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Natural Soda LLC 2024 Project Status Report & Annual Plan of Development <br /> 6 January 2025 <br /> <br />2.2. Leasehold Status <br />The original four NS sodium leases were renewed by the BLM in 2021 for a period of ten <br />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 to <br />renew the leases again in 2031 for an additional period of ten years. <br />3.0 Project Status <br />3.1. 2024 Project Activities (Confidential) <br />(See Figure 3 & Table 4: Plant and Well Location Maps) <br />In 2024 NS produced 239,410 tons of sodium bicarbonate and generated 240,902 tons <br />in annual sales. Table 1 presents the monthly sodium bicarbonate production, sales, and <br />inventory summary for 2024. This product was produced from the 12H, 13H, 15H, 16H, <br />and 17H mining intervals. The 2024 and lifetime sodium bicarbonate production for the <br />mining intervals is presented in Table 2. Routine boil outs were performed in 2024. NS <br />completed a project to remove and replace the truck scale with minimal disruption to <br />operations. NS is planning additional capital expenditures to upgrade equipment over the <br />next few years. Various short shutdowns were required for routine maintenance, <br />equipment repair, and/or replacement throughout the year. <br />3.1.1. Items of Significance (Confidential) <br />• NS drilled two production wells in 2024, the 18H-1V slant production well and the <br />18H-IR-W horizontal well which will establish the West 18H mining interval. The <br />two wells will be hydrologically connected in 2025. One production well, the 18H- <br />IR-WA was drilled and then abandoned in 2024 due to casing damage and <br />cementing issues. <br />• Production of sodium bicarbonate was continuous throughout all months of 2024. <br />