August 2026 Operational Update

Service Business Operating Update Preliminary and unaudited Overview. Otovo ASA ("Otovo") is providing preliminary, unaudited August 2026 service metrics as the first in a series of monthly investor updates. Beginning with August, Otovo will publish three service-business metrics monthly for the foreseeable future: completed service work orders, average revenue per completed service work order and estimated gross margin per completed service work order.

August service metrics Metric August 2026 Estimated completed service work orders 2,766 Estimated average revenue per completed service work order $656 Estimated gross margin per completed service work order 46%

Revenue from completed service work orders represents a large portion of Otovo's blended revenue; accordingly, the estimated gross margin per completed service work order is expected to be close to the blended gross margin across service work, memberships and projects.

Estimated daily break-even level Using the August average revenue per work order and a conservative view of membership and project margins, management estimates that approximately 160 completed service work orders per business day would cover Otovo's recurring company cost base, including corporate overhead. Otovo refers to this estimate as its core company cash-flow break-even level. As the average service revenue per work order increases or decreases, the number of work orders required to reach this break-even level would decrease or increase, respectively. The estimate excludes dual listing costs, acquisition-related legal costs, restructuring costs such as severance, and non-cash expenses such as bad debt. It is a non-IFRS management measure and should not be interpreted as IFRS net income or cash flow from operating activities as presented under IFRS. Daily completions and average service work order revenue reached the estimated break-even level late in August, and management expects such performance to improve into September given additional technician capacity and continued growth in work order intake.

Lower costs and growing demand Cost reductions implemented during August are expected to impact September and later periods. Additional Endurance-enabled cost reductions are planned for September and October. All cost reductions are expected to further improve the company's financial performance. The 160-work-order threshold was estimated based on Otovo's August cost structure and therefore does not assume savings from measures or efficiencies resulting from expanded Endurance capabilities executed during August or expected to be implemented in September and beyond. Service work-order intake exceeded completions during August, increasing Otovo's backlog and technician overtime. Management expects technician hiring to increase completed work orders, reduce technician overtime and spread fixed costs across greater volume, thereby lowering the fixed cost per work order and improving the estimated 46% gross margin per completed service work order. The August figures exclude any contribution from Green Panel or the other announced acquisition targets and exclude any unrealized Endurance-related efficiencies at those businesses. All figures are preliminary and unaudited and remain subject to Otovo's normal financial-close procedures. The $656 amount is average service revenue per completed service work order during August.

Investor Relations Contacts Rodney McMahan Head of Investor Relations rodney.mcmahan@otovo.com

Forward-Looking Statements This report contains forward-looking statements within the meaning of applicable securities laws. Actual results may differ because of demand, cancellations, technician availability, pricing, costs, project and membership performance, transaction closings, integration and other risks described in Otovo's public disclosures. Forward-looking statements include, but are not limited to, statements regarding the company’s expectations, plans, objectives, strategy, future operations, business performance, financial condition, prospects, growth opportunities, market position, anticipated benefits of transactions or initiatives, and other statements that are not historical facts. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions. These forward-looking statements are based on current expectations, assumptions, estimates, and projections and are subject to risks, uncertainties, and other factors, many of which are beyond the company’s control, that could cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, market conditions, regulatory developments, competitive pressures, customer demand, supply chain constraints, macroeconomic conditions, execution risks, and other risks described in the Company’s public filings or other disclosures, if applicable. The company undertakes no obligation to update or revise any forward-looking statements contained in this report, whether as a result of new information, future events, or otherwise, except as required by applicable law. Readers should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.