Exxon Mobil Corp 10-Q

ITEM 1. FINANCIAL STATEMENTS The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. Due to rounding, numbers presented may not add up precisely to the totals indicated. CONDENSED CONSOLIDATED STATEMENT OF INCOME (millions of dollars, unless noted) Note Reference Number Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues and other income Sales and other operating revenue 3 114,529 79,477 197,690 160,535 Income from equity affiliates 893 1,462 2,262 2,831 Other income 595 567 1,203 1,270 Total revenues and other income 116,017 81,506 201,155 164,636 Costs and other deductions Crude oil and product purchases 67,801 45,327 119,603 92,115 Production and manufacturing expenses 12,250 10,102 22,945 20,185 Selling, general and administrative expenses 2,483 2,528 5,167 5,068 Depreciation and depletion (includes impairments) 8,689 6,101 15,460 11,803 Exploration expenses, including dry holes (1) 155 251 281 315 Non-service pension and postretirement benefit expense 4 32 90 94 203 Interest expense 227 145 522 350 Other taxes and duties 4,956 6,257 10,692 12,292 Total costs and other deductions 96,593 70,801 174,764 142,331 Income (loss) before income taxes 19,424 10,705 26,391 22,305 Income tax expense (benefit) 4,543 3,351 7,038 6,918 Net income (loss) including noncontrolling interests 14,881 7,354 19,353 15,387 Net income (loss) attributable to noncontrolling interests 356 272 645 592 Net income (loss) attributable to ExxonMobil 14,525 7,082 18,708 14,795 Earnings (loss) per common share (dollars) 2 3.48 1.64 4.47 3.40 Earnings (loss) per common share - assuming dilution (dollars) 2 3.48 1.64 4.47 3.40 (1) Includes $ 40 million related to the write-off of exploratory well costs in 2025 that were previously capitalized for greater than one year at December 31, 2024. 4 Table of Contents CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (millions of dollars) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net income (loss) including noncontrolling interests 14,881 7,354 19,353 15,387 Other comprehensive income (net of income taxes) Foreign exchange translation adjustment ( 452 ) 2,206 ( 715 ) 2,508 Adjustment for foreign exchange translation (gain)/loss included in net income 1 — ( 4 ) — Postretirement benefits reserves adjustment (excluding amortization) ( 51 ) ( 12 ) ( 86 ) ( 46 ) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs ( 25 ) 7 ( 52 ) 30 Total other comprehensive income (loss) ( 527 ) 2,201 ( 857 ) 2,492 Comprehensive income (loss) including noncontrolling interests 14,354 9,555 18,496 17,879 Comprehensive income (loss) attributable to noncontrolling interests 280 571 474 901 Comprehensive income (loss) attributable to ExxonMobil 14,074 8,984 18,022 16,978 5 Table of Contents CONDENSED CONSOLIDATED BALANCE SHEET (millions of dollars, unless noted) Note Reference Number June 30, 2026 December 31, 2025 ASSETS Current assets Cash and cash equivalents 10,588 10,681 Notes and accounts receivable – net 60,558 44,562 Inventories Crude oil, products and merchandise 22,363 22,979 Materials and supplies 3,200 3,323 Other current assets 4,084 1,837 Total current assets 100,793 83,382 Investments, advances and long-term receivables 45,605 45,317 Property, plant and equipment – net 296,298 299,373 Other assets, including intangibles – net 21,786 20,908 Total Assets 464,482 448,980 LIABILITIES Current liabilities Notes and loans payable 10,139 9,296 Accounts payable and accrued liabilities 74,491 60,911 Income taxes payable 4,200 2,123 Total current liabilities 88,830 72,330 Long-term debt 32,229 34,241 Postretirement benefits reserves 9,068 8,847 Deferred income tax liabilities 39,546 40,216 Long-term obligations to equity companies 549 542 Other long-term obligations 28,149 26,178 Total Liabilities 198,371 182,354 Commitments and contingencies 7 EQUITY Common stock without par value ( 9,000 million shares authorized, 8,019 million shares issued) 46,636 46,150 Earnings reinvested 492,569 482,494 Accumulated other comprehensive income 5 ( 11,549 ) ( 10,863 ) Common stock held in treasury ( 3,907 million shares at June 30, 2026 and 3,840 million shares at December 31, 2025 ) ( 268,276 ) ( 258,395 ) ExxonMobil share of equity 259,380 259,386 Noncontrolling interests 6,731 7,240 Total Equity 266,111 266,626 Total Liabilities and Equity 464,482 448,980 6 Table of Contents CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (millions of dollars) Six Months Ended June 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) including noncontrolling interests 19,353 15,387 Depreciation and depletion (includes impairments) 15,460 11,803 Changes in operational working capital, excluding cash and debt ( 3,857 ) ( 4,848 ) All other items – net 1,304 2,161 Net cash provided by operating activities 32,260 24,503 CASH FLOWS FROM INVESTING ACTIVITIES Additions to property, plant and equipment ( 12,997 ) ( 12,181 ) Proceeds from asset sales and returns