Otello Corporation ASA – Notification of major shareholder

Reference is being made to the announcement regarding the share capital reduction made by Otello Corporation ASA (the “Company”) today following the Annual General Meeting’s resolution on June 5th, 2018 to reduce the Company’s share capital by way of cancellation of the Company’s own shares. Arepo AS currently owns 7,437,120 shares in the Company. Following the share cancellation, the ownership of Arepo AS in the Company has increased to 5.29%, thereby crossing the 5% disclosure threshold.