Otovo Asa Class A · OSL:OTOVO
Otovo Asa Class A — Q1 2026 Earnings Presentation
31 slides from Otovo Asa Class A's earnings presentation, May 28, 2026
Slide 1: Otovo Q1 26 presentation
Otovo Your Power - Backed by Ours Q1 26 presentation 28 May 2026
Slide 2: Disclaimer and important information
Disclaimer and important information This presentation and its appendices (the "Presentation") have been prepared by Otovo ASA ("Otovo" and the "Company", and together with its consolidated subsidiaries, the "Group") solely for information purposes in connection with a contemplated private placement
Slide 3: Today's presenters
Today’s presenters William J. (John) Berger Jennifer Santoscoy Chief Executive Officer Chief Financial Officer 3
Slide 4: Agenda
Agenda 1 Q1 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 4
Slide 5: Q1 highlights
Q1 26 highlights Financial highlights Business Update What we said In the 2025 Annual report, the new management team committed to: ● Scale service through acquisitions, partnership activity and organic growth. ● Rationalize operations through lower overhead, tighter capital allocation, improved cas
Slide 6: Agenda
Agenda 1 Q1 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 6
Slide 7: Otovo 2.0 at a glance
Otovo 2.0 at a glance AI-powered home & commercial energy services consolidator Key facts & investment themes Monitoring, repair & memberships • 37m+ behind-the-meter power asset installations across Europe and the US • 13m+ orphaned customers with no service partner to call as ~50% of installers ha
Slide 8: Market opportunity
Market opportunity The service gap – orphaned systems in crisis It is estimated that over 50% of residential solar installers operating in 2020 have gone bankrupt or exited the industry leaving millions of homeowners with no one to call when their 37m+ systems fail. Otovo can bridge this gap by givi
Slide 9: Business model
Business model Five revenue streams per customer – Target ARPU ~$1,400/yr – 45% blended gross margin Revenue Stream Residential Share Commercial Otovo Care membership Recurring fee for monitoring + fast- $250 18% $3,100 45% response access Blended gross margin for service business Repairs / Field Se
Slide 10: Endurance®: One tech stack and platform
Endurance®: One tech stack and platform Proprietary Tech Stack Enables Growth and Use of Agents Across the Business Marketing Sales Lead generation, multi-channel outreach, attribution, Lead-to-quote-to-signed-contract, with AI handling and automation flows — all under one roof. phones and inbox alo
Slide 11: Live in production today
Live in production today Endurance® is already running revenue-critical workflows across all four areas Marketing Sales Operations Supply chain • Lead intake from outside • AI phone agent books • Unified inbox: email + SMS • Inventory across sources — direct into inspections 24/7 — + voice on the sa
Slide 12: Growth strategy
Growth strategy Three growth channels, ranked by impact — M&A first, OEM and asset-owner deals second, direct acquisition third First Second Third M&A OEM & Asset Owner Deals Direct Acquisition (organic) Roll-up of service companies and Multi-geography contracts driving scale 1.4m legacy customer ba
Slide 13: Strategic transactions 2025–2026
Strategic transactions 2025–2026 Consolidating a fragmented market — customer books, service companies and OEM partnerships Company Region Acquired Deal Type Purchase Price Revenue Notes Zolar / Soly / Q4 2025 30,000 customer records; ~5,000 DE · NL · NO Customer books $1.2m $1.9m Solcellespesialist
Slide 14: Agenda
Agenda 1 Q1 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 14
Slide 15: Costs by category
Costs by category Cost cuts in European business on track, while fully consolidating costs of Onvis & SSP in Q1 Cost by category (excluding non-recurring costs) Comments ● Adjusted opex was lower YoY largely due to material reductions to European payroll, marketing expense and other opex. ○ Payroll
Slide 16: Balance sheet
Balance sheet Strengthened cash position Consolidated Balance Sheet Comments ● Cash position nearly doubled to USD 15.1m (+96% YoY), reflecting completion of the USD 16.6m private placement (NOK 161m) in March 2026, anchored by Encompass, Franklin Templeton and Electron ● Proceeds earmarked to fund
Slide 17: Agenda
Agenda 1 Q1 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 17
Slide 18: Customer growth trajectory
Customer growth trajectory From early traction to rapid scale: building the AI-powered platform that will define home and commercial energy service YE 2028E: YE 2027E: 275,000 Customers* 170,000 Customers* YE 2026E: 60,000 Customers* Q1 2026: 30,000 Customers Building density in key Otovo as a leadi
Slide 19: Endurance® to replace the SaaS stack across three orgs
Endurance® to replace the SaaS stack across three orgs Company-wide rollout to be completed in Q3 26 EnergyAid Otovo "Cloud" (legacy) SolarService Pros • Enterprise CRM, service • European marketing • Sales conversation cloud, and integration automation platform retired intelligence, drip messaging,
Slide 20: Strategic transactions 2026 to date
Strategic transactions 2026 to date Consolidating a fragmented market — customer books, service companies and OEM partnerships Company Region Acquired Deal Type Purchase Price Revenue Notes Zolar / Soly / Q4 2025 30,000 customer records; ~5,000 DE · NL · NO Customer books $1.2m $1.9m Solcellespesial
Slide 21: EnergyAid integration on track
EnergyAid integration on track Market reinforcement and new entry Integration on track ● Entered Arizona, Nevada and Colorado via EnergyAid and Freedom portfolio acquisitions ● EnergyAid leadership, especially sales leadership, were critical talent adds to Otovo ● Integration ahead of schedule; cost
Slide 22: Agenda
Agenda 1 Q1 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 22
Slide 23: Q1 takeaways
Q1 26 takeaways Transforming business mix, deep opex cuts, improving margins, and accelerating sales 01 Changing business mix 02 Opex cuts 03 Near-Term Catalysts Focus on Service and Subscriptions Deep cuts realized; more ahead in Q2/Q3 Key milestones Revenue Cost Base YoY NOW Sales Accelerating Pro
Slide 24: Outlook
Outlook Pro forma guidance and M&A pipeline 01 2026 Guidance 02 M&A Pipeline & Margin Expansion H2 26 annualized, incl. all acquisitions to date Accretive pipeline to fill geographic footprint Revenue Active Definitive Discussions $80-90m companies 3 $40+m rev. potential $10+m EBITDA potential Adjus
Slide 25: Target operating model
Target operating model Growth M&A + organic Gross Margin 45% EBIT Margin 25% Customer Satisfaction Target operating model assume 2026 projected gross margins and capture the benefits of customer growth on a scalable operating platform, along with savings from the Endurance® system rollout and expans
Slide 26: Q&A
Q&A 26 26
Slide 27: Appendix: Adjusted payroll reconciliation
Appendix: Adjusted payroll reconciliation 27
Slide 28: Appendix: Adjusted Other opex reconciliation
Appendix: Adjusted Other opex reconciliation Non-cash contains bad debt provision, non-cash balance sheet adjustments 28
Slide 29: Appendix: Adjusted EBITDA reconciliation
Appendix: Adjusted EBITDA reconciliation Non-cash contains bad debt provision, non-cash balance sheet adjustments 29
Slide 30: Appendix: Balance sheet in NOK & USD
Appendix: Balance sheet in NOK & USD USDNOK: 9.73 30
Slide 31: Contact
Contact John Berger Chief Executive Officer john.berger@otovo.com Jennifer Santoscoy Chief Financial Officer jennifer.santoscoy@otovo.com