May 20, 2024
Dear ExxonMobil Shareowner:
Protect Shareowner Rights - Vote AGAINST the Board of Directors
CalPERS is the largest state public pension fund in the U.S. with approximately $490 billion in total assets under management and a significant long-term owner of ExxonMobil.
We are voting AGAINST all board members at the Company’s May 29, 2024, annual meeting.
In January 2024, ExxonMobil filed a lawsuit against two shareowners who filed a shareowner resolution. The two shareowners have since withdrawn their proposal. However, ExxonMobil continues to pursue legal action.
| • | We have requested that ExxonMobil drop the lawsuit. |
| • | The SEC Exchange Act Rule 14a-8 is a well-established process that has successfully provided shareowners with a voice for decades. |
| • | The lawsuit could undermine shareholder rights through circumventing the 14a-8 process. |
| • | This lawsuit may have a chilling effect on future shareowner proposals in the United States. |
We urge shareowners to join us in protecting our shareowner rights by voting AGAINST the ExxonMobil Board of Directors.
For questions, please contact the CalPERS Media Team at newsroom@calpers.ca.gov.
Thank you for your support.
Sincerely,
DREW HAMBLY
Investment Director, Global Public Equity
CalPERS Investment Office
