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Investor Presentaiton

Reducing Operational Emissions SCOPE 1 REDUCING GAS FLARING IN THE PERMIAN In Occidental's New Mexico operations, a new gas gathering system has dramatically reduced volumes of flared gas. This gathering system reduces our reliance on third-party takeaway capacity and avoids unscheduled flaring events by facilitating the transfer of sales gas to multiple third- party midstream companies. SCOPE 3 FUEL SWITCHING IN UPSTREAM DRILLING OPERATIONS RIG FUEL SWITCHING: EMISSIONS REDUCED OXY Our Tier 4 rigs, in direct comparison to the typical 2017 2018 2019 8 Tier 2 diesel fuel-powered -10 rig, have the advantage of: -20 -27% -26% -27% -30 96% -40 (APPROX.) -50 REPLACEMENT OF DIESEL USAGE WITH -60 COMPRESSED NATURAL GAS (CNG) -70 -80 +15% ESTIMATED GHG EMISSION DECREASE BY 2019 -91% -90 -97% -96% -100 PERCENT REDUCTION Decrease in diesel fuel utilization SCOPE 2 REDUCING INDIRECT EMISSIONS: GOLDSMITH SOLAR PLANT CREATION CO₂e emissions reduced with CNG fuel replacement "OCCIDENTAL IS TAKING AN IMPORTANT STEP TOWARD REALIZING OUR ASPIRATION TO BECOME CARBON NEUTRAL THROUGH THE USE OF EMISSIONS-FREE SOLAR ELECTRICITY. USING SOLAR ENERGY IN OUR OPERATIONS IS ANOTHER WAY OXY LOW CARBON VENTURES IS ENHANCING THE PROFITABILITY AND SUSTAINABILITY OF OUR BUSINESS WHILE MEETING THE CHALLENGE OF REDUCING ATMOSPHERIC GREENHOUSE GASES." VICKI HOLLUB PRESIDENT AND CEO 37
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