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We believe that the Company could lead and thrive in the energy transition.

However, instead of negotiating a swift, reasonable, and comprehensive settlement with the affected Ecuadorian communities, management has pursued a costly and protracted legal strategy that has lasted more than two decades.

Finally, the proposal posits that a different Board leadership structure is necessary to address climate change risks and operational risks around the world.

Energy production, development and consumption is a critical public policy issue.

Senior Chevron staff annually review trade association memberships to consider their value to the business.

This Proposal earned the support of 35% of shares voted in 2019, representing approximately $54 billion in shareholder value.

Reducing Scope 3 emissions, the vast majority, is essential to limiting global heating.

Petrochemical facilities like ethane crackers and polyethylene processing plants produce dangerous pollutants including benzene (a known carcinogen), Volatile Organic Compounds, and sulfur dioxide.

Markets require information to operate and deploy capital effectively.

We intend to conduct our exit in a planned and orderly manner, and while doing so, we will continue to meet our commitments and support the humanitarian needs of local communities.

Chevron is committed to periodic re-evaluation and assessment to continue to identify additional business practices to enhance diversity, equity and inclusion.