Observe Medical ASA - Disclosure of voting rights at the Annual General meeting

Oslo, 8 May 2023: In connection with the annual general meeting of Observe Medical ASA (the "Company") to be held on 26 May 2023 (the "AGM"), Terje Bakken, chairman of the board of directors of the Company, has received proxies without voting instructions for 3,340,220 shares or 6.24% of the total shares and voting rights in the Company. The proxies are only valid at the AGM.

In addition, Terje Bakken represents Ingerø Reiten Investment Company AS at the board of directors of the Company, who holds 9,653,680 shares or 18.05% of the total shares and voting rights in the Company.

Hence, following the receipt of the proxy, Terje Bakken controls 24.29% of the total shares and voting rights in the Company at the AGM.

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