WAVE

This article first appeared on GuruFocus. Release Date: August 11, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Operating expenses decreased by 9% year-over-year to USD1.45 million, reflecting improved cost discipline. Net loss narrowed by 12% to USD1.67 million in H1 2026, driven by lower R&D costs and increased grant funding. Successfully raised USD4 million via a registered direct offering at a 10.7% premium, boosting cash reserves by 58% to USD8.4 million. Jaffa Port project achieved zero downtime since early 2025, demonstrating reliable grid-connected wave energy operations. AI integration advanced significantly, with Eco Wave Power featured in NVIDIA keynotes and joining the NVIDIA Inception Program, enhancing technology and market visibility. Portugal's megawatt-scale project is progressing with reinforcement works and subcontractor discussions, marking a key step toward commercial-scale deployment. Taiwan project secured a five-year land lease and plans local manufacturing, supporting expansion in Asia-Pacific. Growing government support, including Israel's new BlueTech Energy Initiative and California's SB 605 referencing the company, signals increasing policy tailwinds. Sales and marketing expenses increased by 41% to USD174,000, reflecting higher payroll and travel costs. The company remains loss-making, with an operating loss of USD1.45 million and a net loss of USD1.67 million in H1 2026. Dependence on external grants (up 56.8%) highlights reliance on non-core funding for R&D activities. Portugal project faces potential delays due to ongoing reinforcement works and the need for subcontractor coordination. Taiwan project is still in early stages, with work permits not expected until October 2026, indicating slow progress. India collaboration with Bharat Petroleum is only at the site assessment stage, with no clear timeline for pilot installation. The company's AI strategy, while promising, may distract from core wave energy commercialization efforts and carries execution risks. Warning! GuruFocus has detected 2 Warning Signs with WAVE. Is WAVE fairly valued? Test your thesis with our free DCF calculator. Q: What were the key financial results for the first half of 2026, and how did the company's cost discipline and capital raise impact its balance sheet? A: CFO Aharon Yehuda reported that operating expenses decreased by 9% year-over-year to approximately $1.45 million, driven by a 45% reduction in R&D costs. The net loss improved by 12% to $1.67 million. The company strengthened its balance sheet with a $4 million registered direct offering in June, which increased total liquidity to approximately $8.4 million, a 58% increase from the end of Q1 2026. Q: How is Eco Wave Power integrating artificial intelligence into its operations, and what is the strategic significance of its partnership with NVIDIA? A: CEO Inna Braverman highlighted that the company's technology was featured twice in keynotes by NVIDIA CEO Jensen Huang. Eco Wave Power US joined the NVIDIA Inception Program, gaining access to developer tools and resources. The company sees two opportunities: using AI to improve its own technology (monitoring, predictive maintenance, digital twins) and positioning wave energy to meet the surging electricity demand from AI data centers located along coastlines. Q: What is the current status of the company's first megawatt-scale project in Portugal? A: Inna Braverman stated that reinforcement works at the Barra de Douro breakwater are underway, and discussions are advancing with Portuguese subcontractors for the execution phase. She noted that the Porto project is critical as it represents the company's first move into megawatt-scale installation, which will support its transition to larger commercial deployments. Q: What progress has been made on the company's projects in Asia, specifically in Taiwan and India? A: In Taiwan, partner IKE International Ocean Energy secured a five-year land lease at Swauport, with work permits expected by October 2026. The project will incorporate locally manufactured floaters. In India, the collaboration with Bharat Petroleum is advancing, expected to begin with a site assessment study and potentially progress to a pilot installation at the Mumbai Oil Terminal. Q: What were the key takeaways from the completion of the pilot project at the Port of Los Angeles? A: The CEO confirmed that the final report for the pilot project, developed with Alta Sea and Shell, was submitted. The project provided valuable technical and regulatory experience in the US market and demonstrated the advantage of installing systems on existing man-made infrastructure. The project was also referenced in California Senate Bill 605, highlighting the state's growing interest in wave energy. Q: How is the company's grid-connected project in Israel performing, and what role does it play in technology development? A: The EWP DF1 project at Jaffa Port has maintained zero downtime since the beginning of 2025. It serves as a technology development platform for integrating AI, digital twins, and predictive maintenance. The CEO also noted growing government support, including a new 6 million shekels BlueTech Energy Initiative from the Israeli government. Q: What is the company's strategy for addressing the growing electricity demand from data centers? A: Inna Braverman explained that as AI infrastructure expands, the need for reliable and sustainable electricity is increasing. Since many data centers and industrial centers are located along coastlines, the company sees a long-term opportunity for wave energy to support this demand. They have begun exploring this with academic institutions, technology companies, and data center developers. Q: What are the company's primary priorities for the second half of 2026? A: The CEO outlined clear priorities: advancing the megawatt-scale project in Portugal, building on US progress, advancing Taiwan and India toward next milestones, generating operational experience from Israel, expanding AI capabilities, and maintaining financial discipline to execute the strategy responsibly. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

12% Reduction in Net Loss, 9% Decrease in Operating Expenses and 58% Increase in Cash Position; Capital Raised at a Premium Through Registered Direct Offering; Company Featured in NVIDIA's Corporate Blog and Jensen Huang's GTC Taiwan Keynote; Regulatory Momentum from Israel's New Blue-Tech Initiative and California's SB 605; Continued Progress Across Key Projects in the U.S., Europe and Asia STOCKHOLM, Aug. 11, 2026 /PRNewswire/ -- Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, is pleased to report its financial results for the six months ended June 30, 2026, and provide a corporate update. Management Commentary Strengthened Financial Position, Operational Progress and AI-Driven Innovation During the first half of 2026, Eco Wave Power continued to execute a disciplined strategy focused on financial efficiency, advancement of its key projects and the integration of artificial intelligence and advanced digital technologies into its wave energy platform. The Company continued to strengthen its position across Europe, the United States and Asia, while advancing AI-driven initiatives designed to enhance predictive maintenance, system optimization, digital-twin capabilities and the future integration of wave energy with emerging power-intensive applications, including data centers. Strengthened Financial Position: The Company raised $4.0 million in gross proceeds through a registered direct offering with a single institutional investor. As of June 30, 2026, the Company's cash position increased by approximately 58% compared to March 31, 2026, strengthening the Company's financial resources as it advances its global growth strategy. Operating Expense Reduction: Operating expenses decreased by approximately 9% compared to the first half of 2025, reflecting the Company's continued focus on disciplined cost management. Reduced Net Loss: Net loss decreased by approximately 12% compared with the first half of 2025, reflecting continued financial discipline and improved operating efficiency. Growth in Other Income and Grant Funding: Other income increased by approximately 3% compared to the first half of 2025. In addition, grants received through the European Green Deal's ILIAD Consortium and Innovate UK increased by approximately 56.8%, supporting the Company's ongoing research, development and technology-advancement activities. AI and Digital Innovation: During H1 2026, Eco Wave Power continued to expand the role of artificial intelligence within its technology platform, including work on AI-powered predictive maintenance, digital twins and intelligent system optimization. The Company's growing focus on the intersection of renewable energy and AI was further highlighted through its participation in the NVIDIA Inception program, its appearance in NVIDIA's corporate blog, which explored the potential for ocean-powered data centers, and its inclusion in Jensen Huang's GTC Taiwan keynote. $4.0 Million Registered Direct Offering Priced at a Premium to Market On June 29, 2026, Eco Wave Power announced the successful closing of a $4.0 million registered direct offering with a single strategic institutional investor, strengthening the Company's balance sheet and supporting the continued advancement of its global project portfolio and AI-driven growth strategy. The offering consisted of 400,000 American Depositary Shares ("ADSs") at $10.00 per ADS, representing a 10.7% premium to the previous Nasdaq closing price. Gross proceeds were approximately $4.0 million, before deducting placement agent fees and offering expenses. The additional capital is intended to support Eco Wave Power's continued execution across its international project pipeline, while further advancing its strategy to position wave energy as a renewable energy layer for AI and digital infrastructure. The Company is also expanding its AI capabilities, including digital twins and other AI-driven technologies designed to enhance the performance, monitoring, optimization and scalability of its wave energy systems. "The successful completion of this financing marks another important milestone for Eco Wave Power as we continue advancing our global project portfolio," said Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power. "With projects progressing across multiple international markets and growing global demand for reliable renewable energy to support digital infrastructure and AI, we believe this financing further strengthens our ability to execute our strategy while creating long-term value for our shareholders." In connection with the offering, the investor also received warrants to purchase up to 300,000 ADSs at an exercise price of SEK 116.76 per ADS ($12.00 per ADS), representing a 32.9% premium to the previous Nasdaq closing price. The warrants are exercisable immediately and expire on June 26, 2029. Positioning Wave Energy for the Emerging AI Infrastructure Market During H1 2026, Eco Wave Power significantly expanded its activities at the intersection of wave energy, artificial intelligence, digital twins and next-generation energy infrastructure, while gaining increased visibility within NVIDIA's global AI ecosystem. In March 2026, Eco Wave Power's technology was featured during NVIDIA Founder and CEO Jensen Huang's GTC keynote in California, where a video and digital twin representation of the Company's wave energy technology demonstrated how ocean waves can be harnessed for clean electricity generation. The presentation highlighted the growing role of AI-driven modelling, simulation and digital twins in the design, monitoring and optimization of real-world infrastructure. On May 4, 2026, NVIDIA featured Eco Wave Power in a short film published across its global social media platforms, highlighting the Company's vision of using artificial intelligence to optimize wave energy generation. NVIDIA stated: "The ocean holds more energy than the world will ever need. Eco Wave Power uses AI to turn every wave into clean electricity. Renewable energy powered by the sea." On May 18, 2026, Eco Wave Power announced that its wholly owned subsidiary, Eco Wave Power U.S. Inc. ("Eco Wave Power U.S."), joined the NVIDIA Inception program, providing the Company with access to NVIDIA developer tools, technical resources, training and ecosystem support as it advances AI-driven applications for renewable energy infrastructure and intelligent energy management. Eco Wave Power U.S. is expected to serve as the Company's central hub for AI-related initiatives and intelligent infrastructure development across its global project portfolio. As part of this strategy, the Company is advancing discussions regarding research and development collaborations with leading academic institutions in Florida and Michigan, as well as technology and infrastructure stakeholders. These initiatives are expected to focus on digital twins, predictive maintenance, AI-powered operational optimization and the integration of intelligent energy-management layers into wave energy systems, as well as potential future applications for data center infrastructure. On June 2, 2026, Eco Wave Power's technology was featured for