Oslo, 17 July 2024

Reference is made to the stock exchange announcement by Observe Medical ASA ("Observe Medical" or the "Company", OSE ticker: OBSVR)) on 26 June 2024, regarding notice of an extraordinary general meeting in connection with a private placement and contemplated subsequent offering in the Company.

The extraordinary general meeting was held today, on 17 July 2024, at 14.00 hours (CEST). All resolutions proposed by the board of directors were approved, including (i) the issuance of 16,862,962 offer shares to complete tranche 2 of the private placement, (ii) granting the board of directors an authorisation to increase the Company's share capital by up to NOK 8,450,000, in connection with the contemplated subsequent offering, and (iii) granting the board of directors a general authorisation to increase the Company's share capital by up to NOK 12,775,630, in order to finance further growth. 

A detailed description of the subsequent offering, including the terms and conditions, as well as factors to consider when subscribing for shares in the subsequent offering, will be disclosed in an offer and listing prospectus to be published before the subscription period for the subsequent offering begins. It is expected that the subscription period for the subsequent offering will last from 19 September 2024 at 09:00 to 3 October 2024 at 16:30, provided that the prospectus for the subsequent offering is approved in time.

The minutes from the extraordinary general meeting are enclosed hereto and will also be available on the Company's website www.observemedical.com/investor-relations.

For further information, please contact:

Jørgen Mann, Interim CEO Observe Medical

Mobile: +45 408 67 558

E-mail: jorgen.mann@observemedical.com

Johan Fagerli, CFO Observe Medical

Mobile: +47 958 12 765

E-mail: johan.fagerli@observemedical.com

About Observe Medical:

Observe Medical is a Nordic medtech company that develops, markets and sells innovative medtech products for the global market. The Company is committed to improving patient welfare and patient outcomes, improving clinical data accuracy and promoting positive health economics.

The Company seeks to drive growth by leveraging its expertise in sales and commercialisation of its broad portfolio of medical technology products, mainly in urine measurement and ultrasound, in combination with targeted M&A and distribution. Observe Medical is working with a network of leading distributors to provide outstanding solutions for healthcare professionals globally.

The Company is headquartered in Oslo, Norway.

Further information is available at www.observemedical.com.

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