Market announcement

Title

Arco Vara AS announcement on secondary public offering of shares

Message

Arco Vara AS (registry code 10261718) announces the secondary public offering of
its  shares. The offering is based on the offering document drafted by Arco Vara
AS,  attached to this announcement and available  on the website of Arco Vara AS
www.arcovara.com/en/investor-relations/    (http://www.arcovara.com/en/investor-
relations/).  As the total amount  of the offering is  below EUR 2.5 million and
the  shares to be issued represent less than 20% of the shares already traded on
a regulated market, no public offering, listing or trading prospectus is drafted
or published. Shares are publicly offered only in Estonia.

Up to 1,000,000 new shares are offered publicly. The proceeds from the offering,
amounting up to EUR 2.25 million, are intended to be used to develop real estate
projects as described in the offering document.

The offer is directed at all retail and institutional investors in Estonia. Arco
Vara  AS intends to apply for the new  shares issued as a result of the offering
to be admitted to trading on the main list of Nasdaq Tallinn stock exchange.

Overview of the main conditions of the offering:

Offer  period, during  which time  the shares  can be  subscribed, begins on 20
September 2021 at 10:00 and ends on 15 October 2021 at 16:00 (GMT+3).

The  price per one share offered is  EUR 2.25, from which EUR 0.7 is the nominal
value of the share and EUR 1.55 the issue premium. Only integer number of shares
can be subscribed for.

An  investor wishing to submit a  subscription order should contact the operator
of its securities account opened with the Estonian Register of Securities.

Arco  Vara AS has one class of shares  and the shares offered belong to the same
class.

IMPORTANT DATES

The below timeline specifies the most important dates related to the offering.

20 September  2021 at 10:00                                         Start of the
offer period

15 October  2021 at 16:00                                             End of the
offer period

18 October  2021
 Announcing the results of the offering

On  or  about  20 October 2021                                        New shares
are transferred to the investors and payment for the shares
On or about 28 October 2021                                        First trading
day on Nasdaq Tallinn stock exchange

Form of the subscription order:

 Securities account holder:               [investor name]

 Securities account:                      [securities account number of the
                                          investor]

 Account operator:                        [investor's securities account
                                          operator's name]

 Security:                                ARCO VARA SHARE additional 10

 ISIN-code:                               EE380A034652

 Amount of securities:                    [number of shares that the investor
                                          wishes to subscribe]

 Price (per one share):                   EUR 2.25

                                          [number of shares that the investor
 Transaction amount:                      wishes to subscribe multiplied by the
                                          price per share]

 Counterparty:                            Arco Vara AS

 Counterparty's securities account:       99101908627

 Counterparty's securities account        AS LHV Pank
 operator:

 Value date of the transaction:           20.10.2021

 Type of transaction:                     Purchase

 Settlement type:                         Delivery versus payment


For additional information please contact:

Miko-Ove Niinemäe

CEO
+372 614 4630

[email protected] (mailto:[email protected])


The  information contained herein  does not constitute  an offer to  sell or the
solicitation  of an offer to buy, nor shall there be any sale of, the securities
in  any jurisdiction in which such offer, solicitation or sale would be unlawful
prior  to registration, exemption  from registration or  qualification under the
securities  laws of any  such jurisdiction. The  information contained herein is
not  for release, publication or distribution, in  whole or in part, directly or
indirectly,  in or into the United  States, Australia, Canada, Hong Kong, Japan,
New  Zealand, Singapore, South Africa, United Kingdom or such other countries or
otherwise   in   such   circumstances  in  which  the  release,  publication  or
distribution would be unlawful.
The  offering  of  the  shares  is  only  based  on the offering document and is
addressed  only  to  persons  to  whom  the  offering document is addressed. The
offering   document  includes,  among  other  things,  risk  factors  and  other
information.  This notice has not been approved by any supervisory authority and
is  not a  prospectus. Therefore,  investors should  subscribe for shares on the
basis  of the information contained in the offering document and not only on the
basis of this notice.