----

| DELAWARE                        | 77-0313235          |
|---------------------------------|---------------------|
| (State or other jurisdiction of | (I.R.S. Employer    |
| incorporation or organization)  | Identification No.) |
| 550 S. Hope Street, Suite 2850           |       |
|------------------------------------------|------------|
| Los Angeles, CA                          | 90071      |
| (Address of principal executive offices) | (Zip Code) |
| Title of each class                     | Trading Symbol(s) | Name of each exchange on which registered |
|-----------------------------------------|-------------------|-------------------------------------------|
| Common Stock, par value $0.01 per share | CDZI              | The NASDAQ Global Market                  |

----

----

| PART III           |                                                                                           | Page   |
|--------------------|------------------------------------------------------------------------------------------------|--------|
|               |                                                                                           |   |
| Item 10.           | Directors, Executive Officers and Corporate Governance                                         | 1      |
|               |                                                                                           |   |
| Item 11.           | Executive Compensation                                                                         | 7      |
|               |                                                                                           |   |
| Item 12.           | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 21     |
|               |                                                                                           |   |
| Item 13.           | Certain Relationships and Related Transactions, and Director Independence                      | 25     |
|               |                                                                                           |   |
| Item 14.           | Principal Accounting Fees and Services                                                         | 27     |
|               |                                                                                           |   |
| PART IV            |                                                                                           |   |
|               |                                                                                           |   |
| Item 15.           | Exhibits, Financial Statement Schedules                                                        | 28     |
|               |                                                                                           |   |
| SIGNATURES         |                                                                                           | 29     |
|               |                                                                                           |   |
| EXHIBIT INDEX |                                                                                           | 31     |
|               |                                                                                           |   |
|  Name              | Age    | Position with Cadiz                             |
|-------------------------|--------|-------------------------------------------------|
|                    |   |                                            |
| Keith Brackpool         | 61     | Chairman of the Board                           |
|                    |   |                                            |
| John A. Bohn            | 81     | Director                                        |
|                    |   |                                            |
| Jeffrey J. Brown        | 58     | Director                                        |
|                    |   |                                            |
| Stephen E. Courter      | 64     | Director                                        |
|                    |   |                                            |
|  Geoffrey Grant    | 58     | Director                                        |
|                    |   |                                            |
|  Winston H. Hickox | 76     | Director                                        |
|                    |   |                                            |
| Murray H. Hutchison     | 80     | Director                                        |
|                    |   |                                            |
| Richard Nevins          | 71     | Director                                        |
|                    |   |                                            |
| Raymond J. Pacini       | 63     | Director                                        |
|                    |   |                                            |
| Timothy J. Shaheen      | 59     | Director, Chief Financial Officer and Secretary |
|                    |   |                                            |
| Scott S. Slater         | 61     | Director, President and Chief Executive Officer |

| · | Scott Slater, President and Chief Executive Officer |
|--------|-----------------------------------------------------|

| · | Timothy Shaheen, Chief Financial Officer |
|--------|------------------------------------------|

| · | Keith Brackpool, Chairman of the Board |
|--------|----------------------------------------|

| · | Negotiated and entered into a Purchase Agreement for 124 miles of a 30" idle natural gas pipeline.  This pipeline, together with a 96 mile segment that the Company already owns, crosses San Bernardino, Los Angeles and Kern counties, including the Barstow and Bakersfield areas, which serve as hubs for water delivered from northern and central California to communities in Southern California.  We believe the pipeline could diversify delivery opportunities for the Cadiz Valley Water Conservation, Recovery and Storage Project ("Water Project") and the Company's broader water resource development efforts. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Defeated a California legislative attack on the Water Project via Senate Bill 120 and implemented a strategic plan to defeat new state legislative and administrative efforts to slow or stop implementation of the Water Project. Following successful approval of the Water Project in applicable public agency and Court venues, environmental organizations opposed to the Water Project initiated a strategy in 2017 to create new and additional regulatory hurdles for the Water Project in the California State Legislature and via the Executive Branch. This strategy began with the introduction of Assembly Bill 1000, which sought to create additional environmental review permitting for the Water Project carried out by state agencies.  The Company worked with a coalition of bill opponents to educate the Legislature about its impacts, and AB 1000 was held in the Senate Appropriations subcommittee and did not advance further.  In 2018, the organized opponents of the Water Project revived AB 1000 via another "gut and amend" of Senate Bill 120 in the last week of the legislative session. Again, the Company worked with a coalition of bill opponents in the condensed time frame, and successfully argued that the bill should be stopped from becoming law. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Directed ongoing permitting and technical initiatives related to implementation of Phase 1 of the Water Project. In 2018, project technical planning continued and management oversaw ongoing watershed monitoring, the preparation of construction permit applications, pilot and feasibility testing for water treatment programs, land acquisitions and technical review of hydrology and geology study at the project area. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Evaluating the performance of the Company's executive officers; |
|--------|-----------------------------------------------------------------|

