<SEC-DOCUMENT>0001387131-23-004843.txt : 20230419
<SEC-HEADER>0001387131-23-004843.hdr.sgml : 20230419
<ACCEPTANCE-DATETIME>20230419135242
ACCESSION NUMBER:		0001387131-23-004843
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230419
DATE AS OF CHANGE:		20230419
EFFECTIVENESS DATE:		20230419

SUBJECT COMPANY:	

	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:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09210
		FILM NUMBER:		23829654

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Majority Action, LLC
		CENTRAL INDEX KEY:			0001738314
		IRS NUMBER:				825260248
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		1885 MISSION ST.
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94103
		BUSINESS PHONE:		2022152895

	MAIL ADDRESS:	
		STREET 1:		1885 MISSION ST.
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94103
</SEC-HEADER>
<DOCUMENT>
<TYPE>PX14A6G
<SEQUENCE>1
<FILENAME>oxy-px14a6g_041923.htm
<DESCRIPTION>NOTICE OF EXEMPT SOLICITATION
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    <TD STYLE="width: 89%; padding: 5pt; height: 99.2pt"><P STYLE="font: 8.5pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Notice Of Exempt Solicitation:
    (VOLUNTARY SUBMISSION)</FONT></P>
    <P STYLE="font: 8.5pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">NAME OF REGISTRANT:
    Occidental Petroleum Corp</FONT></P>
    <P STYLE="font: 8.5pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">NAME OF PERSON
    RELYING ON EXEMPTION: Majority Action</FONT></P>
    <P STYLE="font: 8.5pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ADDRESS OF
    PERSON RELYING ON EXEMPTION: PO Box 4831, Silver Spring, MD 20914</FONT></P>
    <P STYLE="font: 8.5pt Franklin Gothic; margin: 0">&nbsp;</P>
    <P STYLE="font: 8.5pt Arial, Helvetica, Sans-Serif; margin: 0">Written materials are submitted pursuant to Rule 14a-6(g)(1) promulgated
    under the Securities Exchange Act of 1934. Submission is not required of this filer under the terms of the Rule but is made voluntarily.</P></TD>
    <TD STYLE="width: 11%; padding: 5pt; height: 99.2pt; font: 11pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD></TR>
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<P STYLE="font: 26pt Georgia, Times, Serif; margin: 10pt 0 3pt; color: #0072BD"><FONT STYLE="font-size: 13pt"><B>Occidental Petroleum
Corp [NYSE: OXY]</B></FONT><B><FONT STYLE="font-size: 12pt">: Due to the company&rsquo;s FAILURE to:</FONT></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0072BD"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Franklin Gothic; font-size: 12pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">Commit
                                            to reducing its greenhouse gas (GHG) emissions to net zero by 2050 without excessively relying
                                            on offsets and negative emissions, </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0072BD"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Franklin Gothic; font-size: 12pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">Align
                                            its future capital allocation with limiting warming to 1.5&deg;C, and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0072BD"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Franklin Gothic; font-size: 12pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">Commit
                                            to conduct all of its lobbying in line with the goals of the Paris Agreement, including aligning
                                            its industry association memberships and activity;</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Georgia, Times, Serif; margin: 0 0 3pt; color: #0072BD"><B>&nbsp;</B></P>

<P STYLE="font: 13pt Georgia, Times, Serif; margin: 0; color: #0072BD"><B>Vote AGAINST:</B></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Franklin Gothic; font-size: 12pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Jack
                                            B. Moore, </B>Chairman of the Board (Item 1.06), and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #0072BD"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Franklin Gothic; font-size: 12pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Andrew
                                            Gould, </B>Chair of the Sustainability and Shareholder Engagement Committee (Item 1.02).</FONT></TD></TR></TABLE>

<P STYLE="font: 13pt Georgia, Times, Serif; margin: 0; color: #0072BD">&nbsp;</P>

