# EDGAR Filing Document

**Accession Number:** 0000797468
**File Stem:** 0000797468-23-000009
**Filing Date:** 2023-2
**Character Count:** 138097
**Document Hash:** 20a8245f0efecc5917b993217892fa79
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000797468-23-000009.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0000797468-23-000009

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230227

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OCCIDENTAL PETROLEUM CORP /DE/
- **CENTRAL INDEX KEY:** 0000797468
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **IRS NUMBER:** 954035997
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-09210
- **FILM NUMBER:** 23675097

**BUSINESS ADDRESS:**
- **STREET 1:** 5 GREENWAY PLAZA
- **STREET 2:** SUITE 110
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 7132157000

**MAIL ADDRESS:**
- **STREET 1:** 5 GREENWAY PLAZA
- **STREET 2:** SUITE 110
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

?xml version="1.0" ? oxy-20230227

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934** 

Date of Report (Date of Earliest Event Reported): February 27, 2023

**OCCIDENTAL PETROLEUM CORPORATION**

(Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **1-9210** | **95-4035997** |
| **(State or Other Jurisdiction <br>of Incorporation)** | **(Commission <br>File Number)** | **(IRS Employer <br>Identification No.)** |

---

---

| | |
|:---|:---|
| **5 Greenway Plaza, Suite 110**<br>**Houston, Texas** | **77046** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

Registrant's Telephone Number, Including Area Code: **(713) 215-7000**

**Not Applicable** 

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which <br>Registered |
| Common Stock, $0.20 par value | OXY | New York Stock Exchange |
| Warrants to Purchase Common Stock, $0.20 par value | OXY WS | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Results of Operations and Financial Condition</u>.**

On February 27, 2023, Occidental Petroleum Corporation (the "Company") issued a press release announcing the Company's financial condition and results of operations for the quarter and full-year ended December 31, 2022. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information contained in this report and the exhibits hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be incorporated by reference into any filings made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp; <u>Financial Statements and Exhibits</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release dated February 27, 2023.](oxyex99112-31x2022earnings.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

**OCCIDENTAL PETROLEUM CORPORATION**

---

| | |
|:---|:---|
| By: | /s/ Christopher O. Champion |
|  | Christopher O. Champion |
|  | Vice President, Chief Accounting Officer and Controller |

---

Date: February 27, 2023

## Exhibit 99.1

---

| | |
|:---|:---|
| ![imagea.jpg](imagea.jpg) | **PRESS RELEASE** |

---

**Occidental Announces 4th Quarter 2022 Results**

• Announced enhanced shareholder return framework including a new $3.0 billion share repurchase authorization and 38% increase to common dividend

• Completed $3.0 billion share repurchase program with $562 million of repurchases in the fourth quarter, bringing total year repurchases to 47.7 million shares

• Repaid $1.1 billion of debt and retired $450 million of interest rate swaps during the fourth quarter, with total year debt repayments of over $10.5 billion, representing 37% of total outstanding principal

• OxyChem exceeded guidance with pre-tax earnings of $457 million, establishing record year pre-tax earnings of $2.5 billion

• Cash flow from continuing operations of $4.0 billion and cash flow from continuing operations before working capital of $4.1 billion

• Capital spending of $1.5 billion, resulting in quarterly free cash flow before working capital of $2.6 billion

• Earnings per diluted share of $1.74 and adjusted earnings per diluted share of $1.61

• Worldwide year-end proved reserves of 3.8 billion BOE, with reserves replacement of 172% and finding and development costs of $6.60 per BOE

**HOUSTON** — February 27, 2023 — <u>Occidental</u> (NYSE: OXY) today announced net income attributable to common stockholders for the fourth quarter of 2022 of $1.7 billion, or $1.74 per diluted share, and adjusted income attributable to common stockholders of $1.6 billion, or $1.61 per diluted share. Fourth quarter after-tax items affecting comparability of $127 million included a non-cash tax benefit adjustment of $123 million related to a post-Anadarko acquisition reorganization of legal entities.

"Our fourth quarter of 2022 performance capped a year of strong results, in which we set operational records across our U.S. Onshore, Gulf of Mexico and International oil and gas businesses, while OxyChem delivered record earnings," said President and Chief Executive Officer Vicki Hollub. "Our operational success drove the financial achievements that enabled us to complete our $3.0 billion share repurchase program and deliver substantial balance sheet improvements. Our teams are well positioned to maintain this operational success, as we continue to focus on delivering value for our shareholders in 2023 through our recently authorized $3.0 billion share repurchase program and a 38% increase to our sustainable dividend."

**QUARTERLY RESULTS**

**Oil and Gas**

Oil and gas pre-tax income on continuing operations for the fourth quarter was $2.5 billion, compared to pre-tax income of $3.3 billion for the third quarter of 2022. The fourth quarter results included $46 million of gains on sales of assets. Excluding items affecting comparability, fourth quarter oil and gas income declined due to lower worldwide crude oil and natural gas liquids (NGL) and domestic natural

------

gas prices and higher exploration expenses, partially offset by higher crude oil sales volumes. For the fourth quarter of 2022, average WTI and Brent marker prices were $82.65 per barrel and $88.68 per barrel, respectively. Average worldwide realized crude oil prices decreased by approximately 12% from the prior quarter to $83.64 per barrel. Average worldwide realized natural gas liquids (NGL) prices decreased by approximately 25% from the prior quarter to $26.35 per barrel. Average domestic realized gas prices decreased by approximately 37% from the prior quarter to $4.45 per Mcf.

Total average global production from continuing operations of 1,227 thousand of barrels of oil equivalent per day (Mboed) for the fourth quarter came within the midpoint of guidance. Permian, Rockies & Other Domestic, Gulf of Mexico and International average daily production volumes all came within guidance at 565 Mboed, 272 Mboed, 150 Mboed and 240 Mboed, respectively.

**Oil and Gas Proved Reserves**

As of December 31, 2022, Occidental's worldwide proved reserves totaled 3.8 billion barrels of oil equivalent (BOE), compared to 3.5 billion BOE for the same period in the prior year. Proved reserve additions were mainly driven by positive revisions associated to infill development projects of 335 million BOE, primarily in the Permian and DJ Basins, and extensions and discoveries of 176 million BOE, mostly in the Delaware Basin, along with improved recovery of 89 million BOE, mostly in the Permian EOR business. Other revisions of 139 million BOE are primarily related to positive price revisions.

**OxyChem**

Chemical pre-tax income of $457 million for the fourth quarter exceeded guidance. Compared to prior quarter income of $580 million, fourth quarter results reflected declining polyvinyl (PVC) prices and lower volumes across most product lines, partially offset by favorable raw materials costs, primarily for ethylene and energy.

**Midstream and Marketing**

Midstream and marketing pre-tax loss for the fourth quarter was $45 million, compared to income of $104 million for the third quarter of 2022. The fourth quarter results included $73 million of derivative losses and $36 million of gains on sales of assets. WES equity income for the fourth quarter was $169 million. Excluding items affecting comparability, the decrease in midstream and marketing pre-tax fourth quarter results reflected the timing impact of crude oil sales in the marketing business and the seasonal impact of the power business, partially offset by higher gas marketing margins from transportation capacity optimization.

**Supplemental Non-GAAP Measures**

This press release refers to adjusted income (loss), cash flow from continuing operations before working capital and free cash flow, which are supplemental measures not calculated in accordance with generally accepted accounting principles in the United States (GAAP). These Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as an alternative to the comparable GAAP financial measures. Definitions of adjusted income (loss) and a reconciliation to net income (loss), along with cash flow from continuing operations before working capital and free cash flow and a reconciliation to the comparable GAAP financial measures, are included in the financial schedules of this press release. Occidental's definition of adjusted income (loss), cash flow from continuing operations before working capital and free cash flow may

------

differ from similarly titled measures provided by other companies in our industry and as a result may not be comparable.

This press release also refers to finding and development costs (F&D Costs) and reserves replacement ratio, which are non-GAAP measures that Occidental believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures may differ from similarly titled measures provided by other companies and as a result may not be comparable. F&D Costs - All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for the year. F&D Costs - Organic is F&D Costs - All-In excluding both the property acquisition costs and purchase of minerals in place, and F&D Costs - Program Additions further excludes price and other revisions that are not infills. Reserves Replacement - All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves Replacement - Organic is Reserves Replacement - All-In, excluding purchases and sales of minerals in place for the year. Reserves Replacement - Program Additions further excludes price and other revisions that are not infills.

**About Occidental**

Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Our Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. We are committed to using our global leadership in carbon management to advance a lower-carbon world. Visit oxy.com for more information.

**Forward-Looking Statements**

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about Occidental's expectations, beliefs, plans or forecasts. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, and they include, but are not limited to: any projections of earnings, revenue or other financial items or future financial position or sources of financing; any statements of the plans, strategies and objectives of management for future operations, business strategy or financial position; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Words such as "estimate," "project," "predict," "will," "would," "should," "could," "may," "might," "anticipate," "plan," "intend," "believe," "expect," "aim," "goal," "target," "objective," "commit," "advance," "likely" or similar expressions that convey the prospective nature of events or outcomes are generally indicative of forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Occidental does not undertake any obligation to update, modify or withdraw any forward-looking statements as a result of new information, future events or otherwise.

Although Occidental believes that the expectations reflected in any of its forward-looking statements are reasonable, actual results may differ from anticipated results, sometimes materially. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve and assumptions that are subject to change in the future. Factors that could cause results to differ from those projected or assumed in any forward-looking statement include, but are not limited to: general economic conditions, including slowdowns and recessions, domestically or internationally; Occidental's indebtedness and other payment obligations, including the need to generate sufficient cash flows to fund operations; Occidental's ability to successfully monetize select assets and repay or refinance debt and the impact of changes in Occidental's credit ratings; the scope and duration of the global or regional health pandemics or epidemics, including the COVID-19 pandemic

------

and ongoing actions taken by governmental authorities and other third parties in response to the pandemic; assumptions about energy markets; global and local commodity and commodity-futures pricing fluctuations and volatility; supply and demand considerations for, and the prices of, Occidental's products and services; actions by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producing countries; results from operations and competitive conditions; future impairments of Occidental's proved and unproved oil and gas properties or equity investments, or write-downs of productive assets, causing charges to earnings; unexpected changes in costs; inflation, its impact on markets and economic activity and related monetary policy actions by governments in response to inflation; availability of capital resources, levels of capital expenditures and contractual obligations; the regulatory approval environment, including Occidental's ability to timely obtain or maintain permits or other governmental approvals, including those necessary for drilling and/or development projects; Occidental's ability to successfully complete, or any material delay of, field developments, expansion projects, capital expenditures, efficiency projects, acquisitions or dispositions; risks associated with acquisitions, mergers and joint ventures, such as difficulties integrating businesses, uncertainty associated with financial projections, projected synergies, restructuring, increased costs and adverse tax consequences; uncertainties and liabilities associated with acquired and divested properties and businesses; uncertainties about the estimated quantities of oil, NGL and natural gas reserves; lower-than-expected production from development projects or acquisitions; Occidental's ability to realize the anticipated benefits from prior or future streamlining actions to reduce fixed costs, simplify or improve processes and improve Occidental's competitiveness; exploration, drilling and other operational risks; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver Occidental's oil and natural gas and other processing and transportation considerations; volatility in the securities, capital or credit markets; governmental actions, war (including the Russia-Ukraine war) and political conditions and events; environmental risks and liability under federal, regional, state, provincial, tribal, local and international environmental laws, and regulations, and litigation (including the potential liability for remedial actions or assessments under existing or future laws, regulations and litigation); legislative or regulatory changes, including changes relating to hydraulic fracturing or other oil and natural gas operations, retroactive royalty or production tax regimes, deep-water and onshore drilling and permitting regulations and environmental regulations (including regulations related to climate change); Occidental's ability to recognize intended benefits from its business strategies and initiatives, such as Occidental's low carbon ventures businesses or announced greenhouse gas emissions reduction targets or net-zero goals; potential liability resulting from pending or future litigation; disruption or interruption of production or manufacturing or facility damage due to accidents, chemical releases, labor unrest, weather, power outages, natural disasters, cyber-attacks, terrorist acts or insurgent activity; the creditworthiness and performance of Occidental's counterparties, including financial institutions, operating partners and other parties; failure of risk management; Occidental's ability to retain and hire key personnel; supply, transportation, and labor constraints; reorganization or restructuring of Occidental's operations; changes in state, federal or international tax rates; and actions by third parties that are beyond Occidental's control.

