Commitment to Sound Corporate Governance 

Otello strongly believes that strong shareholder rights create higher firm value. As such, Corporate Governance is not just an empty phrase at Otello Corporation ASA, but a real tool used in bridging the gap between management and shareholders, ensuring good corporate ethical behavior.

Otello is committed to maintaining high standards of corporate governance. Otello's Board of Directors has defined a set of Principles of Corporate Governance. These principles have been developed in light of the provisional Norwegian Code of Practice for Corporate Governance. They are published in the Annual Reports.

Otello views the development of high standards of corporate governance as a continuous process and will continue to focus on improving the level of corporate governance.

Otello is hardwired to a set of values that guides the way we develop our products, as well as interact with our customers, partners, and investors.

A key concept in Otello's approach to corporate governance is the equal treatment of shareholders. All shares in the company carry equal voting rights and are freely transferable. The shareholders exercise the highest authority in the company through the General Meeting. All shareholders are entitled to submit items to the agenda, meet, speak, and vote at the General Meeting.

In order to clearly define the tasks and responsibilities of its Board of Directors and the Chief Executive Officer, Otello has adopted Rules of Procedure for its Board of Directors and written Instructions for its Chief Executive Officer.

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