgreedOrderresolvingsomeoftheissues,includingtheState’sdemandforinjunctiverelief.AspartoftheAgreedOrder,EMOCagreed

tocompleteaninvestigationintotheincident'scauseandtoreportthefindingstotheIllinoisEnvironmentalProtectionAgency(IEPA);

submitaworkschedulefornecessaryimprovements;reportallpollutantsandquantitiesinvolvedintheoilreleaseincident;payall

reasonableresponse,oversightandreviewcostsrelatingtothereleaseincurredbytheIEPAandtheAttorneyGeneral,uptoandnotto

exceed$50,000;andreimburseWillCountyforitsreasonableresponsecostsincurredinthecourseofprovidingemergencyactionrelatingto

therelease,uptoandnottoexceed$20,000.

RegardingamatterpreviouslyreportedintheCorporation’sForm10-Qforthesecondquarterof2012,onDecember17,2012,XTOEnergy

Inc.(XTO)enteredintoasettlementagreementandstipulatedfinalcomplianceorderwiththeNewMexicoEnvironmentDepartment(NMED)

arisingfromNMED’sallegationsthatXTOviolatedtheNewMexicoAirQualityControlActandairpermitsforcompressorenginesatthe

XTOValenciaCanyonCompressorStationinRioArribaCounty,NewMexico.Underthesettlement,XTOhasagreedtopay$90,000to

resolvetheallegedviolations.

Refertotherelevantportionsof“Note16:LitigationandOtherContingencies”oftheFinancialSectionofthisreportforadditional

informationonlegalproceedings.

ITEM 4. MINE SAFETY DISCLOSURES

Notapplicable.

_______________________

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Executive Officers of the Registrant [pursuant to Instruction 3 to Regulation S-K, Item 401(b)]

(ages as of March 1, 2013).

Rex W. Tillerson Chairman of the Board

Heldcurrenttitlesince: January1,2006 Age:60

Mr.RexW.TillersonbecameaDirectorandPresidentofExxonMobilCorporationonMarch1,2004.HebecameChairmanoftheBoard

andChiefExecutiveOfficeronJanuary1,2006.Hestillholdsthesepositionsasofthisfilingdate.

Mark W. Albers Senior Vice President

Heldcurrenttitlesince: April1,2007 Age:56

Mr.MarkW.AlbersbecameSeniorVicePresidentofExxonMobilCorporationonApril1,2007,apositionhestillholdsasofthisfiling

date.

Michael J. Dolan Senior Vice President

Heldcurrenttitlesince: April1,2008 Age:59

Mr.MichaelJ.DolanwasPresidentofExxonMobilChemicalCompanyandVicePresidentofExxonMobilCorporationSeptember1,2004–

March31,2008.HebecameSeniorVicePresidentofExxonMobilCorporationonApril1,2008,apositionhestillholdsasofthisfiling

date.

AndrewP. Swiger Senior Vice President

Heldcurrenttitlesince: April1,2009 Age:56

Mr.AndrewP.SwigerwasPresidentofExxonMobilGas&PowerMarketingCompanyandVicePresidentofExxonMobilCorporation

October1,2006–March31,2009.HebecameSeniorVicePresidentofExxonMobilCorporationonApril1,2009,apositionhestillholds

asofthisfilingdate.

S. Jack Balagia Vice President and General Counsel

Heldcurrenttitlesince: March1,2010 Age:61

Mr.S.JackBalagiawasAssistantGeneralCounselofExxonMobilCorporationApril1,2004–March1,2010.HebecameVicePresident

andGeneralCounselofExxonMobilCorporationonMarch1,2010,positionshestillholdsasofthisfilingdate.

William M. Colton Vice President - Strategic Planning

Heldcurrenttitlesince: February1,2009 Age:59

Mr.WilliamM.ColtonwasAssistantTreasurerofExxonMobilCorporationJanuary25,2006–January31,2009.HebecameVice

President—StrategicPlanningofExxonMobilCorporationonFebruary1,2009,apositionhestillholdsasofthisfilingdate.

Neil W. Duffin President, ExxonMobil Development Company

Heldcurrenttitlesince: April13,2007 Age:56

Mr.NeilW.DuffinbecamePresidentofExxonMobilDevelopmentCompanyonApril13,2007,apositionhestillholdsasofthisfiling

date.

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Robert S. Franklin Vice President

Heldcurrenttitlesince: May1,2009 Age:55

Mr.RobertS.FranklinwasExecutiveAssistanttotheChairman,ExxonMobilCorporationApril16,2007–March31,2008.HewasVice

President,Europe/Russia/CaspianofExxonMobilProductionCompanyApril1,2008–May1,2009.HebecameVicePresidentofExxon

MobilCorporationandPresident,ExxonMobilUpstreamVenturesonMay1,2009,positionshestillholdsasofthisfilingdate.

Stephen M. Greenlee Vice President

Heldcurrenttitlesince: September1,2010 Age:55

Mr.StephenM.GreenleewasVicePresidentofExxonMobilExplorationCompanyJune1,2004–June1,2009.HewasPresidentof

ExxonMobilUpstreamResearchCompanyJune1,2009–August31,2010.HebecamePresidentofExxonMobilExplorationCompanyand

VicePresidentofExxonMobilCorporationonSeptember1,2010,positionshestillholdsasofthisfilingdate.

Alan J. Kelly Vice President

Heldcurrenttitlesince: December1,2007 Age:55

Mr.AlanJ.KellybecamePresidentofExxonMobilLubricants&PetroleumSpecialtiesCompanyandVicePresidentofExxonMobil

CorporationonDecember1,2007.OnFebruary1,2012,thebusinessesofExxonMobilLubricants&PetroleumSpecialtiesCompanyand

ExxonMobilFuelsMarketingCompanywereconsolidatedandMr.KellybecamePresidentofthecombinedExxonMobilFuels,Lubricants

&SpecialtiesMarketingCompanyaswellasVicePresidentofExxonMobilCorporation,positionshestillholdsasofthisfilingdate.

RichardM. Kruger Vice President

Heldcurrenttitlesince: April1,2008 Age:53

Mr.RichardM.KrugerwasExecutiveVicePresidentofExxonMobilProductionCompanyOctober1,2006–March31,2008.Hebecame

PresidentofExxonMobilProductionCompanyandVicePresidentofExxonMobilCorporationonApril1,2008,positionshestillholds

ofthisfilingdate.

Patrick T. Mulva Vice President and Controller

Heldcurrenttitlesince: February1,2002(VicePresident)

July1,2004(Controller)

Age:61

Mr.PatrickT.MulvabecameVicePresidentandControllerofExxonMobilCorporationonJuly1,2004,positionshestillholdsasofthis

filingdate.

Stephen D. Pryor Vice President

Heldcurrenttitlesince: December1,2004 Age:63

Mr.StephenD.PryorwasPresidentofExxonMobilRefining& SupplyCompanyandVicePresidentofExxonMobilCorporation

December1,2004–March31,2008.HebecamePresidentofExxonMobilChemicalCompanyandVicePresidentofExxonMobil

CorporationonApril1,2008,positionshestillholdsasofthisfilingdate.

DavidS. Rosenthal Vice President - Investor Relations and Secretary

Heldcurrenttitlesince: October1,2008 Age:56

Mr.DavidS.RosenthalwasAssistantControllerofExxonMobilCorporationJune1,2006–September30,2008.HebecameVicePresident

—InvestorRelationsandSecretaryofExxonMobilCorporationonOctober1,2008,positionshestillholdsasofthisfilingdate.

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Robert N. Schleckser Vice President and Treasurer

Heldcurrenttitlesince: May1,2011 Age:56

Mr.RobertN.SchleckserwasDownstreamTreasurer,DownstreamBusinessServicesMay1,2005–January31,2009.HewasAssistant

TreasurerofExxonMobilCorporationFebruary1,2009–April30,2011.HebecameVicePresidentandTreasurerofExxonMobil

CorporationonMay1,2011,positionshestillholdsasofthisfilingdate.

James M. Spellings, Jr. Vice President and General Tax Counsel

Heldcurrenttitlesince: March1,2010 Age:51

Mr.JamesM.Spellings,Jr.wasAssociateGeneralTaxCounselofExxonMobilCorporationApril1,2007–March1,2010.HebecameVice

PresidentandGeneralTaxCounselofExxonMobilCorporationonMarch1,2010,positionshestillholdsasofthisfilingdate.

Thomas R. Walters Vice President

Heldcurrenttitlesince: April1,2009 Age:58

Mr.ThomasR.WalterswasExecutiveVicePresidentofExxonMobilDevelopmentCompanyApril13,2007–April1,2009.Hebecame

PresidentofExxonMobilGas&PowerMarketingCompanyandVicePresidentofExxonMobilCorporationonApril1,2009positionshe

stillholdsasofthisfilingdate.

Jack P. Williams, Jr. President, XTO Energy Inc.

Heldcurrenttitlesince: June25,2010 Age:49

Mr.JackP.Williams,Jr.wasVicePresident,Engineering,ExxonMobilProductionCompanyMay1,2007–April30,2009.HewasVice

PresidentofExxonMobilDevelopmentCompanyMay1,2009–July1,2010.HebecamePresidentofXTOEnergyInc.onJune25,2010,a

positionhestillholdsasofthisfilingdate.

Darren W. Woods Vice President

Heldcurrenttitlesince: August1,2012 Age:48

Mr.DarrenW.WoodswasVicePresident,SpecialtyElastomersBusiness,ExxonMobilChemicalCompanyJuly1,2007–January31,2008.

HewasDirector,RefiningEurope/Africa/MiddleEast,ExxonMobilRefining&SupplyCompany February1,2008–June30,2010.He

wasVicePresident,Supply&Transportation,ExxonMobilRefining&SupplyCompanyJuly1,2010–July31,2012.HebecamePresident

ofExxonMobilRefining&SupplyCompanyandVicePresidentofExxonMobilCorporationonAugust1,2012,positionshestillholdsas

ofthisfilingdate.

OfficersaregenerallyelectedbytheBoardofDirectorsatitsmeetingonthedayofeachannualelectionofdirectors,witheachsuch

officerservinguntilasuccessorhasbeenelectedandqualified.

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PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS

AND ISSUER PURCHASES OF EQUITY SECURITIES

Referenceismadetothe“QuarterlyInformation”portionoftheFinancialSectionofthisreport.

Issuer Purchases of Equity Securities for Quarter EndedDecember 31, 2012

Total Number of

Shares

Purchased as Maximum Number

Part of Publicly of Shares that May

Total Number of Average Price Announced Yet Be Purchased

Shares Paid per Plans or Under the Plans or

Period Purchased Share Programs Programs

October2012 18,265,369 91.68 18,265,369

November2012 20,958,452 88.19 20,958,452

December2012 19,688,345 87.95 19,688,345

Total 58,912,166 89.19 58,912,166 (Seenote1)

Note1-OnAugust1,2000,theCorporationannounceditsintentiontoresumepurchasesofsharesofitscommonstockforthetreasury

bothtooffsetsharesissuedinconjunctionwithcompanybenefitplansandprogramsandtograduallyreducethenumberofshares

outstanding.Theannouncementdidnotspecifyanamountorexpirationdate.TheCorporationhascontinuedtopurchasesharessincethis

announcementandtoreportpurchasedvolumesinitsquarterlyearningsreleases.InitsmostrecentearningsreleasedatedFebruary1,2013,

theCorporationstatedthatfirstquarter2013sharepurchasesarecontinuingatapaceconsistentwithfourthquarter2012sharereduction

spendingof$5billion.Purchasesmaybemadeinboththeopenmarketandthroughnegotiatedtransactions,andpurchasesmaybe

increased,decreasedordiscontinuedatanytimewithoutpriornotice.

ITEM 6. SELECTED FINANCIAL DATA

Years Ended December 31,

2012 (1) 2011 2010 2009 2008

(millions of dollars, except per share amounts)

Salesandotheroperatingrevenue(2) 453,123 467,029 370,125 301,500 459,579

(2) Sales-based taxes included 32,409 33,503 28,547 25,936 34,508

NetincomeattributabletoExxonMobil 44,880 41,060 30,460 19,280 45,220

Earningspercommonshare 9.70 8.43 6.24 3.99

Earningspercommonshare-assumingdilution 9.70 8.42 6.22 3.98

Cashdividendspercommonshare 2.18 1.85 1.74 1.66

Totalassets 333,795 331,052 302,510 233,323 228,052

Long-termdebt 7,928 9,322 12,227 7,129

(1) See Note 20: Japan Restructuring contained in the Financial Section of this report.

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS

OF OPERATIONS

Referenceismadetothesectionentitled“Management’sDiscussionandAnalysisofFinancialConditionandResultsofOperations”inthe

FinancialSectionofthisreport.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Referenceismadetothesectionentitled“MarketRisks,InflationandOtherUncertainties”,excludingthepartentitled“InflationandOther

Uncertainties,”intheFinancialSectionofthisreport.AllstatementsotherthanhistoricalinformationincorporatedinthisItem7Aare

forward-lookingstatements.Theactualimpactoffuturemarketchangescoulddiffermateriallydueto,amongotherthings,factorsdiscussed

inthisreport.

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ReferenceismadetothefollowingintheFinancialSectionofthisreport:

· Consolidatedfinancialstatements,togetherwiththereportthereonofPricewaterhouseCoopersLLPdatedFebruary27,2013,

beginningwiththesectionentitled“ReportofIndependentRegisteredPublicAccountingFirm”andcontinuingthrough“Note20:

JapanRestructuring”;

· “QuarterlyInformation”(unaudited);

· “SupplementalInformationonOilandGasExplorationandProductionActivities”(unaudited);and

· “FrequentlyUsedTerms”(unaudited).

FinancialStatementScheduleshavebeenomittedbecausetheyarenotapplicableortherequiredinformationisshowninthe

consolidatedfinancialstatementsornotesthereto.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND

FINANCIAL DISCLOSURE

None.

ITEM 9A. CONTROLS AND PROCEDURES

Management’s Evaluation of Disclosure Controls andProcedures

AsindicatedinthecertificationsinExhibit31ofthisreport,theCorporation’schiefexecutiveofficer,principalfinancialofficerandprincipal

accountingofficerhaveevaluatedtheCorporation’sdisclosurecontrolsandproceduresasofDecember31,2012.Basedonthatevaluation,

theseofficershaveconcludedthattheCorporation’sdisclosurecontrolsandproceduresareeffectiveinensuringthatinformationrequired

tobedisclosedbytheCorporationinthereportsthatitfilesorsubmitsundertheSecuritiesExchangeActof1934,asamended,is

accumulatedandcommunicatedtotheminamannerthatallowsfortimelydecisionsregardingrequireddisclosuresandareeffectivein

ensuringthatsuchinformationisrecorded,processed,summarizedandreportedwithinthetimeperiodsspecifiedintheSecuritiesand

ExchangeCommission’srulesandforms.

Management’s Report on Internal Control Over Financial Reporting

Management,includingtheCorporation’schiefexecutiveofficer,principalfinancialofficerandprincipalaccountingofficer,isresponsiblefor

establishingandmaintainingadequateinternalcontrolovertheCorporation’sfinancialreporting.Managementconductedanevaluationof

theeffectivenessofinternalcontroloverfinancialreportingbasedoncriteriaestablishedinInternalControl-IntegratedFrameworkissued

bytheCommitteeofSponsoringOrganizationsoftheTreadwayCommission.Basedonthisevaluation,managementconcludedthatExxon

MobilCorporation’sinternalcontroloverfinancialreportingwaseffectiveasofDecember31,2012.

PricewaterhouseCoopersLLP,anindependentregisteredpublicaccountingfirm,auditedtheeffectivenessoftheCorporation’sinternal

controloverfinancialreportingasofDecember31,2012,asstatedintheirreportincludedintheFinancialSectionofthisreport.

Changes in Internal Control Over Financial Reporting

TherewerenochangesduringtheCorporation’slastfiscalquarterthatmateriallyaffected,orarereasonablylikelytomateriallyaffect,the

Corporation’sinternalcontroloverfinancialreporting.

ITEM 9B. OTHER INFORMATION

EffectiveApril1,2013,theannualsalaryforMarkW.Alberswillincreaseto$1,110,000andMichaelJ.Dolanwillincreaseto$1,200,000.Like

allotherExxonMobilexecutiveofficers,Messrs.AlbersandDolanare“at-will”employeesoftheCorporationandtheydonothave

employmentcontracts.

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PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Incorporatedbyreferencetothefollowingfromtheregistrant’sdefinitiveproxystatementforthe2013annualmeetingofshareholders(the

“2013ProxyStatement”):

· Thesectionentitled“ElectionofDirectors”;

· Theportionentitled“Section16(a)BeneficialOwnershipReportingCompliance”ofthesectionentitled“DirectorandExecutive

OfficerStockOwnership”;

· Theportionsentitled“DirectorQualifications”and“CodeofEthicsandBusinessConduct”ofthesectionentitled“Corporate

Governance”;and

· The“AuditCommittee”portionandthemembershiptableoftheportionentitled“BoardMeetingsandCommittees;Annual

MeetingAttendance”ofthesectionentitled“CorporateGovernance”.

ITEM 11. EXECUTIVE COMPENSATION

Incorporatedbyreferencetothesectionsentitled“DirectorCompensation,”“CompensationCommitteeReport,”“CompensationDiscussion

andAnalysis”and“ExecutiveCompensationTables”oftheregistrant’s2013ProxyStatement.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND

RELATED STOCKHOLDER MATTERS

TheinformationrequiredunderItem403ofRegulationS-Kisincorporatedbyreferencetothesections“DirectorandExecutiveOfficerStock

Ownership”and“CertainBeneficialOwners”oftheregistrant’s2013ProxyStatement.

Equity Compensation Plan Information

(a) (b) (c)

Number of Securities

Weighted- Remaining Available

Average for Future Issuance

Number of Securities Exercise Price Under Equity

to be Issued Upon of Outstanding Compensation

Exercise of Options, Plans [Excluding

Outstanding Options, Warrants and Securities Reflected

Plan Category Warrants and Rights Rights in Column (a)]

Equitycompensationplansapprovedbysecurityholders 10,481,088 (1)(2) - 125,413,149(2)(3)(4)

Equitycompensationplansnotapprovedbysecurityholders - - -

Total 10,481,088 - 125,413,149

(1) The number ofrestricted stock units to be settled in shares.

(2) Does not include options that ExxonMobil assumed in the 2010 merger with XTO Energy Inc. At year-end 2012, the number of

securities to be issued upon exercise of outstanding options under XTO Energy Inc. plans was 2,355,003, and the weighted-average

exercise price ofsuch options was $78.60. No additional awards may be made under those plans.

(3) Available shares can be granted in the form of restricted stock, options, or other stock-based awards. Includes 124,736,449 shares

available for award under the 2003 Incentive Program and 676,700 shares available for award under the 2004 Non-Employee

Director Restricted Stock Plan.

(4) Under the 2004 Non-Employee Director Restricted Stock Plan approved by shareholders in May 2004, and the related standing

resolution adopted by the Board, each non-employee director automatically receives 8,000 shares of restricted stock when first

elected to the Board and, if the director remains in of ice, an additional 2,500 restricted shares each following year. While on the

Board, each non-employee director receives the same cash dividends on restricted shares as a holder of regular common stock, but

the director is not allowed to sell the shares. The restricted shares may be forfeited if the director leaves the Board early.

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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR

INDEPENDENCE

Incorporatedbyreferencetotheportionsentitled“RelatedPersonTransactionsandProcedures”and“DirectorIndependence”ofthe

sectionentitled“CorporateGovernance”oftheregistrant’s2013ProxyStatement.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

Incorporatedbyreferencetotheportionentitled“AuditCommittee”ofthesectionentitled“CorporateGovernance”andthesectionentitled

“RatificationofIndependentAuditors”oftheregistrant’s2013ProxyStatement.

PART IV

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

(a) (1)and(2)FinancialStatements:

SeeTableofContentsoftheFinancialSectionofthisreport.

(a) (3)Exhibits:

SeeIndextoExhibitsofthisreport.

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FINANCIAL SECTION

TABLEOF CONTENTS

BusinessProfile 35

FinancialSummary 36

FrequentlyUsedTerms 37

QuarterlyInformation 39

Management’sDiscussionandAnalysisofFinancialCondition

andResultsofOperations

FunctionalEarnings 40

Forward-LookingStatements 41

Overview 41

BusinessEnvironmentandRiskAssessment 41

Reviewof2012and2011Results 44

LiquidityandCapitalResources 47

CapitalandExplorationExpenditures 52

Taxes 52

EnvironmentalMatters 53

MarketRisks,InflationandOtherUncertainties 53

CriticalAccountingEstimates 55

Management’sReportonInternalControlOverFinancialReporting 59

ReportofIndependentRegisteredPublicAccountingFirm 60

ConsolidatedFinancialStatements

StatementofIncome 61

StatementofComprehensiveIncome 62

BalanceSheet 63

StatementofCashFlows 64

StatementofChangesinEquity 65

NotestoConsolidatedFinancialStatements

1.SummaryofAccountingPolicies 66

2.AccountingChanges 68

3.MiscellaneousFinancialInformation 68

4.OtherComprehensiveIncomeInformation 69

5.CashFlowInformation 70

6.AdditionalWorkingCapitalInformation 70

7.EquityCompanyInformation 71

8.Investments,AdvancesandLong-TermReceivables 72

9.Property,PlantandEquipmentandAssetRetirementObligations 72

10.AccountingforSuspendedExploratoryWellCosts 74

11.LeasedFacilities 76

12.EarningsPerShare 76

13.FinancialInstrumentsandDerivatives 77

14.Long-TermDebt 78

15.IncentiveProgram 79

16.LitigationandOtherContingencies 81

17.PensionandOtherPostretirementBenefits 83

18.DisclosuresaboutSegmentsandRelatedInformation 91

19.Income,Sales-BasedandOtherTaxes 94

20.JapanRestructuring 97

SupplementalInformationonOilandGasExplorationandProductionActivities 98

OperatingSummary 113

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BUSINESS PROFILE

Return on Capital and

Earnings After Average Capital Average Capital Exploration

Income Taxes Employed Employed Expenditures

Financial 2012 2011 2012 2011 2012 2011 2012 2011

(millions of dollars) (percent) (millions of dollars)

Upstream

UnitedStates 3,925 5,096 57,631 54,994 6.8 9.3 11,080 10,741

Non-U.S. 25,970 29,343 81,811 74,813 31.7 39.2 25,004 22,350

Total 29,895 34,439 139,442 129,807 21.4 26.5 36,084 33,091

Downstream

UnitedStates 3,575 2,268 4,630 5,340 77.2 42.5 634

Non-U.S. 9,615 2,191 19,401 18,048 49.6 12.1 1,628

Total 13,190 4,459 24,031 23,388 54.9 19.1 2,262

Chemical

UnitedStates 2,220 2,215 4,671 4,791 47.5 46.2 408

Non-U.S. 1,678 2,168 15,477 15,007 10.8 14.4 1,010

Total 3,898 4,383 20,148 19,798 19.3 22.1 1,418

Corporateandfinancing (2,103) (2,221) (4,527) (2,272) - - 35

Total 44,880 41,060 179,094 170,721 25.4 24.2 39,799 36,766

See Frequently Used Terms for a definition and calculation of capital employed and return on average capital employed.

Operating 2012 2011 2012 2011

(thousands of barrels daily) (thousands of barrels daily)

Netliquidsproduction Refinerythroughput

UnitedStates 418 423 UnitedStates 1,816

Non-U.S. 1,767 1,889 Non-U.S. 3,198

Total 2,185 2,312 Total 5,014

(millions of cubic feet daily) (thousands of barrels daily)

Naturalgasproductionavailableforsale Petroleumproductsales

UnitedStates 3,822 3,917 UnitedStates 2,569

Non-U.S. 8,500 9,245 Non-U.S. 3,605

Total 12,322 13,162 Total 6,174

(thousands of oil-equivalent barrels daily) (thousands of metric tons)

Oil-equivalentproduction(1) 4,239 4,506 Chemicalprimeproductsales(2)

UnitedStates 9,381

Non-U.S. 14,776 15,756

Total 24,157 25,006

(1) Gas converted to oil-equivalent at 6 million cubic feet = 1 thousand barrels.

(2) Prime product sales include ExxonMobil ́s share of equity-company volumes and finished-product transfers to the Downstream.

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FINANCIAL SUMMARY

2012 2011 2010 2009 2008

(millions of dollars, except per share amounts)

Salesandotheroperatingrevenue(1) 453,123 467,029 370,125 301,500 459,579

Earnings

Upstream 29,895 34,439 24,097 17,107 35,402

Downstream 13,190 4,459 3,567 1,781

Chemical 3,898 4,383 4,913 2,309

Corporateandfinancing (2,103) (2,221) (2,117) (1,917) (1,290)

NetincomeattributabletoExxonMobil 44,880 41,060 30,460 19,280 45,220

Earningspercommonshare 9.70 8.43 6.24 3.99

Earningspercommonshare–assumingdilution 9.70 8.42 6.22 3.98

Cashdividendspercommonshare 2.18 1.85 1.74 1.66

EarningstoaverageExxonMobilshareofequity(percent) 28.0 27.3 23.7 17.3

Workingcapital 321 (4,542) (3,649) 3,174 23,166

Ratioofcurrentassetstocurrentliabilities(times) 1.01 0.94 0.94 1.06

Additionstoproperty,plantandequipment 35,179 33,638 74,156 22,491 19,318

Property,plantandequipment,lessallowances 226,949 214,664 199,548 139,116 121,346

Totalassets 333,795 331,052 302,510 233,323 228,052

Explorationexpenses,includingdryholes 1,840 2,081 2,144 2,021

Researchanddevelopmentcosts 1,042 1,044 1,012 1,050

Long-termdebt 7,928 9,322 12,227 7,129

Totaldebt 11,581 17,033 15,014 9,605

Fixed-chargecoverageratio(times) 62.4 53.4 42.2 25.8

Debttocapital(percent) 6.3 9.6 9.0 7.7

Netdebttocapital(percent)(2) 1.2 2.6 4.5 (1.0)

ExxonMobilshareofequityatyear-end 165,863 154,396 146,839 110,569 112,965

ExxonMobilshareofequitypercommonshare 36.84 32.61 29.48 23.39

Weightedaveragenumberofcommonshares

outstanding(millions) 4,628 4,870 4,885 4,832

Numberofregularemployeesatyear-end(thousands)(3) 76.9 82.1 83.6 80.7

CORSemployeesnotincludedabove(thousands)(4) 11.1 17.0 20.1 22.0

(1) Sales and other operating revenue includes sales-based taxes of $32,409 million for 2012, $33,503 million for 2011, $28,547 million

for 2010, $25,936 million for 2009 and $34,508 million for 2008.

(2) Debt net of cash, excluding restricted cash.

(3) Regular employees are defined as active executive, management, professional, technical and wage employees who work full time or

part time for the Corporation and are covered by the Corporation’s benefit plans and programs.

(4) CORS employees are employees of company-operated retail sites.

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FREQUENTLYUSED TERMS

ListedbelowaredefinitionsofseveralofExxonMobil’skeybusinessandfinancialperformancemeasures.Thesedefinitionsareprovidedto

facilitateunderstandingofthetermsandtheircalculation.

Cash FlowFrom Operations andAsset Sales

Cashflowfromoperationsandassetsalesisthesumofthenetcashprovidedbyoperatingactivitiesandproceedsassociatedwithsalesof

subsidiaries,property,plantandequipment,andsalesandreturnsofinvestmentsfromtheConsolidatedStatementofCashFlows.Thiscash

flowreflectsthetotalsourcesofcashfrombothoperatingtheCorporation’sassetsandfromthedivestingofassets.TheCorporation

employsalong-standingandregulardisciplinedreviewprocesstoensurethatallassetsarecontributingtotheCorporation’sstrategic

objectives.Assetsaredivestedwhentheyarenolongermeetingtheseobjectivesorareworthconsiderablymoretoothers.Becauseofthe

regularnatureofthisactivity,webelieveitisusefulforinvestorstoconsiderproceedsassociatedwithassetsalestogetherwithcash

providedbyoperatingactivitieswhenevaluatingcashavailableforinvestmentinthebusinessandfinancingactivities,including

shareholderdistributions.

Cash flowfrom operations andasset sales 2012 2011 2010

(millions of dollars)

Netcashprovidedbyoperatingactivities 56,170 55,345 48,413

Proceedsassociatedwithsalesofsubsidiaries,property,plantandequipment,

andsalesandreturnsofinvestments 7,655 11,133

Cashflowfromoperationsandassetsales 63,825 66,478 51,674

Capital Employed

Capitalemployedisameasureofnetinvestment.Whenviewedfromtheperspectiveofhowthecapitalisusedbythebusinesses,itincludes

ExxonMobil’snetshareofproperty,plantandequipmentandotherassetslessliabilities,excludingbothshort-termandlong-termdebt.

WhenviewedfromtheperspectiveofthesourcesofcapitalemployedintotalfortheCorporation,itincludesExxonMobil’sshareoftotal

debtandequity.BothoftheseviewsincludeExxonMobil’sshareofamountsapplicabletoequitycompanies,whichtheCorporationbelieves

shouldbeincludedtoprovideamorecomprehensivemeasureofcapitalemployed.

Capital employed 2012 2011 2010

(millions of dollars)

Businessuses:assetandliabilityperspective

Totalassets 333,795 331,052 302,510

Lessliabilitiesandnoncontrollinginterestsshareofassetsandliabilities

Totalcurrentliabilitiesexcludingnotesandloanspayable (60,486) (69,794) (59,846)

Totallong-termliabilitiesexcludinglong-termdebt (90,068) (83,481) (74,971)

Noncontrollinginterestsshareofassetsandliabilities (6,235) (7,314) (6,532)

AddExxonMobilshareofdebt-financedequitycompanynetassets 5,775 4,943

Totalcapitalemployed 182,781 175,406 166,036

Totalcorporatesources:debtandequityperspective

Notesandloanspayable 3,653 7,711

Long-termdebt 7,928 9,322 12,227

ExxonMobilshareofequity 165,863 154,396 146,839

Lessnoncontrollinginterestsshareoftotaldebt (438) (966)

AddExxonMobilshareofequitycompanydebt 5,775 4,943

Totalcapitalemployed 182,781 175,406 166,036

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FREQUENTLYUSED TERMS

Return on Average Capital Employed

Returnonaveragecapitalemployed(ROCE)isaperformancemeasureratio.Fromtheperspectiveofthebusinesssegments,ROCEisannual

businesssegmentearningsdividedbyaveragebusinesssegmentcapitalemployed(averageofbeginningandend-of-yearamounts).These

segmentearningsincludeExxonMobil’sshareofsegmentearningsofequitycompanies,consistentwithourcapitalemployeddefinition,and

excludethecostoffinancing.TheCorporation’stotalROCEisnetincomeattributabletoExxonMobilexcludingtheafter-taxcostof

financing,dividedbytotalcorporateaveragecapitalemployed.TheCorporationhasconsistentlyapplieditsROCEdefinitionformanyyears

andviewsitasthebestmeasureofhistoricalcapitalproductivityinourcapital-intensive,long-termindustry,bothtoevaluatemanagement’s

performanceandtodemonstratetoshareholdersthatcapitalhasbeenusedwiselyoverthelongterm.Additionalmeasures,whicharemore

cashflowbased,areusedtomakeinvestmentdecisions.

Return on average capital employed 2012 2011 2010

(millions of dollars)

NetincomeattributabletoExxonMobil 44,880 41,060 30,460

Financingcosts(aftertax)

Grossthird-partydebt (401) (153)

ExxonMobilshareofequitycompanies (257) (219)

Allotherfinancingcosts–net 100 116

Totalfinancingcosts (558) (256) (1,101)

Earningsexcludingfinancingcosts 45,438 41,316 31,561

Averagecapitalemployed 179,094 170,721 145,217

Returnonaveragecapitalemployed–corporatetotal 25.4% 24.2%

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QUARTERLYINFORMATION

2012 2011

First Second Third Fourth First Second Third Fourth

Quarter Quarter Quarter Quarter Year Quarter Quarter Quarter Quarter Year

Volumes

Productionofcrudeoil (thousands of barrels daily)

andnaturalgasliquids, 2,214 2,208 2,116 2,203 2,185 2,399 2,351 2,249 2,250

syntheticoilandbitumen

Refinerythroughput 5,330 4,962 4,929 4,837 5,014 5,180 5,193 5,232 5,250

Petroleumproductsales 6,316 6,171 6,105 6,108 6,174 6,267 6,331 6,558 6,493

Naturalgasproduction (millions of cubic feet daily)

availableforsale 14,036 11,661 11,061 12,541 12,322 14,525 12,267 12,197 13,677 13,162

(thousands of oil-equivalent barrels daily)

Oil-equivalentproduction(1) 4,553 4,152 3,960 4,293 4,239 4,820 4,396 4,282 4,530

(thousands of metric tons)

Chemicalprimeproductsales 6,337 5,972 5,947 5,901 24,157 6,322 6,181 6,232 6,271 25,006

Summarized financial data

Salesandotheroperating (millions of dollars)

revenue(2) 119,189 112,745 111,554 109,635 453,123 109,251 121,394 120,475 115,909 467,029

Grossprofit(3) 35,672 32,715 33,209 31,969 133,565 35,473 37,744 37,121 34,306 144,644

Netincomeattributableto

ExxonMobil 9,450 15,910 9,570 9,950 44,880 10,650 10,680 10,330 9,400 41,060

Per share data (dollars per share)

Earningspercommonshare(4) 2.00 3.41 2.09 2.20 9.70 2.14 2.19 2.13 1.97

Earningspercommonshare

–assumingdilution(4) 2.00 3.41 2.09 2.20 9.70 2.14 2.18 2.13 1.97

Dividendspercommonshare 0.47 0.57 0.57 0.57 2.18 0.44 0.47 0.47 0.47

Commonstockprices

High 87.94 87.67 92.57 93.67 93.67 88.23 88.13 85.41 85.63

Low 83.19 77.13 82.83 84.70 77.13 73.64 76.72 67.03 69.21

(1) Gas converted to oil-equivalent at 6 million cubic feet = 1 thousand barrels.

