Performance Metrics

Industry-leading personnel safety performance; record three consecutive years with zero higher-consequence process safety events; remain on track to achieve 2030 GHG emission intensity reduction plans. IOC2-leading earnings, ROCE, and total shareholder returns (TSR); earnings driven by strong portfolio investment returns, accretive volumes, and structural efficiencies; maintaining debt-to-capital ratio consistent with a strong AA rating. More than 15% reduction in corporate-wide GHG emissions intensity; continued progress to achieve net-zero in heritage Permian unconventional operations by 2030. Continuing more than $20 billion in lower-emission investments (2022-2027), positioning for strong double-digit returns and growing production of high-value products, including lower-emission fuels, ProxximaTM products, and carbon materials. Integrated investment portfolio that remains resilient across price cycles and a transitioning energy system; accomplished transformational acquisition of Pioneer, increasing high-quality Permian acreage and resulting in immediate volumes uplift; establishing clear leadership position in Low Carbon Solutions, strengthened by acquisition of Denbury; significant progress on foundational investments in the U.S. Gulf Coast, CCS (first world-scale, end-to-end CCS system), lithium, and low-carbon hydrogen (world's first low-carbon hydrogen project).