Odyssey Marine Exploration (OMEX) investor relations material

Executive summary

• Entered into a merger agreement with American Ocean Minerals (AOM), expected to close late Q2 or early Q3 2026, subject to stockholder approval.

• The merger values the combined company at ~$1 billion and includes a $156 million PIPE investment and $75 million pre-public financing.

• Ongoing focus on subsea mineral exploration projects, including Phosagmex (Mexico), CIC (Cook Islands), OML (Cook Islands), and Lihir Gold (Papua New Guinea).

• Significant legal win: $37.1 million NAFTA arbitral award against Mexico, though collection is pending legal proceedings.

Financial highlights

• Revenue for Q1 2026 was $23,000, down 83% year-over-year due to expiration of a key services agreement.

• Net income attributable to the company was $347,000, compared to $2.2 million in Q1 2025.

• Operating expenses rose sharply to $6.4 million, up 172% year-over-year, mainly due to merger-related costs.

• Cash and cash equivalents at March 31, 2026 were $2.1 million, down from $3.5 million at year-end 2025.

• Working capital deficit of $10.6 million and total assets of $13.4 million as of March 31, 2026.

Outlook and guidance

• The merger with AOM is expected to alleviate going concern issues if completed.

• Business plan for 2026-2027 depends on new financings, monetization of mineral interests, and project execution.

• Ongoing regulatory and permitting milestones for key projects, especially Phosagmex and Cook Islands ventures.