Cadiz Inc. announced that Barbara Lloyd, a leading professional in the project finance industry with deep experience in public-private infrastructure financing in California, was appointed to the Company's Board of Directors. Director Lloyd is Founder and CEO of IMPACTS USA Advisory Services, a private consulting firm advising governments, developers and investors on innovative capital asset strategies, including public-private partnerships for complex infrastructure projects such as California High-Speed Rail. IMPACTS advisory clients include the University of California and the California Departments of Transportation and Veterans Affairs.

She also advised the state Department of Water Resources and the cities of Los Angeles, Oakland and San Jose at prior employers. Prior to founding IMPACTS, Lloyd served as a Managing Director for KPMG Corporate Finance, a global leader in alternative financing and delivery options for complex infrastructure projects and governmental facilities. Previously, Lloyd served as Chief Deputy Treasurer and Deputy Treasurer for Public Finance for the California State Treasurers Office where she led multiple high-profile, complex bond transactions, such as California's$11 billion Power Supply Revenue Bonds, then the largest municipal bonds ever issued (2002), and $12.3 billion Economic Recovery Bonds, including the largest single-day issuance in municipal bond history, at $7.9 billion (2004).

In her role at the State Treasurers Office, Lloyd also served as chief negotiator and senior spokesperson with rating agencies, credit enhancement providers, investors, governmental agencies, and other bond market participants. Lloyd's expansive financial career also includes roles in senior executive public finance positions at Lehman Brothers Public Finance, acquired by Barclays, and Leifer Capital, now KNN Public Finance. She led banking transactions for the State of California, Los Angeles Department of Water and Power; California Department of Veterans Affairs; Irvine Ranch Water District; San Diego County; City of Oakland; and California Communities JPA.

Lloyd began her career as chief of staff in the 14thCalifornia State Assembly district and also served as treasury manager for the City of Oakland. Lloyd has an MBA from Stanford University and a B.A. in Political Science from UC Davis. Lloyd's appointment filled an existing vacancy on the Cadiz Board and is effective immediately.

The Board also appointed Lloyd to serve on the Audit & Risk and Compensation committees. The appointment of Lloyd makes the Cadiz Board a majority women directors for the first time in the Company's history.