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Occidental Petroleum Rights Agreement

Our Establishment Certificate authorizes our Board of Directors to issue a new set of preferred shares without shareholder consent. Depending on the rights and conditions of each new series created, and the market reaction to the series, your rights or the value of your common stock could be negatively affected. For example, subject to applicable law, our Board of Directors could create a series of preferred shares with preferential rights on dividends or assets in the event of liquidation or with higher voting rights on our existing common shares. The ability of our Board of Directors to create this new set of preferred shares could also prevent or delay a third party from acquiring us, even though it would benefit our bondholders and shareholders. Occidental said Friday that it would make a shareholder rights offer, often known as the “poison pill,” because it aims to prevent acquisitions by watering down the ownership interests of an enemy party. Icahn now owns nearly 10% of the company`s shares, he said this week, and has been agitating for changes to Oxy`s board after the Anadarko deal. Link refers to mortgages, mortgages, mortgages, principal interest, collateral interest, conditional sale or a similar property reserve agreement, or a similar charge for guaranteeing the debt of borrowed money, but without (i) any security interest that a lessor may have under a lease agreement and (ii) all the rights that can be taken into account. subordination contract. On April 15, 2020, Occidental paid the quarterly dividend on its Series A preferred share in the form of shares of the Western common stock. As of March 31, 2020, 17,274,130 common shares have been issued to the holders of the Series A preferred share, in accordance with the Certificate of Designation of August 8, 2019 establishing the relative powers, preferences, rights, qualifications, limitations and limitations of the Series A preferred action. This prospectus supplement records the resale of such common shares by the following selling shareholders.

If the amendment would adversely alter or alter the powers, preferences or special rights of one or more categories of preferred shares, but not of the entire class, only the shares of the relevant series are entitled to vote on the amendment.

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