Otovo's second quarter results for 2025 are released today. Here are the highlights:

1. Revenue growth: Revenue rose 22% to NOK 152m from Q1. A NOK 221m backlog and 23.9% gross margin point to continued momentum and solid unit economics.
2. Continued sales momentum: Customer base grew 9% to 1,535, with order intake up 15% to NOK 178m on improved sales execution and a weakened NOK from Q1.
3. Operational leverage: Personnel costs fell 39% YoY reflecting operational efficiency. Further volume growth not expected to drive cost.
4. Market outlook: Residential European market is stabilizing, outlook is positive in medium term, driven by battery demand.

Otovo's Q2 2025 results: Growth in revenues and continued growth in sale

Q2 2025 Report and Presentation

Otovo’s first quarter results for 2025 are released today. Here are the highlights:

1. **Return to sales growth**: Order intake of NOK 154M in quarter and unit sales up 34% from Q4 2024.
2. **Portfolio sales closed**: Portfolio sale closed freeing up cash of NOK 150 million, gross margin from leasing (B2B2C) of 32% in quarter.
3. **Cost structure reset**: Cost improvements evident in marketing (down 39%) and personnel cost (down 41%). Strong efficiency gains and confidence in ability to improve cost further.
4. **Consumer outlook improving**: Shorter payback times on solar and batteries, while resilience and backup demand likely to get boosted in quarters ahead.

Please find attached the quarterly report. The presentation will be held by Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 May 6th.

Otovo's Q1 2025 results: Resilience and growth

Q1 2025 Report and Presentation

Today, Otovo ASA has published its Annual Report for 2024. The report also includes Otovo’s Sustainability Statements and Corporate Governance Report for 2024.

Annual report 2024

Otovo’s forth quarter results for 2024 are released today. Here are the highlights:

1. **Cost cuts complete**
Cut 111 FTEs in Q4, bringing total headcount reduction to 208 since Q1 24, and reduced Opex below NOKm 100.

2. **Portfolio sale complete**
European subscription portfolio sold, freeing up NOKm 155.

3. **Solid for 2025-26**
Lower cost, strengthened liquidity and improved cash flow structure.

4. **Battery sales in progress**
Batteries included in 65% of customer contracts, a new record high and a new growth vector.

Please find attached the quarterly report. The presentation will be held by
Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 February 24th.

Otovo's Q4 2024 Results: A new Otovo emerges

Q4 2024 Report and Presentation

Otovo’s third quarter results for 2024 are released today. Here are the highlights:

1. **Portfolio sale term sheet signed**
- Inverts cash flow dynamics from outflows (investments) to inflows (forward flow sales)
- Releases cash
- Creates one-off gain in Q1

2. **Cost programme on track**
- Reduces personnel cost and opex by NOK 200-225m annually
- Takes down cash burn, aligns with profitability at low sales levels
- Simplifies company around the Madrid hub

3. **Customer acquisition in transition**
- Improved accuracy and cost in performance marketing
- Expanded partnerships, notably in the mobility direction
- Scaling up new sales methodology allowing more conversion per incoming interest

4. **Markets remain challenging, commercial momentum affected by reorganization**
- Otovo lost output and efficiency in Q3 as layoffs and restructuring hit sales and throughput metrics
- Market outlook in Europe is challenging for the rest of the year, Otovo believes in uptick in sales as consumer macro improves.
- Hardware and leasing shares expected up in coming quarters

**Main takeaways**
- Portfolio sale frees up cash and flips cash flow from investment to inflow
- Cost structure reset and adjusted for 2025
- Customer acquisition improvements improve odds in a market that remains challenging
- Short term fluctuations to be expected while medium term position is vastly improved

Please find attached the quarterly report. The presentation will be held by Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 October 24th.

