000-000-0000 [email protected]

Oslo, Norway Reference is made to the stock exchange notice by Elliptic Laboratories ASA ("Elliptic Labs" or the "Company", XOSL: "ELABS") on 21 February 2022 regarding the granting of share options to employees under the Company's long-term share option program.

Today, following publication of the Company's Q4 2021 report, the board of directors has resolved to grant a total of 1 171 378 share options (equivalent to approx. 1.13% of the total share capital), to the below primary insiders of the Company. Each option, when exercised, carries the right to acquire one share in the Company. The share options are granted under the Company's long-term share option program and on the same terms as set out in the Company's stock exchange notice of 21 February 2022.

  • Laila Danielsen (Chief Executive Officer) has been granted 410 000 share options. Following the grant, Danielsen holds 4 624 150 shares and 410 000 share options in the Company.
  • Lars Holmøy (Chief Financial Officer) has been granted 152 500 share options. Following the grant, Holmøy holds 37 420 shares through his wholly owned company J12 Invest AS and 967 500 share options in the Company.
  • Espen Klovning (Chief Technology Officer) has been granted 285 000 share options. Following the grant, Klovning holds 174 670 shares through his wholly owned company Vicuri AS and 1 070 490 share options in the Company.
  • Brian Daly (Senior VP of Sales and Business Development) has been granted 285 000 share options. Following the grant, Daly holds 572 560 share options in the Company.
  • Britt Narmo (HR Manager) has been granted 35 319 share options. Following the grant, Narmo holds 8 000 shares and 96 679 share options in the Company.
  • Mathias Norderud (Financial Manager) has been granted 3 559 share options. Following the grant, Norderud holds 0 shares and 44 909 share options in the Company.

See the enclosed forms for further details about the transactions.

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

This information is published in accordance with the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.

About Elliptic Labs

Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. Founded in 2006 as a research spin-off from Norway's Oslo University, the company's patented software uses AI, ultrasound and sensor-fusion to deliver intuitive 3D gesture, proximity, presence, breathing and heartbeat detection experiences. Its scalable AI Virtual Smart Sensor Platform™ creates software-only sensors that are sustainable, human-friendly and already deployed in hundreds of millions of devices around the world. Elliptic Labs is the only software company that has delivered detection capabilities using AI software, ultrasound, and sensor-fusion deployed at scale. The company joined the Oslo Børs main list in March 2022. Elliptic Labs is headquartered in Norway with presence in the USA, China, South Korea, Taiwan, and Japan. Its technology and IP are developed in Norway and are solely owned by the company.