On July 15, 2019, the Board of Directors (the \”Board\”) of Cadiz Inc. (the \”Company\”) received notice from Water Asset Management, LLC (\”WAM\”) that its aggregate beneficial ownership of the Company\’s common stock, par value $0.01 per share, fell below the twelve percent (12%) ownership threshold required by the previously reported Cooperation Agreement, by and between WAM and the Company, dated as of May 1, 2018 (the \”Cooperation Agreement\”). As a result of WAM failing to own at least 12% of the Company\’s issued and outsanding common stock, WAM has lost its right under the Cooperation Agreement to designate two (2) independent directors to the Board. In connection with WAM\’s forfeiture of this right, John A. Bohn notified the Company on July 15, 2019 of his resignation from the Board, effective immediately. Mr. Bohn\’s resignation was not due to any disagreement with the Company known to any executive officer of the Company on any matter relating to the Company\’s operations, policies or practices.

About Cadiz Inc. (NASDAQ:CDZI)

Cadiz Inc. is a land and water resource development company with approximately 45,000 acres of land in three areas of eastern San Bernardino County, California. The Company’s primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage and agriculture. It is focused on the development of the Cadiz Valley Water Conservation, Recovery and Storage Project, which captures and conserves millions of acre-feet of native groundwater being lost to evaporation from the aquifer system beneath its approximately 34,000-acre property in the Cadiz and Fenner valleys of eastern San Bernardino County and deliver it to water providers throughout Southern California. In addition to the Cadiz/Fenner Valley property, it also owns approximately 11,000 additional acres in the eastern Mojave Desert portion of San Bernardino County, California at two separate properties. It owns over 2,000 acres near Danby Dry Lake in Ward Valley.