Q3 2024 Report and Presentation

Otovo’s second quarter results for 2024 are released today. Here are the highlights:

1. **Continued market headwinds**
  - Consumer macroeconomic conditions remain challenging
  - Outlook in Spain and Nordics remains weak - other markets stable or improving
  - Recent rise in gas prices and subsidy changes provide hope for 2H 2024
2. **Revenues increased sequentially**
  - Installed units up to 1,827 driving revenues to NOK 169m
  - Revenues generated up to NOK 240m
3. **Multi-hardware strategy paying off**
  - Half of new customers opting for a battery and corresponding strong development for heat pumps and EV chargers
  - Gross Margin expanded to 22% and Gross Margin Generated to 28% demonstrating pricing power of platform
4. **Initiating further opex reductions**
  - Current cost program will deliver ~90 million in savings in Q3 on an annual basis
  - Ready to initiate additional efficiency measures to align cost with activity levels
5. **Expecting volume growth in 2H**
  - Expect to see growth in sales in second half versus first half
  - Disciplined marketing investments to continue to improve ROI
  - Expecting installation speed on par with previous quarters
6. **Continental Europe portfolio sales process ongoing**
  - In concrete discussions with several parties

Please find attached the quarterly report. The presentation will be held by Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 August 20th.

Q2 2024 Report and Presentation

Otovo’s first quarter results for 2024 are released today. Here are the highlights:

1. **Residential solar market has been slower than expected in first months of 2024**
   - Consumer macroeconomic conditions remain challenging
   - Electricity prices including taxes down from highs, but above traditional averages
2. **All-time-high margins**
   - Gross Margin expanded to 21% and Gross Margin Generated to 28% demonstrating pricing power of platform
3. **Cost cut program expanded**
   - Headcount reductions are on on track and revised upward
   - Cost improvements are on track for Q3 target and revised upward
4. **Italy, France and Austria with the most favourable outlook in the next few quarters**
   - Continued moderate growth in sold units expected in next quarter
   - Expecting installation speed on par with or above previous quarters
5. **After successful sale of Scandinavian assets, now moving on to Continental euro portfolio**
   - Process initiated and expected to take 1-2 quarters
   - Recent transactions in Europe signal investor interest

Please find attached the quarterly report. The presentation will be held by
Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 May 2nd.

Otovo's Q1 2024 results: Sunrise on the horizon

Q1 2024 Report and Presentation

We just published our annual report for 2023. You can read the full [report here](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/Otovo+-+2023+Annual+Report+-+Final.pdf).

Annual report 2023

Otovo’s forth quarter results for 2023 are released today. Here are the highlights:

1. **Revenues held strong**

- IFRS revenues up 14% to NOK 233m (vs. 205m) including gain from portfolio sale
- Revenues generated flat (-1%) to NOK 278m (282m)

2. **Significant cost reduction program**

- NOK 80-100m annual opex reductions (14%-18% of Q3 23 annualized OPEX) expected from Q2 2024
- 65 staff let go by creating a leaner and simpler organization, increasingly based in Madrid
- Significant reductions in SG&A across the Group

3. **Completed sale of NOK/SEK portfolio**

- Sales behind previous performance, but closing the gap to comparables
- 1,641 net sales, down 10% (1,826)
- 1,946 installations, down 12% (2,205)

4. **Unit economics show strength**

- Gross Margins Generated expanded to 26% (20%), the highest on record
- Average ticket size NOK 125k, up 4%, showing resilience in a market where solar costs are falling
- Battery attachment rate step change to 35% (26%)
- Subscription share at 33% (27%)

Please find attached the quarterly report. The presentation will be held by
Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 February 8th.

