Company Overview - Eco Wave Power Global AB is a leading onshore wave energy company that focuses on converting ocean and sea waves into sustainable electricity using patented technology [70][71]. - The company operates the world's first grid-connected wave energy system in Israel, recognized as "Pioneering Technology" by the Israeli Energy Ministry [71]. Annual General Meeting Details - The annual general meeting is scheduled for June 30, 2025, at 10:00 a.m. CEST in Stockholm, with registration starting 30 minutes prior [1]. - Shareholders must be registered by June 19, 2025, and notify the company of their attendance by June 24, 2025 [2][3]. Proposed Agenda and Resolutions - The agenda includes the election of a chairman, approval of the 2024 annual report, and resolutions regarding the allocation of the company's results, among others [7][8]. - The board proposes to carry forward the company's result without paying a dividend for the financial year 2024 [8]. Changes to Articles of Association - Proposed changes include increasing the share capital limits from SEK 880,000 to SEK 935,000 and the number of shares from 44,000,000 to 46,750,000 [9][10]. - The company plans to issue two types of shares: series A shares with ten votes each and ordinary shares with one vote each [10]. Long Term Incentive Programs - The board proposes a long-term incentive program (LTIP) involving the issuance of up to 7,256,798 warrants, allowing participants to subscribe for new shares at a price of SEK 0.02 [30][33]. - The LTIP aims to align the interests of participants with the company's growth and performance [32]. Financial Implications - Full exercise of the proposed warrants will result in a dilution of approximately 13.05% of the company's share capital and 60.04% of voting rights [36][49]. - The company currently has a total share capital of SEK 935,896.88 divided into 46,794,844 shares [46]. Shareholder Proposals - The board of directors consists of five members, with a proposal to increase the number to six and to re-elect current members [63][64]. - Proposed fees for the board total SEK 1,092,357, with specific amounts allocated to each member [64].

Core Viewpoint - Eco Wave Power Global AB has achieved a significant milestone in the development of its first 1MW wave energy power station in Porto, Portugal, by paying 50% of the grid connection fee, indicating progress in the project's implementation [1][4]. Project Development - The payment made to E-REDES, the Portuguese electricity distribution system operator, represents a crucial step in securing access to the national distribution grid [4]. - Eco Wave Power has accepted the connection conditions for the public grid related to the UPP/5089 power plant, which is part of the formal application process [5][6]. - A tentative grid-connection date has been set for 2026, subject to final permitting and construction procedures [6]. Strategic Importance - The project is a cornerstone of Eco Wave Power's European growth strategy and marks its first megawatt-scale deployment in the region, with a 20MW concession agreement signed with APDL [8]. - The trajectory of the project accelerated after receiving the final permit from APDL in March 2024, allowing physical works to commence [9]. Infrastructure and Management - Key infrastructure enhancements began in February 2025 at "The Gallery," preparing it for equipment installation and public access [10]. - The company appointed Juan José Gómez as Power Station Manager and engaged MOQ Engineering for final design work, ensuring a robust execution of the project [11]. Industry Context - Portugal aims to source 85% of its electricity from renewables by 2030, up from 61% in 2023, making it a strategic partner for Eco Wave Power's technology [13]. - The country is recognized as a leader in wave energy commercialization, providing a favorable regulatory framework for marine renewable innovations [13].

