Exxon Mobil Corporation (XOM, NYSE)
Industry: Oil & Gas Integrated
Annual report, fiscal year 2010


## ExxonMobil

Taking on the world’s toughest energy challenges. \( ^{™} \) 






To Our Shareholders 2
The Energy Challenge 4
Financial Highlights/Corporate Overview 10
Upstream 12
Downstream 20
Chemical 26
Financial Summary 31
Frequently Used Terms 36
Directors, Officers, and Affiliated Companies 38
Investor Information 40
General Information 41

The term Upstream refers to exploration, development, production, and gas and power marketing. Downstream refers to the refining and marketing of petroleum products such as motor fuels and lubricants.

Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans, are forward-looking statements. Actual future results, including demand growth and energy mix; capacity growth; the impact of new technologies; capital expenditures; project plans, dates, costs, and capacities; production rates and resource recoveries; efficiency gains; cost savings; and product sales could differ materially due to, for example, changes in oil and gas prices or other market conditions affecting the oil and gas industry; reservoir performance; timely completion of development projects; war and other political or security disturbances; changes in law or government regulation; the actions of competitors and customers; unexpected technological developments; the occurrence and duration of economic recessions; the outcome of commercial negotiations; unforeseen technical difficulties; unanticipated operational disruptions; changes in employee recruitment and retention; and other factors discussed in this report and in Item 1A of ExxonMobil's most recent Form 10-K.

Definitions of certain financial and operating measures and other terms used in this report are contained in the section titled “Frequently Used Terms” on pages 36 and 37. In the case of financial measures, the definitions also include information required by SEC Regulation G.

“Factors Affecting Future Results” and “Frequently Used Terms” are also posted on the “investors” section of our Web site.

Prior years’ data have been reclassified in certain cases to conform to the 2010 presentation basis.

ExxonMobil safety and environmental information does not include XTO Energy Inc. data. All other data includes XTO data from the time of acquisition (June 25, 2010) onward, unless otherwise noted.



## Integrity

Integrity – in every sense of the word – defines how we take on the world’s energy challenges. It is the reason for our success.

ExxonMobil believes that our commitment to integrity – our systematic and unwavering focus on safety, operational excellence, financial discipline, and high ethical standards – is the driving force behind our industry-leading returns. It enables us to manage risks effectively, maximize our long-term returns, and be best-positioned to meet the world’s growing energy needs.

Meeting energy demand safely, while minimizing the impact on the environment, is a mission unlike any other. Energy – for electricity, for transportation, for industry – is fundamental to economic and social progress and to the lives of billions of people. We must meet the energy needs of the current generation while protecting the environment for future generations.

ExxonMobil understands the scope of the challenge. We know that despite recent economic weakness, global energy demand in 2030 is expected to be 35 percent higher than it was in 2005. We know the world will need more cleaner-burning fuels, particularly natural gas. We know it will require unprecedented levels of capital investment.

To meet demand through 2030 and beyond, ExxonMobil continues to expand and diversify our resource base, promote efficiency, and develop new energy technologies. Our focus on integrity enables ExxonMobil to not only safely produce solutions for the world’s evolving energy needs, but also to produce long-term value for our shareholders.



## To Our Shareholders

ExxonMobil continues to deliver superior long-term shareholder value. We succeed by upholding the values that set us apart: a commitment to safety, operational excellence, and risk management; a disciplined, long-term approach to investing; and the development and application of advanced technology and innovation. This consistent approach continues to serve us well, weathering the downturns and prospering as opportunities present themselves.

ExxonMobil's 2010 results reflect the strength of our proven business model. Earnings were $30.5 billion which included record earnings for our Chemical business. We delivered a return on average capital employed of 22 percent, continuing to lead our peer group. Cash flow from operations and asset sales was a healthy $51.7 billion.

Operating results were equally strong. Oil-equivalent production grew to 4.4 million barrels a day, a 13-percent increase year-on-year. And we continued our industry-leading safety performance, achieving our best-ever lost-time incident rates in 2010.

ExxonMobil’s success is underpinned by our commitment to integrity – our systematic and unwavering focus on safety, operational excellence, financial discipline, and high ethical standards.

These values enable ExxonMobil to consistently produce strong returns for our shareholders. In 2010, ExxonMobil distributed $19.7 billion to shareholders through dividends and share repurchases, contributing to a total shareholder return of 10 percent. Over the past five years, we have distributed $154 billion to shareholders, and our dividend has risen by 53 percent.

ExxonMobil’s Upstream, Downstream, and Chemical businesses once again delivered excellent results. In the Upstream, ExxonMobil together with our partners, put into service three major projects in 2010, including new oil production from the Odoptu field which is the latest development phase of the Sakhalin-1 project in Russia, the initial commissioning and gas send-out from the Golden Pass liquefied natural gas (LNG) terminal in Texas, and the start-up of new LNG deliveries from RasGas Train 7 in Qatar. Our seamless integration of XTO Energy Inc. further enhanced our Upstream portfolio and expanded our participation in significant unconventional North American resources. The unique combination of ExxonMobil’s technology and XTO’s operating expertise will provide important benefits as we progress opportunities for unconventional energy resources worldwide.

In the Downstream and Chemical businesses, ExxonMobil continued to capture new efficiencies and benefit from our strong integration and operating flexibility. In the Downstream, we achieved significant milestones in our multiyear program of global investments aimed at meeting the growing demand for lower-sulfur motor fuels, with construction completed on new refinery units that will increase supply of ultra-low sulfur diesel in the United States and Europe. In our Chemical business, we continue to expand our capacity to supply the rising demand in Asian markets, with a major expansion under way at the Singapore petrochemical facility. The expansion will position the Singapore complex as the largest integrated refining and chemical site in our portfolio.

All of ExxonMobil’s actions are undertaken with a view that energy is not only an engine of economic growth, but also a pillar of human and social progress. Access to affordable, reliable, convenient energy transforms lives by raising living standards, making people more productive, and expanding their opportunities for education, employment, and better health.



While the scale of the world’s energy needs today is enormous, we must continue to find innovative ways to meet not only today’s demands, but the growing demands of the future while managing the impact of energy on the environment. Critical to meeting the world’s energy needs is the ongoing development of new energy technologies to expand the supply of traditional fuels, develop new sources of energy, and allow us to use energy more efficiently. ExxonMobil is committed to continue our role of innovating and developing many of these new technologies.

While supplying the world’s energy needs requires constant innovation, it will also require unprecedented levels of investment. ExxonMobil’s financial strength allows us to continue to invest with a long-term perspective that transcends year-to-year economic conditions. Our capital and exploration expenditures in 2010 were a record $32.2 billion. We will continue to invest at substantial levels – more than $165 billion over the next five years – deploying new technologies and delivering new projects to efficiently supply energy to the world.

We know that developing and delivering energy involves risks – safety and environmental risks, financial risks, geopolitical risks, and technical risks. ExxonMobil will continue to improve and perfect our approach to assess and manage these risks. Recognized as a model of success in our industry, the Operations Integrity Management System (OIMS) provides the rigor and structure to ensure that our commitment to safety and risk management is embedded in all our business activities, in every country, in every language.

Consumers and the public rely on ExxonMobil to deliver reliable, affordable energy that enables them to achieve better lives and to do so in a way that minimizes risks to people, communities, and the environment. As shareholders, your investment in ExxonMobil reflects your trust in our ability to manage these risks while meeting the world’s energy challenges.

The men and women of ExxonMobil are committed to meeting these expectations with our intellect and our integrity. It is by honoring these commitments – and upholding our values – that ExxonMobil has produced the successful results shown in this 2010 Summary Annual Report. We remain confident that we will continue our best-in-class position to meet the world’s energy challenges and deliver superior value for our shareholders. With the talent and commitment of the people of ExxonMobil, we are strong, resilient, and well-positioned for the future.



Rex W. Tillerson
Chairman and CEO






# Meeting growing energy demand in a safe and environmentally responsible way is a key challenge of our time.

Developing reliable and affordable energy supplies promotes both human progress and economic growth. Expanding access to energy – and the opportunities it affords – is a common goal around the world.

Energy Challenges Meeting rising demand, safely and with minimum impact on the environment, is a key challenge facing not only ExxonMobil, but also governments and societies around the world. The scale of this challenge is visible in ExxonMobil’s The Outlook for Energy: A View to 2030, our long-term forecast of supply and demand trends.

Key Conclusions Despite recent economic challenges, global energy demand is likely to increase about 35 percent from 2005 to 2030. Virtually all the growth in energy use will occur in developing countries, where demand will increase more than 70 percent.

The fastest growing major energy source will be natural gas, reflecting strong demand for clean-burning fuels to meet rising power generation needs. By 2030, natural gas will displace coal as the second most prominent source of energy worldwide. Oil will remain the world’s largest source of energy, with demand increasing approximately 20 percent driven by rising transportation needs. Keeping pace with the increase in global demand will require unprecedented levels of investment, advanced technologies, and access to resources.

Energy efficiency will be a key contributor to meeting the world’s needs for reliable and affordable energy. Gains in efficiency will curb global energy demand by one-third in 2030 and contribute to significant progress in stemming the growth of energy-related carbon dioxide (CO \( _{2} \) ) emissions, a component of greenhouse gas.

Providing Solutions Due to the scale of our energy and environmental challenges, only an integrated set of solutions will be effective. Solutions will need to satisfy diverse needs around the world, and therefore must be affordable, reliable, and efficient. ExxonMobil is making enormous investments to provide effective energy solutions to help enable progress around the world.

Global Energy Demand



(1) OECD = Organization for Economic Cooperation and Development

Global Energy Mix Continues to Evolve



Global energy demand will grow by about 35 percent from 2005 to 2030, with natural gas being the fastest growing major fuel.




Global energy demand is expected to grow by about 35% from 2005 to 2030
Oil and natural gas will meet about 60% of energy needs through 2030
Bringing Energy to the World
Meeting growing energy demand requires significant investment in both conventional and unconventional sources, like our Kearl oil sands project in Canada (above). Employees and contractors work closely together, applying ExxonMobil’s expertise in project management and proprietary technology. Strategic investments, coupled with strong operational systems, allow us to meet the world’s energy needs in a safe and environmentally responsible manner.




Operations Integrity ExxonMobil employees and contractors apply our Operations Integrity Management System (OIMS) in all aspects of our business, like at the Baton Rouge Refinery (above). OIMS is the cornerstone of our commitment to operational excellence, enabling us to achieve industry-leading safety performance and improvement in our environmental performance.
9%
reduction in
lost-time incident rate,
on average,
each year since 2006
OIMS
is embedded in
all of our activities
in every country,
in every language



# Meeting the energy challenge requires effective risk management and a relentless focus on operational excellence.

The energy industry faces a unique set of risks, including technical, financial, and geopolitical. There are also risks to safety, security, health, and the environment. The extent to which an organization identifies and successfully manages risks will define its business success.

Managing Operational Risk Risk cannot be eliminated, but it can be managed. ExxonMobil manages risk through a capable and committed workforce with clear accountability, well-developed and clearly defined policies and procedures, high standards of design, rigorously applied management systems, employee and contractor training, and a systematic approach to assessing performance that drives continuous improvement.

As events in 2010 made clear, the energy industry faces multiple risks and challenges. The Deepwater Horizon oil spill in the Gulf of Mexico spurred governments and consumers to ask what the industry can do to ensure that meeting future

## By focusing on the integrity of our operations, ExxonMobil improves safety and environmental performance, and maximizes return to shareholders.

energy needs does not come at the expense of safety or the environment. ExxonMobil asked itself a similar question after the 1989 Valdez oil spill. We realized that just a commitment to safety and operational excellence was not enough. What was also needed was a system that put commitment into action. We introduced our Operations Integrity Management System (OIMS). OIMS
is the cornerstone of our commitment to managing risks to safety, security, health, and the environment. It guides the activities of each of our employees and contractors around the world. Through OIMS, ExxonMobil has achieved industry-leading safety performance and continues to improve environmental performance.

Addressing Climate Change Risk Meeting growing demand while addressing climate change risk is the global challenge that shapes ExxonMobil’s activities and investments. Since 2005, we have invested $1.6 billion in activities that improve energy efficiency and reduce greenhouse gas (GHG) emissions. We have also invested more than $5 billion in projects to reduce natural gas flaring. As a result, we have reduced our GHG emissions 11 million tonnes in 2010 compared to 2005.

We have also been active in developing and applying carbon capture and storage technology to store carbon dioxide (CO \( _{2} \) ) in underground geologic formations. In addition, our substantial natural gas portfolio has the potential to help reduce GHG emissions because natural gas has lower CO \( _{2} \)  emissions per unit of energy. We are also investing in research programs on algae biofuels and technologies that help consumers use energy more efficiently.

