Eco Wave Power Global AB (publ) Q2 FY2026 earnings call

• Financial Position Update • Completed a $4 million USD registered direct offering in June 2026 with a single institutional investor, consisting of 400,000 American Depositary Shares (ADS) priced at $10 per ADS, a 10.7% premium to the prior NASDAQ closing price • The investor also received warrants to purchase up to 300,000 ADS at an exercise price of $12 per ADS, a 32.9% premium to the prior closing price • Cash position increased 58% from March 31 2026, leaving the company in a stronger financial position to advance projects and growth strategy in H2 2026

• Global Project Progress • Israel's EWP-DF1 project at Jaffa Port (Israel's only grid-connected wave energy power station) has maintained zero downtime since early 2025, generating power for the national grid under a power purchase agreement; it also serves as a technology development platform for AI and digital twin integration. Post-period, the Israeli government announced a new 6 million shekel Bluetech Energy Initiative supporting wave energy development. • United States: Completed and submitted the final report for the Port of Los Angeles pilot project (in collaboration with AltaSea and Shell Marine Renewable Energy), gained critical U.S. market operational, regulatory and technical experience; the project was referenced in California's Senate Bill 605 wave energy commercialization evaluation, creating a foundation for future U.S. deployment. • Portugal: Reinforcement works at the Barra do Douro breakwater for the company's first megawatt-scale installation are underway; discussions with local subcontractors are ongoing, with a site visit and stakeholder meeting scheduled for the current month. • Taiwan: Local partner IKE International Ocean Energy secured a 5-year land lease at Suao Port with an extension option; land use right transfer applications are submitted, and work permits are expected by October 2026. The project plans to use locally manufactured components to build local capabilities and support future regional expansion. • India: Collaboration with Bharat Petroleum Corporation is advancing, starting with a site assessment study for a potential pilot at Bharat Petroleum's Mumbai Oil Terminal, targeting long-term opportunity in India's large renewable energy market.

• AI Strategy Update • EcoWave Power's technology was featured in two keynote presentations by NVIDIA CEO Jensen Huang (at GTC California and GTC Taipei), and the company joined the NVIDIA Inception Program to access developer tools, resources and ecosystem support • Two core AI priorities: 1) Integrate AI, digital twins, and predictive maintenance to improve wave energy system efficiency, monitoring, performance and scalability; 2) Position wave energy to meet growing coastal electricity demand from expanding AI data center infrastructure, with initial exploratory discussions underway with relevant stakeholders • Wave energy remains the company's core business; AI is used to strengthen and scale core operations while opening new long-term demand opportunities

EcoWave Power does not break out financial performance across distinct product segments in this earnings call. Only consolidated corporate-level financial results are provided: For the six months ended June 30, 2026, total operating expenses were ~$1.45 million USD, a 9% year-over-year decrease from ~$1.59 million USD in H1 2025. R&D expenses saw a 45% YoY decrease; general and administrative expenses remained stable at ~$1.07 million USD (vs ~$1.09 million USD in H1 2025). Other income rose 3% to $64,000 USD (from $62,000 USD YoY). External grant support increased 56.8% YoY from new programs including the European Green Deal Iliad Consortium and Innovate UK. Operating loss improved on a YoY basis, and as of June 30 2026, total liquidity was ~$8.4 million USD, consisting of $8.15 million USD in cash and cash equivalents and $250,000 USD in restricted short-term bank deposits.

Management did not release formal quantified financial or operational guidance for full-year 2026, but confirmed maintenance of the company's core strategic priorities for the second half of 2026: advance the megawatt-scale Portugal project, build on U.S. pilot progress, move Taiwan and India projects to next development milestones, continue operational data collection and technology development at the Israeli Jaffa Port project, expand AI and digital capabilities, and maintain strict financial discipline to support responsible strategy execution.

No explicit risks or operational failures were discussed by management during this earning call.

No questions were asked by meeting participants during this call; the conference concluded after management's prepared remarks.