(2) Includes amounts for sales-based taxes.

(3) Gross profit equals sales and other operating revenue less estimated costs associated with products sold.

(4) Computed using the average number of shares outstanding during each period. The sum of the four quarters may not add to the full year.

ThepricerangeofExxonMobilcommonstockisasreportedonthecompositetapeoftheseveralU.S.exchangeswhereExxonMobil

commonstockistraded.TheprincipalmarketwhereExxonMobilcommonstock(XOM)istradedistheNewYorkStockExchange,although

thestockistradedonotherexchangesinandoutsidetheUnitedStates.

Therewere468,497registeredshareholdersofExxonMobilcommonstockatDecember31,2012.AtJanuary31,2013,theregistered

shareholdersofExxonMobilcommonstocknumbered466,674.

OnJanuary30,2013,theCorporationdeclareda$0.57dividendpercommonshare,payableMarch11,2013.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FUNCTIONAL EARNINGS 2012 2011 2010

(millions of dollars, except per share amounts)

Earnings (U.S. GAAP)

Upstream

UnitedStates 3,925 5,096

Non-U.S. 25,970 29,343 19,825

Downstream

UnitedStates 3,575 2,268

Non-U.S. 9,615 2,191

Chemical

UnitedStates 2,220 2,215

Non-U.S. 1,678 2,168

Corporateandfinancing (2,103) (2,221) (2,117)

Net income attributable to ExxonMobil 44,880 41,060 30,460

Earningspercommonshare 9.70 8.43

Earningspercommonshare–assumingdilution 9.70 8.42

ReferencesinthisdiscussiontototalcorporateearningsmeannetincomeattributabletoExxonMobil(U.S.GAAP)fromtheconsolidated

incomestatement.Unlessotherwiseindicated,referencestoearnings,Upstream,Downstream,ChemicalandCorporateandFinancing

segmentearnings,andearningspershareareExxonMobil’sshareafterexcludingamountsattributabletononcontrollinginterests.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FORWARD-LOOKINGSTATEMENTS

Statementsinthisdiscussionregardingexpectations,plansandfutureeventsorconditionsareforward-lookingstatements.Actualfuture

results,includingdemandgrowthandenergysourcemix;capacityincreases;productiongrowthandmix;ratesoffielddecline;financing

sources;theresolutionofcontingenciesanduncertaintaxpositions;environmentalandcapitalexpenditures;coulddiffermaterially

dependingonanumberoffactors,suchaschangesinthesupplyofanddemandforcrudeoil,naturalgas,andpetroleumandpetrochemical

products;theoutcomeofcommercialnegotiations;politicalorregulatoryevents,andotherfactorsdiscussedhereinandinItem1A.Risk

Factors.

Theterm“project”asusedinthisreportdoesnotnecessarilyhavethesamemeaningasunderSECRule13q-1relatingtogovernment

paymentreporting.Forexample,asingleprojectforpurposesoftherulemayencompassnumerousproperties,agreements,investments,

developments,phases,workefforts,activities,andcomponents,eachofwhichwemayalsoinformallydescribeasa“project”.

OVERVIEW

ThefollowingdiscussionandanalysisofExxonMobil’sfinancialresults,aswellastheaccompanyingfinancialstatementsandrelatednotes

toconsolidatedfinancialstatementstowhichtheyrefer,aretheresponsibilityofthemanagementofExxonMobilCorporation.The

Corporation’saccountingandfinancialreportingfairlyreflectitsstraightforwardbusinessmodelinvolvingtheextracting,manufacturingand

marketingofhydrocarbonsandhydrocarbon-basedproducts.TheCorporation’sbusinessmodelinvolvestheproduction(orpurchase),

manufactureandsaleofphysicalproducts,andallcommercialactivitiesaredirectlyinsupportoftheunderlyingphysicalmovement

ofgoods.

ExxonMobil,withitsresourcebase,financialstrength,disciplinedinvestmentapproachandtechnologyportfolio,iswell-positionedto

participateinsubstantialinvestmentstodevelopnewenergysupplies.Whilecommoditypricesarevolatileonashort-termbasisanddepend

onsupplyanddemand,ExxonMobil’sinvestmentdecisionsarebasedonourlong-termbusinessoutlook,usingadisciplinedapproachin

selectingandpursuingthemostattractiveinvestmentopportunities.Thecorporateplanisafundamentalannualmanagementprocessthatis

thebasisforsettingnear-termoperatingandcapitalobjectivesinadditiontoprovidingthelonger-termeconomicassumptionsusedfor

investmentevaluationpurposes.Volumesarebasedonindividualfieldproductionprofiles,whicharealsoupdatedannually.Pricerangesfor

crudeoil,naturalgas,refinedproducts,andchemicalproductsarebasedoncorporateplanassumptionsdevelopedannuallybymajorregion

andareutilizedforinvestmentevaluationpurposes.Potentialinvestmentopportunitiesaretestedoverawiderangeofeconomicscenarios

toestablishtheresiliencyofeachopportunity.Onceinvestmentsaremade,areappraisalprocessiscompletedtoensurerelevantlessonsare

learnedandimprovementsareincorporatedintofutureprojects.

BUSINESS ENVIRONMENT AND RISKASSESSMENT

Long-Term Business Outlook

By2040,theworld’spopulationisprojectedtogrowtoapproximately8.7billionpeople,orabout1.9billionmorethanin2010.Coincident

withthispopulationincrease,theCorporationexpectsworldwideeconomicgrowthtoaveragecloseto3percentperyear.Expanding

prosperityacrossagrowingglobalpopulationisexpectedtocoincidewithanincreaseinprimaryenergydemandofabout35percentby

2040versus2010,evenwithsubstantialefficiencygainsaroundtheworld.Thisdemandincreaseisexpectedtobeconcentratedin

developingcountries(i.e.,thosethatarenotmembernationsoftheOrganizationforEconomicCooperationandDevelopment).

Aseconomicprogressforbillionsofpeopledrivesdemandhigher,increasingpenetrationofenergy-efficientandlower-emissionfuels,

technologiesandpracticesareexpectedtocontributetosignificantlylowerlevelsofenergyconsumptionandemissionsperunitof

economicoutputovertime.Efficiencygainswillresultfromanticipatedimprovementsinthetransportationandpowergenerationsectors,

drivenbythepenetrationofadvancedtechnologies,aswellasmanyotherimprovementsthatspantheresidential,commercialandindustrial

sectors.

Energyfortransportation–includingcars,trucks,ships,trainsandairplanes–isexpectedtoincreasebyabout40percentfrom2010to

2040.Theglobalgrowthintransportationdemandislikelytoaccountforapproximately70percentofthegrowthinliquidfuelsdemandover

thisperiod.Nearlyalltheworld’stransportationfleetswillcontinuetorunonliquidfuelsbecausetheyprovidealargequantityofenergyin

smallvolumes,makingthemeasytotransportandwidelyavailable.

Demandforelectricityaroundtheworldislikelytoincreaseapproximately85percentby2040,ledbygrowthindevelopingcountries.

Consistentwiththisprojection,powergenerationisexpectedtoremainthelargestandfastest-growingmajorsegmentofglobalenergy

demand.Meetingtheexpectedgrowthinpowerdemandwillrequireadiversesetofenergysources.Naturalgasdemandislikelytogrow

mostsignificantlyandbecometheleadingsourceofgeneratedelectricityby2040,reflectingtheefficiencyofgas-firedpowerplants.Today,

coalhasthelargestfuelshareinthepowersector,butitsshareislikelytodecline

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

significantlyby2040aspoliciesaregraduallyadoptedtoreduceenvironmentalimpactsincludingthoserelatedtolocalairqualityand

greenhousegasemissions.Nuclearpowerandrenewables,ledbywind,areexpectedtogrowsignificantlyovertheperiod.

Liquidfuelsprovidethelargestshareofenergysupplytodayduetotheirbroad-basedavailability,affordabilityandeaseoftransportto

meetconsumerneeds.By2040,globaldemandforliquidsisexpectedtogrowtoapproximately113millionbarrelsofoil-equivalentperday,

anincreaseofabout30percentfrom2010.Globaldemandforliquidfuelswillbemetbyawidevarietyofsources.Conventionalcrudeand

condensateproductionisexpectedtoremainrelativelyflatthrough2040.However,growthisexpectedfromawidevarietyofsources,

includingdeep-waterresources,oilsands,tightoil,naturalgasliquids,andbiofuels.Theworld’sresourcebaseissufficienttomeet

projecteddemandthrough2040astechnologyadvancescontinuetoexpandtheavailabilityofeconomicsupplyoptions.However,accessto

resourcesandtimelyinvestmentswillremaincriticaltomeetingglobalneedswithreliable,affordablesupplies.

Naturalgasisaversatilefuelforawidevarietyofapplications,andisexpectedtobethefastestgrowingmajorfuelsourcethrough2040.

Globaldemandisexpectedtoriseabout65percentfrom2010to2040,withdemandincreasesinmajorregionsaroundtheworldrequiringnew

sourcesofsupply.Helpingmeettheseneedswillbesignificantgrowthinsuppliesofunconventionalgas–thenaturalgasfoundinshale

andotherrockformationsthatwasonceconsidereduneconomictoproduce.By2040,unconventionalgasislikelytoapproachone-thirdof

globalgassupplies,upfromlessthan15percentin2010.Growingnaturalgasdemandwillalsostimulatesignificantgrowthintheworldwide

liquefiednaturalgas(LNG)market,whichisexpectedtoreachabout15percentofglobalgasdemandby2040.

Theworld’senergymixishighlydiverseandwillremainsothrough2040.Oilisexpectedtoremainthelargestsourceofenergywithits

shareremainingclosetoone-thirdin2040.Coaliscurrentlythesecondlargestsourceofenergy,butitislikelytolosethatpositionto

naturalgasbyapproximately2025.Theshareofnaturalgasisexpectedtoexceed25percentby2040,whiletheshareofcoalfallstoless

than20percent.Nuclearpowerisprojectedtogrowsignificantly,albeitataslowerpacethanotherwiseexpectedintheaftermathofthe

FukushimaincidentinJapanfollowingtheearthquakeandtsunamiinMarch2011.Totalrenewableenergyislikelytoreachcloseto15

percentoftotalenergyby2040,includingbiomass,hydroandgeothermalatacombinedshareofabout11percent.Totalenergysupplied

fromwind,solarandbiofuelsisexpectedtoincreasecloseto450percentfrom2010to2040,reachingacombinedshareof3to4percentof

worldenergy.

TheCorporationanticipatesthattheworld’savailableoilandgasresourcebasewillgrownotonlyfromnewdiscoveries,butalsofrom

reserveincreasesinpreviouslydiscoveredfields.Technologywillunderpintheseincreases.Thecosttodevelopandsupplythese

resourceswillbesignificant.AccordingtotheInternationalEnergyAgency,theinvestmentrequiredtomeettotaloilandgasenergyneeds

worldwideovertheperiod2012-2035willbecloseto$19trillion(measuredin2011dollars)orcloseto$800billionperyearonaverage.

Internationalaccordsandunderlyingregionalandnationalregulationsforgreenhousegasreductionareevolvingwithuncertaintiming

andoutcome,makingitdifficulttopredicttheirbusinessimpact.ExxonMobilincludesestimatesofpotentialcostsrelatedtopossiblepublic

policiescoveringenergy-relatedgreenhousegasemissionsinitslong-termEnergyOutlook,whichisusedforassessingthebusiness

environmentandinitsinvestmentevaluations.

TheinformationprovidedintheLong-TermBusinessOutlookincludesExxonMobil’sinternalestimatesandforecastsbasedupon

internaldataandanalysesaswellaspubliclyavailableinformationfromexternalsourcesincludingtheInternationalEnergyAgency.

Upstream

ExxonMobilcontinuestomaintainadiverseportfolioofexplorationanddevelopmentopportunities,whichenablestheCorporationtobe

selective,maximizingshareholdervalueandmitigatingpoliticalandtechnicalrisks.ExxonMobil’sfundamentalUpstreambusinessstrategies

guideourglobalexploration,development,production,andgasandpowermarketingactivities.Thesestrategiesincludeidentifyingand

selectivelycapturingthehighestqualityopportunities,exercisingadisciplinedapproachtoinvestingandcostmanagement,developingand

applyinghigh-impacttechnologies,maximizingtheprofitabilityofexistingoilandgasproduction,andcapitalizingongrowingnaturalgas

andpowermarkets. Thesestrategiesareunderpinnedbyarelentlessfocusonoperationalexcellence,commitmenttoinnovative

technologies,developmentofouremployees,andinvestmentinthecommunitieswithinwhichweoperate.

Asfuturedevelopmentprojectsanddrillingactivitiesbringnewproductiononline,theCorporationexpectsashiftinthegeographicmix

ofitsproductionvolumesbetweennowand2017.OilandnaturalgasoutputfromNorthAmericaisexpectedtoincreaseoverthenextfive

yearsbasedoncurrentcapitalactivityplans.Currently,thisgrowthareaaccountsfor32percentoftheCorporation’sproduction.By2017,it

isexpectedtogenerateabout35percentoftotalvolumes.TheremainderoftheCorporation’sproductionisexpectedtoinclude

contributionsfrombothestablishedoperationsandnewprojectsaroundtheglobe.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Inadditiontoanevolvinggeographicmix,weexpecttherewillalsobecontinuedchangeinthetypeofopportunitiesfromwhichvolumes

areproduced.Productionfromdiverseresourcetypesutilizingspecializedtechnologiessuchasarctictechnology,deepwaterdrillingand

productionsystems,heavyoilandoilsandsrecoveryprocesses,unconventionalgasandoilproductionandLNGisexpectedtogrowfrom

about45percenttoaround55percentoftheCorporation’soutputbetweennowand2017.Wedonotanticipatethattheexpectedchangein

thegeographicmixofproductionvolumes,andinthetypesofopportunitiesfromwhichvolumeswillbeproduced,willhaveamaterial

impactonthenatureandtheextentoftherisksdisclosedinItem1A.RiskFactors,orresultinamaterialchangeinourlevelofunitoperating

expenses.TheCorporation’soverallvolumecapacityoutlook,basedonprojectscomingonstreamasanticipated,isforproductioncapacity

togrowovertheperiod2013-2017.However,actualvolumeswillvaryfromyeartoyearduetothetimingofindividualprojectstart-upsand

othercapitalactivities,operationaloutages,reservoirperformance,performanceofenhancedoilrecoveryprojects,regulatorychanges,asset

sales,weatherevents,priceeffectsunderproductionsharingcontractsandotherfactorsdescribedinItem1A.RiskFactors.Enhancedoil

recoveryprojectsextracthydrocarbonsfromreservoirsinexcessofthatwhichmaybeproducedthroughprimaryrecovery,i.e.,through

pressuredepletionornaturalaquifersupport.Theyincludetheinjectionofwater,gasesorchemicalsintoareservoirtoproduce

hydrocarbonsotherwiseunobtainable.

Downstream

ExxonMobil’sDownstream isalarge,diversifiedbusinesswithrefining,logistics,andmarketingcomplexesaroundtheworld.The

CorporationhasapresenceinmaturemarketsinNorthAmericaandEurope,aswellasinthegrowingAsiaPacificregion.ExxonMobil’s

fundamentalDownstreambusinessstrategiespositionthecompanytodeliverlong-termgrowthinshareholdervaluethatissuperiorto

competitionacrossarangeofmarketconditions.Thesestrategiesincludemaintainingbest-in-classoperationsinallaspectsofthebusiness,

maximizingvaluefromleading-edgetechnologies,capitalizingonintegrationacrossExxonMobilbusinesses,selectivelyinvestingfor

resilient,advantagedreturns,leadingtheindustryinefficiencyandeffectiveness,andprovidingquality,valuedproductsandservicesto

customers.

ExxonMobilhasanownershipinterestin32refineries,locatedin17countries,withdistillationcapacityof5.4millionbarrelsperdayand

lubricantbasestockmanufacturingcapacityof126thousandbarrelsperday.ExxonMobil’sfuelsandlubesmarketingbusinesseshave

significantglobalreach,withmultiplechannelstomarketservingadiversecustomerbase.Ourportfolioofworld-renownedbrandsincludes

Exxon,Mobil,Esso,andMobil1.

Thedownstreamindustryenvironmentremainschallenging.Demandweaknessandovercapacityintherefiningsectorwillcontinueto

putpressureonmargins.Inthenearterm,weseevariabilityinrefiningmargins,withsomeregionsseeingstrongermarginsasrefineries

rationalize.InmarketslikeNorthAmerica,lowerrawmaterialandenergycostsdrivenbytheincreasingcrudeandnaturalgasproduction

strengthenedrefiningmarginsinseveralareas.

Refiningmarginsarelargelydrivenbydifferencesincommoditypricesandareafunctionofthedifferencebetweenwhatarefinerypays

foritsrawmaterials(primarilycrudeoil)andthemarketpricesfortherangeofproductsproduced(primarilygasoline,heatingoil,dieseloil,

jetfuelandfueloil).Crudeoilandmanyproductsarewidelytradedwithpublishedprices,includingthosequotedonmultipleexchanges

aroundtheworld(e.g.,NewYorkMercantileExchangeandIntercontinentalExchange).Pricesforthesecommoditiesaredeterminedbythe

globalmarketplaceandareinfluencedbymanyfactors,includingglobalandregionalsupply/demandbalances,inventorylevels,refinery

operations,import/exportbalances,currencyfluctuations,seasonaldemand,weatherandpoliticalclimate.

ExxonMobil’slong-termoutlookisthatrefiningmarginswillremainweakascompetitionintheindustryremainsintenseand,inthenear

term,newcapacityadditionsoutpacethegrowthinglobaldemand.Additionally,asdescribedinmoredetailinItem1A.RiskFactors,

proposedcarbonpolicyandotherclimate-relatedregulationsinmanycountries,aswellasthecontinuedgrowthinbiofuelsmandates,could

havenegativeimpactsontherefiningbusiness.

Intheretailfuelsmarketingbusiness,competitioncontinuestocauseinflation-adjustedmarginstodecline.In2012,ExxonMobil

progressedthetransitionofthedirectserved(i.e.,dealer,company-operated)retailnetworkintheU.S.toamorecapital-efficientbranded

distributormodel.Thistransitionwasannouncedin2008andisnearingcompletion.

Ourlubricantsbusinesscontinuestogrow.ExxonMobilisamarketleaderinhigh-valuesyntheticlubricants,andwecontinuetogrowour

businessinkeymarketssuchasChina,IndiaandRussiaatratesconsiderablyfasterthanindustry.

TheDownstreamportfolioiscontinuallyevaluatedduringallpartsofthebusinesscycle,andnumerousassetdivestmentshavebeen

madeoverthepastdecade.In2012,wedivestedourDownstreambusinessesinArgentina,Uruguay,Paraguay,CentralAmerica,Malaysia,

andSwitzerland.WealsorestructuredandreducedourholdingsinJapan.WheninvestingintheDownstream,ExxonMobilremainsfocused

onselectiveandresilientprojects.TheseinvestmentscapitalizeontheCorporation’sworld-classscaleandintegration,industryleading

efficiency,leading-edgetechnologyandrespectedbrands,enablingExxonMobiltotakeadvantageofattractiveemerginggrowth

opportunitiesaroundtheglobe.In2012,thecompanycompletedtheHydrofinerConversionProjectattheFawley,UnitedKingdom,refinery

toproducehigher-valueultra-lowsulfurdiesel.

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AttheJurong/PACrefineryinSingapore,constructionactivitiestobuildanewdieselhydrotreaterareexpectedtocompletein2013,

addingcapacityofmorethan2milliongallonsperdayofultra-lowsulfurdieseltomeetincreasingdemandintheAsiaPacificregion.

Additionally,constructionofalowersulfurfuelsprojectatthejointSaudiAramcoandExxonMobilSAMREFRefineryinYanbu,Saudi

Arabiaisalsounderway.Theprojectwillincludenewgasolineandexpandeddieselhydrotreatingandsulfurrecoveryequipment,and

completionisexpectedbytheendof2013.WearealsoexpandingourSingaporeandChinalubeoilblendingplantstosupportfuture

demandgrowthintheseemergingmarkets.

Chemical

Worldwidepetrochemicaldemandgrew modestlyin2012withsubstantialvariationsinregionalperformance. InNorthAmerica,

unconventionalnaturalgascontinuedtoprovideadvantagedethanefeedstockandlowcostenergyforsteamcrackersandafavorable

marginenvironmentforintegratedchemicalproducers.MarginsinAsiaremainedlow,withexcessethylenesupply.Marginsandvolumes

declinedinEuropewiththeweakereconomy.Specialtyproductsoverallreportedfirmglobaldemandandmargins.

ExxonMobilbenefitedfromcontinuedoperationalexcellenceandabalancedportfolioofproducts.Inadditiontobeingaworldwide

supplierofcommoditypetrochemicalproducts,ExxonMobilChemicalalsohasanumberofless-cyclicalSpecialtiesbusinesslines,which

deliveredstrongresultsin2012.Chemical’scompetitiveadvantagesareduetoitsbusinessmix,broadgeographiccoverage,investmentand

costdiscipline,integrationwithrefineriesorupstreamgasprocessingfacilities,superiorfeedstockmanagement,leadingproprietary

technologyandproductapplicationexpertise.

In2012ExxonMobilcompletedconstructionoftheSingaporepetrochemicalexpansionprojectandcommencedstart-upoperationsatone

oftheworld’slargestethylenesteamcrackers,thecenterpieceofthecompany’smulti-billiondollarexpansionatthecomplex.Poweredbya

new220-megawattcogenerationplant,theexpansionadds2.6milliontonnesperyearofnewfinishedproductcapacity.

REVIEW OF 2012 AND 2011 RESULTS

2012 2011 2010

(millions of dollars)

Earnings(U.S.GAAP) 44,880 41,060 30,460

2012

Earningsin2012of$44,880millionincreased$3,820millionfrom2011.

2011

Earningsin2011of$41,060millionincreased$10,600millionfrom2010.

Upstream

2012 2011 2010

(millions of dollars)

Upstream

UnitedStates 3,925 5,096

Non-U.S. 25,970 29,343 19,825

Total 29,895 34,439 24,097

2012

Upstreamearningswere$29,895million,down$4,544millionfrom2011.Lowerliquidsrealizations,partlyoffsetbyimprovednaturalgas

realizations,decreasedearningsbyabout$100million.Productionvolumeandmixeffectsdecreasedearningsby$2.3billion.Allother

items,includinghigheroperatingexpenses,unfavorabletaxitems,lowergainsonassetsales,andunfavorableforeignexchangeeffects,

reducedearningsby$2.1billion.Onanoil-equivalentbasis,productionwasdown5.9percentcomparedto2011.Excludingtheimpactsof

entitlementvolumes,OPECquotaeffectsanddivestments,productionwasdown1.7percent.Liquidsproductionof2,185kbd(thousandsof

barrelsperday)decreased127kbdfrom2011.Excludingtheimpactsofentitlementvolumes,OPECquotaeffectsanddivestments,liquids

productionwasdown1.6percent,asfielddeclinewaspartlyoffsetbyprojectramp-upinWestAfricaandlowerdowntime.Naturalgas

productionof12,322mcfd(millionsofcubicfeetperday)decreased840mcfdfrom2011.Excludingtheimpactsofentitlementvolumesand

divestments,naturalgasproductionwasdown1.9percent,asfielddeclinewaspartiallyoffsetbyhigherdemandandlowerdowntime.

Earningsfrom

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U.S.Upstreamoperationsfor2012were$3,925million,down$1,171millionfrom2011.EarningsoutsidetheU.S.were$25,970million,down

$3,373million.

2011

Upstreamearningswere$34,439million,up$10,342millionfrom2010.Highercrudeoilandnaturalgasrealizationsincreasedearningsby

$10.6billion,whilevolumeandproductionmixeffectsdecreasedearningsby$2.5billion.Allotheritemsincreasedearningsby$2.2billion,

drivenbyhighergainsonassetsalesof$2.7billion,partlyoffsetbyincreasedoperatingactivity.Onanoil-equivalentbasis,productionwas

up1percentcomparedto2010.Excludingtheimpactsofentitlementvolumes,OPECquotaeffectsanddivestments,productionwasup4

percent.Liquidsproductionof2,312kbddecreased110kbdfrom2010.Excludingtheimpactsofentitlementvolumes,OPECquotaeffectsand

divestments,liquidsproductionwasinlinewith2010,ashighervolumesfromQatar,theU.S.,andIraqoffsetfielddecline.Naturalgas

productionof13,162mcfdincreased1,014mcfdfrom2010,drivenbyadditionalU.S.unconventionalgasvolumesandprojectramp-upsin

Qatar.EarningsfromU.S.Upstreamoperationsfor2011were$5,096million,anincreaseof$824million.EarningsoutsidetheU.S.were

$29,343million,up$9,518million.

Downstream

2012 2011 2010

(millions of dollars)

Downstream

UnitedStates 3,575 2,268

Non-U.S. 9,615 2,191

Total 13,190 4,459

2012

Downstreamearningsof$13,190millionincreased$8,731millionfrom2011.Strongerrefining-drivenmarginsincreasedearningsby$2.6

billion,whilevolumeandmixeffectsincreasedearningsbyabout$200million.Allotheritemsincreasedearningsby$5.9billiondueprimarily

tothe$5.3billiongainassociatedwiththeJapanrestructuringandotherdivestmentgains.Petroleumproductsalesof6,174kbddecreased

239kbdfrom2011duemainlytotheJapanrestructuringanddivestments.U.S.Downstreamearningswere$3,575million,up$1,307million

from2011.Non-U.S.Downstreamearningswere$9,615million,anincreaseof$7,424millionfromlastyear.

2011

Downstreamearningsof$4,459millionincreased$892millionfrom2010.Margins,mainlyrefining,increasedearningsby$800million.Volume

andmixeffectsimprovedearningsby$630million.Allotheritems,primarilytheabsenceoffavorabletaxeffectsandhigherexpenses,

decreasedearningsby$540million.Petroleum productsalesof6,413kbdwereinlinewith2010.U.S.Downstream earningswere

$2,268million,up$1,498millionfrom2010.Non-U.S.Downstreamearningswere$2,191million,$606millionlowerthan2010.

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Chemical

2012 2011 2010

(millions of dollars)

Chemical

UnitedStates 2,220 2,215

Non-U.S. 1,678 2,168

Total 3,898 4,383

2012

Chemicalearningsof$3,898millionwere$485millionlowerthan2011.Marginsdecreasedearningsby$440million,whilevolumeeffects

loweredearningsby$100million.Allotheritemsincreasedearningsby$50million,asa$630milliongainassociatedwiththeJapan

restructuringandfavorabletaximpactsweremostlyoffsetbyunfavorableforeignexchangeeffectsandhigheroperatingexpenses.Prime

productsalesof24,157kt(thousandsofmetrictons)weredown849ktfrom2011.U.S.Chemicalearningswere$2,220million,up$5million

from2011.Non-U.S.Chemicalearningswere$1,678million,$490millionlowerthanlastyear.

2011

Chemicalearningsof$4,383millionweredown$530millionfrom2010.Strongermarginsincreasedearningsby$260million,whilelower

volumesreducedearningsby$180million.Otheritems,includingunfavorabletaxeffectsandhigherplannedmaintenanceexpense,

decreasedearningsby$610million.Primeproductsalesof25,006ktweredown885ktfrom2010.U.S.Chemicalearningswere$2,215million,

down$207millionfrom2010.Non-U.S.Chemicalearningswere$2,168million,$323millionlowerthan2010.

Corporate andFinancing

2012 2011 2010

(millions of dollars)

Corporateandfinancing (2,103) (2,221) (2,117)

2012

Corporateandfinancingexpenseswere$2,103million,down$118millionfrom2011.

2011

Corporateandfinancingexpenseswere$2,221million,up$104millionfrom2010.

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LIQUIDITYAND CAPITAL RESOURCES

Sources andUses of Cash

2012 2011 2010

(millions of dollars)

Netcashprovidedby/(usedin)

Operatingactivities 56,170 55,345 48,413

Investingactivities (25,601) (22,165) (24,204)

Financingactivities (33,868) (28,256) (26,924)

Effectofexchangeratechanges 217 (85)

Increase/(decrease)incashandcashequivalents (3,082) 4,839 (2,868)

(December 31)

Cashandcashequivalents 9,582 12,664

Cashandcashequivalents-restricted 341 404

Totalcashandcashequivalents 9,923 13,068

Totalcashandcashequivalentswere$9.9billionattheendof2012,$3.1billionlowerthantheprioryear.Higherearningsandahigher

adjustmentfornon-cashtransactionsweremorethanoffsetbylowerproceedsfromsalesofsubsidiariesandproperty,plantandequipment,

anetdebtdecreasecomparedtoaprioryeardebtincrease,andahigheradjustmentfornetgainsonassetsales.Includedintotalcashand

cashequivalentsatyear-end2012was$0.3billionofrestrictedcash.

Totalcashandcashequivalentswere$13.1billionattheendof2011,$4.6billionhigherthantheprioryear.Higherearnings,proceeds

associatedwithassetsales,includinga$3.6billiondepositforapotentialassetsale,andanetdebtincreaseincontrastwithprioryeardebt

repurchaseswerepartiallyoffsetbyahigherlevelofpurchasesofExxonMobilsharesandahigherlevelofcapitalspending.Includedintotal

cashandcashequivalentsatyear-end2011was$0.4billionofrestrictedcash.Foradditionaldetails,seetheConsolidatedStatementofCash

Flows.

AlthoughtheCorporationhasaccesstosignificantcapacityoflong-termandshort-termliquidity,internallygeneratedfundscoverthe

majorityofitsfinancialrequirements.CashthatmaybetemporarilyavailableassurplustotheCorporation’simmediateneedsiscarefully

managedthroughcounterpartyqualityandinvestmentguidelinestoensureitissecureandreadilyavailabletomeettheCorporation’scash

requirementsandtooptimizereturns.

TosupportcashflowsinfutureperiodstheCorporationwillneedtocontinuallyfindanddevelopnewfields,andcontinuetodevelop

andapplynewtechnologiesandrecoveryprocessestoexistingfields,inordertomaintainorincreaseproduction.Afteraperiodof

productionatplateaurates,itisthenatureofoilandgasfieldseventuallytoproduceatdecliningratesfortheremainderoftheireconomic

life.AveragedoveralltheCorporation’sexistingoilandgasfieldsandwithoutnewprojects,ExxonMobil’sproductionisexpectedtodecline

atanaverageofapproximately3percentperyearoverthenextfewyears.Declineratescanvarywidelybyindividualfieldduetoanumber

offactors,including,butnotlimitedto,thetypeofreservoir,fluidproperties,recoverymechanisms,workactivity,andageofthefield.

Furthermore,theCorporation’snetinterestinproductionforindividualfieldscanvarywithpriceandcontractualterms.

TheCorporationhaslongbeensuccessfulatoffsettingtheeffectsofnaturalfielddeclinethroughdisciplinedinvestmentsinquality

opportunitiesandprojectexecution.Overthelastdecade,thishasresultedinnetannualadditionstoprovedreservesthathaveexceeded

theamountproduced.Projectsareinprogressorplannedtoincreaseproductioncapacity.However,thesevolumeincreasesaresubjecttoa

varietyofrisksincludingprojectstart-uptiming,operationaloutages,reservoirperformance,crudeoilandnaturalgasprices,weatherevents,

andregulatorychanges.TheCorporation’scashflowsarealsohighlydependentoncrudeoilandnaturalgasprices.PleaserefertoItem1A.

RiskFactorsforamorecompletediscussionofrisks.

