Corporate information

Pursuant to the Norwegian Public Limited Liability Companies Act (the "PLLCA"), at least half of the members of the board of directors, as well as the CEO, must be a citizen of and residing in a country within the European Economic Area (the "Qualifying Persons"). As a consequence of the withdrawal of the United Kingdom from the European Union and the European Atomic Energy Community, persons who reside in or is a citizen of the United Kingdom will as from 1 January 2021 no longer be a Qualifying Person. This means that the composition of the board of directors of Otello Corporation ASA (the "Company") do not meet the requirement in the PLLCA. The Company has, however, obtained an exemption from the Ministry of Trade, Industry and Fisheries, meaning that the current board of directors will remain compliant with the residency and citizenship requirements of the PLLCA as from 1 January 2021.

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.