Our Objective for Today’s Q&A Session is... Clarify our understanding of the project

1. Our Understanding of the Study Objective is… ExxonMobil is "disappointed" with their 1999 and YTD earnings from their downstream operations. You are interested in a 90-120 day "gap analysis" to compare your performance with your competitors and identify some high priority areas for improvement. Agenda Our Objective for Today’s Q&A Session is... • Clarify our understanding of the project • Discuss highlights of our approach • Introduce our core team • Discuss related PwC citations and capabilities Our Outline for the Hour is... • Introductions & objective clarification Marty Stetzer 10 min • Putting your ROCE gap in perspective Cliff Mangano 10 min • The importance of competitive analysis Kevin Waguespack 10 min • Look forward to “sustain the gains” Brian Harry 10 min • PwC related capabilities Marty Stetzer 10 min • Summary & wrap-up ExxonMobil 5 min

2. Integrated Engagement Approach Our approach combines benchmarking, modeling and scenario planning. . . Week Ending Ongoing Stage Assessment ROCE Gap Evaluation Competitive Gap Evaluation “Sustaining the Gains” Management Review Prioritze Hot Spots Prioritze Hot Spots Validate Objective(s) with Leadership Catalogue XOM Data by ROCE & De-compose Determine Quality of External Data Define 3-5 Year Scenarios Define Action Plans Identify Competition Define Joint Team “Guiding Principles” Develop Additional Strategies to Improve Performance Feedback and Balanced Scorecard Set Next Stage Analysis Criteria Set New Priorities Review all Work to Date Set New Catalogue -Shareholder Value Build Matrix to Test Strategies against Scenarios Define Implementation and Change Projects Interpret XOM Analysis - Set scope Construct Models: Market Technical Financial Suggest Other Measures Create Detailed Workplan, Estimates & Resource Needs Calculate True Gaps Define skills transfer Re-Define Gaps Re-Define Gaps Project Team 1 Get New XOM L/R Plan Assumptions Relate XOM L/R Plan Assumptions Project Team 2 Project Team 3 Communication & Knowledge Transfer f.

3. Related Capabilities • The Global Benchmarks Alliance (GBA): - A confederation of 50+ multinational corporations, leverage and share knowledge on their financial and cost management processes and work with PwC to identify world class best practices which underpin superior financial performance. Industry participants include: Shell, BPAmoco, Total • Benchmarking: We initiated an industry consortium for multiple operational benchmarking studies in USA producing regions (Permian Basin, Offhsore Gulf of Mexico, Gulf Coast, Rocky Mountains and San Juan Basin). Studies focused on upstream operations, including production, cost, personnel, production replacement, drilling and health, safety & environment. • Integrated Performance Management: W recently completed a Performance Improvement, Measurement and Management project at Mobil USA - upstream U.S. We were involved with helping finalize a Balanced Scorecard, develop specific measures for their business units and implement a data warehouse to aid in their decision analysis and investment process. We are currently involved with doing a similar project at Texaco, but in more detail concerning key performance drivers and specific measures at a fairly low level within the organization (foreman level). A similar project is underway at Oxy Chemical.

4. Related Capabilities • The Global Benchmarks Alliance (GBA): - A confederation of multinational corporations, facilitated by PricewaterhouseCoopers. Alliance members leverage and share knowledge on their financial and cost management processes and work with PricewaterhouseCoopers to identify world class best practices which underpin superior financial performance. More than 750 business sites representing 50 different countries and over 75 corporations have participated in the GBA. The GBA focuses on the organization of the finance function and major financial processes. • Benchmarking: We have completed multiple operational benchmarking studies in regions within the United States (Permian Basin, Offhsore Gulf of Mexico, Gulf Coast, Rocky Mountain Region and San Juan Basin). The most recent study was a few years ago. We did develop standardised study worksflows and schedules. We have not completed any study (the Permian Basin was the last) since calendar year 1998 (1997 operating results). The studies focused on upstream operations, including production, cost, personnel, production replacement, drilling and health, safety & environment. • Integrated Performance Management: W recently completed a Performance Improvement, Measurement and Management project at Mobil USA - upstream U.S. We were involved with helping finalize a Balanced Scorecard, develop specific measures for their business units and implement a data warehouse to aid in their decision analysis and investment process. We are currently involved with doing a similar project at Texaco, but in more detail concerning key performance drivers and specific measures at a fairly low level within the organization (foreman level). A similar project is underway at Oxy Chemical.

5. Martin C. Stetzer Marty is a Managing Director in the global PricewaterhouseCoopers (PwC) energy practice, in Houston. He has over 10 years consulting experience with energy company management's in complex global engagements. He came to PwC with 18 years of industry P&L experience with Esso Eastern, Superior Oil and Mobil. His downstream operations assignments included refining, supply, logistics and marketing in a wide variety of USA and international (Far East) locations Marty is Practice Leader for the Supply Chain Management (SCM) services in the downstream. He knows the capabilities of the leading optimization software, developed thought leadership, presented at numerous industry SCM sessions and published two articles applying SCM techniques to improve performance of the downstream. Representative engagements include: • Managed a re-engineering project covering the USA trading operation of Equiva. The primary objective was to define a world class, integrated front-middle-back office deal flow process for an operation handling over 7 MMBCD of crude & products. • Led a re-engineering supply chain project for a large merchant-refiner with refineries, terminals and extensive pipelines. Project redefined all processes downstream of the refinery: position management, scheduling, supply, exchanges, billing & collections • Conducted a benchmarking project for a USA oil industry purchasing organization committing $3.0 billion/yr. of project equipment, contracts and spare parts. Re-engineered business to streamline decision making and improve contracting effort. Publications: "Maximize competitive Advantage with a Supply Chain Vision" Hydrocarbon Processing, Feb, 1999 (co-author) "Beyond the Gate: A New Pacesetter Context for Profitability in Refining" Hart's Fuel & Technology, July 1998 Marty has a BSME from the Kettering Institute in Michigan and an MBA from Carnegie Mellon in Pittsburgh.