Otello Corporation share buyback program status

Reference is made to the stock exchange notice from 22 July 2024 announcing a share buyback program for Otello Corporation ASA (the Company). From 28 October 2024 through 1 November 2024, Pareto Securities AS has bought 50,000 shares on behalf of the Company at an average price of NOK 7.94 and a total value of NOK 397,196. Since the initiation of this share buyback program a total of 2,835,832 shares at an average price of NOK 8.10 and a total value of NOK 22,973,878 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 under this buyback program is 4,554,986 shares (5% of total outstanding shares). At present date, Otello owns 6,524,196 treasury shares in the Company (including those acquired under the previous buyback program). The shares are purchased in accordance with the authorization granted at the company's annual general meeting on 3 June 2024.