Alkaline Water : Corporate Presentation – September 2020

THE ALKALINE WATER COMPANY

Corporate Presentation

September 2020

NASDAQ: WTER |CSE:WTER

Cautionary Note Regarding Forward-Looking Statement and Health Claims

This presentation contains forward-looking statements relating The Alkaline Water Company Inc. (the "Company"). Statements in this presentation that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the following: Low familiarity of alkaline water providing an opportunity for continued growth; the Company's plans for brick and mortar expansion; the statements regarding continued geographical expansion; the statements regarding the value of the Alkaline water category; the statements relating to the Company's growth potential and growing national footprint; the statements regarding the Company's plan to enter new category of product, the statements regarding the large opportunity to penetrate new channels; the Company's plans for product and category expansion, including the expansion into CBD product lines such as CBD extract-infused water, ingestible CBD products and topical CBD products; the Greenfield market opportunities for ingestible CBD products in wellness retailers such as GNC and Vitamin Shoppe; the Greenfield market opportunities for topical CBD products in beauty retailers such as Ultra, Sephora and Neiman Marcus and apparel retailers such as Designer Brands, Urban Outfitters and Hot Topic; the direct to consumer and E-Commerce opportunities with Amazon and Peapod; full spectrum hemp extract-infused water; and the statements regarding the growth potential of US CBD drinks market.

The material assumptions supporting these forward-looking statements include, among others, that the demand for the Company's products will continue to significantly grow; that the past production capacity of the Company's co- packing facilities can be maintained or increased; that there will be increased production capacity through implementation of new production facilities, new co-packers and new technology; that there will be an increase in number of products available for sale to retailers and consumers; that there will be an expansion in geographical areas by national retailers carrying the Company's products; that there will be an expansion into new national and regional grocery retailers; that there will be an expansion into new E-Commerce, home delivery, convenience, and healthy food channels; that there will not be interruptions on production of the Company's products; that there will not be a recall of products due to unintended contamination or other adverse events relating to the Company's products; and that the Company will be able to obtain additional capital to meet the Company's growing demand and satisfy the capital expenditure requirements needed to increase production and support sales activity. In addition, the Company's forecasted revenue is based on the Company's expectation that revenue growth will remain consistent for fiscal year 2020, significant sales growth will continue in Southern California, and significant orders will be received from the national-retailers and east coast grocery chains, which have only recently started selling the Company's products. In addition, the Company assumes that it will continue to be able to add co-packing plants and production capacity to satisfy customer demand. As the Company's sale cycle is an average of 14 days, a slowdown of the growth in any of the areas set forth above during fiscal 2020 or other events could cause actual results to vary materially from this forecast. In addition, sales growth, which may have a significant impact on quarterly and annual revenue, is difficult to predict.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, governmental regulations being implemented regarding the production and sale of alkaline water or any other products, including products containing hemp; the fact that consumers may not embrace and purchase any of the Company's infused water products; additional competitors selling alkaline water and enhanced water products in bulk containers reducing the Company's sales; the fact that the Company does not own or operate any of its production facilities and that co-packers may not renew current agreements and/or not satisfy increased production quotas; the fact that the Company has a limited number of suppliers of its unique bulk bottles; the potential for supply chain interruption due to factors beyond the Company's control; the fact that there may be a recall of products due to unintended contamination; the inherent uncertainties associated with operating as an early stage company; changes in customer demand and the fact that consumers may not embrace enhanced water products as expected or at all; the extent to which the Company is successful in gaining new long-term relationships with new retailers and retaining existing relationships with retailers; the Company's ability to raise the additional funding that it will need to continue to pursue its business, planned capital expansion and sales activity; and competition in the industry in which the Company operates and market conditions.

These forward-looking statements are made as of the date of this presentation, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this presentation are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Readers should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents the Company files with the SEC,, available at www.sec.gov, and on the SEDAR, available at www.sedar.com.

The Company has not conducted any clinical studies regarding the health benefits of alkaline water and accordingly makes no claims as to the benefits of alkaline water.

Growing National Footprint

Alkaline88® Well Positioned in Traditional Retail Channels	3

Business Model = Strong Execution During

Peak Demand

		Total 2-month Sales $13.3M
				$7.1
	114%	$6.2	171%
$ in Millions	Growth*		Growth*
$2.9		$2.6
	Mar-19	Mar-20	Apr-19	Apr-20

The Alkaline Water Company

Delivered record March and April sales growth of approximately 114% and 171%, respectively.

Estimated 30% more households enjoyed the smooth taste of Alkaline88® during demand peak.

Increased throughput to meet demand.

• Domestic supply-chain supports rapid raw material deliveries.
• Multiple co-packers strategically located create logistical efficiencies .
• Key vendor status gives us priority for production of and delivery of finished goods.

Introduced eco-friendly aluminum bottles to the California and Texas markets.

4

Growth represents year over year from prior year month