Otovo Asa Class A · OSL:OTOVO
Otovo Asa Class A — Q2 2026 Earnings Presentation
35 slides from Otovo Asa Class A's earnings presentation, Aug 13, 2026
Slide 1: Otovo Q2 26 presentation
Otovo Your Power - Backed by Ours Q2 26 presentation 13 August 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 This Presentation does not constitute an offer to sell or a
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 Q2 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 4
Slide 5: Q2 26 highlights
Q2 26 highlights Financial highlights Business update Q4 26 run- Financials USDm Q2 25 Q1 26 Q2 26 rate guide* ● Total revenue up 8% q/q at constant currency, mainly driven by Field services revenue up ~200% q/q on Revenue — Field Services 0.0 1.1 3.3 ramp-up and consolidation of EnergyAid. ● Adj. g
Slide 6: Agenda
Agenda 1 Q2 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 Monitoring, repair and memberships for behind-the-meter energy, on one AI-native platform A large, orphaned installed base Targeting 37m+ behind-the-meter power asset installations across Europe and the US. 13m+ of those customers are orphaned, with no service partner to call,
Slide 8: Three secular investment theses converge in Otovo
Three secular investment theses converge in Otovo Behind-the-meter power, home-service consolidation and applied AI reinforce one another Power: demand on the rise Power Service A long-term, global bull market in behind-the-meter power, fueled by AI, electrification, data centers and reshoring. Serv
Slide 9: Market opportunity
Market opportunity The service gap – orphaned systems in crisis It is estimated that ~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 systems fail. Otovo can 37m+ bridge this gap by giving
Slide 10: Business model
Business model Five revenue streams per customer – target ARPU ~USD 1,400/yr – 45% blended gross margin Revenue stream Residential Share Commercial Unit economics Otovo Care membership 250 18% 3,100 45% Recurring fee for monitoring + fast-response access Blended gross margin Repairs / field service
Slide 11: Endurance®: one tech stack and platform
Endurance®: one tech stack and platform One proprietary stack, with agents used across every part of the business Marketing Sales Lead generation, multi-channel outreach, Lead-to-quote-to-signed-contract, with AI attribution, and automation flows – all under handling phones and inbox alongside the o
Slide 12: Endurance®: customer journey
Endurance®: customer journey The same service call, without and with Endurance® Every call, email and text on one thread, with Endurance confirming the inspection appointment with the customer itself, unprompted. 12
Slide 13: Endurance®: inside the platform
Endurance®: inside the platform The operating system behind the business One record per customer The AI does the work Sites, work orders, appointments, membership, territory, and Every call, email and text on one thread, with Endurance® billing on a single screen, with one proprietary data layer beh
Slide 14: Endurance® vision: Technician as the only human touch point
Endurance® vision: Technician as the only human touch point Enabling more operating leverage as the business grows organically and through acquisitions ANNUALIZED COST IMPACT TO DATE, USD EBIT MARGIN IMPACT (AT SCALE) >5m 20-30% 10-20% +10% ~2.3m SaaS ~1.7m SaaS support ~1.0m Staffing & admin Servic
Slide 15: Growth strategy
Growth strategy Three growth channels, ranked by impact – M&A first, OEM and asset-owner deals second, and direct acquisition third First Second Third M&A OEM and asset-owner deals Direct acquisition (organic) Roll-up of service companies and customer Multi-geography contracts driving scale 1.9m leg
Slide 16: Strategic transactions 2025–2026
Strategic transactions 2025–2026 Consolidating a fragmented market – customer books, service companies and OEM partnerships Revenue EBIT Company Region* Acquired Deal Type Purchase Price Notes ’26e ’26e** Zolar / Soly / DE · NL · Q4 2025 30,000 customer records; ~5,000 Customer books USD 1.2m USD 1.
