Board approval of the 2019 annual financial statements

The Board of Directors of Otello Corporation ASA has approved the consolidated financial statements, the parent company's financial statements and the Board of Directors' report for 2019. There are no material changes compared with the Q4 2019 report released on February 27, 2020. The Board will propose to the Annual General Meeting, to be held on June 2, 2020, that no dividend for 2019 be paid out.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com

About Otello:

Otello holds shares in several different businesses, including (i) AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 2 billion; (ii) Bemobi, a Mobile Media and Entertainment company which integrate people and mobile content through technology and offers a leading subscription-based discovery service for mobile apps in Latin America and beyond; (iii) Skyfire which offers cloud-based network solutions for mobile operators and (iv) Vewd which offers OTT services in the Connected TV space.