000-000-0000 [email protected]

Reference is made to the stock exchange notice by Elliptic Laboratories ASA's ("Elliptic Labs" or the "Company") on 29 May 2022 regarding the share capital increase resolved by the Company's board of directors upon the exercise of options under the Company's share option program.

The share capital increase pertaining to the issuance of new shares has been registered with the Norwegian Register of Business Enterprises:

Share capital: NOK 1 040 508.70
Total number of shares: 104 050 870
Par value of each share: NOK 0.01

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

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 create Virtual Smart Sensors that 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 is listed on the Oslo Børs.

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.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act and the Oslo Rule Book II.