of investments 649 1,999 Additional investments and advances ( 711 ) ( 472 ) Other investing activities including collection of advances 734 339 Net cash used in investing activities ( 12,325 ) ( 10,315 ) CASH FLOWS FROM FINANCING ACTIVITIES Additions to long-term debt 894 883 Reductions in long-term debt ( 135 ) ( 13 ) Additions to short-term debt (1) — 172 Reductions in short-term debt (1) ( 5,500 ) ( 4,676 ) Additions/(reductions) in commercial paper, and debt with three months or less maturity 3,912 257 Contingent consideration payments ( 125 ) ( 79 ) Cash dividends to ExxonMobil shareholders ( 8,633 ) ( 8,623 ) Cash dividends to noncontrolling interests ( 332 ) ( 452 ) Changes in noncontrolling interests 61 ( 10 ) Inflows from noncontrolling interests for major projects — 45 Common stock acquired ( 10,007 ) ( 9,768 ) Net cash used in financing activities ( 19,865 ) ( 22,264 ) Effects of exchange rate changes on cash ( 163 ) 600 Increase/(decrease) in cash and cash equivalents (including restricted) ( 93 ) ( 7,476 ) Cash and cash equivalents at beginning of period (including restricted) 10,681 23,187 Cash and cash equivalents at end of period (including restricted) 10,588 15,711 SUPPLEMENTAL DISCLOSURES Cash interest paid Included in cash flows from operating activities 402 169 Capitalized, included in cash flows from investing activities 508 707 Total cash interest paid 910 876 Noncash right of use assets recorded in exchange for lease liabilities Operating leases 1,737 900 Finance leases 52 6 (1) Includes commercial paper with a maturity greater than three months. 7 Table of Contents CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ExxonMobil Share of Equity (millions of dollars, unless noted) Common Stock Earnings Reinvested Accumulated Other Comprehensive Income Common Stock Held in Treasury ExxonMobil Share of Equity Non- controlling Interests Total Equity Balance as of March 31, 2025 46,426 474,290 ( 14,338 ) ( 243,658 ) 262,720 7,086 269,806 Amortization of stock-based awards 220 — — — 220 — 220 Other ( 17 ) ( 23 ) — — ( 40 ) 23 ( 17 ) Net income (loss) for the period — 7,082 — — 7,082 272 7,354 Dividends - common shares — ( 4,288 ) — — ( 4,288 ) ( 311 ) ( 4,599 ) Other comprehensive income (loss) — — 1,902 — 1,902 299 2,201 Share repurchases, at cost — — — ( 5,014 ) ( 5,014 ) — ( 5,014 ) Dispositions — — — 11 11 — 11 Balance as of June 30, 2025 46,629 477,061 ( 12,436 ) ( 248,661 ) 262,593 7,369 269,962 Balance as of March 31, 2026 46,426 482,344 ( 11,098 ) ( 263,291 ) 254,381 6,615 260,996 Amortization of stock-based awards 226 — — — 226 — 226 Other ( 16 ) ( 1 ) — — ( 17 ) ( 2 ) ( 19 ) Net income (loss) for the period — 14,525 — — 14,525 356 14,881 Dividends - common shares — ( 4,299 ) — — ( 4,299 ) ( 162 ) ( 4,461 ) Other comprehensive income (loss) — — ( 451 ) — ( 451 ) ( 76 ) ( 527 ) Share repurchases, at cost — — — ( 4,994 ) ( 4,994 ) — ( 4,994 ) Dispositions — — — 9 9 — 9 Balance as of June 30, 2026 46,636 492,569 ( 11,549 ) ( 268,276 ) 259,380 6,731 266,111 Balance as of December 31, 2024 46,238 470,903 ( 14,619 ) ( 238,817 ) 263,705 6,901 270,606 Amortization of stock-based awards 414 — — — 414 — 414 Other ( 23 ) ( 14 ) — — ( 37 ) 19 ( 18 ) Net income (loss) for the period — 14,795 — — 14,795 592 15,387 Dividends - common shares — ( 8,623 ) — — ( 8,623 ) ( 452 ) ( 9,075 ) Other comprehensive income (loss) — — 2,183 — 2,183 309 2,492 Share repurchases, at cost — — — ( 9,866 ) ( 9,866 ) — ( 9,866 ) Dispositions — — — 22 22 — 22 Balance as of June 30, 2025 46,629 477,061 ( 12,436 ) ( 248,661 ) 262,593 7,369 269,962 Balance as of December 31, 2025 46,150 482,494 ( 10,863 ) ( 258,395 ) 259,386 7,240 266,626 Amortization of stock-based awards 530 — — — 530 — 530 Other ( 44 ) — — — ( 44 ) ( 639 ) ( 683 ) Net income (loss) for the period — 18,708 — — 18,708 645 19,353 Dividends - common shares — ( 8,633 ) — — ( 8,633 ) ( 344 ) ( 8,977 ) Other comprehensive income (loss) — — ( 686 ) — ( 686 ) ( 171 ) ( 857 ) Share repurchases, at cost — — — ( 9,911 ) ( 9,911 ) — ( 9,911 ) Dispositions — — — 30 30 — 30 Balance as of June 30, 2026 46,636 492,569 ( 11,549 ) ( 268,276 ) 259,380 6,731 266,111 Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 Common Stock Share Activity (millions of shares) Issued Held in Treasury Outstanding Issued Held in Treasury Outstanding Balance as of March 31 8,019 ( 3,874 ) 4,145 8,019 ( 3,709 ) 4,310 Share repurchases, at cost — ( 33 ) ( 33 ) — ( 47 ) ( 47 ) Balance as of June 30 8,019 ( 3,907 ) 4,112 8,019 ( 3,756 ) 4,263 Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 Balance as of December 31 8,019 ( 3,840 ) 4,179 8,019 ( 3,666 ) 4,353 Share repurchases, at cost — ( 67 ) ( 67 ) — ( 90 ) ( 90 ) Balance as of June 30 8,019 ( 3,907 ) 4,112 8,019 ( 3,756 ) 4,263 8 Table of Contents NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Due to rounding, numbers presented may not add up precisely to the totals indicated. Note 