<P STYLE="word-break: break-all; font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #0072BD"><B>The
physical and financial risks posed by climate change to long-term investors are systemic, portfolio-wide, unhedgeable and undiversifiable.
</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Therefore, the actions of companies that fail to align to limiting
warming to 1.5&deg;C pose risks to the financial system as a whole, and to investors&rsquo; entire portfolios. See <FONT STYLE="color: #1155CC"><U>www.proxyvoting.majorityaction.us
</U></FONT>for more information regarding Majority Action&rsquo;s Proxy Voting for a 1.5&deg;C World initiative and the transformation
required in key industries.</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 11pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0072BD"><B>Occidental
Petroleum is one of the largest onshore oil producers in the U.S. and a major off-shore producer in the Gulf of Mexico.<SUP>1</SUP></B></FONT>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Occidental Petroleum is among the 166 target companies named
by Climate Action 100+ as the largest global emitters, companies that are &ldquo;key to driving the global net zero emissions transition.&rdquo;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt"><SUP>2</SUP></FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #0072BD"><B>Petroleum
and fossil gas products, including those used in transportation, buildings, industrial processes, and electricity production, account
for nearly 80% of carbon emissions from the U.S. energy system.<SUP>3</SUP></B></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
2021, the International Energy Agency (IEA) released its Net Zero Emissions by 2050 Scenario (NZE), which sets out a pathway to reduce
emissions from the global energy system aligned with limiting warming to 1.5&deg;C. Under the NZE, fossil fuel use falls dramatically
in the next decade, and remaining fossil fuel demand can be met through existing supplies and infrastructure. Approving new oil and gas
fields is incompatible with this pathway.</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Franklin Gothic; margin: 0"></P>

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<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #0072BD"><B>Failure
to set ambitious decarbonization targets in line with <FONT STYLE="background-color: white">1.5&deg;C </FONT>pathways, and to align companies&rsquo;
business plans and policy influence to those targets, is a failure of strategy and corporate governance, for which long-term investors
should hold directors accountable. </B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">At companies where
the production, processing, sale, and/or consumption of fossil fuels is central to their core business, GHG emissions reductions have
profound strategic implications. The board chair, lead independent director where the position exists, and other board members with climate-related
oversight responsibilities should be held accountable for oversight failures related to decarbonization.</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #0072BD"><B>In 2023,
we have updated our metrics to more closely align with the Climate Action 100+ Net Zero Benchmark Indicators</B></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">for
the oil and gas sector, while still focusing on the three core pillars of target setting, capital allocation, and policy influence. This
allows for a more standardized assessment across companies that is broadly accepted by investors.</FONT></P>

