Black Sea Property AS: Notifiable transactions – grant of warrants

Reference is made to the stock exchange notice dated 24 June 2024, where it was announced that the general meeting of Black Sea Property AS (the "Company" or "BSP") had approved, inter alia, an issuance of 8,000,000 warrants to the members of the Company's Board of Directors. The grant of the Warrants were subject to completion of the share capital decrease approved by the general meeting held on 24 June 2024. The creditor notification period for such share capital decrease has now expired, and the share capital decrease will shortly be submitted for registration. It has therefore been considered appropriate to notify the grant of warrants at this time. 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 of NOK 0.12 per share. The following primary insiders of the Company have been granted warrants: • Chairman Egil Melkevik has been granted 2,000,000 warrants; • Board member Hans Gulseth has been granted 2,000,000 warrants; • Board member Kåre Rødningen has been granted 2,000,000 warrants; and • Board member Dag Espen Arnesen has been granted 2,000,000 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 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.