Opera Limited (NASDAQ:OPRA) Q3 2022 Results Earnings Conference Call October 27, 2022 8:00 AM ET Company Participants Matthew Wolfson - Head of Investor Relations Lin Song - Co-Chief Executive Officer Frode Jacobsen - Chief Financial Officer Conference Call Participants Lance Vitanza - Cowen and Company Alicia Yap - Citigroup Mark Argento - Lake Street Capital Operator Welcome to the Opera Limited Third Quarter 2022 Earnings Call. At this time, all participants are in a listenonly mode. After the speakers' ...

Exhibit 99.1 Opera Reports Record Third Quarter 2022 Results Revenue and adjusted EBITDA both exceeded prior guidance ranges, with gaming browser GX key driver of high ARPU users in the Americas and Europe Q3 revenue grew 28% year-over-year, with adjusted EBITDA margin reaching 25% in the quarter Company announced a major repurchase of 23.4 million ADS equivalents that closed in October, in addition to 0.9 million ADSs repurchased in the market during Q3 For the full year of 2022, Opera expects revenue of $ ...

Financial Data and Key Metrics Changes - The company reported record revenue of $77.8 million, representing a 29% year-over-year growth, exceeding previous guidance of $71 million to $74 million [32] - Adjusted EBITDA reached $16.6 million, significantly above the guidance range of $8 million to $12 million, resulting in a margin of 21% [34] - The company raised its full-year revenue guidance to $313 million to $319 million, indicating a 26% year-over-year growth at the midpoint [40] Business Line Data and Key Metrics Changes - Revenue from advertising grew to represent 55% of overall revenue, with a year-over-year growth of 49% compared to the same quarter in 2021 [16] - The Opera GX browser achieved 14.5 million desktop users and 2.5 million mobile users, with a year-over-year user growth of 78% [27] - The annualized ARPU from browsers and Opera News increased over 80%, contributing to over 70% revenue growth from the user base [11] Market Data and Key Metrics Changes - The company noted a significant increase in user resources in Europe (over 100%) and the Americas (nearly 70%), while user base in Asia was reduced [10] - Eastern Europe showed resilience, contributing to better-than-expected revenue performance [32] Company Strategy and Development Direction - The company focuses on improving the quality and value of its user base, investing in products and markets that allow for higher monetization rates [10] - A segmentation strategy is employed to meet specific audience needs, allowing Opera to compete effectively in various markets [12] - The company is exploring new segments and products, particularly in Western markets, to drive additional adoption [26] Management's Comments on Operating Environment and Future Outlook - Management remains cautious about the broader economic environment but believes that being a smaller player allows for growth independent of total market trends [45] - The company is optimistic about its growth trajectory, with strong performance in advertising and user engagement [17] Other Important Information - The company divested its equity stakes in Nanobank and StarMaker, with proceeds expected to enhance its focus on core business [35][36] - A buyback program is in place, with 1.26 million ADSs repurchased for $6.7 million during the second quarter [38] Q&A Session Summary Question: What drives the divergence of business performance versus macro conditions? - Management indicated that being a smaller player allows for growth independent of total market trends, contributing to better-than-expected performance [45] Question: Any impact from the end of remote learning on the gaming business? - Management noted that gamer patterns are more affected by school schedules than pandemic-related changes, with continuous growth observed [46] Question: Insights on lower marketing spend relative to strong growth in North America? - Management explained that smarter resource allocation led to higher ROI, and marketing spend was adjusted based on expected returns [51][52] Question: Impact of exposure to Russia and Ukraine on future performance? - Management acknowledged a $4 million headwind per quarter but noted that the actual impact was less than expected, leading to improved revenue outlook [59][60] Question: Thoughts on revenue per MAU trends? - Management highlighted strong ARPU growth driven by geographic mix and monetization strategies, indicating a positive outlook for future quarters [62] Question: Capital allocation and potential for more aggressive buyback strategies? - Management confirmed that buyback programs are limited by trading volume but has not made decisions on more aggressive actions [65]

Opera Limited (NASDAQ:OPRA) Q1 2022 Earnings Conference Call April 28, 2022 8:00 AM ET Company Participants Song Lin – Co-Chief Executive Officer Matt Wolfson – Head of Investor Relations Frode Jacobsen – Chief Financial Officer Conference Call Participants Lance Vitanza – Cowen Mark Argento – Lake Street Alicia Yap – Citigroup Operator Welcome to the Opera Limited First Quarter, 2022, Earnings Call. At this time, all participants are in a listenonly mode. After the speakers' presentation, there will be a q ...

