Mr. Ronnie Jaegermann reports

WATER WAYS ANNOUNCES INTENTION TO ISSUE SHARES TO AN EXECUTIVE

Water Ways Technologies Inc. has provided an update regarding its Chinese subsidiary Irri-Altal (Shanghai) Agriculture Technology Co. Ltd. (Irri Shanghai).

On October 2, 2020, the Company entered into an agreement (the "Agreement") for the formation of Irri Shanghai. Pursuant to the Agreement the parties agreed that in consideration for 50% of Irri Shanghai (the "Chinese Shares"), the Company would issue, at the discretion of the Company's board of directors (the "Board") at some time in the future, post October 2, 2020, to its Chinese partner in Irri Shanghai (the "Vendor"), common shares in the capital of the Company ("Common Shares") equal to US$700,000 (the "Aggregate Consideration") at a price per Common Share of CAD$0.25, equaling a total 3,594,360 Common Shares (the "Subject Shares"). The Company reported the obligation to issue the Subject Shares as a contingent liability on its financial statements. The Company now wishes to advise that the Board has determined to issue the Subject Shares.

Post the Agreement, the Vendor became an officer of Irri Shanghai and therefore the Vendor is deemed an "Insider" (as such term is defined by the TSX Venture Exchange (the "TSXV"). The TSXV has provided approval to the issuance of the Subject Shares (the "Issuance") conditional on receipt of requisite shareholder approval at the next shareholders meeting of the Company (which will be held on December 29, 2023).

Pursuant to Multilateral Instrument 61-101 "Protection of Minority Security Holders in Special Transactions "MI 61-101"), the Issuance constitutes a " related party transaction" due to the fact that the Vendor is an officer of Irri Shanghai. The Company is relying on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the Issuance does not exceed 25% of the Company' s market capitalization.

About Water Ways Technologies

Water Ways Technologies Inc., through its subsidiaries, is a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers. Water Ways Technologies competes in the global irrigation water systems market with a focus on developing solutions with commercial applications in the micro and precision irrigation segments of the overall market. At present, Water Ways Technologies' main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. Water Ways Technologies is capitalizing on the opportunities presented by micro and smart irrigation, while also making a positive mark on society by making these technologies more widely available, especially in developing markets such as Africa and Latin America and developed markets such as China and Canada. Water Ways Technologies irrigation projects include vineyards, Cotton fields, Apple and Orange orchards, Blueberry, Medical Cannabis growers, fresh produce cooling rooms and more, in over fifteen countries.

We seek Safe Harbor.