HSR waiting period expires for CRC-Berry combination; deal still subject to other conditions

California Resources Corp

Hart-Scott-Rodino waiting period expired at 11:59 p.m. ET on November 10, 2025, for CRC's acquisition of Berry.
Consummation remains subject to Berry shareholder approval and FERC authorization under Section 203 of the Federal Power Act.
Transaction announced September 17, 2025; definitive proxy statement/prospectus sent to Berry stockholders.
If completed, Berry will become a direct, wholly-owned subsidiary of California Resources Corporation (CRC).

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