Otovo is today making changes to its executive management team

- Otovo is organizing to enable installations of solar, batteries, chargers and
heat pumps across Europe in an easy and ever more affordable way. As the company
matures to a pan-European home energy company with the heart of its operations
in Madrid, we adapt the management structure to better create value for our
customers and shareholders, says Andreas Thorsheim, Chief Executive Officer.

Otovo is creating three new senior management roles that consolidate the
functions of sales, operations and field operations across the group. At the
same time the four regional Managing Directorships are discontinued, leading to
a leaner and sharper organization. After completing a phase of geographic
expansion, this reorganization underlines Otovo's focus shifting to sales and
operational excellence, led by strong functional leaders. 

The General Managers responsible for Otovo's 13 markets will report to the Chief
Revenue Officer, while the European Operations Center in Madrid will fall under
the Chief Operating Officer's remit. The Chief Field Operations Officer will
enhance the interactions between our digital platform and the physical presence
on the ground in key markets. These changes are in line with the cost reduction
program implemented in the last six months, and continues the transformation of
Otovo towards a platform that can address customers anywhere in Europe from a
joint and flexible, low-cost operational base.

- The new Otovo management team embodies our renewed focus on speed of execution
and cost efficiency across Europe, says Thorsheim.

The new management structure will be as follows from today, 12 June:
* Chief Executive Officer, Andreas Thorsheim
* Chief Financial Officer, Petter Ulset
* Chief Product Officer, Simen F. Jørgensen
* Chief Marketing Officer, Sasha Berson
* Chief Field Operations Officer, Paulina Ackermann (new)
* Chief Operating Officer, Jean Rosado (new)
* Chief Revenue Officer, Fabio Stefanini (new)

As of today, Inigo Amoribieta will leave Otovo. Amoribieta has been the General
Manager for Spain, and since 2022 Managing Director for Spain, UK and Portugal. 
- I am thankful to Inigo for his momentous contribution to making Otovo the
leading European marketplace for solar energy. He led the way in establishing
Otovo in markets outside Scandinavia and has been a cornerstone in building our
institutional strength in Madrid, says Thorsheim.

***

About the management group
Paulina Ackerman, Chief Field Operations Officer, started as General Manager of
Poland for Otovo in October 2020, and has been the Managing Director for
Northern Europe since April of 2022. Before joining Otovo, Ackermann was a
General Manager at Lime, and Head of Customer Strategy & Operations at Uber.  

Jean Rosado, Chief Operating Officer, joined Otovo in May of 2021 to lead the
French market from Otovo's Paris office. He has overseen the integration of In
Sun We Trust, the French entity acquired by Otovo in 2019 and since October of
2022 he has been the Managing Director for France, Belgium and the Netherlands.
Prior to Otovo, Rosado was an Aircraft & Services Sales Director at ATR in
Miami, a strategy consultant at Bain & Company, and most recently Deputy General
Manager at the European bus platform Flixbus. 

Fabio Stefanini, Chief Revenue Officer, started as General Manager of Italy in
February 2021, before he assumed the role of Managing Director for Italy,
Germany, Austria and Switzerland in September 2022.  Stefanini brings experience
from Saipem, ENI, Bain & Company, and a 4.5-year tenure with Amazon in Milan,
followed by a General Manager role at Uber.

***

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 organizes hundreds of local,
high quality and qualified energy installers. The company uses its proprietary
technology to analyze the potential of any home and finds the best price and
installer for customers based on an automatic bidding process between available
installers.