Reference is made to the stock exchange notice from 22 July 2024 announcing a
share buyback program for Otello Corporation ASA (the Company). From 12 August
2024 through 16 August 2024, Pareto Securities AS has bought 303,300 shares on
behalf of the Company at an average price of NOK 7.86 and a total value of NOK
2,384,231. Since the initiation of this share buyback program a total of 557,500
shares at an average price of NOK 7.83 and a total value of NOK 4,366,294 have
been acquired. The maximum consideration to be paid for shares acquired under
this 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 4,245,864 treasury shares in the Company. The shares
are purchased in accordance with the authorization granted at the company's
annual general meeting on 3 June 2024.