Additional information concerning these and other factors that may cause Occidental's results of operations and financial position to differ from expectations can be found in Occidental's other filings with the U.S. Securities and Exchange Commission, including Occidental's Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

**Contacts** 

---

| | |
|:---|:---|
| **Media**  | **Investors** |
| Eric Moses | Neil Backhouse |
| 713-497-2017 | 713-366-5604 |
| <u>eric_moses@oxy.com</u> | <u>neil_backhouse@oxy.com</u> |

---

------

---

| |
|:---|
| **Occidental Petroleum Corporation** |
| **Fourth Quarter and Full-Year 2022** |
| **Earnings Release Schedules Index** |

---

<u>Schedule # and Description</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>[Summary Highlights](#i64b6d625808142fda8cbfc62b2d2c2cb_7)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>[Items Affecting Comparability Detail](#i64b6d625808142fda8cbfc62b2d2c2cb_10)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Before Tax Allocations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• After Tax Allocations&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>[Segment Results Before Tax Allocations](#i64b6d625808142fda8cbfc62b2d2c2cb_13)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reported Results

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Items Affecting Comparability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted Results (non-GAAP)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>[Segment Results After Tax Allocations](#i64b6d625808142fda8cbfc62b2d2c2cb_16)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reported Results

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Items Affecting Comparability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted Results (non-GAAP)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reconciliation - Diluted EPS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>[Consolidated Condensed Statements of Operations](#i64b6d625808142fda8cbfc62b2d2c2cb_19)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>[Consolidated Condensed Balance Sheets](#i64b6d625808142fda8cbfc62b2d2c2cb_22)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>[Consolidated Condensed Statements of Cash Flows](#i64b6d625808142fda8cbfc62b2d2c2cb_25)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Detail of Capital Expenditures and Depreciation, Depletion and Amortization

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>[Oil & Gas Net Production Volumes Per Day](#i64b6d625808142fda8cbfc62b2d2c2cb_28)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MBOE/D

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• By Commodity

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>[Oil & Gas Net Sales Volumes Per Day and Realized Prices](#i64b6d625808142fda8cbfc62b2d2c2cb_31)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MBOE/D

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Realized Prices and Related Index Prices

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>[Oil and Gas Metrics](#i64b6d625808142fda8cbfc62b2d2c2cb_34)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>[Reserves Replacement and Multi-Year Data - Worldwide](#i64b6d625808142fda8cbfc62b2d2c2cb_37)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>[Reserves Replacement and Multi-Year Data - United States Only](#i64b6d625808142fda8cbfc62b2d2c2cb_40)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.<u>[Proved Oil Reserves](#i64b6d625808142fda8cbfc62b2d2c2cb_43)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.<u>[Proved NGL](#i64b6d625808142fda8cbfc62b2d2c2cb_46)[Reserves](#i64b6d625808142fda8cbfc62b2d2c2cb_46)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.<u>[Proved Natural Gas Reserves](#i64b6d625808142fda8cbfc62b2d2c2cb_49)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.<u>[Total Proved Reserves](#i64b6d625808142fda8cbfc62b2d2c2cb_52)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.<u>[Costs Incurred](#i64b6d625808142fda8cbfc62b2d2c2cb_55)</u>

------

**SCHEDULE 1**

**Occidental Petroleum Corporation**

**Summary Highlights**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| **<u>Quarterly</u>** |  | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| **Net Income (Loss) ($ millions)** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Reported income (loss) attributable to common stockholders |  | $(346) | $(97) | $628 | $1337 | $1522 | $4676 | $3555 | $2546 | $1727 | $12504 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reported EPS - Diluted ($/share) |  | $(0.36) | $(0.10) | $0.65 | $1.37 | $1.58 | $4.65 | $3.47 | $2.52 | $1.74 | $12.40 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effective tax rate on reported income (loss) (%) |  | 5% | 30% | 32% | 23% | 25% | (58)% | 25% | 25% | 20% | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted income (loss) attributable to common stockholders (Non-GAAP) | (a) | $(136) | $311 | $836 | $1448 | $2459 | $2127 | $3240 | $2465 | $1600 | $9432 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted EPS - Diluted (Non-GAAP) ($/share) | (b) | $(0.15) | $0.32 | $0.87 | $1.48 | $2.55 | $2.12 | $3.16 | $2.44 | $1.61 | $9.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effective tax rate on adjusted income (loss) (%) |  | (327)% | 31% | 30% | 27% | 27% | 25% | 25% | 26% | 25% | 25% |
| **Average Shares Outstanding - Reported Income (Loss)** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic (millions) |  | 933.1 | 934.2 | 935.4 | 936.5 | 935.0 | 936.7 | 939.2 | 922.0 | 905.7 | 926.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted (millions) |  | 947.9 | 934.2 | 957.7 | 972.7 | 958.8 | 997.7 | 1018.3 | 1002.5 | 990.5 | 1002.0 |
| **Average Shares Outstanding - Adjusted Income (Loss)** | (b) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic (millions) |  | 933.1 | 934.2 | 935.4 | 936.5 | 935.0 | 936.7 | 939.2 | 922.0 | 905.7 | 926.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted (millions) |  | 933.1 | 956.8 | 957.7 | 972.7 | 958.8 | 936.7 | 1018.3 | 1002.5 | 990.5 | 1002.0 |
| **Daily Production Volumes** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total US (MBOE/D) |  | 904 | 961 | 918 | 952 | 933 | 896 | 919 | 944 | 987 | 937 |
| &nbsp;&nbsp;&nbsp;&nbsp;US Oil (MBBL/D) |  | 488 | 517 | 483 | 506 | 498 | 483 | 495 | 508 | 542 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide - Reported (MBOE/D) |  | 1139 | 1225 | 1176 | 1192 | 1183 | 1079 | 1147 | 1180 | 1227 | 1159 |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide - Continuing Operations (MBOE/D) |  | 1117 | 1203 | 1160 | 1189 | 1167 | 1079 | 1147 | 1180 | 1227 | 1159 |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide Sales - Continuing Operations (MBOE/D) |  | 1113 | 1199 | 1158 | 1193 | 1166 | 1074 | 1150 | 1179 | 1230 | 1159 |
| **Commodity Price Realizations** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide oil ($/BBL) |  | $55.65 | $64.18 | $68.74 | $75.39 | $66.14 | $91.91 | $107.72 | $94.89 | $83.64 | $94.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide NGL ($/BOE) |  | $23.44 | $25.06 | $34.01 | $36.52 | $30.01 | $39.61 | $42.04 | $35.22 | $26.35 | $35.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic gas ($/MCF) |  | $2.56 | $2.59 | $3.35 | $4.64 | $3.30 | $4.17 | $6.25 | $7.06 | $4.45 | $5.48 |
| **Cash Flows - Continuing Operations ($ millions)** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating cash flow before working capital (Non-GAAP) | (c) | $2135 | $2710 | $2967 | $3867 | $11679 | $4178 | $5148 | $4700 | $4109 | $18135 |
| &nbsp;&nbsp;&nbsp;&nbsp;Working capital changes |  | $(1347) | $614 | $(57) | $(636) | $(1426) | $(939) | $181 | $(433) | $(134) | $(1325) |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating cash flow |  | $788 | $3324 | $2910 | $3231 | $10253 | $3239 | $5329 | $4267 | $3975 | $16810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures |  | $(579) | $(698) | $(656) | $(937) | $(2870) | $(858) | $(972) | $(1147) | $(1520) | $(4497) |
|  |  | **2021** | **2021** | **2021** | **2021** |  | **2022** | **2022** | **2022** | **2022** |  |
| **<u>Year-to-date</u>** |  | **Mar** | **Jun** | **Sep** | **Dec** |  | **Mar** | **Jun** | **Sep** | **Dec** |  |
| **Net Income (Loss) ($ millions)** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Reported income (loss) attributable to common stockholders |  | $(346) | $(443) | $185 | $1522 |  | $4676 | $8231 | $10777 | $12504 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Reported EPS - Diluted ($/share) |  | $(0.36) | $(0.47) | $0.19 | $1.58 |  | $4.65 | $8.11 | $10.64 | $12.40 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Effective tax rate on reported income (loss) (%) |  | 1% | 13% | 27% | 25% |  | (58)% | (7)% | 3% | 6% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted income (loss) attributable to common stockholders (Non-GAAP) | (a) | $(136) | $175 | $1011 | $2459 |  | $2127 | $5367 | $7832 | $9432 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted EPS - Diluted (Non-GAAP) ($/share) | (b) | $(0.15) | $0.18 | $1.05 | $2.55 |  | $2.12 | $5.29 | $7.74 | $9.35 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Effective tax rate on adjusted income (loss) (%) |  | (327)% | 24% | 28% | 27% |  | 25% | 25% | 25% | 25% |  |
| **Average Shares Outstanding - Reported Income** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic (millions) |  | 933.1 | 933.8 | 934.4 | 935.0 |  | 936.7 | 933.8 | 933.0 | 926.2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted (millions) |  | 947.9 | 933.8 | 954.2 | 958.8 |  | 997.7 | 1007.5 | 1005.9 | 1002.0 |  |
| **Average Shares Outstanding - Adjusted Income** | (b) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic (millions) |  | 933.1 | 933.8 | 934.4 | 935.0 |  | 936.7 | 938.3 | 933.0 | 926.2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted (millions) |  | 933.1 | 952.4 | 954.2 | 958.8 |  | 997.7 | 1007.5 | 1005.9 | 1002.0 |  |
| **Daily Production Volumes** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total US (MBOE/D) |  | 904 | 932 | 927 | 933000000 |  | 896 | 907 | 920 | 937 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;US Oil (MBBL/D) |  | 488 | 502 | 496 | 498 |  | 483 | 489 | 495 | 507 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide - Reported (MBOE/D) |  | 1139 | 1182 | 1180 | 1183000000 |  | 1079 | 1113 | 1136 | 1159 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide - Continuing Operations (MBOE/D) |  | 1117 | 1160 | 1160 | 1167000000 |  | 1079 | 1113 | 1136 | 1159 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide Sales - Continuing Operations (MBOE/D) |  | 1113 | 1156 | 1157 | 1166 |  | 1074 | 1112 | 1135 | 1159 |  |
| **Commodity Price Realizations** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide Oil ($/BBL) |  | $55.65 | $60.05 | $62.94 | $66.14 |  | $91.91 | $100.10 | $98.30 | $94.36 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Worldwide NGL ($/BOE) |  | $23.44 | $24.31 | $27.68 | $30.01 |  | $39.61 | $40.90 | $38.85 | $35.48 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic Gas ($/MCF) |  | $2.56 | $2.58 | $2.84 | $3.30 |  | $4.17 | $5.20 | $5.83 | $5.48 |  |
| **Cash Flows - Continuing Operations ($ millions)** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating cash flows before working capital (Non-GAAP) | (c) | $2135 | $4845 | $7812 | $11679 |  | $4178 | $9326 | $14026 | $18135 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Working capital changes |  | $(1347) | $(733) | $(790) | $(1426) |  | $(939) | $(758) | $(1191) | $(1325) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating cash flow |  | $788 | $4112 | $7022 | $10253 |  | $3239 | $8568 | $12835 | $16810 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures |  | (579) | (1277) | (1933) | (2870) |  | (858) | (1830) | (2977) | (4497) |  |
| (a) See schedule 3 for non-GAAP reconciliation. |  |  |  |  |  |  |  |  |  |  |  |
| (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. | (b) See schedule 4 for Non-GAAP reconciliation. The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common shares since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common shares as their effect is anti-dilutive since Occidental generated net losses from continuing operations. |
| (c) See schedule 7 for non-GAAP reconciliation. |  |  |  |  |  |  |  |  |  |  |  |

