Elliptic Laboratories ASA — Remuneration Information 2025

May 22, 2025

Elliptic Labs Grant of Share Options to Employees and Primary Insiders After Q1 2025 Report

Elliptic Labs Grant of Share Options to Employees and Primary Insiders After Q1 2025 Report

Oslo, Norway -- Elliptic Labs (OSE: ELABS), a global AI software company and

leader in Virtual Smart Sensors, announces the grant of share options to

eligible employees and primary insiders following the publication of the

Company's Q1 2025 report.

The Board of Directors has resolved to grant a total of 1,319,500 share

options (equivalent to approximately 1.17% of the fully diluted share capital)

to eligible employees who have been with the company since before 1st October

2024. These options entitle holders to acquire shares at a strike price of NOK

11.422 per share, calculated as the volume-weighted average price (VWAP) over

the last 30 days prior to the grant. The grant date is 22nd May 2025, and the

options must be exercised no later than 31st December 2029.

Vesting Schedule:

* One-third on 31st December 2025

* One-third on 31st December 2026

* One-third on 31st December 2027

Grant of Share Options to Primary Insiders

In accordance with the Company's long-term incentive plan and remuneration

guidelines, the Board has also granted options to primary insiders on the same

terms as above (strike price NOK 11.422 per share, grant date 22nd May 2025,

and expiry 31st December 2029), vesting equally over three years.

Overview of Primary Insiders Granted Options:

* Laila Danielsen (Chief Executive Officer): 300,000 options.

Following the grant, Ms. Danielsen holds 4,374,150 shares and 1,060,000

options in the Company.

* Lars Holmøy (Chief Financial Officer): 110,000 options.

Following the grant, Mr. Holmøy holds 57,420 shares and 1,302,500 options in

the Company.

* Espen Klovning (EVP of Engineering): 325,000 options.

Following the grant, Mr. Klovning holds 174,670 shares and 835,000 options in

the Company.

* Brian Daly (EVP Sales & Business Development): 125,000 options.

Following the grant, Mr. Daly holds 885,000 options in the Company.

With this grant, the total number of options outstanding in the Company now

permits employees and management to potentially acquire up to 7,338,239 shares

in aggregate, corresponding to approximately 6.51% of the fully diluted share

capital.

For further information, please contact:

Contacts

Investor Relations:

Lars Holmøy

Lars.Holmoy@ellipticlabs.com

PR Contact:

Patrick Tsui

pr@ellipticlabs.com

About Elliptic Labs

Elliptic Labs' AI Virtual Smart Sensor PlatformTM brings contextual

intelligence to devices, enhancing user experiences. Our technology uses

proprietary deep neural networks to create AI-powered Virtual Smart Sensors

that improve personalization, privacy, and productivity.

Currently deployed in over 500 million devices, our platform works across all

devices, operating systems, platforms, and applications. By utilizing

system-level telemetry data to cloud-based Large Language Models (LLMs), the

AI Virtual Smart Sensor Platform delivers the unrivaled capability to utilize

output data from every available data source. This approach allows devices to

better understand and respond to their environment, making technology more

intuitive and user-friendly. At Elliptic Labs, we're not just adapting to the

future of technology -- we're actively shaping it. Our goal is to continue

pushing the boundaries of contextual intelligence, creating more intuitive and

powerful experiences for users worldwide.

Elliptic Labs is headquartered in Norway with presence in the USA, China,

South-Korea, Taiwan, and Japan. The company is listed on the Oslo Stock

Exchange. Its technology and IP are developed in Norway and are solely owned

by the company.

This information has been submitted pursuant to the Securities Trading Act §

5-12 and MAR Article 17. The information was submitted for publication at

2025-05-22 18:30 CEST.