Lost Hills Solar Project

• On July 14, 2021, commercial operations commenced on a 2.2 MW solar plant at the Crimson operated Lost Hills oil field
  • The solar plant is located on-site at Lost Hills and supplies electricity to the oil field
  • A Crimson affiliate purchases the solar power under a Power Purchase Agreement (PPA) with the solar plant owner
• The electricity generated from the solar plant reduces the amount of utility power consumed by the Lost Hills field, lowering the lifecycle carbon emissions of transportation fuels in California
• Additionally, Crimson affiliates have executed a PPA for a 2.7 MW plant expansion that will bring the total solar plant size to 4.9 MW
  • Construction on the plant expansion is expected to be completed by the Fall of 2024

N. Midway-Sunset Solar Project

• Commercial operations commenced on a 1.1 MW solar plant at the Crimson Midway 23A lease on November 17, 2022
  • The Solar Plant is located on approximately 10 acres of surface on Crimson’s Midway 23A lease, which is approximately 2.5 miles northwest of the Midway 25A oil field
  • Project represents Crimson’s 2nd solar development after successful construction of a solar plant at the Lost Hills field
  • The 25A oil field purchases and consumes the solar power under a Power Purchase Agreement (PPA) between a Crimson affiliate and the solar plant owner
• The electricity generated from the solar plant reduces the amount of utility power consumed by the Midway 25A oil field, lowering the lifecycle carbon emissions of transportation fuels in California
  • To further reduce carbon emissions from California fuels, Crimson has submitted plans for a 2.2 MW plant expansion and is undergoing the Interconnection application process with Pacific Gas & Electric