22 June 2022

Caspian Sunrise PLC

UK High Court confirms Capital Reduction

Introduction

The Board of Caspian Sunrise PLC ("Caspian Sunrise" or the "Company") is pleased to report the UK High Court yesterday confirmed the Capital Reduction approved by Caspian Sunrise shareholders on 22 April 2022.

Accordingly, the Company will now cancel its share premium and deferred shares, which will create positive distributable reserves and remove the last technical block to the future declaration of dividends.

Caspian Sunrise PLC

Clive Carver

Executive Chairman                                                                +7 727 375 0202

WH Ireland, Nominated Adviser & Broker

James Joyce                                                                            +44 (0) 207 220 1666

Andrew de Andrade

This announcement has been posted to:

www.caspiansunrise.com/investors

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.