TheCorporation’sfinancialstrengthenablesittomakelarge,long-termcapitalexpenditures.Capitalandexplorationexpendituresin2012

were$39.8billion,reflectingtheCorporation’scontinuedactiveinvestmentprogram.TheCorporationanticipatesaninvestmentprofileof

about$38billionperyearforthenextseveralyears.Actualspendingcouldvarydependingontheprogressofindividualprojectsand

propertyacquisitions.TheCorporationhasalargeanddiverseportfolioofdevelopmentprojectsandexplorationopportunities,whichhelps

mitigatetheoverallpoliticalandtechnicalrisksoftheCorporation’sUpstreamsegmentandassociatedcashflow.Further,duetoitsfinancial

strength,debtcapacityanddiverseportfolioofopportunities,theriskassociatedwithfailureordelayofanysingleprojectwouldnothavea

significantimpactontheCorporation’sliquidityorabilitytogeneratesufficientcashflowsforoperationsanditsfixedcommitments.The

purchaseandsaleofoilandgaspropertieshavenothadasignificantimpactontheamountortimingofcashflowsfromoperatingactivities.

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Cash Flowfrom Operating Activities

2012

Cashprovidedbyoperatingactivitiestotaled$56.2billionin2012,$0.8billionhigherthan2011.Themajorsourceoffundswasnetincome

includingnoncontrollinginterestsof$47.7billion,anincreaseof$5.5billion.Thenoncashprovisionof$15.9billionfordepreciationand

depletionwasslightlyhigherthan2011.Theadjustmentsforothernoncashtransactionsandchangesinoperationalworkingcapital,

excludingcashanddebt,bothincreasedcashin2012,whiletheadjustmentfornetgainsonassetsalesdecreasedcashby$13.0billionin

2012.

2011

Cashprovidedbyoperatingactivitiestotaled$55.3billionin2011,$6.9billionhigherthan2010.Themajorsourceoffundswasnetincome

includingnoncontrollinginterestsof$42.2billion,adjustedforthenoncashprovisionof$15.6billionfordepreciationanddepletion,bothof

whichincreased.Changesinoperationalworkingcapital,excludingcashanddebt,andtheadjustmentfornetgainsonassetsalesdecreased

cashin2011.Networkingcapitalcontinuedtobenegativeastotalcurrentliabilitiesof$77.5billionexceededtotalcurrentassetsof$73.0

billionatyear-end2011.

Cash Flowfrom Investing Activities

2012

Cashusedininvestmentactivitiesnettedto$25.6billionin2012,$3.4billionhigherthan2011.Spendingforproperty,plantandequipmentof

$34.3billionincreased$3.3billionfrom2011.Proceedsassociatedwithsalesofsubsidiaries,property,plantandequipment,andsalesand

returnsofinvestmentsof$7.7billioncomparedto$11.1billionin2011.Thedecreasereflectsthata$3.6billiondepositwasreceivedin2011

forasalethatclosedin2012.Additionalinvestmentsandadvanceswere$2.6billionlowerin2012.

2011

Cashusedininvestmentactivitiesnettedto$22.2billionin2011,$2.0billionlowerthan2010.Spendingforproperty,plantandequipmentof

$31.0billionincreased$4.1billionfrom2010.Proceedsassociatedwithsalesofsubsidiaries,property,plantandequipment,andsalesand

returnsofinvestmentsof$11.1billioncomparedto$3.3billionin2010.TheincreaseprimarilyreflectsthesaleofUpstreamCanadian,U.K.

andotherproducingpropertiesandassets,thesaleofU.S.servicestations,anda$3.6billiondepositforapotentialassetsale.Additional

investmentsandadvanceswere$2.3billionhigherin2011.

Cash Flowfrom Financing Activities

2012

Cashusedinfinancingactivitieswas$33.9billionin2012,$5.6billionhigherthan2011.Dividendpaymentsoncommonsharesincreasedto

$2.18persharefrom$1.85pershareandtotaled$10.1billion,apay-outof22percentofnetincome.Totaldebtdecreased$5.5billionto$11.6

billionatyear-end.

ExxonMobilshareofequityincreased$11.5billionto$165.9billion.Theadditiontoequityforearningsof$44.9billionwaspartiallyoffset

byreductionsfordistributionstoExxonMobilshareholdersof$10.1billionofdividendsand$20.0billionofpurchasesofsharesof

ExxonMobilstocktoreducesharesoutstanding.

During2012,ExxonMobilCorporationpurchased244millionsharesofitscommonstockforthetreasuryatagrosscostof$21.1billion.

Thesepurchasesweretoreducethenumberofsharesoutstandingandtooffsetsharesissuedinconjunctionwithcompanybenefitplans

andprograms.Sharesoutstandingwerereducedby4.9percentfrom4,734millionto4,502millionattheendof2012.Purchasesweremadein

boththeopenmarketandthroughnegotiatedtransactions.Purchasesmaybeincreased,decreasedordiscontinuedatanytimewithoutprior

notice.

2011

Cashusedinfinancingactivitieswas$28.3billionin2011,$1.3billionhigherthan2010.Dividendpaymentsoncommonsharesincreasedto

$1.85persharefrom$1.74pershareandtotaled$9.0billion,apay-outof22percentofnetincome.Totaldebtincreased$2.0billionto$17.0

billionatyear-end.

ExxonMobilshareofequityincreased$7.6billionto$154.4billion.Theadditiontoequityforearningsof$41.1billionwaspartiallyoffset

byreductionsfordistributionstoExxonMobilshareholdersof$9.0billionofdividendsand$20.0billionof

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purchasesofsharesofExxonMobilstocktoreducesharesoutstanding.Thechangeinthefundedstatusofthepostretirementbenefits

reservesin2011decreasedequityby$4.6billion.

During2011,ExxonMobilCorporationpurchased278millionsharesofitscommonstockforthetreasuryatagrosscostof$22.1billion.

Thesepurchasesweretoreducethenumberofsharesoutstandingandtooffsetsharesissuedinconjunctionwithcompanybenefitplans

andprograms.Sharesoutstandingwerereducedby4.9percentfrom4,979millionto4,734millionattheendof2011.Purchasesweremadein

boththeopenmarketandthroughnegotiatedtransactions.

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Commitments

SetforthbelowisinformationabouttheoutstandingcommitmentsoftheCorporation’sconsolidatedsubsidiariesatDecember31,2012.It

combinesdatafromtheConsolidatedBalanceSheetandfromindividualnotestotheConsolidatedFinancialStatements.

Payments Due by Period

Note 2018

Reference 2014- and

Commitments Number 2013 2017 Beyond Total

(millions of dollars)

Long-termdebt(1) 14 - 2,885 5,043

–Dueinoneyear(2) 6 1,025 - -

Assetretirementobligations(3) 9 776 3,334 7,863 11,973

Pensionandotherpostretirementobligations(4) 17 2,401 4,328 19,475 26,204

Operatingleases(5) 11 2,254 4,460 1,467

Unconditionalpurchaseobligations(6) 16 184 624 319

Take-or-payobligations(7) 2,673 10,523 13,013 26,209

Firmcapitalcommitments(8) 19,609 12,074 836 32,519

Thistableexcludescommoditypurchaseobligations(volumetriccommitmentsbutnofixedorminimumprice)whichareresoldshortlyafter

purchase,eitherinanactive,highlyliquidmarketorunderlong-term,unconditionalsalescontractswithsimilarpricingterms.Examples

includelong-term,noncancelableLNGandnaturalgaspurchasecommitmentsandcommitmentstopurchaserefineryproductsatmarket

prices.Inclusionofsuchcommitmentswouldnotbemeaningfulinassessingliquidityandcashflow,becausethesepurchaseswillbeoffset

inthesameperiodsbycashreceivedfromtherelatedsalestransactions.Thetablealsoexcludesunrecognizedtaxbenefitstotaling$7.7

billionasofDecember31,2012,becausetheCorporationisunabletomakereasonablyreliableestimatesofthetimingofcashsettlements

withtherespectivetaxingauthorities.FurtherdetailsontheunrecognizedtaxbenefitscanbefoundinNote19,Income,Sales-Basedand

OtherTaxes.

Notes:

(1) Includes capitalized lease obligations of $431 million.

(2) The amount due in one year is included in notes and loans payable of $3,653 million.

(3) The fair value of asset retirement obligations, primarily upstream asset removal costs at the completion of field life.

(4) The amount by which the benefit obligations exceeded the fair value of fund assets for certain U.S. and non-U.S. pension and other

postretirement plans at year end. The payments by period include expected contributions to funded pension plans in 2013 and

estimated benefit payments for unfunded plans in all years.

(5) Minimum commitments for operating leases, shown on an undiscounted basis, cover drilling equipment, tankers, service stations and

other properties.

(6) Unconditional purchase obligations (UPOs) are those long-term commitments that are noncancelable or cancelable only under

certain conditions, and that third parties have used to secure financing for the facilities that will provide the contracted goods or

services. The undiscounted obligations of $1,127 million mainly pertain to pipeline throughput agreements and include $584 million

of obligations to equity companies.

(7) Take-or-pay obligations are noncancelable, long-term commitments for goods and services other than UPOs. The undiscounted

obligations of $26,209 million mainly pertain to manufacturing supply, pipeline and terminaling agreements and include $187

million of obligations to equity companies.

(8) Firm commitments related to capital projects, shown on an undiscounted basis, totaled approximately $32.5 billion. These

commitments were primarily associated with Upstream projects outside the U.S., of which $18.4 billion was associated with projects

in Canada, Australia, Africa and Malaysia. The Corporation expects to fund the majority of these projects through internal cash

flow.

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Guarantees

TheCorporationandcertainofitsconsolidatedsubsidiarieswerecontingentlyliableatDecember31,2012,forguaranteesrelatingtonotes,

loansandperformanceundercontracts(Note16).Whereguaranteesforenvironmentalremediationandothersimilarmattersdonotincludea

statedcap,theamountsreflectmanagement’sestimateofthemaximumpotentialexposure.Theseguaranteesarenotreasonablylikelyto

haveamaterialeffectontheCorporation’sfinancialcondition,changesinfinancialcondition,revenuesorexpenses,resultsofoperations,

liquidity,capitalexpendituresorcapitalresources.

Financial Strength

OnDecember31,2012,unusedcreditlinesforshort-termfinancingtotaledapproximately$3.5billion(Note6).

ThetablebelowshowstheCorporation’sfixed-chargecoverageandconsolidateddebt-to-capitalratios.Thedatademonstratethe

Corporation’screditworthiness.

2012 2011

Fixed-chargecoverageratio(times) 62.4 53.4

Debttocapital(percent) 6.3 9.6

Netdebttocapital(percent) 1.2 2.6

ManagementviewstheCorporation’sfinancialstrength,asevidencedbytheabovefinancialratiosandothersimilarmeasures,tobea

competitiveadvantageofstrategicimportance.TheCorporation’ssoundfinancialpositiongivesittheopportunitytoaccesstheworld’s

capitalmarketsinthefullrangeofmarketconditions,andenablestheCorporationtotakeonlarge,long-termcapitalcommitmentsinthe

pursuitofmaximizingshareholdervalue.

Litigation andOther Contingencies

AsdiscussedinNote16,avarietyofclaimshavebeenmadeagainstExxonMobilandcertainofitsconsolidatedsubsidiariesinanumberof

pendinglawsuits.Basedonaconsiderationofallrelevantfactsandcircumstances,theCorporationdoesnotbelievetheultimateoutcomeof

anycurrentlypendinglawsuitagainstExxonMobilwillhaveamaterialadverseeffectupontheCorporation’soperations,financialcondition,

orfinancialstatementstakenasawhole.Therearenoeventsoruncertaintiesbeyondthosealreadyincludedinreportedfinancial

informationthatwouldindicateamaterialchangeinfutureoperatingresultsorfinancialcondition.RefertoNote16foradditionalinformation

onlegalproceedingsandothercontingencies.

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CAPITAL AND EXPLORATION EXPENDITURES

2012 2011

U.S. Non-U.S. Total U.S. Non-U.S. Total

(millions of dollars)

Upstream(1) 11,080 25,004 36,084 10,741 22,350 33,091

Downstream 634 1,628 2,262 518 1,602

Chemical 408 1,010 1,418 290 1,160

Other 35 - 35 105 -

Total 12,157 27,642 39,799 11,654 25,112 36,766

(1) Exploration expenses included.

Capitalandexplorationexpendituresin2012were$39.8billion,astheCorporationcontinuedtopursueopportunitiestofindandproduce

newsuppliesofoilandnaturalgastomeetglobaldemandforenergy.TheCorporationanticipatesaninvestmentprofileofabout$38billion

peryearforthenextseveralyears.Actualspendingcouldvarydependingontheprogressofindividualprojectsandpropertyacquisitions.

Upstreamspendingof$36.1billionin2012wasup9percentfrom2011,reflectinginvestmentsintheGulfofMexicoandcontinued

progressonworld-classprojectsinCanada,AustraliaandPapuaNewGuinea.Propertyacquisitioncostsin2012werecomparableto2011.

Themajorityofexpendituresareondevelopmentprojects,whichtypicallytaketwotofouryearsfromthetimeofrecordingproved

undevelopedreservestothestartofproductionfromthosereserves.Thepercentageofproveddevelopedreserveswas61percentoftotal

provedreservesatyear-end2012,andhasbeenover60percentforthelastfiveyears,indicatingthatprovedreservesareconsistently

movedfromundevelopedtodevelopedstatus.CapitalinvestmentsintheDownstreamtotaled$2.3billionin2012,anincreaseof$0.1billion

from2011,mainlyreflectinghigherenvironmentalandenergy-relatedrefiningprojectspending.TheChemicalcapitalexpendituresof$1.4

billionwerethesamelevelasin2011withhigherinvestmentsintheU.S.,SaudiArabiaandChinaoffsettingreducedspendingonthe

Singaporeexpansionasitapproachesfullstart-up.

TAXES

2012 2011 2010

(millions of dollars)

Incometaxes 31,045 31,051 21,561

Ef ective income tax rate 44% 46%

Sales-basedtaxes 32,409 33,503 28,547

Allothertaxesandduties 38,857 43,544 39,127

Total 102,311 108,098 89,235

2012

Income,sales-basedandallothertaxesanddutiestotaled$102.3billionin2012,adecreaseof$5.8billionor5percentfrom2011.Incometax

expense,bothcurrentanddeferred,was$31.0billion,flatwith2011,withtheimpactofhigherearningsoffsetbythelowereffectivetaxrate.

Theeffectivetaxratewas44percentcomparedto46percentintheprioryearduetoalowereffectivetaxrateondivestments.Sales-based

andallothertaxesanddutiesof$71.3billionin2012decreased$5.8billionreflectingtheJapanrestructuring.

2011

Income,salesbasedandallothertaxesanddutiestotaled$108.1billionin2011,anincreaseof$18.9billionor21percentfrom2010.Income

taxexpense,bothcurrentanddeferred,was$31.1billion,$9.5billionhigherthan2010,reflectinghigherpre-taxincomein2011.Ahighershare

ofpre-taxincomefromtheUpstreamsegmentin2011increasedtheeffectivetaxrateto46percentcomparedto45percentin2010.Salesbasedandallothertaxesanddutiesof$77.0billionin2011increased$9.4billion,reflectinghigherprices.

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ENVIRONMENTAL MATTERS

Environmental Expenditures

2012 2011

(millions of dollars)

Capitalexpenditures 1,989

Otherexpenditures 3,523

Total 5,512

ThroughoutExxonMobil’sbusinesses,newandongoingmeasuresaretakentopreventandminimizetheimpactofouroperationson

air,waterandground.Theseincludeasignificantinvestmentinrefininginfrastructureandtechnologytomanufacturecleanfuelsaswell

asprojectstomonitorandreducenitrogenoxide,sulfuroxideandgreenhousegasemissionsandexpendituresforassetretirement

obligations.UsingdefinitionsandguidelinesestablishedbytheAmericanPetroleumInstitute,ExxonMobil’s2012worldwideenvironmental

expendituresforallsuchpreventativeandremediationsteps,includingExxonMobil’sshareofequitycompanyexpenditures,wereabout$5.5

billion.Thetotalcostforsuchactivitiesisexpectedtohaveamodestincreasein2013and2014(withcapitalexpendituresapproximately45

percentofthetotal).

Environmental Liabilities

TheCorporationaccruesenvironmentalliabilitieswhenitisprobablethatobligationshavebeenincurredandtheamountscanbereasonably

estimated.Thispolicyappliestoassetsorbusinessescurrentlyownedorpreviouslydisposed.ExxonMobilhasaccruedliabilitiesfor

probableenvironmentalremediationobligationsatvarioussites,includingmultipartysiteswheretheU.S.EnvironmentalProtectionAgency

hasidentifiedExxonMobilasoneofthepotentiallyresponsibleparties.Theinvolvementofotherfinanciallyresponsiblecompaniesatthese

multipartysitescouldmitigateExxonMobil’sactualjointandseveralliabilityexposure.Atpresent,noindividualsiteisexpectedtohave

lossesmaterialtoExxonMobil’soperationsorfinancialcondition.Consolidatedcompanyprovisionsmadein2012forenvironmental

liabilitieswere$391million($420millionin2011)andthebalancesheetreflectsaccumulatedliabilitiesof$841millionasofDecember31,2012,

and$886millionasofDecember31,2011.

MARKET RISKS, INFLATION AND OTHER UNCERTAINTIES

Worldwide Average Realizations (1) 2012 2011

CrudeoilandNGL($/barrel) 100.29 100.79

Naturalgas($/kcf) 3.90 4.65

(1) Consolidated subsidiaries.

Crudeoil,naturalgas,petroleumproductandchemicalpriceshavefluctuatedinresponsetochangingmarketforces.Theimpactsofthese

pricefluctuationsonearningsfromUpstream,DownstreamandChemicaloperationshavevaried.IntheUpstream,a$1perbarrelchangein

theweighted-averagerealizedpriceofoilwouldhaveapproximatelya$350millionannualafter-taxeffectonUpstreamconsolidatedplus

equitycompanyearnings.Similarly,a$0.10perkcfchangeintheworldwideaveragegasrealizationwouldhaveapproximatelya$200million

annualafter-taxeffectonUpstreamconsolidatedplusequitycompanyearnings.Foranygivenperiod,theextentofactualbenefitor

detrimentwillbedependentonthepricemovementsofindividualtypesofcrudeoil,taxesandothergovernmenttakeimpacts,price

adjustmentlagsinlong-termgascontracts,andcrudeandgasproductionvolumes.Accordingly,changesinbenchmarkpricesforcrudeoil

andnaturalgasonlyprovidebroadindicatorsofchangesintheearningsexperiencedinanyparticularperiod.

Intheverycompetitivedownstreamandchemicalenvironments,earningsareprimarilydeterminedbymargincaptureratherthanabsolute

pricelevelsofproductssold.Refiningmarginsareafunctionofthedifferencebetweenwhatarefinerpaysforitsrawmaterials(primarily

crudeoil)andthemarketpricesfortherangeofproductsproduced.Thesepricesinturndependonglobalandregionalsupply/demand

balances,inventorylevels,refineryoperations,import/exportbalancesandweather.

TheglobalenergymarketscangiverisetoextendedperiodsinwhichmarketconditionsareadversetooneormoreoftheCorporation’s

businesses.Suchconditions,alongwiththecapital-intensivenatureoftheindustryandverylongleadtimesassociatedwithmanyofour

projects,underscoretheimportanceofmaintainingastrongfinancialposition.ManagementviewstheCorporation’sfinancialstrengthasa

competitiveadvantage.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Ingeneral,segmentresultsarenotdependentontheabilitytoselland/orpurchaseproductsto/fromothersegments.Instead,wheresuch

salestakeplace,theyaretheresultofefficienciesandcompetitiveadvantagesofintegratedrefinery/chemicalcomplexes.Additionally,

intersegmentsalesareatmarket-basedprices.Theproductsboughtandsoldbetweensegmentscanalsobeacquiredinworldwidemarkets

thathavesubstantialliquidity,capacityandtransportationcapabilities.About35percentoftheCorporation’sintersegmentsalesarecrude

oilproducedbytheUpstreamandsoldtotheDownstream.Otherintersegmentsalesincludethosebetweenrefineriesandchemicalplants

relatedtorawmaterials,feedstocksandfinishedproducts.

Althoughpricelevelsofcrudeoilandnaturalgasmayriseorfallsignificantlyovertheshorttomediumtermduetopoliticalevents,OPEC

actionsandotherfactors,industryeconomicsoverthelongtermwillcontinuetobedrivenbymarketsupplyanddemand.Accordingly,the

Corporationteststheviabilityofallofitsinvestmentsoverabroadrangeoffutureprices.TheCorporation’sassessmentisthatits

operationswillcontinuetobesuccessfulinavarietyofmarketconditions.Thisistheoutcomeofdisciplinedinvestmentandasset

managementprograms.

TheCorporationhasanactiveassetmanagementprograminwhichunderperformingassetsareeitherimprovedtoacceptablelevelsor

consideredfordivestment.Theassetmanagementprogramincludesadisciplined,regularreviewtoensurethatallassetsarecontributingto

theCorporation’sstrategicobjectives.Theresultisanefficientcapitalbase,andtheCorporationhasseldomhadtowritedownthecarrying

valueofassets,evenduringperiodsoflowcommodityprices.

Risk Management

TheCorporation’ssize,strongcapitalstructure,geographicdiversityandthecomplementarynatureoftheUpstream,Downstreamand

ChemicalbusinessesreducetheCorporation’senterprise-wideriskfromchangesininterestrates,currencyratesandcommodityprices.Asa

result,theCorporationmakeslimiteduseofderivativeinstrumentstomitigatetheimpactofsuchchanges.Withrespecttoderivatives

activities,theCorporationbelievesthattherearenomaterialmarketorcreditriskstotheCorporation’sfinancialposition,resultsof

operationsorliquidityasaresultofthederivativesdescribedinNote13.TheCorporationdoesnotengageinspeculativederivative

activitiesorderivativetradingactivitiesnordoesitusederivativeswithleveragedfeatures.CreditriskassociatedwiththeCorporation’s

derivativepositionismitigatedbyseveralfactors,includingthequalityofandfinanciallimitsplacedonderivativecounterparties.The

Corporationmaintainsasystemofcontrolsthatincludestheauthorization,reportingandmonitoringofderivativeactivity.

TheCorporationisexposedtochangesininterestrates,primarilyonitsshort-termdebtandtheportionoflong-termdebtthatcarries

floatinginterestrates.Theimpactofa100-basis-pointchangeininterestratesaffectingtheCorporation’sdebtwouldnotbematerialto

earnings,cashfloworfairvalue.AlthoughtheCorporationissueslong-termdebtfromtimetotimeandmaintainsacommercialpaper

program,internallygeneratedfundsareexpectedtocoverthemajorityofitsnetnear-termfinancialrequirements.However,somejointventurepartnersaredependentonthecreditmarkets,andtheirfundingabilitymayimpactthedevelopmentpaceofjoint-ventureprojects.

TheCorporationconductsbusinessinmanyforeigncurrenciesandissubjecttoexchangerateriskoncashflowsrelatedtosales,

expenses,financingandinvestmenttransactions.TheimpactsoffluctuationsinexchangeratesonExxonMobil’sgeographicallyand

functionallydiverseoperationsarevariedandoftenoffsettinginamount.TheCorporationmakeslimiteduseofcurrencyexchangecontracts

tomitigatetheimpactofchangesincurrencyvalues,andexposuresrelatedtotheCorporation’slimiteduseofthecurrencyexchange

contractsarenotmaterial.

Inflation andOther Uncertainties

Thegeneralrateofinflationinmanymajorcountriesofoperationhasremainedmoderateoverthepastfewyears,andtheassociatedimpact

onnon-energycostshasgenerallybeenmitigatedbycostreductionsfromefficiencyandproductivityimprovements.Increaseddemandfor

certainservicesandmaterialshasresultedinhigheroperatingandcapitalcostsinrecentyears.TheCorporationworkstocounterupward

pressureoncoststhroughitseconomiesofscaleinglobalprocurementanditsefficientprojectmanagementpractices.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

CRITICAL ACCOUNTINGESTIMATES

TheCorporation’saccountingandfinancialreportingfairlyreflectitsstraightforwardbusinessmodelinvolvingtheextracting,refiningand

marketingofhydrocarbonsandhydrocarbon-basedproducts.ThepreparationoffinancialstatementsinconformitywithU.S.Generally

AcceptedAccountingPrinciples(GAAP)requiresmanagementtomakeestimatesandjudgmentsthataffectthereportedamountsofassets,

liabilities,revenuesandexpensesandthedisclosureofcontingentassetsandliabilities.TheCorporation’saccountingpoliciesare

summarizedinNote1.

Oil andGas Reserves

Evaluationsofoilandgasreservesareimportanttotheeffectivemanagementofupstreamassets.Theyareintegraltomakinginvestment

decisionsaboutoilandgaspropertiessuchaswhetherdevelopmentshouldproceed.Oilandgasreservequantitiesarealsousedasthe

basisforcalculatingunit-of-productiondepreciationratesandforevaluatingimpairment.

Oilandgasreservesincludebothprovedandunprovedreserves.Provedoilandgasreservesarethosequantitiesofoilandgas,which,

byanalysisofgeoscienceandengineeringdata,canbeestimatedwithreasonablecertaintytobeeconomicallyproducible.Unproved

reservesarethosewithlessthanreasonablecertaintyofrecoverabilityandincludeprobablereserves.Probablereservesarereservesthatare

morelikelytoberecoveredthannot.

Theestimationofprovedreservesisanongoingprocessbasedonrigoroustechnicalevaluations,commercialandmarketassessment,

anddetailedanalysisofwellinformationsuchasflowratesandreservoirpressuredeclines.Theestimationofprovedreservesiscontrolled

bytheCorporationthroughlong-standingapprovalguidelines.Reservechangesaremadewithinawell-established,disciplinedprocess

drivenbyseniorlevelgeoscienceandengineeringprofessionals,assistedbytheReservesTechnicalOversightgroupwhichhassignificant

technicalexperience,culminatinginreviewswithandapprovalbyseniormanagement.Notably,theCorporationdoesnotusespecific

quantitativereservetargetstodeterminecompensation.KeyfeaturesofthereserveestimationprocessarecoveredinDisclosureof

ReservesinItem2.

AlthoughtheCorporationisreasonablycertainthatprovedreserveswillbeproduced,thetimingandamountrecoveredcanbeaffected

byanumberoffactorsincludingcompletionofdevelopmentprojects,reservoirperformance,regulatoryapprovalsandsignificantchangesin

long-termoilandgaspricelevels.

Provedreservescanbefurthersubdividedintodevelopedandundevelopedreserves.Thepercentageofproveddevelopedreserveswas

61percentoftotalprovedreservesatyear-end2012(includingbothconsolidatedandequitycompanyreserves),andhasbeenover60

percentforthelastfiveyears,indicatingthatprovedreservesareconsistentlymovedfromundevelopedtodevelopedstatus.

Revisionscanincludeupwardordownwardchangesinpreviouslyestimatedvolumesofprovedreservesforexistingfieldsduetothe

evaluationorre-evaluationof(1)alreadyavailablegeologic,reservoirorproductiondata,(2)newgeologic,reservoirorproductiondataor

(3)changesinpricesandyear-endcoststhatareusedintheestimationofreserves.Revisionscanalsoresultfromsignificantchangesin

developmentstrategyorproductionequipment/facilitycapacity.

Impact of Oil and Gas Reserves on Depreciation. Thecalculationofunit-of-productiondepreciationisacriticalaccountingestimatethat

measuresthedepreciationofupstreamassets.Itistheratioofactualvolumesproducedtototalproveddevelopedreserves(thoseproved

reservesrecoverablethroughexistingwellswithexistingequipmentandoperatingmethods),appliedtotheassetcost.Thevolumes

producedandassetcostareknownand,whileproveddevelopedreserveshaveahighprobabilityofrecoverability,theyarebasedon

estimatesthataresubjecttosomevariability.WhiletherevisionstheCorporationhasmadeinthepastareanindicatorofvariability,they

havehadaverysmallimpactontheunit-of-productionratesbecausetheyhavebeensmallcomparedtothelargereservesbase.

Impact of Oil and Gas Reserves andPrices on Testing for Impairment. ProvedoilandgaspropertiesheldandusedbytheCorporationare

reviewedforimpairmentwhenevereventsorcircumstancesindicatethatthecarryingamountsmaynotberecoverable.Assetsaregrouped

atthelowestlevelforwhichthereareidentifiablecashflowsthatarelargelyindependentofthecashflowsofothergroupsofassets.

TheCorporationestimatesthefutureundiscountedcashflowsoftheaffectedpropertiestojudgetherecoverabilityofcarryingamounts.

Impairmentanalysesaregenerallybasedonprovedreserves.Whereprobablereservesexist,anappropriatelyrisk-adjustedamountofthese

reservesmaybeincludedintheimpairmentevaluation.Anassetgroupwouldbeimpairedifitsundiscountedcashflowswerelessthanthe

asset’scarryingvalue.Impairmentsaremeasuredbytheamountbywhichthecarryingvalueexceedsfairvalue.

Significantunprovedpropertiesareassessedforimpairmentindividually,andvaluationallowancesagainstthecapitalizedcostsare

recordedbasedontheestimatedeconomicchanceofsuccessandthelengthoftimethattheCorporationexpectstoholdtheproperties.

Propertiesthatarenotindividuallysignificantareaggregatedbygroupsandamortizedbasedondevelopmentriskandaverageholding

period.

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TheCorporationperformsassetvaluationanalysesonanongoingbasisasapartofitsassetmanagementprogram.Theseanalyses

assisttheCorporationinassessingwhetherthecarryingamountsofanyofitsassetsmaynotberecoverable.Inadditiontoestimatingoil

andgasreservevolumesinconductingtheseanalyses,itisalsonecessarytoestimatefutureoilandgasprices.Potentialtriggereventsfor

impairmentevaluationincludeasignificantdecreaseincurrentandprojectedreservevolumes,anaccumulationofprojectcostssignificantly

inexcessoftheamountoriginallyexpected,andcurrentperiodoperatinglossescombinedwithahistoryandforecastofoperatingorcash

flowlosses.

Ingeneral,theCorporationdoesnotviewtemporarilylowpricesormarginsasatriggereventforconductingtheimpairmenttests.The

marketsforcrudeoilandnaturalgashaveahistoryofsignificantpricevolatility.Althoughpriceswilloccasionallydropsignificantly,

industrypricesoverthelongtermwillcontinuetobedrivenbymarketsupplyanddemand.Onthesupplyside,industryproductionfrom

maturefieldsisdeclining,butthisisbeingoffsetbyproductionfromnewdiscoveriesandfielddevelopments.OPECproductionpoliciesalso

haveanimpactonworldoilsupplies.Thedemandsideislargelyafunctionofglobaleconomicgrowth.Therelativegrowth/declineinsupply

versusdemandwilldetermineindustrypricesoverthelongterm,andthesecannotbeaccuratelypredicted.

Accordingly,anyimpairmentteststhattheCorporationperformsmakeuseoftheCorporation’spriceassumptionsdevelopedinthe

annualplanningandbudgetingprocessforthecrudeoilandnaturalgasmarkets,petroleumproductsandchemicals.Thesearethesame

priceassumptionsthatareusedforcapitalinvestmentdecisions.Volumesarebasedonfieldproductionprofiles,whichareupdated

annually.Cashflowestimatesforimpairmenttestingexcludetheeffectsofderivativeinstruments.

Supplementalinformationregardingoilandgasresultsofoperations,capitalizedcostsandreservesisprovidedfollowingthenotesto

consolidatedfinancialstatements.Futurepricesusedforanyimpairmenttestswillvaryfromtheonesusedinthesupplementaloilandgas

disclosureandcouldbelowerorhigherforanygivenyear.

Asset Retirement Obligations

TheCorporationincursretirementobligationsforcertainassets.Thefairvaluesoftheseobligationsarerecordedasliabilitiesona

discountedbasis,whichistypicallyatthetimetheassetsareinstalled.Intheestimationoffairvalue,theCorporationusesassumptionsand

judgmentsregardingsuchfactorsastheexistenceofalegalobligationforanassetretirementobligation;technicalassessmentsofthe

assets;estimatedamountsandtimingofsettlements;discountrates;andinflationrates.AssetretirementobligationsaredisclosedinNote9

tothefinancialstatements.

SuspendedExploratory Well Costs

TheCorporationcontinuescapitalizationofexploratorywellcostswhenthewellhasfoundasufficientquantityofreservestojustifyits

completionasaproducingwellandtheCorporationismakingsufficientprogressassessingthereservesandtheeconomicandoperating

viabilityoftheproject.Exploratorywellcostsnotmeetingthesecriteriaarechargedtoexpense.Thefactsandcircumstancesthatsupport

continuedcapitalizationofsuspendedwellsasofyear-end2012aredisclosedinNote10tothefinancialstatements.

Consolidations

TheConsolidatedFinancialStatementsincludetheaccountsofthosesubsidiariesthattheCorporationcontrols.Theyalsoincludethe

Corporation’sshareoftheundividedinterestincertainupstreamassetsandliabilities.AmountsrepresentingtheCorporation’sinterestin

theunderlyingnetassetsofothersignificantentitiesthatitdoesnotcontrol,butoverwhichitexercisessignificantinfluence,areaccounted

forusingtheequitymethodofaccounting.

