Black Sea Property AS

AGM Information • Mar 27, 2023

Black Sea Property AS: Extraordinary general meeting completed – new name and website for the resort

Black Sea Property AS: Extraordinary general meeting completed – new name and website for the resort

Reference is made to the stock exchange notice on 18 March 2023 regarding a notice for an extraordinary general meeting in the Company to discuss three different proposals for share capital increases. Further information about the share capital increases is available in stock exchange notices from the Company dated 10 and 14 March 2023.

The Company has today completed the extraordinary general meeting. All resolutions were passed in accordance with the proposals from the Board. Please find attached the signed minutes of the extraordinary general meeting.

The Company can also announce that it has been decided to change the commercial name of the Sunrise Gardens Resort to the Sunrise River Resort. The background for the name change is to avoid confusion with other resorts.

A new website for the resort has also been established, and this is available at www.sunriseriver.bg.

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 River. Sunrise River 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 River Resort, to realize the project's added value through the sale of residential units and hotel operations.