QS Energy Inc

As of June 1, 2021, our executive offices were moved to 3606 Challenger Way, Unit 1, Carson City, Nevada 89706, under a lease providing for a four year term at approximately $4,100 per month. Effective October 31, 2022, the Company terminated the lease and has no further obligation.

The Company’s former executive offices were located in Tomball, Texas (“Tomball Facility”) and leased from JBL Energy Partners, an entity owned by Jason Lane, former Director and Chairman of the Board of the Company who resigned in April 2021. The Tomball Facility was under a month-to-month lease at a lease rate of $5,000 per month, as amended. Total rent expense under this lease during the year ended December 31, 2021 was $8,000. The Tomball Facility lease with Lane was terminated in connection with the resignation of Mr. Lane. At May 1, 2021, the Company agreed to continue to lease a portion of the Tomball facility from the landlord on a month to month basis at $1,000 per month. The Company also rents a storage facility in Tomball on a month-to-month basis for $250 per month, and a small office and storage facility in Carson City, Nevada on a month to month basis for a monthly rental of $1,000.

We believe our facilities are adequate to meet our current and near-term needs.