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

24 May 2024 17:01 CEST

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.

More information:
Access the news on Oslo Bors NewsWeb site

619738_Elliptic Labs Exercise of options under share option program, share capital increase and mandatory notification of trade.pdf
619738_2024 05 24 Elliptic Labs Attachment To Notification Of Transaction By Primary Insider.pdf