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 UNITED
STATES

 SECURITIES
AND EXCHANGE COMMISSION

 Washington,
D.C. 20549

 FORM
 10-K/A

 Amendment
No. 2

 (Mark
One)

 ANNUAL
 REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended: December 31, 2023

 TRANSITION
 REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the transition period from _______________________ to ____________________________________

 Commission
File Number: 001-41654

 CLEAN
ENERGY TECHNOLOGIES, INC.

 (Exact
name of registrant as specified in its charter)

 Nevada

 20-2675800

 (State
 or other jurisdiction of

 incorporation
 or organization)

 (I.R.S.
 Employer

 Identification
 No.)

 1340
Reynolds Avenue Unit 120, Irvine, California 92614 (Address of principal executive offices)

 (949) 273-4990

 (Registrant's
telephone number)

registered pursuant to Section 12(b) of the Act:

 Title
 of each class

 Trading
 Symbol(s)

 Name
 of each exchange on which registered

 Stock, par value $0.001

 CETY

 NASDAQ

registered pursuant to Section 12(g) of the Act:

 None

by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

by check mark whether the registrant (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to
be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was
required to submit such files).

 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated
filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated
filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.:

 Large
 accelerated filer

 Accelerated
 filer

 Non-accelerated
 filer

 Smaller
 reporting company

 Emerging
 growth company

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements.

by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation
received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).

by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 The
aggregate market value of common stock held by non-affiliates of the registrant as of June 30, 2023 was $ 20,721,204
based upon 11,840,688 shares held by non-affiliates and the closing price of $1.75 per share. Accordingly, effective as of June 30, 2023 the registrant's aggregate market value was less than $75 million and the registrant qualifies for "smaller
reporting company" status under Rule 12b-2 of the Exchange Act and is subject to the disclosure requirements and filing
deadlines for smaller reporting companies.

 The
number of shares of common stock outstanding on April 16, 2024 was 42,665,248 shares.

 DOCUMENTS
INCORPORATED BY REFERENCE

 None.

 explanatory
note

 Clean
 Energy Technologies, Inc. (the "Company") is filing this Amendment No. 2 (the "Amendment No. 2") to its
 Annual Report on Form 10-K for the fiscal year ended December 31, 2023, originally filed with the Securities and Exchange Commission
 (the "SEC") on April 16, 2024 (the "Original Filing") and later amended by the Amendment No. 1 on Form
 10-K/A filed on April 19, 2024 (the "Amendment No. 1"). The purpose of this Amendment No. 2 is to provide disclosures
 about the legal and operational risks associated with the Company's business operations in China in response to comments
 received from the SEC staff. Accordingly, the Company hereby (i) adds a section titled "Disclosures Relating to Our Chinese
 Operations" before Part I of the Form 10-K/A; (ii) amends and replaces in its entirety the section titled "Note about
 Forward-Looking Statements" before Part I of the Form 10-K/A; and (iii) amends and replaces in its entirety Item 1 and Item 1A
 of its Form 10-K/A.

 I n addition, as required by Rule 12b-15
of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), new certifications by the Company's principal
executive officer and principal financial officer are filed herewith as exhibits to this Amendment No. 2, under Item 15 hereof, pursuant
to Rule 13a-14(a) or 15d-14(a) of the Exchange Act. The Company is also including new certifications under Section 1350 of Chapter 63
of Title 18 of the United States Code (18 U.S.C. 1350) (Section 906 of the Sarbanes-Oxley Act of 2002).

 Except as described above, this Amendment
No.2 does not amend any other information set forth in the Original Filing or the Amendment No. 1. The
Amendment No. 2 continues to speak as of the date of the Original Filing and does not reflect events that may have occurred subsequent
to the date of the Original Filing. The Amendment No.
2 should be read in conjunction with the Original Filing, the Amendment No. 1, and with the Company's other filings with the SEC
subsequent to the Form 10-K.

 TABLE
OF CONTENTS

 Page

 Part
 I

 Item
 1.

 Item
 1A.

 Risk Factors

 Item
 1B.

 Unresolved Staff Comments

 Item
 2.

 Properties

 Item
 3.

 Legal Proceedings

 Item
 4.

 Mine Safety Disclosures

 Item
 5.

 Market for Registrant's Common Equity, related Shareholder Matters and Issuer Purchases of Equity Securities

 Item
 6.

 Selected Financial Data

 Item
 7.

 Management's Discussion and Analysis of Financial Condition and Results of Operation

 Item
 7A.

 Quantitative and Qualitative Disclosure about Market Risk

 Item
 8.

 Financial Statements and Supplementary Data

 Item
 9.

 Changes and Disagreements with Accountants on Accounting and Financial Disclosure

 Item
 9A

 Controls and Procedures

 Item

 Directors, Executive Officers and Corporate Governance

 Item

 Executive Compensation

 Item

 Security Ownership of Certain Beneficial Owners, management and Related Stockholder Matters

 Item

 Certain Relationships and Related Transactions and Director Independence

 Item

 Principal Accounting Fees and Services

 Item

 Exhibits

 Signatures

 Note about Forward-Looking Statements

 This
Annual Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words:
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "ongoing," "plan," "potential," "predict," "project,"
"should," "will," "would," or the negative of these terms or other comparable terminology, although
not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results
and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking
statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties
and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information
expressed or implied by the forward-looking statements in this report.

 Forward-looking
statements include, but are not limited to, statements concerning the following:

 our
 possible or assumed future results of operations;

 our
 business strategies;

 our
 ability to attract and retain customers;

 our
 ability to sell additional products and services to customers;

 our
 cash needs and financing plans;

 our
 competitive position;

 our
 industry environment;

 our
 potential growth opportunities;

 expected
 technological advances by us or by third parties and our ability to leverage them;

 Our
 inability to predict or anticipate the duration or long-term economic and business consequences of the ongoing COVID-19 pandemic;

 the
 effects of future regulation;

 our
 ability to protect or monetize our intellectual property;

 changes
 in United States and China trade policies and relations, as well as relations with other countries, and/or changes in regulations
 and/or sanctions;

 actions
 the Chinese government may take to intervene in or influence our operations;

 uncertainties
 in the Chinese legal system, such as Chinese regulations regarding acquisitions of companies based in mainland China by foreign investors
 and the ability of our Chinese subsidiaries to make payments to us; and

 approval,
 filing, or procedural requirements imposed by the China Securities Regulatory Commission ("CSRC") or other Chinese regulatory
 authorities in connection with issuing securities to foreign investors under Chinese law.

 You
should read any other cautionary statements made in this Annual Report as being applicable to all related forward-looking statements
wherever they appear in this Annual Report. We cannot assure you that the forward-looking statements in this Annual Report will prove
to be accurate and therefore prospective investors are encouraged not to place undue reliance on forward-looking statements. You should
read this Annual Report completely. Other than as required by law, we undertake no obligation to update or revise these forward-looking
statements, even though our situation may change in the future. We undertake no obligation to revise or update publicly any forward-looking
statements for any reason, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance
on these forward-looking statements.

 Disclosures
Relating to Our Chinese Operations

 Clean
Energy Technologies Inc. is a company incorporated in the State of Nevada with operations in North America, Europe, and Asia, including
in China. Our PRC Subsidiaries and Shuya, an entity in which we own a 49% equity interest, operate our natural gas trading operations
in China to source and supply natural gas to industries and municipalities located in China. Throughout this Annual Report, unless the
context requires otherwise, (i) "the Company," "we," "us" and "our" refer to Clean Energy
Technologies, Inc. on a consolidated basis with its wholly-owned subsidiaries; (ii) "the PRC Subsidiaries" refers specifically
to those wholly-owned subsidiaries of ours located in the People's Republic of China (including Hong Kong), which include Clean Energy Technologies (H.K.) Limited, Meishan Clean
Energy Technologies, Inc., Hainan Clean Energy Technologies, Inc., Element Capital International Limited (H.K.), Sichuan Hunya Jieneng
New Energy Co. LTD, and Jiangsu Huanya Jieneng New Energy Co., Ltd.; and (iii) "Shuya"
refers to Sichuan Hongzuo Shuya Energy Limited.

 We
face various legal and operational risks and uncertainties due to our operations in China. Our PRC Subsidiaries and Shuya could be adversely
affected by uncertainties with respect to the Chinese legal system. Rules and regulations in China can change quickly with little advance
notice. The interpretation and enforcement of Chinese laws and regulations involve additional uncertainties. Since administrative and
court authorities in China have significant discretion in interpreting and implementing statutory provisions and contractual terms, it
may be difficult to evaluate the outcome of administrative and court proceedings and the level of legal protection we enjoy. In addition,
the Chinese government exercises significant oversight and discretion over the conduct of the business of our PRC Subsidiaries and Shuya
and may intervene in or influence their operations as the government deems appropriate to further regulatory, political and societal
goals, which could result in a material change in their operations in China and/or the value of the securities we are registering for
sale, including causing the value of such securities to significantly decline or become worthless. Furthermore, the Chinese government
has recently exerted more oversight and control over overseas securities offerings and other capital markets activities and foreign investment
in China-based companies. Any such actions, once taken by the Chinese government, could significantly limit or completely hinder our
ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless.
See " Risk Factors — Risks Related to Doing Business in China – The PRC government exerts substantial influence over
the manner in which we conduct our business operations. It may influence or intervene in our operations at any time as part of its efforts
to enforce PRC law, which could result in a material adverse change in our operations and the value of the securities we are offering ";
and " — The approval or record filing of the CSRC, CAC, or other PRC government authorities may be required in connection
with our future capital raising activities under the PRC laws."

 Recently,
the PRC government initiated a series of regulatory actions and statements to regulate business operations in China with little advance
notice, including cracking down on illegal activities in the securities market, adopting new measures to extend the scope of cybersecurity
reviews, and expanding the efforts in anti-monopoly enforcement. We do not believe that we, our PRC Subsidiaries or Shuya are directly
subject to these regulatory actions or statements; however, because these statements and regulatory actions are new, it is highly uncertain
how soon legislative or administrative rule making bodies in China will respond to them, or what existing or new laws or regulations
will be modified or promulgated, if any, or the potential impact such modified or new laws and regulations will have on the daily business
operations or ability to accept foreign investments of our PRC Subsidiaries and Shuya. On December 24, 2021, nine government agencies
jointly issued the Opinions on Promoting the Healthy and Sustainable Development of Platform Economy, which provides that, among others,
monopolistic agreements, abuse of dominant market position and illegal concentration of business operators in the field of platform economy
will be strictly investigated and punished in accordance with the relevant laws. Neither our PRC Subsidiaries nor Shuya hold a dominant
market position in their product markets and they have not entered into any monopolistic agreement. Neither have they received any inquiry
from the relevant governmental authorities. The Cyberspace Administration of China ("CAC"), together with 12 other Chinese
regulatory authorities, released the final version of the Revised Measures for Cybersecurity Review, or the Revised Cybersecurity Measures,
in December 2021, which took effect on February 15, 2022. Pursuant to the Revised Cybersecurity Measures, critical information infrastructure
operators procuring network products and services and online platform operators carrying out data processing activities, which affect
or may affect national security, shall conduct a cybersecurity review pursuant to the provisions therein. In addition, online platform
operators possessing personal information of more than one million users seeking to be listed on foreign stock markets must apply for
a cybersecurity review. On November 14, 2021, the CAC published the Draft Regulations on the Network Data Security Administration (Draft
for Comments) (the "Security Administration Draft"), which provides that data processing operators engaging in data processing
activities that affect or may affect national security must be subject to cybersecurity review by the relevant Cyberspace Administration
of the PRC. We do not believe that our PRC Subsidiaries or Shuya are "online platform operators" within the meaning of the
Revised Cybersecurity Measures, and neither our PRC Subsidiaries nor Shuya currently possess over one million Chinese users' personal
information and do not anticipate that they will be collecting over one million Chinese users' personal information in the foreseeable
future. In addition, neither our PRC Subsidiaries nor Shuya will be subject to Security Administration Draft if the Security Administration
Draft is enacted as proposed, since they currently do not collect data that affects or may affect national security and we do not anticipate
that our PRC Subsidiaries or Shuya will be collecting data that affects or may affect national security in the foreseeable future.

 On
February 17, 2023, the CSRC promulgated the Trial Administrative Measures of the Overseas Securities Offering and Listing by Domestic
Companies, or the Trial Measures, and the relevant five guidelines, which became effective on March 31, 2023. The Trial Measures comprehensively
reformed the existing regulatory regime for overseas offering and listing of PRC domestic companies' securities and will regulate
both direct and indirect overseas offering and listing of PRC domestic companies' securities by adopting a filing-based regulatory
regime. Pursuant to the Trial Measures, PRC domestic companies that seek to offer and list securities in overseas markets, either in
direct or indirect means, are required to fulfill the filing procedure with the CSRC and report relevant information. The Trial Measures
provides that if the issuer meets both of the following criteria, the overseas securities offering and listing conducted by such issuer
will be deemed as indirect overseas offering by PRC domestic companies: (i) 50% or more of any of the issuer's operating revenue,
total profit, total assets or net assets as documented in its audited consolidated financial statements for the most recent fiscal year
is accounted for by domestic companies; and (ii) the principal parts of the issuer's business activities are conducted in mainland
China, or its principal place(s) of business are located in mainland China, or the majority of senior management staff in charge of its
business operations and management are PRC citizens or have their usual place(s) of residence located in mainland China. If we ever are
required by the CSRC to submit and complete the filing procedures for our future offerings of our securities, we cannot assure you that
we will be able to complete such filings in a timely manner, or even at all, which could significantly limit or completely hinder our
ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or become
worthless. Any failure by us to comply with such filing requirements under the Trial Measures may result in rectification, warnings,
and a fine between RMB 1 million and RMB 10 million on our PRC Subsidiaries or Shuya, which could adversely and materially affect our
business operations and financial outlook and could cause the value of our common stock to significantly decline or, in extreme cases,
become worthless.

 As
of the date of this Annual Report, these new laws and guidelines have not impacted the ability of our PRC Subsidiaries and Shuya to conduct
business and accept foreign investments; however, if (i) we inadvertently conclude that permissions or approvals are not required from
applicable PRC authorities or (ii) applicable laws, regulations, or interpretations change, and we are required to obtain such permissions
or approvals in the future, our ability to conduct our business in China may be materially impacted, the interest of the investors may
be materially and adversely affected and our common stock may significantly decrease in value.

 In
addition, we face risks associated with the Holding Foreign Companies Accountable Act, or HFCAA. Trading in our securities on U.S. markets,
including Nasdaq, may be prohibited under the HFCAA if the Public Company Accounting Oversight Board, or PCAOB, determines that it is
unable to inspect or investigate completely our auditor for two consecutive years. Pursuant to the HFCAA, the PCAOB issued a Determination
Report on December 16, 2021, which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms
headquartered in mainland China and Hong Kong because of positions taken by the authorities in those jurisdictions. In addition, the
PCAOB's report identified the specific registered public accounting firms which are subject to these determinations. On August
26, 2022, the PCAOB signed a Statement of Protocol Agreement with the CSRC and the Ministry of Finance (the "MOF") of the
PRC governing inspections and investigations of audit firms based in China or Hong Kong. On December 15, 2022, the PCAOB announced in
the 2022 Determination its determination that the PCAOB was able to secure complete access to inspect and investigate accounting firms
headquartered in mainland China and Hong Kong, and the PCAOB Board voted to vacate previous determinations to the contrary. Should the
PCAOB again encounter impediments to inspections and investigations in mainland China or Hong Kong as a result of positions taken by
any authority in either jurisdiction, including by the CSRC or the MOF, the PCAOB will make determinations under the HFCAA as and when
appropriate. Both our current auditor, TAAD LLP, and our former auditor, Fruci & Associates II, PLLC, are headquartered in the United
States and, as PCAOB-registered public accounting firms, they are required to undergo regular inspections by the PCAOB to assess its
compliance with the laws of the U.S. and professional standards. TAAD LLP and Fruci & Associates II, PLLC have been subject to PCAOB
inspections and are not among the PCAOB-registered public accounting firms headquartered in the PRC or Hong Kong that are subject to
PCAOB's determination of having been unable to inspect or investigate completely. Notwithstanding the foregoing, if it is later
determined that the PCAOB is unable to inspect or investigate our auditor completely, if there is any regulatory change or step taken
by PRC regulators that does not permit our auditor to provide audit documentations located in China or Hong Kong to the PCAOB for inspection
or investigation, or the PCAOB expands the scope of the Determination so that we are subject to the HFCAA, as the same may be amended,
you may be deprived of the benefits of such inspection. Any audit reports not issued by auditors that are completely inspected or investigated
by the PCAOB, or a lack of PCAOB inspections of audit work undertaken in China that prevents the PCAOB from regularly evaluating our
auditors' audits and their quality control procedures, could result in a lack of assurance that our financial statements and disclosures
are adequate and accurate, which could result in limitation or restriction to our access to the U.S. capital markets, and trading of
our securities, including trading on the national exchange and trading on "over-the-counter" markets, may be prohibited under
the HFCAA and our securities may be delisted by an exchange. See " Risk Factors — Risks Related to Doing Business in China
– Recent joint statement by the SEC and the PCAOB, rule changes by Nasdaq, and the Holding Foreign Companies Accountable Act all
call for additional and more stringent criteria to be applied to companies with operations in emerging markets upon assessing the qualification
of their auditors, especially the non-U.S. auditors who are not inspected by the PCAOB. These developments could add uncertainties to
our continued listing or future offerings of our securities in the U.S. "

 Cash
may be transferred within our organization in the following manners: (i) Clean Energy Technologies Inc. may transfer funds to the PRC
Subsidiaries and Shuya by way of capital contributions or loans, through intermediate holding subsidiaries or otherwise, as investments
or lendings, (ii) the PRC Subsidiaries may make dividends or other distributions to Clean Energy Technologies Inc. through intermediate
holding companies or otherwise, and (iii) Shuya may make dividends or other distributions to Clean Energy Technologies Inc., which indirectly
owns a 49% equity interest in Shuya, through intermediate holding companies or otherwise. Our abilities to use cash held in PRC or in
a PRC entity to fund operations or for other purposes outside of the PRC are subject to restrictions and limitations imposed by the PRC
government. Current PRC regulations only permit a wholly foreign-owned enterprise, or WFOE, to pay dividends to its offshore parent company
out of their retained earnings, if any, determined in accordance with Chinese accounting standards and regulations. In addition, the
majority of the revenues of our PRC Subsidiaries and Shuya are collected in RMB. Thus, foreign exchange shortages and foreign exchange
control may also limit their ability to pay dividends or make other payments or otherwise meet our obligations denominated in foreign
currencies. Furthermore, we may lose our ability to fund operations or for other uses outside of Hong Kong using cash in Hong Kong or
a Hong Kong entity if, in the future, the scope of the current restrictions and limitations applicable to PRC entities were to expand
to include Hong Kong or entities based in Hong Kong. Therefore, our ability to transfer cash between PRC entities and entities outside
of PRC may be restricted. See " Risk Factors – Risks Related to Doing Business in China – Our PRC Subsidiary are
subject to restrictions on paying dividends or making other payments to us, which may restrict our ability to satisfy our liquidity requirements
in the future " and " – PRC regulation of loans to and direct investment in PRC entities by offshore holding companies
and governmental control of currency conversion may delay or prevent us from making loans or additional capital contributions to our
PRC Subsidiaries " for details. As of the date of this Annual Report, (i) we have transferred $2,671,700 in total to our PRC
Subsidiaries, and (ii) JHJ, our wholly-owned subsidiary in the PRC, has transferred $701,836 in total to Shuya as a capital contribution
for the formation of Shuya. No other cash flows or transfers of other assets have occurred between us, our PRC Subsidiaries, and Shuya.
As of the date of this Annual Report, neither any of our PRC Subsidiaries nor Shuya has declared any dividends or made any other distributions
to the Company, and no such dividends or distributions are anticipated in the near future.

 Item 1. Business

 General

 The
Company's business and operating results are directly affected by changes in overall customer demand, operational costs and performance
and leverage of our fixed cost and selling, general and administrative ("SG&A") infrastructure.

 Product
sales fluctuate in response to several factors including many that are beyond the Company's control, such as general economic conditions,
interest rates, government regulations, consumer spending, labor availability, and our customers' production rates and inventory
levels. Product sales consist of demand from customers in many different markets with different levels of cyclicality and seasonality.

 Operating
performance is dependent on the Company's ability to manage changes in input costs for items such as raw materials, labor, and
overhead operating costs. Performance is also affected by manufacturing efficiencies, including items such as on time delivery, quality,
scrap, and productivity. Market factors of supply and demand can impact operating costs.

 Who
We Are

 We
develop renewable energy products and solutions and establish partnerships in renewable energy that make environmental and economic sense.
Our mission is to be a segment leader in the Zero Emission Revolution by offering eco-friendly green energy solutions, clean energy fuels
and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We target sustainable energy solutions
that are profitable for us, profitable for our customers and represent the future of global energy production.

 Our
principal businesses

 Waste
Heat Recovery Solutions – we recycle wasted heat produced in manufacturing, waste to energy and power generation facilities
using our patented Clean Cycle TM generator
to create electricity which can be recycled or sold to the grid.

 Waste
to Energy Solutions - we convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries
to electricity, renewable natural gas ("RNG"), hydrogen and bio char which are sold or used by our customers.

 Engineering,
Consulting and Project Management Solutions – We have expanded our legacy electronics
and manufacturing business and plan to manufacture component parts for our Waste Heat Recovery and Waste to Energy business and to provide
consulting services to municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies so they can identify,
design and incorporate clean energy solutions in their projects.

 CETY
HK

 Clean
Energy Technologies (H.K.) Limited ("CETY HK") consists of two business ventures in mainland China: (i) our natural gas
("NG") trading operations sourcing and suppling NG to industries and municipalities, operated through our PRC Subsidiaries and Shuya. The NG is principally used for
heavy truck refueling stations and urban or industrial users. We purchase large quantities of NG from large wholesale NG depots at
fixed prices which are prepaid for in advance at a discount to market. We sell the NG to our customers at prevailing daily spot
prices for the duration of the contracts; and (ii) our planned joint venture with a large state-owned gas enterprise in China called
Shenzhen Gas (Hong Kong) International Co. Ltd. ("Shenzhen Gas"), acquiring natural gas pipeline operator facilities,
primarily located in the southwestern part of China. Our planned joint venture with Shenzhen Gas plans to acquire, with financing
from Shenzhen Gas, natural gas pipeline operator facilities with the goal of aggregating and selling the facilities to Shenzhen Gas
in the future. According to our Framework Agreement with Shenzhen Gas, we will be required to contribute $8 million to the joint
venture which plans to raise in future rounds of financing. The terms of the joint venture are subject to the execution of
definitive agreements.

 Our
Business Strategy

 Our
strategy is focused on further developing our existing Waste Heat Recovery business while expanding into the rapidly growing markets
for Waste to Energy Solutions and integrated clean energy engineering, and project management services. We are initiating a strategic
transition to function increasingly as an independent power producer.

 Our
strategy focuses on three main elements:

 Expanding
 our Waste Heat Recovery product line to include waste heat recovery ORC systems producing over 1 MW of power so we can qualify for
 midsized and large heat recovery projects in the United States, China, Southeast Asian and Pacific Rim countries.

 Establishing
 a Waste to Energy business by selling our ablative thermal processing products based on proprietary HTAP technology and developing
 small and mid-sized waste to energy power plants producing electricity and RNG for the grid and methane, hydrogen and biochar for
 resale.

 Leveraging
 our engineering, procurement and manufacturing experience in Waste Heat Recovery and Waste to Energy to assist companies and EPCs
 incorporate clean energy solutions into energy and industrial construction projects.

 We
intend to implement this strategy through:

 Adding
 a new ORC system manufactured by Enertime for Waste Heat Recovery that will enable us to implement projects in the U.S. markets producing
 between 1 MW and 10 MW of electricity.

 Taking
 advantage of Inflation Reduction act of 2022 federal investment tax credits and state incentives that now include waste heat recover
 as a recognized clean energy source making our Clean Cycle Generator and ORC systems more profitable to install. On August 2022,
 Congress passed the Inflation Reduction act offering 30% Investment Tax Credit and technology neutral tax credits offering clean
 electricity production credit and investment credit. CETY's products directly benefit from these tax credits.

 Benefiting
 from higher energy costs which provide higher returns on our Waste Heat Recovery and Waste to Energy products and projects.

 Improving
 our balance sheet and capital position to permit us to invest in more products and projects.

 Establishing
 HTAP manufacturing facilities in Turkey for our Waste to Energy products and expanding patent protection on the proprietary technology.

 Leveraging
 our existing marketing channels to sell HTAP Waste to Energy products to industrial companies and government agencies.

 Working
 with clean energy project development and finance companies to establish Waste to Energy power plants producing electricity, RNG,
 hydrogen, methane and biochar from biomass, municipal waste, timber waste and other biomass and while retaining an equity interest
 in these facilities to provide re-occurring revenue.

 Participate
 in other minority investments in medium to large clean energy projects being developed in ASEAN countries that may be sourced by our majority
 stockholder in Hong Kong and other capital partners.

 Leveraging
 the LNG trading and investment relationships to create opportunities for us to sell our Waste Recovery and Waste to Energy products
 in China and to provide engineering, consulting and project management services.

and Segment Information

 We
design, produce and market clean energy products and integrated solutions focused on energy efficiency and renewable energy. Our aim
is to become a leading provider of renewable and energy efficiency products and solutions by helping commercial companies and municipalities
reduce energy waste and emissions, lower energy costs and generate incremental revenue by providing electricity, renewable natural gas
and biochar to the grid.

Information

 Our
four segments for accounting purposes are:

 Clean
Energy HRS & CETY Europe – Our Waste Heat Recovery Solutions, converting thermal energy to zero emission electricity.

 CETY
Renewables Waste to Energy Solutions – Providing Waste to Energy technologies and solutions.

 Engineering
and Manufacturing Business – providing customers with comprehensive design, manufacturing, and project management solutions.

 CETY
HK – The parent company of our NG trading operations in China. Prior to the first quarter of 2022 the Company had three reportable
segments but added the CETY HK segment to reflect its recent new businesses in China.

 Our
Clean Energy Solutions Business

 Waste
Heat Recovery Solutions

 We
provide our customers with power plants that capture wasted heat energy and produce electricity using a unique Organic Rankine Cycle
(ORC) system containing our Clean Cycle TM generator. Our magnetic bearing Integrated Power Modules is
at the heart of our Clean Cycle TM generator
which can fit into a standard cargo container we call our Containerized System Module, producing 140KW per Clean Cycle generator and
can be linked together for projects generating up to 1MW of power.

 Our
recent agreement with Enertime now permits us to install midsized and large ORC systems (between 1 MW and 10 MW) in the United States,
allowing us to offer a full range of ORC systems to our customers. We believe this new capacity will enable us to expand our product
offerings into larger scale waste recovery products in the United States. Enertime is a leader in producing ORC systems in Europe.

 ORC
waste heat recycling systems use pressurized working fluids that have a lower boiling point than water which make them ideal to repurpose
waste heat into electricity. While most manufacturing processes do not produce enough heat to turn water into steam, there is enough
heat to generate pressurized refrigerant in our ORC systems which is used to turn a turbine at high speeds to generate electricity.

 We
can link up to 10 Clean Cycle Generators together which can generate up to 10 GWh of electricity per year from waste heat which we estimate
would reduce up to 5000 metric tons of CO2 production per year in an industrial heat recovery system or the annual equivalent of the
CO2 emissions of approximately 2000 cars per year.

 We
believe the most important component in any ORC system is the turbine generator because it converts the steam heat into electricity and
accounts for approximately 60% of the cost of the system. The more efficiently the turbine generator works, the better the ORC power
plant operates. The remaining components consisting of the low boiling point fluid, condensers, which cool the fluids, the feed pumps,
which pressurize the fluids to reduce boiling points and the heat exchangers, which extract the heat from the heat sources. These are
more commoditized products and tend to perform at similar levels of efficiencies at similar price points.

 We
believe our Clean Cycle TM generator
is the most efficient turbine generator in it's class and size available in the market for ORC systems generating up to 1 MW. We
estimate that the Clean Cycle TM generator
has higher efficiency of approximately 15% than our competitors and its magnetic design eliminates the use of oils and lubricants, significantly
reducing down time, repairs and operating costs. Our Integrated Power Module is compact and fit into a standard cargo container that
can be delivered on a turnkey basis resulting in lower installation and implementation costs than on-site assembly.

 We
believe these features and benefits give us an important competitive advantage when building heat recovery power plants for our customers
and provide us with the opportunity to compete with and obtain market share from the dominant industrial waste heat to power systems.

 Over
121 Clean Cycle TM generators
have been deployed to date with 88 units used in biomass and waste to energy projects, 4 with diesel electric generators, 3 with turbine
electric generators and 26 in industrial electric production applications. We expect to raise additional funds to expand our capacity
to install 6-8 units per year which should approximately double our sales on a year-to-year basis.

 The
patented technology used in Clean Cycle TM generator was purchased from General Electric International,
together with over 100 installation sites, making us one of the leading provider of small-scale industrial waste heat to power systems.
We have an exclusive license from Calnetix to use their magnetic turbine for heat waste recovery applications.

 Our
 Integrated Power Module

 Our
 Clean Cycle TM Generator

 A
complete ORC System with Integrated Power Module housed in a Containerized System Module (CSM)

 Waste
to Energy Solutions

 We
are adding a new business line in our clean energy solutions segment consisting of Waste to Energy processing equipment, engineering
services and Waste to Energy processing power plant joint ventures where we expect to retain an ownership interest in the project.

 Waste-to-Energy
technologies that process non-renewable waste can reduce environmental and health damages while generating sustainable energy. Waste-to-Energy
technologies consist of waste treatment process that creates energy in the form of electricity, heat or fuels from a waste source. These
technologies can be applied to several types of waste: from the biomass (e.g. woodchips) to semi-solid (e.g. thickened sludge from effluent
treatment plants) to liquid (e.g. domestic sewage) and gaseous (e.g. refinery gases) waste.

 Waste
to Energy Solutions can be used:

 In
 any town, city or province with established waste management and collection.

 Where
 there is a consistent supply of solid waste.

 Places
 where treatment costs increase with shortages of space to store waste.

 In
 areas with high energy prices to allow for cost of recovery from waste.

 Waste
to Energy Solutions have many benefits:

 Electricity
 from Waste to Energy plants can be generated from small amounts up to 30 MW providing for a wide range of opportunities to sell it
 back to the grid.

 The
 synthetic renewable fuel gas produced from waste can be used for various production recyclable energy such as hot water, thermo-oil
 or steam, renewable natural gas or hydrogen.

 Landfill
 waste is reduced and so is leachate and methane released from decomposing landfills.

 Waste
 is a reliable source of energy and production is typically predictable and low cost whereas fossil fuel prices can fluctuate dramatically.

 But
Traditional Incineration Methods Have Significant Downsides:

 Air
 pollution can increase because scrubbing technologies are very expensive to install.

 Many
 industrial, agricultural, and mixed municipal solid wastes have high moisture content at source and direct incineration of such waste
 requires burning fossil fuel.

 to
 maintain thermal conversion process.

 Carbon
 is released into the air which would otherwise be stored in landfill.

 Ash
 and flue gas cleaning residues from incineration can also cause poisonous leachate problems if not properly disposed of which is
 costly and causes downstream environmental issues.

 Generating
 electricity from incineration releases more CO2, SO2, NOx and mercury than natural gas.

 (Source:

 The
most common form of waste to energy systems are based on incinerators which simply burn waste using air. The Thermal Treatment on Grate
is the most widespread technology being used by large waste landfills to generate electricity and heat. These systems produce substantial
amounts of ash, heavy metals and carbon dioxide which need to be treated and disposed of to minimize its impact on the environment. They
also require substantial amounts of pre-treatments prior to burning.

 The
Thermal on Grate incineration process, while wide-spread, is too expensive and complex for smaller and mid-sized waste to energy projects
creating, what we believe, a significant market opportunity in small and mid-sized waste processing applications to create not only electricity
but valuable renewable natural gas, bio diesel oil, hydrogen, methane, and biochar.

 Our
solution is a patented High Temperature Ablative Pyrolysis (HTAP) Biomass Reactor as viable commercial solution to the costs and environmental
problems posed by traditional incarnation methods. We have the exclusive license and right to sell the HTAP10 and HTAP5 and related products
manufactured by Enex which has a proven installed commercial base of customers using its waste to energy solutions. We believe this is
an ideal solution to process waste for small to mid-sized waste to energy generation applications needed for processing industrial and
municipality solid waste, agriculture waste, and forestry waste.

 Pyrolysis
systems decompose waste without the use of oxygen under varying pressurized conditions and at temperatures ranging from 300 degrees Celsius
and 1,300 degrees Celsius. The major advantage of pyrolysis is that it is a cost-effective technology and helps curb environmental pollution.
Pyrolysis systems are gradually replacing traditional incineration and gaining momentum in the waste to energy processing market addresses
many of the pre-treatment issues and, when using high temperature and high-pressure, substantially reduce or eliminates pollutant. (Source:
"Life Cycle Assessment of Waste-to-Bioenergy Processes: a Review" Pooja Ghosh,... Arunaditya Sahay, in Bioreactors, 2020)

 Pyrolysis
systems can produce hydrogen, renewable natural gas, bio-diesel oil, charcoal, and biochar which are used to power hydrogen, diesel,
and natural gas engines or electrical turbines which can be sold and often are eligible for substantial tax and pricing benefits. When
compared with the conventional incineration plant that runs in the capacity of kilotons per day, the scale of the pyrolysis plant is
more flexible, and the output of pyrolysis can be integrated with other downstream technologies for product upgrading. (Source: Influential
Aspects in Waste Management Practices Karthik Rajendran PhD,. Jerry D. Murphy PhD, in Sustainable Resource Recovery and Zero Waste Approaches,
2019) In addition, BioChar stores and reduces atmospheric CO2 and can be used as a soil conditioner, an organic component of animal feeds,
construction materials, wastewater treatment and in textiles. (Source:

 The
ablative pyrolysis system is a waste to energy process that largely eliminates pre-treatment and the harmful pollutants and storage waste
produced when using standard incineration and other pyrolysis technologies. It uses high pressure to generate fast pyrolysis and is designed
so that the heat transferred from a hot reactor wall softens the feedstock under pressure and permits larger feedstock particles to be
processed without pre-treatment. These systems create high relative motion between the reactor wall and the feedstock. The process avoids
the need of inert gas and hence the processing equipment is small and the reaction system is more intense. (Source:
)

 CETY
has licensed proprietary patented ablative pyrolysis system for commercial use that has been installed in 7 sites for use in waste to
energy creating applications processing including peat, coal, flax waste, sawdust and wood scrap, straw, buckwheat husks, and cardboard,
tapes, films and paper machine sludge. The technology has been implemented over 1,500 onsite power generation projects in Russia working
with major energy production companies such as Gazprom, Rosneft, Lukoil and Rostelecom as well as completing several projects for customers
in the European Union, Middle East and United States. Due to the conflict in the Ukraine, ENEX is redomiciling and relocating key personnel
to Turkey where it will complete an existing project and is expected to wind down its operations. CETY will develop additional ablative
technology and expects to manufacture units in the United States. Sales and European distribution will be run out of a CETY office that
has been established in Turkey.

 CETY
has global rights (except Russia and CIS countries) to design, build, manufacture, sell and operate renewable energy and waste recovery
facilities HTAP10 and HTAP5 systems and other products and technologies we expect to develop in the future.

 The
patented HTAP technology utilizes a higher temperature that uses a cleaner gas for the heating process and a more efficient biogas turbine.
The units can be customized to produce hydrogen, natural gas, diesel oil and bio char in varying quantities which can be sold or used
to produce electricity. We believe that the key benefits of the HTAP Biomass Reactor are:

 Flexibility
 in waste sourcing and mixing.

 Customized
 outputs of hydrogen, synthetic fuels, natural gas, methane, biochar, carbon black, or construction materials.

 Better
 waste sourcing and mixing flexibility,

 Near-zero
 emissions,

 Modular
 design,

 Zero
 liquid discharge,

 Zero
 solid waste residue waste.

 Modular,
 containerize design reducing implementation costs

 Proven
 commercial implementation.

 We
are targeting industrial and municipality solid waste, landfill waste, agriculture waste (straw, stems, plant biomass, manure, crop wastage),
and forestry waste from tree cuttings and shredded products.

 We
are in the process of identifying projects domestically and internationally for the HTAP Biomass Reactor. We believe the first project
where we expect to implement the HTAP10 technology with Vermont Renewable Gas to develop a biomass renewable energy processing facility.
The project is planned for a location in Lyndon, Vermont to convert forest and agriculture biomass waste products to renewably generated
electricity and BioChar fertilizer. We expect to annually deliver up to 18,000 MWh of renewable electricity and 1,500 tons of BioChar.
The Vermont Renewable Gas project is one of the many renewable energy processing facilities we plan to commission.

 ENEX
HTAP 10 Waste to Energy Processing Plant.

 We
established a wholly owned subsidiary called CETY Capital that we expect will help us finance our customers renewable energy projects
producing low carbon energy. CETY Capital, when implemented, should add flexibility to the capacity CETY offers its customers and fund
projects utilizing its products and clean energy solutions. The in-house financing arm is expected to support our sales and build new
renewable energy facilities. To date we have conducted no material operations in this subsidiary.

 Our
Clean Energy Initiatives in China

 Natural
gas is China's fastest-growing primary fuel with demand quadrupling in the past decade. Developing the natural gas sector is a
critical aspect China's effort to reduce reliance on coal. According to the International Energy Agency, China is the
world's sixth-largest natural gas producer, the third-largest consumer, and the second-largest importer. In 2050, the U.S.
Energy Information Administration (EIA) expects China to consume nearly three times as much natural gas as it did in 2018, which was
280.30 b/cm. China's natural gas consumption accounted for 8.3% of its total energy mix in 2019. China anticipates boosting
the share of natural gas as part of total energy consumption to 14% by 2030. Before COVID 19, China was expected to account for a
third of global demand growth through 2022, thanks in part to the country's "Blue Skies" policy and the strong
drive to improve air quality. China's relatively strong economic recovery from the COVID 19 crisis will probably increase that
share. Natural gas is imported either through pipelines or as liquefied natural gas (LNG) on ships. According to Reuters, in 2019,
the largest sources for Chinese LNG imports were Australia, Qatar, Malaysia, and Indonesia. ( Source: U.S. Department of Commerce,
International TradeAdministration.
energy#:~:text=China%20anticipates%20boosting%20the%20share,drive%20to%20improve%20air%20quality.)

 Liquid
Natural Gas in the Chinese energy market produces half as much carbon dioxide, less than a third as much nitrogen oxides, and 1 percent
as much sulfur oxides at the power plant compared to the average air emissions from coal-fired generation. In addition to reduced air
emissions, natural gas has other environmental benefits that make it a smart fuel choice. Natural gas-fired power plants use about 60
percent less water than coal plants and 75 percent less water than nuclear power plants for the same electricity output. (Source: Conoco
Phillips)

 In
2021, we acquired through our subsidiary, CETY Hong Kong, a liquefied natural gas trading operation called Jiangsu Huanya Jieneng ("JHJ")
which sources LNG from large LNG producers and distributors and sells it to non-state-owned industries and downstream customers in mainland
China.

 CETY
also plans to sell its waste heat recovery and waste to energy products in China as well as provide consulting services relating to the
same to projects in China.

 The
JHJ team has more than 10 years of experience in the natural gas and clean energy industry and has maintained relationships and partners
with many natural gas enterprises in China.

 CETY
HK

 LNG
Trading Operations

 JHJ's
principal service is to source and supply LNG to industries and municipalities located in the southern part of Sichuan Province and portions
of Yunnan Province. The LNG is principally used for heavy truck refueling stations and urban or industrial users in areas that do not
have a connection to local LNG pipeline systems. We purchase large quantities of LNG from large wholesale LNG depots at fixed prices
which are prepaid for in advance at a discount to market. We sell the LNG to our customers at prevailing daily spot prices for the duration
of the contracts.

 Either
our sources or customers arrange for delivery of the LNG. Our profitability depends on our ability to purchase LNG at volume discounts
at the beginning of a season and sell it at a delivered price that is higher than the price we pay.

 JHJ
traders are experienced LNG traders, familiar with the spot and future markets and have relationships with the major users of LNG in
the areas that we serve. Our customers may be local or may be as far as 700km from each depot.

 We
compete with other LNG trading based on availability and price. We target our discount with our sources to partially hedge against falling
spot prices and give us a gross profit targeted at substantially higher rate than our competitors which are approximately 20-30 percent
margins compared against what we believe are 1-5 percent margins by our competitors. So long as there are no major fluctuations in the
spot market, we can offer more competitive prices due to the discounts we receive from the large volumes purchased and the prepayments
for the LNG. JHJ has currently established a supply of approximately 8,000 tons of LNG for distribution.

 We
are able to purchase LNG at a significant discount from our suppliers because our prepayments offer suppliers more certainty with respect
to the sales of their inventory, address their cash flow issues, and allow them to better plan for production. We believe our downstream
customers get better prices from us because of our bulk buying power, ease of inventory management and cash flow.

 Both
our suppliers and customers can reduce costs by using JHJ as a centralized procurement center and establishing professional logistics
distribution based on stable supply and downstream demand.

 equity
interests subject to dilution by additional equity investment into HHNG by third parties. We do not expect the project to require additional
investment from us, JHJ or HHNG. The project is currently planning and constructing additional pipelines in the Heze area and is expected
to generate cash flow by the first quarter of 2023. We do not expect to make further direct minority investments in other pipeline operators
as we expect these acquisitions to take place through our joint venture with Shenzhen Gas.

