The History of Bear Head Energy “Initially developed as an LNG import facility by Access Northeast Energy” — 2002-2004 “Sold to Anadarko in 2004 after receiving all key regulatory approvals for LNG imports.” — 2004 “More than US$130 million has been invested in engineering, development, and site construction – including roads, drainage, site leveling, and pouring of LNG tank foundations” — 2004-2014 “Acquired in 2014 by LNG Limited (“LNGL”) ” — 2014 “Bear Head LNG and interconnecting pipeline, Bear Paw Pipeline, were fully permitted for LNG exports and natural gas transportation, respectively.” — 2015-2016 “Engaged in the TERMPOL process and completed the technical review of Marine Terminal Systems and Transshipment Site” — 2017 “Bear Head executive team acquired Bear Head LNG and Bear Paw Pipeline projects from LNGL in April 2021. Recognizing that hydrogen and ammonia have unique characteristics as potential low carbon solutions across many industries and that Bear Head’s location in Nova Scotia offers unique advantages for clean energy projects, the team began to transition the project from LNG to the production of low carbon hydrogen and ammonia.” — 2021 “Bear Head acquired by Buckeye Partners, L.P., with the Bear Head management team retained to lead the development of a clean energy project” — 2022 “Bear Head is selected as one of the seed assets for BAES Infrastructure, a diversified energy company focused on the development, construction, and operation of energy transition assetsBear Head Energy is awarded Environmental Approval by the Government of Nova Scotia” — 2023