<P STYLE="font: 14pt Georgia, Times, Serif; margin: 0; color: #0072BD"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Georgia, Times, Serif; margin: 0; color: #0072BD"><B>Target setting</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="height: 1pt; background-color: #0072BD">
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: white 1pt solid; border-right: #0072BD 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; height: 1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Climate Action 100+ Net Zero Benchmark Indicators</FONT></TD>
    <TD STYLE="border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; height: 1pt">&nbsp;</TD></TR>
  <TR STYLE="height: 45.45pt">
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 1.1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The company has set an ambition to achieve net zero GHG emissions by 2050 or sooner.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #6AA84F; height: 45.45pt; text-align: center"><FONT STYLE="font-family: Franklin Gothic; font-size: 16pt; color: white"><B>&check;</B></FONT></TD></TR>
  <TR STYLE="height: 45.45pt">
    <TD STYLE="vertical-align: top; width: 7%; border-left: white 1pt solid; padding: 5pt; border-bottom: white 1pt solid; border-right: #0072BD 1pt solid; background-color: #0072BD; height: 45.45pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 18%; border-bottom: white 1pt solid; padding: 5pt; border-right: white 1pt solid; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 1.1A</FONT></TD>
    <TD STYLE="vertical-align: top; width: 67%; border-bottom: white 1pt solid; padding: 5pt; border-right: white 1pt solid; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The company has made a qualitative net zero GHG emissions ambition statement that explicitly includes at least 95% of its scope 1 and 2 emissions.</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; padding: 5pt; border-right: white 1pt solid; background-color: #6AA84F; height: 45.45pt; text-align: center"><FONT STYLE="font-family: Franklin Gothic; font-size: 16pt; color: white"><B>&check;</B></FONT></TD></TR>
  <TR STYLE="height: 45.45pt">
    <TD STYLE="vertical-align: top; border-right: #0072BD 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 1.1B</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The company&rsquo;s net zero GHG emissions ambition covers the most relevant scope 3 GHG emissions categories for the company&rsquo;s sector, where applicable.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #6AA84F; height: 45.45pt; text-align: center"><FONT STYLE="font-family: Franklin Gothic; font-size: 16pt; color: white"><B>&check;</B></FONT></TD></TR>
  <TR STYLE="height: 45.45pt">
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 3.1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The company has set a target for reducing its GHG emissions by between 2026 and 2035 on a clearly defined scope of emissions.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 45.45pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>X</B></FONT></TD></TR>
  <TR STYLE="height: 45.45pt">
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 3.2</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The medium-term (2026 to 2035) GHG reduction target covers at least 95% of scope 1 &amp; 2 emissions and the most relevant scope 3 emissions (where applicable).</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 45.45pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>X</B></FONT></TD></TR>
  <TR STYLE="height: 45.45pt">
    <TD STYLE="vertical-align: top; border-right: #0072BD 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 3.2A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The company has specified that this target covers at least 95% of its total scope 1 and 2 emissions.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 45.45pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>X</B></FONT></TD></TR>
  <TR STYLE="height: 45.45pt">
    <TD STYLE="vertical-align: top; border-right: #0072BD 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 3.2B</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 45.45pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">If the company has set a scope 3 GHG emissions target, it covers the most relevant scope 3 emissions categories for the company&rsquo;s sector (for applicable sectors), and the company has published the methodology used to establish any scope 3 target.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 45.45pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>X</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="height: 45.45pt">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; vertical-align: top; background-color: #0072BD; height: 45.45pt; width: 25%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 3.3</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; vertical-align: top; background-color: #0072BD; height: 45.45pt; width: 67%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The target (or, in the absence of a target, the company&rsquo;s latest disclosed GHG emissions intensity) is aligned with the goal of limiting global warming to 1.5&deg;C.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 45.45pt; text-align: center; width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>X</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Occidental has set a net zero
