Otello Corporation ASA

Board/Management Information • Mar 29, 2019

Audun Iversen will not stand for re-election as Chairman of the Board at the Annual General Meeting 2019

Audun Iversen will not stand for re-election as Chairman of the Board at the Annual General Meeting 2019

The current chairman of the Board, Audun W. Iversen, has informed the Company that he will not stand for re-election at the upcoming Annual General Meeting ("AGM") since he has accepted a new employment position which cannot be combined with board positions. Iversen will continue as chairman up to the AGM, after which the elected board members will elect a new chairperson. The Nomination Committee is working on its recommendations for board positions and will present its proposal before the AGM.

Nils Foldal, Chairman of the Nomination Committee, said “On behalf of the Nomination Committee, I want to thank Audun Iversen for his more than 10 years of service on the Board of Otello Corporation and Opera Software ASA. We, and the Company, wish him the best of luck in his new endeavors.”

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com

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.