OTC: QWTR

Prior
to the Share Exchange, we had minimal revenue and our operations were limited to capital formation, organization and development of our
business plan. As a result of the Share Exchange, we ceased our prior operations and, through Quest NV, we now operate as an innovative
water technology company that provides sustainable and environmentally sound solutions to water-scarce regions.

Quest
NV was incorporated under the laws of Nevada on October 20, 2008 and commenced operations on February 20, 2009. Its operations to date
have consisted of business formation, strategic development, marketing, technologies development, negotiations with technologies companies
and capital raising activities. Prior to 2021, Quest NV had not generated any revenues since its inception.

Acquisition
of Quest NV

On
January 6, 2012, we completed the Share Exchange whereby we acquired all of the issued and outstanding capital stock of Quest NV in exchange
for 2,568,493 shares of our common stock (on a pre-forward split basis), or approximately 62.74% of our issued and outstanding common
stock as of the consummation of the Share Exchange. Subsequent to the Share Exchange, we completed a 20 for 1 forward split of our common
stock (the “Forward Split”) that became effective on March 1, 2012. Pursuant to the Forward Split, the 2,568,493 shares described
above increased to 51,369,860 shares.

4

As
a result of the Share Exchange, Quest NV became our wholly owned subsidiary and John Balanko and Peter Miele became our principal stockholders.
The Share Exchange was treated as a recapitalization effected through a share exchange, with Quest NV as the accounting acquirer and
the Company as the accounting acquiree.

In
connection with and effective upon the closing of the Share Exchange, Josh Morita, our former President, Chief Executive Officer, director
and principal stockholder, and Dr. Laura Sloan, our former director, resigned as members of our Board of Directors and Mr. Morita resigned
as our sole officer. Also effective upon the closing of the Share Exchange, John Balanko and Peter Miele were appointed to fill the vacancies
on our Board of Directors created by the resignations of Mr. Morita and Ms. Sloan. In addition, our Board of Directors appointed Mr.
Balanko as our President and Chief Executive Officer and Mr. Miele as our Vice President and Secretary, all effective upon the closing
of the Share Exchange. On April 13, 2012, we also appointed Mr. Miele as our Chief Financial Officer.

As
a result of our acquisition of Quest NV, Quest NV became our wholly owned subsidiary and we assumed the business and operations of Quest
NV. We then changed our name from RPM Dental, Inc. to Quest Water Global, Inc. to more accurately reflect our new business operations.

AQUAtap
Global

In
July 2021, we incorporated a new operating subsidiary, AQUAtap Global, Inc., a Wyoming corporation (“AQUAtap”). Through AQUAtap,
we expect to coordinate, facilitate and manage our current, planned and future safe water partnerships throughout Africa, Latin America
and the Caribbean that provide clean water initiatives for underserved communities. AQUAtap, together with its strategic global partners,
plans to establish separate partnerships in each country in which it operates and engage experienced local individuals and organizations
for operational expertise. We anticipate that this will enable these partnerships to enter into public-private partnerships (commonly
known as PPPs) with NGOs, strategic investors and various levels of government.

Quest
Water Solutions Inc., a British Columbia, Canada corporation and wholly owned subsidiary of Quest NV (“Quest BC”), will remain
as the technology provider to our safe water initiatives. Quest BC is responsible for designing, engineering and manufacturing our range
of products, and it also sells these water technology products directly to end users through our corporate sales & marketing divisions
and through global distributors and agents.

Industry
Overview

Water
is the single most important economic input to the global economy, and more specifically, to individual enterprises. The disparity between
supply and demand for clean water is an inexorable problem; yet the relentless international demand for its uninterrupted supply makes
water by far the most stable of all global commodities.

