Caspian Sunrise PLC

("Caspian Sunrise", or the "Company")

Issue of Equity and Option Awards

Equity issue

Caspian Sunrise announces the issue of 4,476,923 new ordinary shares of 1 pence each in the Company at 3.25 pence per share ("New Shares") in settlement of certain outstanding fees owed to an adviser.

Application will be made for the New Shares to be admitted to trading on AIM, which is expected to occur on or around 29 April 2024 ("Admission"). The New Shares will rank pari passu in all respects with the Company's existing ordinary shares currently traded on AIM.

Following Admission, the Company's issued share capital will comprise 2,254,978,483 ordinary shares of 1 pence each. This number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Option grants

The Company has awarded in total 4,500,000 new options, including 2,500,000 4p options to Seokwoo Shin, a director of the Company, with the additional 2,000,000 options being issued non board staff. 2,500,000 5.5p options previously awarded to Seokwoo Shin have been cancelled, resulting in the net new options totalling 2,000,000.

Additionally, the exercise date for 2,400,000 4p options held by Clive Carver has been extended until 30 April 2025.

In total there are now 16,850,000 outstanding options representing approximately 0.75% of the Company's current issued share capital.

Caspian Sunrise PLC

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