Otello Corporation ASA

Major Shareholding Notification • Mar 7, 2019

Disclosure of Large Shareholding crossing

Disclosure of Large Shareholding crossing

1. name of the person subject to the notification requirement, - Kite Lake Capital Management (UK) LLP

2. background for the notification, - Crossing above 5% holding threshold

3. name of the issuer, Otello Corp ASA

4. description of the financial instrument - Equity

5. type of transaction, - Purchase

6. timing of and market for the transaction, 06 March 2019

7. price and volume of the transaction, and +76,807 @ 14.0059

8. holding after the transaction. 7,031,920 shares (5.01%)