Reference is made to the key information relating to the preferential rights
issue published by Observe Medical ASA (the "Company") on 14 January 2022.
Please see below for updated key information relating to the preferential rights
issue to be carried out by the Company:

Date on which the terms and conditions of the preferential rights issue were
announced: 14 January 2022

Last day including right: 4 February 2022

Ex-date: 7 February 2022

Record Date: 8 February 2022

Number of new shares: 25,714,286

Subscription price: NOK 7.0

Ratio subscription rights: Each existing shareholder as of 4 February 2022 (and
being registered as such in Euronext Securities Oslo, the Norwegian Central
Securities Depository, (the VPS) as at the expiry of 8 February 2022 (the record
date)) will be granted 1.3116 subscription rights for each share registered as
held by the shareholder. The number of subscription rights granted to each
existing shareholder will be rounded down to the nearest whole subscription
right.

Subscription ratio: 1:1 (number of new shares per subscription right)

Managers: Carnegie AS and DNB Markets, a part of DNB Bank ASA

Will the subscription rights be listed: Yes (ticker code "OBSRT")

ISIN for the subscription rights: NO 001 2422197

Date of approval: 4 February 2022

Other information: The preferential rights issue is subject to approval by the
extraordinary general meeting of the Company, which will be held on 4 February
2022.

For further information about the Company, please contact:

Björn Larsson, CEO of Observe Medical,

Mobile: +46 76 620 17 25

E-mail: bjorn.larsson@observemedical.com

Per Arne Nygård, CFO of Observe Medical,

Mobile: +47 411 04 345

E-mail: perarne.nygard@observemedical.com

For information about the Rights Issue please contact the Managers:

Carnegie AS, tel.: +47 22 00 93 40

DNB Markets, tel.: +47 23 26 81 01

About Observe Medical

Observe Medical develops and markets and sells innovative hospital products that
contribute to increased patient safety and a more efficient care system. The
company's ambition is to drive growth by leveraging its expertise in sales and
commercialization of its broad portfolio of medical technology products, mainly
in the areas of Urine measurement, Anesthesiology/ICUs and wound care, in
combination with targeted M&A. The company's headquarter is in Oslo, Norway and
its operations is based out of Gothenburg, Sweden. Observe Medical has a direct
sales organization in the Nordics and a distributor network internationally.
Observe Medical's product Sippi® is the only automated digital urine meter with
possibility for wireless data transfer to the hospital patient data management
systems and hinders bacterial migration that can lead to urinary infections
(SippCoat®). Sippi® is CE marked and is currently being launched with focus on
selected markets and hospitals in Nordics and in Europe.