Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 21

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 21
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                                                                                                                                                                                                           4 | RECOMMENDNOMINEE(S) |
| •The GovernanceCommittee evaluatesBoard composition atleast annually anddetermines skills andqualifications desirablefor new directors basedon the company’s short-and long-term strategies,opportunities andchallenges as well asdirector feedback fromthe annual Boardevaluation process. |                         |   | •Based on its assessmentof Board composition, theGovernance Committeeidentifies certain skill setsand attributes to prioritizeand guide the GovernanceCommittee’s andBoard’s search.•Diverse pool ofprospective candidates isidentified using multiplesources, includingindependent search firmsand directorrecommendations. |                                |   | •The GovernanceCommittee reviewsavailable information onprospective nominees toevaluate candidateexperience, skills andqualifications,independence, conflicts ofinterest, background, fit andother commitments.•Committee and Boardmembers meet withqualified top candidates. |                    |   | •The GovernanceCommitteerecommendsprospective directorcandidate(s) to theBoard for approval.•The Boardrecommends directornominees toshareholders andshareholders vote onsuch nominees at theannual meeting. |                     |

| 24 |

Corporate Governance

Proxy Access for Shareholder-Nominated Director Candidates Occidental’s Amended and Restated By-laws (By-laws) permit a group of up to 20 shareholders, collectively owning 3% or more of Occidental’s outstanding common stock continuously for at least three years, to nominate and have included in Occidental’s proxy materials director nominees constituting up to 20% of the Board, but not less than two directors, provided that the shareholder(s) and the nominee(s) meet the requirements set forth in Occidental’s By-laws. For more information on proxy access and other procedures to recommend candidates to the Board, see “ Director Nominations for the 2026 Annual Meeting ” beginning on page.

| 3%shares                                                                                                                                            | for | 3years |     | 2nominees                                                                                                                                    | or | 20%of the number of directors |     |                                                                                                                         |
| Any shareholder or group of up to20shareholders maintaining continuousqualifying ownership of at least3%of ouroutstanding shares for at least3years |     |        |     | Can nominate, and have included in our proxymaterials, director nominees constituting thegreater of2nominees or20%(rounded down)of the Board |    |                               |     | Nominating shareholder(s