InvestmentsincompaniesthatarepartiallyownedbytheCorporationareintegraltotheCorporation’soperations.Insomecasesthey

servetobalanceworldwiderisks,andinotherstheyprovidetheonlyavailablemeansofentryintoaparticularmarketorareaofinterest.The

otherpartieswhoalsohaveanequityinterestinthesecompaniesareeitherindependentthirdpartiesorhostgovernmentsthatshareinthe

businessresultsaccordingtotheirownership.TheCorporationdoesnotinvestinthesecompaniesinordertoremoveliabilitiesfromits

balancesheet.Infact,theCorporationhaslongbeenonrecordsupportinganalternativeaccountingmethodthatwouldrequireeach

investortoconsolidateitsshareofallassetsandliabilitiesinthesepartiallyownedcompaniesratherthanonlyitsinterestinnetequity.This

methodofaccountingforinvestmentsinpartially-ownedcompaniesisnotpermittedbyU.S.GAAPexceptwheretheinvestmentsareinthe

directownershipofashareofupstreamassetsandliabilities.However,forpurposesofcalculatingreturnonaveragecapitalemployed,

whichisnotcoveredbyU.S.GAAPstandards,theCorporationincludesitsshareofdebtofthesepartially-ownedcompaniesinthe

determinationofaveragecapitalemployed.

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Pension Benefits

TheCorporationanditsaffiliatessponsorover100definedbenefit(pension)plansinabout50countries.PensionandOtherPostretirement

Benefits(Note17)providesdetailsonpensionobligations,fundassetsandpensionexpense.

Someoftheseplans(primarilynon-U.S.)providepensionbenefitsthatarepaiddirectlybytheirsponsoringaffiliatesoutofcorporate

cashflowratherthanaseparatepensionfund.Bookreservesareestablishedfortheseplansbecausetaxconventionsandregulatory

practicesdonotencourageadvancefunding.Theportionofthepensioncostattributabletoemployeeserviceisexpensedasservicesare

rendered.Theportionattributabletotheincreaseinpensionobligationsduetothepassageoftimeisexpensedoverthetermofthe

obligations,whichendswhenallbenefitsarepaid.Theprimarydifferenceinpensionexpenseforunfundedversusfundedplansisthat

pensionexpenseforfundedplansalsoincludesacreditfortheexpectedlong-termreturnonfundassets.

Forfundedplans,includingthoseintheU.S.,pensionobligationsarefinancedinadvancethroughsegregatedassetsorinsurance

arrangements.Theseplansaremanagedincompliancewiththerequirementsofgovernmentalauthoritiesandmeetorexceedrequired

fundinglevelsasmeasuredbyrelevantactuarialandgovernmentstandardsatthemandatedmeasurementdates.Indeterminingliabilities

andrequiredcontributions,thesestandardsoftenrequireapproachesandassumptionsthatdifferfromthoseusedforaccountingpurposes.

TheCorporationwillcontinuetomakecontributionstothesefundedplansasnecessary.Alldefined-benefitpensionobligations,

regardlessofthefundingstatusoftheunderlyingplans,arefullysupportedbythefinancialstrengthoftheCorporationortherespective

sponsoringaffiliate.

Pensionaccountingrequiresexplicitassumptionsregarding,amongothers,thelong-termexpectedearningsrateonfundassets,the

discountrateforthebenefitobligationsandthelong-termrateforfuturesalaryincreases.Pensionassumptionsarereviewedannuallyby

outsideactuariesandseniormanagement.Theseassumptionsareadjustedasappropriatetoreflectchangesinmarketratesandoutlook.The

long-termexpectedearningsrateonU.S.pensionplanassetsin2012was7.25percent.The10‐yearand20‐yearactualreturnsonU.S.

pensionplanassetswereboth9percent.TheCorporationestablishesthelong-termexpectedrateofreturnbydevelopingaforward-looking,

long-termreturnassumptionforeachpensionfundassetclass,takingintoaccountfactorssuchastheexpectedrealreturnforthespecific

assetclassandinflation.A single,long-termrateofreturnisthencalculatedastheweightedaverageofthetargetassetallocation

percentagesandthelong-termreturnassumptionforeachassetclass.Aworldwidereductionof0.5percentinthelong-termrateofreturnon

assetswouldincreaseannualpensionexpensebyapproximately$150millionbeforetax.

Differencesbetweenactualreturnsonfundassetsandthelong-termexpectedreturnarenotrecognizedinpensionexpenseintheyear

thatthedifferenceoccurs.Suchdifferencesaredeferred,alongwithotheractuarialgainsandlosses,andareamortizedintopensionexpense

overtheexpectedremainingservicelifeofemployees.

Litigation Contingencies

AvarietyofclaimshavebeenmadeagainsttheCorporationandcertainofitsconsolidatedsubsidiariesinanumberofpendinglawsuits.

Managementhasregularlitigationreviews,includingupdatesfromcorporateandoutsidecounsel,toassesstheneedforaccounting

recognitionordisclosureofthesecontingencies.ThestatusofsignificantclaimsissummarizedinNote16.

TheCorporationaccruesanundiscountedliabilityforthosecontingencieswheretheincurrenceofalossisprobable,andtheamountcan

bereasonablyestimated.Theseamountsarenotreducedbyamountsthatmayberecoveredunderinsuranceorclaimsagainstthirdparties,

butundiscountedreceivablesfrominsurersorotherthirdpartiesmaybeaccruedseparately.TheCorporationrevisessuchaccrualsinlight

ofnewinformation.Forcontingencieswhereanunfavorableoutcomeisreasonablypossibleandwhicharesignificant,theCorporation

disclosesthenatureofthecontingencyand,wherefeasible,anestimateofthepossibleloss.Forpurposesofourlitigationcontingency

disclosures,“significant”includesmaterialmattersaswellasotheritemswhichmanagementbelievesshouldbedisclosed.

Managementjudgmentisrequiredrelatedtocontingentliabilitiesandtheoutcomeoflitigationbecausebotharedifficulttopredict.

However,theCorporationhasbeensuccessfulindefendinglitigationinthepast.Paymentshavenothadamaterialadverseeffecton

operationsorfinancialcondition.IntheCorporation’sexperience,largeclaimsoftendonotresultinlargeawards.Largeawardsareoften

reversedorsubstantiallyreducedasaresultofappealorsettlement.

Tax Contingencies

TheCorporationissubjecttoincometaxationinmanyjurisdictionsaroundtheworld.Significantmanagementjudgmentisrequiredinthe

accountingforincometaxcontingenciesandtaxdisputesbecausetheoutcomesareoftendifficulttopredict.

ThebenefitsofuncertaintaxpositionsthattheCorporationhastakenorexpectstotakeinitsincometaxreturnsarerecognizedinthe

financialstatementsifmanagementconcludesthatitismorelikelythannotthatthepositionwillbesustained

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withthetaxauthorities.Forapositionthatislikelytobesustained,thebenefitrecognizedinthefinancialstatementsismeasuredatthe

largestamountthatisgreaterthan50percentlikelyofbeingrealized.Areserveisestablishedforthedifferencebetweenapositiontakenor

expectedtobetakeninanincometaxreturnandtheamountrecognizedinthefinancialstatements.TheCorporation’sunrecognizedtax

benefitsandadescriptionofopentaxyearsaresummarizedinNote19.

Foreign Currency Translation

ThemethodoftranslatingtheforeigncurrencyfinancialstatementsoftheCorporation’sinternationalsubsidiariesintoU.S.dollarsis

prescribedbyGAAP.Undertheseprinciples,itisnecessarytoselectthefunctionalcurrencyofthesesubsidiaries.Thefunctionalcurrency

isthecurrencyoftheprimaryeconomicenvironmentinwhichthesubsidiaryoperates.Managementselectsthefunctionalcurrencyafter

evaluatingthiseconomicenvironment.

Factorsconsideredbymanagementwhendeterminingthefunctionalcurrencyforasubsidiaryincludethecurrencyusedforcashflows

relatedtoindividualassetsandliabilities;theresponsivenessofsalespricestochangesinexchangerates;thehistoryofinflationinthe

country;whethersalesareintolocalmarketsorexported;thecurrencyusedtoacquirerawmaterials,labor,servicesandsupplies;sourcesof

financing;andsignificanceofintercompanytransactions.

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MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

Management,includingtheCorporation’schiefexecutiveofficer,principalfinancialofficer,andprincipalaccountingofficer,isresponsible

forestablishingandmaintainingadequateinternalcontrolovertheCorporation’sfinancialreporting.Managementconductedanevaluation

oftheeffectivenessofinternalcontroloverfinancialreportingbasedoncriteriaestablishedinInternal Control – Integrated Framework

issuedbytheCommitteeofSponsoringOrganizationsoftheTreadwayCommission.Basedonthisevaluation,managementconcludedthat

ExxonMobilCorporation’sinternalcontroloverfinancialreportingwaseffectiveasofDecember31,2012.

PricewaterhouseCoopersLLP,anindependentregisteredpublicaccountingfirm,auditedtheeffectivenessoftheCorporation’sinternal

controloverfinancialreportingasofDecember31,2012,asstatedintheirreportincludedintheFinancialSectionofthisreport.

RexW.Tillerson

ChiefExecutiveOfficer

AndrewP.Swiger

SeniorVicePresident

(PrincipalFinancialOfficer)

PatrickT.Mulva

VicePresidentandController

(PrincipalAccountingOfficer)

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM

TotheShareholdersofExxonMobilCorporation:

Inouropinion,theaccompanyingConsolidatedBalanceSheetsandtherelatedConsolidatedStatementsofIncome,ComprehensiveIncome,

ChangesinEquityandCashFlowspresentfairly,inallmaterialrespects,thefinancialpositionofExxonMobilCorporationandits

subsidiariesatDecember31,2012,and2011,andtheresultsoftheiroperationsandtheircashflowsforeachofthethreeyearsintheperiod

endedDecember31,2012,inconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.Alsoinouropinion,

theCorporationmaintained,inallmaterialrespects,effectiveinternalcontroloverfinancialreportingasofDecember31,2012,basedon

criteriaestablishedinInternal Control – Integrated Framework issuedbytheCommitteeofSponsoringOrganizationsoftheTreadway

Commission(COSO).TheCorporation’smanagementisresponsibleforthesefinancialstatements,formaintainingeffectiveinternalcontrol

overfinancialreportingandforitsassessmentoftheeffectivenessofinternalcontroloverfinancialreporting,includedintheaccompanying

Management’sReportonInternalControloverFinancialReporting.Ourresponsibilityistoexpressopinionsonthesefinancialstatements

andontheCorporation’sinternalcontroloverfinancialreportingbasedonourintegratedaudits.Weconductedourauditsinaccordance

withthestandardsofthePublicCompanyAccountingOversightBoard(UnitedStates).Thosestandardsrequirethatweplanandperform

theauditstoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatementandwhethereffective

internalcontroloverfinancialreportingwasmaintainedinallmaterialrespects.Ourauditsofthefinancialstatementsincludedexamining,on

atestbasis,evidencesupportingtheamountsanddisclosuresinthefinancialstatements,assessingtheaccountingprinciplesusedand

significantestimatesmadebymanagement,andevaluatingtheoverallfinancialstatementpresentation.Ourauditofinternalcontrolover

financialreportingincludedobtaininganunderstandingofinternalcontroloverfinancialreporting,assessingtheriskthatamaterial

weaknessexists,andtestingandevaluatingthedesignandoperatingeffectivenessofinternalcontrolbasedontheassessedrisk.Ouraudits

alsoincludedperformingsuchotherproceduresasweconsiderednecessaryinthecircumstances.Webelievethatourauditsprovidea

reasonablebasisforouropinions.

Acompany’sinternalcontroloverfinancialreportingisaprocessdesignedtoprovidereasonableassuranceregardingthereliabilityof

financialreportingandthepreparationoffinancialstatementsforexternalpurposesinaccordancewithgenerallyacceptedaccounting

principles.Acompany’sinternalcontroloverfinancialreportingincludesthosepoliciesandproceduresthat(i)pertaintothemaintenanceof

recordsthat,inreasonabledetail,accuratelyandfairlyreflectthetransactionsanddispositionsoftheassetsofthecompany;(ii)provide

reasonableassurancethattransactionsarerecordedasnecessarytopermitpreparationoffinancialstatementsinaccordancewithgenerally

acceptedaccountingprinciples,andthatreceiptsandexpendituresofthecompanyarebeingmadeonlyinaccordancewithauthorizationsof

managementanddirectorsofthecompany;and(iii)providereasonableassuranceregardingpreventionortimelydetectionofunauthorized

acquisition,use,ordispositionofthecompany’sassetsthatcouldhaveamaterialeffectonthefinancialstatements.

Becauseofitsinherentlimitations,internalcontroloverfinancialreportingmaynotpreventordetectmisstatements.Also,projectionsofany

evaluationofeffectivenesstofutureperiodsaresubjecttotheriskthatcontrolsmaybecomeinadequatebecauseofchangesinconditions,

orthatthedegreeofcompliancewiththepoliciesorproceduresmaydeteriorate.

/s/PricewaterhouseCoopersLLP

Dallas,Texas

February27,2013

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CONSOLIDATED STATEMENT OF INCOME

Note

Reference

Number 2012 2011 2010

(millions of dollars)

Revenuesandotherincome

Salesandotheroperatingrevenue(1) 453,123 467,029 370,125

Incomefromequityaffiliates 7 15,010 15,289 10,677

Otherincome 14,162 4,111

Totalrevenuesandotherincome 482,295 486,429 383,221

Costsandotherdeductions

Crudeoilandproductpurchases 265,149 266,534 197,959

Productionandmanufacturingexpenses 38,521 40,268 35,792

Selling,generalandadministrativeexpenses 13,877 14,983 14,683

Depreciationanddepletion 15,888 15,583 14,760

Explorationexpenses,includingdryholes 1,840 2,081

Interestexpense 327 247

Sales-basedtaxes(1) 19 32,409 33,503 28,547

Othertaxesandduties 19 35,558 39,973 36,118

Totalcostsandotherdeductions 403,569 413,172 330,262

Incomebeforeincometaxes 78,726 73,257 52,959

Incometaxes 19 31,045 31,051 21,561

Netincomeincludingnoncontrollinginterests 47,681 42,206 31,398

Netincomeattributabletononcontrollinginterests 2,801 1,146

NetincomeattributabletoExxonMobil 44,880 41,060 30,460

Earningspercommonshare(dollars) 12 9.70 8.43

Earningspercommonshare-assumingdilution(dollars) 12 9.70 8.42

(1) Sales and other operating revenue includes sales-based taxes of $32,409 million for 2012, $33,503 million for 2011 and $28,547

million for 2010.

The information in the Notes to Consolidated Financial Statements is an integral part of these statements.

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CONSOLIDATED STATEMENT OF COMPREHENSIVEINCOME

2012 2011 2010

(millions of dollars)

Netincomeincludingnoncontrollinginterests 47,681 42,206 31,398

Othercomprehensiveincome(netofincometaxes)

Foreignexchangetranslationadjustment 920 (867)

Adjustmentforforeignexchangetranslation(gain)/loss

includedinnetincome (4,352) -

Postretirementbenefitsreservesadjustment(excludingamortization) (3,574) (4,907) (1,161)

Amortizationandsettlementofpostretirementbenefitsreserves

adjustmentincludedinnetperiodicbenefitcosts 2,395 1,217

Changeinfairvalueofcashflowhedges - 28

Realized(gain)/lossfromsettledcashflowhedgesincludedinnetincome - (83)

Totalothercomprehensiveincome (4,611) (4,612)

Comprehensiveincomeincludingnoncontrollinginterests 43,070 37,594 32,391

Comprehensiveincomeattributabletononcontrollinginterests 1,251 834

ComprehensiveincomeattributabletoExxonMobil 41,819 36,760 31,098

The information in the Notes to Consolidated Financial Statements is an integral part of these statements.

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CONSOLIDATED BALANCESHEET

Note

Reference Dec. 31 Dec. 31

Number 2012 2011

(millions of dollars)

Assets

Currentassets

Cashandcashequivalents 9,582 12,664

Cashandcashequivalents-restricted 341

Notesandaccountsreceivable,lessestimateddoubtfulamounts 6 34,987 38,642

Inventories

Crudeoil,productsandmerchandise 3 10,836 11,665

Materialsandsupplies 3,706

Othercurrentassets 5,008

Totalcurrentassets 64,460 72,963

Investments,advancesandlong-termreceivables 8 34,718 34,333

Property,plantandequipment,atcost,lessaccumulateddepreciation

anddepletion 9 226,949 214,664

Otherassets,includingintangibles,net 7,668

Totalassets 333,795 331,052

Liabilities

Currentliabilities

Notesandloanspayable 6 3,653

Accountspayableandaccruedliabilities 6 50,728 57,067

Incometaxespayable 9,758 12,727

Totalcurrentliabilities 64,139 77,505

Long-termdebt 14 7,928

Postretirementbenefitsreserves 17 25,267 24,994

Deferredincometaxliabilities 19 37,570 36,618

Long-termobligationstoequitycompanies 3,555

Otherlong-termobligations 23,676 20,061

Totalliabilities 162,135 170,308

Commitmentsandcontingencies 16

Equity

Commonstockwithoutparvalue

(9,000millionsharesauthorized,8,019millionsharesissued) 9,653

Earningsreinvested 365,727 330,939

Accumulatedothercomprehensiveincome (12,184) (9,123)

Commonstockheldintreasury

(3,517millionsharesin2012and3,285millionsharesin2011) (197,333) (176,932)

ExxonMobilshareofequity 165,863 154,396

Noncontrollinginterests 5,797

Totalequity 171,660 160,744

Totalliabilitiesandequity 333,795 331,052

The information in the Notes to Consolidated Financial Statements is an integral part of these statements.

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CONSOLIDATED STATEMENT OF CASHFLOWS

Note

Reference

Number 2012 2011 2010

(millions of dollars)

Cashflowsfromoperatingactivities

Netincomeincludingnoncontrollinginterests 47,681 42,206 31,398

Adjustmentsfornoncashtransactions

Depreciationanddepletion 15,888 15,583 14,760

Deferredincometaxcharges/(credits) 3,142 142 (1,135)

Postretirementbenefitsexpense

inexcessof/(lessthan)netpayments (315) 544

Otherlong-termobligationprovisions

inexcessof/(lessthan)payments 1,643 (151)

Dividendsreceivedgreaterthan/(lessthan)equityincurrent

earningsofequitycompanies (1,157) (273)

Changesinoperationalworkingcapital,excludingcashanddebt

Reduction/(increase)-Notesandaccountsreceivable (1,082) (7,906) (5,863)

-Inventories (1,873) (2,208) (1,148)

-Othercurrentassets (42) 222

Increase/(reduction) -Accountsandotherpayables 3,624 8,880

Net(gain)onassetsales 5 (13,018) (2,842) (1,401)

Allotheritems-net 1,679 1,148

Netcashprovidedbyoperatingactivities 56,170 55,345 48,413

Cashflowsfrominvestingactivities

Additionstoproperty,plantandequipment (34,271) (30,975) (26,871)

Proceedsassociatedwithsalesofsubsidiaries,property,plant

andequipment,andsalesandreturnsofinvestments 5 7,655 11,133

Decrease/(increase)inrestrictedcashandcashequivalents 63 224

Additionalinvestmentsandadvances (972) (3,586) (1,239)

Collectionofadvances 1,924 1,119

Additionstomarketablesecurities - (1,754)

Salesofmarketablesecurities - 1,674

Netcashusedininvestingactivities (25,601) (22,165) (24,204)

Cashflowsfromfinancingactivities

Additionstolong-termdebt 995 702

Reductionsinlong-termdebt (147) (266) (6,224)

Additionstoshort-termdebt 958 1,063

Reductionsinshort-termdebt (4,488) (1,103) (2,436)

Additions/(reductions)indebtwiththreemonthsorlessmaturity (226) 1,561

CashdividendstoExxonMobilshareholders (10,092) (9,020) (8,498)

Cashdividendstononcontrollinginterests (327) (306)

Changesinnoncontrollinginterests 204 (16)

Taxbenefitsrelatedtostock-basedawards 130 260

Commonstockacquired (21,068) (22,055) (13,093)

Commonstocksold 193 924

Netcashusedinfinancingactivities (33,868) (28,256) (26,924)

Effectsofexchangeratechangesoncash 217 (85)

Increase/(decrease)incashandcashequivalents (3,082) 4,839 (2,868)

Cashandcashequivalentsatbeginningofyear 12,664 7,825 10,693

Cashandcashequivalentsatendofyear 9,582 12,664

The information in the Notes to Consolidated Financial Statements is an integral part of these statements.

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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

ExxonMobilShareofEquity

Accumulated Common

Other Stock ExxonMobil NonCommon Earnings Comprehensive Heldin Shareof controlling Total

Stock Reinvested Income Treasury Equity Interests Equity

(millions of dollars)

BalanceasofDecember31,2009 5,503 276,937 (5,461) (166,410) 110,569 4,823 115,392

Amortizationofstock-basedawards 751 - - - 751 -

Taxbenefitsrelatedtostock-basedawards 280 - - - 280 -

Other (683) - - - (683) 10

Netincomefortheyear - 30,460 - - 30,460 938 31,398

Dividends-commonshares - (8,498) - - (8,498) (281) (8,779)

Othercomprehensiveincome - - 638 - 638 355

Acquisitions,atcost - - - (13,093) (13,093) (5) (13,098)

IssuedforXTOmerger 3,520 - - 21,139 24,659 - 24,659

Otherdispositions - - - 1,756 1,756 -

BalanceasofDecember31,2010 9,371 298,899 (4,823) (156,608) 146,839 5,840 152,679

Amortizationofstock-basedawards 742 - - - 742 -

Taxbenefitsrelatedtostock-basedawards 202 - - - 202 -

Other (803) - - - (803) (5)

Netincomefortheyear - 41,060 - - 41,060 1,146 42,206

Dividends-commonshares - (9,020) - - (9,020) (306) (9,326)

Othercomprehensiveincome - - (4,300) - (4,300) (312) (4,612)

Acquisitions,atcost - - - (22,055) (22,055) (15) (22,070)

Dispositions - - - 1,731 1,731 -

BalanceasofDecember31,2011 9,512 330,939 (9,123) (176,932) 154,396 6,348 160,744

Amortizationofstock-basedawards 806 - - - 806 -

Taxbenefitsrelatedtostock-basedawards 178 - - - 178 -

Other (843) - - - (843) (1,441) (2,284)

Netincomefortheyear - 44,880 - - 44,880 2,801 47,681

Dividends-commonshares - (10,092) - - (10,092) (327) (10,419)

Othercomprehensiveincome - - (3,061) - (3,061) (1,550) (4,611)

Acquisitions,atcost - - - (21,068) (21,068) (34) (21,102)

Dispositions - - - 667 667 -

BalanceasofDecember31,2012 9,653 365,727 (12,184) (197,333) 165,863 5,797 171,660

Held in

Common Stock Share Activity Issued Treasury Outstanding

(millions of shares)

BalanceasofDecember31,2009 8,019 (3,292) 4,727

Acquisitions - (199)

IssuedforXTOmerger - 416

Otherdispositions - 35

BalanceasofDecember31,2010 8,019 (3,040) 4,979

Acquisitions - (278)

Dispositions - 33

BalanceasofDecember31,2011 8,019 (3,285) 4,734

Acquisitions - (244)

Dispositions - 12

BalanceasofDecember31,2012 8,019 (3,517) 4,502

The information in the Notes to Consolidated Financial Statements is an integral part of these statements.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Theaccompanyingconsolidatedfinancialstatementsandthesupportingandsupplementalmaterialaretheresponsibilityofthemanagement

ofExxonMobilCorporation.

TheCorporation’sprincipalbusinessisenergy,involvingtheworldwideexploration,production,transportationandsaleofcrudeoiland

naturalgas(Upstream)andthemanufacture,transportationandsaleofpetroleumproducts(Downstream).TheCorporationisalsoamajor

worldwidemanufacturerandmarketerofpetrochemicals(Chemical)andparticipatesinelectricpowergeneration(Upstream).

ThepreparationoffinancialstatementsinconformitywithU.S.GenerallyAcceptedAccountingPrinciples(GAAP)requiresmanagement

tomakeestimatesthataffectthereportedamountsofassets,liabilities,revenuesandexpensesandthedisclosureofcontingentassetsand

liabilities.Actualresultscoulddifferfromtheseestimates.Prioryears’datahasbeenreclassifiedincertaincasestoconformtothe2012

presentationbasis.

1. Summary of Accounting Policies

Principles of Consolidation. TheConsolidatedFinancialStatementsincludetheaccountsofsubsidiariestheCorporationcontrols.They

alsoincludetheCorporation’sshareoftheundividedinterestincertainupstreamassetsandliabilities.

AmountsrepresentingtheCorporation’sinterestinentitiesthatitdoesnotcontrol,butoverwhichitexercisessignificantinfluence,are

includedin“Investments,advancesandlong-termreceivables.”TheCorporation’sshareofthenetincomeofthesecompaniesisincludedin

theConsolidatedStatementofIncomecaption“Incomefromequityaffiliates.”

Majorityownershipisnormallytheindicatorofcontrolthatisthebasisonwhichsubsidiariesareconsolidated.However,certainfactors

mayindicatethatamajority-ownedinvestmentisnotcontrolledandthereforeshouldbeaccountedforusingtheequitymethodof

accounting.Thesefactorsoccurwheretheminorityshareholdersaregrantedbylaworbycontractsubstantiveparticipatingrights.These

includetherighttoapproveoperatingpolicies,expensebudgets,financingandinvestmentplans,andmanagementcompensationand

successionplans.

TheCorporation’sshareofthecumulativeforeignexchangetranslationadjustmentforequitymethodinvestmentsisreportedin

AccumulatedOtherComprehensiveIncome.

Evidenceoflossinvaluethatmightindicateimpairmentofinvestmentsincompaniesaccountedforontheequitymethodisassessedto

determineifsuchevidencerepresentsalossinvalueoftheCorporation’sinvestmentthatisotherthantemporary.Examplesofkey

indicatorsincludeahistoryofoperatinglosses,anegativeearningsandcashflowoutlook,significantdownwardrevisionstooilandgas

reserves,andthefinancialconditionandprospectsfortheinvestee’sbusinesssegmentorgeographicregion.Ifevidenceofanotherthan

temporarylossinfairvaluebelowcarryingamountisdetermined,animpairmentisrecognized.Intheabsenceofmarketpricesforthe

investment,discountedcashflowsareusedtoassessfairvalue.

Revenue Recognition. TheCorporationgenerallysellscrudeoil,naturalgasandpetroleum andchemicalproductsundershort-term

agreementsatprevailingmarketprices.Insomecases(e.g.,naturalgas),productsmaybesoldunderlong-termagreements,withperiodic

priceadjustments.Revenuesarerecognizedwhentheproductsaredelivered,whichoccurswhenthecustomerhastakentitleandhas

assumedtherisksandrewardsofownership,pricesarefixedordeterminableandcollectibilityisreasonablyassured.

RevenuesfromtheproductionofnaturalgaspropertiesinwhichtheCorporationhasaninterestwithotherproducersarerecognizedon

thebasisoftheCorporation’snetworkinginterest.Differencesbetweenactualproductionandnetworkinginterestvolumesarenot

significant.

Purchasesandsalesofinventorywiththesamecounterpartythatareenteredintoincontemplationofoneanotherarecombinedand

recordedasexchangesmeasuredatthebookvalueoftheitemsold.

Sales-BasedTaxes. TheCorporationreportssales,exciseandvalue-addedtaxesonsalestransactionsonagrossbasisintheConsolidated

StatementofIncome(includedinbothrevenuesandcosts).

Derivative Instruments. TheCorporationmakeslimiteduseofderivativeinstruments.TheCorporationdoesnotengageinspeculative

derivativeactivitiesorderivativetradingactivities,nordoesitusederivativeswithleveragedfeatures.WhentheCorporationdoesenterinto

derivativetransactions,itistooffsetexposuresassociatedwithinterestrates,foreigncurrencyexchangeratesandhydrocarbonpricesthat

arisefromexistingassets,liabilitiesandforecastedtransactions.

Thegainsandlossesresultingfromchangesinthefairvalueofderivativesarerecordedinincome.Insomecases,theCorporation

designatesderivativesasfairvaluehedges,inwhichcasethegainsandlossesareoffsetinincomebythegainsandlossesarisingfrom

changesinthefairvalueoftheunderlyinghedgeditem.

Fair Value. Fairvalueisthepricethatwouldbereceivedtosellanassetorpaidtotransferaliabilityinanorderlytransactionbetween

marketparticipants.HierarchyLevels1,2and3aretermsforthepriorityofinputstovaluationtechniquesusedtomeasurefairvalue.

HierarchyLevel1inputsarequotedpricesinactivemarketsforidenticalassetsorliabilities.Hierarchy

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Level2inputsareinputsotherthanquotedpricesincludedwithinLevel1thataredirectlyorindirectlyobservablefortheassetorliability.

HierarchyLevel3inputsareinputsthatarenotobservableinthemarket.

Inventories. Crudeoil,productsandmerchandiseinventoriesarecarriedatthelowerofcurrentmarketvalueorcost(generallydetermined

underthelast-in,first-outmethod–LIFO).Inventorycostsincludeexpendituresandothercharges(includingdepreciation)directlyand

indirectlyincurredinbringingtheinventorytoitsexistingconditionandlocation.Sellingexpensesandgeneralandadministrativeexpenses

arereportedasperiodcostsandexcludedfrominventorycost.Inventoriesofmaterialsandsuppliesarevaluedatcostorless.

Property, Plant and Equipment. Depreciation,depletionandamortization,basedoncostlessestimatedsalvagevalueoftheasset,are

primarilydeterminedundereithertheunit-of-productionmethodorthestraight-linemethod,whichisbasedonestimatedassetservicelife

takingobsolescenceintoconsideration.Maintenanceandrepairs,includingplannedmajormaintenance,areexpensedasincurred.Major

renewalsandimprovementsarecapitalizedandtheassetsreplacedareretired.

Interestcostsincurredtofinanceexpendituresduringtheconstructionphaseofmultiyearprojectsarecapitalizedaspartofthehistorical

costofacquiringtheconstructedassets.Theprojectconstructionphasecommenceswiththedevelopmentofthedetailedengineering

designandendswhentheconstructedassetsarereadyfortheirintendeduse.Capitalizedinterestcostsareincludedinproperty,plantand

equipmentandaredepreciatedovertheservicelifeoftherelatedassets.

TheCorporationusesthe“successfulefforts”methodtoaccountforitsexplorationandproductionactivities.Underthismethod,costs

areaccumulatedonafield-by-fieldbasiswithcertainexploratoryexpendituresandexploratorydryholesbeingexpensedasincurred.Costs

ofproductivewellsanddevelopmentdryholesarecapitalizedandamortizedontheunit-of-productionmethod.

TheCorporationcarriesasanassetexploratorywellcostswhenthewellhasfoundasufficientquantityofreservestojustifyits

completionasaproducingwellandwheretheCorporationismakingsufficientprogressassessingthereservesandtheeconomicand

operatingviabilityoftheproject.Exploratorywellcostsnotmeetingthesecriteriaarechargedtoexpense.Otherexploratoryexpenditures,

includinggeophysicalcostsandannualleaserentals,areexpensedasincurred.

Acquisitioncostsofprovedpropertiesareamortizedusingaunit-of-productionmethod,computedonthebasisoftotalprovedoiland

gasreserves.

Capitalizedexploratorydrillinganddevelopmentcostsassociatedwithproductivedepletableextractivepropertiesareamortizedusing

unit-of-productionratesbasedontheamountofproveddevelopedreservesofoil,gasandothermineralsthatareestimatedtobe

recoverablefromexistingfacilitiesusingcurrentoperatingmethods.

Undertheunit-of-productionmethod,oilandgasvolumesareconsideredproducedoncetheyhavebeenmeasuredthroughmetersat

custodytransferorsalestransactionpointsattheoutletvalveontheleaseorfieldstoragetank.

Productioncostsareexpensedasincurred.Productioninvolvesliftingtheoilandgastothesurfaceandgathering,treating,field

processingandfieldstorageoftheoilandgas.Theproductionfunctionnormallyterminatesattheoutletvalveontheleaseorfield

productionstoragetank.ProductioncostsarethoseincurredtooperateandmaintaintheCorporation’swellsandrelatedequipmentand

facilities.Theybecomepartofthecostofoilandgasproduced.Thesecosts,sometimesreferredtoasliftingcosts,includesuchitemsas

laborcoststooperatethewellsandrelatedequipment;repairandmaintenancecostsonthewellsandequipment;materials,suppliesand

energycostsrequiredtooperatethewellsandrelatedequipment;andadministrativeexpensesrelatedtotheproductionactivity.