1. Basis of Financial Statement Preparation On July 1, 2026, Exxon Mobil Corporation, a New Jersey corporation ( "EMC" ), completed its previously announced redomiciliation reorganization (the "Redomiciliation Merger" ), pursuant to which ExxonMobil Holdings Corporation, a Texas corporation ( "EMHC" ), became the publicly traded parent company of the ExxonMobil consolidated group. The Redomiciliation Merger became effective on July 1, 2026. At the effective time of the Redomiciliation Merger, each outstanding share of EMC common stock, without par value, was automatically exchanged for one share of EMHC common stock with a par value of $ 0.001 per share, and former EMC shareholders became shareholders of EMHC holding the same number and percentage ownership interests immediately following the transaction. EMHC replaced EMC as the publicly held corporation traded on the New York Stock Exchange under the ticker symbol "XOM" and became the successor registrant of EMC's common stock pursuant to Rule 12g-3(a) under the Securities Exchange Act of 1934. As of the effective time of the Redomiciliation Merger, the rights of EMHC shareholders are governed by the Texas Business Organizations Code and the governing organizational documents of EMHC. Prior to the Redomiciliation Merger, shareholder rights were governed by the New Jersey Business Corporation Act and EMC's governing organizational documents. Unless otherwise indicated, references herein to "ExxonMobil," the "Corporation," "we," "our," and "us" refer to the ExxonMobil consolidated group, which was headed by EMC through June 30, 2026, and by EMHC thereafter. The accompanying Condensed Consolidated Financial Statements reflect periods prior to the completion of the Redomiciliation Merger. The Redomiciliation Merger did not change the Corporation's consolidated business, operations, assets, liabilities, or financial reporting basis. These unaudited Condensed Consolidated Financial Statements should be read in the context of the Consolidated Financial Statements and notes thereto filed with the Securities and Exchange Commission in the Corporation's 2025 Annual Report on Form 10-K. In the opinion of the Corporation, the information furnished herein reflects all known accruals and adjustments necessary for a fair statement of the results for the periods reported herein. All such adjustments are of a normal recurring nature. The Corporation's exploration and production activities are accounted for under the "successful efforts" method. Note 2. Earnings Per Share Earnings per common share Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net income (loss) attributable to ExxonMobil (millions of dollars) 14,525 7,082 18,708 14,795 Weighted-average number of common shares outstanding (millions of shares) (1) 4,174 4,331 4,188 4,351 Earnings (loss) per common share (dollars) (2) 3.48 1.64 4.47 3.40 Dividends paid per common share (dollars) 1.03 0.99 2.06 1.98 (1) Includes restricted shares not vested. (2) Earnings (loss) per common share and earnings (loss) per common share – assuming dilution are the same in each period shown. 9 Table of Contents Note 3. Disclosures about Segments and Related Information Our four reportable segments are Upstream, Energy Products, Chemical Products, and Specialty Products. (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Three Months Ended June 30, 2026 Revenues and other income Sales and other operating revenue 8,201 4,479 38,517 51,091 2,552 4,335 1,596 3,732 114,503 Income from equity affiliates ( 95 ) 682 40 171 ( 15 ) 180 2 ( 11 ) 954 Intersegment revenue 9,916 11,931 10,258 9,309 2,023 998 590 125 45,150 Other income 286 57 76 81 — 2 1 33 536 Segment revenues and other income 18,308 17,149 48,891 60,652 4,560 5,515 2,189 3,879 161,143 Costs and other items Crude oil and product purchases 7,013 3,444 41,997 50,164 2,469 3,520 1,260 2,479 112,346 Operating expenses, excl. depreciation and depletion (1) 4,603 2,734 2,049 2,394 1,095 1,038 515 531 14,959 Depreciation and depletion (includes impairments) 4,066 1,918 272 1,343 198 187 26 52 8,062 Interest expense 13 15 1 1 — 1 1 1 33 Other taxes and duties 139 222 764 3,718 29 31 6 47 4,956 Total costs and other deductions 15,834 8,333 45,083 57,620 3,791 4,777 1,808 3,110 140,356 Segment income (loss) before income taxes 2,474 8,816 3,808 3,032 769 738 381 769 20,787 Income tax expense (benefit) 554 2,527 764 401 170 189 96 93 4,794 Segment net income (loss) incl. noncontrolling interests 1,920 6,289 3,044 2,631 599 549 285 676 15,993 Net income (loss) attributable to noncontrolling interests — 282 57 153 — 17 ( 2 ) 7 514 Segment income (loss) 1,920 6,007 2,987 2,478 599 532 287 669 15,479 Reconciliation of consolidated revenues Segment revenues and other income 161,143 Other revenues (2) 24 Elimination of intersegment revenues ( 45,150 ) Total consolidated revenues and other income 116,017 Reconciliation of income (loss) attributable to