Otovo ASA - Option allocation to primary insiders and employees

30 Dec 2025 16:30 CET

(Oslo, 30 December 2025) - Reference is made to the stock exchange notice on 5
December 2025 regarding the resolution by the extraordinary general meeting (the
“EGM”) of Otovo ASA, to grant Otovo’s Board of Directors a general authorisation
to increase the company’s share capital.

On 5 December 2025 the Board of Directors resolved to issue 11,455,000 new
options under the company’s share option programme.

Today, the Company has awarded these options to key employees.

The strike price of the new options was set at NOK 1.00, corresponding to the
price per share in the capital raise of 5 December 2025. The options vest over
three years, with one third each year, and first vesting on 1 January 2027.

In addition, the Board of Directors has decided to change the strike price of
the existing 8,799,001 options outstanding to NOK 1.00. All other terms remain
unchanged.

6,100,999 unvested options from previous programs have been returned from
employees as part of the restructuring of the company’s workforce in the fourth
quarter of 2025. Of these, the board of directors holds 1,688,890 options for
later use, while 4,412,109 have been cancelled.

In total the Company has 21,942,891 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.

28 key employees have been awarded options under this issuance, including
primary insider Andreas Egge Thorsheim, Chief Product Officer, who was awarded
4,000,000 new options in addition to the 3,450,000 options previously awarded.

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

***

About Otovo
Otovo is an AI-Native energy services company in Europe and the United States.
We combine real-time equipment monitoring, rapid repairs, dependable power
supply, and grid participation into a single, seamless service–delivering
maximum service at a minimal cost. Endurance, Otovo’s industry-leading AI
platform, continually monitors installed equipment in homes and businesses,
optimizes the entire service process from problem detection to resolution, and
coordinates repairs around the clock. “Your Power, Backed by Ours.” Otovo is
listed on the Euronext Oslo Stock Exchange under the ticker OTOVO. Visit us at
https://otovo.ai/.

More information:
Access the news on Oslo Bors NewsWeb site

662946_THORSHEIM - Skjema for melding om transaksjoner utført av personer med ledelsesansvar («primærinnsidere») og deres nærstående (KRT-1500).pdf