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ADVANCEMENTS IN CCS AND HYDROGEN

Erik OswaldVice President of Strategy and Advocacy ExxonMobil Low Carbon Solutions

IOGCC Annual MeetingNovember 9, 2021

NOIA

ExxonMobil Low Carbon Solutions OBJECTIVES

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• Build new low-carbon business, establishing industry leadership

• Enable carbon footprint reduction of existing business

WHY CCS?

• Renewables are important, but can not decarbonize heavy industry and manufacturing

• IEA, IPCC say net-zero is impossible without CCS

• Safe, proven technology and immediately deployable

Georgia Tech

4

Stanford Global Climate& EnergyProject

Algae biofuels

CCSprocess

Fuel cells

CCSVenture created

Direct aircapture

U.S.DOE/ National labs

Low-emission Fuels Venture

created

Energy Centers

LowCarbon Solutions created

Cellulosic biodiesel

Sleipner offshorefield

LaBarge plant

LaBarge expansion

LaBarge expansion

GorgonControlledFreeze

Zone™commercial

demonstration

2 0 0 0 2 0 1 0 2 0 2 0

QatarQatar

2014 2015 2016 2018

Carbon capture and storage (CCS)

Low-emissions fuels

Low-carbon technologies

Strategic alliance

C O M M E R C I A L I Z A T I O N

R & D C O L L A B O R A T I O N S

StanfordStrategic Energy Alliance

2018

1 9 8 6

OUR EXPERIENCE

LaBarge

Strathcona

Houston

Gorgon

Qatar

Singapore

Rotterdam Antwerp

Gravenchon

Acorn – St Fergus

Fife

OUR PROJECTSANNOUNCED PROJE C TS

-MULTIPLE OTHER OPPORTUNITIES ARE UNDER EVALUATION

SCOPE

• CAPTURE CO 2 FROM ~50 LARGE EMITTERS

• ~350 MILES OF CO 2 PIPELINE, USING EXISTING CORRIDORS

• MULTIPLE OFFSHORE WELLS

TIMELINE

• 50MTA BY 2030

• 100MTA BY 2040

• HELP MEET HOUSTON’S GOAL TO BE CARBON NEUTRAL BY 2050

HOUSTON CARBON CAPTURE AND STORAGE HUB CONCEPT

HOUSTON

>10MTA

APPROACH

• CRO S S-INDUSTRY CO L LABO RATIO N

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COMMUNITY BENEFITS OF THE HUB

• Improved air quality • Jobs & economic impact

• Position Houston as leader in lower-carbon energy future

FEEDHYDROGEN

MANUFACTURING

Carbon Storage

DEMAND SECTORS

CARBON

CAPTURE

H2

POTENTIAL FOR HYDROGEN

H2 + CO2

Power

Transportation

Residential /

Commercial

Industrial

CH4

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INDUSTRY COLLABORATION

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WHAT’S NEEDED

ENHANCE NON-EOR CCS PRODUCTION TAX CREDIT (45Q)• Initially increase value to $100 per metric ton from current $50• Extend eligibility period to 30 years from current 12 years• Eliminate deadline for starting construction

PROVIDE FINANCIAL SUPPORT FOR CCS INFRASTRUCTURE• Provide a $10 billion grant to help develop infrastructure in Houston by extending current DOE

programs beyond RD&D• Expand DOE Title XVII program to include the deployment of existing CCS technologies at scale• Amend TIFIA to add CCS projects, or create a program dedicated to CCS

ENSURE GOVERNMENT APPROVAL FOR CO2 STORAGE• Specifically allow offshore storage of CO 2 from sources other than coal• Authorize the BOEM to issue leases, rights of way and pore space

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ADVANCEMENTS IN CCS AND HYDROGEN

Erik OswaldVice President of Strategy and Advocacy ExxonMobil Low Carbon Solutions

IOGCC Annual MeetingNovember 9, 2021

NOIA