Otovo's Q4 2023 Results: Reset and ready for 2024

Q4 2023 Report and Presentation

Otovo’s third quarter results for 2023 are released today. Here are the highlights:

- **Strong annual growth, despite market taking a breath after spur in 2022**
  - 2,629 installations versus 1,970 same quarter last year, up 33%
  - 2,073 unit sales versus 2,740 same quarter last year, down 24%
  - IFRS Revenues of NOK 235M, up 35% versus last year
  - FRS reported margins back above 21%, up 1.5%p versus last year
- **Proving that portfolios can turn to cash**
  - Completed Europe’s first solar portfolio sale, with Swiss Life Asset Managers
  - NOK 94M Subscription SPV Capex, versus NOK 46M Q3 last year, up 2x
  - Significant increase in IRR, at 13.5% for projects installed this quarter v.s. 9.6% same quarter last year, up 4.1%p
- **Increasing share of projects handled from Madrid**
  - A full 24% of projects installed in Q3 were handled, at least in part, from the Shared Service Center in Madrid, up from 0% one year ago, and 8% last quarter
  - This leads to higher efficiency, and lower cost per project

Please find attached the quarterly report. The presentation will be held by
Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 October 26th.

Q3 2023 Report and Presentation

Otovo’s second quarter results for 2023 are released today. Here are the highlights:

- **(1) All time high installation pace**
  - 3,214 installations versus 1,745 same quarter last year, up 84%
  - 2,215 unit sales versus 2,398 same quarter last year, down 8%, sequentially up 13% from Q1, accelerating the pickup from the previous quarter.
  - IFRS Revenues up 2x versus last year, helped by higher ticket sizes
  - Gross margin at 21%; Gross margin generated at 24%
- **(2) Strong quarter for subscription portfolio**
  - Substantial capital deployed: NOK 133m Subscription SPV Capex versus NOK 31m same quarter last year, up 4.3x
  - Strong uptick in IRR, at 12.4% for projects installed this quarter v.s. 9.7% same quarter last year
- **(3) Opex and efficiency improving as business scales**
  - Created a shared service center in Madrid, reducing cost, improving flexibility and enhancing access to international talent
  - Reduced 50 FTEs in mature markets and lowered need of ~50 FTEs in new markets, taking down our country operating costs
- **(4) Set up for high speeds and improved profitability into 2024**
  - 2H of 2023 expected to look similar on installations as 1H with expected improvement in sales.

Please find attached the quarterly report. The presentation will be held by
Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 July 13th.

Otovo's Q2 2023 results: Betting big on Madrid

Q2 2023 report and presentation

Otovo’s first quarter results for 2023 are released today. Here are the highlights:

- **(1) All time high installation pace:**
  - 2,832 installations versus 1,459 same quarter last year, up 94%
  - 1,962 unit sales versus 2,541 same quarter last year, down 23%, sequentially up 7% from Q4 low
  - NOK 281m Total Revenues (IFRS) versus NOK 112m same quarter last year, up 2.5x
  - NOK 408m Revenue Generated, versus NOK 135m same quarter last year, up 3.0x
- **(2) All business health metrics on the right track**
  - Batteries, subscription share, ticket size, and gross margin (both generated and IFRS) up from Q1 2022
- **(3) Record growth in subscription portfolio**
  - NOK 96m Subscription SPV Capex versus NOK 19m same quarter last year, up 5.0x
  - Strong and stable IRR at 10.5% for projects installed this quarter v.s. 10.0% same quarter last year
- **(4) Strong outlook**
  - NOK 408m of Revenues generated comfortably ahead of pace needed to reach 1H 23 targets
  - Adjusting 1H 23 targets upwards - expected to come in above NOK 850m, nearly 30% above previous estimates

Please find attached the quarterly report. The presentation will be held by
Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 May 4th.

Otovo's Q1 2023 results: record installations, healthy metrics, growing subscriptions, and a strong outlook. Webcast from May 4th at 09:00.

Q1 2023 report and presentation

We just published our annual report for 2022. You can read the full [report here](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/2023-03-23-otovo-annual-report-2022.pdf).

#### Key figures 2021

- **638M Revenues (IFRS) Generated** (up from 285M in 2021)
- **846M Revenues Generated** (up from 311M in 2021)
- We completed **7,379 installations**
- We did **9,505 sales** (up from 5,534 in 2021)
- Otovo is now live in **13 countries**, up from 7 in 2021.

