Potential delay of signature of expansion project with Rhenus Group

02 Mar 2022 08:37 CET

Oslo, 2nd of March 2022 at 08.37 CET – Baltic Sea Properties AS ("BALT" or "the
Company", and together with the Company's subsidiaries, "BSP") refers to Oslo
Stock Exchange release and information on the 17th of February 2022, regarding
the memorandum of understanding (MoU) with Rhenus Group regarding expansion of
the existing logistic terminal with approximately apx. 16,000 sqm.

The company has received notification from the German based Rhenus Group to
temporarily postpone the planned final signature of the expansion agreement. The
request from Rhenus comes in response to the outbreak of war in Ukraine and the
sanctions imposed on Russia and Belarus, as Rhenus would like more time to
evaluate the situation.

The company has not received signals from Rhenus Group that their intention to
proceed according to the MoU has changed.

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

The information in this announcement is subject to disclosure requirements under
the Euronext Growth listing rules.

Baltic Sea Properties AS is a Norwegian real estate company focusing on
development and property management in the Baltics. The company is among the
Baltics’ leading real estate investors and developers – owning a portfolio of
logistics, industrial and retail assets.

Company website: balticsea.no

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