 Engineering,
Consulting and Project Management Services

 Engineering.
 Our global engineering team supports the design, build, installation, and maintenance of our Clean Cycle TM
 generators, supports our technology customers
and innovative start-ups with a broad range of electrical, mechanical and software engineering services. CETY has assembled a team of
experts from around the globe to assist customers at any point in the design cycle. These services include design processes from electrical,
software, mechanical and Industrial design. Utilization of CETY's design services will provide our customers with a complete end
to end solution.

 Supply
Chain Management. CETY's supply chain solution provides maximum flexibility and responsiveness through a collaborative
and strategic approach with our customers. CETY can assume supply chain responsibility from component sourcing through delivery of finished
product. CETY's focus on the supply chain allows us to build internal and external systems and better our relationships with our
customers, which allows us to capitalize on our expertise to align with our partners and customer's objectives and integrate with
their respective processes.

 The
Market for Our Products.

 Waste
to Energy.

 There
are more than 2500 waste-to-energy plants in the world, including almost 500 in Europe. (Source:
The waste-to-energy (WTE) market is expected to register a CAGR of 7.35% during the forecast period of 2021 – 2026, reaching a
market size of USD 69.94 billion by 2026, up from USD 43.66 billion in 2019. The COVID-19 pandemic affected the market negatively in
the form of supply chain disruptions and delays in project implementation. However, the market is expected to recover from 2021, owing
to the increasing efforts to promote waste-to-energy plants by various countries across the world. In addition to this, an increasing
amount of waste generation and growing concern for waste management to meet the need for sustainable urban living and increasing focus
on non-fossil fuel sources of energy are driving the demand for the waste-to-energy market. Thermal technology is expected to dominate
the waste-to-energy market in the coming years, owing to the increasing development in incineration and gasification technologies, as
well as the increasing amount of waste generated, especially from the emerging economies of Asia-Pacific. Asia-Pacific has witnessed
significant development in the waste-to-energy industry in the past few years. It has dominated the market across the world with increasing
efforts taken by the government in adopting better MSW management practices, providing incentives for waste-to-energy projects in the
form of capital subsidies and feed-in tariffs, and providing financial support for R&D projects on a cost-sharing basis. Due to economic
development and rapid urbanization in China, the generation of municipal solid waste (MSW) has been increasing rapidly. Therefore, the
effective disposal of municipal solid waste has become a serious environmental challenge in China. (Source:

 Increasing
government regulations regarding the waste to energy in various countries is one of the major factors driving the growth of global waste
to energy market. For instance, according to Federal Power Act 2019, this act gives federal authority over electric utilities in U.S.
Also the acts like Public Utility Regulatory Policy Act (PURPA) and Energy Policy Act are applied by the government to increase the waste
to energy and decrease the CO 2 emission by fossil fuels. In addition, escalating investments in R&D by different countries
is also fostering the growth of global waste to energy market. (Source

 Alternative
thermal technologies like pyrolysis, gasification and plasma arc gasification are expected to lower carbon emissions and witness the
growth in demand. Moreover, a shift in trend towards replacing conventional energy generating from fossil fuels with renewable
energy to ensure energy security and reduce carbon emissions are potential factors to drive industry growth. The global waste to
energy market size was valued at $35.1 billion in 2019, and is projected to reach $50.1 billion by 2027, growing at a CAGR of 4.6%
from 2020 to 2027.

 Waste
Heat Recovery

 A
study by Market Research Future in October of 2021 forecasted the waste heat recover market would be worth USD 114 billion by 2028 registering
a CAGR of 9.2 per year from a baseline of USD 59.44 billion in 2020. The primary economic driver in the waste heat recovery market are
"rising energy use, economic development, and rising electricity prices. The use of energy in many sectors to manufacture products
is steadily growing. The need for energy has increased in industrialized regions as industrialization has occurred. Companies are developing
numerous strategies to transform waste heat into energy as the demand for energy grows. As a result, it is fueling the growth of the
Waste Heat Recovery market. The government has taken various initiatives and enacted rules to save energy, which has promoted the usage
of Waste Heat Recovery technologies. Due to environmental concerns, the government is taking steps to save energy; as a result, the Waste
Heat Recovery sector is booming. Energy-efficient technology has become critical for industries looking to save money." (Source:

 In
2020 North America constituted the largest share of the market accounting for approximately 33% of the global total but countries in
Asia and the Asia Pacific constitute the fasting growing geographic sectors due to rapid industrial expansion.

 Waste
heat recovery systems in the United States now qualify for beneficial investment tax credits of up to 26% on the investment driving additional
companies to install ORC industrial waste heat to power units. Owners of waste energy recovery property can claim a 26% ITC if construction
of such property begins during 2021 or 2022, and a 22% ITC if construction begins during 2023, provided in each case that the property
is placed in service by the end of 2025. (Source:
credits#:~:text=Owners%20of%20waste%20energy%20recovery,by%20the%20end%20of%202025) We also believe the increasing prices for oil
and natural gas as a factor that encourages the use of our waste heat recovery systems.

 A
Renewable Portfolio Standard (RPS) is a state incentive program that requires a certain percentage of electricity sold by utilities in
the state to come from renewable resources. It diversifies the energy portfolio of the state while encouraging economic development.
By establishing an RPS a state creates a market for Renewable Energy Credits (RECs). Each utility must obtain and retire a certain number
of RECs annually. Several states including Colorado, Wisconsin, Illinois and California among others have now list waste heat to power
as an eligible resource in their RPS program.

 LNG
Trading and Joint Venture

 Since
2012, the National Development and Reform Commission has stressed that "natural gas vehicles, including urban buses, taxis, logistics
distribution vehicles, trucks and other natural gas-fueled transportation vehicles" are the most important users of natural gas
and require a consistent supply chain. As a result, regions and provinces in the PRC have accelerated the construction of a network of
LNG refueling stations and encouraged the expansion of fleets of delivery vehicles. Due to China's "carbon peak, carbon neutral"
goal commitment, China's environmental protection policies are gradually being tightened resulting in increased utilization rates
of natural gas as a clean energy alternative is getting higher and higher. (Source China 13 th Renewable Energy Development
Five Year Plan

 By
2027, analysts forecast spot trade in LNG will be $20 billion, more than double its 2020 value. Last year, China's imports soared
by 18% to a record 79 million tons, overtaking Japan as the world's largest LNG buyer. China's economic recovery from the
COVID-19 pandemic was one factor, but the other was a pipeline reform that allowed more firms to become importers. (Source: Reuters U.S.
supplies give China muscle to become major force in global LNG trade

 Aligning
with many policy goals, natural gas will remain a growth engine for energy supply in the 14th FYP period. The policy direction on air
pollution reduction, carbon emission control, and gas supply and midstream infrastructure development indicates continued support for
higher penetration of gas in the growing energy mix. On the other hand, the focus on supply security and cost reduction from market reforms
indicate an expectation of decelerating gas demand growth in the 14th FYP period compared with that in the previous five years. In the
current IHS Markit outlook, China's gas demand will grow 6% compound annual average during 2021-25—compared with the 11%
growth in the previous five year—to reach 429 Bcm in 2025. (Source S& P Global. China's Five Yar Plan's Review
and Expectation: Batural Gas Tick the Box for Many Policy Goals.

 We
believe that Southwest China is rich in natural gas resources providing us with a stable source of supply and is an important major natural
gas producing area in the country. We estimate that there are 16 LNG production plants with a capacity of more than 300,000 cubic meters
per day in Southwest China, with a total design capacity of 11.7 million cubic meters per day. We believe the supply is mainly to satisfy
LNG refueling stations and LNG vehicles which are among our primary downstream customers.

 We
estimate that by the end of 2022, a total of about 240 LNG refueling stations were operating in South Western China, including about
170 in Sichuan, about 30 in Yunnan, and about 40 in Guizhou; the daily consumption of LNG refueling stations that have been put into
operation in Yunguichuan is about 7,200 tons per day, which is basically the same as the upstream output, reaching a "balance of
production and sales".

 In
order to help achieve the goal of "carbon peaking and carbon neutrality", accelerate the clean and low-carbon transformation
of transportation energy, the Sichuan Provincial Development and Reform Commission and Sichuan Provincial Energy Administration issued
the "Sichuan Province Natural Gas Vehicle Refueling Station Layout Plan (2021-2025)", which proposed that by 2025, Sichuan
will build 500 new refueling stations (including 141 stations in the expressway service area), including 15 CNG refueling stations,
401 LNG refueling stations, 8 L-CNG refueling stations, and 76 CNG/LNG joint refueling stations.

 Based
on the development plan for LNG refueling stations in the southwest region we believe that the downstream demand for LNG by our customers
will maintain a steady growth rate over the next five years.

 Sales
and Marketing

 We
utilize both a direct sales force and global distribution group with expertise in heat recovery solutions and clean energy markets.

 CETY
maintains an online presence through our web portal and social media. We also have established cross-sale agreements with synergistic
technology providers promoting our solutions to our respective customers. We utilize email campaigns to keep the marketplace abreast
of the recent developments with our solutions. We work with the municipalities to identify incentive programs that could utilize our
solutions.

 Our
application engineers assist in converting the opportunities into projects. We provide technical support to our Clean Cycle TM
 generator clients and recently introduced waste
to energy plants through providing maintenance and product support.

 Our
market focus is segmented by the engine heat recovery, waste to energy plants, engineering & procurement, and renewable energy trade,
Wastewater treatment plants and boiler applications with excess heat.

 Our
experienced team of LNG traders identify producers and customers for the LNG trading business as well as originate acquisition opportunities
for our Shenzhen Gas joint venture.

 Suppliers

 Our
heat recovery solutions systems are manufactured primarily from components available from multiple suppliers and to a lesser extend from
custom fabricated components available from various sources. We purchase our components from suppliers based on price and availability.
Our significant suppliers in the Waste Heat Recovery business include Powerhouse, Concise Instrument, and Grainger.

 Our
waste to energy components are sourced globally including the US with the exception of the core components originally sourced in Russia
and being transitioned to Turkey and US. We are in the process of establishing an inhouse center of competence and technology development
based out of Turkey to source these components in Europe and US with the ability to deploy the product globally. Although future impacts
cannot be predicted the company does not foresee any negative impact from the Russia and Ukraine conflict.

 The
natural gas in China is obtained from various local production plants in Southeast China based on price and quality. Deliveries
of the NG are made through third party trucking companies. We purchase large quantities of NG from large wholesale NG depots at fixed
prices which are discounted and prepaid for in advance at a discount to market.

 Competition

 ORMAT,
Exergy, TAS and Turboden are the leaders in ORC system power plants with more than 75% of installed capacity and plants, Exergy and TAS
are following with around 13% and 6% of the market respectively while Turboden has recently penetrated the geothermal market with about
2% of the installed capacity.

 The
Waste to Energy Market is dominated by Hitachi Zosen Inova AG, Suez, Veolia, Ramboll Group A/S, Covanta Holding Corporation, China Everbright
International Ltd., Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises lnc., Whaleboater Technologies lnc., Xcel
Energy lnc. (Source:

 We
also compete with numerous companies that are smaller than the major companies who are focused on the smaller to medium sized installations
in Waste Heat Recovery and Waste to Energy. We believe our waste to energy products are more efficient for use in small and medium sized
operations than our competitors and provide us with a competitive advantage on that basis.

 In
China, our NG trading operations compete with large state-owned LNG producers and importers such as Sinopec and many smaller local energy
trading companies in the PRC. We compete based on price and consistency of services.

 Company
Information

 We
were incorporated in California in July 1995 under the name Probe Manufacturing Industries, Inc. We redomiciled to Nevada in April 2005
under the name Probe Manufacturing, Inc. We manufactured electronics and provided services to original equipment manufacturers (OEMs)
of industrial, automotive, semiconductor, medical, communication, military, and high technology products. On September 11, 2015 Clean
Energy HRS, or "CE HRS", our wholly owned subsidiary acquired the assets of Heat Recovery Solutions from General Electric
International. In November 2015, we changed our name to Clean Energy Technologies, Inc.

 Our
principal executive offices are located at 1340 Reynolds Avenue Unit 120, Irvine, California 92614. Our telephone number is (949) 273-4990.
Our common stock is listed on the OTCQB Markets under the symbol "CETY."

 Our
internet website address is www.cetyinc.com and our subsidiary's web site is www.heatrecoverysolutions.com The information
contained on our websites are not incorporated by reference into this document, and you should not consider any information contained
on, or that can be accessed through, our website as part of this document.

 The
Company has four reportable segments: Clean Energy HRS (HRS), CETY Europe, and the legacy electronic manufacturing services (Electronic
Assembly) division and CETY Hong Kong

 Patents

 We
currently hold 16 patents in 6 countries and 28 pending applications in 8 countries, which were acquired from General Electric International
relating to our magnetic turbine technology.

 Intellectual
Property

 As
part of our asset acquisition from General Electric International we acquired an exclusive, irrevocable, sublicensable, limited transferable,
royalty free, fully paid, worldwide perpetual license to develop, improve and commercialize Calnetix's magnetic turbine in any
Organic Rankine Cycle based application where heat is sourced from a reciprocating combustion engine of any type, except marine vessels,
any gas or steam turbine systems for electrical power generation applications or any type of biomass boiler system.

 We
have a intellectual property rights purchase and transfer agreement with ENEX for its pyrolysis system.

 Facilities

 We're
headquartered in Irvine, California. Our Heat Recovery Solutions business unit operates from a 7,000 sq-ft state of the art facility
in Irvine, California USA. We have in-house electro-mechanical assembly and testing capabilities. Our products are compliant with American
Society of Mechanical Engineers and are UL and CE approved. We also have a 5000 sq-ft sales and service center located in Treviso, Italy.
We also have a 2000 sq-ft R&D center in Antalya, Turky. Our Asian headquarters is located in Hong Kong and our 3000 sq-ft Engineering
consultancy and Natural Gas Trading company is located in Chengdu.

 Employees

 We
presently have approximately 20 employees, including operational, engineering, accounting and marketing personnel. We utilize extensive
number of consultants as well and have never experienced work stoppages and we are not a party to any collective bargaining agreement.
We have 7 employees in JSJ in China.

 Government
Regulation

 Our
operations are subject to certain foreign, federal, state and local regulatory requirements relating to environmental, waste management,
and health and safety matters. We believe we operate in substantial compliance with all applicable requirements. However, material costs
and liabilities may arise from these requirements or from new, modified or more stringent requirements. Material cost may rise due to
additional manufacturing cost of raw or made parts with the application of new regulations. Our liabilities may also increase due to
additional regulations imposed by foreign, federal, state and local regulatory requirements relating to environmental, waste management,
and health and safety matters. In addition, our past, current and future operations and those of businesses we acquire, may give rise
to claims of exposure by employees or the public or to other claims or liabilities relating to environmental, waste management or health
and safety concerns.

 Our
markets can be positively or negatively impacted by the effects of governmental and regulatory matters. We are affected not only by energy
policy, laws, regulations and incentives of governments in the markets into which we sell, but also by rules, regulations and costs imposed
by utilities. Utility companies or governmental entities could place barriers on the installation of our product or the interconnection
of the product with the electric grid. Further, utility companies may charge additional fees to customers who install on-site power generation,
thereby reducing the electricity they take from the utility, or for having the capacity to use power from the grid for back-up or standby
purposes. These types of restrictions, fees or charges could hamper the ability to install or effectively use our products or increase
the cost to our potential customers for using our systems in the future. This could make our systems less desirable, thereby adversely
affecting our revenue and profitability potential. In addition, utility rate reductions can make our products less competitive which
would have a material adverse effect on our future operations. These costs, incentives and rules are not always the same as those faced
by technologies with which we compete. However, rules, regulations, laws and incentives could also provide an advantage to our Heat Recovery
Solutions as compared with competing technologies if we are able to achieve required compliance at a lower cost when our Clean Cycle
 TM generators
are commercialized. Additionally, reduced emissions and higher fuel efficiency could help our future customers combat the effects of
global warming. Accordingly, we may benefit from increased government regulations that impose tighter emission and fuel efficiency standards.

 Due
to our operations in China, we are subject to additional regulations that apply to companies doing business in mainland China. See " Disclosures
Relating to Our Chinese Operations " for more information.

 Research
and Development

 We
had no expenses in Research and Development costs during the years ended December 31, 2023 and 2022.

 WHERE
YOU CAN GET ADDITIONAL INFORMATION

 We
file annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy our reports or
other filings made with the SEC at the SEC's Public Reference Room, located at 100 F Street, N.E., Washington, DC 20549. You can
obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. You can also access these reports
and other filings electronically on the SEC's web site, www.sec.gov.

 Item
1a. Risk Factors.

 We
are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information
under this item. We reserve the right not to provide risk factors in our future filings. Our primary risk factors and other considerations
include:

 RISKS
RELATD TO OUR BUSINESS

 OUR
INDEPENDENT ACCOUNTANTS HAVE ISSUED A GOING CONCERN OPINION AND IF WE CANNOT OBTAIN ADDITIONAL FINANCING AND/OR REDUCE OUR OPERATING
COSTS SUFFICIENTLY, WE MAY HAVE TO CURTAIL OPERATIONS AND MAY ULTIMATELY CEASE TO EXIST.

 The
financial statements have been prepared on a going concern basis, which contemplates continuity of operations, realization of assets
and liquidation of liabilities in the normal course of business. The Company had a total stockholder's equity of $5,869,198 and
a working capital of $1,949,206 and an accumulated deficit of $22,984,163 as of December 31, 2023 and used $4,783,077 in net cash
from operating activities for the year ended December 31, 2023. CETY has a clear strategy in place and has the capability to successfully
restructure its existing debt and secure additional financing. With its current strategic approach and diversification of its products
and solutions, the management has created a favorable environment for the company to transition towards profitability.

 For
the fiscal year closing on December 31, 2023, our company reported a net loss amounting to $5,659,723, to the net profit of $147,395
we achieved during the equivalent period in 2022. This downturn in profitability for 2023 can largely be attributed to several key factors:
our strategic expansion which included the integration of two new business ventures, a rise in employee compensation and general overhead
costs, diminished profit margins within our NG operations, significantly increased overhead expenses following our listing on NASDAQ,
and a notable uptick in interest expenses and fees related to convertible debts and bridge loans, marking a higher interest expenditure
compared to the previous year.

 Following
the close of the 2022 fiscal year, the company's equity for the fiscal year ending in 2023 saw a significant increase, rising from
1,878,196 to 5,869,198. This remarkable growth is primarily attributed to the success of the company's public offering, which generated
gross proceeds of $3.9 million, and conversion of some of its convertible notes into Series E preferred shares. Looking ahead, the company
is poised for further growth with the anticipated launch of its biomass project in Vermont in 2024, which is expected to contribute to
both profitability and growth. Additionally, the company's ability to secure funding has been greatly enhanced following its listing
on the Nasdaq on March 23, 2023. With a focus on optimizing operations and expanding global sales, management is confident in the company's
ability to sustain long-term profitability and maintain a strong capital position.

 WE
HAVE AN ACCUMULATED DEFICIT AND MAY INCUR ADDITIONAL LOSSES; THEREFORE, WE MAY NOT BE ABLE TO OBTAIN THE ADDITIONAL FINANCING NEEDED
FOR WORKING CAPITAL, CAPITAL EXPENDITURES AND TO MEET OUR DEBT SERVICE OBLIGATIONS.

 As
of December 31, 2023, we had current liabilities of $4,801,523 and total current asset of 6,750,728.

 Our
debt could limit our ability to obtain additional financing for working capital, capital expenditures, debt service requirements, or
other purposes in the future, as needed; to plan for, or react to, changes in technology and in our business and competition; and to
react in the event of an economic downturn.

 We
may not be able to meet our debt service obligations. If we are unable to generate sufficient cash flow or obtain funds for required
payments, or if we fail to comply with covenants in our revolving lines of credit, we will be in default.

 OUR
BUSINESS, RESULTS OF OPERATIONS AND FINANCIAL CONDITION MAY BE ADVERSELY AFFECTED BY PUBLIC HEALTH EPIDEMICS, INCLUDING THE CORONAVIRUS
OR COVID-19.

 Our
business, results of operations and financial condition may be adversely affected if a public health epidemic such as coronavirus or
COVID-19 interferes with the ability of us, our employees, workers, contractors, suppliers, customers and other business partners to
perform our and their respective responsibilities and obligations relative to the conduct of our business. We maintain offices in HaiXi
with employees and workers upon whom we rely to, among other things, identify sources of supply in China, conduct factory inspections,
place orders for merchandise, perform factory monitoring with respect to production, quality control and other requirements, and arrange
shipping. A public health epidemic, including the coronavirus, poses the risk that we or our employees, workers, contractors, suppliers,
customers and other business partners may be prevented from conducting business activities for an indefinite period of time, including
due to shutdowns that may be requested or mandated by governmental authorities. We face similar risks if a public health epidemic, including
the coronavirus, affects other geographic areas where our employees, workers, contractors, suppliers, customers and other business partners
are located.

 IF
DEMAND FOR THE PRODUCTS AND SERVICES THAT THE COMPANY OFFERS SLOWS, OUR BUSINESS WOULD BE MATERIALLY AFFECTED.

 Demand
for products which it intends to sell depends on many factors, including:

 the
 economy, and in periods of rapidly declining economic conditions, customers may defer purchases or may choose alternate products;

 the
 cost of oil, gas and solar energy;

 the
 competitive environment in the heat to power sectors may force us to reduce prices below our desired pricing level or increase promotional
 spending;

 our
 ability to maintain efficient, timely and cost-effective production and delivery of the products and services; and,

 All
 of these factors could result in immediate and longer term declines in the demand for the products and services that we offer, which
 could adversely affect our sales, cash flows and overall financial condition.

 WE
OPERATE IN A HIGHLY COMPETITIVE MARKET. IF WE DO NOT COMPETE EFFECTIVELY, OUR PROSPECTS, OPERATING RESULTS, AND FINANCIAL CONDITION COULD
BE ADVERSELY AFFECTED.

 The
markets for our products and services are highly competitive, with companies offering a variety of competitive products and services.
We expect competition in our markets to intensify in the future as new and existing competitors introduce new or enhanced products and
services that are potentially more competitive than our products and services. We believe many of our competitors and potential competitors
have significant competitive advantages, including longer operating histories, ability to leverage their sales efforts and marketing
expenditures across a broader portfolio of products and services, larger and broader customer bases, more established relationships with
a larger number of suppliers, contract manufacturers, and channel partners, greater brand recognition, and greater financial, research
and development, marketing, distribution, and other resources than we do and the ability to offer financing for projects. Our competitors
and potential competitors may also be able to develop products or services that are equal or superior to ours, achieve greater market
acceptance of their products and services, and increase sales by utilizing different distribution channels than we do. Some of our competitors
may aggressively discount their products and services in order to gain market share, which could result in pricing pressures, reduced
profit margins, lost market share, or a failure to grow market share for us. If we are not able to compete effectively against our current
or potential competitors, our prospects, operating results, and financial condition could be adversely affected.

 WE
MAY LOSE OUT TO LARGER AND BETTER-ESTABLISHED COMPETITORS.

 The
alternative power industry is intensely competitive. Most of our competitors have significantly greater financial, technical, marketing
and distribution resources as well as greater experience in the industry than we have. Our products may not be competitive with other
technologies, both existing at the current time and in the future. If this happens, our sales and revenues will decline, or fail to develop
at all. In addition, our current and potential competitors may establish cooperative relationships with larger companies to gain access
to greater development or marketing resources. Competition may result in price reductions, reduced gross margins and loss of market share.

 OUR
INTERNATIONAL OPERATIONS SUBJECT US TO RISKS, WHICH COULD ADVERSELY AFFECT OUR OPERATING RESULTS.

 Our
international operations are exposed to the following risks, several of which are out of our control:

 political
and economic instability, international terrorism and anti-American sentiment, particularly in emerging markets;

 preference
 for locally branded products, and laws and business practices favoring local competition;

 unusual
 or burdensome foreign laws or regulations, and unexpected changes to those laws or regulations;

 |import
 and export license requirements, tariffs, taxes and other barriers;

 costs
 of customizing products for foreign countries;

 increased
 difficulty in managing inventory;

 less
 effective protection of intellectual property; and

 difficulties
 and costs of staffing and managing foreign operations.

 Any
or all of these factors could adversely affect our ability to execute any geographic expansion strategies or have a material adverse
effect on our business and results of operations.

 OUR
PRODUCTS MAY BE DISPLACED BY NEWER TECHNOLOGY.

 The
alternative power industry is undergoing rapid and significant technological change. Third parties may succeed in developing or marketing
technologies and products that are more effective than those developed or marketed by us, or that would make our technology obsolete
or non-competitive. Accordingly, our success will depend, in part, on our ability to respond quickly to technological changes. We may
not have the resources to do this.

 WE
MUST HIRE QUALIFIED ENGINEERING, DEVELOPMENT AND PROFESSIONAL SERVICES PERSONNEL.

 We
cannot be certain that we can attract or retain a sufficient number of highly qualified mechanical engineers, industrial technology and
manufacturing process developers and professional services personnel. To deploy our products quickly and efficiently, and effectively
maintain and enhance them, we will require an increasing number of technology developers. We expect customers that license our technology
will typically engage our professional engineering staff to assist with support, training, consulting and implementation. We believe
that growth in sales depends on our ability to provide our customers with these services and to attract and educate third-party consultants
to provide similar services. As a result, we plan to hire professional services personnel to meet these needs. New technical and professional
services personnel will require training and education and it will take time for them to reach full productivity. To meet our needs for
engineers and professional services personnel, we also may use costlier third-party contractors and consultants to supplement our own
staff. Competition for qualified personnel is intense, particularly because our technology is specialized and only a limited number of
individuals have acquired the needed skills. Additionally, we will rely on third-party implementation providers for these services. Our
business may be harmed if we are unable to establish and maintain relationships with third-party implementation providers.

 WE
MAY BE ADVERSELY AFFECTED BY SHORTAGES OF REQUIRED COMPONENTS. IN ADDITION, WE DEPEND ON A LIMITED NUMBER OF SUPPLIERS TO PROCURE OUR
PARTS FOR PRODUCTION WHICH IF AVAILABILITY OF PRODUCTS BECOMES COMPROMISED IT COULD ADD TO OUR COST OF GOODS SOLD AND AFFECT OUR REVENUE
GROWTH.

 At
various times, there have been shortages of some of the components that we use, as a result of strong demand for those components or
problems experienced by suppliers. These unanticipated component shortages have resulted in curtailed production or delays in production,
which prevented us from making scheduled shipments to customers in the past and may do so in the future. Our inability to make scheduled
shipments could cause us to experience a reduction in our sales and an increase in our costs and could adversely affect our relationship
with existing customers as well as prospective customers. Component shortages may also increase our cost of goods sold because we may
be required to pay higher prices for components in short supply and redesign or reconfigure products to accommodate substitute components.

 OUR
PRINCIPAL SHAREHOLDERS, DIRECTORS AND EXECUTIVE OFFICERS, IN THE AGGREGATE, BENEFICIALLY OWN MORE THAN 50% OF OUR OUTSTANDING COMMON
STOCK AND THESE SHAREHOLDERS, IF ACTING TOGETHER, WILL BE ABLE TO EXERT SUBSTANTIAL INFLUENCE OVER ALL MATTERS REQUIRING APPROVAL OF
OUR SHAREHOLDERS.

 Our
principal shareholders, directors and executive officers in the aggregate, beneficially own more than 50% our outstanding common stock
on a fully diluted basis. These shareholders, if acting together, will be able to exert substantial influence over all matters requiring
approval of our shareholders, including amendments to our Articles of Incorporation, fundamental corporate transactions such as mergers,
acquisitions, the sale of the company, and other matters involving the direction of our business and affairs and specifically the ability
to determine the members of our board of directors. (See "Security Ownership of Certain Beneficial Owners and Managements").

 IF
WE LOSE KEY SENIOR MANAGEMENT PERSONNEL OUR BUSINESS COULD BE NEGATIVELY AFFECTED. FURTHER, WE WILL NEED TO RECRUIT AND RETAIN ADDITIONAL
SKILLED MANAGEMENT PERSONNEL AND IF WE ARE NOT ABLE TO DO SO, OUR BUSINESS AND OUR ABILITY TO CONTINUE TO GROW COULD BE HARMED.

 Our
success depends to a large extent upon the continued services of our executive officers. We could be seriously harmed by the loss of
any of our executive officers. In order to manage our growth, we will need to recruit and retain additional skilled management personnel
and if we are not able to do so, our business and our ability to continue to grow could be harmed. Although a number of companies in
our industry have implemented workforce reductions, there remains substantial competition for highly skilled employees.

 WE
ARE SUBJECT TO ENVIRONMENTAL COMPLIANCE RISKS AND UNEXPECTED COSTS THAT WE MAY INCUR WITH RESPECT TO ENVIRONMENTAL MATTERS MAY RESULT
IN ADDITIONAL LOSS CONTINGENCIES, THE QUANTIFICATION OF WHICH CANNOT BE DETERMINED AT THIS TIME.

 We
are subject to various federal, state, local and foreign environmental laws and regulations, including those governing the use, storage,
discharge and disposal of hazardous substances in the ordinary course of our manufacturing process. If more stringent compliance or cleanup
standards under environmental laws or regulations are imposed, or the results of future testing and analyses at our current or former
operating facilities indicate that we are responsible for the release of hazardous substances, we may be subject to additional remediation
liability. Further, additional environmental matters may arise in the future at sites where no problem is currently known or at sites
that we may acquire in the future. Currently unexpected costs that we may incur with respect to environmental matters may result in additional
loss contingencies, the quantification of which cannot be determined at this time.

 OUR
SALES AND CONTRACT FULFILLMENT CYCLES CAN BE LONG, UNPREDICTABLE AND VARY SEASONALLY, WHICH CAN CAUSE SIGNIFICANT VARIATION IN REVENUES
AND PROFITABILITY IN A PARTICULAR QUARTER.

 The
timing of our sales and related customer contract fulfillment is difficult to predict. Many of our customers are large enterprises, whose
purchasing decisions, budget cycles and constraints and evaluation processes are unpredictable and out of our control. Further, the timing
of our sales is difficult to predict. The length of our sales cycle, from initial evaluation to payment for our products and services,
can range from several months to well over a year and can vary substantially from customer to customer. Our sales efforts involve significant
investment in resources in field sales, marketing and educating our customers about the use, technical capabilities and benefits of our
products and services. Customers often undertake a prolonged evaluation process. As a result, it is difficult to predict exactly when,
or even if, we will make a sale to a potential customer or if we can increase sales to our existing customers. Large individual sales
have, in some cases, occurred in quarters subsequent to those we anticipated, or have not occurred at all. In addition, the fulfillment
of our customer contracts is partially dependent on other factors related to our customers' businesses that are not in our control.
as with the sales cycle, this can also cause revenues and earnings to fluctuate from quarter to quarter. If our sales and/or contract
fulfillment cycles lengthen or our substantial upfront investments do not result in sufficient revenue to justify our investments, our
operating results could be adversely affected.

 We
have experienced seasonal and end-of-quarter concentration of our transactions and variations in the number and size of transactions
that close in a particular quarter, which impacts our ability to grow revenue over the long term and plan and manage cash flows and other
aspects of our business and cost structure. Our transactions vary by quarter, with the fourth quarter typically being our largest. If
expectations for our business turn out to be inaccurate, our revenue growth may be adversely affected over time and we may not be able
to adjust our cost structure on a timely basis and our cash flows may suffer.

 OUR
OPERATING MARGINS MAY DECLINE AS A RESULT OF INCREASING PRODUCT COSTS.

 Our
business is subject to significant pressure on pricing and costs caused by many factors, including competition, the cost of components
used in our products, labor costs, constrained sourcing capacity, inflationary pressure, pressure from customers to reduce the prices
we charge for our products and services, and changes in consumer demand. Costs for the raw materials used in the manufacture of our products
are affected by, among other things, energy prices, consumer demand, fluctuations in commodity prices and currency, and other factors
that are generally unpredictable and beyond our control. Increases in the cost of raw materials used to manufacture our products or in
the cost of labor and other costs of doing business in the United States and internationally could have an adverse effect on, among other
things, the cost of our products, gross margins, operating results, financial condition, and cash flows.

 OUR
SALES AND PROFITABLITY OF OPERATIONS IN THE UNITED STATES AND IN THE PRC ARE DEPENDANT ON THE PRICE OF OIL AND NATURAL GAS.

 Our
Waste Heat Recovery products and Waste Recovery products are dependent on the prices of traditional energy sources. Our products reuse
wasted heat and create electricity or reusable fuel. As the price of energy increases, the economic justification for our products increases.
At the same time, as the price for traditional fuel decreases, there is less incentive for customers to purchase our products and it
may impair our ability to sell our products.

 IF
THE SPOT PRICE OF NG IN CHINA DROPS BELIOW THE PURCHASE PRICE OUR TRADERS NETOTIATE WITH OUR SUPPLIERS, WE MAY NOT BE ABLE TO SELL OUR
LNG OR MAY HAVE TO SELL IT AT A LOSS.

 Our
traders at JHJ purchase NG at a fixed price in large volumes. If the spot prices for NG drop below our purchase price, we may not be
able to sell our NG to our customers or may have to sell the NG at a substantial loss. We do not purchase a sufficient volume of LNG
to be able to hedge against price declines of this commodity. If we believe that NG prices are too high and we are unable to purchase
because we believe that prices will drop, we will not have sufficient supply of NG to conduct trading operations until the market pricing
returns to a level at which we can conduct operations.

 WE
MAY NOT HAVE SUFFICENT FUNDS TO CONDUCT OUR TRADING OPERATIONS IN THE PRC.

 We
are funding our trading operations through cash flow generated by JHJ and from funds provided by our parent. If we or JHJ does not have
sufficient funds, we may not be able to conduct trading operations.

 OUR
WASTE TO ENERGY PRODUCTS FROM ENEX HAVE NOT BEEN TESTED IN THE UNITED STATES AND DEPEND ON DATA OBTAINED FROM OPERATIONS IN THE UKRAINE
AND RUSSIA.

 ENEX's
HTAP 5 and 10 have not been installed in the United States. In order to commence sales, our purchasers will need to accept data from
Russia or the Ukraine that they may not deem reliable. As a result we may be required to post large bonds or find an EPC that will guarantee
performance of the ENEX systems. We cannot give any assurances that we will be able to finance the bonds or find an EPC willing to guaranty
performance.

 THE
IMPLEMENTAION OF OUR WASTE TO ENERGY JOINT VENTURES DEPENDS ON US FINDING FUNDING FO THE PROJECTS.

 In
order to implement the ENEX system in our waste to energy joint ventures, we will need to finance directly or obtain third party financing
for these projects. We cannot give any assurances that we will be able to directly finance these projects or be able to find a third
party to provide financing to them. If we are not able to finance the projects we will not be able to implement our business plan in
this sector.

 FLUCTUATIONS
IN EXCHANGE RATES COULD HAVE A AN EFFECT ON THE RESULTS OF OPERATIONS OF OUR HONG KONG AND CHINA SUBSIDIARIES.

 The
value of the Renminbi against the U.S. dollar and other currencies may fluctuate and is affected by, among other things, changes in political
and economic conditions in China and by China's foreign exchange policies. Since June 2010, the Renminbi has fluctuated against
the U.S. dollar, at times significantly and unpredictably. In the fourth quarter of 2016, the Renminbi has depreciated significantly
in the backdrop of a surging U.S. dollar and persistent capital outflows of China. This depreciation halted in 2017, and the RMB appreciated
approximately 7% against the U.S. dollar during this one-year period. With the development of the foreign exchange market and progress
towards interest rate liberalization and Renminbi internationalization, the PRC government may in the future announce further changes
to the exchange rate system, and we cannot assure you that the Renminbi will not appreciate or depreciate significantly in value against
the U.S. dollar in the future which may impact the profitability of our operations in China.

 WE
MAY NEED TO RAISE ADDITIONAL CAPITAL REQUIRED TO GROW OUR BUSINESS, AND WE MAY NOT BE ABLE TO RAISE CAPITAL ON TERMS ACCEPTABLE TO US
OR AT ALL.

 Growing
and operating our business will require significant cash outlays and capital expenditures and commitments. We have utilized cash on hand
and cash generated from operations as sources of liquidity. If cash on hand and cash generated from operations are not sufficient to
meet our cash requirements, we will need to seek additional capital, potentially through equity or debt financing, to fund our growth.
Our ability to access the credit and capital markets in the future as a source of liquidity, and the borrowing costs associated with
such financing, are dependent upon market conditions.

 In
addition, any equity securities we issue, including any preferred stock, may be on terms that are dilutive or potentially dilutive to
our stockholders, and the prices at which new investors would be willing to purchase our securities may be lower than the offering price
per share of our Common Stock. The holders of any equity securities we issue, including any preferred stock, may also have rights, preferences
or privileges which are senior to those of existing holders of Common Stock. If new sources of financing are required, but are insufficient
or unavailable, we will be required to modify our growth and operating plans based on available funding, if any, which would harm our
ability to grow our business.

 NATURAL
DISASTERS AND OTHER CATASTROPHIC EVENTS BEYOND OUR CONTROL COULD ADVERSELY AFFECT OUR BUSINESS OPERATIONS AND FINANCIAL PERFORMANCE.

 The
occurrence of one or more natural disasters, such as fires, hurricanes, tornados, tsunamis, floods and earthquakes; geo-political events,
such as civil unrest in a country in which our suppliers are located or terrorist or military activities disrupting transportation, communication
or utility systems; or other highly disruptive events, such as nuclear accidents, pandemics, unusual weather conditions or cyber-attacks,
could adversely affect our operations and financial performance. Such events could result, among other things, in operational disruptions,
physical damage to or destruction or disruption of one or more of our properties or properties used by third parties in connection with
the supply of products or services to us, the lack of an adequate workforce in parts or all of our operations and communications and
transportation disruptions. These factors could also cause consumer confidence and spending to decrease or result in increased volatility
in the United States and global financial markets and economy. Such occurrences could have a material adverse effect on us and could
also have indirect consequences such as increases in the costs of insurance if they result in significant loss of property or other insurable
damage.

 WE
HAVE ISSUED A SUBSTANTIAL AMOUNT OF CONVERTIBLE SECURITIES WHICH IF CONVERTED WILL SUBSTANTIALLY DILUTE ALL OF OUR STOCKHOLDERS.

 We
have issued a substantial number of convertible securities which, if converted, would result in substantial dilution to our stockholders:

 Convertible
 Notes - and Approximate common share equivalents

 1,293,801

 Series E preferred shares

 1,857,590

 Warrants
 and Common Stock equivalent's

 70,102

 Total
 Convertible Common Stock equivalents

 3,221,493

 OUR
ISSUANCE OF ADDITIONAL CAPITAL STOCK IN CONNECTION WITH FINANCINGS, ACQUISITIONS, INVESTMENTS, OUR EQUITY INCENTIVE PLANS, OR OTHERWISE
WILL DILUTE ALL OTHER STOCKHOLDERS.

 We
expect to issue additional capital stock in the future that will result in dilution to all other stockholders. We expect to grant equity
awards to employees, directors, and consultants under our equity incentive plans. We may also raise capital through equity financings
in the future. As part of our business strategy, we may acquire or make investments in complementary companies, products, or technologies,
and issue equity securities to pay for any such acquisition or investment. Any such issuances of additional capital stock may cause stockholders
to experience significant dilution of their ownership interests and the per share value of our common stock to decline.

 WE
MAY MAKE ACQUISITIONS THAT ARE DILUTIVE TO EXISTING STOCKHOLDERS. IN ADDITION, OUR LIMITED EXPERIENCE IN ACQUIRING OTHER BUSINESSES,
PRODUCT LINES AND TECHNOLOGIES MAY MAKE IT DIFFICULT FOR US TO OVERCOME PROBLEMS ENCOUNTERED IN CONNECTION WITH ANY ACQUISITIONS WE MAY
UNDERTAKE.

 We
intend to evaluate and explore strategic opportunities as they arise, including business combinations, strategic partnerships, and the
purchase, licensing or sale of assets. In connection with any such future transaction, we could issue dilutive equity securities, incur
substantial debt, reduce our cash reserves or assume contingent liabilities.

 Our
experience in acquiring other businesses, product lines and technologies is limited. Our inability to overcome problems encountered in
connection with any acquisitions could divert the attention of management, utilize scarce corporate resources and otherwise harm our
business. Any potential future acquisitions also involve numerous risks, including:

 problems
 assimilating the purchased operations, technologies or products;

 costs
 associated with the acquisition;

 adverse
 effects on existing business relationships with suppliers and customers;

 risks
 associated with entering markets in which we have no or limited prior experience;

 potential
 loss of key employees of purchased organizations; and

 potential
 litigation arising from the acquired company's operations before the acquisition.

 Furthermore,
acquisitions may require material charges and could result in adverse tax consequences, substantial depreciation, deferred compensation
charges, in-process research and development charges, the amortization of amounts related to deferred compensation and identifiable purchased
intangible assets or impairment of goodwill, any of which could negatively affect our results of operations.

 WE
MAY BE SUBJECT TO GOVERNMENT LAWS AND REGULATIONS PARTICULAR TO OUR OPERATIONS WITH WHICH WE MAY BE UNABLE TO COMPLY.

 We
may not be able to comply with all current and future government regulations which are applicable to our business. Our business operations
are subject to all government regulations normally incident to conducting business (e.g., occupational safety and health acts, workmen's
compensation statutes, unemployment insurance legislation, income tax, and social security laws and regulations, environmental laws and
regulations, consumer safety laws and regulations, etc.) as well as to governmental laws and regulations applicable to small public companies
and their capital formation efforts. Although we will make every effort to comply with applicable laws and regulations, we can provide
no assurance of our ability to do so, nor can we predict the effect of those regulations on our proposed business activities. Our failure
to comply with material regulatory requirements would likely have an adverse effect on our ability to conduct our business and could
result in our cessation of active business operations.

 COMPLIANCE
WITH CHANGING REGULATION OF CORPORATE GOVERNANCE AND PUBLIC DISCLOSURE WILL RESULT IN ADDITIONAL EXPENSES.