Otovo has been listed on Euronext Growth Oslo since 19 February 2021 with ticker OTOVO.
On February 14th 2023, Otovo transferred to the main list on Oslo Stock Exchange.

Annual report 2022

Otovo’s fourth quarter results are released today.

**Highlights**

- NOKm 205 Total Revenues (IFRS) versus 99 same quarter last year, up 2.1x
- 2,205 installations versus 1,209 same quarter last year, up 82%
- 1,826 sales versus 2,066 same quarter last year, down 12%. Pipeline wait times
  down 1 month, pipeline of 4,654 projects.
- NOKm 282 Revenue Generated versus NOKm 109 same quarter last year, up 2.6x
- NOKm 56 Gross Profit Generated versus NOKm 22 same quarter last year, up 2.6x

**New markets launched**

- Sales closed in Netherlands, Belgium and Switzerland, marking the end of
  Otovo’s 6-country launch in 2022 on time and on budget. Now sales are coming
  from 13 European countries.

**Strong outlook**

- Reiterating guiding on at least doubling revenues generated for 1H 23
- Expecting six countries profitable in first half of this year

Please find attached the quarterly report. The presentation will be held by
Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 January 25th.

New markets launched - European platform established

Q4 2022 report and presentation

**Quarterly highlights**

- Another quarter of records in sales, installations, revenue and margin:
  - 2,740 sales versus 1,470 same quarter last year, up 1.9x
  - 1,970 installations versus 1,086 same quarter last year, up 1.8x
  - NOKm 175 in revenues, versus NOKm 86 from Q3 2021, up 2x
  - Increase even stronger when accounting for contribution from subscriptions
    with NOKm 235 in revenues generated
  - NOKm 53 gross profit generated versus NOKm 14 same quarter last year, up
    3.9x
- Breakthrough quarter for subscriptions, with portfolio reaching NOKm 227, and
  selling more than NOKm 150 worth of subscription projects
- Pan-european position established: Otovo successfully launched in Portugal, UK
  and Austria, having now sold projects in 10 European countries. Netherlands,
  Belgium and Switzerland announced as next three markets to be added in 2022
- Inflation: Hardware and labor costs are increasing, but Otovo is able to
  increase markup and margins in all countries
- Easing frictions in supply chain to have effect in Q4 and increasingly in 2023
- Strong outlook, reiterating guiding of NOKm 500 revenue generated in second
  half of 2022

Q3 2022

**Quarterly highlights**

- Strong sales: 2,398 sold projects in Q2, up 2.0x YoY
- Installations doubled: 1,745 installations in Q2, up 2.0x YoY, an annual run-rate of ~7,000 projects
- Revenues tripled: NOKm 194 revenue generated versus NOKm 64 same quarter last year, up 3.0x
- Record profits: NOKm 42 gross profit generated versus NOKm 10 same quarter last year, up 4.1x
- Battery boost: One in five installations this quarter included a battery - double the rate from Q1
- Leasing share of sold installations in the quarter 25%, up from Q1

Q2 2022

> Facing skyrocketing power prices and increased energy insecurity, homeowners have turned to solar power. Demand growth is close to vertical. This is good for solar and excellent for Otovo’s growth ambitions.

_Andreas Thorsheim, CEO_

**Quarterly highlights**

- All time high sales: 2,541 sold projects in Q1, up 212% YoY
- Best installation quarter ever: 1,459 installations in Q1 up 120% YoY, an annual run-rate of ~6,000 projects
- Battery boost: One in four sales this quarter included a battery - double the rate from Q4
- Leasing share of sold installations in the quarter 23%, increasing profitability per customer
- Cash position of NOK 445m out of Q1 22, up from NOK 224m in Q4 21
- World-class GMs recruited for the launches in Portugal and UK
- Installer network expanded by 25% to meet increased demand and secure installation of the pipeline

Read full [stock announcement](https://newsweb.oslobors.no/message/561150).

