IMPERIAL OIL LTD

Imperial Oil Limited reported strong financial results for the second quarter of 2026, with net income more than doubling to $2,190 million and diluted EPS rising to $4.52. Revenues and cash flows from operating activities also saw substantial increases. The company announced a new normal course issuer bid program to repurchase shares, while also updating its refinery throughput guidance due to unplanned downtime and logistics challenges.

Imperial Oil Limited announced changes to its board of directors. Neil Hansen resigned from his position as director and member of the finance committee and safety and sustainability committee, effective July 30, 2026. Concurrently, Steven Abrahams, CFO of ExxonMobil Product Solutions, was appointed as a new director, also effective July 30, 2026. Mr. Abrahams will not receive compensation for his directorship and will join both the finance committee and the safety and sustainability committee.

Imperial Oil Limited reported strong second quarter 2026 financial results with net income of $2,190 million and diluted EPS of $4.52, significantly up from the prior year, driven by higher commodity prices. The company also announced the renewal of its normal course issuer bid (NCIB) and plans to accelerate share repurchases to complete the program before year-end. However, upstream production saw a slight decrease, and refinery capacity utilization was lower due to planned turnarounds and unplanned downtime, leading to a downward revision in 2026 refinery guidance. Additionally, Imperial signed a non-binding MOU with Canadian and Alberta governments to enhance oil sands competitiveness.

Imperial Oil Limited announced a quarterly cash dividend of 87 cents per share for the third quarter of 2026. The dividend is scheduled to be paid on October 1, 2026, to shareholders of record as of September 4, 2026. This amount matches the dividend paid in the second quarter of 2026. The company highlights its long history of dividend payments, having paid dividends for over a century and increased its annual dividend for 31 consecutive years.

Imperial Oil Limited announced it will host a second quarter earnings call on Friday, July 31, 2026, at 9:00 a.m. MT. The call will take place after the release of the company's second quarter earnings. Chairman, President, and CEO John Whelan, along with Vice-President of Investor Relations Peter Shaw, will host the webcast, which will be accessible for one year on the company's website.

Imperial Oil Limited announced it has received final acceptance from the Toronto Stock Exchange for a normal course issuer bid (NCIB). The company plans to repurchase up to five percent of its 483,592,715 outstanding common shares, totaling a maximum of 24,179,635 shares, over the next 12 months. The new program will commence on June 29, 2026, and conclude by June 28, 2027. ExxonMobil, Imperial's majority shareholder, intends to participate to maintain its approximate 69.6 percent ownership.

Imperial Oil Limited held its annual meeting of shareholders on May 4, 2026. During the meeting, all seven proposed director nominees were successfully elected to hold office until the next annual meeting. Additionally, PricewaterhouseCoopers LLP was reappointed as the company's auditor. A significant 92.65% of outstanding common shares, totaling 448,035,687 shares, were represented at the meeting.

Imperial Oil Limited's Chairman, President, and CEO, John Whelan, presented at the company's Annual General Meeting, providing an update on current operations, major projects, and strategic plans. The presentation highlighted strong 2025 financial results, including $3.3 billion in net income and $4.8 billion in free cash flow. The company also reported record production, significant safety achievements, and progress on future growth initiatives like the Strathcona renewable diesel facility.

Imperial Oil Limited announced it will host a first quarter earnings call on May 1, 2026, at 9:00 a.m. MT. This call will follow the release of the company's first quarter earnings results, providing an opportunity for management to discuss financial performance and business updates with investors and analysts.