Rob Gardner September, 2016

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1 The Outlook for Energy: A View to 24 Rob Gardner September, 216 The Outlook for Energy includes Exxon Mobil Corporation s internal estimates and forecasts of energy demand, supply, and trends through 24 based upon internal data and analyses as well as publicly available information from external sources including the International Energy Agency. Work on the report was conducted throughout 215. This presentation includes forward looking statements. Actual future conditions and results (including energy demand, energy supply, the relative mix of energy across sources, economic sectors and geographic regions, imports and exports of energy) could differ materially due to changes in economic conditions, technology, the development of new supply sources, political events, demographic changes, and other factors discussed herein and under the heading Factors Affecting Future Results in the Investors section of our website at This material is not to be used or reproduced without the permission of Exxon Mobil Corporation. All rights reserved. 1

2 Key Energy Outlook Themes Energy is fundamental to standards of living. Developing nations lead gains in GDP and living standards. Economics and policies impact the fuel mix. Oil remains the world s primary fuel through 24. Naturalgas grows more than any other energy source. Technology has the highest potential and greatest uncertainty. 2 ExxonMobil 216 Outlook for Energy

3 Global GDP Shifts Toward Developing Nations OECD* Rest of World Key Growth India China 2.% per year 3.4% 3.5% 5.5% 5.% $72 Trillion (21$) ~$15 Trillion (21$) *Mexico and Turkey included in Key Growth countries 3 ExxonMobil 216 Outlook for Energy

4 Middle Class and Urbanization Increase Global Middle Class Billion People 5 Urbanization Percent 1 4 Rest of World Key Growth 75 OECD* Turkey China Indonesia 3 2 China 5 India 1 India 25 OECD* '14 ' Source: The Brookings Institution *Mexico and Turkey included in Key Growth countries Source: United Nations 4 ExxonMobil 216 Outlook for Energy

5 Demand Growth From Developing Nations Energy Demand Quadrillion BTUs 8 6 Rest of World Key Growth 4 India China 2 OECD* *Mexico and Turkey included in Key Growth countries 5 ExxonMobil 216 Outlook for Energy

6 United States Energy Trends Indexed to GDP Population 1. Demand Carbon Emissions ExxonMobil 216 Outlook for Energy

7 Economics andpolicies impact the fuel mix. 7

8 CO 2 Policy Assumptions Vary by Region 24 CO 2 Proxy Cost < 1 $/ton ~ 2 $/ton ~ 35 $/ton ~ 8 $/ton 8 ExxonMobil 216 Outlook for Energy

9 CO Energy 2 Emissions Mix Shifts Plateau to Lower-Carbon Fuels Global Energy Mix Percent Energy-Related CO 2 Emissions by Region Billion Tonnes 1% Biomass 4 Renewables 75% Nuclear 3 Rest of World Gas Key Growth 5% 2 India Coal China 25% 1 Oil OECD* % *Mexico and Turkey included in Key Growth countries 9 ExxonMobil 216 Outlook for Energy

10 Oil remains the world s primary fuel through 24. 1

11 Transportation and Chemicals Drive Growth Liquids Demand by Sector MBDOE Chemical Transportation Industrial Res/Comm Electricity Generation 11 ExxonMobil 216 Outlook for Energy

12 Transportation Fuel Demand World United States MBDOE MBDOE Natural Gas Other Jet Fuel 45 Fuel Oil Biodiesel 3 3 Diesel Ethanol Gasoline ExxonMobil 216 Outlook for Energy

13 Light Duty Vehicle Efficiency Fleet by Type Million Average Vehicle Efficiency On-Road Miles per Gallon 18 Elec/Plug-in/Fuel Cell Hybrid Natural Gas & LPG Diesel Gasoline 45 Average Fleet Europe U.S ExxonMobil 216 Outlook for Energy

14 Liquids Production By Region MBDOE 12 By Type MBDOE 4 8 Other NonOPEC Russia North America 2 4 OPEC OPEC Non-OPEC NGLs Tight Oil Deepwater Oil Sands Other Conventional Crude and Condensate 14 ExxonMobil 216 Outlook for Energy

15 Natural gas grows more than any other energy source. 15

16 Gas Demand Grows in All Sectors Gas Demand by Sector BCFD Electricity Generation Industrial Res/Comm Transportation 16 ExxonMobil 216 Outlook for Energy

17 Fuel for Electricity Transitions Electricity Delivered by Type Thousand TWh 4 3 Other Renewables Wind & Solar 2 Nuclear Gas 1 OECD ' '1 '2 '3 '4 Coal Oil 17 ExxonMobil 216 Outlook for Energy

18 Natural Gas Supply By Production Type BCFD 6 By Delivery Type BCFD 6 LNG 4 Unconventional 4 Pipeline 2 2 Conventional Net Local Production ExxonMobil 216 Outlook for Energy

19 Technology has the highest potential and greatest uncertainty. 19

20 Global Demand 24 By Fuel Quadrillion BTUs 25.7% Average Growth / Yr %.9% % 1 5.3% 2.9% 4.8% 1.3% Oil Gas Coal Biomass Nuclear Solar / Wind / Biofuels Hydro / Geo 2 ExxonMobil 216 Outlook for Energy

21 Key Energy Outlook Themes Energy is fundamental to standards of living. Developing nations lead gains in GDP and living standards. Economics and policies impact the fuel mix. Oil remains the world s primary fuel through 24. Naturalgas grows more than any other energy source. Technology has the highest potential and greatest uncertainty. 21 ExxonMobil 216 Outlook for Energy

22 For more information, visit exxonmobil.com/energyoutlook or download the ExxonMobil app 22