CRC Releases 2020 Sustainability Update Detailing Performance Metrics

SANTA CLARITA, Calif.–(BUSINESS WIRE)–California Resources Corporation (NYSE: CRC) (“CRC” or the “Company”) today announced the publication of its 2020 Sustainability Update. The update provides details of CRC’s key environmental, social and governance (ESG) performance metrics as well as progress on its established 2030 Sustainability goals. Additionally, CRC has also published metrics following the guidance of the Sustainability Accounting Standards Board (SASB) and the American Petroleum Institute (API) to promote sector transparency.

Mac McFarland, President and CEO, stated, “We’ve re-evaluated our business strategy to see what more we could do to further the energy transition and are excited for the opportunities we have identified in carbon management and solar. We remain committed to extending our safety track record and continue to look for ways to further support local communities and improve our governance practices.”

Chris Gould, EVP and Chief Sustainability Officer, continued, “We are pleased with the accomplishments that we made in 2020 on environmental stewardship as we make progress on our previously set 2030 Sustainability goals which are aligned with the State of California.”

The 2020 Sustainability Update focuses on performance during 2020, 2019 and 2018 and is complemented by the new SASB and API templates. Highlights and achievements from the 2020 Sustainability Update include:

• Best-ever workforce health and safety performance
• Continued emission reductions
• Water conservation as a net water supplier
• Continued progress towards CRC’s 2030 Sustainability Goals
• Improved Board diversity

For more information about ESG at CRC, please visit our ESG page at https://crc.com/esg.

About California Resources Corporation (CRC)

California Resources Corporation (NYSE: 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. For more information about CRC, please visit www.crc.com.

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