Elliptic Labs: Mandatory Notifications of Trade

Oslo, Norway --- Elliptic Labs (OSE: ELABS) refer to the stock exchange announcement published on 5 June 2026 regarding the Company's 2026 annual option grant and the replacement options offer to eligible holders of previously granted share options. The following persons discharging managerial responsibilities have accepted the replacement option offer: * Ola Tviberg Sandstad (CEO) has accepted the replacement option offer in respect of 255,000 previously granted share options. Following such acceptance, Sandstad has relinquished 255,000 previously granted share options and has been granted 127,500 replacement options. Following completion of the replacement option offer and the 2026 annual option grant, Sandstad holds 527,500 share options in the Company. * Mathias Norderud (CFO) has accepted the replacement option offer in respect of 74,359 previously granted share options. Following such acceptance, Norderud has relinquished 74,359 previously granted share options and has been granted 37,180 replacement options. Following completion of the replacement option offer and the 2026 annual option grant, Norderud holds 427,180 share options in the Company. * Brian Daly (CCO) has accepted the replacement option offer in respect of 885,000 previously granted share options. Following such acceptance, Daly has relinquished 885,000 previously granted share options and has been granted 442,500 replacement options. Following completion of the replacement option offer and the 2026 annual option grant, Daly holds 642,500 share options in the Company. * Øystein Grimstad (CPO) has accepted the replacement option offer in respect of 193,334 previously granted share options. Following such acceptance, Grimstad has relinquished 193,334 previously granted share options and has been granted 96,667 replacement options. Following completion of the replacement option offer and the 2026 annual option grant, Grimstad holds 421,667 share options in the Company. * Tobias Borén Svendsen (CTO) has accepted the replacement option offer in respect of 340,000 previously granted share options. Following such acceptance, Svendsen has relinquished 340,000 previously granted share options and has been granted 170,000 replacement options. Following completion of the replacement option offer and the 2026 annual option grant, Svendsen holds 430,000 share options in the Company. Please see the attached forms for mandatory notifications of trade by persons discharging managerial responsibilities in connection with the acceptance of the replacement option offer. All eligible option holders have accepted the replacement option offer. As a result, 3,132,572 previously granted share options have been relinquished and replaced by 1,566,286 new replacement options in the Company. Following completion of the replacement option offer and the 2026 annual option grant, the aggregate number of outstanding options granted to the board of directors, executive management and employees in the Company is 5,331,310, corresponding to approximately 4.22% of the Company's total outstanding share capital. For more information, please contact: CEO Ola Tviberg Sandstad, ola.sandstad@ellipticlabs.com CFO Mathias Norderud, mathias.norderud@ellipticlabs.com About Elliptic Labs Elliptic Labs is a global Edge AI company delivering trusted, low-power on-device sensing at scale. Our AI Virtual Smart Sensor PlatformTM enables intelligent, always-on contextual awareness directly on devices --- without the need for additional hardware or continuous cloud processing. Deployed in over 500 million devices worldwide, our platform powers software-defined sensing across a broad range of consumer and enterprise products. By executing compact neural networks directly on-device, our technology delivers adaptive, real-time sensing that preserves user privacy while minimizing power consumption. For more than a decade, Elliptic Labs has specialized in efficient neural network execution using proprietary runtimes and custom-built sensing models optimized for real-world environments. Built on balanced, self-collected datasets and engineered to operate across diverse hardware architectures, our AI Virtual Smart Sensors enable seamless integration across product generations and device categories. Our solutions enhance security, personalization, productivity, and user experience --- forming a scalable foundation for the next generation of AI-enabled devices. Headquartered in Norway, with a presence in the USA, China, South Korea, Taiwan, and Japan, Elliptic Labs is listed on the Oslo Stock Exchange. All technology and intellectual property are developed in Norway and are solely owned by the company, ensuring independence and long-term innovation. This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-06-10 19:25 CEST.