OBSERVE MEDICAL ASA – Extraordinary general meeting held

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcements published by Observe Medical ASA (the "Company") on 1 November 2023 and 21 November 2023, regarding a proposed rights issue of share with subscription rights for existing shareholders in the Company (the "Rights Issue").

The extraordinary general meeting of the Company has today, on 22 November 2023, approved the Rights Issue as proposed by the Board of Directors. The minutes from the extraordinary general meeting are enclosed hereto and will also be available on the Company's website (www.observemedical.com/investor-relations), in the Investor-relations/Governance section.

The full terms and conditions for the Rights Issue will be included in a prospectus, which will be published prior to the commencement of the subscription period for the Rights Issue. The subscription period is expected to take place from 28 November 2023 09:00 hours (CET) to 12 November 2023 at 16.30 (CET).

For further information about the Company, please contact:

Rune Nystad, CEO Observe Medical

Mobile: +47 916 24 683

E-mail: [email protected]

Per Arne Nygård, CFO Observe Medical

Mobile: +47 411 04 345

E-mail: [email protected]

This stock exchange announcement was published by Per Arne Nygård, CFO on 22 November 2023 at 10:40 (CET) on behalf of the Company.

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 commercialization of its broad portfolio of medical technology products, mainly in urine measurement, ultrasound, anesthesiology/ICUs, surgery and wound care, in combination with targeted M&A.

The Company is headquartered in Oslo, Norway, with additional offices in Narvik, Norway and Gothenburg, Sweden, and subsidiaries in Finland and the US. In addition, Observe Medical has a direct sale organization in the Nordics and a distributor network internationally.

Further information is available at www.observemedical.com.

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