Odyssey Marine Exploration (OMEX) investor relations material

Macro environment and industry trends

• U.S. faces critical mineral supply vulnerabilities, with heavy reliance on imports for key minerals like titanium, manganese, and rare earths.

• Recent U.S. government actions, including a ministerial with 50 allied nations and Project Vault, signal a strong commitment to securing critical minerals.

• Mexico and the Cook Islands have entered enhanced agreements with the U.S. to align trade and regulatory policies for mineral supply.

• Public-private funding exceeding $12 billion is being mobilized to stabilize the mineral supply chain.

• Policy is shifting rapidly from intent to execution, with streamlined permitting and increased federal funding.

Company positioning and project portfolio

• Holds a diversified portfolio with projects in the U.S., Mexico, and the Cook Islands, targeting minerals like phosphate, polymetallic nodules, and heavy mineral sands.

• Long-standing relationships with governments and partners, including over a decade of collaboration with the Cook Islands and a major Mexican agri-food business.

• Proprietary Global Prospectivity System evaluates mineral opportunities across 150+ exclusive economic zones.

• Strategic alignment with U.S. critical mineral priorities positions the company for near-term opportunities.

• Early mover advantage with more than 15 years in seafloor minerals and three decades in ocean exploration.

Project valuations and financial outlook

• Mexico phosphate project (PHOSAGMEX): 35% ownership, internal NPV range $200M–$440M.

• Cook Islands OML project: 7% ownership, NPV range $165M–$329M; CIC project: 14% ownership, NPV range $330M–$670M.

• Combined value across these three projects estimated at $700M–$1.4B, with additional early-stage projects in the pipeline.

• Conservative valuation approach; early-stage U.S. BOEM project not yet valued.

• Multiple catalysts expected as projects advance, potentially driving positive equity revaluation.