the second time within approximately three months in a flagship NVIDIA GTC keynote, this time during Jensen Huang's GTC Taipei 2026 presentation. The second appearance further highlighted the growing role of digital twins and advanced simulation technologies in optimizing real-world infrastructure. The Company's AI strategy gained further visibility on June 22, 2026, when Eco Wave Power was featured in an NVIDIA corporate blog titled "Eco Wave Power Turns Waves Into Watts With NVIDIA AI Infrastructure and Digital Twins." The feature highlighted Eco Wave Power's development of an AI Wave Energy Layer using NVIDIA Omniverse libraries and accelerated computing, while also exploring the longer-term potential for ocean-powered data centers. As global investment in artificial intelligence and data centers accelerates, the demand for reliable and scalable electricity infrastructure is expected to increase substantially. Eco Wave Power believes its proprietary onshore wave energy technology has the potential to contribute to this emerging energy ecosystem, particularly for coastal and nearshore infrastructure. The Company has initiated discussions with data center developers and infrastructure partners to explore potential integration of wave energy into future AI-focused energy solutions. Israel: Grid-Connected Operations and Growing Government Support for Wave Energy and Blue-Tech Eco Wave Power continues to operate Israel's first—and only—grid-connected wave energy power station at Jaffa Port. The EWP-EDF One project generates clean electricity from ocean waves and exports it directly to Israel's national grid under a Power Purchase Agreement with the Israel Electric Corporation. The technology has also been recognized as a "Pioneering Technology" by the Chief Scientist of Israel's Ministry of Energy and Infrastructure. Since the beginning of 2025, the Jaffa Port power station has maintained zero downtime, while continuing to demonstrate the operational viability of Eco Wave Power's onshore wave energy technology under real-world marine conditions. The project provides valuable operating data and demonstrates how existing coastal infrastructure can be transformed into renewable energy-generating assets without requiring offshore seabed installations. The Jaffa Port site is also serving as an important platform for the Company's continued technology development. Eco Wave Power is integrating artificial intelligence and digital twin capabilities into its wave energy systems, with the objective of improving energy-production optimization, predictive maintenance, system monitoring and the future integration of marine renewable energy with AI-driven infrastructure. Following the end of H1 2026, Eco Wave Power welcomed a new joint initiative announced by Israel's Ministry of Energy and Infrastructure and the Israel Innovation Authority, allocating NIS 6 million (approximately $2 million) to advance next-generation Blue-Tech energy technologies. The program specifically targets breakthrough technologies in areas including wave energy generation, offshore energy systems and AI-powered marine energy management, areas that closely align with Eco Wave Power's technology and development strategy. During the official inauguration of the Jaffa Port power station in December 2024, Israel's Minister of Energy and Infrastructure, Eli Cohen, highlighted the project as an example of Israel's leadership in innovation and renewable energy and emphasized its potential contribution to cleaner electricity generation and greater national energy security. The new Blue-Tech initiative provides further evidence of growing government interest in the commercialization of marine renewable energy technologies. Together with emerging policy support in markets such as California, Eco Wave Power believes these developments reflect increasing international recognition of wave energy's potential to progress from demonstration projects toward broader commercial deployment. United States: Port of Los Angeles Pilot and California Commercialization Pathway In March 2026, Eco Wave Power successfully completed and submitted the final report for its pilot project at the Port of Los Angeles, developed in collaboration with AltaSea and Shell Marine Renewable Energy. The project demonstrated the feasibility of integrating Eco Wave Power's wave energy technology into existing coastal infrastructure, without requiring offshore construction or seabed installation. The pilot provided important technical, operational, regulatory and economic data supporting the potential scalability of Eco Wave Power's technology. By utilizing existing marine structures, the Company's approach has the potential to simplify deployment, reduce installation complexity and support wave energy development close to major coastal population and electricity-demand centers. Eco Wave Power's infrastructure-integrated approach has also been highlighted by the U.S. Department of Energy's National Renewable Energy Laboratory ("NREL"), which has identified potential economic and deployment advantages associated with wave energy systems that leverage existing coastal infrastructure. Following the end of H1 2026, Eco Wave Power highlighted its inclusion in California's Final Consultant Report on Sea Space Analysis for Wave and Tidal Energy, prepared for the California Energy Commission as part of the State's Senate Bill 605 ("SB 605") initiative. The SB 605 process represents one of the most comprehensive state-led assessments of marine renewable energy in the United States, evaluating potential deployment areas, electrical infrastructure, environmental considerations, ocean-use conflicts, monitoring requirements and pathways toward future commercialization of wave and tidal energy. Importantly, the report specifically references Eco Wave Power and its Port of Los Angeles pilot project as part of California's assessment of existing marine renewable energy developments. It notes the Company's receipt of a U.S. Army Corps of Engineers Nationwide Permit and the deployment of Eco Wave Power's technology at AltaSea at the Port of Los Angeles. The Company believes California's continued evaluation of wave energy, together with the successful completion of Eco Wave Power's Port of Los Angeles pilot, provides an important foundation for potential future commercial deployments in the United States. Unlike offshore marine energy technologies that require seabed installations, Eco Wave Power's patented system is designed for deployment on existing man-made coastal structures, including breakwaters, jetties, piers and port infrastructure. The Company believes this approach has the potential to reduce deployment complexity and environmental and ocean-use impacts, while supporting a more practical pathway toward commercial-scale wave energy installations. Portugal: Advancing First Megawatt-Scale Project Under 20 MW Concession Eco Wave Power continued advancing its first megawatt-scale wave energy project in Porto, Portugal, representing the initial phase of the Company's 20 MW concession agreement with APDL, the Port Authority of Douro, Leixões and Viana do Castelo. During H1 2026, the Company continued coordinating with APDL regarding the reinforcement works at the Barra do Douro breakwater, which are currently underway. Recent updates received from APDL indicate that the works are progressing at the project site, including the infrastructure designated for Eco Wave Power's future installation. In parallel, Eco Wave Power is in advanced discussions with Portuguese subcontractors expected to support the execution phase of the project, further advancing preparations toward deployment. In August 2026, Eco Wave Power Founder and CEO Inna Braverman is expected to visit Porto for meetings with APDL, project subcontractors and other local stakeholders, as well as to review progress at the project site. The planned 1 MW installation represents the first phase of the Company's 20 MW concession and an important step in Eco Wave Power's transition toward larger-scale commercial deployments. The project is expected to provide valuable operational and execution experience that can support the development of subsequent megawatt-scale installations in Portugal and other international markets. Taiwan: Advancing First Wave Energy Project and Asia-Pacific Expansion Eco Wave Power continued advancing its first wave energy project in Taiwan, in collaboration with I-Ke International Ocean Energy Co. ("I-Ke"), a subsidiary of Lian Tat Company. The project is expected to incorporate local manufacturing of Eco Wave Power's floaters and deployment of a turnkey wave energy system, supporting the development of local manufacturing capabilities while demonstrating the scalability of the Company's technology in the Asia-Pacific region. In March 2026, I-Ke secured a five-year land lease agreement, with an option for extension, at Suao Port for the designated wave energy project site. Securing the site represents an important milestone toward the project's implementation and provides a foundation for advancing the next stages of development. The application for the transfer of land-use rights has been submitted to the Taiwan International Ports Corporation, with the required port work permits expected to be obtained by October 2026, providing a defined regulatory pathway toward project execution. The Suao Port project represents a strategic entry point for Eco Wave Power into the Asia-Pacific market and is intended to demonstrate the ability to manufacture and deploy the Company's technology locally, creating a model that could support future expansion into additional ports and coastal markets across the region. As Taiwan continues to expand its renewable energy capacity while investing heavily in semiconductors, artificial intelligence and digital infrastructure, Eco Wave Power believes wave energy could become part of the region's diversified renewable energy mix and potentially contribute to the growing electricity requirements of coastal data centers and other AI-related infrastructure. India: Advancing Collaboration with BPCL to Unlock Wave Energy Potential Eco Wave Power continued advancing its collaboration with Bharat Petroleum Corporation Limited ("BPCL") to explore the deployment of wave energy technology in India, one of the world's largest and fastest-growing energy markets. The collaboration is expected to begin with a site-assessment study and progress toward a pilot installation at BPCL's Mumbai Oil Terminal, providing an opportunity to evaluate Eco Wave Power's technology under local operating conditions and establish a foundation for potential future deployments. India's extensive coastline, growing electricity demand and continued investment in renewable energy infrastructure create a significant long-term opportunity for wave energy. Eco Wave Power believes its technology could complement India's broader renewable energy mix while supporting future industrial, coastal and digital infrastructure, including the increasing electricity requirements associated with data centers and AI-driven growth. The Company views its collaboration with BPCL as an important step toward establishing a presence in the Indian market and demonstrating the potential for Eco Wave Power's technology to be deployed across additional suitable coastal and port infrastructure in the future. CEO Commentary The first half of 2026 was an important period for Eco Wave Power, marked by stronger financial performance, continued operational execution and the expansion of our strategy into artificial intelligence and next-generation energy infrastructure. From a financial perspective, we remained focused on disciplined capital management while continuing to advance our global growth strategy. During the first half of the year, we reduced operating expenses by approximately 9% and decreased our net loss by approximately 12% compared with the same period last year. We also strengthened our financial position through the successful completion of a $4 million registered direct offering with a single strategic institutional investor, priced at a 10.7% premium to the previous Nasdaq closing price. We believe raising capital at a premium to market was an important achievement and provides us with additional resources to continue advancing our projects and technology. At the same time, we continued making meaningful progress toward our long-term objective of taking wave energy from demonstration to commercial-scale deployment. In Israel, our grid-connected EWP-EDF One project at Jaffa Port continues to operate and provide us with valuable real-world data. Since the beginning of 2025, the station has maintained zero downtime, demonstrating the ability of our technology to operate in real marine conditions while exporting clean electricity into the national grid. We are also using the project as a platform for continued technological development, including the integration of digital twins, predictive maintenance and AI-driven optimization. In the United States, we completed and submitted the final report for our Port of Los Angeles pilot project, developed in collaboration with AltaSea and Shell Marine Renewable Energy. This project has provided important technical, regulatory