Observe Medical ASA (the "Company") has today, on 21 February 2022, received an order for  30 Sippi® Base units and 300 Sippi® Disposable units from Skamex. The total order value for the Company is approximately EURO 10,000 as these products will be delivered based on the initial launch period pricing agreed with Skamex, valid until the end of the first quarter 2022. Expected delivery of the order is late Q1 or early Q2 2022. The Company entered into the distribution agreement with Skamex, a leading Distributor of medtech products in Poland and Romania, in June 2021.

Sippi® is the only automated digital urine meter with the possibility for wireless data transfer to the hospital patient data management systems and hinders bacterial migration that can lead to urinary infections. Sippi® is CE marked and is currently being rolled-out with focus on selected markets and hospitals in Europe.

For further information, please contact:

Björn Larsson, CEO of Observe Medical,

Mobile: +46 76 620 17 25

E-mail: bjorn.larsson@observemedical.com

Per Arne Nygård, CFO of Observe Medical,

Mobile: +47 411 04 345

E-mail: perarne.nygard@observemedical.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Per Arne Nygård, CFO of Observe Medical ASA, on 21 February 2022 at 12:45 CET on behalf of the Company.

About Observe Medical

Observe Medical develops and markets and sells innovative hospital products that contribute to increased patient safety and a more efficient care system. The Company's ambition is to drive growth by leveraging its expertise in sales and commercialization of its broad portfolio of medical technology products, mainly in the areas of Urine measurement, Anesthesiology/ICUs, surgery and wound care, in combination with targeted M&A. The Company is headquartered in Oslo, Norway and its operations are based out of Gothenburg, Sweden. Observe Medical has a direct sales organization in the Nordics and a distributor network internationally. Sippi®, the Company's first proprietary product, is the only automated digital urine meter with the possibility for wireless data transfer to the hospital patient data management systems and hinders bacterial migration that can lead to urinary infections (SippCoat®). Sippi® is CE marked and is currently being rolled-out with a focus on selected markets and hospitals in Europe.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.