OTOVO ASA – Mandatory Notification of Trade

05 Dec 2025 19:53 CET

Oslo, 5 December 2025
Reference is made to the stock exchange notice published by Otovo ASA (the
"Company" or "Otovo") on 6 November 2025 regarding a combination agreement
entered into with Onvis inc., whereby the Company will acquire up to all issued
and outstanding shares in Onvis inc. against newly issued shares in Otovo (the
"Consideration Shares"). Reference is further made to the stock exchange
announcement published by the Company regarding the extraordinary general
meeting held earlier today whereby all proposals on the agenda were adopted,
including issuance of the Consideration Shares.

Today, the board of directors of the Company resolved to appoint William Jackson
Berger as new CEO, Jennifer Santoscoy as new CFO, Eleanor Gilbane as General
Counsel, and Andreas Thorsheim as new CPO. Following the resolution, the
appointed individuals are considered as primary insiders of the Company. In
connection with the appointment as new CEO, William Jackson Berger was granted
the right to receive shares in the Company upon achieving certain milestones.

Previous Otovo Group executives, Ida Groth and Simen Fure Jørgensen, will take
on other roles in the Company and will no longer be primary insiders.

The resolution by the board of directors and the extraordinary general meeting's
approval of issuance of the Consideration Shares entails that all conditions for
the allocation of Consideration Shares to primary insiders in the Company and
close associates to such primary insiders have been fulfilled and thus
triggering a mandatory notification of trade obligation. For more information
about the allocation of Consideration Shares and the right to receive shares to
primary insiders and close associates see the attached mandatory notification of
trade.
This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

***

For further queries, please contact:
William J. (John) Berger, Chief Executive Officer
Email: john.berger@otovo.ai

Andreas Thorsheim, Chief Product Officer
Email: andreas.thorsheim@otovo.com

***

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, high quality and qualified 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:
Access the news on Oslo Bors NewsWeb site

661404_Otovo - PDMR notifications.pdf