ExxonMobil Total segment income (loss) 15,479 Corporate and Financing income (loss) ( 954 ) Net income (loss) attributable to ExxonMobil 14,525 (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Three Months Ended June 30, 2026 Additions to property, plant and equipment (3) 3,103 2,356 333 190 255 43 15 20 6,315 As of June 30, 2026 Investments in equity companies 5,794 19,236 476 1,621 2,837 2,724 — 759 33,447 Total assets 152,299 135,092 41,206 53,366 18,012 18,827 2,866 8,342 430,010 Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total Three Months Ended June 30, 2026 Additions to property, plant and equipment (3) 6,315 392 6,707 As of June 30, 2026 Investments in equity companies 33,447 ( 123 ) 33,324 Total assets 430,010 34,472 464,482 (1) Operating expenses, excl. depreciation and depletion includes the following GAAP line items, as reflected on the Income Statement: Production and manufacturing expenses; Selling, general and administrative expenses; Exploration expenses, including dry holes; and Non-service pension and postretirement benefit expense. (2) Primarily Corporate and Financing Interest revenue of $ 145 million . (3) Includes non-cash additions. 10 Table of Contents (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Three Months Ended June 30, 2025 Revenues and other income Sales and other operating revenue 5,939 3,286 25,072 34,917 1,970 3,700 1,438 3,134 79,456 Income from equity affiliates 5 1,300 36 28 38 129 3 ( 10 ) 1,529 Intersegment revenue 6,230 8,824 4,502 6,512 1,668 790 551 113 29,190 Other income 93 23 26 54 — 3 2 31 232 Segment revenues and other income 12,267 13,433 29,636 41,511 3,676 4,622 1,994 3,268 110,407 Costs and other items Crude oil and product purchases 4,533 2,006 25,515 33,551 2,136 3,204 1,073 2,025 74,043 Operating expenses, excl. depreciation and depletion (1) 2,716 2,480 1,940 2,272 1,096 1,194 510 556 12,764 Depreciation and depletion (includes impairments) 3,356 1,733 198 170 148 138 27 43 5,813 Interest expense 22 16 ( 1 ) 1 — — — 2 40 Other taxes and duties 49 531 830 4,744 18 39 1 44 6,256 Total costs and other deductions 10,676 6,766 28,482 40,738 3,398 4,575 1,611 2,670 98,916 Segment income (loss) before income taxes 1,591 6,667 1,154 773 278 47 383 598 11,491 Income tax expense (benefit) 379 2,332 264 159 23 3 91 106 3,357 Segment net income (loss) incl. noncontrolling interests 1,212 4,335 890 614 255 44 292 492 8,134 Net income (loss) attributable to noncontrolling interests — 145 65 73 — 6 1 3 293 Segment income (loss) 1,212 4,190 825 541 255 38 291 489 7,841 Reconciliation of consolidated revenues Segment revenues and other income 110,407 Other revenues (2) 289 Elimination of intersegment revenues ( 29,190 ) Total consolidated revenues and other income 81,506 Reconciliation of income (loss) attributable to ExxonMobil Total segment income (loss) 7,841 Corporate and Financing income (loss) ( 759 ) Net income (loss) attributable to ExxonMobil 7,082 (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Three Months Ended June 30, 2025 Additions to property, plant and equipment (3) 3,047 2,022 145 258 161 101 39 50 5,823 As of December 31, 2025 Investments in equity companies 5,491 19,429 460 1,048 2,946 2,616 — 775 32,765 Total assets 153,042 134,529 32,652 47,265 17,365 17,991 2,961 8,020 413,825 Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total Three Months Ended June 30, 2025 Additions to property, plant and equipment ( 3) 5,823 532 6,355 As of December 31, 2025 Investments in equity companies 32,765 ( 112 ) 32,653 Total assets 413,825 35,155 448,980 (1) Operating expenses, excl. depreciation and depletion includes the following GAAP line items, as reflected on the Income Statement: Production and manufacturing expenses; Selling, general and administrative expenses; Exploration expenses, including dry holes; and Non-service pension and postretirement benefit expense. (2) Primarily Corporate and Financing Interest revenue of $ 312 million . (3) Includes non-cash additions. 11 Table of Contents (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Six Months Ended June 30, 2026 Revenues and other income Sales and other operating revenue 15,466 7,292 64,507 88,295 4,522 7,839 2,968 6,750 197,639 Income from equity affiliates ( 156 ) 1,588 74 609 17 282 3 ( 29 ) 2,388 Intersegment revenue 17,509 21,954 16,679 16,414 3,715 1,975 1,086 265 79,597 Other income 532 96 105 132 — 3 4 62 934 Segment revenues and other income 33,351 30,930 81,365 105,450 8,254 10,099 4,061 7,048 280,558 Costs and other items Crude oil and product purchases 13,096 6,287 70,191 90,131 4,419 7,081 2,232 4,588 198,025 Operating expenses, excl. depreciation and depletion (1) 7,638 5,247 4,362 4,511 2,270 2,076 1,017 1,028 28,149 Depreciation and depletion (includes impairments) 7,904 3,788 479 1,559 347 344 49 90 14,560 Interest expense 8 21 3 4 — 1 2 1 40 Other taxes and duties 207 551 1,495 8,210 44 78 10 97 10,692 Total