The star showed off a gorgeous embroidered Dior cape dress that featured several names stitched down one side.
"I wanted to recognize the women who were not recognized for their incredible work this year in a subtle way," she told the Los Angeles Times' Amy Kaufman, showing it off in a video posted to Twitter.
Controversy erupted this year when the Academy Awards nominations for Best Director featured no women. This is the second year in a row the category has only included male nominees.
Natalie's dress featured the names of Greta Gerwig (Little Women), Lulu Wang (The Farewell), Marielle Heller (A Beautiful Day in the Neighborhood), Lorene Scafaria (Hustlers) and Mati Diop (Atlantics), among others.
Martin Scorsese (The Irishman), Todd Phillips (Joker), Sam Mendes (1917), Quentin Tarantino (Once Upon a Time... in Hollywood) and Bong Joon-ho (Parasite) were nominated in the category this year. While Greta is up for Best Adapted Screenplay, many were upset that she hadn't been included among the other male nominees.