and economic experience for our U.S. activities and demonstrated our ability to deploy wave energy technology on existing coastal infrastructure without requiring offshore seabed installation. We were also encouraged to see Eco Wave Power and our Port of Los Angeles project specifically referenced within California's SB 605 process as the State continues evaluating pathways for the future development and commercialization of wave and tidal energy. We believe this growing policy attention is an important step toward creating the regulatory and commercial framework required for larger-scale marine renewable energy deployment in the United States. Portugal continues to represent one of the most important steps in our transition toward megawatt-scale deployment. Our planned 1 MW project in Porto represents the first phase of our 20 MW concession agreement with APDL. Reinforcement works at the Barra do Douro breakwater are now underway and progressing, including works affecting the infrastructure designated for our future installation. In parallel, we are advancing discussions with Portuguese subcontractors expected to participate in the execution phase of the project. I also look forward to visiting Porto in August to meet with APDL and our local partners and review the progress at the project site firsthand. We believe the Porto project can provide important execution and operational experience as we work toward larger-scale wave energy deployments. We continued expanding our international footprint in Asia as well. In Taiwan, our partner has secured the project site at Suao Port, and the permitting process is progressing toward the expected receipt of the required port work permits. The project is particularly important to us because it combines local manufacturing with deployment of Eco Wave Power's technology and could establish a model for future expansion across the Asia-Pacific region. In India, we continued advancing our collaboration with Bharat Petroleum Corporation Limited to evaluate wave energy deployment, beginning with a site assessment and a potential pilot installation at BPCL's Mumbai Oil Terminal. India's extensive coastline, growing electricity demand and investment in renewable energy infrastructure represent an important potential long-term market for our technology. One of the most exciting developments during H1, however, has been the rapid expansion of Eco Wave Power's activities at the intersection of renewable energy and artificial intelligence. During the first half of the year, our technology was featured twice in keynote presentations by NVIDIA Founder and CEO Jensen Huang—first at GTC in California and again at GTC Taipei. Eco Wave Power U.S. also joined the NVIDIA Inception program, and NVIDIA subsequently featured our technology and AI strategy through its global platforms and corporate blog, highlighting our work with digital twins, NVIDIA Omniverse libraries and accelerated computing, as well as the potential longer-term role of ocean energy in powering data center infrastructure. For us, AI represents more than an opportunity to improve our own technology. We see two complementary opportunities. First, we are developing AI-driven tools that can improve the performance, monitoring, predictive maintenance, optimization and scalability of our wave energy systems. Second, we believe the rapid growth of AI and data centers is creating an unprecedented need for additional reliable and sustainable electricity generation. Many of the world's largest population centers, ports and digital infrastructure assets are located along coastlines. We believe this creates an opportunity for wave energy to eventually become part of the broader renewable energy mix supporting the significant growth in electricity demand associated with AI and next-generation computing infrastructure. We have therefore begun exploring this opportunity with academic institutions, technology companies, infrastructure partners and data center developers, while continuing to develop the AI capabilities that can strengthen the performance and intelligence of our own technology. We are also seeing encouraging signs of increased government attention to wave energy. Following the end of H1, Israel announced a new Blue-Tech Energy initiative supporting technologies including wave energy and AI-powered marine energy management. Together with developments in California and other international markets, we believe this reflects a broader shift in how governments and industry are beginning to view marine renewable energy—from primarily research and demonstration toward commercialization and real infrastructure deployment. As we move through the second half of 2026, our priorities remain focused: advancing our first megawatt-scale project in Portugal, building on the progress achieved in the United States, moving our projects in Taiwan and India toward their next development stages, continuing to generate valuable operational experience from our grid-connected project in Israel, expanding our AI capabilities and maintaining the financial discipline required to execute our strategy responsibly. We believe Eco Wave Power today is positioned at the convergence of several important global trends: the transition toward renewable energy, the increasing need for energy security, the modernization of coastal infrastructure and the extraordinary growth in electricity demand driven by artificial intelligence and data centers. We enter the second half of 2026 with a stronger financial position, meaningful progress across our key markets and a growing opportunity to position wave energy within the emerging AI and digital infrastructure ecosystem. I am proud of what our team has accomplished during the first half of the year and remain confident in the long-term potential of our technology, our global project pipeline and the market we are building. We look forward to continuing to execute on our strategy and to updating our shareholders as we reach the next milestones in Eco Wave Power's growth. Inna BravermanFounder and Chief Executive OfficerEco Wave Power H1 2026 Financial Overview Operating expenses for the period of six months ended June 30, 2026, were $1,451 thousand, down by 9% ($137 thousand) from the same period last year. Research and development expenses decreased by $181 thousand, or 45%, to $218 thousand for the six months ended June 30, 2026, compared to $399 thousand for the six months ended June 30, 2025. This decrease was primarily attributable to a $29 thousand decrease in labor and related expenses, a $124 thousand decrease in other research and development costs, a $67 thousand increase in grants received in the first half of 2026 and a $39 thousand increase in depreciation. Sales and marketing expenses increased by $51 thousand, or 41%, to $174 thousand for the six months ended June 30, 2026, compared to $123 thousand for the six months ended June 30, 2025. This increase was primarily attributable to a $16 thousand increase in payroll and related expenses and a $35 thousand increase in travel and investors communication expenses in the first half of 2026. General and administrative expenses decreased by $16 thousand, or 1%, to $1,073 thousand for the six months ended June 30, 2026, compared to $1,089 thousand for the six months ended June 30, 2025. This decrease was primarily attributable to a $73 thousand decrease in professional fees, a $34 thousand decrease in travel expenses, a $22 thousand decrease in insurance expenses, a $30 thousand decrease in other general and administrative expenses and a $143 thousand increase in payroll and related expenses in the first half of 2026. Other income increased by $2 thousand, or 3%, to $64 thousand for the six months ended June 30, 2026 compared to $62 thousand for the six months ended June 30, 2025. Other income during 2025 and 2026 was primarily derived from technology demonstrations development support activities in the United States, and management fees from a joint venture received by the Company. Share of net loss of a joint venture accounted for using the equity method was $50 thousand. Operating loss decreased by $137 thousand, or 9%, to $1,451 thousand for the six months ended June 30, 2026, compared to $1,588 thousand for the six months ended June 30, 2025. Net financial loss was $221 thousand for the six months ended June 30, 2026, compared to $304 thousand net financial loss for the six months ended June 30, 2025. This decrease was primarily attributable to foreign exchange rate fluctuations, including the appreciation of the Swedish Krona and of the New Israeli Shekel against the U.S. dollar. Net loss decreased by $220 thousand, or 12%, to $1,672 thousand for the six months ended June 30, 2026, compared to $1,892 thousand for the six months ended June 30, 2025. As of June 30, 2026, the Company held $8.4 million in total liquidity, consisting of $8.15 million in cash and cash equivalents and $0.25 million in restricted short-term bank deposits. Conference Call and Webcast Information The Chief Executive Officer of Eco Wave Power, Inna Braverman and the Company's Chief Financial Officer, Aharon Yehuda, will host a conference call to discuss the financial results and outlook on Tuesday, August 11, 2026, at 5:00 PM Eastern time. The dial-in numbers for the conference call are 888-506-0062 (toll-free) or 973-528-0011(international). If requested, please provide participant access code: 229009. The event will be webcast live, available at: https://www.webcaster5.com/Webcast/Page/2922/54391 You may submit your questions for the call until August 11, 2026, at 12:00 PM Eastern time via email to: [email protected] A replay will be available by telephone approximately four hours after the call's completion until Monday, August 24, 2026. You may access the replay by dialing 877-481-4010 from the U.S. or 919-882-2331 for international callers, using the Replay ID 54391. The archived webcast will also be available on the investor relations section of the Company's website. About Eco Wave Power Global AB (publ) Eco Wave Power Global (NASDAQ: WAVE) is a pioneering onshore wave energy company that converts ocean and sea waves into clean, reliable, and cost-efficient electricity using its patented technology. By generating renewable power directly from existing coastal infrastructure such as breakwaters, jetties, and piers, Eco Wave Power enables sustainable electricity production in close proximity to coastal cities, ports, and energy-intensive infrastructure. As global electricity demand continues to rise-driven in part by the rapid growth of artificial intelligence, data centers, and digital infrastructure - Eco Wave Power is positioning its technology as a scalable, nearshore renewable energy solution capable of supporting next-generation power needs. With a mission to accelerate the global transition to renewable energy while supporting the next generation of digital and industrial infrastructure, Eco Wave Power developed and operates Israel's first grid-connected wave energy power station, recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and co-funded by EDF Power Solutions. In the United States, the Company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy. Eco Wave Power is expanding globally with projects planned in Portugal, Taiwan, and India, representing a project pipeline of 404.7 MW. The Company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honored with the United Nations Global Climate Action Award. Eco Wave Power's American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol "WAVE." For more information, please visit www.ecowavepower.com For press inquiries, please contact: [email protected] Note: Information available on or through the websites mentioned herein does not form part of this press release. For more information, please contact: Aharon Yehuda, [email protected] Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses its belief that its proprietary onshore wave energy technology has the potential to contribute to the emerging energy ecosystem for coastal and nearshore infrastructure including data centers, the Company's initiation of discussions with data center developers and infrastructure partners to explore potential integration of wave energy into future AI-focused energy solutions, the expectation that Eco Wave Power's strategy to position wave energy as a renewable energy layer for AI and digital infrastructure will continue to advance, the belief that the Port of Los Angeles pilot project provides an important foundation for potential future commercial deployments in the United States, the advancement of the megawatt-scale wave energy project in Portugal including the expectation that the planned 1 MW installation will provide valuable operational and execution experience for subsequent megawatt-scale installations, the expectation that port work permits for the Taiwan project at Suao Port will be obtained by October 2026 and the belief that the project could establish a model for future expansion across the Asia-Pacific region, the collaboration with Bharat Petroleum Corporation Limited (BPCL) to explore wave energy deployment in India including the expectation that a pilot installation at BPCL's Mumbai Oil Terminal could establish a foundation for potential future deployments, the belief that wave energy could complement India's broader renewable energy mix while supporting future industrial, coastal and digital infrastructure, the belief that growing government interest in wave energy in Israel and California reflects increasing international recognition of wave energy's potential to progress from demonstration projects toward broader commercial deployment, the Company's continued development of AI-driven tools including digital twins, predictive maintenance and intelligent system optimization, and the belief that maintaining a diversified global project pipeline will allow the Company to continue progressing toward commercial-scale wave energy deployments while strengthening its position within the global renewable energy sector. