Reference is made to the stock exchange notice dated29 June 2023 , where it was announced that the general meeting ofBlack Sea Property AS (the "Company" or "BSP") had approved, inter alia, an issuance of 5,250,000 warrants to the members of the Company's Board of Directors. The warrants are granted free of charge. Each warrant gives the holder the right to require issuance of one (1) new share in the Company at a subscription price ofNOK 0.40 per share. The following primary insiders of the Company have been granted warrants: o ChairmanEgil Melkevik has been granted 1,619,000 warrants; o Board memberHans Gulseth has been granted 1,619,000 warrants; o Board member Kåre Rødningen has been granted 1,369,000 warrants; and o Board memberDag Espen Arnesen has been granted 643,000 warrants. Please also see the attached notification forms for further information. For further information please contact: Egil Melkevik, Chairman Tel: +47 90 77 09 76 E-mail: em@ms-solutions.no AboutBlack Sea Property AS :Black Sea Property AS is a real estate company with holdings in a real estate project on the Black Sea coast calledSunrise 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 finalizeSunrise River Beach Resort , to realize the project's added value through the sale of residential units and hotel operations.
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