Reference is made to the stock exchange notice by Otovo ASA (the "Company") on 9
November 2023 regarding the conditional completion of a private placement of
130,434,782 new shares (the "Private Placement") and the resolution by the
Company's extraordinary general meeting on 1 December 2023 to issue the new
shares in the Private Placement.

The share capital increase pertaining to the issuance of new shares in the
Private Placement has today been registered with the Norwegian Register of
Business Enterprises (Nw. Foretaksregisteret). 

The Company's new share capital is NOK 2,792,245.80, divided into 279,224,580
shares, each with a nominal value of NOK 0.01.

Andmar Operations AS owns 8,664,610 shares in the Company, which prior to
completion of the Private Placement, was equal to approx. 5.82% of the total
share capital and votes in the Company. Following completion of the Private
Placement, in which Andmar Operations AS did not participate, Andmar Operations
AS has passively crossed below the 5% threshold. Andmar Operations AS has a
holding corresponding to 3.10% of the total share capital and votes following
registration of the share capital increase pertaining to the Private Placement.

These disclosures are made pursuant to sections 5-12 and 4-2 (respectively) of
the Norwegian Securities Trading Act.

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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, vetted, high quality 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. 

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and more.