17 slides from Ocean Power Technologies's proxy contest presentation, Dec 4, 2023
Slide 1: Investor Presentation December 2023
OPT @¢ Investor Presentation December 2023 Energizing Ocean Intelligence
Slide 2: OPT Quick Facts
OPT QUICK FACTS OPT is OCEAN INTELLIGENCE: + Providing a wide range of ocean data + Responding to marine hazards and weather + Managing marine ecosystems + Mammal Tracking + Illegal Fishing (West Africa and Mediterranean) + Maritime safety and security — border monitoring/bad actors Organization: 70
Slide 3: PowerBuoy MDAS and Ocean Intelligence WAM-V ASVs
PowerBuoy® MDAS and Ocean Intelligence WAM-V® ASVs + Wave Adaptive Modular Vehicle + Capture energy generated by waves + Hydrographic survey “Store that energy in batteries “Mert Domain varenoss = Unmanned Surface Vehicle + Use that energy to power payloads. + Mammal Tracking * Stable, portable, hig
Slide 4: Target markets: DaaS and PaaS offerings by industry
Defense & Offshore Science & 6 Communica e Offshore @ Security Oil & Gas Research tions Wind * Maritime Dorin + Well Monitoring + Metocean Data ‘Mama Monitoring Awareness Hydrographic Suvey | + ‘Hydrographic Survey Noise Monitoring + nteligence, Inspection, Repair and Suvelance, and Maintenance Supp
Slide 5: Significant activity for our target range of industries
Significant activity for our target range of industries + Defense & Security — expand the use of autonomous technolo: + Offshore Oil & Gas - expand power capabilities and assist in monitoring wells Non-Gria| + Science & Research — wants more accurate and timely information connected + Communications
Slide 6: Revenues (in 000's)
Revenues (in 000's) Revenue Growth Delivered By New Management Team $6000 ss000 s4on0 $3000 $2000 s1000 | s rant 3021 sant 1022 2022 4002 1023 2023 3023 4003 12s revenues $1180 $3170 solo $2720 S270 $760 «§7140 s3030 «$7340 soso S12720
Slide 7: Optimized headcount reduces quarterly spend
+ Optimized headcount reduces quarterly spend + Focus on Delivery + Positive cashflow (excluding extraordinary expenses) in FY26 (Calendar 2025) — 6 quarters from today using current cash available Delivery Focused Organization Pipeline By Product ($M) Pipeline By Phase ($M) ys Discovery scoping Pro
Slide 8: Our Value Proposition
OUR VALUE PROPOSITION Decreases/eliminates costs for customers + PowerBuoy® and WAM-V® reduce reliance on costly crewed vessel operations Improves safety and decreases risk for customers + Allows remote operations from shore, removing personnel from ocean operations Speeds decision-making for custom
Slide 9: Management team
p Stratmann, EngD President & Chief Executive Officer December 2019 CEO since June 2021 Robert Powers, CPA, MBA Senior Vice President & Chief Financial Officer December 2021 Matthew Burdyny Chief Commercial Officer March 2022
Slide 10: OPT Investment Highlights
OPT INVESTMENT HIGHLIGHTS Revenue Forecast Clear Strategy - First mover advantage on DaaS (Data-as-a- Service) and PaaS (Power-as-a-Service) 7 New Management Team ia On path to profitable operations and free cash flow in 6 quarters Seasoned Management Team — with significant marine and defense exper
Slide 11: September 7, 2023: NOAA IDIQ Award
* September 7, 2023: NOAA IDIQ Award * 3separate contracts Potentially multi million-dollar award, one of the largest in the company’s history, 3-year contract Proven, reliable U.S. Government Contractor building on our success in defense and national security We will provide uncrewed services for l
Slide 12: Seasoned management, strong balance sheet, expanded business model
OPT @4 + Seasoned Management Team * Strong Balance Sheet + Expanded Business Model and Strategy Defense & Security Offshore Oil & Gas Science & Research Communications Offshore Wind
Slide 13: 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 14: Pipeline definition
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 15: Definitive proxy statement and WHITE proxy card notice
OPT has filed with the SEC a definitive proxy statement on Schedule 14A on November 29, 2023, including a form of WHITE proxy card, and other relevant documents with respect to its solicitation of proxies for the 2023 Annual Meeting. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PR
Slide 16: Participants in the solicitation
OPT, its directors, executive officers, and other members of management and employees 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 the 2023 Annual Meeting. Information about OPT’s executive office
Slide 17: Thank You - Investor Contact
OPT @ Thank You Investor Contact Bob Powers, SVP and CFO. +1 609 730 0400 x239 RPowers@oceanpowertech.com