Investor Presentaiton

A Advancing our lower carbon future Lower carbon intensity Upstream CO2 intensity 35% by 2028 reduction target¹ Net Zero² Upstream Scope 1 & 2 aspiration Grow new energies 2030 targets Renewable fuels 100 MBD By 2050 CO2 CCUS & offsets 25 MMTPA PCI¹ reduction target³ Scope 1, 2 & 34 >5% by 2028 H₂ Hydrogen 5 150 KTPA 1 From 2016 baseline. 2 Accomplishing this aspiration depends on continuing progress on commercially viable technology; government policy; successful negotiations for CCS and nature- based projects; availability of cost-effective, verifiable offsets in the global market; and granting of necessary permits by governing authorities. 3 PCI - portfolio carbon intensity (PCI) is a metric that represents the carbon intensity across the full value chain associated with bringing products to market. This target is expected to allow Chevron flexibility to grow its traditional upstream and downstream business, provided it remains increasingly carbon-efficient. © 2023 Chevron 4 Scope 3 includes emissions from use of products. 5 Chevron's approach to hydrogen envisions the use of green, blue and gray hydrogen. Chevron 21 21

View entire presentation