Sand Grove Capital Management LLP - Large Shareholder Disclosure

21 Nov 2025 08:17 CET

On the 20th November 2025, Sand Grove Capital Management LLP, through Sand Grove
Opportunities AS, the Prelude Structured Alternatives Master Fund LP and the
Amundi Sand Grove Event Driven Fund, owns 8,193,278 Otello Corporation ASA
shares, which is equivalent to 11.103% of the total shares outstanding
(previously 9.879% disclosed on the 13th March 2025). The disclosure obligation
occurred following a reduction in the total shares outstanding as a result of
Otello’s redemption of treasury shares, which came into effect on the 20th
November 2025.

Sand Grove Capital Management LLP has full voting discretion over 8,100,000
shares of this holding. 93,278 shares are held on swap.

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