Financial Data and Key Metrics Changes - For Q1 2025, Ecowave Power recorded a net loss of $500,005, an improvement from $527,000 in the same period last year, reflecting ongoing cost discipline while supporting project development [2][6] - Operating expenses increased to $765,000 from $659,000 in Q1 2024, primarily due to growth in engineering and execution work related to projects in Los Angeles and Portugal [3] - Cash and short-term deposits as of March 31, 2025, were $8,800,000, down from $9,300,000 at the end of 2024, attributed to development stage spending [4] Business Line Data and Key Metrics Changes - In Los Angeles, the company moved from permitting to production, with a floater manufacturing agreement signed in April [6][7] - In Portugal, engineering designs were finalized, and groundwork has begun, with equipment procurement and installation expected later this year [7] - The AWP EDF-one installation at Jaffa Port achieved zero downtime in Q1, with successful testing of 10 floaters demonstrating an average power output of 13 kilowatts [8] Market Data and Key Metrics Changes - Partnerships in India and Taiwan reached new milestones, with a MOU in India setting the stage for site assessment and a sale agreement in Taiwan moving into detailed permitting [7][8] - The company anticipates a purchase order in Q2 from Bahad Petroleum in India [7] Company Strategy and Development Direction - The company is focused on maintaining a healthy balance sheet while advancing the commercialization of its Wave Energy technology [4] - An advisory board was established to strengthen governance and strategic direction, with Hilary Ackerman joining as the first member [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue investing in its global pipeline while preserving flexibility for new opportunities [6] - The company remains committed to building a diversified and resilient wave energy business, with ongoing R&D efforts aimed at reducing floater costs and streamlining installation [9] Other Important Information - The company expects to finalize floaters in Los Angeles by the end of Q2 2025 and is on track for a 2026 startup in Portugal [4][7] Q&A Session Summary Question: What are the updates on the projects in Los Angeles and Portugal? - The company has moved swiftly from permitting to production in Los Angeles, with a floater manufacturing agreement signed, and in Portugal, engineering designs have been finalized with groundwork underway [6][7] Question: How is the company managing its cash flow amid project developments? - The company reported a reduction in net loss and maintains a cash balance that allows for continued investment while managing development stage spending [2][4]

Financial Data and Key Metrics Changes - For Q1 2025, Ecowave Power recorded a net loss of $500,005, an improvement from $527,000 in the same period last year, reflecting ongoing cost discipline while supporting project development [2][6] - Operating expenses increased to $765,000 from $659,000 in Q1 2024, primarily due to growth in engineering and execution work related to projects in Los Angeles and Portugal [3] - Cash and short-term deposits as of March 31, 2025, were $8,800,000, down from $9,300,000 at the end of 2024, attributed to development stage spending [4] Business Line Data and Key Metrics Changes - In Los Angeles, the company moved from permitting to production, with a floater manufacturing agreement signed in April, expected to be completed by the end of Q2 2025 [6][7] - In Portugal, engineering designs were finalized, and groundwork has begun under a 20 megawatt concession agreement, with equipment procurement and installation anticipated later this year [7] - The AWP EDF-one installation at Jaffa Port in Israel logged zero downtime in Q1, with successful testing of 10 floaters demonstrating an average power output of 13 kilowatts [8] Market Data and Key Metrics Changes - Partnerships in India and Taiwan reached new milestones, with a site assessment planned at the Mumbai oil terminal and a sale agreement in Taiwan moving into the detailed permitting phase [7][8] - The company anticipates a purchase order in Q2 for the Indian project, indicating progress in international markets [7] Company Strategy and Development Direction - The company is focused on maintaining a healthy balance sheet while advancing the commercialization of its wave energy technology [4] - An advisory board was established to strengthen governance and strategic direction, with a member appointed who has extensive experience in energy and sustainability [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue investing in its global pipeline while preserving flexibility for new opportunities [6] - The company remains committed to building a diversified and resilient wave energy business, with expectations for further progress throughout the year [10] Other Important Information - The company is focusing its R&D efforts in 2025 on reducing floater costs and streamlining installation processes [8] Q&A Session Summary - No specific questions or answers were recorded in the provided content, as the call concluded without a Q&A segment [11]

Project Development - Eco Wave Power has secured Revocable Permit 25-05 from the Port of Los Angeles for its wave energy project, marking a significant step in its U.S. market expansion[1] - The pilot project is co-funded by Shell Marine Renewable Energy and is expected to be completed within 2-3 months, following the final permit approval[2] - The project will utilize approximately 10,396 square feet of land and 2,016 square feet of water area for the installation of its wave energy conversion system[3] - Up to eight wave energy floaters will be installed on an existing concrete wharf structure, with an energy conversion unit consisting of two 20-foot shipping containers[4] Energy Potential - The U.S. Department of Energy estimates that wave energy could generate over 1,400 terawatt-hours per year, enough to power approximately 130 million homes[5] Industry Impact - This pilot project is seen as a crucial step toward the commercialization of wave energy, enhancing Eco Wave Power's leadership in the industry[6] - Eco Wave Power is preparing to install projects in multiple locations, including the Port of Los Angeles, Taiwan, and Portugal, contributing to a project pipeline totaling 404.7 MW[7]

