Correction: LIFE: Lifecare ASA Q2 2024

30 Aug 2024 15:50 CEST

Reference is made to the Q2 2024 report published by Lifecare ASA (the
"Company") on 27 August 2024. In connection with the uplisting to Euronext
Oslo Børs, the Company has conducted new assessments of its financial
statements and, in collaboration with its auditor, concluded to recognize the
warrants issued in connection with the previously announced rights issue as an
equity instrument in its Q2 2024 financial statements. As a result, the Board
of the Company has today approved an amended Q2 2024 report reflecting these
corrections. The result as of 30 June 2024 remains unchanged. Updated Q2 2024
report is attached to this notice, together with the Q2 2024 presentation.

Bergen, Norway, 27 August 2024: Today, Lifecare AS (LIFE) (the "Company"), a
clinical stage medical sensor company developing the next generation
Continuous Glucose Monitor (CGM), publishes Q2 financial report and
operational update.

In the second quarter Lifecare continued to build positive momentum towards
automatic production by delivering milestones on a continuous basis over a
long period. The successful completion of the rights issue in Q2 has laid a
solid foundation for advancing the upcoming automated production and further
studies of the Sencell sensor.

- As the diabetes pandemic continues unabated, our commitment to providing
innovative solutions for continuous glucose monitoring in both human and
veterinary markets remains steadfast, says CEO Joacim Holter.

In June, the Company initiated longevity studies in dogs using wireless data
readout. This study is crucial for confirming the long-term functionality of
our sensor in live tissue. Previously, the Sencell sensor had been tested in
human clinical trials for up to three days with wired readout. It is
groundbreaking for the Company's technology to now observe a functional
lifespan exceeding two months in vivo. This suggests that Lifecare's osmotic
sensor principle outperforms the longevity of the commercially available CGM
sensors.

Another significant milestone this quarter was the filing of a new patent
application with the European Patent Office. Lifecare has developed an
innovative chemical composition featuring modular receptor molecules capable
of detecting a wide range of diseases and conditions. This invention aims to
identify and monitor acute or chronic disorders such as cardiovascular
disease, metabolic disorders, infections, and immune diseases, in addition to
Lifecare's primary focus on diabetes. This advancement is expected to enhance
our glucose measurement capabilities and open new opportunities for
measurements in other areas with high commercial potential.

- Strategically, we also acquired an 80% stake in RemovAid this quarter.
RemovAid's medical device plays a critical role in the life cycle of our
glucose sensor. Our CGM sensor is designed for subcutaneous injection, and
with some modifications, we anticipate that RemovAid's technology will be
suitable for the removal of the Sencell sensor from both humans and animals.
Additionally, our recent partnership with OneTwo Analytics, established in
August, will enable us to offer software specifically designed to analyze
glucose data from our sensors. This software will provide essential insights
into glucose deviations and fluctuations, which are crucial for the diagnosis,
treatment, and management of diabetes, says Holter.

- We appreciate the confidence demonstrated by both existing and new
shareholders in the successful completion of the rights issue in June. This
rights issue has been a strategically vital financial move for Lifecare,
ensuring we can maintain the momentum towards automated production.
Furthermore, the rights issue has been instrumental in meeting the financial
requirements for uplisting on Euronext Oslo Børs main list, a process we aim
to finalize in the fourth quarter, says Holter.

CEO Joacim Holter will today 12:00 CEST present the results live at Carnegie
AS, Fjordalleen 16, Aker Brygge in Oslo.

Link to assess the live webcast and register for presentation: ENROLL
(https://edge-iqy.carnegie.se/Events/Index?parm2=erKtL1HSUQo4+P+rQnACuAvbWnIaYSs
rDJtV2aUs/NDzQv+X6DP+Nqmh8NUn8GknSbJoPbdNOQbHCfn91MrxIxp3e4YINWulEkye+KW1VCg=)

About us
Lifecare ASA is a clinical stage medical sensor company developing technology
for sensing and monitoring of various body analytes. Lifecare's main focus is
to bring the next generation of Continuous Glucose Monitoring ("CGM") systems
to market. Lifecare enables osmotic pressure as sensing principle, combined
with the ability to manipulate Nano-granular Tunnelling Resistive sensors
("NTR") on the sensor body for read-out of pressure variations. Lifecare's
sensor technology is referred to as "Sencell" and is suitable for identifying
and monitoring the occurrence of a wide range of analytes and molecules in the
human body and in pets.

Contacts
For further information, please contact:

Joacim Holter, CEO, joacim.holter@lifecare.no, +47 40 05 90 40

Renete Kaarvik, CFO, renete.kaarvik@lifecare.no, +47 94 83 82 42

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2024-08-30 15:50 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

626764_Lifecare Q2 2024 Presentation.pdf
626764_Lifecare Q2 2024 Report.pdf