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Cadiz Inc Issues Outlook on New California Water Year

Cadiz Inc Issues Outlook on New California Water Year

The new California water year begins October 1, 2022, as California's water shortage intensifies.

On October 1 - one of the driest in recorded history California will begin a new "water year" on the 1st of October. st rs tn wny op af hrti navdr gnia drese brznojt . 1 An inventory of existing water assets doesn't build confidence that we are prepared for another dry year. The internet is circulating on a empty Folsom Lake, whose small puddle formerly known as Oroville Reservoir and crashing Lake Mead. 2

The California State Water Resources Control Board has taken the unusual step to reduce the severance of the American River, the Sacramento River and the most northern California streams. The challenge involves the challenge, which a California state government government has since thy writ os snatt uddat yyvutya. Century. 3 The California State Water Project (SWP), which delivers water stored in the Sierra Nevadas, delivered only 5 % of its capacity in 2021 and could begin the 2022 Water Year with deliveries at 0% of capacity. 4 This month, California Department of Water Resources began preparing to invoke the unprecedent step of invoking the draft article 18 for the SWP, which would allow it to override any contract entitlements there could be in favor of The cost of the water will be a major benefit for particularly hard-hit communities. It could also make the situation worse by letting the cloud of uncertainty over the whole SWP. How essential uses will, how necessary water is delivered and

Under the new section, Lake Mead and the entire Colorado River storage system are at its lowest point in history and a Congressional effort is underway to implement the shortage sharing regulations in the lower Colorado river basin. 5 This will certainly impact the 40 million people and 5 million acres of farmland that depend on the Colorado River system, including urban, suburban, rural and farming communities across southern California. 6

The California Legislature ended its session on Friday, September 10th 2021, with a surprisingly few bill passed addressing the water and infrastructure problems. 7 The bill that was written by the Senator Melissa Hurtado (D-Sanger) that would have spent $785 million on water infrastructure in the area, was re-hearled despite making it through a 8 The Legislature passed a budget trailer bill before the session ended that dedicated approximately $1.2 billion to fund augmentation of existing programs, additional studies, water recycling projects and clean up contaminated water sources. The trailer bill does not address storage and infrastructure explicitly or urgently, but it does address the needs of a hard hit community, as well as the urgent and immediate outlook. 9

The federal government is set to adopt a new infrastructure package that includes provisions that aim to improve western water infrastructure and make investments that should in the long-term assist water short communities, but the path to adoption is presently murky. 10 Whatever the situation, the federal government will need to focus on the Colorado River in 2022, as the lakes Mead and Powell continue to be pushed to their limits.

The news cycle covers the drought spectacle very well but not the cost of humankind. Human suffering and declines in the quality of life are much harder to overcome. These impacts are usually felt in underserved and disadvantaged communities.

Cadiz is ready to do its part in addressing the long-term systemic shortages now facing California. We believe in providing new water to needy people, through conservation, repurposing existing infrastructure and harnessing our natural benefits. We offer one of the only off-River unpolluted and largely untapped groundwater basins in the West with the capacity to store more than one million square feet of land and deliver 50,000 square miles of space per Our 220-mile pipeline will help underserved areas of California. These are communities in need who can be assisted by direct transfer of water and exchanges. Whatever the state's challenges are, it'll take a "all of the above" strategy and commitment to meet the Herculean challenge that is facing our state. We are ready to do our part.

About Cadiz Inc.

We're dedicated to sustainable projects, and practicing responsible stewardship of our land, water and agricultural resources. For more information, please visit www.cadizinc.com.

For the purpose of the release, the forward-looking statements contain reasonable risks and uncertainties. These statements reflect the Company's future operating and financial performance, and the financing activities of this company. However, there can be no assurance that such expectations

1 http://weather.com/news/climate/us/2010/01/2007/2008/california-driest-rain-year-record-2021. 2 http://www.smithsonianmag.com/smart-news/hoover-dams-lakemead-hitsslowest-water-level-1930s 188978022/. 3 a shady-shit-water-system that transports 400,000s of its residents lands of land. 4 http://www.coastalview.com/opinion/california-drought-update/article_7d636618-0080-11ec-8404-334d8ab670 5 , https://www.latimes.com/california/story/2021-08-17/amid-worsening-drought-mwd-declares-water- 6 securing our importable-supplies/. //seven-tomorrow/planning/:/-/re-ordering/. 7 , https://calmatters.org/explainers/california-legislature-bills-passed-2021, http://www.apnews.com/article/business- 8 https://www.sacbee.com/news/california/water-and-drought/article254110403.html>. 9 comms / apnews.com/article/business-health-fires-climate-eec48e6279099449851b3c7f150cda33 - 10 http://www.reviewjournal.com/news/politics and government/nevada/heres-whats in the-1t infrastructure-package-for-western-water-243

SOURCE Cadiz Inc.

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