 Changing
laws, regulations and standards relating to corporate governance and public disclosure, including the Sarbanes-Oxley Act of 2002 and
related SEC regulations, have created uncertainty for public companies and significantly increased the costs and risks associated with
accessing the public markets and public reporting. Our management team will need to invest significant management time and financial
resources to comply with both existing and evolving standards for public companies, which will lead to increased general and administrative
expenses and a diversion of management time and attention from revenue generating activities to compliance activities.

 OUR
REVENUE GROWTH RATE DEPENDS PRIMARILY ON OUR ABILITY TO EXECUTE OUR BUSINESS PLAN.

 We
may not be able to identify and maintain the necessary relationships within our industry. Our ability to execute our business plan also
depends on other factors, including the ability to:

 1.
Negotiate and maintain contracts and agreements with acceptable terms;

 2.
Hire and train qualified personnel;

 3.
Maintain marketing and development costs at affordable rates; and,

 4.
Maintain an affordable labor force.

 WE
MAY BE SUBJECT TO SECURITIES LITIGATION, WHICH IS EXPENSIVE AND COULD DIVERT MANAGEMENT ATTENTION.

 The
market price of the shares of our common stock may be volatile, and in the past companies that have experienced volatility in the market
price of their securities have been subject to securities class action litigation. We may be the target of this type of litigation in
the future. Securities litigation against us could result in substantial costs and divert our management's attention from other
business concerns, which could seriously harm our business.

 RISKS
RELATD TO DOING BUSINESS IN CHINA

 Due
to our operations in China, we face various legal and operational risks and uncertainties related to being based in and having significant
operations in China, and therefore are subject to risks associated with doing business in China generally. Risks and uncertainties related
to doing business in China could result in a material adverse change in our operations in China and/or the value of the securities we
are registering for sale, and may significantly limit or completely hinder our ability to offer or continue to offer securities to investors
and cause the value of such securities to significantly decline or be worthless. Such risks and uncertainties include the following:

 THERE
ARE UNCERTAINTIES REGARDING THE INTERPRETATION AND ENFORCEMENT OF PRC LAWS, RULES AND REGULATIONS.

 The
PRC legal system is a civil law system based on written statutes. Unlike the common law system, prior court decisions may be cited for
reference but have limited precedential value. In 1979, the PRC government began to promulgate a comprehensive system of laws, rules
and regulations governing economic matters in general. The overall effect of legislation over the past four decades has significantly
enhanced the protections afforded to various forms of foreign investment in China. However, China has not developed a fully integrated
legal system, and recently enacted laws, rules and regulations may not sufficiently cover all aspects of economic activities in China
or may be subject to various degrees of interpretation and discretion by PRC regulatory agencies. In particular, because these laws,
rules and regulations are relatively new, and because of the limited number of published decisions and the nonbinding nature of such
decisions, the interpretation and enforcement of these laws, rules and regulations involve uncertainties and are not always uniform and
predictable. These uncertainties may affect our judgment on the relevance of legal requirements and our ability to enforce our contractual
rights or tort claims. In addition, the PRC legal system is based in part on government policies and internal rules, some of which are
not published on a timely basis or at all, and which may have a retroactive effect. As a result, we may not be aware of our violation
of these policies and rules until sometime after the occurrence of the violation.

 Any
administrative and court proceedings in China may be protracted, resulting in substantial costs and diversion of resources and management
attention. Since PRC administrative and court authorities have different degrees of discretion in interpreting and implementing statutory
and contractual terms, it may be more difficult to evaluate the outcome of administrative and court proceedings and the level of legal
protection we enjoy than in more developed legal systems. These uncertainties may impede our ability to enforce the contracts we have
entered into and could materially and adversely affect our business, financial condition and results of operations.

 THE
PRC GOVERNMENT EXERTS SUBSTANTIAL INFLUENCE OVER THE MANNER IN WHICH WE CONDUCT OUR BUSINESS OPERATIONS. IT MAY INFLUENCE OR INTERVENE
IN OUR OPERATIONS AT ANY TIME AS PART OF ITS EFFORTS TO ENFORCE PRC LAW, WHICH COULD RESULT IN A MATERIAL ADVERSE CHANGE IN OUR OPERATIONS
AND THE VALUE OF THE SECURITIES WE ARE OFFERING.

 A
portion of our business is conducted in the PRC, and are governed by PRC laws, rules and regulations. The PRC government exerts substantial
influence over the manner in which we conduct our business, and may intervene in or influence our operations at any time. The PRC government
has recently published new policies that substantially affected certain industries. We cannot rule out the possibility that it will in
the future release regulations or policies that directly or indirectly affect our industry or require us to seek additional permission
to continue our operations, which could result in a material adverse change in our operation in China and/or the value of our securities.
Therefore, investors of our company and our business face potential uncertainty from actions taken by the PRC government affecting our
business.

 The
Chinese government has exerted more oversight and control over offerings that are conducted overseas and foreign investment in China-based
issuers. Such actions could significantly limit or completely hinder our ability to offer or continue to offer securities to investors
and cause the value of such securities to significantly decline or be worthless. For more details, see "— The approval
or record filing of the CSRC, CAC, or other PRC government authorities may be required in connection with our future capital raising
activities under the PRC laws."

 A
RECENT JOINT STATEMENT BY THE SEC AND THE PCAOB, RULE CHANGES BY NASDAQ, AND THE HOLDING FOREIGN COMPANIES ACCOUNTABLE ACT ALL CALL FOR
ADDITIONAL AND MORE STRINGENT CRITERIA TO BE APPLIED TO COMPANIES WITH OPERATIONS IN EMERGING MARKETS UPON ASSESSING THE QUALIFICATION
OF THEIR AUDITORS, ESPECIALLY THE NON-U.S. AUDITORS WHO ARE NOT INSPECTED BY THE PCAOB. THESE DEVELOPMENTS COULD ADD UNCERTAINTIES TO
OUR CONTINUED LISTING OR FUTURE OFFERINGS OF OUR SECURITIES IN THE U.S.

 On
April 21, 2020, SEC Chairman Jay Clayton and PCAOB Chairman William D. Duhnke III, along with other senior SEC staff, released a joint
statement highlighting the risks associated with investing in companies based in or having substantial operations in emerging markets
including China. The joint statement emphasized the risks associated with lack of access for the PCAOB to inspect auditors and audit
work papers in China and higher risks of fraud in emerging markets.

 On
May 18, 2020, Nasdaq filed three proposals with the SEC to (i) apply minimum offering size requirement for companies primarily operating
in "Restrictive Market", (ii) adopt a new requirement relating to the qualification of management or board of directors for
Restrictive Market companies, and (iii) apply additional and more stringent criteria to an applicant or listed company based on the qualifications
of the company's auditors.

 On
May 20, 2020, the U.S. Senate passed the Holding Foreign Companies Accountable Act requiring a foreign company to certify it is not owned
or controlled by a foreign government if the PCAOB is unable to audit specified reports because the company uses a foreign auditor not
subject to PCAOB inspection. If the PCAOB is unable to inspect the company's auditors for three consecutive years, the issuer's
securities are prohibited to trade on a national exchange. On December 2, 2020, the U.S. House of Representatives approved the Holding
Foreign Companies Accountable Act. On December 18, 2020, the Holding Foreign Companies Accountable Act was signed into law.

 On
March 24, 2021, the SEC announced the adoption of interim final amendments to implement the submission and disclosure requirements of
the Holding Foreign Companies Accountable Act. In the announcement, the SEC clarified that before any issuer will have to comply with
the interim final amendments, the SEC must implement a process for identifying covered issuers. The announcement also stated that the
SEC staff was actively assessing how best to implement the other requirements of the Holding Foreign Companies Accountable Act, including
the identification process and the trading prohibition requirements.

 On
June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which, if passed by the U.S. House
of Representatives and signed into law, would reduce the number of consecutive non-inspection years required for triggering the prohibitions
under the Holding Foreign Companies Accountable Act from three years to two. On December 29, 2022, a legislation entitled "Consolidated
Appropriations Act, 2023" (the "Consolidated Appropriations Act"), was signed into law by President Biden. The Consolidated
Appropriations Act contained, among other things, an identical provision to HFCAA, which reduces the number of consecutive non-inspection
years required for triggering the prohibitions under the HFCAA from three years to two.

 On
September 22, 2021, the PCAOB adopted a final rule implementing the Holding Foreign Companies Accountable Act, which provides a framework
for the PCAOB to use when determining, as contemplated under the Holding Foreign Companies Accountable Act, whether the board of directors
of a company is unable to inspect or investigate completely registered public accounting firms located in a foreign jurisdiction because
of a position taken by one or more authorities in that jurisdiction.

 On
December 2, 2021, the SEC issued amendments to finalize rules implementing the submission and disclosure requirements in the Holding
Foreign Companies Accountable Act. The rules apply to registrants that the SEC identifies as having filed an annual report with an audit
report issued by a registered public accounting firm that is located in a foreign jurisdiction and that PCAOB is unable to inspect or
investigate completely because of a position taken by an authority in foreign jurisdictions. The final amendments were effective on January
10, 2022. The SEC began to identify and list Commission-Identified Issuers on its website shortly after registrants began filing their
annual reports for 2021.

 On
December 16, 2021, the PCAOB announced the PCAOB Holding Foreign Companies Accountable Act determinations (the "PCAOB determinations")
relating to the PCAOB's inability to inspect or investigate completely registered public accounting firms headquartered in China
of the PRC or Hong Kong, a Special Administrative Region and dependency of the PRC, because of a position taken by one or more authorities
in the PRC or Hong Kong.

 On
August 26, 2022, the PCAOB signed a Statement of Protocol with the CSRC and the Ministry of Finance of the People's Republic of
China governing inspections and investigations of audit firms based in China and Hong Kong.

 On
December 15, 2022, the PCAOB announced in the 2022 Determination its determination that the PCAOB was able to secure complete access
to inspect and investigate accounting firms headquartered in mainland China and Hong Kong, and the PCAOB Board voted to vacate previous
determinations to the contrary.

 Should
the PCAOB again encounter impediments to inspections and investigations in mainland China or Hong Kong as a result of positions taken
by any authority in either jurisdiction, including by the CSRC or the MOF, the PCAOB will make determinations under the HFCAA as and
when appropriate. The inability of the PCAOB to conduct inspections of auditors in PRC makes it more difficult to evaluate the effectiveness
of these accounting firm's audit procedures or quality control procedures as compared to auditors outside of PRC that are subject
to the PCAOB inspections, which could cause investors and potential investors in our Common stock to lose confidence in our audit procedures
and reported financial information and the quality of our financial statements.

 Both
our current auditor, TAAD LLP, and our former auditor, Fruci & Associates II, PLLC, are headquartered in the United States and, as
PCAOB-registered public accounting firms, they are required to undergo regular inspections by the PCAOB to assess its compliance with
the laws of the U.S. and professional standards. TAAD LLP and Fruci & Associates II, PLLC have been subject to PCAOB inspections
and are not among the PCAOB-registered public accounting firms headquartered in the PRC or Hong Kong that are subject to the PCAOB's
determination of having been unable to inspect or investigate completely. Notwithstanding the foregoing, if it is later determined that
the PCAOB is unable to inspect or investigate our auditor completely, if there is any regulatory change or step taken by PRC regulators
that does not permit our auditor to provide audit documentations located in China or Hong Kong to the PCAOB for inspection or investigation,
or the PCAOB expands the scope of the Determination so that we are subject to the HFCAA, as the same may be amended, our common stock
may be delisted from or prohibited from trading on a national securities exchange.

 The
recent developments would add uncertainties to our offering and we cannot assure you whether Nasdaq or regulatory authorities would apply
additional and more stringent criteria to us. Furthermore, the Consolidated Appropriations Act reduces the period for foreign companies
to comply with PCAOB audits to two consecutive years instead of three, thus reducing the time period for triggering the prohibition on
trading, and this ultimately could result in our common stock being delisted by an exchange.

 THE
APPROVAL OR RECORD FILING OF THE CSRC, CAC, OR OTHER PRC GOVERNMENT AUTHORITIES MAY BE REQUIRED IN CONNECTION WITH OUR FUTURE CAPITAL
RAISING ACTIVITIES UNDER THE PRC LAWS.

 Recent
statements by the Chinese government have indicated an intent to exert more oversight and control over offerings that are conducted overseas
and/or foreign investments in PRC based issuers. The PRC has recently promulgated new rules that require companies collecting or holding
large amounts of data to undergo a cybersecurity review prior to listing in foreign countries, a move that will significantly tighten
oversight over PRC-based internet giants. The Measures for Cybersecurity Review (2021 version) was promulgated on December 28, 2021 and
became effective on February 15, 2022. These measures specify that any "online platform operators" controlling the personal
information of more than one million users which seek to list on a foreign stock exchange are subject to prior cybersecurity review.

 On
November 14, 2021, the Cyberspace Administration of China (the "CAC") published the Draft Regulations on the Network Data
Security Administration (Draft for Comments) (the "Security Administration Draft"), which provides that data processing operators
engaging in data processing activities that affect or may affect national security must be subject to cybersecurity review by the relevant
Cyberspace Administration of the PRC. According to the Security Administration Draft, data processing operators shall apply for a cybersecurity
review by the relevant Cyberspace Administration of the PRC under certain circumstances, such as (i) mergers, restructurings, and divisions
of Internet platform operators that hold large amount of data relating to national security, economic development, or public interest
which affects or may affect the national security, (ii) overseas listings of data processors that process personal data for more than
one million individuals, (iii) Hong Kong listings of data processors that affect or may affect national security, and (iv) other data
processing activities that affect or may affect the national security. The deadline for public comments on the Security Administration
Draft was December 13, 2021.

 The
PRC Data Security Law, which was promulgated by the Standing Committee of the National People's Congress (the "SCNPC")
on June 10, 2021 and took effect on September 1, 2021, requires data collection to be conducted in a legitimate and proper manner, and
stipulates that, for the purpose of data protection, data processing activities must be conducted based on data classification and hierarchical
protection system for data security.

 On
August 20, 2021, the SCNPC promulgated the Personal Information Protection Law of the People's Republic of China, or the Personal
Information Protection Law, which integrates the scattered rules with respect to personal information rights and privacy protection and
took effect on November 1, 2021.

 Our
business in China does not involve the collection of user data, implicate cybersecurity, or involve any other type of restricted industry.
Based on our understanding of currently applicable PRC laws and regulations, our registered public offering in the U.S. is not subject
to the review or prior approval of the CAC. As of the date of this Annual Report, we have not received any notice from any authorities
identifying the operating entities as CIIOs or requiring us to go through cybersecurity review or network data security review by the
CAC. Uncertainties still exist, however, due to the possibility that laws, regulations, or policies in the PRC could change rapidly in
the future. Any future action by the PRC government expanding the categories of industries and companies whose foreign securities offerings
are subject to review by the CAC could significantly limit our ability to offer or continue to offer securities to investors and could
cause the value of such securities to significantly decline or be worthless.

 On
February 17, 2023, the CSRC released Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies
with five interpretive guidelines (the "Trial Measures"), which came into effect on March 31, 2023. Pursuant to the Trial
Measures, a PRC domestic company that seeks to offer and list securities in overseas markets, either in direct or indirect overseas offering,
shall fulfill the filing procedure with the CSRC and report relevant information to the CSRC. Direct overseas offering and listing by
domestic companies refers to such overseas offering and listing by a joint-stock company incorporated domestically. Any overseas offering
and listing made by an issuer that meets both the following conditions will be deemed an indirect offering and listing in an overseas
market and, therefore, be subject to filing requirement: (i) 50% or more of the issuer's operating revenue, total profit, total
assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year is accounted
for by domestic companies; and (ii) the main parts of the issuer's business activities are conducted in the Mainland China, or
its main places of business are located in the Mainland China, or the senior managers in charge of its business operation and management
are mostly Chinese citizens or domiciled in the Mainland China. The determination as to whether or not an overseas offering and listing
by domestic companies is indirect shall be made on substance over form basis. If we ever are required by the CSRC to submit and complete
the filing procedures for our future offerings of our securities, we cannot assure you that we will be able to complete such filings
in a timely manner, or even at all, which could significantly limit or completely hinder our ability to offer or continue to offer securities
to investors and cause the value of such securities to significantly decline or become worthless. Any failure by us to comply with such
filing requirements under the Trial Measures may result in rectification, warnings, and a fine between RMB 1 million and RMB 10 million
on our PRC Subsidiaries or Shuya, which could adversely and materially affect our business operations and financial outlook and could
cause the value of our common stock to significantly decline or, in extreme cases, become worthless.

 On
February 24, 2023, the CSRC, together with other PRC government authorities, released the Provisions on Strengthening the Confidentiality
and Archives Administration Related to the Overseas Securities Offering and Listing by Domestic Enterprises (the "Confidentiality
and Archives Administration Provisions"), which come into effect on March 31, 2023. The Confidentiality and Archives Administration
Provisions require, among others, that PRC domestic enterprises seeking to offer and list securities in overseas markets, either directly
or indirectly, shall establish the confidentiality and archives system, and shall complete approval and filing procedures with competent
authorities, if such PRC domestic enterprises or their overseas listing entities provide or publicly disclose documents or materials
involving state secrets and work secrets of PRC government agencies to relevant securities companies, securities service institutions,
overseas regulatory agencies and other entities and individuals. It further stipulates that providing or publicly disclosing documents
and materials which may adversely affect national security or public interests, and accounting files or copies of important preservation
value to the state and society shall be subject to corresponding procedures in accordance with relevant laws and regulations. As of the
date of this Annual Report, we are not subject to the approval to the competent authorities since we do not possess any documents or
materials involving state secrets and work secrets of PRC government agencies.

 We
have been closely monitoring regulatory developments in the PRC regarding any necessary approvals from the CSRC or other PRC governmental
authorities required for overseas listings. However, there remains significant uncertainty as to the enactment, interpretation and implementation
of regulatory requirements related to overseas securities offerings and other capital markets activities, which could materially and
adversely impact our business and financial outlook and may impact our ability to accept foreign investments, or continue to list on
a U.S. or other foreign exchange.

 CHINA'S
ANTI-MONOPOLY LAW, M&A RULES AND CERTAIN OTHER PRC LAWS AND REGULATIONS ALSO ESTABLISH COMPLEX PROCEDURES FOR ACQUISITIONS CONDUCTED
BY FOREIGN INVESTORS THAT COULD MAKE IT MORE DIFFICULT FOR US TO GROW THROUGH ACQUISITIONS IN CHINA.

 A
number of regulations also established additional procedures and requirements that are expected to make merger and acquisition activities
in China by foreign investors more time-consuming and complex. For example, the M&A rules require that the Ministry of Commerce,
or the MOFCOM, be notified in advance of any change-of-control transaction in which a foreign investor takes control of a PRC domestic
enterprise if (i) any important industry is concerned, (ii) such transaction involves factors that have or may have impact on the national
economic security, or (iii) such transaction will lead to a change in control of a domestic enterprise which holds a famous trademark
or PRC time-honored brand.

 The
approval from the MOFCOM shall be obtained in circumstances where overseas companies established or controlled by PRC enterprises or
residents acquire affiliated domestic companies. Mergers, acquisitions or contractual arrangements that allow one market player to take
control of or to exert decisive impact on another market player must also be notified in advance to the anti-monopoly authority under
the State Council when the threshold under the Provisions on Thresholds for Prior Notification of Concentrations of Undertakings, or
the Prior Notification Rules, issued by the State Council in August 2008 and amended in September 2018, is triggered. In addition, the
Rules of the Ministry of Commerce on Implementation of Security Review System of Mergers and Acquisitions of Domestic Enterprises by
Foreign Investors, or the Security Review Rule issued by the MOFCOM that became effective in September 2011 specify that mergers and
acquisitions by foreign investors that raise "national defense and security" concerns and mergers and acquisitions through
which foreign investors may acquire de facto control over domestic enterprises that raise "national security" concerns are
subject to strict review by the MOFCOM, and the rules prohibit any activities attempting to bypass a security review, including by structuring
the transaction through a proxy or contractual control arrangement.

 Furthermore,
on December 19, 2020, the National Development and Reform Commission, or the NDRC, and MOFCOM promulgated the Measures for Security Review
of Foreign Investment, or the Foreign Investment Security Review Measures, which took effect on January 18, 2021. Under the Foreign Investment
Security Review Measures, investment in certain key areas which results in acquiring the actual control of the assets is required to
obtain approval from designated governmental authorities in advance. We may grow our business in part by acquiring other companies operating
in our industry. Complying with the requirements of the new regulations to complete such transactions could be time-consuming, and any
required approval processes, including approval from the MOFCOM, the State Administration for Industry and Commerce and other governmental
authorities, may delay or inhibit our ability to complete such transactions, which could affect our ability to expand our business or
maintain our market share. It is unclear whether our business would be deemed to be in an industry that raises "national defense
and security" or "national security" concerns. However, MOFCOM or other government agencies may publish explanations
in the future determining that our business is in an industry subject to the security review, in which case our future acquisitions in
China may be closely scrutinized or prohibited. Our ability to expand our business or maintain or expand our market share through future
acquisitions would as such be materially and adversely affected.

 OUR
PRC SUBSIDIARIES AND SHUYA ARE SUBJECT TO RESTRICTIONS ON PAYING DIVIDENDS OR MAKING OTHER PAYMENTS TO US, WHICH MAY RESTRICT OUR ABILITY
TO SATISFY OUR LIQUIDITY REQUIREMENTS IN THE FUTURE.

 We
may need dividends and other distributions on equity from our PRC Subsidiaries or Shuya to satisfy our liquidity requirements. Current
PRC regulations permit our PRC Subsidiaries and Shuya to pay dividends to their respective shareholders only out of their accumulated
profits, if any, determined in accordance with PRC accounting standards and regulations. In addition, such companies are required to
set aside at least 10% of their accumulated profits each year, if any, to fund certain reserve funds until the total amount set aside
reaches 50% of its registered capital. Our PRC Subsidiaries or Shuya may also, at the respective subsidiary's discretion, allocate
a portion of its after-tax profits based on its articles of association and PRC accounting standards to certain reserve funds. These
reserves are not distributable as cash dividends. Furthermore, if our PRC Subsidiaries or Shuya incur debt on their own behalf in the
future, the instruments governing the debt may restrict their ability to pay dividends or make other payments to us. Any limitation on
the ability of our PRC Subsidiaries or Shuya to distribute dividends or to make payments to us may restrict our ability to satisfy our
future liquidity requirements.

 In
addition, the Enterprise Income Tax Law and its implementation rules provide that a withholding tax rate of up to 10% will be applicable
to dividends payable by PRC companies to non-PRC-resident enterprises unless otherwise exempted or reduced according to treaties or arrangements
between the PRC central government and governments of other countries or regions where the non-PRC-resident enterprises are incorporated.
If we are deemed by the PRC tax authorities as a PRC tax resident enterprise for tax purposes, any dividends we pay to our non-PRC resident
shareholders may be regarded as China-sourced income and as a result, may be subject to PRC withholding tax at a rate of up to 10.0%.
Pursuant to the Arrangement between Mainland China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation
and Tax Evasion on Income, or the Double Tax Avoidance Arrangement, the 10% withholding tax rate may be reduced to 5% if a Hong Kong
resident enterprise owns no less than 25% of a PRC entity. However, the 5% withholding tax rate does not automatically apply and certain
requirements must be satisfied, including, without limitation, that (a) the Hong Kong entity must be the beneficial owner of the relevant
dividends; and (b) the Hong Kong entity must directly hold no less than 25% share ownership in the PRC entity during the 12 consecutive
months preceding its receipt of the dividends. In practice, a Hong Kong entity must obtain a tax resident certificate from the Hong Kong
tax authority to apply for the 5% lower PRC withholding tax rate. As the Hong Kong tax authority will issue such a tax resident certificate
on a case-by-case basis, we cannot be certain that we will be able to obtain the tax resident certificate from the relevant Hong Kong
tax authority and enjoy the preferential withholding tax rate of 5% under the Double Taxation Arrangement with respect to any dividends
to be paid by our subsidiaries in mainland China to our Hong Kong subsidiary, Clean Energy Technologies (H.K.) Limited.

 We
can give no assurance that we will declare dividends of any amounts, at any rate or at all in the future. The declaration of future dividends,
if any, will be at the discretion of our board of directors and will depend upon our future operations and earnings, capital requirements,
general financial conditions, legal and contractual restrictions and other factors that our board of directors may deem relevant.

 PRC
REGULATION OF LOANS TO AND DIRECT INVESTMENT IN PRC ENTITIES BY OFFSHORE HOLDING COMPANIES AND GOVERNMENTAL CONTROL OF CURRENCY CONVERSION
MAY DELAY OR PREVENT US FROM MAKING LOANS OR ADDITIONAL CAPITAL CONTRIBUTIONS TO OUR PRC SUBSIDIARIES OR SHUYA.

 We
are a U.S. based company conducting a portion of our operations in China. We may make loans to our PRC subsidiaries or Shuya subject
to the approval, registration, and filing with governmental authorities and limitation of amount, or we may make additional capital contributions
to our subsidiaries in China and Hong Kong. Any loans to our wholly foreign-owned subsidiaries in mainland China, which are treated as
foreign-invested enterprises under PRC law, are subject to foreign exchange loan registrations. In light of the various requirements
imposed by PRC regulations on loans to and direct investment in PRC entities by offshore holding companies, we cannot assure you that
we will be able to complete the necessary government registrations or obtain the necessary government approvals or filings on a timely
basis, if at all, with respect to future loans by us to our PRC Subsidiaries and Shuya or with respect to future capital contributions
by us to our PRC Subsidiaries and Shuya. If we fail to complete such registrations or obtain such approvals, our ability to use the proceeds
from securities offering and to capitalize or otherwise fund our Chinese operations may be negatively affected.

 FLUCTUATIONS
IN EXCHANGE RATES COULD HAVE AN EFFECT ON THE RESULTS OF OPERATIONS OF OUR PRC SUBSIDIARIES AND SHUYA.

 The
value of the Renminbi against the U.S. dollar and other currencies may fluctuate and is affected by, among other things, changes in political
and economic conditions in China and by China's foreign exchange policies. Since June 2010, the Renminbi has fluctuated against
the U.S. dollar, at times significantly and unpredictably. With the development of the foreign exchange market and progress towards interest
rate liberalization and Renminbi internationalization, the PRC government may in the future announce further changes to the exchange
rate system, and we cannot assure you that the Renminbi will not appreciate or depreciate significantly in value against the U.S. dollar
in the future which may impact the profitability of our operations in China.

 Item
1B. Unresolved Staff Comments.

 None.

 Item
2. Properties.

 Our
corporate headquarters was located at 2990 Redhill Unit A, Costa Mesa, CA., which ended in November 2023. On March 10, 2016, the Company signed a lease agreement for
a 18,200-square foot CTU Industrial Building. Lease term were seven years and two months beginning July 1, 2017. In October of 2018 we
signed a sublease agreement with our facility in Italy with an indefinite term that may be terminated by either party with a 60-day notice
for 1,000 Euro per month. Due to the short termination clause, we are treating this as a month-to-month lease.

 We
have relocated our corporate offices to 1340 Reynolds Avenue Unit 120, Irvine, CA 92614. On December 1, 2023, the Company signed a
lease agreement for a 3000-square foot of office space with Metro Creekside California, LLC. Lease term is thirty-eight months
beginning December 1, 2023 and expiring on January 31, 2027. This location is used as CETY's headquarters and coordination
center for all domestic and global business units. On October 16 of 2023 we signed a sublease agreement to relocate the HRS
operations from Costa Mesa to Irvine, California for one year and 7 months commencing December 1, 2023 and ending June 30, 2025.
This location is used for Heat Recovery Solutions design, manufacturing, testing, and support. We also signed a temporary storage
lease and Due to the short termination clause, we are treating this as a month-to-month lease. The lease payments for the years
ending December 31, are:

 Year

 Lease
 Payment

 2023

 401,293

 Our
lease expense for the years ended December 31, 2023, and 2022 was $401,293. and $349, 610, respectively, which also included common area
maintenance.

 We
also maintain an 800 sq-ft R&D office located in Alanya city, within the Antalya region of Turkey. This facility is leased for a
duration of two years, with payments made biannually. Our primary activities within this office include conducting marketing research
for our CETY renewable business unit, facilitating sales operations, managing sourcing activities, and coordinating support for CETY's
engineering services.

 We
also operate offices in Chengdu, China, which serve as operational bases for our NG trading business and a gas storage and pumping station in Chengdu, China as well.

 Item
3. Legal Proceedings.

 From
time to time, we may be party to litigation matters occurring in the ordinary course of our business. As of the date of this Annual Report,
however, there are no material pending legal or governmental proceedings relating to our Company to which we are a party, and to our
knowledge there are no material proceedings to which any of our directors, executive officers or affiliates are a party adverse to us
or which have a material interest adverse to us.

 Item
4. Mine Safety Disclosures

 Not
Applicable.

 PART
II

 Item
5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

 Bid
and ask quotations for our common shares are routinely submitted by registered broker dealers who are members of the National Association
of Securities Dealers on the NASD Over-the-Counter Electronic Bulletin Board. These quotations reflect inner-dealer prices, without retail
mark-up, mark-down or commission and may not represent actual transactions. The high and low bid information for our shares for each
quarter for the last two years, so far as information is reported, through the year ended December 31, 2023, as reported by the OTC Markets,
are as follows:

 2022 FISCAL YEAR

 High

 Low

 First Quarter

 $
 2.39

 $
 0.89

 Second Quarter

 $
 1.59

 $
 0.81

 Third Quarter

 $
 2.16

 $
 0.81

 Fourth Quarter

 $
 3.11

 $
 0.96

 2023
 FISCAL YEAR

 High

 Low

 First
 Quarter

 $

 3.66

 $

 3.27

 Second
 Quarter

 $

 1.93

 $

 1.72

 Third
 Quarter

 $

 1.93

 $

 1.82

 Fourth
 Quarter

 $

 1.59

 $

 1.44

 Record
Holders

 As
of April 15, 2024 there were 42,685,248 shares of the registrant's $0.001 par value common stock issued and outstanding and were
owned by approximately 201 holders of record, based on information provided by our transfer agent.

 Dividend
Policy

 We
have never declared a cash dividend on our common stock and our Board of Directors does not anticipate that we will pay cash dividends
in the foreseeable future. Any future determination to pay cash dividends will be at the discretion of our board of directors and will
depend upon our financial condition, operating results, capital requirements, restrictions contained in our agreements and other factors
which our Board of Directors deems relevant.

 Recent
Sales of Unregistered Securities

 On
February 5, 2021 we issued 75,000 shares of our common stock at a price of $3.2 per share, in exchange for the conversion of 1,200 shares
of our Series D Preferred Stock.

 On
February 9, 2021 we issued 56,892 shares of our common stock share, in exchange for the conversion of $182,052 of accrued dividend for
the series D Preferred Stock.

 On
March 12, 2021 we issued 40,625 shares and 51,715 of our common stock at a price of $3.2 per share, in exchange for the conversion of
650 shares of our Series D Preferred Stock and $165,487 of accrued dividend for the series D preferred stock.

 On
June 28, 2021 MGW I converted $75,000 from the outstanding balance of their convertible note into 625,000 shares of company's common
stock.

 On
September 2, 2021 the company issued 28,561 as inducement shares. To GHS Investment for the equity line of credit at $1.9 per share.

 On
September 13, 2021 the company issued 27,516 as issuance correction. To GHS Investment for the equity line of credit at $1.9 per share.

 On
December 31, 2021 we issued 245,844 shares of our common stock under our Reg A offering at $3.2 per share. These shares are unrestricted
and free trading.

 On
February 21, 2022, we issued 375,875 shares of our common stock under our Reg A offering at $3.2 per share. These shares are unrestricted
and free trading.

 On
September 21, 2022 MGW I converted $1,548,904 from the outstanding balance of their convertible note into 12,907,534 shares of company's
common stock.

 On
December 28, 2022, we issued 100,446 shares of common stock upon the exercise of the cashless warrant that the Company issued to Mast
Hill on May 6, 2022.

 On
March 1, 2023 First Fire exercised the warrant in full on a cashless basis to purchase 33,114 shares of common stock.

 On
March 1, 2023 Pacific Pier exercised the warrant in full on a cashless basis to purchase 31,111 shares of common stock.

 In
the third quarter of 2023, the Company issued 40,000 shares to a consultant at fair
value of $72,000.

 In the second quarter of 2023, the Company issued
213,188 shares and received cash proceed of $341,101.

 In the fourth quarter of 2023, the Company issued
213,188 shares and received cash proceeds of $293,600.

 These
securities were issued pursuant to Section 4(2) of the Securities Act and/or Rule 506 promulgated thereunder. The holders represented
their intention to acquire the securities for investment only and not with a view towards distribution. The investors were given adequate
information about us to make an informed investment decision. We did not engage in any general solicitation or advertising. We directed
our transfer agent to issue the stock certificates with the appropriate restrictive legend affixed to the restricted stock.

 Item
6. Selected Financial Data.

 We
are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information
under this item. We reserve the right not to provide the Selected Financial Data in our future filings.

 Item
7. Management's Discussion and Analysis of Financial Condition and Results of Operations.

 You
should read this section together with our consolidated financial statements and related notes thereto included elsewhere in this report.

 FORWARD-LOOKING
STATEMENTS

 This
Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements
that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity,
performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed,
or implied, by those forward-looking statements. You can identify forward-looking statements by the use of the words may, will, should,
could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those
terms. These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our
actual results to differ materially from any forward-looking statements. Although we believe that the exceptions reflected in the forward-looking
statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Therefore, actual results
may differ materially and adversely from those expressed in any forward-looking statements. We undertake no obligation to revise or update
publicly any forward-looking statements for any reason.

 Company
Information

 We
were incorporated in California in July 1995 under the name Probe Manufacturing Industries, Inc. We redomiciled to Nevada in April 2005
under the name Probe Manufacturing, Inc. We manufactured electronics and provided services to original equipment manufacturers (OEMs)
of industrial, automotive, semiconductor, medical, communication, military, and high technology products. On September 11, 2015 Clean
Energy HRS, or "CE HRS", our wholly owned subsidiary acquired the assets of Heat Recovery Solutions from General Electric
International. In November 2015, we changed our name to Clean Energy Technologies, Inc.

 Our
principal executive offices are located at 1340 Reynolds Avenue Unit 120, Irvine, California 92614. Our telephone number is (949) 273-4990.
Our common stock is listed on the NASDAQ Markets under the symbol "CETY."

 Our
internet website address is www.cetyinc.com and our subsidiary's web site is www.heatrecoverysolutions.com The information
contained on our websites are not incorporated by reference into this document, and you should not consider any information contained
on, or that can be accessed through, our website as part of this document.

 The
Company has four reportable segments: Clean Energy HRS (HRS), CETY Renewables waste to energy solutions, engineering and manufacturing
services, and CETY HK natural gas trading business.

 We
specialize in renewable energy & energy efficiency systems design, manufacturing and project implementation. We were incorporated
in California in July 1995 under the name Probe Manufacturing Industries, Inc. We redomiciled to Nevada in April 2005 under the name
Probe Manufacturing, Inc. We provided engineering and manufacturing electronics services to original equipment manufacturers (OEMs) of
clean energy, industrial, automotive, semiconductor, medical, communication, military, and high technology products.

 With
the vision to combat climate change and creating a better, cleaner and environmentally sustainable future, we formed Clean Energy
HRS, LLC a wholly owned subsidiary of Clean Energy Technologies, Inc. and acquired the assets of Heat Recovery Solutions from
General Electric International on September 11, 2015. In November 2015, we changed our name to Clean Energy Technologies, Inc. Our
principal executive offices are located at 1340 Reynolds Avenue Unit 120, Irvine, CA 92614. We have 20 full-time employees. All
employees and overhead are shared between Clean Energy Technologies, Inc. (which still provides the contract electronic
manufacturing services) and Clean Energy HRS, LLC, waste to energy business unit, and our natural gas trading business.

 Clean
Energy Technologies, Inc. established a new company, CETY Europe, SRL (CETY Europe) as a wholly owned subsidiary. CETY Europe is a Sales
and Service Center in Silea (Treviso), Italy established in 2017. The service center became operational in November 2018. Their offices
are located at Alzaia Sul Sile, 26D, 31057 Silea (TV) and the have 1 full time employee.

 Clean
Energy Technologies, Inc. established a wholly owned subsidiary called CETY Capital, a financing arm of CETY to fund captive renewable
energy projects producing low carbon energy. CETY Capital will add flexibility to the capacity CETY offers its customers and fund projects
utilizing its products and clean energy solutions.

 CETY
Capital retains 49% ownership interest in Vermont Renewable Gas LLC established to develop a biomass plant in Vermont utilizing CETY's
High Temperature Ablative Pyrolysis system.

 Clean
Energy Technologies (H.K.) Limited., a wholly owned subsidiary of Clean Energy Technologies Inc. acquired 100% ownership of Leading Wave
Limited a natural gas trading company in China.

 The
Company has four reportable segments: Clean Energy HRS (HRS) and CETY Europe, CETY Renewables, CETY HK and engineering and manufacturing
services division.

Overview

 General

 The
Company's business and operating results are directly affected by changes in overall customer demand, operational costs and performance
and leverage of our fixed cost and selling, general and administrative ("SG&A") infrastructure.

 Product
sales fluctuate in response to several factors including many that are beyond the Company's control, such as general economic conditions,
interest rates, government regulations, consumer spending, labor availability, and our customers' production rates and inventory
levels. Product sales consist of demand from customers in many different markets with different levels of cyclicality and seasonality.

 Operating
performance is dependent on the Company's ability to manage changes in input costs for items such as raw materials, labor, and
overhead operating costs. Performance is also affected by manufacturing efficiencies, including items such as on time delivery, quality,
scrap, and productivity. Market factors of supply and demand can impact operating costs

 Who
We Are

 We
develop renewable energy products and solutions and establish partnerships in renewable energy that make environmental and economic sense.
Our mission is to be a segment leader in the Zero Emission Revolution by offering eco-friendly energy solutions, clean energy fuels and
alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We target sustainable energy solutions
that are profitable for us, profitable for our customers and represent the future of global energy production.

 Our
principal businesses

 Waste
Heat Recovery Solutions – we recycle wasted heat produced in manufacturing, waste to energy and power generation facilities
using our patented Clean Cycle TM generator to create electricity which can be recycled or sold to the grid.

 Waste
to Energy Solutions - we convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries
to electricity, renewable natural gas ("RNG"), hydrogen and bio char which are sold or used by our customers.

 Engineering,
Consulting and Project Management Solutions – we bring a wealth of experience in developing clean energy projects for municipal
and industrial customers and Engineering, Procurement and Construction (EPC) companies so they can identify, design, and incorporate
clean energy solutions in their projects.

 CETY
HK

 Clean
Energy Technologies (H.K.) Limited ("CETY HK") consists of a ventures in mainland China:(i) our natural gas ("NG")
trading operations sourcing and suppling NG to industries and municipalities. The NG is principally used for heavy truck refueling stations
and urban or industrial users. We purchase large quantities of NG from large wholesale NG depots at fixed prices which are prepaid for
in advance at a discount to market. We sell the NG to our customers at prevailing daily spot prices for the duration of the contracts.

and Segment Information

 We
design, produce and market clean energy products and integrated solutions focused on energy efficiency and renewable energy. Our aim
is to become a leading provider of renewable and energy efficiency products and solutions by helping commercial companies and municipalities
reduce energy waste and emissions, lower energy costs and generate incremental revenue by providing electricity, renewable natural gas
and biochar to the grid.

Information

 Our
four segments for accounting purposes are:

 Clean
Energy HRS & CETY Europe – Our Waste Heat Recovery Solutions, converting thermal energy to zero emission electricity.

 CETY
Renewables Waste to Energy Solutions – Providing Waste to Energy technologies and solutions.

 Engineering
and Manufacturing Business – Providing customers with comprehensive design, manufacturing, and project management solutions.

 CETY
HK – The parent company of our NG trading operations in China. Prior to the first quarter of 2022, the Company had three reportable
segments but added the CETY HK segment to reflect its recent new businesses in China.

 Summary
of Operating Results for the year ended December 31, 2023 Compared to the year ended December 31, 2022

 Going
Concern

 The
financial statements have been prepared on a going concern basis, which contemplates continuity of operations, realization of assets
and liquidation of liabilities in the normal course of business. The Company had a total stockholder's equity of $5,869,198 and
a working capital deficit of $1,949,205 and an accumulated deficit of $22,984,163 as of December 31, 2023 and used $4,783,077 in net cash
from operating activities for the year ended December 31, 2023. CETY has a clear strategy in place and has the capability to successfully
restructure its existing debt and secure additional financing. With its current strategic approach and diversification of its products
and solutions, the management has created a favorable environment for the company to transition towards profitability.

 For
the fiscal year closing on December 31, 2023, our company reported a net loss amounting to $5,531,762, to the net profit of $147,395
we achieved during the equivalent period in 2022. This downturn in profitability for 2023 can largely be attributed to several key factors:
our strategic expansion which included the integration of two new business ventures, a rise in employee compensation and general overhead
costs, diminished profit margins within our NG operations, significantly increased overhead expenses following our listing on NASDAQ,
and a notable uptick in interest expenses and fees related to convertible debts and bridge loans, marking a higher interest expenditure
compared to the previous year.

 Following
the close of the 2022 fiscal year, the company's equity for the fiscal year ending in 2023 saw a significant increase, rising from
1,878,196 to 5,111,982. This remarkable growth is primarily attributed to the success of the company's public offering, which generated
gross proceeds of $3.9 million, and conversion of some of its convertible notes into Series E preferred shares. Looking ahead, the company
is poised for further growth with the anticipated launch of its biomass project in Vermont in 2024, which is expected to contribute to
both profitability and growth. Additionally, the company's ability to secure funding has been greatly enhanced following its listing
on the Nasdaq on March 23, 2023. With a focus on optimizing operations and expanding global sales, management is confident in the company's
ability to sustain long-term profitability and maintain a strong capital position.

