Tidewater Midstream enters Brazeau gas handling deals

Mr. Jeremy Baines reports TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES LONG-TERM GAS HANDLING AND NGL SUPPLY AND FRACTIONATION AGREEMENTS AT THE BRAZEAU RIVER COMPLEX Tidewater Midstream and Infrastructure Ltd. has entered into long-term agreements for gas handling and natural gas liquids supply and fractionation at the Brazeau River complex. Under the agreements, Tidewater will process up to 75 million cubic feet per day of natural gas (composed of approximately 65 MMcf/d and approximately 10 MMcf/d of renewed and newly contracted volumes, respectively) at the BRC sourced from dedicated facilities, and will receive the marketing rights to the ethane, propane and butane derived from such processing, for initial terms of approximately five years, which may continue thereafter on an evergreen basis. Tidewater will receive processing fees and NGL handling fees that are in line with current market rates and fixed for the term of the agreements, subject to annual inflationary increases. The BRC, located in the West Pembina region in central Alberta, offers a full suite of services to producers, including 180 MMcf/d of deep cut natural gas processing capacity, NGL and condensate pipeline connections, approximately 10,000 barrels per day of NGL fractionation capacity, truck loading and offloading facilities, physical natural gas storage facilities, and two natural gas transportation connections. "These are important agreements for Tidewater as they provide significant natural gas volume to the BRC from dedicated facilities on a long-term basis. The BRC processing and fractionation capacity is highly contracted, and discussions are ongoing with multiple interested parties to contract the remaining capacity at the BRC," said Jeremy Baines, chief executive officer of Tidewater. About Tidewater Midstream and Infrastructure Ltd. Tidewater is traded on the Toronto Stock Exchange under the symbol TWM. Tidewater's business objective is to profitably increase 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, and 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 Ltd. We seek Safe Harbor.