The annual general meeting of Otovo AS ("Otovo" or the "Company") was held today
on 26 April 2022. All proposals on the agenda were adopted. Minutes of the
meeting are attached hereto and made available on the Company's investor website
(https://investor.otovo.com/.
  
The general meeting approved the conversion of the Company to a public limited
liability company (ASA), and the corresponding bonus issue in connection with
the merger. The conversion of the Company to a public limited liability company
(ASA) will have effect from the date on which the conversion is registered with
the Norwegian Register of Business Enterprises.

Furthermore, the general meeting approved the merger plan for the merger of
Otovo (as the acquiring company) and European Distributed Energy Assets Holding
AS (as the transferring company), and the corresponding share capital increase
in connection with the merger. Registration of completion of the merger with the
Norwegian Register of Business Enterprises is expected during June 2022. 

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, high quality and qualified 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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