ZERO IN ON VALUE 3 Key Takeaways Operational 2.6 B CFFO1 produced by strong operations in a volatile market excellence driving financial results Delivered robust operating cost performance across Oil & Gas, with International…
4 OUTLINE Second Quarter Highlights Debt Reduction Progress Financials Closing Comments Marco Polo
SECOND QUARTER HIGHLIGHTS 5 STRONG MOMENTUM CONTINUES THROUGH 2Q25 Oil & Gas Midstream 1,400 +206 MM Mboed Total Adjusted Pre-Tax Income Company Production Outperformance Financial Balance Sheet 2.6 B 950 MM Operating Cash…
LEVERAGING TECHNICAL EXPERTISE FOR 6 ENDURING U.S. ONSHORE COST REDUCTIONS 19% Artificial Lift 2025E Domestic Operating Cost Failure Reduction Well remediation improvements, chemical Reduction Drivers optimization, and enhanced…
CONTINUED EFFICIENCY MOMENTUM 7 LEADING TO FURTHER CAPITAL REDUCTION 200 MM vs. original 2025 capital plan 13% vs. 2024 average well cost Additional 100 MM capital Lower 1H25 average well costs reduction from prior guidance for…
Trains 1 & 2 (250 KTPA capacity) STRATOS ADVANCING 8 34 Air Contactors TO CAPTURE CO2 52 Pellet Reactors ON TRACK FOR 2025 START-UP Achievements: Completed construction for Trains 1 & 2 and Central Processing facilities…
9 OUTLINE Second Quarter Highlights Debt Reduction Progress Financials Closing Comments Marco Polo
DEBT REDUCTION PROGRESS AHEAD OF 10 SCHEDULE WITH MANAGEABLE MATURITY RUNWAY 7.5 B of debt repaid in 13 months, reducing annual interest expense by 410 MM Announced 950 MM of additional divestitures since 1Q251 Delivering on Debt…
11 OUTLINE Second Quarter Highlights Debt Reduction Progress Financials Closing Comments DAC STRATOS Marco Polo
FINANCIALS 12 SECOND QUARTER 2025 RESULTS Reported Reported Production versus Mboed Guidance Midpoint Reconciliation Adjusted diluted EPS1 0.39 ROCKIES Base production outperformance and higher +5 Reported diluted EPS1 0.26…
FINANCIALS 13 THIRD QUARTER AND FULL-YEAR 2025 GUIDANCE OIL & GAS 3Q25 FY 2025 MIDSTREAM2 3Q25 FY 2025 Total Company Production (Mboed) 1,415 - 1,455 1,400 - 1,430 Pre-tax Income (140) - (40) MM (100) - 50 MM Permian Production (Mboed)…
14 OUTLINE Second Quarter Highlights Debt Reduction Progress Financials Closing Comments Ingleside Marco Polo
DIFFERENTIATED VALUE PROPOSITION 15 Oxys premier diversified assets and distinguished operational capabilities create a runway for sustainable shareholder value accretion Operational Excellence High Quality Portfolio Low-Carbon…
16 Appendix
17 APPENDIX 2025 Initiatives Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
2025 ONGOING FOCUS 18 Maintain Production Base CASH FLOW Preserve asset base integrity PRIORITIES and longevity Sustainable & Growing Dividend Apply technical and Through-the-cycle sustainability operational excellence to with…
2025 FOCUS ON OPERATIONAL EXCELLENCE & INNOVATION 19 Blending technical expertise with a forward-thinking approach to maximize value Pushing technical limits in Relentless pursuit of Applied AI Center of Pioneering low carbon…
20 APPENDIX 2025 Initiatives Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
2026 NON-OIL AND GAS CASH FLOW INFLECTION 21 TO IMPROVE RESILIENCY 1.5 B 2027 IMPROVEMENT Poised to benefit from 1.0 B 2026 FCF inflection, through combination of incremental EBITDA and capital roll-off from non-oil and gas…
FINANCIAL INFORMATION 22 CASH FLOW SENSITIVITIES OIL & GAS MIDSTREAM & MARKETING Annualized cash flow changes 265 MM per 1.00 / Annualized cash flow changes 60 MM per 0.25 / bbl bbl change in oil prices change in Midland to MEH…
