Exxon Mobil Corporation · NYSE:XOM
Exxon Mobil — Investor Day (March 2007)
100 slides from Exxon Mobil's investor day presentation, Mar 13, 2007
Slide 1: Analyst Meeting New York March 7, 2007
Analyst Meeting New York March 7, 2007 Exhibit 99.2
Slide 2: Cautionary Statement
Cautionary Statement Forward-Looking Statements. Outlooks, projections, estimates, targets, and business plans in this presentation or the subsequent discussion period are forward-looking statements. Actual future results, including demand growth and mix; ExxonMobil’s own production growth and mix;
Slide 3: Corporate Overview
Corporate Overview Analyst Meeting March 7, 2007 . .
Slide 4: Proven Long-Term Approach
Disciplined Investment Operational Excellence Industry Leading Returns Superior Cash Flow Growth in Shareholder Value Proven Long-Term Approach
Slide 5: 2006 – Record Results
• Industry-leading safety performance • Record financial performance – Net Income $39 B – ROCE 32% – Cash flow from Operations and Asset Sales $52 B • Total Distributions to $33 B Shareholders * • Capex $20 B 2006 – Record Results * Includes dividends and share purchases to reduce shares outstanding
Slide 6: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 7: Normalized Earnings
Normalized Earnings $B • Superior results in all business lines • Industry-leading results across the cycle • Capitalizing on competitive advantages Chemical Downstream Upstream Net Income Record Results Portfolio Quality '02 '03 '04 '05 '06
Slide 8: Superior ROCE
Superior ROCE RDS BP CVX Return on Capital Employed * 5-Year Rolling Average % * Competitor data estimated using a consistent basis with ExxonMobil, and based on public information XOM • Consistently outperform competition • Results from implementation of business model – Capital discipline – Operat
Slide 9: Functional Organization
Functional Organization • Consistent business approach • Common standards, processes and systems • Disciplined and globally-aligned investment decisions • Rapid deployment of new technology and best practices • Project management expertise for full range of development options • Industry-leading ope
Slide 10: Investing in Our People
Investing in Our People • Hire from the global talent pool • Deliver tailored technology and best practices training • Provide diverse, global work experiences • Long-term career orientation • Competitive, merit-based compensation Global Integration
Slide 11: Operations Integrity Management System
Operations Integrity Management System Discipline and Consistency Need D/S image • Operations integrity management – Proactive risk assessment and mitigation embedded in work processes – Standardized processes, applied globally – Integrated into culture • Creates value – Enhances safety and environm
Slide 12: Safety Leadership
Employee Contractor Lost Time Incident Rate Incidents per 200k hours U. S. Petroleum Industry Benchmark* Safety Leadership * 2006 Industry data not available Discipline and Consistency Nobody Gets Hurt 0.0 0.1 0.2 0.3 0.4 0.5 '02 '03 '04 '05 '06
Slide 13: Environmental Leadership
• Managed through Operations Integrity Management System • Uses science-based approach to assess risks and set objectives • Incorporates environmental planning in business decisions • Environmental focus areas – Reduce spills and releases – Improve energy efficiency – Reduce flaring Environmental Le
Slide 14: Technology Leadership
Growing Competitive Advantage Research Global Deployment Business Need Innovation Technology Leadership • Unwavering long-term commitment to research • Research priorities determined by business requirements • Rapid, global deployment enabled by functional organization • Invested $730 million in 200
Slide 15: Cash Flow from Operating Activities
Cash Flow from Operating Activities * $B Superior Cash Flow * Excludes asset sales XOM RDS BP CVX • Record $49 billion in 2006 • Average $38 billion per year from 2002 to 2006 • Capturing the upside • 132% growth since 2002 vs average 105% for competitors • $8.34/share in 2006 Value Maximization '02
Slide 16: Investing for the Future