| · | Reviewing and approving the total compensation and benefits of the Company's executive officers, including cash compensation and long-term incentive compensation; and |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Reviewing guidelines and standards regarding the Company's compensation practices and philosophy. |
|--------|---------------------------------------------------------------------------------------------------|

| · | SALARY.  Base salaries for the Company's named executives are determined by the Compensation Committee depending on a variety of factors including the scope of their responsibilities, their leadership skills and values, their performance and length of service.  Salaries for our named executive officers are intended to create a minimum level of compensation that is competitive with other companies deemed comparable, depending on the prior experience and position of the executive.  Salaries are typically paid in cash, but could also be paid with restricted stock awards. Decisions regarding salary increases are affected by the named executive's current salary and the amounts paid to their peers within and outside the Company. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | LONG-TERM INCENTIVES.  The primary form of incentive compensation that is offered to the Company's executives consists of long-term incentives in the form of equity awards.  The use of such long-term incentives is intended to focus and align goals of Company executives with those of stockholders and creates a direct interest in the results of operations, long-term performance and achievement of the Company's long-term goals. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | PERFORMANCE BASED CASH AWARDS.  The Compensation Committee believes that it is sometimes important to offer cash incentives to executives for the achievement of specified objectives that yield increased value for stockholders and will utilize performance based cash awards from time to time to provide additional incentives. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | BENEFITS.  The Compensation Committee also incorporates retirement, insurance, termination and severance benefits in the compensation program for executive officers.  These benefits are offered to retain top executives, maintain their health and wellness and remain competitive in the industry.  The retirement and insurance benefits are consistent with those benefits offered more broadly to the Company's employees. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · Alico, Inc.· Forestar Group, Inc. |
|---------------------------------------------------------|
| · Limoneira Company                           |
| · PICO Holdings, Inc.                         |
| · Taylor Morrison, Inc.                       |
| · Tejon Ranch Co.· Pure Cycle Corp. |
|   | THE COMPENSATION COMMITTEE                                                      |
|--------|--------------------------------------------------------------------------------------|
|   |                                                                                 |
|   | Murray H. Hutchison, Chairman                                              |
|   | John A. BohnStephen E. CourterGeoffrey GrantWinston H. HickoxRaymond J. Pacini  |

| Name and Principal Position(1)                                      | Year               | Salary($)                         | Bonus($)                    | StockAwards(2)($)                | OptionAwards(2)($)                 | All OtherCompensation(3)($)     | Total($)                                                            |
|---------------------------------------------------------------------|--------------------|-----------------------------------|-----------------------------|----------------------------------|------------------------------------|--------------------------------------|---------------------------------------------------------------------|
|  Scott SlaterPresident and current Principal Executive Officer |  201820172016 |  300,000300,000300,000  |  300,000300,000-  |  ---                        |   - - -   |  -- -                           |     600,000    600,000   300,000 |
| Timothy J. ShaheenPrincipal Financial Officer and Secretary    | 201820172016       | 350,000350,000200,000        | 300,000300,000200,000  | -851,500  59,934  | ---                           | 12,587 12,336  9,271  |    662,5871,513,836   469,205                   |
| Keith BrackpoolChairman and former Principal Executive Officer      | 201820172016       | 275,000275,00035,000              | 300,000300,000-             | -851,500  95,895       |  - - -         | 44,936 47,260  42,943      |    319,9361,473,760   173,838              |

