Otello Corporation share buyback program status

11 Dec 2023 08:40 CET

Reference is made to the stock exchange notice from 20 June 2023 announcing a
share buyback program for Otello Corporation ASA (the Company). From 6 December
2023 through 8 December 2023, Pareto Securities AS has bought 18,048 shares on
the behalf of the Company at an average price of NOK 7,65 and a total value of
NOK 138,108. Since the initiation of the share buyback program a total of
3,121,325 shares at an average price of NOK 8,59 and a total value of NOK
26,818,770 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 3,121,325 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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606149_OTEC Handelsoversikt 08.12.pdf