OIMS guides the activities of each of our more than 80,000 employees, as well as our contractors, around the world. Through OIMS, we achieved best-ever lost-time incident rates in 2010.

Industry-Leading Safety
Lost-Time Injuries and Illnesses



(1) Excludes XTO Energy Inc. data.
(2) Employee safety data from participating American Petroleum Institute companies (2010 industry data not available at time of publication).



# Meeting the energy challenge requires world-class people, technology leadership, and financial strength.

ExxonMobil is committed to continuous innovation because the world’s growing and evolving energy needs demand nothing less. This commitment, combined with our talented people and financial strength, is a powerful advantage in meeting the energy challenge.

World-Class People One reason for ExxonMobil’s success is our ability to attract and retain the brightest minds. Our goal is to develop our employees to have the highest technical and leadership capabilities in the industry. ExxonMobil employs more than 16,000 scientists and engineers, more than 1000 of them with PhDs. Their expertise is not only in geology, chemistry, and physics, but also oceanography, paleontology, and microbiology, as well as computer, environmental, and medical science. Investing in our people creates a sustainable source of competitive advantage.

Technology Leadership ExxonMobil’s ongoing commitment to technology is also a competitive advantage, and we are recognized as an industry leader. For example, we continue to build on the seismic and reservoir modeling technologies that we pioneered, which today enable us to identify new resource opportunities, drill more accurately, and improve recovery. We use our advanced Molecule Management technology in our plants to optimize the value of every hydrocarbon molecule, while minimizing energy use. ExxonMobil has developed technologies that can make vehicles more fuel efficient, including polymers that help tires stay inflated longer, lightweight plastics for automotive parts, and advanced lubricants.
In today’s challenging energy industry, a commitment to innovation is essential. ExxonMobil leads industry in ongoing investment in technology.

Financial Strength ExxonMobil’s financial position remains unparalleled in industry. In today’s challenging economic environment, this represents a unique competitive advantage. Moody’s and Standard & Poor’s both recognize our superior financial strength by assigning the highest credit rating to our financial obligations. ExxonMobil is one of very few public companies that has maintained this credit rating consistently for decades. Our financial strength gives us the flexibility to pursue and finance attractive investment opportunities throughout the business cycle. In 2010, ExxonMobil invested $32.2 billion to develop new projects to help meet growing global demand safely, efficiently, and in an environmentally responsible manner.

## Functional Capex Distribution \( ^{(1)} \) 



(1) See Frequently Used Terms on pages 36 through 37.

ExxonMobil has invested over $125 billion in the last five years to advance new technologies, pursue attractive Upstream projects, increase production of lower-sulfur fuels in the Downstream, and strategically grow our Chemical business.



Investment of more than

$1 billion

annually in research,
development, and technology
applications
ExxonMobil's
commitment to
technology
is a significant
competitive advantage
Excellence Begins with People A research technician (above) at the Akron Business and Technology Center in Ohio monitors pilot production of one of our specialty thermoplastic elastomers used in automotive components and household goods. Our chemical products offer not only improved performance, but also a more sustainable solution for our customers. These elastomers are fully recyclable, and result in lighter-weight automotive parts, which reduce fuel use.



## Corporate

<table><tr><td>FINANCIAL HIGHLIGHTS</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>(millions of dollars, unless noted)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales and other operating revenue \( ^{(1)} \)</td><td>370,125</td><td>301,500</td><td>459,579</td><td>390,328</td><td>365,467</td></tr><tr><td>Net income attributable to ExxonMobil</td><td>30,460</td><td>19,280</td><td>45,220</td><td>40,610</td><td>39,500</td></tr><tr><td>Cash flow from operations and asset sales \( ^{(2)} \)</td><td>51,674</td><td>29,983</td><td>65,710</td><td>56,206</td><td>52,366</td></tr><tr><td>Capital and exploration expenditures \( ^{(2)} \)</td><td>32,226</td><td>27,092</td><td>26,143</td><td>20,853</td><td>19,855</td></tr><tr><td>Cash dividends to ExxonMobil shareholders</td><td>8,498</td><td>8,023</td><td>8,058</td><td>7,621</td><td>7,628</td></tr><tr><td>Common stock purchases (gross)</td><td>13,093</td><td>19,703</td><td>35,734</td><td>31,822</td><td>29,558</td></tr><tr><td>Research and development costs</td><td>1,012</td><td>1,050</td><td>847</td><td>814</td><td>733</td></tr><tr><td>Cash and cash equivalents at year end \( ^{(3)} \)</td><td>7,825</td><td>10,693</td><td>31,437</td><td>33,981</td><td>28,244</td></tr><tr><td>Total assets at year end</td><td>302,510</td><td>233,323</td><td>228,052</td><td>242,082</td><td>219,015</td></tr><tr><td>Total debt at year end</td><td>15,014</td><td>9,605</td><td>9,425</td><td>9,566</td><td>8,347</td></tr><tr><td>ExxonMobil share of equity at year end</td><td>146,839</td><td>110,569</td><td>112,965</td><td>121,762</td><td>113,844</td></tr><tr><td>Average capital employed \( ^{(2)} \)</td><td>145,217</td><td>125,050</td><td>129,683</td><td>128,760</td><td>122,573</td></tr><tr><td>Share price at year end (dollars)</td><td>73.12</td><td>68.19</td><td>79.83</td><td>93.69</td><td>76.63</td></tr><tr><td>Market valuation at year end</td><td>364,035</td><td>322,329</td><td>397,239</td><td>504,220</td><td>438,990</td></tr><tr><td>Regular employees at year end (thousands)</td><td>83.6</td><td>80.7</td><td>79.9</td><td>80.8</td><td>82.1</td></tr></table>

<table><tr><td>KEY FINANCIAL RATIOS</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Earnings per common share (dollars)</td><td>6.24</td><td>3.99</td><td>8.70</td><td>7.31</td><td>6.64</td></tr><tr><td>Earnings per common share - assuming dilution (dollars)</td><td>6.22</td><td>3.98</td><td>8.66</td><td>7.26</td><td>6.60</td></tr><tr><td>Return on average capital employed \( ^{(2)} \)  (percent)</td><td>21.7</td><td>16.3</td><td>34.2</td><td>31.8</td><td>32.2</td></tr><tr><td>Earnings to average ExxonMobil share of equity (percent)</td><td>23.7</td><td>17.3</td><td>38.5</td><td>34.5</td><td>35.1</td></tr><tr><td>Debt to capital \( ^{(4)} \)  (percent)</td><td>9.0</td><td>7.7</td><td>7.4</td><td>7.1</td><td>6.6</td></tr><tr><td>Net debt to capital \( ^{(5)} \)  (percent)</td><td>4.5</td><td>(1.0)</td><td>(23.0)</td><td>(24.0)</td><td>(20.4)</td></tr><tr><td>Current assets to current liabilities (times)</td><td>0.94</td><td>1.06</td><td>1.47</td><td>1.47</td><td>1.55</td></tr><tr><td>Fixed charge coverage (times)</td><td>42.2</td><td>25.8</td><td>54.6</td><td>51.6</td><td>47.8</td></tr></table>

(1) Sales and other operating revenue include sales-based taxes of $28,547 million for 2010, $25,936 million for 2009, $34,508 million for 2008, $31,728 for 2007, and $30,381 for 2006.

(2) See Frequently Used Terms on pages 36 through 37.

(3) Excluding restricted cash of $628 million in 2010 and $4,604 million in 2006.

(4) Debt includes short- and long-term debt. Capital includes short- and long-term debt and total equity.

(5) Debt net of cash and cash equivalents, excluding restricted cash.



## The ExxonMobil Business Model ExxonMobil has a consistent

and straightforward business model that combines a long-term perspective, focus on operational excellence, delivery of superior cash flow, and a disciplined approach to capital investment to grow shareholder value. Our business model is enduring. Testing our projects across a range of economic scenarios ensures resiliency throughout the business cycle and enables us to continue to deliver superior long-term value to our shareholders.



For more than 125 years, ExxonMobil’s proven business model has enabled us to successfully manage risk and provide superior long-term value to our shareholders. ExxonMobil is strong, resilient, and well-positioned for the future.

## RESULTS & HIGHLIGHTS

Best-ever performance in workforce safety.

Strong earnings of $30.5 billion, including record Chemical earnings.

Annual dividend per share growth of 5 percent versus 2009, the 28th consecutive year of dividend per share increases.

Total shareholder distributions of $19.7 billion.

Industry-leading return on average capital employed of 22 percent.

Completion of XTO Energy Inc. transaction.

Total net production of liquids and natural gas available for sale of 4.4 million oil-equivalent barrels per day.

Proved oil and gas reserve additions of 3.5 billion oil-equivalent barrels, replacing 211 percent of production, excluding asset sales.

▶ Started up three major Upstream projects.

Completed new ultra-low sulfur diesel facilities at three refineries.

Major expansion under way at the Singapore petrochemical plant.

Industry-leading
safety
performance

$30.5 billion

in earnings, continuing to outpace industry

ExxonMobil consistently generates strong income from a highly efficient capital base, as demonstrated by our return on average capital employed performance versus our competition. We are proud to be a leader in providing reliable, affordable energy in a safe and environmentally responsible manner, enabling us to continue to deliver long-term value to our shareholders.

## ROCE Leadership

Return on Average Capital Employed \( ^{(1)} \) 



(1) See Frequently Used Terms on pages 36 through 37.

(2) Royal Dutch Shell, BP, and Chevron values are on a consistent basis with ExxonMobil, based on public information.

(3) Reflects data through December 31, 2010.

Total Shareholder Returns \( ^{(3)} \) 






The consistent execution of ExxonMobil’s clearly defined Upstream strategies, underpinned by a relentless focus on operational excellence, ensures we continue to deliver strong results across our global operations.



## Upstream

EXPLORATION, DEVELOPMENT, PRODUCTION, XTO, GAS & POWER MARKETING, AND RESEARCH

(Photo) Production commenced from the Russian Sakhalin-1 Odoptu field (ExxonMobil interest, 30 percent) in 2010, on time and on budget. The project, in one of the most challenging sub-arctic environments in the world, employed world-class extended-reach drilling.

## STRATEGIES

▶ Identify and selectively capture the highest-quality exploration opportunities

▶ Maximize profitability of existing oil and gas production

Invest in projects that deliver superior returns

▶ Capitalize on growing natural gas and power markets

▶ Maximize resource value through high-impact technologies and integrated solutions




## COMPETITIVE ADVANTAGES

Balanced Portfolio Quality • We identify, selectively pursue, and capture the highest-quality resources. The quality, size, and diversity of ExxonMobil's resource base and project inventory support a strong long-term outlook.

Disciplined Investing • Our focus on disciplined, selective investment from initial resource capture, through project development, to ongoing operations underpins our ability to deliver superior returns. The combination of our technical, project, and commercial expertise ensures we develop our resources most efficiently and effectively.

High-Impact Technologies • We employ high-impact technologies in exploration, reservoir modeling, project development, and production to ensure we maximize resource value with the optimum life-cycle development.

Operational Excellence • We explore, develop, produce, and market oil and gas using globally deployed management systems which ensure consistent application of the highest operational standards, effectively managing risk in all aspects of our business.

Global Integration • The global functional Upstream companies work with the Downstream and Chemical businesses to identify and deliver integrated solutions that maximize resource value.



## Upstream



Strong Upstream results of

$24 billion in earnings



The quality of our people, training, and global processes, when added to our premier global portfolio, enables us to deliver strong results.

## BUSINESS OVERVIEW

In 2010, in addition to delivering strong operating results, ExxonMobil Upstream continued to make significant investments to develop our diverse project portfolio and position us to deliver the energy required for the future.

With our partner Qatar Petroleum, we completed the Qatar liquefied natural gas (LNG) value chain with the start-up of RasGas Train 7 and initial commissioning and gas send-out from the Golden Pass LNG receiving terminal. These projects are the latest in a series of world-scale integrated projects that ensure gas from the North Field of Qatar can be competitively delivered to markets around the world.

In the first quarter of 2010, ExxonMobil signed an agreement for the redevelopment and expansion of the West Qurna (Phase I) field in Iraq. Working with our partners, we commenced drilling, wellwork, and facility modification activities to begin ramp-up of production.

In June 2010, ExxonMobil became the largest natural gas producer in the United States following the merger with XTO Energy Inc. Combining these assets with our existing acreage position created a premier global unconventional gas portfolio. Through the remainder of the year, we progressed integration activities by transferring best practices across our operations and applying XTO's expertise across our global unconventional portfolio.