costs and other deductions 28,853 15,894 76,530 104,415 7,080 9,580 3,310 5,804 251,466 Segment income (loss) before income taxes 4,498 15,036 4,835 1,035 1,174 519 751 1,244 29,092 Income tax expense (benefit) 1,004 4,483 1,065 200 256 172 193 183 7,556 Segment net income (loss) incl. noncontrolling interests 3,494 10,553 3,770 835 918 347 558 1,061 21,536 Net income (loss) attributable to noncontrolling interests — 383 122 280 — 24 ( 3 ) 15 821 Segment income (loss) 3,494 10,170 3,648 555 918 323 561 1,046 20,715 Reconciliation of consolidated revenues Segment revenues and other income 280,558 Other revenues (2) 194 Elimination of intersegment revenues ( 79,597 ) Total consolidated revenues and other income 201,155 Reconciliation of income (loss) attributable to ExxonMobil Total segment income (loss) 20,715 Corporate and Financing income (loss) ( 2,007 ) Net income (loss) attributable to ExxonMobil 18,708 (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Six Months Ended June 30, 2026 Additions to property, plant and equipment (3) 6,378 4,241 1,184 356 407 68 49 39 12,722 As of June 30, 2026 Investments in equity companies 5,794 19,236 476 1,621 2,837 2,724 — 759 33,447 Total assets 152,299 135,092 41,206 53,366 18,012 18,827 2,866 8,342 430,010 Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total Six Months Ended June 30, 2026 Additions to property, plant and equipment (3) 12,722 739 13,461 As of June 30, 2026 Investments in equity companies 33,447 ( 123 ) 33,324 Total assets 430,010 34,472 464,482 (1) Operating expenses, excl. depreciation and depletion includes the following GAAP line items, as reflected on the Income Statement: Production and manufacturing expenses; Selling, general and administrative expenses; Exploration expenses, including dry holes; and Non-service pension and postretirement benefit expense. (2) Primarily Corporate and Financing Interest revenue of $ 351 million . (3) Includes non-cash additions. 12 Table of Contents (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Six Months Ended June 30, 2025 Revenues and other income Sales and other operating revenue 13,257 7,246 48,957 70,994 3,992 7,085 2,805 6,159 160,495 Income from equity affiliates 9 2,547 72 29 61 269 3 ( 32 ) 2,958 Intersegment revenue 12,786 18,674 9,126 13,184 3,343 1,529 1,100 227 59,969 Other income ( 42 ) 397 82 78 1 2 2 58 578 Segment revenues and other income 26,010 28,864 58,237 84,285 7,397 8,885 3,910 6,412 224,000 Costs and other items Crude oil and product purchases 9,962 5,267 50,621 68,597 4,290 6,219 2,070 4,104 151,130 Operating expenses, excl. depreciation and depletion (1) 5,479 4,761 4,022 4,431 2,159 2,278 982 1,126 25,238 Depreciation and depletion (includes impairments) 6,394 3,422 393 343 293 260 54 81 11,240 Interest expense 59 22 ( 1 ) 2 — — — 2 84 Other taxes and duties 113 1,070 1,617 9,306 34 61 3 88 12,292 Total costs and other deductions 22,007 14,542 56,652 82,679 6,776 8,818 3,109 5,401 199,984 Segment income (loss) before income taxes 4,003 14,322 1,585 1,606 621 67 801 1,011 24,016 Income tax expense (benefit) 921 4,930 358 346 111 ( 3 ) 187 183 7,033 Segment net income (loss) incl. noncontrolling interests 3,082 9,392 1,227 1,260 510 70 614 828 16,983 Net income (loss) attributable to noncontrolling interests — 316 105 189 — 14 1 6 631 Segment income (loss) 3,082 9,076 1,122 1,071 510 56 613 822 16,352 Reconciliation of consolidated revenue Segment revenues and other income 224,000 Other revenues (2) 605 Elimination of intersegment revenues ( 59,969 ) Total consolidated revenues and other income 164,636 Reconciliation of income (loss) attributable to ExxonMobil Total segment income (loss) 16,352 Corporate and Financing income (loss) ( 1,557 ) Net income (loss) attributable to ExxonMobil 14,795 (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Six Months Ended June 30, 2025 Additions to property, plant and equipment (3) 5,827 4,044 261 486 306 218 88 103 11,333 As of December 31, 2025 Investments in equity companies 5,491 19,429 460 1,048 2,946 2,616 — 775 32,765 Total assets 153,042 134,529 32,652 47,265 17,365 17,991 2,961 8,020 413,825 Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total Six Months Ended June 30, 2025 Additions to property, plant and equipment (3) 11,333 1,051 12,384 As of December 31, 2025 Investments in equity companies 32,765 ( 112 ) 32,653 Total assets 413,825 35,155 448,980 (1) Operating expenses, excl. depreciation and depletion includes the following GAAP line items, as reflected on the Income Statement: Production and manufacturing expenses; Selling, general and administrative expenses; Exploration expenses, including dry holes; and Non-service pension and postretirement benefit expense. (2) Primarily Corporate and Financing Interest revenue of $ 675 million . (3) Includes non-cash additions. 