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January 1, 2024

Global Water Technologies releases annual shareholder letter

Dear Shareholders of Global Water Technologies,

We welcome 2024 as a new year of possibilities after having successfully navigated our small company through several years of volatility and change that impacted business across global economic markets.

As we noted at the start of 2023, the company continues to evaluate opportunities for potential mergers and acquisitions while also pursuing efforts to build on its legacy non-chemical water treatment business. Deal flow in the M&A space continued to track at a lower level and the company will carry several discussions with potential partners into the new year.

The company did make good progress in identifying new opportunities for non-chemical water treatment and previewed a new system in August that it is developing to integrate two technologies for desalination and disinfection in a manner that improves water and energy efficiency.

As part of that effort, the company engaged some initial engineering and consulting services and welcomed John Waters to its advisory board with his expertise in battery technology and manufacturing. During the fourth quarter, the company also completed the Producer-Led Innovation Challenge held by AgriNovus Indiana and expects to build on that work in the coming year.

The company is also reviewing potential opportunities from its previous work in the areas of trenchless technologies and smart water, which both apply to water infrastructure projects. While that sector has significant needs in the United States and we invested considerable efforts to provide solutions, the company pulled back from that work as state and local governments shifted priorities during the pandemic and therefore avoided problems caused by the slow and fragmented nature of those infrastructure programs. Global Water Technologies will evaluate those business prospects in 2024.

In 2023, shares of Global Water Technologies traded between $0.01 and $0.034 with a closing price of $0.03 and volume of 996,037. 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.

The number of common shares at December 31, 2023 was 28,773,955 and the number of free-trading shares remains at 5,895,503. The company has reserved 3.8 million shares for convertible promissory notes totaling $99,500. Additional shares may be issued as the company seeks adequate funding to execute its business plan and further upgrade its SEC compliance.

Thank you to all our shareholders who continue to support the company as we move forward and best wishes to both those who are new and the many who have been on this journey for a long time. Here’s to a great 2024!

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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