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Otello Corporation ASA

Transaction in Own Shares • Jul 28, 2024

3704_rns_2024-07-28_eb860d47-ef3e-46ae-865e-2ecc5a19a8fd.html

Transaction in Own Shares

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Otello Corporation share buyback program status

Reference is made to the stock exchange notice from 22 July 2024 announcing a share buyback program for Otello Corporation ASA (the Company). From 22 July 2024 through 26 July 2024, Pareto Securities AS has bought 56,000 shares on behalf of the Company at an average price of NOK 7.90 and a total value of NOK 442,353. Since the initiation of the share buyback program a total of 56,000 shares at an average price of NOK 7.90 and a total value of NOK 442,353 have been acquired. 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 4,554,986 shares (5% of total outstanding shares). At present date, Otello owns 3,744,364 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.