Elliptic Labs: Key information regarding Subsequent Offering

06 Mar 2026 08:30 CET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Oslo, Norway --- Reference is made to the stock exchange announcement by
Elliptic Laboratories ASA (OSE: ELABS) (the "Company") on 5 March 2026
regarding the successful placement and allocation of 21,050,000 new shares
(conditional for Tranche 2) at a subscription price of NOK 2.85 per new share,
raising gross proceeds of approx. NOK 60 million (the "Private Placement") and
a potential subsequent offering (the "Subsequent Offering").

The Board will propose that an extraordinary general meeting resolves to
provide the Board with an authorisation to conduct the Subsequent Offering at
a subscription price per share corresponding to the subscription price in the
Private Placement. The total maximum subscription amount of the Subsequent
Offering would be NOK 29,925,000. The Subsequent Offering will, if made, be
subject to among other things (i) completion of the Private Placement, (ii)
relevant corporate resolutions, including approval by the Board, and the
Company's extraordinary general meeting approving a board authorisation to
issue shares in the Subsequent Offering, (iii) the preparation, approval and
publication of a prospectus for the Subsequent Offering, and (iv) the
prevailing market price of the Company's shares following the Private
Placement.

The Subsequent Offering would be directed towards existing shareholders in the
Company as of 5 March 2026 (as registered in VPS two trading days thereafter)
who (i) were not included in the pre-sounding phase of the Private Placement,
(ii) were not allocated Offer Shares in the Private Placement, and (iii) are
not resident in a jurisdiction where such offering would be unlawful or would
(in jurisdictions other than Norway) require any prospectus, filing,
registration or similar action.

The Company reserves the right in its sole discretion to not conduct or to
cancel the Subsequent Offering and will, if and when finally resolved, issue a
separate stock exchange notice with further details on the Subsequent
Offering.

In accordance with the continuing obligations of companies listed on Euronext
Oslo Børs, the following key information is given with respect to the
Subsequent Offering:

* Date on which the terms and conditions of the Subsequent Offering were
announced: 6 March 2026
* Last day including right: 5 March 2026
* Ex-date: 6 March 2026
* Record date: 9 March 2026
* Date of approval: 5 March 2026
* Maximum number of new shares: 10,500,000
* Subscription price: NOK 2.85

For more information, please contact:
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 is published in accordance with the requirements of the
Continuing Obligations and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act.

Important information:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into
any jurisdiction in which such distribution would be unlawful or would require
registration or other measures.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities
laws. The Company does not intend to register any part of the offering in the
United States or to conduct a public offering of securities in the United
States. Any sale in the United States of the securities mentioned in this
announcement will be made solely to "qualified institutional buyers" as
defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression
"Prospectus Regulation" means Regulation (EU) 2017/1129 as amended (together
with any applicable implementing measures in any Member State).

This communication is only being distributed to and is only directed at
persons in the United Kingdom that are "qualified investors" as defined in
paragraph 15 of Schedule 1 to the Public Offers and
Admissions to Trading Regulations 2024, and who are (i) investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or
(ii) high net worth entities, and other persons to whom this announcement may
lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order
(all such persons together being referred to as "relevant persons"). This
communication must not be acted on or relied on by persons who are not
relevant persons. Any investment or investment activity to which this
communication relates is available only for relevant persons and will be
engaged in only with relevant persons. Persons distributing this communication
must satisfy themselves that it is lawful to do so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect",
"anticipate", "strategy", "intends", "estimate", "will", "may", "continue",
"should" and similar expressions. The forward-looking statements in this
release are based upon various assumptions, many of which are based, in turn,
upon further assumptions. Although the Company believes that these assumptions
were reasonable when made, these assumptions are inherently subject to
significant known and unknown risks, uncertainties, contingencies and other
important factors which are difficult or impossible to predict, and are beyond
its control. Such risks, uncertainties, contingencies and other important
factors could cause actual events to differ materially from the expectations
expressed or implied in this release by such forward-looking statements. The
Company does not make any guarantee that the assumptions underlying the
forward-looking statements in this announcement are free from errors nor does
it accept any responsibility for the future accuracy of the opinions expressed
in this announcement or any obligation to update or revise the statements in
this announcement to reflect subsequent events. You should not place undue
reliance on the forward-looking statements in this announcement. The
information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking
statements to reflect events that occur or circumstances that arise in
relation to the content of this announcement.

Neither the Manager nor any of its affiliates makes any representation as to
the accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred
to herein.

This announcement is for information purposes only and is not to be relied
upon in substitution for the exercise of independent judgment. It is not
intended as investment advice and under no circumstances is it to be used or
considered as an offer to sell, or a solicitation of an offer to buy any
securities or a recommendation to buy or sell any securities of the Company.
Neither the Manager nor any of its affiliates accept any liability arising
from the use of this announcement.

The distribution of this announcement and other information may be restricted
by law in certain jurisdictions. Persons into whose possession this
announcement or such other information should come are required to inform
themselves about and to observe any such restrictions.

More information:
Access the news on Oslo Bors NewsWeb site

667702_Elliptic Labs- Key information regarding Subsequent Offering.pdf