On July 12, 2022, Golden Ally Lifetech Group, Inc. (the “Company”) entered into a Supplier Agreement (the “Supplier Agreement”) with Taucoin Asset Management, LLC (“TCAM”) pursuant to which the Company will supply TCAM with the Company's AQP water products for sale and distribution on a blockchain-based platform being developed to facilitate sales of the Company's products (the “Platform”). TCAM, and its related subsidiaries and affiliates, is a financial technology company that develops certain blockchain-based technology solutions for business enterprises. The Supplier Agreement sets the terms by which the Company will supply TCAM with the Company's AQP water products, including the process by which TCAM will submit orders, the Company's obligations with respect to the delivery of products, the parties' quality control rights and obligations, the parties' audit and inspection rights and obligations, and other matters related to the supply of the products (such as the parties' rights and obligations related to the Company's intellectual property and intellectual property that may be jointly conceived by the parties pursuant to orders submitted under the Supplier Agreement).

The Company is obligated under the Supplier Agreement to deliver an initial order of its product to TCAM no later than six months from the date of deployment of the Platform. The Supplier Agreement includes various other terms and conditions that are common for an agreement of this nature, including provisions related to insurance covenants of the Company, representations and warranties of the parties that are customary for an agreement of this nature, compliance obligations of each party, provisions related to limitation of liability, as well as certain covenants of the parties, such as confidentiality obligations. The term of the Supplier Agreement is initially for three-years, and, it will automatically renew for successive one-year terms unless either party provides a requisite termination notice.

The Supplier Agreement also provides parameters by which the parties may terminate it for certain specified reasons, such as for convenience, for cause, upon a change of control or for certain failures to perform. Also, on July 12, 2022, the Company and TCAM entered into a Strategic Alliance Agreement (the “Strategic Agreement”) related to the parties' collaboration and efforts in marketing and selling the Company's AQP water products through the Platform, selling licenses to clients to access the Platform, and related matters. TCAM will own all right, title and interest in and to the Platform.

Obligations of TCAM under the Strategic Agreement include the design and development of the Platform and developing and marketing memberships to the Platform. The Company is obligated to contribute to TCAM an amount equal to the cost of the on-going development, maintenance, and operations of the Platform, and a defined amount based on the gross sales price for the marketing of the memberships to the Platform and the Company's AQP water products. In turn, the Company will be due royalties under the Strategic Agreement deriving from its products sold on, and the memberships sold for, the Platform.

The Strategic Agreement includes various other terms and conditions that are common for an agreement of this nature, including provisions related to each party's rights and obligations with respect to its intellectual property, confidentiality covenants, covenants related to compliance obligations, provisions related to liability limitations, and the audit rights of the parties. The term of the Strategic Agreement is the longer of a three-year term or until completion of a final royalty payment, although the Strategic Agreement may also be terminated for convenience or cause under defined circumstances.