On March 25, 2026, Chevron Corporation's Board of Directors approved amendments to its By-Laws, which are now effective immediately. The changes primarily focus on the election process for the Chairman and the Lead Director positions, now designated to be elected by non-employee Directors rather than independent Directors. This adjustment comes in light of the recent acquisition of Hess Corporation, which has introduced a non-employee Director, John Hess, who does not meet the NYSE's definition of an independent director due to certain transactions related to the acquisition. The amendments aim to ensure that the Board remains compliant with NYSE requirements while allowing Mr. Hess to fully participate in Board activities. The Board believes that these changes will enhance governance and operational execution, ultimately benefiting shareholders. The filing also includes financial statements and exhibits related to the amendments, reinforcing Chevron's commitment to transparency and effective governance practices.

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