*New product offering*

Starting today, Otovo will add electric vehicle chargers to its product lineup
in Germany in response to the German government's 'Solar Power for Electric
Cars' subsidy program that debuts at midnight 26 September 2023. 

The program grants homeowners who purchase solar energy systems, battery
storage, and charging stations, up to 10.200 EUR in cash support. The program
has an initial size of EUR500 million, which is expected to be sufficient for
50-70.000 homeowners, depending on the average size of systems that will end up
being supported.

This development has prompted Otovo to quickly expand its current product lineup
to include electric vehicle chargers in Germany, ensuring they can cater to all
German customers looking to benefit from the new scheme. Chargers are now
accessible for all German customers buying through Otovo. 

The addition of an electric vehicle charger is expected to boost the ticket size
in Germany. The charger and installation add close to 2000 EUR per project as a
direct increase, and in addition most customers add more panels to their
purchase in order to cover the increased energy needs from an electric car.

- In the near future all homes and cars will run on clean, home made energy. The
Germans get this and have made a plan to accelerate the transition, at a time
where other governments seem to wavering or stalling, says Andreas Thorsheim,
Chief Executive Officer of Otovo ASA.

*New General Manager in Germany*

Artur Schreiber will join Otovo to be General Manager for Germany. Schreiber
will join Otovo on 1 November 2023. An experienced executive, Schreiber has
co-founded ZenAdmin (all-in-one IT management suite for SMBs) and was previously
CEO of FoodPanda in Germany and CEO of Delivery Hero in Austria, where he proved
his ability to rapidly scale up platform businesses. He started his career at
Boston Consulting Group (BCG) as management consultant.

- We are thrilled to welcome Artur to our team. He is exceptionally skilled at
the exact tasks that lie ahead of Otovo in a competitive, fast growing German
market. His extensive operational experience in other marketplaces will be
invaluable as we embark on a new chapter with more technologies and a bigger
role to play in people's homes, says Thorsheim. 

- Once again I am honored that individuals of Arturs caliber trust in us and
commit the next step of their career to our mission of putting solar panels on
every roof and batteries into every home. And chargers in every garage, I should
start adding today, remarks Thorsheim.


- I'm delighted to be joining such an amazing company, especially at such a
crucial juncture in the renewables market for Germany. Having observed Otovo's
journey from its inception, I'm truly impressed by how early the company
recognized the potential of solar and residential energy for consumers and its
unique ability to quickly adapt to consumers demands. Now, as we expand our
portfolio to include EV chargers in Germany, I'm enthusiastic about the
possibilities ahead. It's an exciting time for both Otovo and the energy sector
in Germany, and I'm eager to lead the charge in delivering solar panels,
batteries, and EV chargers to homes across the country. Great times ahead!,
Schreiber remarks. 

***

About Artur Schreiber: 
- General Manager Germany, Otovo, 2023- 
- Co-Founder, ZenAdmin, 2022-2023
- CEO Germany, FoodPanda, 2021-2022
- CEO Austria, Delivery Hero, 2018-2021
- Consultant, BCG, 2016-2018
- Co-Founder, Whitebox Concepts, 2012-2014
- Co-Founder, SLS Profishop GmbH & Co. KG, 2007-2012

***

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.