Observe Medical ASA - Exercise and sale of subscription rights by close associates of primary insiders

Reference is made to the stock exchange announcement published by Observe Medical ASA (the "Company") on 27 November 2023 regarding the allocation of subscription rights (the "Subscription Rights") in the rights issue to primary insiders and close associates. Ingerø Reiten Investment Company AS, a closely associated person of primary insider Terje Bakken, has exercised 27,730,757 Subscription Rights, entitling Ingerø Reiten Investment Company AS to be allocated 27,730,757 offer shares in the Rights Issue at a price per offer share of NOK 0.26, subject to the Rights Issue being completed. Furthermore, a close associate has sold their Subscription Rights. For more information see the attached mandatory notifications of trade. This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act. For further information about the Company, please contact: Rune Nystad, CEO Observe Medical Mobile: +47 916 24 683 E-mail: rune.nystad@observemedical.com Per Arne Nygård, CFO Observe Medical Mobile: +47 411 04 345 E-mail: perarne.nygard@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 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.