Initiation of Share Buyback Program

16 Jun 2025 08:00 CEST

The Board of Directors (the "Board") of Otello Corporation ASA (the "Company")
has decided to initiate a share buyback program by utilizing the authorization
as granted by the 2025 Annual General Meeting (AGM). Transactions will be
carried out by market purchases in accordance with applicable laws and be
executed based on the market price on the Oslo Stock Exchange. The maximum
consideration to be paid for shares acquired under the buyback program is NOK 15
per share. The maximum number of shares that can be purchased under the new
authorization is 8,198,950 shares. However, the Company cannot any time hold
treasury shares which in the aggregate represents more than 10% of the entire
share capital of the Company. As the Company currently holds 3,151,820 treasury
shares, the new buyback program is for a maximum of 5,047,130 shares. The
program will be initiated as from today and expire no later than at the 2026
AGM.

Otello is entering into a non-discretionary agreement with a third party who
will make its trading decisions independently of, and uninfluenced by, Otello.
Transactions will be conducted in accordance with the Market Abuse Regulation
(EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052
("Safe Harbour Regulation") as further set out i.a. in the Norwegian Securities
Trading Act of 2007 and the Oslo Stock Exchange's Guidelines for buy-back
programs and price stabilization dated February 2021. Transactions will be
reported on a weekly basis.

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