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 to reduce the Company’s share capital by way of cancellation of the Company’s own shares. Arepo AS currently owns 5,199,259 shares in the Company. Following the share cancellation, the ownership of Arepo AS in the Company has increased to 5.14%, thereby crossing the 5% disclosure threshold.