Börsiteade

Pealkiri

Correction: Annual General Meeting of Arco Vara AS

Teade

CORRECTION:

The  5. item was missing from the  agenda of the annual  general meeting of Arco
Vara  AS, announced on the 20.04.2022, with  this correction announcement we are
forwarding the adjusted data.

________________________________________________________________________________________________

NOTICE OF THE ANNUAL GENERAL MEETING, ITS AGENDA AND PROPOSED RESOLUTIONS

Dear shareholder of Arco Vara AS,

Notice is hereby given that the annual general meeting of Arco Vara AS (registry
number  10261718; registered office at  Rotermanni 10, Tallinn) will  be held in
Tallinn at Roseni 9 (Metropol Spa Hotel) in conference room No 1 on 17 May 2022
at 10:00 am.

The agenda of the annual general meeting:

 1. Approval of the annual report for 2021

The Supervisory Board proposes to the shareholders:

  * To approve the annual report of Arco Vara AS for 2021.

 1. Distribution of profit and dividend payment

Management   Board   in  accordance  with  Supervisory  Board  proposes  to  the
shareholders:

  * To allocate the net profit for the year ended on 31 December 2021 in the
    amount of 2071 thousand EUR to retained earnings;
  * to pay dividends to the shareholders 0.06 euros per share. The dividend will
    be paid out in 4 instalments as follows:

      * 0.02 euros per share will be paid to the shareholders on 15 June 2022 by
        transfer to the shareholder's bank account. The list of shareholders
        entitled to respective dividends (record date) shall be fixed on 8 June
        2022.
      * 0.01 euros per share will be paid to the shareholders on 15 September
        2022 by transfer to the shareholder's bank account. The respective
        dividend record date is on 8 September 2022.
      * 0.02 euros per share will be paid to the shareholders on 15 December
        2022 by transfer to the shareholder's bank account. The respective
        dividend record date is on 8 December 2022.
      * 0.01 euros per share will be paid to the shareholders on 15 March 2023
        by transfer to the shareholder's bank account. The respective dividend
        record date is on 8 March 2023.

 1. Approval of share option program

Management   Board   in  accordance  with  Supervisory  Board  proposes  to  the
shareholders:

  * To approve the share option program in accordance with the conditions
    described in the materials of the Annual General Meeting made available to
    the shareholders.

 1. Appointment of auditor

The  Management Board in  accordance with the  Supervisory Board proposes to the
shareholders:

  * To appoint an auditor for two years and appoint AS PricewaterhouseCoopers as
    the auditor. To pay the auditor for auditing the annual report of Arco Vara
    AS for 2022 and 2023 according to the agreement concluded between Arco Vara
    AS and AS PricewaterhouseCoopers.

 1. Approval of Arco Vara AS' Management Board remuneration policy

  * To approve Arco Vara AS' Management Board remuneration policy in accordance
    with the conditions of the Management Board's remuneration policy among
    other materials of the Annual General Meeting made available to the
    shareholders.

The  materials of the annual general meeting will be available on the website of
Arco Vara AS at www.arcovara.com and in the registered office of Arco Vara AS at
Rotermanni 10 Tallinn on business days from 9:30 am to 5:00 pm.

Questions  regarding the agenda items may be sent by email to [email protected].
The questions together with the answers will be published on the website of Arco
Vara  AS. All  shareholders have  a lawful  right to  obtain information  at the
general  meeting from the  Management Board about  the operation of the company.
Shareholders  whose shares represent at least  1/20 of the share capital of Arco
Vara  AS may request that additional items be added to the agenda, provided they
submit  their request at least  15 days before the general  meeting, i.e. by 02
April 2022 at the latest, and they may propose a resolution on any or all agenda
items,  provided they  submit the  proposal at  least 3 days  before the general
meeting,  i.e. by 14 May 2022 at the  latest. Shareholder requests and proposals
have to be submitted by email to [email protected] and they will be published in
line with legal requirements.

The  list  of  shareholders  eligible  to  vote  will be fixed 7 days before the
general  meeting, i.e. on 10 May 2022 as at the end of the working day of Nasdaq
CSD Estonian settlement system.

We  ask everyone who decides to appoint with a proxy a representative, to inform
us  about it at the latest on 16 May 2022 and send us the digitally signed proxy
to [email protected]. In case you are not able to sign digitally, please send us
the  scanned proxy to  [email protected] and the  original by post to Rotermanni
10, Tallinn  10111. Registration of physical attendees  begins on 17 May 2022 at
9:30 am.  For registration,  please bring  an identity  document, in case of the
shareholder's  representative a written proxy, or documents proving the right of
representation.

The  invitation of the Annual General Meeting  of Arco Vara AS will be published
in Eesti Päevaleht on 21 April 2022.

Yours sincerely,

Management Board of Arco Vara AS