NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Oslo, Norway, 31 May 2024. 
Reference is made to the stock exchange announcement by Baltic Sea Properties AS
("BALT" or the "Company", and together with the Company's subsidiaries, "BSP")
on 31 May 2024 regarding the successful private placement of 1,781,395 new
shares in the Company (the "Private Placement"), and that the Company intends to
carry out a subsequent offering of up to 1,020,408 new shares raising gross
proceeds of up to approximately NOK 50 million (the "Subsequent Offering"). 

The Subsequent Offering will comprise new shares offered at the same
subscription price as the Offer Shares in the Private Placement, and will be
directed towards existing shareholders in the Company as of 31 May 2024 (as
registered in the VPS two trading days thereafter), who (i) were not included in
the wall-crossing phase of the Private Placement, (ii) were not allocated Offer
Shares in the Private Placement, and (iii) are not resident in a jurisdiction
where such offering would be unlawful or would (in jurisdictions other than
Norway) require any prospectus, filing, registration or similar action. 
The Company reserves the right in its sole discretion to not conduct or cancel
the Subsequent Offering.

Key information:
Date on which the terms and conditions of the repair issue were announced: 31
May 2024

Last day including right: 31 May 2024
Ex-date: 3 June 2024
Record date: 4 June 2024
Date of approval: on or about 6 June 2024
Maximum number of new shares: 1,020,408 new shares
Subscription price: NOK 49.00

Other information: The Subsequent Offering is subject to, inter alia, (i)
completion of the Private Placement, (ii) the AGM authorizing the Board to carry
out the Subsequent Offering, and (iii) the publication of a national prospectus,
expected to on or about 11 June 2024. Further details on the Subsequent Offering
will be made public by the Company in due course.

For additional information, please contact:
Lars Christian Berger
CEO 
Phone: +47 930 94 319
Email: Lcb@balticsea.no

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Lars Christian Berger, CEO on the time and date
provided.

About:
Baltic Sea Properties AS stands as a dedicated entity in real estate investment,
with a portfolio that spans logistics, industrial, and commercial segments,
fostering a diversified and sustainable revenue stream.

Important notice:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.
The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "US Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the US Securities Act and in accordance with applicable U.S. state securities
laws. 
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A under
the US Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression "EU
Prospectus Regulation" means Regulation (EU) 2017/1129 as amended (together with
any applicable implementing measures in any Member State).

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute or include certain
forward-looking statements. Forward-looking statements are statements that are
not historical facts and may include, without limitation, any statements
preceded by, followed by or including words such as "aims", "anticipates",
"believes", "can have", "continues", "could", "estimates", "expects", "intends",
"likely", "may", "plans", "projects", "should", "target" "will", "would" and
words or expressions of similar meaning or the negative thereof. These
statements are based on the management's current views and assumptions and
involve both known and unknown risks and uncertainties and assumptions that are
within and outside the management's control. 

Although the Company believes that the expectations implied in any such
forward-looking statements are reasonable, no assurance can be given that such
expectations will prove to be correct. Actual results, performance or events may
differ materially from those set out or implied in the forward-looking
statements. No representation is made that any of these forward-looking
statements or forecasts will come to pass or that any forecast result will be
achieved. The forward-looking statements included in this announcement represent
the Company's views as of the date of this announcement and subsequent events
and developments may cause the Company's views to change. The Company disclaims
any obligation to update forward-looking information except as required by law.
Readers should not place undue reliance on any forward-looking statement.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.
Neither the Managers nor any of their affiliates makes any representation as to
the accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the
Managers nor any of their affiliates accepts any liability arising from the use
of this announcement.
The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.