DIRECT AIR CAPTURE FAST FACTSREMOVING CO2 FROM THE ATMOSPHEREAccording to the Intergovernmental Panel on Climate Change (IPCC), Direct Air Capture (DAC) technology will be critical in helping limit global warming to 1.5 degrees Celsius (1.5° C) by 2050. Oxy is leading the effort in the United States for the industrial-scale commercialization of DAC� which will combine proven technologies to create the negative emissions necessary for achieving net zero and meeting global climate goals.

Carbon Engineering Innovation Centre

Direct Air CaptureDAC refers to a process that reduces atmospheric concentrations of CO2 using an engineered, mechanical facility. These facilities will be composed of banks of large air contactor systems that resemble the cooling towers one might find in a power plant. Air laden with atmospheric CO2 is pulled into the facility, where CO2 is captured, and the scrubbed air is released back into the atmosphere.

Mission-Critical Capability Limiting global warming to 1.5° C by 2050 presents some key challenges. First, a significant amount of CO2 is already in the air. Second, some industries, such as maritime shipping, aviation and others, are tough to decarbonize. That’s what makes DAC so exciting; this new technology extracts CO2 from anywhere on the planet no matter how it got there. And it’s a good thing, because the 1.5° C goal means we’ll need to remove 15 Gigatonnes of CO2 from the atmosphere annually.

How the Technology WorksMuch like a tree absorbing CO2 via photosynthesis, DAC units pull air into the system and extract CO2 from the air using a series of chemical reactions and clever engineering. The unit’s intake system resembles a cooling tower with a series of fans. These fans bring air into contact with a special potassium hydroxide solution that binds CO2 molecules to it, trapping them in the liquid. Trapped CO2 is then put through a series of chemical processes to increase concentration while purifying and compressing it—delivering it in gaseous state ready to be stored in safe, permanent geologic structures deep underground or used as a product or process feedstock.

• Fast, High-Volume Removal Just one of these systems can remove 1 million tonnes of CO2 annually—a valuable assist to the planet’s inherent natural systems.

• Small Facility Footprint DAC facilities don’t take up much space and complement nature-based climate solutions, which can require almost 3000x the footprint to achieve comparable volumes of captured CO2.

• Scalability Made from proven technologies and innovative engineering, DAC facilities can be built and scaled to meet global reduction objectives.

• Carbon Flexibility With abundant geologic storage options, DAC is an innovative technology that can remove CO2 from the atmosphere and help achieve our shared climate goals.

This brochure contains forward-looking statements based on Oxy’s current expectations, beliefs, plans and forecasts. All statements other than statements of historical fact are forward-looking statements. These statements are not guarantees of future performance as they involve assumptions that may prove to be incorrect and involve risks and uncertainties. Factors that may affect Oxy’s business can be found in Oxy’s filings with the U.S. Securities and Exchange Commission (SEC), which may be accessed at the SEC’s website, www.sec.gov.

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DECARBONIZATION THROUGH COLLABORATIONTaking on a challenge this big demands teamwork. Oxy serves as a key investor in Canada-based Carbon Engineering, which pioneered this groundbreaking technology. Oxy also created 1PointFive, a development company focused on the commercialization of DAC facilities to achieve large-scale carbon removal. 1PointFive holds a license to Carbon Engineering’s technology.