The Board has received a notice of resignation from board member Maria Borge
Andreassen. The reason for the resignation is that Borge Andreassen will take up
a new position which, according to the rules of the new employer, is not
compatible with continuing as director of Otello. She will resign effectively
from 1 May 2023 and a replacement candidate will be presented by the Nomination
Committee to the annual general meeting. Chairman Andre Christensen said: "
Maria has been a valuable member of the Otello board for the last few years. We
are thankful for her contributions and wish her the best in her new role."

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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