Otello Corporation share buyback program status

25 Sep 2023 08:30 CEST

Reference is made to the stock exchange notice from 20 June 2023 announcing a
share buyback program for Otello Corporation ASA (the Company). From 18
September 2023 through 22 September 2023, Pareto Securities AS has bought 32,753
shares on the behalf of the Company at an average price of NOK 8,19 and a total
value of NOK 268,176. Since the initiation of the share buyback program a total
of 2,554,784 shares at an average price of NOK 8,78 and a total value of NOK
22,438,570 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 2,554,784 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

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600176_OTEC Handelsoversikt 22.09.pdf