Observe Medical ASA – Primary insider notice

Reference is made to the ongoing rights issue of 4,090,909 new shares to a subscription price of NOK 11.00 (the "Offer Shares") in Observe Medical ASA (the "Company") as announced in the Company's stock exchange announcement on 19 June 2020 (the "Rights Issue").

Navamedic ASA ("NAVA"), represented at the Company's board of directors by Kathrine Gamborg Andreassen, has today, on 25 June 2020, in total subscribed for 1,022,727 Offer Shares of which 853,235 Offer Shares were subscribed through the exercise of subscription rights and 169,492 Offer Shares were over-subscribed.

Subject to NAVA receiving full allocation for its subscription of Offer Shares pursuant to the allocation criteria for the Rights Issue, NAVA, with its related parties, will own 4,222,727 shares in the Company, equal to approximately 21.73% of the outstanding shares in the Company following completion of the Rights Issue.

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