Otello Corporation ASA

Request for extraordinary general meeting

The Company has received from Sand Grove Capital Management LLP, acting as

Investment Manager to Sand Grove Opportunities Master Fund Ltd and Sand Grove

Tactical Fund LP, a request to convene and hold an extraordinary general meeting

in order to discuss a new composition of the board of directors and the

Nomination Committee. The proposal is attached hereto. It should be noted that

none of the existing members of the board of directors and Nomination Committee

have offered their resignations.

The board of directors will call for an extraordinary general meeting to be

held in accordance with the provisions of the Public Limited Liability Companies

Act.

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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