Otello Corporation ASA

Transaction in Own Shares • Sep 18, 2023

Otello Corporation share buyback program status

Otello Corporation share buyback program status

Reference is made to the stock exchange notice from 20 June 2023 announcing a share buyback program for Otello Corporation ASA (the Company). From 11 September 2023 through 15 September 2023, Pareto Securities AS has bought 15,957 shares on the behalf of the Company at an average price of NOK 8,26 and a total value of NOK 131,731. Since the initiation of the share buyback program a total of 2,522,031 shares at an average price of NOK 8,79 and a total value of NOK 22,170,394 have been acquired. The maximum consideration to be paid for shares acquired under the buyback program is NOK 15 per share and the maximum number of shares that can be purchased is 4,554,986 shares (5% of total outstanding shares). At present date, Otello owns 2,522,031 treasury shares in the Company. The shares are purchased in accordance with the authorization granted at the company's annual general meeting on 1 June 2023.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com