Company: OXY-WT
Filing Date: 2025-10-03
Form Type: 8-K
Source: 0001140361-25-037234
Chunk: 1

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-10-03
Form: 8-K
Item: Item 1.01
Chunk 1
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 early termination of the applicable
waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, (ii) the receipt of certain other required regulatory consents or approvals and (iii) the absence of laws or judgments preventing the consummation of the
Transaction. The obligation of each party to consummate the Transaction is also conditioned upon the other party’s representations and warranties being true and correct (subject to certain materiality qualifications) and the other party having
performed in all material respects its obligations under the Purchase Agreement.

The Purchase Agreement contains certain termination rights permitting each party to terminate the Purchase Agreement under certain specified
circumstances, including if the Closing has not occurred on or before March 30, 2026, subject to an automatic extension of 90 days if certain conditions relating to regulatory approvals have not been satisfied or waived by such date.

At the Closing, OCH, certain other subsidiaries of Occidental, as applicable, and OCC will enter into other definitive agreements relating to the
Transaction, including, among others, (i) a Transition Services Agreement, pursuant to which OCH and OCC will provide certain transition services to each other for a period of time following the Closing, and (ii) a Remediation Management Agreement,
pursuant to which, among other things, Glenn Springs Holdings, Inc., a wholly-owned indirect subsidiary of Occidental, will manage, and OCC may perform, certain remedial projects, for which OCH is required to indemnify Berkshire Hathaway under the
Purchase Agreement, at operating sites owned by OCC. At the Closing, Occidental will also enter into a Guaranty in favor of Berkshire Hathaway, pursuant to which Occidental will guarantee OCH’s and ERH’s indemnification obligations under the
Purchase Agreement.

The foregoing description of the Purchase Agreement is not complete and is qualified in its entirety by reference to the Purchase Agreement, which
is filed as Exhibit 2.1 hereto and is incorporated herein by reference.

The foregoing summary has been included to provide security holders with information regarding the terms of the Purchase Agreement. It is not
intended to provide any factual information about Occidental, OCH, ERH, OCC or Berkshire Hathaway or their respective subsidiaries or affiliates. The Purchase Agreement contains representations and warranties that OCH and ERH, on one hand, and
Berkshire Hathaway, on the other hand, made to and solely for the benefit of each other as of specific dates. The assertions embodied in