In addition to these achievements, ExxonMobil has continued to capture new opportunities to add to our resource base, including acquiring unconventional assets in multiple North American shale gas locations. We also continued our active exploration around the globe. Our balanced exploration program is designed to test new high-potential exploration areas, further explore emerging unconventional opportunities, and continue to add resources through ongoing activity in established areas.

Overall, our Upstream business continues to effectively manage the safety, environmental, technical, financial, and geopolitical risks of our business, while delivering significant long-term value for our shareholders.

<table><tr><td>UPSTREAM STATISTICAL RECAP</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Earnings (millions of dollars)</td><td>24,097</td><td>17,107</td><td>35,402</td><td>26,497</td><td>26,230</td></tr><tr><td>Liquids production (net, thousands of barrels per day)</td><td>2,422</td><td>2,387</td><td>2,405</td><td>2,616</td><td>2,681</td></tr><tr><td>Natural gas production available for sale (net, millions of cubic feet per day)</td><td>12,148</td><td>9,273</td><td>9,095</td><td>9,384</td><td>9,334</td></tr><tr><td>Oil-equivalent production (net, thousands of barrels per day)</td><td>4,447</td><td>3,932</td><td>3,921</td><td>4,180</td><td>4,237</td></tr><tr><td>Proved reserves replacement \( ^{(1)(2)} \)  (percent)</td><td>211</td><td>100</td><td>143</td><td>107</td><td>135</td></tr><tr><td>Resource additions \( ^{(2)} \)  (millions of oil-equivalent barrels)</td><td>14,580</td><td>2,860</td><td>2,230</td><td>2,010</td><td>4,270</td></tr><tr><td>Average capital employed \( ^{(2)} \)  (millions of dollars)</td><td>103,287</td><td>73,201</td><td>66,064</td><td>63,565</td><td>57,871</td></tr><tr><td>Return on average capital employed \( ^{(2)} \)  (percent)</td><td>23.3</td><td>23.4</td><td>53.6</td><td>41.7</td><td>45.3</td></tr><tr><td>Capital and exploration expenditures \( ^{(2)} \)  (millions of dollars)</td><td>27,319</td><td>20,704</td><td>19,734</td><td>15,724</td><td>16,231</td></tr></table>

(1) Proved reserves exclude asset sales and the 2007 Venezuela expropriation. Includes non-consolidated interests and Canadian oil sands.
(2) See Frequently Used Terms on pages 36 through 37.

Note: Unless otherwise stated, production rates, project capacities, and acreage values referred to on pages 12 through 19 are gross.



Our 2010 Upstream results were underpinned by safety and environmental performance improvements, high reliability of our facilities, strong operating and capital spending discipline, and significant production volume growth.

## RESULTS & HIGHLIGHTS

Best-ever workforce safety performance.

Earnings were $24.1 billion.

Return on average capital employed was 23 percent, averaging 37 percent over the last five years.

Earnings per oil-equivalent barrel were $14.85.

Total net production of liquids and natural gas available for sale was 4.4 million oil-equivalent barrels per day.

Proved oil and gas reserves additions were 3.5 billion oil-equivalent barrels, replacing 211 percent of production excluding asset sales.

Resource base additions totaled 14.6 billion oil-equivalent barrels; ExxonMobil’s total resource base now stands at 84 billion oil-equivalent barrels.

Exploration resource addition cost was $0.87 per oil-equivalent barrel.

Upstream capital and exploration spending was $27.3 billion, driven by an active exploration program, selective investment in a strong portfolio of development projects, and continued investment to enhance the value of existing assets.
44

million

oil-equivalent barrels
of net production
per day,
13 percent higher
than 2009

ExxonMobil’s focus on disciplined cost management and selective investments ensures that we continue to deliver strong results, while also continuing to grow our portfolio and progress technologies for the future.

Upstream Return on Average Capital Employed



(1) Royal Dutch Shell, BP, and Chevron values are estimated on a consistent basis with ExxonMobil, based on public information.



Our Controlled Freeze Zone demonstration plant in Wyoming is commencing the testing phase. This technology has the potential to enable commercialization of additional sour gas resources.



## Identify and Selectively Capture the Highest-Quality Exploration Opportunities

ExxonMobil’s fundamental exploration strategy is to identify, evaluate, selectively pursue, and capture the highest-quality resource opportunities, ahead of competition. Our global organization allows us to explore diverse resource opportunities, in all environments.

ExxonMobil Upstream is focused on the pursuit of:

• New exploration plays that typically have high uncertainty but large resource potential;

• Further tests in established hydrocarbon basins;

• Unconventional resources, both oil and gas; and,

• Discovered fields that are undeveloped or partially developed.

All opportunities are screened on a rigorous, consistent basis for technical quality, materiality, and commercial viability. We use our unique geoscience capabilities and understanding of the global hydrocarbon potential to identify, evaluate, and prioritize the highest-quality resource opportunities. Only the most robust opportunities are selected for further evaluation.

Our approach to exploration has resulted in the successful capture of many new, high-potential resource opportunities. In 2010, we captured new opportunities in nine countries. At year-end 2010, ExxonMobil’s net exploration acreage totaled 62 million acres in 33 countries.

Over the last five years, ExxonMobil has added, on average, 5.2 billion oil-equivalent barrels per year to our resource base. These additions reflect opportunities across a diverse range of resource types. Our exploration resource addition cost has averaged $1.00 per oil-equivalent barrel over this period. At year-end 2010, the total resource base stood at 84 billion oil-equivalent barrels, including 10 billion oil-equivalent barrels associated with the XTO fields.

Resource Base by Type

(percent, oil-equivalent barrels)



All proved reserves additions and revisions are the



result of a rigorous and structured management review process that is stewarded by a team of experienced reserves experts. In 2010, ExxonMobil added 3.5 billion oil-equivalent barrels to proved reserves, more than twice our production, led by the XTO merger. ExxonMobil has now replaced reserves for 17 consecutive years. Our additions come from a combination of the development of new fields, extensions to existing fields driven by further development, effective reservoir management, and application of new technologies, as well as strategic acquisitions.

## 2010 Key Opportunity Captures

• 130,000 net acres in the Neuquen Province in Argentina through license rounds and joint ventures.

• 36,000 net acres in the Horn River Basin shale gas play, in Canada.

• Agreement with Iraq Ministry of Oil to redevelop and expand the West Qurna (Phase I) oil field (ExxonMobil interest, 60 percent).

• 35-percent working interest in deepwater Block 2 in Tanzania, covering 2.7 million acres.

• 25-percent interest in three sub-blocks of License 3922 in Turkey, covering approximately 7.4 million acres.

• 67,000 net acres in Haynesville and Bossier shale gas plays in East Texas and Louisiana.

• 157,000 net acres in the Fayetteville Shale in Arkansas.



## UpClose: XTO Energy Inc.

A 2010 highlight was ExxonMobil’s merger with XTO Energy Inc., a recognized industry leader in the development of unconventional resources. Following the June 2010 merger, ExxonMobil added roughly 60 trillion cubic feet gas-equivalent to our resource base, more than 2.9 billion cubic feet of equivalent daily gas production, and approximately 5 million net acres of leasehold.

In addition to becoming the top domestic producer of natural gas in the United States, ExxonMobil acquired leading positions in a number of U.S. locations, including the Haynesville/Bossier, Barnett, Fayetteville, Woodford, and Marcellus shale gas plays; the Bakken shale oil play and multiple Permian Basin fields; the San Juan Basin and other Rocky Mountain coal bed methane plays; and, in the Freestone Trend and other tight gas reservoirs. The merger has established a premier unconventional resource organization, with headquarters in Fort Worth, Texas.



## Maximize Profitability of Existing Oil and Gas Production

ExxonMobil successfully maximizes the commercial recovery of hydrocarbons across a reservoir’s life cycle. We apply our Operations Integrity Management System, cost-effective technology, and disciplined and selective investment as key strategies in delivering strong performance.

Managing the Base ExxonMobil has a diverse, profitable global portfolio of assets. We maximize recovery through accurate resource characterization, effective reservoir management, and thorough depletion planning, along with rigorous operations monitoring and optimization. We selectively invest in opportunities that increase economic resource recovery, maximize profitability, and ensure optimum long-term field performance. Production volumes are added through new drill wells, working over existing wells, and effective implementation of secondary and tertiary recovery programs. These recovery programs include using injection of water, gas, or carbon dioxide, heavy oil steam flooding, and sour gas injection techniques to increase reservoir recovery. We continue to develop new technologies to extend our capabilities. We have achieved record-

breaking well lengths in our drilling operations with the application of our proprietary Fast Drill process and extended-reach drilling technology.

## Superior facility reliability is achieved by our focus on operations integrity and the deployment of maintenance best practices.

Focus on Operations Integrity ExxonMobil’s Operations Integrity Management System (OIMS) encompasses all aspects of our operations and ensures risks are understood and appropriately managed. OIMS is used worldwide, and compliance is tested on a regular basis. ExxonMobil ensures high facility uptime using a suite of maintenance best practices developed over our considerable operational history. Large-scale maintenance activities are rigorously planned and executed using a shutdown management process that minimizes production impact.

## Production Outlook by Region

Americas ■ Asia ■ Europe ■ Africa ■ Australia/Oceania (millions of oil-equivalent barrels per day, net)



Our production outlook is supported by strong base performance, high-quality project additions, and new resource potential.



## Invest in Projects that Deliver Superior Returns

Our rigorous, high-quality project management processes consistently deliver superior project execution performance. When combined with our industry-leading portfolio of more than 130 major projects, our disciplined investments will continue to deliver maximum value. The growing demand for energy will necessitate ongoing oil and gas development around the world, from new large-scale, high-complexity projects, as well as redevelopment of existing resources. The ability to efficiently deliver these projects on schedule and on budget will differentiate performance in the Upstream.
Our comprehensive suite of globally applied business processes, project execution tools, and project management expertise enables us to achieve superior project performance. Over the last five years, ExxonMobil has completed projects, on average, within 1 percent of budgeted cost and 9 percent of schedule. In comparison, projects in our portfolio that are operated by others were 14 percent over on cost, and 19 percent over on schedule.
The key strategies to our superior project execution are:



• Appropriate concept selection to ensure the right development plan for the full resource life;

• Investment in technology to deliver innovative solutions to improve safety, lower costs, and increase reliability; and,

• Thorough front-end execution planning that identifies and manages cost and schedule risks.

Our large project portfolio provides ExxonMobil the flexibility to selectively progress projects, which helps us deliver robust financial performance and profitable volume growth. Our project portfolio is geographically diverse, including many projects in remote and challenging environments, and is balanced between oil and gas, and different resource types. The 130 projects currently in our portfolio will potentially develop 26 billion net oil-equivalent barrels. Developing these projects will leverage our experience in deepwater, heavy oil/oil sands, conventional oil and gas, unconventional gas, arctic, liquefied natural gas (LNG), and acid/sour gas injection.



## Projects by Geographic Region

(percent, number of projects)



## Resources in Projects by Project Type

(percent, oil-equivalent barrels)



Our portfolio of over 130 projects is geographically diverse, and is balanced between oil and gas, and across resource types.



## Capitalize on Growing Natural Gas and Power Markets

ExxonMobil is well-positioned with our significant gas portfolio to deliver reliable supplies of affordable natural gas and power to help meet increasing global demand. Our detailed knowledge of global energy markets allows us to maximize the value of our gas, natural gas liquids, and power interests.
ExxonMobil is now the largest natural gas producer in the United States, following our merger with XTO Energy Inc. We have an active drilling program under way in our U.S. unconventional acreage and are pursuing the commercialization of natural gas resources in Alaska. ExxonMobil is also a leading natural gas producer in Europe and remains among the largest suppliers of domestic gas in Australia and Malaysia. In the Middle East, through our interests in Qatar, we also supply significant pipeline gas sales as well as natural gas liquids.

ExxonMobil has a significant global position in the liquefied natural gas (LNG) market, supported by our Qatar and Indonesia ventures. We also have ownership interests in a number of LNG regasification facilities in Europe and the United States. These terminals and our suite of sales arrangements position us well to access multiple markets and maximize LNG value.
ExxonMobil, together with our partners, continues to expand our LNG portfolio with projects under construction in Papua New Guinea and Western Australia. We also have an active
14.7

billion
cubic feet per day
of gas sold
in 31 countries

exploration program, including pursuit of further shale gas resources and coal bed methane opportunities in Europe and Indonesia. ExxonMobil has interests in approximately 16 gigawatts of power generation capacity worldwide. This includes an industry-leading position in the application of cogeneration technology, with ExxonMobil interests in almost 5 gigawatts of capacity across 100 installations.