 RELATED
PARTY TRANSACTIONS

 See
note 13 to the notes to the financial statements for a discussion on related party transaction

 Results
for the year ended December 31, 2023, compared to the year ended December 31, 2022.

 Net
Sales

 For
the year ended December 31, 2023, our total revenue was $15,113,463 compared to $2,663,212 for the same period in 2022. The Company has
four reportable segments: Clean Energy HRS (HRS), CETY Europe and the engineering & manufacturing services division, CETY HK.

breakdown

 For
the fiscal year ending December 31, 2023, our revenue from Engineering and Manufacturing amounted to $47,091, a decrease from
$203,078 for the corresponding period in 2022. This decline can be attributed to the phased closure of our legacy manufacturing
operations and a strategic reallocation of resources towards becoming a fully integrated clean energy solution provider, thereby
strengthening support for our other technology segments.

 For
the year ended December 31, 2023, our revenue from HRS was $497,584 compared to $488,453 for the same period in 2022. However, we're
optimistic that the new government incentives will support an increase in revenue from our heat recovery solutions.

 For
the fiscal year ending December 31, 2023, our revenue from CETY Renewables, our newly launched waste-to-energy business, amounted to
$429,999. There was no revenue generated from this segment in the preceding year.

 For
the fiscal year ending December 31, 2023, our revenue from the NG business reached $14,138,789, a significant rise from $1,890,439 in
the corresponding period of 2022. This substantial growth can be attributed to our enhanced capacity to secure additional NG allocations,
coupled with the successful consolidation of our newly established joint venture.

 Gross
Profit

 For
the year ending December 31, 2023, our gross profit was $1,090,254, compared to $1,174,196 for the same period in 2022. It's important
to note that our gross profit margins can fluctuate due to a variety of factors, such as changes in production and supply chain efficiencies,
material costs, logistics, and personnel expenses. The decrease in our gross profit for the year can be primarily attributed to the incorporation
of additional revenue from our newly formed entity, CETY HK, which operates at lower margins.

breakdown.

 For
the year ended December 31, 2023, our gross profit from HRS was $157,179 compared to $459,362 for the same period in 2022, the decrease
was due to lower revenue.

 For
the year ended December 31, 2023, our gross profit from CETY Renewables was $392,298.

 For
the year ended December 31,2023, our gross profit from CETY HK was $594,041, compared to $631,082 for the same period in 2022.

 Selling,
General and Administrative (SG&A) Expenses

 For
the year ending December 31, 2023, our Selling, General, and Administrative (SG&A) expenses amounted to $684,893, a rise from $400,322
in the corresponding period of 2022. This increase is largely due to enhanced spending across various sectors, notably in Media and Investor
Relations, marketing, sales initiatives, the transition to a new facility, the launch of two new businesses, subscription services, and
IT-related costs.

 Salaries

 For
the fiscal year concluding on December 31, 2023, our total salaries expense amounted to $1,671,071, marking a significant increase from
the previous year's total of $782,657. The escalation in expenses for 2023 can be largely ascribed to the expansion of our team,
including the hiring of a Chief Financial Officer, two directors responsible for operations and technology, four engineers, and additional
personnel within our NG trading sector.

 Travel

 For
the year concluding on December 31, 2023, our travel expenditure amounted to $405,334, in contrast to $166,025 for the corresponding
timeframe in 2022. This increase in expenses is attributed to our efforts in expanding our business in Asia, specifically concerning
the NG trading sector.

 Facility
Lease Expense

 For
the fiscal year concluding on December 31, 2023, our Facility Lease expense totaled $401,293, as opposed to $349,610 for the corresponding
period in 2022. This rise can be attributed to the addition of a new lease for our operations in China.

 Consulting

 For
the fiscal year ending December 31, 2023, our consulting expense amounted to $199,594, representing a notable increase from $119,896
recorded during the corresponding period in 2022. This rise can be attributed to the engagement of investor relations and marketing sub-contractors.

 Bad
Debt

 For
the year ended December 31, 2023, our bad debt expense was $0 compared to $0 for the same period in 2022.

 Depreciation
and Amortization Expense

 For
the year ended December 31, 2023, our depreciation and amortization expense was $26,692 compared to $30,076 for the same period in 2022.

 Professional
fees legal and accounting

 For
the fiscal year ending December 31, 2023, our Professional fees expense totaled $356,785, reflecting an uptick from $315,361 recorded
during the same period in 2022. This increase in fees was primarily driven by elevated expenses associated with engaging a new auditor.

 Net
(Loss) from operations

 For
the fiscal year ending on December 31, 2023, our net loss from operations amounted to $(2,655,408), a notable increase compared to the
net loss from operations of $989,751 for the corresponding period in 2022. This rise in loss during 2023 can be attributed primarily
to the expansion of our team, our uplisting to NASDAQ, and the expansion of our global business operations, as well as a decrease in
margin revenue from our NG business.

 Change
in Derivative Liability

 For
the year ended December 31, 2023, we had a loss on derivative liability of $326,539 compared to a gain of $331,495 for the same period
in 2022. The gain in derivative liability was from favorable derivative calculations and payoffs from several convertible notes.

 Gain
on debt settlement and write off

 For
the year ended December 31, 2023, we had no gain on debt settlement.

 Interest
and Finance Fees

 For
the year ended December 31, 2023 interest and finance fees were $2,137,649 compared to $1,125,395 for the same period in 2022. The increase
was mainly due to increase in additional convertible notes, bridge financing fees and interest, and additional a loss of 1,255,084 on
convertible conversion preferred shares.

 Liquidity
and Capital Resources

 Clean

 Condensed
Consolidated Statements of Cash Flows

 For

 2023

 2022

 Net Cash provided / (Used) In Operating Activities

 $
 (4,783,077

)

 $
 (2,244,133
)

 Cash Flows Used In Investing Activities

 (318,602
)

 (1,437,123
)

 Cash Flows Provided / (used) By Financing Activities

 5,096,483

 2,798,885

 Net (Decrease) Increase in Cash and Cash Equivalents

 $
 25,580

 $
 (1,043,043
)

 Capital
Requirements for long-term obligations

 None.

 Critical
Accounting Policies

 Our
financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles
applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
periods.

 We
regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these
policies is included in the notes to our financial statements. In general, management's estimates are based on historical experience,
on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and
circumstances. Actual results could differ from those estimates made by management.

 Revenue Recognition

 The
Company recognizes revenue under ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)," ("ASC
606").

 Performance
Obligations Satisfied Over Time

 FASB
ASC 606-10-25-27 through 25-29, 25-36 through 25-37, 55-5 through 55-10

 An
entity transfers control of a good or service over time and satisfies a performance obligation and recognizes revenue over time if one
of the following criteria is met:

 a.
The customer receives and consumes the benefits provided by the entity's performance as the entity performs (as described in FASB
ASC 606-10-55-5 through 55-6).

 b.
The entity's performance creates or enhances an asset (for example, work in process) that the customer controls as the asset is
created or enhanced (as described in FASB ASC 606-10-55-7).

 c.
The entity's performance does not create an asset with an alternative use to the entity (see FASB ASC 606-10-25-28), and the entity
has an enforceable right to payment for performance completed to date (as described in FASB ASC 606-10-25-29).

 The
following five steps are applied to achieve that core principle for our business:

 Identify
 the contract with the customer

 Identify
 the performance obligations in the contract

 Determine
 the transaction price

 Allocate
 the transaction price to the performance obligations in the contract

 Recognize
 revenue when the company satisfies a performance obligation

 Performance Obligations Satisfied at a Point in
Time

 FASB ASC 606-10-25-30

 If a performance obligation is not satisfied over
time, the performance obligation is satisfied at a point in time. To determine the point in time at which a customer obtains control of
a promised asset and the entity satisfies a performance obligation, the entity should consider the guidance on control in FASB ASC 606-10-25-23
through 25-26. In addition, it should consider indicators of the transfer of control, which include, but are not limited to, the following:

 a. The entity has a present right to payment
for the asset

 b. The customer has legal title to the
asset

 c. The entity has transferred physical
possession of the asset

 d. The customer has the significant risks
and rewards of ownership of the asset

 e. The customer has accepted the asset

 The core principle of the revenue standard is that
a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration
to which the company expects to be entitled in exchange for those goods or services. The Company only applies the five-step model to contracts
when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods and services transferred
to the customer. In addition a) the company also does not have an alternative use for the asset if the customer were to cancel the contract,
and b) has a fully enforceable right to receive payment for work performed (i.e., customers are required to pay as various milestones
and/or timeframes are met)

 The following five steps are applied to achieve that
core principle for our HRS and Cety Europe Divisions:

 Identify the contract with the customer

 Identify the performance obligations in the contract

 Determine the transaction price

 Allocate the transaction price to the performance obligations in the contract

 Recognize revenue when the company satisfies a performance obligation

 The following steps are applied to our legacy engineering
and manufacturing division:

 We generate a quotation

 We receive Purchase orders from our customers.

 We build the product to their specification

 We invoice at the time of shipment

 The terms are typically Net 30 days

 The following step is applied to our CETY HK business
unit:

 CETY HK is primarily responsible for fulfilling the contract / promise to provide the specified good or service.

 A principal obtains control over any one of the
following (ASC 606-10-55-37A):

 a.

 A good or another asset from the other party which the entity then transfers to the customer. Note that momentary control before transfer to the customer may not qualify.

 b.

 A right to a service to be performed by the other party, which gives the entity the ability to direct that party to provide the service to the customer on the entity's behalf.

 c.

 A good or service from the other party that it then combines with other goods or services in providing the specified good or service to the customer.

 If the entity obtains control
over one of the above before the good or service is transferred to a customer, the entity could be considered a principal.

 During the project development and engineering phase of our CETY Renewable projects such as VRG, we employ the
input method of revenue recognition to estimate revenue based on projected costs. This approach involves forecasting future costs
and revenues to determine the amount of revenue we recognize in the current period. It's important to understand, however, that these
recognized revenue figures are not final and are subject to adjustments. Changes may occur as we gain more clarity on actual costs compared
to our initial projections, affecting the revenue recognized accordingly.

 The projected costs of the VRG project is based on
estimates and profitability will be impacted depending on actual costs. Using the input method for revenue recognition, the amount of
recorded revenue is also affected depending on the estimated total costs. The purchase price allocation for Shuya was also based on estimates
and comparable data selected by the Company. The inputs for the valuation of the Series E preferred shares were also based on estimates
and comparable data selected by the Company.

 Additionally, the above five steps are applied to
achieve core principle for our CETY Renewables Division:

 Because the CETY Renewables division is presently
engaged in the Engineering, Procurement, and Construction (EPC) of biomass power facilities, CETY Renewables has developed a process of
executing EPC Agreements with customers for this work. In contracting these engagements, CETY Renewables recognizes revenue according
to accounting standards in accordance with ASC 606.

 In recognizing this revenue, CETY Renewables first
identifies the relevant contract with its customer according to 606-10-25-1.

 The entities, together known as the Parties, approved the contract in writing, through signatures and commitment to the performance of permitting, design, procurement, construction, and commissioning.

 CETY's work product includes permits, engineering designs, equipment, and full balance of plant specific to permitting, design, procurement, construction, and commissioning.

 CETY and customer agree to a total EPC Contract price.

 The contract has commercial substance. The risk associated with this EPC Agreement is that payment of the EPC contract price.

 Per the EPC Agreement, CETY expects to collect substantially all of the consideration for its goods and services.

 Secondly, CETY identifies the performance obligations
of the Parties in performance of the EPC Agreement in accordance with 606-10-25-14. At contract inception, CETY assesses the goods and
services necessary to deliver the facility in accordance with the its agreement with its clients. The agreement specifically laid out
all deliverables necessary to achieve the permitting, design, procurement, construction, and commissioning.

 CETY also looks at 606-10-25-14(A). A bundle of goods
or services is also present, in that CETY is delivering all work products associated with permitting, design, procurement, construction
and commissioning of a commercially operable biomass power plant. A biomass power plant is a distinct bundle of goods or services, so
the individual goods or services on their own do not lend themselves to a fully integrated or functional system.

 CETY in accordance with 606-10-32-1, CETY reviews
measurement of the performance obligations. There are no exclusion of any amount of the Contract Price due to constraints associated with
606-10-31-11 through 606-10-32-13.

 In review of 606-10-32-2A, CETY did not exclude measurement
from the measurement of the transaction price any taxes assessed by a government authority as no such taxes will be due.

 In reviewing 606-10-32-3, CETY evaluated the nature,
timing, and amount of consideration promised, and whether it impacts the estimate of the transaction price.

 Finally, in identifying a single method of
measuring progress for each performance obligation satisfied over time, in accordance with 606-10-25-32, CETY applies the
methodology of 606-10-25-36. CETY adopted and implemented the input method for revenue recognition in accordance with ASC
606-10-25-33. The company adopts the input method for implementation. CETY recognizes revenue for performance obligations on the
basis of the entity's efforts or inputs to the satisfaction of a performance obligation per 606-10-55-20.

 For CETY, the contracts with clients for the construction
of biomass power plants are the basis for revenue recognition. In each separate EPC Agreement, the performance obligations include permitting,
design, procurement, construction, and commissioning of the plant. All of these work products satisfy Section 606-10-25-27(b) as these
work products create or enhance an asset under customer's control. Upon delivery of the work product, the customer takes control
of the work products and has full right and ability to direct the use of and obtain substantially all of the remaining benefits of the
assets. We recognize revenue over time, using timeline and milestone methods to measure progress towards complete satisfaction of the
performance obligation.

 During the complexity and duration of the biomass
power plant construction projects, CETY will recognize revenue over time, consistent with the criteria for over-time recognition under
ASC 606. This approach reflects the continuous transfer of documents, permits, and the equipment over to the customer, which is characteristic
of long-term construction contracts.

 We have a list of appropriate measures of progress:
This is based on milestones achieved, among other measures.

 Given the long-term nature of the projects, CETY regularly
reviews and, if necessary, updates its estimates of progress towards completion, transaction price, and the allocation of the transaction
price to performance obligations.

 Also, from time to time our contracts state that the
customer is not obligated to pay a final payment until the units are commissioned, i.e. a final payment of 10%. As of December 31, 2023
and 2022 we had $33,000 and 33,000 of deferred revenue, which is expected to be recognized in the second quarter of year 2024.

 Also from time to time we require upfront deposits
from our customers based on the contract. As of December 31, 2023 and 2022, we had outstanding customer deposits of $210,310 and $80,475
respectively.

 Change from fair value
or equity method to consolidation

 Chengdu Xiangyueheng Enterprise Management Co., Ltd
(the "Xiangyueheng"), which owns a 10% equity interest in Shuya, entered a three-party Concerted Action Agreement (the "CAA"),
wherein the parties agreed to vote in unison at the shareholders' meeting of Shuya to consolidate the controlling position of the
three parties in Shuya. The three parties agreed that during the term of the CAA, before any of the three parties intends to propose motions
to the shareholders' meetings or the board of directors, or exercise their voting rights on any matter that shall be presented to
and resolved through the shareholders' meeting in accordance with the laws, regulations, Articles of Association of Shuya or any
relevant shareholders' agreements, the three parties will discuss, negotiate, and coordinate the motion topics for consistency;
in the event of disagreement, the opinions of JHJ shall prevail.

 As a result of the CAA, the Company re-analyzed and
determined that Shuya is the variable interest entity (the "VIE") of JHJ because 1) the equity investors at risk, as a group,
lack the characteristics of a controlling financial interest, and 2) Shuya is structured with disproportionate voting rights, and substantially
all the activities are conducted on behalf of an investor with disproportionately few voting rights. Under ASC 810, a reporting entity
has a controlling financial interest in a VIE, and must consolidate that VIE, if the reporting entity has both of the following characteristics:
(a) the power to direct the activities of the VIE that most significantly affect the VIE's economic performance; and (b) the obligation
to absorb losses, or the right to receive benefits, that could potentially be significant to the VIE. The Company concluded JHJ is deemed
the primary beneficiary of the VIE. Accordingly, the Company consolidates Shuya into its consolidated financial statements effective on
January 1, 2023.

 Series E Valuation

 Additionally, the inputs for the valuation
of the Series E preferred shares were also based on estimates and comparable data selected by the Company and fair value measurements, furthermore, the
purchase price allocation was based on estimates of fair market values.

 Future
Financing

 We
will continue to rely on equity sales of our common shares to continue to fund our business operations. Issuances of additional shares
will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities
or arrange for debt or other financing to fund planned acquisitions and exploration activities.

 Off-balance
Sheet Arrangement

 We
have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial
condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources
that are material to stockholders.

 Recently
Issued Accounting Pronouncements

 From
time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard
setting bodies that are adopted by us as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently
issued standards that are not yet effective will not have a material impact on our consolidated financial position or results of operations
upon adoption.

 Item
7a. Quantitative and Qualitative Disclosures about Market Risk.

 We
are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information
under this item.

 Item
8. Financial Statements and Supplemental Data.

 CLEAN
ENERGY TECHNOLOGIES, INC.

 CONSOLIDATED
FINANCIAL STATEMENTS

 DECEMBER
31, 2023

 FINANCIAL
STATEMENT TABLE OF CONTENTS

 Page

 Report of independent registered public accounting firm (PCAOB ID NO. 0 5854)

 Consolidated Balance Sheets as of December 31, 2023 and 2022

 Statement of Operations for the years ended December 31, 2023 and 2022

 Consolidated Statements of Stockholders Equity for the years ended December 31, 2023 and 2022

 Consolidated Statements of Cash flows for the years ended December 31, 2023 and 2022

 Footnotes to the Consolidated Financial Statements

 REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 To
the Board of Directors and

Stockholders of Clean Energy Technologies, Inc.

 Opinion
on the Financial Statements

 We
have audited the accompanying consolidated balance sheets of Clean Energy Technologies, Inc. (the Company) as of December 31, 2023, and
the related consolidated statements of operations, comprehensive income, stockholders' equity, and cash flows for the year ended
December 31, 2023, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements
present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of its operations
and its cash flows for the year ended December 31, 2023, in conformity with accounting principles generally accepted in the United States
of America.

 Going
Concern

 The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note
1 to the financial statements, the Company has an accumulated deficit, a working capital deficit and negative cash flows from operations.
These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. Management's
plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result
from the outcome of this uncertainty.

 Basis
for Opinion

 These
financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion
on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

 Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.

 Critical
Audit Matters

 The
critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated
or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial
statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters
does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit
matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

 Revenue
Recognition for Performance Obligations Satisfied Over Time

of the Critical Audit Matter: As discussed in Note 2 to the consolidated financial statements, recognizing revenue from Engineering,
Procurement, and Construction (EPC) agreement(s) is based on reasonable measures of progress toward complete satisfaction of the performance
obligation.

 How
the Critical Audit Matter Was Addressed in the Audit: The related audit effort in evaluating management's judgments in determining
revenue recognition for these agreements was extensive and required a high degree of auditor judgment.

 Our
audit procedures related to evaluating the Company's accounting for revenue recognized from these revenue agreements, among others:

 We
 reviewed the contract terms and evaluated that the agreement has commercial substance, given
 the related party nature of the transaction, and that all of the considerations have a reasonable
 probability to be substantially collected based on supporting evidence.

 We
 reviewed and verified the performance obligation(s) in the contract to be a series of distinct
 goods and services that are substantially the same and have the same pattern of transfer
 to the customer.

 We
 confirmed the transaction price with the related party and evaluated the reasonableness of
 the gross profit margin and budgeted costs allocated to the completion of the performance
 obligation.

 We
 evaluated whether billing methods were aligned with the satisfaction of performance obligations
 guidance under revenue recognition accounting principles generally accepted in the United
 States.

 We
 verified whether costs under the input method directly contributed to the completion of the
 performance obligation based on audit evidence.

 We
 tested the accuracy and completeness of management's calculations based on supporting
 data and audit evidence.

Combination of Shuya and Change in Equity Method to Consolidation in 2023

of the Critical Audit Matter: As described in Note 2, effective January 1, 2023 the Company re-analyzed and determined that Shuya is
the variable interest entity of JHJ as a result of Consistent Action Agreements so we begin to consolidate Shuya on January 1, 2023 and
change from equity method in 2022 to consolidation in 2023.

 How
the Critical Audit Matter Was Addressed in the Audit: We identified the Company's enterprise value and consideration paid as a
critical audit matter because of the significant estimates and assumptions management used in the estimate of the acquisition date fair
value, including forecasts of future revenues and expenses and the selection of the discount rates. Auditing management's forecasts of
future revenues and expenses as well as the selection of the discount rates involved a high degree of auditor judgment and increased
audit effort, including the use of our valuation specialists, as changes in these assumptions could have a significant impact on the
value of the purchase consideration.

 Our
audit procedures consisted of the following, among others:

 We
 read the Consistent Action Agreements to understand and evaluate the terms of the transaction
 to determine that the acquisition met the requirements of a business combination and change
 from equity method to consolidation in 2023.

 We
 evaluated the analysis of the initial allocation of the purchase price accounting as well
 as the determination of the balance sheet classification of each component of the transaction.

 We
 obtained the Company's third-party expert valuation report to gain an understanding of the
 processes and key assumptions for estimating the fair value of inventories and other acquired
 assets and liabilities and enterprise value.

 We
 utilized our valuation specialists to evaluate the adequacy and appropriateness of the methodologies
 and assumptions, including the weighted-average cost of capital and the discount rate, used
 by the Company's third-party valuation expert in developing the estimated fair value of the
 inventories and other acquired assets and liabilities and the enterprise value.

 We
 assessed the reasonableness of management's cash flow forecasts based on historical results,
 revenue growth assumptions and expected inflation.

 We
 performed independent calculations to test the reasonableness and mathematical accuracy of
 the fair values concluded by the Company.

 We
 evaluated the qualifications of the Company's third-party valuation expert based on credentials,
 reputation and experience.

 We
 assessed the appropriateness of the disclosures in the consolidated financial statements.

 Valuation
of Preferred Shares

of the Critical Audit Matter: As described further in Notes 12 to the financial statements, the Company determined that the Series E
preferred shares issued on November 8, 2023 to distinguished for the outstanding balances and accrued interest of six promissory notes
has to be fair value. The Company utilized an equity allocation method to determine the fair value of the Series E preferred shares,
which uses certain assumptions related to expected terminal date, expected volatility, implied equity value, risk-free interest rate,
etc.

 How
the Critical Audit Matter was Addressed in the Audit: We determined the assessment of the fair values of the Series E preferred shares
as a critical audit matter due to the significant judgements used by the Company in determining the fair value of the Series E preferred
shares. Auditing the valuation of the Series E preferred shares involved a high degree of auditor judgement and specialized skills and
knowledge were needed.

 Our
audit procedures consisted of the following, among others:

 We
 read the debt exchange agreement to understand and evaluate the terms of the transaction
 to determine that the number of Series E preferred shares issued and the total debt settled
 and recalculate the loss in extinguishment of debt based on the fair value of Series E preferred
 shares issued in 2023.

 We
 obtained the Company's third-party expert valuation report to gain an understanding of the
 processes and key assumptions for estimating the fair value of Series E preferred shares.

 We
 utilized our valuation specialists to evaluate the adequacy and appropriateness of the methodologies
 and assumptions used by the Company's third-party valuation expert in developing the estimated
 fair value of Series E preferred shares.

 TAAD, LLP

 We have served as the Company's auditor since 2023.

 Diamond Bar, California

 April 16, 2024

 REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 To
the Board of Directors and Shareholders of Clean Energy Technologies, Inc.

 Opinion
on the Financial Statements

 We
have audited the accompanying consolidated balance sheet of Clean Energy Technologies, Inc. and Subsidiaries ("the Company")
as of December 31, 2022, and the related consolidated statements of operations, stockholders equity, and cash flows for each of the year
ended December 31, 2022, and the related notes (collectively referred to as the financial statements). In our opinion, the financial
statements present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and the results of
its operations and its cash flows for the year ended December 31, 2022, in conformity with accounting principles generally accepted in
the United States of America.

 Going
Concern

 The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note
1 to the financial statements, the Company has an accumulated deficit, a working capital deficit and negative cash flows from operations.
These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. Management's
plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result
from the outcome of this uncertainty.

 Basis
for Opinion

 These
financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's
financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 We
conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit,
we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion
on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

 Our
audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or
fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides
a reasonable basis for our opinion.

 Critical
Audit Matters

 The
critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated
or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial
statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters
does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit
matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

 Revenue
Recognition

of the Critical Audit Matter

 As
discussed in Note 2 to the consolidated financial statements, revenue from contracts is recognized in the period during which the performance
obligations are satisfied, provided that the applicable conditions under the related contracts have been met.

 The
related audit effort in evaluating management's judgments in determining revenue recognition for these agreements was extensive
and required a high degree of auditor judgment.

 How
the Critical Audit Matter Was Addressed in the Audit

 Our
audit procedures related to evaluating the Company's accounting for revenue recognized from these revenue agreements, among others:

 Analyzing the
 pattern of delivery (i.e., timing of when revenue is recognized) for each distinct performance obligation.

 Reviewing the treatment
 of contract terms that impact the timing and amount of revenue recognized.

 Evaluating the transactions
 prices allocated to each performance obligation.

 Testing the accuracy and
 completeness of management's calculations based on supporting data and audit evidence.

 We
served as the Company's auditor from 2015 to 2023.

 Spokane,
Washington

 April
17, 2023

 Clean

Balance Sheets

 Assets

 Current Assets:

 Cash

 $
 174,851

 $
 149,272

 Accounts receivable - net

 1,267,130

 1,368,567

 Accounts receivable – related party

 491,774

 -

 Accounts receivable

 491,774

 -

 Lease receivable asset

 -

 217,584

 Advance to Supplier - Prepayment

 1,366,187

 597,816

 Advance to Supplier – related party

 463,621

 -

 Advance to Supplier

 463,621

 -

 Deferred Offering Costs

 11,000

 204,556

 Investment Heze Hongyuan Natural Gas co.

 762,273

 835,756

 Due from related party

 752,066

 -

 Loan Receivables

 200,826

 116,000

 Investment to Guangyuan Shuxin New Energy Co.

 286,106

 -

 286,106

 -

 Inventory

 974,894

 500,586

 Total Current Assets

 6,750,728

 3,990,136

 Property and Equipment - Net

 78,688

 14,816

 Goodwill

 747,976

 747,976

 LWL Intangibles

 1,468,709

 1,468,709

 Intangible Assets Net Shuya

 12,914

 -

 Long Term Investment - Shuya

 -

 561,656

 Long-term financing receivables - net

 902,354

 684,770

 License

 354,322

 354,322

 Patents

 91,817

 103,693

 Right of use asset - long term

 453,970

 157,359

 Other Assets

 67,133

 30,892

 Total Non Current assets

 4,177,883

 4,109,377

 Total Assets

 $
 10,928,611

 $
 8,114,329

 Liabilities and Stockholders' Equity

 Current Liabilities:

 Accounts payable

 $
 548,038

 $
 860,434

 Accounts payable – related party

 416,007

 -

 Accounts payable

 416,007

 -

 Accrued Expenses

 586,372

 119,030

 Customer Deposits

 210,310

 80,475

 Warranty Liability

 100,000

 100,000

 Deferred Revenue

 33,000

 33,000

 Derivative Liability

 -

 588,178

 Facility Lease Liability - current

 346,807

 186,436

 Line of Credit

 626,033

 998,820

 Convertible Notes Payable (net of discount of $ 70,056 and $ 326,805 respectively)

 1,934,956

 3,092,055

 Related Party Notes Payable

 -

 177,704

 Notes Payable

 -

 177,704

 Total Current Liabilities

 4,801,523

 6,236,132

 Long-Term Debt:

 Facility Lease Liability - long term

 209,986

 -

 Accrued Dividend

 47,904

 -

 Net Long-Term Debt

 257,890

 Total Liabilities

 5,059,413

 6,236,132

 Stockholders' Equity

 Common stock, $.001 par value; 2,000,000,000 shares authorized; 39,152,455 and 37,174,879 shares issued and outstanding as of December 31, 2023 and December 31, 2022 respectively

 39,152

 37,175

 15% Series E Convertible preferred stock, $.001
 par value; 3,500,000
 shares authorized; 2,199,387
 shares issued and outstanding and
 0 shares issued and outstanding as of December 31, 2023 and 2022

 2,199

 -

 Preferred stock, value

 2,199

 -

 Additional paid-in capital

 28,251,621

 19,278,230

 Accumulated Other Comprehensible Income

 ( 196,827
)

)

 Accumulated deficit

 ( 22,984,163
)

 ( 17,276,536
)

 Total Stockholders' Equity attributable to Clean Energy Technologies, Inc.

 5,111,982

 1,878,196

 Non-controlling interest

 757,216

 -

 Total Stockholders' Equity

 5,869,198

 1,878,196

 Total Liabilities and Stockholders' Equity

 $
 10,928,611

 $
 8,114,328

 The
accompanying footnotes are an integral part of these financial statements

 Clean

Statements of Operations

 for

 2023

 2022

 Sales

 $
 14,702,977

 $
 2,663,212

 Sales -related party

 410,486

 -

 Total revenue

 15,113,463

 2,663,212

 Cost of Goods Sold

 14,023,209

 1,489,016

 Gross Profit

 1,090,254

 1,174,196

 General and Administrative

 General and Administrative expense

 684,893

 400,322

 Salaries

 1,671,071

 782,657

 Travel

 405,334

 166,025

 Professional Fees

 356,785

 315,361

 Facility lease and Maintenance

 401,293

 349,610

 Consulting

 199,594

 119,896

 Bad Debt Expense

 -

 -

 Depreciation and Amortization

 26,692

 30,076

 Total Expenses

 3,745,662

 2,163,947

 Net Loss from Operations

 ( 2,655,408
)

 ( 989,751
)

 Other Income

 81,583

 55,403

 Change in derivative liability

 326,539

 ( 331,495
)

 Gain / (Loss) on debt settlement and write down

 ( 1,124,654
)

 2,556,916

 Interest and Financing fees

 ( 2,137,649
)

 ( 1,125,395
)

 Net Profit / (Loss) Before Income Taxes

 ( 5,509,589
)

 165,678

 Income Tax Expense

 ( 22,173
)

 ( 18,283
)

 Net Profit / (Loss)

 ( 5,531,762
)

 147,395

 Net loss attributable to non-controlling interest

 127,961

 -

 Net Profit / (Loss) attributable to Clean Energy Technologies, Inc.

 ( 5,659,723
)

 147,395

 Accumulative other comprehensive income

 -

 Foreign Currency Translation Loss

 $
 ( 36,155
)

)

 Total Comprehensible Loss

 $
 ( 5,695,878
)

 $
 ( 13,278
)

 Per Share Information:

 Basic and diluted weighted average number of common shares outstanding

 38,447,916

 27,681,722

 Net Profit / (Loss) per common share basic and diluted

 $
 ( 0.14
)

 $
 0.00

 The
accompanying footnotes are an integral part of these financial statements

 Clean

Statements of Stockholders Equity

31, 2023 And 2022

 Capital

 Deficit

 Interest

 Totals

 Stock.001 Par

 Preferred
 Stock

 Stock to be issued

 Additional
 Paid in

 Accumulated
 Comprehensive

 Accumulated

 Non
 Controlling

 Stock
 holders' Deficit

 Capital

 Deficit

 Interest

 Totals

 31, 2021

 23,589,229

 $

 23,589

 -

 -

 -

 $

 15,697,688

 -

 $

 ( 17,423,931

)

 $

 ( 19,059

)

 $

 ( 1,721,712

)

 issued for warrant conversion

 -

 -

 -

 -

 -

 471,278

 -

 -

 -

 471,278

 issued for Reg A offering

 375,875

 -

 -

 -

 1,202,424

 -

 -

 -

 1,202,800

 issued for MGW note conversion

 12,907,534

 12,908

 -

 -

 -

 1,535,996

 -

 -

 1,548,904

 for Mast conversion

 100,446

 -

 -

 -

 ( 100

)

 -

 -

 -

 issued for S1

 201,795

 -

 -

 -

 290,943

 -

 291,145

 Contribution
 to capital

 -

 -

 -

 -

 80,000

 -

 -

 -

 80,000

 Accumulative
 comprehensive

 -

 -

 -

 -

 -

)

)

 Net
 Loss

 -

 -

 -

 -

 -

 -

 -

 147,395

 19,059

 166,454

 31, 2022

 37,174,879

 37,175

 -

 -

 -

 19,278,229

)

 ( 17,276,536

)

 -

 1,878,196

 Beginning
 balance

 37,174,879

 37,175

 -

 -

 -

 19,278,229

)

 ( 17,276,536

)

 -

 1,878,196

)

 Warrants issued in conjunction for debt

 -

 -

 -

 -

 609,619

 -

 -

 609,619

 Warrants issued for services

 -

 -

 -

 -

 76,100

 -

 -

 76,100

 Shares issued for S-1 Registration

 975,000

 -

 -

 -

 3,899,025

 -

 -

 3,900,000

 Offering cost

 ( 805,445
)

 ( 805,445
)

 Shares issued for rounding

 3,745

 -

 -

 -

 ( 4
)

 -

 -

 -

 Shares for Pacific Pier and Firstfire conversion

 64,225

 -

 -

 -

 ( 68
)

 -

 -

 ( 4
)

 Shares issued for Debt Conversion

 277,604

 -

 -

 -

 665,972

 -

 -

 666,250

 Accumulated Comprehensive

 -

 -

 -

 -

 ( 36,155
)

 -

 ( 21,696
)

 ( 57,850
)

 Fair value of NCI from acquisition of Shuya

 650,951

 650,951

 Shares issued for warrant conversion

 617,002

 986,586

 987,203

 Reclassification of derivative liabilities due to note repayment

 261,639

 261,639

 Shares based compensation

 40,000

 71,960

 72,000

 Shares issued for Series E preferred

 2,199,387

 2,199

 3,208,007

 3,210,206

 Series E preferred dividend

 ( 47,904
)

 ( 47,904
)

 Net Loss

 -

 ( 5,659,723
)

 127,961

 ( 5,531,762
)

 39,152,455

 39,152

 2,199,387

 2,199

 -

 28,251,621

 ( 196,827
)

 ( 22,984,163
)

 757,216

 5,869,198

 Ending
 balance

 39,152,455

 39,152

 2,199,387

 2,199

 -

 28,251,621

 ( 196,827
)

 ( 22,984,163
)

 757,216

 5,869,198

 The
accompanying footnotes are an integral part of these financial statements

 Clean

Statements of Cash Flows

 for

 2023

 2022

 Cash
 Flows from Operating Activities:

 Net
 Income / ( Loss)

 $

 ( 5,659,723

)

 $

 147,395

 Adjustments
 to reconcile net loss to net cash used in operating activities:

 Depreciation
 and amortization

 32,850

 30,076

 Stock compensation expense

 148,100

 -

 Loss (gain) on debt settlement

 1,124,654

 ( 2,556,916

)

 Amortization
 of debt discount

 846,682

 350,470

 Attributable
 loss per equity method - Shuya

 -

 5,467

 Financing
 Fees

 -

 416,014

 Deferred
 offering expense

 -

 ( 204,556

)

 Change
 in derivative liability

 ( 326,539

)

 331,495

 Changes
 in assets and liabilities:

 (Increase)
 decrease in right of use asset

 ( 297,201

)

 238,248

 (Increase)
 decrease in lease liability

 371,240

 ( 234,816

)

 (Increase)
 decrease in accounts receivable

 152,277

 ( 675,535

)

 (Increase) decrease in accounts receivable – related party

 ( 534,651

)

 -

 (Increase) decrease interest receivable

 -

 ( 81,756

)

 (Increase) decrease
 in prepayments

 ( 435,417

)

 ( 557,436

)

 (Increase) decrease in other assets

 543,036

 ( 4,091

)

 (Increase)
 decrease in inventory

 183,368

 ( 38,394

)

 (Decrease)
 increase in accounts payable

 ( 561,597

)

 312,460

 (Decrease) increase in accrued interest

 26,771

 155,162

 Other
 (Decrease) increase in accrued expenses

 185,474

 ( 24,817

)

 Other
 (Decrease) increase in other payables - related party

 ( 709,751

)

 90,962

 Other
 (Decrease) increase in accrued expenses

 ( 709,751

)

 90,962

 Other
 (Decrease) increase in customer deposits

 127,350

 56,435

 Net
 Cash Used In Operating Activities

 ( 4,783,077

)

 ( 2,244,133

)

 Cash
 Flows from Investing Activities

 Cash
 acquired from consolidation Shuya

 49,147

 -

 to Guangyuan Shuxin New Energy Co.

 ( 286,918

)

 -

 Purchase of intangible assets

 ( 3,776

)

 -

 Purchase of fixed assets

 ( 77,055

)

 -

 in Heze Hongyuan

 -

 ( 754,000

)

 Loan
 receivables

 -

 ( 116,000

)

 in Shuya

 -

 ( 567,123

)

 ( 567,123

)

 Cash
 Flows Used In Investing Activities

 ( 318,602)

 ( 1,437,123

)

 Cash
 Flows from Financing Activities

 Payment
 on notes payable - related party

 -

 ( 68,207

)

 Proceeds
 from notes payable and lines of credit

 2,605,539

 2,180,460

 Proceeds from warrants exercised

 987,204

 -

 Loan receivables

 84,720

 -

 Payments
 on notes payable and line of credit

 ( 1,675,535

)

 ( 807,312

)

 Stock
 issued for cash

 3,094,555

 1,493,945

 Cash
 Flows Provided By Financing Activities

 5,096,483

 2,798,885

 Foreign
 Currency Transaction

 30,776

)

 Net
 (Decrease) Increase in Cash and Cash Equivalents

 25,580

 ( 1,043,043

)

 Cash
 and Cash Equivalents at Beginning of Period

 149,272

 1,192,315

 Cash
 and Cash Equivalents at End of Period

 $

 174,851

 $

 149,272

 Supplemental
 Cashflow Information:

 Interest
 Paid

 $

 257,149

 $

 671,510

 Taxes
 Paid

 $

 -

 $

 -

 Supplemental
 Non-Cash Disclosure

 Discount on new notes

 $

 239,800

 $

 471,278

 Shares issued for warrants

 $

 261,639

 $

 -

 Shares issued for preferred conversions

 $

 3,210,206

 $

 -

 Shares issued for debt conversions

 $

 666,250

 $

 1,548,904

 Warrants issued in conjunction for convertible notes payable

 $

 609,619

 $

 -

 Forgiveness
 debt

 $

 -

 $

 80,000

 The
accompanying footnotes are an integral part of these financial statements

 Clean

 Notes
to Consolidated Financial Statements

 NOTE
1 – GENERAL

 Corporate
History

 We
were incorporated in California in July 1995 under the name Probe Manufacturing Industries, Inc. We redomiciled to Nevada in April 2005
under the name Probe Manufacturing, Inc. We manufactured electronics and provided services to original equipment manufacturers (OEMs)
of industrial, automotive, semiconductor, medical, communication, military, and high technology products. On September 11, 2015, Clean
Energy HRS, or "CE HRS", our wholly owned subsidiary acquired the assets of Heat Recovery Solutions from General Electric
International. In November 2015, we changed our name to Clean Energy Technologies, Inc.

 Our
principal executive offices are located at 1340 Reynolds Avenue Unit 120, Irvine, California 92614. Our telephone number is (949) 273-4990.
Our common stock is listed on the OTCQB Markets under the symbol "CETY."

 Our
internet website address is www.cetyinc.com. The information contained on our websites are not incorporated by reference into
this document, and you should not consider any information contained on, or that can be accessed through, our website as part of this
document.

 The
Company has four reportable segments: Clean Energy HRS (HRS) and CETY Europe, CETY Renewables waste to energy business unit, the Engineering
and Manufacturing services division and CETY Hong Kong.

 Going
Concern

 The
financial statements have been prepared on a going concern basis, which contemplates continuity of operations, realization of assets
and liquidation of liabilities in the normal course of business. The Company had a total stockholder's equity of $ 5,869,198 and
a working capital deficit of $ 1,949,206 and an accumulated deficit of $ 22,984,163 as of December 31, 2023 and used $ 4,783,077 in net cash
from operating activities for the year ended December 31, 2023. CETY has a clear strategy in place and has the capability to successfully
restructure its existing debt and secure additional financing. With its current strategic approach and diversification of its products
and solutions, the management has created a favorable environment for the company to transition towards profitability.

 Plan
of Operation

 Our
mission is to be a leader in the zero-emission revolution by providing eco-friendly energy solutions, clean energy fuels, and alternative
electric power for small to mid-sized projects across North America, Europe, and Asia. The company harnesses the power of heat and biomass
to produce electricity with zero emissions and minimal cost. Additionally, the company offers Waste to Energy Solutions, converting waste
materials from manufacturing, agriculture, and wastewater treatment plants into electricity and biochar. Clean Energy Technologies also
provides engineering, consulting, and project management solutions, leveraging its expertise to develop clean energy projects for both
municipal and industrial customers, as well as Engineering, Procurement, and Construction (EPC) companies.

 Our
principal businesses

 Heat
Recovery Solutions – Clean Energy Technologies patented frictionless, lubricant and maintenance free magnetic bearing turbine
Clean Cycle Generator (CCG) is a heat recovery system that captures waste heat from various sources and converts it into electricity.
This system can be integrated into various industrial processes, helping to reduce energy costs and carbon emissions.

 Waste
to Energy Solutions – Clean Energy Technologies' waste to energy solutions involve decomposing organic waste materials,
such as agricultural waste and food waste at high temperatures into clean energy through its proprietary gasification technology that
produce a range of products, including electricity, heat, and biochar.

 Engineering,
Consulting and Project Management Solutions – Clean Energy Technologies offers engineering
and manufacturing services to help clients bring their sustainable energy products to market. This includes design, prototyping, testing,
and production services. Clean Energy Technologies' expertise in engineering and manufacturing enables it to provide customized
solutions to meet clients' specific needs.

