Shareholder Letter

Oslo, October 25, 2022 - Observe Medical ASA (OSE: OBSRV) ("Observe Medical" or the "Company"), a Nordic-based medtech company focused on developing and commercializing proprietary and innovative medtech products to the global market through organic growth and targeted M&A, today publishes a shareholder letter.

The letter to our shareholders is enclosed to this release.

For further information, please contact:

Rune Nystad, CEO Observe Medical

Mobile: +47 916 24 683

E-mail: rune.nystad@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), Gothenburg (Sweden), Oulu (Finland), and Seattle (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