## Maximize Resource Value through High-Impact Technologies

ExxonMobil’s commitment to technology gives us a competitive advantage in our exploration, project development, oil and gas recovery, and production operations. Our technology development enables us to expand energy supply in a safe, efficient, and environmentally responsible manner.

ExxonMobil continues to deliver advantaged technologies and advance significant breakthrough research. Our integrated technologies allow us to achieve advances in conventional, deepwater, arctic, heavy oil, and, most recently, liquefied natural gas development, to unlock resource potential previously considered uneconomic. Our multidisciplinary approach will enable us to achieve advances in the development of unconventional gas both in North America and around the world. We are integrating our proprietary shale gas research with the extensive data from our expanded unconventional portfolio. In addition,

we continue to expand our suite of technologies ranging from imaging hydrocarbon reservoirs to drilling and developing heavy oil.

ExxonMobil is beginning the field-testing phase of our Controlled Freeze Zone commercial demonstration plant. This technology utilizes a single-step, cryogenic process to more efficiently treat sour natural gas. It requires a much smaller footprint than current technologies, potentially reducing the cost to develop these challenged resources.



The Golden Pass liquefied natural gas terminal in Sabine Pass, Texas, initiated commissioning and achieved first gas send-out in 2010. The diversity of our gas portfolio and global presence allows us to maximize value through access to many markets.



ExxonMobil’s Downstream encompasses a global portfolio of businesses that include Refining & Supply, Fuels Marketing, and Lubricants & Specialties. Our integrated business strategies and global reach are vital to achieving a sustained competitive advantage.



## Downstream

REFINING & SUPPLY, FUELS MARKETING, AND LUBRICANTS & SPECIALTIES

Invest for Resilient, Advantaged Returns ExxonMobil recently invested more than $1 billion to increase supply of ultra-low sulfur diesel (ULSD). In 2010, we completed construction of new hydrotreater units at our refineries in Baytown, Texas (pictured above); Baton Rouge, Louisiana; and Antwerp, Belgium. ULSD is used in motor freight, construction, and agricultural equipment. When used with advanced technologies, including vehicle emission control devices, it results in significant improvements to air quality.

## STRATEGIES

Maintain best-in-class operations

Provide quality, valued products and services to our customers

Lead industry in efficiency and effectiveness

Capitalize on integration across ExxonMobil businesses

Selectively invest for resilient, advantaged returns

▶ Maximize value from leading-edge technologies




## COMPETITIVE ADVANTAGES

Balanced Portfolio Quality • We are the world’s largest integrated refiner, manufacturer of lube basestocks, and a leading marketer of petroleum products. Our world-class facilities are located around the globe in major petroleum markets.

Disciplined Investing • We maintain a disciplined, long-term approach to managing capital employed. Our ongoing evaluation of our Downstream portfolio has resulted in investments in resilient, advantaged projects, while selectively divesting less attractive assets over the past several years.

High-Impact Technologies • Proprietary Molecule Management technology enables us to optimize raw material selection and processing, while maximizing yields of higher-value products.

Operational Excellence • Application of systematic processes and efficient execution have established us as an industry leader in operational excellence and cost effectiveness.

Global Integration • More than 75 percent of our refining capacity is integrated with our chemical and/or lubes operations. Our global functional organization facilitates efficient development and deployment of global best practices and new technologies.



## Downstream



$3.6 billion in earnings

reflecting strong
operational performance
and improved
industry margins



In 2010, we completed construction of a new hydrotreater unit at our Antwerp, Belgium, refinery (module shown above being transported) to expand supply of ultra-low sulfur diesel.

## BUSINESS SEGMENT OVERVIEW

Refining & Supply • ExxonMobil is the world’s largest integrated refiner with a network of reliable and efficient refineries, marine vessels, pipelines, and distribution centers that provides transportation fuels, lube basestocks, chemical feedstocks, and other high-value products to our customers around the world.

Fuels Marketing • We create long-term value by selling high-quality products and services daily to millions of customers worldwide and providing secure, ratable, and profitable outlets for our refineries.

Lubricants & Specialties • ExxonMobil has a competitive advantage as the No.1 supplier of lube basestocks and a market leader of high-technology, globally recognized synthetic lubricant brands.

## BUSINESS ENVIRONMENT

By 2030, energy demand for transportation fuels is forecast to increase nearly 40 percent versus 2005. This increase will be driven by growth in developing countries, while demand in more mature, developed markets is projected to be essentially flat as improvements in fuel economy and transportation system efficiencies offset demand from vehicle growth. Despite the potential positive effects of this energy demand growth on our Downstream business, we expect the challenging business environment for refining to continue, reflecting the increase in global refining capacity and environmental policies. However, our business model, coupled with our strengths, is designed to capture strong margins at the top of the business cycle and outperform competition at the bottom of the cycle. Our results demonstrate the resiliency of our business. Our Downstream strategies are effective across a range of industry conditions, and our success is due to our continued commitment to these strategies throughout the business cycle.

## MAINTAIN BEST-IN-CLASS OPERATIONS

ExxonMobil’s focus on operational excellence extends to all parts of our business. It is the foundation for our “license to operate” and is fundamental to our competitive advantage. Enabled by our Operations Integrity Management System, we continued our industry-leading safety performance, reducing our lost-time incident rate by nearly 40 percent since 2005. We also utilize a disciplined system to identify, assess, and mitigate potential safety risks at our sites. To manage business risk, our marketing businesses have robust processes in place to effectively control credit exposure. Disciplined credit and receivables management continues to reduce capital employed, improving financial returns.

<table><tr><td>DOWNSTREAM STATISTICAL RECAP</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Earnings (millions of dollars)</td><td>3,567</td><td>1,781</td><td>8,151</td><td>9,573</td><td>8,454</td></tr><tr><td>Refinery throughput (thousands of barrels per day)</td><td>5,253</td><td>5,350</td><td>5,416</td><td>5,571</td><td>5,603</td></tr><tr><td>Petroleum product sales (thousands of barrels per day)</td><td>6,414</td><td>6,428</td><td>6,761</td><td>7,099</td><td>7,247</td></tr><tr><td>Average capital employed \( ^{(1)} \)  (millions of dollars)</td><td>24,130</td><td>25,099</td><td>25,627</td><td>25,314</td><td>23,628</td></tr><tr><td>Return on average capital employed \( ^{(1)} \)  (percent)</td><td>14.8</td><td>7.1</td><td>31.8</td><td>37.8</td><td>35.8</td></tr><tr><td>Capital expenditures (millions of dollars)</td><td>2,505</td><td>3,196</td><td>3,529</td><td>3,303</td><td>2,729</td></tr></table>

(1) See Frequently Used Terms on pages 36 through 37.



Our Downstream business remains the industry’s most efficient, delivering the highest return on average capital employed compared to key international competitors.

## RESULTS & HIGHLIGHTS

Industry-leading safety performance.

Zero hydrocarbon spills from owned/operated and long-term leased marine vessels.

Earnings were $3.6 billion, reflecting an improved business environment and continued margin and efficiency capture.

Return on average capital employed was 15 percent, more than double 2009, and consistently leading industry throughout the business cycle.

Downstream capital expenditures were $2.5 billion, including investments in growth markets, high-value products, efficiency improvement, and environmentally driven expenditures.

New facilities at our refineries in Baytown, Texas; Baton Rouge, Louisiana; and, Antwerp, Belgium were completed, increasing ultra-low sulfur diesel supply by 6 million gallons per day.

ExxonMobil and Synthetic Genomics Inc. (SGI) opened a greenhouse at SGI's headquarters in La Jolla, California, to advance the next level of research and testing on algae biofuels.

6 4
million

million

barrels per day in
petroleum product
sales, including record
sales for Mobil 1
synthetic motor oil

The Downstream’s industry-leading return on average capital employed demonstrates the value of disciplined capital management, operational excellence, and the strength of our global brands.

Downstream Return on Average Capital Employed



(1) Royal Dutch Shell, BP, and Chevron values are estimated on a consistent basis with ExxonMobil, based on public information.



This branded wholesaler station in Illinois is one of more than 26,000 Exxon-, Mobil-, and Esso-branded retail sites providing fuel to millions of customers daily.



## Provide Quality, Valued Products and Services to Our Customers

ExxonMobil Downstream provides fuels, lubricants, feedstocks, and other high-value products and services to customers around the world.

Our fuel products and services are brought to market through our four Fuels Marketing business lines: Retail, Industrial and Wholesale, Aviation, and Marine. These businesses provide flexibility to serve the needs of a diverse range of customers. In addition to the millions of customers who visit Exxon, Mobil, and Esso retail service stations around the
world, our business-to-business sales channels supply a large customer portfolio that includes a wide range of industries, as well as multinational and local aviation and marine clients. Additionally, ExxonMobil is the No. 1 supplier of lube basestock and a market leader in synthetic lubricants. Technology leadership, supply reliability, and customer trust underpin the commercial success of our brands. At the forefront of our high-technology finished lubricant brands are Mobil 1 and Mobil SHC. Major automotive and industrial equipment manufacturers trust us to deliver value through leading-edge technologies that protect engines and equipment. Our products provide sustainable solutions such as energy efficiency, fuel economy, extended oil drain intervals, and equipment durability, while maintaining peak performance.

## Lead Industry in Efficiency and Effectiveness

We achieve industry-leading cost performance by reducing energy use, leveraging our global scale and integration, and deploying our leading-edge technologies to generate efficiencies.

In our Refining business, energy represents about one-third of the operating cost and remains a focus area for cost efficiency. Improved energy efficiency is a key contributor to our cost performance, and we have consistently outpaced industry in this area. ExxonMobil continues to make significant investments in cogeneration facilities that simultaneously produce electricity and heat or steam. Our Fuels Marketing businesses continue to implement initiatives to capture operating cost efficiencies that have more than offset inflationary pressures over the past several years. At the same time, we are restructuring our Fuels Marketing business towards more efficient and effective distribution channels. In our Lubes and Specialties business, we seek opportunities for packaging design improvements that reduce materials and transportation costs. For example, an initiative to optimize the design of our motor oil bottles has enabled us to reduce plastic and resin consumption by up to 25 percent.

## UpClose: Products with Unique Applications

ExxonMobil lubricants are used around the world in the most challenging applications. In 2010, 33 miners in

Chile were rescued after being trapped more than 2000 feet underground for 69 days. The rescue had a special meaning for ExxonMobil Lubricants and Specialties. The main drilling equipment used 100 percent Mobil lubricants to drill the shaft and enable the rescue capsule to descend and lift the miners to safety above the ground.



## Largest Global Refiner

Refinery interests ..... 36
Distillation capacity (barrels per day) ..... 6.3 million
Lube basestock capacity (barrels per day) ..... 131 thousand
Cogeneration capacity (interest in) ..... 2,700 megawatts

## Diverse Fuels Marketing Customer Base with Global Reach

Branded service stations.....~26,000
Commercial customers.....~600,000

## Global Lubricants Leadership Position

Market position ..... No. 1 supplier of lube basestock and synthetic lubricants



## Maximize Value from Leading-Edge Technology

Our Downstream research and technology portfolio encompasses a broad range of activities to address business challenges. We focus on developing and deploying high-impact technologies that maximize the efficiency and value of our existing assets as well as identifying game-changing technologies to sustain our competitive advantage.

ExxonMobil has a rich legacy of downstream technology leadership, developing Fluid Catalytic Cracking, Catalytic Reforming, and the world’s first synthetic lubricant. We continue to build on this leadership. For example, we have recently deployed step-out catalysts to enable increased production of ultra-low sulfur diesel. We are also progressing research efforts in advanced algae-based biofuels. In 2010, ExxonMobil Research and Engineering Company and Synthetic Genomics Inc. opened a new greenhouse research and testing facility, entering an important second stage in the collaboration to develop strains of algae that could produce refinery feedstock and make transportation fuels. This high-tech greenhouse supplements ongoing laboratory activity with additional research in a more real-world environment. Here, scientists and engineers experiment with different algae growth systems, light levels, temperature conditions, carbon dioxide amounts, and nutrient concentrations to better evaluate whether large-scale volumes of affordable biofuel can be made from algae. If successful, advanced biofuels could help meet the world’s growing demand for transportation fuels.

## Capitalize on Integration

Integration between business functions is a competitive advantage that delivers value through the identification of attractive investment opportunities, implementation of best practices, application of advantaged technology, and optimization of operations.

