California Resources Corporation Schedules Virtual Carbon Storage Update

California Resources Corp. (NYSE: CRC) announced today that it will hold a virtual Carbon Storage Update on Wednesday, October 6, 2021, at 1 p.m. ET (10 a.m. PT). Adoption of carbon capture technologies is critical to achieving greenhouse gas emission reduction goals around the world. This event will provide details on the launch of CRC's Carbon TerraVault I, a carbon capture and storage (CCS) project focused on the capture and permanent storage of carbon dioxide (CO₂) emissions, an update on CalCapture, the carbon capture, utilization, and storage (CCUS) project focused on the capture and utilization of CO₂ for additional enhanced recovery, and an insight into CRC's strategic carbon capture advantage and efforts to aid the energy transition in the State of California. Participants are encouraged to preregister for the virtual Carbon Storage Update here or can access the webcast in the Investor Relations section on www.crc.com on the day of the event.

About California Resources Corporation (CRC)

California Resources Corp. (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.

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Joanna Park (Investor Relations)
818-661-3731
Joanna.Park@crc.com

Richard Venn (Media)
818-661-6014
Richard.Venn@crc.com