[Executive Summary & Q1 2022 Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Q1%202022%20Highlights) Opera achieved strong Q1 2022 financial results, exceeding revenue and adjusted EBITDA expectations, despite reporting a net loss and facing European geopolitical challenges [Q1 2022 Financial Highlights](index=1&type=section&id=Q1%202022%20Financial%20Highlights) Opera achieved strong financial performance in Q1 2022, with revenue and adjusted EBITDA exceeding expectations, as revenue grew 38.8% YoY to $71.58 million, adjusted EBITDA increased 60.6% to $7.35 million, but the company recorded a net loss of $9.44 million | Metric | Three Months Ended March 31, 2021 (USD thousands) | Three Months Ended March 31, 2022 (USD thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 51,583 | 71,583 | 38.8% | | Net Income (Loss) | 639 | (9,436) | n.m. | | Net Income Margin | 1.2% | (13.2)% | | | Adjusted EBITDA | 4,576 | 7,349 | 60.6% | | Adjusted EBITDA Margin | 8.9% | 10.3% | | | Adjusted Net Income (Loss) | 4,607 | (6,362) | n.m. | | Adjusted Net Income Margin | 8.9% | (8.9)% | | | Diluted Earnings per ADS (USD) | 0.01 | (0.08) | n.m. | | Diluted Adjusted Net Earnings (Loss) per ADS (USD) | 0.04 | (0.05) | n.m. | [Management Commentary](index=1&type=section&id=Management%20Commentary) Management expressed satisfaction with Q1 2022 performance, with product mix and monetization exceeding expectations, and business tailwinds offsetting the monetary impact of the European situation while driving user growth in Western and emerging markets - Co-CEO Song Lin stated that Opera had a strong start to 2022, with product mix, monetization, and financial results exceeding expectations, driven by increased product adoption in Western markets and a significant monetizable user base in emerging markets[3](index=3&type=chunk) - Co-CEO Song Lin noted that despite the severe European situation, business tailwinds offset the monetary impact of the war[4](index=4&type=chunk) [Business Performance & Outlook](index=2&type=section&id=Business%20Performance%20%26%20Outlook) Opera reported strong Q1 business performance, driven by core revenue growth, user expansion, new product launches, strategic asset sales, and an upward revision of its full-year financial outlook [First Quarter and Recent Business Highlights](index=2&type=section&id=First%20quarter%20and%20recent%20business%20highlights) Opera achieved strong core search and advertising revenue growth in Q1, with its user base shifting towards high-ARPU markets, continued growth in Opera GX gaming browser users, and the launch of a Web3 browser beta, alongside significant cash proceeds from minority stake sales and a share repurchase program - Core search and advertising revenue increased by **41% year-over-year**, primarily driven by ARPU trends across browser and news user bases and advertising demand on the Opera Ads platform[8](index=8&type=chunk) - Average monthly active users (MAU) reached **339 million**, with user growth mainly concentrated in the Americas, including **15% growth in North America** and **10% in South America**, as the company continues to invest in monetizable users in emerging markets[8](index=8&type=chunk) - Opera GX gaming browser surpassed **16 million monthly active users** across PC and mobile, representing a **14% quarter-over-quarter increase**[8](index=8&type=chunk) - The company launched the **Opera Web3 browser beta** and announced Opera Wallet support for most major blockchain ecosystems[8](index=8&type=chunk) - The company received **$211 million in cash proceeds** from the sale of minority stakes in Nanobank and Star X, holding **$182 million in cash and marketable securities**[8](index=8&type=chunk) - **569,000 ADS were repurchased** during the quarter for a total of **$3 million**, with **$47 million remaining** under the existing repurchase authorization[8](index=8&type=chunk) [Business Outlook](index=2&type=section&id=Business%20outlook) Opera raised its full-year 2022 revenue and adjusted EBITDA guidance, projecting revenue of $300 million to $310 million, a 