Notification of primary insider trades

On 27 May 2022 AxSol AB, the employer and close associate of primary insider and Otovo board member Johan Bergström, acquired 1,000,000 shares at NOK 25.50 per share, equivalent to 0.74 per cent of the shares outstanding. After the transaction AxSol AB holds 20.58 per cent of Otovo. The majority of shares purchased by AxSol were sold by primary insiders Lars Ekeland (General Counsel), selling 100,000 shares; Simen Fure Jørgensen (CPO) selling 150,000 shares; and Inigo Amoribieta (Managing Director for Spain, Portugal and United Kingdom)selling 600,000 shares; in order to cover tax bills accrued as part of their participation in the company’s share based compensation schemes over several years. All shares were sold at price NOK 25.50 per share. The required PDMR forms for the purchase and the sales are attached. *** 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, and batteries in the home. Otovo is a marketplace that organises hundreds of local, high quality and qualified 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. About AxSol: AxSol is a fully owned subsidiert of Axel Johnson AB. Axel Johnson is a leading Swedish family-owned group, with a major footprint in food, and with businesses spanning across sectors as diverse as industrial and IT solutions, beauty, health and wellness, and solar energy. AxSol was established at the turn of the year 2019/2020 and comprises investments in the solar energy sector. The portfolio today includes the companies Alight, Otovo, Solkompaniet, EnergiEngagemang and Epishine. Follow Otovo on investor.otovo.com for reports, financial calendar, contact details and more.