Occidental will accept all tendered notes from 14 series offer

Chicago, Dec. 9 – Occidental Petroleum Corp. will accept all of the senior notes tendered in its offer to buy up to $2 billion total from 14 series, according to a press release.

The maximum purchase amount cap was not reached. The $2 billion total included principal and premium but excluded interest.

Occidental received the following tenders and will pay the following amounts, per $1,000 principal amount, for the 14 series:

• $40,161,000 tendered and accepted of the $151,808,000 outstanding 3.45% senior notes due 2024 (Cusip: 674599DA0) for $1,032.50, or a total purchase price of $41,466,232.50;

• $429,712,000 tendered and accepted of the $1,380,288,000 outstanding 2.9% senior notes due 2024 (Cusip: 674599CW3) for $1,023.75, or a total purchase price of $439,917,660;

• $195,029,000 tendered and accepted of the $521,392,000 outstanding 3½% senior notes due 2025 (Cusip: 674599CG8) for $1,026.25, or a total purchase price of $200,148,511.25;

• $147,798,000 tendered and accepted of the $926,419,000 outstanding 3.4% senior notes due 2026 (Cusip: 674599CH6) for $1,012.50, or a total purchase price of $149,645,475;

• $92,868,000 tendered and accepted of the $890,235,000 outstanding 3.2% senior notes due 2026 (Cusip: 674599CR4) for par, or a total purchase price of $92,868,000;

• $115,553,000 tendered and accepted of the $750 million outstanding 3% senior notes due 2027 (Cusip: 674599CM5) for $987.50, or a total purchase price of $114,108,587.50;

• $22,565,000 tendered and accepted of the $1.5 billion outstanding 3½% senior notes due 2029 (Cusip: 674599CS2) for $995, or a total purchase price of $22,452,175;

• $86,955,000 tendered and accepted of the $750 million outstanding 4.1% senior notes due 2047 (Cusip: 674599CL7) for $975, or a total purchase price of $84,781,125;

• $39,001,000 tendered and accepted of the $1 billion outstanding 4.2% senior notes due 2048 (Cusip: 674599CN3) for $982.50, or a total purchase price of $38,318,482.50;

• $57,152,000 tendered and accepted of the $750 million outstanding 4.3% senior notes due 2039 (Cusip: 674599CX1) for par, or a total purchase price of $57,152,000;

• $174,834,000 tendered and accepted of the $1,151,200,000 outstanding 4.4% senior notes due 2046 (Cusip: 674599CJ2) for $1,002.50, or a total purchase price of $175,271,085;

• $5,626,000 tendered and accepted of the $709,588,000 outstanding 4.4% senior notes due 2049 (Cusip: 674599CY9) for $1,002.50, or a total purchase price of $5,640,065;

• $17.39 million tendered and accepted of the $623,462,000 outstanding 4½% senior notes due 2044 (Cusip: 674599DK8) for $1,010, or a total purchase price of $17,563,900; and

• $115,831,000 tendered and accepted of the $750 million outstanding 4 5/8% senior notes due 2045 (Cusip: 674599CF0) for $1,020, or a total purchase price of $118,147,620.

Interest will be paid to the settlement date in addition to the tender considerations listed above.

The offers expired at 5 p.m. ET on Dec. 8, also the withdrawal deadline.

Settlement is expected for Thursday.

There are tenders for a total of $8,008,000 via guaranteed delivery procedures. The guaranteed delivery date is 5 p.m. ET on Dec. 10.

Settlement for notes tendered via guaranteed delivery procedures is expected for Dec. 13, the third business day following the expiration time. Interest will only be paid to the Dec. 9 settlement date.

Wells Fargo Securities, LLC (866 309-6316, 704 410-4759, liabilitymanagement@wellsfargo.com), BofA Securities, Inc. (980 388-3646, 888 292-0070, debt_advisory@bofa.com), Citigroup Global Markets Inc. (212 723-6106, 800 558-3745, ny.liabilitymanagement@citi.com), SMBC Nikko Securities America, Inc. (888 868-6856) and SG Americas Securities, LLC (212 278-7532, us-glfi-syn-cap@sgcib.com) are the lead dealer managers.

Global Bondholder Services Corp. (https://www.gbsc-usa.com/oxy) is the tender agent and information agent.

Occidental is a Houston oil and gas, chemical and midstream company.

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