OTOVO: August 2026 Operational Update

Service Business Operating Update
Preliminary and unaudited
Overview. Otovo ASA ("Otovo") is providing preliminary, unaudited August 2026
service metrics as the first in a series of monthly investor updates. Beginning
with August, Otovo will publish three service-business metrics monthly for the
foreseeable future: completed service work orders, average revenue per completed
service work order and estimated gross margin per completed service work order.

August service metrics
Metric	August 2026
Estimated completed service work orders	2,766
Estimated average revenue per completed service work order	$656
Estimated gross margin per completed service work order	46%

Revenue from completed service work orders represents a large portion of Otovo's
blended revenue; accordingly, the estimated gross margin per completed service
work order is expected to be close to the blended gross margin across service
work, memberships and projects.

Estimated daily break-even level
Using the August average revenue per work order and a conservative view of
membership and project margins, management estimates that approximately 160
completed service work orders per business day would cover Otovo's recurring
company cost base, including corporate overhead. Otovo refers to this estimate
as its core company cash-flow break-even level. As the average service revenue
per work order increases or decreases, the number of work orders required to
reach this break-even level would decrease or increase, respectively.
The estimate excludes dual listing costs, acquisition-related legal costs,
restructuring costs such as severance, and non-cash expenses such as bad debt.
It is a non-IFRS management measure and should not be interpreted as IFRS net
income or cash flow from operating activities as presented under IFRS.
Daily completions and average service work order revenue reached the estimated
break-even level late in August, and management expects such performance to
improve into September given additional technician capacity and continued growth
in work order intake.

Lower costs and growing demand
Cost reductions implemented during August are expected to impact September and
later periods. Additional Endurance-enabled cost reductions are planned for
September and October. All cost reductions are expected to further improve the
company's financial performance. The 160-work-order threshold was estimated
based on Otovo's August cost structure and therefore does not assume savings
from measures or efficiencies resulting from expanded Endurance capabilities
executed during August or expected to be implemented in September and beyond.
Service work-order intake exceeded completions during August, increasing Otovo's
backlog and technician overtime. Management expects technician hiring to
increase completed work orders, reduce technician overtime and spread fixed
costs across greater volume, thereby lowering the fixed cost per work order and
improving the estimated 46% gross margin per completed service work order.
The August figures exclude any contribution from Green Panel or the other
announced acquisition targets and exclude any unrealized Endurance-related
efficiencies at those businesses.
All figures are preliminary and unaudited and remain subject to Otovo's normal
financial-close procedures. The $656 amount is average service revenue per
completed service work order during August.


Investor Relations Contacts
Rodney McMahan
Head of Investor Relations
rodney.mcmahan@otovo.com

Forward-Looking Statements 
This report contains forward-looking statements within the meaning of applicable
securities laws. Actual results may differ because of demand, cancellations,
technician availability, pricing, costs, project and membership performance,
transaction closings, integration and other risks described in Otovo's public
disclosures. Forward-looking statements include, but are not limited to,
statements regarding the company's expectations, plans, objectives, strategy,
future operations, business performance, financial condition, prospects, growth
opportunities, market position, anticipated benefits of transactions or
initiatives, and other statements that are not historical facts. Forward-looking
statements may be identified by words such as "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan," "potential,"
"predict," "project," "should," "target," "will," "would," and similar
expressions. These forward-looking statements are based on current expectations,
assumptions, estimates, and projections and are subject to risks, uncertainties,
and other factors, many of which are beyond the company's control, that could
cause actual results, performance, or achievements to differ materially from
those expressed or implied by such forward-looking statements. Such risks and
uncertainties include, among others, market conditions, regulatory developments,
competitive pressures, customer demand, supply chain constraints, macroeconomic
conditions, execution risks, and other risks described in the Company's public
filings or other disclosures, if applicable. The company undertakes no
obligation to update or revise any forward-looking statements contained in this
report, whether as a result of new information, future events, or otherwise,
except as required by applicable law. Readers should not place undue reliance on
forward-looking statements, which speak only as of the date of this press
release.

except as required by applicable law. Readers should not place undue reliance on\
forward-looking statements\, which speak only as of the date of this press\
release.\