TIDEWATER ANNOUNCES FIRST QUARTER 2023 DIVIDEND

(TSX: TWM)

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CALGARY, AB, March 23, 2023 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater") (TSX: TWM) is pleased to announce that its Board of Directors has declared a dividend for the first quarter 2023 of $0.01 per common share payable on or about April 28, 2023 to shareholders of record on March 31, 2023. The ex-dividend date is March 30, 2023. This dividend is an eligible dividend for the purpose of the Income Tax Act (Canada).

ABOUT TIDEWATER

Tidewater is traded on the TSX under the symbol "TWM". Tidewater's business objective is to build a diversified midstream and infrastructure company in the North American natural gas, natural gas liquids, crude oil, refined product, and renewable energy value chain. Its strategy is to profitably grow and create shareholder value through the acquisition and development of conventional and renewable energy infrastructure. To achieve its business objective, Tidewater is focused on providing customers with a full service, vertically integrated value chain through the acquisition and development of energy infrastructure, including downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, railcars, export terminals, storage, and various renewable initiatives. To complement its infrastructure asset base, the Company also markets crude, refined product, natural gas, NGLs and renewable products and services to customers across North America.

Tidewater is a majority shareholder in Tidewater Renewables Ltd., a multi-faceted, energy transition company focusing on the production of low carbon fuels. Tidewater Renewables' common shares are publicly traded on the TSX under the symbol "LCFS".

SOURCE Tidewater Midstream and Infrastructure Ltd.

Robert Colcleugh, Interim Chief Executive Officer, Tidewater Midstream and Infrastructure Ltd., Phone: [phone], Email: [email protected]; Brian Newmarch, Chief Financial Officer, Tidewater Midstream and Infrastructure Ltd., Phone: [phone], Email: [email protected]