2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 144 CHEVRON CORPORATION COMPASS MINERALS INTERNATIONAL DARLING INGREDIENTS, INC. EBAY ELECTIONOFDIRECTORS Theseskills,experiences,andexpertisearecriticaltotheBoard’sabilitytoprovideeffectiveoversightoftheCompanyandaredirectly relevanttoChevron’sbusiness,strategy,andoperations. CEO/SeniorExecutive/Leaderof SignificantOperations • Chevronemploysmorethan48,000employeesinbusinessunitsthroughouttheworld. Chevron’s operations involvecomplexorganizations and processes, strategicplanning, andriskmanagement. Science/Technology/Engineering/ Research/Academia • TechnologyandengineeringareatthecoreofChevron’sbusinessandarekeytofinding, developing, producing, processing, and refining oil and natural gas. Our business processesarecomplexandhighlytechnical. Government/Regulatory/Legal/ PublicPolicy • Chevron’s operations require compliance with a variety of regulatory requirements in numerous countries and involve relationships with various governmental entities and nongovernmentalorganizationsthroughouttheworld. Finance/FinancialDisclosure/ FinancialAccounting • Chevron’sbusinessismultifacetedandrequirescomplexfinancialmanagement,capital allocation,andfinancialreportingprocesses. GlobalBusiness/InternationalAffairs • Chevronconductsbusinessaroundtheglobe.Ourbusinesssuccessisderivedfroman understandingofdiversebusinessenvironments,economicconditions,andculturesand abroadperspectiveonglobalbusinessopportunities. Environmental • Weplacethehighestpriorityonthehealthandsafetyofourworkforceandprotectionof our assets, communities, and the environment. We are committed to continuously improving our environmental performance and reducing the potential impacts of our operations. TheBoardseekstoachievediversityofage,gender,andethnicityandrecognizestheimportanceofBoardrefreshmenttoensurethatit benefitsfromfreshideasandperspectives.ThefollowingchartsdemonstratetheBoard’scommitmenttodiversityofbackgroundsand Boardrefreshment.SincethelastAnnualMeeting,theBoardelectedMessrs.FrankandUmplebytotheBoard. 40% Diversity Women Ethnically Diverse 30% 40% 30% 20% 20% 60% 0 – 3 Years 4 – 8 Years >8 Years Board Tenure as of May 30, 2018 Strong Board Diversity Strong Board Refreshment ChevronCorporation—2018ProxyStatement 3 BoardSnapshot 3 3 3 <6 6-9 10-9 #ofyears Tenure 33% with5 yearsor less 67% with10 yearsor less Average tenure:7years 3 2 1 1 2 51-55 71-75 66-70 61-65 56-60 Averageage:61 Age Independence Women EthnicDiversity BornOutsideof theU.S. 8 independent directors 2 women directors 2 womenBoard commi�ee chairs 1 AfricanAmerican director 1 La�nAmerican director 1 AfricanAmerican Board commi�ee chair 3 directorsbornoutsideof theU.S. 89% 22% 22% 33% CorporateGovernanceHighlights OurBoardofDirectorsplacesgreatvalueonstronggovernancecontrolsandregularlyevaluatesandimplements emergingbestpractices.Setforthbelowarekeyhighlightsofourcorporategovernancepracticesthatarefurtherdiscussed beginningonpage15ofthisProxyStatement: • OurBoardbelievesitisappropriatelysizedwithninemembers. • OurBoardannuallyreviewsitssizeandcompositionandassessesitsabilitytofunctioneffectivelyandwith appropriateexpertiseanddiversity.WiththeOctober2016acquisitionofaBraziliancompany,theBoarddecidedto increaseitssizetoaddadirectorwithBrazilianagriculturalexperience.InFebruary2017,theBoardappointed ValdemarL.FischertotheBoardandhewaselectedbystockholdersatour2017annualmeetingofstockholders. • OurBoardleadershipconsistsofaLeadIndependentDirectorandindependentdirectorsservingasallBoard committeechairs.OurLeadIndependentDirectorhasastrongroleandsignificantcorporategovernance responsibilities,includingcoordinatingwithourChiefExecutiveOfficer(our“CEO”)onBoardmeetingagendasand approvaloffinalagendas. • In2017,ourBoardupdatedourCorporateGovernanceGuidelinestoincludeasuccessionplanforourLead IndependentDirector. • AllofourdirectorsexceptourCEOareindependentwithvaryingdegreesoftenureonourBoard. iii Total of 02 pages in section CorporateGovernance OurBoardhasadoptedguidelinessettingforthcertaincategoriesoftransactions,relationships,and arrangementsthatithasdeemedimmaterialforpurposesofmakingitsdeterminationregardingadirector’s independence,anddoesnotconsideranysuchtransactions,relationships,andarrangementsinmakingits subjectivedetermination. 11ofour13DirectorsareIndependent Independence GenderDiversity Independent Non - Independent Female Male Minority representation People ofColor Caucasian Tenure > 12 years 1 - 3 years 4 - 12 years OurBoardhasdeterminedthateachofthefollowingdirectorsisindependentunderthelistingstandardsof TheNASDAQStockMarketandundereBay’sCorporateGovernanceGuidelines: • FredD.AndersonJr. • AdrianeM.Brown • DianaFarrell • AnthonyJ.Bates • LoganD.Green • BonnieS.Hammer • KathleenC.Mitic • PierreM.Omidyar 6 PROPOSAL 1 – ELECTION OF DIRECTORS Introduction OurcurrentBoardconsistsoftenmembers.ThenominatingandcorporategovernancecommitteerecommendedandtheBoard approvedthenominationofthefollowingtennomineesforelectionasdirectorsattheAnnualMeeting:CharlesAdair,D.EugeneEwing, LindaGoodspeed,DirkKloosterboer,MaryR.Korby,CynthiaPharrLee,CharlesMacaluso,GaryW.Mize,MichaelE.RescoeandRandall C.Stuewe.EachofthedirectornomineescurrentlyservesontheBoardandwaselectedbythestockholdersatour2017AnnualMeet- ingofStockholders. AttheAnnualMeeting,thenomineesfordirectoraretobeelectedtoholdofficeuntilthenextannualmeetingofstockholdersanduntil theirsuccessorshavebeenelectedandqualified.Eachofthenomineeshasconsentedtoserveasadirectorifelected.Ifanyofthe nomineesbecomeunableorunwillingtostandforelectionasadirector(aneventnotnowanticipatedbytheBoard),proxieswillbe votedforasubstituteasdesignatedbytheBoard.Thefollowingsetsforthinformationregardingtheage,genderandtenureofthe Boardnomineesasawhole. 6 5 4 3 2 1 0 50s 60s 70s AGE 3 women 7 men GENDER DIRECTOR TENURE 0-4 5-9 10-16 yrs. yrs. yrs. 5 yrs. AverageDirector Tenure 7 30% women 1 2 12 2018ProxyStatement