Oslo, 5 August 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 16,862,962 Offer Shares
in the second tranche of the Private Placement (the "Tranche 2 Shares") has
today been registered with the Norwegian Register of Business Enterprises (Nw.
Foretaksregisteret).

The Company's share capital is NOK 63,878,153.04, divided into 245,685,204
shares, each with a nominal value of NOK 0.26.

The Tranche 2 Shares will be issued on a temporary ISIN and will not be tradable
on Euronext Expand until the Company has published a listing prospectus for such
shares approved by the Financial Supervisory Authority of Norway
(Finanstilsynet), which is expected to occur on our around 18 September 2024.

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.