Otello Corporation share buyback program status

Reference is made to the stock exchange notice from 20 June 2023 announcing ashare buyback program for Otello Corporation ASA (the Company). From 29 April2024 through 3 May 2024, Pareto Securities AS has bought 34,755 shares onbehalfof the Company at an average price of NOK 7.83 and a total value of NOK272,110.Since the initiation of the share buyback program a total of 3,515,233 sharesatan average price of NOK 8.53 and a total value of NOK 29,970,258 have beenacquired. The maximum consideration to be paid for shares acquired under thebuyback program is NOK 15 per share and the maximum number of shares that canbepurchased is 4,554,986 shares (5% of total outstanding shares). At presentdate,Otello owns 3,515,233 treasury shares in the Company. The shares are purchasedin accordance with the authorization granted at the company's annual generalmeeting on 1 June 2023.

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