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Contact: Braden Reddall, Chevron, 925-842-2209
As used in this news release, the term Chevron and such terms as the company, the corporation, our,
we, us and its may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise
description of any of the separate companies, each of which manages its own affairs.
Please visit Chevrons website and Investor Relations
page at www.chevron.com and www.chevron.com/investors, LinkedIn: www.linkedin.com/company/chevron, Twitter: @Chevron, Facebook: www.facebook.com/chevron, and Instagram: www.instagram.com/chevron, where Chevron often discloses important information
about the company, its business, and its results of operations.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR
THE PURPOSE OF SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains
forward-looking statements relating to Chevrons operations that are based on managements current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as
anticipates, expects, intends, plans, targets, forecasts, projects, believes, seeks, schedules, estimates,
positions, pursues, may, could, should, will, budgets, outlook, trends, guidance, focus, on schedule,
on track, is slated, goals, objectives, strategies, opportunities, poised, potential and similar expressions are intended to identify such
forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the companys control and are difficult to predict. Therefore,
actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news
release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: the negotiation and
execution, and the terms and conditions, of a definitive agreement relating to the proposed transaction and the ability of Chevron or NBLX to enter into or consummate such an agreement; changing crude oil and natural gas prices and demand for our
products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; public health crises, such as
pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and
international economic and political conditions; changing refining, marketing and chemicals margins; the companys ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation
initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and
financial condition of the companys suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas during the COVID-19 pandemic; the inability or failure of the
companys joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in
the development, construction or start-up of planned projects; the potential disruption or interruption of the companys operations due to war, accidents, political events, civil unrest, severe weather,
cyber threats, terrorist acts, or other natural or human causes beyond the companys control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant
operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas
emissions; the potential liability resulting from pending or future litigation; the companys ability to achieve the anticipated benefits from the acquisition of Noble Energy; the companys future acquisitions or dispositions of assets or
shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations,
industry-specific taxes, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the
receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by