TreasurerTreasurer’’s Departments Department2005/06 Recruiting2005/06 Recruiting

2

Growth –– World oil and gas demand growingWorld oil and gas demand growing–– Chemical business expanding Chemical business expanding –– Independent power growingIndependent power growing

Dynamic Environment –– Rapid advances in technologyRapid advances in technology–– Competitive landscape changing Competitive landscape changing

dramatically dramatically

Abundant Opportunities–– Vast new areas being opened up for developmentVast new areas being opened up for development–– Emerging markets hold enormous potential customer base Emerging markets hold enormous potential customer base –– Critical role for finance to meet the challenges of the industryCritical role for finance to meet the challenges of the industry

Global Energy IndustryGlobal Energy Industry

3

Financial Objectives –– Shareholder valueShareholder value–– Financial strength/flexibility Financial strength/flexibility –– High return on capital employedHigh return on capital employed

Technology –– Alternative fuelsAlternative fuels–– Liquefied Natural Gas (LNG)Liquefied Natural Gas (LNG)–– Gas to Liquids (GTL) Gas to Liquids (GTL) –– Deepwater drillingDeepwater drilling–– Real time informationReal time information

Industry ThemesIndustry Themes

Constancy of Purpose –– Capital intensive businessCapital intensive business–– Long term horizon Long term horizon –– Geopolitical dynamicsGeopolitical dynamics

Consolidation –– Economies of scaleEconomies of scale–– Geographical diversificationGeographical diversification–– Large scale initiativesLarge scale initiatives

4

2004 Financial Highlights2004 Financial Highlights

Financial

-- 20 year shareholder return: 16%/yr.20 year shareholder return: 16%/yr.

-- Assets: $195 billion Assets: $195 billion

-- Revenues: $298 billion (Revenues: $298 billion (‘‘04)04)

# 2 Fortune Global 500# 2 Fortune Global 500

-- Net Income:Net Income: $25.3 billion ($25.3 billion (‘‘04)04)

$15.5 billion (1H$15.5 billion (1H’’05)05)

#1 Fortune Global 500#1 Fortune Global 500

-- One of seven AAAOne of seven AAA--rated US companiesrated US companies

-- Largest nonLargest non--government owned petroleum companygovernment owned petroleum company

5

Employing Cutting Edge TechnologyEmploying Cutting Edge Technology

6

Keys To Our SuccessKeys To Our Success

Strategies, Operating Philosophies and Competitive Strengths-- StrategiesStrategies

−− Disciplined approach to capital investment Disciplined approach to capital investment −− Profitable growth in selected areas and businessesProfitable growth in selected areas and businesses−− Most efficient competitorMost efficient competitor−− LeadingLeading--edge technologiesedge technologies−− Operational excellenceOperational excellence

−− Continuous improvementContinuous improvement

-- PhilosophiesPhilosophies−− Methods are as important as resultsMethods are as important as results

-- Competitive StrengthsCompetitive Strengths−− Exceptionally high quality peopleExceptionally high quality people−− Unsurpassed functional and geographic diversityUnsurpassed functional and geographic diversity−− Strong global brands, leading positions in key business segmentStrong global brands, leading positions in key business segmentss−− WellWell--positioned for the futurepositioned for the future

7

Supported by:Supported by:

Ten staff and service functionsTen staff and service functions----including Treasurerincluding Treasurer’’ss

ExxonMobil at a GlanceExxonMobil at a Glance

Upstream(Houston, TX.)

Upstream(Houston, TX.)

Downstream(Fairfax, VA.)Downstream(Fairfax, VA.)

Chemicals(Houston, TX.)

Chemicals(Houston, TX.)

Exxon Mobil Corporation(Worldwide HQ in Irving, Texas)

Refining & SupplyRefining & SupplyFuels MarketingFuels Marketing

Lubricants & PetroleumLubricants & PetroleumSpecialtiesSpecialties

Research and EngineeringResearch and Engineering

ExplorationExploration

DevelopmentDevelopment

ProductionProduction

Gas MarketingGas Marketing

Upstream ResearchUpstream Research

-- Operate in over 200 countriesOperate in over 200 countries

-- Employs 85,000 peopleEmploys 85,000 people

-- Produce 2.6M barrels of oil, 9.9BCF of gas dailyProduce 2.6M barrels of oil, 9.9BCF of gas daily

-- Petroleum product sales: 8.2M barrels dailyPetroleum product sales: 8.2M barrels daily

-- #1 among global petrochemical companies#1 among global petrochemical companies

