Cadiz, Inc. · NASDAQ:CDZI
Cadiz — Investor Presentation (January 2023)
20 slides from Cadiz's investor presentation, January 2023
Slide 1: Cadiz Inc. Clean Water Solutions
Cadiz Inc. Clean Water Solutions NASDAQ: CDZI
Slide 2: Safe Harbor Agreement
Safe Harbor Agreement During the course of this presentation, we will 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 future events or circumstance
Slide 3: About Cadiz
About Cadiz Water solutions innovator delivering access to safe, clean, & affordable water to people through a combination of leading-edge innovation, unique assets, and the highest standards of environmental stewardship. • Largest private landowner in California’s Mojave Desert with ownership and c
Slide 4: Cadiz Water Conservation & Storage Project
Cadiz Water Conservation & Storage Project Conserves groundwater lost to evaporation to create a reliable, sustainable and affordable new water supply for California. Underground storage bank to store surplus water in wet years and improve management of unpredictable water supplies between wet and d
Slide 5: Cadiz: Unique Assets. Strategic Location.
Cadiz: Unique Assets. Strategic Location. CADIZ 5 5
Slide 6: Water & Climate Change
Water & Climate Change New Reality. • New water reality in the west: intense droughts, atmospheric rivers, unpredictable supply causing unreliability. • Existing water infrastructure built for a different, hydrology – no longer capable of reliably storing and delivering clean water to where its need
Slide 7: Community Impacts
Community Impacts • Over 3.2 million people in CA are served by “failing” “at-risk,” or “potentially at-risk” water systems. Failing systems do not meet drinking water quality standards. • Nearly 900,000 people get their drinking water from “failing” systems. A majority live in low-income, disadvant
Slide 8: Cadiz: Leading Water Solutions Innovator
Cadiz: Leading Water Solutions Innovator • Largest new groundwater bank in • Wholly-owned Cadiz subsidiary - ATEC Water Southern California with storage Systems offers the most effective, cost- capacity of 1 million AF, equal to the effective, and versatile water treatment technology in the Western
Slide 9: Milestones
Milestones 2021 – Cadiz completes 2012 – Santa Margarita initial engineering studies on 2023 – Agreement in 1993 – San 2019 – Cadiz signs conversion of Northern 2016 – Legal Water District and Cadiz Principle expected to be receive County authorization MOUs with multiple Public Pipeline. Pipeline co
Slide 10: What's Next
What’s Next Execute Contracts with Public Agency Partners for Pipeline Development, Operations & Water Supply Cadiz expects to enter into agreements with Public Water Agencies whereby: • Cadiz will contribute its Northern Pipeline and an annual supply of 25,000 AFY of water from Cadiz into a mutual
Slide 11: Value Proposition
Value Proposition CASH FLOWS FROM WATER PROJECTS RECURRING CASHFLOW STREAM $50 M+ of Projected Annual Cash Flow from leases of Water Conservation & Delivery Infrastructure upon full implementation. WATER STORAGE $500M of Additional Cash Flows Projected from the reservation of a minimum of 500,000 AF
Slide 12: Governance
Governance BOARD OF DIRECTORS • 10-member Board of Directors w/ 4 committees comprised of independent directors. Susan Kennedy – Executive Chair ⁻ Nominating & Corporate Governance Maria Echaveste ⁻ Compensation Carolyn Webb de Macias ⁻ Audit & Risk Winston Hickox – Lead Independent Director ⁻ Equit
Slide 13: Capital Structure
Capital Structure ($ in millions) AMOUNT COUPON MATURITY As of 9/30/2022 Transaction Adjustments Pro Forma 9/30/22 Cash and Cash Equivalents(1) $16.9 $24.2(4) $41.1 Restricted Cash(2) $5.0 - $5.0 Total Cash $21.9 $24.2(4) $46.1 Senior Secured Term Loan $50.0 ($15.0) $35.0 Series A Perpetual Preferre
Slide 14: Appendix
APPENDIX January 2023 14
Slide 15: Variability in CA Statewide Precipitation 1895-2021
Variability in CA Statewide Precipitation 1895- 2021 There has been a fundamental shift in how Californians are perceiving and experiencing water shortages. Recurring extreme weather patterns means that public water agencies can no longer assure their residents they have enough water and infrastruct
Slide 16: Board Biographies
Board Biographies Susan Kennedy | Executive Chair of the Board Maria Echaveste, Chair of Nominating & Corporate Governance Committee Joined the Board in March 2021. Appointed Executive Chair on February 4, 2022. Joined the Board in June 2019. Ms. Kennedy, Cadiz’s Executive Chair, is an accomplished
Slide 17: Board Biographies
Board Biographies Carolyn Webb de Macías, Chair of Equity, Sustainability & Environmental Justice Winston Hickox, Lead Independent Director, Chair of Compensation Committee Committee Joined the Board in October 2006. Joined the Board in July 2019. Mr. Hickox is currently a partner at the public poli
Slide 18: Board Biographies
Board Biographies Ken Lombard Stephen E. Courter, Chair of Audit & Risk Committee Joined the Board in April 2022. Joined the Board in October 2008. Ken Lombard is presently President & CEO of BRIDGE Housing, a leading nonprofit Mr. Courter is currently on the faculty of the McCombs School of Busines
Slide 19: Board Biographies
Board Biographies Senator Richard Polanco (ret.) Scott S. Slater | Chief Executive Officer, President Joined the Board in July 2022. Chief Executive Officer since February 2013. Member of the Company’s Board of Directors February 2012. Sen. Polanco is an esteemed California political and business le
Slide 20: Board Biographies
Board Biographies Keith Brackpool Geoffrey Grant Co-founder of Cadiz and joined the Board in 1986. Joined the Board in January 2007. Mr. Brackpool is currently a principal of 1334 Partners L.P., a partnership that owns and Mr. Grant is presently a private investor. In 2012, Mr. Grant retired from Gr