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will", or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2025 filed with the SEC on March 12, 2026, which is available on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release. 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This article first appeared on GuruFocus. Release Date: May 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Operating expenses decreased by 11% compared to the first quarter of 2025, indicating improved cost management. Eco Wave Power Global AB (NASDAQ:WAVE) has approximately $5.3 million in total liquidity, providing a solid financial foundation for future projects. The company is advancing projects across multiple countries, including Israel, the United States, Portugal, Taiwan, India, and South Africa. Eco Wave Power's technology was featured in NVIDIA's GTC conference, highlighting its relevance in the intersection of AI and energy demand. The EWP DF1 project in Jaffa, Israel, demonstrated stable performance and strong production, showcasing the viability of their technology. Net loss for the quarter increased to approximately $695,000 from $505,000 in the same period last year. The increase in net loss was primarily due to foreign exchange fluctuations, impacting financial income. Despite advancements, the company still faces challenges in scaling its technology for larger implementations. The company is operating in a competitive market with emerging technologies like advanced nuclear and space-based energy systems. There is a reliance on strategic partnerships and collaborations, which may pose risks if these relationships do not materialize as expected. Warning! GuruFocus has detected 2 Warning Sign with WAVE. Is WAVE fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide an overview of Eco Wave Power's financial performance for Q1 2026? A: Aaron Yehuda, CFO: During the first quarter of 2026, we maintained disciplined cost management, resulting in an 11% decrease in operating expenses compared to Q1 2025. Operating expenses were approximately $682,000, with reductions in research and development, sales and marketing, and general administrative expenses. Despite a net loss of approximately $695,000, we have a solid financial foundation with $5.3 million in total liquidity. Q: What strategic initiatives is Eco Wave Power focusing on? A: Ina Brotherman, CEO: We are advancing our global project portfolio and positioning Eco Wave Power within the intersection of AI and energy demand. Our technology generates renewable energy from existing coastal infrastructure, which is crucial as AI adoption increases energy demand. We are also exploring potential applications of wave energy within AI-related infrastructure markets. Q: How is Eco Wave Power progressing with its projects in various regions? A: Ina Brotherman, CEO: In Israel, our EWP DF1 project in Jaffa is operating successfully. In the U.S., we completed a pilot project at the Port of Los Angeles and are discussing larger-scale implementation. In Portugal, we are advancing our first megawatt project. In Taiwan and India, we are progressing with localized manufacturing and site assessments, respectively. In South Africa, we completed a feasibility study indicating 8.3 megawatts of potential capacity. Q: How does Eco Wave Power view its role in the AI and energy infrastructure market? A: Ina Brotherman, CEO: We believe our technology is uniquely positioned to meet the growing electricity demands of AI infrastructure, especially in coastal regions. Our wave energy solutions can be deployed quickly and efficiently, providing a practical renewable energy option compared to other emerging technologies that may take decades to commercialize. Q: What are Eco Wave Power's priorities moving forward? A: Ina Brotherman, CEO: Our priorities include advancing operational projects, maintaining disciplined financial management, deepening strategic partnerships, and positioning Eco Wave Power within the next generation of global energy infrastructure. We aim to address the rapidly growing electricity demands of AI infrastructure with our scalable wave energy solutions. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Company completes U.S. pilot project, advances global portfolio and positions wave energy within emerging AI-driven energy infrastructure market, while reducing Q1 operating expenses by 11% Stockholm, Sweden--(Newsfile Corp. - May 7, 2026) - Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, is pleased to report its financial results as of and for the three months ended March 31, 2026, and provide a corporate update. Management Commentary Q1 2026 marked a period of continued operational execution and strategic positioning for Eco Wave Power, as the Company advanced its global project portfolio while aligning its technology with one of the most significant emerging drivers of energy demand: artificial intelligence. The rapid acceleration of artificial intelligence is driving unprecedented demand for energy infrastructure, particularly for data centers and high-performance computing facilities. Industry leaders, including NVIDIA, have emphasized that energy availability is becoming a key constraint to scaling AI deployment globally. During the quarter, the Company reduced operating expenses by 11% compared to Q1 2025, reflecting disciplined cost management across research and development, sales and marketing, and general and administrative functions. Eco Wave Power ended the quarter with $5.3 million in cash and short-term deposits, supporting its ongoing development activities and global expansion. In parallel, the Company continued advancing its operational projects while taking initial steps to position wave energy as part of the foundational energy layer required for the continued expansion of AI infrastructure. Positioning Within the Emerging AI Energy Infrastructure Market During the quarter, Eco Wave Power was featured during the keynote presentation delivered by NVIDIA's CEO, Jensen Huang, at the NVIDIA GTC conference, which highlighted the critical role of energy infrastructure in enabling the continued growth of artificial intelligence. In April 2026, the Company was also featured across NVIDIA's social media platforms, further emphasizing the relevance of renewable energy solutions in supporting AI-driven infrastructure. Eco Wave Power believes that its proprietary wave energy technology is uniquely positioned to support the emerging energy needs of coastal and nearshore infrastructure, including data centers, by providing a predictable and scalable source of renewable energy. In parallel, the Company has initiated discussions with data center developers and infrastructure partners to explore the integration of wave energy into AI-focused energy solutions. The Company is actively evaluating opportunities to position wave energy as part of the broader energy ecosystem required to support next-generation computing infrastructure. Israel: EWP-EDF One Jaffa Port Wave Energy Pilot Project Eco Wave Power continued the successful operation of its EWP-EDF One project at the Port of Jaffa, the first wave energy installation in Israel to supply electricity to the national grid. During the quarter, the system demonstrated stable performance and reliability under real sea conditions, including record production levels during peak wave events. The project continues to validate the Company's technology in real-world environments, including grid integration, durability, and cost efficiency. As a grid-connected, nearshore renewable energy solution, the Jaffa project also serves as a model for how wave energy can support energy demand in coastal regions, including potential future applications in powering data centers and AI-related infrastructure. The project remains a key foundation for future commercial-scale deployments, including the integration of advanced data analytics and AI-driven optimization tools such as the Company's planned WaveGPT platform. United States: Port of Los Angeles Pilot Project Eco Wave Power successfully completed and submitted the final report for its pilot project at the Port of Los Angeles, developed in collaboration with AltaSea and Shell Marine Renewable Energy. The project validated the technical, regulatory and economic feasibility of deploying wave energy systems integrated into existing coastal infrastructure, without the need for offshore construction or seabed connection. The pilot demonstrated cost efficiency, operational reliability, and simplified permitting pathways, positioning Eco Wave Power's technology as a scalable solution for deployment near major coastal population centers. The Company's technology was also highlighted in a report by the U.S. Department of Energy's National Renewable Energy Laboratory (NREL), which emphasized the economic and deployment advantages of coastal infrastructure-integrated wave energy systems, including reduced installation complexity and the ability to leverage existing marine structures. Given the increasing concentration of data centers and digital infrastructure in coastal regions, the Company believes its technology can play a role in supporting localized energy demand, including for AI-driven applications. The project will continue to serve as a demonstration and educational platform for wave energy technology. Portugal: Eco Wave Power Advances Megawatt-Scale Wave Energy Project in Portugal Eco Wave Power continued advancing its first megawatt-scale wave energy project in Porto, Portugal, under its 20 MW concession agreement. During the quarter, the Company progressed grid connection agreements, engineering validation, and execution planning, marking the transition of the project toward construction readiness. The project represents an important step toward commercial-scale deployment and is expected to provide operational experience for larger installations. The Company is currently awaiting further updates from APDL following a structural assessment of the breakwater after a storm event. Taiwan First Wave Energy Project Eco Wave Power continued advancing its first wave energy project in Taiwan in collaboration with I-Ke International Ocean Energy Co. The project includes local manufacturing of floaters and deployment of a turnkey system, supporting the development of regional wave energy capabilities. The project represents an important step in expanding Eco Wave Power's presence in Asia-Pacific and demonstrates the adaptability of its technology across different markets. As Taiwan continues to invest in digital infrastructure and advanced technologies, the Company believes wave energy can contribute to the region's long-term renewable energy mix, including potential future demand from data centers and AI-related infrastructure. India: An MOU with BPCL to Harness India's Wave Energy Potential Eco Wave Power continued advancing its collaboration with Bharat Petroleum Corporation Limited (BPCL) to explore wave energy deployment in India. The initiative begins with a site-assessment study and is expected to lead to a pilot installation at BPCL's Mumbai Oil Terminal. India represents a significant opportunity due to its extensive coastline and growing energy demand. The Company believes wave energy could play a role in supporting future industrial and digital infrastructure growth in India. South Africa: Port of Ngqura Feasibility Study Eco Wave Power completed a feasibility study for a potential wave energy installation at the Port of Ngqura, indicating the potential for approximately 8.3 MW of installed capacity. The study confirmed favorable site conditions and the suitability of existing coastal infrastructure for deployment. The project represents Eco Wave Power's initial entry into the African market and aligns with its strategy to expand into regions with strong wave resources and growing demand for renewable energy. CEO Commentary: Dear Shareholders, The first quarter of 2026 reflects both continued operational progress and an important evolution in how we position Eco Wave Power within the global energy landscape. While we remain focused on executing our core projects across multiple regions, it is becoming increasingly clear that the global energy market is undergoing a structural shift driven by the rapid expansion of artificial intelligence. AI is no longer only a technology story - it is an infrastructure story. The growth of data centers and high-performance computing is creating