Otello Corporation ASA

Major Shareholding Notification • Sep 2, 2022

Disclosure of major shareholding in Otello Corporation ASA

Disclosure of major shareholding in Otello Corporation ASA

On 31 August 2022, KL Special Opportunities Master Fund Ltd, an investment fund managed by Kite Lake Capital Management (UK) LLP, purchased 1,199,592 shares in Otello Corporation ASA. Following that purchase, that fund and KL UCITS ICAV – KL Event Driven UCITS Fund, another investment fund managed by Kite Lake Capital Management (UK) LLP, together held 22,904,900 shares in Otello Corporation ASA, which represented 25.14% of the shares in the company (based on 91,099,729 outstanding shares). Their holding therefore exceeds 25% of the shares in the company as a result of the purchase. No shares are held by the funds in the form of rights to shares. The shares are held by custodians in accounts in the names of the funds.