Elliptic Labs Presentation

May 27, 2021

AI software empowering the next billion devices

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Agenda

Elliptic Labs develops smart software-sensors that use AI and ultrasound to sense you and your surroundings

Sensors touch every aspect of life and drive the digital transformation Our vision is to build the leading software platform for all sensors, making every device smarter and more environmentally-friendly

Today we are the ultrasound leader for consumer market

Who Global AI software company with presence in Norway, Asia and USA AI Virtual software sensors for presence, 3D gestures and heartbeat detection for consumer and automotive markets What Well-invested and -developed technology proven at scale with multiple customers and cost-efficient machine learning software platform How Software-only business model with opportunity for >50% EBITDA margin, backed by a strong patent portfolio – 99 patents granted/pending Business model Deployed in 100M+ devices and growing software is deployed in over 150M devices and growing…

Revenue Target NOK 500m within the next three years

Our

We enable critical user experiences for the smartphone, laptop, IoT & automotive markets

Proximity Presence Gesture Positioning Connection Breathing Heartbeat

Strengthened market opportunities

Tight supply chain impacts hardware sensor availability and pricing, improving our competitive advantage

Smartphone market

More smartphone launches – added new customer

1.6B smartphones have a proximity sensor turning screen off/on when users are making calls:

Most smartphones are using hardware sensors for proximity, that we are replacing with our smart software sensors
Customers partner with us to reduce supply chain, cost and to add new innovative features

Q1 2021 Highlights:

➢ Signed agreement with a new large smartphone customer
➢ Announced four high-volume smartphone launches with Xiaomi, a world leading smartphone and IoT manufacturer, models:
- ➢ "Mi 11 Lite"
- ➢ "Mi 11 Lite 5G"
- ➢ "Redmi Note 10"
- ➢ "Redmi Note 10s"
➢ Announced two smartphone launches with a new customer, Blackshark, models:
- ➢ "Blackshark 4"
- ➢ "Blackshark 4 Pro"

Target	All Smartphones
Competing hardware sensors cost per unit	Infrared Sensor \$0.10-\$0.25
Our Value proposition	No supply chain, lower cost & more features
Our Pricing model	Per unit or annual license agreement
Market opportunity	\$200-\$400M

PC market opportunity

Positioned to be standard provider for presence detection

Laptop OEMs want presence detection on all their devices:

Our software sensors meet both the price-point and performance needed to broadly deploy presence-sensing capabilities to all tiers of a laptop manufacturer's product lines.
Competing hardware sensors used for presence detection for security, require a supply chain, have longer integration cycle, and are more costly

Q1 2021 Status:

➢ Signed one more Proof-of-Concept agreement, and continued to work other the leading PC OEMs
➢ Strengthened our partner collaboration with all leading semiconductor vendors on their laptop, tablet and PC platforms
➢ Opened office in Taiwan, where most PC ODMs are based and major PC OEMs are present

Aligning roadmaps with current and new chipset partners for easier deployment of our solutions for joint customers

Established partnership with Cadence, a leader in electronic design automation, optimized Elliptic machine learning algorithms on Cadence Tensilica HiFi DSPs. Jointly enabling richer user experience running on energy-efficient processors to drive next-generation devices
Aligning short and mid-term roadmaps based on customer demand, ensuring easier deployment at scale
Symbiotic relationship and continued traction with key partners to deliver our technology to joint customers

Years of dedication and networking enables Elliptic Labs to access new markets, new verticals and leverage opportunities