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 13 May 2024 through 16 May 2024, Pareto Securities AS has bought 45,610 shares on behalf of the Company at an average price of NOK 7.72 and a total value of NOK 352,177. Since the initiation of the share buyback program a total of 3,601,570 shares at an average price of NOK 8.51 and a total value of NOK 30,638,174 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 3,601,570 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.