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Natural Soda LLC 2023 Project Status Report & Annual Plan of Development <br /> 6 January 2024 <br /> <br />2.2. Leasehold Status <br />The original four NS sodium leases were renewed by the BLM in 2021 for a period of <br />ten years. Annual rental and royalty payments have been submitted to the Mineral <br />Management Service. The NS leases comprise approximately 8,379 acres. NS plans <br />to renew the leases again in 2031 for an additional period of ten years. <br />3.0 Project Status <br />3.1. 2023 Project Activities (C onfidential) <br />(See Figure 3 & Table 4: Plant and Well Location Maps) <br />In 2023 NS produced 250,297 tons of sodium bicarbonate, and generated 249,916 tons <br />in annual sales. Table 1 presents the monthly sodium bicarbonate production, sales, <br />and inventory summary for 2023. This product was produced from the 12H, 13H, 15H, <br />16H, and 17H mining intervals. The 2023 and lifetime sodium bicarbonate production <br />for the mining intervals is presented in Table 2. Routine boil outs were performed in <br />2023. NS completed a capital project to install a cyclone on the #3 dryer which is the <br />product dryer in Train #2. The installation was completed in April 2023. NS is planning <br />additional capital expenditures to upgrade equipment over the next few years. Various <br />short shutdowns were required for routine maintenance, equipment repair, and/or <br />replacement throughout the year. <br />3.1.1. Items of Significance (Confidential) <br />• A 3-acre well pad was constructed for the proposed 18H-1V/19H-1V/20H-1V <br />slant production wells. To access this pad from the plant, a 1,600 foot access <br />road was built and graveled. A new pipeline was constructed proximal to the <br />access road to connect the proposed 18H-1V production well with existing <br />pipeline infrastructure. The existing 15H-17H (west) pad was extended toward <br />the south; this 2-acre pad extension will be utilized for the proposed 18H-IR-W <br />and 19H-IR-W wells. <br />• Plug & Abandonment (P&A) operations occurred during 2023 to remove older <br />wells from the NS groundwater monitoring program. These wells, associated <br />with the Rock School Lease: AM-2, MWA-2, MWB-2, MWD-1, MWD-2, MWU-2, <br />and the RS-96-20-1 were all P&A’ed in 2023. <br />• NS P&A’ed three inactive sodium bicarbonate production wells in 2023: 14H- <br />R(I), 15H-I, and the 17H-I. <br />