First Quarter 2026 Earnings Considerations (Form 8-K)

First Quarter 2026 Earnings Considerations

Occidental Petroleum Corporation ("Occidental") is providing the following summary of earnings considerations that management believes will impact results for the first quarter of 2026. The summary is intended only to provide information regarding current estimates of these factors. It is not comprehensive of all results for and changes that have occurred in the first quarter of 2026 and is not an estimate of the first quarter of 2026 earnings for Occidental. Further, this summary may not account for all adjustments and charges required to fully reflect changes in industry conditions, is preliminary and is subject to finalization of Occidental's financial reporting process for the first quarter of 2026.

Average Diluted Shares Outstanding

Average diluted shares outstanding for the first quarter of 2026 were 1,006.9 million shares.

Realizations

The following table presents information about Occidental's average realized prices and index prices:

			Three months ended March 31, 2026
Average Realized Prices
Oil ($/Bbl)
United States			$	70.31
International			$	67.59
Total Worldwide			$	69.91
NGL ($/Bbl)
United States			$	18.45
International			$	23.52
Total Worldwide			$	18.99
Natural Gas ($/Mcf)
United States			$	1.01
International			$	1.93
Total Worldwide			$	1.20
Average Index Prices
WTI oil ($/Bbl)			$	71.93
Brent oil ($/Bbl)			$	77.93
NYMEX gas ($/Mcf)			$	3.93
Average Realized Prices as Percentage of Average Index Prices
Worldwide oil as a percentage of average WTI			97		%
Worldwide oil as a percentage of average Brent			90		%
Worldwide NGL as a percentage of average WTI			26		%
Domestic natural gas as a percentage of average NYMEX			26		%