Corporate Fact Sheet | March 2011

Corporate Fact Sheet

Global Snapshot

Second-largest integrated energy company in the United States and among the largest corporations in the world, based on market capitalization as of Dec. 31, 2010 Business activities around the world Diverse and highly skilled global workforce consists of approximately 58,000 employees and about 4,000 service station employees Capital and exploratory expenditures Invested $21.8 billion in 2010; announced 2011 projected outlays of $26 billion, with continued focus on exploration and production

Financial Highlights 2010

Sales and other operating revenues $198 billion Net income attributable to Chevron Corporation $19 billion, or $9.48 per share diluted Return on capital employed 17.4 percent Return on average stockholders' equity 19.3 percent Cash dividends $2.84 per share

Accomplishments 2010 Upstream

Exploration Achieved an exploration drilling success rate of 57 percent. Results included several natural gas discoveries offshore Western Australia. Additionally, acquired offshore exploration leases in China, Liberia, Turkey and the United States and captured shale gas acreage in Canada, Poland and Romania. Production Produced 2.763 million net oil-equivalent barrels per day, approximately a 2 percent increase over 2009, with about 75 percent of the volume outside the United States in more than 20 different countries. Acquisition Announced plans to acquire Atlas Energy, Inc., providing a shale gas acreage position in the Marcellus Shale, primarily in southwestern Pennsylvania. (Acquisition completed in February 2011.) Major projects o o Continued progress on the company's development projects to deliver future production growth. Achieved first production at the deepwater Perdido Regional Development Project and the Athabasca Oil Sands Project Expansion and continued to increase production at the Tengizchevroil Sour Gas Injection/ Second Generation Plant project in Kazakhstan. The company also reached final investment decision on a number of major capital projects, including Jack/St. Malo, Big Foot and Tahiti 2 in the Gulf of Mexico; Papa-Terra in Brazil; and expansion of the Caspian pipeline in Kazakhstan and Russia. Delivered first gas from the Escravos Gas Project Phase 3A in Nigeria. In Australia, continued construction on Barrow Island and awarded approximately $25 billion of contracts for materials and services for the Gorgon Project. The company also executed additional binding and nonbinding agreements with Asian customers for the delivery of liquefied natural gas from the Gorgon and Wheatstone projects.

Natural gas projects o o o

www.chevron.com
2011 Chevron Corporation. All rights reserved.

Corporate Fact Sheet | 1

Downstream

Refinery upgrades Completed project startups, including the Pascagoula, Mississippi, refinery continuous catalytic reformer and the Yeosu, South Korea, gas-oil hydrocracker. Construction also began on a processing unit designed to further improve the El Segundo, California, refinery's reliability, high-value product yield and flexibility to process a range of crude slates. Chemical Commenced operations on the ethylene cracker and polyethylene/normal alpha olefins plants in Qatar. Continued construction on a petrochemical project in Saudi Arabia with startup expected in late 2011. Sales of nonstrategic assets Sold a 23.4 percent ownership interest in Colonial Pipeline in the United States. Additionally, concluded the sales of businesses in Malawi, Runion and Zambia and 21 product terminals.

Corporate Strategies

Financial-return objective Create stockholder value and achieve sustained financial returns from operations that will enable Chevron to outperform competitors. Enterprise strategies Invest in people to strengthen organizational capability and develop a talented global workforce that gets results the right way. Execute with excellence through rigorous application of the company's operational excellence and capital stewardship systems and disciplined cost management. Grow profitably by using our competitive advantages to maximize value from existing assets and capture new opportunities. Major business strategies Upstream grow profitably in core areas, build new legacy positions and commercialize the company's equity natural gas resource base while growing a high-impact global gas business. Downstream improve returns and grow earnings across the value chain. The company also continues to utilize technology across all its businesses to differentiate performance and to invest in profitable renewable energy and energy efficiency solutions.

Updated: March 2011

CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This page from Chevron.com 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 such as anticipates, expects, intends, plans, targets, projects, believes, seeks, schedules, estimates, budgets 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, some 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 forwardlooking statements, which speak only as of the date of this report. 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: changing crude oil and natural gas prices; changing refining, marketing and chemical margins; 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 equity affiliates; 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 net production or manufacturing facilities or delivery/transportation networks due to war, accidents, political events, civil unrest, severe weather or crude oil production quotas that might be imposed by the Organization of Petroleum Exporting Countries; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant investment or product changes under existing or future environmental statutes, regulations and litigation; the potential liability resulting from

www.chevron.com
2011 Chevron Corporation. All rights reserved.

Corporate Fact Sheet | 2

www.chevron.com

other pending or future litigation; the companys future acquisition or disposition of assets and gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; and the factors set forth under the heading Risk Factors in Chevrons Annual Report on Form 10-K for the year ended December 31, 2010. In addition, such statements could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed in Chevrons Annual Report on Form 10-K for the year ended December 31, 2010 could also have material adverse effects on forward-looking statements. CHEVRON, the CHEVRON HALLMARK, CALTEX, TEXACO, DELO, HAVOLINE, ISOCRACKING, ISODEWAXING, ISOFINISHING, POWER DIESEL, REVTEX, STAR MART, STAR LUBE, TECHRON, TOWN COUNTRY, URSA, and XPRESS LUBE are registered trademarks of Chevron Intellectual Property LLC.

www.chevron.com
2011 Chevron Corporation. All rights reserved.

Corporate Fact Sheet | 3

www.chevron.com