 CETY
HK

 Clean
Energy Technologies (H.K.) Limited ("CETY HK") consists of two business ventures in mainland China:(i) our natural gas ("NG")
trading operations sourcing and suppling NG to industries and municipalities. NG is principally used for heavy truck refueling stations
and urban or industrial users. We purchase large quantities of NG from large wholesale NG depots at fixed prices which are prepaid for
in advance at a discount to market. We sell the NG to our customers at prevailing daily spot prices for the duration of the contracts;
and (ii) our planned joint venture with a large state-owned gas enterprise in China called Shenzhen Gas (Hong Kong) International Co.
Ltd. ("Shenzhen Gas"),, acquiring natural gas pipeline operator facilities, primarily located in the southwestern part of
Sichuan Province and portions of Yunnan Province. Our planned joint venture with Shenzhen Gas plans to acquire, with financing from Shenzhen
Gas, natural gas pipeline operator facilities with the goal of aggregating and selling the facilities to Shenzhen Gas in the future.
According to our Framework Agreement with Shenzhen Gas, we will be required to contribute $ 8 million to the joint venture. The terms
of the joint venture are subject to the execution of definitive agreements.

 NOTE
2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

 A
summary of significant accounting policies of Clean Energy Technologies, Inc. (formerly Probe Manufacturing, Inc.) is presented to assist
in the understanding of the Company's financial statements. The financial statements and notes are representations of the Company's
management, who is responsible for their integrity and objectivity.

 The
consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in
the United States of America ("US GAAP") and include the accounts of the Company and its wholly-owned subsidiaries. All material
intercompany balances and transactions have been eliminated in consolidation.

 Estimates

 The
preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Such
estimates may be materially different from actual financial results. Significant estimates include the recoverability of long-lived assets,
the collection of accounts receivable and valuation of inventory and reserves.

 Cash
and Cash Equivalents

 We
maintain most of our cash accounts at a commercial bank. The total cash balance is insured by the Federal Deposit Insurance Corporation
("FDIC") up to $ 250,000, (which we may exceed from time to time) per commercial bank. For the purposes of the statement of
cash flows we consider all cash and highly liquid investments with initial maturities of one year or less to be cash equivalents.

 Accounts
Receivable

 Our
ability to collect receivables is affected by economic fluctuations in the geographic areas and industries served by us. Reserves for
uncollectable amounts are provided, based on past experience and a specific analysis of the accounts. Although we expect to collect amounts
due, actual collections may differ from the estimated amounts. As of December 31, 2023, and December 31, 2022, we had a reserve for potentially
un-collectable accounts receivable of $ 95,000 and $ 95,000. Our policy for reserves for our long-term financing receivables is determined
on a contract-by-contract basis and considers the length of the financing arrangement. As of December 31, 2023, and December 31, 2022,
we had a reserve for potentially un-collectable long-term financing receivables of $ 247,500 and $ 247,500 respectively.

 Seven
(7) customers accounted for approximately 98 % of accounts receivable on December 31, 2023. Our trade accounts primarily represent unsecured
receivables. Historically, our bad debt write-offs related to these trade accounts have been insignificant. Four (4) customers accounted
for approximately 98 % of accounts receivable on December 31, 2023. Our trade accounts primarily represent unsecured receivables.

 Inventory

 Inventories
are valued at the lower of weighted average cost or market value. Our industry experiences changes in technology, changes in market value
and availability of raw materials, as well as changing customer demand. We make provisions for estimated excess and obsolete inventories
based on regular audits and cycle counts of our on-hand inventory levels and forecasted customer demands and at times additional provisions
are made. Any inventory write offs are charged to the reserve account. As of December 31, 2023 we had a reserve of $ 934,344 vs. reserve
of $ 897,808 as of December, 2022.

 Property
and Equipment

 Property
and equipment are recorded at cost. Assets held under capital leases are recorded at lease inception at the lower of the present value
of the minimum lease payments or the fair market value of the related assets. The cost of ordinary maintenance and repairs is charged
to operations. Depreciation and amortization are computed on the straight-line method over the following estimated useful lives of the
related assets:

OF ESTIMATED USEFUL LIVES

 Furniture
and fixtures 3 to 5 years

 Equipment
 5 to 10 years

 Long
– Lived Assets

 Long-lived
assets, which include property, plant and equipment and intangible assets with finite lives, and operating lease right-of-use assets,
are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.

 Recoverability
of long-lived assets to be held and used is measured by comparing the carrying amount of an asset to the estimated undiscounted future
cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows,
an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair
value is generally determined using the asset's expected future discounted cash flows or market value, if readily determinable.

 The
Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the asset's carrying
amount may not be recoverable. The Company conducts its long-lived asset impairment analyses in accordance with ASC 360-10-15, "Impairment
or Disposal of Long-Lived Assets." ASC 360-10-15 requires the Company to group assets and liabilities at the lowest level for which
identifiable cash flows are largely independent of the cash flows of other assets and liabilities and evaluate the asset group against
the sum of the undiscounted future cash flows. If the undiscounted cash flows do not indicate the carrying amount of the asset is recoverable,
an impairment charge is measured as the amount by which the carrying amount of the asset group asset group exceeds its fair value based
on discounted cash flow analysis or appraisals. There was no impairment of long-lived assets for the periods ended December 31, 2023
and 2022.

 Revenue
Recognition

 The
Company recognizes revenue under ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)," ("ASC
606").

 Performance
Obligations Satisfied Over Time

 FASB
ASC 606-10-25-27 through 25-29, 25-36 through 25-37, 55-5 through 55-10

 An
entity transfers control of a good or service over time and satisfies a performance obligation and recognizes revenue over time if one
of the following criteria is met:

 a.
The customer receives and consumes the benefits provided by the entity's performance as the entity performs (as described in FASB
ASC 606-10-55-5 through 55-6).

 b.
The entity's performance creates or enhances an asset (for example, work in process) that the customer controls as the asset is
created or enhanced (as described in FASB ASC 606-10-55-7).

 c.
The entity's performance does not create an asset with an alternative use to the entity (see FASB ASC 606-10-25-28), and the entity
has an enforceable right to payment for performance completed to date (as described in FASB ASC 606-10-25-29).

 Performance
Obligations Satisfied at a Point in Time

 FASB
ASC 606-10-25-30

 If
a performance obligation is not satisfied over time, the performance obligation is satisfied at a point in time. To determine the point
in time at which a customer obtains control of a promised asset and the entity satisfies a performance obligation, the entity should
consider the guidance on control in FASB ASC 606-10-25-23 through 25-26. In addition, it should consider indicators of the transfer of
control, which include, but are not limited to, the following:

 a.
The entity has a present right to payment for the asset

 b.
The customer has legal title to the asset

 c.
The entity has transferred physical possession of the asset

 d.
The customer has the significant risks and rewards of ownership of the asset

 e.
The customer has accepted the asset

 The
core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services
to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or
services. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration
it is entitled to in exchange for the goods and services transferred to the customer. In addition, a) the company also does not have an
alternative use for the asset if the customer were to cancel the contract, and b) has a fully enforceable right to receive payment for
work performed (i.e., customers are required to pay as various milestones and/or timeframes are met)

 The
following five steps are applied to achieve that core principle for our HRS and Cety Europe Divisions:

 Identify
 the contract with the customer

 Identify
 the performance obligations in the contract

 Determine
 the transaction price

 Allocate
 the transaction price to the performance obligations in the contract

 Recognize
 revenue when the company satisfies a performance obligation

 The
following steps are applied to our legacy engineering and manufacturing division:

 We
 generate a quotation

 We
 receive Purchase orders from our customers.

 We
 build the product to their specification

 We
 invoice at the time of shipment

 The
 terms are typically Net 30 days

 The
following step is applied to our CETY HK business unit:

 CETY
 HK is primarily responsible for fulfilling the contract / promise to provide the specified good or service.

 A
principal obtains control over any one of the following (ASC 606-10-55-37A):

 a.

 A
 good or another asset from the other party which the entity then transfers to the customer. Note that momentary control before transfer
 to the customer may not qualify.

 b.

 A
 right to a service to be performed by the other party, which gives the entity the ability to direct that party to provide the service
 to the customer on the entity's behalf.

 c.

 A
 good or service from the other party that it then combines with other goods or services in providing the specified good or service
 to the customer.

 If
the entity obtains control over one of the above before the good or service is transferred to a customer, the entity could be considered
a principal.

 Additionally,
the above five steps are applied to achieve core principle for our CETY Renewables Division:

 Because
the CETY Renewables division is presently engaged in the Engineering, Procurement, and Construction (EPC) of biomass power facilities,
CETY Renewables has developed a process of executing EPC Agreements with customers for this work. In contracting these engagements, CETY
Renewables recognizes revenue according to accounting standards in accordance with ASC 606.

 In
recognizing this revenue, CETY Renewables first identifies the relevant contract with its customer according to
606-10-25-1.

 The entities, together known as the Parties, approved the contract
in writing, through signatures and commitment to the performance of permitting, design, procurement, construction, and commissioning.

 CETY's work product includes permits, engineering designs,
equipment, and full balance of plant specific to permitting, design, procurement, construction, and commissioning.

 CETY and customer agree to a total EPC Contract price.

 The contract has commercial substance. The risk associated with this EPC Agreement is that payment of the EPC contract price.

 Per the EPC Agreement, CETY expects to collect substantially all of the consideration for its goods and services.

 Secondly,
CETY identifies the performance obligations of the Parties in performance of the EPC Agreement in accordance with 606-10-25-14. At contract
inception, CETY assesses the goods and services necessary to deliver the facility in accordance with its agreement with clients.
The agreement specifically laid out all deliverables necessary to achieve the permitting, design, procurement, construction, and
commissioning.

 CETY
also looks at 606-10-25-14(A). A bundle of goods or services is also present, in that CETY is delivering all work products
associated with permitting, design, procurement, construction and commissioning of a commercially operable biomass power plant. A
biomass power plant is a distinct bundle of goods or services, so the individual goods or services on their own do not lend
themselves to a fully integrated or functional system.

 CETY
in accordance with 606-10-32-1, CETY reviews measurement of the performance obligations. There is no exclusion of any amount of
the Contract Price due to constraints associated with 606-10-31-11 through 606-10-32-13.

 In
review of 606-10-32-2A, CETY did not exclude measurement from the measurement of the transaction price any taxes assessed by a government
authority as no such taxes will be due.

 In
reviewing 606-10-32-3, CETY evaluated the nature, timing, and amount of consideration promised, and whether it impacts the estimate of
the transaction price.

 Finally,
in identifying a single method of measuring progress for each performance obligation satisfied over time, in accordance with
606-10-25-32, CETY applies the methodology of 606-10-25-36. CETY adopted and implemented the input method for revenue recognition in accordance with ASC 606-10-25-33. The company adopts the input method for implementation. CETY recognizes revenue for performance obligations on the basis of the entity's efforts or inputs to the satisfaction of a
performance obligation per 606-10-55-20.

 For
CETY, the contracts with clients for the construction of biomass power plants are the basis for revenue recognition. In each separate
EPC Agreement, the performance obligations include permitting, design, procurement, construction, and commissioning of the plant.
All of these work products satisfy Section 606-10-25-27(b) as these work products create or enhance an asset under customer's
control. Upon delivery of the work product, the customer takes control of the work products and has full right and ability to direct
the use of and obtain substantially all of the remaining benefits of the assets. We recognize revenue over time, using timeline and
milestone methods to measure progress towards complete satisfaction of the performance obligation.

 During
the complexity and duration of the biomass power plant construction projects, CETY will recognize revenue over time, consistent with
the criteria for over-time recognition under ASC 606. This approach reflects the continuous transfer of documents, permits, and the equipment
over to the customer, which is characteristic of long-term construction contracts.

 We
have a list of appropriate measures of progress: This is based on milestones achieved, among other measures.

 Given
the long-term nature of the projects, CETY regularly reviews and, if necessary, updates its estimates of progress towards completion,
transaction price, and the allocation of the transaction price to performance obligations.

 Also,
from time to time our contracts state that the customer is not obligated to pay a final payment until the units are commissioned, i.e.
a final payment of 10 %. As of December 31, 2023 and 2022 we had $ 33,000 and 33,000 of deferred revenue, which is expected to be recognized
in the second quarter of year 2024.

 Also
from time to time we require upfront deposits from our customers based on the contract. As of December 31, 2023 and 2022, we had outstanding
customer deposits of $ 210,310 and $ 80,475 respectively.

 Fair
Value of Financial instruments

 The
Financial Accounting Standards Board issued ASC (Accounting Standards Codification) 820-10 (SFAS No. 157), "Fair Value Measurements
and Disclosures" for financial assets and liabilities. ASC 820-10 provides a framework for measuring fair value and requires expanded
disclosures regarding fair value measurements. FASB ASC 820-10 defines fair value as the price that would be received for an asset or
the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between
market participants on the measurement date. FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize
the use of observable inputs, where available. The following summarizes the three levels of inputs required by the standard that the
Company uses to measure fair value:

 Level
 1: Quoted prices in active markets for identical assets or liabilities.

 Level
 2: Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets
 that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full
 term of the related assets or liabilities.

 Level
 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets
 or liabilities. The Company's derivative liabilities have been valued as Level 3 instruments. We value the derivative liability
 using a lattice model, with a volatility of 56 % and using a risk free interest rate of 0.15 %

 The Company's financial instruments consist of cash, prepaid expenses,
inventory, accounts payable, accrued expenses, and convertible notes payable. The estimated fair value of cash, prepaid expenses, investments,
accounts payable, accrued expenses and convertible notes payable approximate their carrying amounts due to the short-term nature of these
instruments.

 Foreign
Currency Translation and Comprehensive Income (Loss)

 We
have no material components of other comprehensive income (loss) and accordingly, net loss is equal to comprehensive loss in all periods.
 The accounts of the Company's Chinese entities are maintained in RMB. The accounts of the
Chinese entities were translated into USD in accordance with FASB ASC Topic 830 "Foreign Currency Matters." All assets and
liabilities were translated at the exchange rate on the balance sheet date; stockholders' equity is translated at historical rates
and the statements of operations and cash flows are translated at the weighted average exchange rate for the period. The resulting translation
adjustments are reported under other comprehensive income (loss) in accordance with FASB ASC Topic 220, "Comprehensive Income."
Gains and losses resulting from foreign currency transactions are reflected in the statements of operations.

 The
Company follows FASB ASC Topic 220-10, "Comprehensive Income (loss)." Comprehensive income (loss) comprises net income (loss)
and all changes to the statements of changes in stockholders' equity, except those due to investments by stockholders, changes
in additional paid-in capital and distributions to stockholders.

 Change
from fair value or equity method to consolidation.

 In
July 2022, JHJ, a wholly owned subsidiary of CETY HK and other three shareholders agreed to form and make total capital contribution
of RMB 20 million ($ 2.81 million) with latest contribution due date in February 2066 into Sichuan Hongzuo Shuya Energy Limited ("Shuya"),
JHK owns 20 % of Shuya. In August 2022, JHJ purchased 100 % ownership of Sichuan Shunengwei Energy Technology Limited ("SSET")
for $ 0, who owns 29 % of Shuya; Shunengwei is a holding company and did not have any operations nor made any capital contribution into
Shuya as of the ownership purchase date by JHJ; Right after the ownership purchase of SSET, JHJ ultimately owns 49 % of Shuya.

 Shuya
was set up as the operating entity for pipeline natural gas (PNG) and compressed natural gas (CNG) trading business, while the other
two shareholders of Shuya have large supply relationships.

 For
the year ended December 31, 2022, the Company has determined that Shuya is not a VIE and has evaluated its consolidation analysis under
the voting interest model. Because the Company does not own greater than 50% of the outstanding voting shares, either directly or indirectly,
it has accounted for its investment in Shuya under the equity method of accounting. Under this method, the investor ("JHJ")
recognizes its share of the profits and losses of the investee ("Shuya") in the periods when these profits and losses are
also reflected in the accounts of the investee. Any profit or loss recognized by the investing entity appears in its income statement.
Also, any recognized profit increases the investment recorded by the investing entity, while a recognized loss decreases the investment.

 JHJ
made an investment of RMB 3.91 million ($ 0.55 million) into Shuya during the 12 months ended December 31, 2022 recorded in accordance
with ASC 323. Shuya had a net loss of approximately $ 10,750 during the year ending December 31, 2022, of which approximately $ 5000 was
allocated to the company, reducing the investment by that amount.

 Chengdu
Xiangyueheng Enterprise Management Co., Ltd (the "Xiangyueheng"), which owns a 10% equity interest in Shuya, entered a three-party
Concerted Action Agreement (the "CAA"), wherein the parties agreed to vote in unison at the shareholders' meeting of
Shuya to consolidate the controlling position of the three parties in Shuya. The three parties agreed that during the term of the CAA,
before any of the three parties intends to propose motions to the shareholders' meetings or the board of directors, or exercise
their voting rights on any matter that shall be presented to and resolved through the shareholders' meeting in accordance with
the laws, regulations, Articles of Association of Shuya or any relevant shareholders' agreements, the three parties will discuss,
negotiate, and coordinate the motion topics for consistency; in the event of disagreement, the opinions of JHJ shall prevail.

 As
a result of the CAA, the Company re-analyzed and determined that Shuya is the variable interest entity (the "VIE") of JHJ
because 1) the equity investors at risk, as a group, lack the characteristics of a controlling financial interest, and 2) Shuya is structured
with disproportionate voting rights, and substantially all the activities are conducted on behalf of an investor with disproportionately
few voting rights. Under ASC 810, a reporting entity has a controlling financial interest in a VIE, and must consolidate that VIE, if
the reporting entity has both of the following characteristics: (a) the power to direct the activities of the VIE that most significantly
affect the VIE's economic performance; and (b) the obligation to absorb losses, or the right to receive benefits, that could potentially
be significant to the VIE. The Company concluded JHJ is deemed the primary beneficiary of the VIE. Accordingly, the Company consolidates
Shuya into its consolidated financial statements effective on January 1, 2023.

 The
change of control interest was accounted for using the acquisition method of accounting in accordance with Accounting Standards Codification,
referred to as ASC, 805, Business Combinations. The management determined that the Company was the acquiror for financial accounting
purposes. In identifying the Company as the accounting acquiror, the companies considered the structure of the transaction and other
actions contemplated by the Three-Parties Consistent Action Agreement, relative outstanding share ownership and market values, the composition
of the combined company's board of directors, the relative size of Shuya, and the designation of certain senior management positions
of the combined company.

 In accordance with ASC 805, the Company recorded the acquisition based on
the fair value of the consideration transferred and then allocated the purchase price to the identifiable assets acquired and liabilities
assumed based on their respective fair values as of the Acquisition Date. The excess of the value of consideration transferred over the
aggregate fair value of those net assets was recorded as goodwill. Any identified definite lived intangible assets will be amortized over
their estimated useful lives and any identified intangible assets with indefinite useful lives and goodwill will not be amortized but
will be tested for impairment at least annually. All intangible assets and goodwill will be tested for impairment when certain indicators
are present. Determining the fair value of assets acquired and liabilities assumed requires management to use significant judgment and
estimates including the selection of valuation methodologies, estimates of future revenues and cash flows, discount rates, and selection
of comparable companies. The valuation of purchase considerations was based on preliminary estimates that management believes are reasonable
under the circumstances. Based on the preliminary independent valuation, management determined that the difference in the fair value of
the consideration paid, and book records was immaterial due to the fact that Shuya has been only in operations for less than a year after
effective date of control in became effective. The management determined that the final purchase price allocation shall be re-valuated
subject to change pending additional operational results and forecast assumptions.

 As
the Consistent Action Agreement did not quantify any considerations to gain the control, the deemed consideration paid is the fair value
of 51 % non-controlling interest as of January 1, 2023. The following table summarizes the fair value of the consideration paid and the
fair value of assets acquired and liabilities assumed on January 1, 2023, the acquisition date.

 SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES ACQUIRED

 Fair value of non-controlling interests

 $
 650,951

 Fair value of previously held equity investment

 556,096

 Subtotal

 $
 1,207,047

 Recognized value of 100 % of identifiable net assets

 ( 1,207,047
)

 Goodwill Recognized

 $
 -

 Recognized amounts of identifiable assets acquired and liabilities assumed (preliminary):

 Inventories

 $
 516,131

 Cash and cash equivalents

 50,346

 Trade and other receivables

 952,384

 Advanced deposit

 672,597

 Net fixed assets

 6,704

 Trade and other payables

 ( 1,021,897
)

 Advanced payments

 ( 5,317
)

 Salaries and wages payables

 ( 4,692
)

 Other receivable

 40,791

 Total identifiable net assets

 $
 1,207,047

 Under ASC-805-10-50-2, initial consolidation of an investee previously reported
using fair value or the equity method should be accounted for prospectively as of the date the entity obtained a controlling financial
interest. Therefore, the Company should provide pro forma information as if the consolidation had occurred as of the beginning of each
of the current and prior comparative reporting period per

 Unaudited Proforma of Consolidated
Statement of Operations

 2023

 2022

 Sales

 14,702,977

 4,029,087

 Sales - Related Party

 410,486

 -

 Total Income

 15,113,463

 4,029,087

 Cost of
 Goods Sold

 14,023,209

 2,758,977

 Gross Profit

 1,090,254

 1,270,110

 General and Administrative

 684,893

 507,321

 Salaries

 1,671,071

 782,657

 Travel

 405,334

 166,025

 Professional Fees Legal &
 Accounting

 356,785

 315,361

 Facility Lease and Maintenance

 401,293

 349,610

 Consulting Engineering

 199,594

 119,896

 Stock Compensation

 -

 -

 Depreciation and Amortization

 26,692

 30,076

 Total Expense

 3,745,662

 2,270,946

 Net Profit
 / (Loss) From Operations

 ( 2,655,408
)

 ( 1,000,836
)

 Other Income
 & Expense

 Other Income

 81,583

 55,577

 Change in Derivative Liability

 326,539

 ( 331,495
)

 Gain / (Loss) on Debt Settlement
 and Write Down

 ( 1,124,654
)

 2,556,916

 Interest and Financing fees

 ( 2,137,649
)

 ( 1,125,371
)

 Net Profit
 / (Loss) Before Income Taxes

 ( 5,509,589
)

 154,791

 Income Tax Expense

 ( 22,173
)

 ( 18,283
)

 Net Profit
 / (Loss)

 ( 5,531,762
)

 136,508

 Non-controlling interest

 127,961

 -

 Net Profit / (Loss) attributable
 to Clean Energy Technologies, Inc.

 ( 5,659,723
)

 136,508

 Other Comprehensive Item

 Foreign Currency Translation
 Gain

 ( 36,155
)

)

 Total Comprehensible Income
 / (Loss)

 ( 5,695,878
)

 ( 24,165
)

 Non- Controlling interest

 Accumulative Other Comprehensive

 -

 Total Comprehensive

 ( 5,695,040
)

 ( 24,165
)

 Net
Profit (Loss) per Preferred and Common Share

 Basic
profit / (loss) per share is computed based on the weighted average number of common shares outstanding. At December 31, 2023, we
had outstanding common shares of 39,152,455
used in the calculation of basic earnings per share. Basic weighted average common shares and equivalents for the years ended
December 31, 2023 and 2022 were 38,447,916
and 27,681,722,
respectively. As of December 31, 2023, we had convertible notes, convertible into approximately 277,604
of additional common shares, and 70,102
common stock warrants, and 1,857,590 preferred shares. Fully diluted weighted average common shares and equivalents were 38,227,965
as of December 31, 2023 and were withheld from the calculation as they were considered anti-dilutive for the year ended December 31,
2023.

 Research
and Development

 We
had no amounts of research and development R&D expense during the year ended December 31, 2023 and 2022.

Disclosure

 FASB
Codification Topic 280, Segment Reporting, establishes standards for reporting financial and descriptive information about an
enterprise's reportable segments. The Company has four reportable segments: Manufacturing & Engineering services, Clean Energy
HRS (HRS), CETY HK NG Trading, and CETY Renewables Waste to Energy. The segments are determined based on several factors, including
the nature of products and services, the nature of production processes, customer base, delivery channels and similar economic characteristics.
Refer to note 1 for a description of the various product categories manufactured under each of these segments.

 An
operating segment's performance is evaluated based on its pre-tax operating contribution, or segment income. Segment income is
defined as net sales less cost of sales, and segment selling, general and administrative expenses, and does not include amortization
of intangibles, stock-based compensation, other charges (income), net and interest and other, net.

 Selected
Financial Data:

OF FINANCIAL DATA

 2023

 2022

 For

 2023

 2022

 Net Sales

 Manufacturing
 and Engineering

 $
 47,091

 $
 203,078

 Heat Recovery
 Solutions

 497,584

 488,453

 LNG Trading

 14,138,789

 1,890,439

 Waste to
 Energy

 429,999

 81,242

 Total Sales

 $
 15,113,463

 $
 2,663,212

 Segment income
 and reconciliation before tax

 Manufacturing
 and Engineering

 ( 16,199
)

 124,437

 Heat Recovery
 Solutions

 157,179

 361,914

 LNG Trading

 594,041

 619,446

 Waste to
 Energy

 355,233

 68,399

 Total Segment
 income

 1,090,254

 1,174,196

 Less: operating expense

 (3,745,662
)

 (2,163,947
)

 Less: other income and expenses

 (2,854,181
)

 1,155,429

 Net profit/ (loss) before income tax

 $
 (5,509,589
)

 $
 165,678

 31,

2023

 31,

2022

 Total Assets

 CETY & Manufacturing
 and Engineering

 $
 2,548,630

 $
 5,518,460

 Clean Energy HRS

 3,099,223

 2,556,166

 Waste to Energy

 523,566

 39,703

 LNG Trading

 5,339,618

 -

 Total Assets

 $
 11,511,037

 $
 8,114,329

 2023

 2022

 For

 2023

 2022

 United
 States

 905,057

 509,330

 China

 14,138,789

 1,925,950

 Other
 international

 69,617

 132,316

 Total
 Sales

 15,113,463

 2,567,596

 Share-Based
Compensation

 The
Company has adopted the use of Statement of Financial Accounting Standards No. 123R, "Share-Based Payment" (SFAS No. 123R)
(now contained in FASB Codification Topic 718, Compensation-Stock Compensation), which supersedes APB Opinion No. 25, "Accounting
for Stock Issued to Employees," and its related implementation guidance and eliminates the alternative to use Opinion 25's
intrinsic value method of accounting that was provided in Statement 123 as originally issued. This Statement requires an entity to measure
the cost of employee services received in exchange for an award of an equity instruments, which includes grants of stock options and
stock warrants, based on the fair value of the award, measured at the grant date (with limited exceptions). Under this standard, the
fair value of each award is estimated on the grant date, using an option-pricing model that meets certain requirements. We use the Black-Scholes
option-pricing model to estimate the fair value of our equity awards, including stock options and warrants. The Black-Scholes model meets
the requirements of SFAS No. 123R; however, the fair values generated may not reflect their actual fair values, as it does not consider
certain factors, such as vesting requirements, employee attrition and transferability limitations. The Black-Scholes model valuation
is affected by our stock price and a number of assumptions, including expected volatility, expected life, risk-free interest rate and
expected dividends. We estimate the expected volatility and estimated life of our stock options at grant date based on historical volatility.
For the "risk-free interest rate," we use the Constant Maturity Treasury rate on 90-day government securities. The term is
equal to the time until the option expires. The dividend yield is not applicable, as the Company has not paid any dividends, nor do we
anticipate paying them in the foreseeable future. The fair value of our restricted stock is based on the market value of our free trading
common stock, on the grant date calculated using a 20-trading-day average. At the time of grant, the share-based compensation expense
is recognized in our financial statements based on awards that are ultimately expected to vest using historical employee attrition rates
and the expense is reduced accordingly. It is also adjusted to account for the restricted and thinly traded nature of the shares. The
expense is reviewed and adjusted in subsequent periods if actual attrition differs from those estimates.

 We
re-evaluate the assumptions used to value our share-based awards on a quarterly basis and, if changes warrant different assumptions,
the share-based compensation expense could vary significantly from the amount expensed in the past. We may be required to adjust any
remaining share-based compensation expense, based on any additions, cancellations or adjustments to the share-based awards. The expense
is recognized over the period during which an employee is required to provide service in exchange for the award—the requisite service
period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the
requisite service. As of December 31, 2023, we had no further non-vested expense to be recognized.

 Leases

 On
January 2, 2020, the Company adopted ASC Topic 842, Leases, or ASC 842, using the modified retrospective transition method with a cumulative
effect adjustment to be accumulated deficit as of January 1, 2019, and accordingly, modified its policy on accounting for leases as stated
below. As described under "Recently Adopted Accounting Pronouncements," below, the primary impact of adopting ASC 842 for
the Company was the recognition in the consolidated balance sheet of certain lease-related assets and liabilities for operating leases
with terms longer than 12 months.

 The
Company's leases primarily consist of facility leases which are classified as operating leases. The Company assesses whether an
arrangement contains a lease at inception. The Company recognizes a lease liability to make contractual payments under all leases with
terms greater than twelve months and a corresponding right-of-use asset, representing its right to use the underlying asset for the lease
term. The lease liability is initially measured at the present value of the lease payments over the lease term using the collateralized
incremental borrowing rate since the implicit rate is unknown. Options to extend or terminate a lease are included in the lease term
when it is reasonably certain that the Company will exercise such an option. The right-of-use asset is initially measured as the contractual
lease liability plus any initial direct costs and prepaid lease payments made, less any lease incentives. Lease expense is recognized
on a straight-line basis over the lease term.

 Leased
right-of-use assets are subject to impairment testing as a long-lived asset at the asset-group level. The Company monitors its long-lived
assets for indicators of impairment. As the Company's leased right-of-use assets primarily relate to facility leases, early abandonment
of all or part of facility as part of a restructuring plan is typically an indicator of impairment. If impairment indicators are present,
the Company tests whether the carrying amount of the leased right-of-use asset is recoverable including consideration of sublease income,
and if not recoverable, measures impairment loss for the right-of-use asset or asset group.

Taxes

 Federal
Income taxes are not currently due since we have had losses since inception of Clean Energy Technologies.

 On
December 22, 2018 H.R. 1, originally known as the Tax Cuts and Jobs Act, (the "Tax Act") was enacted. Among the significant
changes to the U.S. Internal Revenue Code, the Tax Act lowers the U.S. federal corporate income tax rate ("Federal Tax Rate")
from 35% to 21% effective January 1, 2018. The Company will compute its income tax expense for the year ended December 31, 2022 using
a Federal Tax Rate of 21% and an estimated state of California rate of 9%.

taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition. Under
this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis
of assets and liabilities and their financial reporting amounts at each year-end. A valuation allowance is recorded against deferred
tax assets if management does not believe the Company has met the "more likely than not" standard required by ASC 740-10-25-5.

 Deferred
income tax amounts reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial
reporting purposes and the amounts used for income tax reporting purposes.

 As
of December 31, 2023, we had a net operating loss carry-forward of approximately $( 15,737,415) and a deferred tax asset of $ 4,727,224
using the statutory rate of 30 %. The deferred tax asset may be recognized in future periods, not to exceed 20 years. However, due to
the uncertainty of future events we have booked valuation allowance of $( 4,727,224). FASB ASC 740 prescribes recognition threshold and
measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax
return. FASB ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods,
disclosure and transition. At December 31, 2023 the Company had not taken any tax positions that would require disclosure under FASB
ASC 740.

 On
February 13, 2018, Clean Energy Technologies, Inc., a Nevada corporation (the "Registrant" or "Corporation")
entered into a Common Stock Purchase Agreement ("Stock Purchase Agreement") by and between MGW Investment I Limited ("MGWI")
and the Corporation. The Corporation received $ 907,388 in exchange for the issuance of 7,561,567 restricted shares of the Corporation's
common stock, par value $.001 per share (the "Common Stock").

 On
February 13,2018 the Corporation and Confections Ventures Limited. ("CVL") entered into a Convertible Note Purchase Agreement
(the "Convertible Note Purchase Agreement," together with the Stock Purchase Agreement and the transactions contemplated
thereunder, the "Financing") pursuant to which the Corporation issued to CVL a convertible promissory Note (the "CVL
Note") in the principal amount of $ 939,500 with an interest rate of 10 % per annum interest rate and a maturity date of February
13, 2020. The CVL Note is convertible into shares of Common Stock at $ 0.12 per share, as adjusted as provided therein. This note was
assigned to MGW Investments.

 This
resulted in a change in control, which limited the net operating to that date forward. We are subject to taxation in the U.S. and the
states of California. Further, the Company currently has no open tax years' subject to audit prior to December 31, 2018. The Company
is current on its federal and state tax returns.

 Reclassification

 Certain
amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications
had no effect on reported income, total assets, or stockholders' equity as previously reported.

 Recently
Issued Accounting Standards

 The
Company's management reviewed all recently issued ASU's not yet adopted by the Company and does not believe the future adoptions
of any such ASU's may be expected to cause a material impact on the Company's consolidated financial condition or the results
of its operations.

 Deferred
Stock Issuance Costs

 Deferred
stock issuance costs represent amounts paid for legal, consulting, and other offering expenses in conjunction with the future raising
of additional capital to be performed within one year. These costs are netted against additional paid-in capital as a cost of the stock
issuance upon closing of the respective stock placement. During the year ended December 31, 2023, $ 11,000 of deferred stock issuance
costs will capitalized and will be recognized upon the funding of the offering during the year 2024.

 NOTE
3 – ACCOUNTS AND NOTES RECEIVABLE

 SCHEDULE OF ACCOUNTS AND NOTES RECEIVABLE

 Accounts Receivable

 $
 1,362,130

 $
 1,388,567

 Accounts Receivable - RP

 491,774

 -

 Less reserve for uncollectable accounts

 ( 95,000
)

 ( 95,000
)

 Total

 $
 1,758,904

 $
 1,293,567

 Our
Accounts Receivable is pledged to Nations Interbanc, our line of credit.

 SCHEDULE OF LEASE RECEIVABLE ASSET

 31, 2023

 31, 2022

 Long-term receivables

 $

 1,149,854

 $

 1,000,000

 Less reserve for uncollectable accounts

 ( 247,500

)

 ( 247,500

)

 Net Long-term receivables

 902,354

 752,500

 T he
Company is currently modifying the assets subject to lease to meet the provisions of the agreement, and as of December 31, 2023 any collection
on the lease payments was not yet considered probable, resulting in no derecognition of the underlying asset and no net lease investments
recognized on the sales-type lease pursuant to ASC 842-30-25-3.

 On
a contract by contract basis or in response to certain situations or installation difficulties, the Company may elect to allow non-interest
bearing repayments in excess of 1 year.

 Our
long - term financing Receivable are pledged to Nations Interbanc, our line of credit.

 NOTE
4 – INVENTORY

 Inventories
by major classification were comprised of the following at:

 SCHEDULE OF INVENTORIES

 Inventory

 $
 1,909,238

 $
 1,389,394

 Less reserve for obsolescence parts

 ( 934,344
)

 ( 897,808
)

 Total

 $
 974,894

 $
 500,586

 Our
Inventory is pledged to Nations Interbanc, our line of credit.

 NOTE
5 – PROPERTY AND EQUIPMENT

 Property
and equipment were comprised of the following at:

 SCHEDULE OF PROPERTY AND EQUIPMENT

 Property and Equipment

 $
 1,509,025

 $
 1,430,260

 Accumulated Depreciation

 ( 1,430,337
)

 ( 1,415,444
)

 Net Fixed Assets

 $
 78,688

 $
 14,816

 Our
Depreciation Expense for the years ended December 31, 2023 and 2022 was $ 26,692 and $ 30,076 respectively.

 Our
Property Plant and Equipment is pledged to Nations Interbanc, our line of credit.

 NOTE
6 – INTANGIBLE ASSETS

 Intangible
assets were comprised of the following at:

 SCHEDULE OF INTANGIBLE ASSETS

 Goodwill

 $
 747,976

 $
 747,976

 LWL Investment

 1,468,709

 1,468,709

 Intangible assets - Shuya

 12,914

 -

 License

 354,322

 354,322

 Patents

 190,789

 190,789

 Accumulated Amortization

 ( 98,972
)

 ( 87,096
)

 Net Fixed Assets

 $
 26,82,893

 $
 2,674,700

 Our
Amortization Expense for the years ended December 31, 2023 and 2022 was $ 11,876 and 11,876 respectively.

 Based
on the foregoing analysis of the facts surrounding the Company's acquisition of LWL, it is the Company's position that the
Company is the acquirer of LWL, under the acquisition method of accounting.

 As
such, as of November 8, 2021 (the acquisition date), the Company recognized, separately from goodwill, the identifiable assets acquired
and the liabilities assumed in the Business combination.

 The
following table presents the purchase price allocation:

 SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE ALLOCATION

 Consideration:

 Total purchaser consideration – cash paid

 $
 1,500,000

 Assets acquired:

 Cash and cash equivalents

 $
 6,156

 Prepayment

 $
 13,496

 Other receivable

 $
 20,000

 Trading Contracts

 $
 146,035

 Shenzhen Gas Relationship

 $
 1,314,313

 Total assets acquired

 $
 1,508,539

 Liabilities assumed:

 Advance Receipts

 $
 ( 8,539
)

 Taxes Payable

 $

 Net Assets Acquired:

 $
 1,500,000

 If
LWL reach USD 5 million in revenue or net profit of USD 1 million by December 31, 2023, then based on the performance contingency
there will be issuance of 500,000 shares of CETY to the Seller. As of the date of the filing the performance contingencies had not
been met.

 NOTE
7 – CONVERTIBLE NOTE RECEIVABLE

 Effective
January 10, 2022, JHJ ("note holder") entered a convertible note agreement with Chengdu Rongjun Enterprise Consulting Co.,
Ltd ("Rongjun" or "the borrower") with maturity on January
10, 2025. Under this convertible note, JHJ lent
RMB 5,000,000
 ($ 0.78
 million) to Rongjun with annual interest rate
of 12 %,
calculated from the Issuance Date until all outstanding interest and principal is paid in full. The Borrower may pre-pay principal or
interest on this Note at any time prior to the maturity date, without penalty. JHJ has the right to convert this note directly or indirectly
into shares or equity interest of Heze Hongyuan Natural Gas Co., Ltd ("Heze") equal to 15 %
of Heze's outstanding Equity Interest. Rongjun owns 90 %
of Heze. During the year end December 31, 2023, JHJ recorded $ 58,273
 interest income accrued from 2022 from this note,
the accrual of interest income ceased in October 2022.

 NOTE
8 – ACCRUED EXPENSES

OF ACCRUED EXPENSES

 Accrued Wages

 $
 104,775

 $
 102,370

 Sales tax payable

 47,661

 Accrued Taxes and other

 433,936

 16,660

 Accrued Taxes and other

 $
 586,372

 $
 119,030

 NOTE
9 – NOTES PAYABLE

 On
November 11, 2013, we entered into an accounts receivable financing agreement with American Interbanc (now Nations Interbanc). Amounts
outstanding under the agreement bear interest at the rate of 2.5 % per month. It is secured by the assets of the Company. In addition,
it is personally guaranteed by Kambiz Mahdi, our Chief Executive Officer. As of December 31, 2023, the outstanding balance was $ 626,033
compared to $ 998,820 at December 31, 2022.

 On
April 1, 2021, we entered into an amendment to the purchase order financing agreement with DHN Capital, LLC dba Nations Interbanc. Nations
Interbanc has lowered the accrued fees balance by $ 275,000.00 as well as the accrual rate to 2.25 % per 30 days. As a result, CETY has
agreed to remit a minimum monthly payment of $ 50,000 by the final calendar day of each month.

 On
September 11, 2015, our CE HRS subsidiary issued a promissory note in the initial principal amount $ 1,400,000 and assumed a pension liability
of $ 100,000, for a total liability of $ 1,500,000, in connection with our acquisition of the heat recovery solutions, or HRS, assets of
General Electric International, Inc., a Delaware corporation ("GEII"), including intellectual property, patents, trademarks,
machinery, equipment, tooling and fixtures. The note bears interest at the rate of 2.66 % per annum. The note is payable on the following
schedule: (a) $ 200,000 in principal on December 31, 2015 and (b) thereafter, the remaining principal amount of $1,200,000, together with
interest thereon, payable in equal quarterly instalments of principal and interest of $157,609, commencing on December 31, 2016 and continuing
until December 31, 2019, at which time the remaining unpaid principal amount of this note and all accrued and unpaid interest thereon
shall be due and payable in full. CETY stopped making payments and informed GE that it had encountered difficulties because of the valuations
of the assets that were acquired from GE. Given that the values of the assets were different than GE's internal reports and as
we discussed at the time of the transaction with GE's management, we proposed a change in the amount the Company owes GE under
the purchase agreement, but GE was non-responsive and GE's entire distributed power vertical has been divested.

 Based
on the California Statute of Limitations, the Nevada Statute of Limitations, and the New York Statute of Limitations it is the view
of our legal counsel that the above referenced debt is no longer an enforceable obligation. under California law, Nevada law, and
New York law, as it became past due no later than November 3, 2016, more than Six (6) years ago and last payment made on the debt
was on November 3, 2016, which is more than Six (6) years ago. The total gain recognized from this write off was $ 2,556,916 for the year ended December 31, 2022.

 On
March 10, 2022 the company entered into a promissory note in the amount of $ 170,600,
interest rate of 22% per annum. This note is due in full on March
10, 2023 and has mandatory monthly payments of $ 18,766.
The note had an OID of $ 17,060
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken place, none
of which have occurred as of the date of this filing. This note was paid off as of Dec 6, 2022.

 On
June 30, 2022 the company entered into a promissory note in the amount of $ 252,928.44
interest rate of 22% per annum. This note is due in full on June
30, 2023 and has mandatory monthly payments of $ 27,822.13.
The note had an OID of $ 25,293
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken place,
none of which have occurred as of the date of this filing. The balance on this note as of December 31, 2022 was $ 139,111.30.
This note was paid off as of Feb 13, 2023.