---

------

**SCHEDULE 2**

**Occidental Petroleum Corporation** 

**Items Affecting Comparability Detail** 

(amounts in millions)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| **<u>Before Tax Allocations</u>** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| **Oil & Gas** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairments | $(135) | $(21) | $(17) | $(109) | $(282) | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales gains, net |  |  | 14 | 13 | 27 | 125 | 12 | 10 | 1 | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil, gas and CO2 derivative losses, net | (40) | (140) | (97) | (3) | (280) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Domestic | (175) | (161) | (100) | (99) | (535) | 125 | 12 | 10 | 1 | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales gains (losses), net |  |  | (12) | 55 | 43 |  | 10 |  | 45 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total International |  |  | (12) | 55 | 43 |  | 10 |  | 45 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Oil and Gas | (175) | (161) | (112) | (44) | (492) | 125 | 22 | 10 | 46 | 203 |
| **Chemical** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No items affecting comparability |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Chemical |  |  |  |  |  |  |  |  |  |  |
| **Midstream & Marketing** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales gains, net | 102 | 22 |  |  | 124 |  |  | 62 | 36 | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairments |  |  |  | (21) | (21) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative gains (losses), net | 15 | (180) | (11) | (76) | (252) | (198) | 96 | (84) | (73) | (259) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Midstream & Marketing | 117 | (158) | (11) | (97) | (149) | (198) | 96 | (22) | (37) | (161) |
| **Corporate** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anadarko acquisition-related costs | (41) | (52) | (29) | (31) | (153) | (65) | (13) | (4) | (7) | (89) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swap gains (losses), net | 399 | (223) | (26) | (28) | 122 | 135 | 127 | 70 | (15) | 317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maxus environmental reserve adjustment |  |  |  |  |  |  | (22) |  |  | (22) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early debt extinguishment |  |  | (88) | (30) | (118) | (18) | 179 | (18) | 6 | 149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Corporate | 358 | (275) | (143) | (89) | (149) | 52 | 271 | 48 | (16) | 355 |
| Income tax impact of legal entity reorganization |  |  |  |  |  | 2594 |  |  | 123 | 2717 |
| Foreign entity reorganization tax benefit |  |  |  |  |  |  |  | 42 |  | 42 |
| Exploration license expiration tax benefit |  |  |  |  |  |  | 13 | 10 |  | 23 |
| State tax rate revaluation |  | 55 |  | 88 | 143 | (29) |  |  |  | (29) |
| Income taxes | (65) | 128 | 60 | 55 | 178 | 5 | (87) | (7) | 11 | (78) |
| Income (loss) from continuing operations | 235 | (411) | (206) | (87) | (469) | 2549 | 315 | 81 | 127 | 3072 |
| Discontinued operations, net of taxes (a) | (445) | 3 | (2) | (24) | (468) |  |  |  |  |  |
| Total | $(210) | $(408) | $(208) | $(111) | $(937) | $2549 | $315 | $81 | $127 | $3072 |
|  | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| **<u>After Tax Allocations</u>** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| **Oil & Gas** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairments | $(106) | $(16) | $(12) | $(90) | $(224) | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales gains, net |  |  | 11 | 10 | 21 | 98 | 9 | 8 |  | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil, gas and CO2 derivative losses, net | (31) | (110) | (75) | (2) | (218) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Domestic | (137) | (126) | (76) | (82) | (421) | 98 | 9 | 8 |  | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales gains (losses), net | 0 | 0 | -12 | 55 | 43 | 0 | 6 | 0 | 46 | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total International |  |  | (12) | 55 | 43 |  | 6 |  | 46 | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Oil and Gas | (137) | (126) | (88) | (27) | (378) | 98 | 15 | 8 | 46 | 167 |
| **Chemical** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No items affecting comparability |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Chemical | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| **Midstream & Marketing** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset sales gains (losses), net | 79 | 17 | 1 | (2) | 95 |  |  | 49 | 28 | 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairments | 0 | 0 | 0 | -16 | -16 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative gains (losses), net | 12 | -141 | -8 | -60 | -197 | -155 | 75 | -66 | -57 | -203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Midstream & Marketing | 91 | (124) | (7) | (78) | (118) | (155) | 75 | (17) | (29) | (126) |
| **Corporate** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anadarko acquisition-related costs | (31) | (41) | (23) | (26) | (121) | (51) | (10) | (3) | (6) | (70) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swap gains (losses), net | 312 | -175 | -19 | -21 | 97 | 106 | 99 | 55 | -12 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maxus environmental reserve adjustment | 0 | 0 | 0 | 0 | 0 | 0 | -17 | 0 | 0 | -17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early debt extinguishment |  |  | (69) | (23) | (92) | (14) | 140 | (14) | 5 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Corporate | 281 | (216) | (111) | (70) | (116) | 41 | 212 | 38 | (13) | 278 |
| Income tax impact of legal entity reorganization |  |  |  |  |  | 2594 |  |  | 123 | 2717 |
| Foreign entity reorganization tax benefit |  |  |  |  |  |  |  | 42 |  | 42 |
| Exploration license expiration tax benefit |  |  |  |  |  |  | 13 | 10 |  | 23 |
| State tax rate revaluation |  | 55 |  | 88 | 143 | (29) |  |  |  | (29) |
| Income (loss) from continuing operations | 235 | (411) | (206) | (87) | (469) | 2549 | 315 | 81 | 127 | 3072 |
| Discontinued operations, net of taxes | (445) | 3 | (2) | (24) | (468) |  |  |  |  |  |
| Total | $(210) | $(408) | $(208) | $(111) | $(937) | $2549 | $315 | $81 | $127 | $3072 |

---

------

**SCHEDULE 3**

**Occidental Petroleum Corporation** 

**Segment Results <u>Before</u> Tax Allocations**

(amounts in millions, except per share and effective tax rate amounts)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| **<u>Reported Income (Loss)</u>** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| Oil & Gas |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic | $(214) | $367 | $1078 | $1669 | $2900 | $2546 | $3322 | $2646 | $1925 | $10439 |
| &nbsp;&nbsp;&nbsp;&nbsp;International | 180 | 350 | 420 | 547 | 1497 | 377 | 798 | 746 | 659 | 2580 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exploration | (28) | (86) | (31) | (107) | (252) | (25) | (26) | (47) | (118) | (216) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Oil & Gas | (62) | 631 | 1467 | 2109 | 4145 | 2898 | 4094 | 3345 | 2466 | 12803 |
| Chemical | 251 | 312 | 407 | 574 | 1544 | 671 | 800 | 580 | 457 | 2508 |
| Midstream & Marketing | 282 | (30) | 20 | (15) | 257 | (50) | 264 | 104 | (45) | 273 |
| &nbsp;&nbsp;&nbsp;&nbsp;Segment income | 471 | 913 | 1894 | 2668 | 5946 | 3519 | 5158 | 4029 | 2878 | 15584 |
| Corporate |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest | (395) | (385) | (449) | (385) | (1614) | (371) | (114) | (285) | (260) | (1030) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 239 | (385) | (228) | (253) | (627) | (65) | (58) | (96) | (218) | (437) |
| Income from continuing operations before taxes | 315 | 143 | 1217 | 2030 | 3705 | 3083 | 4986 | 3648 | 2400 | 14117 |
| Taxes |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal and state | 102 | 8 | (151) | (206) | (247) | 2037 | (916) | (599) | (274) | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;International | (118) | (51) | (236) | (263) | (668) | (244) | (315) | (303) | (199) | (1061) |
| Income from continuing operations | 299 | 100 | 830 | 1561 | 2790 | 4876 | 3755 | 2746 | 1927 | 13304 |
| Discontinued operations, net of taxes | (445) | 3 | (2) | (24) | (468) |  |  |  |  |  |
| Net income (loss) | (146) | 103 | 828 | 1537 | 2322 | 4876 | 3755 | 2746 | 1927 | 13304 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred stock dividends | (200) | (200) | (200) | (200) | (800) | (200) | (200) | (200) | (200) | (800) |
| Net income (loss) attributable to common stockholders | $(346) | $(97) | $628 | $1337 | $1522 | $4676 | $3555 | $2546 | $1727 | $12504 |
| Reported diluted income (loss) per share | $(0.36) | $(0.10) | $0.65 | $1.37 | $1.58 | $4.65 | $3.47 | $2.52 | $1.74 | $12.40 |
| Effective Tax Rate | 5% | 30% | 32% | 23% | 25% | (58)% | 25% | 25% | 20% | 6% |
| **<u>Items Affecting Comparability</u>** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| Oil & Gas |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic | $(175) | $(161) | $(100) | $(99) | $(535) | $125 | $12 | $10 | $1 | $148 |
| &nbsp;&nbsp;&nbsp;&nbsp;International |  |  | (12) | 55 | 43 |  | 10 |  | 45 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exploration |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Oil & Gas | (175) | (161) | (112) | (44) | (492) | 125 | 22 | 10 | 46 | 203 |
| Chemical |  |  |  |  |  |  |  |  |  |  |
| Midstream & Marketing | 117 | (158) | (11) | (97) | (149) | (198) | 96 | (22) | (37) | (161) |
| Segment income (loss) | (58) | (319) | (123) | (141) | (641) | (73) | 118 | (12) | 9 | 42 |
| Corporate |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest |  |  | (88) | (30) | (118) | (18) | 179 | (18) | 6 | 149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 358 | (275) | (55) | (59) | (31) | 70 | 92 | 66 | (22) | 206 |
| Income (loss) from continuing operations before taxes | 300 | (594) | (266) | (230) | (790) | (21) | 389 | 36 | (7) | 397 |
| Taxes |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal and state | (65) | 183 | 60 | 143 | 321 | 2570 | (70) | 45 | 133 | 2678 |
| &nbsp;&nbsp;&nbsp;&nbsp;International |  |  |  |  |  |  | (4) |  | 1 | (3) |
| Income (loss) from continuing operations | 235 | (411) | (206) | (87) | (469) | 2549 | 315 | 81 | 127 | 3072 |
| Discontinued operations, net of taxes | (445) | 3 | (2) | (24) | (468) |  |  |  |  |  |
| Net loss | (210) | (408) | (208) | (111) | (937) | 2549 | 315 | 81 | 127 | 3072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred stock dividends |  |  |  |  |  |  |  |  |  |  |
| Net income (loss) attributable to common stockholders | $(210) | $(408) | $(208) | $(111) | $(937) | $2549 | $315 | $81 | $127 | $3072 |
| **<u>Adjusted Income (Loss) (Non-GAAP) (a)</u>** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| Oil & Gas |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic | $(39) | $528 | $1178 | $1768 | $3435 | $2421 | $3310 | $2636 | $1924 | $10291 |
| &nbsp;&nbsp;&nbsp;&nbsp;International | 180 | 350 | 432 | 492 | 1454 | 377 | 788 | 746 | 614 | 2525 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exploration | (28) | (86) | (31) | (107) | (252) | (25) | (26) | (47) | (118) | (216) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Oil & Gas | 113 | 792 | 1579 | 2153 | 4637 | 2773 | 4072 | 3335 | 2420 | 12600 |
| Chemical | 251 | 312 | 407 | 574 | 1544 | 671 | 800 | 580 | 457 | 2508 |
| Midstream & Marketing | 165 | 128 | 31 | 82 | 406 | 148 | 168 | 126 | (8) | 434 |
| Adjusted segment income | 529 | 1232 | 2017 | 2809 | 6587 | 3592 | 5040 | 4041 | 2869 | 15542 |
| Corporate |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest | (395) | (385) | (361) | (355) | (1496) | (353) | (293) | (267) | (266) | (1179) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (119) | (110) | (173) | (194) | (596) | (135) | (150) | (162) | (196) | (643) |
| Adjusted income from continuing operations before taxes | 15 | 737 | 1483 | 2260 | 4495 | 3104 | 4597 | 3612 | 2407 | 13720 |
| Taxes |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal and state | 167 | (175) | (211) | (349) | (568) | (533) | (846) | (644) | (407) | (2430) |
| &nbsp;&nbsp;&nbsp;&nbsp;International | (118) | (51) | (236) | (263) | (668) | (244) | (311) | (303) | (200) | (1058) |
| Adjusted income | 64 | 511 | 1036 | 1648 | 3259 | 2327 | 3440 | 2665 | 1800 | 10232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred stock dividends | (200) | (200) | (200) | (200) | (800) | (200) | (200) | (200) | (200) | (800) |
| Adjusted income (loss) attributable to common stockholders | $(136) | $311 | $836 | $1448 | $2459 | $2127 | $3240 | $2465 | $1600 | $9432 |
| Adjusted diluted earnings (loss) per share (Non-GAAP) | $(0.15) | $0.32 | $0.87 | $1.48 | $2.55 | $2.12 | $3.16 | $2.44 | $1.61 | $9.35 |
| Effective Tax Rate | (327)% | 31% | 30% | 27% | 27% | 25% | 25% | 26% | 25% | 25% |

---

(a) Non-GAAP Measure Adjusted income is a non-GAAP measure. Occidental defines adjusted income as net income excluding the effects of significant transactions and events that affect earnings but vary widely and unpredictably in nature, timing and amount. These events may recur, even across successive reporting periods. This non-GAAP measure is not meant to disassociate those items from management's performance, but rather is meant to provide useful information to investors interested in comparing Occidental's earnings performance between periods. Reported net income is considered representative of management's performance over the long term, and adjusted income is not considered to be an alternative to net income reported in accordance with GAAP.