Investing for the Future Capex by Business Line $B Chemical / Other Downstream Upstream North America Geographic Capex Distribution $B, avg. 2002-2006 Europe Africa Asia Pacific/ Middle East Russia/Caspian Other Long-Term Perspective '02 '03 '04 '05 '06
Slide 17: Investing for the Future
Investing for the Future Chemical / Other Downstream Upstream Estimate Estimate $B Capex by Business Line $B Long-Term Perspective '02 '03 '04 '05 '06 '07 '08-'11 Average
Slide 18: Reliable and Growing Dividends
Reliable and Growing Dividends • Distributed $34 billion over past five years • Paid dividends each year for more than 100 years • Annual per share increases since 1983 • Dividends per share increased 39% from 2002 vs. 24% for S&P 500 $ Per Share Growing Competitive Advantage 0.0 0.2 0.4 0.6 0.8 1.0
Slide 19: Share Purchases
Growing Competitive Advantage Share Purchases • Distributed $58 billion during last five years and $25 billion in 2006 • Reduced shares outstanding by 16% since beginning of • Flexible and efficient distribution tool to manage capital structure $ Billion Purchases to reduce shares outstanding '02 '0
Slide 20: Increasing Ownership
Increasing Ownership Indexed Growth Per Share Since 2002* • Increasing ownership per share in operating assets • Strong per share growth in key business metrics • Contributes to increased earnings per share Growing Competitive Advantage *2006 metric per average share vs. 2002 metric per average shar
Slide 21: Increasing Value per Share
Increasing Value per Share Earnings Per Share $/share • Captured upside • Growth driven by – Higher commodity prices and refining margins – Strong business performance – Share purchases contributed $0.88 to 2006 EPS* Growing Competitive Advantage * Versus number of shares outstanding on January 1, 2
Slide 22: Growth in Shareholder Value: Shareholder Returns
20 Years 10 Years 5 Years Growth in Shareholder Value Shareholder Returns Disciplined Investment Operational Excellence Industry Leading Returns Superior Cash Flow Growth in Shareholder Value ExxonMobil Competitor Average* S&P 500 * Shell, BP and Chevron Growing Competitive Advantage Range %/Yr
Slide 23: Upstream Overview
Upstream Overview Analyst Meeting March 7, 2007 . .
Slide 24: 2006 Highlights
2006 Highlights • Earnings $26.2 B • ROCE 45.3 % • Production volumes 4.2 MOEBD • Resource adds 4.3 BOEB • Proved reserves adds 2.0 BOEB • Capex $16.2 B Upstream
Slide 25: Upstream Strategies
Upstream Strategies • Identify and pursue all attractive exploration opportunities • Invest in projects that deliver superior returns • Maximize profitability of existing oil and gas production • Capitalize on growing natural gas and power markets Upstream
Slide 26: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 27: Size, Diversity and Superior Quality
Size, Diversity and Superior Quality Resource Type Upstream: Portfolio Quality LNG Tight Gas Conventional Deepwater Arctic Heavy Oil Acid/Sour Gas Resource Base Americas Europe Russia/Caspian Africa BOEB Asia Pacific / Middle East BOEB YE '06
Slide 28: Adding to the Resource Base
Indonesia Norway Angola Nigeria Kazakhstan Qatar Australia Canada United States Congo Abu Dhabi Adding to the Resource Base Annual Resource Additions Average Annual Finding and Resource Acquisition Costs BOEB $/OEB 2006 Resource Adds Upstream: Portfolio Quality Avg. Avg. 0.0 0.2 0.4 0.6 0.8 '02 '03
Slide 29: Reserves Base – Size, Diversity and Growth
Conventional HO/Oil Sands Arctic Deepwater Americas Oil Gas '02 '03 '04 '05 '06 5-yr Avg Product Region Resource Type Proved Reserves* Replacement (Including asset sales) BOEB Proved Reserves* (YE 2006) Reserves Base – Size, Diversity and Growth Upstream: Portfolio Quality LNG Acid/Sour Gas Asia Pac
Slide 30: Strong Project Inventory
Strong Project Inventory Upstream: Portfolio Quality # of Projects Planning/ Selecting Defining Executing Operating Project Phase Resource By Type Deepwater Conventional Heavy Oil Arctic LNG Acid/Sour Gas '02 '03 '04 '05 '06
Slide 31: 2006 Major Project Start-Ups