unprecedented demand for reliable, scalable and sustainable energy sources. Industry leaders, including NVIDIA, have emphasized that energy availability is becoming one of the primary constraints to further AI expansion. During this quarter, Eco Wave Power was featured during the keynote presentation of Jensen Huang at NVIDIA's GTC conference, as well as across NVIDIA's social media platforms. We view this visibility not as an endpoint, but as an indication that the role of energy in enabling AI is moving to the forefront of global discussion. We believe that wave energy, particularly in nearshore and coastal environments, can play a meaningful role in addressing this challenge. Our technology offers a predictable and scalable renewable energy solution that can be deployed close to population centers and infrastructure hubs, where energy demand is expected to grow significantly. At the same time, we continue to execute across our global portfolio - from the successful operation of our project in Israel, to the completion of our pilot in the United States, and the advancement of our megawatt-scale project in Portugal. Each of these projects strengthens our technological foundation and positions us for future growth. We have also begun discussions with data center developers and infrastructure partners to explore how wave energy can be integrated into future energy solutions supporting AI and digital infrastructure. We remain disciplined in our financial management, focused on execution, and committed to building long-term value. As we move forward, our strategy is clear: continue advancing our technology and projects, while positioning Eco Wave Power to participate in one of the most significant shifts in global energy demand in decades. Sincerely, Inna Braverman, Chief Executive Officer First quarter 2026 Financial Overview Operating expenses for the period of three months ended March 31, 2026, were $682 thousand, down by $83 thousand from the same period last year. Research and development expenses decreased by $41 thousand, or 23%, to $140 thousand, compared to $181 thousand in the same period last year. Sales and marketing expenses decreased by $6 thousand, or 8%, to $71 thousand, compared to $77 thousand in the same period last year. General and administrative expenses decreased by $40 thousand, or 7%, to $499 thousand, compared to $539 thousand in the same period last year. Other income generated during the first quarter of 2026 was $52 thousand, compared to $54 thousand in the same period last year. Other income during 2025 and 2026 was primarily derived from technology demonstrations and development support activities in India and in the United States, respectively, as well as management fees from a joint venture received by the Company. Share of net loss of a joint venture accounted for using the equity method was $24 thousand. Operating loss decreased by $83 thousand, or 11%, to $682 thousand, compared to $765 thousand in the same period last year. Net financial income decreased by $273 thousand, resulting in net financial expense of $13 thousand, compared to net financial income of $260 thousand in the same period last year. The change was primarily attributable to foreign exchange rate fluctuations, including the appreciation of the Swedish Krona and of the New Israeli Shekel against the U.S. dollar. Net loss was $695 thousand, compared to $505 thousand in the same period last year. As of March 31, 2026, the Company held $5.29 million in total liquidity, consisting of $5.04 million in cash and cash equivalents and $0.25 million in restricted short-term bank deposits. Conference Call and Webcast Information The Chief Executive Officer of Eco Wave Power, Inna Braverman and the Company's Chief Financial Officer, Aharon Yehuda, will host a conference call to discuss the financial results and outlook on Tuesday, May 12, 2026, at 9:00 AM Eastern time. The dial-in numbers for the conference call are 888-506-0062 (toll-free) or 973-528-0011(international). If requested, please provide participant access code: 663161. The event will be webcast live, available at: https://www.webcaster5.com/Webcast/Page/2922/54013 You may submit your questions for the call until May 10, 2026 at 1:00 PM Eastern time via email to: [email protected] A replay will be available by telephone approximately four hours after the call's completion until Monday, May 25, 2026. You may access the replay by dialing 877-481-4010 from the U.S. or 919-882-2331 for international callers, using the Replay ID 54013. The archived webcast will also be available on the investor relations section of the Company's website. About Eco Wave Power Global AB (publ) Eco Wave Power Global (NASDAQ: WAVE) is a pioneering onshore wave energy company that converts ocean and sea waves into clean, reliable, and cost-efficient electricity using its patented technology. By generating renewable power directly from existing coastal infrastructure such as breakwaters, jetties, and piers, Eco Wave Power enables sustainable electricity production in close proximity to coastal cities, ports, and energy-intensive infrastructure. As global electricity demand continues to rise-driven in part by the rapid growth of artificial intelligence, data centers, and digital infrastructure - Eco Wave Power is positioning its technology as a scalable, nearshore renewable energy solution capable of supporting next-generation power needs. With a mission to accelerate the global transition to renewable energy while supporting the next generation of digital and industrial infrastructure, Eco Wave Power developed and operates Israel's first grid-connected wave energy power station, recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and co-funded by EDF Power Solutions. In the United States, the Company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy. Eco Wave Power is expanding globally with projects planned in Portugal, Taiwan, and India, representing a project pipeline of 404.7 MW. The Company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honored with the United Nations Global Climate Action Award. Eco Wave Power's American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol "WAVE." For more information, please visit www.ecowavepower.com For press inquiries, please contact: [email protected] Note: Information available on or through the websites mentioned herein does not form part of this press release. For more information, please contact: Aharon Yehuda, CFO [email protected] Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses its belief that its proprietary wave energy technology is uniquely positioned to support the emerging energy needs of coastal and nearshore infrastructure including data centers, the Company's initiation of discussions with data center developers and infrastructure partners to explore integration of wave energy into AI-focused energy solutions, the expectation that the EWP-EDF One project in Israel remains a key foundation for future commercial-scale deployments including the integration of advanced data analytics and AI-driven optimization tools such as the planned WaveGPT platform, the belief that the Port of Los Angeles installation will continue to serve as an educational and demonstrational pilot project showcasing wave energy technology, the belief that the Company's technology can play a role in supporting localized energy demand including for AI-driven applications, the advancement of the megawatt-scale wave energy project in Portugal including the expectation that the project will provide operational experience for larger installations, the Company awaiting further updates from APDL following a structural assessment of the breakwater after a storm event, the advancement of the Taiwan wave energy project including local manufacturing of floaters and deployment of a turnkey system in collaboration with I-Ke International Ocean Energy Co. and the potential for wave energy to contribute to the region's long-term renewable energy mix, the collaboration with Bharat Petroleum Corporation Limited (BPCL) to explore wave energy deployment in India including the expectation that the initiative will lead to a pilot installation at BPCL's Mumbai Oil Terminal and the belief that wave energy could support future industrial and digital infrastructure growth in India, the completion of a feasibility study for a potential wave energy installation at the Port of Ngqura in South Africa indicating approximately 8.3 MW of installed capacity and the Company's strategy to expand into regions with strong wave resources and growing demand for renewable energy, and the belief that maintaining a diversified global project pipeline will allow the Company to continue progressing toward commercial-scale wave energy deployments while strengthening its position within the global renewable energy sector. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will", or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2025 filed with the SEC on March 12, 2026, which is available on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release. Eco Wave Power Global AB (publ) CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) Eco Wave Power Global AB (publ) CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296424

Tel Aviv, Israel--(Newsfile Corp. - April 7, 2026) - Eco Wave Power Global AB (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a global leader in onshore wave energy technology, today announced its wave energy production results for March 2026 at its EWP-EDF One pilot project located at Jaffa Port, Israel. During March 2026, the system operated continuously, with approximately six days experiencing moderate wave conditions in the range of 1 to 2 meters. During these days, the project generated more than 1,200 kWh of clean, renewable electricity. Eco Wave Power installation in Israel, as presented by Nvidia at GTC To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11247/291303_84d19a4594085a7d_001full.jpg The March results are particularly notable as they reflect energy generation achieved during a limited number of operational days with moderate wave conditions, demonstrating the system's ability to efficiently convert commonly occurring sea states into electricity. Since the beginning of 2025, the EWP-EDF One system at Jaffa Port has maintained zero downtime, with stable operation recorded in wave conditions of 1 meter and above. The March performance further validates the resilience, safety mechanisms, and production scalability of Eco Wave Power's proprietary onshore wave energy technology. The ability to generate electricity under moderate and frequently occurring wave conditions also highlights the potential role of wave energy as a reliable power source for coastal infrastructure, including data centers. As global demand for artificial intelligence infrastructure continues to accelerate, energy is increasingly emerging as a key constraint on growth. In a recent blog published ahead of NVIDIA's GTC conference, Jensen Huang, CEO of NVIDIA, described AI as a "five-layer cake," with energy forming its foundation. Every unit of intelligence generated in real time is ultimately dependent on continuous electricity supply, as computation, cooling, and data processing all require significant power. Following this publication, Eco Wave Power's technology was also featured during NVIDIA GTC in the keynote presentation delivered by Jensen Huang, further highlighting the growing relevance of innovative renewable energy solutions within the AI ecosystem. As AI models become more advanced and widely deployed, the limiting factor is no longer only algorithms or hardware, but increasingly the availability of scalable and reliable energy sources. The growing adoption of open-source models is further accelerating demand for energy across the entire AI infrastructure stack. In this context, Eco Wave Power's ability to generate clean electricity from moderate and predictable wave conditions near shorelines positions its technology as a logical and extremely relevant solution for powering coastal data centers and supporting the next generation of AI infrastructure. The EWP-EDF One installation at Jaffa Port is a pilot-scale demonstration array, consisting of a limited number of small-scale floaters, designed primarily to validate system durability, grid integration, and real-world production performance under varying marine conditions. Future commercial deployments are expected to utilize significantly larger floaters and a substantially greater number of units, which are anticipated to materially enhance energy capture and increase overall capacity factors compared to pilot-scale installations. "March continued to demonstrate the consistency and efficiency of our system, even during a limited number of operational days under moderate wave conditions," said Inna Braverman, CEO and Founder of Eco Wave Power. "The ability to generate meaningful electricity from common sea states strengthens our belief that wave energy can play an important role in supporting energy demand from rapidly growing sectors such as AI and data centers." Eco Wave Power continues to systematically collect and analyze real-world operational data at Jaffa Port to optimize system performance and