Black Sea Property AS

AGM Information • Jun 7, 2019

BLACK SEA PROPERTY AS: NOTICE OF ORDINARY GENERAL MEETING 18 JUNE 2019

BLACK SEA PROPERTY AS: NOTICE OF ORDINARY GENERAL MEETING 18 JUNE 2019

The ordinary general meeting of Black Sea Property AS (the "Company") will be held on 18 June 2019 at 12:00 CEST in the offices of Advokatfirmaet CLP DA, Sommerrogata 13-15, 0255 Oslo, Norway. Please find attached the notice for the meeting, including attendance and proxy forms in English and Norwegian, and a statement from the Company's board of directors and a statement from the Company's auditor in relation to a proposal for a share capital increase to be settled by conversion of debt.

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.