Otello Corporation ASA

Transaction in Own Shares • Sep 6, 2021

Completion of share buy back offer

Completion of share buy back offer

Reference is made to the notice issued on 30 August 2021, where Otello

Corporation ASA launched an offer to all shareholders to buy back up to

12,450,000 shares, through a book building process.

The Company has today bought 12,450,000 shares in the Company at a price of NOK

33.00 per share. Otello was offered 41,770,904 shares at the clearing price and

thus allocated approximately 29.8% to shareholders which tendered at NOK 33.00

and below.

Following the transaction, Otello Corporation ASA owns 12,450,000­­­ shares in

the Company.

The Board will call for an EGM and propose that the balance of treasury shares

to be cancelled and will simultaneously ask for a new mandate to buy back

shares.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com