support its global project pipeline. About Eco Wave Power Global AB (publ) Eco Wave Power Global (NASDAQ: WAVE) is a leading onshore wave energy company that converts ocean and sea waves into clean, reliable, and cost-efficient electricity using its patented and intelligent technology. By generating renewable power directly from existing coastal infrastructure such as breakwaters, jetties, and piers, Eco Wave Power enables sustainable electricity production in close proximity to coastal cities, ports, and energy-intensive infrastructure. As global electricity demand continues to rise with the growth of artificial intelligence, digital infrastructure, and next-generation data centers, Eco Wave Power's technology is designed to help provide renewable energy near shorelines where many data centers, industrial facilities, and population centers are located. With a mission to accelerate the global transition to renewable energy while supporting the next generation of digital and industrial infrastructure, Eco Wave Power developed and operates Israel's first grid-connected wave energy power station, recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and co-funded by EDF Power Solutions. In the United States, the Company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy. Eco Wave Power is expanding globally with projects planned in Portugal, Taiwan, and India, representing a project pipeline of 404.7 MW. The Company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honored with the United Nations Global Climate Action Award. Eco Wave Power's American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol "WAVE." For more information, please visit: www.ecowavepower.com Press inquiries: [email protected] Note: Information available on or through the websites mentioned herein does not form part of this press release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses that Future commercial deployments are expected to utilize significantly larger floaters and a substantially greater number of units, which are anticipated to materially enhance energy capture and increase overall capacity factors compared to pilot-scale installations, and the belief that wave energy can play an important role in supporting energy demand from rapidly growing sectors such as AI and data centers. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will", or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2025 filed with the SEC on March 12, 2026, which is available on the on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291303

This article first appeared on GuruFocus. Release Date: March 19, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Eco Wave Power Global AB (NASDAQ:WAVE) advanced key strategic projects, including the establishment of US pilots at the Port of Los Angeles and additional projects in Europe and Asia. The company reduced operating expenses by 24% in Q4 compared to the previous quarter, reflecting improved financial discipline. Eco Wave Power's technology was featured in NVIDIA's GDC keynote, highlighting its relevance in the AI-driven energy landscape. The successful launch and completion of the first onshore wave energy pilot project in the US demonstrated the feasibility of integrating wave energy systems into existing port infrastructure. The project at Jaffa port in Israel maintained zero downtime in 2025, providing stable electricity and valuable engineering data for technology optimization. Eco Wave Power Global AB (NASDAQ:WAVE) reported a net loss of approximately USD3.7 million for 2025, primarily due to increased investment in infrastructure. Revenue remains limited and is driven by project timing and milestone recognition, typical for a company at its current stage. The development of the megawatt-scale project in Portugal is facing delays due to structural assessments following a storm event. The company is still in the transition phase from pilot projects to larger commercial deployments, indicating a need for further progress. Despite improving cost discipline, the company is still heavily investing in growth and infrastructure, which may impact short-term financial performance. Warning! GuruFocus has detected 2 Warning Sign with WAVE. Is WAVE fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide an overview of Eco Wave Power's financial performance for 2025? A: Aharon Yehuda, CFO, explained that 2025 was a year of operational expansion and infrastructure investment, leading to a net loss of approximately USD 3.7 million. The company ended the year with USD 6.3 million in cash, supporting ongoing operations. Revenue remains limited, driven by project timing and milestone recognition typical for a company at this stage. Q: What were the key achievements for Eco Wave Power in 2025? A: Inna Braverman, CEO, highlighted the successful launch of the first onshore wave energy pilot project in the US at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy. The project met its technical and operational objectives, demonstrating safe integration into existing port infrastructure. Q: How did Eco Wave Power manage its operating expenses in Q4 2025? A: Aharon Yehuda, CFO, noted a 24% reduction in operating expenses compared to the previous quarter, with R&D expenses down by 26% and sales and marketing expenses reduced by 32%. This reflects a more efficient cost structure as the company transitions from development to execution of real-world projects. Q: What is the significance of Eco Wave Power's technology being featured in NVIDIA's GDC keynote? A: Inna Braverman, CEO, emphasized that being featured in NVIDIA's keynote highlights the relevance of Eco Wave Power's technology in the AI era. AI's growing electricity demands, particularly in coastal regions, align with the company's capability to provide scalable and reliable renewable energy. Q: What are the future plans for Eco Wave Power's project pipeline? A: Inna Braverman, CEO, mentioned ongoing projects in Portugal and Taiwan, with plans to expand into additional markets like India and South Africa. The company aims to transition from pilot projects to larger commercial wave energy installations, leveraging its growing global project pipeline. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Tel Aviv, Israel--(Newsfile Corp. - March 4, 2026) - Eco Wave Power Global AB (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a global leader in onshore wave energy technology, today announced its wave energy production results for February 2026 at its EWP-EDF One pilot project located at Jaffa Port, Israel. Jaffa Port Pilot Station February 18, 2026 To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11247/286216_ce67f31d94da09e2_001full.jpg During February 2026, the system operated for approximately nine days under moderate wave conditions, with average daily wave heights ranging between 1 and 2 meters. During these operational days, the project generated approximately 2,000 kWh of clean, renewable electricity. In addition to steady performance under moderate sea states, February marked a significant operational milestone for the Company. Eco Wave Power experienced its highest wave conditions recorded to date at the Jaffa Port site, with waves reaching approximately 3 meters in height. During these higher wave conditions, the system achieved: An average power production of approximately 20 kWh and A peak production of 56.7 kW, representing the highest average and peak production levels recorded at the site to date. These results demonstrate the system's ability to both withstand and operate efficiently during elevated sea states, while capturing higher energy output when wave intensity increases. Since the beginning of 2025, the EWP-EDF One system at Jaffa Port has maintained zero downtime, with stable operation recorded in wave conditions of 1 meter and above. The February performance further validates the resilience, safety mechanisms, and production scalability of Eco Wave Power's proprietary onshore wave energy technology. The EWP-EDF One installation at Jaffa Port is a pilot-scale demonstration array, consisting of a limited number of small-scale floaters, designed primarily to validate system durability, grid integration, and real-world production performance under varying marine conditions. The record outputs achieved during 3-meter wave events provide valuable data for the engineering and optimization of future commercial-scale projects. Future commercial deployments are expected to utilize significantly larger floaters and a substantially greater number of units, which are anticipated to materially enhance energy capture and increase overall capacity factors compared to pilot-scale installations. "February was an important month for us operationally," said Inna Braverman, CEO and Founder of Eco Wave Power. "Not only did we continue stable production during moderate wave conditions, but we also experienced the highest waves recorded at our site to date. Achieving record average and peak power production during 3-meter wave events provides meaningful validation of our technology's performance potential as we scale toward commercial projects." Eco Wave Power continues to systematically collect and analyze real-world operational data at Jaffa Port to optimize system performance and support its global project pipeline. About Eco Wave Power Global AB (publ) Eco Wave Power Global (NASDAQ: WAVE) is a pioneering onshore wave energy company that transforms the power of ocean and sea waves into clean, reliable, and cost-efficient electricity through its patented, intelligent technology. With a mission to accelerate the global transition to renewable energy, Eco Wave Power developed and operates Israel's first grid-connected wave energy power station, recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and co-funded by EDF Renewables IL. In the United States, the Company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy. Eco Wave Power is expanding rapidly worldwide, with upcoming projects in Portugal, Taiwan, and India, representing a robust project pipeline of 404.7 MW under development. The Company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honoured with the United Nations Global Climate Action Award. Eco Wave Power's American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol "WAVE." For more information, please visit: www.ecowavepower.com For press inquiries, please contact: [email protected] Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it states that future commercial deployments of the EWP-EDF One system are expected to utilize significantly larger floaters and a substantially greater number of units, which are anticipated to materially enhance energy capture and increase overall capacity factors. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will", or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2024 filed with the SEC on March 3, 2025, which is available on the on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286216

Stockholm, Sweden--(Newsfile Corp. - February 17, 2026) - Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, today announced the successful completion of a feasibility study for a potential wave energy power station at the Port of Ngqura, South Africa. Africa Great Future Development Ltd (AGFDL) Team at the Port of Los Angeles Opening To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11247/284129_53303ee3843bb8a7_001full.jpg The feasibility study, conducted in collaboration with Africa Great Future Development Ltd (AGFDL), delivered encouraging results, indicating the technical potential to deploy approximately 8.3 MW of installed wave energy capacity along the port's breakwater infrastructure, subject to further development and permitting assessments. The study assessed site conditions, wave resource availability, and preliminary system configuration. The findings support the port's suitability for onshore wave energy implementation and highlight the opportunity to integrate wave energy generation using existing coastal structures. Following completion of the feasibility phase, AGFDL will now review the study results in detail, after which the parties will jointly evaluate potential next steps, including project structuring, regulatory pathways, and development timelines. "This feasibility study marks an important milestone in our entry into the African market," said Inna Braverman, Founder and CEO of Eco Wave Power. "The results demonstrate meaningful potential at the Port of Ngqura, and we look forward to working closely with our partners to assess how this project could progress in a responsible and commercially viable manner and becoming the first wave power station on the continent of Africa." South Africa continues to face structural energy supply challenges, with a strong need for clean, reliable, and locally generated power. With more than 2,800 kilometers of coastline, the country offers significant long-term potential for wave energy as part of a diversified renewable energy mix. Wilfred Emmanuel-Gottlieb, CEO of AGFDL To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11247/284129_53303ee3843bb8a7_002full.jpg "This study provides a solid technical foundation for further discussions," said Wilfred Emmanuel-Gottlieb, CEO of AGFDL. "We will now carefully