Lifecare ASA

Board/Management Information • Feb 1, 2024

LIFE – APPOINTMENT OF PRODUCTION MANAGER

Bergen, Norway, 1 February 2024: Lifecare AS (LIFE), a clinical stage medical sensor company developing the next generation Continuous Glucose Monitor (CGM), has appointed Torsten Ernst as Production Manager effective 1 March 2024.

This appointment will strengthen our production team. Ernst is an industry specialist with a track record in making new solutions manufacturable, and a solid extensive background from companies such as Zeiss, Varex and Infineon. Ernst also hold a Master's Degree in Mechanical Engineering from the university of Braunschweig, Germany, says CEO Joacim Holter.

The Production Manager will oversee the construction and operation of Lifecare's production facility in Mainz, managing a wide range of responsibilities such as daily activities of employees, serial production of Lifecare sensors, maintenance of machineries, qualification of supply, process improvements and daily reporting of KPIs and metrics across the organization. Lifecare's main goal is to establish automated production by the end of Q2 2024, representing a forerunner to the company's first volume production site planned for 2025.

• The appointed Production Manager distinguished himself among the applicants due to his long relevant background in the field of Lithography and excellent letters of recommendations from previous employers. He has a thorough knowledge of process, quality metrics and tools for managing the production lines and employees and is further skilled in apprehending the affiliation between essential metrics such as quality, delivery and cost, says Vice President Manufacturing Ahmad Fazli.

As Lifecare is entering a new phase in the organizational development, the management skills and experience of Ernst will enhance the company performance at a crucial time for launching the first generation of the product in the market.

The Production Manager will be located on site Mainz and report to VP Manufacturing (Bergen, Norway). The establishment of the position of Production Manager is expected to strongly accelerate Lifecare's preparations and the establishment of forward-looking production capacity.

About us

Lifecare AS 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.

PRESS RELEASE 01 February 2024 08:00:00 CET

Contacts

For further information, please contact:

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

Asle Wingsternes, Head of Communications & Public Affairs, asle.wingsternes@lifecare.no, +47 41 61 42 52