------

**SCHEDULE 4**

**Occidental Petroleum Corporation** 

**Segment Results <u>After</u> Tax Allocations**

(Amounts in millions, except per share and effective tax rate amounts)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| **<u>Reported Income (Loss)</u>** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| Oil & Gas |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic | $(167) | $286 | $841 | $1302 | $2262 | $1986 | $2591 | $2065 | $1501 | $8143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | 69 | 193 | 252 | 339 | 853 | 184 | 466 | 459 | 448 | 1557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration | (23) | (72) | (26) | (96) | (217) | (23) | (24) | (37) | (102) | (186) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Oil & Gas | (121) | 407 | 1067 | 1545 | 2898 | 2147 | 3033 | 2487 | 1847 | 9514 |
| Chemical | 193 | 240 | 314 | 440 | 1187 | 519 | 620 | 449 | 348 | 1936 |
| Midstream & Marketing | 251 | (3) | 35 | 5 | 288 | (70) | 247 | 83 | (25) | 235 |
| Segment income | 323 | 644 | 1416 | 1990 | 4373 | 2596 | 3900 | 3019 | 2170 | 11685 |
| Corporate |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | (395) | (385) | (449) | (385) | (1614) | (367) | (114) | (285) | (260) | (1026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 162 | (271) | (228) | (253) | (590) | (65) | (104) | (96) | (218) | (483) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes | 209 | 112 | 91 | 209 | 621 | 2712 | 73 | 108 | 235 | 3128 |
| Income from continuing operations | 299 | 100 | 830 | 1561 | 2790 | 4876 | 3755 | 2746 | 1927 | 13304 |
| Discontinued operations, net of taxes | (445) | 3 | (2) | (24) | (468) |  |  |  |  |  |
| Net income (loss) | (146) | 103 | 828 | 1537 | 2322 | 4876 | 3755 | 2746 | 1927 | 13304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred stock dividends | (200) | (200) | (200) | (200) | (800) | (200) | (200) | (200) | (200) | (800) |
| Net income (loss) attributable to common stockholders | $(346) | $(97) | $628 | $1337 | $1522 | $4676 | $3555 | $2546 | $1727 | $12504 |
| Reported diluted income (loss) per share | $(0.36) | $(0.10) | $0.65 | $1.37 | $1.58 | $4.65 | $3.47 | $2.52 | $1.74 | $12.40 |
| **<u>Items Affecting Comparability</u>** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| Oil & Gas |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic | $(137) | $(126) | $(76) | $(82) | $(421) | $98 | $9 | $8 | $— | $115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International |  |  | (12) | 55 | 43 |  | 6 |  | 46 | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Oil & Gas | (137) | (126) | (88) | (27) | (378) | 98 | 15 | 8 | 46 | 167 |
| Chemical |  |  |  |  |  |  |  |  |  |  |
| Midstream & Marketing | 91 | (124) | (7) | (78) | (118) | (155) | 75 | (17) | (29) | (126) |
| Segment income (loss) | (46) | (250) | (95) | (105) | (496) | (57) | 90 | (9) | 17 | 41 |
| Corporate |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest |  |  | (69) | (23) | (92) | (14) | 140 | (14) | 5 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 281 | (216) | (42) | (47) | (24) | 55 | 72 | 52 | (18) | 161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes |  | 55 |  | 88 | 143 | 2565 | 13 | 52 | 123 | 2753 |
| Income (loss) from continuing operations | 235 | (411) | (206) | (87) | (469) | 2549 | 315 | 81 | 127 | 3072 |
| Discontinued operations, net of taxes | (445) | 3 | (2) | (24) | (468) |  |  |  |  |  |
| Net income (loss) | (210) | (408) | (208) | (111) | (937) | 2549 | 315 | 81 | 127 | 3072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred stock dividends |  |  |  |  |  |  |  |  |  |  |
| Net income (loss) attributable to common stockholders | $(210) | $(408) | $(208) | $(111) | $(937) | $2549 | $315 | $81 | $127 | $3072 |
| **<u>Adjusted Income (Loss) (Non-GAAP)</u>** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| Oil & Gas |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic | $(30) | $412 | $917 | $1384 | $2683 | $1888 | $2582 | $2057 | $1501 | $8028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | 69 | 193 | 264 | 284 | 810 | 184 | 460 | 459 | 402 | 1505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration | (23) | (72) | (26) | (96) | (217) | (23) | (24) | (37) | (102) | (186) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Oil & Gas | 16 | 533 | 1155 | 1572 | 3276 | 2049 | 3018 | 2479 | 1801 | 9347 |
| Chemical | 193 | 240 | 314 | 440 | 1187 | 519 | 620 | 449 | 348 | 1936 |
| Midstream & Marketing | 160 | 121 | 42 | 83 | 406 | 85 | 172 | 100 | 4 | 361 |
| Segment income | 369 | 894 | 1511 | 2095 | 4869 | 2653 | 3810 | 3028 | 2153 | 11644 |
| Corporate |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | (395) | (385) | (380) | (362) | (1522) | (353) | (254) | (271) | (265) | (1143) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (119) | (55) | (186) | (206) | (566) | (120) | (176) | (148) | (200) | (644) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes | 209 | 57 | 91 | 121 | 478 | 147 | 60 | 56 | 112 | 375 |
| Income from continuing operations | 64 | 511 | 1036 | 1648 | 3259 | 2327 | 3440 | 2665 | 1800 | 10232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred stock dividends | (200) | (200) | (200) | (200) | (800) | (200) | (200) | (200) | (200) | (800) |
| Adjusted income (loss) attributable to common stockholders | $(136) | $311 | $836 | $1448 | $2459 | $2127 | $3240 | $2465 | $1600 | $9432 |
| Adjusted diluted earnings (loss) per share (Non-GAAP) | $(0.15) | $0.32 | $0.87 | $1.48 | $2.55 | $2.12 | $3.16 | $2.44 | $1.61 | $9.35 |
| **<u>Reconciliation - Diluted Earnings (Loss) Per Share (a)</u>** |  |  |  |  |  |  |  |  |  |  |
| **Reported Diluted Earnings (Loss) Per Share (GAAP)** | $(0.36) | $(0.10) | $0.65 | $1.37 | $1.58 | $4.65 | $3.47 | $2.52 | $1.74 | $12.40 |
| After-Tax Adjustments for Items Affecting Comparability |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil & Gas |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic | $(0.14) | $(0.13) | $(0.08) | $(0.08) | $(0.43) | $0.09 | $0.01 | $0.01 | $— | $0.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International |  |  | (0.01) | 0.06 | 0.04 |  | 0.01 |  | 0.05 | 0.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chemical |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midstream & Marketing | 0.10 | (0.13) | (0.01) | (0.08) | (0.12) | (0.16) | 0.08 | (0.02) | (0.03) | (0.13) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest |  |  | (0.07) | (0.02) | (0.09) | (0.02) | 0.14 | (0.01) | 0.01 | 0.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 0.30 | (0.22) | (0.04) | (0.06) | (0.03) | 0.05 | 0.07 | 0.05 | (0.02) | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes |  | 0.06 |  | 0.09 | 0.15 | 2.57 |  | 0.05 | 0.12 | 2.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discontinued Operations | (0.47) |  |  | (0.02) | (0.49) |  |  |  |  |  |
| Total After-Tax Adjustments for Items Affecting Comparability | $(0.21) | $(0.42) | $(0.21) | $(0.11) | $(0.97) | $2.53 | $0.31 | $0.08 | $0.13 | $3.05 |
| **Adjusted Diluted Earnings (Loss) Per Share (Non-GAAP)** | $(0.15) | $0.32 | $0.86 | $1.48 | $2.55 | $2.12 | $3.16 | $2.44 | $1.61 | $9.35 |
| Average Diluted Shares Outstanding - Reported (millions) | 947.9 | 934.2 | 957.7 | 972.7 | 958.8 | 997.7 | 1018.3 | 1002.5 | 990.5 | 1002.0 |

---

(a) The adjusted diluted EPS (Non-GAAP) calculations include the dilutive effect of potential common stocks since Occidental generated adjusted income for the three and six months ended June 30, 2021. For the three and six months ended June 30, 2021, dilutive securities for adjusted diluted EPS were 22.6 million and 18.6 million, respectively, resulting in total dilutive weighted-average shares of 956.8 million and 952.4 million shares, respectively. The reported EPS (GAAP) calculations do not include dilutive effect of potential common stocks as their effect is anti-dilutive since Occidental generated net losses from continuing operations.

