Engine No. 1 Activist Presentation Deck

Reenergizing ExxonMobil for today and tomorrow requires real change POSITIONS TO ENHANCE AND PROTECT LONG-TERM VALUE CREATION POSITIONS TO RISK CONTINUED LONG-TERM VALUE DESTRUCTION BOARD COMPOSITION Four new independent directors with successful track records in energy Lack of directors with successful and transformative energy experience LONG-TERM STRATEGY Gradually but purposefully repositioning company to succeed in a decarbonizing world Lack of material business diversification Focus on emissions intensity only CAPITAL ALLOCATION Long-term commitment to a coherent returns-focused capex strategy Lack of consistent focus on capex discipline INCENTIVES Better aligning performance goals to clear drivers of shareholder value Lack of sufficient focus in rewarding value creation and lack of clear and consistent metrics It wonte Evren "Engine No. 1 has sensible recommendations. It wants Exxon to appoint new independent directors with outside energy experience, invest only in projects with lower break-even oil and gas prices, consider using existing skills and scale to invest in growing areas such as renewable energy, and change compensation policy." Reuters Breakingviews, December 7, 2020 REENERGIZE EXXON// 18

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