In the Downstream, we use an integrated approach to develop new business opportunities and optimize our global operations. For example, in support of the Upstream, our global supply organization manages the economic placement of over 2 million barrels a day of equity crude. At our manufacturing sites, we use computer models to optimize operations on an integrated basis to produce the highest-value fuel products, chemicals, lubricants, and
Leading industry with more than

75%

of our refining capacity
integrated with
chemical and/or lubes

asphalts. Our refineries are more than 60 percent larger than the industry average with more conversion capacity and more integration with chemical and lubes operations. We leverage proprietary Molecule Management technology at our integrated sites to ensure the highest-value products are produced. Integrated Business Teams combine manufacturing, supply, technology, logistics, and marketing expertise to optimize margin capture and maximize shareholder value. Our global scale and level of integration are structural advantages that are difficult for competitors to replicate.

## INTEGRATED SUPPLY CHAIN

ExxonMobil maximizes value across the entire supply chain, from the wellhead to the customer. Through integration, we are able to capture new opportunities and deliver greater value than any of our businesses could achieve on a stand-alone basis.

Crude and Feedstocks





Refining & Supply

A\Y
Chemical



Fuels Marketing
Retail, Industrial and
Wholesale, Aviation, and
Marine fuels

Lubricants & Specialties
Finished lubes, asphalt,
and wax



ExxonMobil Chemical, one of the largest chemical companies in the world, had a record year in 2010 with performance unmatched by competition. Our competitive advantages are the result of disciplined execution of our strategies over many business cycles.



## Chemical

(Photo) A new steam-cracking furnace is in transit to be installed as part of our Singapore expansion. The furnace is the largest of its kind: 15 stories tall, weighing the equivalent of five jumbo commercial airplanes. Employing our state-of-the-art proprietary technology, this is one of seven furnaces that are part of a feed-flexible steam cracker adding 1 million tonnes per year of ethylene capacity. When the project is complete, Singapore will be the site of ExxonMobil's largest integrated complex in the world.
STRATEGIES

▶ Focus on businesses that capitalize on core competencies

▶ Build proprietary technology positions

▶ Capture full benefits of integration across ExxonMobil operations

Consistently deliver best-in-class performance

Selectively invest in advantaged projects – We manage our capital portfolio to enhance our access to advantaged feedstocks, deploy lower-cost processes, and grow premium products. Our advantaged growth projects deliver superior returns throughout the business cycle and are durable over a wide range of market conditions. Efficiency projects make up an appreciable portion of our investment. We continue to invest in technology to make further breakthroughs in products and processes to maintain and extend our competitive advantage.




## COMPETITIVE ADVANTAGES

Balanced Portfolio Quality • Our unique mix of commodity and specialty businesses, as well as the strength across the individual businesses in our portfolio, delivers superior performance relative to competition throughout the business cycle.

Disciplined Investing • A highly structured capital management approach ensures that we invest in projects with feedstock, technology, and marketing advantages that can compete in the toughest market environments.

High-Impact Technologies • Proprietary technology expands our access to advantaged feedstock, reduces the cost of our manufacturing processes, and fosters growth of higher-value premium products with unique attributes.

Operational Excellence • We strive for best-in-class performance in areas such as safety, reliability, energy efficiency, and quality through disciplined practices and systems.

Global Integration • Synergies with our Upstream and Downstream deliver benefits through the physical integration of sites, joint feedstock and facilities planning, global competency networks, and sharing of services and best practices. As a result, we capture cost and capital efficiencies while upgrading refining and gas molecules to their highest value.



## Chemical



Record earnings

for our Chemical company of

$49 billion



Pictured above is a bale of butyl rubber, a specialty polymer we produce around the world. In 2010, we expanded our capacity in Kawasaki, Japan, by more than 20 percent.

## UNIQUE ADVANTAGES OVER COMPETITION

ExxonMobil Chemical's unique combination of advantaged feedstocks, lower-cost processes, and premium products is unmatched in the industry. Since 2001, we have achieved returns that are more than double that of our competition, including both chemical companies and the chemical operations of integrated oil companies. Key to this performance is our integration with the Upstream and Downstream businesses. This provides a secure source of molecules that we upgrade to the highest value for our shareholders.

Our proprietary technology delivers manufacturing efficiencies and enables real-time feedstock optimization. Technology also underpins the ongoing strengthening of our product portfolio and allows us to develop new products that provide benefits to our customers.

## BUSINESS ENVIRONMENT

We expect global commodity chemical demand to grow approximately 4 to 5 percent per year over the next decade, about 2 percent above gross domestic product (GDP). Demand growth is expected to be led by Asia Pacific, particularly China and India. ExxonMobil is able to supply this demand from our competitive capacity in both Asia Pacific and the Middle East. In the major markets outside of Asia Pacific, growth is expected to be in line with GDP. We are well-positioned in North America and Europe with highly competitive, world-scale assets.

Our Chemical business is expected to continue to grow and, when leveraged with our unique strengths, is positioned to create substantial value for our shareholders.

## UpClose: Sustainability

ExxonMobil Chemical is committed to the principles of sustainability, which reflect the need to balance economic growth, social development, and environmental concerns. We reduce material and energy use in our manufacturing operations to minimize our environmental impact.

To promote sustainability for our customers, we continually upgrade our products by making them stronger and easier to process. This reduces raw material use and finished product weight, reducing the energy used in transport and related emissions. Examples of products that reduce energy usage include stronger, lighter-weight plastics, advanced polymers that help tires maintain air pressure, and basestocks for advanced lubricants. Reduced energy usage conserves resources and reduces emissions, the essence of sustainability.

A recently published, industry-commissioned, and independently validated study concluded that for every unit of carbon dioxide (CO \( _{2} \) ) emitted by the chemical industry over the product life cycle, more than two units of CO \( _{2} \)  are saved through the use of these products and technologies.

<table><tr><td>CHEMICAL STATISTICAL RECAP</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Earnings (millions of dollars)</td><td>4,913</td><td>2,309</td><td>2,957</td><td>4,563</td><td>4,382</td></tr><tr><td>Prime product sales \( ^{(1)} \)  (thousands of tonnes)</td><td>25,891</td><td>24,825</td><td>24,982</td><td>27,480</td><td>27,350</td></tr><tr><td>Average capital employed \( ^{(2)} \)  (millions of dollars)</td><td>18,680</td><td>16,560</td><td>14,525</td><td>13,430</td><td>13,183</td></tr><tr><td>Return on average capital employed \( ^{(2)} \)  (percent)</td><td>26.3</td><td>13.9</td><td>20.4</td><td>34.0</td><td>33.2</td></tr><tr><td>Capital expenditures (millions of dollars)</td><td>2,215</td><td>3,148</td><td>2,819</td><td>1,782</td><td>756</td></tr></table>

(1) Prime product sales include ExxonMobil's share of equity-company volumes and finished-product transfers to the Downstream.
(2) See Frequently Used Terms on pages 36 through 37.



## 2010 was a record year for ExxonMobil Chemical Company. We outpaced competition in both safety and financial performance.

## RESULTS & HIGHLIGHTS

Workforce safety performance was best-ever for ExxonMobil Chemical. We continue to lead our competitors in lost-time injury performance.

Earnings were a record $4.9 billion, reflecting the positive impacts of advantaged feedstock, a high degree of integration, and record earnings from our specialty businesses.

Return on average capital employed was 26 percent, averaging 20 percent over the last 10 years, outperforming competition throughout the business cycle.

Prime product sales of 25.9 million tonnes were 4 percent higher than 2009, including an 8-percent increase in specialty sales. Total sales reflect industry demand recovery and the start-up of new capacity at our joint venture in Fujian, China.

Chemical capital expenditures were $2.2 billion, as construction activity peaked on our world-scale project in Singapore. We continued disciplined investment in specialty business growth and high-return efficiency projects.

The Shanghai Technology Center was commissioned to support premium product growth in Asia Pacific.

2020

percent

average return
on capital employed
over the last 10 years,
more than double
that of competition

ExxonMobil Chemical expanded our competitive advantage in return on capital employed both at the top and bottom of the last business cycle.

## Chemical Return on Average Capital Employed



(1) Competitor values are estimated on a consistent basis with ExxonMobil and based on public information. Chemical segments only: Dow Chemical, Chevron (through 2009), BP (through 2004), Royal Dutch Shell.



Our recently commissioned 220,000-square-foot Shanghai Technology Center in China will deliver innovative customer applications. It is equipped with more than 160 analytical and testing instruments, as well as 22 development-scale and 16 commercial-scale product processing machines.




The Baytown Olefins Plant combines many of ExxonMobil Chemical’s strengths including world-scale efficiency, feedstock flexibility, proprietary technology, and integration. This facility produces over 2 million tons per year of product to support a number of our commodity and specialty businesses.

## Chemical Strategies Deliver Unparalleled Advantages

In addition to investing in advantaged projects, we generate substantial competitive advantage through our product portfolio, proprietary technology, integration, and commitment to operational excellence.

Focus on Businesses that Capitalize on Core Competencies ExxonMobil's product portfolio is a unique combination of commodity and specialty businesses developed through proprietary technology instead of acquisitions. We have focused our portfolio on products that deliver high growth and high value. More than 90 percent of our businesses have a No. 1 or No. 2 global market position. Our world-scale commodity chemicals capture upside earnings when industry margins are strong. Our specialty chemicals provide a stable yet growing earnings base and significantly benefit from a lower-cost structure, enabled by feedstock and scale advantages when produced at the same integrated sites as our commodity chemicals.

## Build Proprietary Technology Positions

Advantaged Feedstocks • Proprietary technology helps us to process the broadest range of feedstocks in industry. The combination of our integration, advanced optimization tools, and flexible process designs allows our plants to respond quickly to changes in feedstock quality, availability, and cost.

Lower-Cost Manufacturing Processes • We rigorously improve our manufacturing cost performance by using advanced processes and catalyst technologies to deliver improved energy efficiency, greater reliability, and increased yields.

Premium Products • Breakthroughs in catalyst and product technologies provide higher-value products that are stronger and easier to process, allowing our customers to use less material and be more energy efficient. Our proprietary product and application technologies allow us to tailor innovative solutions for our customers.

Capture Full Benefits of Integration Across ExxonMobil Operations More than 90 percent of the chemical capacity that ExxonMobil owns and operates is integrated with our large refineries or natural gas processing plants. Our world-scale, integrated assets have substantial flexibility to process a wide range of feedstocks, allowing us to optimize molecules and product streams between refinery and chemical units at our facilities. Through our integrated model, we upgrade molecules to their highest value, providing lower-cost raw materials for our businesses.

Consistently Deliver Best-in-Class Performance A disciplined approach to improve safety, reliability, energy efficiency, and quality continues to increase the contribution of our assets. Application of our Operations Integrity Management System drives operational excellence, and, along with benchmarking and internal metrics, helps us achieve industry-leading performance. Our global organization enables rapid, consistent implementation of best practices and new technology while facilitating resource sharing. This approach creates competitive advantage through lower costs and higher margins for our businesses.



## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

## To The Shareholders of Exxon Mobil Corporation:

We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Consolidated Balance Sheets of Exxon Mobil Corporation and its subsidiaries as of December 31, 2010, and 2009, and the related Consolidated Statements of Income, Comprehensive Income, Changes in Equity, and Cash Flows for each of the three years in the period ended December 31, 2010, and in our report dated February 25, 2011, we expressed an unqualified opinion thereon. The consolidated financial statements referred to above (not presented herein) appear in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet.

In our opinion, the information set forth in the accompanying condensed consolidated financial statements (pages 32-34) is fairly stated, in all material respects, in relation to the consolidated financial statements from which it has been derived.



Dallas, Texas
February 25, 2011

## SUMMARY OF ACCOUNTING POLICIES AND PRACTICES

The Corporation’s accounting and financial reporting fairly reflect its straightforward business model involving the extracting, refining, and marketing of hydrocarbons and hydrocarbon-based products. The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (GAAP) requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates.

The summary financial statements include the accounts of those subsidiaries owned directly or indirectly with more than 50 percent of the voting rights held by the Corporation, and for which other shareholders do not possess the right to participate in significant management decisions. They also include the Corporation's share of the undivided interest in certain Upstream assets and liabilities. Amounts representing the Corporation's percentage interest in the net assets and net income of the less-than-majority-owned companies are included in "Investments, advances, and long-term receivables" on the Balance Sheet and "Income from equity affiliates" on the Income Statement.

The “functional currency” for translating the accounts of the majority of Downstream and Chemical operations outside the United States is the local currency. The local currency is also used for Upstream operations that are relatively self-contained and integrated within a particular country. The U.S. dollar is used for operations in countries with a history of high inflation and certain other countries.