Slide 17: Agenda
Agenda 1 Q2 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 17
Slide 18: Q2 26 highlights
Q2 26 highlights Financial highlights Comments Revenue Q4 26 run- USDm Q2 25 Q1 26 Q2 26 rate guide* ● Q2 26: USD 10.0m, up 8% q/q at constant currency vs Q1. Field services revenue of USD 3.3m, Revenue — Recurring 0.0 0.5 0.6 +197% q/q at constant currency, driven by ramp-up and consolidation of En
Slide 19: Services business ramping quickly, with gross margins climbing
Services business ramping quickly, with gross margins climbing toward our 45% Field Services margin target Gross Margin Comments • Q2 gross margin: 18% vs -12% in Q1, with more technicians moving from training to work 45% • June exit margin: 34%, driven by further field service ramp-up and EnergyAid
Slide 20: Opex per customer falls 68% by December 2026
Opex per customer falls 68% by 31 December 2026 1,400 YEAR-END 2026 COST $1,268 RESET 1,200 $1,148 2H26E Opex/customer: ~USD 402 1,000 vs 1H25: Opex per customer Opex/customer down 68% expected to continue 800 downward trend in 2027 $624 600 $402 400 200 0 1H25A 2H25A 1H26A 2H26E 14.7k avg • USD 1,2
Slide 21: Balance sheet
Balance sheet EnergyAid funded; equity strengthened Consolidated balance sheet Comments USDm Q1 26 Q2 26 Δ% ● Cash of USD 3.9m at 30 June (Q1: USD 15.6m) after funding the Cash 15.6 3.9 -75% cash portion of the EnergyAid acquisition, one-time M&A and severance payments, dual-listing preparation and
Slide 22: Agenda
Agenda 1 Q2 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 22
Slide 23: Customer growth trajectory raised
Customer growth trajectory raised 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: 90,000 Customers* 31 July 2026: ~55,000 Customers Building density in key Oto
Slide 24: Endurance® roll-out update
Endurance® roll-out update Company-wide completion reaffirmed for Q3 26. USD 1m additional savings identified Q4 25 – Q1 26 Q2 26 – Q3 26 Q3 26 Q4 26 Ongoing Platform build Roll-out underway Company-wide roll- Savings to be Continuous savings complete; migrations across all organizations out complet
Slide 25: Technician growth leads to revenue growth
Technician growth leads to revenue growth 98 is the early August snapshot; forecast adds Green Panel at the Aug/Sept close Increase driven by upcoming acquisitions 337 335 (Green Panel and 3 smaller 308 313 transactions) 91 98 49 52 51 13 14 15 Jan Feb Mar Apr May Jun Jul Early Aug Sep E Oct E Nov E
Slide 26: Agenda
Agenda 1 Q2 26 highlights 2 Otovo 2.0 3 Financial results 4 Business highlights 5 Outlook & summary 26
Slide 27: Bridging Q2 2026 actuals to Q4 2026 guidance
Bridging Q2 2026 actuals to Q4 2026 guidance Revenue (USDm, annualized run-rate numbers) Adj. EBITDA (USDm, annualized run-rate numbers) Q2 26 revenue Organic Field Services Acquired Field Services Q2 26 Adj. EBITDA Organic Field Services Route density Core G&A 27
Slide 28: Revenue rises 7x from Q2 to Q4 as core G&A declines
Revenue rises 7x from Q2 to Q4 as core G&A declines Q4 estimated to generate USD 27.5m of revenue AI BREAKS THE COST CURVE Traditional economic relationship between field labor and costs and office labor and costs broken $27.5 through aggressive deployment of AI. NET PROFIT AND CASH GENERATION $3.9
Slide 29: Outlook
Outlook Guidance and M&A pipeline 01 Q4 26 run-rate guidance 02 M&A Pipeline & Guidance: annualized run rate based on Q4 2026 estimate. Guidance Margin Expansion changed on additional acquisitions, incremental Endurance® savings, Accretive pipeline to fill geographic footprint more B2B business pote
Slide 30: Summary
Summary A bigger business at lower cost – with the benefits landing in 2H 2026 Acquisition growth Costs coming down, driven by Endurance® Eight acquisitions completed or announced since the Dec >USD 5m of annualized cost impact identified, up from ~USD 2025 merger, scaling across Europe and the US.
Slide 31: Q&A
Q&A 31 31
Slide 32: Appendix: Adjusted EBITDA reconciliation
Appendix: Adjusted EBITDA reconciliation Non-cash contains bad debt provision, non-cash balance sheet adjustments 32
Slide 33: Appendix: Adjusted opex reconciliation
Appendix: Adjusted opex reconciliation Non-cash contains bad debt provision, non-cash balance sheet adjustments 33
Slide 34: Appendix: Consolidated balance sheet in NOK & USD
Appendix: Consolidated balance sheet in NOK & USD USDNOK: 9.424 (fixed, both periods). 30.06.2025 comparative unaudited, per the published H1 2025 report. Percentage changes are calculated on unrounded figures. 34
Slide 35: Contact
Contact John Berger Chief Executive Officer john.berger@otovo.com Jennifer Santoscoy Chief Financial Officer jennifer.santoscoy@otovo.com