Extraordinary general meeting of Otovo AS and completion of the EDEA acquisition

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the previous announcements regarding Otovo AS' ("Otovo")
all share offer for all the shares in European Distributed Energy Assets Holding
AS ("EDEA") (the "Offer"). 

The extraordinary general meeting of Otovo AS was held today on 3 December 2021
at 12:00 hours (CET) (the "EGM"). All proposals on the agenda were approved,
including the issuance of consideration shares to the EDEA shareholders who have
accepted the Offer. The minutes of the EGM are attached to this announcement. 

After having waived the 90 percentage acceptance requirement on 24 November
2021, all conditions for completion of the Offer have thus been met or waived by
Otovo. Otovo hereby announces that the Offer will be completed and that
settlement will take place in accordance with the procedure described in the
Offer Document. 

Otovo will seek to have the share capital increase registered with the Norwegian
Register of Business Enterprises (the "NRBE") on or about 8 December 2021.
However, it should be noted that the case handling period at the NRBE may vary.
Final settlement by delivery of the consideration shares to the EDEA
shareholders who accepted the Offer is expected shortly after the completion of
the registration of the share capital increase with the NRBE. 

The consideration shares in the Offer will, when issued, be registered in
book-entry form in the VPS and have ISIN NO0010809783. The consideration shares
are expected to be listed and tradable on Euronext Growth Oslo under the ticker
code "OTOVO" from on or about the time they are issued. 

***

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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details, and more.

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