FINANCIAL INFORMATION 23 DILUTED SHARE COUNT EXAMPLE Basic Shares Outstanding + Incremental Diluted Shares = Total Diluted Outstanding Shares Incremental diluted shares include June 2020 warrants, Berkshire Hathaway warrants, and…
24 APPENDIX 2025 Initiatives Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
OIL & GAS UPDATE 25 DOMESTIC ONSHORE ACTIVITY PLAN UPDATE PERMIAN 2025 ACTIVITY ROCKIES 2025 ACTIVITY 3.5 B 22 Gross 15 Net 515 - 565 0.8 B 3 Gross 2 Net 100 - 120 Capex Rigs Rigs Wells Online Capex Rigs Rigs Wells Online 100% OBO…
OIL & GAS UPDATE 26 LEADING DELAWARE BASIN WELL PERFORMANCE AVERAGE 6-MONTH CUMULATIVE OIL BY OPERATOR1 AVERAGE 12-MONTH CUMULATIVE OIL BY OPERATOR2 Oxy is 45% above the 6-month basin average Oxy is 41% above the 12-month basin…
HIGH-QUALITY OPERATED INVENTORY INCREASED DESPITE 27 U.S. ONSHORE DRILLING OR DIVESTING 1,200 LOCATIONS DEVELOPMENT…
OMAN NEW VALUE ENHANCEMENT OPPORTUNITIES 28 BLOCK 53 MUKHAIZNA CONTRACT EXTENSION TO 2050 BLOCK 27 BLOCK 30 Expected to deliver significant value while supporting Omans key national objectives BLOCK 62 Potential to grow resources…
29 APPENDIX 2025 Initiatives Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
OXYS COMBINED INTEGRATED PORTFOLIO 30 Oil & Gas OxyChem Oxy Midstream Focused in world class Leading manufacturer of Integrated infrastructure and basins with a history of basic chemicals and marketing provide access to maximizing…
OXYCHEM 2,500 Pre-Tax Income 31 MARKET LEADING POSITION 2,000 23 owned facilities worldwide 1,500 MM Integrated assets capture benefits of favorable market conditions 1,000 Top-tier global producer in every principal 500…
MIDSTREAM & MARKETING 32 PHYSICAL MIDSTREAM & LCV BUSINESSES GUIDANCE RECONCILIATION 2Q25 income exceeded guidance due to higher sulfur prices from Al Hosn; 3Q25 guidance 2Q25 Guide 2Q25 Actuals 3Q25 Guide reflects seasonally…
ONE OF THE LARGEST U.S. ACREAGE HOLDERS 33 9.0 MM Net Total U.S. Acres ROCKIES 0.6 MM ACRES PERMIAN 2.9 MM ACRES POWDER RIVER UNCONVENTIONAL 0.1 MM POWDER RIVER 1.5 MM DJ BASIN CONVENTIONAL 0.5 MM 1.4 MM Excludes acreage…
U.S. ONSHORE OVERVIEW 34 2Q25 NET PRODUCTION ROCKIES Oil NGLs Gas Total 0.6 MM ACRES (Mbod) (Mbbld) (MMcfd) (Mboed) Permian 410 196 982 770 Rockies & Other Dmstc. 88 74 659 272 Total 498 270 1,641 1,042 OPTIMIZED ADVANCED…
GULF OF AMERICA OVERVIEW 35 ALABAMA GULF OF AMERICA MISSISSIPPI TOTAL ACREAGE 0.9 MM TEXAS LOUISIANA 2Q25 NET PRODUCTION MARLIN Oil (Mbod) 106 HORN MOUNTAIN NGLs (Mbbld) 9 HOLSTEIN Gas (MMcfd) 60 BOOMVANG…
INTERNATIONAL OVERVIEW 36 UAE1 2Q25 NET PRODUCTION 2.5 MM ACRES Oil NGLs Gas Total (Mbod) (Mbbld) (MMcfd) (Mboed) Algeria & Other Intl. 26 3 14 31 Al Hosn 14 26 263 84 Dolphin 7 8 162 42 Oman 66 - 60 76 ALGERIA OMAN Total 113…
37 APPENDIX 2025 Initiatives Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
UNLOCKING LEADING POSITION WITH PELICAN HUB 38 1PointFive signs 25-year carbon offtake agreement with CF Industries-JERA-Mitsui JV Approximately 60 million metric tons of CO2 emissions annually from AGREEMENT HIGHLIGHTS existing…
39 APPENDIX 2025 Initiatives Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
ABBREVIATIONS AND DEFINITIONS 40 Abbreviations AI Artificial Intelligence EPA Environmental Protection Agency MMBTU Million British Thermal Units B Billion FID Final Investment Decision MTM Mark to Market BBL Barrel FY Full Year OBO…
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