Q1 2022

We just published our annual report for 2021. You can read the full [report here](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/2022-03-24-annual-report-2021.pdf).

#### Key figures 2021

- **297M Revenues Generated** (up from 147 in 2020)
- We completed **3759 installations**
- We did **5500 sales** (up from 2 247 in 2020)
- We got **500 installers** on our platform (up from 400 in 2020)
- Otovo is now live in **7 countries**, launching Italy and Germany since 2020.

#### Highlights from 2021

- **February**: Otovo is listed on Euronext Growth Oslo
- **March**: Leasing introduced in Poland and France
- **April**: Italy is launched as the 6th country, with batteries from start
- **July**: 2020 sales volume surpassed
- **September**: Batteries are introduced in Spain
- **November**: Successful acquisition of EDEA
- **December**: Germany is launched as the 7th country, with batteries from start

Otovo Annual Report for 2021

Read more [on Oslo Børs](https://newsweb.oslobors.no/message/551640)

Q4 2021 report and presentation

Q3 2021 report

Q2 2021 report and presentation

Q1 2021 report

Otovo Annual Report FY 2020

[Link to the presentation](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/2020-04-01-otovo-otc.pdf)

Otovo OTC presentation FY2019

On **Thursday 28 August 2025 at 09:00 CEST**, Otovo will host an extraordinary general meeting. The meeting will be hosted digitally.
Please read the notice of extraordinary general meeting of Otovo ASA.

Use this [link to register for the event](https://investor.vps.no/gm/logOn.htm?token=2eeb9383f889993d735d14729c146847783de085&validTo=1758956400000&oppdragsId=20250807VPIE7YU0).

The registration is open between 2025-08-07 at 14:00 CEST and 2025-08-26 at 16:00 CEST. You
will receive a separate reference number and PIN code in your invite.

Notification of extraordinary General Meeting August 2025

An extraordinary general meeting of Otovo ASA was held on 4 July 2025 at 09:00 (CEST) as a digital meeting.

By authorisation from the chair of the board of directors, Beatriz Malo de Molina, Jonas William Eikenes Lødøen opened the general meeting and informed about the attendance. 

The list over attending shareholders, proxies and advanced votes showed that 191,640,322 of the Company's shares (of in total 280,007,384 shares issued), 
corresponding to approximately 68.44% of the Company's share capital, were represented at the general meeting.

All matters were approved in accordance with the notice. Please see the minutes for more information.

Minutes of Extraordinary General Meeting 4 July 2025

On **Friday 4 July 2025 at 09:00 CEST**, Otovo will host an extraordinary general meeting. The meeting will be hosted digitally.

Please read the notice of extraordinary general meeting of Otovo ASA.

Use this [link to register for the event](https://investor.vps.no/gm/logOn.htm?token=950d7e42cf1c7e211acb377ae00d5e70c7d823e6&validTo=1754204400000&oppdragsId=20250611VPOCV3U0).

The registration is open between 2025-06-13 at 09:00 CEST and 2025-07-02 at 16:00 CEST. You will receive a separate reference number and PIN code in your invite.

Notification of extraordinary General Meeting July 2025

The Annual General Meeting of Otovo ASA was held on 15 May 2025 at 10:00 (CEST) as a digital meeting.

The General Meeting was opened by the chair of the Board Beatriz Malo de Molina, who informed about the attendance. The list of attending shareholders, proxies and advanced votes showed that 123,852,015 shares (of in total 280,007,384 shares issued), corresponding to 44.23% of the Company's share capital were represented at the General Meeting.

Minutes of Annual General Meeting 2025

On **Thursday 15 May 2025 at 10:00 CEST**, Otovo will host their annual general meeting.
The meeting will be hosted digitally.

Please read the [notice of Otovo ASA's annual general meeting 2025](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/29-04-notice-of-agm-of-otovo-asa-.pdf).

Use this link to [register for the event](https://investor.vps.no/gm/logOn.htm?token=cf09ab6386168f7e2a6289f42ee965aa5b5e64fd&validTo=1749888000000&oppdragsId=20250205VPPKBQU0).