------

**SCHEDULE 5**

**Occidental Petroleum Corporation** 

**Consolidated Condensed Statements of Operations**

(amounts in millions, except per-share amounts)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| **REVENUES AND OTHER INCOME** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net sales |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil & Gas | $5060 | $2040 | $2989 | $2977 | $13066 | $6075 | $7696 | $7098 | $6296 | $27165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chemical | 962 | 846 | 937 | 988 | 3733 | 1684 | 1909 | 1691 | 1473 | 6757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midstream & Marketing | 790 | 204 | 364 | 410 | 1768 | 882 | 1474 | 1005 | 775 | 4136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eliminations | (199) | (162) | (182) | (215) | (758) | (292) | (403) | (404) | (325) | (1424) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 6613 | 2928 | 4108 | 4160 | 17809 | 8349 | 10676 | 9390 | 8219 | 36634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest, dividends and other income | 34 | 33 | 21 | 30 | 118 | 49 | 36 | 37 | 31 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gains (losses) on sale of assets, net | 7 | 15 | (846) | (842) | (1666) | 135 | 23 | 74 | 76 | 308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 6654 | 2976 | 3283 | 3348 | 16261 | 8533 | 10735 | 9501 | 8326 | 37095 |
| **COSTS AND OTHER DEDUCTIONS** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil and gas operating expense | 776 | 712 | 829 | 843 | 3160 | 864 | 1005 | 1056 | 1103 | $4028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transportation and gathering expense | 329 | 364 | 360 | 366 | 1419 | 347 | 364 | 378 | 386 | 1475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chemical and midstream costs of sales | 594 | 676 | 731 | 771 | 2772 | 818 | 835 | 835 | 785 | 3273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchased commodities | 558 | 487 | 588 | 675 | 2308 | 811 | 1031 | 785 | 660 | 3287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 166 | 177 | 240 | 280 | 863 | 196 | 244 | 247 | 258 | 945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating and non-operating expense | 258 | 248 | 256 | 303 | 1065 | 299 | 291 | 319 | 362 | 1271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes other than on income | 210 | 244 | 289 | 262 | 1005 | 335 | 426 | 427 | 360 | 1548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation, depletion and amortization | 2194 | 2371 | 1916 | 1966 | 8447 | 1643 | 1728 | 1736 | 1819 | 6926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairments and other charges | 135 | 21 | 17 | 131 | 304 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anadarko acquisition-related costs | 41 | 52 | 29 | 31 | 153 | 65 | 13 | 4 | 7 | 89 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration expense | 28 | 86 | 31 | 107 | 252 | 25 | 26 | 47 | 118 | 216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense, net | 395 | 385 | 449 | 385 | 1614 | 371 | 114 | 285 | 260 | 1030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 5684 | 5823 | 5735 | 6120 | 23362 | 5774 | 6077 | 6119 | 6118 | 24088 |
| **INCOME (LOSS) BEFORE INCOME TAXES AND OTHER ITEMS** | (205) | 187 | 1080 | 1890 | 2952 | 2759 | 4658 | 3382 | 2208 | 13007 |
| **OTHER ITEMS** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gains (losses) on interest rate swaps and warrants, net | 399 | (223) | (26) | (28) | 122 | 135 | 127 | 70 | (15) | 317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from equity investments | 121 | 179 | 163 | 168 | 631 | 189 | 201 | 196 | 207 | 793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 520 | (44) | 137 | 140 | 753 | 324 | 328 | 266 | 192 | 1110 |
| **INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES** | 315 | 143 | 1217 | 2030 | 3705 | 3083 | 4986 | 3648 | 2400 | 14117 |
| Income tax benefit (expense) | (16) | (43) | (387) | (469) | (915) | 1793 | (1231) | (902) | (473) | (813) |
| **INCOME FROM CONTINUING OPERATIONS** | 299 | 100 | 830 | 1561 | 2790 | 4876 | 3755 | 2746 | 1927 | 13304 |
| Discontinued operations, net of taxes | (445) | 3 | (2) | (24) | (468) |  |  |  |  |  |
| **NET INCOME (LOSS)** | (146) | 103 | 828 | 1537 | 2322 | 4876 | 3755 | 2746 | 1927 | 13304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred stock dividend | (200) | (200) | (200) | (200) | (800) | (200) | (200) | (200) | (200) | (800) |
| **NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS** | $(346) | $(97) | $628 | $1337 | $1522 | $4676 | $3555 | $2546 | $1727 | 12504 |
| **EARNINGS PER SHARE** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**BASIC EARNINGS (LOSS) PER COMMON SHARE** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from continuing operations | $0.11 | $(0.11) | $0.67 | $1.44 | $2.12 | $4.96 | $3.76 | $2.74 | $1.90 | $13.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discontinued operations, net | (0.48) | 0.01 |  | (0.02) | (0.50) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**BASIC EARNINGS (LOSS) PER COMMON SHARE** | $(0.37) | $(0.10) | $0.67 | $1.42 | $1.62 | $4.96 | $3.76 | $2.74 | $1.90 | $13.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;**DILUTED EARNINGS (LOSS) PER COMMON SHARE** | $(0.36) | $(0.10) | $0.65 | $1.37 | $1.58 | $4.65 | $3.47 | $2.52 | $1.74 | $12.40 |
| **DIVIDENDS PER COMMON SHARE** | $0.01 | $0.01 | $0.01 | $0.01 | $0.04 | $0.13 | $0.13 | $0.13 | $0.13 | $0.52 |
| **AVERAGE COMMON SHARES OUTSTANDING** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BASIC | 933.1 | 934.2 | 935.4 | 936.5 | 935.0 | 936.7 | 939.2 | 922.0 | 905.7 | 926.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DILUTED | 947.9 | 934.2 | 957.7 | 972.7 | 958.8 | 997.7 | 1018.3 | 1002.5 | 990.5 | 1002.0 |
| **INCOME TAX BENEFIT (EXPENSE)** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| &nbsp;&nbsp;&nbsp;&nbsp;**CURRENT** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal | 30 | (30) | (170) | (3) | (173) | (215) | (640) | (297) | (120) | (1272) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State and local | (10) | 21 | (23) | (24) | (36) | (34) | (50) | (43) | 22 | (105) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | (117) | (165) | (174) | (204) | (660) | (198) | (338) | (290) | (254) | (1080) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | (97) | (174) | (367) | (231) | (869) | (447) | (1028) | (630) | (352) | (2457) |
| &nbsp;&nbsp;&nbsp;&nbsp;**DEFERRED** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal | 78 | (62) | 19 | (226) | (191) | 2213 | (231) | (264) | (150) | 1568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State and local | 4 | 79 | 23 | 47 | 153 | 73 | 5 | 5 | (26) | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | (1) | 114 | (62) | (59) | (8) | (46) | 23 | (13) | 55 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 81 | 131 | (20) | (238) | (46) | 2240 | (203) | (272) | (121) | 1644 |
| **TOTAL INCOME TAX BENEFIT (EXPENSE)** | (16) | (43) | (387) | (469) | (915) | 1793 | (1231) | (902) | (473) | (813) |

---

------

**SCHEDULE 6**

**Occidental Petroleum Corporation**

**Consolidated Condensed Balance Sheets**

(amounts in millions)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** |
| | **MAR** | **JUN** | **SEP** | **DEC** | **MAR** | **JUN** | **SEP** | **DEC** |
| **CURRENT ASSETS** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $2270 | $4569 | $2059 | $2764 | $1909 | $1362 | $1233 | $984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade receivables, net | 3046 | 3288 | 3477 | 4208 | 5434 | 6350 | 4046 | 4281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 2173 | 1837 | 1773 | 1846 | 1406 | 1564 | 1937 | 2059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets held for sale | 1249 | 1774 | 1098 | 72 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 1336 | 1376 | 1492 | 1321 | 1309 | 1132 | 1533 | 1562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 10074 | 12844 | 9899 | 10211 | 10058 | 10408 | 8749 | 8886 |
| **INVESTMENTS IN UNCONSOLIDATED ENTITIES** | 3170 | 3249 | 3266 | 2938 | 3015 | 3328 | 3156 | 3176 |
| **PROPERTY, PLANT AND EQUIPMENT** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross property, plant and equipment | 119278 | 116566 | 117192 | 118157 | 117542 | 118301 | 119454 | 120734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated depreciation, depletion and amortization | (55205) | (54720) | (56548) | (58227) | (58313) | (59728) | (61183) | (62350) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net property, plant and equipment | 64073 | 61846 | 60644 | 59930 | 59229 | 58573 | 58271 | 58384 |
| **OPERATING LEASE ASSETS** | 949 | 860 | 804 | 726 | 689 | 721 | 825 | 903 |
| **LONG-TERM RECEIVABLES AND OTHER ASSETS, NET** | 1089 | 1138 | 1145 | 1231 | 1231 | 1191 | 1143 | 1260 |
| **TOTAL ASSETS** | $79355 | $79937 | $75758 | $75036 | $74222 | $74221 | $72144 | $72609 |
| **CURRENT LIABILITIES** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current maturities of long-term debt | $559 | $651 | $780 | $186 | $507 | $459 | $546 | $165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current operating lease liabilities | 369 | 331 | 265 | 186 | 173 | 178 | 248 | 273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 3416 | 3544 | 3713 | 3899 | 4664 | 5197 | 3715 | 4029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 3566 | 4325 | 3654 | 4046 | 3356 | 3896 | 3426 | 3290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities of assets held for sale | 721 | 735 | 714 | 7 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 8631 | 9586 | 9126 | 8324 | 8700 | 9730 | 7935 | 7757 |
| **LONG-TERM DEBT, NET** | 35466 | 35352 | 30915 | 29431 | 25865 | 21743 | 20478 | 19670 |
| **DEFERRED CREDITS AND OTHER LIABILITIES** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes, net | 6941 | 6808 | 6825 | 7039 | 4806 | 5020 | 5304 | 5512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset retirement obligations | 4030 | 3949 | 3942 | 3687 | 3634 | 3600 | 3553 | 3636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension and postretirement obligations | 1553 | 1551 | 1595 | 1540 | 1541 | 1513 | 1427 | 1055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental remediation liabilities | 1029 | 1020 | 1000 | 944 | 933 | 918 | 893 | 905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | 628 | 583 | 593 | 585 | 558 | 589 | 616 | 657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 2777 | 2844 | 2889 | 3159 | 3278 | 3278 | 3218 | 3332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred credits and other liabilities | 16958 | 16755 | 16844 | 16954 | 14750 | 14918 | 15011 | 15097 |
| **EQUITY** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, $1.00 per share par value | 9762 | 9762 | 9762 | 9762 | 9762 | 9762 | 9762 | 9762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.20 per share par value | 217 | 217 | 217 | 217 | 217 | 218 | 220 | 220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury stock | (10668) | (10668) | (10668) | (10673) | (10709) | (11391) | (13192) | (13772) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 16585 | 16638 | 16692 | 16749 | 16785 | 16914 | 17129 | 17181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 2639 | 2533 | 3152 | 4480 | 9032 | 12462 | 14888 | 16499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss) | (235) | (238) | (282) | (208) | (180) | (135) | (87) | 195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity | 18300 | 18244 | 18873 | 20327 | 24907 | 27830 | 28720 | 30085 |
| **TOTAL LIABILITIES AND EQUITY** | $79355 | $79937 | $75758 | $75036 | $74222 | $74221 | $72144 | $72609 |

