Chevron Endows Chair in Energy Efficiency at the University of California, Davis

Chair to lead new advances in energy efficiency; endowment furthers Chevron commitment to conservation and efficiency

SAN RAMON, Calif. - Chevron Corporation (NYSE: CVX) today announced a $2.5 million endowment for a permanent chair to head the Energy Efficiency Center (EEC) at the University of California, Davis (UC Davis).

The Chevron Chair in Energy Efficiency will direct the world’s first university center of excellence in energy efficiency, created at UC Davis in 2006. The center is focused on developing and commercializing advanced technologies to enable energy efficiency in buildings, agriculture and transportation.

“Advancing energy efficiency, which is the cheapest, cleanest and most abundant form of new energy, is critical to the challenge of meeting the world’s growing energy needs,” said John McDonald, Chevron vice president and chief technology officer. “California has been a pacesetter in energy efficiency, so it’s fitting that one of the state’s leading universities and California’s largest company should partner on the next generation of energy efficiency.”

The Chevron Chair will expand the impact of the center’s research programs through interdisciplinary collaboration, education, outreach and commercialization of technologies. The Chevron Chair will focus on developing strong links with state and federal government, as well as with international programs, to advance energy efficiency.

“Chevron’s endowment will ensure long-term strategic leadership for the Energy Efficiency Center,” said Larry Vanderhoef, UC Davis chancellor. “By bridging long-term research with real-world applications, the director will guide the center in its goal of commercializing groundbreaking technologies, powering economic progress and helping to conserve resources.”

Chevron develops energy efficiency and renewable power projects for public institutions and businesses through its subsidiary, Chevron Energy Solutions. The endowment for the Chevron Chair complements Chevron’s ongoing support for UC Davis, which includes a $500,000 grant for the EEC announced in 2008 and a $25 million biofuels collaboration developing technology to convert non-food agricultural waste into next-generation transportation fuels.

“Chevron is a proven leader in energy efficiency,” said Ralph Cavanagh, Natural Resources Defense Council energy program co-director. “The Chevron Chair will be a major catalyst in moving the work of the EEC forward and making significant contributions to energy efficiency worldwide.”

Chevron Corporation is one of the world’s leading integrated energy companies, with subsidiaries that conduct business across the globe. The company’s success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

About UC Davis: For 100 years, UC Davis has engaged in teaching, research and public service that matter to California and transform the world. Located close to the state capital, UC Davis has 31,000 students, an annual research budget that exceeds $500 million, a comprehensive health system and 13 specialized research centers. The university offers interdisciplinary graduate study and more than 100 undergraduate majors in four colleges - Agricultural and Environmental Sciences, Biological Sciences, Engineering, and Letters and Science - and advanced degrees from five professional schools: Education, Law, Management, Medicine, and Veterinary Medicine. More information about UC Davis is available at www.ucdavis.edu.