Occidental Petroleum (OXY) official guidance

| Domestic lease operating cost ($/boe) | | $ | 8.54 | |

| Gulf of America net sales volumes (Mboed) | | 110 | | |

Total company production for the third quarter of 2026 is within Occidental's guidance range and includes the temporary Gulf of America downtime described below.

| Total company production oil (%) | | 48.8 | | % |

With Stratos moving from development to operations, approximately $400 million of LCV capital will fully roll off beginning next year.

We are maintaining our full-year capital guidance range of $5.5 billion-$5.9 billion.

Looking to 2027, as we mentioned in the previous calls, our starting point for capital spending is expected to be $5.9 billion.

We are on track for this year's targets and expect to further extend our savings by 2030.

We are currently on track to achieve the greater than $1.2 billion of cash flow improvement in 2026 relative to 2025, which we had outlined earlier this year.

Cannot give a specific number at this point, but considering the roll-off of LCV capital, the expected interest savings once we get our principal debt down to $10 billion, and some of the expected oil and gas savings, it's going to be around $700 million-$800 million in 2027 relative to 2026.

As you think beyond 2027, there is $700 million of the preferred redemption in August 2029, and that leaves around $1.3 billion, which we expect to achieve between 2028 and 2029.

By 2030, we expect to deliver $4 billion of annual sustainable cash flow improvement relative to 2025.

Between '26 and '27, it's going to be around $2 billion, which is approximately or close to 50% of the $4 billion savings.

For the full year, we are maintaining domestic lease operating expense guidance of $8.10 per BOE, with efficiency gains and disciplined cost management helping to offset increasing CO2 cost pressure related to higher oil prices.

We have said we're targeting 12% by 2030. This year alone, we are at 7%.

Internationally, we anticipate normalized volumes while recognizing the situation in the Middle East is fluid.

In the Permian, production is expected to increase, adjusted for a non-recurring second quarter production uplift, supported by higher activity and resilient base performance.

In the Rockies, third quarter volumes are expected to decline as a result of activity timing.

Looking to 2027, as we mentioned in the previous calls, our starting point for capital spending is expected to be $5.9 billion. That level includes mid-cycle projects that help reduce base decline and sustaining capital over time. At that level of investment, you can assume relatively flat production in line with 2026.

In midstream and marketing, we expect third quarter income to decline as the Waha to Gulf Coast natural gas spread narrows.