Elliptic Laboratories ASA — Remuneration Information 2025

May 28, 2025

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

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

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

leader in Virtual Smart Sensors, has issued an update regarding the granting

of share options under the Company's long-term share option program.

The board of directors has resolved to grant a total of 275,000 share options

to certain members of the Board. The resolution to grant these options was

made at the Annual General Meeting (AGM) held on May 21, 2025.

Each option, when exercised, carries the right to acquire one share in the

Company. The strike price for these options is NOK 9.36, which is the 10-day

average volume-weighted share price prior to calling the 2025 AGM. The price

of the Options to the Board 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 Board of directors to potentially

acquire up to 7,759,442 shares in aggregate, which is approximately 6.9% of

the total diluted share capital.

Grant Details:

* Svenn Tore Larsen (Chair) has been granted 98,000 share options. Following

the grant, Larsen holds 154,000 share options in the Company.

* Ingrid Leisner (Member) has been granted 59,000 share options. Following the

grant, Leitner holds 93,000 share options in the Company.

* Berit Svendsen (Member) has been granted 59,000 share options. Following the

grant, Svendsen 93,000 share options and 18,000 shares in the Company

* Svein Egil Nielsen (Member) has been granted 59,000 share options. Following

the grant, Nielsen holds 93,000 share options in the Company

Edvin Austbø (Member) has chosen not to receive options. He will receive the

standard remuneration of 300,000 NOK in accordance with the resolution made at

the Annual General Meeting.

Structure:

The Options will have a vesting period until the date that is 12 months after

the date of the 2025 AGM ("Vesting Date") and can only be exercised between

the Vesting Date and the date that is 24 months after the date of the 2025 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 a number

of Options representing the period served since the 2025 AGM until the date of

resignation, pro rata in relation to the period from the 2025 AGM until the

Vesting Date.

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

2025-05-28 15:30 CEST.