OPTT extends NOL protective poison pill through June 2029; preferred shares increased to 700,000

Ocean Power Technologies, Inc.

Board amended Section 382 Tax Benefits Preservation Plan, extending expiration from June 29, 2026 to June 29, 2029.
Series A Preferred designated shares increased from 100,000 to 700,000 to support the plan.
Plan continues to deter any person from acquiring 4.99% or more of OPTT common stock without board approval.
No existing 4.99% holders identified as of the filing date.
Company intends to seek stockholder ratification of the amendment at the 2026 annual meeting.

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