 On
July 13, 2022 the company entered into a promissory note in the amount of $ 159,450
with interest rate of 10 %
interest rate of 22% per annum. This note is due in full on July
13, 2023 and has mandatory monthly payments of $ 17,539.50.
The note had an OID of $ 16,447.00
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This is note is convertible, but not until a contingent event of default has taken place,
none of which have occurred as of the date of this filing. The balance on this note as of December 31, 2022 was $ 87,697.50.
This note was paid off as of March 7, 2023.

 On
October 25, 2022 the company entered into a promissory note in the amount of $ 114,850
with interest rate of 10 %
interest rate of 22% per annum. This note is due in full on October
25, 2023 and has mandatory monthly payments of $ 12,633.50
The note had an OID of $ 11,850.00
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This is note is convertible, but not until a contingent event of default has taken place,
none of which have occurred as of the date of this filing. This note was paid off as of September 15, 2023.

 On
December 5,2022 the company entered into a promissory note in the amount of $ 191,526
with interest rate of 10 %
interest rate of 22% per annum. This note is due in full on December
5, 2023 and has mandatory monthly payments of $ 21,067.80
The note had an OID of $ 19,760.00
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken place, none
of which have occurred as of the date of this filing. The balance on this note as of December 31, 2023 was $ 0.

 On
February 10, 2023 the company entered into a promissory note in the amount of $ 258,521
interest rate of 22% per annum. This note is due in full on February
10, 2024, and has mandatory monthly payments of $ 28,437.
The note had an OID of $ 27,698
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken place, none
of which has occurred as of the date of this filing. The balance on this note as of December 31,2023 was 0.

 On
March 6, 2023 the company entered into a promissory note in the amount of $ 135,005 with an interest rate of 10 % per annum and a default
interest rate of 22% per annum. This note is due in full on March 6, 2024, and has mandatory monthly payments of $ 13,500. The note had
an OID of $ 14,465 and was recorded as a finance fee expense. In the event of the default, at the option of the Investor, the note may
be converted into shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken
place, none of which has occurred as of the date of this filing. The balance on this note as of December 31, 2023 was $ 0.

 On
October 13, 2023 the company entered into a promissory note in the amount of $ 197,196
interest rate of 22% per annum. This note is due in full on August
15, 2024 and has mandatory monthly payments of $ 21,692.
The note had an OID of $ 21,128
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken place, none
of which has occurred as of the date of this filing. The balance on this note as of date of this filing was $ 173,532.

 On
November 17, 2023 the company entered into a promissory note in the amount of $ 261,450
interest rate of 22% per annum. This note is due in full on September
30, 2024 and has mandatory monthly payments of $ 28,760.
The note had an OID of $ 28,013
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken place, none
of which has occurred as of the date of this filing. The balance on this note as of date of this filing was $ 287,595.

 On
November 30, 2023 the company entered into a promissory note in the amount of $ 136,550
interest rate of 22% per annum. This note is due in full on September
30, 2024 and has mandatory monthly payments of $ 15,021.
The note had an OID of $ 16,700
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken place, none
of which has occurred as of the date of this filing. The balance on this note as of date of this filing was $ 150,205.

 On
December 19, 2023 the company entered into a promissory note in the amount of $ 92,000
interest rate of 22% per annum. This note is due in full on October
30, 2024 and has mandatory monthly payments of $ 10,120.
The note had an OID of $ 12,000
and was recorded as finance fee expense. In the event of the default, at the option of the Investor, the note may be converted into
shares of common stock of the company. This note is convertible, but not until a contingent event of default has taken place, none
of which has occurred as of the date of this filing. The balance on this note as of date of this filing was $ 101,200.

 Convertible
notes

 On
May 5, 2017 we entered into a nine-month convertible note payable for $ 78,000, which accrues interest at the rate of 12 % per annum. It
is not convertible until nine months after its issuance and has a conversion rate of ninety one percent ( 61 %) of the lowest closing bid
price (as reported by Bloomberg LP) of our common stock for the fifteen ( 15) Trading Days immediately preceding the date of conversion.
On November 6, 2017 this note was assumed and paid in full at a premium for a total of $ 116,600 by Cybernaut Zfounder Ventures. An amended
term were added to the original note with the interest rate of 14 %. This note matured on February 21 st of 2018. As of April
3, 2023 this note was settled and paid off, please see comment below.

 On
May 24, 2017, we entered into a nine-month convertible note payable for $ 32,000,
which accrues interest at the rate of 12 %
per annum. It is not convertible until three months after its issuance and has a conversion rate of fifty-five eight percent ( 58 %)
of the lowest closing bid price (as reported by Bloomberg LP) of our common stock for the fifteen ( 15)
Trading Days immediately preceding the date of conversion. On November 6, 2017, this note was assumed and paid in full at a premium for
a total of $ 95,685,
by Cybernaut Zfounder Ventures. An amended term was added to the original note with the interest rate of 14 %.
This note matured on February 26, 2018. As of March 31, 2023 the outstanding balance due was $ 163,980.
As of April 3, 2023 this note was settled and paid off. On April 3, 2023 Clean Energy Technologies, Inc. reached an agreement with Cybernaut
Zfounder Ventures, LLC to pay off the outstanding convertible notes dated May 5, 2017 and May 24, 2017 in amount equal to $ 330,555
 that were in default for a settlement amount
of $ 200,000.

 On
May 6, 2022, we entered into a Securities Purchase Agreement with Mast Hill, L.P. ("Mast Hill) pursuant to which the Company issued
to Mast Hill a $ 750,000 Convertible Promissory Note, due May 6, 2023 for a purchase price of $ 675,000 plus an
original issue discount in the amount of $ 75,000, and an interest rate of fifteen percent ( 15 %) per annum. Mast Hill Fund is entitled
to purchase 234,375 shares of commons stock per the warrant agreement at the exercise price of $ 1.60. The
Securities Purchase Agreement provides customary representations, warranties and covenants of the Company and Mast Hill as well as providing
Mast Hill with registration rights. The principal balance and accrued interest of this as of December 31, 2023 was $ 935,856.

 On
August 5, 2022, we entered into a Securities Purchase Agreement with Jefferson Street Capital, LLC (Jefferson) pursuant to which the
Company issued to Jefferson a $ 138,888 Convertible Promissory Note, due August 5, 2023 for a purchase price
of $ 125,000 plus an original issue discount in the amount of $ 13,889, and an interest rate of fifteen percent ( 15 %) per annum. Jefferson
is entitled to purchase 43,403 shares of commons stock per the warrant agreement at the exercise price of $ 1.60. The
Securities Purchase Agreement provides customary representations, warranties and covenants of the Company and Jefferson as well as providing
Jefferson with registration rights. This note was paid off as of March 9, 2023 for the payoff amount of $ 187,451.

 On
August 17, 2022, we entered into a Securities Purchase Agreement with Firstfire Global Opportunities Fund LLC ("Firstfire")
pursuant to which the Company issued to Mast Hill a $ 150,000 Convertible Promissory Note, due August 17, 2023 for a purchase price of $ 135,000 plus an original issue discount in the amount of $ 15,000, and an interest rate of fifteen percent ( 15 %)
per annum. Firstfire is entitled to purchase 46,875 shares of commons stock per the warrant agreement at the exercise price of $ 1.60.
 The Securities Purchase Agreement provides customary representations, warranties and covenants
of the Company and Firstfire as well as providing Firstfire with registration rights. This note was paid off as of March 9, 2023 for
the payoff amount $ 215,000.

 On
September 1, 2022, we entered into a Securities Purchase Agreement with Pacific Pier Capital, LLC (Pacific) pursuant to which the Company
issued to Pacific a $ 138,888 Convertible Promissory Note, due August 5, 2023 for a purchase price of $ 125,000
plus an original issue discount in the amount of $ 13,888, and an interest rate of fifteen percent ( 15 %) per annum. Pacific is entitled
to purchase 43,403 shares of commons stock per the warrant agreement at the exercise price of $ 1.60. The
Securities Purchase Agreement provides customary representations, warranties and covenants of the Company and Pacific as well as providing
Pacific with registration rights. This note was paid off as of March 9, 2023 for the payoff amount of $ 190,606.

 On
September 16, 2022, we entered into a Securities Purchase Agreement with Mast Hill, pursuant to which the Company
issued to Mast Hill a $ 300,000 Convertible Promissory Note, due September 16, 2023 for a purchase price of $ 270,000
plus an original issue discount in the amount of $ 30,000, and an interest rate of fifteen percent ( 15 %) per annum. Mast Hill Fund is
entitled to purchase 93,750 shares of commons stock per the warrant agreement at the exercise price of $ 1.60. The
Securities Purchase Agreement provides customary representations, warranties and covenants of the Company and Mast Hill as well as providing
Mast Hill with registration rights. Mast Hill converted their warrant on April 18, 2023. The principal balance and accrued interest
of this as of December 31, 2023 was $ 357,945.

 On
November 10, 2022, we entered into a Securities Purchase Agreement with Mast Hill, L.P. pursuant to which the Company
issued to Mast Hill a $ 95,000 Convertible Promissory Note, due November 10, 2023 for a purchase price of $ 85,500
plus an original issue discount in the amount of $ 9,500 and an interest rate of fifteen percent ( 15 %) per annum. Mast Hill Fund is entitled
to purchase 29,686 shares of commons stock per the warrant agreement at the exercise price of $ 1.60. The
Securities Purchase Agreement provides customary representations, warranties and covenants of the Company and Mast Hill as well as providing
Mast Hill with registration rights. The principal balance and accrued interest of this as of November 08, 2023 was $ 109,016. This
note was converted into Series E preferred shares of CETY.

 On
November 21, 2022, we entered into a Securities Purchase Agreement with Mast Hill, L.P. pursuant to which the Company
issued to Mast Hill a $ 95,000 Convertible Promissory Note, due November 21, 2023 for a purchase price of $ 85,500
plus an original issue discount in the amount of $ 9,500, and an interest rate of fifteen percent ( 15 %) per annum. Mast Hill Fund is entitled
to purchase 29,686 shares of commons stock per the warrant agreement at the exercise price of $ 1.60. The
Securities Purchase Agreement provides customary representations, warranties and covenants of the Company and Mast Hill as well as providing
Mast Hill with registration rights. The principal balance and accrued interest of this as of November 8, 2023 was $ 108,703. This
note was converted into Series E preferred shares of CETY.

 On
December 26, 2022, we entered into a Securities Purchase Agreement with Mast Hill, L.P. pursuant to which the Company
issued to Mast Hill a $ 123,000 Convertible Promissory Note, due December 26, 2023 for a purchase price of $ 110,700
plus an original issue discount in the amount of $ 12,300 and an interest rate of fifteen percent ( 15 %) per annum. Mast Hill Fund is entitled
to purchase 38,437 shares of commons stock per the warrant agreement at the exercise price of $ 1.60. The
Securities Purchase Agreement provides customary representations, warranties and covenants of the Company and Mast Hill as well as providing
Mast Hill with registration rights. The principal balance and accrued interest of this as of November 08, 2023 was $ 138,923. This
note was converted into Series E preferred shares of CETY.

 On
January 19, 2023 we entered into a Securities Purchase Agreement with Mast Hill, L.P. pursuant to which the Company
issued to Mast Hill a $ 187,000 Convertible Promissory Note, due January 19, 2024 for a purchase price of $ 168,300
plus an original issue discount in the amount of $ 18,700 and an interest rate of fifteen percent ( 15 %) per annum. Mast Hill Fund is entitled
to purchase 58,438 shares of common stock per the warrant agreement at the exercise price of $ 1.60. The Securities Purchase Agreement
provides customary representations, warranties and covenants of the Company and Mast Hill as well as providing Mast Hill with registration
rights. The principal balance and accrued interest of this as of November 08, 2023 was $ 209,517. This note was converted into Series
E preferred shares of CETY.

 On
March 8, 2023 we entered into a Securities Purchase Agreement with Mast Hill, L.P. pursuant to which the Company issued
to Mast Hill a $ 734,000 Convertible Promissory Note, due March 8, 2024 for a purchase price of $ 660,600 plus
an original issue discount in the amount of $ 73,400 and an interest rate of fifteen percent ( 15 %) per annum. Mast Hill Fund is entitled
to purchase 367,000 shares of common stock per the warrant agreement at the exercise price of $ 1.60. The Securities Purchase Agreement
provides customary representations, warranties and covenants of the Company and Mast Hill as well as providing Mast Hill with registration
rights. The principal balance and accrued interest balance of this as of November 08, 2023 was $ 807,601. This note was converted into
Series E preferred shares of CETY.

 On
July 20, 2023 Clean Energy Technology, Inc., a Nevada corporation (the "Company") closed the transactions contemplated by
the Securities Purchase Agreement with Mast Hill, L.P. (Mast Hill") dated July 18, 2023 (the "Securities Purchase Agreement")
pursuant to which the Company issued to Mast Hill a $ 556,000 Convertible Promissory Note, due July 18, 2024 (the "Note")
for a purchase price of $ 500,400 plus an original issue discount in the amount of $ 55,600, and an interest rate of fifteen percent ( 15 %)
per annum.

 The
principal and interest of the Note may be converted in whole or in part at any time on or following the issue date, into common stock
of the Company, par value $.001 share ("Common Stock"), subject to anti-dilution adjustments and for certain other corporate
actions subject to a beneficial ownership limitation of 4.99 % of Mast Hill and its affiliates. The per share conversion price into which
principal amount and accrued interest may be converted into shares of Common Stock equals $ 6.00, subject to adjustment as provided in
the Note. Upon an event of default, the Note will become immediately payable and the Company shall be required to pay a default rate
of interest of 15 % per annum. At anytime prior to an event of default, the Note may be prepaid by the Company at a 150 % premium. The
Note contains customary representations, warranties and covenants of the Company. The principal balance and accrued interest balance
of this as of November 08, 2023 was $ 581,363. This note was converted into Series E preferred shares of CETY.

 Total
due to Convertible Notes

 SCHEDULE OF CONVERTIBLE NOTES

 Total convertible notes

 $
 1,697,757

 $
 3,156,528

 Accrued Interest

 308,216

 262,331

 Debt Discount

 ( 71,017
)

 ( 326,804
)

 Total

 $
 1,934,956

 $
 3,092,055

 NOTE
10 – DERIVATIVE LIABILITIES

 As
a result of the convertible notes, we recognized the embedded derivative liability on the date of note issuance. We also revalued the
remaining derivative liability on the outstanding note balance on the date of the balance sheet. We value the derivative liability using
a binomial lattice model with an expected volatility range of 91.5 %, a risk-free interest rate range of 4.5 %, and exercise price of
$ 1.00. The derivative liability as of December 31, 2023 was $ 0 after the Company paid off the two convertible notes payable in the second
quarter of 2023.

 The
remaining derivative liabilities were:

 SCHEDULE OF FAIR VALUE OF DERIVATIVE LIABILITY

 Derivative Liabilities on Convertible Loans:

 Outstanding Balance

 $
 -

 $
 588,178

 NOTE
11 – COMMITMENTS AND CONTINGENCIES

 Operating
Rental Leases

 ASB
ASU 2016-02 "Leases (Topic 842)" – In February 2016, the FASB issued ASU 2016-02, which requires lessees to recognize
almost all leases on their balance sheet as a right-of-use asset and a lease liability. For income statement purposes, the FASB retained
a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely
similar to those applied in current lease accounting, but without explicit bright lines. Lessor accounting is similar to the current
model but has been updated to align with certain changes to the lessee model and the new revenue recognition standard. This ASU is effective
for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We have adopted the above ASU
as of January 1, 2019. The right of use asset and lease liability have been recorded at the present value of the future minimum lease
payments, utilizing a 5 % average borrowing rate and the company is utilizing the transition relief and "running off" on current
leases.

 As
of May 1, 2017, our corporate headquarters were located at 2990 Redhill Unit A, Costa Mesa, CA. On March 10, 2017, the Company signed
a lease agreement for an 18,200 -square
foot CTU Industrial Building. Lease term is seven years and two months beginning July 1, 2017. This lease ended as of November 30, 2023.
 In
October of 2018 we signed a sublease agreement with our facility in Italy with an indefinite term that may be terminated by either party
with a 60-day notice for 1,000 Euro per month. Due to the short termination clause, we are treating this as a month-to-month lease.
This lease ended as of December 31, 2023.

 We
have relocated our corporate office to 1340 Reynolds Avenue Unit 120, Irvine, CA 92614. On December 1, 2023, the Company signed a
lease agreement for a 3000-square foot of office space with Metro Creekside California, LLC. Lease term is thirty-eight months
beginning December 1, 2023 and expiring on January 31, 2027. On October 16 of 2023, we signed a sublease agreement to relocate the
HRS operations from Costa Mesa to Irvine, California for one year and 7 months commencing December 1, 2023 and ending June 30, 2025.
We also signed a temporary storage lease and Due to the short termination clause, we are treating this as a month-to-month
lease.

 The
components of lease costs, lease term and discount rate with respect of these two leases with an initial term of more than 12 months
are as the following:

 Balance
sheet information related to the Company's operating leases:

 SCHEDULE OF OPERATING
LEASE COST

 As of
 December 31,
 2023

 Right-of-used assets

 $
 245,974

 Lease liabilities – current

 $
 117,606

 Lease liabilities –
 non-current

 128,480

 Total lease liabilities

 $
 246,086

 The
weighted-average remaining lease term and the weighted-average discount rate of the above two leases are as
follows:

 Year Ended December 31, 2023

 Weighted average remaining lease term (years)

 2.25

 Weighted average discount rate

 6.5
 %

 The
following is a schedule, by year of lease payment for above two leases as of December 31, 2023:

OF LEASE PAYMENT

 For the
 12 months ending

 Lease
 Payment

 2024

 129,622

 2025

 90,243

 2026

 40,642

 2027

 3,511

 Total undiscounted cash flows

 264,017

 Imputed Interest

 ( 17,932

)

 Present value of lease
 liabilities

 $

 246,086

 Effective
August 5, 2022, Shuya entered a 48-month lease for a natural gas recycle station from Leishen (the 41% shareholder of Shuya), including
the operating rights and use rights of all the assets and equipment in the station. The annual rent is approximately $64,290, to be paid
each year in advance, however, it has not been paid since the lease commenced. Effective August 5, 2022, Shuya entered another 48-month
lease for leasing sewage treatment land from Leishen to operate the natural gas recycling station. The annual rent is approximately $17,137,
to be paid each year in advance, which has not been fully paid since the lease commenced.

 The components of lease costs, lease term and discount rate with respect of Leishen leases with an initial term of
more than 12 months are as the following:

 Balance
sheet information related to the Company's Leishen operating leases:

 SCHEDULE OF OPERATING
LEASE COST

 As of
 December 31,
 2023

 Right-of-used assets

 $
 207,995

 Lease liabilities – current

 $
 229,201

 Lease liabilities – non-current

 81,506

 Total lease liabilities

 $
 310,707

 The
weighted-average remaining lease term and the weighted-average discount rate of Leishen leases are as
follows:

 Year Ended December 31

 2023

 2022

 Weighted average remaining lease term (years)

 2.59

 3.59

 Weighted average discount rate

 %

 %

 The
following is a schedule, by year of lease payment for Shuya as of December 31, 2023.

 For the 12 months ending

 Lease Payment

 2024

 229,201

 2025

 41,338

 2026

 48,950

 2027

 -

 Total undiscounted cash flows

 319,489

 Imputed Interest

 ( 8,782
)

 Present value of lease liabilities

 $
 310,707

 Our
 lease expense (including both ASC 842 lease and short-term lease) for the years ended December 31, 2023 and 2022 was $ 401,293
 and $ 349,610
 respectively.

 Severance
Benefits

 Mr.
Mahdi will receive a severance benefit consisting of a single lump sum cash payment equal the salary that Mr. Mahdi would have been entitled
to receive through the remainder or the Employment Period or One (1) year, whichever is greater.

 NOTE
12 – CAPITAL STOCK TRANSACTIONS

 On
April 21, 2005, our Board of Directors and shareholders approved the re-domicile of the Company in the State of Nevada, in connection
with which we increased the number of our authorized common shares to 5,000,000 and designated a par value of $.001 per share.

 On
May 25, 2006, our Board of Directors and shareholders approved an amendment to our Articles of Incorporation to authorize a new series
of preferred stock, designated as Series C, and consisting of 15,000 authorized shares.

 On
June 30, 2017, our Board of Directors and shareholders approved an increase in the number of our authorized common shares to 10,000,000
and in the number of our authorized preferred shares to 10,000,000. The amendment effecting the increase in our authorized capital was
filed and effective on July 5, 2017.

 On
August 28, 2018, our Board of Directors and shareholders approved an increase in the number of our authorized common shares to 20,000,000.
The amendment effecting the increase in our authorized capital was filed and effective on August 23, 2018.

 On
June 10, 2019, our Board of Directors and shareholders approved an increase in the number of our authorized common shares to 50,000,000.
The amendment effecting the increase in our authorized capital was effective on September 27, 2019

 On
January 6, 2023, our board of directors and majority shareholders approved a reverse stock split. Effective upon the filing of our Certificate
of Amendment of Articles of Incorporation with the Secretary of State of the State of Nevada, the shares of the Corporation's Common
Stock issued and outstanding immediately prior to the Effective Time of January 6, 2023, will be automatically reclassified as and combined
into shares of Common Stock such that each (40) shares of Old Common Stock shall be reclassified as and combined into one (1) share of
New Common Stock. All per share references to common stock have been retroactively represented throughout the financials.

Stock Transactions

 On
December 27, 2021, we entered into a convertible note payable with Universal Scope Inc. for $ 650,000
with a maturity date of June
21, 2022 which accrues interest at the rate of 2 %
per annum. It is convertible at any time after its issuance and has a fixed conversion rate of $ 2.40
of our common stock. This note and accrued interest equating to $ 666,250 was converted into 277,604
of our common shares on March 28, 2023.

 On
February 21, 2022, we issued 375,875 shares of our common stock under our Reg A offering at $ 3.20 per share. These shares are unrestricted
and free trading.

 During
the quarter ended March 31, 2022, we issued 78,896 shares of common stock, under S-1 registration statement with GHS for a total of $ 134,755
in net proceeds and expensed $ 45,498 in legal and financing fees as a result.

 During
the April of 2022, we issued 122,891 shares of common stock, under S-1 registration statement with GHS for a total of $ 153,324 in net
proceeds and expensed $ 34,500 in legal and financing fees as a result.

 On
May 6, 2022, the Company entered into a Securities Purchase Agreement and a warrant agreement with Mast Hill, L.P. (Mast Hill")
pursuant to which the Company issued to Mast Hill the Company issued Mast Hill a five-year warrant
to purchase 234,375 shares of common stock in connections with the transactions.

 On
August 17, 2022 we issued 46,875 warrant shares in connection with the issuance of the promissory note in the principal amount of $ 150,000
to First Fire at the exercise price per share of $ 1.60. However, that if the Company consummates an Uplist Offering on or before the
date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the offering
price per share of Common Stock. On March 1, 2023 First Fire exercised the warrant in full on a cashless basis to purchase 33,114 shares
of common stock.

 On
September 1, 2022 we issued 43,403 warrant shares in connection with the issuance of the promissory note in the principal amount of $ 138,889
to Pacific Pier at the exercise price per share of $ 1.60. However, that if the Company consummates an Uplist Offering on or before the
date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the offering
price per share of Common Stock. On March 1, 2023 Pacific Pier exercised the warrant in full on a cashless basis to purchase 31,111 shares
of common stock.

 On
September 21, 2022 MGW I converted $ 1,548,904 from the outstanding balance of their convertible note into 12,907,534 shares of company's
common stock.

 On
December 28, 2022 Mast Hill exercised their warrant in full on a cashless basis to purchase 100,446 shares of Common Stock.

 On
January 19, 2023, the Company entered into a Securities Purchase Agreement and a warrant agreement with Mast Hill, L.P. (Mast Hill")
pursuant to which the Company issued to Mast Hill the Company issued Mast Hill a five-year warrant to purchase 58,438 shares of common
stock in connections with the transactions.

 On
January 27, 2023 we issued 3,745 shares of our common stock due to rounding post the reverse stock split.

 On
March 23, 2023 we sold 975,000 shares of our common stock in an underwritten offering to R.F. Lafferty & CO and Phillip US. The initial
public offering price per share is $ 4.00 per share. Net proceeds from this offering was $ 3,094,552.

 In
the second quarter of 2023, the Company issued 40,000 shares to a consultant at fair value of $ 72,000.

 On
March 8, 2023 the Company entered into a Securities Purchase Agreement and a warrant agreement with Mast Hill, L.P. (Mast Hill")
pursuant to which the Company issued to Mast Hill the Company issued Mast Hill a five-year warrant to purchase 367,000 shares of common
stock in connections with the transactions.

 On
April 18, 2023 Mast Hill exercised the right to purchase 93,750 of the shares of Common Stock ("Warrant Shares") of Clean
Energy Technologies, Inc., because of the Common Stock Purchase Warrant (the "Warrant") issued on September 16, 2022. The
exercise price is $ 1.60 per share. The total purchase price was $ 150,000.

 On
May 10, 2023 Mast Hill exercised the right to purchase 58,438 of the shares of Common Stock ("Warrant Shares") of Clean Energy
Technologies, Inc., because of the Common Stock Purchase Warrant (the "Warrant") issued on January 19, 2023. The exercise
price is $ 1.60 per share. The total purchase price was $ 93,501.

 On
June 14, 2023 Mast Hill exercised the right to purchase 38,438 of the shares of Common Stock ("Warrant Shares") of Clean
Energy Technologies, Inc., because of the Common Stock Purchase Warrant (the "Warrant") issued on December 26, 2022. The
exercise price is $ 1.60 per share. The total purchase price was $ 61,501.

 On
June 23, 2023 Mast Hill exercised the right to purchase 29,688 of the shares of Common Stock ("Warrant Shares") of Clean
Energy Technologies, Inc., because of the Common Stock Purchase Warrant (the "Warrant") issued on November 21, 2022. The
exercise price is $ 1.60 per share. The total purchase price was $ 47,501.

 On
September 12, 2023 Mast Hill exercised the right to purchase 29,688 of the shares of Common Stock ("Warrant Shares") of Clean
Energy Technologies, Inc., because of the Common Stock Purchase Warrant (the "Warrant") issued on November 21, 2022. The
exercise price is $ 1.60 per share. The total purchase price was $ 47,501.

 On
September 13, 2023 Mast Hill exercised the right to purchase 183,500 of the shares of Common Stock ("Warrant Shares") of
Clean Energy Technologies, Inc., because of the Common Stock Purchase Warrant (the "Warrant") issued on March 08, 2022. The
exercise price is $ 1.60 per share. The total purchase price was $ 293,600.

 On
October 27, 2023 Mast Hill exercised the right to purchase 183,500 of the shares of Common Stock ("Warrant Shares") of Clean
Energy Technologies, Inc., because of the Common Stock Purchase Warrant (the "Warrant") issued on March 08, 2022. The exercise
price is $ 1.60 per share. The total purchase price was $ 293,600.

Stock

 Our
Articles of Incorporation authorize us to issue 2,000,000,000 shares of common stock, par value $ 0.001 per share. As of December 31,
2023 there were 39,152,455 shares of common stock outstanding. All outstanding shares of common stock are, and the common stock to be
issued will be, fully paid and non-assessable. Each share of our common stock has identical rights and privileges in every respect. The
holders of our common stock are entitled to vote upon all matters submitted to a vote of our shareholders and are entitled to one vote
for each share of common stock held. There are no cumulative voting rights.

 The
holders of our common stock are entitled to share equally in dividends and other distributions that our Board of Directors may declare
from time to time out of funds legally available for that purpose, if any, after the satisfaction of any prior rights and preferences
of any outstanding preferred stock. If we liquidate, dissolve or wind up, the holders of common stock shares will be entitled to share
ratably in the distribution of all of our assets remaining available for distribution after satisfaction of all our liabilities and our
obligations to holders of our outstanding preferred stock.

 Preferred
Stock

 Our
Articles of Incorporation authorize us to issue 20,000,000 shares of preferred stock, par value $ 0.001 per share. Our Board of Directors
has the authority to issue additional shares of preferred stock in one or more series, and fix for each series, the designation of and
number of shares to be included in each such series. Our Board of Directors is also authorized to set the powers, privileges, preferences,
and relative participating, optional or other rights, if any, of the shares of each such series and the qualifications, limitations or
restrictions of the shares of each such series.

 Unless
our Board of Directors provides otherwise, the shares of all series of preferred stock will rank on parity with respect to the payment
of dividends and to the distribution of assets upon liquidation. Any issuance by us of shares of our preferred stock may have the effect
of delaying, deferring or preventing a change of our control or an unsolicited acquisition proposal. The issuance of preferred stock
also could decrease the amount of earnings and assets available for distribution to the holders of common stock or could adversely affect
the rights and powers, including voting rights, of the holders of common stock.

 We
previously authorized 440 shares of Series A Convertible Preferred Stock, 20,000 shares of Series B Convertible Preferred Stock, and
 15,000 shares Series C Convertible Preferred Stock. As of August 20, 2006, all series A, B, and C preferred had been converted into common
stock.

 Effective
August 7, 2013, our Board of Directors designated a series of our preferred stock as Series D Preferred Stock, authorizing 15,000 shares.
Our Series D Preferred Stock offering terms authorized us to raise up to $1,000,000 with an over-allotment of $500,000 in multiple closings
over the course of six months. We received an aggregate of $750,000 in financing in subscription for Series D Preferred Stock, or 7,500
shares.

 The
following are primary terms of the Series D Preferred Stock. The Series D Preferred holders were initially entitled to be paid a special
monthly divided at the rate of 17.5 % per annum. Initially, the Series D Preferred Stock was also entitled to be paid special dividends
in the event cash dividends were not paid when scheduled. If the Company does not pay the dividend within five (5) business days from
the end of the calendar month for which the payment of such dividend to owed, the Company will pay the investor a special dividend of
an additional 3.5%. Any unpaid or accrued special dividends will be paid upon a liquidation or redemption. For any other dividends or
distributions, the Series D Preferred Stock participates with common stock on an as-converted basis. The Series D Preferred holders may
elect to convert the Series D Preferred Stock, in their sole discretion, at any time after a one-year (1) year holding period, by sending
the Company a notice to convert. The conversion rate is equal to the greater of $0.08 or a 20% discount to the average of the three (3)
lowest closing market prices of the common stock during the ten (10) trading day period prior to conversion. The Series D Preferred Stock
is redeemable from funds legally available for distribution at the option of the individual holders of the Series D Preferred Stock commencing
any time after the one (1) year period from the offering closing at a price equal to the initial purchase price plus all accrued but
unpaid dividends, provided, that if the Company gave notice to the investors that it was not in a financial position to redeem the Series
D Preferred, the Company and the Series D Preferred holders are obligated to negotiate in good faith for an extension of the redemption
period. The Company timely notified the investors that it was not in a financial position to redeem the Series D Preferred and the Company
and the investors have engaged in ongoing negotiations to determine an appropriate extension period. The Company may elect to redeem
the Series D Preferred Stock any time at a price equal to initial purchase price plus all accrued but unpaid dividends, subject to the
investors' right to convert, by providing written notice about its intent to redeem. Each investor has the right to convert the
Series D Preferred Stock at least ten (10) days prior to such redemption by the Company. As of the date of this filing there are no preferred D outstanding.

 On
October 31, 2023, Clean Energy Technologies, Inc. (the "Company") filed with the Nevada Secretary of State a certificate
of designation designating 3,500,000 shares of the undesignated and authorized preferred stock of the Company, par value $ 0.001 per share,
as the 15 % Series E Convertible Preferred Stock (the "Series E Preferred Stock") and setting forth the rights, preferences
and limitations of such Series E Preferred Stock.

 The
Series E Preferred Stock has a stated value of $ 1.00
(the "Stated Value") per share. Each
holder of the Series E Preferred Stock is entitled to receive dividends payable on the Stated Value of the Series E Preferred Stock
at a rate of 15% per annum. The
Series E Preferred Stock is convertible at the option of the holder thereof into such number of common stocks of the Company, as is
determined by dividing the Stated Value per share plus accrued and unpaid dividends thereon by the conversion price of 80% of the
lowest VWAP over the last 5 trading days, subject to a 4.99% beneficial ownership limitation. Each holder of Series E
Preferred Stock also enjoys certain voting rights and preferences upon liquidation.

 On
November 8, 2023, Clean Energy Technologies, Inc. (the "Company") entered into an exchange agreement (the
"Agreement") with Mast Hill Fund, L.P., a Delaware limited partnership (the "Holder"), pursuant to which the
Company agreed to issue to the Holder 2,199,387
shares of the newly designated 15 %
Series E Convertible Preferred Stock of the Company, par value $ 0.001
per share (the "Series E Preferred Stock"), in exchange for the outstanding balances and accrued interest of $ 1,955,122,
as of November 8, 2023, under the six promissory notes the Company issued to the Holder from November 2022 to July 2023. Based on the analysis performed by an independent agency, the fair value of the stock, as at the valuation date was
$ 3,210,206. Based on the settlement of $ 1,955,122, the company has recorded a loss of $ 1,255,084.

 The
Company has designated the rights of the Holder with respect to its shares of Series E Preferred Stocks pursuant to that certain Certificate
of Designations, Preferences, and Rights of Series E Convertible Preferred Stock (the "Certificate of Designation"). Additionally, $ 47,904 of dividend has been accrued but not paid as of December 31, 2023.

 Warrants

 A
summary of warrant activity for the periods is as follows:

 On
May 6, 2022, we issued 234,375 warrant shares in connection with the issuance of the promissory note in the principal amount of $ 750,000.00
to Mast Hill Fund at the exercise price per share of 1.60. However, that if the Company consummates an Uplist Offering on or before the
date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the offering
price per share of Common Stock. On December 28, 2022 Mast Hill exercised the warrant in full on
a cashless basis to purchase 100,446 shares of Common Stock.

 On
August 5, 2022, we issued 43,403 warrant shares in connection with the issuance of the promissory note in the principal amount of
$ 138,889 to Jefferson Street at the exercise price per share of 1.60. However, that if the Company consummates an Uplist Offering on
or before the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of
the offering price per share of Common Stock.

 On
August 17, 2022, we issued 46,875 warrant shares in connection with the issuance of the promissory note in the principal amount of
$ 150,000 to First Fire at the exercise price per share of 1.60. However, that if the Company consummates an Uplist Offering on or before
the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the offering
price per share of Common Stock. On March 1, 2023 First Fire exercised the warrant in full on a cashless basis to purchase 33,114 shares
of common stock.

 On
September 1, 2022, we issued 43,403 warrant shares in connection with the issuance of the promissory note in the principal amount
of $ 138,889 to Pacific Pier at the exercise price per share of 1.60. However, that if the Company consummates an Uplist Offering on or
before the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the
offering price per share of Common Stock. On March 1, 2023 Pacific Pier exercised the warrant in full on a cashless basis to purchase
 31,111 shares of common stock. On March 1, 2023 Pacific Pier exercised the warrant in full on a cashless basis to purchase 31,111 shares
of common stock.

 On
September 16, 2022, we issued 93,750 warrant shares in connection with the issuance of the promissory note in the principal amount
of $ 300,000 to Mast Hill Fund at the exercise price per share of 1.60. However, that if the Company consummates an Uplist Offering on
or before the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of
the offering price per share of Common Stock. On April 18, 2023 Mast Hill exercised the warrant in full at the exercise price per share
of $ 1.60.

 On
November 10, 2022 we issued 29,687 warrant shares in connection with the issuance of the promissory note in the principal amount of
$ 300,000 to Mast Hill Fund at the exercise price per share of 1.60. However, that if the Company consummates an Uplist Offering on or
before the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the
offering price per share of Common Stock. On June 23, 2023 Mast Hill exercised the warrant in full at the exercise price per share of
$ 1.60.

 On
November 21, 2022 we issued 29,687 warrant shares in connection with the issuance of the promissory note in the principal amount of
$ 95,000 to Mast Hill Fund at the exercise price per share of 1.60. However, that if the Company consummates an Uplist Offering on or
before the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the
offering price per share of Common Stock. On September 12, 2023 Mast Hill exercised the warrant in full at the exercise price per share
of $ 1.60.

 On
December 26, 2022, we issued 38,437 warrant shares in connection with the issuance of the promissory note in the principal amount
of $ 123,000 to Mast Hill Fund at the exercise price per share of 1.60. However, that if the Company consummates an Uplist Offering on
or before the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of
the offering price per share of Common Stock. On June 14, 2023 Mast Hill exercised the warrant in full at the exercise price per share
of $ 1.60.

 On
January 19, 2023 we issued 58,438 warrant shares in connection with the issuance of the promissory note in the principal amount of $ 187,000
to Mast Hill Fund at the exercise price per share of $ 1.60. However, that if the Company consummates an Uplist Offering on or before
the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the offering
price per share of Common Stock. On May 19, 2023 Mast Hill exercised the warrant in full at the exercise price per share of $ 1.60.

 On
February 13, 2023 we issued 26,701 warrant shares to J.H. Darbie & Co., Inc. according to finder agreement we entered into date April
2022 at the exercise price of $ 5.00.

 On
March 8, 2023 we issued 367,000 warrant shares in connection with the issuance of the promissory note in the principal amount of $ 734,000
to Mast Hill Fund at the exercise price per share of $ 1.60. However, that if the Company consummates an Uplist Offering on or before
the date that is one hundred eighty (180) calendar days after the Issuance Date, then the Exercise Price shall equal 120 % of the offering
price per share of Common Stock. On September 13, 2023 Mast Hill exercised 183,500 shares of the warrant at the exercise price per share
of $ 1.60.

 On
October 25, 2023 Mast Hill exercised the right to purchase 183,500 of the shares of Common Stock ("Warrant Shares") of Clean
Energy Technologies, Inc., because of the Common Stock Purchase Warrant (the "Warrant") issued on March 08, 2023. The exercise
price is $ 1.60 per share. The total purchase price was $ 293,600.

 SCHEDULE OF WARRANT ACTIVITY

 Warrants - Common Share Equivalents

 Weighted Average Exercise price

 Weighted Average Contractual life

 Aggregate Intrinsic Value

 Outstanding December 31, 2022

 325,243

 $
 1.60

 3.99

 -

 Expired

 -

 -

 -

 -

 Additions

 425,438

 1.60

 4.17

 -

 Additions

 26,701

 5.00

 3.90

 -

 Exercised

 707,280

 1.60

 Outstanding December 31, 2023

 70,102

 2.90

 3.71

 -

 Stock
Options

 We
currently have no outstanding stock options

 NOTE
13 – RELATED PARTY TRANSACTIONS

 From
August 2022 through October 2022 Hongzhuo Shuya (Shuya) a 49 % owned subsidiary (also is our consolidated VIE) of CETY HK limited engaged
in the trading of pipeline gas and CNG processing and sales provided Sichuan Leishen Hongzhuo Energy Development Co., Ltd (Leishen) with
approximately total of $ 700,000 loan with a 4-year term to facilitate building of a natural gas recycling station to provide Shuya with
CNG sales. Leishen owns 41% of Shuya and as an entity can obtain the permits and licenses to build and operate the NG Recycling Station
to produce CNG. At the end of the 4-year term of the loan, Leishen has the option to either transfer the NG Recycling Station and all
permits to Shuya or repay the loan.

 Additionally,
Leishen has relationships with the supply side of the NG business and is able to obtain large amounts of NG. As a result, Shuya also
has a supplier relationship with Leishen. Our Board of Directors has approved the transactions between Leishen and the Company. During
the year ended December 31, 2023 Shuya made a $ 5,641,069
 purchase from Leishen. As of December 31, 2023,
we had no accounts receivable from Leishen. However, we had an advance to the supplier of Leishen amounting to $ 466,914.
Additionally, there were accounts payable to Leishen
totaling $ 315,361,
which were recorded for inventory purposes but the advance to supplier account was not decreased. Furthermore, there was a due from related party balance of $ 752,066 and a due to related party balance of $ 103,939.

 Leishen has constructed a CNG refueling station on behalf of Shuya, the loan term is four years. When the CNG refueling
station is ready for operation, Shuya will lease the CNG refueling station from Leishen at a price equivalent to the depreciation amount
of the station; when the assets are eligible for transfer, Leishen will transfer the assets of CNG refueling station to Shuya at the
net asset value.

 Effective August 5, 2022, Shuya entered a 48-month lease for a natural gas
recycle station from Leishen (the 41% shareholder of Shuya), including the operating rights and use rights of all the assets and equipment
in the station. The annual rent is approximately $64,290, to be paid each year in advance, however, it has not been paid since the lease
commenced. Effective August 5, 2022, Shuya entered another 48-month lease for leasing sewage treatment land from Leishen to operate the
natural gas recycling station. The annual rent is approximately $17,137, to be paid each year in advance, which has not been fully paid
since the lease commenced.

 On
May 13, 2021 the Company formed CETY Capital LLC a wholly owned subsidiary of CETY. In addition, the company established Vermont Renewable
Gas LLC ("VRG") with our partner, Synergy Bioproducts Corporation ("SBC") The purpose of the joint venture is
the development of a pyrolysis plant established to convert wood feedstock into electricity and BioChar by using high temperature ablative
fast pyrolysis reactor for which Clean Energy Technology, Inc. holds the license for. The VRG is in Lyndon, Vermont. Based upon the terms
of the members' agreement, CETY Capital LLC owns a 49 % interest and SBC owns a 51 % interest in Vermont Renewable Gas LLC.

 On
June 2, 2023 CETY Renewables executed a turnkey agreement for the design, construction, and delivery of organics to energy plant
with Vermont Renewable Gas, LLC. As a result, CETY has invoiced VRG $ in 2023 ($ 429,999
in total) and $410,486 recorded as related party revenue.

Mahdi, our Chief Executive Officer, owns Billet Electronics, which is distributor of electronic components. From time to time, we purchase
parts from Billet Electronics. In addition, Billet was a supplier of parts and had dealings with current and former customers of the
Company prior to joining the company. The amount of parts purchases in 2023 was $ 6,187. Our Board of Directors has approved the transactions
between Billet Electronics and the Company. The outstanding balance as of December 31, 2023 was $ 0.

