Elliptic Labs Granting of Share Options to Board of Directors, Mandatory Notifications of Trade

28 May 2026 19:35 CEST

Oslo, Norway -- Elliptic Labs (OSE: ELABS) announces that members of the Board
of Directors have elected to receive part of their board remuneration in share
options pursuant to the resolution approved at the Annual General Meeting held
on 20 May 2026.

A total of 737,000 share options have been granted to members of the Board.
Each option, when exercised, carries the right to acquire one share in the
Company. The strike price for the options is NOK 3.08 per share, corresponding
to the 10-day average volume-weighted share price prior to the Nomination
Committee's issuance of its recommendation to the 2026 AGM. The price of the
options is based on the Black-Scholes model.

With this new grant, the total number of options outstanding in the Company
now permits employees, management and members of the Board of Directors to
potentially acquire up to 4,383,271 shares in aggregate, corresponding to
approximately 3.5% of the total outstanding share capital.

Grant Details:

* Svenn Tore Larsen (Chair) has been granted 263,000 share options. Following
the grant, Larsen holds 417,000 share options in the Company.
* Berit Svendsen (Member) has been granted 158,000 share options. Following
the grant, Svendsen holds 251,000 share options in the Company.
* Mikael Clement (Member) has been granted 158,000 share options. Following
the grant, Clement holds 158,000 share options in the Company.
* Svein Egil Nielsen (Member) has been granted 158,000 share options.
Following the grant, Nielsen holds 251,000 share options in the Company.

Ingrid Leisner (Member) has elected not to receive share options and will
instead receive the standard cash remuneration approved by the AGM. Board
member Leisner holds 93,000 share options from previous grants.

Structure:
The options will have a vesting period until the date that is 12 months after
the date of the 2026 AGM ("Vesting Date") and can only be exercised between
the Vesting Date and the date that is 24 months after the date of the 2026 AGM
("Expiry Date"). In the event a member of the Board resigns or is not
re-elected prior to the Vesting Date, the options will lapse, except for a
number of options representing the period served from the 2026 AGM until the
date of resignation, pro rata in relation to the period from the 2026 AGM
until the Vesting Date.

Contacts
Investor Relations
Ola Sandstad
ir@ellipticlabs.com

PR Contact:
pr@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 2026-05-28 19:35 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

674818_Elliptic Labs Granting of Share Options to Board of Directors, Mandatory Notifications of Trade.pdf
674818_Elliptic Labs Notification Of Transaction By Primary Insider.pdf