Odyssey Marine Exploration Reports wins NAFTA arbitration Page 1

Odyssey Marine Exploration, Inc. (NASDAQ: OMEX), a pioneering marine exploration company engaged in the discovery, development and extraction of critical minerals that provide solutions to global challenges, announces an award in its arbitration proceedings with the United Mexican States under Chapter 11 of the North American Free Trade Agreement (NAFTA).

Odyssey Marine Exploration (Odyssey) has received notice of the award from the International Centre for Settlement of Investment Disputes (ICSID) in the claims brought by Odyssey and its subsidiary Exploraciones Oceánicas S. de RL de CV (ExO) against Mexico. The award requires Mexico to pay US$37.1 million for breach of its obligations under the NAFTA Agreement, plus interest at the rate on one-year Mexican government bonds, compounded annually from October 12, 2018 until the award is paid in full, plus arbitrator fees and ICSID administrative costs. The amounts awarded are net of Mexican taxes, and Mexico may not impose taxes on the award. Odyssey expects that most or all of the proceeds of the award will be used to meet its litigation funding obligations.