Company's Critical Inflection Point Under Susan Kennedy's New Leadership Drives Expansion of Investor Communications

Recent Form 4 Filing Disclosed CEO's Purchase of Shares of CDZI to Align with Shareholders

LOS ANGELES, May 9, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ:CDZI, CDZIP))) ("Cadiz" or the "Company"), a California water solutions company, has engaged international investor relations specialists MZ Group ("MZ") to lead a comprehensive strategic investor relations and financial communications program across all key markets at a pivotal inflection point for the Company. Several key developments over the last six months demonstrate this inflection point including critical permitting and contracting milestones in the development of water and infrastructure assets.

MZ Group will work closely with Cadiz management to develop and implement a capital markets strategy designed to increase the Company's visibility throughout the investment community.

Susan Kennedy, Chairman and Chief Executive Officer of Cadiz, stated, "The decision to move forward with an external IR partner is strategically tied to the current inflection point within our Company. Cadiz is a totally different company today as compared to 20 years ago when Cadiz was one big water project looking for one big public agency customer. Today, with climate change wreaking havoc on water supplies around the world, and our acquisitions of pipeline assets and treatment technology in addition to our water supply and storage assets – Cadiz has some of the most valuable water assets in the US and we're in position to monetize them. Cadiz is an asset-rich company with exactly the right combination of water supply, infrastructure and technologies to address water access issues on a large scale."

Ms. Kennedy continued, "Cadiz's core asset is the aquifer system that sits under our land with 30 to 50 million acre-feet of water already in storage and a pipeline network that stretches across hundreds of miles in Southern California. Cadiz is positioned to operate one of the largest water banks in the world in a region of the world that desperately needs water security, and I am fully committed to ensuring the Company generates long-term revenue streams in all elements of our business."

MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts, and private investors and maintains offices worldwide. Shannon Devine, Partner at MZ North America, and Rory Rumore, Director, will advise the Cadiz team in all facets of investor relations.

Shannon Devine commented, "The trajectory of Cadiz is remarkable. Once a single water project to today, a water solutions Company, Cadiz is strategically positioned to serve a mission critical need for the people of California and the Southwestern United States. This positioning includes two decades of regulatory hurdles behind the Company and recent acquisitions that enable the full solution. Specifically, the acquisition of 220-miles of pipeline, previously allocated as gas pipelines that Cadiz converted to transport water – which to our knowledge is the first ever in the world to do so, enables the delivery of water. Rounding out the Cadiz solution was the 2022 acquisition of ATEC Water Systems. It's a new era for Cadiz, led by Chairman and CEO, Susan Kennedy, who's distinguished career includes two decades serving at the highest levels of California government, including as chief of staff to Governor Arnold Schwarzenegger and cabinet secretary to Governor Gray Davis. We could not be more excited to work with Susan and the team during this pivotal time. Her commitment to Cadiz and her vision for the Company is further evident in her recent share purchase. As a shareholder herself, it's refreshing to work with a leader who understands how important it is to be aligned with shareholders."

Rory Rumore added, "Cadiz has developed robust assets and capabilities to address the water crisis in California and beyond including its dynamic aquifer system and an extensive pipeline network. Cadiz offers a differentiated storage as a solution package combining its various resources inclusive of the Company's ownership of significant land and water rights, expansive groundwater storage capacity and a Southern California pipeline infrastructure to connect the supply, storage and transfer capabilities. Ultimately, we believe Cadiz will be the largest water bank in the Southwestern U.S. Cadiz represents a unique business with a wide moat given its position as the incumbent of water storage as a solution representing a clear value proposition with scale opportunity."

Courtney Degener, Cadiz Sr. Vice President of Investor Relations and Communications, said, "We welcome the strategic counsel from the MZ team as we make broader connections in the market at this important time for the Company. MZ's extensive experience and far reach will ensure we are communicating with all audiences as we share the value of our water solutions and our vision for addressing the impact of climate change on the human right to water."

Recent appearances featuring Chairman and CEO Susan Kennedy discussing the value of Cadiz's water solutions can be accessed here:

Susan Kennedy, Chairman and CEO of Cadiz Inc. (NASDAQ:CDZI), Featured as a Guest on Bloomberg BusinessWeek Radio

Cadiz Inc. CEO Susan Kennedy Shares Evolution and Vision for Water Management Strategies

For more information on Cadiz, please visit www.cadizinc.com.

About MZ

MZ North America is the US division of MZ Group, a global investor relations leader with over 250 employees and 800 clients across 12 different exchanges. For over 25 years, MZ has implemented award winning investor relations programs and developed a reputation for delivering tangible, measured results via its robust suite of services. MZ's one-stop-shop platform serves management teams at public and private companies, including SPACs and IPOs. The platform leverages strategic financial communications, industry-leading investment community outreach, public relations, financial media, ESG consulting and software, a market intelligence desk, and technology solutions spanning investor relations websites, conference call/webcasting, video production and XBRL/Edgar filing services. MZ maintains a global footprint with professionals located throughout every time zone in North America, and in Taipei and São Paulo. MZ's growth continues to accelerate with innovative products and services for its client base of high-quality companies. For more information, please visit www.mzgroup.us.

About Cadiz, Inc.

Founded in 1983, Cadiz, Inc. (NASDAQ:CDZI) is a California water solutions company dedicated to providing access to clean, reliable and affordable water for people through a unique combination of water supply, storage, pipeline and treatment solutions. With 45,000 acres of land in California, 2.5 million acre-feet of water supply, 220 miles of pipeline assets and the most cost-effective water treatment filtration technology in the industry, Cadiz offers a full suite of solutions to address the impacts of climate change on clean water access. For more information, please visit www.cadizinc.com.

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "anticipates", "expect", "may", "plan", or "will". Forward-looking statements include, without limitation, projections, predictions, expectations, or beliefs about future events or results and are not statements of historical fact, including statements regarding the Company's expected benefits from its engagement of MZ Group and its ability to further monetize its water assets and water storage as a solution business opportunities. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements. These and other risks are identified in our filings with the Securities and Exchange Commission (the "Commission"), including without limitation our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Reports on Form 10-Q and other filings subsequently made by the Company with the Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

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SOURCE Cadiz, Inc.

Cadiz Engages MZ Group to Enhance Strategic Investor Relations Program