13 Table of Contents Revenue from Contracts with Customers Sales and other operating revenue include both revenue within the scope of ASC 606 and outside the scope of ASC 606. Trade receivables in "Notes and accounts receivable – net" reported on the Balance Sheet also includes both receivables within the scope of ASC 606 and those outside the scope of ASC 606. Revenue and receivables outside the scope of ASC 606 primarily relate to physically settled commodity contracts accounted for as derivatives. Contractual terms, credit quality, and type of customer are generally similar between those revenues and receivables within the scope of ASC 606 and those outside it. Sales and other operating revenue (millions of dollars) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue from contracts with customers 72,569 56,680 129,435 113,611 Revenue outside the scope of ASC 606 41,960 22,797 68,255 46,924 Total 114,529 79,477 197,690 160,535 Geographic Sales and Other Operating Revenue (millions of dollars) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 United States 50,892 34,436 87,519 69,043 Non-U.S. 63,637 45,041 110,171 91,492 Total 114,529 79,477 197,690 160,535 Significant Non-U.S. revenue sources include: (1) Canada 10,287 6,804 17,770 13,794 (1) Revenue is determined by primary country of operations. Excludes certain sales and other operating revenues in non-U.S. operations where attribution to a specific country is not practicable. 14 Table of Contents Note 4. Pension and Other Postretirement Benefits (millions of dollars) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Components of net benefit cost Pension Benefits - U.S. Service cost 150 138 277 274 Interest cost 164 171 329 341 Expected return on plan assets ( 165 ) ( 149 ) ( 329 ) ( 298 ) Amortization of actuarial loss/(gain) 5 19 10 37 Amortization of prior service cost ( 7 ) ( 8 ) ( 15 ) ( 15 ) Net pension enhancement and curtailment/settlement cost 3 15 2 51 Net benefit cost 150 186 274 390 Pension Benefits - Non-U.S. Service cost 67 82 139 160 Interest cost 203 205 442 427 Expected return on plan assets ( 199 ) ( 206 ) ( 430 ) ( 427 ) Amortization of actuarial loss/(gain) ( 12 ) 9 ( 22 ) 18 Amortization of prior service cost 16 15 31 28 Net pension enhancement and curtailment/settlement cost — — 28 — Net benefit cost 75 105 188 206 Other Postretirement Benefits Service cost 21 24 42 47 Interest cost 66 66 131 131 Expected return on plan assets ( 4 ) ( 4 ) ( 8 ) ( 8 ) Amortization of actuarial loss/(gain) ( 21 ) ( 27 ) ( 43 ) ( 51 ) Amortization of prior service cost ( 16 ) ( 16 ) ( 31 ) ( 31 ) Net pension enhancement and curtailment/settlement cost ( 1 ) — ( 1 ) — Net benefit cost 45 43 90 88 15 Table of Contents Note 5. Other Comprehensive Income Information ExxonMobil Share of Accumulated Other Comprehensive Income (millions of dollars) Cumulative Foreign Exchange Translation Adjustment Postretirement Benefits Reserves Adjustment Total Balance as of December 31, 2024 ( 16,166 ) 1,547 ( 14,619 ) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 2,200 ( 46 ) 2,154 Amounts reclassified from accumulated other comprehensive income — 29 29 Total change in accumulated other comprehensive income 2,200 ( 17 ) 2,183 Balance as of June 30, 2025 ( 13,966 ) 1,530 ( 12,436 ) Balance as of December 31, 2025 ( 13,398 ) 2,535 ( 10,863 ) Current period change excluding amounts reclassified from accumulated other comprehensive income ( 1) ( 544 ) ( 86 ) ( 630 ) Amounts reclassified from accumulated other comprehensive income ( 4 ) ( 52 ) ( 56 ) Total change in accumulated other comprehensive income ( 548 ) ( 138 ) ( 686 ) Balance as of June 30, 2026 ( 13,946 ) 2,397 ( 11,549 ) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $ 80 million and $( 293 ) million in 2026 and 2025 , respectively. Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) (millions of dollars) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) ( 1 ) — 4 — Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (Statement of Income line: Non-service pension and postretirement benefit expense) 33 ( 7 ) 68 ( 37 ) Income Tax (Expense)/Credit For Components of Other Comprehensive Income (millions of dollars) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Foreign exchange translation adjustment ( 22 ) 47 35 106 Postretirement benefits reserves adjustment (excluding amortization) 10 16 11 38 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs 8 — 16 ( 7 ) Total ( 4 ) 63 62 137 16 Table of Contents Note 6. Financial Instruments and Derivatives The estimated fair value of financial instruments and derivatives at June 30, 2026 and December 31, 2025 , and the related hierarchy level for the fair value measurement was as follows: June 30, 2026 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets & Liabilities Effect of Counterparty Netting Effect of Collateral Netting Difference in Carrying Value and Fair Value Net Carrying Value Assets Derivative assets (1) 15,760 4,163 — 19,923 ( 17,681 ) ( 644 ) — 1,598 Advances to/receivables from