22% YoY increase, and adjusted EBITDA of $50 million to $60 million, with an 18% margin, while Q2 revenue is expected to be $71 million to $74 million and adjusted EBITDA $8 million to $12 million - CFO Frode Jacobsen stated that Q1 revenue and adjusted EBITDA exceeded the upper end of guidance due to stronger-than-expected core revenue, and the full-year guidance was maintained[6](index=6&type=chunk) - The strong performance of the company's underlying business offset the anticipated revenue decline from Russia, Belarus, and Ukraine, which previously accounted for approximately **10% of the company's revenue**[6](index=6&type=chunk) Full-Year and Q2 2022 Performance Guidance | Metric | Full-Year 2022 Guidance | Q2 2022 Guidance | | :--- | :--- | :--- | | Revenue | 300 - 310 million USD (22% YoY growth at midpoint) | 71 - 74 million USD (21% YoY growth at midpoint) | | Adjusted EBITDA | 50 - 60 million USD (18% margin at midpoint) | 8 - 12 million USD (14% margin at midpoint) | [Strategic Divestments & Investments](index=3&type=section&id=Strategic%20Divestments%20%26%20Investments) Opera strategically divested minority stakes in Nanobank and Star X, generating substantial cash proceeds, while retaining its investment in OPay [Other Updates](index=3&type=section&id=Other%20updates) Opera sold a 42.35% stake in Nanobank for $127.1 million in Q1 and a 19.35% stake in Star X for $83.5 million after the quarter, with these divestments totaling $211 million in cash proceeds, while the company still holds a 6.44% stake in OPay, classified as an asset held for sale - A **42.35% stake in Nanobank was sold in Q1** for **$127.1 million**, payable in eight equal quarterly installments, realizing a **gain of $16.5 million**[9](index=9&type=chunk) - A **19.35% stake in Star X was sold after the quarter** for **$83.5 million**, payable in three installments, resulting in a **return on investment of $53.5 million**[10](index=10&type=chunk) - These two divestments will collectively generate **$211 million in cash proceeds** for Opera (approximately **$215 million including interest**), with **$76 million received in 2022**, **$93 million in 2023**, and **$46 million in 2024**[11](index=11&type=chunk) - The company continues to hold a **6.44% stake in OPay**, which has been classified as an asset held for sale on the balance sheet[12](index=12&type=chunk) [Consolidated Financial Results (Q1 2022)](index=3&type=section&id=Consolidated%20Financial%20Results%20(Q1%202022)) Opera's Q1 2022 consolidated financial results show a 39% revenue increase, a shift to operating profit, but a net loss primarily due to financial expenses, with adjusted EBITDA growing 60.6% [Revenue Performance](index=3&type=section&id=Revenue%20Performance) Opera's Q1 revenue grew 39% year-over-year to $71.6 million, with search revenue increasing 20% to $32 million and advertising revenue growing 64% to $38.5 million, driven by PC and mobile browser monetization and the Opera Ads platform - Total revenue increased by **39% year-over-year** to **$71.6 million**[14](index=14&type=chunk) Q1 2022 Revenue Composition | Revenue Category | Amount (USD millions) | YoY Growth (%) | | :--- | :--- | :--- | | Search Revenue | 32.0 | 20% | | Advertising Revenue | 38.5 | 64% | | Technology Licensing and Other Revenue | 1.1 | - | [Operating Expenses and Profitability](index=4&type=section&id=Operating%20Expenses%20and%20Profitability) Q1 operating expenses increased 33% to $70.4 million, resulting in an operating profit of $1.3 million, reversing an operating loss from the prior year, though a significant increase in financial expenses due to marketable securities valuation fluctuations led to a net loss - Operating expenses increased by **33% year-over-year** to **$70.4 million**[15](index=15&type=chunk) - Operating profit was **$1.3 million**, compared to an operating loss of **$1.5 million** in the prior year period[16](index=16&type=chunk) - Financial expenses totaled **$9.9 million**, primarily related to fluctuations in the value of marketable securities[16](index=16&type=chunk) Q1 2022 