Chevron Worldwide Upstream

Worldwide proved-reserves and production rollup (consolidated plus affiliated companies). YE2025 proved reserves ~10.6 BBOE, 8% above 2024 — largest additions from the July 2025 Hess Corporation acquisition, shale/tight extensions in the Permian Basin and project approvals in Australia and Guyana. 43% of net proved oil-equivalent reserves in the U.S., 15% Australia, 11% Kazakhstan. 2025 worldwide net oil-equivalent production 3.7 MMboe/d, +12% vs 2024 (Hess, TCO FGP completion, record Permian, Gulf of America ramp-up, partly offset by Canada and Republic of Congo asset sales); ~21% of 2025 production in OPEC+ countries. 2026 production estimated to increase 7-10% over 2025 at $60/bbl Brent, excluding asset sales, with full-year Hess contribution. YE2025 PUDs of 2,835 MMBOE; 800 MMBOE transferred to developed in 2025; ~396 MMBOE undeveloped >5 years (Australia ~205, Nigeria Escravos ~137).