Otello Corporation ASA

Remuneration Information • Mar 13, 2017

Grant of Options

Grant of Options

Reference is made to the calling notice as of today.

The Board of Directors of Opera Software ASA granted a total of 8,288,000

options, on 13 April, 2017, contingent on the approval of the proposed programs

by the shareholders.

In order to better align the interests of the senior management at adColony, the

Board of Directors proposes to cancel 1 690 000 restricted share units ("RSUs")

which have been granted to adColony's 10 most senior leaders and replace it with

a 3 year option program.

The 6,388,000 options that were granted have a strike price equal to the closing

share price today: NOK 38.50. The options vests annually over 3 years with 1/3

in March 2018, 1/3 in March 2019 and 1/3 in March 2020. Please refer to the

calling notice for further information.

In addition the Board of Directors is proposing a new options program for

employees in Opera Software ASA. This program is a continuation of earlier

programs and seeks to align the interest of the employees with the interest of

the shareholders. The 1,900,000 options granted have an initial strike price

equal to the closing share price today, NOK 38.50, and until the options vest,

the strike price shall increase by 4% on the day after each anniversary after

the grant. The options vest over 4 years with 1/4 in March 2018, 1/4 in March

2019, 1/4 in March 2020 and 1/4 in March 2021. Please refer to the calling

notice for further information.

The following primary insiders were granted options:

Will Kassoy, CEO adColony: 2,488,503 options which vest over 3 years and with a

strike price of NOK 38.50. After this grant, the employee holds 2,488,503

options, 9,000 RSUs, and 188,488 shares in Opera Software ASA.

Brian Kesterson, EVP Finance & Administration, adColony: 189,000 options which

vest over 3 years and with a strike price of NOK 38.50. After this grant, the

employee holds 189,000 options, 6,750 RSUs and 621 shares in Opera Software ASA.

Lars Boilesen, CEO, Opera Software ASA: 1,200,000 options which vest over 4

years with an initial strike price of NOK 38.50. After this grant, the employee

holds 1,200,000 options, 126,300 RSUs, and 164,146 shares in Opera Software

ASA.

Petter Lade, CFO, Opera Software ASA: 250,000 options which vest over 4 years

with an initial strike price of 38.50. After this grant, the employee holds

290,000 options and 40,400 shares in Opera Software ASA.

Roar Olbergsveen, CAO, Opera Software ASA: 200,000 options which vest over 4

years with an initial strike price of NOK 38.50. After this grant, the employee

holds 260,000 options and 248 shares in Opera Software ASA.

Jason Hoida, General Counsel, Opera Software ASA: 150,000 options which vest

over 4 years with an initial strike price of NOK 38.50. After this grant, the

employee holds 305,000 options and 5,000 shares in Opera Software ASA.

Thomas Bullen, VP FP&A, Opera Software ASA: 50,000 options which vest over 4

years with an initial strike price of NOK 38.50. After this grant, the employee

holds 50,000 options and 2,000 RSUs in Opera Software ASA.

Philip Tyman, VP Financial Reporting and Compliance, Opera Software ASA: 50,000

options which vest over 4 years with an initial strike price of NOK 38.50. After

this grant, the employee holds 50,000 options and 200 shares in Opera Software

ASA.

Jørgen Jordet, VP Accounting and Consolidation, Opera Software ASA: 50,000

options which vests over 4 years with an initial strike price of NOK 38.50.

After this grant, the employee holds 50,000 options and 400 shares in Opera

Software ASA.

Petter Lade, CFO

Tel: +47 911 43 878

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.