8

UpstreamUpstream (~40 countries)(~40 countries)−− Resource base of 73 billion oil equivalent barrelsResource base of 73 billion oil equivalent barrels−− Proved reserves: 22 billion oil equivalent barrelsProved reserves: 22 billion oil equivalent barrels−− WorldWorld’’s largest nons largest non--government gas producergovernment gas producer−− WorldWorld’’s largest nons largest non--government gas reserves holdergovernment gas reserves holder−− Industry leader in upstream investments and technologyIndustry leader in upstream investments and technology−− Largest power producer in Hong KongLargest power producer in Hong Kong

DownstreamDownstream (~200 countries)(~200 countries)−− Premier refiner and marketer of petroleum productsPremier refiner and marketer of petroleum products−− 45 refineries in 25 countries45 refineries in 25 countries−− Strong fuels/lubes brand recognitionStrong fuels/lubes brand recognition

ChemicalsChemicals (Sales in 150+ countries)(Sales in 150+ countries)−− 90% of asset base in businesses with #1 or #2 position90% of asset base in businesses with #1 or #2 position−− Strong synergies with DownstreamStrong synergies with Downstream

Scope of Operations: 200 countriesScope of Operations: 200 countries

SalesSales Net IncomeNet Income

~10% ~65%

~80% ~20%

~10% ~15%

9

International ExposureInternational Exposure-- More than two thirds of ExxonMobilMore than two thirds of ExxonMobil’’s assets are outside the U.S.s assets are outside the U.S.

-- Wide range of complex financial and managerial challengesWide range of complex financial and managerial challenges

Texas Bermuda

Chile

Argentina

Brazil

Toronto

Norway

France Italy

SingaporeAustralia

Malaysia

Thailand

Hong Kong

Japan

Netherlands

U.K.

Germany

Indonesia

Belgium

Virginia

Nigeria

Qatar

Saudi Arabia

Calgary

AzerbaijanSakhalin

Kazakhstan

Venezuela

Angola

10

The Business EnvironmentThe Business Environment-- CapitalCapital--intensiveintensive

–– $113 billion in capital employed$113 billion in capital employed-- LongLong--term, high risk opportunitiesterm, high risk opportunities-- Significant risk to manageSignificant risk to manage

-- forexforex -- tax/fiscal/legaltax/fiscal/legal-- inflationinflation -- environmentalenvironmental-- physical physical -- interest rateinterest rate-- costcost -- politicalpolitical-- priceprice -- technologytechnology

-- Size and diversity tend to steer us towards bearing riskSize and diversity tend to steer us towards bearing risk–– typically selftypically self--insure insure –– maintain very large deductibles for 3rd party coveragemaintain very large deductibles for 3rd party coverage–– rarely use derivatives to transfer risk; never for speculationrarely use derivatives to transfer risk; never for speculation

11

Corporate TreasurerCorporate Treasurer’’s Organizations Organization

XXXXXXX

Capital Markets

&Planning

Vice President and Treasurer

Assistant Treasurer

Global Shared & Corporate Services Business/Credit Services

Risk Mgmt./

Insurance

BenefitsFinance

& Invstmt.

Affiliate Finance Upstream

TreasurerDwnstrmTreasurer

ChemicalsTreasurer

Houston FairfaxIrving

Corporate

Affiliate Treasurer’s Organization

GlobalCash Mgmt.

12

Our Challenge Our Challenge -- Financing The BusinessFinancing The Business

-- Enhance shareholder Enhance shareholder returns through prudent use returns through prudent use of leverage of leverage

-- Manage capital structure to Manage capital structure to avoid constraints on the avoid constraints on the businessbusiness

-- Minimize financing costs Minimize financing costs while balancing riskwhile balancing risk

-- Manage cash flows centrally Manage cash flows centrally to minimize risk and to minimize risk and maximize returnmaximize return

-- Undertake attractive Undertake attractive financing critical to project financing critical to project successsuccess

XXXXXXX

LONG HISTORY OF FINANCIAL INNOVATIONLONG HISTORY OF FINANCIAL INNOVATION

13

ExxonMobil Treasury CareersExxonMobil Treasury Careers

Maximizing Your Potential

First few yearsFirst few years • Many start in HQ Many start in HQ -- Dallas, TexasDallas, Texas

• Assignments in:Assignments in:

—— Capital Markets & Planning Capital Markets & Planning —— Risk Mgmt & InsuranceRisk Mgmt & Insurance

—— Affiliate FinanceAffiliate Finance —— Global Cash MgmtGlobal Cash Mgmt

—— Benefits Finance & InvestmentBenefits Finance & Investment

Next few yearsNext few years •• Assignments in Business Services / Regional OfficesAssignments in Business Services / Regional Offices

—— HoustonHouston —— FairfaxFairfax

LaterLater •• Domestic & international assignments of Domestic & international assignments of increasing responsibilityincreasing responsibility