 NOTE
14 - WARRANTY LIABILITY

 For
the year ended December 31, 2023 and 2022 there was no change in our warranty liability. We estimate our warranty liability based on
past experiences and estimated replacement cost of material and labor to replace the critical turbine in the units that are still under
warranty. The outstanding balance as of December 31, 2023 and December 31, 2022 was 100,000.

 NOTE
15 – NON-CONTROLLING INTEREST

 On
June 24, 2021 the Company formed CETY Capital LLC a wholly owned subsidiary of CETY. In addition, the company established CETY Renewables
Ashfield LLC ("CRA") a wholly owned subsidiary of Ashfield Renewables Ag Development LLC("ARA") with our partner,
Ashfield AG ("AG"). The purpose of the joint venture was the development of a pyrolysis plant established to convert woody
feedstock into electricity and BioChar by using high temperature ablative fast pyrolysis reactor for which Clean Energy Technology, Inc.
holds the license for. The CRA was located in Ashfield, Massachusetts. Based upon the terms of the members' agreement, the CETY
Capital LLC owned 75 % interest and AG owns a 25 % interest in Ashfield Renewables Ag Development LLC. The agreement with CETY Renewables
Ashfield has been terminated and CETY Renewable Ashfield was dissolved.

 The
consolidated financial statements have deconsolidated the CRA business unit. The Liabilities of CRA has been transferred to Vermont Renewable
Gas LLC ("VRG"), a newly formed entity. CETY retains 49 % equity in VRG.

 On
April 2, 2023 the Company formed CETY Capital LLC a wholly owned subsidiary of CETY. In addition, the company established Vermont Renewable
Gas LLC ("VRG") with our partner, Synergy Bioproducts Corporation ("SBC") The purpose of the joint venture is
the development of a pyrolysis plant established to convert wood feedstock into electricity and BioChar by using high temperature ablative
fast pyrolysis reactor for which Clean Energy Technology, Inc. holds the license for. The VRG is in Lyndon, Vermont. Based upon the terms
of the members' agreement, CETY Capital LLC owns a 49 % interest and SBC owns a 51 % interest in Vermont Renewable Gas LLC.

 The
Company analyzed the transaction under ASC 810 Consolidation, to determine if the joint venture classifies as a Variable Interest Entity
("VIE"). The Company analyzed the transaction under ASC 810 Consolidation, to determine if the joint venture classifies as
a Variable Interest Entity ("VIE"). The Joint Venture qualifies as a VIE based on the fact the JV does not have sufficient
equity to operate without financial support from both parties. According to ASC 810-25-38, a reporting entity shall consolidate a VIE
when that reporting entity has a variable interest (or combination of variable interests) that provides the reporting entity with a controlling
financial interest on the basis of the provisions in paragraphs 810-10-25-38A through 25-38J. The reporting entity that consolidates
a VIE is called the primary beneficiary of that VIE. According to the JV operating agreement, the ownership interests are 49/51 and the
agreement provides for a Management Committee of 3 members. Two of the three members are from Synergy Bioproducts Corporation, and one
is from CETY. Both parties do not have substantial capital at risk and CETY does not have voting interest. However, SBC has controlling
interest and more board votes therefore SBC is the beneficiary of the VIE and as a result we record it as an equity investment. Accordingly,
the Company has elected to account for the joint venture as an equity method investment in accordance with ASC 323 Investments –
Equity Method and Joint Ventures. This decision is a result of the company's evaluation of its involvement with potential variable
interest entities and their respective risk and reward scenarios, which collectively affirm that the conditions necessitating the application
of the variable interest model are not present.

 In
July 2022 JHJ and other three shareholders agreed to form and make total capital contribution of RMB 20 million ($ 2.81 million) with
latest contribution due date in February 2066 into Sichuan Hongzuo Shuya Energy Limited ("Shuya"), JHJ owns 20 % of Shuya.
In August 2022 JHJ purchased 100 % ownership of Sichuan Shunengwei Energy Technology Limited ("SSET") for $ 0, who owns 29 %
of Shuya; Shunengwei is a holding company and did not have any operations nor made any capital contribution into Shuya as of the ownership
purchase date by JHJ; right after the ownership purchase of SSET, JHJ ultimately owns 49 % of Shuya. As a result of Consistent Action
Agreement entered on December 31, 2022 the Company re-analyzed and determined that Shuya is the variable interest entity ("VIE")
of JHJ, and the Company consolidates Shuya into its consolidated financial statements effective on January 1, 2023. The non-controlling
interest of Shuya represents the 41 % equity ownership that is owned by Leishen, and 10 % equity ownership owned by another shareholder.

 NOTE
16 – INCOME TAX

 CETY
Europe

 CETY
Europe is one of the Company's subsidiaries in Italy, and is subject to 24 % corporate income tax rate.

 Hong
Kong

 CETY
HK is incorporated in Hong Kong and is subject to Hong Kong Profits Tax on the taxable income as reported in its statutory
financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate for the first HKD
 2 million of assessable profits is 8.25 % and assessable profits above HKD$ 2 million will continue to be subject to the
rate of 16.5 % for corporations in Hong Kong, effective from the year of assessment 2018/2019.

 CETY
HK did not make any provisions for Hong Kong profit tax as there were no assessable profits derived from or earned in Hong Kong
since inception.

 PRC

 Under
the Enterprise Income Tax ("EIT") Law of the PRC, domestic enterprises and Foreign Investment Enterprises (the
"FIE") are usually subject to a unified 25 % EIT rate while preferential tax rates, tax holidays, and even tax exemption
may be granted on case-by-case basis. From January 1, 2022 to December 31, 2024, small and low-profit enterprises
with annual taxable income exceeding RMB 1 million but not more than RMB 3 million, the actual income to be taxed will be
at 25 % of annual taxable income, and the corporate income tax is paid at the rate of 20 %.

 The
current PRC EIT Law imposes a 10% withholding income tax for dividends distributed by foreign invested enterprises to their immediate
holding companies outside the PRC. A lower withholding tax rate will be applied if there is a tax treaty arrangement between the
PRC and the jurisdiction of the foreign holding company. Distributions to holding companies in Hong Kong that satisfy certain requirements
specified by the PRC tax authorities, for example, will be subject to a 5% withholding tax rate.

 The
provision for income tax consisted of the following:

OF PROVISION OF INCOME TAX

 For the year ended

 December 31,2023

 Current income tax expense

 $
 22,173

 Deferred income tax expense (benefit)

 -

 Total income tax expense

 $
 22,173

 The
following table reconciles the statutory tax rate to the Company's effective tax rate:

 SCHEDULE OF RECONCILIATION OF
STATUTORY TAX RATE

 For the year ended

 December 31,2023

 Federal statutory tax expense (benefit)

 ( 21
)%

 State statutory

 ( 6.8
)%

 Tax rate difference

 0.1
 %

 Permanent difference

 0.2
 %

 Change in valuation allowance

 ( 28.0
)%

 Effective tax rate

 0.4
 %

 The
components of deferred tax assets (liabilities) are as follows:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

 As
 of

 Deferred tax:

 Allowance for doubtful accounts

 $
 5,686

 Net operating loss ("NOL") carrying forwards

 7,021,555

 Operating lease liabilities, net of right of use assets

 2,479

 Advertising expense

 Total deferred tax assets, net

 7,029,720

 Less: valuation allowance

 ( 7,029,720
)

 Total deferred tax assets, net

 —

 The
Company evaluates its valuation allowance requirements at end of each reporting period by reviewing all available evidence, both positive
and negative, and considering whether, based on the weight of that evidence, a valuation allowance is needed. When circumstances cause
a change in management's judgement about the realizability of deferred tax assets, the impact of the change on the valuation allowance
is generally reflected in income from operations. The future realization of the tax benefit of an existing deductible temporary difference
ultimately depends on the existence of sufficient taxable income of the appropriate character within the carry forward period available
under applicable tax law. As of December 31, 2023, the Company's PRC operating entities had $ 0.35 million net operating loss that
can be carried forward to offset future taxable income for five years from the year the loss is incurred; the Company's US
parent had $ 30.08 million net operating loss that can be carried forward, for federal income tax purposes, NOLs arising in tax years
beginning after 2017 may only reduce 80% of a taxpayer's taxable income and may be carried forward indefinitely; for California
income tax purposes, the entire NOL can be carried forward up to 20 years; the Company's Italy operating entity had $ 87,148 net
operating loss that can be carried forward indefinitely to offset future taxable income, losses arising in the first three years of activity
can be offset with 100% of taxable income, after that, tax losses can only be offset with taxable income for an amount not exceeding
80% of the taxable income. As of December 31, 2023 due to uncertainties surrounding future utilization on these NOLs, the Company
recorded valuation allowance of $ 7.03 million, respectively, against the deferred tax assets based upon management's assessment
as to their realization.

 As
of December 31, 2023 and 2022, the Company had no significant uncertain tax positions that qualify for either recognition or disclosure
in the financial statements. The Company recognizes interest and penalties related to significant uncertain income tax positions
in other expense if any; however, there were no such interest and penalties as of December 31, 2023 and 2022.

 NOTE
17 – THE STATUTORY RESERVES

 The
Company's ability to pay dividends primarily depends on it receiving funds from its subsidiaries. PRC laws and regulations permit
payments of dividends by the Company's PRC subsidiaries only out of the subsidiary's retained earnings, if any, as determined
in accordance with PRC accounting standards and regulations. The results of operations reflected in the financial statements prepared
in accordance with US GAAP differ from those reflected in the statutory financial statements of the Company's PRC subsidiaries.

 In
accordance with the PRC Regulations on Enterprises with Foreign Investment and their articles of association, a foreign-invested enterprise
("FIE") established in the PRC is required to provide statutory reserves, which are appropriated from net profit as reported
in the FIE's PRC statutory accounts. An FIE is required to allocate at least 10 % of its annual after-tax profit to the surplus
reserve until such reserve reaches 50 % of its respective registered capital based on the FIE's PRC statutory accounts. Appropriations
to other funds are at the discretion of the BOD for all FIEs. The aforementioned reserves can only be used for specific purposes and
are not distributable as cash dividends. Additionally, shareholders of an FIE are required to contribute capital to satisfy the registered
capital requirement of the FIE. Until such contribution of capital is satisfied, the FIE is not allowed to repatriate profits to its
shareholders, unless otherwise approved by the State Administration of Foreign Exchange.

 Additionally,
in accordance with the Company Laws of the PRC, a domestic enterprise is required to provide surplus reserve at least 10% of its annual
after-tax profit until such reserve has reached 50 % of its respective registered capital based on the enterprise's PRC statutory
accounts. A domestic enterprise is also required to have a discretionary surplus reserve, at the discretion of the BOD, from the profits
determined in accordance with the enterprise's PRC statutory accounts. Appropriation to such reserve by the Company is based on
profit arrived at under PRC accounting standards for business enterprises for each year. The profit arrived at must be set off against
any accumulated losses sustained by the Company in prior years, before allocation is made to the statutory reserve. The aforementioned
reserves can only be used for specific purposes and are not distributable as cash dividends. Technology was established as domestic enterprises
and therefore are subject to the above-mentioned restrictions on distributable profits.

 As
a result of these PRC laws and regulations that require annual appropriations of 10 % of after-tax income to be set aside prior to payment
of dividends as general reserve fund, the Company's PRC subsidiaries are restricted in their ability to transfer a portion of their
net assets to the Company as a dividend.

 In
addition, according to Administrative Measures for the Collection and Utilization of Enterprise Work Safety Funds issued by the PRC Ministry
of Finance and the State Administration of Work Safety, for the companies with dangerous goods production or storage, the company is
required to make a special reserve for the use of enhancing and improving its safe production conditions. Under PRC GAAP, the reserve
is recorded as selling expense; however, under US GAAP, since the expense has not been incurred and the Company will record cost of sales
for safety related expenses when it is actually happened or incurred, this special reserve was recorded as an appropriation of its after-tax
income. The reserve is calculated at a rate of 15 % of total sales.

 NOTE
18 – SUBSEQUENT EVENTS

 On
January 3, 2024, Clean Energy Technologies, Inc. (the "Company") entered into a securities purchase agreement (the
"Agreement") with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (the
"Buyer"), pursuant to which the Company agreed to issue and sell to the Buyer the promissory note of the Company in the
principal amount of $ 143,750
(the "Note"), which amount is the $ 125,000
actual amount of the purchase price (the "Purchase Price") plus an original issue discount in the amount of $ 18,750. The
Note is convertible into shares of common stock of the Company at a fixed price of $1.60, par value $ 0.001
per share (the "Common Stock"), upon the terms and subject to the limitations and conditions set forth in such Note.
This principal and the interest balance of this note was paid off on March 5, 2024.

 As
a condition to the sale of the Note, the Company issued to the Buyer 10,000 shares (the "Commitment Shares") of Common Stock.
On the closing date, the Buyer shall further withhold from the Purchase Price (i) a non-accountable sum of $ 5,000 to cover the Buyer's
legal fees and (ii) a sum of $ 7,188 to cover the Company's fees owed to Revere Securities LLC, a registered broker-dealer, in
connection with this transaction.

 On
February 2, 2024, Clean Energy Technologies, Inc. (the "Company") entered into a securities purchase agreement (the
"Agreement") with Coventry Enterprises LLC, a Delaware limited liability company (the "Buyer"), pursuant to
which the Company agreed to issue and sell to the Buyer the promissory note of the Company in the principal amount of $ 92,000
(the "Note"), which amount is the $ 80,000
actual amount of the purchase price (the "Purchase Price") plus an original issue discount in the amount of $ 10,120. The
Note is convertible into shares of common stock at a fixed price of $1.60 of the Company, par value $ 0.001
per share (the "Common Stock"), upon the terms and subject to the limitations and conditions set forth in such
Note.

 As
a condition to the sale of the Note, the Company issued to the Buyer 20,000 shares (the "Commitment Shares") of Common Stock.

 On
March 4, 2024, Clean Energy Technologies, Inc. (the "Company") entered into a securities purchase agreement (the
"Agreement") with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (the
"Buyer"), pursuant to which the Company agreed to issue and sell to the Buyer the promissory note of the Company in the
principal amount of $ 280,500
(the "Note"), which amount is the $ 255,000
actual amount of the purchase price (the "Purchase Price") plus an original issue discount in the amount of $ 25,500. The
Note is convertible into shares of common stock at a fixed price of $1.60 of the Company, par value $ 0.001
per share (the "Common Stock"), upon the terms and subject to the limitations and conditions set forth in such
Note.

 As
a condition to the sale of the Note, the Company issued to the Buyer 20,000 shares (the "Commitment Shares") of Common Stock.
On the closing date, the Buyer shall further withhold from the Purchase Price (i) a non-accountable sum of $ 6,000 to cover the Buyer's
legal fees and (ii) a sum of $ 5,563 to cover the Company's fees owed to Revere Securities LLC, a registered broker-dealer, in
connection with this transaction.

 On
March 15, 2024, Clean Energy Technologies, Inc., a Nevada corporation, (the "Company") and certain individual investors
("Subscribers") entered into a subscription agreement pursuant to which the Company agreed to sell up to 2,000,000
units (each a "Unit" and together the "Units") to the Subscribers for an aggregate purchase price of $ 900,000,
or $ 0.45
per Unit, with each unit consisting of one share of common stock, par value $.001
per share (the "Common Stock") and a warrant (the "Warrant") to purchase one share of common stock. The
Warrant is exercisable at exercise price of $ 1.60
per share, expiring one year from the date of issuance.

 On
January 1, 2024 and effective on the same date., JHJ, SSET and Xiangyueheng entered into the Agreement on the Termination of the Concerted
Action Agreement (the "Termination Agreement"), pursuant to which the parties release each other from any and all obligations
under the CAA. Due to the Termination Agreement, the Company now holds less than 50% of the voting rights in Shuya. The Company has determined
that Shuya no longer constitutes a VIE and the Company will not consolidate Shuya into its consolidated financial statements on or after
January 1, 2024.

 Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

 None.

 Item
9a. Controls and Procedures.

 Evaluation
of Disclosure Controls and Procedures

 (a)
Evaluation of Disclosure Controls and Procedures

 We
maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports pursuant
to the Securities Exchange Act, of 1934, as amended, or the Exchange Act, is recorded, processed, summarized and reported within the
time periods specified in the rules and forms, and that such information is accumulated and communicated to us, including our chief executive
officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure.

 As
required by Rules 13a-15(b) of the Exchange Act, an evaluation as of December 31, 2023 was conducted under the supervision and with the
participation of our management, including our chief executive officer and chief financial officer, of the effectiveness of our disclosure
controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based upon that evaluation, our chief executive
officer and chief financial officer concluded that our disclosure controls and procedures were not effective as of December 31, 2023.

 (b)
Report of Management on Internal Control over Financial Reporting

 We
are responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial
reporting is defined in Rule 13a-15(f) and 15d-15(f) of the Exchange Act. Under the supervision and with the participation of our management
including our of our chief executive officer and principal financial officer, we conducted an evaluation of the effectiveness of our
internal control over financial reporting based on the 2013 framework in Internal Control-Integrated Framework issued by the Committee
of Sponsoring Organizations of the Treadway Commission, or COSO.

 Based
on our evaluation under the 2013 Internal Control-Integrated Framework, our chief executive officer and chief financial officer concluded
that our internal control over financial reporting was not effective as of December 31, 2023.

 a
lack of sufficient in-house qualified accounting staff;

 inadequate
controls and segregation of duties due to limited resources and number of employees;

 material
purchase price allocation of Shuya transactions which are heavily dependent upon the use of estimates and assumptions and require us
using consultants.

 To
mitigate the items identified in the assessment, we rely heavily on direct management oversight of transactions, along with the use of
legal and accounting professionals/consultants. As we grow, we expect to increase the number of employees, which would enable us to implement
adequate segregation of duties within the internal control framework.

 (c)
Changes in Internal Control over Financial Reporting

 There
have been no other changes in our internal control over financial reporting that occurred during the period covered by this Annual Report
on Form 10-K for the year ended 2023, that have materially affected, or are reasonably likely to materially affect, our internal control
over financial reporting.

 PART
II—OTHER INFORMATION

 Item
1. Legal Proceedings

 From
time to time, the Company is involved in litigation incidental to the conduct of its business. The Company is presently not involved
in any legal proceedings which in the opinion of management are likely to have a material adverse effect on the Company's consolidated
financial position or results of operations.

 Item
1A. Risk Factors.

 There
have been no material changes in the Company's risk factors from those previously disclosed in our Annual Report on Form 10-K for
the year ended December 31, 2023.

 PART
III

 Item
10. Directors, Executive Officers and Corporate Governance

 Our
officers and directors are the individuals listed below as of December 31, 2023:

 Name

 Age

 Position

 Mahdi

 President,
 CEO, Director

 Calvin
 Pang

 CFO,

 Lauren
 Morrison

 Independent

 Mathew
 Smith

 Independent

 Ted
 Hsu

 Independent

 There
are no family relationships among any of the directors or the executive officer.

 Biographical
Information.

 Mr.
Kambiz Mahdi, served as President and Chief Executive Officer of the Company from 1996 until December of 2005 and again from
July 2009 until present. Mr. Mahdi also started Billet Electronics a global supply chain provider of products, services and solutions
in the technology sector in 2007. Mr. Mahdi has a BS degree in Electrical Engineering from California State University of Northridge.
Mr. Mahdi has not served on any other boards of public companies in the past five years.

 Our
Board of Directors selected Mr. Mahdi to serve as a director because he is our Chief Executive Officer and has served in various executive
roles with our company for 15 years, with a focus on electrical design & manufacturing, sales and operations and his insight into
the development, marketing, finance, and operations aspects of our company. He has expansive knowledge of engineering and manufacturing
industry and relationships with chief executives and other senior management at technology companies. Our Board of Directors believes
that Mr. Mahdi brings a unique and valuable perspective to our Board of Directors.

 Mr.
Calvin Pang has served as our Chief Financial Officer since March 9, 2020. Since 2015 Mr. Pang has been the Managing Director
of Megawell Capital Limited. From 2007 to 2015, he was a banker at UBS AG managing portfolios of Hong Kong and China based investors.
Mr. Pang graduated from the Olin School of Business at Washington University in St. Louis with a bachelor's degree in business
and finance. We believe that Mr. Pang is well qualified to serve as a member of our Board of Directors due to his extensive experience
in U.S. and Asian corporate finance and may assist us in developing relationships with financial institutions.

 Mr.
Ted Hsu has almost 3 decades of experience as a commercial banker. He joined Preferred Bank in 1992 and currently serves as the
bank's Executive Vice President. Preferred Bank is one of the largest independent commercial banks in California. He has extensive
experience in servicing clients in various sectors including real estate, construction, commercial and industrial. Recently, Mr. Hsu
began to cover companies in the renewable energy sector as it is the growing trend. We believe Mr. Hsu is well qualified to serve as
a member of our Board of Directors due to his experience in commercial lending.

 Ms.
Lauren Morrison is an international business development consultant whose career has had a major focus in the clean energy, smart
building, and sustainability sectors. She has worked with companies of all sizes and areas of specialization, from concept to early-stage
and maturity, on global growth strategies, branding, and product development. Lauren is interested in the integration and optimization
of technologies that measurably increase energy efficiency, and the application of monitoring and data analysis that iteratively improves
building processes, practices, and net functionality. As part of a leading-edge model smart city development in Asia, Lauren saw first-hand
the critical imperative for global collaboration to address climate challenges as they rapidly eclipse geographic boundaries. She is
passionate about expanding the conversation on this topic to include the widest possible audience of stakeholders. Our Board of Directors
believes that Ms. Morrison brings a unique and valuable international perspective and clean energy experience to our Board of Directors

 Mr.
Matthew Graham Smith has over a decade of experience working in a range of overseas and domestic roles with the Australian Department
of Foreign Affairs and Trade (DFAT) and has held positions as Product Manager, Major Surface Ships, Department of Defense, Senior Administrative
Officer, Consulate-General, Chengdu, Senior Administrative Officer, Consulate-General, Chengdu, Post Opener, Consulate-General Surabaya,
Indonesia. Mr. Smith is a Certified Practicing Accountant in Australia and will serve as the Chairman of our Audit Committee upon the
listing of our common stock on Nasdaq. Mr. Smith has received a Bachelor of Laws and a Bachelor of Commerce in Finance from Australian
National University and was an exchange student at the Olin Business School, Washington University.

 Each
director holds office until the earlier of his or her death, resignation, removal from office by the stockholders, or his or her respective
successor is duly elected and qualified. There are no arrangements or understandings between any of our nominees or directors and any
other person pursuant to which any of our nominees or directors have been selected for their respective positions. No nominee or director
is related to any executive officer or any other nominee or director.

 Board
Diversity Matrix (As of April 15, 2024)

 Did
 Not

 Disclose

 Female

 Male

 Gender

 Gender
 Identity

 Directors

 Demographic
 Background

 Asian

 White

 Corporate
Governance

Attendance at Meetings of the Board of Directors

 Our
Board of Directors held 4 meetings during the fiscal year ended December 31, 2023. Each of our incumbent directors attended at least
75.0% of the aggregate total number of meetings of our Board of Directors held during the period for which he served as a director.

Attendance at Annual Meetings of the Shareholders

 Although
we have no policy with regard to attendance by the members of our Board of Directors at our annual meetings, we invite and encourage
the members of our Board of Directors to attend our annual meetings to foster communication between Shareholders and our Board of Directors.

 Stockholder
Communication with the Board of Directors

 Any
stockholder who desires to contact members of our Board of Directors, or a specified committee of our Board of Directors, may do so by
writing to: Clean Energy Technologies, Inc., Board of Directors, 1340 Reynolds Avenue, Irvine, California 92614, Attention: Secretary.
Communications received will be distributed by our Secretary to such member or members of our Board of Directors as deemed appropriate
by our Secretary, depending on the facts and circumstances outlined in the communication received.

Independence

 We
had a five-member Board of Directors in 2023 of which three members are independent directors.

 Committees
of our Board of Directors

 Audit
Committee. Our audit committee will consist of Lauren Morrison and Ted Hsu. Lauren Morrison is the chairperson of the audit committee.
We have determined that Lauren Morrison and Ted Hsu each satisfy the "independence" requirements of Nasdaq Listing Rule 5605(a)(2)
and meets the independence standards under Rule 10A-3 under the Exchange Act. We have determined that Ted Hsu qualifies as an "audit
committee financial expert." The audit committee oversees our accounting and financial reporting processes and the audits of the
financial statements of our company. The audit committee is responsible for, among other things: (a) representing and assisting the Board
in its oversight responsibilities regarding the Company's accounting and financial reporting processes, the audits of the Company's
financial statements, including the integrity of the financial statements, and the independent auditors' qualifications and independence;
(b) overseeing the preparation of the report required by SEC rules for inclusion in the Company's annual proxy statement; (c) retaining
and terminating the Company's independent auditors; (d) approving in advance all audit and permissible non-audit services to be
performed by the independent auditors; and (e) approving related person transactions.

 Compensation
Committee. Our compensation committee consist of Lauren Morrison and Ted Hsu. Ted Hsu is the chairperson of our compensation
committee. We have determined that Lauren Morrison and Ted Hsu are "independent," as such term is defined for directors and
compensation committee members in the listing standards of the NASDAQ Stock Market LLC. Additionally, each qualify as "non-employee
directors" for purposes of Rule 16b-3 under the Securities Exchange Act of 1934 and as "outside directors" for purposes
of Section 162(m) of the Internal Revenue Code. The Committee has been established to: (a) assist the Board in seeing that a proper system
of long-term and short-term compensation is in place to provide performance oriented incentives to attract and retain management, and
that compensation plans are appropriate and competitive and properly reflect the objectives and performance of management and the Company;
(b) assist the Board in discharging its responsibilities relating to compensation of the Company's executive officers; (c) evaluate
the Company's Chief Executive Officer and set his or her remuneration package; and (d) make recommendations to the Board with respect
to incentive compensation plans and equity-based plans.

 Nominating
and Corporate Governance Committee. Our nominating and corporate governance committee will consist of Matthew-Graham Smith, Lauren
Morrison and Ted Hsu. Lauren Morrison is the chairperson of our nominating and corporate governance committee. We have determined that
each of Matthew-Graham Smith, Lauren Morrison and Ted Hsu qualify as "independent" as that term is defined by Nasdaq Listing
Rule 5605(a)(2). The Committee is responsible for: (a) assisting the Board in determining the desired experience, mix of skills and other
qualities to provide for appropriate Board composition, taking into account the current Board members and the specific needs of the Company
and the Board; (b) identifying qualified individuals meeting those criteria to serve on the Board; (c) proposing to the Board the Company's
slate of director nominees for election by the shareholders at the Annual Meeting of Shareholders and nominees to fill vacancies and
newly created directorships; (d) reviewing candidates recommended by shareholders for election to the Board and shareholder proposals
submitted for inclusion in the Company's proxy materials; (e) advising the Board regarding the size and composition of the Board
and its committees; (f) proposing to the Board directors to serve as chairpersons and members on committees of the Board; (g) coordinating
matters among committees of the Board; (h) proposing to the Board the slate of corporate officers of the Company and reviewing the succession
plans for the executive officers; (i) recommending to the Board and monitoring matters with respect to governance of the Company; and
(j) overseeing the Company's compliance program.

 Term
of Office

 Our
directors hold office until the next annual meeting of shareholders of the Company and until their successors have been elected and qualified.
Our officers are elected by the board of directors and serve at the discretion of the board of directors.

 Family
Relationships

 There
are no other family relationships between any of our directors or executive officers. There are no arrangements or understandings between
our directors and directors and any other person pursuant to which they were appointed as an officer and director of the Company.

 Involvement
in Certain Legal Proceedings

 During
the past ten years no current director, executive officer, promoter or control person of the Company has been involved in the following:

 (1)
A petition under the Federal bankruptcy laws or any state insolvency law which was filed by or against, or a receiver, fiscal agent or
similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner
at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer
at or within two years before the time of such filing;

 (2)
Such person was convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations
and other minor offenses);

 (3)
Such person was the subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent
jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities:

 i.
Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage
transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing,
or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment
company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection
with such activity;

 ii.
Engaging in any type of business practice; or

 iii.
Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of
Federal or State securities laws or Federal commodities laws;

 (4)
Such person was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State
authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described
in paragraph (f)(3)(i) of this section, or to be associated with persons engaged in any such activity;

 (5)
Such person was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State
securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or
vacated;

 (6)
Such person was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated
any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been
subsequently reversed, suspended or vacated;

 (7)
Such person was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not
subsequently reversed, suspended or vacated, relating to an alleged violation of:

 i.
Any Federal or State securities or commodities law or regulation; or

 ii.
Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent
injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or
prohibition order; or

 iii.
Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

 (8)
Such person was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory
organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section
1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has
disciplinary authority over its members or persons associated with a member.

 Shareholder
Communications to the Board

 Shareholders
who are interested in communicating directly with members of the Board, or the Board as a group, may do so by writing directly to the
individual Board member c/o Secretary, Clean Energy Technologies, Inc., 1340 Reynolds Avenue, Irvine, CA 92614. The Company's Secretary
will forward communications directly to the appropriate Board members. If the correspondence is not addressed to the particular member,
the communication will be forwarded to a Board member to bring to the attention of the Board. The Company's Secretary will review
all communications before forwarding them to the appropriate Board member.

Nomination Procedures and Diversity

 As
outlined above, in selecting a qualified nominee, our Board of Directors considers such factors as it deems appropriate, which may include:
the current composition of our Board of Directors; the range of talents of a nominee that would best complement those already represented
on our Board of Directors; the extent to which a nominee would diversify our Board of Directors; a nominee's standards of integrity,
commitment and independence of thought and judgment; a nominee's ability to represent the long-term interests of our shareholders
as a whole; a nominee's relevant expertise and experience upon which to be able to offer advice and guidance to management; a nominee
who is accomplished in his or her respective field, with superior credentials and recognition; and the need for specialized expertise.
While we do not have a formal diversity policy, we believe that the backgrounds and qualifications of our directors, considered as a
group, should provide a significant composite mix of experience, knowledge and abilities that will allow our Board of Directors to fulfill
its responsibilities. Applying these criteria, our Board of Directors considers candidates for membership on our Board of Directors suggested
by its members, as well as by our Shareholders. Members of our Board of Directors annually review our Board of Directors' composition
by evaluating whether our Board of Directors has the right mix of skills, experience and backgrounds.

 Our
Board of Directors may also consider an assessment of its diversity, in its broadest sense, reflecting, but not limited to, age, geography,
gender and ethnicity.

 Our
Board of Directors identifies nominees by first evaluating the current members of our Board of Directors willing to continue in service.
Current members of our Board of Directors with skills and experience relevant to our business and who are willing to continue in service
are considered for re-nomination. If any member of our Board of Directors does not wish to continue in service or if our Board of Directors
decides not to nominate a member for re-election, our Board of Directors will review the desired skills and experience of a new nominee
in light of the criteria set forth above.

 Our
Board of Directors also considers nominees for our Board of Directors recommended by Shareholders. Notice of proposed stockholder nominations
for our Board of Directors must be delivered in accordance with the requirements set forth in our bylaws and SEC Rule 14a-8 promulgated
under the Securities Exchange Act of 1934, as amended, or the Exchange Act. Nominations must include the full name of the proposed nominee,
a brief description of the proposed nominee's business experience for at least the previous five years and a representation that
the nominating stockholder is a beneficial or record owner of our common stock. Any such submission must be accompanied by the written
consent of the proposed nominee to be named as a nominee and to serve as a director if elected. Nominations should be delivered to: Clean
Energy Technologies, Inc., Board of Directors, 2990. Redhill Ave, Costa Mesa, California 92626, Attention: Chief Executive Officer.

 Our
Board of Directors will recommend the slate of directors to be nominated for election at the annual meeting of shareholders. We have
not and do not currently employ or pay a fee to any third party to identify or evaluate, or assist in identifying or evaluating, potential
director nominees.

 Board
of Directors Role in Risk Oversight

 Our
Board of Directors oversees our shareholders' interest in the long-term success of our business strategy and our overall financial
strength.

 Our
Board of Directors is actively involved in overseeing risks associated with our business strategies and decisions. It does so, in part,
through its approval of all acquisitions and business-related investments and all assumptions of debt, as well as its oversight of our
executive officers pursuant to annual reviews. Our Board of Directors is also responsible for overseeing risks related to corporate governance
and the selection of nominees to our Board of Directors.

 In
addition, the Board reviews the potential risks related to our financial reporting. The Board meets with our Chief Financial Officer
and communicates with representatives of our independent registered public accounting firm on a quarterly basis to discuss and assess
the risks related to our internal controls. Additionally, material violations of our Code of Ethics and related corporate policies are
reported to our Board of Directors.

 Code
of Business Conduct and Ethics

 We
have adopted our Code of Ethics, which contains general guidelines for conducting our business and is designed to help our directors,
employees and independent consultants resolve ethical issues in an increasingly complex business environment. Our Code of Ethics applies
to our Principal Executive Officer, Principal Financial Officer, and persons performing similar functions and all members of our Board
of Directors. Our Code of Ethics covers topics including, but not limited to, conflicts of interest, confidentiality of information,
and compliance with laws and regulations. Shareholders may request a copy of our Code of Ethics, which will be provided without charge,
by writing to: Clean Energy Technologies, Inc., Board of Directors, 1340 Reynolds Avenue, Unit 120, Costa Mesa, California 92614; Attention:
Chief Executive Officer.

 Compensation
of Directors

 The
key objective of our non-employee directors' compensation program is to attract and retain highly qualified directors with the
necessary skills, experience and character to oversee our management. We currently use equity-based compensation to compensate our directors
due to our restricted cash flow position; however, we may in the future provide cash compensation to our directors. The use of equity-based
compensation is designed to recognize the time commitment, expertise and potential liability relating to active Board service, while
aligning the interests of our Board of Directors with the long-term interests of our shareholders.

 In
addition to the compensation provided to our non-employee director, which is detailed below, each non-employee director is reimbursed
for any reasonable out-of-pocket expenses incurred in connection with attending in-person meetings of the Board of Directors and Board
committees, as well for any fees incurred in attending continuing education courses for directors.

 Fiscal
years 2022 and 2023 Annual Cash Compensation

 We
currently do not provide cash compensation to our directors and as such did not provide any cash compensation during the years ended
December 31, 2022 and 2023.

 Fiscal
years 2022 and 2023 Equity Compensation

 Yearly
Restricted Share Awards

 Under
the terms of the discretionary restricted share unit grant provisions of our 2006 Incentive Stock Plan and our 2011 Omnibus Incentive
Plan, which we refer to as the 2006 Plan and 2011 Plan, respectively, each non-employee director is eligible to receive grants of restricted
common stock share awards at the discretion of our Board of Directors. These yearly restricted share unit awards vest in full on the
grant date.

 For
the year ended December 31, 2023, there were no stock options granted.

 Discretionary
Grants

 Under
the terms of the discretionary option grant provisions of the 2006 Plan and the 2011 Plan, non-employee directors are eligible to receive
stock options or other stock awards granted at the discretion of the Board of Directors. No director received stock awards pursuant to
the discretionary grant program during fiscal year 2022 or 2023.

Summary Compensation in fiscal years 2022 and 2023

 None.

 Change
of Control and Termination Provisions

 None.

 Compliance
with Section 16(a) of the Exchange Act

 Section
16(a) of the Securities Exchange Act of 1934 requires our directors and executive officers and persons who beneficially own more than
ten percent of a registered class of our equity securities to file with the SEC initial reports of ownership and reports of change in
ownership of common stock and other equity securities of the Company. Officers, directors and greater than ten percent stockholders are
required by SEC regulations to furnish us with copies of all Section 16(a) forms they file. Based solely upon a review of Forms 3 and
4 and amendments thereto furnished to us under Rule 16a-3(e) during the year ended December 31, 2022, Forms 5 and any amendments thereto
furnished to us with respect to the year ended December 31, 2022, and the representations made by the reporting persons to us, we believe
that during the year ended December 31, 2022, our executive officers and directors and all persons who own more than ten percent of a
registered class of our equity securities complied with all Section 16(a) filing requirements with the exception of MGWI which filed
a late Form 4.

 Item
11. Executive Compensation.

 The
following table sets forth the fiscal year 2022 and 2023 compensation for:

 Mahdi, our Chief Executive Officer

 The
executive officers included in the Summary Compensation Table are referred to in this Form 10K as our named executive officers. A detailed
description of the plans and programs under which our named executive officers received the following compensation can be found in the
section entitled " Compensation Discussion and Analysis."

 Summary
Compensation Table

 Name and Principal

 Salary

 Bonus

 Stock Awards

 Option Awards

 Non-equity Incentive Plan Compensation

 Change in Pension Value and Nonqualified Deferred Compensation Earnings

 All Other Compensation

 Total

 Position

 Year

 ($)

 ($)(3)

 ($)(4)

 ($)

 ($)

 ($)

 ($)

 ($)

 Kambiz Mahdi (1)

 2023

 $
 275,000

 $
 137,500

 $

 $

 -

 $

 -

 $
 -

 $
 -

 $
 412,500

 Chief Executive Officer

 2022

 $
 275,000

 $
 137,500

 $
 -

 $

 -

 $

 -

 $
 -

 $
 -

 $
 412,500

 Calvin Pang (2) Chief Financial Officer

 2023

 $
 150,000

 $
 75,000

 $
 -

 $

 -

 $

 -

 $
 -

 $
 -

 $
 191,858

 1)

 On
October 18, 2018 we entered into an at will employment agreement with Mr. Mahdi, with an annual salary of $275,000. This agreement may
be terminated at any time.

 2)

 On
 March 24, 2023 we entered into an at will employment agreement with Mr. Pang, with an annual salary of $150,000. This agreement may
 be terminated at any time.

 3)

 Mahdi is entitled to 50% of his salary in cash bonus,
 this bonus was approved by the board of directors for fiscal year 2022, 2023, and 2024. Mr. Pang is entitled to 50% of his salary
 in cash bonus, this bonus was approved by the board of directors for 2023, and 2024.

 Outstanding
Equity Awards at 2023 Fiscal Year-End

 There
are no outstanding options or stock awards held by our named executive officers as of December 31, 2023.

 Executive
Employment Agreements

 On
October 18, 2018 we entered into an at-will employment agreement with Mr. Mahdi, with an annual salary of $275,000. This agreement may
be terminated at any time. In addition, as part of the agreement Mr. Mahdi was to be issued 500,000 shares of our common stock, as additional
compensation.

 On
March 24, 2023 we entered into an at will employment agreement with Mr. Pang, with an annual salary of $150,000. This agreement may be
terminated at any time.

 Potential
Payments upon Termination or Change of Control

 Severance
Benefits

 Mr.
Mahdi will receive a severance benefit consisting of a single lump sum cash payment equal the salary that Mr. Mahdi would have been entitled
to receive through the remainder or the Employment Period or One (1) year, whichever is greater.

 Item
12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 The
following table shows, as of April 15, 2023 the number of shares of our common stock beneficially owned by (1) any person who is known
by us to be the beneficial owner of more than 5.0% of the outstanding shares of our common stock; (2) our directors and former directors;
(3) our named executive officers; and (4) all of our directors and executive officers as a group. The percentage of common stock beneficially
owned is based on 39,152,455 shares of our common stock outstanding as of December 31, 2023. Beneficial ownership is determined in accordance
with the rules of the SEC and generally includes securities over which a person has voting or investment power and securities that a
person has the right to acquire within 60 days. Unless otherwise provided, the address of each beneficial owner listed is c/o Clean Energy
Technologies, Inc., Board of Directors, 1340 Reynolds Avenue, Unit 120, Irvine, California 92614. We need to footnote how the voting
rights are allocated and add them to the number of shares.

 Name of Beneficial Owners (1)

 Number of Shares
 of Common Stock Beneficially Owned

 Percentage

 5% Holders

 MGW Investments I Limited (1)

 24,044,101

 56.38

 Officers and Directors

 Calvin Pang (2)

 24,044,101

 56.38
 %

 Kambiz Mahdi – Director and CEO (3)

 2,317,541

 5.43
 %

 All directors and officers as a group

 26,361,642

 61.82
 %

 1)
Conversion to shares of Common Stock is calculated based on 0.12 for the price of our common stock.

 2)
Calvin Pang has voting and investment power over all of our common stock held by MGW Investment I Limited ("MGWI"). MGWI
holds 24,044,101

 3)
The shares of common stock are held directly by the Kambiz and Bahareh Mahdi Living Trust and indirectly by Kambiz Mahdi and Bahareh
Mahdi as Trustees.

 Item
13. Certain Relationships and Related Transactions, and Director Independence.

Independence

 We
have a five-member Board of Directors in 2023 of which three members are independent directors. Due to the size of our company and the
difficulty in finding directors that have experience in our industry, 2 of our directors can be deemed an "independent
directors."

 While
our stock is listed on the NASDAQ Stock Exchange, our independent directors would qualify as independent under the rules of the
NASDAQ Stock Exchange.

 Review
of Related Person Transactions

 Our
Code of Business Conduct and Ethics provides guidance for addressing actual or potential conflicts of interests, including those that
may arise from transactions and relationships between us and our executive officers or directors, such as:

 transaction between the company and any executive are prohibited, unless otherwise approved by the Board;

 Activities
 that may interfere with an executive's performance in carrying out company responsibilities;

 Activities
 that call for the use of the company's influence, resources or facilities; and

 Activities
 that may discredit the name or reputation of the company.

 We
have various procedures in place to identify potential related person transactions, and the Board of Directors and a separate compliance
committee work together in reviewing and considering whether any identified transactions or relationships are covered by the Code of
Business Conduct and Ethics.

 Transactions
with Related Persons

 Please
see note 10 in the notes to the financial statement for a discussion on transactions with related parties.