---

------

**SCHEDULE 7**

**Occidental Petroleum Corporation**

**Consolidated Condensed Statements of Cash Flows and Detail of CAPEX and DD&A**

(amounts in millions)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| **OPERATING CASH FLOW FROM CONTINUING OPERATIONS** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(146) | $103 | $828 | $1537 | $2322 | $4876 | $3755 | $2746 | $1927 | $13304 |
| &nbsp;&nbsp;&nbsp;Depreciation, depletion and amortization (see detail below) | 2194 | 2371 | 1916 | 1966 | 8447 | 1643 | 1728 | 1736 | 1819 | 6926 |
| &nbsp;&nbsp;&nbsp;Deferred income tax provision (benefit) | (81) | (131) | 20 | 238 | 46 | (2240) | 203 | 272 | 121 | (1644) |
| &nbsp;&nbsp;&nbsp;Asset impairments and other non-cash charges, net | 168 | 367 | 203 | 126 | 864 | (101) | (538) | (54) | 242 | (451) |
| &nbsp;&nbsp;**Operating cash flow from continuing operations before<br>&nbsp;&nbsp;&nbsp;&nbsp; working capital (NON-GAAP) (see below) (a)** | 2135 | 2710 | 2967 | 3867 | 11679 | 4178 | 5148 | 4700 | 4109 | 18135 |
| &nbsp;&nbsp;&nbsp;Working capital changes | (1347) | 614 | (57) | (636) | (1426) | (939) | 181 | (433) | (134) | (1325) |
| &nbsp;&nbsp;**Operating cash flow from continuing operations (GAAP)** | **788** | **3324** | **2910** | **3231** | **10253** | **3239** | **5329** | **4267** | **3975** | **16810** |
| **INVESTING CASH FLOW FROM CONTINUING OPERATIONS** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Capital expenditures (see detail below) | (579) | (698) | (656) | (937) | (2870) | (858) | (972) | (1147) | (1520) | (4497) |
| &nbsp;&nbsp;&nbsp;Payments for purchases of assets and businesses | (105) | (8) | (9) | (309) | (431) | (29) | (280) | (157) | (524) | (990) |
| &nbsp;&nbsp;&nbsp;Sales of assets, net | 496 | 7 | 502 | 619 | 1624 | 267 | 57 | 238 | 22 | 584 |
| &nbsp;&nbsp;&nbsp;Changes in capital accrual | (75) | (19) | 11 | 180 | 97 | (39) | (29) | 70 | 145 | 147 |
| &nbsp;&nbsp;&nbsp;Other investing activities | (10) | (17) | 6 | 427 | 406 | (3) | (69) | (23) | (21) | (116) |
| &nbsp;&nbsp;**Investing cash flow from continuing operations** | **(273)** | **(735)** | **(146)** | **(20)** | **(1174)** | **(662)** | **(1293)** | **(1019)** | **(1898)** | **(4872)** |
| **FINANCING CASH FLOW FROM CONTINUING OPERATIONS** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash dividends paid | (211) | (209) | (210) | (209) | (839) | (216) | (323) | (324) | (321) | (1184) |
| &nbsp;&nbsp;&nbsp;Purchases of treasury stock | (3) |  |  | (5) | (8) | (36) | (532) | (1899) | (632) | (3099) |
| &nbsp;&nbsp;&nbsp;Payments of debt | (174) |  | (4381) | (2279) | (6834) | (3259) | (3849) | (1217) | (1159) | (9484) |
| &nbsp;&nbsp;&nbsp;Other financing activities | 36 | (50) | (831) | (38) | (883) | 82 | 118 | 70 | (218) | 52 |
| &nbsp;&nbsp;**Financing cash flow from continuing operations** | **(352)** | **(259)** | **(5422)** | **(2531)** | **(8564)** | **(3429)** | **(4586)** | **(3370)** | **(2330)** | **(13715)** |
| **Cash Flow From Discontinued Operations** | 111 | (32) | 186 | (171) | 94 |  |  |  |  |  |
| Increase (decrease) in cash and cash equivalents and <br>&nbsp;&nbsp;&nbsp;&nbsp; restricted cash and restricted cash equivalents | 274 | 2298 | (2472) | 509 | 609 | (852) | (550) | (122) | (253) | (1777) |
| Cash and cash equivalents and restricted cash and <br>&nbsp;&nbsp;&nbsp;&nbsp; restricted cash equivalents - beginning of period | 2194 | 2468 | 4766 | 2294 | 2194 | 2803 | 1951 | 1401 | 1279 | 2803 |
| **Cash and cash equivalents and restricted cash and <br>&nbsp;&nbsp;&nbsp;&nbsp; cash equivalents - end of period** | $**2468** | $**4766** | $**2294** | $**2803** | $**2803** | $**1951** | $**1401** | $**1279** | $**1026** | $**1026** |
| **Capital Expenditures** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| &nbsp;&nbsp;&nbsp;Oil & Gas | (513) | (599) | (561) | (736) | (2409) | (753) | (849) | (1000) | (1242) | (3844) |
| &nbsp;&nbsp;&nbsp;Chemical | (47) | (67) | (60) | (134) | (308) | (37) | (62) | (68) | (155) | (322) |
| &nbsp;&nbsp;&nbsp;Midstream & Marketing | (17) | (24) | (26) | (39) | (106) | (62) | (47) | (69) | (90) | (268) |
| &nbsp;&nbsp;&nbsp;Corporate | (2) | (8) | (9) | (28) | (47) | (6) | (14) | (10) | (33) | (63) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Capital Expenditures | $(579) | $(698) | $(656) | $(937) | $(2870) | $(858) | $(972) | $(1147) | $(1520) | $(4497) |
| **Depreciation, Depletion and Amortization** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| &nbsp;&nbsp;&nbsp;Oil & Gas |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | $1852 | $2024 | $1561 | $1616 | $7053 | $1347 | $1403 | $1406 | $1452 | $5608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | 166 | 174 | 173 | 174 | 687 | 117 | 143 | 145 | 166 | 571 |
| &nbsp;&nbsp;&nbsp;Chemical | 84 | 84 | 91 | 85 | 344 | 88 | 89 | 90 | 103 | 370 |
| &nbsp;&nbsp;&nbsp;Midstream & Marketing | 82 | 80 | 81 | 82 | 325 | 82 | 83 | 82 | 81 | 328 |
| &nbsp;&nbsp;&nbsp;Corporate | 10 | 9 | 10 | 9 | 38 | 9 | 10 | 13 | 17 | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Depreciation, Depletion and Amortization | $2194 | $2371 | $1916 | $1966 | $8447 | $1643 | $1728 | $1736 | $1819 | $6926 |
| **Free Cash Flow (Non-GAAP) (a)** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Operating cash flow from continuing operations (GAAP)** | $**788** | $**3324** | $**2910** | $**3231** | $**10253** | $**3239** | $**5329** | $**4267** | $**3975** | $**16810** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plus: Working capital and other, net | 1347 | (614) | 57 | 636 | 1426 | 939 | (181) | 433 | 134 | 1325 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Operating cash flow from continuing operations <br> before working capital (Non-GAAP)** | **2135** | **2710** | **2967** | **3867** | **11679** | **4178** | **5148** | **4700** | **4109** | **18135** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Capital Expenditures (GAAP) | (579) | (698) | (656) | (937) | (2870) | (858) | (972) | (1147) | (1520) | (4497) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Free Cash Flow (Non-GAAP)** | $**1556** | $**2012** | $**2311** | $**2930** | $**8809** | $**3320** | $**4176** | $**3553** | $**2589** | $**13638** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-GAAP Measures. Operating cash flow before working capital and free cash flow are non-GAAP measures. Occidental defines operating cash flow before working capital as operating cash flow from continuing operations less working capital and free cash flow as operating cash flow before working capital less capital expenditures. These non-GAAP measures are not meant to disassociate those items from management's performance, but rather are meant to provide useful information to investors interested in comparing Occidental's performance between periods. Reported operating cash flow from continuing operations is considered representative of management's performance over the long term, and operating cash flow before working capital and free cash flow are not considered to be alternatives to reported operating cash flow in accordance with GAAP. |

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**SCHEDULE 8**

**Occidental Petroleum Corporation**

**Oil & Gas Net Production Volumes Per Day by Geographical Locations**

**TOTAL REPORTED PRODUCTION**

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| **REPORTED NET MBOE VOLUMES PER DAY:** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| **United States** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permian | 457 | 504 | 499 | 490 | 487 | 472 | 493 | 523 | 565 | 513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockies & Other Domestic | 296 | 308 | 292 | 313 | 302 | 286 | 279 | 270 | 272 | 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gulf of Mexico | 151 | 149 | 127 | 149 | 144 | 138 | 147 | 151 | 150 | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 904 | 961 | 918 | 952 | 933 | 896 | 919 | 944 | 987 | 937 |
| **International** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Algeria & Other International | 39 | 43 | 46 | 48 | 44 | 36 | 53 | 52 | 48 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Al Hosn | 57 | 81 | 83 | 81 | 76 | 45 | 76 | 84 | 86 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dolphin | 38 | 42 | 40 | 38 | 40 | 34 | 37 | 38 | 39 | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oman | 79 | 76 | 73 | 70 | 74 | 68 | 62 | 62 | 67 | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 213 | 242 | 242 | 237 | 234 | 183 | 228 | 236 | 240 | 222 |
| **TOTAL CONTINUING OPERATIONS PRODUCTION** | **1117** | **1203** | **1160** | **1189** | **1167** | **1079** | **1147** | **1180** | **1227** | **1159** |
| **OPERATIONS EXITED OR EXITING** | **22** | **22** | **16** | **3** | **16** | **—** | **—** | **—** | **—** | **—** |
| **TOTAL REPORTED PRODUCTION** | **1139** | **1225** | **1176** | **1192** | **1183** | **1079** | **1147** | **1180** | **1227** | **1159** |
| **REPORTED NET PRODUCTION** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**VOLUMES PER DAY BY COMMODITY:** |  |  |  |  |  |  |  |  |  |  |
| **United States** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil (MBBL) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permian | 271 | 297 | 292 | 284 | 286 | 280 | 291 | 303 | 337 | 303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockies & Other Domestic | 92 | 96 | 85 | 99 | 93 | 89 | 82 | 79 | 79 | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gulf of Mexico | 125 | 124 | 106 | 123 | 119 | 114 | 122 | 126 | 126 | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 488 | 517 | 483 | 506 | 498 | 483 | 495 | 508 | 542 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGL (MBBL) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permian | 97 | 113 | 116 | 114 | 110 | 108 | 114 | 126 | 130 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockies & Other Domestic | 92 | 100 | 94 | 100 | 97 | 92 | 100 | 96 | 97 | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gulf of Mexico | 11 | 11 | 9 | 11 | 10 | 10 | 11 | 11 | 11 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 200 | 224 | 219 | 225 | 217 | 210 | 225 | 233 | 238 | 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natural Gas (MMCF) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permian | 531 | 563 | 548 | 551 | 548 | 504 | 528 | 561 | 590 | 545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockies & Other Domestic | 673 | 674 | 675 | 684 | 676 | 632 | 582 | 572 | 575 | 590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gulf of Mexico | 90 | 85 | 72 | 88 | 84 | 83 | 81 | 84 | 79 | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 1294 | 1322 | 1295 | 1323 | 1308 | 1219 | 1191 | 1217 | 1244 | 1216 |
| **International** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil (MBBL) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Algeria and Other International | 36 | 39 | 42 | 43 | 40 | 33 | 47 | 44 | 41 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Al Hosn | 10 | 14 | 14 | 14 | 13 | 8 | 13 | 14 | 14 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dolphin | 6 | 7 | 6 | 6 | 7 | 5 | 6 | 6 | 6 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oman | 64 | 62 | 61 | 58 | 61 | 57 | 50 | 50 | 56 | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 116 | 122 | 123 | 121 | 121 | 103 | 116 | 114 | 117 | 113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGL (MBBL) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Algeria and Other International | 2 | 3 | 3 | 4 | 3 | 1 | 4 | 5 | 5 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Al Hosn | 18 | 25 | 26 | 25 | 24 | 14 | 23 | 26 | 27 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dolphin | 8 | 8 | 8 | 8 | 8 | 7 | 8 | 8 | 8 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 28 | 36 | 37 | 37 | 35 | 22 | 35 | 39 | 40 | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natural Gas (MMCF) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Algeria and Other International | 7 | 7 | 7 | 7 | 7 | 10 | 13 | 15 | 14 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Al Hosn | 174 | 252 | 255 | 253 | 234 | 139 | 237 | 265 | 268 | 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dolphin | 146 | 160 | 154 | 146 | 150 | 130 | 141 | 146 | 148 | 142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oman | 89 | 83 | 77 | 69 | 80 | 69 | 71 | 70 | 68 | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 416 | 502 | 493 | 475 | 471 | 348 | 462 | 496 | 498 | 451 |

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**SCHEDULE 9**

**Occidental Petroleum Corporation** 

**Oil & Gas Net Sales Volumes Per Day and Realized Prices by Geographical Locations** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| **NET SALES MBOE VOLUMES PER DAY:** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| **United States** | 904 | 961 | 918 | 952 | 933 | 896 | 919 | 944 | 987 | 937 |
| **International** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Algeria and Other International | 36 | 39 | 45 | 52 | 43 | 36 | 51 | 53 | 51 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Al Hosn | 57 | 81 | 82 | 81 | 76 | 46 | 76 | 84 | 85 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dolphin | 37 | 42 | 40 | 38 | 40 | 33 | 37 | 38 | 39 | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oman | 79 | 76 | 73 | 70 | 74 | 63 | 67 | 60 | 68 | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 209 | 238 | 240 | 241 | 233 | 178 | 231 | 235 | 243 | 222 |
| **TOTAL CONTINUING OPERATIONS SALES** | **1113** | **1199** | **1158** | **1193** | **1166** | **1074** | **1150** | **1179** | **1230** | **1159** |
| **OPERATIONS EXITED OR EXITING** | **28** | **9** | **36** | **—** | **18** | **—** | **—** | **—** | **—** | **—** |
| **TOTAL REPORTED SALES** | **1141** | **1208** | **1194** | **1193** | **1184** | **1074** | **1150** | **1179** | **1230** | **1159** |
| **REALIZED PRICES** |  |  |  |  |  |  |  |  |  |  |
| **United States** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil ($/BBL) | $56.18 | $64.39 | $68.76 | $75.78 | $66.39 | $93.23 | $108.64 | $93.43 | $82.41 | $94.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGL ($/BBL) | $23.62 | $25.33 | $35.20 | $37.43 | $30.62 | $40.60 | $42.80 | $35.04 | $25.43 | $35.69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natural Gas ($/MCF) | $2.56 | $2.59 | $3.35 | $4.64 | $3.30 | $4.17 | $6.25 | $7.06 | $4.45 | $5.48 |
| **International** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil ($/BBL) | $53.39 | $63.26 | $68.65 | $73.79 | $65.08 | $85.42 | $103.99 | $101.46 | $89.23 | $95.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGL ($/BBL) | $22.11 | $23.36 | $26.85 | $30.95 | $26.13 | $30.44 | $36.92 | $36.32 | $31.69 | $34.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natural Gas ($/MCF) | $1.70 | $1.68 | $1.68 | $1.70 | $1.69 | $1.85 | $1.89 | $1.92 | $1.89 | $1.89 |
| **Total Worldwide** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil ($/BBL) | $55.65 | $64.18 | $68.74 | $75.39 | $66.14 | $91.91 | $107.72 | $94.89 | $83.64 | $94.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGL ($/BBL) | $23.44 | $25.06 | $34.01 | $36.52 | $30.01 | $39.61 | $42.04 | $35.22 | $26.35 | $35.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natural Gas ($/MCF) | $2.36 | $2.34 | $2.89 | $3.86 | $2.87 | $3.66 | $5.03 | $5.57 | $3.72 | $4.51 |
| **Index Prices** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WTI Oil ($/BBL) | $57.84 | $66.07 | $70.56 | $77.19 | $67.91 | $94.29 | $108.41 | $91.55 | $82.65 | $94.23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brent Oil ($/BBL) | $61.10 | $69.02 | $73.23 | $79.76 | $70.78 | $97.36 | $111.69 | $97.59 | $88.68 | $98.83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NYMEX Natural Gas ($/MCF) | $2.72 | $2.76 | $3.71 | $5.27 | $3.61 | $4.16 | $6.62 | $7.86 | $6.76 | $6.35 |
| **Percentage of Index Prices** |  |  |  |  |  |  |  |  |  |  |
| Worldwide oil as a percentage of WTI | 96% | 97% | 97% | 98% | 97% | 97% | 99% | 104% | 101% | 100% |
| Worldwide oil as a percentage of Brent | 91% | 93% | 94% | 95% | 93% | 94% | 96% | 97% | 94% | 95% |
| Worldwide NGL as a percentage of WTI | 41% | 38% | 48% | 47% | 44% | 42% | 39% | 38% | 32% | 38% |
| Worldwide NGL as a percentage of Brent | 38% | 36% | 46% | 46% | 42% | 41% | 38% | 36% | 30% | 36% |
| Domestic gas as a percentage of NYMEX | 94% | 94% | 90% | 88% | 91% | 100% | 94% | 90% | 66% | 86% |