Revenues associated with sales of crude oil, natural gas, petroleum and chemical products are recognized when the products are delivered and title passes to the customer.

Inventories of crude oil, products, and merchandise are carried at the lower of current market value or cost (generally determined under the last-in, first-out method – LIFO). Inventories of materials and supplies are valued at cost or less.

The Corporation makes limited use of derivative instruments. When derivatives are used, they are recorded at fair value, and gains and losses arising from changes in their fair value are recognized in income.

The Corporation’s exploration and production activities are accounted for under the “successful efforts” method. Depreciation, depletion, and amortization are primarily determined under either the unit-of-production method or the straight-line method. Unit-of-production rates are based on the amount of proved developed reserves of oil, gas, and other minerals that are estimated to be recoverable from existing facilities. The straight-line method is based on estimated asset service life.

The Corporation incurs retirement obligations for certain assets at the time they are installed. The fair values of these obligations are recorded as liabilities on a discounted basis and are accreted over time for the change in their present value. The costs associated with these liabilities are capitalized as part of the related assets and depreciated. Liabilities for environmental costs are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated.

The Corporation recognizes the underfunded or overfunded status of defined benefit pension and other postretirement plans as a liability or asset in the balance sheet with the offset in equity, net of deferred taxes.

A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending lawsuits and tax disputes. For further information on litigation and tax contingencies, see Notes 15 and 18 to the Consolidated Financial Statements in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet.

The Corporation awards share-based compensation to employees in the form of restricted stock and restricted stock units. Compensation expense is measured by the market price of the restricted shares at the date of grant and is recognized in the income statement over the requisite service period of each award.

Further information on the Corporation’s accounting policies and practices can be found in ExxonMobil’s 2010 Financial Statements and Supplemental Information booklet (Critical Accounting Policies and Note 1 to the Consolidated Financial Statements).



<table><tr><td colspan="4">SUMMARY STATEMENT OF INCOME</td></tr><tr><td>(millions of dollars)</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Revenues and Other Income</td><td></td><td></td><td></td></tr><tr><td>Sales and other operating revenue(1)</td><td>370,125</td><td>301,500</td><td>459,579</td></tr><tr><td>Income from equity affiliates</td><td>10,677</td><td>7,143</td><td>11,081</td></tr><tr><td>Other income(2)</td><td>2,419</td><td>1,943</td><td>6,699</td></tr><tr><td>Total revenues and other income</td><td>383,221</td><td>310,586</td><td>477,359</td></tr><tr><td>Costs and Other Deductions</td><td></td><td></td><td></td></tr><tr><td>Crude oil and product purchases</td><td>197,959</td><td>152,806</td><td>249,454</td></tr><tr><td>Production and manufacturing expenses</td><td>35,792</td><td>33,027</td><td>37,905</td></tr><tr><td>Selling, general, and administrative expenses</td><td>14,683</td><td>14,735</td><td>15,873</td></tr><tr><td>Depreciation and depletion</td><td>14,760</td><td>11,917</td><td>12,379</td></tr><tr><td>Exploration expenses, including dry holes</td><td>2,144</td><td>2,021</td><td>1,451</td></tr><tr><td>Interest expense</td><td>259</td><td>548</td><td>673</td></tr><tr><td>Sales-based taxes(1)</td><td>28,547</td><td>25,936</td><td>34,508</td></tr><tr><td>Other taxes and duties</td><td>36,118</td><td>34,819</td><td>41,719</td></tr><tr><td>Total costs and other deductions</td><td>330,262</td><td>275,809</td><td>393,962</td></tr><tr><td>Income before income taxes</td><td>52,959</td><td>34,777</td><td>83,397</td></tr><tr><td>Income taxes</td><td>21,561</td><td>15,119</td><td>36,530</td></tr><tr><td>Net income including noncontrolling interests</td><td>31,398</td><td>19,658</td><td>46,867</td></tr><tr><td>Net income attributable to noncontrolling interests</td><td>938</td><td>378</td><td>1,647</td></tr><tr><td>Net income attributable to ExxonMobil</td><td>30,460</td><td>19,280</td><td>45,220</td></tr><tr><td>Earnings per Common Share (dollars)</td><td>6.24</td><td>3.99</td><td>8.70</td></tr><tr><td>Earnings per Common Share - Assuming Dilution (dollars)</td><td>6.22</td><td>3.98</td><td>8.66</td></tr></table>

(1) Sales and other operating revenue includes sales-based taxes of $28,547 million for 2010, $25,936 million for 2009, and $34,508 million for 2008.
(2) Other income for 2008 includes a $62 million gain from the sale of a non-U.S. investment and a related $143 million foreign exchange loss.

The information in the Summary Statement of Income (for 2008 to 2010), the Summary Balance Sheet (for 2009 and 2010), and the Summary Statement of Cash Flows (for 2008 to 2010), shown on pages 32 through 34, corresponds to the information in the Consolidated Statement of Income, Consolidated Balance Sheet, and the Consolidated Statement of Cash Flows in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet. See also Management's Discussion and Analysis of Financial Condition and Results of Operations and other information in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet.

Functional Earnings and Net Income \( ^{(1)} \) 



(1) Net income attributable to ExxonMobil.

ExxonMobil delivered earnings of $30.5 billion in 2010, which included record results in our Chemical business. We continue to leverage our strong integrated business model for earnings and efficiency advantages.

Strong Cash Flows \( ^{(1)} \) 



(1) Net cash from operating and investing activities, excluding changes in restricted cash and cash equivalents, and marketable securities (see page 33).

Strong cash flow from operations and asset sales is more than sufficient to fund a growing level of investments in the business. We continue to generate strong operating cash flows from our highly efficient capital base.



<table><tr><td colspan="4">SUMMARY STATEMENT OF CASH FLOWS</td></tr><tr><td>(millions of dollars)</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Cash Flows from Operating Activities</td><td></td><td></td><td></td></tr><tr><td>Net income including noncontrolling interests</td><td>31,398</td><td>19,658</td><td>46,867</td></tr><tr><td>Adjustments for noncash transactions</td><td></td><td></td><td></td></tr><tr><td>Depreciation and depletion</td><td>14,760</td><td>11,917</td><td>12,379</td></tr><tr><td>Deferred income tax charges/(credits)</td><td>(1,135)</td><td>-</td><td>1,399</td></tr><tr><td>Postretirement benefits expense in excess of/(less than) net payments</td><td>1,700</td><td>(1,722)</td><td>57</td></tr><tr><td>Other long-term obligation provisions in excess of/(less than) payments</td><td>160</td><td>731</td><td>(63)</td></tr><tr><td>Dividends received greater than/(less than) equity in current earnings of equity companies</td><td>(596)</td><td>(483)</td><td>921</td></tr><tr><td>Changes in operational working capital, excluding cash and debt</td><td></td><td></td><td></td></tr><tr><td>Reduction/(increase) - Notes and accounts receivable</td><td>(5,863)</td><td>(3,170)</td><td>8,641</td></tr><tr><td>- Inventories</td><td>(1,148)</td><td>459</td><td>(1,285)</td></tr><tr><td>- Other current assets</td><td>913</td><td>132</td><td>(509)</td></tr><tr><td>Increase/(reduction) - Accounts and other payables</td><td>9,943</td><td>1,420</td><td>(5,415)</td></tr><tr><td>Net (gain) on asset sales</td><td>(1,401)</td><td>(488)</td><td>(3,757)</td></tr><tr><td>All other items - net</td><td>(318)</td><td>(16)</td><td>490</td></tr><tr><td>Net cash provided by operating activities</td><td>48,413</td><td>28,438</td><td>59,725</td></tr><tr><td>Cash Flows from Investing Activities</td><td></td><td></td><td></td></tr><tr><td>Additions to property, plant and equipment</td><td>(26,871)</td><td>(22,491)</td><td>(19,318)</td></tr><tr><td>Sales of subsidiaries, investments, and property, plant and equipment</td><td>3,261</td><td>1,545</td><td>5,985</td></tr><tr><td>Decrease/(increase) in restricted cash and cash equivalents</td><td>(628)</td><td>-</td><td>-</td></tr><tr><td>Additional investments and advances</td><td>(1,239)</td><td>(2,752)</td><td>(2,495)</td></tr><tr><td>Collection of advances</td><td>1,133</td><td>724</td><td>574</td></tr><tr><td>Additions to marketable securities</td><td>(15)</td><td>(16)</td><td>(2,113)</td></tr><tr><td>Sales of marketable securities</td><td>155</td><td>571</td><td>1,868</td></tr><tr><td>Net cash used in investing activities</td><td>(24,204)</td><td>(22,419)</td><td>(15,499)</td></tr><tr><td>Cash Flows from Financing Activities</td><td></td><td></td><td></td></tr><tr><td>Additions to long-term debt</td><td>1,143</td><td>225</td><td>79</td></tr><tr><td>Reductions in long-term debt</td><td>(6,224)</td><td>(68)</td><td>(192)</td></tr><tr><td>Additions to short-term debt</td><td>598</td><td>1,336</td><td>1,067</td></tr><tr><td>Reductions in short-term debt</td><td>(2,436)</td><td>(1,575)</td><td>(1,624)</td></tr><tr><td>Additions/(reductions) in debt with three months or less maturity</td><td>709</td><td>(71)</td><td>143</td></tr><tr><td>Cash dividends to ExxonMobil shareholders</td><td>(8,498)</td><td>(8,023)</td><td>(8,058)</td></tr><tr><td>Cash dividends to noncontrolling interests</td><td>(281)</td><td>(280)</td><td>(375)</td></tr><tr><td>Changes in noncontrolling interests</td><td>(7)</td><td>(113)</td><td>(419)</td></tr><tr><td>Tax benefits related to stock-based awards</td><td>122</td><td>237</td><td>333</td></tr><tr><td>Common stock acquired</td><td>(13,093)</td><td>(19,703)</td><td>(35,734)</td></tr><tr><td>Common stock sold</td><td>1,043</td><td>752</td><td>753</td></tr><tr><td>Net cash used in financing activities</td><td>(26,924)</td><td>(27,283)</td><td>(44,027)</td></tr><tr><td>Effects of exchange rate changes on cash</td><td>(153)</td><td>520</td><td>(2,743)</td></tr><tr><td>Increase/(decrease) in cash and cash equivalents</td><td>(2,868)</td><td>(20,744)</td><td>(2,544)</td></tr><tr><td>Cash and cash equivalents at beginning of year</td><td>10,693</td><td>31,437</td><td>33,981</td></tr><tr><td>Cash and cash equivalents at end of year</td><td>7,825</td><td>10,693</td><td>31,437</td></tr></table>

## Non-Cash Transactions

The Corporation acquired all the outstanding equity of XTO Energy Inc. in an all-stock transaction valued at $24,659 million in 2010 (see Note 19 in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet.

The information in the Summary Statement of Income (for 2008 to 2010), the Summary Balance Sheet (for 2009 and 2010), and the Summary Statement of Cash Flows (for 2008 to 2010), shown on pages 32 through 34, corresponds to the information in the Consolidated Statement of Income, Consolidated Balance Sheet, and the Consolidated Statement of Cash Flows in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet. See also Management's Discussion and Analysis of Financial Condition and Results of Operations and other information in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet.



