X0306 4 2022-11-23 0 0001532390 ALKALINE WATER Co INC WTER 0001952472 RAUCH DAVID ERIC 16767 N PERIMETER DRIVE, SUITE 320 SCOTTSDALE AZ 85260 1 0 0 0 Common Stock 2022-11-23 4 P 0 80000 0.25 A 80000 I David and Julie Rauch Trust Series E Preferred Stock 2022-11-23 4 P 0 100000 1.00 A 100000 I David and Julie Rauch Trust Stock Options 0.25 2022-11-16 2032-11-16 Common 100000 100000 D These shares are issued at a deemed price of $0.25 in consideration for the execution of a subscription agreement for the purchase of the Series E Preferred Stock. Each share of Series E Preferred Stock is convertible, after November 23, 2023, at the option of The Alkaline Water Company Inc. (the "Company"), into that number of units of the Company (each, a "Unit") determined by dividing the stated value ($1.00 per share) of such share by $0.25. Each Unit will consist of one share of common stock and one-half of one warrant with each whole warrant entitling the holder to acquire one share of common stock at an exercise price of $0.3125 for three years following conversion. A holder may, at its option, after January 31, 2023, convert all, but no less than all, of shares of Series E Preferred Stock held by such holder into that number of Units determined by dividing the stated value of such shares by $0.25. Each share of the Series E Preferred Stock will also automatically convert, upon the occurrence of a certain fundamental transaction, into that number of Units determined by dividing the stated value of such share by $0.25. David Rauch and Julie Rauch are the only trustees and the only beneficiaries of the David and Julie Rauch Trust. Julie Rauch is the spouse of David Rauch. These options vest as follows: (i) 50% on the first year anniversary of the grant date and (ii) 50% on the second year anniversary of the grant date. /s/ David Rauch 2022-11-25