by 2050 ambition that covers scope 1, 2, and 3 emissions, and has a goal of net zero emissions from its operations (scopes 1 and 2) by
2040, with an ambition to do so by 2035.<SUP>4</SUP> Occidental&rsquo;s interim goals do not meet Climate Action 100+ Net Zero Company
Benchmark criteria for a medium-term goal, as the deadline set is beyond the assessment timeframe.<SUP>5</SUP></FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Occidental&rsquo;s ambition
to reduce its scope 3 emissions from its customers&rsquo; use of products it sells relies heavily on carbon removals, such as carbon
capture, use and storage (CCUS) and direct air capture (DAC) technologies.<SUP>6</SUP> The company also characterizes its medium-term
goals as &ldquo;CCUS-driven.&rdquo;<SUP>7</SUP> Its Oxy Low Carbon Ventures (OLCV) business unit is focused on the broad development
of CCUS technologies.<SUP>8</SUP> Relying on CCUS&ndash;rather than phasing out the production of fossil fuels&ndash;is a risky strategy.<SUP>9</SUP></FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Many proposed CCUS technologies
are as yet unproven at scale, with high variability in effectiveness,<SUP>10</SUP> and a massive infrastructure investment and buildout
would be required to capture enough carbon to limit warming to 1.5&deg;C.<SUP>11</SUP> DAC and other carbon removal/capture must be used
in addition to, not instead of, rapid and deep emissions reductions and reductions in the production and use of fossil fuels. According
to the Science Based Targets initiative, using negative emissions for residual, difficult to abate corporate emissions in the direct
and indirect value chain should be limited to no more than 10% of a company&rsquo;s total emissions.<SUP>12</SUP></FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Georgia, Times, Serif; margin: 0; color: #0072BD"><B>Capital allocation and investment plans</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="height: 12.9pt; vertical-align: top; background-color: #0072BD">
    <TD COLSPAN="3" STYLE="border-top: white 1pt solid; border-right: #0072BD 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; height: 12.9pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Climate Action 100+ Net Zero Benchmark Indicators</FONT></TD></TR>
  <TR STYLE="height: 50.3pt">
    <TD STYLE="vertical-align: top; width: 30%; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 6.1</FONT></TD>
    <TD STYLE="vertical-align: top; width: 61%; border-bottom: white 1pt solid; padding: 5pt; border-right: white 1pt solid; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The company is working to decarbonise its capital expenditures.</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: white 1pt solid; padding: 5pt; border-right: white 1pt solid; background-color: #F25025; height: 50.3pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>X</B></FONT></TD></TR>
  <TR STYLE="height: 50.3pt">
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 6.1A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The company explicitly commits to align its capital expenditure plans with its long-term GHG reduction target OR to phase out planned expenditure in unabated carbon intensive assets or products.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 50.3pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>X</B></FONT></TD></TR>
  <TR STYLE="height: 50.3pt">
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Disclosure Indicator 6.1B</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The company explicitly commits to align its capital expenditure plans with the Paris Agreement&rsquo;s objective of limiting global warming to 1.5&deg;C AND to phase out investment in unabated carbon intensive assets or products.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 50.3pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>X</B></FONT></TD></TR>
  <TR STYLE="height: 50.3pt">
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Capital Allocation Alignment Assessment (Carbon Tracker) 1: Company&rsquo;s Recent Actions</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">In the most recent full year (2021), were all the company&rsquo;s upstream oil and gas CAPEX projects consistent with the IEA&rsquo;s Beyond 2&deg;C Scenario (B2DS)? </FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #6AA84F; height: 50.3pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 16pt; color: white"><B>Yes</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="height: 50.3pt">
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt; width: 30%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Capital Allocation Alignment Assessment (Carbon Tracker) 2: Capex Analysis</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt; width: 61%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">What percentage of the company's potential future (2022-2030) unsanctioned oil and gas CAPEX is inconsistent with the IEA's B2DS? </FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 50.3pt; text-align: center; width: 9%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt; color: white"><B>89%</B></FONT></TD></TR>
