Domestic Inventory and Well Costs

INITIAL CAPITAL ALLOCATION - FEB 2022 2022 CAPITAL BUDGET $3.9 B $4.3 B CAPITAL PROGRAM BY ASSET - $0.2 $0.3-$0.5 Exploration & Corporate Midstream & Marketing (includes LCV) CAPITAL PROGRAM BY TYPE $0.3 $0.5 OxyChem $0.5 GoM $0.4 International Rockies & Other $1.7 - $1.9 Permian Facilities 20% D,C&E 58% Oil & Gas Base Maintenance 7% Exploration 4% OBO & Other 11% 18 CAPITAL PROGRAM HIGHLIGHTS • • Production sustained with budget of $3.9 B -$4.3 B Net-Zero transition capital for LCV projects and to lower GHG emissions о ° -$80 MM for GHG reduction projects including retrofitting pneumatic devices, eliminating tank venting, and consolidating facilities Projects are throughout the portfolio with a majority in domestic oil & gas • Value-based development with best-in-class capital intensity • Increased investment for mid-cycle projects in GoM and EOR • Includes $500 MM to support future year projects о DAC and CCUS funding, Exploration, Al Hosn expansion, etc. OXY 2022 Budget NOTE: APPRAISAL CAPITAL INCLUDED WITHIN EACH BUSINESS ABOVE, WILL BE INCLUDED WITH EXPLORATION IN REPORTED FINANCIALS

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