Elliptic Labs appoints Mathias Norderud as interim CFO as Lars Holmøy steps down

24 Sep 2025 07:00 CEST

Oslo, Norway --- Elliptic Labs (OSE: ELABS) has been notified that Lars Holmøy
has decided to step down from his position as CFO after more than four years
with the company, and has appointed Senior Finance Manager Mathias Norderud as
interim CFO with immediate effect.

"Lars has played a crucial part in the development of Elliptic Labs over the
past more than four years, both in our day-to-day operations and in leading us
through our listing on the Oslo Stock Exchange and securing financing of the
company. I am very grateful for his many contributions, and wish him the best
of luck," says CEO Laila Danielsen in Elliptic Labs.

Mathias Norderud has also been with Elliptic Labs more than four years, first
as a Finance Manager and then as Senior Finance Manager for the past two
years. Norderud holds a Master of Science (MSc), Business Analysis and
Performance Management from the Norwegian School of Economics (NHH)

"Mathias knows the company well and having worked closely with Lars over many
years he has gained the experience required to take on the CFO role," adds
Danielsen.

Lars Holmøy will stay with the company through to 30 November to facilitate a
smooth transition.

For further information, please contact:
CEO Laila Danielsen, laila@ellipticlabs.com

About Elliptic Labs
Elliptic Labs' AI Virtual Smart Sensor PlatformTM brings contextual
intelligence to devices, enhancing user experiences. Our technology uses
proprietary deep neural networks to create AI-powered Virtual Smart Sensors
that improve personalization, privacy, and productivity.

Currently deployed in over 500 million devices, our platform works across all
devices, operating systems, platforms, and applications. By utilizing
system-level telemetry data to cloud-based Large Language Models (LLMs), the
AI Virtual Smart Sensor Platform delivers the unrivaled capability to utilize
output data from every available data source. This approach allows devices to
better understand and respond to their environment, making technology more
intuitive and user-friendly. At Elliptic Labs, we're not just adapting to the
future of technology -- we're actively shaping it. Our goal is to continue
pushing the boundaries of contextual intelligence, creating more intuitive and
powerful experiences for users worldwide.

Elliptic Labs is headquartered in Norway with presence in the USA, China,
South-Korea, Taiwan, and Japan. The company is listed on the Oslo Stock
Exchange. 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 17. The information was submitted for publication at
2025-09-24 07:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

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