Oslo, 11 May 2023 - Navamedic ASA (OSE: NAVA), a Nordic pharma company and
reliable provider of high-quality products to hospitals and pharmacies, today
announces its results for the first quarter of 2023. Navamedic experienced good
momentum across the business and delivered another strong quarter, with record
high revenues of NOK 121.7 million, representing an increase of 93.3 per cent
compared to the first quarter of 2022.

In the first quarter of 2023, Navamedic's gross margin was 41.3 per cent, an
increase from 39.4 per cent from the corresponding quarter in 2022. EBITDA for
the quarter was NOK 15.8 million compared to NOK -0.4 million in the first
quarter of 2022. Operating profit (EBIT) amounted to NOK 13.9 million compared
to NOK -2.2 million in the same quarter last year. Additionally, Navamedic
achieved organic growth of 70.5 per cent compared to the first quarter of 2022.

"We have had a strong start to 2023, and we are now well on our way to becoming
a NOK 1 billion company. Our growth is driven by the successful build-up of our
diversified product categories, and we have experienced continued demand for
products across our business areas," commented Kathrine Gamborg Andreassen, CEO
of Navamedic.

Increased demand has resulted in revenue growth across the company's three core
business areas: Prescription drugs (RX), Consumer Health and Hospital.

At the end of the period and in line with Navamedic's M&A strategy, the company
announced it had submitted a recommended cash offer to acquire all shares in
Sweden-based Sensidose AB, a pharmaceutical company targeting patients with
advanced Parkinson's disease. Sensidose AB sells drugs in combination with an
innovative medical device for individual dosing. As of 10 May, Navamedic held
6.9 million (57.9 per cent) shares in Sensidose AB and 426,577 warrants of
series TO 1.

Post-period, Navamedic acquired the rights to distribute and sell Alflorex®, an
over-the-counter product for irritable bowel syndrome (IBS), in Sweden. The
agreement follows Navamedic's initial agreement with Novozymes in 2019, and with
additional rights to distribute Alflorex® in Sweden, Navamedic has increased its
market share in Sweden.

Navamedic will host a presentation on Thursday,11 May, starting at 08.30 CEST.
The presentation will take place at Dronning Eufemias Gate 16 in Oslo, and will
be available to follow via webcast at the following link:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20230511_4

Representatives from Navamedic's management team, CEO Kathrine Gamborg
Andreassen and CFO Lars Hjarrand will host the presentation.

The presentation will also be made available at
www.navamedic.com/investors/financial-results.

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 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: +47917 62 842

E-mail: lars.hjarrand@navamedic.com

About Navamedic

Navamedic ASA is a full-service provider of high-quality healthcare products to
hospitals and pharmacies. Navamedic meets the specific medical 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 subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.