Share Buyback Program

22 Sep 2025 07:00 CEST

The Board of Directors (the "Board") of Otello Corporation ASA (the "Company")
has decided to initiate a buyback program utilizing the authorization as granted
by the 2025 Extraordinary General Meeting (EGM) on September 15, 2025.
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 and the maximum number of shares that can be
purchased is 5% of the Company’s outstanding shares, 3,689,541 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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