Reference is made to the announcement by Black Sea Property AS on 14 March 2023
concerning a private placement with total gross proceeds of NOK 8,168,000 and a
contemplated subsequent offering (the "Subsequent Offering").

Date on which the terms of the Subsequent Offering was announced: 14 March 2023
Last day including right: 14 March 2023
First day excluding right: 15 March 2023
Record date: 16 March 2023
General meeting resolution date: On or about 27 March 2023
Maximum number of new shares: 17,080,000
Subscription price: NOK 0.40
Shall the rights be listed: No

Launch of the Subsequent Offering will be conditional upon approval of the
Subsequent Offering by the general meeting of Black Sea Property AS and
registration and publication of a national prospectus prior to the start of the
subscription period in the Subsequent Offering.

Further information about the Subsequent Offering will be given in due course.

This information is  published  in  accordance  with  the  requirements of the
Continuing Obligations.