Sustainably Growing Shareholder Value

COMPETITIVE ADVANTAGES DRIVE LCS FOCUS AREAS Leveraging existing capabilities will be key to developing CCS, hydrogen, and biofuels Scale Global leader in carbon capture, representing one-fifth of global capacity (~9 Mta)1 Strong relationships with governments across the world built on decades of in-country experience Financial capacity to lead world-scale capital-intensive developments Integration Large, efficient refining footprint with opportunities to repurpose assets for production of low-cost biofuels Global brand and large fuels marketing organization provides strong market access for biofuels Existing major producer and user of hydrogen in refineries and chemical plants Technology Functional excellence and talent Leading proprietary refining process and catalyst technologies to produce advantaged biofuels Multi-disciplinary programs to develop lower-cost carbon capture, hydrogen production, and biofuel feedstock Extensive low-emission collaboration programs with leading government and academic institutions Subsurface technology and reservoir management experience critical for CO2 storage. Demonstrated global leader in successful execution of large-scale projects See Supplemental Information for footnotes. 19

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