Cadiz, Inc. · NASDAQ:CDZI
Cadiz — Investor Presentation (May 2024)
26 slides from Cadiz's investor presentation, May 17, 2024
Slide 1: Clean, reliable, affordable water for people
Clean, reliable, affordable water for people. Solutions Equity Environment We take a holistic We partner with Our leading-edge approach to meet communities to secure innovation sets the society’s pressing access to safe, reliable standard for needs for long-term water supplies. stewardship and Inves
Slide 2: Safe Harbor Agreement
Investor Presentation | 2024 Safe Harbor Agreement During the course of this presentation, we may make forward-looking statements. Any statement that is not a historical fact is a forward-looking statement. Forward-looking statements refer to expectations, projections or other characterizations of f
Slide 3: From one project / one customer to fully-integrated solution provider
Investor Presentation | 2024 From one project / one customer to Tomorrow Today fully-integrated solution provider. Today Fully integrated water solutions provider operating the largest Yesterday Critical water infrastructure assets groundwater banking project in the located in the fastest growing re
Slide 4: The hydrological cycle is spinning out of balance
“The hydrological cycle is spinning out of balance…” WMO State of Global Water Resources Report 2022 Droughts, extreme rainfall events, melting snow and ice… threaten long-term water security for billions of people. 4
Slide 5: California Water Transportation Network
California Water Transportation Network 5
Slide 6: Lake Mead Compared with Cadiz Aquifer
Lake Mead Compared with Cadiz Aquifer Lake Mead 250 square miles 160,000 acres 28 million acre-feet storage capacity Cadiz 2000 square miles 1.2 million acres 30-50 million acre-feet water in storage 6
Slide 7: Cadiz – Located at the bottom of 2,000 square mile closed basin
Cadiz – Located at the bottom of 2,000 square mile closed basin All groundwater passes through Fenner Gap evaporates at Bristol and Cadiz Dry Lakes. Three watersheds in Eastern Mojave Desert converge through “Fenner Gap.” More than 30 million acre-feet of water in the watershed today – larger than L
Slide 8: The Water Planet
The Water Planet 8 8
Slide 9: The End of Snow Threatens to Upend 76 Million American Lives
The problem is snow The End of Snow Threatens to Upend 76 Million American Lives 9
Slide 10: Snowpacks in the west are steadily declining
Snowpacks in the west are steadily declining Source: California Dept of Water Resources May 2024 10
Slide 11: Sierra Nevada snowpack could largely vanish by 2040s
fowomwy ggg | cen comsacenmentoce ‘WITTERCOMSACHEE SACBEE.COM California’s Sierra Nevada snowpack could largely vanish by 2040s as climate warms, scientists say 4, . (G Cadiz 4
Slide 12: Where do we store freshwater?
Snow and snowmelt make up more than half our water supply Where do we store freshwater? 30% 60% 40% Snowpack Reservoirs Groundwater 12
Slide 13: Extreme is the new normal
Extreme is the new normal 2022 2023 Western megadrought is worst in 1,200 years, California has so much snow that flood intensified by climate change. danger will last through the year. 13
Slide 14: California's climate whiplash pattern began with the 1976-77 drought
California’s climate “whiplash” pattern began with the 1976-77 drought Statewide annual precipitation (1895–2021) Source: WRCC, 2022 https://oehha.ca.gov/media/02precip.pdf May 2024 14
Slide 15: The future is rain
Gy Cadiz The future is rain. Southern Southern Central teres centtal Sierra Sierra Sierra Northern Northern Sierra Sierra SNOW MIX 15
Slide 16: Snowmelt and precipitation are moving South
Snowmelt and precipitation are moving South Source: California Dept of Water Resources Source: Data from USGS CA Dept Water Resources 16
Slide 17: Most of our water storage systems are in the North
Most of our water storage systems are in the North Source: California Dept of Water Resources Our water storage and conveyance system was designed to capture predictable Sierra snowmelt, not flash floods and atmospheric rivers Source: Data from USGS CA Dept Water Resources May 2024 17
Slide 18: Cadiz purchased existing buried natural gas pipelines to transport water
Cadiz purchased existing buried natural gas pipelines to transport water 18
Slide 19: Innovation. Evolution. Inflection.
Investor NASDAQ: CDZI Presentation | 2024 Innovation. Evolution. Inflection. Strategically Located. Revenue generating assets: The whole is much greater than the sum of the parts. Water Supply + Water Storage + Water Transport + Water Treatment • 2,000 square mile watershed • Acquired ATEC Water Sys
Slide 20: Revenue Outlook
Investor Presentation | 2024 Revenue Outlook TODAY TODAY Cash Flows from Water Projects Recurring Cash Flow Stream Water assets ready to • $45 M per year ($2024) of Projected Net Annual Cash Flow from Water capture, store and deliver Supply & Delivery Infrastructure upon full implementation, with es
Slide 21: Cap Table
Investor Presentation | 2024 Cap Table ($ in millions) 3/31/2023 Cash and cash equivalents $19.2 Senior secured (non-convertible) term loan(1) $21.2 Senior secured (convertible) term loan (2) $20.0 Senior unsecured convertible loan(3) $16.3 Series A perpetual preferred stock (CDZIP) $57.5 Common Sto
Slide 22: Appendix
IX nd e fe) p A Z i Cad ty j
Slide 23: Charge Led by Susan Kennedy
Investor Presentation | 2024 Charge Led by Susan Kennedy • Susan Kennedy leads Cadiz as Chairman of the Board and CEO • Joined Board in February 2021 and was elected Chairman in February 2022 • In January 2024, Ms. Kennedy was appointed CEO • Led a distinguished career as a policymaker and entrepren
Slide 24: Kennedy's Leadership Backed by New Board of Directors
Investor Presentation | 2024 Kennedy’s Leadership Backed by New Board of Directors Stephen E. Courter Maria Dreyfus Independent Director Independent Director • Over 30 years of experience in management positions in the • CEO and Founder of Ardinall Investment Management, focused on sustainable techn
Slide 25: Water Supply Price Appreciation
Wholesale water prices in the Southern California Water Supply Price Appreciation market have escalated at CAGR of approximately 5.8% for the past 45 years. The value of Cadiz water supply is comparable to Metropolitan Water District’s untreated imported water supply rate. So Cal Wholesale Water Pri
Slide 26: www.cadizinc.com Contacts
NASDAQ: CDZI www.cadizinc.com Contacts: Courtney Degener SVP, IR & Communications, Cadiz cdegener@cadizinc.com 213-271-1600 Shannon Devine MZ Group CDZI@MZGROUP.COM 26