Black Sea Property AS

Pre-Annual General Meeting Information • Apr 20, 2021

Black Sea Property AS: Notice of extraordinary general meeting

Black Sea Property AS: Notice of extraordinary general meeting

Reference is made to the stock exchange notice from Black Sea Property AS (the "Company") on 30 March 2021 regarding an update of the process for conversion of a seller credit into new shares in the Company.

The Board of Directors of the Company hereby calls for an extraordinary general meeting to be held on 30 April 2021 at 10.00 hours CEST, at the offices of Advokatfirmaet CLP DA, Sommerrogata 13-15, 0255 Oslo, Norway.

The notice for such extraordinary general meeting is attached to this stock exchange notice. Enclosed is also as a statement from the Board of Directors prepared in relation to the proposed debt conversion and a statement from the Company's auditor regarding the statement from the Board of Directors.

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

This stock exchange release was published by the Company's Chairman, Egil Melkevik, at 08:00 CEST at 20 April 2021.

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.