IMPERIAL OIL LTD SEC Filings

Imperial Oil Limited reported changes to its board of directors. On July 30, 2026, N.A. (Neil) Hansen announced his intention to step down and resigned as a director and member of the board’s finance committee and safety and sustainability committee, effective that same date.

On July 30, 2026, following a recommendation from the nominations and corporate governance committee, the board appointed S.D. (Steven) Abrahams as a director. Abrahams, chief financial officer of ExxonMobil Product Solutions, will serve on the finance committee and safety and sustainability committee and, as an employee of Exxon Mobil Corporation, will not receive compensation for acting as a director.

Imperial Oil Limited reported higher second quarter 2026 results, with net income of 2,190 million Canadian dollars and diluted EPS of 4.52, compared with 949 million and 1.86 a year earlier. Cash flows from operating activities were 2,704 million, and free cash flow was 2,234 million.

Upstream production averaged 414,000 gross oil-equivalent barrels per day, including 257,000 at Kearl (182,000 Imperial’s share), 149,000 at Cold Lake and 73,000 from Syncrude. Downstream refinery throughput averaged 331,000 barrels per day, a 76 percent utilization rate, reflecting planned turnaround work and some unplanned downtime; chemical net income increased to 65 million from 21 million.

The company updated 2026 refinery throughput guidance to 370,000–380,000 barrels per day and utilization to 85–88 percent from 395,000–405,000 and 91–93 percent. Imperial returned 421 million to shareholders via dividends, declared a third-quarter dividend of 0.87 per share, and renewed its normal course issuer bid to repurchase up to 24,179,635 common shares.

Imperial Oil Limited declared a quarterly cash dividend of 87 cents per share on its outstanding common shares for the third quarter of 2026. The dividend is payable on October 1, 2026 to shareholders of record as of the close of business on September 4, 2026.

This third-quarter dividend matches the company’s second-quarter 2026 dividend of 87 cents per share and continues a long record of shareholder returns. Imperial reports that it has paid dividends every year for over a century and has increased its annual dividend payment for 31 consecutive years while operating as a major Canadian petroleum refiner, crude oil producer and fuels marketer.

Imperial Oil Limited disclosed plans for its 2026 second quarter earnings call. The call will be held on July 31, 2026 at 9:00 a.m. MT, following that morning’s second quarter earnings release, and will be accessible via webcast. Chairman, president and chief executive officer John Whelan and vice-president, investor relations Peter Shaw will host the event, with brief remarks followed by questions from covering analysts. The webcast can be accessed through an online registration link and will remain available for one year on the company’s website. The company also outlines contingency arrangements for accessing the earnings release on its website or Canada’s SEDAR+ system if EDGAR experiences technical difficulties.

Imperial Oil Limited has received final acceptance from the Toronto Stock Exchange for a new normal course issuer bid that allows it to repurchase up to 24,179,635 common shares, representing five percent of its outstanding stock. As of June 15, 2026, the company had 483,592,715 issued and outstanding common shares.

The one-year program will run from June 29, 2026 to June 28, 2027, or until the maximum is purchased. Imperial has set up an automatic share purchase plan so its broker can buy shares from public holders and from ExxonMobil during regulatory blackouts, under pre-set parameters cleared by the TSX.

ExxonMobil, which holds approximately 69.6 percent of Imperial, may sell shares to maintain its ownership level, and any such sales reduce the amount available for purchases from other shareholders. Shares bought under the program will be cancelled. The company notes that the bid supports its focus on returning surplus cash to shareholders and offsetting dilution from restricted stock units. The announcement follows completion of the prior program in December 2025, when Imperial repurchased the full 25,452,248 authorized shares at a total cost of about $3,180 million, or an average of $124.93 per share.

Imperial Oil Limited reported the results of its annual shareholder meeting held on May 4, 2026. All seven nominated directors were elected to serve until the next annual meeting, with each receiving a strong majority of votes cast.

Shareholder participation was high, with 448,035,687 shares represented, equal to 92.65 percent of outstanding common shares. Support levels for individual nominees ranged from 409,772,988 to 441,335,843 shares voted in favour. PricewaterhouseCoopers LLP was also reappointed as the company’s auditor, receiving 437,529,788 shares voted for and 10,505,899 shares withheld.

Imperial Oil Limited used its 2026 annual shareholder meeting to highlight strong recent performance and outline long-term plans. For 2025, the company reported net income of $3.3B, cash from operating activities of $6.7B, free cash flow of $4.8B and $4.6B returned to shareholders.

Over 2021–2025, cumulative net income reached $22.8B, cash from operations $32.4B, free cash flow $25.3B and shareholder returns $23.6B. Operationally, Imperial reported its highest full-year gross production in over 30 years at 438 thousand oil-equivalent barrels per day, including 280 thousand barrels per day from Kearl and 151 thousand from Cold Lake, alongside 402 thousand barrels per day of refining throughput at 93% utilization.

The presentation emphasized safety, Indigenous community spending of more than $1B annually, and growth projects such as Canada’s largest renewable diesel facility at Strathcona and an Enhanced Bitumen Recovery Technology pilot. Imperial also detailed several non-GAAP measures, including free cash flow and cash operating costs, with reconciliations to GAAP metrics.

Imperial Oil reported first‑quarter 2026 net income of $940 million, down from $1,288 million a year earlier, as higher purchases of crude and products and stronger selling and general expenses offset broadly stable revenues of $12,446 million. Diluted earnings per share were $1.94 versus $2.52.

Operating cash flow was $756 million, compared with $1,527 million in the prior‑year quarter, while capital and exploration expenditures rose to $478 million. The company ended the period with $1,029 million in cash, long‑term debt of $3,974 million, and declared dividends of $0.87 per share.

Imperial Oil Limited reported first quarter 2026 net income of $940 million, or $1.94 per diluted share, compared with $1,288 million a year earlier but up from $492 million in the fourth quarter of 2025.

First quarter 2026 total revenues and other income were $12,446 million, slightly below $12,517 million in 2025. Cash flows from operating activities were $756 million, down from $1,527 million in the prior-year quarter, while operating cash flow excluding working capital was $1,239 million, versus $1,760 million.

Upstream gross oil-equivalent production averaged 419,000 barrels per day, essentially flat year over year, with Kearl at 259,000 total gross barrels per day and Cold Lake at 155,000 gross barrels per day. Refinery throughput averaged 384,000 barrels per day, reflecting 88 percent capacity utilization, affected by unplanned downtime and Syncrude coker issues.

Imperial returned $350 million to shareholders through dividends in the quarter, declared a second quarter dividend of $0.87 per share, increased capital and exploration spending to $478 million, and indicated it intends to renew its normal course issuer bid in June 2026.