Elliptic Labs Exercise of options under share option program, share capital increase and mandatory notification of trade

Oslo, Norway --- Elliptic Labs (OSE: ELABS): Following the exercise of share options by option holders under Elliptic Laboratories ASA's ("Elliptic Labs" or the "Company") share option program, the Company's board of directors has, based on the authorization granted by the general meeting on 22 May 2024, resolved to increase the Company's share capital by a total of NOK 4,369.98, by the issuance of in aggregate 436,998 new shares. 300,000 of the shares have a subscription price of NOK 10.00 per share, and 136,998 of the shares have a subscription price of NOK 13.396 per share. Following registration of the share capital increases pertaining to the issuances of new shares, the share capital will be NOK 1,052,749.68, divided into 105,274,968 shares, each with a par value of NOK 0.01. The primary insider Espen Klovning has exercised 300,000 options under the share option program at a price of NOK 10.00 per share and the primary insider Åslaug Tveiterås has exercised 33,333 options under the share option program at a price of NOK 13.396 per share. See the attached forms for further details about the transactions. All the exercised options have been granted in accordance with the Company's share option program described in the Company's latest annual financial statements. Contacts Investor Relations: Lars Holmøy Lars.Holmoy@ellipticlabs.com PR Contact: Patrick Tsui 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 has been submitted pursuant to the Securities Trading Act § 5-12 and MAR Article 19 no. 3. The information was submitted for publication at 2024-05-24 17:01 CEST.