Oslo, 2 July 2024

Reference is made to the stock exchange announcement by Observe Medical ASA
("Observe Medical" or the "Company", OSE ticker: OBSVR) on 24 June 2024,
regarding the successfully placed private placement of 55,000,000 new shares in
the Company (the "Offer Shares") at a subscription price of NOK 0.40 per Offer
Share to raise gross proceeds of NOK 22 million (the "Private Placement").

The share capital increase pertaining to the issuance of 38,137,038 Offer Shares
in the first tranche of the Private Placement has today been registered with the
Norwegian Register of Business Enterprises (Nw. Foretaksregisteret).

The Company's share capital is NOK 59,493,782.92, divided into 228,822,242
shares, each with a nominal value of NOK 0.26. For more information about the
Private Placement, please see the above mentioned announcement.

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.

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