evaluate the results and, together with Eco Wave Power, determine the most appropriate path forward." The Port of Ngqura, located in South Africa's Eastern Cape Province and operated by Transnet National Ports Authority, is one of the country's most strategic deep-water ports and is adjacent to the Coega Special Economic Zone. The Company believes the port's exposed breakwater and existing marine infrastructure make it a strong candidate for the first onshore wave energy deployment. AGFDL has since commenced discussions with the Leadership at East London assessing suitable locations for a site to deploy the second wave energy power station in the country. The South Africa feasibility study further strengthens Eco Wave Power's growing international project pipeline. The Company currently operates a grid-connected wave energy power station in Jaffa Port, Israel, and is advancing projects in the United States, Portugal, Taiwan, and India. About Eco Wave Power Global AB (publ) Eco Wave Power Global (NASDAQ: WAVE) is a pioneering onshore wave energy company that transforms the power of ocean and sea waves into clean, reliable, and cost-efficient electricity through its patented, intelligent technology. With a mission to accelerate the global transition to renewable energy, Eco Wave Power developed and operates Israel's first grid-connected wave energy power station, recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and co-funded by EDF Renewables IL. In the United States, the company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy (Shell MRE). Eco Wave Power is expanding rapidly worldwide, with upcoming projects in Portugal, Taiwan, and India, representing a robust project pipeline of 404.7 MW under development. The company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honored with the United Nations Global Climate Action Award. Eco Wave Power's American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol "WAVE." For more information, please visit www.ecowavepower.com For press inquiries, please contact: [email protected] Note: Information available on or through the websites mentioned herein does not form part of this press release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses the expectation that the completion of the feasibility study indicates the technical potential to deploy approximately 8.3 MW of installed wave energy capacity along the Port of Ngqura's breakwater infrastructure and the Company's belief that the port's exposed breakwater and existing marine infrastructure make it a strong candidate for the first onshore wave energy deployment. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will", or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2024 filed with the SEC on March 3, 2025, which is available on the on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284129

This article first appeared on GuruFocus. Release Date: November 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Eco Wave Power Global AB (NASDAQ:WAVE) achieved a 28% reduction in net loss quarter over quarter, indicating improved financial efficiency. The company ended the quarter with a solid cash position of $6.85 million, providing resources for near-term milestones and global expansion. The launch of the first US project at the Port of Los Angeles gained nationwide visibility and recognition, enhancing the company's brand and technology credibility. International expansion is progressing with significant partnerships in Taiwan, India, and Europe, paving the way for long-term deployment opportunities. Recognition by Time magazine as one of the best inventions of 2025 highlights the innovation and impact of Eco Wave Power Global AB (NASDAQ:WAVE)'s technology. Operating expenses increased to $2.48 million for the nine months ended September 2025, reflecting higher costs associated with project investments. Net loss for the nine months increased to $2.89 million, primarily due to higher operating expenses and foreign exchange impact. R&D expenses rose to $591,000, indicating increased spending on engineering efforts and new project development. Sales and marketing expenses increased to $293,000, driven by the launch of the US pilot project, impacting overall financials. General and administrative expenses totaled $1.61 million, reflecting staffing and operational costs, which could affect profitability. Warning! GuruFocus has detected 3 Warning Signs with WAVE. Is WAVE fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide an overview of Eco Wave Power's financial performance for Q3 2025? A: Eonie Huda, CFO, reported that for the nine months ended September 30, 2025, operating expenses totaled $2.48 million, reflecting investments in projects in the US, Portugal, and Asia. R&D expenses rose to $591,000, and sales and marketing expenses increased to $293,000 due to the US pilot project launch. The net loss for the period increased to $2.89 million, primarily due to higher operating expenses and foreign exchange impacts. However, on a quarter-over-quarter basis, the net loss declined by 28% to $996,000, driven by efficiency improvements and cost management. Q: What were the key operational highlights for Eco Wave Power in Q3 2025? A: Ina Braveman, CEO, highlighted the launch of the first US project at the Port of Los Angeles as a major milestone, gaining nationwide visibility and recognition by Time magazine. The project demonstrated the reliability and scalability of their technology. Internationally, they expanded in Taiwan with a commercial port tender for wave energy testing and collaborated with Bharat Petroleum in India. In Europe, they prepared for Portugal's first megawatt-scale wave energy plant. Q: How is Eco Wave Power positioned in the global renewable energy market? A: Ina Braveman, CEO, stated that Eco Wave Power is well-positioned to meet the accelerating global electricity demand driven by AI, data centers, and manufacturing. Their wave energy technology is clean, consistent, and operates 24/7, complementing solar and wind energy. The company is entering its next phase of commercialization from a position of strength, with a solid financial foundation and growing global visibility. Q: What are the financial strategies and future projections for Eco Wave Power? A: Eonie Huda, CFO, emphasized the company's disciplined financial approach, balancing investments with efficiency. They ended the quarter with a cash position of $6.85 million, supporting near-term milestones and global expansion. The company aims to capitalize on multiple revenue-generating opportunities worldwide, with investments in the US, Portugal, Taiwan, and India laying the foundation for long-term commercial deployment and revenue growth. Q: How does Eco Wave Power plan to address the challenges in the renewable energy sector? A: Ina Braveman, CEO, mentioned that Eco Wave Power's technology is a strategic solution to the urgent need for clean, abundant, and cost-effective electricity. The company is committed to sustainable, inclusive, and impactful innovation, working with partners like Alta Sea and Shell Marine Renewable Energy Program. They are also advancing feasibility studies in Africa to support the continent's emerging marine energy sector. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Q3 2025 marks significant progress with the launch of Eco Wave Power's first U.S. project, strategic advancements across Europe, Asia, and Africa, recognition by TIME as one of the Best Inventions of 2025, and a solid financial foundation to support ongoing global growth and commercialization of wave energy technology Stockholm, Sweden--(Newsfile Corp. - November 12, 2025) - Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a global leader in onshore wave energy technology, today announced its financial results for the nine months ended September 30, 2025, along with an update on its rapidly expanding international project portfolio. Management Commentary Q3 2025 has been a period of significant operational progress and international recognition for Eco Wave Power. Across all active project regions, the Company has continued to advance its mission of delivering reliable, clean, and commercially viable wave energy solutions, while maintaining a solid financial foundation. Operating expenses increased modestly by $65 thousand compared to Q2 2025, reflecting targeted investments in project execution and growth initiatives. As of September 30, 2025, the Company held $6.85 million in cash and short-term deposits, supporting ongoing development and global expansion. United States: Los Angeles Project Launch and Recognition as TIME's Best Inventions and "Future of Everything" on NBC News. In August 2025, Eco Wave Power announced that its U.S. pilot project at the Port of Los Angeles has successfully completed operational testing and achieved a historic milestone: the lowering of its innovative floaters into the water for the very first time. This major moment was broadcasted live and exclusively by Good Morning America, marking unprecedented national visibility for the advancement of wave energy technology. On September 9th, 2025, Eco Wave Power hit a historic milestone and launched the first ever U.S. Wave Energy Project at Port of Los Angeles, developed in collaboration with AltaSea and Shell Marine Renewable Energy (MRE). This historic project marks the first onshore wave energy installation in the U.S., showcasing Eco Wave Power's patented, award-winning technology and setting the stage for large-scale wave energy deployment along America's coastlines and worldwide. It also showcases our commitment to innovation, ESG leadership, and local economic engagement, including working with woman- and family-owned businesses. The launch comes at a pivotal time for California, aligning with the state's bold climate policies and Senate Bill 605, which calls for the creation of a comprehensive wave energy roadmap. Federal support is also growing, led by Congresswoman Nanette Díaz Barragán, who recently introduced the Marine Energy Technologies Acceleration Act, a $1 billion initiative to scale marine energy across the nation. On October 2025, U.S. Congresswoman Nanette Barragán (CA-44) visited the Company's onshore wave energy pilot station at AltaSea in the Port of Los Angeles and called for $1B Federal Investment in Wave Energy. The visit underscores the enormous potential for wave energy to become a major renewable energy source for U.S. coastal communities. During the same month, Eco Wave Power's pilot was named to TIME's Best Inventions of 2025 list, recognizing it as one of 300 innovations worldwide "changing the way we live, work, and think." The selection followed TIME's rigorous evaluation of originality, efficacy, ambition, and impact, with particular focus on solutions addressing climate change and sustainability. This recognition underscores Eco Wave Power's role in advancing wave energy as a meaningful new source of renewable power and was also featured in the "Feature of Everything" News Segment by NBC. Taiwan We commenced our Taiwan entry through an agreement with I-Ke International Ocean Energy Co., a subsidiary of Lian Tat Company. The project includes: Local manufacturing of floaters under our patented design. Supply of a turnkey 100KW conversion unit. I-Ke's responsibility for permitting and onshore production. In August 2025 I-KE was awarded the official land use tender from the Suao Port Company for the installation of a wave energy pilot station in Taiwan. This achievement marks the first time in Taiwan's history that a commercial port area has been opened for wave power testing, highlighting the nation's commitment to innovation and clean energy. This tender award is a first-of-its-kind event in Taiwan, setting an important precedent for the country's renewable energy sector. It directly supports Taiwan's national renewable energy transition strategy and positions Suao Port as a demonstration hub for low-carbon, smart, and innovative green energy. Facing the Pacific Ocean, the site offers stable, representative wave conditions with strong potential for commercial-scale wave power generation. The pilot project at Zone C is intended to serve as the foundation for a phased development roadmap, expanding to 20 MW in the medium term and potentially up to 400 MW of capacity across Taiwan's coastline. India Earlier this year, we signed an MoU with Bharat Petroleum Corporation Limited (BPCL), a Fortune 500 government-owned company, to explore wave energy deployment at the Mumbai Oil Terminal. BPCL will manage regulatory clearances, while we provide technology and optimization expertise. The collaboration — endorsed by India's Minister of Petroleum and Natural Gas — begins with a site assessment and is expected to lead to a pilot project in the world's ~40,000 MW ocean energy market. During this quarter Eco Wave Power has entered an agreement with RL Solutions, a local representative for the Company, meant to facilitate the purchase order from Bharat Petroleum to Eco Wave Power. Europe: First Megawatt-Scale Project in Portugal We advanced preparations for Portugal's first MW-scale wave energy power plant under our 20MW concession with Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A. (APDL). The Company also achieved