 Item
14. Principal Accounting Fees and Services.

 The
aggregate fees billed to us by our principal accountant (Fruci & Associates II, PLLC) for services rendered during the fiscal years
ended December 31, 2022 and December 31, 2023 are set forth in the table below:

 Services:

 2023

 2022

 Audit Fees (1)

 $
 231,815

 $
 86,844

 Audit Related Fees (2)

 22,500

 Tax Fees (3)

 -

 All Other fees

 -

 -

 Total

 $
 231,815

 $
 109,344

 (1)

 Audit
 fees billed in 2023 and 2022 consisted of fees related to the audit of our annual financial statements, reviews of our quarterly
 financial statements, and statutory and regulatory audits, consents and other services related to filings with the SEC.

 (2)

 Audit-related
 fees related to financial accounting and reporting consultations, assurance and related services.

 (3)

 Tax
 services consist of tax compliance and tax planning and advice.

 The
Board of Directors pre-approves all auditing services and permitted non-audit services (including the fees and terms thereof) to be performed
for us by our independent registered public accounting firm, subject to the de minimis exceptions for non-audit services described in
Section 10A(i)(1)(b) of the Exchange Act and the rules and regulations of the SEC. All services rendered by our principal auditor for
the years ended December 31, 2021 and 2020 were pre-approved in accordance with the policies and procedures described above.

 Auditor
Independence

 The
Board of Directors has considered whether the provision of the above noted services is compatible with maintaining our independent registered
public accounting firm's independence and has concluded that the provision of such services has not adversely affected the independent
registered public accounting firm's independence.

 Board
of Directors Audit Report to Shareholders

 Since
we do have a standing Audit Committee our full Board of Directors oversees our financial reporting process. Our management has the
primary responsibility for our financial statements as well as our financial reporting process, principles and internal controls. The
independent registered public accounting firm is responsible for performing an audit of our financial statements and expressing an opinion
as to the conformity of such financial statements with accounting principles generally accepted in the United States of America.

 In
this context, the Board of Directors has reviewed and discussed our audited financial statements as of December 31, 2022 and December
31, 2023 with management and the independent registered public accounting firm. The Board of Directors has discussed with the independent
registered public accounting firm the matters required to be discussed by the Statement on Auditing Standards No. 61, Professional
Standards, as amended. In addition, the Board of Directors has received the written disclosures and the letter from the independent
registered public accounting firm required by Independence Standards Board Standard No. 1, Independence Discussions with Audit Committees,
as currently in effect, and it has discussed their independence with us.

 Item
15. Exhibits, Financial Statement Schedules.

 (a)(1) Financial Statements:

 The consolidated financial statements and the related
notes are included in Item 8 herein.

 (a)(2) Financial Statement Schedule:

 All schedules have been omitted as the required information
is inapplicable or the information is presented in the consolidated financial statements or related notes.

 (a)(3) Exhibits:

 The exhibits listed on the Exhibit Index (following
the signatures section of this report) are included, or incorporated by reference, in this annual report.

 (b) Exhibits:

 See Item 15(a)(3) above.

 (c) Financial Statement Schedule:

 All schedules have been omitted as the required information
is inapplicable or the information is presented in the consolidated financial statements or related notes.

 SIGNATURES

 Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of Costa Mesa,
State of California on the twentieth day of June, 2024.

 REGISTRANT

 CLEAN
 ENERGY TECHNOLOGIES, INC.

 By:

 /s/
 Kambiz Mahdi

 Mahdi

 Chief
 Executive Officer

 Date:

 Power
of Attorney

 KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Kambiz Mahdi, and his attorney-in-fact
for him or her in any and all capacities, to sign any amendments to this Annual Report on Form 10-K, and to file the same, with exhibits
thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all
that said attorney-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.

 Pursuant
to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the date indicated.

 Signature

 Title

 /s/
 Kambiz Mahdi

 Chief
 Executive Officer and Director

 By:

 Mahdi

 (principal
 executive officer)

 Date:

 /s/
 Calvin Pang

 Chief
 Financial Officer and Director

 By:

 Calvin
 Pang

 (principal financial and accounting officer)

 Date:

 /s/
 Mr. Ted Hsu

 By:

 Ted
 Hsu

 Date:

 /s/
 Ms. Lauren Morrison

 By:

 Lauren
 Morrison

 Date:

 /s/
 Mr. Matthew Graham Smith

 By:

 Matthew
 Graham Smith

 Date:

 EXHIBIT

 EXHIBIT

 NUMBER

 DESCRIPTION

 3.1

 Articles
 of Incorporation (included as exhibit 3.1 to the Form SB-2/A filed on June 10, 2005).

 3.2

 Bylaws
 (included as exhibit 3.2 to the Form SB-2/A filed on June 10, 2005).

 3.3

 ByLaws (included as exhibit 3.03 to our Current Report on Form 8-K dated February 15, 2018).

 3.4

 Certificate
 of Amendment of Articles of Incorporation, dated November 13, 2015, filed with the Nevada Secretary of State (included as exhibit
 3.1 to our Current Report on Form 8-K dated January 12, 2016).

 3.5

 and Restated Articles dated, June 30, 2016, filed with the Nevada Secretary of State (included as exhibit 3.1 to our Current Report
 on Form 8-K dated July 6, 2016).

 3.6

 By-Laws, dated June 30, 2016 (included as exhibit 3.2 to our Current Report on Form 8-K dated July 6, 2016).

 3.7

 Certificate
 of Amendment of Articles of Incorporation filed with the Nevada Secretary of State on August 23, 2017 (included as exhibit 10.1 to
 the Form S-8 filed on August 28, 2017).

 3.8

 and Restated Bylaws (included as exhibit 3.8 to the Form S-1/A filed on January 31, 2023).

 4.1

 Certificate
 of Designation for Series A Convertible Preferred Stock, dated May 20, 2004 (included as exhibit 4.2 to the Form SB-2/A filed on
 June 10, 2005).

 4.3

 Certificate of Designation for Series B Convertible Preferred Stock dated December 31, 2004 (included as exhibit 4.2 to the Form SB-2/A filed on June 10, 2005).

 4.4

 Series A Warrant Purchase Agreement (included as exhibit 4.3 to the Form SB-2/A filed on October 26, 2005).

 4.5

 Sample Series B Warrant Purchase Agreement (included as exhibit 4.4 to the Form SB-2/A filed on October 26, 2005).

 4.6

 Amended Series A Warrant Purchase Agreement (included as exhibit 4.5 to the Form SB-2/A filed on November 25, 2005).

 4.7

 Amended Series B Warrant Purchase Agreement (included as exhibit 4.6 to the Form SB-2/A filed on November 25, 2005).

 4.9

 Series A Warrant Agreement (included as exhibit 4.1 to the Form 8-K filed on November 10, 2008 and amended on November 18, 2008).

 4.10

 Series B Warrant Agreement (included as exhibit 4.2 to the Form 8-K filed on November 10, 2008 and amended on November 18, 2008).

 4.11

 Probe
 Manufacturing, Inc. 2011 Omnibus Incentive Plan (included as exhibit 4.2 to the Form S-8 filed on April 18, 2011).

 4.12

 Voting
 Agreement, dated February 13, by and among, the Corporation, ETI IV, Kambiz Mahadi, John Bennett and the Kambiz & Bahareh Mahdi
 Living Trust (included as exhibit 4.24 to the Form 8-K filed on February 14,).

 4.13

 Description of Securities (included as exhibit 4.13 to the Annual Report on Form 10-K filed on May 28, 2020).

 4.14

 Subscription
 Agreement (included as exhibit 4.13 to the Form 1-A/A filed on December 19, 2019).

 4.15

 Form
 of Representative Warrant (included as exhibit 4.14 to the Form S-1/A filed on January 31, 2023).

 10.1

 Lease
 Agreement between Probe Manufacturing, Inc. (F.K.A. Probe Manufacturing Industries, Inc. and Reza Zarif and Kambiz Mahdi, dated May
 2, 1997 (included as exhibit 10.1 to the Form SB-2/A filed on June 10, 2005).

 10.2

 Consulting
 Agreement between Probe Manufacturing Industries and Anthony Reed dated December 31, 2004 (included as exhibit 10.2 to the Form SB-2/A
 filed on June 10, 2005).

 10.3

 Legal
 Retainer Agreement between Probe Manufacturing, Inc. and Jeffrey Conrad dated May 20, 2004 (included as exhibit 10.3 to the Form
 SB-2/A filed on June 10, 2005).

 10.4

 Line
 of Credit agreement between Probe Manufacturing, Inc. and eFund Capital Partners, LLC dated January 1, 2005 (included as exhibit
 10.4 to the Form SB-2/A filed on June 10, 2005).

 10.5

 Line
 of Credit agreement between Probe Manufacturing, Inc. and Ashford Capital, LLC dated January 1, 2005 (included as exhibit 10.5 to
 the Form SB-2/A filed on June 10, 2005).

 10.6

 Line
 of Credit agreement between Probe Manufacturing, Inc. and Benner Exemption Trust dated March 8, 2005 (included as exhibit 10.6 to
 the Form SB-2/A filed on June 10, 2005).

 10.7

 Line
 of Credit agreement between Probe Manufacturing, Inc. and Edward Lassiter dated March 22, 2005 (included as exhibit 10.7 to the Form
 SB-2/A filed on June 10, 2005).

 10.8

 Line
 of Credit agreement between Probe Manufacturing, Inc. and Rufina V. Paniego dated January 1, 2005 (included as exhibit 10.8 to the
 Form SB-2/A filed on June 10, 2005).

 10.9

 Promissory
 Note between Probe Manufacturing, Inc and Ashford Transitional Fund, L.P. dated September 20, 2004 (included as exhibit 10.10 to
 the Form SB-2/A filed on June 10, 2005).

 10.10

 Engagement
 Letter between Probe Manufacturing, Inc. and eFund Capital Partners, LLC dated May 20, 2004 (included as exhibit 10.11 to the Form
 SB-2/A filed on June 10, 2005).

 10.11

 A Convertible Preferred Stock Purchase Agreement with eFund Capital Partners, LLC dated May 20, 2004 (included as exhibit 10.12 to
 the Form SB-2/A filed on June 10, 2005).

 10.12

 A Convertible Preferred Stock Purchase Agreement with Reza Zarif dated May 20, 2004 (included as exhibit 10.13 to the Form SB-2/A
 filed on June 10, 2005).

 10.13

 A Convertible Preferred Stock Purchase Agreement with Kambiz Mahdi dated May 20, 2004. (included as exhibit 10.14 to the Form SB-2/A
 filed on June 10, 2005).

 10.14

 B Convertible Preferred Stock Purchase Agreement with eFund Capital Partners, LLC dated December 31, 2004 (included as exhibit 10.15
 to the Form SB-2/A filed on June 10, 2005).

 10.15

 B Convertible Preferred Stock Purchase Agreement with Reza Zarif dated December 31, 2004 (included as exhibit 10.16 to the Form SB-2/A
 filed on June 10, 2005).

 10.16

 B Convertible Preferred Stock Purchase Agreement with Kambiz Mahdi dated December 31, 2004 (included as exhibit 10.17 to the Form
 SB-2/A filed on June 10, 2005).

 10.17

 Agreement
 to Cancel and Return shares of common stock between Probe and eFund Capital Partners, LLC, Ashford Capital, LLC, Reza Zarif, Kambiz
 Mahdi, dated December 31, 2004 (included as exhibit 10.18 to the Form SB-2/A filed on June 10, 2005).

 10.18

 Promissory
 note with eFund Capital Partners, LLC dated October 12, 2004 (included as exhibit 10.19 to the Form SB-2/A filed on June 10, 2005).

 10.19

 Promissory
 note with Rufina V. Paniego dated July 14, 2004 (included as exhibit 10.20 to the Form SB-2/A filed on June 10, 2005).

 10.20

 purchase order agreement with Celerity, Inc (included as exhibit 10.20 to the Form SB-2/A filed on October 26, 2005).

 10.21

 purchase order agreement with Newport Corporation (included as exhibit 10.21 to the Form SB-2/A filed on October 26, 2005).

 10.22

 purchase order agreement with Asymteck Corporation (included as exhibit 10.22 to the Form SB-2/A filed on October 26, 2005).

 10.23

 purchase order agreement with Jetline Engineering Corporation (included as exhibit 10.23 to the Form SB-2/A filed on October 26,
 2005).

 10.24

 purchase order agreement with our supplier Future Active, Inc (included as exhibit 10.24 to the Form SB-2/A filed on October 26,
 2005).

 10.25

 purchase order agreement with our supplier Arrow Electronics, Inc. (included as exhibit 10.25 to the Form SB-2/A filed on October
 26, 2005).

 10.26

 Intentionally
 Omitted

 10.27

 Sublease
 Agreement with Quantum Fuel System Technologies, Inc. (included as exhibit 10.1 to the Form 8-K filed on September 21, 2006).

 10.28

 Form
 Of Stock Subscription Agreement By And Between Quantum Fuel Systems Technologies Worldwide, Inc. And Probe Manufacturing, Inc. (included
 as exhibit 99 to our definitive 14D filed on October 5, 2006).

 10.29

 Employment
 Agreement with Reza Zarif, Chief Executive Officer of Probe Manufacturing, Inc. (included as exhibit 10.1 to Form 8-K filed on June
 14, 2006).

 10.30

 C Convertible Preferred Exchange Agreement with eFund Capital Partners, LLC (included as exhibit 10.2 to Form 8-K filed on June 14,
 2006).

 10.31

 C Convertible Preferred Exchange Agreement with Reza Zarif (included as exhibit 10.3 to Form 8-K filed on June 14, 2006).

 10.32

 C Convertible Preferred Exchange Agreement with Kambiz Mahdi (included as exhibit 10.4 to Form 8-K filed on June 14, 2006).

 10.33

 Series C Convertible Preferred Exchange Agreement with eFund Capital Partners, LLC (included as exhibit 10.1 to Form 8-K filed on
 August 14, 2006).

 10.34

 Series C Convertible Preferred Exchange Agreement with Reza Zarif (included as exhibit 10.2 to Form 8-K filed on August 14, 2006).

 10.35

 Series C Convertible Preferred Exchange Agreement with Kambiz Mahdi (included as exhibit 10.3 to Form 8-K filed on August 14, 2006).

 10.36

 Line of Credit agreement between Probe Manufacturing, Inc. and Kambiz Mahdi dated August 10, 2006 (included as exhibit 10.1 to the

 10.37

 Line of Credit agreement between Probe Manufacturing, Inc. and Reza Zarif dated August 10, 2006 (included as exhibit 10.2 to the

 10.38

 Line of Credit agreement between Probe Manufacturing, Inc. and Frank Kavanaugh dated August 10, 2006 (included as exhibit 10.3 to
 the Form 8-K filed on August 23, 2006).

 10.39

 Line of Credit agreement between Probe Manufacturing, Inc. and Kambiz Mahdi dated August 10, 2006 (included as exhibit 10.4 to the

 10.40

 Line of Credit agreement between Probe Manufacturing, Inc. and Reza Zarif dated August 10, 2006 (included as exhibit 10.5 to the

 10.41

 Line of Credit agreement between Probe Manufacturing, Inc. and Rufina Paniego dated August 10, 2006 (included as exhibit 10.6 to
 the Form 8-K filed on August 23, 2006).

 10.42

 Line of Credit agreement between Probe Manufacturing, Inc. and eFund Capital Partners, LLC dated August 10, 2006 (included as exhibit
 10.7 to the Form 8-K filed on August 23, 2006).

 10.43

 Line of Credit agreement between Probe Manufacturing, Inc. and Benner Exemption Trust dated August 10, 2006 (included as exhibit
 10.8 to the Form 8-K filed on August 23, 2006).

 10.44

 Line of Credit agreement between Probe Manufacturing, Inc. and Ed Lassiter dated August 10, 2006 (included as exhibit 10.9 to the

 10.45

 Line of Credit agreement between Probe Manufacturing, Inc. and William Duncan dated August 10, 2006 (included as exhibit 10.10 to
 the Form 8-K filed on August 23, 2006).

 10.46

 Line of Credit agreement between Probe Manufacturing, Inc. and Hoa Mai dated August 10, 2006 (included as exhibit 10.11 to the Form
 8-K filed on August 23, 2006).

 10.47

 Line of Credit agreement between Probe Manufacturing, Inc. and Ashford Transition Fund dated August 10, 2006 (included as exhibit
 10.12 to the Form 8-K filed on August 23, 2006).

 10.48

 Employee
 Profit Sharing Plan (included as exhibit 10.13 to the Form 8-K filed on August 23, 2006).

 10.49

 Probe
 Manufacturing 2006 Employee Incentive Stock Option Plan (included as exhibit 10.14 to the Form 8-K filed on August 23, 2006).

 10.50

 and Restated Series A Warrant Agreement (included as exhibit 10.1 to the Form 8-K filed on November 15, 2006).

 10.51

 and Restated Series B Warrant Agreement (included as exhibit 10.2 to the Form 8-K filed on November 15, 2006).

 10.52

 Contract
 Services Agreement for purchase order No. 43103 between Probe Manufacturing, Inc. and Mettler Electronics Corp. dated May 8, 2007.
 (included as exhibit 10.1 to the Form 8-K filed on May 22, 2007).

 10.53

 Contract
 Services Agreement for purchase order No. 43104 between Probe Manufacturing, Inc. and Mettler Electronics Corp. dated May 8, 2007.
 (included as exhibit 10.1 to the Form 8-K filed on May 22, 2007).

 10.55

 Contract Services Agreement for purchase order No. 43104 between Probe Manufacturing, Inc. and Mettler Electronics Corp. dated May 8, 2007. (included as exhibit 10.1 to the Form 8-K filed on May 22, 2007)

 10.56

 Probe
 Manufacturing, Inc. 2008 Directors Stock Compensation Plan (included as attachment to PRE14A Form 8-K filed on November 19, 2007).

 10.57

 Employment
 Letter of John Bennett date February 28, 2008 (included as exhibit 10.1 to the Form 8-K filed on February 29, 2008 and March 27,
 2008).

 10.58

 Sublease Agreement dated May 19, 2008 (included as exhibit 10.1 to the Form 8-K filed on May 23, 2008).

 10.59

 Letter
 of Intent between Probe Manufacturing and Solar Masters (included as exhibit 10.1 to the Form 8-K filed on July 28, 2008).

 10.60

 Letter of intent to acquire the assets of Solar Master Company (included as exhibit 10.1 to the Form 10-Q filed on August12, 2008).

 10.61

 Agreement
 for the sale and purchase of business assets of Solar Masters, LLC date August 13, 2008 (included as exhibit 10.1 to the Form 8-K
 filed on August 21, 2008).

 10.62

 Executive
 Consulting Agreement with Barrett Evans (included as exhibit 10.1 to the Form 8-K filed on September 12, 2008).

 10.63

 Engagement
 Letter of W. T. Uniack & Co. CPA's P.C. (included as exhibit 10.1 to the Form 8-K filed on November 10, 2008 and amended
 on November 18, 2008).

 10.64

 Letter
 to Reza Zarif regarding Resignation Letter (included as exhibit 10.2 to the Form 8-K filed on November 10, 2008 and amended on November
 18, 2008).

 10.65

 Resignation
 letter from Board of Directors. (included as exhibit 10.3 to the Form 8-K filed on November 10, 2008 and amended on November 18,
 2008).

 10.66

 Response
 from Reza Zarif Regarding 8-K dated September 25, 2008 (included as exhibit 10.4 to the Form 8-K filed on November 10, 2008 and amended
 on November 18, 2008).

 10.67

 Settlement
 Agreement and General release with Reza Zarif, dated June 2009. (included as exhibit 10.1 to the Form 8-K filed on August 12, 2009).

 10.68

 Sale
 of Solar Masters to Solar Masters Acquisition Company dated July 2009 (included as exhibit 10.2 to the Form 8-K filed on August 12,
 2009).

 10.69

 Sale
 of Common Stock to KB Development Group, LLC (included as exhibit 10.3 to the Form 8-K filed on August 12, 2009).

 10.70

 Resignation
 Letters of Barrett Evans and Jeffrey Conrad (included as exhibit 10.4 to the Form 8-K filed on August 12, 2009).

 10.71

 Summary
 of lease terms regarding Lease Agreement between Probe Manufacturing, Inc. and Benhard Family Trust dated October 14, 2009 (included
 as exhibit 10.1 to the Form 8-K filed on November 20, 2009).

 10.72

 Accounts
 Receivable Purchasing Agreement by and between Probe Manufacturing, Inc. and DSCH Capital Partners, LLC d/b/a Far West Capital, dated
 February 17, 2011 and effective as of February 18, 2011 (included as exhibit 10.1 to the Form 8-K filed on February 24, 2011).

 10.73

 Inventory
 Finance Rider to Accounts Receivable Purchasing Agreement by and between Probe Manufacturing, Inc. and DSCH Capital Partners, LLC
 d/b/a Far West Capital, dated February 17, 2011 and effective as of February 18, 2011. (included as exhibit 10.2 to the Form 8-K
 filed on February 24, 2011).

 10.74

 Agreement
 and Plan of Acquisition between Probe Manufacturing, Inc., Trident Manufacturing, Inc. and the Shareholders of Trident Manufacturing,
 Inc., dated March 13, 2013 (included as exhibit 10.1 to the Form 8-K filed on March 15, 2013).

 10.75

 Form
 of Series D Preferred Stock Purchase Agreement. (included as exhibit 10.1 to the Form 8-K filed on August 8, 2013).

 10.76

 Form
 of Series F Warrant Agreement (included as exhibit 10.2 to the Form 8-K filed on August 8, 2013).

 10.77

 Form
 of Series G Warrant Agreement (included as exhibit 10.3 to the Form 8-K filed on August 8, 2013).

 10.78

 OEM
 Agreement between the Company and S-Ray, Incorporated, dated November 21, 2014 (included as exhibit 10.1 to the Form 8-K filed on
 November 24, 2014).

 10.79

 Form
 of Stock Purchase Agreement (included as exhibit 10.1 to the Form 8-K filed on December 17, 2014).

 10.80

 Registration
 Rights Agreement, by and between the Company and ETI Partners IV LLC, dated as of September 11, 2015 (included as exhibit 4.1 to
 the Form 8-K filed on September 21, 2015).

 10.81

 Asset
 Purchase Agreement, by and between the Company and General Electric International, Inc., dated as of September 11, 2015 (included
 as exhibit 10.1 to the Form 8-K filed on September 21, 2015)

 10.82

 Transaction
 Completion and Financing Agreement, by and between the Company and ETI Partners IV LLC, dated as of September 11, 2015 (included
 as exhibit 10.2 to the Form 8-K filed on September 21, 2015).

 10.83

 Loan,
 Guarantee, and Collateral Agreement, by and between the Company and ETI Partners IV LLC, dated as of September 11, 2015. (included
 as exhibit 10.3 to the Form 8-K filed on September 21, 2015).

 10.84

 Purchase agreement between the company and Peak One Opportunity Fund, LP (included as exhibit 10.4 to the Form 10-Q filed on August
 22, 2016).

 10.85

 Subscription
 Agreement by and between the Company and Cyberfuture One LP, dated October 31, 2016. (included as exhibit 10.1 to the Form 8-K/A
 filed on April 20, 2017).

 10.86

 Purchase agreement between the company and Peak One Opportunity Fund, LP (included as exhibit 10.4 to the Form 10-Q filed on November
 18, 2016).

 10.87

 Subscription
 Agreement by and between the Company and Cyberfuture One LP, dated October 31, 2016 (included as exhibit 10.1 to the Form 8-K/A filed
 on April 20, 2017).

 10.88

 Escrow
 Funding Agreement dated November 1, 2016 between Red Dot Investment, Inc., a California corporation and the Registrant (included
 as exhibit 10.2 to the Form 8-K/A filed on April 20, 2018).

 10.89

 Partial
 Debt Settlement Agreement by and between EMA Financial, LLC, a Delaware limited liability company and the Registrant, dated January
 9, 2017 (included as exhibit 10.1 to the Form 8-K filed on April 20, 2017).

 10.90

 Payoff
 Agreement by and between the Registrant and JSJ Investments, Inc., dated February 13, 2017 (included as exhibit 10.2 to the Form
 8-K filed on April 20, 2017).

 10.91

 Credit
 Agreement and Promissory Note by and between Megawell USA Technology Investment Fund I LLC, a Wyoming limited liability company in
 formation and the Registrant, dated December 31, 2016 (included as exhibit 10.3 to the Form 8-K filed on April 20, 2017).

 10.92

 Stock Purchase Agreement by and between MGW Investment I Limited and the Registrant, dated February 13, 2018 (included as exhibit
 10.20 to the Form 8-K filed on February 15, 2018).

 10.93

 Convertible
 Note Stock Purchase Agreement by and between the Registrant and Confections Ventures, Inc., dated February 13, 2018 (included as
 exhibit 10.21 to the Form 8-K filed on February 15, 2018).

 10.94

 $939,500
 Convertible Promissory Note by and between Confections Ventures, Inc. and the Registrant, dated February 13, 2018 (included as exhibit
 10.22 to the Form 8-K filed on February 15, 2018).

 10.95

 ETI
 IV LLC Settlement Agreement by and between the Registrant and ETI IV LLC, dated February 13, 2018 (included as exhibit 10.23 to the
 Form 8-K filed on February 15, 2018).

 10.96

 Reddot
 Settlement Agreement by and between the Registrant and Reddot Investment Inc., dated February 13, 2018 (included as exhibit 10.24
 to the Form 8-K filed on February 15, 2018).

 10.97

 $153,123
 Convertible Promissory Note of the Corporation to MGW Investment I Limited, dated February 8, 2018 (included as exhibit 10.25 to
 the Form 8-K filed on February 15, 2018).

 10.98

 Form
 of $83,000 Convertible Promissory Note, dated 13, 2018 of Clean Energy Technologies Inc to Power Up Lending Group LTD. (Included
 as exhibit 10.98 to the Form 1-A/A filed on September 27, 2019)

 10.99

 Form
 of $138,000 Convertible Promissory Note of Clean Energy Technologies, Inc. to Power Up Lending LTD dated February 13, 2019. (Included
 as exhibit 10.99 to the Form 1-A/A filed on September 27, 2019)

 10.100

 Form
 of Executive Employment Agreement between Clean Energy Technologies, Inc and John Bennett dated May 17, 2019 and effective May 1,
 2019. (Included as exhibit 10.100 to the Form 1-A/A filed on September 27, 2019)

 10.101

 Form
 of Subscription Agreement between Clean Energy Technologies, Inc. and MGW Investment I Limited, dated May 31, 2019. (Included as
 exhibit 10.101 to the Form 8-K filed on June 5, 2019).

 10.102

 Form
 of Securities Purchase Agreement between Power-Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated October 29, 2019
 (Included as exhibit 10.102 to the Form 8-K filed on November 4, 2019).

 10.103

 Form
 of Convertible Promissory Note between Power-Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated October 29, 2019 (Included
 as exhibit 10.102 to the Form 8-K filed on November 4, 2019).

 10.104

 Form of Securities Purchase Agreement between Power-Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated January 8, 2020 (Included as exhibit 10.104 to the Form 10-K filed on June 4, 2020).

 10.105

 Form of Convertible Promissory Note between Power-Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated January 8, 2020 (Included as exhibit 10.105 to the Form 10-K filed on June 4, 2020).

 10.106

 Form of Securities Purchase Agreement between Power-Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated February 20, 2020 (Included as exhibit 10.106 to the Form 10-K filed on June 4, 2020).

 10.107

 Form of Convertible Promissory Note between Power-Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated October 29, 2019 (Included as exhibit 10.107 to the Form 10-K filed on June 4, 2020).

 10.108

 Employment
 Agreement between Kambiz Mahdi and Form of Convertible Promissory Note between Power-Up Lending Group Ltd. and Clean Energy Technologies,
 Inc., effective July 1, 2019 (Included as exhibit 10.108 to the Form 10-K filed on June 4, 2020).

 10.109

 Form
 of Equity Financing Agreement with GHS Investments, LLC, dated as of June 8, 2020 (Included as exhibit 10.109 to the Form 8-K filed
 on June 10, 2020).

 10.110

 Form
 of Registration Rights Agreement with GHS Investments, LLC, dated as of June 8, 2020 (Included as exhibit 10.110 to the Form 8-K
 filed on June 10, 2020).

 10.111

 Form
 of Securities Purchase Agreement, dated July 6, 2020, by and between Clean Energy Technologies, Inc. and LGH Investments, LLC (Included
 as exhibit 10.111 to the Form 8-K filed on July 8, 2020).

 10.112

 Form
 of $164,800 Convertible Promissory Note, dated July 6, 2020, issued by Clean Energy Technologies, Inc. to LGH Investments, LLC(Included
 as exhibit 10.112 to the Form 8-K filed on July 8, 2020).

 10.113

 Form
 of Common Stock Purchase Warrant, dated July 6, 2020, issued by Clean Energy Technologies, Inc. to LGH Investments, LLC (Included
 as exhibit 10.113 to the Form 8-K filed on July 8, 2020).

 10.114

 Form
 of Securities Purchase Agreement, dated July 6, 2020, by and between Clean Energy Technologies,
 Inc. and LGH Investments, LLC (Included as exhibit 10.114 to the Form 8-K filed on August 25, 2020).

 10.115

 Form
 of $164,800 Convertible Promissory Note, dated August 18, 2020, issued by Clean Energy Technologies, Inc. to LGH Investments, LLC
 (Included as exhibit 10.115 to the Form 8-K filed on August 25, 2020).

 10.116

 Form
 of Common Stock Purchase Warrant, dated August 18, 2020, issued by Clean Energy Technologies, Inc. to LGH Investments, LLC (Included
 as exhibit 10.116 to the Form 8-K filed on August 25, 2020).

 10.117

 Form
 of Securities Purchase Agreement between Power Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated July 15, 2020 (Included
 as exhibit 10.117 to the Form 8-K filed on August 25, 2020).

 10.118

 Form
 of Convertible $128,000 Promissory Note between Power Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated July 15, 2020.
 (Included as exhibit 10.118 to the Form 8-K filed on August 25, 2020).

 10.119

 Form
 of Securities Purchase Agreement, dated October 14, 2020, by and between Clean Energy Technologies, Inc. and LGH Investments, LLC
 (Included as exhibit 10.119 to the Form 8-K filed on October 19, 2020).

 10.120

 Form
 of $164,800 Convertible Promissory Note, dated October 14, 2020, issued by Clean Energy Technologies, Inc. to LGH Investments, LLC.
 (Included as exhibit 10.120 to the Form 8-K filed on October 19, 2020).

 10.121

 Form
 of Common Stock Purchase Warrant, dated October 14, 2020, issued by Clean Energy Technologies, Inc. to LGH Investments, LLC. (Included
 as exhibit 10.121 to the Form 8-K filed on October 19, 2020).

 10.122

 Form
 of Securities Purchase Agreement between Power Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated September 9, 2020.
 (Included as exhibit 10.122 to the Form 8-K filed on October 19, 2020)

 10.123

 Form
 of Convertible $63,000 Promissory Note between Power Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated September 9,
 2020. (Included as exhibit 10.123 to the Form 8-K filed on October 19, 2020).

 10.124

 Form
 of Securities Purchase Agreement between Power Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated as of November 10,
 2020. (Included as exhibit 10.124 to the Form 8-K filed on November 20, 2020)

 10.125

 Form
 of Convertible $53,000 Promissory Note between Power Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated as of November
 10, 2020 (Included as exhibit 10.125 to the Form 8-K filed on November 20, 2020).

 10.126

 Form
 of Securities Purchase Agreement between Power Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated as of December 18,
 2020. (Included as exhibit 10.126 to the Form 8-K filed on December 23, 2020)

 10.127

 Form
 of Convertible $53,000 Promissory Note between Power Up Lending Group Ltd. and Clean Energy Technologies, Inc., dated as of December
 18, 2020. (Included as exhibit 10.126 to the Form 8-K filed on December 23, 2020).

 10.128

 Form
 of Equity Financing Agreement with GHS Investments, LLC, dated as of August 31, 2021 (Included as exhibit 10.132 to the Form 8-K
 filed on September 2, 2021.

 10.129

 Form
 of Registration Rights Agreement with GHS Investments, LLC, dated as of August 31, 2021 (Included as exhibit 10.132 to the Form 8-K
 filed on September 2, 2021.

 10.130

 Form
 of Securities Purchase Agreement with Geneva Roth Remark Holdings Inc., dated as of August 31, 2021 (Included as exhibit 10.132 to
 the Form 8-K filed on September 10, 2021).

 10.131

 Form
 of $226,345 Original Issue Discount Note, due September 7, 2022, with Geneva Roth Remark Holdings Inc. carrying 10% interest per
 annum (Included as exhibit 10.132 to the Form 8-K filed on September 10, 2021).

 10.132

 Form
 of $226,345 Original Issue Discount Note, due September 7, 2022, with Geneva Roth Remark Holdings Inc. carrying 10% interest per
 annum dated September 28, 2021 (Included as exhibit 10.132 to the Form 8-K filed on October 5, 2021).

 10.133

 Form
 of Securities Purchase Agreement with Geneva Roth Remark Holdings Inc., dated as of August 31, 2021 (Included as exhibit 10.133 to
 the Form 8-K filed on October 5, 2021).

 10.134

 Form
 of The Conditional Stock Purchase Agreement between Clean Energy Technologies (H.K.) Limited., a wholly owned subsidiary of Clean
 Energy Technologies Inc. and Mr. Li Chin-kun, dated as of November 8, 2020. (Included as exhibit 10.134 to the Form 8-K filed on
 November 10, 2021)

 10.135

 Form
 of Convertible $650,000 Promissory Note between Universal Scope, Inc. and Clean Energy Technologies, Inc., dated as of December 18,
 2020. (Included as exhibit 10.135 to the Form 8-K filed on December 28, 2021)

 10.136

 Translated Form of Strategic Cooperation Framework Agreement between Shenzhen Gas between Shenzhen Gas (Hong Kong) International Co., Limited and Leading Wave Limited, dates August 20, 2021 (included as exhibit 10.136 to the annual report on Form 10-K/A filed on April 19, 2024).

 10.137

 Translated Form of 12% Convertible Promissory Note of Chengdu Rongjun Enterprise Consulting Co., Ltd to Jiangsu Huanya Jieneng New Energy Co., Ltd. Yuan 5,000,000 (included as exhibit 10.137 to the annual report on Form 10-K/A filed on April 19, 2024).

 10.138

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Mast Hill Fund, L.P. dated May 6, 2022. (Included as
 exhibit 10.138 to the Form 8-K filed on May 9, 2022)

 10.139

 Form
 of $750,000 Convertible Promissory Note dated May 6, 2022. (Included as exhibit 10.139 to the Form 8-K filed on May 9, 2022)

 10.140

 Form
 of Warrant (Included as exhibit 10.140 to the Form 8-K filed on May 9, 2022)

 10.141

 2006
 Incentive Stock Plan of the Company (Included as Exhibit 10.14 of Probe Manufacturing to the Form 8-K filed on August 23, 2006)

 10.142

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Jefferson Street Capital, LLC. dated August 5, 2022.
 (Included as Exhibit 10.142 of the Company on Form 8-K filed on August 16, 2022)

 10.143

 Form
 of $138,888.88 Convertible Promissory Note dated August 5, 2022. (Included as Exhibit 10.143 of the Company on Form 8-K filed on
 August 16, 2022)

 10.144

 Form
 of Jefferson Warrant (Included as Exhibit 10.144 of the Company on Form 8-K filed on August 16, 2022)

 10.145

 Form
 of $750,000 Convertible Promissory Note dated August 17, 2022. (Included as Exhibit 10.145 of the Company on Form 8-K filed on August
 26, 2022)

 10.146

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and FirstFire Global Opportunities Fund, LLC. dated August
 17, 2022. (Included as Exhibit 10.146 of the Company on Form 8-K filed on August 25, 2022)

 10.147

 Form
 of First Fire Warrant (Included as Exhibit 10.147 of the Company on Form 8-K filed on August 25, 2022)

 10.148

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Pacific Global Opportunities Fund, LLC. dated September
 1, 2022. (Included as Exhibit 10.148 of the Company on Form 8-K filed on September 9, 2022)

 10.149

 Form
 of $138,888.88 Convertible Promissory Note dated September 1, 2022. (Included as Exhibit 10.149 of the Company on Form 8-K filed
 on September 9, 2022)

 10.150

 Form
 of Warrant (Included as Exhibit 10.150 of the Company on Form 8-K filed on September 9, 2022)

 10.151

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Mast Hill Fund, L.P. dated September 16, 2022. (Included
 as Exhibit 10.151 of the Company on Form 8-K filed on September 23, 2022)

 10.152

 Form
 of $300,000 Convertible Promissory Note dated September 23, 2022. (Included as Exhibit 10.152 of the Company on Form 8-K filed on
 September 9, 2022)

 10.153

 Form
 of Warrant (Included as Exhibit 10.153 of the Company on Form 8-K filed on September 23, 2022)

 10.154

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Mast Hill Fund, L.P. dated October 25, 2022. (Included
 as Exhibit 10.154 of the Company on Form 8-K filed on October 28, 2022)

 10.155

 Form
 of Promissory Note dated October 25, 2022. (Included as Exhibit 10.155 of the Company on Form 8-K filed on October 28, 2022)

 10.156

 Form
 of Warrant (Included as Exhibit 10.155 of the Company on Form 8-K filed on October 28, 2022)

 10.157

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Mast Hill Fund, L.P. dated November 10, 2022. (Included
 as Exhibit 10.157 of the Company on Form 8-K filed on November 22, 2022)

 10.158

 Form
 of Promissory Note dated November 10, 2022. (Included as Exhibit 10.158 of the Company on Form 8-K filed on November 22, 2022)

 10.159

 Form
 of Warrant (Included as Exhibit 10.159 of the Company on Form 8-K filed on November 22, 2022)

 10.160

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and 1800 Diagonal Lending, LLC dated December 5, 2022 (Included
 as Exhibit 10.160 of the Company on Form 8-K filed on December 12, 2022).

 10.161

 Form
 of Promissory Note dated December 5, 2022 (Included as Exhibit 10.161 of the Company on Form 8-K filed on December 12, 2022).

 10.162

 Form
 of Operating Agreement between CETY Capital LLC and Synergy Bioproducts Corporation, dated December 14, 2022 (Included as Exhibit
 10.162 of the Company on Form 8-K filed on December 15, 2022).

 10.163

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Mast Hill Fund, L.P. dated December 26, 2022 (Included
 as Exhibit 10.163 of the Company on Form 8-K filed on January 3, 2023).

 10.164

 Form
 of $123,000 Convertible Promissory Note dated December 26, 2022 (Included as Exhibit 10.164 of the Company on Form 8-K filed on January
 3, 2023).

 10.165

 Form
 of Warrant (Included as Exhibit 10.165 of the Company on Form 8-K filed on January 3, 2023).

 10.166

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Mast Hill Fund, L.P. dated January 19, 2023 (Included
 as Exhibit 10.166 of the Company on Form 8-K filed on January 25, 2023).

 10.167

 Form
 of $187,000 Convertible Promissory Note dated January 19, 2023 (Included as Exhibit 10.167 of the Company on Form 8-K filed on January
 25, 2023).

 10.168

 Form
 of Warrant (Included as Exhibit 10.168 of the Company on Form 8-K filed on January 25, 2023)

 10.169

 Form
 of Calvin Pang Employment Agreement (Included as Exhibit 10.169 of the Company on Form S-1/A filed on February 14, 2023)

 10.170

 Purchase Agreement between Clean Energy Technologies, Inc. and 1800 Diagonal Lending LLC, dated February 10, 2023 (Included as Exhibit
 10.170 of the Company on Form S-1/A filed on March 2, 2023)

 10.171

 Form
 of $258,521 Promissory Note of Clean Energy Technologies to 1800 Diagonal Lending LLC, February 10, 2023 (Included as Exhibit 10.171
 of the Company on Form S-1/A filed on March 2, 2023)

 10.172

 Form
 of Master Services Agreement between RPG Global LLC and Clean Energy Technologies, Inc. (Included as Exhibit 10.172 of the Company
 on Form S-1/A filed on March 2, 2023)

 10.173

 Form
 of Securities Purchase Agreement between Clean Energy Technologies, Inc. and Mast Hill Fund, L.P. dated March 8, 2023 (Included as
 Exhibit 10.173 of the Company on Form 8-K filed on March 15, 2023).

 10.174

 Form
 of $734,000 Convertible Promissory Note dated March 8, 2023 (Included as Exhibit 10.174 of the Company on Form 8-K filed on March
 15, 2023).

 10.175

 Form
 of Warrant (Included as Exhibit 10.175 of the Company on Form 8-K filed on March 15, 2023)

 10.176

 Form
 of $135,005 Promissory Note of Clean Energy Technologies to 1800 Diagonal Lending LLC, March 6, 2023 (Included as Exhibit 10.176
 of the Company on Form S-1/A filed on March 20, 2023)

 10.177

 Form
 of Securities Purchase Agreement, dated as of March 6, 2023 between Clean Energy Technologies, Inc. and 1800 Diagonal Lending LLC.
 (Included as Exhibit 10.177 of the Company on Form S-1/A filed on March 20, 2023)

 14.1

 Code
 of Ethics (included as exhibit 14.1 to the Form 10-KSB on April 17, 2006).

 14.2

 and Restated Code of Business Conduct and Ethics, adopted September 23, 2011 (included as exhibit 14.1 to the Form 8-K filed on September
 29, 2011).

 21.1

 List of Subsidiaries (included as exhibit 21.1 to the annual report on Form 10-K/A filed on April 19, 2024).

 23.1

 Consent of the Independent Auditor (included as exhibit 23.1 to the annual report on Form 10-K/A filed on April 19, 2024).

 31.1*

 Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 31.2*

 Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 32.1*

 Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 32.2*

 Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 101.INS*

 101.SCH*

 101.CAL*

 101.LAB*

 101.PRE*

 101.DEF*

 Cover

 *
Filed herewith