Otello Corporation ASA

Share Issue/Capital Change • Nov 24, 2021

Registration of share capital reduction

Registration of share capital reduction

Reference is made to the resolution by the general meeting on 30 September 2021

where a resolution was passed to reduce the Company's share capital by

cancellation of treasury shares. The share capital reduction has now been

registered with the Norwegian Register of Business Enterprises, and the new

registered share capital of the Company is NOK 2,245,994.54, and the total share

count is 112,299,727 each having a par value of NOK 0.02.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com