Black Sea Property AS

Pre-Annual General Meeting Information • Jan 8, 2019

CORRECTION: BLACK SEA PROPERTY AS – COMPLETED EXTRAORDINARY GENERAL MEETING

CORRECTION: BLACK SEA PROPERTY AS – COMPLETED EXTRAORDINARY GENERAL MEETING

Reference is made to the stock exchange notice published on 7 January 2019 at 14.24 hours (CET). This is a correction of such notice. Updated minutes of the extraordinary general meeting with the correct number of shares subscribed in the private placement are enclosed hereto.

For further information please contact:

Egil Melkevik, Chairman

Tel: +47 90 77 09 76

E-mail: egil.melkevik@imenco.com

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 (previously called Aheloy Beach Resort). Sunrise Gardens is a partially completed project and will upon completion comprise over 1,000 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, to realize the project's added value through the sale of residential units and hotel operations.