Otello Corporation ASA

Update on Vewd litigation

We refer to the stock exchange announcement dated November 30, 2020.

MFC has not yet made such purchase and it has applied to the Court for an

extension for the time to do so to February 19, 2021.

MFC has been ordered to pay Otello's costs of this part of the proceedings

(having previously been ordered to pay and having paid the costs of the

liability stage). MFC was required to make a payment to Otello in the amount of

£1.25 million by December 31, 2020 on account of Otello's costs but has failed

to make such payment. If the total costs are not agreed, they will be assessed

and determined by the Court.

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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