Otello Corporation share buyback program status

01 Sep 2024 19:54 CEST

Reference is made to the stock exchange notice from 22 July 2024 announcing a
share buyback program for Otello Corporation ASA (the Company). From 26 August
2024 through 30 August 2024, Pareto Securities AS has bought 438,600 shares on
behalf of the Company at an average price of NOK 8.26 and a total value of NOK
3,621,488. Since the initiation of this share buyback program a total of
1,397,700 shares at an average price of NOK 8.00 and a total value of NOK
11,176,776 have been acquired. The maximum consideration to be paid for shares
acquired under this buyback program is NOK 15 per share and the maximum number
of shares that can be purchased under this buyback program is 4,554,986 shares
(5% of total outstanding shares). At present date, Otello owns 5,086,064
treasury shares in the Company (including those acquired under the previous
buyback program). The shares are purchased in accordance with the authorization
granted at the company's annual general meeting on 3 June 2024.

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626791_OTEC Transaksjonsoversikt6.pdf