California Resources Corporation announced that On December 14, 2021, the Board of Directors of the company elected Ms. Alejandra Veltmann to fill a vacancy on the Board. Ms. Veltmann will also serve the Chair of the Audit Committee of the Board. The Board determined that Ms. Veltmann qualifies as an independent director and audit committee financial expert under the applicable standards set forth in the rules and regulations of the Securities and Exchange Commission (the SEC") and the listing standards of the New York Stock Exchange (NYSE"). Ms. Veltmann, 53, has over 28 years of experience as a global financial leader of publicly-listed entities, private entrepreneurial companies and global auditing firms. Since 2018, she has served as founder, CEO and sole director of ESG Lynk, a leading sustainability reporting company. From 2015 to 2018, she was the Vice President and Chief Accounting Officer of Paragon Offshore Plc., an offshore drilling company. From 2010 to 2015, she worked in various roles including Corporate Controller and Vice President and Chief Accounting Officer at Geokinetics Inc., formerly one of the world's independent land and seafloor geophysical companies. She also worked in various auditor capacities at KPMG LLP from 1995 to 2002 and before that at Arthur Andersen LLP from 1992 to 1995. Since 2021, she has served as a director and chair of the Audit Committee for Structural Integrity Associates, a provider of life cycle engineering solutions. She has served as a Board member of The University of New Mexico Robert O. Anderson School of Management since 2018, and as an Advisory Council member of the K.B. Hutchison Center for Energy, Law & Business at The University of Texas at Austin since 2019. Ms. Veltmann is a certified public accountant and holds the FSA Credential from the Sustainability Accounting Standards Board (SASB). She has a BBA degree in Accounting from The University of New Mexico, and is an alumna of the Advanced Management Program at Harvard Business School.