The Alkaline Water Company Announces Preliminary Record Revenue Results for Second Quarter of Fiscal Year 2023

The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), the country’s largest independent alkaline water company and the Clean Beverage company, today announced it expects to report record revenue of approximately $19.6 million for the second quarter of fiscal year 2023, representing year-over-year growth of 28%.

“The second quarter fiscal 2023 was The Alkaline Water Company’s best sales quarter ever,” said Frank Lazaran, President and CEO of The Alkaline Water Company. “Alkaline88 continues to show strong growth at retail, with more consumers buying our products at more stores across the country than ever before, and that has translated into record revenue for the Company.”

According to Nielsen data for All Outlets Combined including Convenience (xAOC+Conv.) for the period ending October 8, 2022:

• Alkaline88 grew 36.6% year-over-year in dollar volume in the trailing 52 weeks
  • This growth rate was over 2.5 times greater than that of the overall Value-Added Water category

• The Value-Added Water Category was the second-fastest-growing category behind only Water (for non-alcoholic categories above $100 million in total retail sales)

• Alkaline88’s 13-week retail sales tracked by Nielsen were over $26 million

“The Alkaline Water Company has grown to record revenue while increasing operational efficiency by executing our pathway to profitability strategy,” continued Mr. Lazaran. “We look forward to sharing the full results of this record quarter with our shareholders next week.”

The Company plans to release the full results for its second quarter fiscal 2023 on Monday, November 14^th, 2022 after market close. Management plans to host a conference call to discuss the results on the morning of Tuesday, November 15^th at 8:30 a.m. Eastern Time.

Conference Call Details:

Date: November 15, 2022
Time: 8:30 a.m. Eastern Time (ET)
Dial-in Number for U.S. and Canadian Callers: 877-407-3088
Dial-in Number for International Callers (Outside of the U.S. and Canada): 201-389-0927
Conference ID Number: 13734370

Selected preliminary financial results for the second quarter of Fiscal 2023

This news release presents preliminary results, for the period presented, of the Company. Included above are certain estimated preliminary unaudited financial results for the second quarter of fiscal 2023. These results are preliminary and subject to change, and there is a possibility that the Company’s actual results may differ materially from these preliminary estimates. These results are based on the information available to the Company as of the date of this news release.