Otello Corporation ASA

Transaction in Own Shares • May 10, 2021

Otello Corporation ASA: Completion of share buy back offer

Otello Corporation ASA: Completion of share buy back offer

Reference is made to the notice issued on 3 May 2021, where Otello Corporation

ASA launched an offer to all shareholders to buy back up to 12,000,000 shares,

through a bookbuilding process. The Company has today bought 12,000,000 shares

in the Company at a price of NOK 33.75 per share. Otello was offered 13,816,413

shares at the clearing price and thus allocated approximately 86.9% to

shareholders which tendered at 33.75kr and below. After the transaction, Otello

Corporation ASA owns 13,727,702 shares in the Company.

The Board will propose that the balance of treasury shares to be cancelled at

the AGM on June 2, and will simultaneously ask for a new mandate to buy back

shares.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com