Strength and strategy benefit shareholders

About 450 shareholders attended this year’s annual meeting, held in Dallas.

At the ExxonMobil annual meeting in May, Chairman and CEO Rex W. Tillerson emphasized that the corporation’s financial strength and long-term investment strategy continue to provide shareholders with superior value.

In his address at the Morton H. Meyerson Symphony Center in Dallas, Mr. Tillerson cited the company’s record-setting performance in 2008 as benefiting millions of people who hold ExxonMobil shares either directly or indirectly through their pension, insurance and mutual funds. The corporation’s dividends and share-buyback programs have distributed nearly $150 billion during the past five years to millions of ExxonMobil shareholders.

Tillerson also noted that to deliver energy to fuel global economic growth while protecting the environment, the world can’t rely on a single solution.

“For now and the foreseeable future, an integrated set of solutions is required,” Tillerson said. “Those solutions range from producing hydrocarbons more effectively, to using them more efficiently, to improving existing alternatives and developing policies that encourage long-term planning and investments. Despite the volatile economic times, ExxonMobil remains committed to investing in integrated solutions to the energy challenge.”

Notable accomplishments
Tillerson cited a number of ExxonMobil’s recent achievements and plans for the future, including:

• An industry-leading return on capital investment of 34 percent for 2008, significantly higher than ExxonMobil’s nearest competitor.
• Annual investment of $25 billion to $30 billion for capital and exploration projects over the next five years, including a record $29 billion in 2009.
• The startup of eight major projects in 2008, adding a net equivalent of 260,000 barrels a day to the company’s production at peak performance.
• A 2008 replacement of more than 100 percent of the company’s production — the 15th consecutive year this has been achieved — through the addition of proven reserves.
• Continued growth of exploration acreage, which has increased by more than 40 percent since 2003.

To offset the normal depletion of oil fields, ExxonMobil will add new capacity of about 1.5 million oil-equivalent barrels a day through new projects between 2008 and 2015. This additional capacity equals nearly 40 percent of current production.

In all, ExxonMobil’s industryleading portfolio of more than 100 development projects represents 24 billion oil-equivalent barrels of proved reserves. These new endeavors, coupled with the company’s financial strength, provide superior value for shareholders as ExxonMobil strives to meet the world’s growing need for energy and to safeguard our environment.

Ongoing investments
“ExxonMobil is strong, resilient and well-positioned for the future, with plans to invest a total of $125 billion to $150 billion in new energy projects over the next five years alone,” Tillerson said. “Our commitment to developing advanced technology, our industry-leading operational and project-management capabilities, and our exceptional employees continue to position the company as the world leader in the petroleum industry and a partner of choice for resource owners around the world.”

The three-and-a-half-hour meeting, attended by 450 shareholders included remarks by ExxonMobil Vice President of Investor Relations and Corporate Secretary David S. Rosenthal, the election of directors, and 11 proposals from shareholders. A press conference concluded the event.