Automatic exercise of options – Mandatory notification of trade

Reference is made to the announcement on November 1, 2020 where the Board of Directors of Otello Corporation ASA (the "Company") granted a total of 3,450,000 options in the Company (the "Options"), which replaced existing option and incentive programs. The Options were granted with a strike price of 18.99kr based on volume weighed averaged trading price of the Company's shares 5 trading days after the date of grant.

As noted in the grant letter and stock announcement, a market standard change of control provision applied. Due to the successful IPO of Bemobi in Brazil and the completion of AdColony acquisition by Digital Turbine, a change of control has been deemed to have occurred. The Board of Otello has elected to settle the options in cash based on a volume weighted price 5 days prior and 5 days after the completion of AdColony Acquisition by Digital Turbine, which was 33.02kr

CEO, Lars Boilesen has been required to exercise 2,250,000 options with a strike price of 18.99kr at an exercise price of 33.02kr. After this transaction, Lars Boilesen holds 259,980 shares and no options in the Company.

CFO, Petter Lade has been required to exercise 400,000 options with a strike price of 18.99kr at an exercise price of 33.02kr. After this transaction, Petter Lade holds 66,255 shares and no options in the Company.

CAO, Roar Olbergsveen has been required to exercise 400,000 options with a strike price of 18.99kr at an exercise price of 33.02kr. After this transaction, Roar Olbergsveen holds 248 shares and no options in the Company.

General Counsel, Jason Hoida has been required to exercise 400,000 options with a strike price of 18.99kr at an exercise price of 33.02kr. After this transaction Jason Arthur Hoida holds 11,599 shares and no options in the Company.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com