2006 Major Project Start-Ups Upstream: Portfolio Quality Year Cumulative Start-Ups Dalia Erha & Erha North Fram East Syncrude Upgrader Expansion Guntong Hub East Area Additional Oil Recovery Azeri-Chirag-Gunashli Phase 2 2006 Start-Ups KOEBD, Net Interest
Slide 32: 2007 Major Project Start-Ups
2007 Major Project Start-Ups Upstream: Portfolio Quality 2007 14 Year Cumulative Start-Ups Rosa RasGas Train 5 Volve Statfjord Late Life Ormen Lange Marimba North Waddenzee KOEBD, Net Interest 2006 Start-Ups 2007 Start-Ups
Slide 33: 2008/2009 Major Project Start-Ups
2008/2009 Ma, ior Project Start-Ups Tyrihans e Starling Azeri-Chirag-Gunashli Phase 3 ae Tengiz Phase 1 Piceance Tight ‘South Hook Gas Phase 1 —~o ‘Adrind oe Khaleej Gas Phase 2 RasGas Train 6 RasGas Train 7 Golden Pass “Thunder Horse East Area Natural rgas I Train 4 es targas Il Train 5 Jerneh B® K
Slide 34: 2010+ Major Project Start-Ups
2010+ Major Project Start-Ups Upstream: Portfolio Quality Tempa Rossa Hebron Alaska Gas Project/ Point Thomson Mackenzie Gas Project Kearl Phase 1 Kearl (Future Phases) Piceance (Future Phases) Kashagan Phase 1 Kashagan (Future Phases) Tengiz Expansion Sakhalin-1 Future Phases Natuna PNG Pazflor CLO
Slide 35: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 36: Integrating Technology for Success
Time Failure No Failure Failure No Failure Integrating Technology for Success Upstream: Global Integration Understanding the Subsurface Commercializing the Resource Maximizing Ultimate Value New Hydrocarbon Play Concepts Improved Subsurface Interpretation Competitive Advantage Optimizing the Develop
Slide 37: Global Drilling
Global drilling office in Houston co-located with ExxonMobil Upstream Companies (Exploration, Development and Production) Upstream: Global Integration Drill teams Global drilling office Global Drilling
Slide 38: Global Drilling: Well Testing
Upstream: Global Integration Global Drilling Well Well Testing Testing Drill teams Global drilling office
Slide 39: Global Drilling: Deepwater Completions
Upstream: Global Integration Global Drilling Deepwater Deepwater Completions Completions Drill teams Global drilling office
Slide 40: Global Drilling: Extended Reach Drilling
Upstream: Global Integration Global Drilling Extended Extended Reach Reach Drilling Drilling Drill teams Global drilling office
Slide 41: Integrated Concepts
Oil & Gas Production Power Plant Refinery Chemical Plant Gas Processing LNG plant Integrated Concepts Upstream: Global Integration Oil & Gas Production Power Plant Refinery Chemical Plant Gas Processing Maximize resource value • Utilize proprietary technology • Deliver scale advantages • Enhance ene
Slide 42: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 43: Slide 43
Slide 44: Project Management System
Project Management System Upstream: Discipline and Consistency Operate Execute Define Select Planning for Development • Detailed Engineering • Contracting Strategy • Contractor Selection • Change Management Discipline • Build the Operating Organization • Completion and testing • Start-up / Handover
Slide 45: Demonstrated Performance
Demonstrated Performance Upstream: Discipline and Consistency % Actual vs. Funded* * ExxonMobil-operated projects Cost Schedule Start-Up year Avg '02-'06
Slide 46: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 47: Understand the Reservoir
Geoscience Drilling/ Subsurface Engineering Reservoir Engineering Well Path Options Pore Pressure Fracture Gradient Understand the Reservoir Upstream: Value Maximization Shared Earth Environment Shared Earth Environment Well Path Options Pore Pressure Fracture Gradient
Slide 48: Identify the Right Concept
LNG Pipeline Subsea Development Platform Full Field Development Phased Development Design One / Build Multiple Unique Solutions Qatar - RasGas Italy - Adriatic LNG Terminal Angola - Kizomba B Angola - Xikomba Russia - Sakhalin-1 USA – Hoover-Diana Malaysia - Angsi Nigeria - Yoho Identify the Right C
Slide 49: Optimize Drilling Results
MOEBD-Net Optimize Drilling Results Upstream: Value Maximization *Cumulative production contribution from all non-project drill wells since January 1, 2002 • 40 rigs operating • $2B net investment • 150 KOEBD net average first-year build-up • 500 MOEB net average per-year reserve adds from revisions
