Oslo, 2 July 2024

Reference is made to the stock exchange announcement by Observe Medical ASA ("Observe Medical" or the "Company", OSE ticker: OBSVR) on 24 June 2024 (the "Announcement"), regarding share lending by Ingerø Reiten Investment Company AS and ELI AS(jointly the "Share Lenders")in connection with the private placement of new shares in the Company (the "Private Placement").

The share capital increase pertaining to tranche 1 of the Private Placement has now been registered, as announced by the Company earlier today, and the shares that were lent by each of the Share Lenders have been redelivered.

Following the return of the lent shares, Ingerø Reiten Investment Company AS holds 37,384,437 shares in the Company (representing approximately 16,34% of the issued share capital and votes). Consequently, Ingerø Reiten Investment Company AS' shareholding has crossed the 15% threshold pursuant to Section 4-2 (1) cf. (3) of the Norwegian Securities Trading Act.

For more information about the redelivery of the lent shares, see the attached forms.

This information is subject to disclosure requirements pursuant to Article 19 of

Regulation EU 596/2014 (the EU Market Abuse Regulation) and Sections 4-2 and 5

-12 of the Norwegian Securities Trading Act.

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.