California Resources Corp (NYSE:CRC) entered into a privately negotiated exchange agreement with certain holders of its 6% Senior Notes due 2024 and its 5 1/2 % Senior Notes due 2021 in reliance on Section 3(a)(9) of the Securities Act of 1933, as amended. The Company agreed to exchange a total of 1,261,043 shares of its common stock, par value $0.01 per share, for notes in the aggregate principal amount of $21,296,700. No commission or other remuneration was paid or given for soliciting the exchange.