Reference is made to the stock exchange announcement dated 4 February 2026 relating to Otovo ASA's ("Otovo" or the "Company") agreement to acquire the rights to service the limited warranties of Freedom Power's commercial solar portfolio, consisting of more than 400 commercial systems representing approximately 70 MW of capacity (the "Agreement").
Under the Agreement, Otovo is obliged to issue consideration shares (the "Consideration Shares") to Freedom Solar LLC ("Freedom") equal to USD 425,000 (the "Consideration Amount"). Pursuant to the Agreement, the Consideration Amount is converted into NOK based on Norges Bank's official exchange rate for USD two business days prior to the issuance of the Consideration Shares, i.e., 10 September 2026. The Consideration Shares are issued at a subscription price per share equal to the volume-weighted average price (VWAP) of the Company's shares on Euronext Oslo Børs over the fourteen (14) consecutive trading days immediately preceding 1 March 2026 being the effective date of the Agreement, rounded down to the nearest whole share. The VWAP for the relevant period was NOK 13.8982.
The board of directors of Otovo has today, based on an authorization granted by the annual general meeting of the Company on 15 May 2026, resolved to issue 283,352 new shares (the "Consideration Shares") in the Company at a nominal value of NOK 0.1 per share.
The Consideration Shares will be issued on a separate, unlisted ISIN. The Consideration Shares will only become tradeable on Euronext Oslo Børs once a prospectus has been approved by the Norwegian Financial Supervisory Authority and published by the Company, which is expected during Q4 2026.
Following registration of the Consideration Shares with the Norwegian Register of Business Enterprises, the share capital of Otovo will be NOK 7,993,180.80, divided into 79,931,808 shares, each with a nominal value of NOK 0.1.
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.