Risk Factors Update Summary

• Occidental may face increased scrutiny from stakeholders and media related to emissions reduction goals.
• The Infrastructure Investment and Jobs Act reinstated federal Superfund excise taxes on listed taxable chemicals, potentially increasing costs by up to $2.6 billion.
• The SEC proposed rules would require significant additional disclosure, with a tentative refund of approximately $1.2 billion.
• Occidental may not achieve the intended benefits of the CrownRock Acquisition, facing integration challenges and unforeseen expenses.
• The IRA imposed a 1% excise tax on corporate share repurchases, with guidance expected in 2024.
• Occidental may incur large expenditures for data security breaches, potentially impacting operations and reputation.
• Occidental's ability to access credit and capital markets may be restricted, affecting flexibility in reacting to economic changes.
• Occidental may not be able to complete planned divestitures of assets worth $4.5 to $6.0 billion.
• The EPA proposed regulations to regulate methane and VOC emissions, with charges starting at $900 per metric ton in 2024.
• Occidental may incur substantial indebtedness of up to $9.1 billion for the CrownRock Acquisition.
• The EPA set an interim value of $51 per metric ton of CO2 emissions, subject to legal challenges.
• The EPA proposed amendments to the GHG Reporting Rule, aiming to increase data collection and revise emissions estimation methodologies.
• The EPA proposed regulations to implement a methane emissions charge, with charges increasing annually.
• The EPA proposed changes to the GHG Reporting Rule, including a new reporting category for CO2 sequestration.