Otovo ASA: Definitive Agreement and Closing of EnergyAid Transaction

02 Apr 2026 00:25 CEST

Oslo, 2 April 2026 - Reference is made to the announcement by Otovo ASA (the
"Company" or "Otovo") on 2 March 2026 regarding the letter of intent entered
into between Otovo and EnergyAid Inc. ("EnergyAid"), a leading provider of
exceptional residential solar service and repair solutions in California,
Arizona, and Nevada.
On 1 April 2026 Otovo and EnergyAid entered into a share purchase agreement (the
"SPA"), whereby Otovo has acquired 100% of the issued and outstanding shares in
EnergyAid. The purchase price is USD 11,500,000, subject to customary
adjustments for, inter alia, working capital and net debt pursuant to the SPA,
and will be settled through a combination of cash and new shares in Otovo.
Otovo will as a result issue a total of 7,413,019 shares as consideration to the
sellers in EnergyAid (the "Consideration Shares"). A total of 6,671,723
Consideration Shares have been issued by the Board of Otovo today, and the
remaining 741,296 Consideration Shares will be deferred and issued following
expiry of a 12 month' indemnification period. The Consideration Shares are
issued at a subscription price of NOK 11,7923 which represents the 30 day' VWAP
of the Company's shares per 30 March 2026. The Consideration Shares will be
issued on a separate ISIN pending approval and publication of the Prospectus
referred to in the announcement on 2 March 2026. The Consideration Shares will
be subject to a 12 month' lock-up period, where 20% will be released from
lock-up after 180 calendar days.
Otovo will register the new share capital increase with the Norwegian Register
of Business Enterprises ("NRBE") and issue a separate announcement when the
registration of the share capital increase has been completed.
Following the registration with the NRBE of the Consideration Shares issued at
closing, Otovo's share capital will be NOK 7,379,580.40 comprised by 73,795,804
shares, each with a nominal value of NOK 0,10.
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DISCLOSURE REQUIREMENT
This information is subject to the disclosure requirements in Section 5-12 of
the Norwegian Securities Trading Act.
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CONTACT INFORMATION
For further information, please contact:
William J. (John) Berger, Chief Executive Officer Email: john.berger@otovo.com
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ABOUT OTOVO
Otovo is an AI-Native home and business 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/.

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