Otello Corporation ASA

Transaction in Own Shares • Jul 10, 2023

Otello Corporation share buyback program status

Otello Corporation share buyback program status

Reference is made to the stock exchange notices from 20 June 2023 announcing a share buyback program for Otello Corporation ASA (the Company). From 3 July 2023 through 7 July 2023, Pareto Securities AS has bought 286,627 shares on the behalf of the Company at an average price of NOK 8,23 and a total value of NOK 2,359,639. Sine the initiation of the share buyback program a total of 568,356 shares at an average price of NOK 8,21 and a total value of NOK 4,666,969 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 568,356 treasury shares in the Company. The shares are purchased in accordance with the authorization granted at the company's annual general meeting on 1 June 2023.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com