Oslo, 24 June 2024

Reference is made to the stock exchange announcement by Observe Medical ASA
("Observe Medical" or the "Company", OSE ticker: OBSVR) earlier today (the
"Announcement"), regarding the private placement of new shares in the Company
(the "Private Placement").

As further described in the Announcement, the Private Placement consists of two
tranches, of which tranche 1 comprises 38,137,038 offer shares ("Tranche 1") and
tranche 2 comprises 16,862,962 offer shares ("Tranche 2"), the latter subject to
a resolution by the extraordinary general meeting of the Company to issue the
new shares allocated to investors in Tranche 2.

To facilitate delivery-versus-payment settlement in the Private Placement,
Ingerø Reiten Investment Company AS and ELI AS(jointly the "Share Lenders") have
agreed to lend existing shares in the Company to Carnegie AS (the "Settlement
Agent") in accordance with a share lending agreement (the "Share Lending
Agreement") entered into between the Share Lenders, the Settlement Agent and the
Company on 24 June 2024. Reference is made to the Announcement for further
details. For more information about the share lending to facilitate settlement
of offer shares in Tranche 1, see the attached forms.

Ingerø Reiten Investment Company AS has lent to the Settlement Agent 37,300,000
shares in the Company to facilitate settlement of Tranche 1. Prior to such share
lending, Ingerø Reiten Investment Company AS holds 37,384,437 shares in the
Company (representing approximately 19.61% of the issued share capital and
votes). During the term of the lending of said shares, Ingerø Reiten Investment
Company AS' shareholding in the Company will be reduced to 84,437 shares,
representing approximately 0.04% of the shares and votes in the Company.
Consequently, Ingerø Reiten Investment Company AS' shareholding has fallen below
the 5.00% threshold pursuant to Section 4-2 (1) cf. (3) of the Norwegian
Securities Trading Act.

This information is subject to disclosure requirements pursuant to Article 19 of
Regulation EU 596/2014 (the EU Market Abuse Regulation) and Sections 4-2 and 5
-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Jørgen Mann, Interim CEO Observe Medical

Mobile: +45 408 67 558

E-mail: jorgen.mann@observemedical.com

Johan Fagerli, CFO Observe Medical

Mobile: +47 958 12 765

E-mail: johan.fagerli@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
commercialisation of its broad portfolio of medical technology products, mainly
in urine measurement and ultrasound, in combination with targeted M&A and
distribution. Observe Medical is working with a network of leading distributors
to provide outstanding solutions for healthcare professionals globally.

The Company is headquartered in Oslo, Norway.

Further information is available at www.observemedical.com.