Annual report 2025

We refer to the Company’s stock exchange announcements of April 30, 2026.

The Board of Directors of Otello Corporation ASA has approved the annual accounts for 2025.

The report is attached as a pdf file and in European Single Electronic Format (ESEF). The documents will also be made available on https://www.otellocorp.com/ir.

Compared with the 2H 2025 financial statements, the following main changes have been made to the 2025 annual report

1. Reallocation of the gain on disposal of patents, which has been moved to “other income” instead of being recorded under “other net financial items”. There is no change to the actual gain included.

2. Reduction in option costs due to a change in modelling assumptions in the valuation of the options, leading to a profit improvement of USD 1.2M.

3. Reduction in option costs due to allocating the cost over 3 years (consistent with the 3-year valuation modelling and on the basis that none of the options have vested), with a profit improvement of USD 2.9M.

4. Change in the recognition of distributions received by the Company from Bemobi to the date of entitlement (instead of receipt) and on a gross basis along with a tax expense for any tax amounts withheld (instead of a net basis), leading to a profit reduction of USD 5.2M.

5. Revaluation of the fair value of the Company’s investments in Life360 and Alliance Venture Spring, leading to a profit improvement of 3.5M.

The Company has also recognized the normal adjustment to reflect Bemobi’s actual Q4 results, which could only be estimated at the time of releasing the Company’s 2H 2025 results.

In total, the changes represent a net change in profit after tax for 2025 of USD 3.0M.