—— AffiliatesAffiliates —— HQ HQ -- DallasDallas

—— Segment HQsSegment HQs

14

ExxonMobil Treasury CareersExxonMobil Treasury Careers

-- Focus on executive developmentFocus on executive development

-- Promotion from within; development through job rotationPromotion from within; development through job rotation

-- Development and high expectations to achieve personal successDevelopment and high expectations to achieve personal success

-- Collegial, supportive peer environmentCollegial, supportive peer environment

-- Employees are partners in career decisions Employees are partners in career decisions

-- Balance quality of life with professional career Balance quality of life with professional career

Designed for long-term growth

Literally, a world of opportunity exists with a multitude of Literally, a world of opportunity exists with a multitude of international opportunitiesinternational opportunities

15

Projects in Corporate HQ in IrvingProjects in Corporate HQ in Irving-- Capital Markets & PlanningCapital Markets & Planning

—— Capital structureCapital structure

—— Competitor analysisCompetitor analysis

—— Debt portfolio managementDebt portfolio management

Scope: Scope: $16G $16G CapexCapex

$9G Consolidated Debt$9G Consolidated Debt

-- Affiliate FinanceAffiliate Finance—— Affiliate borrowingAffiliate borrowing

—— Worldwide corporate Worldwide corporate structurestructure

Scope: Scope: 200 Countries200 Countries

-- Risk Management & InsuranceRisk Management & Insurance—— Manage corporate risks Manage corporate risks

—— Affiliate insurance & claims Affiliate insurance & claims

Scope: Scope: WorldwideWorldwide

-- Benefits Finance & InvestmentBenefits Finance & Investment—— Funding policies Funding policies

—— Investment strategiesInvestment strategies

—— InIn--house asset managementhouse asset management

Scope: Scope: $35G Benefit Obligations$35G Benefit Obligations

$18G Plan Assets$18G Plan Assets

-- Global Cash ManagementGlobal Cash Management—— Banking, cashBanking, cash

—— Commercial paperCommercial paper

—— Foreign exchangeForeign exchange

Scope:Scope: $300G Revenues $300G Revenues

16

$600 Million Chad Cameroon Project Finance$600 Million Chad Cameroon Project Finance

-- Project to develop and transport Project to develop and transport landlocked oillandlocked oil

–– 1 billion barrels recoverable oil 1 billion barrels recoverable oil –– Requires 650 mile pipeline Requires 650 mile pipeline

through Cameroon through Cameroon –– Total project cost: $3.7 billionTotal project cost: $3.7 billion

-- Objective: Mitigate project riskObjective: Mitigate project risk

-- Financing is highly complexFinancing is highly complex

–– GovGov’’tt multilateral multilateral lending agencies lending agencies

–– Legal structureLegal structure–– Timing/ability to Timing/ability to

repatriate funds repatriate funds

–– Domestic and intDomestic and int’’l taxation l taxation –– Partner financing issuesPartner financing issues–– Contractor selection Contractor selection –– Degree of leverageDegree of leverage–– Local political considerationsLocal political considerations

17

ExxonMobil CultureExxonMobil Culture

-- Analytical, intellectual, probing Analytical, intellectual, probing

-- LongLong--term approachterm approach

-- Unwavering ethics Unwavering ethics

-- Collegial Collegial -- partners with partners with colleagues, operations and colleagues, operations and senior managementsenior management

-- Consensus buildingConsensus building

-- Premium on candorPremium on candor

-- IndependentIndependent--mindedminded

-- Many investment banking Many investment banking functions managed infunctions managed in--househouse

-- Dedication to shareholder valueDedication to shareholder value

18

Why ExxonMobil?Why ExxonMobil?

-- Unrivaled international opportunities for people with strong Unrivaled international opportunities for people with strong financial backgroundsfinancial backgrounds

-- Dynamic, capitalDynamic, capital--intensive, technologyintensive, technology--driven industrydriven industry

-- Challenging career opportunities with global scopeChallenging career opportunities with global scope

-- Commitment to longCommitment to long--term career growthterm career growth

-- Opportunities aligned with abilities, effortsOpportunities aligned with abilities, efforts

-- Competitive, contribution based compensationCompetitive, contribution based compensation

Unparalleled Opportunity

19

ExxonMobil Financial Management CareersExxonMobil Financial Management Careers

What we are looking for ...

-- WellWell--developed communications and interpersonal skillsdeveloped communications and interpersonal skills

-- Excellent analytical skillsExcellent analytical skills

-- Geographic mobilityGeographic mobility

-- Creativity and innovationCreativity and innovation

-- Demonstrated leadership capabilityDemonstrated leadership capability

-- Flexibility to handle multiple tasksFlexibility to handle multiple tasks