Black Sea Property AS

Share Issue/Capital Change • Nov 30, 2022

Black Sea Property AS: Extraordinary general meeting completed

Black Sea Property AS: Extraordinary general meeting completed

Reference is made to the stock exchange notice on 21 November 2022 whereby the board of directors (the "Board") of Black Sea Property AS (the "Company") called for an extraordinary general meeting in the Company so that the general meeting could approve that the Company's wholly owned subsidiary, EPO Bulgaria EOOD ("Bulgaria EOOD"), enters into a EUR 7,5 million credit facility as borrower with the Bulgarian company SI Finance Group EOOD as lender (the "Credit Facility")

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.

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 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.