Core Viewpoint - Eco Wave Power has received the final permit necessary to begin construction of its wave energy pilot project at the Port of Los Angeles, marking a significant step in the company's expansion into the U.S. market [1][6]. Group 1: Project Details - The company has been granted Revocable Permit 25-05 for the construction and demonstration of its wave energy technology at Berth 70 in San Pedro, California [1][3]. - The pilot project is co-funded by Shell Marine Renewable Energy and will utilize approximately 10,396 square feet of land and 2,016 square feet of water area for the installation of its wave energy conversion system [4]. - Up to eight wave energy floaters will be installed on an existing concrete wharf structure, with an energy conversion unit consisting of two 20-foot shipping containers placed on the wharf deck [5]. Group 2: Timeline and Implementation - With all necessary permits secured, Eco Wave Power plans to complete the installation within 2-3 months, aiming for completion by the end of the second quarter of 2025 [3][5]. - The conversion unit has already been shipped and is located on-site, indicating readiness for the next steps in the project [5]. Group 3: Industry Impact and Future Prospects - The U.S. Department of Energy's National Renewable Energy Laboratory estimates that wave energy could generate over 1,400 terawatt-hours per year, enough to power approximately 130 million homes, highlighting the potential of wave energy as a clean power source [6]. - This pilot project is expected to serve as a model for future large-scale wave energy installations across the United States and beyond, reinforcing Eco Wave Power's position as a leader in the industry [7]. Group 4: Company Background - Eco Wave Power is recognized for its patented technology that converts ocean and sea waves into sustainable electricity, with a project pipeline totaling 404.7 MW [8]. - The company has received support from various prestigious institutions, including the European Union Regional Development Fund and the United Nations' Global Climate Action Award, underscoring its commitment to combating climate change [8].

Core Viewpoint - D-Wave Quantum (QBTS) has experienced significant stock price appreciation due to strong growth in bookings and an expanding customer base in the quantum computing market [1][2][5]. Group 1: Financial Performance - QBTS shares surged 62% following the announcement of fourth-quarter 2024 results, with bookings increasing 502% year-over-year to $18.3 million [1]. - The Zacks Consensus Estimate for 2025 revenues is projected at $15.42 million, reflecting a year-over-year increase of 76.23% [11]. Group 2: Market Position and Growth Drivers - QBTS has broadened its customer base to 135 clients, including 76 commercial customers, with 28 being Forbes Global 2000 companies [9][10]. - The global quantum computing market was valued at approximately USD 1.42 billion in 2024 and is expected to grow at a compound annual growth rate of 20.5% from 2025 to 2030 [7]. - Partnerships with companies like Carahsoft and Zapata Computing have been instrumental in expanding QBTS's reach in the public sector [8]. Group 3: Technological Advancements - In the fourth quarter of 2024, QBTS launched on-premises systems for quantum experimentation and calibrated its third 4,400-qubit Advantage2 processor, enhancing performance metrics [5][6]. - The Julich Supercomputing Centre acquired a D-Wave Advantage annealing quantum computer, integrating it with Europe's exascale JUPITER supercomputer [5]. Group 4: Competitive Landscape - QBTS faces increasing competition from companies like Rigetti Computing, IBM, Alphabet, and IonQ, which are advancing their quantum technologies [13][14]. - Rigetti Computing's recent collaboration with Quanta Computer, committing over $100 million, exemplifies the competitive pressures in the quantum computing sector [15]. Group 5: Valuation Concerns - QBTS stock is considered overvalued, trading at a forward 12-month Price/Sales ratio of 158.54X, significantly higher than the sector average of 5.81X [18].

Exhibit 99.1 Eco Wave Power Files Annual Report on Form 20-F for the Year Ended December 31, 2024, and Reports Significant Progress in Financial and Operational Results 30% Reduction in Net Cash Used for Operations, 7% Decrease in Operating Expenses, 11% Increase in Cash Position, First Revenues from Sale of a Pilot Station, Federal License Secured for Port of LA Project, Megawatt-Scale Project Advancing in Portugal, and an MOU with Fortune 500 Bharat Petroleum in India Stockholm, Sweden – March 3, 2025 – E ...

