Oslo, 10 May 2022 - Navamedic ASA (OSE: NAVA), a Nordic pharma company and

reliable provider of high-quality products to hospitals and pharmacies, grew
revenues with 7.4 percent in the first quarter of 2022 compared to the same
period in 2021.

"We had a solid first quarter with continued growth driven by new product
launches and strong development for existing products within medical nutrition,
consumer health and branded generics. Our type of business will always
experience some volatility in revenue growth from quarter to quarter due to
pipeline effects, and in the first quarter, we experienced a temporary halt in
the supply of our obesity product Mysimba. These supply challenges have been
resolved and we will receive delivery of Mysimba in May. We are still on track
to meeting our target of 20 percent annual organic growth for 2022 and onwards,"
said Kathrine Gamborg Andreassen, CEO of Navamedic.

Navamedic's 12 months rolling revenue grew 33 percent year on year to NOK 283
million in the first quarter, and the company has delivered positive rolling 12
months EBITDA for five consecutive quarters.

"We have proven our growth model over time and continue to deliver on our
ambition to untap the full potential of our existing portfolio, enter into new
distribution agreements, develop new brands and do bolt-on acquisitions of
products and portfolios. Today we announce an updated mid-term ambition of
becoming a NOK 1 billion revenue company," said Kathrine Gamborg Andreassen.

Navamedic's gross margin was 39.4 percent in the first quarter, unchanged
compared to the same period in 2021. EBITDA was NOK -0.4 million compared to NOK
2.6 million in the first quarter last year. The reduced EBITDA was a result of
increased marketing spend related to launches of new products.

"In the first quarter we successfully launched SmectaGO®, an innovative on-the
-go product for treatment of diarrhea, and we target the launch of at least one
new product in one of our countries in each launch window," said Kathrine
Gamborg Andreassen.

Navamedic also continues to execute on its M&A strategy. In May 2022 the
acquisition of Impolin AB was announced, reinforcing Navamedic's position in the
market for obesity treatment. Impolin's portfolio consists of products with a
strong position in Sweden, and Navamedic's ambition is to launch Modifast, a
range of diet and meal replacement products, in Norway in 2023, followed by
rollout in Finland and Denmark.

***

Navamedic is hosting a presentation of the first quarter 2022 financial results,
Tuesday 10 May 2022 at 08.30 CEST. The presentation will be held at Haakon VII
Gate 2 in Oslo as well as via webcast on www.navamedic.com/investors/financial
-results under '2022'. Representatives from Navamedic will be CEO Kathrine
Gamborg Andreassen and CFO Lars Hjarrand.

EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the IFRS financial statements as a part of the APM section of the
attached first quarter 2022 presentation on slide 26.

For further information, please contact:

Kathrine Gamborg Andreassen, CEO, Navamedic

Mobile: +47 951 78 680

E-mail: kathrine@navamedic.com

Lars Hjarrand, CFO, Navamedic

Mobile: +47 917 62 842

E-mail: lars.hjarrand@navamedic.com

Navamedic ASA is a Nordic full-service provider of high-quality products to
hospitals and through pharmacies. Navamedic meets the specific needs of patients
and consumers by leveraging its highly scalable market access platform, leading
category competence and local knowledge. Navamedic is present in all the Nordic
countries, the Baltics and Benelux, with sales representation in the UK and
Greece. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock
Exchange (ticker: NAVA).

For more information, please visit www.navamedic.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock
exchange announcement was published by Lars Hjarrand at the time and date set
out above.