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**SCHEDULE 10**

**Occidental Petroleum Corporation** 

**Oil & Gas Metrics**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** | **Qtr 1** | **Qtr 2** | **Qtr 3** | **Qtr 4** | **TY** |
| **Lease operating expenses ($/BOE)** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United States | $7.20 | $6.00 | $7.37 | $6.96 | $6.87 | $7.82 | $8.99 | $9.41 | $9.36 | $8.92 |
| &nbsp;&nbsp;&nbsp;International | $11.83 | $9.81 | $9.53 | $10.64 | $10.41 | $14.53 | $12.05 | $11.08 | $11.29 | $12.07 |
| &nbsp;&nbsp;&nbsp;Total Oil and Gas | $8.07 | $6.76 | $7.82 | $7.70 | $7.58 | $8.94 | $9.60 | $9.74 | $9.74 | $9.52 |
| **Transportation costs ($/BOE)** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United States | $3.81 | $3.96 | $3.71 | $3.85 | $3.83 | $3.87 | $3.90 | $3.90 | $3.82 | $3.87 |
| &nbsp;&nbsp;&nbsp;Total Oil and Gas | $3.24 | $3.31 | $3.10 | $3.23 | $3.22 | $3.38 | $3.28 | $3.30 | $3.23 | $3.29 |
| **Taxes other than on income ($/BOE)** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United States | $2.11 | $2.24 | $2.72 | $2.15 | $2.30 | $3.43 | $3.97 | $3.97 | $3.11 | $3.61 |
| &nbsp;&nbsp;&nbsp;Total Oil and Gas | $2.06 | $2.21 | $2.68 | $2.39 | $2.34 | $3.43 | $4.05 | $3.90 | $3.15 | $3.63 |
| **DD&A expense ($/BOE)** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United States | $22.77 | $23.16 | $18.50 | $18.45 | $20.70 | $16.71 | $16.79 | $16.17 | $15.99 | $16.40 |
| &nbsp;&nbsp;&nbsp;International | $8.82 | $7.98 | $7.83 | $7.89 | $8.10 | $7.32 | $6.75 | $6.75 | $7.44 | $7.05 |
| &nbsp;&nbsp;&nbsp;Total Oil and Gas | $20.14 | $20.14 | $16.29 | $16.32 | $18.19 | $15.15 | $14.77 | $14.30 | $14.30 | $14.61 |
| **G&A and other operating expenses ($/BOE)** | $2.41 | $2.37 | $2.47 | $2.82 | $2.52 | $3.05 | $2.67 | $3.03 | $2.77 | $2.88 |
| **O&G MTM Loss - Collars, Calls and CO2 ($ millions)** | $40 | $139 | $97 | $4 | $280 | $— | $— | $— | $— | $— |
| **Exploration Expense ($ millions)** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United States | $22 | $64 | $24 | $48 | $158 | $9 | $10 | $23 | $71 | $113 |
| &nbsp;&nbsp;&nbsp;International | 6 | 22 | 7 | 59 | 94 | 16 | 16 | 24 | 47 | 103 |
| Total Exploration Expense | $28 | $86 | $31 | $107 | $252 | $25 | $26 | $47 | $118 | $216 |
| **Capital Expenditures ($ millions)** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Permian | $(223) | $(277) | $(257) | $(331) | $(1088) | $(381) | $(471) | $(629) | $(769) | $(2250) |
| &nbsp;&nbsp;&nbsp;Rockies & Other Domestic | (122) | (112) | (108) | (109) | (451) | (87) | (115) | (107) | (117) | (426) |
| &nbsp;&nbsp;&nbsp;Gulf of Mexico | (73) | (66) | (66) | (103) | (308) | (120) | (86) | (93) | (107) | (406) |
| &nbsp;&nbsp;&nbsp;International | (84) | (88) | (103) | (124) | (399) | (108) | (108) | (99) | (124) | (439) |
| &nbsp;&nbsp;&nbsp;Exploration Drilling | (11) | (56) | (27) | (69) | (163) | (57) | (69) | (72) | (125) | (323) |
| Total Oil and Gas | $(513) | $(599) | $(561) | $(736) | $(2409) | $(753) | $(849) | $(1000) | $(1242) | $(3844) |

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**SCHEDULE 11**

**Occidental Petroleum Corporation** 

**Reserves Replacement and Multi-Year Data - Worldwide**

---

| | | | |
|:---|:---|:---|:---|
| **WORLDWIDE** |  | **2022** | **3-Year Avg** |
| **Reserves Replacement (MMBOE)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Revisions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Infill |  | 335 | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Price and other revisions | (A) | 139 | 92 |
| &nbsp;&nbsp;&nbsp;Improved Recovery |  | 89 | 100 |
| &nbsp;&nbsp;&nbsp;Extensions and Discoveries |  | 176 | 114 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Organic | (B) | 739 | 487 |
| &nbsp;&nbsp;&nbsp;&nbsp;Organic Excluding Price and Other Revisions | (C)=(B)-(A) | 600 | 395 |
| &nbsp;&nbsp;&nbsp;Purchases |  | 10 | 19 |
| &nbsp;&nbsp;&nbsp;Sales | (D) | (21) | (91) |
| Total Reserve Additions | (E) | 728 | 415 |
| Production | (F) | 423 | 448 |
| **Costs Incurred ($ millions)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Property acquisition costs | (G) | $987 | $508 |
| &nbsp;&nbsp;&nbsp;Exploration costs |  | 454 | 319 |
| &nbsp;&nbsp;&nbsp;Development costs |  | 3506 | 2470 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Organic Costs | (H) | 3960 | 2789 |
| **Total Costs Incurred** | (I)=(G)+(H) | $4947 | $3297 |
| **Finding & Development Costs per BOE ($/BOE) - Non-GAAP** |  |  |  |
| &nbsp;&nbsp;&nbsp;Organic | (H)/(B) | $5.36 | $5.73 |
| &nbsp;&nbsp;&nbsp;Program Additions | (H)/(C) | $6.60 | $7.06 |
| &nbsp;&nbsp;&nbsp;All-In | (I)/[(E)-(D)] | $6.60 | $6.52 |
| **Reserves Replacement Ratio - Non-GAAP** |  |  |  |
| &nbsp;&nbsp;&nbsp;Organic | (B)/(F) | 175% | 109% |
| &nbsp;&nbsp;&nbsp;Program Additions | (C)/(F) | 142% | 88% |
| &nbsp;&nbsp;&nbsp;All-In | (E)/(F) | 172% | 93% |
| <u>Non-GAAP Measures</u> |  |  |  |
| Finding and development costs (F&D Costs) and reserves replacement ratio are non-GAAP measures that Occidental | Finding and development costs (F&D Costs) and reserves replacement ratio are non-GAAP measures that Occidental | Finding and development costs (F&D Costs) and reserves replacement ratio are non-GAAP measures that Occidental | Finding and development costs (F&D Costs) and reserves replacement ratio are non-GAAP measures that Occidental |
| believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost | believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost | believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost | believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost |
| of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures | of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures | of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures | of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures |
| may differ from similarly titled measures provided by other companies and as a result may not be comparable. | may differ from similarly titled measures provided by other companies and as a result may not be comparable. | may differ from similarly titled measures provided by other companies and as a result may not be comparable. | may differ from similarly titled measures provided by other companies and as a result may not be comparable. |
| F&D Costs – All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of | F&D Costs – All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of | F&D Costs – All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of | F&D Costs – All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of |
| proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for | proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for | proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for | proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for |
| the year. F&D Costs – Organic is F&D Costs – All-In excluding both the property acquisition costs and purchases | the year. F&D Costs – Organic is F&D Costs – All-In excluding both the property acquisition costs and purchases | the year. F&D Costs – Organic is F&D Costs – All-In excluding both the property acquisition costs and purchases | the year. F&D Costs – Organic is F&D Costs – All-In excluding both the property acquisition costs and purchases |
| of minerals in place, and F&D Costs – Program Additions further excludes price and other revisions that are not infills. | of minerals in place, and F&D Costs – Program Additions further excludes price and other revisions that are not infills. | of minerals in place, and F&D Costs – Program Additions further excludes price and other revisions that are not infills. | of minerals in place, and F&D Costs – Program Additions further excludes price and other revisions that are not infills. |
| Reserves Replacement – All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions | Reserves Replacement – All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions | Reserves Replacement – All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions | Reserves Replacement – All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions |
| and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves | and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves | and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves | and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves |
| Replacement – Organic is Reserves Replacement – All-In, excluding purchases and sales of minerals in place for | Replacement – Organic is Reserves Replacement – All-In, excluding purchases and sales of minerals in place for | Replacement – Organic is Reserves Replacement – All-In, excluding purchases and sales of minerals in place for | Replacement – Organic is Reserves Replacement – All-In, excluding purchases and sales of minerals in place for |
| the year. Reserves Replacement – Program Additions further excludes price and other revisions that are not infills. | the year. Reserves Replacement – Program Additions further excludes price and other revisions that are not infills. | the year. Reserves Replacement – Program Additions further excludes price and other revisions that are not infills. | the year. Reserves Replacement – Program Additions further excludes price and other revisions that are not infills. |

