Lifecare ASA

Report Publication Announcement • May 15, 2025

LIFE: Lifecare ASA Q1 2025

LIFE: Lifecare ASA Q1 2025

Bergen, Norway, 15 May 2025: Today, Lifecare ASA (LIFE), ("Lifecare" or the

"Company"), a clinical stage medical sensor company developing the next

generation Continuous Glucose Monitor (CGM), publishes its Q1 2025 financial

report and operational update.

Highlights:

* ~ 600M people live with diabetes, as per latest IDF Diabetes Atlas

* Advancing toward market launch

* Design optimization on track to reach design freeze and manufacturability

* Improved sensor sensitivity enhances data accuracy and performance

* Update on strategy, priorities and commercialization progress

Diabetes continues to be one of the most significant global health challenges,

affecting more than 600 million people worldwide. Among them, over 110 million

insulin-dependent patients require continuous glucose monitoring (CGM). CGM is

the fastest-growing segment in diabetes technology, with an annual growth rate

of 12.5% and a projected market size of USD 25 billion in Europe and the U.S.

by 2030. Within this space, implantable CGMs are set to drive the next wave of

innovation --- and Lifecare is well-positioned to take part in this

transformation.

"Our technology offers a novel approach to CGM by utilizing osmotic pressure

as sensing principle to enable continuous, calibration-free glucose monitoring

with extended wear times and improved comfort. Lifecare's sensor is based on

nanotechnology on a microchip and has a significant longevity potential,

making our product very well suited as an implantable CGM solution. Lifecare's

patented technology is proven, based on in-vitro testing and several rounds of

both clinical testing and pre-clinical testing", says Lifecare's CEO Joacim

Holter.

Holter continous: "Manufacturability has been key focus in progress towards a

product design freeze, including ongoing efforts for automation of production

aligned with optimization of product and product tolerances. As planned and

communicated we have validated stable product prototypes designed for

manufacturing this quarter. We are now in the final engineering stages to lock

in the design for manufacturing. The updated implant version will undergo

further testing in spring 2025, forming the technical foundation for our main

regulatory study. On this basis we aim to file for a pre-CE clinical study in

Q2 2025, while we plan to start the pivotal study in late 2025 to support our

CE-mark application". Lifecare's goal is to enter the human CGM market by

Lifecare's short term strategic goals includes a capital efficient path

towards commercialization with near term value inflection points. The Company

aims to build a customer base of 75K patients within 2030, representing ~0.5%

of the total addressable market, equating to an annual revenue of USD 200+

million.

In the meantime, Lifecare is leveraging the faster-moving veterinary market as

an early commercialization opportunity. With no effective glucose monitoring

solutions currently available for animals, this segment provides both a

valuable business case and a real-world platform to build experience in

manufacturing, logistics, and market feedback.

Lifecare's scalable, partner-driven B2B model remains a core strength. The

Company continues to invest in in-house capabilities, with a production

facility opening in Mainz, Germany in Q3 2025. By combining internal control

of design and production with a strategy to partner on sales, distribution,

and customer support, the Company aims to ensure high quality, operational

flexibility, and rapid scalability.

Lifecare's Intellectual Property includes the patented technology, product

software and hardware design, as well as production. To ensure state-of-the

art user interface, Lifecare collaborates with OneTwo Analytics AB which

provides AI-based digital tools for data interpretation and decision support.

The digital software tools include software for both clinicians and the

patients directly and is set up for integration and connectivity with insulin

pumps (AIDs) and insulin pens. Lifecare has already integrated OneTwo

Analytics software with its sensors designed to serve users in both the

veterinary market and later the human market.

"With the scientific foundation established and our commercial strategy

unfolding across both veterinary and human markets, we are entering a critical

phase. The upcoming warrant exercise period in June 2025 will be instrumental

in supporting our next steps. We are grateful for the continued support of our

investors as we work toward CE approval, market entry, and long-term value

creation", says CEO Joacim Holter.

Q1 2025 results presentation and strategic update

CEO Joacim Holter and CFO Renete Kaarvik will present live at Hotel

Continental, Stortingsgaten 24/26, Oslo today at 10:00 a.m. CEST.

To access the webcast Join the Teams-meeting here.

(https://eur04.safelinks.protection.outlook.com/ap/t-59584e83/?url=https%3A%2F%2Fteams.microsoft.com%2Fl%2Fmeetup-join%2F19%253ameeting_MjIyZDU1NGMtNWI1ZS00NDg3LWJiYTYtYzRjODA4ZTgyZWVm%2540thread.v2%2F0%3Fcontext%3D%257B%2522Tid%2522%253A%25224cbfea0a-b872-47f0-b51c-1c64953c3f0b%2522%252C%2522Oid%2522%253A%25222c74671d-f476-4659-b75b-ac80453ff4ee%2522%252C%2522IsBroadcastMeeting%2522%253Atrue%252C%2522role%2522%253A%2522a%2522%257D%26btype%3Da%26role%3Da&data=05|02|asle.wingsternes%40lifecare.no|a24ca83399494f204e0308dd8e192bd8|c5fbb1c64eb045db9f3c6e20ebcd710e|0|0|638822960948667195|Unknown|TWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D|0|||&sdata=E2K0tw3Zzk0eKOEYt%2B4uMir%2BeKu0fYDTFhs28lq7R3w%3D&reserved=0)

A recording of the webcast will be available on our website immediately after

the event.

Following the presentation, Lifecare invites participants to 1:1 meetings with

the CEO and CFO.

To register for physical attendance and to schedule a 1:1 meeting, please

contact: kristin.samuelsen@dnb.no.

About us

Lifecare ASA is a medical sensor company developing technology for sensing and

monitoring of various body analytes. Lifecare's focus is to bring the next

generation of Continuous Glucose Monitoring ("CGM") systems to market.

Lifecare enables osmotic pressure as sensing principle. Lifecare's sensor

technology 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

2025-05-15 07:00 CEST.