Resolution to reduce share capital

25 Feb 2025 23:56 CET

On 25 February 2025, the board of directors of Otello Corporation ASA (the
"Company") passed a resolution to reduce the Company's share capital by NOK
182,199, through redemption of in total 9,109,950 treasury shares. The
resolution was carried out in accordance with the board authorization set out in
clause 7 of the Company's articles of association, cf. section 12-7 of the
Norwegian Public Limited Liability Companies Act. Following registration of the
share capital reduction, the new share capital will be NOK 1,639,795.58 divided
into 81,989,779 shares, each having a face value of NOK 0.02.

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