Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 5

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 5
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 while reducing emissions. Occidental’s chemical subsidiary, OxyChem, is a leading North American manufacturer that produces the building blocks for life-enhancing products, including drinking water, medical supplies and construction materials. 2024 Performance Highlights For information regarding the relationship between our performance highlights and the executive compensation program, please see “Compensation Discussion and Analysis,” beginning on page 35 .

|                                                                                                                                                                                                                                                                                                                                                                                                                   | Operations |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Financial              |
| ►Achieved record annual U.S. oil production►Reduced full-year domestic operational expenditures perBOE1by ~9% compared to 2023►Increased proved reserves by ~600 million BOE to ~4.6billion BOE►Completed construction of STRATOS Trains 1 and 2, thecapture units of Phase 1 of the project►Generated OxyChem reported income of >$1.1 billion andmet Battleground modernization and expansionproject milestones |            |     | ►Generated $11.7 billion of operating cash flow and $4.9 billion offree cash flow before working capital2►Closed $1.7 billion of non-core divestitures►Completed near-term commitment of $4.5 billion of debtrepayments►Increased quarterly dividend by >22%                                                                                                                                                                                           |                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                   | Strategic  |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                        | HSE and Sustainability |
| ►Completed the acquisition of CrownRock, L.P., addingMidland Basin scale and high-margin inventory►Advanced direct air capture (DAC) initiatives by acceleratingpace of Carbon Engineering research and development,integrating technological breakthroughs into construction ofSTRATOS and fostering industry-leading carbon dioxideremoval (CDR) partnerships                                                   |            |     | ►Achieved best safety performance ever with 0.16 TRIR3, tyingour previous record from 2020, with higher activity levels in 2024►Sustained zero routine flaring in our U.S. oil and gas operations►Reduced routine flaring in our global oil and gas operations by80% compared to 2020 baseline through additional gascompression in Oman►Received 47 awards from the American Chemistry Council forOxyChem's 2024 environmental and safety performance |                        |

(1) Barrels of oil equivalent. (2) Free cash flow before working capital is a non-GAAP financial measure. See Annex A for a reconciliation to GAAP. (3) Our Total Recordable Injury Rate (TRIR) per