Elliptic Labs Appoints Sandstad and Norderud CEO and CFO on permanent basis

04 Mar 2026 11:00 CET

Oslo, Norway, 4 March 2026 - Elliptic Labs (OSE: ELABS) today announces that
its Board of Directors has resolved to appoint Ola Sandstad as Chief Executive
Officer (CEO) and Mathias Norderud as Chief Financial Officer (CFO) on a
permanent basis. Both have served in their respective roles on an interim
basis.

Ola Sandstad has been with Elliptic Labs since May 2021, holding positions
including SVP of Product Development and Investor Relations manager. He has
served as interim CEO since November 2025 and has played a central role in
driving the company's strategic development during this period.

Mathias Norderud joined Elliptic Labs in September 2021 and held the roles of
Senior Finance Manager prior to serving as interim CFO since September 2025.
During this period, he has been responsible for strengthening the company's
financial organization, reporting, and operational discipline.

"The Board would like to thank Sandstad and Norderud for their leadership and
steady execution during this transitional period. They have ensured
continuity, operational focus, and financial discipline while positioning the
company for its next phase. We are confident that appointing them permanently
provides the stability and leadership needed as Elliptic Labs scales and
delivers on its strategic ambitions", says Chairman of the Board, Svenn-Tore
Larsen in Elliptic Labs.

The appointments are effective immediately.

Contacts:
CEO Ola 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 Article 17. The information was submitted for publication,
through the agency of the contact persons set out above, at 2026-03-04 11:00
CET.

More information:
Access the news on Oslo Bors NewsWeb site

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