Sustainably Growing Shareholder Value
SUSTAINABLY GROWING SHAREHOLDER VALUE
Positioned to capitalize on opportunities across broad range of market conditions and energy transition scenarios
STRATEGIC PRIORITIES
Leading earnings and
cash flow growth
Maintaining a strong
balance sheet
Highest earnings among international oil companies in 20211
Upgrading portfolio through competitively-advantaged investments and mix improvements
Driving operating and capital efficiency to improve resiliency through the cycles
Potential to double earnings and cash flow by 2027 versus 2019
Strong investment-grade rating
Fast approaching low end of targeted debt-to-capital range (20-25%)
Expecting >$2 billion of further debt reduction in 2022
Growing shareholder
distributions
Paid $15 billion in dividends to shareholders in 2021
39 consecutive years of annual dividend growth
Recently initiated a $10 billion share-repurchase program
See Supplemental Information for footnotes and definitions.
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