The rehabilitation works follow storm-related damage to the breakwater and are being carried out by APDL as part of its responsibility for the maintenance and reinforcement of the port infrastructure.

The commencement of the works represents an important development for Eco Wave Power’s planned 1 MW wave energy installation.

Eco Wave Power has received updates from APDL confirming that the rehabilitation works are underway and progressing at the project site, including works affecting the coastal infrastructure designated for the installation of Eco Wave Power’s wave energy technology.

As the rehabilitation progresses, Eco Wave Power Founder and Chief Executive Officer Inna Braverman will travel to Porto in mid-August 2026 for an official meeting with APDL.

The meeting is expected to focus on establishing the anticipated completion timeline for the breakwater rehabilitation works and coordinating the point at which Eco Wave Power will be able to access the relevant infrastructure and proceed with the installation phase of its 1 MW wave energy project.

In addition, APDL has agreed to provide Eco Wave Power with a formal letter of support in connection with the Company’s request to the relevant Portuguese authorities for an extension of the grid-connection deadline applicable to the first 1 MW phase of the project. The requested extension is intended to align the project’s regulatory timetable with the completion of APDL’s infrastructure rehabilitation works and the subsequent installation of Eco Wave Power’s equipment.

During her visit to Portugal, Braverman is also expected to hold meetings with a number of Portuguese subcontractors anticipated to play significant roles in the execution of the project.

The planned meetings will cover key execution areas including civil engineering, steel works and fabrication, hydraulic systems, electrical works and grid connection, as well as additional local engineering and construction activities required for the implementation of the 1 MW installation.

The engagement of local Portuguese contractors forms part of Eco Wave Power’s strategy to establish a strong local execution infrastructure for the project while utilizing the Company’s proprietary wave energy technology, engineering expertise, and system design.

“Seeing the rehabilitation works officially commence at the Barra do Douro breakwater is an important step forward for our project in Portugal,” said Inna Braverman, Founder and CEO of Eco Wave Power.

“Our first 1 MW installation in Porto represents a major milestone for Eco Wave Power as we advance from pilot-scale projects toward megawatt-scale deployment. APDL’s commencement of the rehabilitation works brings us closer to the point at which our installation activities can begin.”

“I look forward to meeting with APDL in Porto to establish greater visibility regarding the completion of the works and coordinate the timeline for Eco Wave Power’s entry to the site. We also greatly appreciate APDL’s agreement to support our request for an extension of the grid-connection timeline, recognizing that the timing of our installation is dependent on the completion of the breakwater works.”

“At the same time, we are moving forward with the local execution ecosystem required for the project. During my visit, I expect to meet with Portuguese subcontractors across civil engineering, steel works, hydraulics, electrical infrastructure, and grid connection. These are important steps as we prepare for the execution phase of our first megawatt-scale installation.”

Portugal represents one of Eco Wave Power’s key European markets. The Company’s agreement with APDL provides for the potential development of up to 20 MW of wave energy capacity, with the planned 1 MW installation serving as the first phase.

Eco Wave Power’s technology is designed to be installed on existing man-made coastal infrastructure, such as breakwaters, jetties, and piers. The Company believes this approach can simplify installation and maintenance while avoiding the need for offshore seabed deployment.

The Porto project is expected to provide Eco Wave Power with important execution and operational experience at megawatt scale and support the Company’s broader strategy of developing commercial-scale wave energy projects in Portugal and other international markets.

The Company expects to provide further updates following the August meetings with APDL and the Portuguese project execution partners.