Reference is made to the stock exchange notice from 20 June 2023 announcing a
share buyback program for Otello Corporation ASA (the Company). From 27 December
2023 through 29 December 2023, Pareto Securities AS has bought 11,309 shares on
behalf of the Company at an average price of NOK 8,10 and a total value of NOK
91,630. Since the initiation of the share buyback program a total of 3,180,027
shares at an average price of NOK 8,58 and a total value of NOK 27,290,898 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 3,180,027 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.