Mandatory Notification of Trade — Granting of Stock Options to Primary Insiders

Oslo, Norway — Elliptic Labs (EuroNext Growth: ELABS.OL), a global AI software company and the world leader in Virtual Smart Sensors, is announcing that 25,000 share options have on the 23rd of June 2021 been granted to Brian Daly, VP, Sales and Business Development as part of the Share Option Scheme approved by the Board of Direction and Annual General Assembly. The strike price for the options is NOK 178,40. Strike price is based on volume weighted average price (VWAP) 30 days before subscription date as verified by Optio Incentives AS (Organization number: 919 345 578).

Subscription Date: 18 June 2021.

In connection with his appointment as Chief Financial Officer 81,500 share options has on 23.06.2021 been granted to Lars Holmøy. The strike price for the options is NOK 111,04. Strike price is based on volume weighted average price (VWAP) 30 days before subscription date as verified by Optio Incentives AS (Organization number: 919 345 578). Subscription Date: 08 February 2021 which is signatory date of employee contract.

After this Brian Daly holds 60,000 options and 0 shares and Lars Holmøy holds 81,500 options and 1,500 shares.

The options have a 3-year vesting period and vests in equal parts yearly and have an expiry date 2 years after the last vesting period.

Please see attachment for information on options allocated to primary insiders.

For further information:
Lars Holmøy, CFO
Tel +47 40284028
[email protected]

This information is subject to disclosure requirements set out in the Market Abuse Regulation EU 596/2014 Article 19.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.