Core Insights - Eco Wave Power has made significant progress in financial and operational results for the fiscal year ended December 31, 2024, including a 30% reduction in net cash used for operations and an 11% increase in cash position [1][4][28]. Financial Performance - The company reported a 7% decrease in operating expenses compared to 2023, contributing to a cumulative 32% reduction since 2022 [5][36]. - Cash and deposits reached $9.3 million as of December 31, 2024, an increase from $8.4 million at the end of 2023 [5][36]. - Total revenues and other income amounted to $393 thousand, reflecting a 21.7% increase from $323 thousand in 2023 [5][36]. - Operating loss decreased by $75 thousand, or 3%, to $2,338 thousand for the year ended December 31, 2024 [36][46]. Major Project Developments - The EWP-EDF One wave energy project at Jaffa Port became the first wave energy project in Israel supplying clean energy to the national grid [7][29]. - The company secured a final federal permit for its wave energy project at the Port of Los Angeles, with procurement and installation works set to commence in the first quarter of 2025 [10][12]. - Progress was made on a megawatt-scale wave energy project in Portugal, with key appointments and engineering advancements [13][16]. - A wave energy project sale agreement was signed with I-Ke International Ocean Energy Co. in Taiwan, marking the company's entry into the Asian market [17][19]. - A memorandum of understanding was signed with Bharat Petroleum Corporation Limited in India to develop wave energy projects, starting with a feasibility study [21][24]. Research and Development - Planned R&D in 2025 aims to refine the wave energy formula to improve energy generation efficiency [9][31]. - The company anticipates an increase in R&D expenses due to the implementation of projects in the U.S., Portugal, and Taiwan [36][43]. Market Position and Future Outlook - Eco Wave Power is positioned for long-term success in various markets, including Portugal, Los Angeles, and Taiwan, with a focus on financial efficiency and project execution [4][30]. - The company aims to maximize energy production and continue its growth trajectory in 2025 [31][34].

