Oslo, 25 June 2024

Reference is made to the announcement made by Observe Medical ASA (the "Company"
or "Observe Medical", and, together with its subsidiaries, the "Group", OSE
ticker "OBSRV") yesterday, on 24 June 2024, regarding the successfully placed
private placement of new shares in the Company to raise gross proceeds of NOK 22
million (the "Private Placement").

The Company is in this respect pleased to announce that members of the board of
directors and members of the management or their close associates have been
allocated shares in the Private Placement, as set out below:

Terje Bakken (Chair)(through Kikinn Invest AS), Line Tønnesen (Board member),
Kathrine G. Andreassen (Board member)(through Soleglad Invest AS), Eskild
Endrerud (Board member)(directly and through Athend Holding AS) - shares for in
total NOK 1,100,000.

Jørgen Mann (CEO), Rune Nystad(CDO), Johan Fagerli (CFO) - shares for in total
NOK 650,000.

In addition, Ingerø Reiten Investment Company AS (represented on the board by
Terje Bakken) has been allocated shares for NOK 2,250,000, and ELI AS
(represented on the board by Eskild Endrerud) has been allocated shares for NOK
1,200,000.

In connection with the Private Placement the Company has received commitments
for approximately NOK 25 million, which is in the higher end of the original
range of NOK 21-26 million, when including the conditional investment
undertaking of USD 300,000 from Jiangsu Hongxin  Medical Technology Co., Ltd,
which is the Company's largest partner within manufacturing and supply of the
group's branded medical products. Reference is in this respect made to the
Group's announcement regarding such commitment on 24 June 2024.

"We are very pleased and appreciative for the strong vote of confidence
demonstrated from our investors, including both primary insiders and our key
strategic partner. This participation underlines their deep belief in Observe
Medical's future potential and commitment to the company's long-term success,"
said Jørgen Mann, CEO of Observe Medical.

The allocation to the above primary insiders and their close associates is
conditional upon inter alia the extraordinary general meeting (the "EGM")
resolving to issue shares in tranche 2 of the Private Placement. More
information about the primary insiders' and their close associates'
participation, including for purposes of complying with disclosure requirements
pursuant to Article 19 of Regulation EU 596/2014 (the EU Market Abuse
Regulation), will be published following the EGM. Reference is made to the
announcement regarding the Private Placement for additional information about
the Private Placement and the upcoming EGM.

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

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

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.