Slide 50: Production Reliability
Production Reliability Uptime % Upstream: Value Maximization EM Operated Operated by Others
Slide 51: Managing Production Costs
$G 2005 Actual Managing Production Costs 2006 Actual Activity / Other Fuel / Forex Market Asset Sales Efficiencies Upstream: Value Maximization Cash Production Costs Excluding Taxes
Slide 52: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 53: Cycle Time – Angola Block 15
Drill Ship Kizomba A Acreage Acquired Discovery Drill Ship Upstream: Long-Term Perspective Cycle Time – Angola Block 15 First Production – Kizomba A First Production – Kizomba B Regional Studies Negotiations 2D Seismic 3D Seismic Appraisal & Development Planning Fabrication Production Kizomba A FPSO
Slide 54: Upstream Firsts – Subsurface
Upstream: Long-Term Perspective Upstream Firsts - Subsurface 1953: In Situ Combustion Field Test 1963: Invented 3D seismic exploration Subsurface Imaging Enhanced Recovery 2003: Patent and field test of diluent co-injection with steam (LASER) 2002: R3M electromagnetic reservoir imaging 1981: First u
Slide 55: Community Development & Involvement
Community Development & Involvement Employment and Training Local Content Community, Health and Environment Upstream: Long-Term Perspective
Slide 56: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 57: Delivering Profitable Capacity Growth
Americas Liquids Gas '06 '07 '08 '09 '10 '11 '06 '07 '08 '09 '10 '11 Upstream: Growing Competitive Advantage Delivering Profitable Capacity Growth MOEBD MOEBD Europe Asia Pacific / Middle East Africa LNG
Slide 58: Industry-Leading Reserves
Industry-Leading Reserves Upstream: Growing Competitive Advantage Yrs Remaining 14.3 12.6 10.1 12.4 BOEB Proved Reserves* (YE 2006) * ExxonMobil reserves includes year-end price/cost revisions and Canadian oil sands operations Competitor data estimated using a consistent basis with ExxonMobil, and b
Slide 59: Upstream Capital Discipline
Upstream Capital Discipline Upstream: Growing Competitive Advantage Average Capital Employed* BP XOM RDS CVX $B * Competitor data estimated using a consistent basis with ExxonMobil, and based on public information.
Slide 60: Industry-Leading Earnings per Barrel
* Competitor data estimated using a consistent basis with ExxonMobil, and based on public information Industry-Leading Earnings per Barrel $/OEB 2002-2006 Earnings per Barrel* Upstream: Growing Competitive Advantage XOM CVX RDS BP
Slide 61: Industry-Leading ROCE
Upstream: Growing Competitive Advantage Industry-Leading ROCE % 2002-2006 Average Return on Capital Employed* * Competitor data estimated using a consistent basis with ExxonMobil, and based on public information XOM RDS CVX BP
Slide 62: Downstream Overview
Downstream Overview Analyst Meeting March 7, 2007 . .
Slide 63: 2006 Highlights
Refining & Supply Lubes Marketing Fuels Marketing • Record financial performance - Earnings $8.5 B - ROCE 35.8 % - Refinery throughput 5.6 MBD - Petroleum product sales 7.2 MBD • Operational excellence continues - Safety and environmental - Energy efficiency • Strategic initiatives delivering - More
Slide 64: Business Strategies
Business Strategies • Maintain best-in-class operations, in all respects • Provide quality, valued products and services to customers • Lead industry in efficiency and effectiveness • Capitalize on integration with other ExxonMobil businesses • Selectively invest for resilient, advantaged returns •
Slide 65: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 66: Global Scale and Integration
Americas 15 Refineries Europe/AME 14 Refineries Asia-Pacific 11 Refineries • Largest global refiner • Largest global supplier & marketer of petroleum products • Largest manufacturer & marketer of basestocks and synthetic lubes • Largest global producer of polyolefins and paraxylene Global Scale and
Slide 67: Refining Structural Advantages