ProvedoilandgaspropertiesheldandusedbytheCorporationarereviewedforimpairmentwhenevereventsorchangesin

circumstancesindicatethatthecarryingamountsmaynotberecoverable.Assetsaregroupedatthelowestlevelforwhichthereare

identifiablecashflowsthatarelargelyindependentofthecashflowsofothergroupsofassets.

TheCorporationestimatesthefutureundiscountedcashflowsoftheaffectedpropertiestojudgetherecoverabilityofcarryingamounts.

Cashflowsusedinimpairmentevaluationsaredevelopedusingannuallyupdatedcorporateplaninvestmentevaluationassumptionsfor

crudeoilcommodityprices,refiningandchemicalmarginsandforeigncurrencyexchangerates.Annualvolumesarebasedonfield

productionprofiles,whicharealsoupdatedannually.Pricesfornaturalgasandotherproductsarebasedoncorporateplanassumptions

developedannuallybymajorregionandalsoforinvestmentevaluationpurposes.Cashflowestimatesforimpairmenttestingexclude

derivativeinstruments.

Impairmentanalysesaregenerallybasedonprovedreserves.Whereprobablereservesexist,anappropriatelyrisk-adjustedamountof

thesereservesmaybeincludedintheimpairmentevaluation.Anassetgroupwouldbeimpairediftheundiscountedcashflowswereless

thanitscarryingvalue.Impairmentsaremeasuredbytheamountthecarryingvalueexceedsfairvalue.

Significantunprovedpropertiesareassessedforimpairmentindividually,andvaluationallowancesagainstthecapitalizedcostsare

recordedbasedontheestimatedeconomicchanceofsuccessandthelengthoftimethattheCorporationexpectstoholdtheproperties.

Propertiesthatarenotindividuallysignificantareaggregatedbygroupsandamortizedbasedondevelopmentriskandaverageholding

period.Thevaluationallowancesarereviewedatleastannually.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Gainsonsalesofprovedandunprovedpropertiesareonlyrecognizedwhenthereisneitheruncertaintyabouttherecoveryofcosts

applicabletoanyinterestretainednoranysubstantialobligationforfutureperformancebytheCorporation.

Lossesonpropertiessoldarerecognizedwhenincurredorwhenthepropertiesareheldforsaleandthefairvalueofthepropertiesisless

thanthecarryingvalue.

Asset Retirement Obligations and Environmental Liabilities. TheCorporationincursretirementobligationsforcertainassets.Thefair

valuesoftheseobligationsarerecordedasliabilitiesonadiscountedbasis,whichistypicallyatthetimetheassetsareinstalled.Thecosts

associatedwiththeseliabilitiesarecapitalizedaspartoftherelatedassetsanddepreciated.Overtime,theliabilitiesareaccretedforthe

changeintheirpresentvalue.

Liabilitiesforenvironmentalcostsarerecordedwhenitisprobablethatobligationshavebeenincurredandtheamountscanbe

reasonablyestimated.Theseliabilitiesarenotreducedbypossiblerecoveriesfromthirdpartiesandprojectedcashexpendituresarenot

discounted.

Foreign Currency Translation. TheCorporationselectsthefunctionalreportingcurrencyforitsinternationalsubsidiariesbasedonthe

currencyoftheprimaryeconomicenvironmentinwhicheachsubsidiaryoperates.

DownstreamandChemicaloperationsprimarilyusethelocalcurrency.However,theU.S.dollarisusedincountrieswithahistoryofhigh

inflation(primarilyinLatinAmerica)andSingapore,whichpredominantlysellsintotheU.S.dollarexportmarket.Upstreamoperationswhich

arerelativelyself-containedandintegratedwithinaparticularcountry,suchasCanada,theUnitedKingdom,Norwayandcontinental

Europe,usethelocalcurrency.SomeUpstreamoperations,primarilyinAsiaandAfrica,usetheU.S.dollarbecausetheypredominantlysell

crudeandnaturalgasproductionintoU.S.dollar-denominatedmarkets.

Foralloperations,gainsorlossesfromremeasuringforeigncurrencytransactionsintothefunctionalcurrencyareincludedinincome.

Stock-BasedPayments. TheCorporationawardsstock-basedcompensationtoemployeesintheformofrestrictedstockandrestrictedstock

units.Compensationexpenseismeasuredbythemarketpriceoftherestrictedsharesatthedateofgrantandisrecognizedintheincome

statementovertherequisiteserviceperiodofeachaward.SeeNote15,IncentiveProgram,forfurtherdetails.

2. Accounting Changes

TheCorporationdidnotadoptauthoritativeguidancein2012thathadamaterialimpactontheCorporation’sfinancialstatements.

3. Miscellaneous Financial Information

Researchanddevelopmentexpensestotaled$1,042millionin2012,$1,044millionin2011and$1,012millionin2010.

Netincomeincludedbefore-taxaggregateforeignexchangetransactiongainsof$159million,andlossesof$184millionand$251millionin

2012,2011and2010,respectively.

In2012,2011and2010,netincomeincludedgainsof$328million,$292millionand$317million,respectively,attributabletothecombined

effectsofLIFOinventoryaccumulationsanddrawdowns.TheaggregatereplacementcostofinventorieswasestimatedtoexceedtheirLIFO

carryingvaluesby$21.3billionand$25.6billionatDecember31,2012,and2011,respectively.

Crudeoil,productsandmerchandiseasofyear-end2012and2011consistofthefollowing:

2012

(billions of dollars)

Petroleumproducts 3.6

Crudeoil 4.0

Chemicalproducts 2.9

Gas/other 0.3

Total 10.8

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

4. Other Comprehensive Income Information

Cumulative Post- Unrealized

Foreign retirement Change in

Exchange Benefits Fair Value

ExxonMobil Share of AccumulatedOther Translation Reserves on Cash

Comprehensive Income Adjustment Adjustment Flow Hedges Total

(millions of dollars)

BalanceasofDecember31,2009 4,402 (9,863) - (5,461)

Currentperiodchangeexcludingamountsreclassified

fromaccumulatedothercomprehensiveincome 584 (1,014) 184 (246)

Amountsreclassifiedfromaccumulatedother

comprehensiveincome 25 988 (129) 884

Totalchangeinaccumulatedothercomprehensiveincome 609 (26) 55 638

BalanceasofDecember31,2010 5,011 (9,889) 55 (4,823)

BalanceasofDecember31,2010 5,011 (9,889) 55 (4,823)

Currentperiodchangeexcludingamountsreclassified

fromaccumulatedothercomprehensiveincome (843) (4,557) 28 (5,372)

Amountsreclassifiedfromaccumulatedother

comprehensiveincome - 1,155 (83) 1,072

Totalchangeinaccumulatedothercomprehensiveincome (843) (3,402) (55) (4,300)

BalanceasofDecember31,2011 4,168 (13,291) - (9,123)

BalanceasofDecember31,2011 4,168 (13,291) - (9,123)

Currentperiodchangeexcludingamountsreclassified

fromaccumulatedothercomprehensiveincome 842 (3,402) - (2,560)

Amountsreclassifiedfromaccumulatedother

comprehensiveincome (2,600) 2,099 - (501)

Totalchangeinaccumulatedothercomprehensiveincome (1,758) (1,303) - (3,061)

BalanceasofDecember31,2012 2,410 (14,594) - (12,184)

Income Tax (Expense)/Credit For

Components of Other Comprehensive Income 2012 2011 2010

(millions of dollars)

Foreignexchangetranslationadjustment (236) 89

Postretirementbenefitsreservesadjustment

Postretirementbenefitsreservesadjustment(excludingamortization) 1,619 2,039

Amortizationandsettlementofpostretirementbenefitsreserves

adjustmentincludedinnetperiodicbenefitcosts (1,226) (544)

Unrealizedchangeinfairvalueoncashflowhedges

Changeinfairvalueofcashflowhedges - (16)

Settledcashflowhedgesincludedinnetincome - 50

Total 157 1,618

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

5. Cash FlowInformation

TheConsolidatedStatementofCashFlowsprovidesinformationaboutchangesincashandcashequivalents.Highlyliquidinvestments

withmaturitiesofthreemonthsorlesswhenacquiredareclassifiedascashequivalents.

The“Net(gain)onassetsales”innetcashprovidedbyoperatingactivitiesontheConsolidatedStatementofCashFlowsincludes

before-taxgainsfromtheJapanrestructuring,thesaleofanUpstreampropertyinAngola,exchangesofUpstream properties,thesaleof

U.S.servicestations,andthesaleoftheDownstreamaffiliatesinMalaysiaandSwitzerlandin2012;fromthesaleofsomeUpstream

Canadian,U.K.andotherproducingpropertiesandassets,andthesaleofU.S.servicestationsin2011;andfromthesaleofsomeUpstream

GulfofMexicoandotherproducingproperties,thesaleofU.S.servicestationsandotherDownstreamassetsandinvestmentsandthe

formationofaChemicaljointventurein2010.Thesegainsarereportedin“Otherincome”ontheConsolidatedStatementofIncome.

In2012,theCorporation’sinterestinacostcompanywasredeemed.Aspartoftheredemption,avariablenoteduein2035issuedby

MobilServices(Bahamas)Ltd.wasassignedtoaconsolidatedExxonMobilaffiliate.Thisnoteisnolongerclassifiedasthirdpartylong-term

debt.Thisassignmentdidnotresultina“Reductioninlong-termdebt”ontheStatementofCashFlows.

In2012,ExxonMobilcompletedassetexchanges,primarilynoncashtransactions,ofapproximately$1billion.Thisamountisnotincluded

inthe“Salesofsubsidiaries,investments,andproperty,plantandequipment”orthe“Additionstoproperty,plantandequipment”lineson

theStatementofCashFlows.

In2011,includedin“Proceedsassociatedwithsalesofsubsidiaries,property,plantandequipment,andsalesandreturnsof

investments”isa$3.6billiondepositforanassetthatwassoldin2012.

In2010,theCorporationacquiredalltheoutstandingequityofXTOEnergyInc.inanall-stocktransactionvaluedat$24,659million.

2012 2011 2010

(millions of dollars)

Cashpaymentsforinterest 555 557

Cashpaymentsforincometaxes 24,349 27,254 18,941

6. Additional Working Capital Information

Dec. 31 Dec. 31

2012 2011

(millions of dollars)

Notesandaccountsreceivable

Trade,lessreservesof$109millionand$128million 28,373 30,044

Other,lessreservesof$36millionand$39million 6,614

Total 34,987 38,642

Notesandloanspayable

Bankloans 663

Commercialpaper 1,963

Long-termdebtduewithinoneyear 1,025

Other 2

Total 3,653

Accountspayableandaccruedliabilities

Tradepayables 33,789 33,969

Payablestoequitycompanies 6,114

Accruedtaxesotherthanincometaxes 4,130

Other 6,695 10,422

Total 50,728 57,067

OnDecember31,2012,unusedcreditlinesforshort-termfinancingtotaledapproximately$3.5billion.Ofthistotal,$3.0billionsupports

commercialpaperprogramsundertermsnegotiatedwhendrawn.Theweighted-averageinterestrateonshort-termborrowingsoutstanding

atDecember31,2012,and2011,was1.7percentand1.9percent,respectively.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

7. Equity Company Information

Thesummarizedfinancialinformationbelowincludesamountsrelatedtocertainless-than-majority-ownedcompaniesandmajority-owned

subsidiarieswhereminorityshareholderspossesstherighttoparticipateinsignificantmanagementdecisions(seeNote1).Thesecompanies

areprimarilyengagedincrudeproduction,naturalgasproduction,naturalgasmarketingandrefiningoperationsinNorthAmerica;natural

gasproduction,naturalgasdistributionanddownstreamoperationsinEurope;refiningoperations,petrochemicalmanufacturing,fuelsales

andpowergenerationinAsia;crudeproductioninKazakhstan;andliquefiednaturalgas(LNG)operationsinQatar.Alsoincludedare

severalrefining,petrochemicalmanufacturingandchemicalventures.TheCorporation’sownershipintheseventuresisintheformofshares

incorporatejointventuresaswellasinterestsinpartnerships.Differencesbetweenthecompany’scarryingvalueofanequityinvestment

anditsunderlyingequityinthenetassetsoftheaffiliateareassignedtotheextentpracticabletospecificassetsandliabilitiesbasedonthe

company’sanalysisofthefactorsgivingrisetothedifference.Theamortizationofthisdifference,asappropriate,isincludedin“income

fromequityaffiliates.”TheshareoftotalequitycompanyrevenuesfromsalestoExxonMobilconsolidatedcompanieswas16percent,19

percentand18percentintheyears2012,2011and2010,respectively.

2012 2011 2010

Equity Company ExxonMobil ExxonMobil ExxonMobil

Financial Summary Total Share Total Share Total Share

(millions of dollars)

Totalrevenues 224,953 67,572 204,635 65,147 153,020 48,355

Incomebeforeincometaxes 69,411 20,882 68,908 20,892 48,075 14,735

Incometaxes 20,703 5,868 19,812 5,603 13,962

Incomefromequityaffiliates 48,708 15,014 49,096 15,289 34,113 10,677

Currentassets 59,612 18,483 52,879 17,317 48,573 15,860

Long-termassets 111,131 33,798 96,908 30,833 90,646 29,805

Totalassets 170,743 52,281 149,787 48,150 139,219 45,665

Currentliabilities 49,698 14,265 41,016 12,454 33,160 10,260

Long-termliabilities 68,855 19,715 62,472 18,728 59,596 17,976

Netassets 52,190 18,301 46,299 16,968 46,463 17,429

AlistofsignificantequitycompaniesasofDecember31,2012,togetherwiththeCorporation’spercentageownershipinterest,isdetailed

below:

Percentage Percentage

Ownership Ownership

Interest Interest

Upstream Downstream

AeraEnergyLLC 48 ChalmetteRefining,LLC 50

BEBErdgasundErdoelGmbH&Co.KG 50 FujianRefining&PetrochemicalCo.Ltd. 25

CameroonOilTransportationCompanyS.A. 41 SaudiAramcoMobilRefineryCompanyLtd. 50

CastlePeakPowerCompanyLimited 60 TonenGeneralSekiyuK.K. 22

CrossTimbersEnergy,LLC 50

GoldenPassLNGTerminalLLC 18 Chemical

NederlandseAardolieMaatschappijB.V. 50 Al-JubailPetrochemicalCompany 50

QatarLiquefiedGasCompanyLimited 10 InfineumHoldingsB.V. 50

QatarLiquefiedGasCompanyLimited(2) 24 SaudiYanbuPetrochemicalCo. 50

RasLaffanLiquefiedNaturalGasCompanyLimited 25

RasLaffanLiquefiedNaturalGasCompanyLimited(II) 31

RasLaffanLiquefiedNaturalGasCompanyLimited(3) 30

SouthHookLNGTerminalCompanyLimited 24

Tengizchevroil,LLP 25

TerminaleGNLAdriaticoS.r.l. 71

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

8. Investments, Advances andLong-Term Receivables

Dec. 31, Dec. 31,

2012 2011

(millions of dollars)

Companiescarriedatequityinunderlyingassets

Investments 18,530 16,968

Advances 9,959

Totalequitycompanyinvestmentsandadvances 28,489 26,708

Companiescarriedatcostorlessandstockinvestmentscarriedatfairvalue 437

Long-termreceivablesandmiscellaneousinvestmentsatcostorless,netofreserves

of$2,499millionand$469million 5,792

Total 34,718 34,333

9. Property, Plant andEquipment andAsset Retirement Obligations

December 31, 2012 December 31, 2011

Property, Plant andEquipment Cost Net Cost Net

(millions of dollars)

Upstream 313,181 181,795 283,710 163,975

Downstream 53,737 23,053 67,900 28,801

Chemical 29,437 14,085 30,405 14,469

Other 12,959 8,016 11,980

Total 409,314 226,949 393,995 214,664

IntheUpstreamsegment,depreciationisgenerallyonaunit-of-productionbasis,sodepreciablelifewillvarybyfield.IntheDownstream

segment,investmentsinrefineryandlubesbasestockmanufacturingfacilitiesaregenerallydepreciatedonastraight-linebasisovera25-

yearlifeandservicestationbuildingsandfixedimprovementsovera20-yearlife.IntheChemicalsegment,investmentsinprocessequipment

aregenerallydepreciatedonastraight-linebasisovera20-yearlife.

Accumulateddepreciationanddepletiontotaled$182,365millionattheendof2012and$179,331millionattheendof2011.Interest

capitalizedin2012,2011and2010was$506million,$593millionand$532million,respectively.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Asset Retirement Obligations

TheCorporationincursretirementobligationsforcertainassets.Thefairvaluesoftheseobligationsarerecordedasliabilitiesona

discountedbasis,whichistypicallyatthetimetheassetsareinstalled.Intheestimationoffairvalue,theCorporationusesassumptionsand

judgmentsregardingsuchfactorsastheexistenceofalegalobligationforanassetretirementobligation;technicalassessmentsofthe

assets;estimatedamountsandtimingofsettlements;discountrates;andinflationrates.Assetretirementobligationsincurredinthecurrent

periodwereLevel3(unobservableinputs)fairvaluemeasurements.Thecostsassociatedwiththeseliabilitiesarecapitalizedaspartofthe

relatedassetsanddepreciatedasthereservesareproduced.Overtime,theliabilitiesareaccretedforthechangeintheirpresentvalue.

Assetretirementobligationsfordownstreamandchemicalfacilitiesgenerallybecomefirmatthetimethefacilitiesarepermanentlyshut

downanddismantled.Theseobligationsmayincludethecostsofassetdisposalandadditionalsoilremediation.However,thesesiteshave

indeterminatelivesbasedonplansforcontinuedoperationsandassuch,thefairvalueoftheconditionallegalobligationscannotbe

measured,sinceitisimpossibletoestimatethefuturesettlementdatesofsuchobligations.

Thefollowingtablesummarizestheactivityintheliabilityforassetretirementobligations:

2012

(millions of dollars)

Beginningbalance 10,578

Accretionexpenseandotherprovisions 709

Reductionduetopropertysales (176)

Paymentsmade (816)

Liabilitiesincurred 163

Foreigncurrencytranslation 290

Revisions 1,225

Endingbalance 11,973 10,578

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

10. Accounting for SuspendedExploratory Well Costs

TheCorporationcontinuescapitalizationofexploratorywellcostswhenthewellhasfoundasufficientquantityofreservestojustifyits

completionasaproducingwellandtheCorporationismakingsufficientprogressassessingthereservesandtheeconomicandoperating

viabilityoftheproject.Theterm“project”asusedinthisreportdoesnotnecessarilyhavethesamemeaningasunderSECRule13q-1

relatingtogovernmentpaymentreporting.Forexample,asingleprojectforpurposesoftherulemayencompassnumerousproperties,

agreements,investments,developments,phases,workefforts,activities,andcomponents,eachofwhichwemayalsoinformallydescribeas

a“project.”

Thefollowingtwotablesprovidedetailsofthechangesinthebalanceofsuspendedexploratorywellcostsaswellasanagingsummary

ofthosecosts.

Changeincapitalizedsuspendedexploratorywellcosts:

2012 2011

(millions of dollars)

BalancebeginningatJanuary1 2,881 2,893

Additionspendingthedeterminationofprovedreserves 868 310

Chargedtoexpense (95) (213)

Reclassificationstowells,facilitiesandequipmentbasedonthe

determinationofprovedreserves (631) (149)

Divestments/Other (344) 40

EndingbalanceatDecember31 2,679 2,881

Endingbalanceattributedtoequitycompaniesincludedabove 3 -

Periodendcapitalizedsuspendedexploratorywellcosts:

2012 2011

(millions of dollars)

Capitalizedforaperiodofoneyearorless 866 310

Capitalizedforaperiodofbetweenoneandfiveyears 1,176 1,922

Capitalizedforaperiodofbetweenfiveandtenyears 401 409

Capitalizedforaperiodofgreaterthantenyears 236 240

Capitalizedforaperiodgreaterthanoneyear-subtotal 1,813 2,571

Total 2,679 2,881

Explorationactivityofteninvolvesdrillingmultiplewells,overanumberofyears,tofullyevaluateaproject.Thetablebelowprovidesa

numericalbreakdownofthenumberofprojectswithsuspendedexploratorywellcostswhichhadtheirfirstcapitalizedwelldrilledinthe

preceding12monthsandthosethathavehadexploratorywellcostscapitalizedforaperiodgreaterthan12months.

2012 2011

Numberofprojectswithfirstcapitalizedwelldrilledinthepreceding12months 10 4

Numberofprojectsthathaveexploratorywellcostscapitalizedforaperiod

ofgreaterthan12months 45 58

Total 55 62

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Ofthe45projectsthathaveexploratorywellcostscapitalizedforaperiodgreaterthan12monthsasofDecember31,2012,17projectshave

drillinginthepreceding12monthsorexploratoryactivityplannedinthenexttwoyears,whiletheremaining28projectsarethosewith

completedexploratoryactivityprogressingtowarddevelopment.Thetablebelowprovidesadditionaldetailforthose28projects,whichtotal

$557million.

Years

Dec.31, Wells

Country/Project 2012 Drilled Comment

(millions of dollars)

Angola

-Perpetua-Zina-Acacia 15 2008-2009 OilfieldnearPazflordevelopment,awaitingcapacityinexisting/planned

infrastructure.

Australia

-EastPilchard 10 2001 GasfieldnearKipper/Tunadevelopment,awaitingcapacityinexisting/planned

infrastructure.

-SELongtom 16 2010 GasfieldnearTunadevelopment,awaitingcapacityinexisting/plannedinfrastructure.

Indonesia

-Natuna 118 1981-1983 Developmentactivityunderway,whilecontinuingdiscussionswiththegovernment

oncontracttermspursuanttoexecutedHeadsofAgreement.

Kazakhstan

-Kairan 53 2004-2007 Evaluatingcommercializationandfielddevelopmentalternatives,whilecontinuing

discussionswiththegovernmentregardingthedevelopmentplan.

Malaysia

-Besar 18 1992-2010 GasfieldofftheeastcoastofMalaysia;progressingdevelopmentplan.

-Bindu 2 1995 Awaitingcapacityinexisting/plannedinfrastructure.

Nigeria

-Bolia 15 2002-2006 Evaluatingdevelopmentplan,whilecontinuingdiscussionswiththegovernment

regardingregionalhubstrategy.

-Bosi 79 2002-2006 Developmentactivityunderway,whilecontinuingdiscussionswiththegovernment

regardingdevelopmentplan.

-BosiCentral 16 2006 Developmentactivityunderway,whilecontinuingdiscussionswiththegovernment

regardingdevelopmentplan.

-Pegi 32 2009 Awaitingcapacityinexisting/plannedinfrastructure.

-UsanSouthStrip 16 2011 Evaluatingdevelopmentplanstotieintoplannedinfrastructure.

-Other(5projects) 16 2001-2002 Evaluatingandpursuingdevelopmentofseveraladditionaldiscoveries.

Norway

-Gamma 21 2008-2009 Evaluatingdevelopmentplanfortiebacktoexistingproductionfacilities.

-H-North 16 2007 Progressingdevelopmentandcommercializationplans.

-Lavrans 24 1995-1999 DevelopmentawaitingcapacityinexistingKristinproductionfacility;evaluating

developmentconceptsforphasedullagescenarios.

-Other(5projects) 23 2008-2010 Evaluatingdevelopmentplans,includingpotentialfortiebacktoexistingproduction

facilities.

PapuaNewGuinea

-Juha 28 2007 WorkingondevelopmentplanstotieintoplannedLNGfacilities.

UnitedKingdom

-Phyllis 8 2004 Evaluatingdevelopmentplanfortiebacktoexistingproductionfacilities.

UnitedStates

-TipTop 31 2009 Evaluatingdevelopmentconceptandrequisitefacilityupgrades.

Total2012(28projects) 557

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

11. LeasedFacilities

AtDecember31,2012,theCorporationanditsconsolidatedsubsidiariesheldnoncancelableoperatingchartersandleasescoveringdrilling

equipment,tankers,servicestationsandotherpropertieswithminimumundiscountedleasecommitmentstotaling$8,181millionasindicated

inthetable.Estimatedrelatedrentalincomefromnoncancelablesubleasesis$111million.

Related

Lease Payments Sublease

Under Minimum Rental

Commitments Income

(millions of dollars)

2013 2,254 33

2014 2,041 31

2015 1,381 26

2016 688 4

2017 350 3

2018andbeyond 1,467 14

Total 8,181 111

Netrentalcostunderbothcancelableandnoncancelableoperatingleasesincurredduring2012,2011and2010wereasfollows:

2012 2011

(millions of dollars)

Rentalcost 3,851 4,061

Lesssubleaserentalincome 44 74

Netrentalcost 3,807 3,987

12. Earnings Per Share

2012 2011

Earnings per common share

NetincomeattributabletoExxonMobil(millions of dollars) 44,880 41,060 30,460

Weightedaveragenumberofcommonsharesoutstanding(millions of shares) 4,628 4,870

Earningspercommonshare(dollars) 9.70 8.43

Earnings per common share - assuming dilution

NetincomeattributabletoExxonMobil(millions of dollars) 44,880 41,060 30,460

Weightedaveragenumberofcommonsharesoutstanding(millions of shares) 4,628 4,870

Effectofemployeestock-basedawards - 5

Weightedaveragenumberofcommonsharesoutstanding-assumingdilution 4,628 4,875

Earningspercommonshare-assumingdilution(dollars) 9.70 8.42

Dividendspaidpercommonshare(dollars) 2.18 1.85

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

13. Financial Instruments andDerivatives

Financial Instruments. Thefairvalueoffinancialinstrumentsisdeterminedbyreferencetoobservablemarketdataandothervaluation

techniquesasappropriate.Theonlycategoryoffinancialinstrumentswherethedifferencebetweenfairvalueandrecordedbookvalueis

notableislong-termdebt.Theestimatedfairvalueoftotallong-termdebt,includingcapitalizedleaseobligations,was$8.5billionand$9.8

billionatDecember31,2012,and2011,respectively,ascomparedtorecordedbookvaluesof$7.9billionand$9.3billionatDecember31,

2012,and2011,respectively.Thefairvalueoflong-termdebtbyhierarchylevelatDecember31,2012isshownbelow:

As of December 31, 2012

Level 1 Level 2 Level 3

(millions of dollars)

Long-termdebtfairvalue 6,482 1,480 496

Thefairvaluehierarchyforlong-termdebtisprimarilyLevel1andrepresentsquotedpricesinactivemarkets.Level2includesdebtwhose

fairvalueisbaseduponapubliclyavailableindex.TheLevel3amountisprimarilycapitalizedleaseswhosevalueistypicallydetermined

throughtheuseofpresentvalueandspecificcontractterms.

Derivative Instruments. TheCorporation’ssize,strongcapitalstructure,geographicdiversityandthecomplementarynatureofthe

Upstream,DownstreamandChemicalbusinessesreducetheCorporation’senterprise-wideriskfromchangesininterestrates,currencyrates

andcommodityprices.Asaresult,theCorporationmakeslimiteduseofderivativestomitigatetheimpactofsuchchanges.TheCorporation

doesnotengageinspeculativederivativeactivitiesorderivativetradingactivitiesnordoesitusederivativeswithleveragedfeatures.When

theCorporationdoesenterintoderivativetransactions,itistooffsetexposuresassociatedwithinterestrates,foreigncurrencyexchange

ratesandhydrocarbonpricesthatarisefromexistingassets,liabilitiesandforecastedtransactions.

Theestimatedfairvalueofderivativeinstrumentsoutstandingandrecordedonthebalancesheetwasanetassetof$2millionatyear-end

2012andanetliabilityof$3millionatyear-end2011.Assetsandliabilitiesassociatedwithderivativesareusuallyrecordedeitherin“Other

currentassets”or“Accountspayableandaccruedliabilities.”

TheCorporation’sfairvaluemeasurementofitsderivativeinstrumentsuseeitherLevel1(observablequotedpricesonactiveexchanges)

orLevel2(derivativesthataredeterminedbyeithermarketpricesonanactivemarketforsimilarassetsorbypricesquotedbyabrokeror

othermarket-corroboratedprices)inputs.

TheCorporationrecognizedabefore-taxgainor(loss)relatedtoderivativeinstrumentsof$(23)million,$131millionand$221million

during2012,2011and2010,respectively.Incomestatementeffectsassociatedwithderivativesareusuallyrecordedeitherin“Salesandother

operatingrevenue”or“Crudeoilandproductpurchases.”

TheCorporationbelievestherearenomaterialmarketorcreditriskstotheCorporation’sfinancialposition,resultsofoperationsor

liquidityasaresultofthederivativeactivitiesdescribedabove.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

14. Long-Term Debt

AtDecember31,2012,long-termdebtconsistedof$7,325milliondueinU.S.dollarsand$603millionrepresentingtheU.S.dollarequivalent

atyear-endexchangeratesofamountspayableinforeigncurrencies.Theseamountsexcludethatportionoflong-termdebt,totaling$1,025

million,whichmatureswithinoneyearandisincludedincurrentliabilities.Theamountsoflong-termdebtmaturingineachofthefouryears

afterDecember31,2013,inmillionsofdollars,are:2014–$907;2015–$710; 2016–$454;and2017–$814.AtDecember31,2012,the

Corporation’sunusedlong-termcreditlineswerenotmaterial.

Summarizedlong-termdebtatyear-end2012and2011areshowninthetablebelow:

2012 2011

(millions of dollars)

XTOEnergyInc.(1)

6.250%seniornotedue2013 - 185

4.625%seniornotedue2013 - 145

5.750%seniornotedue2013 - 346

4.900%seniornotedue2014 254 260

5.000%seniornotedue2015 135 138

5.300%seniornotedue2015 249 255

5.650%seniornotedue2016 217 222

6.250%seniornotedue2017 501 513

5.500%seniornotedue2018 396 402

6.500%seniornotedue2018 495 506

6.100%seniornotedue2036 201 203

6.750%seniornotedue2037 314 317

6.375%seniornotedue2038 240 241

MobilServices(Bahamas)Ltd.

Variablenotedue2035(2) - 972

Variablenotedue2034(3) 311 311

MobilProducingNigeriaUnlimited(4)

Variablenotesdue2013-2019 751 543

Esso(Thailand)PublicCompanyLtd.(5)

Variablenotesdue2014-2017 414 413

MobilCorporation

8.625%debenturesdue2021 249 248

Industrialrevenuebondsdue2014-2051(6) 2,690 2,315

OtherU.S.dollarobligations(7) 74 496

Otherforeigncurrencyobligations 6 31

Capitalizedleaseobligations(8) 431 260

Totallong-termdebt 7,928 9,322

(1) Includes premiums of $326 million.

(2) Average ef ective interest rate of 0.2% in 2011.

(3) Average ef ective interest rate of 0.5% in 2012 and 0.3% in 2011.

(4) Average ef ective interest rate of 4.6% in 2012 and 4.2% in 2011.

(5) Average ef ective interest rate of 3.5% in 2012 and 3.2% in 2011.

(6) Average ef ective interest rate of 0.1% in 2012 and 0.1% in 2011.

(7) Average ef ective interest rate of 2.7% in 2012 and 4.8% in 2011.

(8) Average imputed interest rate of 7.6% in 2012 and 8.5% in 2011.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

15. Incentive Program

The2003IncentiveProgramprovidesforgrantsofstockoptions,stockappreciationrights(SARs),restrictedstockandotherformsof

award.AwardsmaybegrantedtoeligibleemployeesoftheCorporationandthoseaffiliatesatleast50percentowned.Outstandingawards

aresubjecttocertainforfeitureprovisionscontainedintheprogramorawardinstrument.OptionsandSARsmaybegrantedatpricesnot

lessthan100percentofmarketvalueonthedateofgrantandhaveamaximumlifeof10years.Themaximumnumberofsharesofstockthat

maybeissuedunderthe2003IncentiveProgramis220million.Awardsthatareforfeited,expireoraresettledincash,donotcountagainst

thismaximumlimit.The2003IncentiveProgramdoesnothaveaspecifiedterm.Newawardsmaybemadeuntiltheavailablesharesare

depleted,unlesstheBoardterminatestheplanearly.Attheendof2012,remainingsharesavailableforawardunderthe2003Incentive

Programwere124,736thousand.

Restricted Stock. Awardstotaling10,017thousand,10,533thousand,and10,648thousand(excludingXTOmerger-relatedgrants)of

restricted(nonvested)commonstockandrestricted(nonvested)commonstockunitsweregrantedin2012,2011and2010,respectively.

Compensationexpensefortheseawardsisbasedonthepriceofthestockatthedateofgrantandisrecognizedinincomeovertherequisite

serviceperiod.Thesesharesareissuedtoemployeesfromtreasurystock.Theunitsthataresettledincasharerecordedasliabilitiesand

theirchangesinfairvaluearerecognizedoverthevestingperiod.Duringtheapplicablerestrictedperiods,thesharesmaynotbesoldor

transferredandaresubjecttoforfeiture.Themajorityoftheawardshavegradedvestingperiods,with50percentofthesharesineachaward

vestingafterthreeyearsandtheremaining50percentvestingaftersevenyears.Awardsgrantedtoasmallnumberofseniorexecutiveshave

vestingperiodsoffiveyearsfor50percentoftheawardandof10yearsorretirement,whicheveroccurslater,fortheremaining50percentof

theaward.

