Eco Wave Power Global AB (publ) Q1 FY2025 earnings call

• Financial progress: Net loss decreased by 4.2% compared to Q1 2024. • Los Angeles: Port of Los Angeles issued revocable permit in March, floaters manufacturing agreement with All-Ways Metal signed in April, to be completed by end of Q2 2025. • Portugal: Finalized engineering designs with MOQ Engineering in March, submitted execution plan, early groundwork started, on track for 2026 startup. • India: MOU with Bharat Petroleum for site assessment at Mumbai Oil Terminal, expected purchase order in Q2. • Taiwan: Sale agreement with I-Ke International Ocean Energy in detailed permitting phase, full contract execution expected by July. • Israel: EWP-EDF 1 installation at Jaffa Port had zero downtime in Q1, successful testing with 10 floaters showed average 13 kW output. • Advisory board: Established in March, welcomed Hilary Ackermann for energy sustainability and risk management expertise.

For the three months ended March 31, 2025, Eco Wave Power recorded a net loss of U.S.$505,000, slightly improved from the U.S.$527,000 net loss in the same period last year. Operating expenses were U.S.$765,000, up from U.S.$659,000 in Q1 2024. Cash and short-term deposits stood at U.S.$8.8 million as of March 31, compared to U.S.$9.3 million at year-end 2024. Net financing income helped offset the increase in operating costs.

• Expect to advance pilot sale agreement in Taiwan. • Anticipate progress on India contracts pending final documentation. • Los Angeles floaters under construction to be completed by end of Q2. • Portugal scheduled for 2026 startup.