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Otello Corporation ASA

Transaction in Own Shares • May 5, 2024

3704_rns_2024-05-05_ead570de-f089-43a6-aa3b-569cde59f2a3.html

Transaction in Own Shares

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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 29 April 2024 through 3 May 2024, Pareto Securities AS has bought 34,755 shares on behalf of the Company at an average price of NOK 7.83 and a total value of NOK 272,110. Since the initiation of the share buyback program a total of 3,515,233 shares at an average price of NOK 8.53 and a total value of NOK 29,970,258 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 3,515,233 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.