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 22 April2024 through 26 April 2024, Pareto Securities AS has bought 48,799 shares onbehalf of the Company at an average price of NOK 8.05 and a total value of NOK392,667. Since the initiation of the share buyback program a total of3,480,478shares at an average price of NOK 8.53 and a total value of NOK 29,698,147havebeen acquired. The maximum consideration to be paid for shares acquired underthe buyback program is NOK 15 per share and the maximum number of shares thatcan be purchased is 4,554,986 shares (5% of total outstanding shares). Atpresent date, Otello owns 3,480,478 treasury shares in the Company. The sharesare purchased in accordance with the authorization granted at the company'sannual general meeting on 1 June 2023.

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