Safe
water and the prevention of waterborne disease are public health priorities in most developed countries, where clean water generally
is available for about one-third of the world’s population. However, water-related human health problems in developing countries
are daunting. Global estimates of the population in developing countries that lack access to safe drinking water range from 1.6 to 2.2
billion. UN-Water estimates that about 2.0 billion people face ‘economic’ water scarcity, which means that while water may
be physically available, they lack the necessary infrastructure to access it.

5

The
consequences of lack of safe water are severe. The United Nations’ World Health Organization claims that contaminated drinking
water is estimated to cause 485,000 diarrhoeal deaths each year with 297,000 of those being children under five years of age. By 2030,
half of the world’s population will likely be living in water-stressed areas. Most of this increase is expected to be within developing
countries, increasing pressure on already inadequate water resources.

Products
and Markets

We
focus on the manufacture and sale of two products: our AQUAtapTM Community Water Purification and Distribution system and
our WEPSTM (atmospheric Water Extraction and Purification System). Our AQUAtapTM system is an autonomous, decentralized,
self-contained, solar-powered water purification and distribution system, while our WEPSTM is a unique, proprietary water
extraction and purification system that produces clean drinking water from humidity in the atmosphere. We believe that our products can
provide the world’s growing population with access to safe, clean and reliable drinking water, with a primary focus in water-scarce
regions.

As
described above, we have focused our activities to date on North America, Latin America, the Caribbean and Africa, with emphasis on the
DRC, Angola and South Africa. There is a vast and increasing demand for a sustainable, cost-effective and decentralized continuous, reliable
supply of clean drinking water. We provide clean drinking water to end-users utilizing various formats of our water purification and
distribution systems that include selling drinking water to underserved communities at socially responsible rates, selling inexpensive
bulk drinking water, and providing government-subsidized community level drinking water. Applications of our systems include rural and
peri-urban community water supply, water supply for household needs, remote work site camps and water supply for disaster relief and
emergency preparedness

AQUAtap™
Community Water Purification & Distribution System

We
have developed the AQUAtap™, a proprietary community drinking water system that is a self-contained water purification system using either
a reverse osmosis membrane or ultrafiltration membrane, powered by photovoltaic solar panels and hosted in modified shipping containers.
Each AQUAtap™ unit is energy self-sufficient with minimal operational and maintenance costs. We believe that this product
represents the first truly environmentally sound solution to drinking water shortages as it is autonomous, decentralized and sustainable,
and because each unit can convert brackish, sea or contaminated fresh water into high-quality drinking water at a rate of up to 100,000
litres per day, suitable for up to 20,000 people. Reverse osmosis and ultrafiltration purification remove suspended solids, turbidity,
viruses, bacteria and most organic compounds.

The
AQUAtap™ system uses no chemicals in the pre- or post-purification process of the freshwater system that utilizes ultrafiltration membranes,
keeping maintenance time and costs to a minimum. The source water is pumped from a contaminated or saline source into an array of auto
backflushing sediment filters, through various auto backflushing pre-filters, then through either a reverse osmosis membrane (in the
event the source water contains salinity levels >15,000 parts per million) or an ultrafiltration membrane (for contaminated freshwater).
The purified water is then pumped through an ultraviolet sterilization unit prior to being pumped into one of two internal clean water
holding tanks, then through a second ultraviolet sterilization unit prior to being dispensed by the end user. The pumps and compressors
are powered by a series of batteries that are charged through photovoltaic panels that are mounted on a solar frame on the roof of the
AQUAtap™.

6

Our
target market for this product includes non-governmental organizations, governmental agencies, land developers, emergency management
and disaster preparedness organizations, and underserved rural and peri-urban communities in emerging markets and developed countries.

WEPS™
(Water Extraction and Purification System)

In
addition to the AQUAtap™ solar-powered water purification system, we have also developed a technology known as WEPS™ (atmospheric
Water Extraction and Purification System), that produces potable water from humidity in the atmosphere. The WEPS™ technology works by
converting humidity into water, otherwise known as atmospheric water extraction. The unit draws in ambient air from the surrounding atmosphere,
which passes through an air filtration system to remove any airborne contaminants. The filtered air then passes through the proprietary
water extraction system, which efficiently removes moisture (condensate). The condensate is then sent through a multi-step water filtration
and purification process. The result is contaminant- and bacteria-free, pure drinking water.