Operating Expense Breakdown | Expense Category | Amount (USD millions) | YoY Change (%) | | :--- | :--- | :--- | | Technology and Platform Fees, Content Costs, and Cost of Goods Sold | 8.0 | Increased (11% of revenue vs 4% last year) | | Personnel Expenses (including share-based remuneration) | 16.4 | Decreased 4% | | Marketing and Distribution Expenses | 34.1 | Increased 46% | | Depreciation and Amortization Expenses | 3.6 | Decreased 29% | | All Other Operating Expenses | 8.2 | Increased 51% | [Net Income and EPS](index=4&type=section&id=Net%20Income%20and%20EPS) The company reported a Q1 net loss of $9.4 million, compared to a net income of $0.6 million in the prior year period, with diluted loss per ADS at $0.08 - Net loss was **$9.4 million**, compared to a net income of **$0.6 million** in the prior year period[18](index=18&type=chunk) - Diluted loss per ADS was **$0.08**[18](index=18&type=chunk) [Non-IFRS Financial Measures (Adjusted EBITDA & Net Income)](index=4&type=section&id=Non-IFRS%20Financial%20Measures%20(Adjusted%20EBITDA%20%26%20Net%20Income)) Adjusted EBITDA was $7.3 million, with a 10% margin, representing a 60.6% year-over-year increase, while adjusted net loss was $6.4 million, compared to an adjusted net income of $4.6 million in the prior year, and adjusted net loss per ADS was $0.05 - Adjusted EBITDA was **$7.3 million**, with a **10% margin**, representing a **60.6% increase** from **$4.6 million** in the prior year period[19](index=19&type=chunk) - Adjusted net loss was **$6.4 million**, compared to an adjusted net income of **$4.6 million** in the prior year period[20](index=20&type=chunk) - Adjusted net loss per ADS was **$0.05**[21](index=21&type=chunk) [Detailed Financial Statements](index=8&type=section&id=Detailed%20Financial%20Statements) This section presents Opera's unaudited consolidated financial statements, including statements of operations, comprehensive income, financial position, changes in equity, and cash flows, alongside detailed breakdowns of revenue and expenses by business area [Unaudited Consolidated Statement of Operations](index=8&type=section&id=Unaudited%20consolidated%20statement%20of%20operations) This section provides Opera's unaudited consolidated statement of operations for the three months ended March 31, 2022, detailing revenue, operating expenses, operating profit (loss), financial income (expenses), profit (loss) before tax, and net profit (loss) attributable to owners of the parent | [USD thousands, except per ADS and per share amounts] | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Revenue | 51,583 | 71,583 | | Other operating income | 58 | 172 | | Total operating expenses | (53,099) | (70,413) | | Operating profit (loss) | (1,457) | 1,342 | | Share of net loss of equity-accounted investees | (145) | (6) | | Net financial income (expenses) | 1,413 | (10,164) | | Loss before tax | (189) | (8,828) | | Income tax (expense) benefit | 828 | (608) | | Net profit (loss) attributable to owners of the parent | 639 | (9,436) | | Diluted earnings per ADS (USD) | 0.01 | (0.08) | [Unaudited Consolidated Statement of Comprehensive Income](index=9&type=section&id=Unaudited%20consolidated%20statement%20of%20comprehensive%20income) This section provides Opera's unaudited consolidated statement of comprehensive income for the three months ended March 31, 2022, showing net profit (loss) and other comprehensive income (loss), including foreign currency translation differences and reclassification of other comprehensive income (loss) from equity-accounted investees | [USD thousands] | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net profit (loss) | 639 | (9,436) | | Other comprehensive income (loss): | | | | Foreign currency translation differences | (1,316) | (768) | | Reclassification of other comprehensive income (loss) from equity-accounted investees | - | 708 | | Other comprehensive loss | (1,316) | (60) | | Total comprehensive loss attributable to owners of the parent | (677) | (9,496) | [Unaudited Consolidated Statement of Financial