Americas AP XOM RDS BP Average Refinery Size KBD XOM BP RDS Industry Source: Equity capacity calculated on consistent basis using public information Refining Structural Advantages Downstream: Portfolio Quality / Global Integration Integration with Chemicals or Lubes XOM RDS BP Industry Capacity and
Slide 68: Global Fuel Sales
Global Fuel Sales Downstream: Portfolio Quality / Global Integration • Largest supplier & marketer of petroleum products • Leveraging integration with refining • Broad spectrum of customer channels • Product placement for highest value • Global systems, work processes and best practices I&W Sales 24
Slide 69: Market Share
Market Share • Largest manufacturer and marketer of lube basestocks • Leveraging integration with refining • Leader in marketing finished lubes • Strong OEM relationships • Technically advanced products % Downstream: Portfolio Quality / Global Integration Basestocks Finished Lubes Lubes Marketing St
Slide 70: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 71: Self-Help: Refining Operating Efficiency
Source: Solomon Energy Index XOM Industry Personnel Index XOM Industry Unit Cash Costs XOM Industry Indexed Indexed Indexed Self-Help: Refining Operating Efficiency Downstream: Discipline and Consistency
Slide 72: Self-Help: Marketing Operating Efficiencies
Self-Help: Marketing Operating Efficiencies Downstream: Discipline and Consistency Indexed Workforce Blend Plants Order Centers Product Complexity Lubes Operating Efficiencies Fuels Operating Efficiencies Workforce Order Centers Retail Sites Indexed Fuels Sales per Site Source: ExxonMobil ’01 ’02 ’0
Slide 73: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 74: Self-Help: Refining Raw Material Flexibility
Challenged Crude Runs Crude API Gravity Source: ExxonMobil Self-Help: Refining Raw Material Flexibility Downstream: Value Maximization Indexed Crude Sulfur Weight % Indexed Indexed '03 '04 '05 '06 '00 '02 '04 '06 '00 '02 '04 '06
Slide 75: Self-Help: Refining Margin Enhancement
Self-Help: Refining Margin Enhancement Molecule Management $M/Year, before-tax Molecular Fingerprinting Process Modeling Process Control and Optimization Scheduling and Blending Downstream: Value Maximization Source: ExxonMobil '02 '03 '04 '05 '06 '07 '08 '09
Slide 76: Self-Help: Economic Refining Growth
Source: ExxonMobil / OG&J, 100% basis, ex divestments Conversion Capacity Growth Distillation Capacity Growth ~50 KBD per year ~35 KBD per year KBD KBD Self-Help: Economic Refining Growth Downstream: Value Maximization “Equivalent to a new refinery every 3 years” '96 '01 '06 '96 '01 '06
Slide 77: Self-Help: Fuels Marketing
Self-Help: Fuels Marketing $M*, Indexed Asset Utilization Nonfuels Income Growth Breakeven Fuels Margin Volume / $ of asset, Indexed Downstream: Value Maximization U.S. Retail Margin, cpg Indexed * Before tax Source: ExxonMobil '02 '04 '06 '02 '04 '06 '02 '04 '06
Slide 78: Self-Help: Lubes Marketing
Finished Lube Sales Volume, Indexed Growth Markets XOM Industry* Self-Help: Lubes Marketing Flagship Products Volume, Indexed Downstream: Value Maximization XOM Industry* * ExxonMobil estimate '02 '03 '04 '05 '06 '02 '03 '04 '05 '06
Slide 79: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 80: ExonMobi
ExonMobi
Slide 81: Technology Leadership
Technology Leadership Downstream: Long-Term Perspective Heavy Oil Upgrading Resid Separation Lower Cost Lube Feeds Corrosion Sensing Mini Crude Assay Slurry Decoking Valve Online Composition Energy / Fouling Reduction Reliability Initiative Diesel Hydrotreating Catalyst Operator Guidance Tools SCANf
Slide 82: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 83: Self-Help Drives Earnings Growth
Self-Help Inflation, Forex, and Activity Industry Margins $8.5B $3.4B Earnings Self-Help Drives Earnings Growth Downstream
Slide 84: Industry-Leading Returns
Industry-Leading Returns *Competitor data estimated using a consistent basis with ExxonMobil, and based on public information. Downstream: Growing Competitive Advantage Average Capital Employed* $B XOM RDS BP ’02 ’06 ’02 ’06 ’02 ’06 Return on Average Capital Employed* % Reported Net Income* $B ’02 ’
Slide 85: Chemical Overview
Chemical Overview Analyst Meeting March 7, 2007 . .
