Otello Corporation ASA

SHARE BUY BACK PROGRAM

As a result of the successful IPO of Bemobi in Brazil and expected close of

Digital Turbines acquisition of AdColony, Otello Corporation ASA (the "Company")

will be in a significant net cash position. Otello plans to aggressively return

cash to shareholders with a view to distributing all excess cash to our owners.

The Board of Directors of Otello has thus decided to carry out a share buyback

program of up to 13,847,700 shares, corresponding to up to approximately 10% of

the issued shares in the Company. The shares purchased through the share buyback

program may be used for prospective reductions of the share capital and to

fulfill obligations under incentive schemes approved by the shareholders. The

share buyback program, which will be carried out in accordance with applicable

laws and regulations, may also include a tender offer to buy back shares. The

authorization will be effective from today, 7 April 2021 and ends at the latest

on the day of the Company's Annual General Meeting in 2021.

Information pertaining to the share buyback program and information on any

tender offer (if executed by the Company) will be disclosed by way of stock

exchange notices.

Petter Lade, CFO

Phone: +47 91143878

About Otello:

Otello holds shares in several different businesses, including (i) AdColony

which helps publishers monetize their content through advertising and

advertisers reach the audiences that build value for their businesses,

capitalizing on a global consumer audience reach that exceeds 2 billion; (ii)

Bemobi, a Mobile Media and Entertainment company which integrate people and

mobile content through technology and offers a leading subscription-based

discovery service for mobile apps in Latin America and beyond; (iii) Skyfire

which offers cloud-based network solutions for mobile operators and (iv) Vewd

which offers OTT services in the Connected TV space.

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