Regulatory press release

Elliptic Labs Appoints Sandstad and Norderud CEO and CFO on permanent basis

Oslo, Norway, 4 March 2026 - Elliptic Labs (OSE: ELABS) today announces that its Board of Directors has resolved to appoint Ola Sandstad as Chief Executive Officer (CEO) and Mathias Norderud as Chief Financial Officer (CFO) on a permanent basis. Both have served in their respective roles on an interim basis.

Ola Sandstad has been with Elliptic Labs since May 2021, holding positions including SVP of Product Development and Investor Relations manager. He has served as interim CEO since November 2025 and has played a central role in driving the company’s strategic development during this period.

Mathias Norderud joined Elliptic Labs in September 2021 and held the roles of Senior Finance Manager prior to serving as interim CFO since September 2025. During this period, he has been responsible for strengthening the company’s financial organization, reporting, and operational discipline.

“The Board would like to thank Sandstad and Norderud for their leadership and steady execution during this transitional period. They have ensured continuity, operational focus, and financial discipline while positioning the company for its next phase. We are confident that appointing them permanently provides the stability and leadership needed as Elliptic Labs scales and delivers on its strategic ambitions”, says Chairman of the Board, Svenn-Tore Larsen in Elliptic Labs.

The appointments are effective immediately.

Contacts:
CEO Ola Sandstad, ola.sandstad@ellipticlabs.com
CFO Mathias Norderud, mathias.norderud@ellipticlabs.com

About Elliptic Labs
Elliptic Labs is a global Edge AI company delivering trusted, low-power on-device sensing at scale. Our AI Virtual Smart Sensor Platform™ enables intelligent, always-on contextual awareness directly on devices — without the need for additional hardware or continuous cloud processing.

Deployed in over 500 million devices worldwide, our platform powers software-defined sensing across a broad range of consumer and enterprise products. By executing compact neural networks directly on-device, our technology delivers adaptive, real-time sensing that preserves user privacy while minimizing power consumption.

For more than a decade, Elliptic Labs has specialized in efficient neural network execution using proprietary runtimes and custom-built sensing models optimized for real-world environments. Built on balanced, self-collected datasets and engineered to operate across diverse hardware architectures, our AI Virtual Smart Sensors enable seamless integration across product generations and device categories.

Our solutions enhance security, personalization, productivity, and user experience — forming a scalable foundation for the next generation of AI-enabled devices.

Headquartered in Norway, with a presence in the USA, China, South Korea, Taiwan, and Japan, Elliptic Labs is listed on the Oslo Stock Exchange. All technology and intellectual property are developed in Norway and are solely owned by the company, ensuring independence and long-term innovation.