Financial Performance - The company incurred net losses of $2.11 million and $1.87 million for the fiscal years ended December 31, 2024, and 2023, respectively, with an accumulated deficit of $15.1 million as of December 31, 2024[52]. - The company has a history of operating losses and may not achieve profitability or positive cash flow in the near future[52]. - The company expects to incur additional ongoing costs associated with operating as a U.S. listed public company[59]. - The company may need to raise substantial additional funding to commercialize its products, which may not be available on acceptable terms[54]. - The company faces significant risks related to its financial position and capital requirements, which could materially affect its business operations[46]. - The company has received royalty-bearing grants that require it to pay royalties on certain projects, impacting its revenue generation and profitability efforts[63]. - The company may face indemnification obligations under various contracts, which could adversely impact its financial condition if obligations exceed insurance coverage[110]. - The company has never declared or paid cash dividends on its share capital and does not anticipate doing so in the foreseeable future[190]. - The company estimates that compliance with public company reporting requirements will incur additional expenses of at least several hundred thousand dollars annually[207]. Cash and Funding - As of December 31, 2024, the company's cash, cash equivalents, and short-term bank deposits totaled $9.3 million, expected to fund operations for at least the next 12 months[54]. - The company relies on government subsidies and grants for its renewable energy projects, and any reduction or elimination of these incentives could adversely affect its financial condition[60]. - The company is obligated to comply with various reporting requirements and project milestones under its grant agreements, with noncompliance potentially resulting in enforcement actions[175]. Intellectual Property and Technology - The company has filed multiple patent applications but cannot guarantee that any will result in issued patents, which may affect its ability to protect its proprietary technology[66]. - The company may not be able to enforce its intellectual property rights effectively in foreign jurisdictions, limiting its competitive advantage[68]. - The company relies on trade secret protection and confidentiality agreements to safeguard proprietary know-how that is not patentable, but acknowledges that trade secrets can be difficult to protect[70]. - The company has entered into cooperation agreements with partners, which may restrict its commercial use of jointly developed intellectual property[78]. - Future success depends on achieving cost savings over existing solutions; failure to demonstrate cost competitiveness may hinder commercialization and profitability[151]. - Continuous improvement and timely introduction of new products are critical; delays or failures in product development could adversely affect financial results[152]. - The company is focused on developing a smart and cost-efficient wave energy converter (WEC) technology that aims to revolutionize energy production and capture a share of the $3.4 trillion expected investment in the renewable energy sector over the next decade[215][220]. Market and Competition - The company faces intense competition from larger entities with greater resources, which could hinder its ability to develop and commercialize wave energy projects effectively[117]. - The anticipated growth in demand for renewable energy may not materialize, potentially reducing market opportunities and revenues for the company's products[113]. - The company may face significant competition in its targeted markets, which include energy, engineering, and coastal cities[134]. - The market price of renewable energy sources is volatile, which may significantly impact the company's revenue and profitability[122]. Regulatory and Compliance Risks - The company operates under various environmental laws and regulations, and non-compliance could severely damage its business and financial position[81]. - The company is required to obtain permits for operations in different regions, and difficulties in obtaining these permits could limit its ability to grow[82]. - Changes in environmental laws and regulations could reduce demand for the company's services and impact revenue timing[83]. - Compliance with privacy regulations such as GDPR is critical, as failure to comply may result in significant fines and penalties, adversely affecting the company's financial condition and reputation[100][101]. - The company is not currently regulated as an electric public utility, but future regulations could impose significant operational restrictions and increase costs[102]. - The company is subject to risks associated with international operations, including compliance with complex laws and potential anti-corruption violations[90]. Operational Challenges - The company may experience challenges in managing growth, which could disrupt operations and lead to increased expenses and reduced revenue generation capabilities[111]. - The sales cycle for larger public sector customers may be longer and more costly, potentially delaying revenue recognition and increasing operational complexities[114]. - The company relies heavily on key personnel, and the loss of executives could adversely affect its ability to execute business plans and achieve operational success[107][109]. - The company has only manufactured a limited amount of WEC technology and has not produced it in significant quantities for commercial production[144]. - The company relies on third parties for the supply and manufacture of components, which could adversely affect its business if not managed properly[124]. Project Development and Partnerships - The company has a project pipeline totaling over 404.7 megawatts, including agreements for up to 5 megawatts in Gibraltar, 20 megawatts in Portugal, 77 megawatts in Turkey, 2 megawatts in Spain, and 25 megawatts in Mexico[232]. - The company has entered into various agreements, including Power Purchase Agreements and Concession Agreements, to advance its WEC technology projects[232]. - The company is exploring the addition of solar panels to its WEC technology, but success is uncertain due to geographic limitations[121]. - The company is engaged in a feasibility study with Shell to identify prime locations for commercial installations in the U.S., with a pilot project at the Port of Los Angeles expected to begin construction within six months after receiving licenses[236]. - A concession agreement in Portugal allows for the construction of a wave energy power plant with a capacity of up to 20 megawatts, starting with a one-megawatt station, with construction expected to begin within two years[238]. - The company signed an agreement in October 2024 for the sale of a wave energy generation unit to I-Ke International Ocean Energy Co., which will manufacture floaters locally[239]. - A non-binding memorandum of understanding was signed with Bharat Petroleum Corporation Limited in February 2025 to jointly develop wave energy projects in India, starting with a 100 KW pilot project[240]. External Factors - Political, economic, and military instability in Israel may adversely affect the company's operations and financial results[164]. - The ongoing multi-front conflict has not yet damaged facilities or supply chains, but potential disruptions in imports and exports could impact operations[168]. - Employee obligations for military service may cause operational delays, affecting business prospects and financial condition[169]. - Economic boycotts and sanctions against Israel could impair relationships with customers and delay or rescind current projects, adversely affecting operating results[170]. Research and Development - Ongoing research and development into combining solar panels with wave energy conversion (WEC) technology is being conducted, but advancements in other renewable technologies could impact the company's cost structure and profitability[119]. - Research and development expenses were $0.54 million and $0.51 million for the fiscal years ended December 31, 2024 and 2023, respectively, with expectations for future increases[139]. - The company is committed to building wave energy power stations that provide clean electricity access while minimizing environmental impact[241].