Corporate Presentation January 2024

Elk Hills Project Overview Key Partners CARBON TERRAVAULT CALIFORNIA RESOURCES CORPORATION Koch Modular INENTEC® PROCESS SYSTEMS Project Goals and Details Renewable gasoline and carbon sequestration project California Resources Corp site Utilize 450 tons/d of agricultural waste Produce up to 7.5 MM gal/year RBOB renewable gasoline Product will be CARBON NEGATIVE (expect -125gCO2e/MJ) • Sequester 125,000 Tons/year of CO2 $235MM estimated capex requirement Qualifies for: D3 RIN, LCFS, & 45Q Carbon TerraVault (CRC & Brookfield Renewable JV) Draft Class VI CO2 injection well: First in US permit (draft) for CO2 sequestration in depleted oil reservoir First in California for underground CO2 sequestration VERDE CLEAN FUELS Project location Location: Martin County Located at California Resources Corp.'s Net Zero Industrial Park in Bakersfield, CA Area produces significant amounts of agricultural waste from almond orchards, providing low-cost feedstock for STG + process The Cottonmouth JV Can Serve as a Template for Similar Future Projects in the Permian and Appalachian Basins in the U.S., as well as Globally Copyright 2024 Verde Clean Fuels Ent 12

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