Additionally,in2010long-termincentiveawardstotaling4,206thousandsharesofrestricted(nonvested)commonstock,withavalueof

$250million,weregrantedinassociationwiththeXTOmerger.Themajorityoftheseawardsvestoverperiodsofuptothreeyearsafterthe

initialgrant.

TheCorporationhaspurchasedsharesintheopenmarketandthroughnegotiatedtransactionstooffsetsharesissuedinconjunction

withbenefitplansandprograms.Purchasesmaybediscontinuedatanytimewithoutpriornotice.

ThefollowingtablessummarizeinformationaboutrestrictedstockandrestrictedstockunitsfortheyearendedDecember31,2012.

2012

Weighted Average

Grant-Date

Restrictedstock andunits outstanding Shares Fair Value per Share

(thousands) (dollars)

IssuedandoutstandingatJanuary1 46,781 70.76

2011awardissuedin2012 10,522 79.52

Vested (10,537) 65.56

Forfeited (315) 68.50

IssuedandoutstandingatDecember31 46,451 73.94

Value of restrictedstock andunits 2012 2011

Grantprice(dollars) 87.24 79.52

Valueatdateofgrant: (millions of dollars)

Restrictedstockandunitssettledinstock 797 766

Merger-relatedgrantedandconvertedXTOawards - -

Unitssettledincash 77 72

Totalvalue 874 838

AsofDecember31,2012,therewas$2,179millionofunrecognizedcompensationcostrelatedtothenonvestedrestrictedawards.This

costisexpectedtoberecognizedoveraweighted-averageperiodof4.5years.Thecompensationcostchargedagainstincomeforthe

restrictedstockandrestrictedunitswas$854million,$793millionand$801millionfor2012,2011and2010,respectively.Theincome

taxbenefitrecognizedinincomerelatedtothiscompensationexpensewas$79million,$73millionand$81millionforthesameperiods,

respectively.Thefairvalueofsharesandunitsvestedin2012,2011and2010was$926million,$801millionand$718million,respectively.

Cashpaymentsof$66million,$46millionand$42millionforvestedrestrictedstockunitssettledincashweremadein2012,2011and2010,

respectively.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Stock Options. TheCorporationhasnotgrantedanystockoptionsunderthe2003IncentiveProgramandallstockoptionsgrantedunder

thepriorprogramwereexercisedbytheendof2011.In2010,theCorporationgranted12,393thousandofconvertedXTOstockoptionswith

agrant-datefairvalueof$182millionasaresultoftheXTOmerger.Thesestockoptionsgenerallyvestandbecomeexercisableratablyover

athree-yearperiod,andmayincludeaprovisionforacceleratedvestingwhenthecommonstockpricereachesspecifiedlevels.Somestock

optiontranchesvestonlywhenthecommonstockpricereachesspecifiedlevels.Therewere2,355thousandstockoptions,withanaverage

exercisepriceof$78.60,outstandingatDecember31,2012.

Cashreceivedfromstockoptionexerciseswas$193million,$924millionand$1,043millionfor2012,2011and2010,respectively.Thecash

taxbenefitrealizedfortheoptionsexercisedwas$54million,$221millionand$89millionfor2012,2011and2010,respectively.Theaggregate

intrinsicvalueofstockoptionsexercisedin2012,2011and2010was$79million,$986millionand$539million,respectively.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

16. Litigation andOther Contingencies

Litigation. AvarietyofclaimshavebeenmadeagainstExxonMobilandcertainofitsconsolidatedsubsidiariesinanumberofpending

lawsuits.Managementhasregularlitigationreviews,includingupdatesfrom corporateandoutsidecounsel,toassesstheneedfor

accountingrecognitionordisclosureofthesecontingencies.TheCorporationaccruesanundiscountedliabilityforthosecontingencies

wheretheincurrenceofalossisprobableandtheamountcanbereasonablyestimated.Ifarangeofamountscanbereasonablyestimated

andnoamountwithintherangeisabetterestimatethananyotheramount,thentheminimumoftherangeisaccrued.TheCorporationdoes

notrecordliabilitieswhenthelikelihoodthattheliabilityhasbeenincurredisprobablebuttheamountcannotbereasonablyestimatedor

whentheliabilityisbelievedtobeonlyreasonablypossibleorremote.Forcontingencieswhereanunfavorableoutcomeisreasonably

possibleandwhicharesignificant,theCorporationdisclosesthenatureofthecontingencyand,wherefeasible,anestimateofthepossible

loss.Forpurposesofourcontingencydisclosures,“significant”includesmaterialmattersaswellasothermatterswhichmanagement

believesshouldbedisclosed.ExxonMobilwillcontinuetodefenditselfvigorouslyinthesematters.Basedonaconsiderationofallrelevant

factsandcircumstances,theCorporationdoesnotbelievetheultimateoutcomeofanycurrentlypendinglawsuitagainstExxonMobilwill

haveamaterialadverseeffectupontheCorporation’soperations,financialcondition,orfinancialstatementstakenasawhole.

OnJune30,2011,astatedistrictcourtjuryinBaltimoreCounty,MarylandreturnedaverdictagainstExxonMobilCorporationinAllison,

et al v. Exxon Mobil Corporation, acaseinvolvinganaccidental26,000gallongasolineleakatasuburbanBaltimoreservicestation.The

verdictincludedapproximately$497millionincompensatorydamagesandapproximately$1.0billioninpunitivedamagesinafindingthat

ExxonMobilfraudulentlymisledtheplaintiff-residentsabouttheeventsleadinguptotheleak,theleak’sdiscovery,andthenatureandextent

ofanygroundwatercontamination.ExxonMobilbelievestheverdictisnotjustifiedbytheevidenceandthattheamountofthe

compensatoryawardisgrosslyexcessiveandtheimpositionofpunitivedamagesisimproperandunconstitutional.Thetrialcourtdenieda

post-trialmotionthatExxonMobilfiledtooverturnthepunitivedamagesverdictandenteredafinaljudgmentintheamountof$1,488million.

ExxonMobilappealedtheverdictandjudgment.Inapriortrialinvolvingthesameleakanddifferentplaintiffs,thejuryawarded

compensatorydamagesbutrejectedtheplaintiffs’punitivedamageclaims.Thoseplaintiffsdidnotappealthejury’sdenialofpunitive

damages.OnFebruary9,2012,theMarylandCourtofSpecialAppealsreversedinpartandaffirmedinpartthetrialcourt'sdecisionon

compensatorydamagesinthatcase.TheMarylandCourtofAppealsgrantedwritsofcertioraritobothpartiesinresponsetotheirseparate

petitionsseekingreversalsofportionsoftheCourtofSpecialAppeals'decision.Theappealsinbothofthesecaseswereconsolidated

beforetheMarylandCourtofAppealsandargumentswereheldonNovember5,2012.OnFebruary26,2013,theMarylandCourtofAppeals

issueditsopinionintheconsolidatedappeal.Thecourtunanimouslyreversedthefraudandpunitivedamagesjudgment,andalsoreversed

amajorityofthecompensatorydamageclaims.Thecourtremandedalimitednumberofclaimsrelatedtoallegedpropertydamageforanew

trial.

Other Contingencies. TheCorporationandcertainofitsconsolidatedsubsidiarieswerecontingentlyliableatDecember31,2012,for

guaranteesrelatingtonotes,loansandperformanceundercontracts.Whereguaranteesforenvironmentalremediationandothersimilar

mattersdonotincludeastatedcap,theamountsreflectmanagement’sestimateofthemaximumpotentialexposure.

Dec. 31, 2012

Equity Company Other Third-Party

Obligations (1) Obligations Total

(millions of dollars)

Guarantees

Debt-related 2,423 53

Other 2,729 4,994

Total 5,152 5,047 10,199

(1) ExxonMobil share.

Additionally,theCorporationanditsaffiliateshavenumerouslong-termsalesandpurchasecommitmentsintheirvariousbusinessactivities,

allofwhichareexpectedtobefulfilledwithnoadverseconsequencesmaterialtotheCorporation’soperationsorfinancialcondition.

Unconditionalpurchaseobligationsasdefinedbyaccountingstandardsarethoselong-termcommitmentsthatarenoncancelableor

cancelableonlyundercertainconditions,andthatthirdpartieshaveusedtosecurefinancingforthefacilitiesthatwillprovidethe

contractedgoodsorservices.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Payments Due by Period

2014- 2018 and

2013 2017 Beyond Total

(millions of dollars)

Unconditionalpurchaseobligations(1) 184 624 319

(1) Undiscounted obligations of $1,127 million mainly pertain to pipeline throughput agreements and include $584 million of

obligations to equity companies. The present value of these commitments, which excludes imputed interest of $198 million, totaled

$929 million.

InaccordancewithanationalizationdecreeissuedbyVenezuela’spresidentinFebruary2007,byMay1,2007,asubsidiaryofthe

VenezuelanNationalOilCompany(PdVSA)assumedtheoperatorshipoftheCerroNegroHeavyOilProject.ThisProjecthadbeenoperated

andownedbyExxonMobilaffiliatesholdinga41.67percentownershipinterestintheProject.Thedecreealsorequiredconversionofthe

CerroNegroProjectintoa“mixedenterprise”andanincreaseinPdVSA’soroneofitsaffiliate’sownershipinterestintheProject,withthe

stipulationthatifExxonMobilrefusedtoacceptthetermsfortheformationofthemixedenterprisewithinaspecifiedperiodoftime,the

governmentwould“directlyassumetheactivities”carriedoutbythejointventure.ExxonMobilrefusedtoaccedetothetermsprofferedby

thegovernment,andonJune27,2007,thegovernmentexpropriatedExxonMobil’s41.67percentinterestintheCerroNegroProject.

ExxonMobil’sremainingnetbookinvestmentinCerroNegroproducingassetsisabout$750million.

OnSeptember6,2007,affiliatesofExxonMobilfiledaRequestforArbitrationwiththeInternationalCentreforSettlementofInvestment

Disputes(ICSID)invokingICSIDjurisdictionunderVenezuela’sInvestmentLawandtheNetherlands-VenezuelaBilateralInvestmentTreaty.

TheICSIDTribunalissuedadecisiononJune10,2010,findingthatithadjurisdictiontoproceedonthebasisoftheNetherlands-Venezuela

BilateralInvestmentTreaty.TheICSIDarbitrationproceedingiscontinuingandahearingonthemeritswasheldinFebruary2012.Atthis

time,thenetimpactofthesemattersontheCorporation’sconsolidatedfinancialresultscannotbereasonablyestimated.Regardless,the

CorporationdoesnotexpecttheresolutiontohaveamaterialeffectupontheCorporation’soperationsorfinancialcondition.

AnaffiliateofExxonMobilisoneoftheContractorsunderaProductionSharingContract(PSC)withtheNigerianNationalPetroleum

Corporation(NNPC)coveringtheErhablocklocatedintheoffshorewatersofNigeria.ExxonMobil’saffiliateistheoperatoroftheblockand

ownsa56.25percentinterestunderthePSC.TheContractorsareindisputewithNNPCregardingNNPC’sliftingofcrudeoilinexcessofits

entitlementunderthetermsofthePSC.InaccordancewiththetermsofthePSC,theContractorsinitiatedarbitrationinAbuja,Nigeria,under

theNigerianArbitrationandConciliationAct.OnOctober24,2011,athree-memberarbitralTribunalissuedanawardupholdingthe

Contractors’positioninallmaterialrespectsandawardingdamagestotheContractorsjointlyinanamountofapproximately$1.8billionplus

$234millioninaccruedinterest.TheContractorspetitionedaNigerianfederalcourtforenforcementoftheaward,andNNPCpetitionedthe

samecourttohavetheawardsetaside.OnMay22,2012,thecourtsetasidetheaward.TheContractorshaveappealedthatjudgment.

thistime,thenetimpactofthismatterontheCorporation’sconsolidatedfinancialresultscannotbereasonablyestimated.However,

regardlessoftheoutcomeofenforcementproceedings,theCorporationdoesnotexpecttheproceedingstohaveamaterialeffectuponthe

Corporation’soperationsorfinancialcondition.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

17. Pension andOther Postretirement Benefits

ThebenefitobligationsandplanassetsassociatedwiththeCorporation’sprincipalbenefitplansaremeasuredonDecember31.

Pension Benefits Other Postretirement

U.S. Non-U.S. Benefits

2012 2011 2012 2011 2012 2011

(percent)

Weighted-averageassumptionsusedtodetermine

benefitobligationsatDecember31

Discountrate 4.00 5.00 3.80 4.00 4.00

Long-termrateofcompensationincrease 5.75 5.75 5.50 5.40 5.75

(millions of dollars)

Changeinbenefitobligation

BenefitobligationatJanuary1 17,035 15,007 29,068 25,722 7,880

Servicecost 665 546 648 574 134

Interestcost 820 792 1,145 1,267 380

Actuarialloss/(gain) 2,553 1,954 2,335 3,086 1,035

Benefitspaid(1) (2) (1,294) (1,264) (1,330) (1,470) (476)

Foreignexchangeratechanges - - 651 (303) 13

Japanrestructuringandotherdivestments - - (3,952) (16) -

Planamendments,other - - 105 208 92

BenefitobligationatDecember31 19,779 17,035 28,670 29,068 9,058

AccumulatedbenefitobligationatDecember31 15,902 14,081 24,345 25,480 -

(1) Benefit payments for funded and unfunded plans.

(2) For 2012 and 2011, other postretirement benefits paid are net of $23 million and $29 million of Medicare subsidy receipts,

respectively.

ForU.S.plans,thediscountrateisdeterminedbyconstructingaportfolioofhigh-quality,noncallablebondswithcashflowsthatmatch

estimatedoutflowsforbenefitpayments.Formajornon-U.S.plans,thediscountrateisdeterminedbyusingbondportfolioswithanaverage

maturityapproximatingthatoftheliabilitiesorspotyieldcurves,bothofwhichareconstructedusinghigh-quality,local-currencydenominatedbonds.

Themeasurementoftheaccumulatedpostretirementbenefitobligationassumesaninitialhealthcarecosttrendrateof5.0percentthat

declinesto4.5percentby2015.Aone-percentage-pointincreaseinthehealthcarecosttrendratewouldincreaseserviceandinterestcost

by$74millionandthepostretirementbenefitobligationby$871million.Aone-percentage-pointdecreaseinthehealthcarecosttrendrate

woulddecreaseserviceandinterestcostby$57millionandthepostretirementbenefitobligationby$700million.

Pension Benefits Other Postretirement

U.S. Non-U.S. Benefits

2012 2011 2012 2011 2012 2011

(millions of dollars)

Changeinplanassets

FairvalueatJanuary1 10,656 10,835 17,117 16,765 538

Actualreturnonplanassets 1,457 505 1,541 123 65

Foreignexchangeratechanges - - 462 (192) -

Companycontribution 1,560 370 1,604 1,623 38

Benefitspaid(1) (1,041) (1,054) (922) (1,046) (60)

Japanrestructuringandotherdivestments - - (1,696) (7) -

Other - - (16) (149) -

FairvalueatDecember31 12,632 10,656 18,090 17,117 581

(1) Benefit payments for funded plans.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Thefundinglevelsofallqualifiedpensionplansareincompliancewithstandardssetbyapplicablelaworregulation.Asshowninthetable

below,certainsmallerU.S.pensionplansandanumberofnon-U.S.pensionplansarenotfundedbecauselocaltaxconventions

andregulatorypracticesdonotencouragefundingoftheseplans.Alldefinedbenefitpensionobligations,regardlessofthefundingstatus

oftheunderlyingplans,arefullysupportedbythefinancialstrengthoftheCorporationortherespectivesponsoringaffiliate.

Pension Benefits

U.S. Non-U.S.

2012 2011 2012 2011

(millions of dollars)

Assetsinexcessof/(lessthan)benefitobligation

BalanceatDecember31

Fundedplans (4,438) (4,141) (3,247) (5,319)

Unfundedplans (2,709) (2,238) (7,333) (6,632)

Total (7,147) (6,379) (10,580) (11,951)

Theauthoritativeguidancefordefinedbenefitpensionandotherpostretirementplansrequiresanemployertorecognizetheoverfundedor

underfundedstatusofadefinedbenefitpostretirementplanasanassetorliabilityinitsstatementoffinancialpositionandtorecognize

changesinthatfundedstatusintheyearinwhichthechangesoccurthroughothercomprehensiveincome.

Pension Benefits Other Postretirement

U.S. Non-U.S. Benefits

2012 2011 2012 2011 2012 2011

(millions of dollars)

Assetsinexcessof/(lessthan)benefitobligation

BalanceatDecember31(1) (7,147) (6,379) (10,580) (11,951) (8,477) (7,342)

Amountsrecordedintheconsolidatedbalance

sheetconsistof:

Otherassets 1 1 49 245 -

Currentliabilities (279) (237) (352) (346) (356)

Postretirementbenefitsreserves (6,869) (6,143) (10,277) (11,850) (8,121) (7,001)

Totalrecorded (7,147) (6,379) (10,580) (11,951) (8,477) (7,342)

Amountsrecordedinaccumulatedother

comprehensiveincomeconsistof:

Netactuarialloss/(gain) 7,451 6,475 10,904 11,170 3,132

Priorservicecost 67 74 758 745 85

Totalrecordedinaccumulatedother

comprehensiveincome 7,518 6,549 11,662 11,915 3,217

(1) Fair value of assets less benefit obligation shown on the preceding page.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Thelong-termexpectedrateofreturnonfundedassetsshownbelowisestablishedforeachbenefitplanbydevelopingaforward-looking,

long-termreturnassumptionforeachassetclass,takingintoaccountfactorssuchastheexpectedrealreturnforthespecificassetclassand

inflation.Asingle,long-termrateofreturnisthencalculatedastheweightedaverageofthetargetassetallocationpercentagesandthelongtermreturnassumptionforeachassetclass.

Other

Pension Benefits Postretirement

U.S. Non-U.S. Benefits

2012 2011 2010 2012 2011 2010 2012 2011

Weighted-averageassumptionsusedto

determinenetperiodicbenefitcostfor

yearsendedDecember31 (percent)

Discountrate 5.00 5.50 6.00 4.00 4.80 5.20 5.00 5.50

Long-termrateofreturnonfundedassets 7.25 7.50 7.50 6.60 6.80 6.70 7.25 7.50

Long-termrateofcompensationincrease 5.75 5.25 5.25 5.40 5.20 5.00 5.75 5.25

Componentsofnetperiodicbenefitcost (millions of dollars)

Servicecost 665 546 468 648 574 480 134 121

Interestcost 820 792 798 1,145 1,267 1,175 380 393

Expectedreturnonplanassets (789) (769) (726) (1,109) (1,168) (1,010) (38) (41)

Amortizationofactuarialloss/(gain) 576 485 525 844 647 554 170 162

Amortizationofpriorservicecost 7 9 2 117 103 84 34 35

Netpensionenhancementand

curtailment/settlementcost(1) 333 286 321 1,540 34 9 - -

Netperiodicbenefitcost 1,612 1,349 1,388 3,185 1,457 1,292 680 670

(1)

Non-U.S. net pension enhancement and curtailment/settlement cost for 2012 includes $1,420 million (on a consolidatedcompany, before-tax basis) of accumulated other comprehensive income for the postretirement benefit reserves adjustment

that was recycled into earnings and included in the Japan restructuring gain reported in “Other income” (See Note 20).

Changesinamountsrecordedinaccumulated

othercomprehensiveincome:

Netactuarialloss/(gain) 1,885 2,218 44 1,906 4,133 1,202 1,008 468

Amortizationofactuarial(loss)/gain (909) (771) (846) (2,384) (681) (563) (170) (162)

Priorservicecost/(credit) - - 80 71 187 160 - -

Amortizationofpriorservice(cost)/credit (7) (9) (2) (117) (103) (84) (34) (35)

Foreignexchangeratechanges - - - 271 (90) 96 3 -

Totalrecordedinothercomprehensiveincome 969 1,438 (724) (253) 3,446 811 807 271

Totalrecordedinnetperiodicbenefitcostand

othercomprehensiveincome,beforetax 2,581 2,787 664 2,932 4,903 2,103 1,487 941

Costsfordefinedcontributionplanswere$382million,$378millionand$347millionin2012,2011and2010,respectively.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Asummaryofthechangeinaccumulatedothercomprehensiveincomeisshowninthetablebelow:

Total Pension and

Other Postretirement Benefits

2012 2011 2010

(millions of dollars)

(Charge)/credittoothercomprehensiveincome,beforetax

U.S.pension (969) (1,438)

Non-U.S.pension 253 (3,446)

Otherpostretirementbenefits (807) (271)

Total(charge)/credittoothercomprehensiveincome,beforetax (1,523) (5,155)

(Charge)/credittoincometax(seeNote4) 393 1,495

(Charge)/credittoinvestmentinequitycompanies (49) (30)

(Charge)/credittoothercomprehensiveincomeincludingnoncontrolling

interests,aftertax (1,179) (3,690)

Charge/(credit)toequityofnoncontrollinginterests (124) 288

(Charge)/credittoothercomprehensiveincomeattributabletoExxonMobil (1,303) (3,402)

TheCorporation’sinvestmentstrategyforbenefitplanassetsreflectsalong-termview,acarefulassessmentoftherisksinherentinvarious

assetclassesandbroaddiversificationtoreducetheriskoftheportfolio.Thebenefitplanassetsareprimarilyinvestedinpassiveequityand

fixedincomeindexfundstodiversifyriskwhileminimizingcosts.TheequityfundsholdExxonMobilstockonlytotheextentnecessaryto

replicatetherelevantequityindex.Thefixedincomefundsarelargelyinvestedinhigh-qualitycorporateandgovernmentdebtsecurities.

Studiesareperiodicallyconductedtoestablishthepreferredtargetassetallocationpercentages.ThetargetassetallocationfortheU.S.

benefitplansis50percentequitysecuritiesand50percentdebtsecurities.Thetargetassetallocationforthenon-U.S.plansinaggregateis

50percentequitysecuritiesand50percentdebtsecurities.TheequitytargetsfortheU.S.andnon-U.S.plansincludeanallocationtoprivate

equitypartnershipsthatprimarilyfocusonearly-stageventurecapitalof5percentand3percent,respectively.

Thefairvaluemeasurementlevelsareaccountingtermsthatrefertodifferentmethodsofvaluingassets.Thetermsdonotrepresentthe

relativeriskorcreditqualityofaninvestment.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The2012fairvalueofthebenefitplanassets,includingthelevelwithinthefairvaluehierarchy,isshowninthetablesbelow:

U.S. Pension Non-U.S. Pension

Fair Value Measurement Fair Value Measurement

at December 31, 2012, Using: at December 31, 2012, Using:

Quoted Quoted

Prices Prices

in Active Significant in Active Significant

Markets for Other Significant Markets for Other Significant

Identical Observable Unobservable Identical Observable Unobservable

Assets Inputs Inputs Assets Inputs Inputs

(Level 1) (Level 2) (Level 3) Total (Level 1) (Level 2) (Level 3) Total

(millions of dollars)

Assetcategory:

Equitysecurities

U.S. - 2,600(1) - 2,600 - 2,671(1) -

Non-U.S. - 3,227(1) - 3,227 203(2) 5,308(1) -

Privateequity - - 489(3) 489 - - 448(3)

Debtsecurities

Corporate - 3,872(4) - 3,872 - 2,005(4) -

Government - 2,223(4) - 2,223 271(5) 6,643(4) -

Asset-backed - 10(4) - 10 - 95(4) -

Privatemortgages - - - - - - 5(6)

Realestatefunds - - - - - - 293(7)

Cash - 198(8) - 198 93 35(9) -

Totalatfairvalue - 12,130 489 12,619 567 16,757 746 18,070

Insurancecontracts

atcontractvalue 13

Totalplanassets 12,632 18,090

(1) For U.S. and non-U.S. equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is

treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active

exchanges, which are Level 1 inputs.

(2) For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.

(3) For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including

Initial Public Of erings.

(4) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market

transactions.

(5) For corporate and government debt securities that are traded on active exchanges, fair value is based on observable quoted prices.

(6) For private mortgages, fair value is estimated to equal the principal outstanding at the measurement date.

(7) For real estate funds, fair value is based on appraised values developed using comparable market transactions.

(8) For cash balances held in the form ofshort-term fund units that are redeemable at the measurement date, the fair value is treated as a

Level 2 input.

(9) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Other Postretirement

Fair Value Measurement

at December 31, 2012, Using:

Quoted

Prices

in Active Significant

Markets for Other Significant

Identical Observable Unobservable

Assets Inputs Inputs

(Level 1) (Level 2) (Level 3) Total

(millions of dollars)

Assetcategory:

Equitysecurities

U.S. - 166(1) -

Non-U.S. - 160(1) -

Privateequity - - 7(2)

Debtsecurities

Corporate - 91(3) -

Government - 136(3) -

Asset-backed - 14(3) -

Cash - 7 -

Totalatfairvalue - 574 7

(1) For U.S. and non-U.S. equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is

treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active

exchanges, which are Level 1 inputs.

(2) For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data

including Initial Public Of erings.

(3) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market

transactions.

Thechangeinthefairvaluein2012ofLevel3assetsthatusesignificantunobservableinputstomeasurefairvalueisshowninthetable

below:

2012

Pension Other

U.S. Non-U.S. Postretirement

Private Private Private Real Private

Equity Equity Mortgages Estate Equity

(millions of dollars)

FairvalueatJanuary1 458 393 4 397

Netrealizedgains/(losses) 2 2 - (14)

Netunrealizedgains/(losses) 41 22 1 (1)

Netpurchases/(sales) (12) 31 - (89)

FairvalueatDecember31 489 448 5 293

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The2011fairvalueofthebenefitplanassets,includingthelevelwithinthefairvaluehierarchy,isshowninthetablesbelow:

U.S. Pension Non-U.S. Pension

Fair Value Measurement Fair Value Measurement

at December 31, 2011, Using: at December 31, 2011, Using:

Quoted Quoted

Prices Prices

in Active Significant in Active Significant

Markets for Other Significant Markets for Other Significant

Identical Observable Unobservable Identical Observable Unobservable

Assets Inputs Inputs Assets Inputs Inputs

(Level 1) (Level 2) (Level 3) Total (Level 1) (Level 2) (Level 3) Total

(millions of dollars)

Assetcategory:

Equitysecurities

U.S. - 2,247(1) - 2,247 - 2,589(1) -

Non-U.S. - 2,636(1) - 2,636 194(2) 4,835(1) -

Privateequity - - 458(3) 458 - - 393(3)

Debtsecurities

Corporate - 2,728(4) - 2,728 2(5) 1,857(4) -

Government - 2,482(4) - 2,482 186(5) 6,317(4) -

Asset-backed - 11(4) - 11 - 102(4) -

Privatemortgages - - - - - - 4(6)

Realestatefunds - - - - - - 397(7)

Cash - 71(8) - 71 76 13(9) -

Totalatfairvalue - 10,175 458 10,633 458 15,713 794 16,965

Insurancecontracts

atcontractvalue 23

Totalplanassets 10,656 17,117

(1) For U.S. and non-U.S. equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is

treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active

exchanges, which are Level 1 inputs.

(2) For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.

(3) For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including

Initial Public Of erings.

(4) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market

transactions.

(5) For corporate and government debt securities that are traded on active exchanges, fair value is based on observable quoted prices.

(6) For private mortgages, fair value is estimated to equal the principal outstanding at the measurement date.

(7) For real estate funds, fair value is based on appraised values developed using comparable market transactions.

(8) For cash balances held in the form ofshort-term fund units that are redeemable at the measurement date, the fair value is treated as a

Level 2 input.

(9) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Other Postretirement

Fair Value Measurement

at December 31, 2011, Using:

Quoted

Prices

in Active Significant

Markets for Other Significant

Identical Observable Unobservable

Assets Inputs Inputs

(Level 1) (Level 2) (Level 3) Total

(millions of dollars)

Assetcategory:

Equitysecurities

U.S. - 166(1) -

Non-U.S. - 155(1) -

Privateequity - - 7(2)

Debtsecurities

Corporate - 77(3) -

Government - 120(3) -

Asset-backed - 12(3) -

Cash - 1 -

Totalatfairvalue - 531 7

(1) For U.S. and non-U.S. equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is

treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active

exchanges, which are Level 1 inputs.

(2) For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including

Initial Public Of erings.

(3) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market

transactions.

Thechangeinthefairvaluein2011ofLevel3assetsthatusesignificantunobservableinputstomeasurefairvalueisshowninthetable

below:

2011

Pension Other Postretirement

U.S. Non-U.S.

Private Private Private Private Real Private Private

Equity Mortgages Equity Mortgages Estate Equity Mortgages

(millions of dollars)

FairvalueatJanuary1 408 128 315 4 417 5

Netrealizedgains/(losses) 1 5 7 - 3 -

Netunrealizedgains/(losses) 56 - 33 - 6 2

Netpurchases/(sales) (7) (133) 38 - (29) -

FairvalueatDecember31 458 - 393 4 397 7

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Asummaryofpensionplanswithanaccumulatedbenefitobligationinexcessofplanassetsisshowninthetablebelow:

Pension Benefits

U.S. Non-U.S.

2012 2011 2012 2011

(millions of dollars)

Forfundedpensionplanswithanaccumulatedbenefitobligation

inexcessofplanassets:

Projectedbenefitobligation 17,070 14,797 9,422 17,668

Accumulatedbenefitobligation 14,171 12,606 8,184 16,175

Fairvalueofplanassets 12,631 10,655 7,048 12,832

Forunfundedpensionplans:

Projectedbenefitobligation 2,709 2,238 7,333

Accumulatedbenefitobligation 1,731 1,475 6,103

Other

Pension Benefits Postretirement

U.S. Non-U.S. Benefits

(millions of dollars)

Estimated2013amortizationfromaccumulatedothercomprehensiveincome:

Netactuarialloss/(gain)(1) 1,173 882

Priorservicecost(2) 7 121

(1) The Corporation amortizes the net balance of actuarial losses/(gains) as a component of net periodic benefit cost over the average

remaining service period of active plan participants.

(2) The Corporation amortizes prior service cost on a straight-line basis as permitted under authoritative guidance for defined benefit

pension and other postretirement benefit plans.

Pension Benefits Other Postretirement Benefits

Medicare

U.S. Non-U.S. Gross Subsidy Receipt

(millions of dollars)

Contributionsexpectedin2013 100 1,250 -

Benefitpaymentsexpectedin:

2013 1,643 1,237 453

2014 1,611 1,237 469

2015 1,597 1,294 482

2016 1,558 1,329 494

2017 1,510 1,384 506

2018-2022 6,716 7,319 2,633

18. Disclosures about Segments andRelatedInformation

TheUpstream,DownstreamandChemicalfunctionsbestdefinetheoperatingsegmentsofthebusinessthatarereportedseparately.The

factorsusedtoidentifythesereportablesegmentsarebasedonthenatureoftheoperationsthatareundertakenbyeachsegment.The

Upstreamsegmentisorganizedandoperatestoexploreforandproducecrudeoilandnaturalgas.TheDownstreamsegmentisorganized

andoperatestomanufactureandsellpetroleumproducts.TheChemicalsegmentisorganizedandoperatestomanufactureandsell

petrochemicals.Thesesegmentsarebroadlyunderstoodacrossthepetroleumandpetrochemicalindustries.

ThesefunctionshavebeendefinedastheoperatingsegmentsoftheCorporationbecausetheyarethesegments(1)thatengagein

businessactivitiesfromwhichrevenuesareearnedandexpensesareincurred;(2)whoseoperatingresultsareregularlyreviewedbythe

Corporation’schiefoperatingdecisionmakertomakedecisionsaboutresourcestobeallocatedtothesegmentandassessitsperformance;

and(3)forwhichdiscretefinancialinformationisavailable.

Earningsafterincometaxincludetransfersatestimatedmarketprices.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Incorporateandfinancingactivities,interestrevenuerelatestointerestearnedoncashdepositsandmarketablesecurities.Interest

expenseincludesnon-debt-relatedinterestexpenseof$202million,$165millionand$41millionin2012,2011and2010,respectively.

