Otello Corporation ASA

Share Issue/Capital Change • Aug 2, 2021

Registration of share capital reduction

Registration of share capital reduction

Reference is made to the resolution by the annual general meeting on 2 June 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 2 494 994,54 and the total share

count is 124 749 727, each having a par value of NOK 0,02.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com