Eco Wave Power Global (WAVE) investor relations material

Executive summary

• Operating expenses for H1 2025 totaled $1.6M, up 18% or $239K from H1 2024, reflecting increased investment in R&D and project execution.

• Achieved major operational milestones across the U.S., Europe, Asia, and Africa, including U.S. installation completion, Portugal MW-scale project advancement, and new market entries in India, Taiwan, and South Africa.

• Net loss for H1 2025 widened to $1.9M, mainly due to growth investments and foreign exchange impacts.

• Ended the period with $7.94M in cash and short-term deposits, supporting ongoing and future projects.

• Strengthened leadership with the addition of Hilary Ackerman to the Board and continued ADS repurchase program.

Financial highlights

• General and administrative expenses increased 22% to $1.1M, driven by new U.S. hires and project-related travel.

• R&D expenses rose to $399K, up 25% year-over-year, mainly due to the Portuguese project and engineering expansion.

• Sales and marketing expenses decreased by $123K, down 10% year-over-year, due to more efficient investor communication.

• Other income nearly doubled to $62K from technology demonstration services in Asia.

• Loss per share was $(0.04) for H1 2025, compared to $(0.02) for H1 2024.

Outlook and guidance

• Expects R&D, sales and marketing, and G&A expenses to materially increase as project pipeline expands in new geographies.

• Portugal MW-scale plant planned for grid connection in 2026, serving as a commercialization gateway.

• U.S. Los Angeles project to officially launch in September 2025.

• Focus remains on delivering long-term value to shareholders while investing in technology and global expansion.

• Strong cash position provides a foundation for continued growth and project funding.