EX-99.23livef8k4q25992.htmINVESTOR RELATIONS DATA SUMMARY Document
EXHIBIT 99.2
To assist investors in assessing 4Q25 results, the following disclosures have been made available in the 8-K filing:
4Q25 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 2)
Effective Income Tax Rate
4Q25
3Q25
2Q25
1Q25
Effective Income Tax Rate, %
21
%
32
%
34
%
34
%
Common Shares Outstanding, millions
4Q25
3Q25
2Q25
1Q25
At quarter end
4,179
4,217
4,263
4,310
Weighted-average - assuming dilution
4,238
4,285
4,331
4,372
Upstream Volume Driver Analysis, koebd
4Q25 vs 3Q25
2025 vs 2024
Prior Period
4,769
4,333
Entitlements - Net Interest
8
(33)
Entitlements - Price / Spend / Other
61
45
Government Mandates
—
(1)
Divestments
(13)
(133)
Growth / Other
163
525
Current Period
4,988
4,736
Upstream Realization Data
4Q25
3Q25
2Q25
1Q25
United States
ExxonMobil
Crude ($/b)
58.57
63.56
62.58
69.41
Natural Gas ($/kcf)
1.75
2.36
2.41
3.38
Marker Benchmarks
WTI ($/b)
59.23
65.03
63.87
71.46
Henry Hub ($/mbtu)
3.55
3.07
3.44
3.65
Non-U.S.
ExxonMobil
Crude ($/b)
57.46
62.58
62.01
68.12
Natural Gas ($/kcf)
9.60
9.62
10.23
10.17
Marker Benchmarks
Brent ($/b)
63.69
69.07
67.82
75.66
TTF ($/mbtu)
10.77
11.75
12.40
14.64
The above numbers reflect ExxonMobil’s current estimate of volumes and realizations given data available as of the end of the fourth quarter of 2025. Volumes and realizations may be adjusted when full statements on joint venture operations are received from outside operators. ExxonMobil management assumes no duty to update these estimates.
Product Solutions Marker Benchmark Data
4Q25
3Q25
2Q25
1Q25
Energy Products
Indicative Refining Margin ($/b)
18.3
17.5
13.6
11.5
Chemical Products
North American Polyethylene ($/T)
759
812
821
879
Asia Pacific Polyethylene ($/T)
822
840
837
856
Asia Pacific LVN ($/T)
564
588
576
658
USGC Ethane ($/T)
196
171
178
202
The above markers reflect the average prices from the quarter. Indicative Refining Margin, NA PE, AP PE, AP LVN, and USGC Ethane from Platts, part of S&P Global Commodity Insights. NA PE, AP PE, AP LVN, and USGC Ethane historical prices were updated to reflect simple averages. Marker associated sensitivities developed for forward-looking analysis and in relation to full-year results. For any given period, the accuracy of the earnings sensitivity will be dependent on the price movements of individual types of crude oil, natural gas, or products, results of trading activities, project start-up timing, maintenance timing, taxes and other government take impacts, price adjustment lags in long-term gas contracts, and crude and gas production volumes.
Accordingly, changes in benchmark prices only provide broad indicators of changes in the earnings experienced in any particular period. Refer to "Modeling Toolkit" tab on the Investor Relations page of our website at www.exxonmobil.com for more information.
EXHIBIT 99.2
4Q25 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 2)
Natural gas sales, mcfd ¹
2025
2024
2023
United States
6,466
5,602
4,656
Canada/Other Americas
20
105
88
Europe
3,369
2,847
2,521
Africa
113
150
128
Asia/Middle East
4,113
3,735
3,497
Australia/ Oceania
1,021
1,043
1,119
Worldwide natural gas sales
15,102
13,483
12,009
1 Natural gas sales include 100 percent of the sales of ExxonMobil and majority-owned affiliates and ExxonMobil’s ownership of sales by companies owned 50 percent or less. Numbers include sales of gas purchased from third parties.
Refining capacity, and utilization ²
2025
2024
2023
Average refining capacity, kbd ³
United States
1,967
1,964
1,940
Canada
434
434
433
Europe
1,076
1,196
1,315
Asia Pacific
659
659
770
Other
200
200
200
Worldwide average refining capacity
4,336
4,453
4,658
Utilization of refining capacity, %
United States
98
95
95
Canada
93
92
94
Europe
93
87
89
Asia Pacific
70
65
65
Other
94
83
75
Worldwide utilization of refining capacity
92
88
87
2 Excludes refining capacity for a minor interest held through equity securities in the Laffan Refinery in Qatar, for which results are reported in the Upstream segment.
3 Refining capacity is the stream-day capability to process inputs to atmospheric distillation units under normal operating conditions, less the impact of shutdowns for regular repair and maintenance activities, averaged over an extended period of time. These annual averages include partial-year impacts for capacity additions or deletions during the year. Any idle capacity that cannot be made operable in a month or less has been excluded. Capacity volumes include 100 percent of the capacity of refinery facilities managed by ExxonMobil or majority-owned subsidiaries. At facilities of companies owned 50 percent or less, the greater of either that portion of capacity normally available to ExxonMobil or ExxonMobil’s equity interest is included.
Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up precisely to the totals indicated.
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | 0 | 0 |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 0 | — | 0 |
| Recession recession, downturn, contraction, slowdown | 0 | 0 | 0 |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 0 | 0 | 0 |
| Buybacks share repurchase, buyback program | 0 | — | 0 |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Not placed in the text
These quotes are stored with a score, but no passage here matches them closely enough to highlight. Rather than point at the wrong passage, they are listed as stored.
Theme · upstream volume growth acceleration
“Growth / Other 163 koebd quarter-over-quarter, 525 koebd year-over-year”
Theme · refining utilization improvement
“Worldwide utilization of refining capacity 92% in 2025, up from 88% in 2024”
Theme · commodity price pressure
“U.S. crude $58.57/b in 4Q25 down from $63.56/b in 3Q25”
Theme · natural gas sales expansion
“Worldwide natural gas sales 15,102 mcfd in 2025 versus 13,483 mcfd in 2024”
Theme · divestment impact on volumes
“Divestments reduced volumes by 13 koebd quarter-over-quarter and 133 koebd year-over-year”
Theme · share count reduction
“Common shares outstanding declined to 4,179 million at quarter end from 4,310 million in 1Q25”
Source: SEC EDGAR · public domain · Highlights by Palanor