Arco Vara Has a New Chairman of the Supervisory Board

Kert  Keskpaik, previously a member of the Supervisory Board, has been appointed
as  its new Chairman.  Tarmo Sild, who  has chaired the  Supervisory Board until
now, will continue as a member of the Board.

Keskpaik  has been involved in  real estate development and  sales for more than
20 years.  He  has  worked  as  a  broker,  renovated  and  sold apartments, and
completed  a few smaller  development projects. For  the past ten  years, he has
been  a member of the Supervisory Board of Arco Vara AS. Keskpaik holds a degree
in   Business  Administration  with  a  specialization  in  Finance  at  Tallinn
University of Technology.

Comment from Kert Keskpaik:

    "I am very pleased that the Supervisory Board has made the decision and
    appointed me as the new Chairman. Over the past year, Arco Vara AS has
    undergone significant changes, and I plan to help the company grow and
    successfully realize both existing and future development projects."



Comment from Tarmo Sild:

    "Kert Keskpaik represents our passion for real estate that is sustainable,
    modern, and desirable. In addition, he has represented the shareholders and
    served as a member of the Supervisory Board of Arco Vara for over a decade.
    As a lifelong endurance athlete, he brings consistency, discipline, and a
    desire to win - not just to participate. This is an ideal combination of
    qualities to help create new value at the Board level for customers and
    shareholders, and to support the team in reaching the next level."



Darja Bolshakova
CFO
Arco Vara AS
+372 6144 630
[email protected] (mailto:[email protected])