Oslo, 24 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") earlier today, 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 Jiangsu Hongxin Medical
Technology Co., Ltd ("Jiangsu Hongxin"), the Group's largest partner within the
manufacturing and supply of urine measurement products, in connection with the
Private Placement conditionally has undertaken to subscribe for shares in the
Company for an amount equal to the NOK-equivalent of USD 300,000, at a
subscription price per share of NOK 0.40 (which is equal to the offer price in
the Private Placement). The undertaking is conditional upon Jiangsu Hongxin
establishing a securities account in which such shares can be held prior to 15
September 2024. If such condition is satisfied, the Company intends to carry out
a separate directed share issue of the relevant number of shares to Jiangsu
Hongxin, subject to the extraordinary general meeting to be held on or about 17
July 2024 granting the board of directors an authorisation to issue new shares.

Reference is made to the announcement regarding the Private Placement for
additional information about the Private Placement and the upcoming
extraordinary general meeting.

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 considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements according
to Section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by Johan Fagerli, CFO, on 24 June 2024 at the time set
out above.

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.