ExxonMobil Makes Application to Cease to be a Reporting Issuer in Canada

Rhea-AI Summary

ExxonMobil has applied to cease to be a reporting issuer in Canada, pending approval from the Alberta Securities Commission and the Ontario Securities Commission. Despite this change, the company will continue to file financial statements and disclosure materials in the US and on the NYSE.

SPRING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE: XOM) announced today that it has applied to the Alberta Securities Commission (ASC), as principal regulator, and the Ontario Securities Commission (OSC) for a joint order (the Order Sought) to cease to be a reporting issuer in each of the provinces of Canada. ExxonMobil is not a reporting issuer in any other Canadian jurisdiction.

If the Order Sought is granted by the ASC and the OSC, ExxonMobil will cease to be a reporting issuer in any jurisdiction in Canada.

Notwithstanding a decision that ExxonMobil is not a reporting issuer in Canada, ExxonMobil will continue to file all financial statements and other continuous disclosure materials required to be filed by it in accordance with the applicable securities laws of the United States and the rules of the New York Stock Exchange (NYSE). All such continuous disclosure documents of ExxonMobil are publicly available to all security holders of ExxonMobil under ExxonMobil’s profile at www.sec.gov and ExxonMobil’s security holders resident in Canada will continue to receive copies of the continuous disclosure documents that are required to be delivered to security holders in the United States, in the same manner and at the same time as is required under the applicable securities laws of the United States and the rules of the NYSE.

Forward-Looking Statements

This release contains forward-looking information that involves risks and uncertainties. Actual future results, including whether the Order Sought will be granted, could vary from those expressed or implied by the forward-looking information in this release, and depend on regulatory developments, including actions taken by the ASC, the OSC and/or other regulatory bodies. This forward-looking information is made as of the date of this release and, other than as required by applicable securities laws, ExxonMobil does not assume any obligation to update or revise it to reflect new events or circumstances. The forward-looking information contained in this release is expressly qualified by this cautionary statement.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.

ExxonMobil’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions – provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.

With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com and ExxonMobil’s Advancing Climate Solutions.

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ExxonMobil Media Relations

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Source: Exxon Mobil Corporation

FAQ

Why has ExxonMobil applied to cease being a reporting issuer in Canada?

ExxonMobil has applied to cease being a reporting issuer in Canada to streamline its reporting obligations and focus on filings in the US.

What is the significance of the joint order sought by ExxonMobil?

The joint order sought by ExxonMobil aims to allow the company to stop being a reporting issuer in each province of Canada, pending approval from the ASC and the OSC.

Will ExxonMobil continue to provide financial disclosures after ceasing to be a reporting issuer in Canada?

Yes, ExxonMobil will continue to file financial statements and disclosure materials in the US and on the NYSE, even if it ceases to be a reporting issuer in Canada.

Where can ExxonMobil's continuous disclosure documents be accessed?

ExxonMobil's continuous disclosure documents are publicly available to all security holders on www.sec.gov. Security holders in Canada will also receive copies of these documents as required by US securities laws and NYSE rules.