LOS ANGELES, March 24, 2023 – Cadiz, Inc. (NASDAQ: CDZI/CDZIP) (“Cadiz”, the “Company”) today announced that its Board of Directors has declared the following cash dividend on Cadiz’s 8.875% Series A Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”).

Holders of Series A Preferred Stock will receive a cash dividend equal to $550.00 per whole share.

Holders of depositary shares, each representing a 1/1000 fractional interest in a share of Series A Preferred Stock (Nasdaq: CDZIP), will receive a cash dividend equal to approximately $0.55 per depositary share.

The dividend will be paid on April 14, 2023 to respective holders of record as of the close of business on April 4, 2023.