PDMR-Notifications in connection with private placement

Reference is made to the stock exchange announcement made on 17 February 2022 regarding successful completion of the private placement of new shares in Otovo AS (the "Company") (the "Private Placement"). Certain close associates of primary insiders have subscribed and been conditionally allocated new shares in the Private Placement as further described in the attached forms. Further, the offer shares in the Private Placement are (subject to approval by the extraordinary general meeting) expected to be settled with existing and unencumbered shares in the Company that are already listed on the Euronext Growth Oslo, pursuant to a share lending agreement entered into between the Company, Arctic Securities AS (on behalf of the Managers) and Agder Energi Invest AS, Andmar Operations AS and OBOS BBL as lenders, see attached forms. For further information, please contact: Lars Ekeland, Acting Chief Financial Officer Phone: +47 91 60 70 53 *** This information is subject to disclosure under the Norwegian Securities Act section §5-12. *** 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. Follow us on investor.otovo.com for reports, financial calendar, contact details, and more