CRC amends credit agreement to permit up to $500M bridge loan for Petra acquisition

California Resources Corp

Second Amendment dated Feb 9, 2024 amends existing credit agreement to enable bridge loan facility.
Bridge loan facility capped at $500M less any senior unsecured note proceeds funded before acquisition close.
Financing supports acquisition of Green Gate Resources Parent (Petra) under agreement dated Feb 7, 2024.
Amendment sets bridge loan incurrence window from Feb 9, 2024 to May 7, 2025.
Existing lenders including Citibank, KeyBank, MUFG, Mizuho, RBC, TD, Deutsche Bank, Goldman Sachs, Jefferies, Morgan Stanley, BP Energy approved amendment.

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