Slide 86: 2006 Highlights
2006 Highlights • Record financial performance - Earnings $4.4 B - ROCE 33.2 % • Operational excellence continues - Safety and energy efficiency • Strategic initiatives delivering - Over $450M AT “self-help” each year • Positioning for future growth Chemical
Slide 87: Business Strategies
Business Strategies Long-term strategy built on ExxonMobil’s core competencies • Unique portfolio of global integrated businesses • Integration across ExxonMobil operations • Relentless focus on operational excellence • Disciplined investment in advantaged projects • Technology leadership Chemical
Slide 88: Company Strengths
Company Strengths Growing Competitive Advantage Discipline and Consistency Value Maximization Long-Term Perspective Global Integration Portfolio Quality
Slide 89: High-Performing Business Portfolio
High-Performing Business Portfolio ExxonMobil Chemical Earnings Chemical: Portfolio Quality $B Aromatics Olefins Polyethylene Polypropylene Specialty Businesses Commodity Businesses Rank* *Based on worldwide market position Butyl Fluids Oxo Synthetics Films Adhesion Specialty Elastomers Additives ‘9
Slide 90: Long-Standing Integration Advantage
Long-Standing Integration Advantage Chemical: Global Integration Areas of Synergy • Advantaged feed access • Molecule optimization • Shared site services • Global processes / systems Petrochemical Plant Crude Oil and Feedstocks Gas Processing Natural Gas Refinery
Slide 91: Operational Excellence “Self-Help”
Operational Excellence “Self-Help” Energy Initiatives Per unit of production, indexed MT, cumulative vs 2001 Producibility Gains Marketing Improvements Workforce #, indexed Steamcracking Other Operations M$, indexed Chemical: Discipline and Consistency '02 '06 '02 '06 '02 '06 '02 '06 0.0 0.5 1.0 1.5
Slide 92: Advantaged Feedstocks
Advantaged Feedstocks Chemical: Value Maximization MT, indexed Advantaged Steamcracking Feeds Ethylene Net Feed Cost Advantage vs benchmark feedstock Benchmark ExxonMobil '02 '06 20% Advantage
Slide 93: Premium Product Growth
Premium Product Growth Premium Products Chemical: Value Maximization MT, indexed Unique Customer Applications New Product Development '02 '04 '06
Slide 94: Major Growth Projects
Major Growth Projects Chemical: Long-Term Perspective Fujian Singapore Qatar Saudi Arabia Sources of Advantage Premium products focus Advantaged feedstock Integration and scale Proprietary technology MT Existing Announced XOM BP RDS TOT Dow Asia Pacific / Middle East Capacities
Slide 95: Technology Leadership
Deployment Development Discovery Chemical: Long-Term Perspective Technology Leadership Advanced Tire Innerliners Vistamaxx Polymer Composites Soft Non-Woven Polymers Improved Stiffness/ Toughness Advanced Solution Polymerization Butyl Enhancements Zeolite Catalyst Extensions Advantaged Polyolefins L
Slide 96: Delivering Superior Returns
Delivering Superior Returns Average Capital Employed* Reported Net Income* $B $B Return on Average Capital Employed* XOM RDS CVX Dow *Competitor data estimated using a consistent basis with ExxonMobil, and based on public information. % Chemical: Growing Competitive Advantage ’02 ’06 ’02 ’06 ’02 ’06
Slide 97: Summary
Summary Analyst Meeting March 7, 2007 . .
Slide 98: Company Strengths Deliver Superior Performance
Company Strengths Deliver Superior Performance • Industry-leading portfolio of businesses and assets • Unmatched integration capabilities • Global functional organization leveraging high quality people • Disciplined and consistent approach across the business • Commitment to technology leadership •
Slide 99: Long-Term Advantage for Shareholders
14% 16% 18% 20% 22% 24% 26% 28% 11% 12% 13% 14% 15% 16% Long-Term Advantage for Shareholders S&P 500 Higher Return Lower Return Higher Volatility Lower Volatility 20 year Annualized Total Return vs. Volatility of Returns
Slide 100: Proven Long-Term Approach
Disciplined Investment Operational Excellence Industry Leading Returns Superior Cash Flow Growth in Shareholder Value Proven Long-Term Approach