Oslo, 1 November 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 third quarter of 2023. With growth across the
company's three core product areas, Prescription Drugs (RX), Consumer Health and
Hospital, year to date, Navamedic has delivered another record quarter. Revenues
for the third quarter amounted to NOK 141 million, corresponding to a 51.9 per
cent increase Year-over-Year.

The company's gross margin was 37.6 per cent, down from 42.5 per cent in the
third quarter of 2022. Adjusted EBITDA (EBITDA less acquisition cost) amounted
to NOK 17.4 million, up from NOK 12.7 million in the corresponding quarter of
2022. Operating results (EBIT) amounted to NOK 12.7 million, compared to NOK
10.9 million in the same period last year.

"Over the last few months, we have demonstrated that consistent and disciplined
execution of our strategy can produce significant revenue growth. It is also the
first quarter where we see the YoY effect of the products acquired through
Impolin. With a broad customer base across our three product areas, we have
managed to maintain growth and gain traction in new and existing markets.
Today's broad product portfolio also enable us to offer treatments to patients
suffering from a variety of illnesses and disorders, from Parkinson's disease
and obesity to gastro and pain," commented Kathrine Gamborg Andreassen, CEO of
Navamedic.

During the quarter, Navamedic has shown that the path to becoming a NOK 1
billion revenue company is within reach. Moving forward, the company plans to
continue growing through M&A and to proactively seek opportunities to secure and
increase the portfolio value through the in-licensing and out-licensing of
products and brands whilst exploring growth opportunities in additional markets
worldwide.

Following the acquisition of Sensidose AB, the company has established a
commercial strategy for Flexilev (Myfid), starting with a commercial launch in
Norway and Denmark. Flexilev (Myfid) currently has marketing authorisation in a
total of 10 countries and is reimbursed in all of the Nordic countries.

Navamedic will present the third quarter 2023 results at 08.30 today. The
presentation will take place at Haakon VIIs gate 2 in Oslo, and will be
available to follow via webcast at the following link:
https://navamedic.com/investors/financial-results/

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

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 third-quarter presentation on slide 22.

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 Navamedic.com.

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