  <TR STYLE="height: 50.3pt">
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Capital Allocation Alignment Assessment (Carbon Tracker) 4: Net Zero Analysis</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 50.3pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">What is the company&rsquo;s oil and gas production level in the 2030s (against a 2022 baseline) assuming no new oil and gas projects are sanctioned as stated by the IEA's NZE? </FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 50.3pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt; color: white"><B>-71%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">According to the Climate Action
100+ Net Zero Company Benchmark, Occidental had not met any of the indicators for capital allocation alignment; to do so, the company
would need to align future capital expenditures with its long-term GHG reduction target(s), commit to align future capital expenditures
with the Paris Agreement&rsquo;s objective of limiting global warming to 1.5&deg;C, and disclose the methodology it uses for such alignment.<SUP>13</SUP></FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">According
to Carbon Tracker data provided through the Climate Action 100+ Net Zero Benchmark, Occidental&rsquo;s oil and gas production must fall
by more than 70% from its 2022 level to be aligned with the IEA NZE. Despite this, Carbon Tracker finds that 89% of Occidental&rsquo;s
future potential capex between 2022 and 2030 is outside of the IEA&rsquo;s Beyond 2&deg;C Scenario (limiting warming to 1.75</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11.5pt">&deg;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">C,
net zero by 2060), let alone the NZE. This places Occidental&rsquo;s future capex as tied with ConocoPhillips for the most misaligned
with the Paris Agreement of the U.S.-based oil and gas producers assessed by Climate Action 100+.<SUP>14</SUP></FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Occidental ranked among the
top 10 U.S. oil and gas producers for resources under development and field evaluation as of September 2022 (with 95.2% of that in unconventional
sources), and ranked 7th amongst U.S. oil and gas producers for exploration capex between 2020 to 2022.<SUP>15</SUP></FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Georgia, Times, Serif; margin: 0; color: #0072BD"><B>Policy influence</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="height: 8.85pt; vertical-align: top; background-color: #0072BD">
    <TD COLSPAN="3" STYLE="border-top: white 1pt solid; border-right: #0072BD 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; height: 8.85pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Climate Action 100+ Net Zero Benchmark Indicators</FONT></TD></TR>
  <TR STYLE="height: 34.1pt">
    <TD STYLE="vertical-align: top; width: 32%; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 34.1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Climate Policy Engagement Alignment (InfluenceMap) 1: Organization Score</FONT></TD>
    <TD STYLE="vertical-align: top; width: 60%; border-bottom: white 1pt solid; padding: 5pt; border-right: white 1pt solid; background-color: #0072BD; height: 34.1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The level of company support for (or opposition to) Paris Agreement-aligned climate policy.<SUP>16</SUP></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; padding: 5pt; border-right: white 1pt solid; background-color: #F1C232; height: 34.1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt; color: white"><B>58%</B></FONT></TD></TR>
  <TR STYLE="height: 34.1pt">
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 34.1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">Climate Policy Engagement Alignment (InfluenceMap) 2: Relationship Score</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #0072BD; height: 34.1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: white">The level of a company&rsquo;s industry associations&rsquo; support for (or opposition to) Paris Agreement-aligned climate policy.</FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 5pt; background-color: #F25025; height: 34.1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt; color: white"><B>34%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">According to InfluenceMap, Occidental
received a D+ grade for its mixed policy engagement.<SUP>17</SUP> While its direct policy engagement is described as mixed in its support
for climate policies, it retains memberships in industry associations such as the American Petroleum Institute and the U.S. Chamber of
Commerce which have actively opposed ambitious climate regulation in the U.S.<SUP>1819</SUP> Occidental describes the positions of the
American Petroleum Institute as &ldquo;generally consistent&rdquo; with its own climate position in its <I>Climate Advocacy and Engagement
</I>report,<SUP>20</SUP> despite that organization&rsquo;s record of climate obstructionism.<SUP>21</SUP> While Occidental&rsquo;s report
does note some differences over carbon pricing, it does not detail how it will resolve that misalignment.</FONT></P>

