Shareholder Letter and Invitation to webcast Presentation

Oslo, February 7, 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 (in Norwegian) in relation to the fully underwritten rights issue in the Company (the "Rights Issue"). The Rights Issue was approved at the Company's extraordinary general meeting, hosted Friday, February 4, 2022.

The letter to our shareholders is enclosed to this release.

The Company will be hosting a presentation describing the Biim acquisition and the Rights Issue and the plans for the Company's way forward on Wednesday 9 February from 09.00 CET, and shareholders are encouraged to attend and ask questions. The presentation will be made available via the following link: https://channel.royalcast.com/landingpage/hegnarmedia/20220209_7/

For further information, please contact:
Björn Larsson, CEO of Observe Medical,

Mobile: +46 76 620 17 25

E-mail: bjorn.larsson@observemedical.com

Per Arne Nygård, CFO of Observe Medical,

Mobile: +47 411 04 345

E-mail: perarne.nygard@observemedical.com

About Observe Medical

Observe Medical develops and markets and sells innovative hospital products that contribute to increased patient safety and a more efficient care system. The Company's ambition is to drive growth by leveraging its expertise in sales and commercialization of its broad portfolio of medical technology products, mainly in the areas of Urine measurement, Anesthesiology/ICUs, surgery and wound care, in combination with targeted M&A. The Company is headquartered in Oslo, Norway and its operations are based out of Gothenburg, Sweden. Observe Medical has a direct sales organization in the Nordics and a distributor network internationally.

Further information is available at www.observemedical.com