OTOVO: Otovo Completes Acquisition of PV Hawaii, Extending its U.S. Service Platform

OSLO, NORWAY, October 19, 2026 - Otovo ASA (Euronext Oslo Børs: OTOVO; "Otovo"),
a leading provider of behind-the-meter energy services for homes and businesses,
today announced the completion of its acquisition of PV Hawaii, LLC ("PV
Hawaii"), an Oahu-based provider of solar operations and maintenance services.
The total purchase price is USD 750,000, whereof USD 250,000 was paid in cash at
closing, and the balance (USD 500,000) in the form of a promissory note payable
in two equal installments during Q4 2026. The purchase price also include an
earn-out element payable over three years in part in cash and in part in shares
in Otovo. 

With the close, Hawaii becomes the 17th U.S. state in Otovo's footprint.

Highlights
-	Extends Otovo's behind-the-meter service platform to Hawaii 
-	Adds a licensed field crew in Hawaii with OSHA training and a customer base
built on referrals across Oahu, a market Otovo has not served before
-	Otovo will bring its EnduranceTM AI platform to PV Hawaii's operations, with
integration expected to enable automated intake, dispatch, scheduling and supply
chain coordination and faster service for customers

"Closing the acquisition of PV Hawaii demonstrates how we are executing on our
strategic growth plan to close out the year, which is driving strong revenue and
Adjusted EBITDA growth expected to be reflected in our financial statements in
the fourth quarter of this year," said William J. (John) Berger, CEO of Otovo.
"We now have a licensed crew and a referral-built customer base in Hawaii, and
we expect the other acquisitions we have announced to close as well. Each one we
bring onto Endurance adds scale to the platform we are building." 

PV Hawaii, founded in 2016 and based in Ewa Beach, Oahu, provides solar repair,
warranty and inspection services and panel cleaning for residential and
commercial customers, and is certified across ten major equipment brands. 

Otovo expects the other transactions it has announced to close by year end as it
continues to build its behind-the-meter services platform.

About Otovo
Otovo is an AI-Native behind-the-meter energy services company serving homes and
businesses across 14 European markets and the United States. Otovo combines
equipment monitoring, rapid repairs, dependable power supply and grid
participation in one service. EnduranceTM, Otovo's AI platform, monitors
installed equipment, optimizes service from problem detection to resolution and
coordinates repairs around the clock. "Your Power, Backed by OursTM." Otovo is
listed on Euronext Oslo Børs under the ticker OTOVO. Visit us at www.otovo.com.

Disclaimer
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Words such as "expect," "will" and variations of such words and similar
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