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 6 January 2025 through 10 January 2025, Pareto Securities AS has bought 354,639 shares on behalf of the Company at an average price of NOK 7.79 and a total value of NOK 2,764,001. Since the initiation of this share buyback program a total of 4,288,102 shares at an average price of NOK 7.97 and a total value of NOK 34,189,994 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 7,976,466 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.