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Exxon Mobil's (XOM) CEO Rex Tillerson Hosts Annual Shareholder Meeting (Transcrip... Page 2 of 25
week, 365 days a year. And many of them are working in very challenging locations and under challenging circumstances
around the world. All with one objective in mind and that's to deliver the energy that the world's economies and people need to
maintain their lifestyles in all corners of the world.
I will have the opportunity to report to you on our financial and operating results, but I am really reporting to you on their
results. And that is the highest honor I have is to speak on their behalf to you today. David Rosenthal is seated to my right. He
is the Vice President of Investor Relations and the Corporate Secretary. He will assist me in running the meeting today. I will
introduce the members of the board to you later in the meeting.
As mentioned on Page 2 of the proxy statement, it is the policy of the corporation to provide shareholders an opportunity for
privacy in voting. For shareholders who returned their proxy cards without written comments, the voted proxies have not been
seen by nor reported to the corporation, except in aggregate numbers. Anyone turning in a proxy card at this meeting who
wishes to keep his or her votes secret may obtain an envelope from the ushers. Proxy cards will be collected later in the
meeting.
A list of shareholders entitled to vote at this meeting or at any adjournment thereof is available for inspection. If anyone wishes
to examine this list, an usher will be pleased to direct you to the proper location. Charlie (indiscernible) and Lori Chamoun of
Computershare Trust Company have been appointed inspectors of election for this meeting. They have taken an oath of office
that has been delivered to the Secretary for filing with the Minutes of the Meeting. Notice of this meeting has been properly
given and the inspectors of election have determined that a quorum is present. There are more than 97,000 shareholders
represented at this meeting, holding at least 3.5 billion shares or approximately 82.9% of the issued and outstanding shares of
stock of the corporation which are entitled to vote. I direct that the inspectors' written determination as to the number of shares
entitled to vote at the meeting be filed with the minutes. I declare a quorum present and the meeting ready for business.
I would now like to explain our plan for conducting the meeting today. First, Secretary Rosenthal will outline the rules of
conduct and how to gain recognition. Then I will make some brief comments about our business results and the future we see
for your company. After that, the 8 items of business will be presented beginning with the election of directors, the ratification
of independent auditors and the advisory vote to approve executive compensation, all of which are required by law. Then we
will continue with the 5 shareholder proposals shown in the proxy statement, which was sent to all shareholders in advance.
As described in the annual meeting program, discussion on the 8 items of business will be deferred until all items have been
presented. Time permitting, we will respond to some of the questions submitted ahead of time via proxy cards or the internet.
Upon completion of the discussion on the items of business and voting, the polls will be closed. The formal business of this
year's annual meeting will be concluded and the inspectors of election will prepare their preliminary voting report. While this is
occurring, there should be some time for additional comments and questions about Exxon Mobil's business. When the
inspectors are ready I will ask them to give us their voting report and we will then conclude the meeting.
At this time let me turn the podium to David Rosenthal to discuss the rules of conduct.
David Rosenthal - Vice President, investor Relations and Secretary
Good morning. I would now like to cover several aspects of today's meeting. Before we continue I would like to take this
opportunity to familiarize everyone with the safety features of this auditorium. In case of an emergency, we will be notified
through the public address system. The emergency exits for the ground level as shown on the screen above me, are situated
at the rear of the auditorium, where you entered, and down and front on either side. If we need to evacuate, just proceed to the
nearest exit and Meyerson personnel will guide you to the best way out. In addition, for safety reasons, please do not stand in
the aisles or at the back of the hall and do not block the exits.
To ensure that the meeting is conducted in the interest of all shareholders, there are certain rules of conduct governing this
meeting. These rules are posted on signs at the entrances to the meeting, are located in the program and are shown on the
screen above me. Let me now cover several of the rules.
The distribution of pamphlets and other literature, banners, signs and other displays is strictly prohibited in this hall. Anyone
who intentionally obstructs or interferes with this lawful meeting by physical action or verbal utterance is in violation of Texas
law. Any persons engaging in such conduct will be asked to cease. And if they refuse, they will be escorted from the meeting.
The laws of New Jersey, where Exxon Mobil is incorporated, provide that no business can be brought up for a vote unless
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