22 slides from Ocean Power Technologies's proxy contest presentation, Jan 17, 2024
Slide 1: Investor Presentation January 2024
OPT @¢ Investor Presentation January 2024 Energizing Ocean intelligence™
Slide 2: Next-Gen Maritime Intelligence Powered by Wave Energy
Seamless Mai ime Domain Awareness. © Hutisoncosinttioenessuvelonce&seconnieonecpsbiiee © seb1e:communiaionaytme& samas die tant or rea-me colaborton © scopy th chr pleormsaes estas ris aeration © ne endurance operations entarcing psn surance Enabling Next-Gen Maritime Intelligence Powered by Wave En
Slide 3: Unlimited Surveillance & Connectivity
Unlimited Surveillance & Connectivity Proven platforms for persistent, seamless, unmanned maritime surveillance powered by proprietary ocean-energy technology, providing smarter and faster actionable insights in the defense, security and commercial sectors PowerBuoy® MDAS & Ocean Intelligence WAM-V@
Slide 4: OPT Market Opportunity
OPT Market Opportunity 6) Demand for Maritime Romain SurvelMance screwing (8 Growth in the Unmanned Sea Systems Market is Pronounced $60 $4,500 $45 > $4,000 ad ; ao se coc soato cnet eee seed $3,000 ee sa $2,800 “on $25 ’ -— $20 $2,000 $15 $1,800 s10 $1,000 $8 $500 s s 2023-2024 «2025-2026 «2027-202
Slide 5: Data as a Service (DAAS) Market Opportunity
Data as a Service (DAAS) Market Opportunity $42,300M OPT @ Estimated Total Market Opportunity Estimate of Targeted Niche 3-Yr Target Market id mobile ower source, which presents an Energizing Ocean Intelligence™ . zl OPT target market estimate of $80M for DAAS is primarily driven by opportunities in
Slide 6: Delivery Focused Organization
Delivery Focused Organization Optimized headcount reduces quarterly spend by over $1.1 million versus budget Focus on Delivery - shift to “as a Service” increases gross profit margin Cash Forecast Wi iocrease ML Decrease Bl Total FY26 (Calendar 2025) - 6 quarters from today using EBITDA breakeven (e
Slide 7: New Management Team
i New Management Team \ H 1 H 1 2009 t ' 1 ‘Trend is consistent with long-term revenue growth 1 and our operating business cycle. 1 9000 n 1 1 1 sec00 ! 7 I J i s00 |_| 2021 so2t 4021 1022 202, Revenue (8) Energizing Ocean Intelligence™
Slide 8: Total Pipeline by Product and Phase
Total Pipeline by Product FY24 Pipeline by Phase 4$219M $03M $360M $13.9M ‘Power Buoy + Power Buoy & WAM. = WAM. Proposal issued Customer Review Negotiation Total Near-Term Opportunities Pipeline a= of 10/31 Energizing Ocean Intelligence™
Slide 9: Strong revenue growth from defense and security customers
8) ‘Strong revenue growth from defense and security customers Revenue Growth Profile ($M) > Goal of $15M in FY26 bookings $35.0 Large addressable markets across commercial, military and government arenas, > Commercial: Offshore oll & gas, renewable eneray > Military: Maritime domain awareness, borde
Slide 10: Market, Application & Customer
Market, Application & Customer Offshore Wind Daas (buoys and vehicles) Maritime Domain Awareness Intelligence, Surveillance, and Reconnaissance Explosive Ordinance + Metocean Data + Hydrographic Survey + Robotics asa Service Well Monitoring Hydrographic Survey Mammal Monitoring Noise Monitoring Insp
Slide 11: Significant activity for our target range of industries
Significant activity for our target range of industries + Defense & Security - expand the use of autonomous and resident technologies + Offshore Oil & Gas - expand power capabilities and assist in survey work and monitoring wells + Science & Research - wants more accurate and timely information + Co
Slide 12: Why OPT Wins
Why OPT Wins Competitors struggl OPT's unique capabil Persistent Parsrent & pplers Intelligence ISR ‘powered by Solutions uti ay baat com Differentiated ore 4 lective | Interoperabilit systerns bare raid perso ao Energizing Ocean Intelligence™ tomatch
Slide 13: Board of Directors consisting of six Directors, five independent
+ Board of Directors consisting of six (6) Directors, five (5) of which are independent * Board recently refreshed with five (5) of the six (6) Directors added within the last three (3) years + Directors actively engaged in overseeing management's strategy to create shareholder value + Board has bro
Slide 14: Strong corporate governance practices
Strong corporate governance, highlighted by the following practices: * No staggered or classified board. All directors stand for election at each annual meeting of stockholders * CEO is only management representative on Board + Alldirectors (other than CEO) qualify as independent directors under the
Slide 15: Dr. Philipp Stratmann, EngD, President, Chief Executive Officer
Dr. Philipp Stratmann, EngD President, Chief Executive Officer December 2019 CEO since June 2021 Dr Philipp Stratmann is OPTs President and Chief Exccut've Officer, based in the company’s New Jersey headquarters Philipp joined OPT in Decomer 2019.98 Viee President, Global Business Devesopment, bring
Slide 16: Clear Strategy - First mover advantage on DaaS and PaaS
Clear Strategy - First mover advantage on Daas (Data-as-a- Service} and PaaS (Power-as-a-Service] On path to profitable operations and free cash flow in 6 quarters Seasoned Management Team - with significant marine and defense experience that understands working with the government. Long-Term and mu
Slide 17: Contact Us
Contact Us & Bob Powers, CFO OPT Headquarters 28 Engelhard Drive, STE B \ +1 609 730 0400 x239 62 Rpowers@oceanpowertech.com Monroe Township, NJ 08831 Energizing Ocean Intelligence™
Slide 18: Forward-looking statements
In addition to historical information, this presentation contains forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, those statements relating to OPT's forecas
Slide 19: Pipeline
Pipeline Pipeline is not a term recognized under United States generally accepted accounting principles; however, it is a common measurement used in our industry. Our methodology for determining pipeline may not be comparable to the methodologies used by other companies. Pipeline is a representation
Slide 20: Additional information about proxy statement
OPT has filed with the SEC a revised definitive proxy statement on Schedule 14A on December 4, 2023, including a form of WHITE proxy card, and other relevant documents with respect to its solicitation of proxies for OPT’s 2023 Annual Meeting of Stockholders scheduled to be held on January 31, 2024 (
Slide 21: Participants in the solicitation
OPT, its directors, and certain executive officers may be deemed to be participants in the solicitation of proxies with respect to a solicitation by OPT in connection with matters to be considered at its 2023 Annual Meeting of Stockholders scheduled to be held on January 31, 2024 (the “2023 Annual M
Slide 22: Thank You
cre ae | 7 ® THANK YOU Energizing Ocean intelligence™