Elliptic Labs signs contract expansion with existing smartphone customer

Elliptic Labs (OSE: ELABS), a Norwegian AI software company with global presence and a leader in AI Virtual Smart SensorsTM, has signed an extension to its existing software license agreement with a smartphone customer. The extension covers two new smartphone projects for calendar year 2026 using Elliptic Labs' AI Virtual Proximity SensorTM INNER BEAUTY®, which enables proximity detection without the need for a dedicated hardware sensor.

The extension also establishes a framework that allows the customer to add additional future projects as licensed devices through written notice to Elliptic Labs under the existing software license agreement.

"Adding new models under an existing customer relationship demonstrates the continued value and scalability of our AI Virtual Smart Sensors platform," said Ola Sandstad, CEO of Elliptic Labs. "The new framework provides an efficient path for the customer to add future device models under the agreement, supporting continued adoption of our technology across its smartphone portfolio."

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.

Trademark INNER BEAUTY is a registered trademark of Elliptic Labs.

AI Virtual Smart Sensor, AI Virtual Proximity Sensor, and AI Virtual Smart Sensor Platform are trademarks of Elliptic Labs.

All other trademarks or service markets are the responsibility of their respective organizations.

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 2026-09-25 07:25 CEST.