Oslo, 15 February 2024 - Navamedic ASA (OSE: NAVA), a Nordic pharma company and
reliable provider of high-quality products to hospitals and pharmacies, today
announced its results for the fourth quarter and for the full year 2023.
Revenues for the year was up 34 per cent to NOK 512 million, mainly by organic
growth. For the first time all three product categories were above the NOK 100
million mark.

The company's gross margin was 38.9 per cent for the year, down from 42.8 per
cent in the year before. Adjusted EBITDA (EBITDA less acquisition cost) amounted
to NOK 51.6 million, compared with NOK 51.7 million in 2022.

Operating results (EBIT) amounted to NOK 23.6 million, compared to NOK 44.4
million in 2022. Operating costs were higher than in 2022, mostly due to
continued investments in growth initiatives. Also included in the EBITDA is a
negative contribution of 4.8 MNOK from the Sensidose business.

"We are looking back at an eventful and transformative year. With the Sensidose
acquisition, we gained a promising position in the market for treatment of
Parkinson's Disease, and we renewed and secured new marketing and distribution
agreements for several other high selling products, including Eroxon®, a
clinically proven treatment of erectile dysfunction. Eroxon® was launched in
Norway this week and will soon also be available in Sweden," said Kathrine
Gamborg Andreassen, CEO of Navamedic.

"Furthermore, in the fourth quarter 2023, we signed a term sheet with the
Finnish pharmaceutical corporation Orion Pharma, which we are currently
finalising into an agreement for a licensing and supply of Flexilev® and OraFID®
in Europe, products that were acquired through Sensidose. In Sweden, Norway and
Denmark, we will market and sell these products from our own proven platform,"
Andreassen added.

Revenues in the fourth quarter of 2023 was NOK 125 million, up 8.1 percent from
the same period last year. Gross margin was 36.5 per cent, down from 42.9 per
cent, and Adjusted EBITDA was NOK 7.9 million, compared with NOK 15.7 million in
the fourth quarter of 2022.

Category update

In the Consumer Health category, Modifast cemented its position with continued
strong sales in Sweden, and Absolute Torr gained traction with a 54 per cent
growth year-over-year in the fourth quarter.  Further growth to be achieved
through combination of consumer and pharmacy engagement, sale of unique and
profitable products in home markets and out-licensing of own products elsewhere.

The Hospital category saw double-digit growth year-over-year across the
portfolio of antibiotics and medical nutrition products. It also renewed
exclusive rights to Vitaflo's medical nutrition products across the Nordic for
five more years. Winning new antibiotic tenders is core in the growth strategy,
along with initiatives to expand and secure new marketing authorisations.

The Prescription Drugs category had strong growth across various therapeutic
areas, with continued high demand for Mysimba for obesity treatment, and strong
sales of Imdur, Nitrolingual and Forlax. In this category, Navamedic is now
preparing rollout of Flexilev with MyFID® and OraFID® in the Nordic countries
and out-licensing in the rest of Europe.

Outlook

Navamedic sees continued strong growth and new expansion opportunities and
reiterates its mid-term ambition of building a NOK 1 billion revenue company
with a 15 per cent EBITDA margin.

"We are building on a solid foundation. We will continue to strengthen our
existing business by leveraging our highly scalable market access platform. We
will explore opportunities for market expansion with own products and increase
company value by acquiring and strengthening own products and brands while
increasing gross margins through careful management of our product portfolio,"
Andreassen concluded.

Navamedic will present the results for the fourth quarter and full year 2023 at
08.30 today. 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://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 presentation on slide 23.

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.