| (1) | The executive officers listed in the Summary Compensation Table above were the Company's only executive officers during the year ended December 31, 2018. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | This column discloses the dollar amount of compensation cost recognized for the respective fiscal year in accordance with FASB ASC Topic 718.  The assumptions used for determining the value of stock awards and options are set forth in the relevant Cadiz Inc. Annual Report to Stockholders in Note 9 to the Consolidated Financial Statements, "Stock-Based Compensation Plans and Warrants".  All Stock Awards listed were approved by Stockholders as part of the 2014 Equity Incentive Plan and became fully vested and were issued in 2017. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | All Other Compensation includes a 401k match that is generally available to all employees.  Messrs. Brackpool and Shaheen each received $11,000 in 401k matching contributions in 2018.  In 2018, Mr. Brackpool's Other Compensation also includes $33,936 of company paid expenses related to a leased automobile.  Mr. Shaheen's Other Compensation for 2018 includes $1,587 in a car allowance.  The value of perquisites for Mr. Slater was less than $10,000, and thus no amount relating to perquisites is included in the Summary Compensation Table. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                     |    | Option Awards                                          |    | Stock Awards                                             |
|--------------------------|--------------|--------------------------------------------------------|--------------|----------------------------------------------------------|
|  Name               |    | SecuritiesUnderlyingUnexercisedOptions (#) Exercisable |    | SecuritiesUnderlyingUnexercisedOptions (#) Unexercisable |    | OptionExercise Price ($) |    | OptionExpiration Date |    | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |    | Equity Incentive Plan Awards:  Marked or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) |
|  Scott Slater       |    |  100,000(1)                                       |    |   -                                            |    |  12.51 |    |  4/12/21 |    |  - |    |  - |
|                     |         |                                                   |         |                                                     |   |   |   |   |   |   |   |   |
| Timothy J. Shaheen  |         |  100,000(1)                                       |         | -                                                        |   | 11.50  |   | 1/14/20 |   | - |   | - |
|                     |         |                                                   |         |                                                     |   |   |   |   |   |   |   |   |
| Keith Brackpool     |         | 200,000(1)                                        |         | -                                                        |   | 11.50 |   | 1/14/20 |   | - |   | - |
| (1) | Options granted by the Company under the 2009 Equity Incentive Plan. |
|-----|----------------------------------------------------------------------|
|               |         | Option Awards                       |         | Stock Awards                                 |
|--------------------|--------------|-------------------------------------|--------------|----------------------------------------------|
| Name               |    | Shares Acquiredon Exercise (#) |    | Value Realizedon Exercise ($) |    | Shares Acquiredon Vesting (#) |    | Value Realizedon Vesting ($) |
| Scott Slater       |    | -                                   |    | -                                            |    | - |    | - |
|               |         |                                |         |                                         |   |   |   |   |
| Timothy J. Shaheen |         | -                                   |         | -                                            |   | - |   | - |
|               |         |                                |         |                                         |   |   |   |   |
| Keith Brackpool    |    | -                                   |    | -                                            |    | - |    | - |
| Name               |   | Benefit                        |   | Termination without Cause or Resignation upon Company Material Breach ($) |    |   | Death or Disability ($) |   |    | TerminationFollowing Change of Control ($) |   |
|--------------------|--------|--------------------------------|--------|---------------------------------------------------------------------------|---------|--------|-------------------------|--------|---------|--------------------------------------------|--------|
|               |   |                           |   |                                                                      |    |   |                    |   |    |                                       |   |
| Scott Slater       |   | Salary                         |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
|               |   | Bonus                     |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
|                    |   | Equity Acceleration       |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
|                    |   | Benefits Continuation(1)  |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
| ****               |   | Total Value               |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
|               |   |                           |   |                                                                      |    |   |                    |   |    |                                       |   |   |   |   |
| Timothy J. Shaheen |   | Salary                         |   |                                                                      | 175,000 |   |                    |   | 175,000 |                                       |   |   | 350,000 |   |
|                    |   | Bonus                     |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
|                    |   | Equity Acceleration       |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
|                    |   | Benefits Continuation(1)  |   |                                                                      | 23,162  |   |                    |   | -       |                                       |   |   | 46,323 |   |
| ****               |   | Total Value               |   |                                                                      | 198,162 |   |                    |   | 175,000 |                                       |   |   | 396,323 |   |
|               |   |                           |   |                                                                      |    |   |                    |   |    |                                       |   |   |   |   |
| Keith Brackpool    |   | Salary                         |   |                                                                      | 275,000 |   |                    |   | 550,000 |                                       |   |   | 550,000 |   |
|                    |   | Bonus                     |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
|                    |   | Equity Acceleration       |   |                                                                      | -       |   |                    |   | -       |                                       |   |   | - |   |
|                    |   | Benefits Continuation(1)  |   |                                                                      | 68,154  |   |                    |   | -       |                                       |   |   | 132,308 |   |
|               |   | Total Value               |   |                                                                      | 341,154 |   |                    |   | 550,000 |                                       |   |   | 682,308 |   |
| (1) | The benefits continuation amounts include car allowances, 401(k) matching benefits and paid vacation. |
|-----|-------------------------------------------------------------------------------------------------------|
| Name                |   | Fees Earnedor Paid in Cash ($) |   |   | StockAwards ($)(1) |   |   | OptionAwards ($)(2) |   |   | Total ($) |
|---------------------|--------|--------------------------------|--------|--------|--------------------|--------|--------|---------------------|--------|--------|-----------|
| John A Bohn         |   |                           | 22,500 |   |               |   | 5,000  |                |   |   | -         |   |   |   | 27,500 |
| Jeffrey J. Brown    |   |                           | -      |   |               |   | 27,500 |                |   |   | -         |   |   |   | 27,500 |
| Stephen E. Courter  |   |                           | 30,000 |   |               |   | 20,000 |                |   |   | -         |   |   |   | 50,000 |
| Geoffrey Grant      |   |                           | -      |   |               |   | 50,000 |                |   |   | -         |   |   |   | 50,000 |
| Winston H. Hickox   |   |                           | 30,000 |   |               |   | 20,000 |                |   |   | -         |   |   |   | 50,000 |
| Murray H. Hutchison |   |                           | -      |   |               |   | 50,000 |                |   |   | -         |   |   |   | 50,000 |
| Richard Nevins      |   |                           | -      |   |               |   | 50,000 |                |   |   | -         |   |   |   | 50,000 |
| Raymond J. Pacini   |   |                           | 30,000 |   |               |   | 20,000 |                |   |   | -         |   |   |   | 50,000 |
