Reference is made to the stock exchange notice from 7 April 2025 announcing the
initiation of the share buyback program for Otello Corporation ASA (the
Company). From 12 May 2025 through 16 May 2025, Pareto Securities AS has bought
379,500 shares on behalf of the Company at an average price of NOK 10.79 and a
total value of NOK 4,095,400. Since the initiation of this share buyback program
a total of 2,729,720 shares at an average price of NOK 9.36 and a total value of
NOK 25,549,082 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 3,688,364
(being the maximum remaining number of outstanding shares that can be purchased
under the existing authorization). At present date, Otello owns 2,729,720
treasury shares in the Company. The shares are purchased in accordance with the
authorization granted at the company's annual general meeting on 3 June 2024.