Occidental Petroleum Corporation announced the tender results of its offers to purchase for cash (each, an Offer and collectively, the Offers). The Offers were made on the terms and subject to the conditions in the Offer to Purchase dated May 16, 2022 (the Offer to Purchase). In connection therewith, Occidental further announced that it is increasing (a) the maximum aggregate purchase price of the Pool 1 Notes it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the Pool 1 Maximum Purchase Price), from the previously announced amount of $700,000,000 to $725,000,000; (b) the maximum aggregate purchase price of the Pool 2 Notes it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the Pool 2 Maximum Purchase Price), from the previously announced amount of $650,000,000 to $790,000,000; and (c) the maximum aggregate purchase price of the Pool 3 Notes it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the Pool 3 Maximum Purchase Price), from the previously announced amount of $650,000,000 to $2,250,000,000.

Capitalized terms used in this release but not otherwise defined have the meaning given in the Offer to Purchase. The Offers expired at 5:00 p.m., New York City time, on May 20, 2022 (such time and date, the Expiration Time). Occidental's obligation to complete an Offer with respect to a particular Series of Pool 1 Notes validly tendered is conditioned on the aggregate Purchase Price for the Offers, excluding the Accrued Interest with respect to each Series of Notes (the Aggregate Purchase Price) with respect to the Pool 1 Notes, not exceeding the Pool 1 Maximum Purchase Price, and on the Pool 1 Maximum Purchase Price being sufficient to pay the Aggregate Purchase Price for all validly tendered Notes of such Series (after paying the Pool 1 Aggregate Purchase Price for all validly tendered Pool 1 Notes that have a higher Acceptance Priority Level) (the Pool 1 Maximum Consideration Condition).

Occidental's obligation to complete an Offer with respect to a particular Series of Pool 2 Notes validly tendered is conditioned on the Aggregate Purchase Price for the Offers with respect to the Pool 2 Notes not exceeding the Pool 2 Maximum Purchase Price, and on the Pool 2 Maximum Purchase Price being sufficient to pay the Pool 2 Aggregate Purchase Price for all validly tendered Notes of such Series (after paying the Pool 2 Aggregate Purchase Price for all validly tendered Pool 2 Notes that have a higher Acceptance Priority Level) (the Pool 2 Maximum Consideration Condition). Occidental's obligation to complete an Offer with respect to a particular Series of Pool 3 Notes validly tendered is conditioned on the Aggregate Purchase Price for the Offers with respect to the Pool 3 Notes not exceeding the Pool 3 Maximum Purchase Price, and on the Pool 3 Maximum Purchase Price being sufficient to pay the Pool 3 Aggregate Purchase Price for all validly tendered Notes of such Series (after paying the Pool 3 Aggregate Purchase Price for all validly tendered Pool 3 Notes that have a higher Acceptance Priority Level) (the Pool 3 Maximum Consideration Condition). The purchase of all Pool 1 Notes validly tendered and not validly withdrawn in the Tender Offers (including those anticipated to be tendered pursuant to the Guaranteed Delivery Procedures) would cause the Pool 1 Maximum Consideration Condition to not be satisfied with respect to all Offers for the Pool 1 Notes.

Accordingly, in accordance with the Pool 1 Maximum Consideration Condition, Occidental has accepted for purchase the 3.200% Senior Notes due 2026 and the 3.400% Senior Notes due 2026, and has not accepted for purchase any of the 3.500% Senior Notes due 2025, 5.50% Senior Notes due 2025, 5.875% Senior Notes due 2025, 2.900% Senior Notes due 2024, 2.70% Senior Notes due 2023, 3.450% Senior Notes due 2024, 6.950% Senior Notes due 2024 or 8.000% Senior Notes due 2025.