Position](index=10&type=section&id=Unaudited%20consolidated%20statement%20of%20financial%20position) This section provides Opera's unaudited consolidated statement of financial position as of December 31, 2021, and March 31, 2022, detailing the composition of assets, liabilities, and equity | [USD thousands] | December 31, 2021 | March 31, 2022 | | :--- | :--- | :--- | | **ASSETS:** | | | | Total non-current assets | 551,475 | 607,751 | | Total current assets | 540,986 | 466,533 | | **TOTAL ASSETS** | **1,092,460** | **1,074,284** | | **EQUITY:** | | | | Total equity attributable to owners of the parent | 1,013,039 | 1,002,466 | | **LIABILITIES:** | | | | Total non-current liabilities | 8,635 | 7,646 | | Total current liabilities | 70,786 | 64,172 | | **TOTAL LIABILITIES** | **79,421** | **71,818** | | **TOTAL EQUITY AND LIABILITIES** | **1,092,460** | **1,074,284** | [Unaudited Consolidated Statement of Changes in Equity](index=11&type=section&id=Unaudited%20consolidated%20statement%20of%20changes%20in%20equity) This section provides Opera's unaudited consolidated statement of changes in equity for the three months ended March 31, 2021, and March 31, 2022, detailing changes in share capital, other contributed capital, retained earnings, and foreign currency translation reserve | [USD thousands] | Share Capital | Other Contributed Capital | Retained Earnings | Foreign Currency Translation Reserve | Total Equity Attributable to Owners of the Parent | | :--- | :--- | :--- | :--- | :--- | :--- | | December 31, 2021 | 24 | 764,381 | 249,155 | (520) | 1,013,039 | | Net loss | - | - | (9,436) | - | (9,436) | | Other comprehensive loss | - | - | - | (60) | (60) | | Total comprehensive loss | - | - | (9,436) | (60) | (9,496) | | Repurchase of treasury shares | - | (3,045) | - | - | (3,045) | | Share-based remuneration | - | - | 1,967 | - | 1,967 | | March 31, 2022 | 24 | 761,336 | 241,687 | (580) | 1,002,466 | [Unaudited Consolidated Statement of Cash Flows](index=12&type=section&id=Unaudited%20consolidated%20statement%20of%20cash%20flows) This section provides Opera's unaudited consolidated statement of cash flows for the three months ended March 31, 2022, detailing cash flows from operating, investing, and financing activities | [USD thousands] | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash flow from operating activities | 7,275 | 13,464 | | Net cash flow from investing activities | 3,039 | 5,841 | | Net cash flow from financing activities | (740) | (4,199) | | Net change in cash and cash equivalents | 9,575 | 15,108 | | Cash and cash equivalents at end of period | 143,297 | 117,786 | [Financial Details by Business Area](index=13&type=section&id=Financial%20details%20by%20business%20area) This section provides revenue and direct expense contributions by business area (Browser and News, Other), demonstrating significant growth in revenue and contribution from the Browser and News segment Q1 2022 Revenue and Direct Expenses by Business Area | [USD thousands] | Browser and News | Other | Total | | :--- | :--- | :--- | :--- | | **REVENUE CATEGORIES:** | | | | | Search | 32,027 | - | 32,027 | | Advertising | 38,444 | 7 | 38,451 | | Technology licensing and other revenue | 348 | 758 | 1,106 | | **TOTAL REVENUE** | **70,818** | **765** | **71,583** | | **DIRECT EXPENSES:** | | | | | Technology and platform fees | (1,219) | - | (1,219) | | Content costs | (1,044) | (0) | (1,044) | | Cost of goods sold | (5,785) | - | (5,785) | | Marketing and distribution expenses | (34,042) | (98) | (34,140) | | Credit loss expenses | (47) | 3 | (43) | | **TOTAL DIRECT EXPENSES** | **(42,137)** | **(94)** | **(42,231)** | | **BUSINESS AREA CONTRIBUTION** | **28,681** | **671** | **29,352** | [Personnel Expenses Including Share-Based Remuneration](index=14&type=section&id=Personnel%20expenses%20including%20share-based%20remuneration) This section details personnel expenses including share-based remuneration, showing total personnel expenses of $16.43 million in Q1 2022, with share-based remuneration expenses of $1.88 million Personnel Expenses Including Share-Based Remuneration Breakdown | [USD