ExxonMobil’s board unanimously recommended that shareholders approve changing the company’s legal domicile from New Jersey to Texas, citing alignment of its legal home with its headquarters in Spring, Texas, where leadership, corporate functions and major research facilities have been based since 1989.

The board highlighted Texas’ modernized business statutes, the Texas Business Court’s efficient dispute resolution under clear statute-based standards and largely comparable or stronger shareholder rights under Texas law, supporting sound decision-making and enhanced corporate governance.

ExxonMobil stated the redomiciliation will not affect its business operations, management, strategy, assets or workforce; shareholders will vote on the proposal at the 2026 Annual Meeting, with no plans to adopt provisions that could reduce existing shareholder rights.