Otovo's wholly-owned subsidiary European Distributed Energy Assets Midco AS
("EDEA") has received credit approval from DNB Bank ASA ("DNB"), Sparebank1
SR-Bank ASA ("SR-Bank") and Export Finance Norway ("Eksfin") for an extension of
its credit facility from EUR 50m to EUR 100m.

- We are grateful for the continued support of DNB and SR-Bank. The expanded
credit facility with its increased leverage will enable thousands of new
home-owners across Europe to go solar and benefit from the record low solar
prices we are now experiencing, says Andreas Thorsheim, CEO and founder of
Otovo.

The facility will allow Otovo's subscription portfolio to grow to 12.500 homes
powered by solar energy.

The banks have agreed to increase the leverage for exposures in Austria,
Switzerland, the Netherlands and Belgium from 60% to 75% as measured towards
ticket size. Depending on the development in the country mix of the subscription
portfolio going forward, the weighted average debt ratio of EDEA is expected to
increase between 2 and 4 percentage points. Other terms remain unchanged.

Eksfin has agreed and credit approved to guarantee EUR 37.5m of the EUR 100m
facility.

- Otovo has been accelerating its international presence over the last few
years, notably by entering six new European countries during the last twelve
months. With Eksfin's contribution to this ongoing Norwegian green growth story
we get another strong partner to help shoulder the financing of an energy
transition that is much needed, says Thorsheim.

- Eksfin is very pleased to support Otovo and its subsidiary EDEA through
participation in the recently increased credit facility. Financing of
distributed solar PV facilities fits perfectly with Eksfins goal to accelerate
the Green Transition, says Eksfin managing director, Ms. Tone Lunde Bakker.

The increase of the debt facility is subject to customary documentation
requirements expected to be in place shortly.

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About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the
roof. 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.

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