Black Sea Property AS

Pre-Annual General Meeting Information • Oct 3, 2023

Black Sea Property AS: CORRECTION - Notice of extraordinary general meeting

Black Sea Property AS: CORRECTION - Notice of extraordinary general meeting

Correction: The attached notice of the general meeting includes updated registration and proxy forms.

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Reference is made to the stock exchange notice from Black Sea Property AS (the "Company") on 2 October 2023 regarding the successful placing of a conditional private placement to raise gross proceeds of NOK 5,822,237 (the "Private Placement") and a contemplated subsequent offering of new shares in the Company with gross proceeds of up to NOK 2,250,000 (the "Subsequent Offering").

The share capital increases pertaining to the Private Placement and the Subsequent Offering must be approved by the Company's general meeting.

The Board of Directors of the Company hereby calls for an extraordinary general meeting to be held on 17 October 2023 at 12.00 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.

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 Beach Resort. Sunrise River Beach Resort is a partially completed project and will upon completion comprise approximately 950 apartments as well as significant commercial space. Black Sea Property AS has indirect ownership to the project and will work to finalize Sunrise River Beach Resort, to realize the project's added value through the sale of residential units and hotel operations.