OPT completes Project Overmatch milestone; delivers WAM-Vs to Latin America, secures follow-on order

Ocean Power Technologies, Inc.

Second set of Project Overmatch exercises completed for NIWC Pacific; WAM-Vs deployed; revenue recognized.
Delivered WAM-V 16 and WAM-V 22 to Latin American survey customers; revenue recognized on integrated systems.
Follow-on order for WAM-V 8 secured from a Latin American customer, driving growth in region.
Stock purchase agreement amendment extends expiration to Dec 31, 2024 or when shares fully purchased.

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