Corporate

Upstream Downstream Chemical and Corporate

U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Financing Total

(millions of dollars)

AsofDecember31,2012

Earningsafterincometax 3,925 25,970 3,575 9,615 2,220 1,678 (2,103) 44,880

Earningsofequitycompaniesabove 1,759 11,900 6 387 183 1,267 (492) 15,010

Salesandotheroperatingrevenue(1) 11,472 28,854 125,088 248,959 14,723 24,003 24 453,123

Intersegmentrevenue 8,764 47,507 20,963 62,130 12,409 9,750 258

Depreciationanddepletionexpense 5,104 7,340 594 1,280 376 508 686 15,888

Interestrevenue - - - - - - 117

Interestexpense 37 13 3 36 - (1) 239

Incometaxes 2,025 25,362 1,811 1,892 755 232 (1,032) 31,045

Additionstoproperty,plantandequipment 9,697 21,769 480 1,153 338 659 1,083 35,179

Investmentsinequitycompanies 4,020 9,147 195 2,069 233 3,143 (277) 18,530

Totalassets 86,146 140,848 18,451 40,956 7,238 18,886 21,270 333,795

AsofDecember31,2011

Earningsafterincometax 5,096 29,343 2,268 2,191 2,215 2,168 (2,221) 41,060

Earningsofequitycompaniesabove 2,045 11,768 7 353 198 1,365 (447) 15,289

Salesandotheroperatingrevenue(1) 14,023 32,419 120,844 257,779 15,466 26,476 22 467,029

Intersegmentrevenue 9,807 49,910 18,489 73,549 12,226 10,563 262

Depreciationanddepletionexpense 4,879 7,021 650 1,560 380 458 635 15,583

Interestrevenue - - - - - - 135

Interestexpense 30 36 10 24 2 (1) 146

Incometaxes 2,852 25,755 1,123 696 1,027 465 (867) 31,051

Additionstoproperty,plantandequipment 10,887 18,934 400 1,334 241 910 932 33,638

Investmentsinequitycompanies 2,963 8,439 210 1,358 253 3,973 (228) 16,968

Totalassets 82,900 127,977 18,354 51,132 7,245 19,862 23,582 331,052

AsofDecember31,2010

Earningsafterincometax 4,272 19,825 770 2,797 2,422 2,491 (2,117) 30,460

Earningsofequitycompaniesabove 1,261 8,415 23 225 171 1,163 (581) 10,677

Salesandotheroperatingrevenue(1) 8,895 26,046 93,599 206,042 13,402 22,119 22 370,125

Intersegmentrevenue 8,102 39,066 13,546 52,697 9,694 8,421 282

Depreciationanddepletionexpense 3,506 7,574 681 1,565 421 432 581 14,760

Interestrevenue - - - - - - 118

Interestexpense 20 25 1 19 1 4 189

Incometaxes 2,219 18,627 360 560 736 347 (1,288) 21,561

Additionstoproperty,plantandequipment 52,300 16,937 888 1,332 247 1,733 719 74,156

Investmentsinequitycompanies 2,636 9,625 254 1,240 285 3,586 (197) 17,429

Totalassets 76,725 115,646 18,378 47,402 7,148 19,087 18,124 302,510

(1) Sales and other operating revenue includes sales-based taxes of $32,409 million for 2012, $33,503 million for 2011 and $28,547

million for 2010. See Note 1, Summary of Accounting Policies.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Geographic

Sales andother operating revenue (1) 2012 2011 2010

(millions of dollars)

UnitedStates 151,298 150,343 115,906

Non-U.S. 301,825 316,686 254,219

Total 453,123 467,029 370,125

Significantnon-U.S.revenuesourcesinclude:

Canada 34,325 34,626 27,243

UnitedKingdom 34,134 34,833 24,637

Belgium 23,567 26,926 21,139

France 19,601 18,510 13,920

Italy 18,228 16,288 14,132

Germany 16,451 17,034 14,301

Singapore 14,606 14,400 11,088

Japan 14,162 31,925 27,143

(1) Sales and other operating revenue includes sales-based taxes of $32,409 million for 2012, $33,503 million for 2011 and $28,547

million for 2010. See Note 1, Summary of Accounting Policies.

Long-livedassets 2012 2011 2010

(millions of dollars)

UnitedStates 94,336 91,146 86,021

Non-U.S. 132,613 123,518 113,527

Total 226,949 214,664 199,548

Significantnon-U.S.long-livedassetsinclude:

Canada 31,979 24,458 20,879

Australia 13,415 9,474

Nigeria 12,216 11,806 11,429

Singapore 9,700 9,285

Angola 8,238 10,395

Kazakhstan 7,785 7,022

Norway 7,040 6,039

UnitedKingdom 5,472 5,008

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

19. Income, Sales-BasedandOther Taxes

2012 2011 2010

U.S. Non-U.S. Total U.S. Non-U.S. Total U.S. Non-U.S. Total

(millions of dollars)

Incometaxexpense

Federalandnon-U.S.

Current 1,791 25,650 27,441 1,547 28,849 30,396 1,224 21,093 22,317

Deferred-net 1,097 1,816 2,913 1,577 (1,417) 160 49 (1,191) (1,142)

U.S.taxonnon-U.S.operations 89 - 89 15 - 15 46 -

Totalfederalandnon-U.S. 2,977 27,466 30,443 3,139 27,432 30,571 1,319 19,902 21,221

State 602 - 602 480 - 480 340 -

Totalincometaxexpense 3,579 27,466 31,045 3,619 27,432 31,051 1,659 19,902 21,561

Sales-basedtaxes 5,785 26,624 32,409 5,652 27,851 33,503 6,182 22,365 28,547

Allothertaxesandduties

Othertaxesandduties 1,406 34,152 35,558 1,539 38,434 39,973 776 35,342 36,118

Includedinproductionand

manufacturingexpenses 1,242 1,308 2,550 1,342 1,425 2,767 1,001 1,237

IncludedinSG&Aexpenses 154 595 749 181 623 804 201 570

Totalothertaxesandduties 2,802 36,055 38,857 3,062 40,482 43,544 1,978 37,149 39,127

Total 12,166 90,145 102,311 12,333 95,765 108,098 9,819 79,416 89,235

Allothertaxesanddutiesincludetaxesreportedinproductionandmanufacturingandselling,generalandadministrative(SG&A)expenses.

Theaboveprovisionsfordeferredincometaxesincludenetchargesof$244millionin2012and$175millionin2010andanetcreditof$330

millionin2011fortheeffectofchangesintaxlawsandrates.

ThereconciliationbetweenincometaxexpenseandatheoreticalU.S.taxcomputedbyapplyingarateof35percentfor2012,2011and2010is

asfollows:

2012 2011 2010

(millions of dollars)

Incomebeforeincometaxes

UnitedStates 11,222 11,511

Non-U.S. 67,504 61,746 45,248

Total 78,726 73,257 52,959

Theoreticaltax 27,554 25,640 18,536

Effectofequitymethodofaccounting (5,254) (5,351) (3,737)

Non-U.S.taxesinexcessoftheoreticalU.S.tax 8,434 10,385

U.S.taxonnon-U.S.operations 89 15

Statetaxes,netoffederaltaxbenefit 391 312

OtherU.S. (169) 50

Totalincometaxexpense 31,045 31,051 21,561

Effectivetaxratecalculation

Incometaxes 31,045 31,051 21,561

ExxonMobilshareofequitycompanyincometaxes 5,859 5,603

Totalincometaxes 36,904 36,654 25,619

Netincomeincludingnoncontrollinginterests 47,681 42,206 31,398

Totalincomebeforetaxes 84,585 78,860 57,017

Effectiveincometaxrate 44% 46%

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Deferredincometaxesreflecttheimpactoftemporarydifferencesbetweentheamountofassetsandliabilitiesrecognizedforfinancial

reportingpurposesandsuchamountsrecognizedfortaxpurposes.

Deferredtaxliabilities/(assets)arecomprisedofthefollowingatDecember31:

Tax effects of temporary differences for: 2012 2011

(millions of dollars)

Property,plantandequipment 48,720 45,951

Otherliabilities 3,680

Totaldeferredtaxliabilities 52,400 50,232

Pensionandotherpostretirementbenefits (8,041) (7,930)

Assetretirementobligations (5,826) (5,302)

Taxlosscarryforwards (2,989) (3,166)

Otherassets (6,135) (7,079)

Totaldeferredtaxassets (22,991) (23,477)

Assetvaluationallowances 1,615

Netdeferredtaxliabilities 31,024 28,059

Deferredincometax(assets)andliabilitiesareincludedinthebalancesheetasshownbelow.Deferredincometax(assets)andliabilitiesare

classifiedascurrentorlongtermconsistentwiththeclassificationoftherelatedtemporarydifference–separatelybytaxjurisdiction.

Balance sheet classification 2012 2011

(millions of dollars)

Othercurrentassets (3,540) (4,549)

Otherassets,includingintangibles,net (3,269) (4,218)

Accountspayableandaccruedliabilities 263

Deferredincometaxliabilities 37,570 36,618

Netdeferredtaxliabilities 31,024 28,059

TheCorporationhad$43billionofindefinitelyreinvested,undistributedearningsfromsubsidiarycompaniesoutsidetheU.S.Unrecognized

deferredtaxesonremittanceofthesefundsarenotexpectedtobematerial.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

UnrecognizedTax Benefits. TheCorporationissubjecttoincometaxationinmanyjurisdictionsaroundtheworld.Unrecognizedtaxbenefits

reflectthedifferencebetweenpositionstakenorexpectedtobetakenonincometaxreturnsandtheamountsrecognizedinthefinancial

statements.Resolutionoftherelatedtaxpositionsthroughnegotiationswiththerelevanttaxauthoritiesorthroughlitigationwilltakemany

yearstocomplete.Itisdifficulttopredictthetimingofresolutionfortaxpositionssincesuchtimingisnotentirelywithinthecontrolofthe

Corporation.Itisreasonablypossiblethatthetotalamountofunrecognizedtaxbenefitscouldincreasebyupto25percentinthenext12

months,withnomaterialimpactonnear-termearnings.Giventhelongtimeperiodsinvolvedinresolvingtaxpositions,theCorporationdoes

notexpectthattherecognitionofunrecognizedtaxbenefitswillhaveamaterialimpactontheCorporation’seffectiveincometaxrateinany

givenyear.

Thefollowingtablesummarizesthemovementinunrecognizedtaxbenefits.

Gross unrecognizedtax benefits 2012 2011 2010

(millions of dollars)

BalanceatJanuary1 4,922 4,148

Additionsbasedoncurrentyear'staxpositions 1,662 822

Additionsforprioryears'taxpositions 2,559 451

Reductionsforprioryears'taxpositions (535) (329)

Reductionsduetolapseofthestatuteoflimitations (79) -

Settlementswithtaxauthorities (855) (145)

Foreignexchangeeffects/other (11) (25)

BalanceatDecember31 7,663 4,922

Theadditionsandreductionsinunrecognizedtaxbenefitsshownaboveincludeeffectsrelatedtonetincomeandequity,andtiming

differencesforwhichtheultimatedeductibilityishighlycertainbutforwhichthereisuncertaintyaboutthetimingofsuchdeductibility.The

2012,2011and2010changesinunrecognizedtaxbenefitsdidnothaveamaterialeffectontheCorporation’snetincomeorcashflow.

Thefollowingtablesummarizesthetaxyearsthatremainsubjecttoexaminationbymajortaxjurisdiction:

Country of Operation Open Tax Years

AbuDhabi 2000-2012

Angola 2009-2012

Australia: 2000-2003

2005-2012

Canada 2005-2012

EquatorialGuinea 2007-2012

Malaysia 2006-2012

Nigeria 1998-2012

Norway 2000-2012

UnitedKingdom 2010-2012

UnitedStates 2005-2012

TheCorporationclassifiesinterestonincometax-relatedbalancesasinterestexpenseorinterestincomeandclassifiestax-relatedpenalties

asoperatingexpense.

TheCorporationincurred$46millionand$62millionininterestexpenseonincometaxreservesin2012and2011,respectively.For2010,

interestexpensewasacreditof$39million,reflectingtheeffectofcreditsfromthenetfavorableresolutionofprioryeartaxpositions.The

relatedinterestpayablebalanceswere$385millionand$662millionatDecember31,2012,and2011,respectively.

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20. Japan Restructuring

OnJune1,2012,theCorporationcompletedtherestructuringofitsDownstreamandChemicalholdingsinJapan.Undertherestructuring,

TonenGeneralSekiyuK.K.(TG),aconsolidatedsubsidiaryowned50percentbytheCorporation,purchasedfor$3.9billionthe

Corporation’ssharesofawholly-ownedaffiliateinJapan,EMGMarketingGodoKaisha(previouslyknownasExxonMobilYugenKaisha),

whichresultedinTGacquiringapproximately200millionofitssharesownedbytheCorporationalongwithotherassets.Asaresultofthe

restructuring,theCorporation’seffectiveownershipofTGwasreducedtoapproximately22percentandanetgainof$6.5billionwas

recognized.Thegainisincludedin“Otherincome”partiallyoffsetbyamountsincludedin“Incometaxes”and“Netincomeattributableto

noncontrollinginterests.”

Thegainincludes$1.9billionoftheCorporation’sshareofothercomprehensiveincomerecycledintoearnings(seenote1below).The

gainalsoincludesremeasurementofTG’ssharesthattheCorporationcontinuestoownto$0.7billion,basedonTG’ssharepriceonthe

TokyoStockExchange.TheCorporationaccountsforitsremaininginvestmentusingtheequitymethod.

SummarizedbalancesheetfortheJapanentitiessubjecttotherestructuringfollows:

June 1, 2012

(millions of dollars)

Assets

Currentassets 6,391

Netproperty,plantandequipment 4,700

Otherassets 989

Totalassets 12,080

Liabilities

Currentliabilities 7,398

Long-termdebt 22

Postretirementbenefitsreserves 2,066

Otherlong-termobligations 826

Totalliabilities 10,312

Equity

ExxonMobilshareofequity(1) (256)

Noncontrollinginterests 2,024

Totalequity 1,768

Totalliabilitiesandequity 12,080

(1) The accumulated other comprehensive income associated with the Japan restructuring was recycled into earnings. At June 1, 2012,

ExxonMobil’s share of accumulated other comprehensive income was a benefit of $1.9 billion, including $2.5 billion related to

cumulative translation adjustments ofset by $0.6 billion related to postretirement benefits reserves adjustments.

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SUPPLEMENTALINFORMATION ON OIL AND GAS EXPLORATION AND PRODUCTION ACTIVITIES (unaudited)

TheresultsofoperationsforproducingactivitiesshownbelowdonotincludeearningsfromotheractivitiesthatExxonMobilincludesinthe

Upstream function,suchasoilandgastransportationoperations,LNGliquefactionandtransportationoperations,coalandpower

operations,technicalserviceagreements,othernonoperatingactivitiesandadjustmentsfornoncontrollinginterests.Theseexcluded

amountsforbothconsolidatedandequitycompaniestotaled$2,832millionin2012,$2,600millionin2011,and$249millionin2010.Oilsands

miningoperationsareincludedintheresultsofoperationsinaccordancewithSecuritiesandExchangeCommissionandFinancial

AccountingStandardsBoardrules.

Canada/

United South Australia/

Results of Operations States America Europe Africa Asia Oceania Total

(millions of dollars)

Consolidated Subsidiaries

2012-Revenue

Salestothirdparties 6,977 1,804 5,835 3,672 6,536 1,275 26,099

Transfers 6,996 5,457 6,366 16,905 9,241 932 45,897

13,973 7,261 12,201 20,577 15,777 2,207 71,996

Productioncostsexcludingtaxes 4,044 3,079 2,443 2,395 1,606 488 14,055

Explorationexpenses 391 292 274 234 513 136

Depreciationanddepletion 4,862 848 1,559 2,879 1,785 264 12,197

Taxesotherthanincome 1,963 89 513 1,702 2,248 446

Relatedincometax 1,561 720 5,413 8,091 6,616 281 22,682

Resultsofproducingactivitiesforconsolidated

subsidiaries 1,152 2,233 1,999 5,276 3,009 592 14,261

Equity Companies

2012-Revenue

Salestothirdparties 1,284 - 6,380 - 20,017 - 27,681

Transfers 1,108 - 67 - 5,693 -

2,392 - 6,447 - 25,710 - 34,549

Productioncostsexcludingtaxes 467 - 369 - 484 -

Explorationexpenses 9 - 17 - - -

Depreciationanddepletion 176 - 152 - 676 -

Taxesotherthanincome 42 - 3,569 - 6,658 - 10,269

Relatedincometax - - 894 - 8,234 -

Resultsofproducingactivitiesforequitycompanies 1,698 - 1,446 - 9,658 - 12,802

Totalresultsofoperations 2,850 2,233 3,445 5,276 12,667 592 27,063

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Canada/

United South Australia/

Results of Operations States America Europe Africa Asia Oceania Total

(millions of dollars)

Consolidated Subsidiaries

2011-Revenue

Salestothirdparties 8,579 1,056 8,050 3,507 6,813 1,061 29,066

Transfers 8,190 7,022 7,694 16,704 9,388 1,213 50,211

16,769 8,078 15,744 20,211 16,201 2,274 79,277

Productioncostsexcludingtaxes 4,107 2,751 2,722 2,608 1,672 497 14,357

Explorationexpenses 268 290 599 233 618 73

Depreciationanddepletion 4,664 980 1,928 2,159 1,680 236 11,647

Taxesotherthanincome 2,157 79 631 2,055 2,164 295

Relatedincometax 2,445 969 6,842 7,888 6,026 353 24,523

Resultsofproducingactivitiesforconsolidated

subsidiaries 3,128 3,009 3,022 5,268 4,041 820 19,288

Equity Companies

2011-Revenue

Salestothirdparties 1,356 - 5,580 - 18,855 - 25,791

Transfers 1,163 - 103 - 5,666 -

2,519 - 5,683 - 24,521 - 32,723

Productioncostsexcludingtaxes 482 - 315 - 378 -

Explorationexpenses 10 - 13 - - -

Depreciationanddepletion 151 - 160 - 576 -

Taxesotherthanincome 36 - 2,995 - 6,173 -

Relatedincometax - - 847 - 8,036 -

Resultsofproducingactivitiesforequitycompanies 1,840 - 1,353 - 9,358 - 12,551

Totalresultsofoperations 4,968 3,009 4,375 5,268 13,399 820 31,839

Consolidated Subsidiaries

2010-Revenue

Salestothirdparties 5,334 1,218 6,055 4,227 4,578 696 22,108

Transfers 7,070 5,832 7,120 13,295 6,031 1,123 40,471

12,404 7,050 13,175 17,522 10,609 1,819 62,579

Productioncostsexcludingtaxes 2,794 2,612 2,717 2,215 1,308 462 12,108

Explorationexpenses 283 464 394 587 360 56

Depreciationanddepletion 3,350 1,015 2,531 2,580 1,141 219 10,836

Taxesotherthanincome 1,188 86 482 1,742 1,298 204

Relatedincometax 2,093 715 4,728 6,068 3,852 262 17,718

Resultsofproducingactivitiesforconsolidated

subsidiaries 2,696 2,158 2,323 4,330 2,650 616 14,773

Equity Companies

2010-Revenue

Salestothirdparties 1,012 - 5,050 - 12,682 - 18,744

Transfers 867 - 68 - 3,817 -

1,879 - 5,118 - 16,499 - 23,496

Productioncostsexcludingtaxes 481 - 294 - 320 -

Explorationexpenses 4 - 19 - 2 -

Depreciationanddepletion 157 - 188 - 455 -

Taxesotherthanincome 32 - 2,515 - 3,844 -

Relatedincometax - - 815 - 5,295 - 6,110

Resultsofproducingactivitiesforequitycompanies 1,205 - 1,287 - 6,583 -

Totalresultsofoperations 3,901 2,158 3,610 4,330 9,233 616 23,848

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Oil andGas Exploration andProduction Costs

Theamountsshownfornetcapitalizedcostsofconsolidatedsubsidiariesare$10,643millionlessatyear-end2012and$6,651millionlessat

year-end2011thantheamountsreportedasinvestmentsinproperty,plantandequipmentfortheUpstreaminNote9.Thisisduetothe

exclusionfromcapitalizedcostsofcertaintransportationandresearchassetsandassetsrelatingtoLNGoperations.Assetsrelatedtooil

sandsandoilshaleminingoperationshavebeenincludedinthecapitalizedcostsfor2012and2011inaccordancewithFinancialAccounting

StandardsBoardrules.

Canada/

United South Australia/

CapitalizedCosts States America Europe Africa Asia Oceania Total

(millions of dollars)

Consolidated Subsidiaries

AsofDecember31,2012

Property(acreage)costs -Proved 12,081 3,911 198 874 1,610 971 19,645

-Unproved 25,769 1,456 89 430 710 162 28,616

Totalpropertycosts 37,850 5,367 287 1,304 2,320 1,133 48,261

Producingassets 70,603 21,947 44,068 37,921 23,230 6,910 204,679

Incompleteconstruction 4,840 18,726 1,589 5,070 12,654 5,988 48,867

Totalcapitalizedcosts 113,293 46,040 45,944 44,295 38,204 14,031 301,807

Accumulateddepreciationanddepletion 36,346 17,357 34,267 21,285 16,599 4,801 130,655

Netcapitalizedcostsforconsolidatedsubsidiaries 76,947 28,683 11,677 23,010 21,605 9,230 171,152

Equity Companies

AsofDecember31,2012

Property(acreage)costs -Proved 76 - 5 - - -

-Unproved 39 - - - - -

Totalpropertycosts 115 - 5 - - -

Producingassets 4,216 - 5,736 - 8,169 - 18,121

Incompleteconstruction 304 - 118 - 822 -

Totalcapitalizedcosts 4,635 - 5,859 - 8,991 - 19,485

Accumulateddepreciationanddepletion 1,447 - 4,494 - 3,744 -

Netcapitalizedcostsforequitycompanies 3,188 - 1,365 - 5,247 -

Consolidated Subsidiaries

AsofDecember31,2011

Property(acreage)costs -Proved 10,969 3,837 96 919 1,567 954 18,342

-Unproved 25,398 1,402 67 430 755 128 28,180

Totalpropertycosts 36,367 5,239 163 1,349 2,322 1,082 46,522

Producingassets 65,941 20,393 40,646 32,059 22,675 6,035 187,749

Incompleteconstruction 4,652 12,385 964 9,831 9,922 4,131 41,885

Totalcapitalizedcosts 106,960 38,017 41,773 43,239 34,919 11,248 276,156

Accumulateddepreciationanddepletion 33,037 16,296 31,706 18,449 14,960 4,384 118,832

Netcapitalizedcostsforconsolidatedsubsidiaries 73,923 21,721 10,067 24,790 19,959 6,864 157,324

Equity Companies

AsofDecember31,2011

Property(acreage)costs -Proved 76 - 4 - - -

-Unproved 25 - - - - -

Totalpropertycosts 101 - 4 - - -

Producingassets 3,510 - 5,383 - 8,155 - 17,048

Incompleteconstruction 183 - 212 - 548 -

Totalcapitalizedcosts 3,794 - 5,599 - 8,703 - 18,096

Accumulateddepreciationanddepletion 1,354 - 4,267 - 3,068 -

Netcapitalizedcostsforequitycompanies 2,440 - 1,332 - 5,635 -

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Oil andGas Exploration andProduction Costs (continued)

Theamountsreportedascostsincurredincludebothcapitalizedcostsandcostschargedtoexpenseduringtheyear.Costsincurredalso

includenewassetretirementobligationsestablishedinthecurrentyear,aswellasincreasesordecreasestotheassetretirementobligation

resultingfromchangesincostestimatesorabandonmentdate.Totalconsolidatedcostsincurredin2012were$31,146million,up$392million

from2011,dueprimarilytohigherexplorationanddevelopmentcostspartiallyoffsetbylowerpropertyacquisitioncosts.2011costswere

$30,754million,down$40,058millionfrom2010,dueprimarilytotheabsenceoftheacquisitionofXTOEnergyInc.Totalequitycompany

costsincurredin2012were$1,404million,up$178millionfrom2011,dueprimarilytohigherdevelopmentcosts.

Canada/

Costs Incurredin Property Acquisitions, United South Australia/

Exploration andDevelopment Activities States America Europe Africa Asia Oceania Total

(millions of dollars)

During 2012

Consolidated Subsidiaries

Propertyacquisitioncosts-Proved 192 2 95 - 43 -

-Unproved 1,717 74 24 15 - 31

Explorationcosts 601 405 454 520 554 248

Developmentcosts 7,172 7,601 2,637 3,081 3,347 2,333 26,171

Totalcostsincurredforconsolidatedsubsidiaries 9,682 8,082 3,210 3,616 3,944 2,612 31,146

Equity Companies

Propertyacquisitioncosts-Proved - - - - - -

-Unproved 14 - - - - -

Explorationcosts 45 - 34 - - -

Developmentcosts 504 - 156 - 651 -

Totalcostsincurredforequitycompanies 563 - 190 - 651 -

During 2011

Consolidated Subsidiaries

Propertyacquisitioncosts-Proved 259 - - - 96 -

-Unproved 2,685 178 - - 546 -

Explorationcosts 465 372 640 303 518 154

Developmentcosts 8,166 5,478 1,899 4,316 2,969 1,710 24,538

Totalcostsincurredforconsolidatedsubsidiaries 11,575 6,028 2,539 4,619 4,129 1,864 30,754

Equity Companies

Propertyacquisitioncosts-Proved - - - - - -

-Unproved 23 - - - - -

Explorationcosts 19 - 32 - - -

Developmentcosts 339 - 164 - 649 -

Totalcostsincurredforequitycompanies 381 - 196 - 649 -

During 2010

Consolidated Subsidiaries

Propertyacquisitioncosts-Proved 21,633 - 41 3 115 - 21,792

-Unproved 23,509 136 23 - - - 23,668

Explorationcosts 690 527 550 453 545 228

Developmentcosts 7,947 4,757 1,227 4,390 2,892 1,146 22,359

Totalcostsincurredforconsolidatedsubsidiaries 53,779 5,420 1,841 4,846 3,552 1,374 70,812

Equity Companies

Propertyacquisitioncosts-Proved - - - - - -

-Unproved 1 - - - - -

Explorationcosts 4 - 56 - 2 -

Developmentcosts 323 - 225 - 303 -

Totalcostsincurredforequitycompanies 328 - 281 - 305 -

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Oil andGas Reserves

Thefollowinginformationdescribeschangesduringtheyearsandbalancesofprovedoilandgasreservesatyear-end2010,2011,and2012.

ThedefinitionsusedareinaccordancewiththeSecuritiesandExchangeCommission’sRule4-10(a)ofRegulationS-X.

Provedoilandgasreservesarethosequantitiesofoilandgas,which,byanalysisofgeoscienceandengineeringdata,canbeestimated

withreasonablecertaintytobeeconomicallyproducible–fromagivendateforward,fromknownreservoirs,andunderexistingeconomic

conditions,operatingmethodsandgovernmentregulations–priortothetimeatwhichcontractsprovidingtherighttooperateexpire,unless

evidenceindicatesthatrenewalisreasonablycertain.Insomecases,substantialnewinvestmentsinadditionalwellsandrelatedfacilitieswill

berequiredtorecovertheseprovedreserves.

InaccordancewiththeSecuritiesandExchangeCommission’srules,theyear-endreservesvolumesaswellasthereserveschange

categoriesshowninthefollowingtableswerecalculatedusingaveragepricesduringthe12-monthperiodpriortotheendingdateofthe

periodcoveredbythereport,determinedasanunweightedarithmeticaverageofthefirst-day-of-the-monthpriceforeachmonthwithinsuch

period.Thesereservesquantitiesarealsousedincalculatingunit-of-productiondepreciationratesandincalculatingthestandardized

measureofdiscountednetcashflow.

Revisionscanincludeupwardordownwardchangesinpreviouslyestimatedvolumesofprovedreservesforexistingfieldsduetothe

evaluationorre-evaluationof(1)alreadyavailablegeologic,reservoirorproductiondata,(2)newgeologic,reservoirorproductiondataor

(3)changesinaveragepricesandyear-endcoststhatareusedintheestimationofreserves.Thiscategorycanalsoincludesignificant

changesineitherdevelopmentstrategyorproductionequipment/facilitycapacity.

Provedreservesinclude100percentofeachmajority-ownedaffiliate’sparticipationinprovedreservesandExxonMobil’sownership

percentageoftheprovedreservesofequitycompanies,butexcluderoyaltiesandquantitiesdueothers.Gasreservesexcludethegaseous

equivalentofliquidsexpectedtoberemovedfromthegasonleases,atfieldfacilitiesandatgasprocessingplants.Theseliquidsare

includedinnetprovedreservesofcrudeoilandnaturalgasliquids.

Intheprovedreservestables,consolidatedreservesandequitycompanyreservesarereportedseparately.However,theCorporation

doesnotviewequitycompanyreservesanydifferentlythanthosefromconsolidatedcompanies.

Reservesreportedunderproductionsharingandothernonconcessionaryagreementsarebasedontheeconomicinterestasdefinedby

thespecificfiscaltermsintheagreement.Theproductionandreservesthatwereportforthesetypesofarrangementstypicallyvary

inverselywithoilandgaspricechanges.Asoilandgaspricesincrease,thecashflowandvaluereceivedbythecompanyincrease;

however,theproductionvolumesandreservesrequiredtoachievethisvaluewilltypicallybelowerbecauseofthehigherprices.When

pricesdecrease,theoppositeeffectgenerallyoccurs.Thepercentageoftotalliquidsandnaturalgasprovedreserves(consolidated

subsidiariesplusequitycompanies)atyear-end2012thatwereassociatedwithproductionsharingcontractarrangementswas12percentof

liquids,8percentofnaturalgasand10percentonanoil-equivalentbasis(gasconvertedtooil-equivalentat6billioncubicfeet=1million

barrels).

Netproveddevelopedreservesarethosevolumesthatareexpectedtoberecoveredthroughexistingwellswithexistingequipmentand

operatingmethodsorinwhichthecostoftherequiredequipmentisrelativelyminorcomparedtothecostofanewwell.Netproved

undevelopedreservesarethosevolumesthatareexpectedtoberecoveredfromnewwellsonundrilledacreage,orfromexistingwellswhere

arelativelymajorexpenditureisrequiredforrecompletion.

CrudeoilandnaturalgasliquidsandnaturalgasproductionquantitiesshownarethenetvolumeswithdrawnfromExxonMobil’soiland

gasreserves.Thenaturalgasquantitiesdifferfromthequantitiesofgasdeliveredforsalebytheproducingfunctionasreportedinthe

OperatingSummaryduetovolumesconsumedorflaredandinventorychanges.

InaccordancewiththeSecuritiesandExchangeCommission’srules,bitumenextractedthroughminingactivitiesandhydrocarbonsfrom

othernon-traditionalresourcesarereportedasoilandgasreservesbeginningin2009.

Therulesin2009adoptedareliabletechnologydefinitionthatpermitsreservestobeaddedbasedontechnologiesthathavebeenfield

testedandhavebeendemonstratedtoprovidereasonablycertainresultswithconsistencyandrepeatabilityintheformationbeing

evaluated.

Thechangesbetween2011year-endprovedreservesand2012year-endprovedreservesreflecttheextensionsanddiscoveriesinNorth

America.

