CRC Recognized With Leadership Level Ranking for 2021 Climate Disclosure by CDP for the Third Year in a Row

SANTA CLARITA, Calif.–(BUSINESS WIRE)–California Resources Corporation (NYSE: CRC) received an A- from CDP for its 2021 climate disclosure, securing a top score at CDP’s Leadership Level for the third year in a row. Once again, CRC received the highest ranking among all U.S. oil and gas companies, tying for first with one other U.S.-based E&P with global operations. Scoring at CDP’s Leadership Level for three years in a row further highlights CRC’s value as a differentiated and dependable low carbon intensity E&P producer in California.

Mac McFarland, CRC’s President and CEO, stated, “We are extremely pleased with CDP’s ranking of our 2021 climate disclosure. Achieving a leadership level ranking for three years in a row validates CRC’s consistent approach to Environmental, Social and Governance (ESG) matters, as well as our emphasis on fostering a culture of safety and transparency. We remain focused on safely, responsibly and sustainably meeting California’s energy demand today, and leveraging our position to contribute to decarbonizing California in the future.”

Chris Gould, EVP and Chief Sustainability Officer, continued, “Our recently announced 2045 Full-Scope Net Zero Goal and 2030 Sustainability Goals, as well as the carbon management opportunities within our portfolio, are strategic differentiators among global and North American energy producers. We are committed to advancing our carbon capture and storage, and solar projects to help California achieve its leading climate ambitions and energy transition efforts.”

CDP is an international non-profit that developed a robust global evaluation and scoring system to assess the world’s companies on their environmental transparency and performance. CDP scoring measures the comprehensiveness of disclosure, awareness and management of environmental risks, and best practices associated with environmental leadership, such as setting ambitious and meaningful targets. The complete list of ratings of companies from around the world can be found at www.cdp.net/en/companies/companies-scores.

For more information about ESG at CRC, please visit our Sustainability page at www.crc.com/ESG.

About CDP

CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. The world’s economy looks to CDP as the gold standard of environmental reporting with the richest and most comprehensive dataset on corporate and city action.

About California Resources Corporation (CRC)

California Resources Corporation (CRC) is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing carbon capture and storage (CCS) and other emissions reducing projects.

Contacts

Joanna Park

Investor Relations

818-661-3731

Joanna.Park@crc.com

Richard Venn

Media

818-661-6014

Richard.Venn@crc.com

Urban Paul

HSE & Sustainability

661-412-5100

Urban.Paul@crc.com