Engine No. 1 Activist Presentation Deck

Assumptions Regarding Impact of Population Growth ExxonMobil points to population growth, particularly in the developing world, and the historical page of change in the industry in predicting future growth in fossil fuel demand ● This conclusion does not necessarily follow, however, as continued energy demand growth could also accelerate global decarbonization efforts Oil Demand - Current Trajectory vs Paris (<20C) Trajectory By 2nd stocktake demand is 15% ahead of a <2C pathway 3 Oil Demand (Mbpd) 110 Quote and Chart Source: Redburn Oil Majors: Lost in Transition report, September 5, 2019. 100 90 80 70 60 Demand is expected to grow 0.5% pa to 2040 2016 2017 2018 2019 First Paris stocktake in 2023 2020 2021 2022 2023 2024 1 U Adverse climatic effects pose severe downside risks to demand 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Paris (<2°C) Trajectory Current Trajectory "If no significant action is taken between now and 2040 oil demand is expected to be c52% higher than required under a <2 degree compliant pathway. In this scenario, adverse climatic and weather effects present considerable downside risk to oil demand." - Redburn, Sept. 5, 2019 • Historical rates of response to climate change may also be poor predictors, given that efforts may accelerate as impacts grow increasingly clear, and the developing countries ExxonMobil is counting on for demand growth are likely to suffer the worst impacts of climate change • ~2/3 of the world's emissions come from countries with net zero by 2050 emissions goals, and as soon as later this year at COP 26 countries may significantly increase their commitments, as the US has already indicated it will do REENERGIZE EXXON// 78

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