IMPERIAL OIL LTD

Imperial Oil Limited (TSX: IMO) is one of Canada's largest integrated oil companies, operating across the full petroleum value chain from exploration and production through refining, distribution, and marketing. The company is approximately 69.6 percent owned by Exxon Mobil Corporation. Imperial's operations are organized into three primary business segments: Upstream, Downstream, and Chemical.

The Upstream segment focuses on exploration for and production of crude oil, natural gas, synthetic crude oil, and bitumen across Canada. Key operations include the Kearl oil sands project, which produced approximately 188,000 barrels per day of net bitumen production in 2025, the Cold Lake in-situ heavy oil operation producing roughly 122,000 barrels per day, and a 25 percent interest in the Syncrude joint venture producing approximately 68,000 barrels per day of synthetic crude oil. The company also maintains exploration interests in the Beaufort Sea and evaluates additional oil sands development opportunities. Total proved reserves as of December 31, 2025 were approximately 2,036 million barrels of oil-equivalent basis, with all reserves located in Canada.

The Downstream segment encompasses crude oil transportation via pipeline, refining operations through three refineries with combined capacity of 434,000 barrels per day, and distribution and marketing of petroleum products under the Esso and Mobil brand names. The company operates approximately 2,600 branded wholesale sites across Canada and sells petroleum products including gasolines, diesel, heating fuels, and lubricants to industrial, commercial, and consumer markets.

The Chemical segment manufactures and markets petrochemicals including aliphatic solvents, plasticizer intermediates, and polyethylene resin from facilities in Sarnia, Ontario, adjacent to the company's refinery operations.

Imperial employed approximately 5,000 regular employees at year-end 2025. The company pursues lower-emission business opportunities including carbon capture and storage, hydrogen production, renewable diesel, and lithium extraction. Imperial's website is located at www.imperialoil.ca.