Reference is made to the previous announcements made by European Distributed Energy Assets Holding AS ("EDEA" or the "Company") regarding the merger with Otovo ASA ("Otovo") as announced on 14 April 2022, where Otovo is the acquiring company and EDEA is the transferring company. 

The creditor notice period for the merger expired on 14 June 2022. No creditors have objected to the merger. The merger is expected to be completed after close of trading on the Oslo Stock Exchange on Thursday 16 June 2022 (the "Effective Date"), which accordingly will be the last day of trading in the EDEA share on the NOTC list. Upon completion of the merger, EDEA will be dissolved by transferring EDEA's assets, rights and obligations in its entirety to Otovo.

As consideration, the shareholders in EDEA, other than Otovo, will receive 1.7 new shares in Otovo for each share owned in EDEA as of the expiry of the Effective Date, as such shareholder appears in the shareholder register with Euronext Securities Oslo (the "VPS") as at the expiry of two trading days thereafter (the "Record Date"), expected to be Monday 20 June 2022.

The consideration shares are expected to be delivered to the remuneration shareholders through VPS on or about Tuesday 21 June 2022. Fractions of shares will not be allotted, and the number of consideration shares delivered to each eligible EDEA shareholder will be rounded down to the nearest whole number.