Black Sea Property AS

Pre-Annual General Meeting Information • Jun 16, 2021

Black Sea Property AS: Notice of annual general meeting

Black Sea Property AS: Notice of annual general meeting

The Board of Directors of the Company hereby calls for an annual general meeting to be held on 30 June 2021 at 12.00 hours CEST, at the offices of Advokatfirmaet CLP DA, Sommerrogata 13-15, 0255 Oslo, Norway.

The notice for such annual general meeting is attached to this stock exchange notice. The agenda items include approval of a merger plan for a merger with Bulgaria Eiendom Invest AS (the "Merger") and approval of share capital increases relating to the private placement announced on 28 May 2021 and the subsequent repair offering announced on 30 May 2021.

The merger plan for the Merger, a report and a statement from the Board of Directors in connection with the Merger and a statement from the Company's auditor relating to the Board statement are all attached to this stock exchange. These documents will also be made available at the webpages of the Company, www.blackseaproperty.no

Due to the ongoing situation with spread of coronavirus, all shareholders are encouraged to submit a voting proxy in lieu of attending the general meeting in person. A proxy form is attached to the notice.

For further information, please contact:

Egil Melkevik, Chairman

Tel: +47 90 77 09 76

E-mail: em@ms-solutions.no

About Black Sea Property AS:

Black Sea Property AS is a real estate company with holdings in a real estate project on the Black Sea

coast called Sunrise Gardens. Sunrise Gardens Resort is a partially completed project and will upon completion comprise approximately 950 apartments as well as significant commercial space. Black Sea Property AS owns indirectly 75% of the project. Black Sea Property AS will work to finalize Sunrise Gardens Resort, to realize the project's added value through the sale of residential units and hotel operations.