Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that as part of the Company’s ongoing commitment to connecting with the investor community, it will participate in the third installment of the "Fireside Chats" series hosted by Water Tower Research (WTR) at 2:00 p.m. ET on January 26, 2023. The chat will be followed by a brief question-and-answer session.

During this installment, Dr. Philipp Stratmann, Chief Executive Officer for OPT, will discuss the Company's defense and security applications including recent demonstrations for autonomous systems to support broader ocean “drones” efforts, the Company's focus on providing quiet and zero emission systems to safeguard ocean resources, their efforts in monitoring illegal fishing activities, and their approach to safeguarding of port and terminal facilities.

“We are excited to continue our 'Fireside Chats' series and provide our investors with an in-depth look at our Company's efforts to support ocean sustainability and safety," said Dr. Philipp Stratmann, CEO of Ocean Power Technologies.

The "Fireside Chats" series is an opportunity for the company to connect with the investment community and provide them with the latest updates on the company's progress and future plans.

To register for this listen-only event, please visit:Fireside Chat Registration Link

The replay of the presentation will be available under "Events and Presentations" in the Investors section of the OPT website at investors.oceanpowertechnologies.com.

ABOUT OCEAN POWER TECHNOLOGIES:

OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services through our wholly owned subsidiary Marine Advanced Robotics. We are headquartered in Monroe Township, New Jersey, and have offices in Houston, Texas, and Richmond, California. To learn more, visit www.OceanPowerTechnologies.com.

CONTACT INFORMATION Investors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com

Follow us on social media:LinkedIn: OPT Company Profile

Twitter: @OceanPowerTech

YouTube: OPT Channel Home

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