Disclosure of large shareholding

Mandatory disclosure pursuant to section 4-2 of the Norwegian Securities Trading Act by JPB AS.

Reference is made to Observe Medical ASA's (the "Company") stock exchange announcement on 10 March 2022 regarding the registration of the share capital increase  pertaining to the 8,171,913 new shares in the Company with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret), issued as partial consideration to the sellers of Biim Ultrasound AS (the "Consideration Shares").

Following the registration of the share capital increase pertaining to the Consideration Shares, the share capital of the Company is NOK 13,907,830.56, divided into 53,491,656 shares, each with a nominal value of NOK 0.26.

Prior to the registration of the share capital increase, JPB AS owned 502,000 shares in the Company. JPB AS will receive 2,328,095 Consideration Shares and thereby own 2,830,095 shares in the Company, equal to 5.29% of the issued and outstanding shares and votes in the Company. JPB AS will as such cross the notifiable threshold of 5 % pursuant to section 4-2 of the Norwegian Securities Trading Act.