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Crude Oil, Natural Gas Liquids, Synthetic Oil and Bitumen Proved Reserves

CrudeOilandNaturalGasLiquids Bitumen SyntheticOil

United Canada/ Australia/ Canada/ Canada/

States S.Amer.Europe Africa Asia Oceania Total S.Amer. S.Amer. Total

(millions of barrels)

Netproveddevelopedandundeveloped

reservesofconsolidatedsubsidiaries

January1,2010 1,616 172 487 1,907 1,999 288 6,469 2,055 691

Revisions 57 10 53 89 49 7 265 89 14

Improvedrecovery 4 - - - - 1 5 - -

Purchases 374 - - - 4 - 378 - -

Sales (19) - - (2) - - (21) - -

Extensions/discoveries 43 11 4 34 90 - 182 - -

Production (123) (30) (121) (229) (119) (21) (643) (42) (24)

December31,2010 1,952 163 423 1,799 2,023 275 6,635 2,102 681

Proportionalinterestinprovedreservesof

equitycompanies

January1,2010 356 - 30 - 2,050 - 2,436 - -

Revisions 17 - 3 - (30) - (10) - -

Improvedrecovery - - - - - - - - -

Purchases - - - - - - - - -

Sales - - - - - - - - -

Extensions/discoveries 3 - - - - - 3 - -

Production (25) - (2) - (147) - (174) - -

December31,2010 351 - 31 - 1,873 - 2,255 - -

Totalliquidsprovedreservesat

December31,2010 2,303 163 454 1,799 3,896 275 8,890 2,102 681 11,673

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Crude Oil, Natural Gas Liquids, Synthetic Oil and Bitumen Proved Reserves (continued)

NaturalGas

CrudeOil Liquids(1) Bitumen SyntheticOil

United Canada/ Australia/ Canada/ Canada/

States S.Amer.Europe Africa Asia Oceania Total Worldwide S.Amer. S.Amer. Total

(millions of barrels)

Netproveddevelopedand

undevelopedreservesof

consolidatedsubsidiaries

January1,2011 1,679 138 350 1,589 1,839 178 5,773 862 2,102 681

Revisions 29 10 68 52 (55) 5 109 106 53 (4)

Improvedrecovery - - - - - - - - - -

Purchases 2 - - - - - 2 14 - -

Sales (3) (11) (24) - - - (38) (14) - -

Extensions/discoveries 55 - 3 1 57 - 116 18 995 -

Production (102) (19) (80) (179) (120) (13) (513) (81) (44) (24)

December31,2011 1,660 118 317 1,463 1,721 170 5,449 905 3,106 653 10,113

Proportionalinterestinproved

reservesofequitycompanies

January1,2011 350 - 31 - 1,394 - 1,775 480 - -

Revisions 24 - - - (21) - 3 3 - -

Improvedrecovery - - - - - - - - - -

Purchases - - - - - - - - - -

Sales (2) - - - - - (2) - - -

Extensions/discoveries - - - - 12 - 12 25 - -

Production (24) - (2) - (130) - (156) (25) - -

December31,2011 348 - 29 - 1,255 - 1,632 483 - -

Totalliquidsprovedreserves

atDecember31,2011 2,008 118 346 1,463 2,976 170 7,081 1,388 3,106 653 12,228

Netproveddevelopedand

undevelopedreservesof

consolidatedsubsidiaries

January1,2012 1,660 118 317 1,463 1,721 170 5,449 905 3,106 653 10,113

Revisions 25 33 14 20 (10) 5 87 3 265 (29)

Improvedrecovery 6 - - - 1 - 7 - - -

Purchases 163 - 20 - - - 183 36 - -

Sales (15) (1) (8) (58) - - (82) (4) - -

Extensions/discoveries 166 138 8 41 9 - 362 164 234 -

Production (100) (18) (62) (173) (117) (12) (482) (73) (45) (25)

December31,2012 1,905 270 289 1,293 1,604 163 5,524 1,031 3,560 599 10,714

Proportionalinterestinproved

reservesofequitycompanies

January1,2012 348 - 29 - 1,255 - 1,632 483 - -

Revisions (2) - 1 - 131 - 130 15 - -

Improvedrecovery 16 - - - - - 16 - - -

Purchases - - - - - - - - - -

Sales - - - - - - - - - -

Extensions/discoveries - - - - - - - - - -

Production (22) - (2) - (126) - (150) (24) - -

December31,2012 340 - 28 - 1,260 - 1,628 474 - -

Totalliquidsprovedreserves

atDecember31,2012 2,245 270 317 1,293 2,864 163 7,152 1,505 3,560 599 12,816

(1) Includes total proved reserves attributable to Imperial Oil Limited of 10 million barrels in 2011 and 9 million barrels in 2012, as well as proved

developed reserves of 10 million barrels in 2011 and 9 million barrels in 2012, in which there is a 30.4 percent noncontrolling interest.
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Crude Oil, Natural Gas Liquids, Synthetic Oil and Bitumen Proved Reserves (continued)

Synthetic

CrudeOilandNaturalGasLiquids Bitumen Oil

Canada/ Canada/ Canada/

United South Australia/ South South

States Amer.(1) Europe Africa Asia Oceania Total Amer.(2) Amer.(3) Total

(millions of barrels)

Proveddevelopedreserves,asof

December31,2010

Consolidatedsubsidiaries 1,478 133 361 1,055 1,306 139 4,472 519 681

Equitycompanies 271 - 21 - 1,623 - 1,915 - -

Provedundevelopedreserves,asof

December31,2010

Consolidatedsubsidiaries 474 30 62 744 717 136 2,163 1,583 -

Equitycompanies 80 - 10 - 250 - 340 - -

Totalliquidsprovedreservesat

December31,2010 2,303 163 454 1,799 3,896 275 8,890 2,102 681 11,673

Proveddevelopedreserves,asof

December31,2011

Consolidatedsubsidiaries 1,452 109 302 1,050 1,160 126 4,199 519 653

Equitycompanies 270 - 28 - 1,457 - 1,755 - -

Provedundevelopedreserves,asof

December31,2011

Consolidatedsubsidiaries 567 26 74 625 727 136 2,155 2,587 -

Equitycompanies 83 - 1 - 276 - 360 - -

Totalliquidsprovedreservesat

December31,2011 2,372 135 405 1,675 3,620 262 8,469 3,106 653 12,228

Proveddevelopedreserves,asof

December31,2012

Consolidatedsubsidiaries 1,489 124 268 1,004 1,080 116 4,081 543 599 5,223

Equitycompanies 264 - 28 - 1,423 - 1,715 - - 1,715

Provedundevelopedreserves,asof

December31,2012

Consolidatedsubsidiaries 921 163 77 497 682 134 2,474 3,017 - 5,491

Equitycompanies 84 - - - 303 - 387 - -

Totalliquidsprovedreservesat

December31,2012 2,758 287 373 1,501 3,488 250 8,657(4) 3,560 599 12,816

(1) Includes total proved reserves attributable to Imperial Oil Limited of 57 million barrels in 2010, 55 million barrels in 2011 and 53 million barrels in

2012, as well as proved developed reserves of 56 million barrels in 2010, 55 million barrels in 2011 and 52 million barrels in 2012, and in addition,

proved undeveloped reserves of 1 million barrels in both 2010 and 2012, in which there is a 30.4 percent noncontrolling interest.

(2) Includes total proved reserves attributable to Imperial Oil Limited of 1,715 million barrels in 2010, 2,413 million barrels in 2011 and 2,841 million

barrels in 2012, as well as proved developed reserves of 519 million barrels in 2010, 519 million barrels in 2011 and 543 million barrels in 2012, and

in addition, proved undeveloped reserves of 1,196 million barrels in 2010, 1,894 million barrels in 2011 and 2,298 million barrels in 2012, in which

there is a 30.4 percent noncontrolling interest.

(3) Includes total proved reserves attributable to Imperial Oil Limited of 681 million barrels in 2010, 653 million barrels in 2011 and 599 million barrels

in 2012, as well as proved developed reserves of 681 million barrels in 2010, 653 million barrels in 2011 and 599 million barrels in 2012, in which

there is a 30.4 percent noncontrolling interest.

(4) See previous page for natural gas liquids proved reserves attributable to consolidated subsidiaries and equity companies. For additional information

on natural gas liquids proved reserves see Item 2. Properties in ExxonMobil’s 2012 Form 10-K.

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Natural Gas andOil-Equivalent ProvedReserves

NaturalGas

Canada/ Oil-Equivalent

United South Australia/ Total

States Amer.(1) Europe Africa Asia Oceania Total All Products

(billions of cubic feet) (millions of oilequivalent barrels)

Netproveddevelopedandundeveloped

reservesofconsolidatedsubsidiaries

January1,2010 11,688 1,368 4,723 920 8,303 7,440 34,442 14,955

Revisions 832 123 (26) 6 (333) 42 644 475

Improvedrecovery - - - - - - - 5

Purchases 12,774 - 15 - - - 12,789 2,510

Sales (104) (2) - - - - (106) (38)

Extensions/discoveries 1,861 3 49 25 25 1 1,964 509

Production (1,057) (234) (719) (43) (735) (132) (2,920) (1,196)

December31,2010 25,994 1,258 4,042 908 7,260 7,351 46,813 17,220

Proportionalinterestinprovedreserves

ofequitycompanies

January1,2010 114 - 11,450 - 22,001 - 33,565 8,030

Revisions 8 - (4) - 231 - 235 30

Improvedrecovery - - - - - - - -

Purchases - - - - - - - -

Sales - - - - - - - -

Extensions/discoveries - - 24 - - - 24 7

Production (5) - (724) - (1,093) - (1,822) (478)

December31,2010 117 - 10,746 - 21,139 - 32,002 7,589

TotalprovedreservesatDecember31,2010 26,111 1,258 14,788 908 28,399 7,351 78,815 24,809

Netproveddevelopedandundeveloped

reservesofconsolidatedsubsidiaries

January1,2011 25,994 1,258 4,042 908 7,260 7,351 46,813 17,220

Revisions (236) 55 310 113 (231) 28 39 271

Improvedrecovery - - - - - - - -

Purchases 303 - - - - - 303 67

Sales (32) (347) (140) - - - (519) (138)

Extensions/discoveries 1,779 42 29 - 192 - 2,042 1,469

Production (1,554) (173) (655) (39) (750) (132) (3,303) (1,213)

December31,2011 26,254 835 3,586 982 6,471 7,247 45,375 17,676

Proportionalinterestinprovedreserves

ofequitycompanies

January1,2011 117 - 10,746 - 21,139 - 32,002 7,589

Revisions 1 - 53 - (29) - 25 10

Improvedrecovery - - - - - - - -

Purchases - - - - - - - -

Sales (1) - (3) - - - (4) (3)

Extensions/discoveries - - 13 - 627 - 640 144

Production (5) - (640) - (1,171) - (1,816) (484)

December31,2011 112 - 10,169 - 20,566 - 30,847 7,256

TotalprovedreservesatDecember31,2011 26,366 835 13,755 982 27,037 7,247 76,222 24,932

(See footnotes on next page)

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Natural Gas andOil-Equivalent ProvedReserves (continued)

NaturalGas

Canada/ Oil-Equivalent

United South Australia/ Total

States Amer.(1) Europe Africa Asia Oceania Total All Products

(billions of cubic feet) (millions of oilequivalent barrels)

Netproveddevelopedandundeveloped

reservesofconsolidatedsubsidiaries

January1,2012 26,254 835 3,586 982 6,471 7,247 45,375 17,676

Revisions (2,888) 168 168 2 (106) 465 (2,191) (39)

Improvedrecovery - - - - - - - 7

Purchases 503 - 6 - - - 509 304

Sales (181) (20) (140) (12) - - (353) (145)

Extensions/discoveries 4,045 95 184 - 59 - 4,383 1,490

Production (1,518) (153) (555) (43) (579) (144) (2,992) (1,124)

December31,2012 26,215 925 3,249 929 5,845 7,568 44,731 18,169

Proportionalinterestinprovedreserves

ofequitycompanies

January1,2012 112 - 10,169 - 20,566 - 30,847 7,256

Revisions 49 - 17 - 252 - 318 198

Improvedrecovery - - - - - - - 16

Purchases - - - - - - - -

Sales - - - - - - - -

Extensions/discoveries - - - - - - - -

Production (6) - (651) - (1,148) - (1,805) (475)

December31,2012 155 - 9,535 - 19,670 - 29,360 6,995

TotalprovedreservesatDecember31,2012 26,370 925 12,784 929 25,515 7,568 74,091 25,164

(1) Includes total proved reserves attributable to Imperial Oil Limited of 576 billion cubic feet in 2010, 422 billion cubic feet in 2011

and 488 billion cubic feet in 2012, as well as proved developed reserves of 507 billion cubic feet in 2010, 360 billion cubic feet in

2011 and 374 billion cubic feet in 2012, and in addition, proved undeveloped reserves of 69 billion cubic feet in 2010, 62 billion

cubic feet in 2011 and 114 billion cubic feet in 2012, in which there is a 30.4 percent noncontrolling interest.

(2) Natural gas is converted to oil-equivalent basis at six million cubic feet per one thousand barrels.

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Natural Gas andOil-Equivalent ProvedReserves (continued)

NaturalGas

Canada/ Oil-Equivalent

United South Australia/ Total

States Amer.(1) Europe Africa Asia Oceania Total All Products

(billions of cubic feet) (millions of oilequivalent barrels)

Proveddevelopedreserves,asof

December31,2010

Consolidatedsubsidiaries 15,344 1,077 3,516 711 6,593 1,174 28,415 10,408

Equitycompanies 97 - 8,167 - 20,494 - 28,758 6,708

Provedundevelopedreserves,asof

December31,2010

Consolidatedsubsidiaries 10,650 181 526 197 667 6,177 18,398 6,812

Equitycompanies 20 - 2,579 - 645 - 3,244 881

TotalprovedreservesatDecember31,2010 26,111 1,258 14,788 908 28,399 7,351 78,815 24,809

Proveddevelopedreserves,asof

December31,2011

Consolidatedsubsidiaries 15,450 658 3,041 853 5,762 1,070 26,834 9,843

Equitycompanies 83 - 7,588 - 19,305 - 26,976 6,251

Provedundevelopedreserves,asof

December31,2011

Consolidatedsubsidiaries 10,804 177 545 129 709 6,177 18,541 7,833

Equitycompanies 29 - 2,581 - 1,261 - 3,871 1,005

TotalprovedreservesatDecember31,2011 26,366 835 13,755 982 27,037 7,247 76,222 24,932

Proveddevelopedreserves,asof

December31,2012

Consolidatedsubsidiaries 14,471 670 2,526 814 5,150 1,012 24,643 9,330

Equitycompanies 126 - 7,057 - 18,431 - 25,614 5,984

Provedundevelopedreserves,asof

December31,2012

Consolidatedsubsidiaries 11,744 255 723 115 695 6,556 20,088 8,839

Equitycompanies 29 - 2,478 - 1,239 - 3,746 1,011

TotalprovedreservesatDecember31,2012 26,370 925 12,784 929 25,515 7,568 74,091 25,164

(See footnotes on previous page)

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StandardizedMeasure of DiscountedFuture Cash Flows

AsrequiredbytheFinancialAccountingStandardsBoard,thestandardizedmeasureofdiscountedfuturenetcashflowsiscomputedby

applyingfirst-day-of-the-monthaverageprices,year-endcostsandlegislatedtaxratesandadiscountfactorof10percenttonetproved

reserves.Thestandardizedmeasureincludescostsforfuturedismantlement,abandonmentandrehabilitationobligations.TheCorporation

believesthestandardizedmeasuredoesnotprovideareliableestimateoftheCorporation’sexpectedfuturecashflowstobeobtainedfrom

thedevelopmentandproductionofitsoilandgaspropertiesorofthevalueofitsprovedoilandgasreserves.Thestandardizedmeasureis

preparedonthebasisofcertainprescribedassumptionsincludingfirst-day-of-the-monthaverageprices,whichrepresentdiscretepointsin

timeandthereforemaycausesignificantvariabilityincashflowsfromyeartoyearaspriceschange.

Canada/

StandardizedMeasure of Discounted United South Australia/

Future Cash Flows States America(1) Europe Africa Asia Oceania Total

(millions of dollars)

ConsolidatedSubsidiaries

AsofDecember31,2010

Futurecashinflowsfromsalesofoilandgas 221,298 184,671 60,086 137,476 156,337 55,087 814,955

Futureproductioncosts 76,992 69,765 15,246 31,189 36,318 16,347 245,857

Futuredevelopmentcosts 28,905 22,130 12,155 15,170 13,716 11,652 103,728

Futureincometaxexpenses 44,128 21,798 21,736 46,145 59,477 9,591 202,875

Futurenetcashflows 71,273 70,978 10,949 44,972 46,826 17,497 262,495

Effectofdiscountingnetcashflowsat10% 39,545 45,607 2,765 18,046 28,883 13,411 148,257

Discountedfuturenetcashflows 31,728 25,371 8,184 26,926 17,943 4,086 114,238

EquityCompanies

AsofDecember31,2010

Futurecashinflowsfromsalesofoilandgas 26,110 - 73,222 - 232,334 - 331,666

Futureproductioncosts 6,369 - 49,010 - 73,508 - 128,887

Futuredevelopmentcosts 2,883 - 2,719 - 2,523 -

Futureincometaxexpenses - - 8,348 - 57,041 - 65,389

Futurenetcashflows 16,858 - 13,145 - 99,262 - 129,265

Effectofdiscountingnetcashflowsat10% 9,612 - 6,857 - 51,512 - 67,981

Discountedfuturenetcashflows 7,246 - 6,288 - 47,750 - 61,284

Totalconsolidatedandequityinterestsin

standardizedmeasureofdiscounted

futurenetcashflows 38,974 25,371 14,472 26,926 65,693 4,086 175,522

(1) Includes discounted future net cash flows attributable to Imperial Oil Limited of $19,834 million in 2010, in which there is a 30.4

percent noncontrolling interest.

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Canada/

StandardizedMeasure of Discounted United South Australia/

Future Cash Flows (continued) States America(1) Europe Africa Asia Oceania Total

(millions of dollars)

ConsolidatedSubsidiaries

AsofDecember31,2011

Futurecashinflowsfromsalesofoilandgas 264,991 280,991 71,847 179,337 203,007 86,456 1,086,629

Futureproductioncosts 105,391 98,135 15,045 36,309 43,442 23,381 321,703

Futuredevelopmentcosts 31,452 35,121 11,987 15,384 16,010 10,052 120,006

Futureincometaxexpenses 53,507 34,542 32,004 67,256 79,975 17,287 284,571

Futurenetcashflows 74,641 113,193 12,811 60,388 63,580 35,736 360,349

Effectofdiscountingnetcashflowsat10% 42,309 79,303 3,525 22,029 38,066 22,873 208,105

Discountedfuturenetcashflows 32,332 33,890 9,286 38,359 25,514 12,863 152,244

EquityCompanies

AsofDecember31,2011

Futurecashinflowsfromsalesofoilandgas 37,398 - 88,417 - 324,283 - 450,098

Futureproductioncosts 6,862 - 62,377 - 104,040 - 173,279

Futuredevelopmentcosts 3,072 - 2,701 - 3,636 -

Futureincometaxexpenses - - 9,035 - 76,825 - 85,860

Futurenetcashflows 27,464 - 14,304 - 139,782 - 181,550

Effectofdiscountingnetcashflowsat10% 15,941 - 7,131 - 71,918 - 94,990

Discountedfuturenetcashflows 11,523 - 7,173 - 67,864 - 86,560

Totalconsolidatedandequityinterestsin

standardizedmeasureofdiscounted

futurenetcashflows 43,855 33,890 16,459 38,359 93,378 12,863 238,804

ConsolidatedSubsidiaries

AsofDecember31,2012

Futurecashinflowsfromsalesofoilandgas 250,382 293,910 66,769 160,261 192,491 104,334 1,068,147

Futureproductioncosts 109,325 101,299 17,277 33,398 42,816 26,132 330,247

Futuredevelopmentcosts 37,504 44,518 16,505 13,363 13,083 11,435 136,408

Futureincometaxexpenses 43,772 34,692 23,252 63,246 75,261 21,405 261,628

Futurenetcashflows 59,781 113,401 9,735 50,254 61,331 45,362 339,864

Effectofdiscountingnetcashflowsat10% 36,578 82,629 2,097 18,091 35,310 27,610 202,315

Discountedfuturenetcashflows 23,203 30,772 7,638 32,163 26,021 17,752 137,549

EquityCompanies

AsofDecember31,2012

Futurecashinflowsfromsalesofoilandgas 36,043 - 93,563 - 348,026 - 477,632

Futureproductioncosts 7,040 - 64,988 - 112,980 - 185,008

Futuredevelopmentcosts 3,708 - 2,569 - 10,780 - 17,057

Futureincometaxexpenses - - 9,937 - 78,539 - 88,476

Futurenetcashflows 25,295 - 16,069 - 145,727 - 187,091

Effectofdiscountingnetcashflowsat10% 14,741 - 8,133 - 76,979 - 99,853

Discountedfuturenetcashflows 10,554 - 7,936 - 68,748 - 87,238

Totalconsolidatedandequityinterestsin

standardizedmeasureofdiscounted

futurenetcashflows 33,757 30,772 15,574 32,163 94,769 17,752 224,787

(1) Includes discounted future net cash flows attributable to Imperial Oil Limited of $27,568 million in 2011 and $24,690 million in

2012, in which there is a 30.4 percent noncontrolling interest.

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Change in StandardizedMeasure of DiscountedFuture Net Cash Flows Relating to ProvedOil andGas Reserves

ConsolidatedandEquity Interests 2010

Total

Share of Consolidated

Consolidated Equity Method and Equity

Subsidiaries Investees Interests

(millions of dollars)

DiscountedfuturenetcashflowsasofDecember31,2009 65,846 49,310 115,156

Valueofreservesaddedduringtheyearduetoextensions,discoveries,

improvedrecoveryandnetpurchaseslessrelatedcosts 20,093 210 20,303

Changesinvalueofprevious-yearreservesdueto:

Salesandtransfersofoilandgasproducedduringtheyear,netof

production(lifting)costs (46,078) (16,050) (62,128)

Developmentcostsincurredduringtheyear 20,975 843 21,818

Netchangeinprices,liftinganddevelopmentcosts 61,612 23,135 84,747

Revisionsofpreviousreservesestimates 14,770 3,605 18,375

Accretionofdiscount 10,399 5,775 16,174

Netchangeinincometaxes (33,379) (5,544) (38,923)

Totalchangeinthestandardizedmeasureduringtheyear 48,392 11,974 60,366

DiscountedfuturenetcashflowsasofDecember31,2010 114,238 61,284 175,522

ConsolidatedandEquity Interests 2011

Total

Share of Consolidated

Consolidated Equity Method and Equity

Subsidiaries Investees Interests

(millions of dollars)

DiscountedfuturenetcashflowsasofDecember31,2010 114,238 61,284 175,522

Valueofreservesaddedduringtheyearduetoextensions,discoveries,

improvedrecoveryandnetpurchaseslessrelatedcosts 6,608 309 6,917

Changesinvalueofprevious-yearreservesdueto:

Salesandtransfersofoilandgasproducedduringtheyear,netof

production(lifting)costs (58,308) (22,402) (80,710)

Developmentcostsincurredduringtheyear 22,843 1,153 23,996

Netchangeinprices,liftinganddevelopmentcosts 79,435 46,304 125,739

Revisionsofpreviousreservesestimates 10,462 3,127 13,589

Accretionofdiscount 16,802 7,196 23,998

Netchangeinincometaxes (39,836) (10,411) (50,247)

Totalchangeinthestandardizedmeasureduringtheyear 38,006 25,276 63,282

DiscountedfuturenetcashflowsasofDecember31,2011 152,244 86,560 238,804

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Change in StandardizedMeasure of DiscountedFuture Net Cash Flows Relating to ProvedOil andGas Reserves

ConsolidatedandEquity Interests (continued) 2012

Total

Share of Consolidated

Consolidated Equity Method and Equity

Subsidiaries Investees Interests

(millions of dollars)

DiscountedfuturenetcashflowsasofDecember31,2011 152,244 86,560 238,804

Valueofreservesaddedduringtheyearduetoextensions,discoveries,

improvedrecoveryandnetpurchaseslessrelatedcosts 7,952 531 8,483

Changesinvalueofprevious-yearreservesdueto:

Salesandtransfersofoilandgasproducedduringtheyear,netof

production(lifting)costs (51,752) (23,022) (74,774)

Developmentcostsincurredduringtheyear 24,596 1,186 25,782

Netchangeinprices,liftinganddevelopmentcosts (31,382) 5,656 (25,726)

Revisionsofpreviousreservesestimates 3,876 7,018 10,894

Accretionofdiscount 19,676 8,846 28,522

Netchangeinincometaxes 12,339 463 12,802

Totalchangeinthestandardizedmeasureduringtheyear (14,695) 678 (14,017)

DiscountedfuturenetcashflowsasofDecember31,2012 137,549 87,238 224,787

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OPERATINGSUMMARY(unaudited)

2012 2011 2010 2009

Productionofcrudeoil,naturalgasliquids,syntheticoilandbitumen

Netproduction (thousands of barrels daily)

UnitedStates 418 423 408 384

Canada/SouthAmerica 251 252 263 267

Europe 207 270 335 379

Africa 487 508 628 685

Asia 772 808 730 607

Australia/Oceania 50 51 58 65

Worldwide 2,185 2,312 2,422 2,387

Naturalgasproductionavailableforsale

Netproduction (millions of cubic feet daily)

UnitedStates 3,822 3,917 2,596 1,275

Canada/SouthAmerica 362 412 569 643

Europe 3,220 3,448 3,836 3,689

Africa 17 7 14 19

Asia 4,538 5,047 4,801 3,332

Australia/Oceania 363 331 332 315

Worldwide 12,322 13,162 12,148 9,273

(thousands of oil-equivalent barrels daily)

Oil-equivalentproduction(1) 4,239 4,506 4,447 3,932

Refinerythroughput (thousands of barrels daily)

UnitedStates 1,816 1,784 1,753 1,767

Canada 435 430 444 413

Europe 1,504 1,528 1,538 1,548

AsiaPacific 998 1,180 1,249 1,328

OtherNon-U.S. 261 292 269 294

Worldwide 5,014 5,214 5,253 5,350

Petroleumproductsales(2)

UnitedStates 2,569 2,530 2,511 2,523

Canada 453 455 450 413

Europe 1,571 1,596 1,611 1,625

AsiaPacificandotherEasternHemisphere 1,381 1,556 1,562 1,588

LatinAmerica 200 276 280 279

Worldwide 6,174 6,413 6,414 6,428

Gasoline,naphthas 2,489 2,541 2,611 2,573

Heatingoils,kerosene,dieseloils 1,947 2,019 1,951 2,013

Aviationfuels 473 492 476 536

Heavyfuels 515 588 603 598

Specialtypetroleumproducts 750 773 773 708

Worldwide 6,174 6,413 6,414 6,428

Chemicalprimeproductsales (thousands of metric tons)

UnitedStates 9,381 9,250 9,815 9,649

Non-U.S. 14,776 15,756 16,076 15,176 15,456

Worldwide 24,157 25,006 25,891 24,825 24,982

Operating statistics include 100 percent of operations of majority-owned subsidiaries; for other companies, crude production, gas,

petroleum product and chemical prime product sales include ExxonMobil’s ownership percentage and refining throughput includes

quantities processed for ExxonMobil. Net production excludes royalties and quantities due others when produced, whether payment is

made in kind or cash.

(1) Gas converted to oil-equivalent at 6 million cubic feet = 1 thousand barrels.

(2) Petroleum product sales data reported net of purchases/sales contracts with the same counterparty.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report

to be signedon its behalf by the undersigned, thereunto duly authorized.

EXXONMOBILCORPORATION

By: /s/ REXW.TILLERSON

(RexW.Tillerson,

ChairmanoftheBoard)

DatedFebruary27,2013

POWER OF ATTORNEY

Each person whose signature appears belowconstitutes andappoints Randall M. Ebner, LeonardM. Fox andCatherine C. Shae andeach

of them, his or her true andlawful attorneys-in-fact andagents, with full power of substitution andresubstitution, for him or her andin his

or her name, place and stead, in any andall capacities, to sign any andall amendments to this Annual Report on Form 10-K, andto file the

same, with all exhibits thereto, andother documents in connection therewith, with the Securities andExchange Commission, granting unto

said attorneys-in-fact and agents, andeach of them, full power and authority to do andperform each and every act and thing requisite and

necessary to be done, as fully to all intents and purposes as he or she might or coulddo in person, hereby ratifying andconfirming all that

said attorneys-in-fact and agents or any of them, or their or his or her substitute or substitutes, may lawfully do or cause to be done by

virtue hereof.

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on

behalf of the registrant andin the capacities indicatedandon February 27, 2013.

/s/ REXW.TILLERSON

(RexW.Tillerson)

ChairmanoftheBoard

(PrincipalExecutiveOfficer)

/s/ MICHAELJ.BOSKIN

(MichaelJ.Boskin)

Director

/s/ PETERBRABECK-LETMATHE

(PeterBrabeck-Letmathe)

Director

/s/ URSULAM.BURNS

(UrsulaM.Burns)

Director

/s/ LARRYR.FAULKNER

(LarryR.Faulkner)

Director

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/s/ JAYS.FISHMAN

(JayS.Fishman)

Director

/s/ HENRIETTAH.FORE

(HenriettaH.Fore)

Director

/s/ KENNETHC.FRAZIER

(KennethC.Frazier)

Director

/s/ WILLIAMW.GEORGE

(WilliamW.George)

Director

/s/ SAMUELJ.PALMISANO

(SamuelJ.Palmisano)

Director

/s/ STEVENSREINEMUND

(StevenSReinemund)

Director

/s/ EDWARDE.WHITACRE,JR.

(EdwardE.Whitacre,Jr.)

Director

/s/ ANDREW P.SWIGER

(AndrewP.Swiger)

SeniorVicePresident

(PrincipalFinancialOfficer)

/s/ PATRICKT.MULVA

(PatrickT.Mulva)

VicePresidentandController

(PrincipalAccountingOfficer)

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INDEX TO EXHIBITS

3(i) RestatedCertificateofIncorporation,asrestatedNovember30,1999,andasfurtheramendedeffectiveJune20,2001

(incorporatedbyreferencetoExhibit3(i)totheRegistrant’sQuarterlyReportonForm10-QforthequarterendedJune30,

2011).

3(ii) By-Laws,asrevisedtoApril27,2011(incorporatedbyreferencetoExhibit3(ii)totheRegistrant’sReportonForm8-KonApril

29,2011).

10(iii)(a.1) 2003IncentiveProgram,asapprovedbyshareholdersMay28,2003.*

10(iii)(a.2) Formofrestrictedstockagreementwithexecutiveofficers(incorporatedbyreferencetoExhibit99.2totheRegistrant’sReport

onForm8-KofNovember28,2012).*

10(iii)(a.3) ExtendedProvisionsforRestrictedStockUnitAgreements-SettlementinShares.*

10(iii)(b.1) ShortTermIncentiveProgram,asamended(incorporatedbyreferencetoExhibit99.3totheRegistrant’sReportonForm8-K

onDecember1,2009).*

10(iii)(b.2) FormofEarningsBonusUnitinstrumentgrantedtoexecutiveofficers(incorporatedbyreferencetoExhibit99.1tothe

Registrant’sReportonForm8-KonNovember28,2012).*

10(iii)(c.1) ExxonMobilSupplementalSavingsPlan(incorporatedbyreferencetoExhibit10(iii)(c.1)totheRegistrant’sAnnualReporton

Form10-Kfor2011).*

10(iii)(c.2) ExxonMobilSupplementalPensionPlan(incorporatedbyreferencetoExhibit10(iii)(c.2)totheRegistrant’sAnnualReporton

Form10-Kfor2011).*

10(iii)(c.3) ExxonMobilAdditionalPaymentsPlan(incorporatedbyreferencetoExhibit10(iii)(c.3)totheRegistrant’sAnnualReporton

Form10-Kfor2011).*

10(iii)(d) ExxonMobilExecutiveLifeInsuranceandDeathBenefitPlan(incorporatedbyreferencetoExhibit10(iii)(d)totheRegistrant’s

AnnualReportonForm10-Kfor2011).*

10(iii)(f.1) 2004Non-EmployeeDirectorRestrictedStockPlan(incorporatedbyreferencetoExhibit10(iii)(f.1)totheRegistrant’sQuarterly

ReportonForm10-QforthequarterendedMarch31,2009).*

10(iii)(f.2) Standingresolutionfornon-employeedirectorrestrictedgrantsdatedSeptember26,2007(incorporatedbyreferenceto

Exhibit10(iii)(f.2)totheRegistrant’sQuarterlyReportonForm10-QforthequarterendedSeptember30,2012).*

10(iii)(f.3) Form ofrestrictedstockgrantletterfornon-employeedirectors(incorporatedbyreferencetoExhibit10(iii)(f.3)tothe

Registrant’sAnnualReportonForm10-Kfor2009).*

10(iii)(f.4) Standingresolutionfornon-employeedirectorcashfeesdatedOctober26,2011(incorporatedbyreferencetoExhibit10(iii)(f.4)

totheRegistrant’sQuarterlyReportonForm10-QforthequarterendedSeptember30,2011).*

10(iii)(g.3) 1984MobilCompensationManagementRetentionPlan(incorporatedbyreferencetoExhibit10(iii)(g.3)totheRegistrant’s

AnnualReportonForm10-Kfor2011).*

12 Computationofratioofearningstofixedcharges.

14 CodeofEthicsandBusinessConduct(incorporatedbyreferencetoExhibit14totheRegistrant’sAnnualReportonForm10-K

for2008).

21 Subsidiariesoftheregistrant.

23 ConsentofPricewaterhouseCoopersLLP,IndependentRegisteredPublicAccountingFirm.

31.1 Certification(pursuanttoSecuritiesExchangeActRule13a-14(a))byChiefExecutiveOfficer.

31.2 Certification(pursuanttoSecuritiesExchangeActRule13a-14(a))byPrincipalFinancialOfficer.

31.3 Certification(pursuanttoSecuritiesExchangeActRule13a-14(a))byPrincipalAccountingOfficer.

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INDEX TO EXHIBITS – (continued)

32.1 Section1350Certification(pursuanttoSarbanes-OxleySection906)byChiefExecutiveOfficer.

32.2 Section1350Certification(pursuanttoSarbanes-OxleySection906)byPrincipalFinancialOfficer.

32.3 Section1350Certification(pursuanttoSarbanes-OxleySection906)byPrincipalAccountingOfficer.

101 Interactivedatafiles.

* CompensatoryplanorarrangementrequiredtobeidentifiedpursuanttoItem15(a)(3)ofthisAnnualReportonForm10-K.

Theregistranthasnotfiledwiththisreportcopiesoftheinstrumentsdefiningtherightsofholdersoflong-termdebtoftheregistrantand

itssubsidiariesforwhichconsolidatedorunconsolidatedfinancialstatementsarerequiredtobefiled.Theregistrantagreestofurnishacopy

ofanysuchinstrumenttotheSecuritiesandExchangeCommissionuponrequest.

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