Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC.
Details concerning the nominees of ExxonMobils Board of Directors for election at the 2021 Annual Meeting are included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL
RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANYS DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO AND ACCOMPANYING BLUE PROXY CARD, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and shareholders can
obtain a copy of the Proxy Statement and other relevant documents filed by ExxonMobil free of charge from the SECs website, www.sec.gov. ExxonMobils shareholders can also obtain, without charge, a copy of the Proxy Statement and other
relevant filed documents by directing a request by mail to ExxonMobil Shareholder Services at 5959 Las Colinas Boulevard, Irving, Texas, 75039-2298 or at shareholderrelations@exxonmobil.com or from the investor relations section of ExxonMobils
website, www.exxonmobil.com/investor.
End Notes:
1.
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Following are as examples of two false claims by Engine No. 1.
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Engine No. 1 Claim: An Engine No. 1 press release on March 3, 2021, critical of ExxonMobils 2021 Investor Day presentation and describing a
white paper issued by Engine No. 1, said the following:
This analysis [Engine No. 1 white paper] details an evolving industry that requires significant long-term business model
innovation to enhance and protect shareholder value, which contrasts sharply with the outlook set forth by ExxonMobil in its presentation to investors today.
About 2/3 of world greenhouse gas (GHG) emissions come from countries that
have net zero targets for emissions (mostly for 2050), and achieving those goals (or even coming close) will likely cause an implosion in fossil fuel demand, yet ExxonMobils presentation does not explore this widely-known range of possible
outcomes. (Emphasis added)
Fact: ExxonMobils 2021 Investor Day presentation showed a broad range of potential outcomes and discussed key technology requirements
of the future energy system. Future demand discussions were primarily based on scenarios from the UN Intergovernmental Panel on Climate Changes Lower 2C scenarios from the
IPCC 2018 Special Report (SR1.5) (on the impacts of global warming of 1.5°C above pre-industrial levels and related global greenhouse gas emission pathway), and included additional information from the IPCCs Fifth
Assessment Report (AR5). References to IPCC data can be found in ExxonMobils 2021 Investor Day
presentation on pages 8, 9, 10, 14, 16, 18, 21, 59, 66, 68 and 69.
Engine No 1 Claim: In its March 3 white paper, Engine No. 1 said the
following:
What remains is a shrinking group of oil majors, notably ExxonMobil, that still cling to old
forecasting methods and results. At its annual investor day in March, 2020, which was held as the pandemic started gripping the world economy, ExxonMobil painted a future unaware of how the world of policy was changing: rising demand, a
big gap in necessary investment and a litany of concerns about mobilizing the investment needed to fill that gap. (Emphasis added)
Fact: ExxonMobils 2020 Investor Day presentation used data from the
respected International Energy Associations Stated Policy Scenarios (STEPS) and Sustainable Development Scenario (SDS) which evaluate two very different policy environments. Per the IEA, STEPS
incorporates todays policy intentions and targets, while the SDS provides a strategic pathway to meet global climate, air quality and energy access goals in full. Even in the IEA SDS, which is a scenario that limits warming to less than 2
degrees Celsius, the IEA stated that $13 trillion in oil and gas investment is required over the next 20 years to meet demand. ExxonMobils Outlook for Energy and Energy and Carbon Summary also highlight
the role of policy and technology in determining future demand. References to the IEA scenarios can be found in ExxonMobils 2020 Investor Day presentation on pages 14, 20, 21, 22, 23 and 161.
2.
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