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January 1, 2023

Global Water Technologies releases annual shareholder letter

Dear Shareholders of Global Water Technologies,

Turning the page to a new year after one of the most volatile stock markets since 2008, we look forward to new business opportunities that will add value for our stakeholders in 2023.

After successfully completing and maintaining compliance with new SEC amendments to Exchange Act Rule 15c2-11, GWTR stock continues to hold its upgraded status of Current Information on OTC Markets. This should help us as we explore possible acquisitions of technology and business operations that can benefit from access to capital markets.

While market conditions in 2022 resulted in much lower deal flow than expected at the outset of the year, the company researched and met with a number of potential candidates and continues to have discussions with several that may be a good fit. Although the company does not comment on such ongoing activities, updates will be provided if initial discussions result in material events.

The federal infrastructure funding for water projects in the United States continues to move slowly through state programs with mixed results on local activity. While the record amounts approved by Congress going into 2022 have led to increased discussion about water efficiency and innovation, the actual impact on improvements has been muted by the fragmented nature of the industry and few coordinated efforts. That is frustrating for many who have worked on changing the process over the past 10 years.

As noted in November, the company responded to slower activity in corporate deal flow and infrastructure projects by focusing on new licensing and distribution agreements that build on its legacy non-chemical water treatment business. Those efforts should continue in 2023 and lead to initial revenues and new partnerships.

In 2022, shares of Global Water Technologies traded between $0.016 and $0.10 with a closing price of $0.028 and volume of 1,111,560. In 2021, shares of Global Water Technologies traded between $0.014 and $0.34 with a closing price of $0.07 and volume of 2,648,279.

The number of common shares at December 31, 2022 was 26,173,955 and the number of free-trading shares remains at 5,895,503. The company has reserved 2.4 million shares for convertible promissory notes totaling $73,500. Additional shares may be issued as the company seeks adequate funding to execute its business plan and further upgrade its SEC compliance.

We wish all our stakeholders a most prosperous new year and thank you for your continued support.


Sincerely,

Erik Hromadka
Chairman and CEO


FORWARD-LOOKING STATEMENT:
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

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