<table><tr><td colspan="3">SUMMARY BALANCE SHEET AT YEAR END</td></tr><tr><td>(millions of dollars)</td><td>2010</td><td>2009</td></tr><tr><td>Assets</td><td></td><td></td></tr><tr><td>Current assets</td><td></td><td></td></tr><tr><td>Cash and cash equivalents</td><td>7,825</td><td>10,693</td></tr><tr><td>Cash and cash equivalents - restricted</td><td>628</td><td>-</td></tr><tr><td>Marketable securities</td><td>2</td><td>169</td></tr><tr><td>Notes and accounts receivable, less estimated doubtful amounts</td><td>32,284</td><td>27,645</td></tr><tr><td>Inventories</td><td></td><td></td></tr><tr><td>Crude oil, products and merchandise</td><td>9,852</td><td>8,718</td></tr><tr><td>Materials and supplies</td><td>3,124</td><td>2,835</td></tr><tr><td>Other current assets</td><td>5,269</td><td>5,175</td></tr><tr><td>Total current assets</td><td>58,984</td><td>55,235</td></tr><tr><td>Investments, advances and long-term receivables</td><td>35,338</td><td>31,665</td></tr><tr><td>Property, plant and equipment, at cost, less accumulated depreciation and depletion</td><td>199,548</td><td>139,116</td></tr><tr><td>Other assets, including intangibles, net</td><td>8,640</td><td>7,307</td></tr><tr><td>Total assets</td><td>302,510</td><td>233,323</td></tr><tr><td>Liabilities</td><td></td><td></td></tr><tr><td>Current liabilities</td><td></td><td></td></tr><tr><td>Notes and loans payable</td><td>2,787</td><td>2,476</td></tr><tr><td>Accounts payable and accrued liabilities</td><td>50,034</td><td>41,275</td></tr><tr><td>Income taxes payable</td><td>9,812</td><td>8,310</td></tr><tr><td>Total current liabilities</td><td>62,633</td><td>52,061</td></tr><tr><td>Long-term debt</td><td>12,227</td><td>7,129</td></tr><tr><td>Postretirement benefits reserves</td><td>19,367</td><td>17,942</td></tr><tr><td>Deferred income tax liabilities</td><td>35,150</td><td>23,148</td></tr><tr><td>Other long-term obligations</td><td>20,454</td><td>17,651</td></tr><tr><td>Total liabilities</td><td>149,831</td><td>117,931</td></tr><tr><td>Commitments and contingencies</td><td colspan="2">See footnote 1</td></tr><tr><td>Equity</td><td></td><td></td></tr><tr><td>Common stock without par value</td><td>9,371</td><td>5,503</td></tr><tr><td>Earnings reinvested</td><td>298,899</td><td>276,937</td></tr><tr><td>Accumulated other comprehensive income</td><td></td><td></td></tr><tr><td>Cumulative foreign exchange translation adjustment</td><td>5,011</td><td>4,402</td></tr><tr><td>Postretirement benefits reserves adjustment</td><td>(9,889)</td><td>(9,863)</td></tr><tr><td>Unrealized gain/(loss) on cash flow hedges</td><td>55</td><td>-</td></tr><tr><td>Common stock held in treasury</td><td>(156,608)</td><td>(166,410)</td></tr><tr><td>ExxonMobil share of equity</td><td>146,839</td><td>110,569</td></tr><tr><td>Noncontrolling interests</td><td>5,840</td><td>4,823</td></tr><tr><td>Total equity</td><td>152,679</td><td>115,392</td></tr><tr><td>Total liabilities and equity</td><td>302,510</td><td>233,323</td></tr></table>

(1) For more information, please refer to Note 15 in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet.

The information in the Summary Statement of Income (for 2008 to 2010), the Summary Balance Sheet (for 2009 and 2010), and the Summary Statement of Cash Flows (for 2008 to 2010), shown on pages 32 through 34, corresponds to the information in the Consolidated Statement of Income, Consolidated Balance Sheet, and the Consolidated Statement of Cash Flows in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet. See also Management's Discussion and Analysis of Financial Condition and Results of Operations and other information in ExxonMobil's 2010 Financial Statements and Supplemental Information booklet.



<table><tr><td colspan="6">DIVIDEND AND SHAREHOLDER RETURN INFORMATION</td></tr><tr><td></td><td>2010</td><td>2009</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Earnings per common share (dollars)</td><td>6.24</td><td>3.99</td><td>8.70</td><td>7.31</td><td>6.64</td></tr><tr><td>Earnings per common share - assuming dilution (dollars)</td><td>6.22</td><td>3.98</td><td>8.66</td><td>7.26</td><td>6.60</td></tr><tr><td colspan="6">Dividends per common share (dollars)</td></tr><tr><td>First quarter</td><td>0.42</td><td>0.40</td><td>0.35</td><td>0.32</td><td>0.32</td></tr><tr><td>Second quarter</td><td>0.44</td><td>0.42</td><td>0.40</td><td>0.35</td><td>0.32</td></tr><tr><td>Third quarter</td><td>0.44</td><td>0.42</td><td>0.40</td><td>0,35</td><td>0.32</td></tr><tr><td>Fourth quarter</td><td>0.44</td><td>0.42</td><td>0.40</td><td>0.35</td><td>0.32</td></tr><tr><td>Total</td><td>1.74</td><td>1.66</td><td>1.55</td><td>1.37</td><td>1.28</td></tr><tr><td>Dividends per share growth (annual percent)</td><td>4.8</td><td>7.1</td><td>13.1</td><td>7.0</td><td>12.3</td></tr><tr><td colspan="6">Number of common shares outstanding (millions)</td></tr><tr><td>Average</td><td>4,885</td><td>4,832</td><td>5,194</td><td>5,557</td><td>5,948</td></tr><tr><td>Average - assuming dilution</td><td>4,897</td><td>4,848</td><td>5,221</td><td>5,594</td><td>5,987</td></tr><tr><td>Year end</td><td>4,979</td><td>4,727</td><td>4,976</td><td>5,382</td><td>5,729</td></tr><tr><td>Cash dividends paid on common stock (millions of dollars)</td><td>8,498</td><td>8,023</td><td>8,058</td><td>7,621</td><td>7,628</td></tr><tr><td>Cash dividends paid to earnings (percent)</td><td>28</td><td>42</td><td>18</td><td>19</td><td>19</td></tr><tr><td>Cash dividends paid to cash flow(1) (percent)</td><td>18</td><td>28</td><td>13</td><td>15</td><td>15</td></tr><tr><td>Total return to shareholders (annual percent)</td><td>10.1</td><td>(12.6)</td><td>(13.2)</td><td>24.3</td><td>39.2</td></tr><tr><td colspan="6">Market quotations for common stock (dollars)</td></tr><tr><td>High</td><td>73.69</td><td>82.73</td><td>96.12</td><td>95.27</td><td>79.00</td></tr><tr><td>Low</td><td>55.94</td><td>61.86</td><td>56.51</td><td>69.02</td><td>56.42</td></tr><tr><td>Average daily close</td><td>64.99</td><td>70.95</td><td>82.68</td><td>83.23</td><td>65.35</td></tr><tr><td>Year-end close</td><td>73.12</td><td>68.19</td><td>79.83</td><td>93.69</td><td>76.63</td></tr></table>

(1) Net cash provided by operating activities.

Cumulative Distributions to Shareholders



ExxonMobil has distributed more than $154 billion to our shareholders in the last five years through quarterly dividend payments and share purchases to reduce shares outstanding. We have increased annual dividends per share in each of the last 28 years.

Increasing Ownership



Share purchases have enhanced per share ownership of the business. Each share of ExxonMobil has an interest in 28 percent more production volumes, 32 percent more proved reserves, 14 percent more refinery throughput and 15 percent more chemical prime product sales than it did five years ago.



## Frequently Used Terms

Listed below are definitions of several of ExxonMobil's key business and financial performance measures and other terms. These definitions are provided to facilitate understanding of the terms and their calculation.

## CASH FLOW FROM OPERATIONS AND ASSET SALES

Cash flow from operations and asset sales is the sum of the net cash provided by operating activities and proceeds from sales of subsidiaries, investments, and property, plant and equipment from the Summary Statement of Cash Flows. This cash flow is the total sources of cash from both operating the Corporation's assets and from the divesting of assets. The Corporation employs a long-standing and regular disciplined review process to ensure that all assets are contributing to the Corporation's strategic objectives. Assets are divested when they are no longer meeting these objectives or are worth considerably more to others. Because of the regular nature of this activity, we believe it is useful for investors to consider sales proceeds together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities, including shareholder distributions.

<table><tr><td>(millions of dollars)</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Net cash provided by operating activities</td><td>48,413</td><td>28,438</td><td>59,725</td></tr><tr><td>Sales of subsidiaries, investments and property, plant and equipment</td><td>3,261</td><td>1,545</td><td>5,985</td></tr><tr><td>Cash flow from operations and asset sales</td><td>51,674</td><td>29,983</td><td>65,710</td></tr></table>

## CAPITAL EMPLOYED

Capital employed is a measure of net investment. When viewed from the perspective of how the capital is used by the businesses, it includes ExxonMobil's net share of property, plant and equipment and other assets less liabilities, excluding both short-term and long-term debt. When viewed from the perspective of the sources of capital employed in total for the Corporation, it includes ExxonMobil's share of total debt and equity. Both of these views include ExxonMobil's share of amounts applicable to equity companies, which the Corporation believes should be included to provide a more comprehensive measure of capital employed.

<table><tr><td>(millions of dollars)</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Business Uses: Asset and Liability Perspective</td><td></td><td></td><td></td></tr><tr><td>Total assets</td><td>302,510</td><td>233,323</td><td>228,052</td></tr><tr><td>Less liabilities and noncontrolling interests share of assets and liabilities</td><td></td><td></td><td></td></tr><tr><td>Total current liabilities excluding notes and loans payable</td><td>(59,846)</td><td>(49,585)</td><td>(46,700)</td></tr><tr><td>Total long-term liabilities excluding long-term debt</td><td>(74,971)</td><td>(58,741)</td><td>(54,404)</td></tr><tr><td>Noncontrolling interests share of assets and liabilities</td><td>(6,532)</td><td>(5,642)</td><td>(6,044)</td></tr><tr><td>Add ExxonMobil share of debt-financed equity-company net assets</td><td>4,875</td><td>5,043</td><td>4,798</td></tr><tr><td>Total capital employed</td><td>166,036</td><td>124,398</td><td>125,702</td></tr><tr><td>Total Corporate Sources: Debt and Equity Perspective</td><td></td><td></td><td></td></tr><tr><td>Notes and loans payable</td><td>2,787</td><td>2,476</td><td>2,400</td></tr><tr><td>Long-term debt</td><td>12,227</td><td>7,129</td><td>7,025</td></tr><tr><td>ExxonMobil share of equity</td><td>146,839</td><td>110,569</td><td>112,965</td></tr><tr><td>Less noncontrolling interests share of total debt</td><td>(692)</td><td>(819)</td><td>(1,486)</td></tr><tr><td>Add ExxonMobil share of equity-company debt</td><td>4,875</td><td>5,043</td><td>4,798</td></tr><tr><td>Total capital employed</td><td>166,036</td><td>124,398</td><td>125,702</td></tr></table>

## CAPITAL AND EXPLORATION EXPENDITURES (Capex)

Capital and exploration expenditures are the combined total of additions at cost to property, plant and equipment and exploration expenses on a before-tax basis from the Summary Statement of Income. ExxonMobil's Capex includes its share of similar costs for equity companies. Capex excludes depreciation on the cost of exploration support equipment and facilities recorded to property, plant and equipment when acquired. While ExxonMobil's management is responsible for all investments and elements of net income, particular focus is placed on managing the controllable aspects of this group of expenditures.



## RETURN ON AVERAGE CAPITAL EMPLOYED (ROCE)

Return on average capital employed is a performance measure ratio. From the perspective of the business segments, ROCE is annual business segment earnings divided by average business segment capital employed (average of beginning- and end-of-year amounts). These segment earnings include ExxonMobil's share of segment earnings of equity companies, consistent with our definition of capital employed, and exclude the cost of financing. The Corporation's total ROCE is net income attributable to ExxonMobil excluding the after-tax cost of financing, divided by total corporate average capital employed. The Corporation has consistently applied its ROCE definition for many years and views it as the best measure of historical capital productivity in our capital-intensive, long-term industry, both to evaluate management's performance and to demonstrate to shareholders that capital has been used wisely over the long term. Additional measures, which are more cash flow-based, are used to make investment decisions.

<table><tr><td>(millions of dollars)</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Net income attributable to ExxonMobil</td><td>30,460</td><td>19,280</td><td>45,220</td></tr><tr><td>Financing costs (after tax)</td><td></td><td></td><td></td></tr><tr><td>Gross third-party debt</td><td>(803)</td><td>(303)</td><td>(343)</td></tr><tr><td>ExxonMobil share of equity companies</td><td>(333)</td><td>(285)</td><td>(325)</td></tr><tr><td>All other financing costs - net</td><td>35</td><td>(483)</td><td>1,485</td></tr><tr><td>Total financing costs</td><td>(1,101)</td><td>(1,071)</td><td>817</td></tr><tr><td>Earnings excluding financing costs</td><td>31,561</td><td>20,351</td><td>44,403</td></tr><tr><td>Average capital employed</td><td>145,217</td><td>125,050</td><td>129,683</td></tr><tr><td>Return on average capital employed - corporate total</td><td>21.7%</td><td>16.3%</td><td>34.2%</td></tr></table>

## PROVED RESERVES

Proved reserves in this publication for 2009 and later years are based on current SEC definitions, but for prior years, the referenced proved reserve volumes are determined on bases that differ from SEC definitions in effect at the time. Specifically, for years prior to 2009 included in our five-year average replacement ratio, reserves are determined using the SEC pricing basis but including oil sands and our pro-rata share of equity company reserves for all periods. Prior to 2009, oil sands and equity company reserves were not included in proved oil and gas reserves as defined by the SEC. In addition, prior to 2009, the SEC defined price as the market price on December 31; beginning in 2009, the SEC changed the definition to the average of the market prices on the first day of each calendar month during the year. For years prior to 2009 included in our 17 straight years of at least 100-percent replacement, reserves are determined using the price and cost assumptions we use in managing the business, not the historical prices used in SEC definitions. Reserves determined on ExxonMobil's pricing basis also include oil sands and equity company reserves for all periods.

