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

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.