Mr. Thomas Dea of Tidewater Midstream reports

TIDEWATER MIDSTREAM AND TIDEWATER RENEWABLES NAME JEREMY BAINES CEO; UPDATE FROM TIDEWATER RENEWABLES

Tidewater Midstream and Infrastructure Ltd. and Tidewater Renewables Ltd. have appointed Jeremy Baines as the chief executive officer and to the boards of both companies, effective immediately. The board of Tidewater Midstream also appointed Aaron Ames as interim chief financial officer for Tidewater Midstream, also effective immediately. This has followed the departure of Robert Colcleugh from the management teams of Tidewater Midstream and Tidewater Renewables and from the board of Tidewater Renewables.

With over 27 years of mid-stream and infrastructure business experience and a strong background in operations, finance and corporate development, Mr. Baines brings a deep understanding of the business and industry. Under his leadership, Tidewater Midstream remains committed to building a profitable, diversified mid-stream and infrastructure company, and Tidewater Renewables will continue to focus on delivering on its commitment to being a leader in the North American energy transition.

"As a result of his specific industry experience and significant operational expertise, Mr. Baines is ideally suited to lead the Tidewater team," said Thomas Dea, chairman of the board of Tidewater Midstream. "We are entering a new phase focused on operations, cash flow, prudent capital allocation and return on capital, with safety remaining at the top of our list."

"With construction and operations being at the forefront of our business needs, we believe Mr. Baines's valuable operational and industry experience is well suited for Tidewater Renewables. Under Mr. Baines, the organization will work to optimize operational performance of our renewable diesel facility and continue to pursue our strong pipeline of renewable projects currently being reviewed," said John Adams, lead independent director of Tidewater Renewables.

Mr. Baines said: "I am excited about the opportunities ahead at Tidewater Midstream and Tidewater Renewables. With the strong team, solid asset base, and supportive environment for energy and decarbonization, Tidewater has an important role to play and a significant opportunity to generate value for all of our stakeholders, providing energy not only to Western Canada, but to the world.

"I am proud and excited to lead the exceptional teams at Tidewater Midstream and Tidewater Renewables. Their dedication and unwavering focus on safety, customer service and operational excellence has laid a solid foundation for our future. I am eager to build on their success and deliver for our valued customers, partners and shareholders," added Mr. Baines.

Mr. Baines has held various operational, financial and board roles in domestic and global Canadian infrastructure companies over the last 27 years.

Tidewater Renewables update

Additionally, Simon Bregazzi has resigned from the Tidewater Renewables board and Tidewater Renewables intends to conduct a search for an appropriate replacement.

About Tidewater Midstream and Infrastructure Ltd.

Tidewater is traded on the Toronto Stock Exchange under the symbol TWM. Tidewater's business objective is to build a diversified mid-stream and infrastructure company in the North American natural gas, natural gas liquid, crude oil, refined product and renewable energy value chain. Its strategy is to profitably grow and create shareholder value through the acquisition and development of conventional and renewable energy infrastructure. To achieve its business objective, Tidewater is focused on providing customers with a full-service, vertically integrated value chain through the acquisition and development of energy infrastructure, including downstream facilities, natural gas processing facilities, natural gas liquid infrastructure, pipelines, railcars, export terminals, storage and various renewable initiatives. To complement its infrastructure asset base, the company also markets crude, refined product, natural gas, natural gas liquid and renewable products and services to customers across North America.

Tidewater is a majority shareholder in Tidewater Renewables, a multifaceted energy transition company focusing on the production of low-carbon fuels. Tidewater Renewables' common shares are publicly traded on the TSX under the symbol LCFS.

About Tidewater Renewables Ltd.

Tidewater Renewables is traded on the TSX under the symbol LCFS. Tidewater Renewables is a renewable fuel producer and energy transition leader. Tidewater Renewables provides alternative low-carbon and clean-fuel solutions at scale through commercially proven technology and a dedicated focus on making change happen. In addition to Canada's first renewable diesel facility, Tidewater Renewables is invested in renewable natural gas and renewable hydrogen, all of which offer an alternative to fossil fuels. Tidewater Renewables has invested in all aspects of the value chain as a vertically integrated renewable and profitable energy company, led by a highly experienced team and backed by significant government support. With a competitive advantage, a clear purpose and a genuine commitment to a more sustainable future, Tidewater Renewables turns waste into value and creates the clean energy the world needs today.

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