| (1) | This column discloses the dollar amount of compensation cost recognized in 2018 based on the fair value at grant date in accordance with FASB ASC Topic 718.  These awards were valued at the market value of the underlying stock on the date of grant in accordance with FASB ASC Topic 718. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Directors of the Company do not receive stock option awards. |
|-----|--------------------------------------------------------------|
| Mr. Scott Slater (CEO) total annual compensation          |   | $         | 600,000 |   |
|-----------------------------------------------------------|--------|-----------|---------|--------|
|                                                      |   |      |    |   |
| Median Employee total annual compensation                 |   | $         | 190,900 |   |
|                                                      |   |      |    |   |
| Ratio of CEO to Median Employee total annual compensation |   | 3.14:1.00 |    |
|  Name and Address                                                                                                                                                                                                                         | Amount and Nature ofBeneficial Ownership | Percentof Class |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------|-----------------|
|                                                                                                                                                                                                                                           |                                     |            |
| Hoving & Partners SAJan-Paul Menke30A Route de CheneCH-1208, GenevaSwitzerland                                                                                                                                                             | 8,353,960 (1)                            | 31.84%          |
|                                                                                                                                                                                                                                           |                                     |            |
| LC Capital Master Fund, Ltd.LC Capital Partners LPLC Capital Advisors LLCLC Offshore Fund, Ltd.Lampe, Conway & Co., LLCSteven G. LampeRichard F. Conwayc/o Lampe, Conway & Co., LLC680 Fifth Avenue, 12th FloorNew York, NY 10019-5429 | 7,014,779 (2)                       | 21.69%     |
|                                                                                                                                                                                                                                           |                                     |            |
| Water Asset Management LLCTRF Master Fund (Cayman) LPDisque D. Deane, Jr.Matthew J. DiserioMarc Robert509 Madison AvenueSuite 804New York, NY 10022                                                                             |  3,258,219(3)                       | 12.42%          |
|                                                                                                                                                                                                                                           |                                     |            |
| Nokomis Capital, L.L.C.Brett Hendrickson2305 Cedar Springs Road, Suite 420Dallas, TX 75201                                                                                                                                                | 2,911,000 (4)                            | 9.99%           |
| BlackRock Inc.BlackRock Advisors, LLCBlackRock Investment Management (uk), Ltd.BlackRock Asset Management Canada Ltd.BlackRock Fund AdvisorsBlackRock Institutional Trust Company, National Association BlackRock Financial Management, Inc.BlackRock Japan Co., Ltd.BlackRock Investment Management, LLC55 East 52nd Street New York, NY 10055 | 1,665,449 (5)      | 6.35%  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                            |               |   |
| The Vanguard GroupVanguard Fiduciary Trust Company100 Vanguard Blvd.Malvern, PA 19355                                                                                                                                                                                                                                                           | 1,320,020 (6)      | 5.03%  |
|                                                                                                                                                                                                                                                                                                                                            |               |   |
| Keith Brackpoolc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071                                                                                                                                                                                                                                                                        | 345,000(7)         | 1.3%   |
| Timothy J. Shaheenc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071                                                                                                                                                                                                                                                                          | 191,500(8)         | *      |
|                                                                                                                                                                                                                                                                                                                                            |               |   |
| Geoffrey Grantc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071                                                                                                                                                                                                                                                                              |  166,241(9)   | *      |
|                                                                                                                                                                                                                                                                                                                                            |               |   |
| Scott S. Slaterc/o 550 S. Hope St., Suite 2850Los Angeles, CA  90071                                                                                                                                                                                                                                                                  |   109,000(10) | *      |
|                                                                                                                                                                                                                                                                                                                                            |               |   |
| Winston H. Hickoxc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071                                                                                                                                                                                                                                                                           | 105,765(11)        | *      |
|                                                                                                                                                                                                                                                                                                                                            |               |   |
| Murray Hutchisonc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071                                                                                                                                                                                                                                                                            | 51,543             | *      |
|                                                                                                                                                                                                                                                                                                                                            |               |   |
| Raymond J. Pacinic/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071                                                                                                                                                                                                                                                                           | 26,676             | *      |
| Stephen Courterc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071  | 23,948 | *      |
|----------------------------------------------------------------------|--------|--------|
|                                                                 |   |   |
| Richard Nevinsc/o o 550 S. Hope St., Suite 2850Los Angeles, CA 90071 | 11,412 | *      |
|                                                                 |   |   |
| Jeffrey Brownc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071    | 3,718  | *      |
|                                                                 |   |   |
| John A. Bohnc/o 550 S. Hope St., Suite 2850Los Angeles, CA 90071     | 893    | *      |
| All Directors and officers as a group(nine individuals) | 1,035,696 (7)(8)(9)(10)(11) | 3.89% |
|---------------------------------------------------------|----------------------------------|-------|

