Otello Corporation share buyback program status

Issuer

Otello Corporation ASA

Reference is made to the stock exchange notice from 22 July 2024 announcing a
share buyback program for Otello Corporation ASA (the Company). From 29 July
2024 through 2 August 2024, Pareto Securities AS has bought 75,600 shares on
behalf of the Company at an average price of NOK 7.91 and a total value of NOK
598,278. Since the initiation of the share buyback program a total of 131,600
shares at an average price of NOK 7.91 and a total value of NOK 1,040,631 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 3,819,964 treasury shares in the Company. The shares
are purchased in accordance with the authorization granted at the company's
annual general meeting on 3 June 2024.

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624453_OTEC Transaksjonsoversikt2.pdf