Reference is made to the previous stock exchange announcements from Black Sea
Property AS (the "Company") on 9 September 2025 regarding the rights issue of up
to 200,000,000 new shares (the "Offer Shares") at a subscription price of NOK
0.05 per Offer Share (the "Subscription Price"), raising gross proceeds of up to
NOK 10,000,000 (the "Rights Issue"). Reference is further made to the stock
exchange announcement on 30 September 2025 regarding the commencement of the
subscription period for the Rights Issue (the "Subscription Period"). 

The Subscription Period will expire today, on 14 October 2025 at 16:30 hours
(CEST). 

Over-subscription with subscription rights is allowed, but subscription without
subscription rights will not be permitted. 

Correctly completed Subscription Forms must be received by Nordea Bank Abp,
Filial i Norge (the "Settlement Agent") no later than on 14 October 2025 at
16:30 hours (CEST) at the following address or email address: Nordea Bank Abp,
Filial i Norge, Issuer Services Nordea, P.O. Box 1166 Sentrum, 0107 Oslo,
Norway, or email to nis@nordea.com or in case of online subscriptions,
subscriptions must be registered by the expiry of the Subscription Period
through the VPS online subscription system by following this link: VPS online
subscription
https://investor.vps.no/sc/servlet/no.vps.sc.servlets.SCLogonServlet?ISIN=NO0013
673160&TSted=000VP&Sig=d944f1489befdd95601e117872f5f8e4b84d22e00b7bf01b8a36e59cc
838dc66 (which will redirect to the VPS online subscription system). 

Subscription Rights that are not used to subscribe for Offer Shares before the
expiry of the Subscription Period will have no value and will lapse without
compensation to the holder.

For more information, and the terms and conditions of the Rights Issue,
including the subscription form, please see the invitation letter published by
the Company 30 September 2025 (the "Invitation Letter"). The Invitation Letter
is available at https://www.nordea.com/en/issuances,
https://www.northbridge.no/#investorservice, and
https://newsweb.oslobors.no/message/656387. 


Advokatfirmaet CLP DA is acting as legal counsel to the Company in connection
with the Rights Issue.

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.