The registration is open between 2024-04-24 17:00 CET and 2024-05-13 16:00 CET.
You will receive a separate reference number and PIN code in your invite.

Notification of annual General Meeting 2025

The annual general meeting of Otovo AS was held on 17 April 2024 at 09:00 (CEST)
as a digital meeting.

The general meeting was opened by the chair of the board Peter Mellbye, who informed about the attendance. The list of attending shareholders, proxies and advanced votes showed that 208,016,291 shares (of in total 279,589,524 shares issued), corresponding to 74.40% of the Company's share capital were represented at the general meeting.

Minutes of Annual General Meeting 2024

On **Tuesday April 17th, 2024 at 09:00 CEST** Otovo will host their annual general
meeting. The meeting will be hosted digitally.

Please read the [notice of Otovo ASA's annual general meeting 2024](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/2024-03-26+-+Otovo+ASA+-+Notice+of+AGM+2024.pdf).

Use this link to [register for the event](https://investor.vps.no/gm/logOn.htm?token=4acba8ba29620c8e8c72a101eb093cf37526569c&validTo=1715929200000&oppdragsId=20240214VPL82TU0).

The registration is open between 2024-03-26 17:00 CET and 2024-04-15 16:00 CET.
You will receive a separate reference number and PIN code in your invite.

Notification of annual General Meeting 2024

On **Friday December 1st, 2023 at 09:00 CET** Otovo will host an extraordinary general
meeting. The meeting will be hosted digitally.

Please read separate [notice document here](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/11-10-notice-for-extraordinary-general-meeting-EN.pdf).
You can register for the event by [using this link](https://investor.vps.no/gm/logOn.htm?token=f46a9febfb5f3f157858fa6113a32b67bff8c6b0&validTo=1704009600000&oppdragsId=20231110VPIOSWU0).
The registration is open until 29th of November 2023 at 16:00 CET. You will receive a separate reference number and PIN code in your invite.

_Are you a Norwegian investor? See separate notice below._

## Innkalling til ekstraordinær generalforsamling

Vi inviterer til en ekstraordinær generalforsamling klokken **09:00, fredag 1. desember 2023**.
Vennligst les gjennom den Norske [innkallingen her](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/11-10-notice-for-extraordinary-general-meeting-NO.pdf).
For å registrere deg, vennligst [følg denne lenken](https://investor.vps.no/gm/logOn.htm?token=f46a9febfb5f3f157858fa6113a32b67bff8c6b0&validTo=1704009600000&oppdragsId=20231110VPIOSWU0).
Du vil motta referansenummer og PIN-kode for å registrere deg med innkalingen.

Extraordinary general meeting Nov 2023

The annual general meeting of Otovo AS was held on 25 April 2023 at 10:00 (CEST)
as a digital meeting.

The general meeting was opened by board member Ingunn Andersen Randa, who
informed about the attendance. The list of attending shareholders, proxies and
advanced votes showed that 94,486,358 shares (of in total 148,789,798 shares
issued), corresponding to 63.50% of the Company's share capital were represented
at the general meeting.

Minutes from annual General Meeting 2023

On **Tuesday April 25th, 2023 at 10:00** Otovo will host their annual general
meeting. The meeting will be hosted digitally.

Please read the [notice of Otovo ASA's annual general meeting 2023](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/2023-04-Notice-annual-general-meeting-otovo-ASA.pdf).

Use this link to [register for the event](https://investor.vps.no/gm/logOn.htm?token=f2a7462c84f0ffa6c3fb827cc3017dad1eab98f9&validTo=1685001600000&oppdragsId=20230328VPJBJ6U0).

The registration is open between 04.04.2023 kl. 16.00 and 23.04.2023 kl. 12.00. You will receive a separate reference number and PIN code in your invite.

Notification of annual General Meeting 2023

On **Thursday February 9th, 2023 at 10:00** Otovo will host an extraordinary general
meeting. The meeting will be hosted digitally.

