Elliptic Labs – Sale of shares issued under share option program, mandatory notification of trade

Reference is made to the stock exchange notices by Elliptic Laboratories ASA ("Elliptic Labs" or the "Company") on 14 July 2023, regarding a share capital increase resolved by the Company's board of directors in connection with the exercise of options under the Company's share option program. Pursuant to the sales process conducted by a third party for the shares issued upon the exercise of share options, the primary insider Brian Daly (EVP Sales & Business Development) has sold 37 560 shares at a price of NOK 16.67 per share. See the enclosed form for further details about the transaction. Contacts Investor Relations: Lars Holmøy Lars.Holmoy@ellipticlabs.com (mailto:Lars.Holmoy@ellipticlabs.com) PR Contact: Patrick Tsui pr@ellipticlabs.com (mailto:pr@ellipticlabs.com) About Elliptic Labs Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. Founded in 2006 as a research spin-off from Norway's Oslo University, the Company's patented software uses AI, ultrasound, and sensor-fusion to create AI Virtual Smart Sensors that deliver intuitive 3D gesture-, proximity-, presence-, breathing, and heartbeat-detection experiences. Its scalable AI Virtual Smart Sensor PlatformTM creates software-only sensors that are sustainable, human-friendly, and already deployed in hundreds of millions of devices around the world. Elliptic Labs is the only software company that has delivered detection capabilities using AI software, ultrasound, and sensor-fusion deployed at scale. The Company is listed on the Oslo Børs. Elliptic Labs is headquartered in Norway with presence in the USA, China, South-Korea, Taiwan, and Japan. Its technology and IP are developed in Norway and are solely owned by the Company. This information is published in accordance with the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.