Otovo ASA - Option allocation to primary insiders and employees

24 Apr 2025 16:25 CEST

Reference is made to the stock exchange notice on 1 December 2023 regarding the
resolution by the extraordinary general meeting (the “EGM”) of Otovo ASA, to
grant Otovo’s Board of Directors an authorisation to increase the company’s
share capital in connection with the company’s share option programmes, that, as
set out in the notice of the EGM, were to be restructured.

On 31 March 2025 the Board of Directors resolved to issue 7,123,998 options
under the existing share option programme. Today, the Company has awarded these
options to key employees.

The strike price of the new options was set in line with previous policy at NOK
1.41, corresponding to the volume-weighted average price on the five days
following the close of the portfolio transaction on 28 March 2025. The options
vest over three years, with one third each year, and first vesting on 1 January
2026.

The following primary insiders have been allocated the following number of new
options:

Andreas Thorsheim (CEO): 450,000
Simen Fure Jørgensen (COO): 450,000
Petter Ulset (CFO): 600,000
Alexander Berson (CMO): 450,000
Fabio Stefanini (CRO): 450,000
Ida Groth (CPO): 450,000

The primary insider notification form pursuant to the requirements of the Market
Abuse Regulation are attached.

The remaining options will be allocated to key employees of the Otovo group.

In addition, the Board of Directors has decided to change the strike price of
the existing 7,222,332 options outstanding to NOK 1.41 and prolong the vesting
period, to match the structure for the new options issued. All other terms
remain unchanged.

In total the Company has 14,346,330 options outstanding including the issuance
of new options. Adjustments to the total number of outstanding options will be
reported quarterly in the company’s financial reports.

This information is subject to the disclosure requirements pursuant to the
Market Abuse Regulation (EU) 596/2014 article 19 number 3 and section 5-12 of
the Norwegian Securities Trading Act.

***

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

***

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the
roof, and batteries in the home. Otovo is a marketplace that organises hundreds
of local, vetted, high quality energy installers. The company uses its
proprietary technology to analyse the potential of any home and finds the best
price and installer for customers based on an automatic bidding process between
available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details
and more.

More information:
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