The
design of the WEPS™ system incorporates elements of proven technology combined with our proprietary process, specifically designed
to meet the climatic conditions and local regulatory framework of the installation site. The concept behind WEPS™ is to obtain an alternative,
sustainable, pure source of water without exploiting current, limited groundwater resources. Utilizing our proprietary technology, vapor
is captured from the troposphere before it condenses, falls to earth in the form of rain or snow and becomes contaminated as it comes
in to contact with industrial waste and chemicals, agricultural pollutants and human contaminants.

Our
target market for this product includes commercial bottled water operations, agricultural irrigation, industrial capture and reuse, and
bulk local and residential supply. The WEPS™ systems are modular and scalable in design, allowing for water production from a few hundred
litres to tens of thousands of litres per day.

Development
of Business and Growth Strategy

Our
goal is to address the vital issue of water quality and water supply by providing an alternative, sustainable source of pure water at
the smallest possible environmental cost to global areas in need, while becoming a leading company in providing decentralized, turn-key
solutions using alternative energy for the purification, desalination and distribution of clean drinking water. As of the date of this
annual report, our primacy focus is on forming partnerships on a global scale and establishing clean water initiatives using our AQUAtap™
Community Water Purification & Distribution systems.

In
early 2012, we installed our first AQUAtap™ Community Water Purification & Distribution system in the Republic of Angola as
a pilot project in association with the Angolan Ministry of Industry, which was responsible for the technical assessment and evaluation
of all new water technologies intended for use under the ‘Water for All’ program initiated by then-President Dos Santos.
The system was installed in Bom Jesus, a small, rural community with a population of 500 located approximately 35 kilometres southeast
of the capital city of Luanda. The Bom Jesus AQUAtap™ system became operational in on March 1, 2012, with residents of the village initially
drawing approximately 10,000 litres of pure water a day. This was considered a successful pilot and paved the way for future business
within Africa.

7

On
June 10, 2019, Quest NV entered into a collaborative partnership with Dikembe Mutombo’s American Venture Mergers & Acquisitions,
LLC (Atlanta, GA) and Kalo Products SARL (Kinshasa, DRC), for the purpose of commencing a profitable safe water initiative in the DRC
utilizing Quest NV’s proprietary Build-Own-Operate community business model. In September 2019, the parties organized the AQUAtap™
Oasis Partnership SARL in the DRC (the “AQUAtap™ Partnership”) in furtherance of that purpose.

Phase
one plans for the DRC include the installation of 500 AQUAtap™ systems over 5 years in underserved rural and peri-urban communities
throughout the country. The first AQUAtap™ system was installed in a peri-urban community on the outskirts of the capital city
of Kinshasa on March 22, 2021 – the UN’s World Water Day. Clean, reliable water is sold to residents at socially responsible
prices through one of multiple cashless point of sale interfaces installed into each AQUAtap™ system.

In
keeping with our long-term growth strategy, we are planning to replicate the same business model that is currently being utilized in
the DRC in several other countries within Africa, Latin America and the Caribbean.

Our
secondary business objective in addressing the vital issue of water supply is through the sales and marketing of our WEPS™ products. We
currently have representatives for this product in Haiti and South Africa and a distributor in Bogota, Colombia.

WEPS™
provides an alternate, pure source of water without exploiting current freshwater resources. In addition to creating a sustainable and
reliable water source, other factors that differentiate the WEPS™ process from conventional water supply methods include low power consumption,
no harmful by-products and the fact that absolutely no chemicals are utilized in the process.

