Otovo ASA – Resolution to increase the share capital

16 Jan 2026 15:11 CET

Oslo, 16 January 2026: Reference is made to the stock exchange announcement made
by Otovo ASA (the "Company") on 5 December 2025, regarding the extraordinary
general meeting held on that day where it was announced that the general meeting
resolved to, inter alia, grant the board of directors an authorization to
increase the share capital to facilitate a reverse share split.

The board of directors has resolved to increase the share capital with a total
of NOK 0.04, by the issuance of 4 new shares, each with a nominal value of NOK
0.01.

Upon registration of the share capital increase, the Company's registered share
capital will be NOK 5,313,908.10, divided into 531,390,810 shares, each with a
nominal value of NOK 0.01.

***

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

Andreas Thorsheim, Chief Product Officer
Email: athornor@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:
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663781_Otovo ASA - Board minutes 19.12.2025 - reverse share split (signed).pdf