|  | * | Represents less than one percent of the 26,237,089 outstanding shares of common stock of the Company as of April 22, 2019. |
|--|---|----------------------------------------------------------------------------------------------------------------------------|

| (1.)  | Based upon a Form 13G/A filed on February 4, 2019, Hoving & Partners SA owns 8,353,960 shares of the Company's common stock. Hoving & Partners' filings with the SEC do not indicate which natural persons have the right to vote or dispose of the shares it presently owns.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| (2.)  | Based upon Form 13D/A filed on February 7, 2019 with the SEC by LC Capital Master Fund Ltd. ("Master Fund"), information provided by Master Fund and the Company's corporate records, Master Fund and affiliates beneficially own a total of  7,014,779 shares of the Company's common stock. Includes 759,492 shares of common stock presently outstanding. Includes 145,000 shares of common stock presently outstanding and held by Steven G. Lampe over which he has sole voting and dispositive power, but for which Master Fund disclaims beneficial ownership. Includes 6,040,137 shares of common stock issuable upon conversion of $40.771 million in Convertible Notes at a conversion rate of $6.75 per share as of April 22, 2019 and 70,150 shares of common stock issuable upon conversion of interest that will have accrued within 60 days of April 22, 2019. These securities, except for the common stock owned solely by Steven G. Lampe, are owned by Master Fund and may also be deemed to be beneficially owned by the named persons below by virtue of the following relationships: (i) LC Capital Partners, LP ("Partners") and LC Offshore Fund, Ltd. ("Offshore Fund") beneficially own 100% of the outstanding shares of Master Fund; (ii) LC Capital Advisors LLC ("Advisors") is the sole general partner of Partners; (iii) Lampe, Conway & Co., LLC ("LC&C") is investment manager to Master Fund, Partners, and Offshore Fund pursuant to certain investment management agreements and shares voting and dispositive power over the securities; and (iv) Steven G. Lampe and Richard F. Conway are the sole managing members of each of Advisors and LC&C and therefore, have indirect voting and dispositive power over securities held by Master Fund. Each of the persons named above, other than Master Fund, specifically disclaims beneficial ownership of these securities except to the extent of his or its pecuniary interest therein, if any. Master Fund and/or its affiliates have designated Mr. Stephen E. Courter and Mr. Richard Nevins, directors of the Company, as their designees on our Board of Directors.  |   |
| (3.)   | Based upon Schedule 13D/A filed on April 23, 2019 with the SEC, information provided by Water Asset Management LLC ("WAM") and the Company's corporate records, WAM and TRF Master Fund (Cayman) LP (together WAM-TRF) beneficially own 3,258,219 shares of the Company's common stock presently outstanding. Disque D. Deane, Jr., Matthew J. Diserio and Marc Robert are the managing members of WAM and Limited Partners in TRF. WAM and/or its affiliates have designated Mr. Jeffrey Brown and Mr. John Bohn, directors of the Company, as their designees on our Board of Directors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| (4.)   | Based upon a Schedule 13G/A filed on February 13, 2019 with the SEC, information provided by Nokomis Capital, L.L.C. ("Nokomis Capital") and the Company's corporate records,  Nokomis Capital owns or controls 4,015,733 shares of common stock upon conversion of $27.106 million in Convertible Notes at a conversion rate of $6.75 per share, of which only 2,911,000 are issuable as of April 22, 2019 and included in the calculation of beneficial ownership, because Nokomis Capital is prohibited from converting Convertible Notes to obtain ownership in excess of 9.99% of the Company's outstanding Common Stock. Does not include 1,104,733 shares of common stock otherwise issuable to Nokomis Capital upon conversion of Convertible Notes held as of April 22, 2019, plus 46,639 shares of common stock issuable upon conversion of interest that will have accrued within 60 days April 22, 2019, but which may not currently be issued due to the 9.99% beneficial ownership limitation. Nokomis Capital purchased the Convertible Notes through the accounts of certain private funds and managed accounts (collectively, the "Nokomis Accounts"). Nokomis Capital serves as the investment manager to the Nokomis Accounts and may direct the vote and dispose of the shares held by the Nokomis Accounts.  Mr. Brett Hendrickson is the principal of Nokomis Capital and may direct the vote and disposition of the shares held by the Nokomis Accounts. |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| (5.)   | Based upon a Form 13G filed on February 4, 2019, BlackRock, Inc. and affiliates own 1,665,449 shares of the Company's stock. BlackRock has sole power to vote or to direct the vote for 1,601,557 shares and sole power to dispose of or to direct the disposition of 1,665,449 shares. Blackrock filings with the SEC indicate that various persons have the right to control its ownership of the Company's common stock and no one person at Blackrock has control of more than five percent of the total common stock shares outstanding.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| (6.)   | Based upon a Form 13G filed on February 11, 2019, the Vanguard Group owns 1,320,020 shares of the Company's stock. Vanguard has sole power to vote for and shared dispositive power as to 19,574 shares and sole power to dispose of or to direct the disposition of 1,300,446 shares.  