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**SCHEDULE 12**

**Occidental Petroleum Corporation** 

**Reserves Replacement and Multi-Year Data - United States Only**

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| | | | |
|:---|:---|:---|:---|
| **UNITED STATES** |  | **2022** | **3-Year Avg** |
| **Reserves Replacement (MMBOE)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Revisions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Infill |  | 335 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Price and other revisions | (A) | 146 | 84 |
| &nbsp;&nbsp;&nbsp;Improved Recovery |  | 78 | 77 |
| &nbsp;&nbsp;&nbsp;Extensions and Discoveries |  | 166 | 109 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Organic | (B) | 725 | 450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Organic Excluding Price and Other Revisions | (C)=(B)-(A) | 579 | 366 |
| &nbsp;&nbsp;&nbsp;Purchases |  | 10 | 19 |
| &nbsp;&nbsp;&nbsp;Sales | (D) | (21) | (57) |
| Total Reserve Additions | (E) | 714 | 412 |
| Production | (F) | 342 | 354 |
| **Costs Incurred ($ millions)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Property acquisition costs | (G) | $984 | $487 |
| &nbsp;&nbsp;&nbsp;Exploration costs |  | 279 | 181 |
| &nbsp;&nbsp;&nbsp;Development costs |  | 3083 | 2051 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Organic Costs | (H) | 3362 | 2232 |
| **Total Costs Incurred** | (I)=(G)+(H) | $4346 | $2719 |
| **Finding & Development Costs per BOE ($/BOE) - Non-GAAP** |  |  |  |
| &nbsp;&nbsp;&nbsp;Organic | (H)/(B) | $4.64 | $4.96 |
| &nbsp;&nbsp;&nbsp;Program Additions | (H)/(C) | $5.81 | $6.10 |
| &nbsp;&nbsp;&nbsp;All-In | (I)/[(E)-(D)] | $5.91 | $5.80 |
| **Reserves Replacement Ratio - Non-GAAP** |  |  |  |
| &nbsp;&nbsp;&nbsp;Organic | (B)/(F) | 212% | 127% |
| &nbsp;&nbsp;&nbsp;Program Additions | (C)/(F) | 169% | 103% |
| &nbsp;&nbsp;&nbsp;All-In | (E)/(F) | 209% | 116% |
| <u>Non-GAAP Measures</u> |  |  |  |
| Finding and development costs (F&D Costs) and reserves replacement ratio are non-GAAP measures that Occidental | Finding and development costs (F&D Costs) and reserves replacement ratio are non-GAAP measures that Occidental | Finding and development costs (F&D Costs) and reserves replacement ratio are non-GAAP measures that Occidental | Finding and development costs (F&D Costs) and reserves replacement ratio are non-GAAP measures that Occidental |
| believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost | believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost | believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost | believes are widely used in our industry, as well as by analysts and investors, to measure and evaluate the cost |
| of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures | of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures | of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures | of replacing annual production and adding proved reserves. Occidental's definitions of these non-GAAP measures |
| may differ from similarly titled measures provided by other companies and as a result may not be comparable. | may differ from similarly titled measures provided by other companies and as a result may not be comparable. | may differ from similarly titled measures provided by other companies and as a result may not be comparable. | may differ from similarly titled measures provided by other companies and as a result may not be comparable. |
| F&D Costs– All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of | F&D Costs– All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of | F&D Costs– All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of | F&D Costs– All-In is calculated by dividing total costs incurred for the year as defined by GAAP by the sum of |
| proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for | proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for | proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for | proved reserves revisions, improved recovery, extensions and discoveries and purchases of minerals in place for |
| the year. F&D Costs – Organic is F&D Costs – All-In excluding both the property acquisition costs and purchases | the year. F&D Costs – Organic is F&D Costs – All-In excluding both the property acquisition costs and purchases | the year. F&D Costs – Organic is F&D Costs – All-In excluding both the property acquisition costs and purchases | the year. F&D Costs – Organic is F&D Costs – All-In excluding both the property acquisition costs and purchases |
| of minerals in place, and F&D Costs – Program Additions further excludes price and other revisions that are not infills. | of minerals in place, and F&D Costs – Program Additions further excludes price and other revisions that are not infills. | of minerals in place, and F&D Costs – Program Additions further excludes price and other revisions that are not infills. | of minerals in place, and F&D Costs – Program Additions further excludes price and other revisions that are not infills. |
| Reserves Replacement – All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions | Reserves Replacement – All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions | Reserves Replacement – All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions | Reserves Replacement – All-In is calculated by dividing the sum of proved reserves revisions, improved recovery, extensions |
| and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves | and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves | and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves | and discoveries and purchases and sales of minerals in place for the year by current year production. Reserves |
| Replacement – Organic is Reserves Replacement – All-In, excluding purchases and sales of minerals in place for | Replacement – Organic is Reserves Replacement – All-In, excluding purchases and sales of minerals in place for | Replacement – Organic is Reserves Replacement – All-In, excluding purchases and sales of minerals in place for | Replacement – Organic is Reserves Replacement – All-In, excluding purchases and sales of minerals in place for |
| the year. Reserves Replacement – Program Additions further excludes price and other revisions that are not infills. | the year. Reserves Replacement – Program Additions further excludes price and other revisions that are not infills. | the year. Reserves Replacement – Program Additions further excludes price and other revisions that are not infills. | the year. Reserves Replacement – Program Additions further excludes price and other revisions that are not infills. |

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**SCHEDULE 13**

**Occidental Petroleum Corporation** 

**Proved Oil Reserves**

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| | | | |
|:---|:---|:---|:---|
|<br>**In millions of barrels (MMbbl)** | **United**<br>**States** |<br>**International** |<br>**Total** |
| **Proved Developed and Undeveloped Reserves** | | | |
| **Balance at December 31, 2019** | 1570 | 469 | 2039 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | (283) | (1) | (284) |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | 82 | 18 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | 9 | 5 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | 2 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | (31) | (101) | (132) |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | (205) | (59) | (264) |
| **Balance at December 31, 2020** | 1144 | 331 | 1475 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | 382 | 4 | 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | 6 | 13 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | 88 | 1 | 89 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | 33 |  | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | (5) |  | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | (182) | (44) | (226) |
| **Balance at December 31, 2021** | 1466 | 305 | 1771 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | **215** | **(5)** | **210** |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | **57** | **9** | **66** |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | **89** | **6** | **95** |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | **7** | **—** | **7** |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | **(10)** | **—** | **(10)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | **(185)** | **(41)** | **(226)** |
| **Balance at December 31, 2022** | **1639** | **274** | **1913** |
| **Proved Developed Reserves** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2019 | 1206 | 371 | 1577 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 | 917 | 251 | 1168 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 | 1140 | 226 | 1366 |
| &nbsp;&nbsp;&nbsp;&nbsp;**December 31, 2022** | **1208** | **200** | **1408** |
| **Proved Undeveloped Reserves** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2019 | 364 | 98 | 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 | 227 | 80 | 307 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 | 326 | 79 | 405 |
| &nbsp;&nbsp;&nbsp;&nbsp;**December 31, 2022** | **431** | **74** | **505** |

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**SCHEDULE 14**

**Occidental Petroleum Corporation** 

**Proved NGL Reserves**

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| | | | |
|:---|:---|:---|:---|
|<br>**In millions of barrels (MMbbl)** | **United**<br>**States** |<br>**International** |<br>**Total** |
| **Proved Developed and Undeveloped Reserves** | | | |
| **Balance at December 31, 2019** | 540 | 208 | 748 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | (90) | 10 | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | 32 | 10 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | 2 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | 1 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | (20) |  | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | (81) | (13) | (94) |
| **Balance at December 31, 2020** | 384 | 215 | 599 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | 227 | (1) | 226 |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | 27 |  | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | 7 |  | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | (2) |  | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | (79) | (12) | (91) |
| **Balance at December 31, 2021** | 564 | 202 | 766 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | **126** | **2** | **128** |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | **13** | **—** | **13** |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | **36** | **—** | **36** |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | **2** | **—** | **2** |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | **(4)** | **—** | **(4)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | **(83)** | **(12)** | **(95)** |
| **Balance at December 31, 2022** | **654** | **192** | **846** |
| **Proved Developed Reserves** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2019 | 406 | 147 | 553 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 | 314 | 138 | 452 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 | 433 | 125 | 558 |
| &nbsp;&nbsp;&nbsp;&nbsp;**December 31, 2022** | **444** | **120** | **564** |
| **Proved Undeveloped Reserves** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2019 | 134 | 61 | 195 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 | 70 | 77 | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 | 131 | 77 | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;**December 31, 2022** | **210** | **72** | **282** |

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**SCHEDULE 15**

**Occidental Petroleum Corporation** 

**Proved Natural Gas Reserves**

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| | | | |
|:---|:---|:---|:---|
|<br>**In billions of cubic feet (Bcf)** | **United**<br>**States** |<br>**International** |<br>**Total** |
| **Proved Developed and Undeveloped Reserves** | | | |
| **Balance at December 31, 2019** | 4128 | 2572 | 6700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | (823) | 102 | (721) |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | 183 | 103 | 286 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | 38 |  | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | 4 |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | (523) | (9) | (532) |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | (561) | (195) | (756) |
| **Balance at December 31, 2020** | 2446 | 2573 | 5019 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | 1274 | 27 | 1301 |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | 3 | 3 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | 176 |  | 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | 22 |  | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | (25) |  | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | (477) | (172) | (649) |
| **Balance at December 31, 2021** | 3419 | 2431 | 5850 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | **841** | **(30)** | **811** |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | **51** | **17** | **68** |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | **244** | **23** | **267** |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | **8** | **—** | **8** |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | **(45)** | **—** | **(45)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | **(445)** | **(164)** | **(609)** |
| **Balance at December 31, 2022** | **4073** | **2277** | **6350** |
| **Proved Developed Reserves** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2019 | 3198 | 2007 | 5205 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 | 2028 | 1846 | 3874 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 | 2632 | 1705 | 4337 |
| &nbsp;&nbsp;&nbsp;&nbsp;**December 31, 2022** | **2761** | **1597** | **4358** |
| **Proved Undeveloped Reserves** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2019 | 930 | 565 | 1495 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 | 418 | 727 | 1145 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 | 787 | 726 | 1513 |
| &nbsp;&nbsp;&nbsp;&nbsp;**December 31, 2022** | **1312** | **680** | **1992** |

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**SCHEDULE 16**

**Occidental Petroleum Corporation** 

**Total Proved Reserves**

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| | | | |
|:---|:---|:---|:---|
|<br>**In millions of barrels of oil equivalent (MMBOE) (a)** | **United**<br>**States** |<br>**International** |<br>**Total** |
| **Proved Developed and Undeveloped Reserves** | | | |
| **Balance at December 31, 2019** | 2798 | 1106 | 3904 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | (510) | 26 | (484) |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | 145 | 45 | 190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | 17 | 5 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | 4 |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | (138) | (103) | (241) |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | (380) | (104) | (484) |
| **Balance at December 31, 2020** | 1936 | 975 | 2911 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | 821 | 8 | 829 |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | 7 | 13 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | 144 | 1 | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | 44 |  | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | (11) |  | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | (341) | (85) | (426) |
| **Balance at December 31, 2021** | 2600 | 912 | 3512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revisions of previous estimates | **481** | **(7)** | **474** |
| &nbsp;&nbsp;&nbsp;&nbsp;Improved recovery | **78** | **11** | **89** |
| &nbsp;&nbsp;&nbsp;&nbsp;Extensions and discoveries | **166** | **10** | **176** |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of proved reserves | **10** | **—** | **10** |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales of proved reserves | **(21)** | **—** | **(21)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Production | **(342)** | **(81)** | **(423)** |
| **Balance at December 31, 2022** | **2972** | **845** | **3817** |
| **Proved Developed Reserves** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2019 | 2145 | 853 | 2998 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 | 1569 | 697 | 2266 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 | 2012 | 635 | 2647 |
| &nbsp;&nbsp;&nbsp;&nbsp;**December 31, 2022** | **2112** | **586** | **2698** |
| **Proved Undeveloped Reserves** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2019 | 653 | 253 | 906 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 | 367 | 278 | 645 |
| &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2021 | 588 | 277 | 865 |
| &nbsp;&nbsp;&nbsp;&nbsp;**December 31, 2022** | **860** | **259** | **1119** |
| (a) Natural gas volumes have been converted to barrels of oil equivalent (BOE) based on energy content of six thousand cubic feet (Mcf) of gas to one barrel of oil. | (a) Natural gas volumes have been converted to barrels of oil equivalent (BOE) based on energy content of six thousand cubic feet (Mcf) of gas to one barrel of oil. | (a) Natural gas volumes have been converted to barrels of oil equivalent (BOE) based on energy content of six thousand cubic feet (Mcf) of gas to one barrel of oil. | (a) Natural gas volumes have been converted to barrels of oil equivalent (BOE) based on energy content of six thousand cubic feet (Mcf) of gas to one barrel of oil. |

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**SCHEDULE 17**

**Occidental Petroleum Corporation** 

**Costs Incurred**

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| | | | |
|:---|:---|:---|:---|
|<br>Amounts in millions | **United**<br>**States** |<br>**International** |<br>**Total** |
| **FOR THE YEAR ENDED DECEMBER 31, 2022** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property acquisition costs <sup>(a)</sup>  | $**984** | $**3** | $**987** |
| &nbsp;&nbsp;&nbsp;&nbsp;Exploration costs | **279** | **175** | **454** |
| &nbsp;&nbsp;&nbsp;&nbsp;Development costs | **3083** | **423** | **3506** |
| **Costs Incurred** | $**4346** | $**601** | $**4947** |
| **FOR THE YEAR ENDED DECEMBER 31, 2021** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property acquisition costs | $429 | $1 | $430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exploration costs | 147 | 143 | 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;Development costs | 1749 | 366 | 2115 |
| Costs Incurred | $2325 | $510 | $2835 |
| **FOR THE YEAR ENDED DECEMBER 31, 2020** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property acquisition costs | $48 | $59 | $107 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exploration costs | 117 | 95 | 212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Development costs | 1376 | 466 | 1842 |
| Costs Incurred | $1541 | $620 | $2161 |
| <sup>(a)</sup> Included approximately $340 million related to non-monetary exchanges. | <sup>(a)</sup> Included approximately $340 million related to non-monetary exchanges. | <sup>(a)</sup> Included approximately $340 million related to non-monetary exchanges. | <sup>(a)</sup> Included approximately $340 million related to non-monetary exchanges. |

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