Caspian Explorer update

& Dividend update

Caspian Explorer update

The terms of the charter agreement previously announced for 2024 have now been agreed with the formal signing scheduled for late March 2023.

Dividends

The Board of Caspian Sunrise is pleased to announce that the Company's February dividend, its fourth monthly dividend, will again total £1 million (approximately $1.20 million) and will be paid as follows:

Dividend:                      0.0444 pence/share

Ex-Dividend Date:       2 March 2023

Record Date:               3 March 2023

Payment Date:            23 March 2023

Details on how shareholders may elect to receive dividends can be access on the Company's website on the following link: www.caspiansunrise.com/investors/dividends.

Contacts

Clive Carver

Chairman                                                                                             +7 727 375 0202

WH Ireland, Nominated Adviser & Broker

James Joyce                                                                                       +44 (0) 207 220 1666

James Bavister

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.