Chevron Highlights 2015 Performance and Future Plans at Annual Meeting of Stockholders

Chevron Corporation (NYSE: CVX) today provided an overview of the company’s 2015 operational and social performance and how the company is managing through current market conditions at its 2016 Annual Meeting of Stockholders in San Ramon, California.

“Low oil and natural gas prices made 2015 a challenging year for Chevron and the oil and gas industry,”

said John Watson, chairman of the board and chief executive officer.

“Chevron is taking significant actions to ensure we are well placed to emerge from this challenging operating environment in a position of strength.”

chevWatson also reiterated the company’s focus on completing major projects under construction, enabling reduced spend and production growth, which will improve free cash flow. Additionally, Chevron is selectively growing in the lower price environment, while continuing a strong and diverse portfolio of Upstream and Downstream assets that position Chevron well for the future.

    Stockholders voted on 12 items.

As reported during the meeting, the preliminary report of the Inspector of Elections was as follows:
Item 1: An average of 96 percent of the votes cast were voted for each of the 10 nominees for election to the board of directors.
Item 2: Approximately 99 percent of the votes cast were voted to ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the company.
Item 3: Approximately 54 percent of the votes cast were voted to approve, on an advisory basis, the compensation for the company’s named executive officers.
Item 4: Approximately 90 percent of the votes cast were voted to approve an amendment to the Chevron Corporation Non-Employee Directors’ Equity Compensation and Deferral Plan.
Item 5: Approximately 73 percent of the votes cast were voted against the stockholder proposal regarding a report on lobbying.
Item 6: Approximately 92 percent of the votes cast were voted against the stockholder proposal regarding targets to reduce greenhouse gas emissions.
Item 7: Approximately 59 percent of the votes cast were voted against the stockholder proposal regarding a climate change impact assessment.
Item 8: Approximately 93 percent of the votes cast were voted against the stockholder proposal regarding a report on reserve replacements.
Item 9: Approximately 96 percent of the votes cast were voted against the stockholder proposal to adopt a dividend policy.
Item 10: Approximately 69 percent of the votes cast were voted against the stockholder proposal regarding a report on shale energy operations.
Item 11: Approximately 81 percent of the votes cast were voted against the stockholder proposal to recommend an independent director with environmental expertise.
Item 12: Approximately 70 percent of the votes cast were voted against the stockholder proposal to set meetings threshold at 10 percent.
Final voting results will be reported on a Form 8-K, which will be filed with the U.S. Securities and Exchange Commission and available at www.chevron.com.
Specific information about the proposals before Chevron stockholders this year may be found in the Investor Relations section of the company’s website under Stockholder Services – “Annual Meeting Materials.”
Source: Chevron Corporation
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