the following tasks: Development of an advanced calculation tool together with Metocean to improve the accuracy of force analysis and station performance. Finalizing the design of drilling structures that will enable continuous work regardless of tide levels. Submission of the safety plan for the drilling and installation of the floaters. In conclusion, during this quarter, we have conducted an in-depth analysis of the wave forces, finalized the execution plan, and submitted to APDL a final revised execution plan in October 2025. As soon as the green light is provided by APDL, Eco Wave Power will proceed to the next step and intends to enter into subcontractor agreements with key subcontractors such as Siemens for the electric part of the project and others. The 1MW plant — planned for grid connection in 2026 — is designed to serve as a gateway for commercialization in Portugal, aligning with the country's renewable energy strategy. Israel: EWP-EDF One as an R&D Powerhouse Following its inauguration in December 2024, the EWP-EDF One project at Jaffa Port became Israel's first grid-connected wave energy system, operating under a Power Purchase Agreement with the Israeli Electric Corporation and recognized by the Ministry of Energy as "Pioneering Technology." Building on the operational insights gained from the EWP-EDF One project at Jaffa Port, Q3 focused on preparing the station for advanced testing under diverse sea conditions. Eco Wave Power initiated a dedicated project to calibrate the hydraulic system for varying wave states, with the objective of optimizing system responsiveness, efficiency, and reliability across a wider operational range. This calibration program will continue throughout the winter months, when higher and more energetic sea conditions are expected. The collected data will be used to fine-tune system parameters, validate predictive models, and support ongoing R&D aimed at improving power conversion performance and operational resilience. By leveraging real-sea conditions at Jaffa Port, Eco Wave Power continues to strengthen its position as a global R&D hub for onshore wave energy. While Jaffa Port experiences waves above 0.7 m about 30% of the time—making it a valuable R&D site rather than a 24/7 production facility—locations such as Portugal can offer around 90% availability. This enables wave energy to achieve substantially higher energy output per site footprint compared to other renewables, while utilizing existing port infrastructure and minimal land. Eco Wave Power will continue investing in R&D to lower equipment costs, advance toward competitive levelized costs of energy (LCOE), and unlock larger-scale commercial projects that can enhance value for partners and shareholders. Africa: Progress with Feasibility Study in South Africa In October 2025, we submitted a detailed MetOcean Report for the wave potential and wave forces at the Port of Ngqura, in line with the agreement with Africa Great Future Development Ltd (AGFDL). South Africa's 2,800+ km coastline and need for energy diversification make it a compelling long-term market. The port's breakwater infrastructure and deep-water access are ideal for our system's deployment. Financial Overview In Q3 2025, Eco Wave Power continued to strategically invest in growth while maintaining a strong financial position. Operating expenses increased 8% quarter-over-quarter to $888 thousand, reflecting a deliberate increase in Sales & Marketing spend to support the successful launch of our U.S. project. These investments were partially offset by lower R&D expenses (-12%) and reduced G&A costs (-5%), demonstrating disciplined cost management across other areas of the business. Other income nearly doubled, while financial expenses decreased by 81% due to lower foreign exchange losses. As a result, net loss declined by 28% quarter-over-quarter to $996 thousand, underscoring improved operational efficiency and financial discipline. The Company closed the quarter with a robust cash position of $6.85 million in cash and short-term deposits, providing a solid foundation to execute near-term project milestones, accelerate global expansion, and capitalize on emerging opportunities in the rapidly growing renewable energy market. CEO commentary: This quarter marks a historic period for Eco Wave Power, as we achieve major milestones that reinforce our position as a global leader in wave energy technology. The successful launch of our first U.S. project at the Port of Los Angeles represents not only a technical achievement but also a moment of unprecedented visibility for wave energy, highlighted by national coverage on Good Morning America and recognition by TIME as one of the Best Inventions of 2025. Our U.S. pilot project demonstrates the reliability and scalability of our patented floaters and positions Eco Wave Power at the forefront of a rapidly emerging wave energy market in the United States. The engagement from local partners, including AltaSea, Shell Marine Renewable Energy, and small woman- and family-owned businesses, underscores our commitment to innovation, ESG principles, and community impact. Beyond the United States, we have made meaningful progress across multiple continents. In Taiwan, our partnership with I-Ke International Ocean Energy has resulted in the first-ever commercial port area tender for wave energy testing, laying the foundation for medium- and long-term expansion. In India, our collaboration with Bharat Petroleum establishes a foothold in one of the world's largest untapped ocean energy markets, while in Europe, we continue preparations for Portugal's first megawatt-scale plant, aligning with the country's renewable energy roadmap. Our operations in Israel continue to strengthen our R&D capabilities, with the EWP-EDF One project at Jaffa Port enabling advanced testing and calibration to improve efficiency, reliability, and predictive modelling. Similarly, in Africa, we are advancing feasibility studies to explore wave energy opportunities at the Port of Ngqura, positioning us to support emerging energy markets with scalable, clean solutions. We are proud that our progress is supported by a solid financial foundation, with $6.85 million in cash and short-term deposits to fuel ongoing growth and execution. While operating expenses increased modestly by $65 thousand compared to Q2, these investments directly support our strategic expansion and project execution globally. Our disciplined financial management this quarter, combined with targeted investments in Sales & Marketing for the U.S. project launch, enabled us to reduce net loss by 28% quarter-over-quarter to $996 thousand. Operating expenses reflected strategic increases in Sales & Marketing, partially offset by reductions in R&D (-12%) and G&A (-5%), demonstrating our focus on both growth and efficiency. Other income nearly doubled, and financial expenses decreased by 81% due to lower foreign exchange losses, further strengthening our financial position. Looking ahead, global electricity demand is accelerating at an unprecedented pace, fueled by the rapid growth of energy-intensive sectors such as artificial intelligence, data centers, and advanced manufacturing. Eco Wave Power is uniquely positioned to meet this challenge, delivering scalable, reliable, and renewable wave energy solutions that can power the industries of tomorrow while supporting the global energy transition. Our technology is not only an environmentally responsible solution, it is a strategic answer to the world's urgent need for clean, abundant electricity. Inna Braverman, CEO Nine Months Ended September 30, 2025 Financial Overview For the nine months ended September 30, 2025, operating expenses increased to $2.48 million compared to $1,966 thousand for the nine months ended September 30, 2024, primarily due to investments in the U.S., in Portugal, and in Asia projects. Research and development expenses rose by $157 thousand, to $591 thousand for the nine months ended September 30, 2025, compared to $434 thousand for the nine months ended September 30, 2024, mainly to support engineering efforts and project development. Sales and Marketing costs increased by $82 thousand to $293 thousand for the nine months ended September 30, 2025, compared to $211 thousand for the nine months ended September 30, 2024, reflecting the U.S. pilot project launch. General & Administrative expenses increased by $295 thousand to $1,611 thousand for the nine months ended September 30, 2025, compared to $1,316 thousand for the nine months ended September 30, 2024, driven by staffing, professional fees, and travels for international expansion. Other income more than doubled to $78 thousand for the nine months ended September 30, 2025 compared to $36 thousand for the nine months ended September 30, 2024, reflecting gains from demonstrating our technology in Asia and a gain on extinguishment of financial liability. Net financial loss was $412 thousand for the nine months ended September 30, 2025, compared to $394 thousand net financial income for the nine months ended September 30, 2024, reflecting foreign exchange loss resulting from the appreciation of the SEK and the NIIS against the U.S. dollar. Net loss increased to $2,888 thousand for the nine months ended September 30, 2025, compared to $1,572 thousand for the nine months ended September 30, 2024, reflecting higher operating expenses and foreign exchange impacts. The Company maintained a strong cash position of $6.85 million, supporting ongoing execution and global expansion plans. Conference Call and Webcast Information The Chief Executive Officer of Eco Wave Power, Inna Braverman and the Company's Chief Financial Officer, Aharon Yehuda, will host a conference call to discuss the financial results and outlook on Thursday, November 13, 2025, at 9:00 AM Eastern time. The dial-in numbers for the conference call are 877-545-0523 (toll-free) or +973-528-0016 (international). If requested, please provide participant access code: 299747. The event will be webcast live, available at: https://www.webcaster5.com/Webcast/Page/2922/53236 A replay will be available by telephone approximately four hours after the call's completion until Thursday, November 27, 2025. You may access the replay by dialing 877-481-4010 from the U.S. or 919-882-2331 for international callers, using the Replay ID 53236. The archived webcast will also be available on the investor relations section of the Company's website. About Eco Wave Power Global AB (publ) Eco Wave Power Global (NASDAQ: WAVE) is a pioneering onshore wave energy company that transforms the power of ocean and sea waves into clean, reliable, and cost-efficient electricity through its patented, intelligent technology. With a mission to accelerate the global transition to renewable energy, Eco Wave Power developed and operates Israel's first grid-connected wave energy power station, recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and co-funded by EDF Renewables IL. In the United States, the company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy (Shell MRE). Eco Wave Power is expanding rapidly worldwide, with upcoming projects in Portugal, Taiwan, and India, representing a robust project pipeline of 404.7 MW under development. The company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honored with the United Nations Global Climate Action Award. Eco Wave Power's American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol "WAVE." For more information, please visit www.ecowavepower.com. Note: Information available on or through the websites mentioned herein does not form part of this press release. For press inquiries, please contact: [email protected] For more information, please contact: Aharon Yehuda, CFO [email protected] Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses its expectation that there is enormous potential for wave energy to become a major renewable energy source for U.S. coastal communities, the expectation that the Company intends to enter into subcontractor agreements with key subcontractors such as Siemens for the first MW-scale wave energy project in Portugal, that the MoU the Company signed with Bharat Petroleum is expected to lead to a pilot project in the world's ~40,000 MW ocean energy market, the Suao Port in Taiwan offers stable, representative wave conditions with strong potential for commercial-scale wave power generation, that the Suao Port pilot project at Zone C is intended to serve as the foundation for a phased development roadmap, expanding to 20 MW in the medium term and potentially up to 400 MW of capacity across Taiwan's coastline, and that the Company will continue investing in R&D to lower equipment costs, advance toward competitive levelized costs of energy (LCOE), and unlock larger-scale commercial projects that can enhance value for partners and shareholders. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will", or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2024 filed with the SEC on March 3, 2025, which is available on the on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release. Eco Wave Power Global AB (publ) CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) Eco Wave Power Global AB (publ) CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274141