Vanguard's filing indicates that Vanguard Fiduciary Trust Company ("VFTC"), a wholly-owned subsidiary of The Vanguard Group, Inc., is the beneficial owner of 19,574 shares as a result of its serving as investment manager of collective trust accounts.  Vanguard's filings with the SEC do not indicate which natural persons have the right to vote or dispose of the shares it presently owns.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| (7.)        | Includes 200,000 shares underlying presently exercisable options.                                                                                                                                                                                                                                  |   |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|             |                                                                                                                                                                                                                                                                                               |   |
| (8.)   | Includes 100,000 shares underlying presently exercisable options.                                                                                                                                                                                                                                  |   |
|             |                                                                                                                                                                                                                                                                                               |   |
| (9.)        | Includes 30,500 shares held in five separate trusts, each holding 6,100 shares for the benefit of Mr. Grant's children. The trustee of these trusts is not a member of the Reporting Person's immediate family. Mr. Grant disclaims beneficial ownership of the shares held by these trusts.  |   |
|             |                                                                                                                                                                                                                                                                                               |   |
| (10.)       | Includes 100,000 shares underlying presently exercisable options.                                                                                                                                                                                                                             |   |
|             |                                                                                                                                                                                                                                                                                               |   |
| (11.)       | Includes 35,000 shares held by Mr. Hickox's spouse.                                                                                                                                                                                                                                           |   |
| Plan Category                                            |   | Number of securities to be issued upon exercise of outstanding options, warrants and rights(a) |                    |   | Weighted-average exercise price of outstanding options, warrants and rights(b) |   |   | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))(c) |   |
|----------------------------------------------------------|--------|------------------------------------------------------------------------------------------------|-------------------------|--------|--------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|  Equity compensation plans approved by stockholders |   |                                                                                           |    492,500(1) |   |                                                                           | $      | 11.66  |                                                                                                                                           |   |   |    33,332(2) |   |
|                                                     |   |                                                                                           |                    |   |                                                                           |   |   |                                                                                                                                           |   |   |   |   |
| Total                                                    |   |                                                                                           | 492,500                 |   |                                                                           | $      | 11.66  |                                                                                                                                           |   |   | 33,332 |   |
| (1)    | Represents 492,000 options outstanding under the Company's 2009 Equity Incentive Plan as of December 31, 2018. |
|--------|----------------------------------------------------------------------------------------------------------------|
|   |                                                                                                           |
| (2)    | Represents 33,332 securities issuable under the Company's 2014 Equity Incentive Plan as of December 31, 2018.  |

