Reference is made to the stock exchange notice from 20 June 2023 announcing a
share buyback program for Otello Corporation ASA (the Company). From 31 July
2023 through 4 August 2023, Pareto Securities AS has bought 331,443 shares on
the behalf of the Company at an average price of NOK 9,33 and a total value of
NOK 3,091,438. Since the initiation of the share buyback program a total of
2,089,550 shares at an average price of NOK 8,81 and a total value of NOK
18,402,026 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 2,089,550 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. 

Petter Lade, CFO 
Phone: +47 91143878 
E-mail: petterl@otellocorp.com