Observe Medical ASA – Disclosure of voting rights at the Extraordinary General meeting

Oslo, 2 February 2022: In connection with the extraordinary general meeting of Observe Medical ASA (the "Company") to be held on 4 February 2022 (the "EGM"), Terje Bakken, chairman of the board of directors of the Company, has as at the close of trading on the Oslo Stock Exchange on 2 February 2022, received proxies without voting instructions for 1,465,002 shares or 7.47% of the total shares and voting rights in the Company. The proxies are only valid at the EGM.

In addition, Terje Bakken represents Ingerø Reiten Investment Company AS at the board of directors of the Company, who holds 3,939,394 shares or 20.09% of the total shares and voting rights in the Company. Hence, following the receipt of the proxy, Terje Bakken controls 27.56% of the total shares and voting rights in the Company at the EGM.

This information is subject to the disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.