Reference is made to the stock exchange notice by Otovo ASA (the "Company") on 5
December 2023 regarding the issuance of the new private placement shares of
130,434,782 (the "Private Placement"). 
 
On 5 December 2023, funds and sub-advised accounts under the management of
Encompass held 7,759,763 shares in the Company, which prior to the completion of
the Private Placement, was equal to approximately 5.22% of the total share
capital and voting rights in the Company. Following the completion of the
Private Placement, in which Encompass did not participate, Encompass' holdings
fell below the 5% reporting threshold. Following the issuance of the new private
placement shares, Encompass holds 2.77% of the total share capital and voting
rights as of 5 December 2023. 
 
This notification is made public pursuant to section 4-2 of the Norwegian
Securities Trading Act.