Financing of employee stock incentive programs

Oslo, Norway June 6, 2012. Opera Software ASA (the “Company”) refers to the Annual General Meeting (“AGM”) held yesterday. At the AGM, the shareholders approved to renew the authorizations to the Board of Directors to buy back own shares and to issue new shares as part of the Company’s employee stock incentive programs. The current employee stock incentive program consists of the option program as approved by the Annual General Meeting in 2011, and comprises a maximum grant of 11,950,000 options during 2011 - 2014.

In order to finance the stock incentive programs following exercise of options, the Board of Directors may buy back shares or approve to issue new shares, or decide to utilize a combination thereof, all in accordance with the authorizations as approved yesterday. Any buy back of shares or issuance of new shares pursuant to the authorizations may take place in the period as from the authorizations have been registered with the Norwegian Register of Business Enterprises and up and until 30 June 2013. The authorizations as approved at the Annual General Meeting in 2011 will remain in force until the earliest of the registration of the new authorizations and 30 June 2012. The Company currently owns 792 452 treasury shares. The Company has 119,574,782 shares outstanding.

Petter Lade, Investor Relations
Tel: +47 2369 3444

Opera Software ASA has redefined Web browsing for PCs, mobile phones and other networked devices. Opera's cross-platform Web browser technology is renowned for its performance, standards compliance and small size, while giving users a faster, safer and more dynamic online experience. Opera Software is headquartered in Oslo, Norway, with offices around the world. The company is listed on the Oslo Stock Exchange under the ticker symbol OPERA. Learn more about Opera at http://www.opera.com.