OTOVO ASA - Q2 2026 RESULTS: RAISING 2026 GUIDANCE

Oslo, 13 August 2026

Otovo ASA (Oslo Børs: OTOVO) today reported Q2 2026 revenue of USD 10.0 million
and raised its guidance to USD 105-115 million in revenue and USD 15-20 million
in Adjusted EBITDA, both on a Q4 26 run-rate basis.

CEO comment
"Q2 was a quarter where the model kept proving itself out. We grew our customer
base to approximately 55,000, up over 80% from the first quarter, and our
Endurance® platform stayed on track for full roll-out in the third quarter,
which has already identified more than USD 5 million in annualized cost
avoidance, up from the USD 4 million we flagged last quarter. Just as important,
we're breaking the traditional link between field growth and office growth:
Endurance® lets us scale technicians in the field without scaling the office
behind them, and that operating leverage is what's driving our earnings
capability higher each quarter. We expect further cost reductions throughout the
second half, and we exited the quarter with a higher revenue run-rate and a
leaner cost base than we entered it, a trajectory that continues through Q3 and
into Q4.

"Most importantly, that operating leverage and progress across the business
gives us the confidence to meaningfully raise our outlook. We now expect a Q4 26
annualized run-rate revenue of USD 105 to 115 million and Adjusted EBITDA of USD
15 to 20 million, up from our prior guidance of USD 80 to 90 million and USD 2.5
to 7.5 million, with our year-end customer target raised to approximately 90,000
from 60,000. This reflects more B2B business potential, additional cost savings
identified from Endurance®, and our accretive M&A pipeline, including the
announced Green Panel transaction and three additional near-term transactions
where we expect to sign LOIs in the coming weeks. Otovo 2.0 is scaling faster
than we expected, and we're just getting started."

Financial highlights:
o	USD 10.0m revenue, up 8% q/q, driven by strong growth in Field Services
revenue and the first full quarter of EnergyAid consolidation, partly offset by
lower Newbuild revenue amid the continued wind-down of the Legacy business
o	USD 2.3m adjusted group gross profit, up 28% q/q, driven by an improved
revenue mix with more Field Services
o	USD 6.8m adjusted OpEx, down 9% q/q, with lower CAC and cost reductions
offsetting the consolidation of EnergyAid
o	Adjusted EBITDA of USD -4.5m, improving USD 1.1m q/q and USD 1.5m y/y

Business highlights:
o	~55,000 customers as of 31 July 2026, up over 80% from Q1 26 and over 200%
year-to-date
o	Endurance® roll-out on track for full completion in Q3 26, with more than USD
5m in identified annualized cost avoidance to date (pre Green Panel), up from
USD 4m as of Q1 26
o	SST acquisition closed (~USD 14m revenue) for a maximum consideration of USD
2.1m
o	Green Panel acquisition LOI announced (~USD 13m revenue, ~USD 3m EBIT) for USD
11m

Outlook and guidance:
o	Exiting Q2 at a higher revenue run-rate and a lower OpEx run-rate than we
entered it - same trajectory continuing through Q3 and into Q4
o	Technician headcount expected to more than triple by year-end 2026 following
the Green Panel close
o	SST to be consolidated from Q3 26; Green Panel close expected during Q3 26
o	OpEx reductions from SaaS terminations, office closures and lower payroll
costs towards YE26
o	Q4 26 annualized run-rate revenue expected of USD 105-115m (prior guide: USD
80-90m)
o	Q4 26 annualized run-rate Adj. EBITDA expected of USD 15-20m (prior guide: USD
2.5-7.5m)
o	Year-end 2026 customers expected at ~90,000 (prior guide: ~60,000)
o	Updated guidance reflects more B2B business potential, additional cost savings
identified from Endurance®, and all acquisitions closed to date plus the
announced Green Panel transaction and three additional smaller M&A transactions
expected to be announced in the coming weeks
anel transaction and three additional smaller M&A transactions\
expected to be announced in the coming weeks\