Item 1A. Risk Factors

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Item 1A. Risk Factors

Some inherent risks could materially impact the company’s financial results of operations or financial condition. Information about risk factors for the three months ended March 31, 2023, does not differ materially from that set forth under the heading “Risk Factors” on pages 20 through 26 of the company’s 2022 Annual Report on Form 10-K.

**Item 2.**Unregistered Sales of Equity Securities and Use of Proceeds

CHEVRON CORPORATION

ISSUER PURCHASES OF EQUITY SECURITIES


Period	Total Number of Shares Purchased (1)(2)	Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Program	Approximate Dollar Value of Shares that May Yet Be Purchased Under the 2019 Program (2)(3) (Billions of dollars)
January 1 – January 31, 2023	6,854,681	$177.54	6,851,000	$5.7
February 1 – February 28, 2023	7,164,292	$166.99	7,151,100	$4.5
March 1 – March 31, 2023	8,399,671	$159.48	8,399,671	$3.2
Total	22,418,644	$167.40	22,401,771

(1)Includes common shares repurchased from participants in the company’s deferred compensation plans for personal income tax withholdings.

**(2)**Refer to “Liquidity and Capital Resources” for additional information regarding the company’s authorized stock repurchase programs.

(3)The 2019 Program terminated on March 31, 2023, and was replaced by the 2023 Program. Accordingly, the remaining authorization under the 2019 Program of $3.2 billion expired on March 31, 2023. Effective April 1, 2023, $75 billion of shares of common stock was available for repurchase under the 2023 Program.

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