Elliptic Labs — Exercise of Options Under Share Option Program, Share Capital Increase and Mandatory Notification of Trade

Following the exercise of share options by option holders under Elliptic Laboratories AS' ("Elliptic Labs" or the "Company") share option program, the Company's board of directors has, based on the authorisation granted by the general meeting on 6 May 2021, resolved to increase the Company's share capital by NOK 7 018.10, by the issuance of 701 810 new shares. 660 130 of the shares have a subscription price of NOK 15.00 per share, and 41 680 of the shares have a subscription price of NOK 3.80 per share.

Following the issuance of new shares, the share capital will be NOK 1 038 418.80, divided into 103 841 880 shares, each with a par value of NOK 0.01.

The primary insider Brian Daly (Senior VP of Sales and Business Development) has exercised 31 244 options under the share option program at a price of NOK 15.00 per share. See the enclosed forms for further details about the transaction.

All the exercised options have been granted in accordance with the Company's share option program described in the Company's latest annual financial statement.

This information is published in accordance with the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3, section 5-12 of the Norwegian Securities Trading Act and the Euronext Growth Rule Book part II.

For further queries, please contact:
Lars Holmøy, CFO, [email protected]