Otello Corporation ASA

Board/Management Information • Dec 5, 2016

Nomination Committee's proposals for extraordinary general meeting

Nomination Committee's proposals for extraordinary general meeting

The Nomination Committee and the Opera Board of Directors recommend that the

General Meeting approve the amendment to the Company's articles of association

to allow for 3-8 directors on the Board. Now that the Consumer Business has been

spun off, the Company is a holding company for business units primarily with

their activities outside of Norway, and in the Nomination Committee's and

Board's opinion a smaller Board will be in the Company's and the Shareholders'

best interests.

The Nomination Committee of Opera Software ASA ("Opera") hereby presents its

proposals for the extraordinary general meeting to be held on 15 December 2016.

First, the Nomination Committee presents two alternative proposals for board

election. Should the proposal to amend Opera's articles of association to allow

for 3-8 directors be approved, the Nomination Committee proposes three

shareholder elected directors. In the event the proposed amendment to the

articles of association is not approved, the Nomination Committee proposes five

shareholder elected directors.

Second, the Nomination Committee puts forward proposal for director

remuneration.

Petter Lade, Investor Relations

Tel: +47 2369 2400