Otello Corporation share buyback program status

Reference is made to the stock exchange notice from 20 June 2023 announcing a
share buyback program for Otello Corporation ASA (the Company). From 21 May 2024
through 23 May 2024, Pareto Securities AS has bought 41,320 shares on behalf of
the Company at an average price of NOK 7.69 and a total value of NOK 317,868.
Since the initiation of the share buyback program a total of 3,642,890 shares at
an average price of NOK 8.50 and a total value of NOK 30,956,041 have been
acquired. The maximum consideration to be paid for shares acquired under the
buyback program is NOK 15 per share and the maximum number of shares that can be
purchased is 4,554,986 shares (5% of total outstanding shares). At present date,
Otello owns 3,642,890 treasury shares in the Company. The shares are purchased
in accordance with the authorization granted at the company's annual general
meeting on 1 June 2023.

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