Gulf Coast Sequestration Appoints Industry Veteran David Cook as CEO; W. Gray Stream Named Executive Chairman

Lake Charles, La., October 11, 2023 – Gulf Coast Sequestration (GCS), a pioneering company building a
secure, world-scale carbon sequestration hub on the Gulf Coast, today announced David “Dave” Cook as
Chief Executive Officer, effective immediately. W. Gray Stream, founder of GCS, will assume the role of
Executive Chairman. Completing the leadership team, Benjamin Heard will serve as Chief Strategy
Officer, while Scott Stepp is Chief Financial Officer.

“Dave brings extensive experience in our industry and an unmatched track record of performance
delivery, organizational leadership, business transformation, and strategy execution,” said Stream. “With
two Class VI permit applications with the Environmental Protection Agency, GCS is at the forefront of our
nation’s efforts to develop and implement carbon capture and sequestration. Under Dave’s leadership,
I’m confident we are well positioned to continue our significant progress toward building a carbon
sequestration hub on the Gulf Coast.”

“The GCS team is extremely talented and aligned toward a shared mission of improving the world we’re
living in now as well as leaving for future generations. This is an exceptional opportunity to bring my
passion and experience to a business that is well-positioned to make a difference to the people,
communities, and environment on the Gulf Coast,” said Cook. “The Stream family has a long history of
environmental stewardship in Louisiana, and I’m honored to be trusted to continue that legacy through
GCS.”

Prior to joining GCS, Cook served as a chief executive, senior leader, and non-executive board member
for several global, publicly traded, and private companies. Most recently, Cook was a Director of Vaalco
Energy, following its merger with TransGlobe Energy Corporation of which he was Chair from 2019 to
2022. Previously, he served as CEO of Noreco in London and INEOS DENOS in Copenhagen. Earlier in his
career, he spent more than 20 years with BP in various international assignments. Cook earned a
bachelor’s degree in Geophysics and a Ph.D. in Geological Sciences from Michigan State University.

The addition of Cook is another significant step for GCS following the recent hire of former Louisiana
Department of Natural Resources (LDNR) regulator Kaycee Garrett as Head of Permitting. Garrett worked
in the Underground Injection Control section of the LDNR Office of Conservation for ten years, followed
by five years of consulting experience to advance injection well permit applications for operators across
the Gulf Coast.