<P STYLE="font: 10pt Franklin Gothic; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Franklin Gothic; margin: 0; color: #0072BD"></P>

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<P STYLE="font: 12pt Franklin Gothic; margin: 0; color: #0072BD"><FONT STYLE="font-size: 10pt; font-family: Arial, Helvetica, Sans-Serif"><B>Conclusion:
Occidental has failed to set a robust net zero emissions by 2050 target, excludes scope 3 emissions from its medium-term target, and
has not aligned its future capital allocation and policy influence, in particular through its trade associations, to limit warming to
1.5&deg;C. Therefore, we recommend that shareholders vote AGAINST Chairman Jack B. Moore and Sustainability Committee Chair Andrew Gould
at the company&rsquo;s annual meeting on May 5, 2023.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>




<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>1
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Occidental Petroleum, &ldquo;Performance Production,&rdquo;
(website), https://www.oxy.com/operations/performance-production, accessed April 13, 2023</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>2
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Climate Action 100+, &ldquo;Companies,&rdquo; https://www.climateaction100.org/whos-involved/companies/,
accessed April 13, 2023</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>3
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">U.S. Energy Information Administration, &ldquo;Total
Energy,&rdquo; (data browser), https://www.eia.gov/totalenergy/data/browser/index.php?tbl=T11.01#/?f=A&amp;start=1973&amp;end=2019&amp;charted=0-1-13,
accessed April 10, 2023</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>4
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Occidental Petroleum, <I>Building to Net Zero:
Climate Report 2022</I>, December 2022, <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://www.oxy.com/globalassets/documents/publications/oxy-climate-report-2022.pdf</FONT>,
p 40</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>5
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Climate Action 100+, &ldquo;Occidental Petroleum
Corp.,&rdquo; (Company Assessment), <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://www.climateaction100.org/company/occidental-petroleum-corporation/</FONT>,
accessed April 13, 2023 </FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>6
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Occidental Petroleum, <I>Building to Net Zero:
Climate Report 2022</I>, December 2022, <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://www.oxy.com/globalassets/documents/publications/oxy-climate-report-2022.pdf</FONT>,
pp. 23-33</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>7
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Occidental Petroleum, Schedule 14-A, filed April
7, 2022, https://www.sec.gov/Archives/edgar/data/797468/000114036122013468/brhc10036187_defa14a.htm, p. 11</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>8
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Occidental Petroleum, <I>Oxy Low Carbon Ventures
Fast Facts</I>, August 2022, https://www.oxy.com/globalassets/documents/publications/fast-facts/oxy_fast_facts_olcv.pdf</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>9
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Oil Change International, <I>Big Oil Reality Check</I>,
September 2020, http://priceofoil.org/content/uploads/2020/09/OCI-Big-Oil-Reality-Check-vF.pdf, pp. 8-9,18 </FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>10
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Institute for Energy Economics and Financial Analysis,
<I>The Carbon Capture Crux: Lessons Learned</I>, September 2022, https://ieefa.org/resources/carbon-capture-crux-lessons-learned</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>11
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Global CCS Institute, <I>Global Status of CCS 2021</I>,
November 2021, https://www.globalccsinstitute.com/wp-content/uploads/2021/11/Global-Status-of-CCS-2021-Global-CCS-Institute-1121.pdf,
p. 12 </FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>12
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Science Based Targets initiative, &rdquo;The Corporate
Net-Zero Standard,&rdquo; (website), <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://sciencebasedtargets.org/net-zero</FONT>, accessed April 18,
2023 </FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>13
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Climate Action 100+, &ldquo;Occidental Petroleum,&rdquo;
Company Assessment, <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://www.climateaction100.org/company/occidental-petroleum/#</FONT>, accessed April
10, 2023 </FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>14
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Climate Action 100+, <I>Climate Action 100+ Net
Zero Company Benchmark</I>, Carbon Tracker data, October 2022, <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://www.climateaction100.org/wp-content/uploads/2022/12/Downloadable-Excel_CA100-Benchmark_Dec-2022_CAAA-scores-v1.1.xlsx
</FONT>(Oil &amp; Gas Assessments tab)</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>15
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Urgewald, &ldquo;Global Oil &amp; Gas Exit List
(Gogel),&rdquo; (analysis using GOGEL data), <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://gogel.org/</FONT> (Expenditure is a 3-year average
from 2020-2022) </FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>16
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">InfluenceMap, &ldquo;About Our Scores,&rdquo; LobbyMap,
https://lobbymap.org/page/About-our-Scores, accessed April 10, 2023 (According to InfluenceMap&rsquo;s methodology &ldquo;Organisation
Score&rdquo; and &ldquo;Relationship Score&rdquo; (expressed as a percentage from 0 to 100) is a measure of how supportive or obstructive
the company&rsquo;s or its industry</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Franklin Gothic; font-size: 10pt"></FONT></P>

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<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">associations&rsquo;
engagement is with climate policy aligned with the Paris Agreement, with 0% being fully opposed and 100% being fully supportive.)</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>17
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">InfluenceMap, &ldquo;Occidental Petroleum,&rdquo;
LobbyMap, <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://lobbymap.org/company/Occidental-Petroleum/projectlink/Occidental-Petroleum-In-Climate-Change</FONT>,
accessed April 13, 2023 </FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>18
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">InfluenceMap, &ldquo;Occidental Petroleum,&rdquo;
LobbyMap, <FONT STYLE="text-decoration: underline; color: rgb(17,85,204)">https://lobbymap.org/company/Occidental-Petroleum/projectlink/Occidental-Petroleum-In-Climate-Change</FONT>,
accessed April 13, 2023 </FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>19
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">InfluenceMap, &ldquo;The U.S. Chamber's Climate
Policy Engagement,&rdquo; (briefing), February 2023, https://influencemap.org/briefing/The-U-S-Chamber-of-Commerce-and-Climate-Policy-21084</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>20
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Occidental Petroleum, <I>Oxy Climate Advocacy and
Engagement</I>, November 30, 2022, https://www.oxy.com/globalassets/documents/sustainability/oxy-climate-advocacy-and-engagement.pdf/download,
p. 3</FONT></P>

<P STYLE="word-break: break-all; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><SUP>21
</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">InfluenceMap, &ldquo;American Petroleum Institute,&rdquo;
LobbyMap, https://lobbymap.org/influencer/American-Petroleum-Institute-API, accessed April 13, 2023</FONT></P>

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