Mr. Jeremy Baines reports

TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES AGREEMENT TO SELL BRAZEAU RIVER COMPLEX ROADWAY NETWORK TO CRR

Tidewater Midstream and Infrastructure Ltd. has entered into a definitive agreement with Canadian Resource Roadways LP (CRR) for the sale of its Brazeau River complex roadway network for total proceeds of $24-million. Of the $24-million in total proceeds, $22.5-million will be received upon closing of the transaction, with the balance to be received on or before Dec. 31, 2025. The BRC roadway network is a non-core asset of Tidewater, and the disposition of the BRC roadway network is expected to have an immaterial impact to Tidewater's 2025 operating results. The proceeds from the transaction are anticipated to be used to reduce amounts outstanding on the corporation's three-year delayed-draw term loan.

"We are pleased to announce the agreement to sell the BRC roadway network to a quality road owner-operator in CRR. The transaction provides a meaningful amount of cash for the BRC roadway network and aligns with our goal of maximizing the return we receive on our assets. We continue to remain very focused on generating cash flow and optimizing our core asset base," said Jeremy Baines, chief executive officer of Tidewater.

The transaction is expected to close in early April, 2025, subject to customary closing conditions and certain regulatory approvals, including the receipt of approval from the Alberta Energy Regulator.

About Tidewater Midstream and Infrastructure Ltd.

Tidewater's business objective is to profitably grow and create shareholder value in the North American natural gas, natural gas liquids, crude oil, refined product and renewable-energy value chain. Its operations include downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, storage and various renewable initiatives. To complement its infrastructure asset base, the corporation also markets crude, refined product, natural gas, natural gas liquids, and renewable products and services to customers across North America. Tidewater is a majority shareholder of Tidewater Renewables.

We seek Safe Harbor.