OpenType fonts keep their PostScript outlines and typographic features, such as ligatures and alternates, when wrapped as WOFF2. WOFF2 is the smallest font format browsers load, so it is the one to serve from a website. Confirm that the font's licence allows web embedding.
The outlines and tables of the font are copied unchanged and only the wrapper around them changes, so the letterforms, hinting and layout features are exactly the same. WOFF2 is handled by a WebAssembly module that downloads the first time you compress to WOFF2 and is cached; WOFF2 reorganises the outline tables, so converting back gives the same glyphs but not an identical file. A file that is not a TrueType, OpenType, WOFF, WOFF2 or collection font is refused.