Otovo ASA — M&A Activity 2021

Dec 3, 2021

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

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.

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