thousands] | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Personnel expenses excluding share-based remuneration | 16,041 | 14,546 | | Share-based remuneration, including related social security costs | 1,054 | 1,882 | | **TOTAL PERSONNEL EXPENSES INCLUDING SHARE-BASED REMUNERATION** | **17,096** | **16,428** | [Other Operating Expenses](index=15&type=section&id=Other%20operating%20expenses) This section details the nature of other operating expenses, including hosting fees, audit, legal, and other consulting service fees, and software license fees, totaling $7.46 million Other Operating Expenses Breakdown | [USD thousands] | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Hosting | 1,843 | 2,238 | | Audit, legal and other consulting services | 1,496 | 3,002 | | Software license fees | 414 | 469 | | Rent and other office expenses | 866 | 882 | | Travel | 79 | 150 | | Other | 763 | 714 | | **TOTAL OTHER OPERATING EXPENSES** | **5,460** | **7,456** | [Non-IFRS Financial Measures Definitions & Reconciliation](index=5&type=section&id=Non-IFRS%20Financial%20Measures%20Definitions%20%26%20Reconciliation) This section defines and reconciles non-IFRS financial measures, Adjusted EBITDA and Adjusted Net Income, used to assess core operational performance by excluding specific non-cash and non-recurring items [About Non-IFRS Financial Measures](index=5&type=section&id=About%20non-IFRS%20financial%20measures) Opera utilizes Adjusted EBITDA and Adjusted Net Income as non-IFRS financial measures to evaluate core operational performance, excluding items such as income tax, financial expenses, share-based remuneration, depreciation, amortization, and non-recurring expenses, to provide a clearer understanding of business performance without replacing IFRS financial information - Adjusted EBITDA is defined as net profit (loss) excluding income tax expense (benefit), net financial expenses (income), share of net profit (loss) of equity-accounted investees, fair value gains (losses) on investments, depreciation and amortization, impairment of non-financial assets, impairment of equity-accounted investees, share-based remuneration, credit loss expenses related to divested joint ventures, and non-recurring expenses, less other operating income and (profit) loss from discontinued operations[27](index=27&type=chunk) - Adjusted net profit (loss) is defined as net profit (loss) excluding share-based remuneration, amortization of acquired intangible assets, amortization of Nanobank intangible assets, credit loss expenses related to divested joint ventures, and other non-recurring expenses, as well as (profit) loss from discontinued operations, adjusted for related tax benefits[28](index=28&type=chunk) [Non-IFRS Financial Measures Reconciliation](index=16&type=section&id=Non-IFRS%20financial%20measures%20reconciliation) This section provides reconciliation tables for net profit (loss) to Adjusted EBITDA and Adjusted Net Profit (Loss), detailing each adjustment item and its corresponding amount Reconciliation of Net Profit (Loss) to Adjusted EBITDA | [USD thousands, except per share and ADS amounts] | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net profit (loss) | 639 | (9,436) | | Add: Income tax expense (benefit) | (828) | 608 | | Add: Net financial expenses (income) | (1,413) | 10,164 | | Add: Share of net loss of equity-accounted investees | 145 | 6 | | Add: Depreciation and amortization | 5,037 | 3,590 | | Add: Share-based remuneration | 1,054 | 1,882 | | Add: Non-recurring expenses | - | 708 | | Less: Other operating income | (58) | (172) | | **Adjusted EBITDA** | **4,576** | **7,349** | Reconciliation of Net Profit (Loss) to Adjusted Net Profit (Loss) | [USD thousands, except per share and ADS amounts] | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net profit (loss) | 639 | (9,436) | | Add: Share-based remuneration | 1,054 | 1,882 | | Add: Amortization of acquired intangible assets | 1,571 | 645 | | Add: Amortization of Nanobank intangible assets (1) | 1,759 | - | | Add: Non-recurring expenses | - | 708 | | Income tax adjustment (2) | (416) | (161) | | **Adjusted Net Profit (Loss)** | **4,607** | **(6,362)** | | Basic Adjusted Net Profit (Loss) per ADS, USD | 0.04 | (0.05) | | Diluted Adjusted Net Profit (Loss) per ADS, USD | 0.04 | (0.05) | [Additional Information](index=5&type=section&id=Additional%20Information) This section includes details on the Q1 earnings conference call, a safe harbor statement for forward-looking information, and an overview of Opera as a global web innovation company [Conference Call](index=5&type=section&id=Conference%20call) Opera management held a conference call on April 28, 2022, to discuss Q1 2022 financial results, providing dial-in information and a webcast link - Opera management held a conference call on **April 28, 2022, at 8:00 AM ET (2:00 PM CET, 8:00 PM Beijing/Hong Kong time)** to discuss Q1 2022 financial results[24](index=24&type=chunk) - A live webcast of the conference call is available at **https://investor.opera.com**[24](index=24&type=chunk) [Safe Harbor Statement](index=6&type=section&id=Safe%20harbor%20statement) This press release contains forward-looking statements protected by the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which involve known and unknown risks and uncertainties, including the Ukraine conflict, COVID-19, regulatory processes, product launches, user growth, and macroeconomic conditions, where actual results may differ materially from expectations - This press release contains forward-looking statements protected by the safe harbor provisions of the **U.S. Private Securities Litigation Reform Act of 1995**[30](index=30&type=chunk) - Forward-looking statements involve known and unknown risks and uncertainties, including the **Ukraine conflict, COVID-19 pandemic, regulatory processes, product launches, user growth, and macroeconomic conditions**[30](index=30&type=chunk) - The company undertakes no obligation to update any forward-looking statements, and investors should be aware that actual results may differ materially from expectations[30](index=30&type=chunk) [About Opera](index=7&type=section&id=About%20Opera) Opera is a global web innovation company whose browser, gaming, Web3, and news products are trusted by hundreds of millions of users worldwide, headquartered in Oslo, Norway, and listed on Nasdaq (ticker: OPRA) - Opera is a global web innovation company whose browser, gaming, Web3, and news products are trusted by **hundreds of millions of users worldwide**[31](index=31&type=chunk) - Opera is headquartered in **Oslo, Norway**, and listed on the Nasdaq stock exchange under the ticker symbol **OPRA**[31](index=31&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021. Commission file number: 001-38588 Opera Limited (Exact name of Registrant as specified in its charter) N/A (Translation of Registrant's name into English) Cayman Islands (Jurisdiction of incorporation or organization) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF T ...

Thanks for joining us. With me today, I have our co-CEO, Song Lin, and our CFO, Broda Jacobson. Before I hand the call over to Song Lin, I would like to remind everyone that in the conference call today, the company will be making statements about its future results and expectations, which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements are based on current expectations and how we perceive the current economic environment and are inhe ...

Opera Limited (Exact name of Registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | | FORM 20-F | | --- | --- | | (Mark One) | | | ☐ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 | | OR | | | ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | For the fiscal year ended December 31, 2020. | | OR | | | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) O ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO S ...

Table of Contents Cayman Islands (Jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number: 001-38588 Opera Limited (Exact name of Registrant as specified in its charter) N/A (Translation of Registrant's name into English) Gjerdrums vei 19, 0484 Oslo, Norway ...