Oslo, Norway — Reference is made to the stock exchange announcement by Elliptic Laboratories ASA (the "Company") on 5 March 2026 regarding the successful placement of new shares (the "Offer Shares") in the Company at a price per Offer Share of NOK 2.85, raising gross proceeds of approximately NOK 60 million (the "Private Placement") and the minutes from the extraordinary general meeting held today, 27 March 2026 (the "EGM").
 
In the second tranche of the Private Placement, as resolved by the EGM, the following primary insiders of the Company and closely associated entities were allocated Offer Shares for a total amount of approx. NOK 5.7 million:
 

• Alden AS, a company closely associated with Edvin Austbø (Board member), has been allocated 1,473,684 Offer Shares equal to approx. NOK 4.2 million;
• Svenn-Tore Larsen (Chairperson of the Board) has been allocated 350,877 Offer Shares equal to approx. NOK 1 million;
• Svein-Egil Nielsen (Board member) has been allocated 35,087 Offer Shares equal to approx. NOK 100,000;
• Ingrid Elvira Leisner (Board member) has been allocated 35,087 Offer Shares equal to approx. NOK 100,000;
• Berit Svendsen (Board member) has been allocated 35,087 Offer Shares equal to approx. NOK 100,000;
• TS Vekst AS, company closely associated with Ola Tviberg Sandstad (CEO), has been allocated 35,087 Offer Shares equal to approx. NOK 100,000; and
• Mathias Norderud (CFO) has been allocated 35,087 Offer Shares equal to approx. NOK 100,000.

 
Please see further details about the transactions in the attached PDMR forms.

For more information, please contact:
CEO Ola Tviberg 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 subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.