Eco Wave Power Global AB (publ) Q1 FY2026 earnings call

• New Strategic Market Opportunity: AI Energy Infrastructure • Management identifies rapidly growing AI data center and computing infrastructure energy demand as a major long-term opportunity for EcoWave Power, particularly in coastal regions where most major demand centers are located. • The company's technology leverages existing coastal infrastructure (breakwaters, piers) for wave energy generation, eliminating the need for complex offshore construction or seabed connections and allowing deployment close to end demand centers. • EcoWave Power was featured in NVIDIA CEO Jensen Wang's GTC Conference keynote for a renewable energy digital twin project, gaining high-profile industry visibility for its AI-aligned energy solution. • Management notes that most alternative scalable energy solutions for AI (advanced nuclear, space-based solar) require decades of development before commercial deployment, while EcoWave Power's technology can be deployed in months, giving it a unique competitive advantage.

• Global Project Progress • Israel: The EWP-DF1 grid-connected wave power station in Jaffa continued stable operation and strong output during significant wave events in Q1 2026. • United States: Completed the Port of Los Angeles pilot project and submitted the final report to Shell Marine Renewable Energy; the pilot successfully confirmed technical, regulatory, and economic feasibility of the nearshore deployment model. The company will now discuss a larger-scale project on the port's outer breakwater with port leadership, and its technology was highlighted in a favorable US Department of Energy NREL report. • Portugal: Advanced engineering and grid connection work for the first 1MW project under its 20MW concession agreement in Porto. • Taiwan: Continued advancing its first Asia-Pacific project with IKE International Ocean Energy, including finalizing localized manufacturing plans and deployment preparations. • India: Started site assessment work for a potential pilot project in partnership with Bharat Petroleum, and expects a formal site assessment order in Q3 2026. • South Africa: Completed a feasibility study at the Port of Ngura that identified ~8.3MW of potential installed capacity, and initiated discussions with infrastructure and data center partners for AI-related wave energy applications.

• Financial and Operating Principles • Management continues to prioritize disciplined cost management, with operating expenses declining 11% YoY in Q1 2026 driven by cuts across R&D, sales and marketing, and G&A. • The company maintains a focus on disciplined capital allocation, consistent project execution, and strategic partnerships to support long-term commercial growth.

EcoWave Power does not break out financial performance by distinct product segments in this Q1 2026 earnings call. Total company operating expenses for the quarter were approximately $682,000 (11% lower than Q1 2025), with research and development expenses at $140,000 (down from $181,000 YoY), sales and marketing expenses at $71,000 (down from $77,000 YoY), and general and administrative expenses at $499,000 (down from $539,000 YoY). The operating loss improved year-over-year to $682,000, from $765,000 in the same period of 2025. Other income was stable at $52,000, primarily generated from technology demonstration activities and joint venture management fees. Net loss for the quarter was approximately $695,000, up from $505,000 YoY due to unfavorable foreign exchange fluctuations. As of March 31, 2026, total company liquidity stood at $5.3 million.

Management did not release formal full-year or next-quarter financial revenue or profit guidance in this Q1 2026 earnings call. The only forward-looking milestone guidance provided is that the company expects to receive the formal site assessment order for its Bharat Petroleum pilot project in India during Q3 2026. Management reaffirmed its long-term strategic guidance to prioritize existing project advancement, disciplined financial management, strategic partnership development, and market positioning for wave energy serving AI-related coastal energy infrastructure demand.

No specific risks, operational failures, or material downside concerns were discussed by management during this Q1 2026 earnings call.

No question and answer session was held during this first quarter 2026 earnings call.