The floaters, which form a key component of Eco Wave Power's proprietary wave energy conversion technology, will be manufactured locally by All-Ways Metal and are scheduled for delivery within 70 days.

Los Angeles, California - April 23, 2025 - Eco Wave Power Global AB (publ) (Nasdaq: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, is pleased to announce the signing of a manufacturing agreement with All-Ways Metal, Inc., a woman-owned business based in California, for the production of floaters for its innovative wave energy project in the Port of Los Angeles. This marks a major milestone in the development of Eco Wave Power's first-ever U.S. proof-of-concept installation.

The floaters, which form a key component of Eco Wave Power's proprietary wave energy conversion technology, will be manufactured locally by All-Ways Metal and are scheduled for delivery within 70 days. Once completed, the floaters will be installed and connected to the Municipal Pier One at the Port of Los Angeles, signifying the official launch of the Company's groundbreaking U.S. project.

This agreement follows Eco Wave Power's receipt of a final licensing approval from the Port of Los Angeles, which was granted earlier this month, and builds on the federal permit received from the U.S. Army Corps of Engineers in November 2024. These key regulatory milestones clear the way for full implementation of the Company's first U.S.-based wave energy system.

Co-developed with Shell Marine Renewable Energy (Shell MRE), the project represents a powerful convergence of public and private investment in next-generation renewable energy infrastructure. Once operational, the pilot installation will serve as a scalable model for future wave energy deployments along the U.S. coastline and globally.

"As we expand into the United States, we are proud to collaborate with All-Ways Metal, a highly respected and experienced woman-owned fabrication business," said Inna Braverman, Founder and CEO of Eco Wave Power. "By producing the floaters locally, we are not only accelerating project timelines but also supporting local job creation and contributing to the emergence of a new sustainable energy industry in the U.S."

"We are honored to partner with Eco Wave Power on this forward-thinking project," said Rachelle Pickens, CEO of All-Ways Metal, Inc. "For over four decades, we've built a reputation for delivering precision, reliability, and innovation—and we are excited to bring that expertise to the clean energy sector. Manufacturing the floaters right here in California aligns with our commitment to supporting local industry while contributing to a greener future."

This first U.S. installation serves as a strategic demonstration project, positioning Eco Wave Power to scale its wave energy technology across North America. Executed under a Pilot Test Agreement with Shell Marine Renewable Energy, the initiative benefits from the support of a globally recognized energy leader. In addition, by manufacturing the floaters locally through a woman-owned, California-based firm, the Company is shortening lead times, and advancing ESG goals through a domestic supply chain. With all necessary regulatory approvals secured—including permits from the Port of Los Angeles and the U.S. Army Corps of Engineers—the project is set for rapid implementation.

About All-Ways Metal, Inc.
Founded in 1983, All-Ways Metal, Inc. is a woman-owned business offering custom sheet metal fabrication and CNC machining to a wide range of industries, including aerospace, medical, transportation, and entertainment. Located in a 30,000 square foot facility in California, the company is known for its expertise, efficiency, and commitment to quality. All-Ways Metal continues to invest in state-of-the-art technology to meet and exceed customer expectations.

About Eco Wave Power Global AB (publ)
Eco Wave Power is a leading onshore wave energy company revolutionizing clean energy with its patented, smart, and cost-efficient technology that converts ocean and sea waves into sustainable electricity.

Dedicated to combating climate change, Eco Wave Power operates the first grid-connected wave energy system in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as a "Pioneering Technology.

"Expanding globally, Eco Wave Power is preparing to install projects at the Port of Los Angeles, Taiwan, and Portugal, adding to its impressive project pipeline totaling 404.7 MW. The company has received support from prestigious institutions such as the European Union Regional Development Fund, Innovate UK, and the Horizon 2020 program, and was honored with the United Nations' Global Climate Action Award.

Eco Wave Power's American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market. Learn more at www.ecowavepower.com.