## RESOURCES, RESOURCE BASE, AND RECOVERABLE RESOURCES

Resources, resource base, recoverable resources, recoverable oil, recoverable hydrocarbons, and similar terms used in this report are the total remaining estimated quantities of oil and gas that are expected to be ultimately recoverable. ExxonMobil refers to new discoveries and acquisitions of discovered resources as resource additions. The resource base includes quantities of oil and gas that are not yet classified as proved reserves, but which ExxonMobil believes will likely be moved into the proved reserves category and produced in the future. The term “resource base” is not intended to correspond to SEC definitions such as “probable” or “possible” reserves.

## PROVED RESERVES REPLACEMENT RATIO

The reserves replacement ratio is calculated for a specified period utilizing the applicable proved oil-equivalent reserves additions divided by oil-equivalent production. See “Proved Reserves” above.

## EXPLORATION RESOURCE ADDITION COST

Exploration resource addition cost per oil-equivalent barrel is a performance measure that is calculated using the Exploration portion of Upstream capital and exploration expenditures divided by exploration resource additions (in oil-equivalent barrels). ExxonMobil refers to new discoveries, and the unproved portion of discovered resources that were acquired, as exploration resource additions. Exploration resource additions include quantities of oil and gas that are not yet classified as proved reserves, but which ExxonMobil believes will likely be moved into the proved reserves category and produced in the future. The impact of the XTO Energy Inc. merger transaction is excluded from this calculation.

<table><tr><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Exploration portion of Upstream capital and exploration expenditures (millions of dollars)</td><td>4,121</td><td>3,718</td><td>2,871</td></tr><tr><td>Exploration resource additions (millions of oil-equivalent barrels)</td><td>4,725</td><td>2,860</td><td>2,230</td></tr><tr><td>Exploration resource addition cost per oil-equivalent barrel (dollars)</td><td>0.87</td><td>1.30</td><td>1.29</td></tr></table>



## Directors, Officers, and Affiliated Companies \( ^{*} \) 

BOARD OF DIRECTORS



Edward E. Whitacre, Jr.
Former Chairman of the Board, General Motors Company (automaker); Chairman Emeritus, AT&T (telecommunications)
Peter Brabeck-Letmathe
Chairman of the Board,
Nestlé (nutrition, health and wellness)
Jay S. Fishman
Chairman of the Board and Chief Executive Officer,
The Travelers Companies (property and casualty insurance)
Marilyn Carlson Nelson
Chairman of the Board,
Carlson (travel, hotel, restaurant, and marketing services)
Rex W. Tillerson
Chairman of the Board and Chief Executive Officer

## STANDING COMMITTEES OF THE BOARD

Audit Committee
M.J. Boskin (Chair), P. Brabeck-Letmathe,
L.R. Faulkner, S.S Reinemund

Board Affairs Committee
M.C. Nelson (Chair), K.C. Frazier, W.W. George, S.J. Palmisano

Compensation Committee
W.W. George (Chair), J.S. Fishman, S.J. Palmisano, E.E. Whitacre, Jr.

Finance Committee
R.W. Tillerson (Chair), M.J. Boskin, P. Brabeck-Letmathe, L.R. Faulkner, S.S Reinemund

Public Issues and Contributions Committee
E.E. Whitacre, Jr. (Chair), J.S. Fishman, K.C. Frazier, M.C. Nelson

Executive Committee
R.W. Tillerson (Chair), M.J. Boskin, W.W. George, M.C. Nelson, S.J. Palmisano

## FUNCTIONAL AND SERVICE ORGANIZATIONS

Upstream
N.W. Duffin
President, ExxonMobil Development Company \( ^{(1)} \) 
S.M. Greenlee
President, ExxonMobil Exploration Company \( ^{(1)} \) 
R.M. Kruger
President, ExxonMobil Production Company \( ^{(1)} \) 
S.N. Ortwein
President, ExxonMobil Upstream Research Company
T.R. Walters
President, ExxonMobil Gas & Power Marketing Company \( ^{(1)} \) 
J.P. Williams, Jr.
President, XTO Energy Inc. \( ^{(1)} \) 
Downstream
H.R. Cramer
President, ExxonMobil Fuels Marketing Company \( ^{(1)} \) 
S.J. Glass, Jr.
President, ExxonMobil Refining & Supply Company \( ^{(1)} \) 
A.J. Kelly
President, ExxonMobil Lubricants & Petroleum Specialties Company \( ^{(1)} \) 
R.V. Pisarczyk
President, ExxonMobil Research and Engineering Company
Chemical
S.D. Pryor
President, ExxonMobil Chemical Company \( ^{(1)} \) 
Other
N.A. Chapman
President, ExxonMobil Global Services Company




Steven S Reinemund
Dean of Business,
Wake Forest University;
Retired Executive Chairman
of the Board, PepsiCo
(consumer food products)
Kenneth C. Frazier
President and Chief
Executive Officer,
Merck & Company
(pharmaceuticals)
Michael J. Boskin
T.M. Friedman
Professor of Economics
and Senior Fellow,
Hoover Institution,
Stanford University
Larry R. Faulkner
President,
Houston Endowment
(charitable foundation);
President Emeritus,
The University of
Texas at Austin
Samuel J. Palmisano
Presiding Director;
Chairman of the Board,
President, and Chief
Executive Officer,
International Business
Machines Corporation
(computer hardware,
software, business
consulting, and information
technology services)

William W. George
Professor of
Management Practice,
Harvard University;
Former Chairman and
Chief Executive Officer,
Medtronic, Inc.
(medical technology)

## OFFICERS

R.W. Tillerson
Chairman of the Board \( ^{(1)} \) 

M.W. Albers
Senior Vice President \( ^{(1)} \) 

M.J. Dolan
Senior Vice President \( ^{(1)} \) 

D.D. Humphreys
Senior Vice President and Treasurer \( ^{(1)} \) 

A.P. Swiger
Senior Vice President \( ^{(1)} \) 

S.J. Balagia
Vice President and General Counsel \( ^{(1)} \) 

L.J. Cavanaugh
Vice President – Human Resources

K.P. Cohen
Vice President – Public and Government Affairs

W.M. Colton
Vice President – Corporate Strategic Planning \( ^{(1)} \) 

H.R. Cramer
Vice President \( ^{(1)} \) 

T.M. Fariello
Vice President – Washington Office

R.S. Franklin
Vice President and President – ExxonMobil Upstream Ventures \( ^{(1)} \) 

S.J. Glass, Jr. Vice President \( ^{(1)} \) 
S.M. Greenlee Vice President \( ^{(1)} \) 
A.J. Kelly Vice President \( ^{(1)} \) 
R.M. Kruger Vice President \( ^{(1)} \) 
P.T. Mulva Vice President and Controller \( ^{(1)} \) 
O.K. Owen Vice President – Safety, Security, Health & Environment
S.D. Pryor Vice President \( ^{(1)} \) 
D.S. Rosenthal Vice President – Investor Relations and Secretary \( ^{(1)} \) 
J.M. Spellings, Jr. Vice President and General Tax Counsel \( ^{(1)} \) 
S.K. Stuewer Vice President – Environmental Policy & Planning
T.R. Walters Vice President \( ^{(1)} \)



## Investor Information

ExxonMobil offers our shareholders a wide range of services and several ways to access important company information.

## Shareholder Services

Shareholder inquiries should be addressed to ExxonMobil Shareholder Services at Computershare Trust Company, N.A., ExxonMobil's transfer agent:

## ExxonMobil Shareholder Services

P.O. Box 43078

Providence, RI 02940-3078

## 1-800-252-1800

(Within the U.S. and Canada)

## 1-781-575-2058

(Outside the U.S. and Canada)

An automated voice-response system is available 24 hours a day, 7 days a week. Service representatives are available during normal business hours.

Registered shareholders can access information about their ExxonMobil stock accounts via the Internet at computershare.com/exxonmobil.

## Stock Purchase and Dividend Reinvestment Plan

Computershare Trust Company, N.A. sponsors a stock purchase and dividend reinvestment plan, the Computershare Investment Plan for Exxon Mobil Corporation Common Stock. For more information and plan materials, go to computershare.com/exxonmobil or call or write ExxonMobil Shareholder Services.

## Dividend Direct Deposit

Shareholders may have their dividends deposited directly into their U.S. bank accounts. If you would like to elect this option, go to computershare.com/exxonmobil or call or write ExxonMobil Shareholder Services for an authorization form.

## Corporate Governance

Our Corporate Governance Guidelines and related materials are available by selecting “Investors” on our Web site at exxonmobil.com.

## ExxonMobil Publications

The publications listed below, all of which, when published, can be found on the Internet at exxonmobil.com, are available without charge to shareholders. Requests for printed copies should be directed to ExxonMobil Shareholder Services.

• 2010 Summary Annual Report

• 2010 Annual Report on Form 10-K

• 2010 Financial and Operating Review, a report on ExxonMobil’s businesses, strategies, and results

• 2010 Corporate Citizenship Report

• The Outlook for Energy: A View to 2030

• The Lamp, a shareholder magazine with news and features about ExxonMobil’s worldwide activities

## Electronic Delivery of Documents

Registered shareholders can receive the following documents online, instead of by mail, by contacting ExxonMobil Shareholder Services:

• Summary Annual Report

• Proxy Statement

• Financial Statements and Supplemental Information

• Tax Documents

• Account Statements

Beneficial shareholders should contact their bank or broker for electronic receipt of proxy voting materials.

## Eliminate Annual Report Mailings

Registered shareholders may eliminate annual report mailings by marking their proxy card, or by writing or calling ExxonMobil Shareholder Services.

Beneficial shareholders should contact their bank or broker to eliminate annual report mailings.

Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, and Esso. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Abbreviated references describing global or regional operational organizations, and global or regional business lines are also sometimes used for convenience and simplicity. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships.

Included in this Summary Annual Report are financial and operating highlights and summary financial statements. For complete financial statements, including notes, please refer to ExxonMobil's 2010 Financial Statements and Supplemental Information booklet included in the Summary Annual Report mailing. The Financial Statements and Supplemental Information booklet also includes Management's Discussion and Analysis of Financial Condition and Results of Operations. The "investors" section of ExxonMobil's Web site (exxonmobil.com), contains the Proxy Statement and other company publications, including ExxonMobil's Financial and Operating Review. These publications provide additional detail about the company's global operations.

The following are trademarks, service marks, or proprietary process names of Exxon Mobil Corporation or one of its affiliates: ExxonMobil, Esso, Exxon, Mobil, Mobil 1, Mobil SHC, Controlled Freeze Zone, Fast Drill, and Taking on the World’s Toughest Energy Challenges.



## General Information

Corporate Headquarters
Exxon Mobil Corporation
5959 Las Colinas Boulevard
Irving, TX 75039-2298

Additional copies may be obtained by writing or phoning:
Phone: 972-444-1000
Fax: 972-444-1505

Shareholder Relations
Exxon Mobil Corporation
P.O. Box 140369
Irving, TX 75014-0369

## Market Information

The New York Stock Exchange is the principal exchange on which Exxon Mobil Corporation common stock (symbol XOM) is traded.

## Annual Meeting

The 2011 Annual Meeting of Shareholders will be held at 9:00 a.m. Central Time on Wednesday, May 25, 2011, at:

The Morton H. Meyerson Symphony Center
2301 Flora Street
Dallas, Texas 75201

The meeting will be audiocast live on the Internet. Instructions for listening to this audiocast will be available on the Internet at exxonmobil.com approximately one week prior to the event.

## ExxonMobil

EXONMOBIL ON THE INTERNET
A quick, easy way to get information about ExxonMobil
ExxonMobil publications and important shareholder
information are available on the Internet at exxonmobil.com:

• Publications

• Stock Quote

• Dividend Information

• Contact Information

• Speeches

• News Releases

• Investor Presentations

• Corporate Governance



## ExxonMobil

Corporate Headquarters
5959 Las Colinas Blvd.
Irving, Texas 75039-2298
exxonomobil.com