Proprietary
Build-Own-Operate Community Business Model

As
described above, we have developed an inclusive, Build-Own-Operate community business model that has the greatest potential capacity
to create ‘shared value’ for both business and society. Our model gives us the ability to effectively collaborate and partner
with governments and both local and international organizations to establish self-serve water vending to underserved, marginalized rural
and peri-urban communities. The model implements data capture, monitoring and fully transparent accountability of business and financial
operations to measure performance to specific success metrics. Local personnel will be hired in each country to install, operate, maintain
and service the AQUAtap™ systems, facilitating further impact and socioeconomic benefits. We anticipate that the advantages arising
from our decentralized, holistic and impactful approach will in turn create resilient communities.

8

Suppliers

Many
of the components we use in our products are readily available from multiple world-wide manufacturers. We currently use specific suppliers
for certain proprietary components and technologies, including Aquamat SA, Pure Aqua, Inc., Master Water Conditioning Corporation, Susteq
B.V. and UV Pure Technologies Inc.

Competition

We
have identified the need to supply clean drinking water to rural and peri-urban communities in emerging markets by providing economically
viable, decentralized, turnkey solutions. We believe this is a good opportunity for us to take advantage of a very specific, targeted
market by providing solar-powered, fully-autonomous water purification and distribution systems to populated areas where clean water
is scarce.

This
is a far different market than that addressed by a large segment of the industry which has concentrated on the multi-billion dollar municipal
water treatment sector, or the equally large residential sector. The municipal solution requires significant investment for infrastructure
development, for example, building water purification plants and laying miles of distribution pipes. Products for residential markets
do not offer the performance or features to meet the needs of the first response market or the needs of the underserved communities in
emerging markets.

We
have identified several organizations that provide clean drinking water to communities in emerging markets, including WaterHealth International,
Safe Water Network, Charity: Water, Water.org, WaterAid America Inc. and One Drop Foundation. We believe that we have the following competitive
advantages as compared to our competitors:

●Only
two of the organizations listed above sell the water to the population, making their offering
truly sustainable and similar to that of our company’s business model. The other competitors
must rely upon charitable donations.

●The
AQUAtap™ system not only purifies and stores the produced water, but also contains
a distribution point for the end user. Most of our competitors use either an unsophisticated
purification process or none at all.

●The
AQUAtap™ system is configurable to the source water, thereby providing the option of
either a reverse osmosis membrane (in the event of saline or brackish source water) or an
ultrafiltration membrane (in the event of contaminated fresh source water). Most of the competitors
listed above either use no source of purification or are limited in their offering.

●The
AQUAtap™ system has higher qualities as compared to our competitors’ for the
specific markets that we are pursuing. For example, several of our competitors rely on wells
and boreholes, pumping the water to the surface with very little in the way of purification.
And of those that do purify the water, most do not use reverse osmosis membranes for brackish
or seawater desalination. They also operate from grid or generator power and do not offer
solar power as an option, further rendering their systems unsuitable.

9

The
markets in which we intend to operate are highly competitive with respect to performance, quality and price of the water. We anticipate
that we will directly compete with some of those competitors identified above, as well as with other local, regional and water treatment
service and equipment providers. In the future, we may face further competition from new market entrants and possible alliances between
existing competitors. Some of our competitors have, or may have, greater financial, marketing and other resources. As a result, competitors
may be able to respond more quickly to new or emerging trends and changes in technology, benefit from greater purchasing economies, offer
more aggressive pricing to customers or devote greater resources to the promotion of their products than we are capable of accomplishing.
There can be no assurance that we will be able to successfully compete in the future with such competitors. The failure to successfully
compete could have an adverse effect on our operating results.

Intellectual
Property

On
June 18, 2013, the United States Patent and Trademark Office registered the trademark for our AQUAtap™ system.

Employees

We
currently have two full time employees and nine independent contractors working with us. From time to time, we may hire additional workers
on a contract basis as the need arises.