Otovo will today implement a new management structure to address continued rapid
scaling, more countries and an increasingly rich offering of products, headlined
by batteries and subscriptions.

- Built for speed

Adjusting to a sustained rapid growth in the number of sales and installations,
and an expanding geographical coverage, Otovo today will adjust the management
structure of the company introducing a more concise geographical split in line
with recent market expansions as well as central functions with mandate,
capacity and talent required to successfully support and guide a growing
business.

- A company that more than doubles in size every year is bound to change. This
new structure builds Otovo for speed, allowing us to keep growing without losing
energy to internal issues, says Andreas Thorsheim, Founder and Chief Executive
Officer of Otovo.

Reporting to CEO will be:

* Chief Product Officer, Simen Jørgensen, responsible for engineering and
product
* Chief Business Officer, Pål Hvattum, responsible for new markets, global
markets, demand creation and market coordination
* The Chief Operations Officer role will be held by SVP Operations & Improvement
Anne Lene Holstad in interim. The mandate has responsibility for operations,
supply chain, a new shared service hub, and processes
* Chief Financial Officer, Petter Ulset, responsible for finance, accounting,
strategy and the subscription portfolio (formerly EDEA)
* Managing Director, Paulina Ackermann, responsible for the Poland, Austria,
Norway, and Sweden markets
* Managing Director, Inigo Amoribieta, responsible for the Spain, Portugal, and
UK & Ireland markets


* General Manager Italy, Fabio Stefanini
* General Manager Germany, Christian Rahn
* General Manager France, Jean Rosado

- It's a wonderful pleasure to promote two great General Managers to Managing
Directors. In addition we have made a bunch of great hires in the last few
months and we are in the process of hiring a high-caliber COO to fill out the
top team, hopefully in place by summer, adds Thorsheim.

Co-founder Andreas Bentzen leaves

Co-founder and Chief Technology Officer since 2016, Andreas Bentzen, will leave
the company to take on another exciting technology leadership role in the
industry. The CTO role in Otovo will be split between other functions in the
management. Bentzen's last day in Otovo will be 30 June.
- Andreas has been central in building Otovo. He is one of Europe's leading
solar and battery experts and his enduring persistence and powerful ideas
deserve infinite praise. Now, Otovo is about to climb to the global top ranks of
distributed energy companies, which is exactly what we dreamed of six years ago
when this story started, says Andreas Thorsheim.

Cecilie Weltz has decided to leave the company, effective on 30 April, as a
function of the merger of European Distributed Energy Assets and Otovo.

Daniel Münnich has decided to leave the company, effective on 30 June. The role
of General Manager Scandinavia will be discontinued and replaced with one GM for
each market: Norway and Sweden.

***

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.

Follow us on investor.otovo.com for reports, financial calendar, contact details
and more.