BLACK SEA PROPERTY AS: HALF YEAR REPORT 2018

Please find enclosed half year report 2018 for Black Sea Property A/S. For further information please contact:

Egil Melkevik, Chairman
Tel: +47 90 77 09 76
E-mail: egil.melkevik@imenco.com

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 Aheloy Beach Resort. Aheloy Beach Resort is a partially-completed project and will upon completion comprise over 1,000 apartments as well as significant commercial space. Black Sea Property AS owns
indirectly 75% of the project. Black Sea Property AS will work to finalize Aheloy Beach Resort, to realize the project's added value through the sale of residential units and hotel operations.