Otello Corporation ASA

Annual / Quarterly Financial Statement • Apr 30, 2017

Approval of annual accounts and Board of Director's report for 2016

Approval of annual accounts and Board of Director's report for 2016

The Board of Directors of Opera Software ASA has approved the

consolidated financial statements, the parent company's financial statements and

the Board of Directors' report for 2016.

The following changes have been made compared with the Q4 2016 report released

on February 28, 2017:

In the Consolidated statement of comprehensive income, Profit (loss) from

Discontinued operations has been increased by USD 22.5 million due to a

reclassification from foreign currency translation differences from Discontinued

operations. There is no change in Total comprehensive income (loss).

In the Consolidated statement of financial position, Assets and Liabilities have

both been decreased by USD 8.6 million due to a reclassification between taxes

payable and other receivables.

The Board will propose to the Annual General Meeting, to be held on June 2,

2017, that no dividend for 2016 be paid out.

Please find the Annual Report 2016 enclosed. These documents are also available

on www.opera.com and http://coxit.net/opera/annualreport/

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@opera.com

About Opera:

Opera holds shares in several different businesses, including 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 1 billion; Opera Apps and

Games(Bemobi); "Performance & Privacy" (Skyfire and Surfeasy); and Opera TV.