Domestic Inventory and Well Costs

2022 CASH FLOW PRIORITIES Excess cash flow continues to be allocated to balance sheet improvement + Shareholder return framework advances as debt targets are achieved OXY FUTURE PRIORITIES CURRENT FOCUS CONTINUED FOCUS for 1999 E Maintain Production Base Preserve asset base integrity and longevity Debt Reduction Lower expenses and enhance balance sheet flexibility Sustainable & Growing Dividend Through-the-cycle sustainability with long-term growth potential Repurchase Shares Support capital appreciation and per share dividend growth Cash Flow Growth Capital Investment to support cash flow growth Capability to grow production if market-driven Retire Preferred Equity With superior shareholder returns or at predetermined time 17 17

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