| 31.3 | Certification of Scott Slater, Chief Executive Officer of Cadiz Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|------|--------------------------------------------------------------------------------------------------------------------------------|

| 31.4 | Certification of Timothy J. Shaheen, Chief Financial Officer and Secretary of Cadiz Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| CADIZ INC. |
|------------|
|       |
| By:        | /s/ Scott S. Slater  |
|       | Scott S. Slater, |
|       | Chief Executive Officer |
|       |   |
| Date:      | April 30, 2019 |
| Name and Position                                                                             | Date           |
|-----------------------------------------------------------------------------------------------|----------------|
|                                                                                          |           |
| /s/ Keith Brackpool                                                                           | April 30, 2019 |
| Keith Brackpool, Chairman                                                                     |           |
|                                                                                          |           |
| /s/ Scott S. Slater                                                                           | April 30, 2019 |
| Scott S. Slater, Chief Executive Officer, President and Director(Principal Executive Officer) |           |
|                                                                                          |           |
| /s/ Timothy J. Shaheen                                                                        | April 30, 2019 |
| Timothy J. Shaheen, Chief Financial Officer and Director                                      |           |
|  (Principal Financial and Accounting Officer)                                            |           |
|                                                                                          |           |
| /s/ John A. Bohn                                                                              | April 30, 2019 |
| John A. Bohn, Director                                                                        |           |
|                                                                                          |           |
| /s/ Jeffrey J. Brown                                                                          | April 30, 2019 |
| Jeffrey J. Brown, Director                                                                    |           |
|                                                                                          |           |
| /s/ Geoffrey T. Grant                                                                         | April 30, 2019 |
| Geoffrey T. Grant, Director                                                                   |           |
|                                                                                          |           |
| /s/ Winston H. Hickox                                                                         | April 30, 2019 |
| Winston H. Hickox, Director                                                                   |           |
|                                                                                          |           |
| /s/ Murray H. Hutchison                                                                       | April 30, 2019 |
| Murray H. Hutchison, Director                                                                 |           |
|                                                                                          |           |
| /s/ Raymond J. Pacini                                                                         | April 30, 2019 |
| Raymond J. Pacini, Director                                                                   |           |
| /s/ Stephen E. Courter                     | April 30, 2019 |
|--------------------------------------------|----------------|
| Stephen E. Courter, Director               |           |
|                                       |           |
| /s/ Richard NevinsRichard Nevins, Director | April 30, 2019 |

| 31.3 | Certification of Scott Slater, Chief Executive Officer of Cadiz Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|------|--------------------------------------------------------------------------------------------------------------------------------|

| 31.4 | Certification of Timothy J. Shaheen, Chief Financial Officer and Secretary of Cadiz Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------|