Please read separate [notice document here](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/01-26-notice-for-extraordinary-general-meeting.pdf).
You can register for the event by [using this link](https://investor.vps.no/gm/logOn.htm?token=989bad17c4440a87cd37342cd8f420c1c0345bf8&validTo=1678525200000&oppdragsId=20230125VPQAZBU0).
The registration is open until 7th of February 2023. You will receive a separate reference number and PIN code in your invite.

_Are you a Norwegian investor? See separate notice below._

## Innkalling til ekstraordinær generalforsamling

Vi inviterer til en ekstraordinær generalforsamling klokken **10:00, tordag 9. februar 2023**.
Vennligst les gjennom [innkallingen her](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/01-26-notice-for-extraordinary-general-meeting.pdf).
For å registrere deg, vennligst [følg denne lenken](https://investor.vps.no/gm/logOn.htm?token=989bad17c4440a87cd37342cd8f420c1c0345bf8&validTo=1678525200000&oppdragsId=20230125VPQAZBU0).
Du vil motta referansenummer og PIN-kode for å registrere deg med innkalingen.

Extraordinary general meeting Feb 2023

The annual general meeting of Otovo AS was held on 26 April 2022 at 11:00 (CEST)
at the Company's headquarter at Torggata 7, 0181 Oslo, Norway.

The general meeting was be opened by the board of directors’ representative,
Ingunn Andersen Randa, who registered the attending shareholders. A list of
attending shareholders, including the number of shares and votes represented, is
enclosed to the minutes as Appendix 1 in the Meeting minutes.

53,149,368 of a total of 134,567,747 shares and votes in the Company were
represented, or 39.74% of the share capital. The list was unanimously approved
by the general meeting.

Minutes of Annual General Meeting 2022

On Tuesday 26 April 2022 at 11:00 CET Otovo will hold an Annual General Meeting in the company's offices in Torggata 7, Oslo.

Register: [Link to registration](https://investor.vps.no/gm/logOn.htm?token=6b04daa2eef2daf08b42811297e7ce921596a05f&validTo=1653555600000&oppdragsId=20220325VPOHR8U0)

Notification of Annual General Meeting 2022

On **Friday February 25th, 2022 at 10:00** Otovo will host an extraordinary general
meeting. Please read separate [notice document here](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/2022-02-18-WEB-ENG-Otovo.pdf).
You can register for the event by [using this link](https://investor.vps.no/gm/enrollLocale.htm?lang=en&country=GB&returnTo=logOn.htm).

Are you a Norwegian investor? See separate notice below.

## Innkalling til ekstraordinær generalforsamling

Vi inviterer til en ekstraordinær generalforsamling klokken **10:00, fredag 25. februar 2022**.
Vennligst les gjennom [innkallingen her](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/2022-02-18-WEB-NOR-Otovo.pdf). For å registrere deg, vennligst [følg denne lenken](https://investor.vps.no/gm/enrollLocale.htm?lang=no&country=NO&returnTo=logOn.htm).

Extraordinary general meeting Feb 2022

To register for the event, please [click here](https://investor.vps.no/gm/logOn.htm?token=bdadc8a76964fc4851bb407282587739d4a56519&validTo=1641117600000&oppdragsId=20211125VPOMRGU0) (registration closed)

Extraordinary general meeting Nov 2021

Notice of AGM 2021

The prospectus was approved by the Financial Supervisory Authority of
Norway and will, subject to regulatory restrictions in certain jurisdictions, be
available at www.dnb.no/emisjoner and www.paretosec.com/transactions.

The Subsequent Offering will comprise the issue of up to 17,400,000 new shares
(the “Offer Shares”) in the Company at a subscription price of NOK 3.45 per
share (the “Offer Price”), directed towards Eligible Shareholders, potentially
raising total gross proceeds of approximately NOK 60 million. The Offer Price is
equal to the subscription price in the Private Placement.

