BHE Renewables and TerraLithium Provide Community Update on Imperial Valley Lithium Development

IMPERIAL, California – October 1, 2026 – BHE Renewables and TerraLithium, a wholly owned subsidiary of Occidental, hosted a community meeting September 22 at Imperial Valley College to provide an update on progress related to their joint venture announced in 2024. The companies announced they have made progress in using TerraLithium technology to demonstrate they can recover lithium from geothermal brine in California’s Imperial Valley using an environmentally responsible method.

Representatives from both companies shared information about Direct Lithium Extraction (DLE) technology, demonstration-scale project activities and recent technical milestones achieved through the joint venture. The meeting included presentations from project leaders, a panel discussion hosted by Efrain Silva, Imperial Valley College dean of instruction, economic and workforce development. Attendees had an opportunity to ask questions and engage directly with project representatives following the presentation.

“We have achieved significant milestones in the last two years in advancing our direct lithium extraction technology and are proud to be doing this work in the Imperial Valley,” said Jeff Alvarez, president and general manager, TerraLithium. “Imperial Valley College provided an ideal venue to share information about our technology development progress in a direct and accessible way and hear questions from the community, and we appreciate everyone who took the time to participate.”

During the presentation, project representatives reviewed progress made since the previous community meeting in 2024 and highlighted several technical milestones achieved in 2026. Those milestones included the successful production of lithium chloride from geothermal brine and its subsequent processing into battery-grade lithium carbonate, as well as the direct conversion of lithium chloride into lithium hydroxide. Representatives from the companies said these achievements help validate the technology and support future engineering, scale-up assessments and project planning activities.

Attendees also received an overview of the joint venture’s approach, which combines BHE Renewables’ geothermal resources and operating experience with TerraLithium’s Direct Lithium Extraction technology and its legacy expertise in chemical processing and brine management. Project representatives explained that demonstration-scale operations are expected to continue through 2027 as the joint venture advances toward a future commercialization decision.

Presenters emphasized that future development decisions will continue to be guided by several key factors, including environmental performance, process economics and the potential benefits the project could provide to the Imperial Valley community.

“We’re grateful for the chance to share what we’re working on and hear directly from community members and stakeholders,” said Christina Fleming, senior vice president, mineral development for BHE Renewables. “Those conversations are important as we continue to study this technology and what it could mean for the future.”

About TerraLithium

TerraLithium is a wholly-owned subsidiary of Occidental that provides a technology platform for extracting lithium from geothermal and other brines to produce ultra-pure battery-grade lithium hydroxide and lithium carbonate—a more responsible way to source ultra-pure lithium. For more information visit terralithium.com.

About BHE Renewables

BHE Renewables owns solar, wind, geothermal, natural gas and hydroelectric projects that produce energy for both the wholesale market and for customers under long-term power agreements. BHE Renewables owns and operates 10 geothermal sustainable power facilities in California’s Imperial Valley. Learn more at bherenewables.com

Forward Looking Statement

This news release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including those relating to the joint venture’s benefits and Occidental’s (NYSE: OXY) and Berkshire Hathaway Energy’s (BHE) respective subsidiaries’ and the joint venture’s deployment and use of DLE and associated technologies, which are based on current expectations, beliefs, plans, estimates, and forecasts. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. Words such as “aim,” “will,” “may,” “expect,” “plan,” or similar expressions that convey the prospective nature of events or outcomes are generally indicative of forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, neither Occidental nor BHE undertakes any obligation to update, modify, or withdraw any forward-looking statements as a result of new information, future events, or otherwise.

These statements are not guarantees of future performance as they involve assumptions that may prove to be incorrect and risks and uncertainties, including those that are beyond Occidental’s and BHE’s control. Factors that may cause actual results to differ materially from forward-looking statements include Occidental’s, BHE’s, their respective subsidiaries’, and the joint venture’s ability to access necessary technology, to develop and employ existing or new technology on a commercial scale, to access capital, to execute operational objectives on a timely and successful basis, to collaborate with third parties and customers, and to receive approvals from regulatory bodies, as well as implementation of government frameworks and permitting for lithium extraction, market conditions, including commercial interest in lithium products and consumer interest in electric vehicles, geopolitical events, and scientific developments.

Additional factors that may affect the joint venture’s benefits and Occidental’s, BHE’s, their respective subsidiaries’, and the joint venture’s ability to deploy DLE and associated technologies can be found in Occidental’s and BHE’s respective filings with the U.S. Securities and Exchange Commission (SEC), which may be accessed at Occidental’s website at oxy.com, BHE’s website at brkenergy.com, or the SEC’s website at sec.gov. Information included herein is not necessarily material to an investor in Occidental’s or BHE’s securities.