equity companies (2)(3) — 1,375 4,330 5,705 — — 141 5,846 Other long-term financial assets (4) 1,595 — 1,806 3,401 — — 127 3,528 Liabilities Derivative liabilities (5) 15,452 4,384 — 19,836 ( 17,681 ) ( 337 ) — 1,818 Long-term debt (6) 23,262 3,379 — 26,641 — — 3,224 29,865 Long-term obligations to equity companies (3) — — 549 549 — — — 549 Other long-term financial liabilities (7) — — 277 277 — — 16 293 December 31, 2025 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets & Liabilities Effect of Counterparty Netting Effect of Collateral Netting Difference in Carrying Value and Fair Value Net Carrying Value Assets Derivative assets (1) 5,197 2,259 — 7,456 ( 6,261 ) ( 341 ) — 854 Advances to/receivables from equity companies (2)(3) — 1,935 3,938 5,873 — — 256 6,129 Other long-term financial assets (4) 1,536 — 1,800 3,336 — — 216 3,552 Liabilities Derivative liabilities (5) 4,994 2,043 — 7,037 ( 6,261 ) ( 141 ) — 635 Long-term debt (6) 24,678 3,909 — 28,587 — — 3,248 31,835 Long-term obligations to equity companies (3) — — 542 542 — — — 542 Other long-term financial liabilities (7) — — 348 348 — — 16 364 (1) Included in the Balance Sheet lines: Notes and accounts receivable - net and Other assets, including intangibles - net. (2) Included in the Balance Sheet line: Investments, advances and long-term receivables. (3) Advances to/receivables from equity companies and long-term obligations to equity companies are mainly designated as hierarchy level 3 inputs. The fair value is calculated by discounting the remaining obligations by a rate consistent with the credit quality and industry of the equity company. (4) Included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles - net. (5) Included in the Balance Sheet lines: Accounts payable and accrued liabilities and Other long-term obligations. (6) Excluding finance lease obligations. (7) Included in the Balance Sheet line: Other long-term obligations. Includes contingent consideration related to a prior year acquisition where fair value is based on expected drilling activities and discount rates. 17 Table of Contents At June 30, 2026 and December 31, 2025 , respectively, the Corporation had $ 1.4 billion and $ 0.5 billion of collateral under master netting arrangements not offset against the derivatives on the Condensed Consolidated Balance Sheet, primarily related to initial margin requirements. The Corporation may use non-derivative financial instruments, such as its foreign currency-denominated debt, as hedges of its net investments in certain foreign subsidiaries. Under this method, the change in the carrying value of the financial instruments due to foreign exchange fluctuations is reported in accumulated other comprehensive income. As of June 30, 2026 , the Corporation has designated $ 3.4 billion of its Euro-denominated debt and related accrued interest as a net investment hedge of its European business. The net investment hedge is deemed to be perfectly effective. The Corporation had undrawn short-term committed lines of credit of $ 7.4 billion and undrawn long-term committed lines of credit of $ 0.3 billion as of the end of second quarter 2026 . Derivative Instruments The Corporation’s size, strong capital structure, geographic diversity, and the complementary nature of its business segments reduce the Corporation’s enterprise-wide risk from changes in commodity prices, currency rates, and interest rates. In addition, the Corporation uses commodity-based contracts, including derivatives, to manage commodity price risk and to generate returns from trading. Commodity contracts held for trading purposes are presented in the Condensed Consolidated Statement of Income on a net basis in the line “Sales and other operating revenue" and in the Consolidated Statement of Cash Flows in “Cash Flows from Operating Activities” and included before-tax realized and unrealized losses of $ 2.3 billion and gains of $ 534 million for the periods ended June 30, 2026 and 2025 , respectively. The Corporation’s commodity derivatives are not accounted for under hedge accounting. At times, the Corporation also enters into currency and interest rate derivatives, none of which are material to the Corporation’s financial position as of June 30, 2026 and December 31, 2025 , or results of operations for the periods ended June 30, 2026 and 2025 . The Corporation operates a program to hedge certain of its fixed-rate debt instruments against changes in fair value due to changes in the designated benchmark interest rate. This program utilizes fair value hedge accounting. The derivative (hedging) instruments are fixed-for-floating interest rate swaps, with settlement dates that correspond to the interest payments associated with the fixed-rate debt (hedged item). Changes in the fair values of the hedging instruments are perfectly offset by changes in the fair values of the hedged items; the effects of these changes in fair values are recorded in "Interest expense" in the Consolidated Statement of Income. This program was not material to the Consolidated Financial Statements as of the end of second quarter 2026 . Credit risk associated with the Corporation’s derivative position is mitigated by several factors, including the use of derivative clearing exchanges and the quality of and financial limits placed on derivative counterparties. The Corporation maintains a system of controls that includes the authorization, reporting, and monitoring of derivative activity. The net notional long/(short) position of derivative instruments at June 30, 2026 and December 31, 2025 , was as follows: (millions) June 30, 2026 December 31, 2025 Crude oil (barrels) 20 6 Petroleum products (barrels) ( 55 ) ( 27 ) Natural gas (MMBTUs) ( 528 ) ( 449 ) Note 7. Litigation and Other Contingencies Litigation A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending lawsuits. Management has regular litigation reviews, including updates from corporate and outside counsel, to assess the need for accounting recognition or disclosure of these contingencies. The Corporation accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is reasonably possible and which are significant, the Corporation discloses the nature of the contingency and, where feasible, an estimate of the possible loss. For purposes of our contingency disclosures, “significant” includes material matters, as well as other matters, which management believes should be disclosed. 18 Table of Contents State and local governments and other entities in various jurisdictions across the United States and its territories have filed a number of legal proceedings against several oil and gas companies, including ExxonMobil, requesting unprecedented legal and equitable relief for various alleged injuries purportedly connected to climate change. These lawsuits assert a variety of novel, untested claims under statutory and common law. Additional such lawsuits may be filed. We believe the legal and factual theories set forth in these proceedings are meritless and represent an inappropriate attempt to use the court system to usurp the proper role of policymakers in addressing the societal challenges of climate change. Local governments in Louisiana have filed unprecedented legal proceedings against a number of oil and gas companies, including ExxonMobil, requesting compensation for the restoration of coastal marsh erosion in the state. Effective July 31, 2026, the Corporation entered into a settlement with the state of Louisiana and the relevant coastal parishes settling all claims related to these matters. The settlement is not material to the Corporation, with estimated earnings impacts included in the second quarter financial reserve updates and third quarter earnings impacts expected to be immaterial. The settlement reflects a negotiated resolution of disputed claims, does not constitute an admission of liability or wrongdoing, and does not provide for any government sanctions. While the outcome of any litigation can be unpredictable, we believe the likelihood is remote that the ultimate outcomes of these lawsuits will have a material adverse effect on the Corporation’s operations, financial condition, or financial statements taken as a whole. We will continue to defend vigorously against these claims. Other Contingencies The Corporation and certain of its consolidated subsidiaries were contingently liable at June 30, 2026 , for guarantees relating to notes, loans and performance under contracts. Where guarantees for environmental remediation and other similar matters do not include a stated cap, the amounts reflect management’s estimate of the maximum potential exposure. Where it is not possible to make a reasonable estimation of the maximum potential amount of future payments, future performance is expected to be either immaterial or have only a remote chance of occurrence. June 30, 2026 (millions of dollars) Equity Company Obligations (1) Other Third-Party Obligations Total Guarantees Non-debt-related 660 5,619 6,279 Total 660 5,619 6,279 (1) ExxonMobil share. Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporation’s operations or financial condition. Note 8. Divestment Activities Through June 30, 2026 , the Corporation realized proceeds of approximately $ 0.6 billion and recognized net after-tax earnings of approximately $ 0.1 billion from its divestment activities. This included the sale of certain assets in the United States, as well as other smaller divestments. In 2025 , the Corporation realized proceeds of approximately $ 3.2 billion and recognized net after-tax earnings of approximately $ 1.1 billion from its divestment activities. This included the sale of the Singapore retail fuels business, Mobil Argentina S.A., Product Solutions affiliates in France, certain conventional and unconventional assets in the United States, and other smaller divestments. 19 Table of Contents