NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE
PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES
DESCRIBED HEREIN. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS
ANNOUNCEMENT.

Oslo, 17 November 2023: Reference is made to the stock exchange announcement
made by Observe Medical ASA (the "Company") on 1 November 2023 regarding the
proposed rights issue and notice of extraordinary general meeting in connection
with the rights issue. As set out in the notice, the Company has received loans
from its largest shareholders, which the lenders may choose to utilize
(including accrued and unaccrued interest calculated up to and including the
agreed maturity date) fully or partly to set-off against the subscription amount
to be paid upon any subscription of shares in the Company during the terms of
the loans.

The Company has discovered an error in the calculation of interests on the
abovementioned loans, and hence the total set-off amounts including interests
set out in Appendix 4 to the notice of the extraordinary general meeting are not
correct. A new version of Appendix 4 with corrected numbers is attached to this
stock exchange announcement and made available on  the Company's website
https://observemedical.com/investor-relations/.

As a consequence of the above, the report from the independent expert regarding
the share capital increase by conversion of debt, attached to the notice of the
extraordinary general meeting as Appendix 3, has been updated to reflect the
corrected amounts. A new version of Appendix 3 is attached to this stock
exchange announcement and made available on  the Company's website
https://observemedical.com/investor-relations/.

No other changes have been made to the notice of the extraordinary meeting to be
held on 22 November 2023.

For further information, please contact:

Rune Nystad, CEO Observe Medical

Mobile: +47 916 24 683

E-mail: rune.nystad@observemedical.com

Per Arne Nygård, CFO Observe Medical

Mobile: +47 411 04 345

E-mail: perarne.nygard@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
commercialization of its broad portfolio of medical technology products, mainly
in urine measurement, ultrasound, anesthesiology/ICUs, surgery and wound care,
in combination with targeted M&A.

The Company is headquartered in Oslo, Norway, with additional offices in Narvik,
Norway and Gothenburg, Sweden, and subsidiaries in Finland and the US. In
addition, Observe Medical has a direct sale organization in the Nordics and a
distributor network internationally.

Further information is available at www.observemedical.com.