Key information related to the potential subsequent offering

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR
ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the stock exchange announcement published by Otovo ASA
("Otovo" or the "Company") on 25 January 2023 regarding the successful
completion of a private placement of 12,575,452 new shares in the Company with
gross proceeds of approximately NOK 250,000,000 (the "Private Placement") and a
potential subsequent share offering (the "Subsequent Offering").

The Company has, subject to completion of the Private Placement, and certain
other conditions, resolved to carry out a Subsequent Offering of up to 2,012,072
new shares. The subscription price in the Subsequent Offering will be NOK 19.88
("Subscription Price") which is equal to the subscription price in the Private
Placement. The Subsequent Offering will, subject to applicable securities laws,
be directed towards eligible shareholders in the Company as of close of trading
on 25 January 2023 (as registered in the VPS on 27 January 2023) (the "Record
Date"), who (i) were not included in the wallcrossing phase of the Private
Placement, (ii) were not allocated shares in the Private Placement, and (iii)
are not resident in a jurisdiction where such offering would be unlawful or,
would (in jurisdictions other than Norway) require any prospectus, filing,
registration or similar action ("Eligible Shareholders").

The Eligible Shareholders will receive non-tradeable subscription rights based
on their registered shareholdings as of the Record Date. Oversubscription will
be permitted. Subscription without subscription rights will not be permitted. 

Completion of the Subsequent Offering will, inter alia, be conditional upon (i)
completion of the Private Placement, (ii) a resolution of the extraordinary
general meeting, expected to be held on or about 9 February 2023, resolving the
share capital increases pertaining to the issuance of the new shares in the
Private Placement and authorizing the Board to resolve the Subsequent Offering,
(iii) the trading price of the Company's shares exceeding the subscription
price, and (iv) approval and approval of a securities note and a registration
document supplement to the registration document approved by the NFSA (Nw.:
Finanstilsynet) on 9 December 2022 (the "Prospectus"). The subscription period
for the Subsequent Offering (if made) is expected to commence in late February
2023, subject to e.g. approval and publication of the Prospectus.

In accordance with the continuing obligations of companies listed on the Oslo
Stock Exchange, the following key information is given with respect to the
Subsequent Offering:
o	Date on which the terms and conditions of the repair issue were announced: 25
January 2023
o	Last day including right: 25 January 2023
o	Ex-date: 26 January 2023
o	Record date: 27 January 2023
o	Date of EGM approval: 9 February 2023
o	Maximum number of new shares: 2,012,072 new shares
o	Subscription price: NOK 19.88

For further queries, please contact: 
Andreas Thorsheim, Chief Executive Officer
Phone: [phone]

Petter Ulset, Chief Financial Officer
Phone: [phone]

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

***

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, vetted, high quality 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.

IMPORTANT NOTICE:

These materials do not constitute or form a part of any offer of securities for
sale or a solicitation of an offer to purchase securities of the Company in the
United States or any other jurisdiction. The securities of the Company may not
be offered or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"). The securities of the Company have not been, and will not be,
registered under the U.S. Securities Act. Any sale in the United States of the
securities mentioned in this communication will be made solely to "qualified
institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No
public offering of the securities will be made in the United States.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression "EU
Prospectus Regulation" means Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 (together with any applicable
implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

The Target Market Assessment is without prejudice to the requirements of any
contractual, legal or regulatory selling restrictions in relation to the
transaction. For the avoidance of doubt, the Target Market Assessment does not
constitute: (a) an assessment of suitability or appropriateness for the purposes
of MiFID II; or (b) a recommendation to any investor or group of investors to
invest in, or purchase, or take any other action whatsoever with respect to the
Company's shares. Each distributor is responsible for undertaking its own Target
Market Assessment in respect of the Company's shares and determining appropriate
distribution channels.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forward-looking
statements contained in this announcement speak only as at its date, and are
subject to change without notice.

This announcement is made by and, and is the responsibility of, the Company. The
Manager is acting exclusively for the Company and no one else and will not be
responsible to anyone other than the Company for providing the protections
afforded to their respective clients, or for advice in relation to the contents
of this announcement or any of the matters referred to herein. 

Neither the Manager nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the Manager
nor any of its respective affiliates accepts any liability arising from the use
of this announcement.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

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© Oslo Bors ASA, source Oslo Stock Exchange