X0306 4 2019-02-24 0 0001422841 AquaVenture Holdings Ltd WAAS 0001237644 HANRAHAN PAUL T C/O CONYERS CORP. SERVICES (B.V.I.) LTD. COMMERCE HOUSE, WICKHAMS CAY 1 ROAD TOWN D8 VG1110 VIRGIN ISLANDS, BRITISH 1 0 0 0 Ordinary Shares 18903 D Deferred Compensation - Phantom Share Unit 2019-02-24 4 A 0 5540 0 A Ordinary Share 5540 5540 D Each phantom share unit (which is in the form of a deferred compensation share unit) is the economic equivalent of one ordinary share of the Issuer. Represents the number of phantom share units credited to the reporting person's deferred account pursuant to the Issuer's Independent Directors' Deferred Compensation Program (the "Program") which was established under the Issuer's 2016 Share Option and Incentive Plan (the "Plan"). The number of whole and fractional phantom share units credited to the reporting person's deferred account is equal to the number of Restricted Share Units that would otherwise be granted on such date. 100% of the phantom share units granted shall vest on February 24, 2020. Once vested, the phantom share units credited to the reporting person's deferred account shall be settled in ordinary shares upon the earlier of the reporting person's death, disability, separation from the board, sale event (as defined in the Plan) or December 31, 2021 /s/ Chad Schafer, attorney-in-fact 2019-02-26