Baltic Sea Properties

M&A Activity • Dec 15, 2021

Final settlement for acquisition of assets in Klaipeda, Lithuania

Final settlement for acquisition of assets in Klaipeda, Lithuania

Oslo, 15th of December 2021 – Baltic Sea Properties AS ("BALT" or "the Company", and together with the Company's subsidiaries, "BSP") refers to Oslo Stock Exchange release and information on the 26th of April 2021, regarding the acquisition of a 24,000 square metre industrial park, a management company, and development land, all located in Lithuania’s third largest city, Klaipėda.

In accordance with the agreed terms of the transaction, BSP now has paid the final instalment (MEUR 2.3 + accumulated interest MEUR 0.07) of the acquisition price to Baltic Equity Group UAB.

The Company's interim reports for Q2 and Q3 2021, published on the 27th of August and 18th of November respectively, included provisions for the liability in their balance sheets and net asset value (NAV).

The main shareholder in Baltic Equity Group UAB is the current chairman of BSP, James Andrew Clarke. The pricing of the acquired properties was done according to arm's length principle, with price based on valuations from two independent and reputable valuators.

For more information, please contact:

Lars Christian Berger

CEO

phone: +47 930 94 319

Lcb@balticsea.no

The information in this announcement is subject to disclosure requirements under

the EU Market Abuse Regulation and Euronext Growth listing rules.

Baltic Sea Properties AS is a Norwegian real estate company focusing on development and property management in the Baltics. The company is among the Baltics’ leading real estate investors and developers – owning a portfolio of logistics, industrial and retail assets.

Company website: balticsea.no