The subscription period in the Subsequent Offering is expected to commence on 2
January 2024 at 09:00 (CET).

Reference is made to the stock exchange announcement published on 21 December 2023 regarding the approval and publication of the Prospectus for a Subsequent Offering.

Otovo Prospectus

Otovo have sold all subscription assets in Norway and Sweden '20-'24 to Swiss Life Asset Managers.

**Portfolio size**

- ~1,600 active projects across Norway and Sweden as of closing
- Expecting similar numbers of projects to be built before end of agreement
  period, for a total of 3,000 - 3,500 projects.

**Portfolio content**

- Average power per system of 9.14kWp, producing 8,000-10,000 kWh/year in
  Scandinavian conditions, covering 30-50% of households energy needs
- Solar photovoltaic systems Portfolio performance
- High credit score, performing better than target default < 1%
- 20 year contracts

Otovo have sold all subscription assets in Norway and Sweden '20-'24 to Swiss Life Asset Managers.

Scandinavian solar portfolio transaction

Reference is made to the stock exchange announcement published on 23 September 2022 regarding the initiation of the process with the Oslo Stock Exchange (OSE) for the transfer of the Company's shares from Euronext Growth to the OSE main list.

In accordance with the Board of Directors’ expressed intent to uplist within 12 months, as described in the stock exchange announcement published on 17 February 2022, Otovo reiterates its plans to transfer its shares to the OSE main list. The company expects to submit its listing application and have the shares in the Company admitted to trading on the main list in January 2023.

The Company has prepared a prospectus in connection with the transfer and listing of its shares on the OSE main list, and the prospectus was approved by the Financial Supervisory Authority of Norway (Nw.: Finanstilsynet) today on 9 December 2022.

Otovo Prospectus Supplement

https://s3.eu-central-1.amazonaws.com/investor.otovo.com/Otovo+ASA+-+Summary+(9+December+2022).pdf

In the third quarter presentation, published on 18 October, Otovo described its
intent to expand its debt facilities, increase leverage ratio and ensure
flexibility for the subscription business.

Today, Otovo published its Green Finance Framework, outlining the use of
proceeds from such a refinancing, the process for asset evaluation and
selection, management of proceeds and reporting procedures.

CICERO Shades of Green second opinions are graded dark green, medium green or
light green, reflecting a broad, qualitative review of the climate and
environmental risks and ambitions. The dark green rating given to Otovo, the
highest possible rating, is “allocated to projects and solutions that correspond
to the long-term vision of a low-carbon and climate resilient future”

In the report Cicero summarizes Otovo’s positive climate impact:

> Renewable energy, and solar power in particular, is key to the green
> transition to a low carbon energy future. By removing barriers to the
> implementation of solar power for residential house owners, Otovo is
> contributing substantially to this transition. By focusing exclusively on
> residential solar, Otovo negates the local environmental harm (biodiversity,
> landscape etc.) large-scale renewable energy assets may cause.

Otovo publishes today its first Green Finance Framework which has received a dark green grading from Cicero. The Green Finance Framework is established to finance Otovo's fast-growing subscription portfolio.

Otovo Green Finance Framework

Yesterday evening we completed our fundraise of EUR 30m. This sets us up to
accelerate our mission of putting solar and batteries in every home in Europe,
and to become the clear no. 1 solar player in Europe.

We just completed our fundraise of EUR 30M

Equity Private Placement

We shared a strategic update and our current progress in the German market.

Market Update 2021

Voluntary offer to acquire all issued and outstanding shares in European Distributed Energy Assets Holding AS.

Otovo all-share offer for EDEA

DNB Nordic TMT & Consumer Conference

Admission to trading of shares on Euronext Growth Oslo. See [admission document](https://s3.eu-central-1.amazonaws.com/investor.otovo.com/2021-02-19-Admission+to+trading+of+shares+on+Euronext+Growth+Oslo.PDF)
for more info.

Financial reports & presentations

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